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The Origin and Evolution of New Businesses 1st Edition
In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and economics. The result is a comprehensive framework for understanding entrepreneurship that provides new and penetrating insights. Examining hundreds of successful ventures, the author finds that the typical business has humble, improvised origins. Well-planned start-ups, backed by substantial venture capital, are exceptional. Entrepreneurs like Bill Gates and Sam Walton initially pursue small, uncertain opportunities, without much capital, market research, or breakthrough technologies. Coping with ambiguity and surprises, face-to-face selling, and making do with second-tier employees is more important than foresight, deal-making, or recruiting top-notch teams.
Transforming improvised start-ups into noteworthy enterprises requires a radical shift, from "opportunistic adaptation" in niche markets to the pursuit of ambitious strategies. This requires traits such as ambition and risk-taking that are initially unimportant. Mature corporations have to pursue entrepreneurial activity in a much more disciplined way. Companies like Intel and Merck focus their resources on large-scale initiatives that scrappy entrepreneurs cannot undertake. Their success requires carefully chosen bets, meticulous planning, and the smooth coordination of many employees rather than the talents of a driven few.
This clearly and concisely written book is essential for anyone who wants to start a business, for the entrepreneur or executive who wants to grow a company, and for the scholar who wants to understand this crucial economic activity.
- ISBN-100195170318
- ISBN-13978-0195170313
- Edition1st
- PublisherOxford University Press
- Publication dateOctober 16, 2003
- LanguageEnglish
- Dimensions9.06 x 1.11 x 6.03 inches
- Print length432 pages
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- Publisher : Oxford University Press; 1st edition (October 16, 2003)
- Language : English
- Paperback : 432 pages
- ISBN-10 : 0195170318
- ISBN-13 : 978-0195170313
- Item Weight : 1.43 pounds
- Dimensions : 9.06 x 1.11 x 6.03 inches
- Best Sellers Rank: #621,556 in Books (See Top 100 in Books)
- #1,007 in Linguistics Reference
- #3,767 in Entrepreneurship (Books)
- #6,907 in Leadership & Motivation
- Customer Reviews:
About the author

Amar Bhidé, Schmidheiny Professor at the Fletcher School, has served as Glaubinger Professor of Business at Columbia University, a consultant at McKinsey & Company and a proprietary trader at E.F. Hutton. Bhidé is a founding member of the Center on Capitalism and Society, editor of Capitalism and Society, and has written about the financial crisis in the Wall Street Journal, Business Week, and Forbes.
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Bhide's concept of 'Investment, Uncertainty & Profit' is in my opinion a principle of entrepreneurship worth the price of the book. The concept has been used a lot and probably the best re-use / improvement was written by Keith McFarland in 'The Breakthrough Company', chapter Upping the Ante.
This is a major book that changed the academic and professional work on how we think about entrepreneurship. Thus, many books have been using Bhide's finding extensively including 'Extradordinary Entrepreneurship', which is to me the finest and very best book for any hands-on entrepreneur.
To help spread the word, some of us have formed the new, free Small Business Chamber of Commerce to cooperate with local chambers across Colorado and eventually beyond to offer an alternative to the unhelpful SBA venture capital approach to startup. For more see our website SmallBizChamber(dot)org or our Facebook Page Facebook.com/Small.Business.Chamber
A must read, in terms of developing our career, in a start-up time!
Reviewed in the United States on January 4, 2021
If you can wade through its sometimes text book-like prose, you will come away with some tremendous insightful nuggets. Bhide does a great job of blowing away some generally held myths about business creation and the men and women behind growing companies. Bottom line: don't stereotype them.
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