ESCP Europe

Item type

eBooks

Language

English

Publication date

2012

Edition no.

9th Int. ed.

ISBN

9780077148034

Note

• 10 user licenses

Subjects

VENTURE CAPITAL - ENTREPRENEURSHIP - CASE STUDY - START-UP COMPANY

New Venture Creation: Entrepreneurship for the 21st Century is about the process of starting a new venture, growing it, successfully harvesting it, and starting again. The book presents the substantial body of knowledge about the entrepreneurial process in a pragmatic way – through text, case studies, and hands-on exercises – to help readers compress their learning curves, reduce their ultimate risk and pain, and allow them to gain more from their subsequent entrepreneurial experiences.

PART I The Founder 1 The Global Entrepreneurial Revolution for a Flatter World Entrepreneurship Flattens the World Two Nobel Prizes Recognize Entrepreneurship A Macro Phenomenon Entrepreneurship: 40 Years as a Transformational Force Four Entrepreneurial Transformations That Are Changing the World Entrepreneurship as the New Management Paradigm Entrepreneurship as a New Education Paradigm Entrepreneurship as the New Not-for-Profit and Philanthropy Management Paradigm The Energy Creation Effect The Road Ahead The Genie Is out of the Bottle Entrepreneurship: Innovation + Entrepreneurship = Prosperity and Philanthropy New Venture Formation The Entrepreneurial Revolution: A Decade of Acceleration and Boom Entrepreneurs: America's Self-Made Millionaires A New Era of Equity Creation Building an Enterprising Society Chapter Summary Study Questions Internet Resources for Chapter 1 Mind Stretchers Exercise 1: Visit with an Entrepreneur and Create a Lifelong Learning Log Exercise 2: The Venturekipedia Exercise—Time Is Everything! Case: ImageCafé 2 The Entrepreneurial Mind: Crafting a Personal Entrepreneurial Strategy Entrepreneurs Are Good Business People Three Principles for Entrepreneurial Leadership Converging on the Entrepreneurial Mind Desirable and Acquirable Attitudes, Habits, and Behaviors Seven Dominant Themes Entrepreneurial Reasoning: The Entrepreneurial Mind in Action The Concept of Apprenticeship Shaping and Managing an Apprenticeship Windows of Apprenticeship The Concept of Apprenticeship: Acquiring the 50,000 Chunks Role Models Myths and Realities What Can Be Learned? Chapter Summary Study Questions Mind Stretchers Exercise 1: Crafting a Personal Entrepreneurial Strategy Exercise 2: Personal Entrepreneurial Strategy Case: Lakota Hills PART II The Opportunity 3 The Entrepreneurial Process Demystifying Entrepreneurship Classic Entrepreneurship: The Start-Up Entrepreneurship in Post–Brontosaurus Capitalism: Beyond Start-Ups “People Don't Want to Be Managed. They Want to Be Led!” Signs of Hope in a Corporate Ice Age Metaphors Entrepreneurship = Paradoxes The Higher-Potential Venture: Think Big Enough Smaller Means Higher Failure Odds Getting the Odds in Your Favor Threshold Concept Promise of Growth Venture Capital Backing Private Investors Join Venture Capitalists Find Financial Backers and Associates Who Add Value Option: The Lifestyle Venture The Timmons Model: Where Theory and Practice Collide in the Real World Intellectual and Practical Collisions with the Real World Value Creation: The Driving Forces Change the Odds: Fix It, Shape It, Mold It, Make It Recent Research Supports the Model Chapter Summary Study Questions Internet Resources for Chapter 3 Mind Stretchers Case: Roxanne Quimby 4 Clean Commerce Is an Opportunity Sea Change Clean Commerce and the Sustainability Lens: Seeing and Acting on New Opportunities and Strategies Defining the Concept: How to Look through a Sustainability Lens Weak Ties Systems Thinking Thinking Like a Molecule Illustrating the Concept: Green Cleaning Illustrating the Concept: NatureWorks The E-Factor Drivers of New Entrepreneurial Opportunities Implications for 21st-Century Entrepreneurs Chapter Summary Study Questions Internet Resources for Chapter 4 Mind Stretchers Case: Jim Poss 5 The Opportunity: Creating, Shaping, Recognizing, Seizing Think Big Enough Transforming Caterpillars into Butterflies New Venture Realities The Circle of Ecstasy and the Food Chain for Ventures When Is