5:  Entrepreneurship & New Venture Management

  

 

A.  Entrepreneurship:  The process of planning, organizing, operating, and assuming the risk of a business.

                                        What is small business?

 

 

 

B.  Entrepreneurship and Society

        *  What are some findings?

 

 

 

        *  Has small business been important for the U.S.

 

 

        1.  Job Creation

 

 

 

        2.  Innovation

 

 

 

        3.  Importance to Large Business

 

 

C.  Strategies

        1.  Choosing an Industry

 

 

 

        2.  Emphasizing distinctive competencies

*  I.D. nitches

 

*  I.D. markets

 

*  First Mover Advantages

 

        3.  Writing a Business Plan

              *  The business plan should include:  Goals and Objectives

                                                                         Strategies

                                                                         A Plan

 

        4.  International Opportunities

 

 

D.  Structure of Entrepreneurial Organizations

        1.  Starting a New Business

              *  Buying an Existing Business

 

 

 

              *  Starting from Scratch

 

 

 

        2.  Financing the New Business

*  Personal Resources

 

*  Strategic Alliances

 

*  Lenders

 

*  Venture Capital

 

*  SBICs

 

*  SBA

 

        3.  Sources of Management Advice

              *  Includes advisory boards, management consultants, the SBA, and networking

 

 

        4.  Franchising

              *  How does the franchising agreement work?

 

 

 

              *  What are the advantages and disadvantages of franchising?

 

 

 

E.  Performance of Entrepreneurial Organizations

        1.  What is the ratio of business successes to failures?

 

        2.  What are trends in new business start-ups?

 

 

 

                              How are woman entrepreneurs doing?

 

 

 

        3.  What are reasons for entrepreneur success and failure?