...ENTREPRENEURIAL VENTURE (FOR SHELL FOOD & GAS STATION) Executive Summary/Proposal: wheeling is a small town with a population 3,400. Located on rural Highway 255, the town is 30 miles south of the city of Chicago and 34 miles north of the city of Wisconsin. Highway 255 connects Chicago and Wisconsin that both have universities and a cumulative population of 200,000 residents. The highway is the main road through town and is used daily by thousands of commuters between the two cities. These commuters sustain a number of road side businesses on Highway 255 that sell flowers, produce and bakery products. In order to get gas in the Wauconda area, commuters currently have to leave the highway and drive three miles into the edge of town. Shell gas station's Food and Gas will offer these commuters gas, organic produce, and a deli. On the way to work, a commuter could stop for gas and pick up a sandwich. On the way home, the same commuter could stop again to pick up something for dinner. Objective: •To capture an increasing share of the commuter traffic passing through Wauconda. •To offer our customers superior products, at an affordable price. •To provide customer service that is second to none •Good quality products at competitive prices. •Excellent customer service that will promote customer loyalty. •A location that will assure that commuters will stop. Mission The mission of Shell’s Food and Gas is to offer commuters...
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...impact that Entrepreneurial Networks will have on the Novice Nascent Entrepreneur setting up Business for the first time Introduction The extent to which entrepreneurial networking has an impact on the nascent entrepreneur is an interesting hypothesis. There is evidence to suggest that the nascent entrepreneur is reliant on the use of networking, yet other evidence states that the success of this type of entrepreneur stems from contrary elements. "Entrepreneurial networks provide a framework for processes aiming at organising resources according to opportunities" (Johannisson & Monsted 1997, p109). This definition clearly states what the use of entrepreneurial networking sets out to do, and is supported by the assumption that networking is the "acquisition of entrepreneurial skills" (Martinez & Aldrich, 2011, p7). This report sets out to assess the impact of which entrepreneurial networking has on the nascent entrepreneur: "Individuals who are in the process of starting up new ventures" (Renko, 2012, p1045). In the following report, an investigation as to what classification of impact that entrepreneurial networking has on the entrepreneur will be assessed. Based on academic research, a definitive conclusion will be made and a judgement of the usefulness and level of impact these networks have will be assessed throughout. The report will take into account the difference between academic opinions, and note that many academics believe that entrepreneurial networks...
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...The past thirty years have witnessed the most powerful emergence of entrepreneurial activity in the world. Entrepreneurs are now described as aggressive catalysts for change in the world of business; individuals who recognize opportunities where others see chaos, contradiction, or confusion. They have been compared to Olympic athletes challenging themselves to break new barriers, to longdistance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. The U.S. economy has been revitalized because of the efforts of entrepreneurs, and the world has turned now to free enterprise as a model for economic development. The passion and drive of entrepreneurs move the world of business forward as they challenge the unknown and continuously create the future (Kuratko, 2002). Several methods have been used to measure the impact of entrepreneurial ventures on the economy—for example, efforts to start a firm (which may not be successful), incorporation of a firm (which may never go into business), changes in net tax returns filed (reflecting new filings minus filings no longer received), and a substantial amount of full-time and part-time self-employment. According to the Small Business Administration, 672,000 new businesses were created in 2005; the largest in US history (even 12% higher than the...
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...Factors influencing entrepreneurial intensity in communities Sibylle Heilbrunn Department of Business Administration, Ruppin Academic Center, Israel Abstract Purpose – The purpose of this paper is to explore the factors influencing entrepreneurial intensity. More specifically the study addresses the following objectives: propose a way to measure entrepreneurial intensity within the community context in order to determine entrepreneurial activity over a period of ten years, detect the factors influencing the entrepreneurial intensity, and finally locate Kibbutz communities on the entrepreneurial grid. Design/methodology/approach – Kibbutz communities are the level of analysis. Using a comprehensive questionnaire, a sample of 60 Kibbutzim – constituting 22 percent of the population of Kibbutz communities in Israel – was investigated over a period of ten years. The same questionnaire was administered to the same sample Kibbutzim (Kibbutzim is the plural of Kibbutz) in 1994, 1997 and 2004. Collected data include number and types of enterprises, economic strength, organizational size and age, and features of organizational structure and culture. Findings – Quantitative data analysis revealed a significant increase of entrepreneurial activity of Kibbutz communities in terms of frequency, degree and intensity of entrepreneurship. Organizational size and age have an impact on entrepreneurial intensity as well as the existence of an “entrepreneurial vehicle.” On the entrepreneurial grid Kibbutzim...
