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SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Chapters 1 - 16, Complete With CAPSTONE CASES €12,20
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SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition by J. Chris Leach, Ronald W. Melicher, Chapters 1 - 16, Complete With CAPSTONE CASES
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Entrepreneurial Finance
Établissement
Entrepreneurial Finance
SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition
by J. Chris Leach, Ronald W. Melicher, Chapters 1 - 16,
Complete With CAPSTONE CASES
SOLUTION MANUAL For Entrepreneurial Finance, 7th Edition
by J. Chris Leach, Ronald W. Melicher, Chapters 1 - 16,
Complete With CAPSTONE CASES
SOL...
INTRODUCTION TO FINANCE FOR ENTREPRENEURS xx!! xx!! xx!! xx!!
FOCUS
The purpose of this first chapter is to present an overview of what entrepreneurial finance is
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about. In doing so we hope to convey to you the importance of understanding and applying
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entrepreneurial finance methods and tools to help ensure an entrepreneurial venture is
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successful.We present a life cycle approach to the teaching of entrepreneurial finance where we
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cover venture operating and financial decisions faced by the entrepreneur as a venture progresses
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from an idea through to harvesting the venture.
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LEARNING OBJECTIVES xx!!
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
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1.4: 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
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manager.LO 1.6: 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
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investors.LO 1.8: Understand the life cycle approach used in this book.
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CHAPTER OUTLINE xx!!
1.1 THE ENTREPRENEURIAL PROCESS xx!! xx!!
1.2 ENTREPRENEURSHIP FUNDAMENTALS xx!!
A. Who is an Entrepreneur? xx!! xx!! xx!!
B. Basic Definitions xx!!
C. Entrepreneurial Traits or Characteristics xx!! xx!! xx!!
D. Opportunities Exist But Not Without Risks xx!! xx!! xx!! xx!! xx!!
1.3 SOURCES OF ENTREPRENEURIAL OPPORTUNITIES xx!! xx!! xx!!
A. Societal Changes xx!!
B. Demographic Changes xx!!
C. Technological Changes xx!!
D. Emerging Economies and Global Changes xx!! xx!! xx!! xx!!
E. Crises and ―Bubbles‖ xx!! xx!!
F. Disruptive Innovation xx!!
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, 1.4 PRINCIPLES OF ENTREPRENEURIAL FINANCE xx!! xx!! xx!!
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) x! xx!!
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 xx!!
B. Startup Stage xx!!
C. Survival Stage xx!!
D. Rapid-Growth Stage xx!!
E. Early-Maturity Stage xx!!
F. Life Cycle Stages and the Entrepreneurial Process
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1.7 FINANCING THROUGH THE VENTURE LIFE CYCLE xx!! xx!! xx!! xx!! xx!!
A. Seed Financing xx!!
B. Startup Financing xx!!
C. First-Round Financing xx!!
D. Second-Round Financing xx!!
E. Mezzanine Financing xx!!
F. Liquidity-Stage Financing xx!!
G. Seasoned Financing xx!!
1.8 LIFE CYCLE APPROACH FOR TEACHING ENTREPRENEURIAL
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FINANCESUMMARY
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DISCUSSION QUESTIONS AND ANSWERS xx!! xx!! xx!!
1. What is the entrepreneurial process?
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The entrepreneurial process comprises: developing opportunities, gathering resources,
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andmanaging 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 xx!! xx!! xx!! xx!! xx!! xx!! xx!! xx!! xx!! xx!!
creatingvalue.
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commercial opportunities, tend 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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