With solid theory and relevant examples, this thorough resource covers the entire process of building a business. Seasoned instructors and entrepreneurial authorities, Professors Baron and Shane deliver a practical, applied process approach with a multidisciplinary perspective, drawing on knowledge from the studies of economics, psychology, and other areas. The book begins with recognizing opportunity and building a team, and then moves through assembling finances, the business plan, legal issues, marketing, growth, and exit strategies. Rather than getting bogged down in excessive discussions of theory, Baron and Shane use real-world examples to illustrate how students can apply chapter concepts to their own business ventures. Thoroughly updated and revised based on student and professor feedback, the second edition adds a chapter on legal issues specific to entrepreneurs--including intellectual property considerations--and an appendix on key accounting principles entrepreneurs should know. A new chapter on growth strategies for new ventures is coupled with a chapter on managing new ventures for growth. In addition, new boxed features shed light on common myths and misperceptions about entrepreneurship. The book is also packed with hands-on applications--including a case written specifically for each chapter--giving students experience putting text concepts into real-world action.

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