Entrepreneurial Systems for the 1990s: Their Creation, Structure, and Management

A book for aspiring entrepreneurs both within and outside of established corporations, this book introduces a new perspectve on the subject that both refutes individualistic myths about entrepreneurship and provides a specific theory about successful entrepreneurial activity. The authors point to the need for entrepreneurial systems--collections of individuals working together--as the real key to successful ventures. They argue that there are four essential elements that must be present and operating in concert if entrepreneurship is to succeed: characteristics, competencies, conditions, and contexts. Following an in-depth discussion of the theoretical underpinnngs of successful entrepreneurship, the authors show how to apply the theory in actual practice. Planning tools like the Four C Conference--in which an assessment of each of the four necessary elements is made--and the Concert of Components Conference will enable the individual entrepreneur to begin to set up a workable entrepreneurial system. The authors demonstrate how to analyze the entrepreneurial firm's stage of development and then focus specifically on problems linked to that stage, how to use the success/failure grid as an analysis tool, and how to capitalize on favorable conditions and opportunities. By painting a more accurate picture of how entrepreneurial ventures really work--and then offering sound advice to prospective entrepreneurs on how to achieve lasting success--this book makes a major contribution to the business literature.