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...A Systematic Approach to Writing and Rating Entrepreneurial Business Plans KEVIN HINDLE AND BRENT MAINPRIZE KEVIN HINDLE is a professor of entrepreneurship at the Australian Graduate School of Entrepreneurship, Swinburne University of Technology. Melbourne, Australia. khindle@swin.edu.au BRENT MAINPRIZE is the core professor of entrepreneurship in the Faculty of Management at Royal Roads University in British Columbia, Canada. brent.inainprize@royalroads.ca T here is a small but growing b o d y of research that details many desirable attributes a n d qualities that, at a general level, any entrepreneurial business plan should contain. It is a reasonable proposition that this research, and any principles it may contain, can and should provide the basis for a systematic approach t o b o t h the writing and evaluation of entrepreneurial business plans. Despite this, the majority of entrepreneurial business plan writing and evaluation is unsystematic—if systematic is taken to mean "based o n empirical evidence and developed theory." T h e vast majority of the a b u n d a n t literature on " h o w to write a successful business p l a n " is n o t research-based (Hindle [1997]). T h e espoused criteria of its authors far o u t weigh the formal application of the k n o w n attributes of successful ventures (Hindle and Mainprize [2002]). This article seeks to articulate a research-based system for assessing the c o n t e n t quality of e...
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...SOLD TO THE FINE kaptoxic@yahoo.com THE OPPORTUNITY ANALYSIS CANVAS Dr. James V. Green Copyright © 2013 by Venture Artisans Press All rights reserved. No part of this book may be reproduced in any form, by Photostat, microform, retrieval system, or any other means, without prior written permission of the publisher. www.opportunityanalysiscanvas.com Publication Data Green, James V. The opportunity analysis canvas / James V. Green Edition 1.0 1. Entrepreneurship 2. Innovation i For Jamesia and Ally Thank you for giving me the opportunity every day to be a husband and dad. ii ABOUT THE AUTHOR An award-winning educator at the University of Maryland, Dr. James V. Green leads the education activities of the Maryland Technology Enterprise Institute. As its Director of Entrepreneurship Education, he manages 25 undergraduate and graduate courses in entrepreneurship, innovation, and technology commercialization. He has created and led a host of innovative programs and activities to serve 100,000 innovators and entrepreneurs from 150 countries. With 20 publications, he is a thought leader in entrepreneurship education pedagogy and entrepreneurial opportunity analysis. In 2011, he earned first prize in the 3E Learning Innovative Entrepreneurship Education Competition presented at the United States Association for Small Business and Entrepreneurship (USASBE). In 2013, he launched the University of Maryland’s first course with Coursera, “Developing...
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...risk for the sake of potential return (Mariotti & Glackin, 2012). The entrepreneur is an innovator who brings about change through the introduction of new technological processes or products, and thus, through innovation, the entrepreneur is a “deliberate wrecker of equilibrium.” Successful entrepreneurship is associated with a high degree of practical intelligence, creative abilities, and business talent, characteristics which Shavinina (2006) refers to as “entrepreneurial giftedness” (p. 225)--talented individuals who exceptionally succeeded in business by creating new ventures. According to Darling, Gabrielsson, and Seristo (2007), entrepreneurial management leadership is all about “breaking new ground, going beyond the known, and helping to create the future.” Also, entrepreneurial management leadership is about helping people settle into new opportunities that give them joy and hope for the future. The keys to entrepreneurial success are not intelligence, education, lifestyle or background. Rather, entrepreneurial success is determined, in most part, by the entrepreneur’s “ability to effectively deal with opportunities through the dynamics of an organizational setting, thereby enabling the people concerned to be actively and enthusiastically involved and successful” (Darling, et al., 2007). Therefore, successful entrepreneurs are those who strive to establish a conducive environment that is supportive of associates and...
