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Chapter 6: Risk, Return, and Product Design
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A new venture that creates a novel solution to a problem will
be subject to uncertainty of outcome. It is the entrepreneur’s task to reduce and manage all risks as much as possible. Furthermore, product design and development, which is concerned with the
concrete details that embody a new product, can add significant value to the
product offered to the customer.
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Chapter 7: Corporate Technology Ventures
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There are many types of new ventures, ranging from a small business or
consulting firm to a high-growth start-up. Important social organizations are
often established as nonprofit ventures. Other new ventures emerge
within larger existing corporations and are granted autonomy so they can fulfill
their promise.
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Chapter 8: Creating New Ventures and the Business Plan |
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Entrepreneurs respond to attractive opportunities by forming new ventures. In
this chapter, we consider the various organizational and legal forms that
entrepreneurs employ to achieve their objectives using a five-step process for
establishing a new venture. We also describe the tasks and benefits accrued by a
socially responsible firm.
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Chapter 9: Building Knowledge and Learning in a New Enterprise |
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Knowledge is power. Knowledge assets and intellectual capital are potential
sources of wealth. The creation and management of knowledge can lead to new,
novel applications and products. Sharing knowledge throughout a firm can enhance
the firm’s processes and core competences, thus making the firm more innovative and competitive.
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| Chapter 10: Legal Formation and Intellectual Property |
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| When entrepreneurs establish a new business, they must make some critical decisions about the detailed elements of the firm. The choice of a legal form, name, logo, and other formal elements are critical to a successful future. Furthermore, there should be a plan to build and protect the intellectual property of the new venture. |
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