...to launch their ventures. Bootstrap financing refers to a range of creative ways to acquire resources without relying on borrowing money or raising equity from traditional sources (Freear et al., 1995a). The paper examines how successful technology entrepreneurs used bootstrap financing: the founders of Microsoft Corporation, Apple Inc., Dell Inc. and Research in Motion Ltd. The research investigates the elements of bootstrapping as described in Freear et al. (1995a) and in Winborg and Landström (2001), finding that entrepreneurs use bootstrapping extensively during the early stages of growth for both product and business developments. Bootstrapping methods change as the business develops with certain methods used more at the beginning of the life cycle, and different variations used as the business starts to grow. The study also points out that even the most successful technology-based consumer goods businesses relied on bootstrap financing at the early stages of their development. This technique deserves more attention from the scholarly community since it is certain to become more prevalent in the new credit and lending environment. Key words: Bootstrap financing, technology entrepreneurs innovation, Introduction Entrepreneurs have been around for as long as mankind has been involved in business. Identifying new business possibilities and exploiting them in new ventures for economic gain has always been an important activity in human life. Bootstrap...
Words: 5292 - Pages: 22
...assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares. In European law, the term 'joint-venture' (or joint undertaking) is an elusive legal concept, better defined under the rules of company law. In France, the term 'joint venture' is variously translated as 'association d'entreprises', 'entreprise conjointe', 'coentreprise' and 'entreprise commune'. But generally, the term societe anonyme loosely covers all foreign collaborations. In Germany,'joint venture' is better represented as a 'combination of companies' (Konzern)[1] On the other hand, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "co-venturers". The venture can be for one specific project only - when the JV is referred to more correctly as a consortium (as the building of the Channel Tunnel) - or a continuing business relationship. The consortium JV (also known as a cooperative agreement) is formed where one party seeks technological expertise or technical service arrangements, franchise and brand use agreements, management contracts, rental agreements, for ‘‘one-time’’ contracts. The JV is dissolved when that goal is reached. Some major joint ventures include Dow Corning...
Words: 7550 - Pages: 31
...BRIDGING THE VALLEY OF DEATH: LESSONS LEARNED FROM 14 YEARS OF COMMERCIALIZATION OF TECHNOLOGY EDUCATION ABSTRACT We argue for the increasing importance of providing graduate students skills in technology entrepreneurship and the commercialization of technology. We describe the lessons we have learned from fourteen years of developing commercialization of technology pedagogy and adapting it for use on four continents and within numerous corporations. We demonstrate that the straightforward theory-driven approach that we use to shape the curriculum improves our ability to learn from our mistakes and to structure small experiments to improve the pedagogy. INTRODUCTION Interest in the commercialization of technology and high technology entrepreneurship has increased significantly in the past decade. It is apparent that in many increasingly knowledge-based economies, effective managers will need to be better trained in dealing with technologists and in creating business growth and advantage through commercializing technology. Technical education faces new demands as well. For example, the National Academy of Sciences (COSEPP, 1995) issued a committee statement calling for rethinking graduate education for scientists and engineers to include the skills to promote the commercialization of technologies that they create. As interest in commercialization of technology has increased, so has academic research interest in this area. For example, the Journal of Product Innovation...
Words: 8941 - Pages: 36
...most important constraints to the growth and development of SME’s. Recent developments in our country, the global economic and financial crisis has further degraded the situation in the area and increased the pressure to find alternative sources of funding. Therefore, the search for alternative sources of funding has become increasingly common in recent years. It is based on the close co-operation between investors, intermediaries and entrepreneur. Crowdfunding is solicitation of funds which are collected in small amount from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause. It allow entrepreneurs to raise...
