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 I: Venture Opportunity, Concept, and Strategy

Entrepreneurs have important roles in creating new businesses that fuel progress in societies worldwide. The entrepreneur uses a combination of innovation and technology to foster new, effective means of activity in all facets of life. The capable entrepreneur learns to identify, select, describe, and communicate the essence of an opportunity that has attractive potential to become a successful venture. The entrepreneur is able to describe the valuable contributions of a venture and create the design of a business model that can be sustained by a competitive advantage. The venture team creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new product or service in the marketplace. Finally, the venture team builds an innovation strategy that fosters the sustainable advantage of the technology venture.

Chapter 1: Capitalism and the Technology Entrepreneur

The entrepreneur provides the creative force capitalism needs to work. Entrepreneurs strive to make a difference in our world and contribute to its betterment. In this chapter, we describe the characteristics of the people called entrepreneurs and the process they use to create new enterprises.

Chapter 2: Opportunity and the Business Summary

Entrepreneurs identify and evaluate opportunities while striving to find one that fits their capabilities, interests, and resources. Examining social, technological, and economic trends can lead to the identification of important emerging needs.

Chapter 3: Building a Competitive Advantage

A new business is defined by the wants or needs customers satisfy when they buy a product or service. To create a theory of a new business, the entrepreneur mus cogently and clearly describe the customers and their needs and how the venture will satisfy those needs. To describe the business, the entrepreneur prepares a series of statements and propositions that clearly outline the business.

Chapter 4: Creating a Strategy

Every new venture has a strategy or approach to achieve its goals. This strategy is in response to its plan to implement a solution to an important problem or opportunity.
Chapter 5: Innovative Strategies  
The decision to be the first mover needs to be addressed by all entrepreneurs. The entrepreneur needs to maintain a sense of urgency but avoid being too early or too late to market. Entrepreneurs seek to build an innovation strategy that involves new technologies, ideas, and creativity that lead to invention and ultimately commercialization. A firm that encourages creativity and inventiveness can create the ingredients of sustained innovation.
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