MGT481

Explore Kuratko's 12th Edition of "ENTREPRENEURSHIP: THEORY, PROCESS, PRACTICE" for a practical, step-by-step approach to mastering the entrepreneurial mindset and successful processes, including trending topics like design innovation and bootstrapping. The accompanying MindTap™ Learning Suite offers hands-on activities to sharpen your entrepreneurial skills, guiding you to become a future industry leader.

Chapter 5 – Innovation: The Creative Pursuit of Ideas
This chapter is important because it discusses innovation, creative thinking, and opportunity identification. The sources of innovative ideas are outlined and examined as well as a creativity process and ways to develop creativity. Additionally, four basic types of innovation are covered: invention, extension, duplication, and synthesis. (Kuratko, 2024)

Chapter 6 – Assessment of Entrepreneurial Opportunities
This chapter explains the challenges of new venture start-ups. While there are many obstacles in a new venture some are lack of insight into the market, inadequate understanding technical requirement, poor financial understanding, and failure of awareness of legal issues. Entrepreneurs need to assess several critical factors to understand the feasibility of a product or service. This is reviewed through a comprehensive feasibility approach. (Kuratko, 2024)

Chapter 7 – Pathways to Entrepreneurial Ventures
This is an interesting chapter that covers elements involved for acquiring established ventures and starting new ventures. The key questions to ask when buying an on-going venture. The benefits and drawbacks of franchising. The elements involved in incubators, accelerators, and entrepreneurial ecosystems. (Kuratko, 2024)

Chapter 8 – Sources of Capital for Entrepreneurs
This chapter is important to understand the differences in advantages and disadvantages in bootstrapping; debt and equity as a method of financing; commercial loans and social lending as sources of capital. Discussion of initial public offerings (IPOs) as a source of capital and private placements as an opportunity for equity capital. Additional funding opportunities are covered for consideration. (Kuratko, 2024)