Assessment of Entrepreneurial Opportunities © 2014

Transcript:Assessment of Entrepreneurial Opportunities © 2014:
Assessment of Entrepreneurial Opportunities © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Chapter Objectives © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6–2 To explain the challenge of new-venture start-ups To review common pitfalls in the selection of new-venture ideas To present critical factors involved in new-venture development To examine why new ventures fail To study certain factors that underlie venture success To analyze the evaluation process methods: profile analysis, feasibility criteria approach, and comprehensive feasibility method To outline the specific activities involved in a comprehensive feasibility evaluation © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6–3 The Challenge of New-Venture Start-Ups New Venture Formation 600,000 new firms have emerged in the United States every year since the mid-1990s. Ideas for Potential New Businesses The U.S. Patent Office currently receives more than 500,000 patent applications per year. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6–4 Components of New-Venture Motivation The need for approval The need for independence The need for personal development Welfare (philanthropic) considerations Perception of wealth Tax reduction and indirect benefits Following role models © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6–5 Reasons for Starting a Venture © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service