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...Strategy in Entrepreneurial Ventures A case study by, Arun Venkatachalam FT MBA 2009/10 May, 2010 Table of Contents 1. 1.1. 1.2. 1.3. 1.4. 2. 2.1. 2.2. 2.3. 2.4. 2.5. 3. 3.1. 3.2. 3.3. 3.4. 4. 4.1. 4.2. 4.3. 5. BACKGROUND ....................................................................................................................................... 3 Who or What is ‘LOVEFiLM.COM’? ................................................................................................. 3 Why are they considered a high growth entrepreneurial company? ..................................................... 4 Where they are currently? .................................................................................................................... 6 What is the basis for this report? .......................................................................................................... 6 BEGININING OF ‘LOVEFiLM.COM’ .................................................................................................... 7 The Innovative Online Business Opportunity ...................................................................................... 7 The Market Analysis of 2001/2002 ...................................................................................................... 9 Strategic Analysis of the Business Environment ................................................................................ 10 Competitor Analysis ...........................................
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...Lean Start-Ups and Creating an Entrepreneurial, Innovating Economy Missouri Southern State University Abstract Whenever a new venture creation business starts, whether it be a brand new company to a previously established business looking to expand its horizons, failure is almost inevitable. But, thanks to the lean start-up business model, success rates have been increasing and showing great results. The lean business model provides, in a way, a safety net during the testing the hypotheses stages of a new venture to where if failure is detected, corrective action can be taken immediately with minimal risk involved due to testing. In today’s economy, employment can be tricky, thus creating an environment where new venture creation along with a lean business model can help to create an entrepreneurial, innovating economy. Lean Start-Ups and Creating an Entrepreneurial, Innovating Lean start-ups are becoming more popular, spreading from just young tech ventures to big, already established companies due to better rates of success compared to traditional business models. When companies use lean business models, they lead the way for an economy that becomes based off of innovation. This paper will discuss lean start-ups and the process of creating an entrepreneurial, innovating economy. Schemerhorn and Bachrach (2015) states three stages to the life cycles of entrepreneurial firms that all entrepreneurs encounter. Those stages being the birth, breakthrough and maturity...
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...identified strategies most frequently used by their managers. These strategies were identified using the Entrepreneurial Strategy Matrix, a situational model in which the identification of levels of innovation and risk lead to prescriptions of appropriate strategies. Concurrently, this model was empirically tested and its validity supported. Of the strategies used, the five most common were: “work to create a competitive advantage,” “maintain innovation,” “lower the costs of developing and/or maintaining one’s venture,” “defend product/service as it is now,” and “create a first mover advantage.” In addition, there were no differences between the use of strategies by entrepreneurs in service and manufacturing industries. CHAPTER 1 – THE PROBLEM AND ITS BACKGROUND INTRODUCTION There is a comprehensive body of literature on strategic planning (Porter 1996), the effects of strategic planning on performance (Veliyath and Shortell 1993), and the effects of strategic planning on small business performance (Covin and Slevin 1991; Watts and Ormbsy 1990). Much of the research on the effects of strategic planning on small business performance focuses on comparing differences between those that conduct formal planning and those that do not (Robinson and Pearce 1983). However, this study found no empirical investigations that focus on non-formal small business entrepreneurial planners, nor any that identify the wide variety of strategies used by them. The most common strategy construct...
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...BPP Business School Finance Department Financing Entrepreneurial Initiatives Module Outline 1. Module Details It is a Level 7 (Master’s Level) elective module with 15 credits. As a pre-requisite students need to have taken Financial Statement Analysis or an equivalent Accounting course. There will be 10 sessions, 3 hours each every week. Tim Wiscarson will teach the course. 2. Aims and Objectives The course aims to provide students with a strong foundation in evaluating different business models and opportunities and understand the various ways unlisted companies can be built and listed. It is designed to expose the student to many different kinds of situations involving a critical evaluation of the business, for the purpose of determining its value and for seeking financing. It shows how the various financing and investment activities can have an impact on the structure, operations as well as the future of the business. 3. Syllabus 1. Outline The module aims to provide the students with an overview of analysis and valuation of different business models and entrepreneurial opportunities. It introduces different types and sources of financing and the various elements involved from both the management as well as the investor point. It aims to develop the students’ skills in addressing financing and investment issues within an entrepreneurial company and understand how to approach the market investors. As such it targets to enhance...
