The Origin and Evolution of New Businesses / Edition 1

The Origin and Evolution of New Businesses / Edition 1

by Amar V. Bhide
     
 

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ISBN-10: 0195170318

ISBN-13: 9780195170313

Pub. Date: 08/01/2003

Publisher: Oxford University Press


What is this mysterious activity we call entrepreneurship? Does success require special traits and skills or just luck? Can large companies follow their example? What role does venture capital play?

In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and

Overview


What is this mysterious activity we call entrepreneurship? Does success require special traits and skills or just luck? Can large companies follow their example? What role does venture capital play?

In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and economics. The result is a comprehensive framework for understanding entrepreneurship that provides new and penetrating insights. Examining hundreds of successful ventures, the author finds that the typical business has humble, improvised origins. Well-planned start-ups, backed by substantial venture capital, are exceptional. Entrepreneurs like Bill Gates and Sam Walton initially pursue small, uncertain opportunities, without much capital, market research, or breakthrough technologies. Coping with ambiguity and surprises, face-to-face selling, and making do with second-tier employees is more important than foresight, deal-making, or recruiting top-notch teams.

Transforming improvised start-ups into noteworthy enterprises requires a radical shift, from "opportunistic adaptation" in niche markets to the pursuit of ambitious strategies. This requires traits such as ambition and risk-taking that are initially unimportant. Mature corporations have to pursue entrepreneurial activity in a much more disciplined way. Companies like Intel and Merck focus their resources on large-scale initiatives that scrappy entrepreneurs cannot undertake. Their success requires carefully chosen bets, meticulous planning, and the smooth coordination of many employees rather than the talents of a driven few.

This clearly and concisely written book is essential for anyone who wants to start a business, for the entrepreneur or executive who wants to grow a company, and for the scholar who wants to understand this crucial economic activity.

Product Details

ISBN-13:
9780195170313
Publisher:
Oxford University Press
Publication date:
08/01/2003
Edition description:
New Edition
Pages:
432
Product dimensions:
9.10(w) x 5.90(h) x 1.10(d)

Related Subjects

Table of Contents


 Preface                                                                                    ix
Acknowledgments xix
I. The Nature of Promising Start-ups 25
Endowments and Opportunities 29 Planning vs. Opportunistic Adaptation 53 Securing Resources 69 Distinctive Qualities 90 Corporate Initiatives 114 VC-Backed Start-ups 141 Revolutionary Ventures 166 Summary and Generalizations 196
II. The Evolution of Fledgling Businesses 207 Missing Attributes 213 Existing Theories of Models 238 Critical Tasks 260 Exceptional Qualities 290
III. Societal Implications 317 Reexamining Schumpeter 319 Facilitating Conditions 338
Appendix 1: Background Information: 1989 Inc. 500 Study 371
Appendix 2: Partial List of Student Papers Written on Successful Entrepreneurs 376
Notes 381
References 387
Index 397

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