Origin and Evolution of a New Enterprise

Author: Bi Haidi
Publisher:
Publish Date: 2004-05-01
Features: Anyone who wants to start or develop a business should read this book. It combines rigorous theoretical analysis with field research and data from hundreds of new enterprises. As a third-generation entrepreneur, I found that Bi Haidi accurately captures the challenges entrepreneurs face and the open and free strategies they adopt, which we call the mysterious phenomenon of entrepreneurship. What exactly is the entrepreneurial spirit? What do entrepreneurs do? Do success require special qualities and skills, or is it just about luck? Can large companies learn from the entrepreneurial experience of entrepreneurs? What is the role of venture capital? In a field filled with anecdotes and folklore, this landmark work blends over a decade of in-depth research with contemporary business and economic theory, providing a comprehensive analytical framework for understanding entrepreneurship and offering a fresh and profound perspective. Through the study of hundreds of successful enterprises, the author finds that typical businesses start from humble beginnings and operate with limited resources. Well-funded plans supported by venture capital are exceptions. Entrepreneurs like Bill Gates and Sam Walton initially seized opportunities on a small scale with high uncertainty, with little capital, minimal market research, and limited technological innovation. Compared to the ability to foresee the future, negotiate transactions, and recruit top teams, the ability to handle uncertainty and unexpected situations, face-to-face direct selling, and manage second-rate employees is more important. Transforming a humble new enterprise into a globally recognized large company requires thorough changes. The company no longer adopts opportunistic adjustment strategies to adapt to the market but follows ambitious strategic guidance. This requires entrepreneurs to possess qualities that may not be important in the early stages of entrepreneurship, such as ambition and risk-taking. Mature companies must carry out innovation activities in an organized manner. Companies like Intel and Merck concentrate their resources on large-scale innovation projects, while proactive entrepreneurs often lack the means. The success of large innovation projects requires careful selection of investment plans and prudent formulation of investment strategies. Moreover, it requires coordination of numerous ordinary employees rather than a few self-motivated genius employees. For anyone who dreams of starting their own business, entrepreneurs or managers seeking to develop existing companies, as well as scholars who want to understand this important economic phenomenon, this clear and concise management book is a must-read.