Words: 7021 - Pages: 29
...Need scantron and pencil 3-4 questions on Wyly 3-4 questions on videos shown in class 2 questions on guest lecture (nonIP) Plus PPts Importance of entrepreneurship to the economy * Small firms provide 60-80 percent of net new jobs and account for >50% of U.S. innovations * About 97 percent of U.S. exporters are small businesses with fewer than 500 employees * Based on research, ACQUIRED SKILLS ARE MORE IMPORTANT that specific inherent traits Entrepreneurial characteristics * Visionary; creative; innovative | * Adaptable; problem-solver; results oriented | * Persuasive; inspirational | * Confident; determined; a self-believer | * Competitive; ambitious; one who perseveres | * Honest | * Disciplined; hard working | * Organized; a planner; a decision-maker | * Understanding | * Leader; team player | * Networker/Sociable/Interpersonal Skills | * Opportunistic | Six Dominant Themes 1. Commitment and Determination (Persistence) 2. Leadership (Persuasion_ 3. Opportunity Obsession (Passion) 4. Tolerance of Risk, Ambiguity and Uncertainty 5. Creativity, Self-Reliance, and Adaptability (Resourcefulness) 6. Motivation to succeed (Action Organizational forms of business and tradeoffs Three basic legal forms of business: 1. Sole Proprietorship: A business owned and managed by a single person ADVANTAGES: * ~70% of all businesses, ~ 4% of revenue * Simple, Flexible...
Words: 2753 - Pages: 12
...submitted as an assignment elsewhere. [pic] Table of Contents Introduction - 2 - The initial consideration of what my vocation should be - 2 - An informed exploration of my vocation involves: - 7 - A critical reevaluation of the vocation I have ideated - 11 - A purposeful plan to help me achieve my vocational plan - 14 - References - 17 - Introduction The aim of this project is to envisage and test my vocation plan. In order to achieve that, in this paper, I will first conduct a close analysis of my vocation decision with reference to my personal profile. Afterwards, a relevant research including literature review and interviews of people who undertake similar professions will be carried out to examine if the vocation meets my expectation. Finally, after considering potential impediments and strengths, a strategic and purposeful plan of helping realizing my vocation will be made. It should be noted that finding one’s vocation could be a lifelong process. The vocation decided in this paper is based on the knowledge, experience and thoughts I possess at present stage. Therefore, the possibility of radical changing should be allowed. The initial consideration of what my vocation should be According to Weber, vocation refers to a commitment to a specialist area of work that the individual engages with in terms that almost equate with religious zeal (1958). Before I took this course,...
Words: 5845 - Pages: 24
...labels on 14th April. Globalization has dealt local fashion labels a bad hand. It used to be that fashion designers in Singapore could fill a niche between mass market apparel from the department stores and expensive luxury brands. David Wang, vice president of the Textile & Fashion Federation (TaFf), lived in that era. As a local fashion pioneer in the 80′s, the runway for him to maneuver was much wider. Global brands like Topshop, Uniqlo, and H&M were not around to compete for the Singaporean’s fashion budget. But the times changed. “During my time, Singaporeans had pride in local brands. The good old days are gone. Now they look at price,” he says, “they’re very practical. If they look at a dress from a local designer that’s $399, they won’t support her. They’d rather go to H&M to pick up an entirely new wardrobe.” While there’s a lot of hullabaloo these days about the power of e-commerce as a powerful, superlative, enabler for startups, David cautions that the Internet’s low barrier of entry results in more competition. Some blogshops, for example, offer cutthroat prices for their items. In the face of such a brutal environment, PARCO next NEXT was started in 2010 to prop up the local fashion scene. It is a fashion incubator that picks promising fashion designers and puts them under an 18-month training and mentorship program to learn the ropes of being a successful fashion entrepreneur. They’re incubating the third batch. What sets PARCO next NEXT apart from...
Words: 2090 - Pages: 9
...education will thus help students to utilize learned skills to generate self employment thereby reducing the population of our graduate seeking jobs to the barest minimum. This will also reduce the level of unemployment nationally. The materials in the book are contributed by scholars from different intellectual backgrounds to produce a rich and highly stimulating compilation. The book gives a vivid background of the history of entrepreneurship from the rudimentary to the modern age. It provides ideas on principles and skills involved in sustaining entrepreneurship, potentials of businesses and entrepreneurs, types of enterprises and contributions of entreprenures to local, national and global economy. 2.0 Course description The concept and scope of entrepreneurship; the nature and forms of business ownership in entreneurship; entreneurship in Nigeria: an overview; mega-entrepreneurs: a prosopographical historical study of nigerian entrepreneurship, 1850-2000; transnational corporations and...
