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Full Description
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
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
