Preface of Textbook
About the Textbook
About the Authors
Book Website at McGraw-Hill
DVD Contents
Stanford 1e Book Website
McGraw-Hill 1e Book Website
Book Contents
Table of Contents
Venture Opportunity, Concept and Strategy
Venture Formation and Planning
Functional Planning of the Venture
Financing and Building the Venture
  Business Plans (App. A)
  Case Studies (App. B)
Online Sources (App. C)
Sample Syllabus
Course Overview
Calendar of Sessions
Entrepreneurial Perspective
Idea or Opportunity
Gathering Resources
Managing Ventures
Entrepreneurship and You
Additional Resources
Schools Using This Textbook
Authors Blog

Part III : Venture Formation and Planning

The creation of a plan for marketing and selling a product is based on clearly describing the target customer and how the product will be priced, communicated, delivered, and supported. An organizational plan that supports a collaborative, performance-based culture and a sound compensation scheme must be created to attract good talent. The acquisition of resources and capabilities and facilities will be planned for and initiated in order to build a momentum for the venture. A plan for outsourcing some activities and acquiring necessary assets and technologies will facilitate the early growth of the firm. The management of operations, processes, and manufacturing will be described in an operations plan. Finally, the venture team will describe the potential for acquisitions, if any, and the plan for operating internationally.

Chapter 11: The Marketing and Sales Plan

A fundamental activity of any firm is to attract, serve, and retain customers for its product offerings. This activity, called marketing, is critical to the success of a new firm since the firm normally starts without any customers. A new business must create a marketing and sales plan, which describes its target customers for its product offering.

Chapter 12: The New Enterprise Organization

After recognizing an opportunity and deciding it is attractive, usually one or two leaders assemble a new venture team to build a plan and an organization to execute it. These leaders are able to inspire and motivate others to join the new venture and work on tasks of the venture. They build a team that is collaborative and possesses diverse competencies.

Chapter 13: Acquiring, Organizing, and Managing Resources

Entrepreneurs need to acquire capital, people, intellectual property, and physical assets to successfully launch and operate their venture. To tap the required resources, they need to build credibility and legitimacy in the marketplace of resources and talent.

Chapter 14: The Management of Operations

Every business is built on a set of operational processes that serve to create, make, and provide the product to the customer. Most businesses build a chain of activities that add value at each section of the chain. Each element of the value chain has a capability that provides value added to the product. A new venture manages its value chain to provide the ultimate product to the customer.

Chapter 15: Acquisitions, Mergers, and Global Business  
Entrepreneurs can create a new business by acquiring an existing firm and then improving it. The integration of the newly acquired firm within the existing firm is a large challenge, however, especially when the cultures of the two firms differ significantly. Most new businesses develop, at the appropriate time, a plan for building an international strategy for growth. The forces for globalization are powerful, and new business ventures need to plan for them.
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