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Contents - Lessons & Practice

Business

Entrepreneurship

OpenStax book

OpenStax

Entrepreneurship

15 lessons

One lesson for each chapter of Entrepreneurship, in the book’s order. The lesson teaches what that chapter says you need to know, then checks it.

  1. 1The Entrepreneurial PerspectiveOn the opposite end of the spectrum, entrepreneurs can take on lifestyle ventures and become serial entrepreneurs.
  2. 2The Entrepreneurial Journey and PathwaysThe seven steps outlined in this section will provide you with a perspective of what you might encounter on your entrepreneurial venture
  3. 3The Ethical and Social Responsibilities of EntrepreneursThe first section of this chapter explores the relationship between entrepreneurship, ethics, social responsibility, and the law.
  4. 4Creativity, Innovation, and InventionThis reinforces the idea that creative thinking is a practice, that it can be guided, and that sometimes a combination of open thinking and rule following is ideal for collaborative creativity.
  5. 5Identifying Entrepreneurial OpportunityEntrepreneurial opportunity exists when consumer demand meets the feasibility of bringing the product or service to market.
  6. 6Problem Solving and Need Recognition TechniquesProblem-solving skills include critical thinking, communication, decisiveness, resourcefulness, business and industry awareness, and an ability to analyze data.
  7. 7Telling Your Entrepreneurial Story and Pitching the IdeaThe most basic formula for telling the story of your innovation is the problem-solution narrative.
  8. 8Entrepreneurial Marketing and SalesOne way to think of the marketing mix is to break it into the 7Ps: product, promotion, price, place, people, physical environment, and process.
  9. 9Entrepreneurial Finance and AccountingEquity financing provides the entrepreneur with maximum flexibility: Dividends are not required and can be made when cash flow is strong enough to meet all obligations of the firm.
  10. 10Launch for Growth to SuccessThe lean startup method provides an opportunity for companies to approach management in a measurable and provable way.
  11. 11Business Model and PlanThe lean model canvas and social business model canvas are derivations of the original business model canvas.
  12. 12Building Networks and FoundationsEntrepreneurial networking is interacting with other people who have a common interest that eventually leads to the exchange of goods and services for payment.
  13. 13Business Structure Options: Legal, Tax, and Risk IssuesThis is primarily a tax decision, with C corporations being taxed as corporations, and S corporations being taxed as partnerships.
  14. 14Fundamentals of Resource PlanningIntangible resources cannot be seen, touched, or felt.
  15. 15Next StepsThe company culture should be defined, and a code of conduct developed.