The Origin and Evolution of New Businesses

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Oxford University Press, 2000 - 412 páginas
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What is this mysterious activity we call entrepreneurship? Does success require special traits and skills or just luck? Can large companies follow their example? What role does venture capital play?
In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and economics. The result is a comprehensive framework for understanding entrepreneurship that provides new and penetrating insights. Examining hundreds of successful ventures, the author finds that the typical business has humble, improvised origins. Well-planned start-ups, backed by substantial venture capital, are exceptional. Entrepreneurs like Bill Gates and Sam Walton initially pursue small, uncertain opportunities, without much capital, market research, or breakthrough technologies. Coping with ambiguity and surprises, face-to-face selling, and making do with second-tier employees is more important than foresight, deal-making, or recruiting top-notch teams.
Transforming improvised start-ups into noteworthy enterprises requires a radical shift, from "opportunistic adaptation" in niche markets to the pursuit of ambitious strategies. This requires traits such as ambition and risk-taking that are initially unimportant. Mature corporations have to pursue entrepreneurial activity in a much more disciplined way. Companies like Intel and Merck focus their resources on large-scale initiatives that scrappy entrepreneurs cannot undertake. Their success requires carefully chosen bets, meticulous planning, and the smooth coordination of many employees rather than the talents of a driven few.
This clearly and concisely written book is essential for anyone who wants to start a business, for the entrepreneur or executive who wants to grow a company, and for the scholar who wants to understand this crucial economic activity.
 

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The origin and evolution of new businesses

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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 ... Leer reseña completa

Índice

I The Nature of Promising Startups
25
II The Evolution of Fledgling Businesses
207
III Societal Implications
317
Conclusion
360
Background Information 1989 Inc 500 Study
371
Partial List of Student Papers Written on Successful Entrepreneurs
376
Notes
381
References
387
Index
397
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Página x - The perfectly bureaucratized giant industrial unit not only ousts the small- or medium-sized firm and "expropriates" its owners, but in the end it also ousts the entrepreneur and expropriates the bourgeoisie as a class which in the process stands to lose not only its income but also what is infinitely more important, its function.
Página ix - Seventy years ago the corporation was still confined to those industries— railroading, steamboating, steel-making, petroleum recovery and refining, some mining— where, it seemed, production had to be on a large scale. Now it also sells groceries, mills grain, publishes newspapers and provides public entertainment, all activities that were once the province of the individual proprietor or the insignificant firm.

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Sobre el autor (2000)


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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