This book offers students a comprehensive, accessible guide to launching and managing a new venture. Beginning with the planning process and continuing to marketing, financing, and growth, it gives students the insights and practical skills they need to be successful entrepreneurs.
This edition's structure aligns more logically with the venture's lifecycle, so the reader is equipped to develop a strong business model. The authors combine updated planning exercises, end-of-chapter consultation questions, and a sample business plan with new material, including:
- a new chapter on ideation, the Business Model Canvas, and lean start-up that covers the latest methodology in idea generation and opportunity recognition to provide a tool for developing a business concept;
- a new chapter on the various pathways for creating a new venture, including setting up an online venture as well as managing the day-to-day aspects of running a business;
- a revised chapter on start-up capital and crowdfunding that helps students raise capital through social media;
- a revised chapter on managing growth through HR planning, helping students to navigate growth on a global level successfully and ethically.
Students in entrepreneurship and new venture management classes will find New Venture Management a valuable resource. A companion website features an instructor's manual, test bank, PowerPoint slides, and further resources to aid instructors and students in applying their knowledge.
Donald F. Kuratko is the Jack M. Gill Distinguished Chair of Entrepreneurship, Professor of Entrepreneurship, and the Executive and Academic Director of the Johnson Center for Entrepreneurship and Innovation at the Kelley School of Business at Indiana University, USA. He has authored 190 articles and 30 books, including one of the leading entrepreneurship books in the world.
Jeffrey S. Hornsby is Executive Director of the Regnier Institute for Entrepreneurship and Innovation, and Chair of the Department of Global Entrepreneurship and Innovation at the Bloch School of Management at the University of Missouri-Kansas City, USA. He has authored or coauthored over 140 articles and five books on entrepreneurship, innovation, and human resource management topics.
Part I: New Venture Opportunities
1. New Ventures: The Quite Giant
2. Ideation: The Concept
3. Venture Choices: The Pathways
Part II: New Venture Development
4. Marketing: The Customer
5. Legal Considerations: The Parameters
6. Strategic Pricing: The Hook
Part III: New Venture Finances
7. Startup Capital: The Injection
8. Financial Statements: The Scorecard
9. Financial Analysis: The Gauge
Part IV: New Venture Growth
10. Human Resources: The People
11. Successful Business Plans: The Compass
12. Scaling Ventures: The Future
"This is an invaluable road map, not just for anyone thinking about starting a new business, but also for those wanting to unravel the mysteries of entrepreneurship. This important, easy-to-read book, written by two giants in the field of entrepreneurship, makes the complicated process of launching a new business seem straightforward and within anyone's grasp. It is written in a systematic and compelling manner that is accessible, reader-friendly and, perhaps most importantly, fundamentally correct. It is an essential book for all those involved in entrepreneurial startups, whether it's their first or last new venture."
David B. Audretsch, Indiana University, Bloomington, USA
"This is an excellent textbook for undergraduate or graduate entrepreneurship classes. The material is very practical and yet its effectiveness is mainly due to its grounding in the research of these two leading scholars. No one blends practice and theory better than this writing team. Kuratko and Hornsby have written a book that will meet all the needs of an introductory entrepreneurship course."
Michael Goldsby, Ball State University, USA
"I'm generally skeptical about textbooks in comparison to deep experiential learning, but learners also need content knowledge well-organized. Kuratko and Hornsby came up with a text that can also serve as a good reference book to accompany more experiential pedagogy. I'm adding this to my bookshelf."
Norris F. Krueger, Entrepreneurship Northwest, USA