an Idea an Opportunity? Spawners and Drivers of Opportunities Search for Sea Changes The Role of Ideas Ideas as Tools The Great Mousetrap Fallacy Contributors to the Fallacy Pattern Recognition The Experience Factor Enhancing Creative Thinking Approaches to Unleashing Creativity Team Creativity Big Opportunities with Little Capital Real Time Relation to the Framework of Analysis Screening Opportunities Opportunity Focus Screening Criteria: The Characteristics of High-Potential Ventures Industry and Market Issues Economics Harvest Issues Competitive Advantages Issues Management Team Issues Personal Criteria Strategic Differentiation Gathering Information Finding Ideas Industry and Trade Contacts Shaping Your Opportunity Published Sources Guides and Company Information Additional Internet Sites Journal Articles via Computerized Indexes Statistics Consumer Expenditures Projections and Forecasts Market Studies Other Sources Other Intelligence Chapter Summary Study Questions Internet Resources for Chapter 5 Mind Stretchers Exercise 1: The Next Sea Changes Exercise 2: Opportunity-Creating Concepts and the Quest for Breakthrough Ideas Exercise 3: Creative Squares Exercise 4: Idea Generation Guide Case: Burt's Bees 6 Screening Venture Opportunities QuickScreen and Venture Opportunity Screening Exercise Exercise 1: QuickScreen Exercise 2: Opportunity Concept and Strategy Statement Exercise 3: The Venture Opportunity Profile Exercise 4: Opportunity-Shaping Research and Exercise Exercise 5: Customer Contact Research and Exercise Exercise 6: Mining the Value Chain—Defining the “White Space” Exercise 7: Economics of the Business—How Do You Make Money in the White Space? Exercise 8: Capital and Harvest—How Will You Realize Dollars from the Venture? Exercise 9: Competitive Landscape—Your Strategic Analysis Exercise 10: Founders' Commitment Exercise 11: Flaws, Assumptions, and Downside Consequences—Risk Reconsidered Exercise 12: Action Steps—Setting a Week-by-Week Schedule Case: Globant 7 Opportunities for Social Entrepreneurship What Is Social Entrepreneurship? Types of Social Entrepreneurship Social Purpose Ventures Enterprising Nonprofits Hybrid Models of Social Entrepreneurship The Timmons Model Interpreted for Social Entrepreneurship Wicked Problems and Opportunity Spaces Resources The Importance of the Brain Trust in Social Entrepreneurship Concluding Thoughts: Change Agent Now or Later? Chapter Summary Study Questions Internet Resources Mind Stretchers Case: Northwest Community Ventures Fund Appendix A: Note on the Venture Capital Investing Process 8 The Business Plan Why Do a Business Plan? Developing the Business Plan The Plan Is Obsolete at the Printer The Plan Is Not the Business Some Tips from the Trenches How to Determine If Investors Can Add Value The Dehydrated Business Plan Who Develops the Business Plan? Segmenting and Integrating Information Establishing Action Steps Preparing a Business Plan A Complete Business Plan Chapter Summary Study Questions Internet Resources for Chapter 8 Mind Stretchers Exercise 1: The Business Plan Guide Exercise 2: The Virtual Brain Trust Case: Newland Medical Technologies PART III The Founder and Team 9 The Entrepreneurial Leader and the Team The Entrepreneurial Leader People Know Leaders When They Experience Them Stages of Growth A Theoretical View Managing for Rapid Growth What Entrepreneurial Leaders Need to Know Other Leadership Competencies Forming and Building Teams Rewards and Incentives: Slicing the Founder's Pie An Approach to Rewards and Equity Considerations of Value Chapter Summary Study Questions Internet Resources for Chapter 9 Mind Stretchers Exercise 1: Leadership Skills and Know-How Assessment Exercise 2: Slicing the Equity Pie Case: Maclean Palmer 10 Ethical Decision Making and the Entrepreneur Overview of Ethics Ethical Stereotypes Can Ethics Be Taught? Ethics Can and Should Be Taught The Entrepreneur's Competitive Edge: The Art of Self-Assessment The Usefulness of Academic Ethics Foundations for Ethical Decision Making Applying the Foundations Integrity as Governing Ethic Entrepreneurs' Perspectives The Fog of War and Entrepreneurship: A Unique Context Action under Pressure