Entrepreneurship - Theoretical and Practical Guide

 


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In the book “Entrepreneurship-Theoretical and practical guide on all aspects for starting a successful small business", Dr Mirjana Radoviæ Markoviæ gives important guidelines and tools necessary to start, operate and succeed in a business.

With the intent to present theoretical as well as practical advice, the author has presented a case study based on MS Project. This is of special value, and will serve as a catalyst to motivate business ideas from the very beginning to their realization in practice. It will help entrepreneurs form opinions about the overall business climate and how their ideas might fare under current economic conditions. As they become more convinced of the potential of their business ideas, they are led to delve deeper into specifics that will ultimately become part of a formal business plan. As they answer the questions posed by Dr. Radoviæ Markoviæ, and as they progress through the process, all will contribute to their potential for success.

Dr. Radoviæ Markoviæ pointed out that ideas are the “currency of entrepreneurs” and therefore they must play with many ideas and see which ones bring money and success. In other words, entrepreneurs and managers must consider not just one, but multiple, windows of opportunity - including customers, competitors, capital markets, technical evolution, and government policy among others. To further complicate matters, these windows of opportunity vary in importance over time and are constantly shifting, opening a crack or threatening to close altogether. As a result, entrepreneurs must get the timing right to get through the windows that matter in a timely manner. Waiting too long for the “right opportunity" could mean to opportunity is lost. At the same time though, if we just jump on any old idea for the sake of entrepreneurship we risk being tied up when a good idea really does come along. For some entrepreneurs, getting the idea, and imagining the possibilities, is the easy part. But on the other side, there are a lot of people who have all the skills and drive, some even have the money, and they are held up waiting for the right idea.

Whether we have the right idea or have to wait for it, the most difficult element is turning the idea into a business. The reality is that some businesses may not be profitable enough to provide a living. Other business ideas simply aren't marketable in some trade area or there might be too much competition already. They may not have enough capital to get the business off the ground or may fail at securing adequate business financing. While innovative ideas can give an advantage in the short term, a successful business owner is not necessarily the one that provides the best idea, but the one who can successfully execute the idea. This book provides the tools to assist the new entrepreneur to make an effective decision whether or not to open a particular small business. The book also provides a number of techniques, which can be used to help stimulate the business search process.

Part of the book is devoted to women entrepreneurship. In that section, the author presents the latest results from research related to women leaders and their position in the business world. Fact are provided related to how people view women leaders and whether they trust them, with data divided into gender, age and level of education. The author compares results from recent research studies from the USA and Serbia and Montenegro. She has drawn some important conclusions concerning special characteristics of Balkan Region.

Until recently, entrepreneurship was considered by many to be the last bastion of male dominance in the business world. This is no longer true. Dr. Radovic has concluded that women are now more motivated and ready than ever to seek their professional dreams and achieve a leadership role in business, not only in Serbia and the Balkan Region, but throughout the world. Women are now starting more businesses than are being started by men. In spite of this fact, many men still do not believe women should be in these positions and do not respect those that are successful in business. The role of women in the business world is rapidly expanding, and this fact presents challenges that men must these men are just going to have to accept it and face a reality check, because no matter what they feel and how much they are against it, the world is changing and it's going to happen regardless of how they feel. Finally, Dr. Radoviæ Markoviæ provided key points from her research, projecting the future position of women engaged in business, so long dominated by men.

Dr. Radovic’s book is especially suited to businesspersons who want to own or assume a management position in an existing small business. It also is superior resource for students who are prospective entrepreneurs and those interested in supporting entrepreneurs (bankers, venture capitalists, lawyers, accountants, private investors, advisers and inventors).

The book could be ordered on email address:mradovic@gmail.com

Dr. Radovic has spent over twenty years as a scientist. She has been a professor, a researcher and an author of eight books devoted to business management and entrepreneurship. Dr. Radovic has written numerous articles, reviews and essays in a number of professional journals and popular magazines.

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