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9781412916561

Entrepreneurship Strategy : Changing Patterns in New Venture Creation, Growth, and Reinvention

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  • ISBN13:

    9781412916561

  • ISBN10:

    1412916569

  • Format: Hardcover
  • Copyright: 2006-08-14
  • Publisher: SAGE Publications, Inc

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Summary

The Princeton Review and Entrepreneur Announce America's Top-Ranking Schools for Entrepreneurship. DePaul University made the top three on the graduate side. The Ryan Creativity Center at DePaul received recognition for its Idea Clinic as one of the top ten business programs in universities that are "entrepreneurial hot spots" programs. Lisa Gundry has been awarded the Innovation in Business Education Award in 1997, by the American Assembly of Collegiate Schools of Business (AACSB) Mid-Continent East Association. She has also received the DePaul University Excellence in Teaching Award.A A Jill Kickul A received the 2000 Management Department Teaching Innovation and Assessment Award. In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growtha??offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venturea??s potential for success and growth.A A A Key Features: Presents the changing pattern of strategic needs faced by the new venture: The theories, practices, and tools in this book help enhance a venturea??s creativity in the early days of business start-up and maintain the innovative edge throughout the life of the business. The authors emphasize the key strategic roles of creativity, opportunity identification, opportunity evaluation, and innovation in the emergence and growth of entrepreneurial firms. Offers real-world examples and contemporary cases: Each chapter contains up-to-date cases, Strategy in Action vignettes, Speaking of Strategy interviews with real-life entrepreneurs, and a Failures and Foibles segment to help readers learn from othersa?? experiences and missteps. Promotes innovative thinking: The Innovatora??s Toolkit and Strategic Reflection Points give students the opportunity to reflect on the material presented. In addition, Research in Practice sections provide a summary of recent research on the chapter topic. Includes instructor resources on CD available upon request: A This supportive CD contains PowerPoint slides, lecture outlines, sample syllabi, a guide to using the Special Elements in each chapter, and a listing of additional resources.A A IRCDs are available for qualified instructors only. To request an IRCD for this book please contact Customer Care at 1.800.818.7243 (6 am a?? 5 pm Pacific Time) or by emailing info@sagepub.com with course name and enrollment and your university mailing address to expedite the process. Intended Audience : This is an ideal core textbook for advanced undergraduate and graduate courses such as Entrepreneurship and New Venture Management, Entrepreneurship Strategy, Strategic Management, Entrepreneurial Growth, Management of Innovation, Entrepreneurial Marketing, and Global Entrepreneurship in the fields of Management, Entrepreneurship, Marketing, and Organizational Behavior. A A

