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This book entitled Entrepreneurship Development examines the conceptual development and practical application of techniques and management of an entrepreneurial institution. This volume covers fourteen chapters to meet the needs of entrepreneurship development courses. Its objective is to present a clear, realistic, and contemporary perspective of entrepreneurship. Accordingly, the subject matter reflects major innovations and advancements in shaping contemporary thought and practice of entrepreneurship development. The scope in this book is being altered to reflect developments such as increasing social responsibilities, changing governmental relationships, and the internationalization of business organisation. The approaches are being restructured as a result of the current emphasis on contributions of the behavioral and social sciences, quantitative methods, and technological analysis. The content is being modified by the appearance of the new concepts, models, theories, courses, and curricula. All the materials included have been tested carefully in courses at both undergraduate, graduate and postgraduate levels of entrepreneurship management. This textbook analyses all the course materials in a very brief and compressed manner as required for the examination.
Contents
PREFACE (V) 1. THE CONCEPT AND NATURE OF ENTREPRENEURSHIP 1 Entrepreneur 2 Entrepreneur: As a Leader 3 Entrepreneurs as: An Innovator 3 The Evolution of Entrepreneur 4 An Evolutionary Approach to the Theory of Entrepreneurship 6 Functions of Entrepreneur 13 Entrapreneur Vs. Manager Relationship 15 Definition of Entrepreneur Today 15 Start-up and Funding Issues for Entrepreneurs 16 Internal and External Factor of Entrepreneurship 20 Role of Entrepreneurship in Economic Development 21 Socio-Economic Benefits from Entrepreneurship 22 Intrapreneurship 23 Entrepreneurship as Career Option 30 Fostering Intrapreneurship 31 The need for Intrapreneurship 31 Intrapreneurship Vs. Entrepreneurship 33 The Ethics of Entrepreneurs 34 Social Responsibilities of an Entrepreneur 37 The Future of Entrepreneurship 38 Summary 39 2. THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND 41 Elements of the Entrepreneurial Mind 41 Entrepreneurial Careers and Education 42 The Entrepreneurial Process 43 Entrepreneurial Life Cycle 46 Managerial Versus Entrepreneurial Decision Making 48 Entrepreneurial Leadership Characteristics 49 Create an Intrapreneurial Culture 51 Corporate Versus Intrapreneurial Culture 54 Summary 55 3. THE INDIVIDUAL ENTREPRENEUR 57 Profile of an Entrepreneur 57 Entrepreneur Background 60 Entrepreneurial Motivation 61 Role Models and Support Systems 78 Men Versus Women Entrepreneurs 78 Characteristics of the Minority Entrepreneur 79 Entrepreneur Versus Inventor 80 Social Entrepreneurship 81 Historical Development 82 Cooperative Entrepreneurship 85 Corporate Entrepreneurship 87 Summary 101 4. WOMEN’S ENTREPRENEURSHIP AND FAMILY AND NON-FAMILY ENTREPRENEUR 103 Creating Systematic Knowledge about Women’s Entrepreneurship 106 A Risk and Reward Framework for Women’s Entrepreneurship 122 Recommendations of Developing Policy 146 Summary 155 5. ENTREPRENEURSHIP IN FAMILY VS. NON-FAMILY FIRMS 157 Organizational Culture in Family Firms 159 Dimensions of Cultural Support of Family Business Entrepreneurship 159 Important Strategic Resource 164 Contributions to the Literature 166 Managerial implications 166 Summary 168 6. INTERNATIONAL ENTREPRENEURSHIP 169 Understanding the Importance of International Business 170 Nature of International Entrepreneurship 171 Importance of International Business to the Firm 171 International Versus Domestic Entrepreneurship 171 Foreign Market Entry Modes 176 Three Barriers to International Trade 179 Entrepreneurial Partnering 182 Entrepreneurship Development in Transitional Economies 183 Summary 197 7. ENTREPRENEURSHIP IN INDIA 199 The Story of the Indian Entrepreneurship 201 Entrepreneurship in Independent India 201 The Growth of Entrepreneurship in India 202 The