Entrepreneurship DefinedTwo DefinitionsObstacles to EntrepreneurshipA Framework for EntrepreneurshipSelecting a BusinessThe Three QuestionsEvidence for DemandEvidence that It Can CompeteEvidence of ProfitabilityBy Next Week . . .PowerPoint PresentationEntrepreneurship DefinedMHR 423Fall 2003Two Definitions“The pursuit of opportunity without regard to resources currently controlled” (Stevenson et al)“The creation of an innovative economic organization for gain or growth under conditions of risk and uncertainty” (Dollinger)Obstacles to EntrepreneurshipA Framework for EntrepreneurshipNEWVENTURECREATIONIndividual CharacteristicsEnvironmental Resources and EnablersOrganizational Strategies and ProgramsEnvironmental Constraints – Barriers to EntrySelecting a BusinessWhat makes for a good choice?The Three QuestionsIs there a demand for the product?–Where is the evidence?Can the product (company) compete in the marketplace?–How do you know?Can the company make money?–Will the enterprise be profitable and be able to sustain a positive cash flow?Evidence for DemandEvidence that It Can CompeteEvidence of ProfitabilityBy Next Week . . .Find a business idea or company on which to do your business plan–Get it approved by meTake a look at the three assigned texts–Also download and read the handouts for the course on my websiteTake a look at the software, Business Plan ProAny
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