Entrepreneurial Leadership

ENTREPRENEURSHIP
E I G H T H E D I T I O N
ROBERT D. HISRICH.PhD
Garvin Professor of Global Entrepreneurship
Director, Walker Center for Global Entrepreneurship
Thunderbird School of Global Management
MICHAEL P. PETERS, PhD
Professor Emeritus
Carroll School of Management
Boston College
DEAN A. SHEPHERD, PhD
Randall L. Tobias Chair in Entrepreneurial Leadership and
Professor of Entrepreneurship
Kelley School of Business
Indiana University
McGraw-Hill
Irwin
CONTENTS
PREFACE vi
PART 1 THE ENTREPRENEURIAL
PERSPECTIVE
1 ENTREPRENEURSHIP AND THE
ENTREPRENEURIAL MIND-SET 2
Opening Profile: Ewing Marion Kauffman 3
Nature and Development of Entrepreneurship 6
The Entrepreneurial Process 7
Identify and Evaluate the Opportunity 7
Develop a Business Plan 9
Determine the Resources Required 9
Manage the Enterprise 10
How Entrepreneurs Think 10
Effectuation 10
Cognitive Adaptability 13
As Seen in Entrepreneur Magazine: What Me Worry?
.How Smart Entrepreneurs Harness the Power of Paranoia 14
Learning from Business Failure 18
Recovery and Learning Process 20
A Dual Process for Learning from Failure 21
Ethics and Social Responsibility of Entrepreneurs 21
Ethics: Company's Code of Ethics 23
Role of Entrepreneurship in Economic Development 23
2 ENTREPRENEURIAL INTENTIONS AND
CORPORATE ENTREPRENEURSHIP 34
Opening Profile: Robert Mondavi 35
The Intention to Act Entrepreneurially 38
Entrepreneur Background and Characteristics 38
Education 38
Ethics: Ethical Conduct of Entrepreneurs versus
Managers 39
Age 40
Work History 40
Role Models and Support Systems 40
Moral-Support Network 41
Professional-Support Network 41
CONTENTS
As Seen in Entrepreneur Magazine: Hot or Not? 42
Minority Entrepreneurs 43
As Seen in Entrepreneur Magazine: Provide Advice to an Entrepreneur about Improving a Business through Certification as a Woman-Owned
Business 44
Entrepreneurial Intentions within Existing
Organizations 45
Managerial versus