Advice and Tips from the Trenches Thorny Issues for Entrepreneurs Different Views Problems of Law Examples of the Ends-and-Means Issue An Example of Integrity The Ecological Stakeholder Chapter Summary Study Questions Internet Resources for Chapter 10 Mind Stretchers Exercise 1: Ethics Exercise 2: Ethical Decisions—What Would You Do? PART IV Financing Entrepreneurial Ventures 11 Resource Requirements The Entrepreneurial Approach to Resources Bootstrapping Strategies: Marshaling and Minimizing Resources Building Your Brain Trust Using Other People's Resources (OPR) Outside People Resources Board of Directors Alternatives to a Formal Board Attorneys Bankers and Other Lenders Accountants Consultants Financial Resources Analyzing Financial Requirements Internet Impact: Resources Fund-Raising for Nonprofits Chapter Summary Study Questions Internet Resources for Chapter 11 Mind Stretchers Exercise 1: Build Your Brain Trust Exercise 2: How Entrepreneurs Turn Less into More Case: Quick Lube Franchise Corporation (QLFC) 12 Franchising Introduction Job Creation versus Wealth Creation Franchising: A History of Entrepreneurship Franchising: Assembling the Opportunity Primary Target Audience Evaluating a Franchise: Initial Due Diligence Franchisor as the High-Potential Venture Key Components of a Franchise Offering Service Delivery System Training and Operational Support Field Support Marketing, Advertising, and Promotion Supply Franchise Relationship Model Internet Impact: Resources The Network Enhanced Chapter Summary Study Questions Internet Resources for Chapter 12 Mind Stretchers Case: Mike Bellobuono 13 Entrepreneurial Finance Venture Financing: The Entrepreneur's Achilles' Heel Financial Management Myopia: It Can't Happen to Me Critical Financing Issues Entrepreneurial Finance versus Corporate Finance Determining Capital Requirements Financial Strategy Framework Free Cash Flow: Burn Rate, Fume Date, and Time to Clear Crafting Financial and Fund-Raising Strategies Critical Variables Financial Life Cycles International Finance and Trade Chapter Summary Study Questions Internet Resources for Chapter 13 Mind Stretchers Case: Midwest Lighting, Inc. 14 Obtaining Venture and Growth Capital The Capital Markets Food Chain Preserve Your Equity Timing Angels and Informal Investors Who They Are Finding Informal Investors Contacting Investors Evaluation Process The Decision Venture Capital: Gold Mines and Tar Pits What Is Venture Capital? The Venture Capital Industry The Booming 1990s Beyond the Crash of 2000: The Venture Capital Cycle Repeats Itself The Sine Curve Lives Circa 2005 Venture Capital Investing Is Global Identifying Venture Capital Investors Dealing with Venture Capitalists Questions the Entrepreneur Can Ask Due Diligence: A Two-Way Street Other Equity Sources Small Business Administration's 7(a) Guaranteed Business Loan Program Small Business Investment Companies Small Business Innovation Research Corporate Venture Capital Mezzanine Capital Private Placements Initial Public Stock Offerings Private Placement after Going Public Employee Stock Ownership Plans (ESOPs) Keeping Current about Capital Markets Chapter Summary Study Questions Internet Resources for Chapter 14 Wiki–Google Search Mind Stretchers Case: Forte Ventures 15 The Deal: Valuation, Structure, and Negotiation The Art and Craft of Valuation What Is a Company Worth? Determinants of Value A Theoretical Perspective Investor's Required Rate of Return (IRR) Investor's Required Share of Ownership The Theory of Company Pricing The Reality The Down Round or Cram-Down Circa 2003 Improved Valuations by 2008 Valuation Methods The Venture Capital Method The Fundamental Method The First Chicago Method Ownership Dilution Discounted Cash Flow Other Rule-of-Thumb Valuation Methods Tar Pits Facing Entrepreneurs Staged Capital Commitments Structuring the Deal What Is a Deal? Understanding the Bets The Specific Issues Entrepreneurs Typically Face The Term Sheet Sand Traps Strategic Circumference Legal Circumference Unknown Territory Chapter Summary Study Questions Internet Resources for Chapter 15 Wiki–Google Search Mind Stretchers Case: Lightwave Technology, Inc. 16 Obtaining Debt Capital 