Entrepreneurship: Starting, Growing and Maintaining Innovative Ventures

This comprehensive yet practical and engaging text provides readers with the fundamental knowledge, insights, concepts and tools that are essential in starting, growing and scaling ventures. The text is designed to prepare business and non-business students for the wide array of issues and situations they might confront during the venture creation, growing and scaling processes. Hence, it provides strategies and techniques that will help them: search for ideas; screen ideas for opportunities; plan to exploit opportunities; set up and start the venture; scale operations; grow the venture and; harvest the value created in the business. Readers will find that the text focuses on value creation as the driver of the entrepreneurial process. Topics covered include: Fundamentals of entrepreneurship The venture formation process Business format selection Pre-launch Documents and protection systems Opportunity identification and value assessment Concept assessment and development Creativity, innovation and idea generation techniques Implications of blockchain on innovation and entrepreneurship Design Thinking Corporate entrepreneurship Venture team development Business plan development Developing winning business models Venture financing Venture financial analysis Valuation of entrepreneurial ventures Exit and harvesting strategies Franchising and the franchise relational model

Table of Contents:
Chapter 1 Entrepreneurship Fundamentals Entrepreneurship Fundamentals The Entrepreneur Corporate Entrepreneurship and the Intrapreneur Social Entrepreneurship Entrepreneurial Risks The Entrepreneurial Process Opportunity Entrepreneurial Concept Resource Determination and Acquisition Implementation and Management Venture Harvesting Factors Necessary for Entrepreneurship Chapter 2 Selecting the Company Structure: Legal Foundation and Protection Introduction Business Formats and the Entrepreneur Owners' Remuneration: Classification and Treatment Business Formats Most Common Business Formats Sole Proprietorship Partnerships General Partnership Limited Partnership Limited Liability Partnership Limited Liability Company Corporation Less Common Business Formats S-Corporation Nonprofit Corporation Benefit (B) Corporations Chapter 3 The Entrepreneurial Team Introduction Team Development: The Guiding Forces Venture Team Composition Organizing Teams by Business Functions Outside Support Functions The Advisory Board Team Members Fiduciary Responsibilities and Safeguarding Venture's Assets Chapter 4 Business Plan Development Introduction General Guidelines Elements of a Business Plan Description of Each Component The Executive Summary Industry Dynamics The Concept and Company Description Market Analysis The Economics of the Business Marketing, Selling, and Distribution Management Team Operations Plan Venture Schedule Financial Projections—Proforma Critical Risks, Problems, and Assumptions Chapter 5 Documents, Protections and Systems Needed Prior to Launch Introduction Naming the Venture and Domain Names Registering and Protecting the Venture's Name Selecting the Jurisdiction for Venture Registration Recordkeeping Banking and Payment Systems Licenses and Permits Insurance Obtaining State and Federal Tax Identification Numbers The Data Universal Numbering System (DUNS) Chapter 6 Franchising: A Business Strategy for Growth and Ownership Franchising in Service Industries Franchise Elements Types of Franchise Agreements Franchise Fees and Costs Franchise Relationships Advantages and Disadvantages of Franchising Chapter Summary Chapter 7 Asset Management-Supplemental Chapter Introduction Lodging Asset Investment Hotel Asset Management and the Role of Asset Managers Lodging Asset Management Components Chapter Summary Index