Technology Ventures: From Idea to OpportunityChapter 7: Summary
The method of enterprising is to plan with
audacity and ex...
Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.1
Building A New Business
Opportunity
Vision
Access to Di...
Technology Ventures: From Idea to OpportunityChapter 7: Table 7.1
Step
1. Identify and screen opportunities. Create a visi...
Technology Ventures: From Idea to OpportunityChapter 7: Exercise
Consider the corporate venture creation process of a firm...
Technology Ventures: From Idea to OpportunityChapter 7: concept
A business plan is a document that describes the
opportuni...
Technology Ventures: From Idea to OpportunityChapter 7: Table 7.2
The Elements of a Business Plan
• Executive Summary
• Th...
Chapter 7: Table 7.2 continued Technology Ventures: From Idea to Opportunity
The Elements of a Business Plan (cont.)
• The...
Technology Ventures: From Idea to OpportunityChapter 7: Table 7.3
• Solutions or technologies looking for a problem
• Uncl...
Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.3
The business plan serves
as the alignment tool for a
ne...
Technology Ventures: From Idea to OpportunityChapter 7: concept
A cluster is a geographic concentration of interconnected
...
Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.4
The Three Interrelated Factors That Determine The
Quali...
Technology Ventures: From Idea to OpportunityChapter 7: concept
A social entrepreneur is a person or team that acts to
for...
Technology Ventures: From Idea to OpportunityChapter 7: Principle
Entrepreneurs can learn and master a process for buildin...
Technology Ventures: From Idea to OpportunityChapter 7: Venture Challenge
VENTURE CHALLENGE
1)Create a draft table of cont...
Technology Ventures: From Idea to OpportunityChapter 7: DVD Video
DVD Video
“Changing the Business Plan in Response to a
C...
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Chap7

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Chapter 7- Entrepreneurship lecture International University- HCMcity

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Chap7

  1. 1. Technology Ventures: From Idea to OpportunityChapter 7: Summary The method of enterprising is to plan with audacity and execute with vigor. Christian Bovee How are ventures actually formed and what is the role of the business plan? Entrepreneurs respond to attractive opportunities by forming new ventures. One particularly important step is the development of a business plan. We also discuss the benefits of joining a cluster of interconnected enterprises. Summary
  2. 2. Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.1 Building A New Business Opportunity Vision Access to Distinctive Capabilities of Resources Competencies the Team Innovation Business Industry or Strategy Context Novelty Talent Structure Processes Profitability
  3. 3. Technology Ventures: From Idea to OpportunityChapter 7: Table 7.1 Step 1. Identify and screen opportunities. Create a vision and concept statement and build an initial core entrepreneurial team. Describe the initial ideas about the value proposition and the business model. 2. Refine the concept, determine feasibility and prepare a mission statement. Research the business idea and prepare a set of scenarios. Draft the outline of a business plan and an executive summary. 3. Prepare a complete Business Plan with a financial plan, and the legal organization suitable for the venture. 4. Determine the amount of financial, physical and human resources required. Prepare a financial model for the business and determine the necessary resources. Prepare a plan for acquiring these resources. 5. Secure the necessary resources and capabilities from investors as well as new talent and alliances. Launch the organization The Five-Step Process for Establishing A New Venture
  4. 4. Technology Ventures: From Idea to OpportunityChapter 7: Exercise Consider the corporate venture creation process of a firm you know or have worked for. Describe their creation process and their successes and failures. How could they improve the process?
  5. 5. Technology Ventures: From Idea to OpportunityChapter 7: concept A business plan is a document that describes the opportunity, product, context, strategy, team, required resources, financial return, and harvest of a business venture.
  6. 6. Technology Ventures: From Idea to OpportunityChapter 7: Table 7.2 The Elements of a Business Plan • Executive Summary • The Opportunity — Quality, Growth potential • The Vision — Mission, Objective, Core Concept • The Product or Service — Value Proposition, Business Model • The Context — Industry, Timeliness, Regulation • The Strategy — Entry, Marketing, Operations, Six Forces • The Organization — Structure, Culture, Talent
  7. 7. Chapter 7: Table 7.2 continued Technology Ventures: From Idea to Opportunity The Elements of a Business Plan (cont.) • The Entrepreneurial Team — Capabilities and Commitment • The Financial Plan — Assumptions, Cash Flow, Profit • The Required Resources — Financial, Physical, Human • The Uncertainties and Risks • The Financial Return — Return on Investment • The Harvest — Return of Cash to Investors and Entrepreneurs
  8. 8. Technology Ventures: From Idea to OpportunityChapter 7: Table 7.3 • Solutions or technologies looking for a problem • Unclear or incomplete business model and value proposition • Incomplete competitor analysis and marketing plan • Inadequate description of the uncertainties and risks • Gaps in capabilities required of the team • Inadequate description of revenue and profit drivers • Limited or no description of the metrics of the business • Lack of focus and a sound mission • Too many top down assumptions like "we will get 1% market share" • Limited confirmation of customer demand or pain Ten Common Mistakes or Gaps in Business Plans
  9. 9. Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.3 The business plan serves as the alignment tool for a new business venture. Resources Financial Physical Intellectual Deal Reward, Risks Incentives Ownership Harvest People The Team Capabilities Attitude Reputation Opportunity Customers Strategy Business Model The Business Plan Context: Economy, Regulatory, Industry
  10. 10. Technology Ventures: From Idea to OpportunityChapter 7: concept A cluster is a geographic concentration of interconnected companies in a particular field. A new company within a cluster is more likely to find the employees and infrastructure that it needs.
  11. 11. Technology Ventures: From Idea to OpportunityChapter 7: Figure 7.4 The Three Interrelated Factors That Determine The Quality of Life on Earth Societal Quality of Life and Equity— Social Capital Global and Regional Environmental Quality— Natural Capital Economic Growth and Standard of Living— Economic Capital
  12. 12. Technology Ventures: From Idea to OpportunityChapter 7: concept A social entrepreneur is a person or team that acts to form a new venture in response to an opportunity to deliver social benefits while satisfying environmental and economic values.
  13. 13. Technology Ventures: From Idea to OpportunityChapter 7: Principle Entrepreneurs can learn and master a process for building a new venture and they communicate their intentions by writing a business plan.
  14. 14. Technology Ventures: From Idea to OpportunityChapter 7: Venture Challenge VENTURE CHALLENGE 1)Create a draft table of contents for your venture’s business plan. 2)Describe your process necessary for creating a business plan. 3)Write an executive summary for your opportunity. 4)Will your firm locate in a region that offers cluster dynamics? 5)What steps will your venture take to be socially responsible?
  15. 15. Technology Ventures: From Idea to OpportunityChapter 7: DVD Video DVD Video “Changing the Business Plan in Response to a Changing Environment” Gordon Ringold (Surromed)

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