2007: Subprime Loans Submerge Credit Markets A Cyclical Pattern: Shades of 1990–1993 A Word of Caution The Lender's Perspective Sources of Debt Capital Trade Credit Commercial Bank Financing Line of Credit Loans Time-Sales Finance Term Loans Chattel Mortgages and Equipment Loans Conditional Sales Contracts Plant Improvement Loans Commercial Finance Companies Factoring Leasing Companies Before the Loan Decision Approaching and Meeting the Banker What the Banker Wants to Know The Lending Decision Lending Criteria Loan Restrictions Covenants to Look For Personal Guarantees and the Loan Building a Relationship The TLC of a Banker or Other Lender What to Do When the Bank Says No Tar Pits: Entrepreneurs Beware Beware of Leverage: The ROE Mirage IRS: Time Bomb for Personal Disaster Neither a Lender nor a Borrower Be, But If You Must … Chapter Summary Study Questions Internet Resources for Chapter 16 Wiki–Google Search Mind Stretchers Case: Bank Documents: “The Devil Is in the Details” PART V Start-up and Beyond 17 Leading Rapid Growth, Crises, and Recovery Inventing New Organizational Paradigms Entrepreneurial Leaders Are Not Administrators or Managers Leading Practices of High-Growth Companies Growing Up Big Stages of Growth Revisited Core Leadership Mode The Problem in Rate of Growth Getting into Trouble—The Causes Strategic Issues Leadership Issues Poor Planning, Financial/Accounting Systems, Practices, and Controls Getting Out of Trouble Predicting Trouble Net-Liquid-Balance-to-Total-Assets Ratio Nonquantitative Signals The Gestation Period of Crisis The Bloom Is Off the Rose—Now What? Decline in Organizational Morale The Threat of Bankruptcy Voluntary Bankruptcy Involuntary Bankruptcy Bargaining Power Intervention Diagnosis The Turnaround Plan Longer-Term Remedial Actions The Importance of Culture and Organizational Climate Six Dimensions E-Leadership Entrepreneurial Leadership for the 21st Century: Three Breakthroughs Ewing Marion Kauffman and Marion Labs Jack Stack and Springfield Remanufacturing Corporation Ralph Stayer and Johnsonville Sausage Company The Chain of Greatness Chapter Summary Study Questions Internet Resources for Chapter 17 Mind Stretchers Case: Telephony Translations, Inc. (A) 18 The Family as Entrepreneur Families, Entrepreneurship, and the Timmons Model Building Entrepreneurial Family Legacies Large Company Family Legacies Smaller and Midsized Family Legacies The Family Contribution and Roles Frame One: The Mind-Set and Method for Family Enterprising Enterprising Mind-Set and Methods Creating the Dialogue for Congruence Frame Two: The Six Dimensions for Family Enterprising Leadership Dimension: Does Your Leadership Create a Sense of Shared Urgency for Enterprising and Tra Relationship Dimension: Does Your Family Have the Relationship Capital to Sustain Their Transgenerat Vision Dimension: Does Your Family Have a Compelling Multigenerational Vision That Energizes People Strategy Dimension: Does Your Family Have an Intentional Strategy for Finding Their Competitive Adva Governance Dimension: Does Your Family Have Structures and Policies That Stimulate Change and Growth Performance Dimension: Does Your Performance Meet the Requirements for Transgenerational Entrepreneu Frame Three: The Familiness Advantage for Family Enterprising Conclusion Chapter Summary Study Questions Internet Resources for Chapter 18 Mind Stretchers Exercises Mind-Set Continuum Methods Continuum Family Enterprising Model Familiness f+f− Continuum Case: Indulgence Spa Products Appendix A Appendix B 19 The Harvest and Beyond A Journey, Not a Destination Wealth in Families The Journey Can Be Addictive First Build a Great Company Create Harvest Options and Capture the Value A Harvest Goal: Value Realization Crafting a Harvest Strategy: Timing Is Vital Harvest Options Capital Cow Employee Stock Ownership Plan Management Buyout Merger, Acquisition, and Strategic Alliance Outright Sale Public Offering Wealth-Building Vehicles The Road Ahead: Devise a Personal Entrepreneurial Strategy Goals Matter—A Lot! Chapter Summary Study Questions Internet Resources for Chapter 19 Mind Stretchers Exercise: “Wisdom from the Harvest” Case: Optitech Index .