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Entrepreneurship and Venture Creation

 

 

Targets: The entrepreneurial anxiety

  1. For those who have a lingering anxiety that comes with wanting to be one’s own boss;
  2. For those who live with the fear that someone else will capitalize on their targeted opportunity;
  3. For those who don’t just startup, but smartup—Peter Drucker pointed out that a large number of people start business, few of them are true entrepreneurs who avoid “copycat clone” with innovation;
  4. For those who want to apply their learned knowledge of business and management principles (definitions, academic models) to the real world; 
  5. For those who want to prove or disapprove the feasibility of venturing for a new business;
  6. For those who are an employee now and want to be better prepared for internal Corporate Entrepreneurship (Intrapreneurship);

 

The TPPCS Approach:

  1. Theory: new institutional economics, game theory;
  2. Psychology: cognitive bias, behavioral economics;
  3. Principles: entrepreneurship and general management;
  1. Cases: analytic examples;
  2. Stories: experience and personalities;

 

Focuses: One center and two supportive points:

  1. Sound business model—scale of profitability (revenue and cost models);
  2. Innovation in people/organization, financing, products/service, production, supply, and distribution (innovation relative to one’s past then to others)—Joseph Schumpeter’s Creative Destruction;
  3. Uninsurable risk: why capital employs labor—Frank Knight, Peter Drucker;

 

Logic:

  1. Opportunity is for a ready heart: Ideas, process, opportunities, and innovation;
  2. Business models: Customers, market, and profitability;
  3. Business plans: Planning and organization (Founders and forms of business);
  4. Funding the growth: Financing options and financial analysis
  5. Managing the growth: Marketing and competition;
  6. Strategic management: Legal, tax, IP, international considerations

 

Reference:

Textbooks and general reference -

  1. Jeffry A Timmons, Stephen Spinelli: New Venture Creation: Entrepreneurship for the 21st Century (McGraw-Hill/Irwin; 7 edition, 2006, 658 pages)
  2. Robert D Hisrich, Michael P Peters, and Dean A. Shepherd: Entrepreneurship (McGraw-Hill/Irwin; 7 edition, 2006, 672 pages)
  3. Michael J Roberts (Author), Howard H Stevenson (Author), William A. Sahlman (Author), Paul W. Marshall (Author), Richard G. Hamermesh: New Business Ventures And The Entrepreneur (McGraw-Hill/Irwin; 6 edition, 2006, 708 pages)
  4. William D. Bygrave, Andrew Zacharakis: The Portable MBA in Entrepreneurship (Wiley; 3rd edition, 2003,  500 pages)
  5. William D. Bygrave, Andrew Zacharakis: Entrepreneurship (Wiley, 2007, 613 pages )
  6. Stephen C. Harper: Extraordinary Entrepreneurship: The Professional's Guide to Starting an Exceptional Enterprise (Wiley, 2006, 436 pages)
  7. Joseph H. Boyett, Jimmie T. Boyett: The Guru Guide to Entrepreneurship: A Concise Guide to the Best Ideas from the World's Top Entrepreneurs (Wiley, 2000, 400 pages)
  8. Mark Casson, Bernard Yeung, Anuradha Basu, Nigel Wadeson: The Oxford Handbook of Entrepreneurship (Oxford University Press, USA (September 25, 2006, 808 pages)

Special topics -

  1. Scott A. Shane: The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By (Yale University Press, January 28, 2008, 224 pages)
  2. Scott A. Shane: Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures (Wharton School Publishing; Har/Cdr edition, July 29, 2004; 256 pages)
  3. Scott A. Shane: A General Theory Of Entrepreneurship: The Individual-opportunity Nexus (Edward Elgar Pub, July 4, 2004; 327 pages)
  4. Don Debelak: Business Models Made Easy (Entrepreneur Press; 1 edition, 2006, 240 pages)
  5. Peter F. Drucker: Innovation and Entrepreneurship (Collins; 1 edition, 1993, 288 pages)
  6. Kenneth H. Marks, Larry E. Robbins, Gonzalo Fernandez, John P. Funkhouser: The Handbook of Financing Growth: Strategies and Capital Structure (Wiley; 1 edition, 2005, 512 pages)
  7. Clayton M. Christensen: The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business (Collins, 2006, 320 pages)
  8. Clayton M. Christensen, Michael E. Raynor: The Innovator's Solution: Creating and Sustaining Successful Growth (Harvard Business School Press; 1 edition, 2003, 288 pages)
  9. Clayton M. Christensen, Erik A. Roth, Scott D. Anthony: Seeing What's Next: Using Theories of Innovation to Predict Industry Change (Harvard Business School Press, 2004, 312 pages)

Cases -

  1. Eric A. Morse, Ronald K. Mitchell: Cases in Entrepreneurship: The Venture Creation Process (Sage Publications, Inc, 2005, 448 pages)
  2. William D. Bygrave, Dan D'Heilly: The Portable MBA in Entrepreneurship Case Studies (Wiley; 1 edition, 1997, 336 pages)
  3. Roger Lowenstein: Buffett: The Making of an American Capitalist, Main Street Books (August 18, 1996, 496 pages)
  4. Alice Schroeder: The Snowball: Warren Buffett and the Business of Life, Bantam (September 29, 2008, 976 pages)