Solution Manual for Entrepreneurship: Successfully Launching New Ventures Plus MyEntrepreneurshipLab with Pearson eText — Package, 5/E – Bruce R. Barringer & R. Duane Ireland

Product details:

• ISBN-10 ‏ : ‎ 0133797198
• ISBN-13 ‏ : ‎ 978-0133797190
• Author: Ireland R. Duane, Bruce R. Barringer

Successfully Launching New Ventures explores the allure of entrepreneurship, teaching students how to successfully start their own businesses. With real business profiles of inspiring young entrepreneurs, the text engages students through relevant examples they can easily relate to.

Table contents:

1 The Power of Entrepreneurship 1

Entrepreneurship and Small Business in the United States 3

Entrepreneurial Revolution 4

Web: Three Revolutions Converge 9

Entrepreneurship Revolution Strikes Gold 10

Creative Destruction 11

Causes of the Entrepreneurial Revolution 12

Changes in the Entrepreneurial Framework Conditions 14

Churning and Economic Growth 18

Global Entrepreneurship Monitor 19

Principal Findings from GEM 20

Activity 20

Necessity, Opportunity, and Gender 20

Age Distribution of Early-Stage Entrepreneurial Activity 22

Growth Expectations and Job Creation 25

Entrepreneurship Ecosystems and the Importance of Support 27

Conclusion 29

Your Opportunity Journal 29

Web Exercise 30

Notes 30

Case: MightyWell 33

2 The Entrepreneurial Process 41

Critical Factors for Starting a New Enterprise 42

Evaluating Opportunities for New Businesses 47

Determining Resource Needs and Acquiring Resources 52

Profit Potential 56

Ingredients for a Successful New Business 58

Conclusion 59

Your Opportunity Journal 59

Web Exercise 60

Notes 60

Case: Vedavoo 62

3 Opportunity Recognition, Shaping, and Reshaping 70

From Glimmer to Action: How Do I Come Up with a Good Idea? 71

Is Your Idea an Opportunity? 76

The Opportunity Checklist 91

‘‘I Don’t Have an Opportunity’’ 91

Conclusion 93

Your Opportunity Journal 93

Web Exercise 93

Notes 93

Case: ISlide, Inc. 95

4 Prototyping Your Ideas 102

What is Prototyping? 103

Types of Prototyping 106

Conclusion 114

Your Opportunity Journal 114

Web Exercise 114

Notes 114

Case: Balanced Snacking 115

5 The Importance of Business Models 120

Introduction 120

The Core (Steps 1, 2, and 3) 122

The Market (Steps 4, 5, 6, and 7) 125

Customer Segments (Step 4) 126

Marketing Channels (Step 5) 126

Distribution Channels (Step 6) 127

Revenue Streams (Step 7) 128

Product and Operations (Steps 8, 9, 10, and 11) 129

Resources (Step 8) 129

Partners (Step 9) 129

Key Metrics (Step 10) 130

Cost Drivers (Step 11) 130

The External Enviroment and Financial Strategy (Steps 12, 13, and 14) 132

Competitive Environment (Step 12) 132

Industry Attractiveness (Step 13) 132

Financial Strategy (Step 14) 132

Conclusion 133

Your Opportunity Journal 133

Web Exercise 133

Notes 133

Case: Zumba Fitness 134

6 Entrepreneurial Marketing 141

Why Marketing is Critical for Entrepreneurs 142

Entrepreneurs Face Unique Marketing Challenges 142

Acquiring Market Information 143

Marketing Strategy for Entrepreneurs 145

Segmentation, Targeting, and Positioning 145

The Marketing Mix 146

Value Proposition: Articulating the Entrepreneurial Strategy 159

Social Media 162

Guerrilla Marketing 163

Marketing Skills for Managing Growth 165

Understanding and Listening to the Customer 165

Building the Brand 166

Conclusion 166

Your Opportunity Journal 166

Web Exercise 167

Appendix: Customer Interview 167

General Outline: It Needs to Be Tailored to Meet Your Research Needs 167

Notes 168

Case: Theo Chocolate 169

7 Building The Founding Team 184

Power of the Team 185

Where Do You Fit? 187

How to Build a Powerful Team 190

Bootstrapping: Building the Team Based on Stage-of-Venture Life 193

Compensation 194

Equity 194

Salary 198

Other Compensation Considerations 199

External Team Members 200

Outside Investors 200

Lawyers 200

Accountants 201

Board of Advisors 201

Board of Directors 202

Keeping the Team Together 203

Burnout 204

Family Pressure 205

Interpersonal Conflicts 205

Conclusion 205

Your Opportunity Journal 206

Web Exercise 206

Notes 206

Case: Box, Inc.: Preserving Startup Culture in a Rapidly Growing Company 208

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