Summary: Patterns Of Entrepreneurship Management | 9781118358535 | Jack M Kaplan, et al
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Read the summary and the most important questions on Patterns of Entrepreneurship Management | 9781118358535 | Jack M. Kaplan; Anthony C. Warren
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1 The Entrepreneurial process
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What are commonly shared Entrepreneurial Characteristics?
- Ability to deal with Ambiguity
- Self-starters, optimist, perseverant, energetic, and action-oriented
- Persuasive leaders, people-oriented, natural networkers, and communicators
- Creative and highly imaginative
- Passionately seek New Opportunities and are always looking for the chance to profit
- Tolerate Risk
- Work with Urgency but balance this with a focus on Long-term goals
- Focus on Execution
- Open to Change and do not hang on to old plans when they are not working
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Which subtypes are there within the type of Entrepreneurs?
- Social entrepreneurs
- Technology entrepreneurs
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What are the basic five-stage entrepreneurial process?
- Conducting Opportunity Analysis
- Developing the Plan and Setting up the Company
- Acquiring Financial Partner/Sources of Funding
- Determining the Resources required and implementing the Plan
- Scaling and Harvesting the venture
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What are the activities in Stage 1: Conducting opportunity analysis?
- Innovative and Create the Vision
- Develop a Business Model to maximize value retention
- Conduct Market Analysis and Research
- Evaluate the Competition
- Research Pricing and Sales Strategies
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What are the activities in Stage 2: Developing the Plan and Setting up the Company?
- Set Goals and Objectives
- Start writing the Plan
- Determine Pricing, Market, and Distribution Channels
- Prepare the full Business Plan
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What are the activities in Stage 3: Acquiring Financial Partner/Sources of Funding?
- "Bootstrap" the company
- Secure Early-stage Funding
- Secure Growth Funding
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What are the activities in Stage 4: Determining the Resources required and implementing the Plan?
- Manage the Finances
- Determine value of Licenses, Patents, and Copyright
- Prepare the Organization for Growth
- Manage the Finances
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What are the activities in Stage 5: Scaling and Harvesting the venture?
- Communicate the Opportunity
- Discuss Options and Alternatives
- Sell or Merge
- Transfer Ownership to your family
- Go Public
- Form a Strategic Alliance
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2 The Art of Innovation
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What is a business model?
The frameworks in which a sustainable, high-profit company is constructed. -
What can Entrepreneur learn from Innovation?
- It is dificult to build a company around a single porduct idea without strong patent protection.
- Protective barriers must become part of any business model.
- Innovation is not a single event.
- Always imagine that there is someone having the same idea.
- Entrepreneur needs to solve customers' problems.
- It is dificult to build a company around a single porduct idea without strong patent protection.
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