Table of Contents

Foreword xii
Paige Arnof-Fenn
Acknowledgments xiv
Introduction xvi
PART I: ENTREPRENEURIAL STRATEGIES FOR THE EMERGING VENTURE
Entrepreneurship and Strategy: A Framework for New Venture Development
2(30)
Contemporary Entrepreneurship: Trends and Patterns
5(2)
Entrepreneurship That Matters: Social Value Creation
7(3)
Strategy in Action: Social Entrepreneurs---Doing Business With a Conscience
8(2)
Strategic Reflection Point: Exploring a Social Entrepreneurship Mission
10(1)
The Role of Innovation in Entrepreneurship Strategy
10(3)
Research in Practice: Small Firms and Innovation
10(1)
The Innovator's Toolkit: Are You Right for Entrepreneurship?
11(1)
Failures and Foibles: The Next Time I Start a New Venture . . .
12(1)
Beyond Traits: Scripting Our Own Entrepreneurial Strategies
13(3)
Whole Brain Thinking: An Introduction to Strategy for the Emerging Venture Using the 7-S Model
16(5)
Strategic Reflection Point: The 7-S's and Entrepreneurship
18(1)
The Innovator's Toolkit: Diagnostics for Entrepreneurial Systems Throughout the Venture's Life Cycle
18(3)
Summary of Chapter Objectives
21(9)
Case 1.1. Floral Design Business in Full Bloom
23(1)
Case 1.2. Speaking of Strategy: Southport Grocery and Cafe
24(6)
References
30(2)
Strategies for Opportunity Identification: The Creative Process
32(28)
Strategy in Action: Creating the Blissful Salon Experience
33(1)
Creativity and Entrepreneurship: Turning Ideas Into New Venture Opportunities
33(3)
Sources of Ideas for New Ventures
36(4)
Research in Practice: Which Came First---the Idea or the Ownership Decision?
39(1)
The Opportunity Search
40(10)
The Innovator's Toolkit: Just Ask!
42(4)
Strategic Reflection Point: Applying the SEARCH Process to Your Own Idea
46(1)
Failures and Foibles: Caviar, Anyone?
47(1)
Strategic Reflection Point: The Proactive Personality
48(2)
Building the Entrepreneurial Culture to Support Creativity and Innovation
50(1)
Summary of Chapter Objectives
51(7)
Case 2.1. Speaking of Strategy: Jacquelyn Corbett Cyr---Innovation by Design
53(2)
Case 2.2. Matthew Hinson: Changing the World of Student Employment
55(3)
Notes and References
58(2)
Strategies for Evaluating Opportunities: The Assessment Process
60(37)
Strategy in Action: Scott Cook, Founder of Intuit
61(1)
Opportunity Evaluation: Will the Idea for the New Venture Work?
62(1)
Four Primary Areas for Assessment
63(2)
The Innovator's Toolkit: Business Evaluation Scoring Technique (BEST)
64(1)
Assessing the Feasibility of the New Venture Idea
65(1)
Fourteen Questions to Ask Every Time
66(1)
Strategic Reflection Point: ALUO to Evaluate the New Venture Idea
66(1)
The Feasibility Analysis: Beginning the Evaluation Process
67(4)
The Innovator's Toolkit: Give Me Five
68(2)
Failures and Foibles: Knowing What's Not a Good Opportunity
70(1)
From KIC to OOPs: The Opportunity Organizational Proposal
71(5)
Research in Practice: New Venture Capabilities
76(1)
Summary of Chapter Objectives
76(9)
Case 3.1. Speaking of Strategy: Kate Spade
78(2)
Case 3.2. Andy Szatko: A Grassroots Approach to Entrepreneurship
80(5)
Notes and References
85(1)
Appendix 3.1. Sources for Industry and Market Research
86(4)
Appendix 3.2. Estimating Start-Up Expenses
90(7)
Developing New Venture Strategy: Preparation and Launch
97(34)
Speaking of Strategy: Red Hat---Bringing New Value and New Values to the Marketplace
98(1)
Strategic Planning and Entrepreneurship
99(1)
Entrepreneurship and Strategic Management: The Creation of Wealth and Value
100(1)
Creating the Strategic Vision: Articulating Need and Purpose
101(3)
The Innovator's Toolkit: Strategic Visioning
103(1)
Strategic Reflection Point: Communicating the Vision
104(1)
Values Creation: Developing Strategy in Good Company
104(4)
Research in Practice: A Comparative Study on the Ethics of Entrepreneurs and Managers
105(2)
Strategy in Action: The Truth According to Google
107(1)
Writing a Code of Ethics
108(3)
