Book Review: Entrepreneurship 2nd Ed. by William D. Bygrave and Andrew Zacharakis

“Entrepreneur,” according to the Oxford Dictionary, is “A person who sets up a business or businesses, taking on financial risks in the hope of profit.” In addition to taking on the risk and reaching for profit, the process also generates employment opportunities for others due to the latter’s lesser risk appetite and other reasons.

The process of entrepreneurship happens to be the engines of economic growth driving employment and innovations improving our quality of lives. In spite of being a very intricate process with lot of risks, there are some wonderful persons taking their leap into initiating and building enterprises.

The wide variety of management institutes and research centres happen to make light the burden of these enthusiastic men and women. It is by extensive research on previous success and failures of enterprises, that new entrepreneurs are capable to avoid the pitfalls made by their predecessors and achieve the maximum success in shortest possible time.

The much debated and argued concept of the titular subject finds deeper insight Entrepreneurship. Authors William D. Bygrave and Andrew Zacharakisbring bring across their experience of teaching in business schools and research of business cases to illustrate their concepts.

It is a hands-on approach used in this book with lot of real-life examples. The topics discussed in the book range from identifying the opportunity, then developing the idea into a successful and working business model, financing an entrepreneurial venture, while covering legal and tax issues, to name a few.

The examples bring around the concept clearly most of the time and give useful ideas to the reader in trying its real-world application. Focus of the book being undoubtedly on entrepreneurship in the U.S., with the same principles being open to application in other areas.

To summarize the review, well-researched books such as these would inspire present and future entrepreneurs to chart their course to success in faster and better ways.