|
Part III : Venture Formation and Planning
|
|
| The creation of a plan for marketing and selling a product is based on clearly describing the target customer and how the product will be priced, communicated, delivered, and supported. An organizational plan that supports a collaborative, performance-based culture and a sound compensation scheme must be created to attract good talent. The acquisition of resources and capabilities and facilities will be planned for and initiated in order to build a momentum for the venture. A plan for outsourcing some activities and acquiring necessary assets and technologies will facilitate the early growth of the firm. The management of operations, processes, and manufacturing will be described in an operations plan. Finally, the venture team will describe the potential for acquisitions, if any, and the plan for operating internationally.
|
|
|
Chapter 11: The Marketing and Sales Plan
|
|
A fundamental activity of any firm is to attract, serve, and
retain customers for its product offerings. This activity, called marketing, is
critical to the success of a new firm since the firm normally starts without any
customers. A new business must create a marketing and sales plan, which
describes its target customers for its product offering.
|
|
|
|
Chapter 12: The New Enterprise Organization
|
|
After recognizing an opportunity and deciding it is
attractive, usually one or two leaders assemble a new venture team to build a
plan and an organization to execute it. These leaders are able to inspire and
motivate others to join the new venture and work on tasks of the venture. They
build a team that is collaborative and possesses diverse competencies.
|
|
|
|
|
Chapter 13: Acquiring, Organizing, and Managing Resources |
|
Entrepreneurs need to acquire capital, people, intellectual
property, and physical assets to successfully launch and operate their venture.
To tap the required resources, they need to build credibility and legitimacy in
the marketplace of resources and talent.
|
|
|
|
Chapter 14: The Management of Operations |
|
Every business is built on a set of operational processes
that serve to create, make, and provide the product to the customer. Most
businesses build a chain of activities that add value at each section of the
chain. Each element of the value chain has a capability that provides value
added to the product. A new venture manages its value chain to provide the
ultimate product to the customer.
|
|
|
|
| Chapter 15: Acquisitions, Mergers, and Global Business |
|
| Entrepreneurs can create a new business by acquiring an
existing firm and then improving it. The integration of the newly acquired firm within the existing firm is
a large challenge, however, especially when the cultures of the two firms differ
significantly. Most new businesses develop, at the appropriate time, a plan for
building an international strategy for growth. The forces for globalization are
powerful, and new business ventures need to plan for them. |
