Concepts, Processes and Practice of Entrepreneurship: A Primer on Innovation and Venture Creation

This textbook focuses on entrepreneurship with special reference to value, venture, and wealth creation. In doing so, it elaborates on creation of consumer surplus and producer surplus through value creation, creation of ventures through different avenues and methods, and finally, creation of wealth of nations through enhancing supply of entrepreneurs and entrepreneurship talents.

To achieve this, the book covers the following topics: entrepreneurship history and theory, entrepreneur types, responsibilities and roles, entrepreneurial process, business modelling, venture creation and growth management, intellectual property rights protection, service and production ventures, international entrepreneurship, political economy of entrepreneurship, neo-entrepreneurship, and comparative entrepreneurship cultures.

Along with nearly 150 illustrations including tables, figures and pictures, and extensive real-world examples, readers will also find useful the hypotheses and matrices such as venture classification matrix, entrepreneurial opportunity diagnostic matrix, i-10 hypothesis, risk-return matrix, business model matrix, venture growth management scheme, intervention process, opportunity identification methods, innovation path, 5-C growth model, social entrepreneurship model, and risk-return-matrix that are newly introduced in the book.

Milton Rajaratne is the Senior Professor and an eminent scholar in Management in the Sri Lankan University of Peradeniya. He is serving in the fourth decade of his academic career. His academic works include 20 books in Management and Economics in addition to numerous research articles, chapters, and a few hundreds of articles and interviews published in national newspapers on contemporary political economic issues.