Failures and Foibles: Do's and Don'ts on Strategy From a CEO
109(2)
Summary of Chapter Objectives
111(18)
Case 4.1. JetBlue
113(5)
Case 4.2. Haldiram: A Family Entrepreneur Mastering the Intense Competition in the Indian Snack Market
118(11)
Notes and References
129(2)
Market Entry: Positioning the Firm for Strategic Advantage
131(41)
Speaking of Strategy: Travelocity and Innovation---How CEO Michelle Peluso and Her Team Make Decisions
132(3)
Designing Your Firm's Value Solution(s)
135(2)
The Innovator's Toolkit: Market-to-Market Creative Connections
136(1)
The Key Drivers Integral to Buyers' Demands and Expectations Within Your Industry
137(2)
Matrix Comparisons: Further Examining the Framework
139(2)
Strategic Reflection Point: Going Beyond the Map---Assessing a Competitor's Will
140(1)
Research in Practice: Pioneers and Followers---Competitive Tactics, Environment, and Firm Growth
141(1)
Developing the Go-to-Market Strategy
141(5)
Strategy in Action: Ciena Corporation---Developing the Go-to-Market Strategy for a Business Venture
143(2)
Failures and Foibles: Not All ``Joe'' Is Java
145(1)
The Strategic Plan Outline
146(3)
Strategic Reflection Point: Strategic Direction for ABC Company
148(1)
Strategic Positioning: From SWOT to TOWS
149(2)
Shifting the Focus of Strategy: Creating New Markets Versus Competing Directly
151(1)
Summary of Chapter Objectives
152(14)
Case 5.1. RentABook.com: A Strategic Analysis
155(11)
Appendix 5.1. Student Book-Buying Behavior Survey
166(1)
Appendix 5.2. RentABook.com Financial Statements
167(3)
References
170(2)
PART II: ENTREPRENEURIAL STRATEGIES FOR THE GROWING VENTURE
Financial Resource Capabilities
172(60)
Strategy in Action: Raging Bull
172(2)
The Differences Between Debt and Equity Financing: Two Similar but Separate Audiences
174(3)
Strategy in Action: On Understanding Debt Versus Equity
174(2)
Speaking of Strategy: Terra J. Sinkevicius and S & S Kid Express, Inc.
176(1)
Understanding the Financing Stages Along the Life Cycle of the Business
177(3)
Speaking of Strategy: Paul White, Novazone
178(2)
Further Descriptions of the Common Sources of Financing From a Debt Perspective
180(5)
Failures and Foibles: Truth and Consequences
184(1)
Preparing Your Information for the Lender
185(1)
Equity Investors: Angel Investors and Venture Capital Firms
186(13)
Speaking of Strategy: An Interview with Kathleen Elliott, Angel Investor
187(2)
Research in Practice: Venture Capitalists and Angels
189(2)
Strategic Reflection Point: Perspectives on Raising Venture Capital
191(6)
The Innovator's Toolkit: Catching the Investor's Attention
197(2)
All Told, Why Entrepreneurs Don't Get Funding
199(1)
Summary of Chapter Objectives
200(7)
Case 6.1. Benchmark Mobility, Inc.
202(2)
Case 6.2. Adam Makos and Ghost Wings: Making History by Sharing History
204(3)
Appendix 6.1. Explanatory Term Sheet Sample
207(12)
Appendix 6.2. Due Diligence Checklist Table
219(8)
Appendix 6.3. Additional Guidelines for Presenting Your Business Plan
227(4)
Notes
231(1)
The Evolving Management Team
232(31)
Strategy in Action: Potbelly Sandwich Works---Teamwork That Works
233(1)
Up and Running: Managing the Growing Firm
234(4)
Speaking of Strategy: Six Principles for Retaining Loyal People and Partners
237(1)
The Innovator's Toolkit: Creating a Collaborative Team Environment
238(1)
Building an Advisory Board: Seeking Advice and Advisers
238(3)
Research in Practice: The Role of Advice and Advisers
240(1)
Boards of Directors: Corporate Governance Considerations
241(3)
Failures and Foibles: Knowing When to Hire and Delegate
243(1)
Forms of Ownership: Legal Structure of the Organization
244(10)
Strategic Reflection Point: Entrepreneurial Leader Behaviors
252(2)
Summary of Chapter Objectives
254(7)
Case 7.1. College Nannies and Tutors: Taking Care of Business---and Families
255(6)
Note and References
261(2)
Building Networks and Strategic Alliances
263(31)
