The third edition of this practical textbook provides an introduction to the world of new and emerging ventures and to the fundamentals of effective new venture management, including such diverse activities as planning, marketing, financing, and growth.
This textbook is divided into four distinct parts, guiding readers through the entire new venture management process and focusing in turn on ideas and opportunities, planning, finance, and management challenges. All chapters of this revised edition feature international cases, and the complete business plan has been replaced with a contemporary version. Other new elements to the third edition include:
- Expanded coverage of the Lean Startup methodology
- Improved focus on the development and importance of teams
- A new section on the emergence of equity crowdfunding
- Further discussion of ethics and the dangers of dramatic scaling
Presented in an easy-to-understand style, this book will be a valuable resource for undergraduate and postgraduate students in entrepreneurship and new venture management classes as well as active new venture owners and managers.
Online resources include an instructor’s manual, test bank, PowerPoint slides, and additional materials to aid instructors and students in applying their knowledge.
Table of Contents
Part 1: New Venture Opportunities
1. New Ventures: The Quite Giant
2. Ideation: The Concept
3. Venture Choices: The Pathways
Part 2: New Venture Development
4. Marketing: The Customer
5. Legal Considerations: The Parameters
6. Strategic Pricing: The Hook
Part 3: New Venture Finances
7. Startup Capital: The Injection
8. Financial Statements: The Scorecard
9. Financial Analysis: The Gauges
Part 4: New Venture Growth
10. HR and the Development of Teams: The People
11. Successful Business Plans: The Compass
12. Scaling Ventures: The Future
Donald F. Kuratko is the Jack M. Gill Distinguished Chair of Entrepreneurship, Professor of Entrepreneurship, and Executive and Academic Director of the Johnson Center for Entrepreneurship & Innovation at the Kelley School of Business at Indiana University. He has authored over 200 articles and 30 books, including one of the leading entrepreneurship books in the world.
Jeffrey S. Hornsby is Executive Director of the Regnier Institute for Entrepreneurship and Innovation and Chair of the Department of Global Entrepreneurship and Innovation at the Bloch School of Management at the University of Missouri in Kansas City. He has authored or coauthored over 140 articles and five books on entrepreneurship, innovation, and human resource management topics.
'This text is robust, succinct, and engaging. It is evidenced-based, yet practical, and perfect for today’s undergraduate students.'
Matthew W. Rutherford, Johnny D. Pope Chair in Entrepreneurship, Spears School of Business, Oklahoma State University, USA
'Professors Kuratko and Hornsby are renowned experts of new venture management, and their book synthesizes their knowledge into a well-organized, reader-friendly approach to understand the process of starting and managing a new venture. They have a true passion for entrepreneurial education, and their enthusiasm is evident throughout this edition. The timely updates in this edition will help you prepare for the global revolution in entrepreneurship!'
Robert Garrett, Brown & Williamson Associate Professor of Entrepreneurship, University of Louisville, USA
'Kuratko & Hornsby strike a delicate balance where many falter. Unlike traditional textbooks, New Venture Management is smart about introducing the most critical concepts without overloading readers with extraneous content. Unlike popular press books, New Venture Management is deeply grounded in quality research that extends far beyond the authors' personal war stories. In my view, this book is ideal for students who wants to both understand the key concepts and translate this knowledge into real-world skills for managing new ventures.'
Aaron F. McKenny, Assistant Professor of Management and Entrepreneurship, Indiana University, USA
'Drs. Donald F. Kuratko and Jeffrey S. Hornsby's book is a roadmap that will guide the reader through all the stages of a startup. It achieves the rare feat of having scholarly credibility behind the work while being very applicable to any entrepreneur during the various steps of their company's journey. It is both thorough and very readable.'
Michael G. Goldsby, Ph.D., Stoops Distinguished Professor of Entrepreneurship, Ball State University, USA