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...Development Franchising as a Social Innovation: When Entrepreneurial Expertise is Lacking Isaac H. Smith David Eccles School of Business University of Utah Kristie K. Seawright Marriott School of Management Brigham Young University Contact: Isaac H. Smith; isaac.smith@business.utah.edu; (T) 801-518-2991; 1645 East Campus Center Drive, 22 KDGB, Salt Lake City, UT 84112 Promoting entrepreneurship in “developing” nations has become a popular strategy for alleviating poverty and stimulating economic development (Khandker, 2005). For example, the worldwide proliferation of microfinance institutions is based on the assumption that providing individuals with better access to financial capital will fuel entrepreneurship and microenterprises, providing opportunities for people to work their way out of poverty. The results of such efforts, however, have been mixed (Snow & Buss, 2001), in part, because not all microfinance borrowers have the entrepreneurial skills sufficient to make a microenterprise succeed (Karnani, 2007a). Cross culturally, successful entrepreneurs have been shown to possess a different set of knowledge structures, or mental schema, than non-entrepreneurs (Mitchell, Smith, Seawright, & Morse, 2000). Interestingly, franchisees—often considered to be entrepreneurs (e.g., Baucus, Baucus, & Human 1996; Grunhagen & Mettelstadedt, 2005)—have been found to have entrepreneurship-related knowledge structures more closely resembling non-entrepreneurs than entrepreneurs...
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...2 The Entrepreneurial Process "Who can be on entrepreneur you ask? Anyone who wants to experience the deep, dark canyons of uncertainly and ambiguity, and who wonts to walk the breathtaking highlands of success. But caution, do not plan to walk the Iotter until you hove experienced the former" An entrepreneur Results Expected Upon completion of this chapter you will have: l. Developed a definition of entrepreneurship and the entrepreneurial process that spans lifestyle to high potential ventures. 2. Examined the practical issues you will address and explore throughout the book. 3. Learned how entrepreneurs and their financial backers get the odds for success in their favor, defYing the pattern of disappointment and failure experienced by many. 4. Examined the Timmons Model of the entrepreneurial process, how it can be applied to your entrepreneurial career aspirations and ideas for businesses, and how recent research confirms its validity. Demystifying Entrepreneurship Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. 1 Entrepreneurship results in the creation, enhancement, realization, and renewal of value, not just for owners, but for all participants and stakeholders. At the heart of the process is the creation and/or recognition of opportunities, 2 followed by the will and initiative to seize these opportunities. It requires a willingness to take risksboth personal and financial-out...
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...1.1 What is Venture Capital? Venture capital is a segment of private equity industry, which focuses on early-stage, high-potential, start-up companies. The venture capital fund earns money by owning equity in the companies it invests in, which usually have a new technology or business in high technology industries, such as biotechnology and IT, however with high risk. Funds are typically established as limited partnerships, which is a contract between institutional investors who become limited partners and the fund manager. The basic intermediation structure of venture capital and private equity funds is graphically summarized in Figure 1. Figure.1 Venture Capital Financial Intermediation Venture capital is a specific form of industrial finance(part...
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...Entrepreneurship Part 1: The Entrepreneurial Manager Spring, 2011 授課教師： 郭瑞祥 Andy Guo (台大工商管理學系/商研所教授) Room：Room 813, building 2, Management school Email ： rsguo@ntu.edu.tw Website：guo.ba.ntu.edu.tw Course Descriptions This course is about The Entrepreneurial Manager (TEM), and it is designed to focus on the Entrepreneur as a manager and the processes and techniques he or she uses to manage. In practice this means that in every case there is a person who must make some decisions and take the necessary actions to implement those decisions. There is a very important role in the course for analytical tools and conceptual frameworks, but they are to be applied only to the extent that they help the manager make good decisions and develop realistic action plans that can be implemented and communicated to employees and investors. The Entrepreneurial Manager Course is structured in three modules: • • • Introduction: What is an entrepreneurial manager? Fundamentals for the entrepreneurial manager Managing the growing venture Reference Book • 「Finding Fertile Ground」 ，by Scott Shane，Wharton School Publishing Grading Policy • • • Class participation 22% Case reports and group presentation 48% Mid-term exam 30% 1 Course Topics Overview Date Subject Innovation and Entrepreneurship Entrepreneurial manager + guest speech Opportunity identification Business model and strategy Access source of financing +guest speech Entrepreneurial team and management (1) Entrepreneurial team 4/8 and management...
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