This book provides an understanding of ‘opportunity recognition’ as a catalyst and crux of the entrepreneurial process. Grounded in research, it introduces the key concepts at the heart of entrepreneurship theory and practice and demonstrates how entrepreneurship differs from management in language, priorities and practice.
The book’s central framework is mapped around ‘seeing and seizing opportunities’, where the entrepreneur enters a situation, eventually sees an opportunity and takes it through a process of idea development into an actionable entrepreneurial initiative. This captures the book’s four core elements: person(s), environment, opportunity and process. The Entrepreneurial Process is unique in its explanation of how key concepts are related and how they can be applied practically to business models, plans and action. Case studies from real-life organizations, reflective questions and short exercises throughout encourage student learning and enable true engagement with the subject matter, building students’ entrepreneurial efficacy.
A ‘one-stop shop’ of key theoretical perspectives on entrepreneurship, opportunity recognition and business modelling, this textbook is essential for undergraduate and postgraduate students on introductory entrepreneurship and enterprise courses. Its practical and applied nature also makes it suitable for MBA and executive education.
Online resources include chapter-by-chapter PowerPoint slides and a test bank of questions.
Table of Contents
1. The Rise, Fall and Return of the Entrepreneur
2. The Environment: The Home of Resources, Uncertainty and Opportunities
3. The Person(s) and the Network
4. The Opportunity: The Key Crux of Entrepreneurship
5. The Process: What to do Next?
6. The Business Model: How it all Fits Together
7. The Business Model's Financial ABC's
Nils Nilsson is former vice-rector and head of the Entrepreneurial University Project at Linnaeus University, Sweden.
"Nils Nilsson offers a thoughtful and thorough exploration of the nature of entrepreneurship from both a theoretical and practical foundation of insights and observations. The book is particularly strong in its focus on critical entrepreneurial practices that lead to viable and sustainable businesses that provide economic and social value. This book will be very useful for anyone interested in gaining practical skills and abilities for how the future is created."
William B. Gartner, Bertarelli Foundation Distinguished Professor of Family Entrepreneurship, Babson College, USA
"An insightful, interesting, and highly readable book. To start with the entrepreneurial history of ideas and the concept of ‘the entrepreneurial economy’ is powerful and makes sense, even in a book with the ambition to support entrepreneurial action. The emphasis on ‘the opportunity’ as the centre of gravity is also welcome. Together this, and the conversational tone, makes the book stand out positively."
Magnus Aronsson, Managing director, ESBRI, Sweden