The entrepreneurial venture

Abstract

This chapter outlines characteristics of entrepreneurs and the importance of preparing a business plan. It focuses on ethical concepts and discusses the influence of culture on a firm’s strategy. Owning a business gives entrepreneurs independence and the opportunity to achieve what is important to them. They reap the intrinsic reward of knowing they are the driving force behind their business. Successful entrepreneurs understand they aren’t simply creating a job for themselves and a few employees, they are building a business that can create value for themselves and their community. Managers may seek to extend the market for their business, but assume that it will be similar to their existing market, and therefore may manage the new venture in much the same way as they have been used to. Visionplanner focuses on an existing company and starts with ‘general’. Qualitative information can be included, such as competencies and strengths and weaknesses of the entrepreneur.

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