The Origin and Evolution of New Businesses / Edition 1

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Overview

Few would argue the crucial role that entrepreneurs play in our increasingly global economy — but exactly what is this vital, yet loosely defined business force we call the entrepreneurial spirit? This landmark study is the first to examine analytically the nature of the opportunities that entrepreneurs pursue, the problems they face, the traits they require, and the social and economic contributions they make.

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.

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Editorial Reviews

Library Journal
The entrepreneurial function has long been overlooked both by economists and business theorists, though courses in entrepreneurship are increasingly popular in business schools. Bhid (Harvard Business Sch.) draws on both of those disciplines for theory, which he then extends through the analysis of data from 100 interviews with leaders of high-growth companies. This groundbreaking work shows the complementary roles held by innovative startup companies in areas with high uncertainty and little financial investment and by more established companies, which focus on large-scale projects with more certain payoffs. The characteristics of promising startups and their founders are carefully outlined and contrasted with those of more established firms, and Bhid explains why so few firms make the transition from successful startup to ongoing large enterprise. Offering a wealth of avenues for future research as well as insights for potential entrepreneurs, this book is sure to be cited for years to come.--A.J. Sobczak, Covina, CA Copyright 1999 Cahners Business Information.
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Product Details

  • ISBN-13: 9780195170313
  • Publisher: Oxford University Press
  • Publication date: 8/1/2003
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 432
  • Sales rank: 1,102,322
  • Product dimensions: 9.10 (w) x 5.90 (h) x 1.10 (d)

Meet the Author

Amar Bhide, an associate professor on leave from Harvard Business School, is teaching at the University of Chicago. A former consultant at McKinsey & Company and proprietary trader at E.F. Hutton, Bhide received a doctorate and an M.B.A. from the Harvard Business School, where he was a Baker Scholar, and a B.Tech. from the Indian Institute of Technology. He has written eight Harvard Business Review articles, papers on corporate governance in the Journal of Financial Economics and the Journal of Applied Corporate Finance, and the book Of Politics and Economic Reality.

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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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