Speaking of Strategy: A Conversation With Julie E. LeMoine, President and Founder of U C How Technologies
264(2)
The Benefits and Outcomes of Creating and Sustaining Strategic Alliances
266(6)
Research in Practice: NFIB National Small Business Poll---Strategic Alliances
270(1)
Strategy in Action: Achieving Best ``Fit'' Among Partners and Resources
271(1)
With Whom Should You Partner?
272(2)
Failures and Foibles: Setting the Tone by Planting Weeds
273(1)
Understand the Value of Investing in the Social Capital That Can Drive Your Business
274(4)
The Innovator's Toolkit: Information Network Component Tool
275(3)
Strategic Reflection Point: Building Your Own Social Capital
278(1)
Summary of Chapter Objectives
278(14)
Case 8.1. FOX Relocation Management Corp.: Building a Code of Ethics Within a Networked Community
279(11)
Case 8.2. Laura McCann and Zweave: Building and Maintaining Social Capital
290(2)
Note and References
292(2)
PART III: ENTREPRENEURIAL STRATEGIES FOR SUSTAINING GROWTH IN THE ESTABLISHED VENTURE
Innovative Strategies for Entrepreneurial Growth
294(33)
Strategy in Action: Innovation Made E-Z---Annette Ricci and Reel E-Z Display, Inc.
295(1)
Strategies for Innovation: Incremental to Revolutionary Perspectives
296(5)
Strategy in Action: Constant Compliance, Inc. (2Ci)
298(2)
Speaking of Strategy: Technology for a Better World---Improving Life Through Innovation
300(1)
Strategic Thinking: Ideas for Future Expansion
301(1)
The Five Innovation Mistakes
302(4)
The Innovator's Toolkit: Challenging Your Assumptions for Breakthrough Thinking
303(2)
Failures and Foibles: Developing a Portfolio of Initiatives
305(1)
Maintaining an Innovation-Friendly Environment in the Established Venture
306(3)
Research in Practice: Benchmarking Best Innovation Practices
307(1)
Strategic Reflection Point: Expand Your Boundaries
308(1)
Summary of Chapter Objectives
309(16)
Case 9.1. Netflix
310(2)
Case 9.2. Neeta Narula and Ebony Department Stores: Continuing Entrepreneurship in an Indian Family Business
312(13)
Notes and References
325(2)
Strategies for the Growing Venture: Mergers, Acquisitions, Franchising, and Exit Strategies
327(34)
Speaking of Strategy: Carolyn Sanchez Crozier: CS&C-Julex Learning
328(1)
Mergers and Acquisitions: Growth Strategies of Promise and Peril
329(7)
Franchising: Growth Through Systems Creation
336(3)
The Innovator's Toolkit: Assessing Franchise Readiness
338(1)
Exit Strategies for the Entrepreneurial Firm
339(9)
Failures and Foibles: ProjectMine
340(2)
Strategy in Action: Christini Technologies, Inc.
342(2)
Strategic Reflection Point: Understanding the IPO Process
344(2)
Research in Practice: The Status of Women in Corporate Governance in High-Growth, High-Potential Firms
346(2)
Valuation of the Business
348(1)
Summary of Chapter Objectives
349(10)
Case 10.1. Noodles & Co., Franchising for Growth
351(2)
Case 10.2. The Lizard King of SoBe Beverages
353(6)
Notes and References
359(2)
Beyond the Strategic Entrepreneurial Model: Learning From Failure
361(26)
Speaking of Strategy: An Interview With Addie Swartz, CEO of Between Productions, Inc.
362(1)
The Other Side of Success: Rapid Growth
363(1)
Solutions for Problems During Rapid Growth
364(2)
Entrepreneurs and Failure: The Warning Signs
366(12)
The Innovator's Toolkit: Problem-Solving Checklist
366(2)
Strategy in Action: Is Your Business in Trouble?
368(4)
Research in Practice: Entrepreneurial Failures---A Research Overview
372(2)
Speaking of Strategy: Yomega and the Yo-Yo With a Brain
374(2)
Failures and Foibles: What-If, Inc. Versus Get-It-Right, Co.
376(1)
Strategic Reflection Point: Look Who Failed
376(2)
Learning From Failure
378(1)
Summary of Chapter Objectives
379(7)
Case 11.1. Ken and Michael Xie, Fortinet, Inc.
380(1)
Case 11.2. The Bay House Cafe: Against All Odds
380(6)
Notes and References
386(1)
Index 387(13)
About the Authors 400

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