Professional Documents
Culture Documents
Schermerhorn
Prepared by
Michael K. McCuddy
Valparaiso University
John Wiley & Sons, Inc
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Chapter 9
Entrepreneurship and New Ventures
Planning aheadstudy questions
What is entrepreneurship?
What is special about small businesses?
How does one start a new venture?
What resources support entrepreneurship and
business development?
Schermerhorn - Chapt
er 9
What is entrepreneurship?
Entrepreneurship
Strategic thinking and risk-taking behavior that
results in the creation of new opportunities for
individuals and/or organizations.
Entrepreneurs
Risk-taking individuals who take actions to
pursue opportunities and situations others may
fail to recognize or may view as problems or
threats
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er 9
What is entrepreneurship?
Entrepreneurs are
Founders of businesses that become large-scale
enterprises.
People who:
Buy a local franchise outlet
Open a small retail shop
Operate a self-employed service business
What is entrepreneurship?
Typical characteristics of entrepreneurs:
Internal locus of control
High energy level
High need for achievement
Tolerance for ambiguity
Self-confidence
Action-oriented
Desire for independence
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er 9
What is entrepreneurship?
Typical entrepreneurial backgrounds and
experiences:
Parents were entrepreneurs or self-employed.
Families encouraged responsibility, initiative, and
independence.
Try more than one business venture.
Relevant personal or career experience.
Become entrepreneurs between 22 and 45 years of age.
Seeks independence and sense of mastery.
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er 9
What is entrepreneurship?
Common myths about entrepreneurs:
Entrepreneurs are born, not made.
Entrepreneurs are gamblers.
Money is the key to entrepreneurial success.
You have to be young to be an entrepreneur.
You must have a degree in business to be an
entrepreneur.
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What is entrepreneurship?
Reasons for women becoming
entrepreneurs:
Being motivated by an entrepreneurial idea.
Having a new idea.
Doing for themselves what they were already
doing for other employers.
Prior employer not taking them seriously.
Glass ceiling issues.
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Executive summary
Industry analysis
Company description
Product and services description
Market description
Marketing strategy
Operations description
Staffing description
Financial projection
Capital needs
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Corporation
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enterprises
Intrapreneurship
Skunkworks
Business incubators
Small business development centers
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