Highly recommended textbook on Entrepreneurial Learning Capabilities
Book review by Prof. Dr. Bernhard Kölmel on
Jones, O., Mcpherson, A., & Jayawarna, D. (2022). Resourcing the Start-up Business: Creating Dynamic Entrepreneurial Learning Capabilities. Routledge Masters in Entrepreneurship.
Drawing on the latest and most relevant research, this short textbook, Resourcing the Start-up Business: Creating Dynamic Entrepreneurial Learning Capabilities is an accessible handbook for entrepreneurs who want to make the most of the resources available to them when starting a new business. Authors Oswald Jones, Allan Macpherson and Dilani Jayawarna are Professors of Entrepreneurship at the University of Liverpool Management School. Part of the Routledge Masters in Entrepreneurship series, the book is a textbook for students of entrepreneurship and new venture creation worldwide. It provides a critical review of theory and practice, clear learning objectives and discussion questions for each section. The book focuses on a wide range of physical and non-physical resources available to entrepreneurs in the early stages of a new venture. This updated edition includes new material on crowdfunding and digitization, and introduces new chapters on lean startups and business models, idea generation and opportunity development, and incubators and accelerators.
Each chapter in the book is designed to support students with learning objectives, a synopsis, discussion questions, and a practical call to action. In addition, instructors can use a teaching guide and slides. Resourcing the Start-up Business is a valuable textbook for students around the world studying entrepreneurship and new venture creation.
Resourcing the Start-up Business: Creating Dynamic Entrepreneurial Learning Capabilities is a concise textbook written by Oswald Jones, Allan Macpherson, and Dilani Jayawarna that provides a comprehensive guide to entrepreneurs on how to harness tangible and intangible resources in the early stages of starting a new venture. The book is a valuable resource for students of entrepreneurship and new venture creation, and it offers numerous insights into the practical problems associated with establishing and managing smaller firms.
The authors adopt a different approach from traditional textbooks and focus solely on the decision to start a business and the first 12 months of operation. In this period, nascent entrepreneurs obtain, mobilize, and apply their resources, which is the most important phase associated with student ventures. The book emphasizes the importance of "dynamic entrepreneurial learning" and the need to create new businesses based on the principles of dynamic capabilities.
The second edition of Resourcing the Start-up Business brings in new and updated material on crowdfunding, digitalization, and the impact of Covid-19. The book also dedicates new chapters to lean start-ups and business models, idea generation and opportunity development, as well as business incubators and accelerators. It includes learning objectives, a summary, discussion questions, and a practical call to action in each chapter. The teaching guide and slides are also available for instructors.
Based on the most recent and relevant research, Resourcing the Start-up Business provides a global view of entrepreneurship and new venture creation. The book emphasizes the importance of using dynamic capabilities to create successful ventures and highlights the critical role of habits, routines, and heuristics in the context of entrepreneurship. There are several features that make this book an important resource for entrepreneurs:- It provides a practical, step-by-step guide to starting a new business, from idea generation to business model development, to launching a start-up.
- It includes a wealth of case studies that illustrate key points and offer valuable insights into how entrepreneurs overcome the practical problems of establishing new businesses and dealing with decisions about growth.
- It emphasizes the importance of dynamic entrepreneurial learning and the need to create new businesses based on principles of dynamic capabilities.
- It covers all the essential topics related to entrepreneurship, including the business life cycle from opportunity identification to maturity, and policy issues associated with supporting new businesses.
- It features discussion questions and practical call-to-action exercises in each chapter that help readers apply the concepts and ideas presented.
The book covers a wide range of topics related to entrepreneurship and new venture creation. It begins with an introduction to the case studies, which are used throughout the book to illustrate key points related to dynamic entrepreneurial learning. The authors have worked together on the study of entrepreneurship and the management of small businesses for more than 20 years, and their extensive knowledge and experience in this field are reflected in the book.
Chapter 1 introduces the importance of developing entrepreneurial learning skills and provides an overview of the book, highlighting the need to create new companies based on the principles of dynamic capabilities and providing a rationale for why traditional textbooks fall short in addressing this critical phase of start-up development.
Chapter 2 discusses the different types of capital resources available to entrepreneurs, including financial, human, social, and cultural capital. The authors emphasize the importance of mobilizing these resources in the early stages of a new venture and highlight the challenges and opportunities associated with each type of capital.
Chapter 3 covers the critical role of habits, routines, and heuristics in entrepreneurship. It is explained how habits and routines can be either beneficial or detrimental to a new venture and provide guidance on how to develop good habits and routines that foster entrepreneurial success.
Chapter 4 focuses on how to generate and identify business ideas and opportunities. The authors provide guidance on how to develop a sustainable competitive advantage and highlight the importance of differentiation and customer focus.
Chapter 5 covers the essential topic of business models and provides guidance on how to develop a successful business model for a new venture. The authors emphasize the importance of testing and refining the business model to ensure that it is viable and sustainable.
Chapter 6 discusses the various types of financing options available to entrepreneurs when launching a new venture. The authors cover traditional financing options such as loans, equity financing, and venture capital, as well as newer methods such as crowdfunding and peer-to-peer lending.
Chapter 7 focuses on developing a marketing strategy for a new venture. The authors provide guidance on how to identify and target customers, develop a marketing message, and create a marketing mix that resonates with the target audience.
Chapter 8 covers the essential topic of leadership in entrepreneurship. It provides guidance on how to develop and maintain effective leadership skills needed to successfully manage a new venture.
Chapter 9 discusses the importance of creativity and innovation in entrepreneurship, emphasizing the need to be creative and innovative in order to sustain competitive advantage in the long term.
Chapter 10 focuses on the essential topic of business growth. The authors provide guidance on how to manage growth effectively and highlight the importance of maintaining focus on the core business while pursuing growth opportunities.
Chapter 11 discusses the different types of incubators and accelerators available to entrepreneurs and provides guidance on how to choose the right incubator or accelerator based on the needs of the new venture and how to get the most out of these programs.
Chapter 12 provides a detailed account of contemporary entrepreneurship theories. The authors cover the essential topics related to entrepreneurship, including opportunity identification, resource mobilization, network development, and dynamic capabilities.
Finally, Chapter 13 addresses policy issues related to entrepreneurship, focusing on the key issues related to supporting new ventures. The chapter emphasizes the importance of creating an enabling environment for entrepreneurship and provides guidance on how policy makers can create effective policies to support new ventures.
In summary, Resourcing the Start-up Business is an essential resource for entrepreneurs who want to develop the skills and competencies needed to launch and grow successful new ventures. The book covers all the essential topics related to entrepreneurship, from idea generation to mature business management. It emphasizes the importance of dynamic entrepreneurial learning and provides practical guidance on how to leverage tangible and intangible resources in the early stages of a new venture. This book is a highly valuable textbook for students of entrepreneurship and new venture start-up.