Transforming Scenario 203 Entrepreneurship Development in India 204 Scope of Entrepreneurship Development in India 204 Entrepreneurship Development Institute 208 Women as Entrepreneurs 208 Social Entrepreneurship 210 Role of Entrepreneurship in India’s Future Economic Development 212 Summary 216 8. CREATING BUSINESS IDEA FOR ENTREPRENEURS 217 Sources of New Ideas for Entrepreneurs 217 Methods of Generating New Ideas for Entrepreneurs 218 Business Creativity and Innovation 224 New Product Planning and Development 226 E-Commerce and E-Business 229 E-Commerce Applications: Issues and Prospects 245 E-Commerce in Developing Countries 251 Feasibility Analysis 262 Project Planning 264 Summary 275 9. LEGAL ISSUES FOR THE ENTREPRENEUR 277 How to Select your Company’s Lawyer 277 Intellectual Property 279 Patent 293 Trademarks 298 Trade Secret 301 Licensing 304 Product Safety and Liability 308 Insurance 309 Contract 320 Summary 325 10. THE BUSINESS PLAN: CREATING AND STARTING THE VENTURE 327 Audience 328 Content 328 Presentation Formats 329 Why Write a Business Plan? 329 Who Should Write the Business Plan? 330 Who Even Reads Business Plans Anymore? 330 How do Potential Lenders and Investors Evaluate the Plan? 331 Write a Business Plan 331 Using the Internet as a Resource Tools 341 Implementing a Business Plan 341 Keys to Successfully Implementing a Business Plan 343 Why some Businesses Fail 345 Summary 346 11. MARKETING MANAGEMENT 347 Meaning and Concept of Marketing 347 Function of Marketing 348 Marketing Plan 356 Industry Analysis 366 Competitor Analysis 367 Marketing Mix 370 Marketing Research 372 Product Planning 384 New Product Development 384 Standardization and Grading 390 Consumer Expectations Test 403 Packaging and Labeling 403 Branding 406 Pricing 407 Promotion 412 Mass Marketing 412 Marketing Basics for the Small Business 413 Market Segmentation 415 Marketing Assistance 417 Advertising 418 Sale Promotion 421 Publicity 428 Sales and Distribution Management 429 Competitive Bids 453 Summary 456 12. GENERAL MANAGEMENT AND FINANCE 459 Four Functions of Management 459 Management and the Entrepreneur 461 Asset Management 462 Maintenance Management 463 Equipment Management 465 Inventory Decisions 469 Production Planning and Scheduling 470 Production Control 472 Inventory Control 480 The ABC Analysis 481 Quality Control 486 Cost of Goods Sold 487 Calculating the Profit or Loss of a Business 491 Business Communication 493 Develop an Effective Communication in the Marketing 498 Public Relations 504 Uses of Computer 505 Information Technology 507 Meaning of Finance 508 Need Financial Management 508 Ingredients of Finance Management 509 Types of Business Finance 510 Financial Capital 511 Fixed Capital and Working Capital 514 Financial Planning 515 The Financial Planning Process 517 Characteristics of a Sound Financial Plan 518 Responsibility of Financial Management 519 Main Aspects of Financial Planning 521 Meaning of Capital Structure 522 Basic Concept Budget 523 Profit Maximization 525 Wealth Maximization 531 Profit Maximization Vs. Wealth Maximization 531 Summary 533 13. THE ORGANIZATIONAL PLAN 535 Importance of the Management Team 535 Legal Forms of Business 537 Organization Design 546 Building the Management Team and a Successful Organization Culture 548 The Board of Directors 549 Board of Advisors 552 Summary 553 14. FINANCING THE NEW VENTURE 555 Sources of Capital 555 Commercial Bank 559 SBA’s Role 561 Research and Development Limited Partnership 562 Federal Government Grants Help for Entrepreneurs 563 Private Placement 564 Bootstrap Financing 565 Informal Risk Capital and Venture Capital 567 Venture Capital 570 An Overview of the Venture Capital Industry 570 Venture Capital Financing 577 Financial Ratio Analysis 585 Strategic Entrepreneurship 588 Growth Strategy 599 Franchising 601 Joint Venture 605 Mergers and Acquisitions 610 Going Public 621 Executive Compensation 625 Bankruptcy 630 Summary 630 CASE STUDIES 633 BIBLIOGRAPHY 659 Index 673
ISBN - 9788182203686
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