Words: 57078 - Pages: 229
...Comperative Study of Corporate Social Activities of Bank And Non Bank Financial Institute Executive Summery This paper deals with some banks & non-banking financial institutions which are performing CSR. It is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. It would be give strategic, longer run competitive advantage for banks and non-banking financial institutions in Bangladesh to embrace CSR in their management approaches and operations, with initiatives chosen in broad-based, extensive stakeholder engagement. Corporate social responsibility may help to establish clear boundaries among the different interests of the groups like shareholders, citizens, providers, and customers. In this paper, we will describe, analyze, and formalize the critical responsibility parameters, as well as the variables that shape them. Introduction The title of our term paper is “Comparative Study on the Corporate Social Responsibility Performing by Banking, Non-Banking Financial Institutions” . Globally, the notion of Corporate Social Responsibility (CSR) is fast gaining acceptance as the contribution that businesses can and should make voluntarily...
Words: 17168 - Pages: 69
...Perdue Farms Ine.: Responding to Twenty-First-Century Challenges This case was prepared by George C. Rubenson and Frank M. Shipper, Salisbury University. I have a theory that you can tell the difference between those who have inherited a fortune and those who have made a fortune. Those who have made their own fortune forget not where they came from and are less likely to lose touch with the common man. -Bill Sterling Background and Company History The history seven themes: quality, isgrowth, dominated by of Perdue Farms Ine. geographic expansion, vertical integration, innovation, branding, and service. Arthur W. Perdue, a Railway Express agent and descendant of a French Huguenot family named Perdeaux, founded the company in 1920 when he left his job with Railway Express and entered The authors are indebted to Frank Perdue, Jim Perdue, and the numerous associates at Perdue Farms Inc., who generously shared their time and information about the company. In addition, the authors would like to thank the anonymous librarians at Blackwell Library, Salisbury State University, who routinely review area newspapers and file articles about the poultry industry-the most important industry on the DelMarVa peninsula. Without their assistance, this case study would not have been possible. This case is intended to be used as a basis for class discussion rather than as an illustration of either effective or ineffective handling of the situation. Reprinted by permission of...
Words: 9454 - Pages: 38
...which industries to compete in and how to compete in the selected industry? And finally some actions should be taken because decisions are of little use unless they are acted on. At the heart of strategic management is a very important question: “How and why do some organizations outperform others?” So the managers have a challenge to decide on strategies that provide advantages that can be sustained over time. Mr. Robert Lamb defines strategic management as: an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment. IMPORTANCE OF STRATEGIC PLANNING TO A BUSINESS Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go,...
Words: 6693 - Pages: 27
...Corporate Drive, Suite 400, Burlington, MA 01803, USA 525 B Street, Suite 1900, San Diego, California 92101-4495, USA 84 Theobald’s Road, London WC1X 8RR, UK Copyright © 2009, Elsevier Inc. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Permissions may be sought directly from Elsevier's Science & Technology Rights Department in Oxford, UK: phone: ( 44) 1865 843830, fax: ( 44) 1865 853333, E-mail: permissions@elsevier.com. You may also complete your request online via the Elsevier homepage (http://elsevier.com), by selecting “Support & Contact” then “Copyright and Permission” and then “Obtaining Permissions.” Library of Congress Cataloging-in-Publication Data Application submitted British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library. ISBN: 978-0-12-198581-3 For information on all Academic Press publications visit our Web site at www.elsevierdirect.com Printed in the United States 09 10 11 9 8 7 6 5 4 3 2 1 For Sasha Adeline and Dylan Jedi This page...
