The era of ChatGPT, artificial intelligence, disruptive innovation, and environmental dynamics poses a unique challenge to leaders of entrepreneurial business venture as they seek to achieve superior competitive advantage for their firms in a global marketplace. The challenge doesn’t only stem from domestic and international competitors but also from other external sources such as man-made and natural disasters that are beyond the control of entrepreneurs or business leaders. While entrepreneurs seek to establish innovative, growth-oriented, and competitive ventures, business managers on the other hand pursue tasks to ensure the survival, profitability, and sustainability of business firms.
Entrepreneurship and the management of the entrepreneurial companies are comprised of interrelated activities and disciplines. Entrepreneurship and its management are fascinating subjects because they perform critical functions in society and occur within all industries, economic sectors, and countries. Entrepreneurs with strong managerial and leadership skills are likely to be highly successful in their endeavors.
This short book is about the basics of entrepreneurship and management. It is designed for individuals of different background including students, managers, business owners, entrepreneurs, and the public at large. The book seeks to address important issues related to the entrepreneurial ecosystem as well as explain essential matters and challenges that face the management of entrepreneurial companies. It is assumed that the reader has scant or no knowledge about entrepreneurship, management, U.S. industries, the economy, or the inner workings of business firms.
The book aims to accomplish several objectives:
· Help readers learn the process of entrepreneurship and the principles of managing a business enterprise, including the intricacies of business strategies.
· Overview the techniques and methods essential for business growth and achieving sustainable competitive advantage.
· Enable readers to become successful entrepreneurs and effective business leaders.
The emphasis in this book is on business entrepreneurship. However, business as well as social entrepreneurs play an indispensable role in society for a host of reasons including job creation and contribution to national income. In recent years, an increasing segment of U.S. population has acquired the entrepreneurial mindset (or spirit) as evidenced by the growing numbers of new business firms. This book provides a road map for starting a new venture, managing the venture, and growing the business.