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2017 | Book

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Effective Entrepreneurial Management

Strategy, Planning, Risk Management, and Organization

Authors: Robert D. Hisrich, Veland Ramadani

Publisher: Springer International Publishing

Book Series : Springer Texts in Business and Economics

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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About this book

This textbook provides a comprehensive overview of the essential issues in effective entrepreneurial management. It first introduces readers to the fundamentals of entrepreneurial management, the nature of entrepreneurial managers and business planning, before exploring the specific topics of creativity and innovation, risk management, entrepreneurial marketing and organization as well as financing. The authors then move to contemporary topics such as entrepreneurial growth strategies, e-commerce challenges, ethical and socially responsible entrepreneurial management, franchising, and managing entrepreneurial family ventures. Each chapter provides a case study and several practice-based examples to help explain the concepts.

By providing a truly international approach, this text offers ample theoretical and empirical insights into entrepreneurship and small business management. It is a valuable and up-to-date resource for teachers and students of entrepreneurship.

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Table of Contents

Frontmatter

1. Foundation of Entrepreneurial Management

Abstract

This chapter develops an understanding of effective entrepreneurial management and the historical perspectives on entrepreneurship by analyzing the concept of private entrepreneurship, government entrepreneurship (governpreneurship) corporate entrepreneurship, and social entrepreneurship. The nature of the entrepreneurial process is then explored along with how it applies within established organizations. Entrepreneurship is a unifying framework for successful effective entrepreneurial management that can be achieved by combining the key activities of managers and entrepreneurs.

Robert D. Hisrich, Veland Ramadani

2. Entrepreneurial Business Planning

Abstract

A key aspect of developing a strategy at each level (the enterprise level, the corporate level, the business level, the functional level, and the sub-functional level) is establishing goals and objectives. Goals need to be challenging and yet obtainable with effort. They need to be measurable so that the results can be evaluated and performance appraised. In order to accomplish the goals established and implement the strategy, a business plan is often created as it is an effective tool for providing the direction to the entrepreneur.

Robert D. Hisrich, Veland Ramadani

3. Creativity, Innovation and Entrepreneurial Manager

Abstract

This chapter examines ways organizations can prosper through creativity and innovation. Creativity and innovation are discussed by providing an understanding of the aspects of creativity and its contribution to innovation. The creative process is discussed along with some creative problem solving techniques. This chapter concludes with a discussion on the link between creativity and innovation and a discussion of various aspects and forms of innovation.

Robert D. Hisrich, Veland Ramadani

4. Entrepreneurial Risk Management

Abstract

This chapter focuses on risks and risk management. As the risk is defined, the chapter continues with discussion of types of risk. Characteristics of risk management is then discussed along with five major risk management phases—context definition, risk identification, risk analysis, risk treatment and risk monitoring and reviewing. The chapter ends with risk evaluation strategies—risk avoidance, risk reduction, risk anticipation, risk transfer and risk acceptance.

Robert D. Hisrich, Veland Ramadani

5. Entrepreneurial Marketing Mix

Abstract

Entrepreneurial marketing activities are essential for every new or established business. This chapter focuses on the marketing tools, such as product, price, place (distribution) and promotion. Then, the differences and similarities of traditional and entrepreneurial marketing elements and contents are discussed. The chapter concludes with a discussion of basic forms of entrepreneurial marketing such as guerrilla, ambush, buzz and viral marketing.

Robert D. Hisrich, Veland Ramadani

6. Organizing an Entrepreneurial Venture

Abstract

The major focus of this chapter is the legal form of the organization and the organizational structure of the new venture. The chapter begins with a discussion of the reasons for selecting one legal form over alternative forms. Then, the chapter focuses on the legal forms of business available in the United States. The chapter concludes with a discussion of Board of Advisors or a Board of Directors.

Robert D. Hisrich, Veland Ramadani

7. Raising Capital for the Entrepreneurial Path

Abstract

One of the most difficult aspects of starting and growing a new venture is obtaining the necessary resources at the time needed. In addition to supply resources, distribution channel resources, and human resources, there are capital resources needed which particularly at the start of the new venture are difficult to obtain. This chapter will focus on raising capital by first discussing the types of capital and them the various sources of capital and their aspects. The chapter concludes with a discussion of the capital raising process and the stages in financing.

Robert D. Hisrich, Veland Ramadani

8. Entrepreneurial Businesses Growth

Abstract

This chapter focuses on the most important aspect of growing the entrepreneurial businesses by first looking at identifying the main factors that influence the growth followed by the discussion of the main perspectives of growth. Characteristics of fast-growing companies and management actions enabling growth are then discussed along with four major growth strategies—market penetration, market development, product development and diversification. The chapter concludes with a presentation of some exit options from a company.

Robert D. Hisrich, Veland Ramadani

9. E-commerce Challenges and Entrepreneurial Manager

Abstract

This chapter is about electronic commerce (e-commerce). The chapter begins with the explanation of the nature of e-commerce, where are represented some definitions of e-commerce, differences between e-commerce and traditional commerce, pure and partially e-commerce. In other sections are discussed the basic types of e-commerce, benefits from e-commerce and barriers of e-commerce implementation.

Robert D. Hisrich, Veland Ramadani

10. Business Ethics, Social Responsibility and Entrepreneurial Managers

Abstract

In this chapter, we will focus on ethical values, standards and beliefs and their implementation in business. Will be discussed the situations with ethical dilemma and how to deal with them. In addition, will be treated the factors that affect an ethical behavior and will be explained the features of moral, amoral and immoral managers. The chapter ends with the discussion of the essence of social responsibility, the pyramid of social responsibility and benefits from action as a socially responsible business.

Robert D. Hisrich, Veland Ramadani

11. Entrepreneurial Family Businesses and Succession Management

Abstract

This chapter presents a review of some important issues related to family businesses, such are family business categories, members of family businesses, succession process, family business cultures, conflicts in family businesses, etc.

Robert D. Hisrich, Veland Ramadani

Title: Effective Entrepreneurial Management
Authors: Robert D. Hisrich
Veland Ramadani
Copyright Year: 2017
Publisher: Springer International Publishing
Electronic ISBN: 978-3-319-50467-4
Print ISBN: 978-3-319-50465-0
DOI: https://doi.org/10.1007/978-3-319-50467-4