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Venture Opportunity, Concept, and Strategy

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Submitted By badarkhan
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P A R T 1

Venture Opportunity, Concept, and Strategy

Entrepreneurs have important roles in creating new businesses that fuel progress in societies worldwide. The entrepreneur uses innovation and technology to foster positive impact and activity in all facets of life. The capable entrepreneur learns to identify, select, describe, and communicate the essence of an opportunity that has attractive potential to become a successful venture. The entrepreneur is able to describe the valuable contributions of a venture and create the design of a business model that can be sustained by a competitive advantage. The venture team creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■

C H A P T E R 1

Economic Growth and the
Technology Entrepreneur

There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy

|||||What drives global entrepreneurship?||
|C H A P T E R O U T L I N E||||
|||||
|||||ntrepreneurs strive to make a difference in||
1.1|The Entrepreneur’s Challenge||||
1.2|The Entrepreneur||our world and to contribute to its better-||
||Ement. They identify opportunities, mobi-||
1.3|Economics and the Firm|||
|||lize resources, and relentlessly execute on their||
|||visions. In this chapter, we describe the character-||
|||istics of the people called entrepreneurs and the||
|||process they use to create new enterprises. We||
|||identify firms as key structures in the economy and||
|||||
|||the role of entrepreneurship as the engine of eco-||
|||||||
|||||nomic growth. New technologies form the basis of||

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