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SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Verified Chapters 1 - 16, Complete Newest Version With CAPSTONE CASES$19.99
SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Verified Chapters 1 - 16, Complete Newest Version With CAPSTONE CASES
SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Verified Chapters 1 - 16, Complete Newest Version With CAPSTONE CASES SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Verified Chapters 1 - 16, Complete Ne...
INTRODUCTION TO FINANCE FOR ENTREPRENEURS WS WS WS WS
FOCUS
The purpose of this first chapter is to present an overview of what entrepreneurial finance is about. In doing
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so we hope to convey to you the importance of understanding and applying entrepreneurial finance method
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s and tools to help ensure an entrepreneurial venture is successful.We present a life cycle approach to the te
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aching of entrepreneurial finance where we cover venture operating and financial decisions faced by the ent
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repreneur as a venture progresses from an idea through to harvesting the venture.
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LEARNING OBJECTIVES WS
LO 1.1: Characterize the entrepreneurial process.
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LO 1.2: Describe entrepreneurship and some characteristics of entrepreneurs.
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LO 1.3: Indicate several megatrends providing waves of entrepreneurial opportunities.LO 1.4:
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List and describe the seven principles of entrepreneurial finance.
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LO 1.5: Discuss entrepreneurial finance and the role of the financial manager.LO 1.6:
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Describe the various stages of a successful venture‘s life cycle.
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LO 1.7: Identify, by life cycle stage, the relevant types of financing and investors.LO 1.8:
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Understand the life cycle approach used in this book.
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CHAPTER OUTLINE WS
1.1 THE ENTREPRENEURIAL PROCESS WS WS
1.2 ENTREPRENEURSHIP FUNDAMENTALS WS
A. Who is an Entrepreneur? WS WS WS
B. Basic Definitions WS
C. Entrepreneurial Traits or Characteristics WS WS WS
D. Opportunities Exist But Not Without Risks WS WS WS WS WS
1.3 SOURCES OF ENTREPRENEURIAL OPPORTUNITIES WS WS WS
A. Societal Changes WS
B. Demographic Changes WS
C. Technological Changes WS
D. Emerging Economies and Global Changes WS WS WS WS
E. Crises and ―Bubbles‖ WS WS
F. Disruptive Innovation WS
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, 1.4 PRINCIPLES OF ENTREPRENEURIAL FINANCE WS WS WS
A. Real, Human, and Financial Capital must be Rented from Owners (Principle #1)
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B. Risk and Expected Reward go Hand in Hand (Principle #2)
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C. While Accounting is the Language of Business, Cash is the Currency (Principle #3)
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D. New Venture Financing Involves Search, Negotiation, and Privacy (Principle #4)
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E. A Venture‘s Financial Objective is to Increase Value (Principle #5)
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F. It is Dangerous to Assume that People Act Against Their Own Self-
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Interests(Principle #6) W
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G. Venture Character and Reputation can be Assets or Liabilities (Principle #7)
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1.5 ROLE OF ENTREPRENEURIAL FINANCE
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1.6 THE SUCCESSFUL VENTURE LIFE CYCLE
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A. Development Stage WS
B. Startup Stage WS
C. Survival Stage WS
D. Rapid-Growth Stage WS
E. Early-Maturity Stage WS
F. Life Cycle Stages and the Entrepreneurial Process
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1.7 FINANCING THROUGH THE VENTURE LIFE CYCLE WS WS WS WS WS
A. Seed Financing WS
B. Startup Financing WS
C. First-Round Financing WS
D. Second-Round Financing WS
E. Mezzanine Financing WS
F. Liquidity-Stage Financing WS
G. Seasoned Financing WS
1.8 LIFE CYCLE APPROACH FOR TEACHING ENTREPRENEURIAL FINANCESUMMAR
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DISCUSSION QUESTIONS AND ANSWERS WS WS WS
1. What is the entrepreneurial process?
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The entrepreneurial process comprises: developing opportunities, gathering resources, andmanaging
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and building operations with the goal of creating value.
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2. What is entrepreneurship? What are some basic characteristics of entrepreneurs?
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Entrepreneurship is the process of changing ideas into commercial opportunities and creatingvalue. W
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hile there is no prototypical entrepreneur, many are good at recognizing commercial opportunities, te
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nd to be optimistic, and envision a plan for the future.
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3. Why do businesses close or cease operating? What are the primary reasons why businessesfail?
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