Words: 236635 - Pages: 947
...The Lauder GLobaL business insiGhT reporT 2014 rebalancing the Global economy Lauder-Report-2014.indd 1 12/18/13 12:07 PM Introduction The Lauder GLobaL business insiGhT reporT 2014 rebalancing the Global economy In this special report, students from the Joseph H. Lauder Institute of Management & International Studies examine current trends and recent developments shaping today’s global marketplace. The articles cover a wide variety of topics ranging from technology, innovation and brand building to infrastructure, entrepreneurship and social impact. A section on consumer markets looks at the popularity of e-cigarettes in France and elsewhere, efforts by Japanese firms to expand their businesses into Asia, new trends in French gastronomy, changes in Japan’s traditional food-consumption habits, and how a sector of the Chinese population is spreading, and spending, its newfound wealth. The report offers an analysis linking market-driven strategies with social impact in Peru and Colombia, as well as an article describing South Carolina’s embrace of innovative research. Other articles look at the Russian government’s attempt to reboot the city of Skolkovo as an innovation hub, the mixed success of innovation efforts in China, and the growing threat of cybercrime to businesses across the world. The challenges of infrastructure and planning are addressed in analyses of transportation in areas of Latin America, deficiencies in Brazil’s infrastructure, and real estate’s...
Words: 56733 - Pages: 227
...able to; Discuss the origin of Entrepreneurship Define the concept “Entrepreneur” List the roles and characteristics of an Entrepreneur State the motivational factors of Entrepreneurship. UNIT ONE: ORIGIN AND CONCEPTS OF ENTREPRENEUR AND ENTREPRENEURSHIP Objectives: At the end of this unit students should be able to; Compare and contrast the various definitions of Entrepreneur and Entrepreneurship. 1.2. Differentiate between Entrepreneur and Entrepreneurship. List five contributions to the study of Entrepreneurship. Introduction Businesses are any undertaking created for the purpose of creating utility. Utility is simply the satisfaction derived from consuming certain goods and services. Businesses are created by a special kind of labour which is also referred to as the entrepreneur. Entrepreneur is regarded as a special kind of labour because not all labour possesses entrepreneurial abilities which enable them to start a business from the scratch. Thus, entrepreneurship is simply the establishment of a new business or business enterprise or venture. This Unit looks at the development of the concept of entrepreneurship and the various ways in which this concept can be defined. Quick Review questions I. Businesses are not any undertaking created for the purpose of creating utility. True or False II. 1.3. Entrepreneur is regarded as a special kind of labour True or False Entrepreneurship – Origin ...
Words: 63960 - Pages: 256
...managing NOW! Gary Dessler Florida International University Jean Phillips Rutgers University Houghton Mifflin Company Boston New York To Samantha Vice President, Executive Publisher: George Hoffman Executive Sponsoring Editor: Lisé Johnson Senior Marketing Manager: Nicole Hamm Development Editor: Julia Perez Cover Design Manager: Anne S. Katzeff Senior Photo Editor: Jennifer Meyer Dare Senior Project Editor: Nancy Blodget Editorial Assistant: Jill Clark Art and Design Manager: Jill Haber Senior Composition Buyer: Chuck Dutton Cover photo credits Main image: © Bryan F. Peterson/CORBIS Lower left image: © Stockbyte/Getty Images Lower right image: © David Oliver/Getty Images Additional photo credits are listed on page 516. Copyright © 2008 by Houghton Mifflin Company. All rights reserved. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system without the prior written permission of Houghton Mifflin Company unless such copying is expressly permitted by federal copyright law. Address inquiries to College Permissions, Houghton Mifflin Company, 222 Berkeley Street, Boston, MA 02116-3764. Printed in the U.S.A. Library of Congress Control Number: 2007924351 Instructor’s exam copy : ISBN-13: 978-0-618-83347-4 ISBN-10: 0-618-83347-1 For orders, use student text ISBNs: ISBN-13: 978-0-618-74163-2 ISBN-10: 0-618-74163-1 1 2 3 4 5 6 7...
Words: 96057 - Pages: 385
