Management Skills and Entrepreneurship

Management Skills & Entrepreneurship
Submitted by: Anna Filatova
Lecturer: Dr. Lester C. MassinghamQualification: Masters of Business Administration for Executives
University/College: London School of Commerce
Date: 2nd April 2014
Table of Contents
Abstract................................................................................................................................... 3
Section 1 – Introduction........................................................................................................ 4
Section 2 – Discussion/ Literature Review........................................................................... 5 Section 2.1 – Why New Business Startups Fail................................................................ 5 Section 2.2 – The Importance of Sound Business Model................................................... 7 Section 2.3 – The Managerial Skills……………............................................................... 12 Section 2.4 – Sources of Evidence…….............................................................................. 17
Section 3 – Conclusion........................................................................................................... 18
References............................................................................................................................... 19
Further Reading..................................................................................................................... 21
Abstract
The aim of this presentation was to support new entrepreneurs with their new startup businesses by providing relevant information about the reasons of new business startup failure, the importance of sound business model and management skills which are required over the first two years of business to achieve break-even business volumes.
In order to meet requirements the author used relevant literature about management, entrepreneurship and

References: Beardwell, J. & Claydon, T. (2007) Human Resource Management: A Contemporary Approach, 5th Edition, Essex, UK: Pearson Education Ltd Casson, M., Yeung, B., Basu, A Cole, K. (2010) Management: Theory and Practice, Australia: Pearson Australia Group Pty Ltd. Hisrich, R. D., Peters, M. P. & Shepherd, D.A (2010) Entrepreneurship, 8th Edition, New York: The McGraw-Hill Companies, Inc. Johnson, G., Scholes, K Magretta, J. (2003) What Management is, London: Profile Books Ltd. Mead, R. & Andrews, T. G. (2009) International Management, 4th Edition, New Delhi: Wiley India Ltd. Merchant, K. A. & Van der Stede, W. A. (2007) Management Control Systems, 2nd Edition, England: Pearson Education Limited Mullins, L Mullins, L. J. (2008) Essentials of Organizational Behaviour, 2nd Edition, England: Peasron Education Ltd. Price, A. (2007) Human Resource Management in a Business Context, 3rd Edition, Hampshire,UK: Cengage Learning EMEA Robbins, S Robbins, S. P., DeCenzo D. A. & Coulter, M. (2011) Fundamentals of Management, 7th Global Edition, New Jersey: Pearson Prentice Hall Stokes, D Stokes, D., Wilson N. & Mador, M. (2010) Entrepreneurship, United Kingdom: Cengage Learning EMEA Titman, S., Keown, A Hull, Patrick. “10 Essential Business Plan Components”, Forbes, February 21, 2013, (http://www.forbes.com/sites/patrickhull/2013/02/21/10-essential-business-plan-components/), accessed March 23, 2014 Kastelle, Tim Myler, Larry. “3 Steps to an Irresistible Business Model”, Forbes, August 1, 2013, (http://www.forbes.com/sites/larrymyler/2013/08/01/3-steps-to-an-irresistible-business-model-multiple-authentication-methods/), accessed March 29, 2014. Skok, David. “Why Startups Fail”, For Entrepreneurs Website, n.d, (http://www.forentrepreneurs.com/business-models/why-startups-fail/), accessed March 23, 2014 Slee, Liz Taulli, Tom. “Three Steps to a Sound Business Model”, Bloomberg Business Week, February 27, 2009, (http://www.businessweek.com/smallbiz/content/feb2009/sb20090226_798877.htm), accessed March 23, 2014. Wagner, Eric T. “Five Reasons 8 Out of 10 Businesses Fail”, Forbes, September 12, 2013, (http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/), accessed March 23, 2014. Further Reading Birley, S. & Muzyka, D. (2000) Mastering Entrepreneurship: Your Single-Source Guide to Becoming a Master of Entrepreneurship, United Kingdom: Pearson Education Limited Kirby, D Lumsdaine, E. & Binks, M. (2007) Entrepreneurship from creativity to Innovation: Effective Thinking Skills for a Changing World, Oxford: Trafford Publishing Limited Mitra, S NCC Education Services (1999) Practical Business Management, Manchester: NCC Education Services Limited Robbins, S Scarborough, N. M. & Zimmerer, T. W. (2005) Effective Small Business Management: an Entrepreneurial Approach, 8th Edition, New Jersey: Pearson Prentice Hall Williams, S Kingsbery, Jamie. “33 Startups That Dies Reveal Why They Failed”, Business Insider, June 29, 2003, (http://www.businessinsider.com/33-startups-that-died-reveal-why-they-failed-2013-6?op=1), accessed March 23, 2014. Tice, Carol. “The Unstoppable Business Model That’s Beating the S&P 500”, Forbes, January 22, 2013, (http://www.forbes.com/sites/caroltice/2013/01/22/unstoppable-business-model-beating-the-sp-500/), accessed March 29, 2014.