Figure 5.1 Chris Johnson, CEO and founder of California-based company Rapid Brands, invented the Rapid Ramen Cooker and has since grown his offerings to a line of successful products. (credit: photo provided by Rapid Brands Inc.) Chapter Outline 5.1 Entrepreneurial Opportunity 5.2 Researching Potential…
4.1 Tools for Creativity and Innovation There are many practical approaches to being creative and developing innovations. Many programs and models encourage creative thinking. Some of the best encourage entrepreneurs to think like the stakeholders they hope their products and services…
Learning Objectives By the end of this section, you will be able to: The previous section defined creativity, innovation, and invention, and provided examples. You might think of creativity as raw; innovation as transforming creativity into a functional purpose, often…
Learning Objectives By the end of this section, you will be able to: One of the key requirements for entrepreneurial success is your ability to develop and offer something unique to the marketplace. Over time, entrepreneurship has become associated with creativity,…
Learning Objectives By the end of this section, you will be able to: Creativity, innovation, and invention are key concepts for your entrepreneurial journey. Fostering creativity and innovation will add essential tools to your entrepreneurial toolkit. In this chapter, first…
Figure 4.1 Creativity comes in many forms. It can be messy, but creativity is an essential element of innovation and inventiveness, both of which can drive entrepreneurship. (credit: modification of “On creativity” by Linus Bohman/Flickr, CC BY 2.0) Chapter Outline 4.1 Tools for…
3.1 Ethical and Legal Issues in Entrepreneurship The first section of this chapter explores the relationship between entrepreneurship, ethics, social responsibility, and the law. At times, ethical conduct and legal conduct may seem intertwined; in other circumstances, they are quite different.…
Learning Objectives By the end of this section, you will be able to: Successful entrepreneurs understand that the workplace of 2020 is quite different from that of 2000, just twenty years ago. As the heading to this section suggests, progressive…
Learning Objectives By the end of this section, you will be able to: To understand the role of a socially responsible entrepreneur, it is important to first look at the major tenets of corporate social responsibility (CSR) and the underlying…
Learning Objectives By the end of this section, you will be able to: What does it mean to be both ethical and socially responsible as an entrepreneur? When Martin Shkreli decided to increase the price overnight of a lifesaving HIV…