What do Entrepreneurs Create?


What do Entrepreneurs Create?

Understanding Four Types of Ventures

9781789900217 Edward Elgar Publishing
Michael H. Morris, Professor of Entrepreneurship and Social Innovation, Keough School of Global Affairs, University of Notre Dame, South Bend, Indiana and Donald F. Kuratko, The Jack M. Gill Distinguished Chair of Entrepreneurship, Professor of Entrepreneurship and Executive and Academic Director, Johnson Center for Entrepreneurship and Innovation, Indiana University, Bloomington, Indiana, US
Publication Date: 2020 ISBN: 978 1 78990 021 7 Extent: 232 pp
Four different types of ventures created by entrepreneurs are explored in What Do Entrepreneurs Create?: survival, lifestyle, managed growth and aggressive growth. The concept of a balanced venture portfolio is introduced to guide public policy formulation and the development of entrepreneurial ecosystems.

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This book addresses the different kinds of businesses launched by entrepreneurs and explains why their differences are so critical for our understanding of entrepreneurship. While entrepreneurs create a wide variety of businesses, overwhelming emphasis has been placed on explosive growth firms such as Facebook, Google, Amazon, Uber, and Airbnb. Although important, these businesses represent less than one percent of start-ups.

The book distinguishes four types of new ventures: survival, lifestyle, managed growth, and aggressive growth. Underlying characteristics of each type are investigated, together with the resources, skills and capabilities necessary for their success. Issues that arise based on this typology are explored, including reasons why ventures of one type rarely change to become another, and how entrepreneurs determine which ventures they should pursue. In addition, the authors introduce the ‘portfolio’ concept, where the need to develop a balanced mix of venture types is emphasized.

The principal audiences for What Do Entrepreneurs Create? include entrepreneurship educators, scholarly researchers, public policy developers, economic development professionals, and community organizations striving to foster entrepreneurial activity.
Critical Acclaim
‘What do entrepreneurs create? Prominent, well-known authors Michael H. Morris and Donald F. Kuratko answer this question in their newest fascinating book. They emphasize that a venture is organic and that it is a living, breathing thing with a purpose and mission. Rather than view venture creation is an end, they explain the phenomenon as a journey. A very refreshing read indeed! Hats off to the authors.’
– Leo P. Dana, Montpellier Business School, France

‘This important book delivers what everyone wants to know – how to be entrepreneurial and all of the vast ways that entrepreneurship is manifested. The book is not only full of practical and essential lessons from two of the most prominent world class experts, but it is also rife with rare gems and insights that will guide anyone interested in learning about entrepreneurs. The passion, knowledge and experience that these authors bring jumps out on every page.’
– David Audretsch, Indiana University, US
Contents: Preface 1. The Entrepreneurial Journey: Intention versus Emergence 2. Venture Types: What Entrepreneurs Actually Create 3. Survival Ventures: Just Getting By 4. Lifestyle Ventures: Seeking Stability 5. Managed Growth Ventures: Learning to Fly 6. Aggressive Growth Ventures: Changing the World 7. A Resource-based Perspective on Venture Types 8. How Ventures Develop Unique Identities 9. The Fit between Type of Venture and Entrepreneur 10. Types Within Types 11. Why All Ventures Matter: Toward a Portfolio Perspective 12. Venture Types, Public Policy and Ecosystem Support Index

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