Entrepreneurial Strategy and Creativity

Entrepreneurial Strategy and Creativity
Explain that the essential act of entrepreneurship involves new entry.

Outline how an entrepreneurial strategy can first generate, and then exploit over time, a new entry.

Summarize how resources are involved in the generation of opportunities.

Assess the attractiveness of a new entry opportunity.

Explore how decisions are made under conditions of uncertainty and strategies to

reduce the associated risks.

Assess the extent of first-mover advantages and weigh them against first-mover

disadvantages.

Discuss how risk is associated with newness of ideas.

Identify various sources of ideas for new ventures.

Discuss methods available for generating new venture ideas.

Discuss creativity and the techniques for creative problem solving.

Discuss the importance of innovation.

Examine an opportunity assessment plan.

Discuss the aspects of the product planning and development process.

Discuss aspects of e-commerce and starting an e-commerce business.

Reading

Learning Materials & Additional Resources

Hisrich, Robert D., Peters, Michael P., Shepherd, Dean A..

(2020). Entrepreneurship (11th ed.). McGraw-Hill Higher

Education. ISBN 9781260043730. Read Chapters 3 and 4

Discussion

What is the failure rate of all new businesses? What is the

failure rate of all new franchises?

What inferences can you make from these numbers? Explain your answer.

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