book review on entrepreneurial management

8/19/2019 Book Review on entrepreneurial management

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''Book Review''Entrepreneurial Management

Submitted to

Mr. Anand Tuladhar

Course Instrutor

Entrepreneurship and Innovation

Submitted b!

"radipta #a$le

September %%nd& %()

South Asian Institute o$ Management

#athmandu



Entrepreneurial management

Entrepreneurial management an be de$ined as the pratie o$ taking entrepreneurial knowledge

and utili*ing it $or inreasing e$$etiveness o$ new business venture& whether it's big or medium

si*ed business. It $ouses on managerial strategies $or+

1. The new venture

2. The existing business and

3. The public service institution.

The e,isting business needs to learn di$$erent things as it $aes di$$erent problems& limitations&

and onstraints $rom the solo entrepreneur. The e,isting business knows how to manage but

needs to learn how to be an entrepreneur and how to innovate. The nonbusiness publi servieinstitution also $aes di$$erent problems. It has di$$erent learning needs. It is prone in making

di$$erent mistakes. And the new venture needs to learn how to be an entrepreneur and how to

innovate& but above all& it needs to learn how to manage .-or eah o$ these three the e,isting business& the publi servie institution and the new venture a spei$i guide to the pratie o$

entrepreneurship must be developed. The! need to know

/hat does eah have to do0

/hat does eah have to wath $or0

And what had eah better avoid doing0

Toda!1s businesses& espeiall! the large ones& simpl! will not survive in this period o$ rapid

hange and innovation unless the! a2uire entrepreneurial ompetene. A$ter the /orld /ar Ithere was rapid destrution o$ the e,isting businesses3espeiall! the big ones .There was not

muh big and middle4si*ed business. Toda!& it is not onl! in the sel$4interest o$ the man! e,isting big businesses to learn to manage themselves $or entrepreneurship as the! have a soial

responsibilit! to do. The! have a genuine soial threat toda! to emplo!ment& to $inanial

stabilit!& to soial order& and to governmental responsibilit!.

E,isting businesses will need to hange. In order to impart stabilit! and leadership e,isting

businesses will have to learn how to survive. And that the! an onl! do i$ the! learn to be

suess$ul entrepreneurs. E,isting business has the neessar! resoures& espeiall! the humanresoures. It has both the opportunit! and the responsibilit! $or e$$etive entrepreneurial

management as it has alread! a2uired managerial ompetene.

The same holds true $or the publi4servie institutions. "ubli servie institutions inludeshospitals $or hospitals& shools& universities& ommunit! agenies and volunteer organi*ations

suh as the Red Cross& the Bo! Souts& and the 5irl Souts hurhes and man! more. "ubli4

servie institutions have an opportunit! $or dealing with new tasks& $or e,perimentation& and $or

soial innovation. And responsibilit! to be entrepreneurial and to innovate. Beause o$ being



publi4servie institution& it $aes spei$i di$$erent obstales and hallenges& and are prone in

making di$$erent mistakes. Entrepreneurship in the publi4servie institution thus needs to be

disussed separatel!.

-inall!& there is the new venture. This will ontinue to be a main vehile $or innovation& as it has

been in all ma6or entrepreneurial periods and is again toda! in the new entrepreneurial eonom!o$ the 7nited States. There is indeed no lak o$ would4be entrepreneurs in the 7nited States& no

shortage o$ new ventures. But most o$ them& espeiall! the high4teh ones& have a great deal to

learn about entrepreneurial management and will have to learn it i$ the! are to survive.

The gap between the per$ormane o$ the average pratitioner and the leaders in entrepreneurship

and innovation is enormous in all three ategories.

The heart o$ entrepreneurial management is ontinuall! managing these vital management

issues+

/hat is this venture about0 8mission and values statement9

/here should it go0 8goals and ob6etives9

:ow will it get there0 8growth strateg!9

/hat does it need to get there0 8people and resoures9

/hat struture is best0 8organi*ational apabilities9

:ow muh mone! does it need and when0 8$inaning strateg!9

:ow will it reogni*e the $inal destination0 8vision o$ suess9

All organi*ations must a2uire entrepreneurial ompetene to keep pae with hanges in

eonom! and soiet!. Entrepreneurship is based on the same priniples& whether the entrepreneur

is an e,isting large institution or an individual starting his or her new venture. It makes little or

no di$$erene whether the entrepreneur is a business or a nonbusiness publi4servie

organi*ation& nor even whether the entrepreneur is a governmental or nongovernmental

institution. In ever! ase there is a disipline whih we all Entrepreneurial Management.

book review on entrepreneurial management

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