chap07 - Technology Ventures : From Idea to Opportunity...

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Unformatted text preview: Technology Ventures : From Idea to Opportunity Chapter 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 Technology Ventures : From Idea to Opportunity Chapter 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 Technology Ventures : From Idea to Opportunity Chapter 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 m odel. 2. Refine the concept, determine feasibility and prepare a m ission 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 com plete Business Plan with a financial plan, and the legal organization suitable for the venture. for the venture....
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chap07 - Technology Ventures : From Idea to Opportunity...

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