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Until recently, entrepreneurs have been largely ignored in modern economic theory. But at the dawn of a networked age, marked by the advent of e-business and the home office, there's no question that entrepreneurs have recaptured the popular imagination. Studies now show that most men and women dream of starting their own businesses rather than rising through the corporate ranks. Yet in spite of increased attention by many of today's leading business schools, entrepreneurship has remained largely a mystery, an apparantly intuitive sense of values possessed by certain individuals. This book targets the issues central to successful start-up ventures, such as endowments and opportunities, planning versus adaptation, securing resources, corporate initiatives, venture capital, revolutionary ventures and the evolution of fledgling businesses. Focusing on hard data and evaluations of numerous start-up businesses, including many of today's major industry leaders, this book presents a new economic model—a key to understanding the guts, determination, luck and skills that constitute the underpinnings of corporate success.
Written in clear, concise prose, The Origin and Evolution of New Businesses goes behind the charts and graphs of business theory tothe true heart of success. It is essential reading for business students, would-be entrepreneurs, or executives wanting to incorporate the vitality of the entrepreneul spirit into their organization.
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