584 ENTREPRENEURSHIP
biotechnology firm, 526
legal forms of organization, 283, 285
reciprocity, processes of, 363–364
selection criteria, 362–363
patents
biotechnology industry, 517
protection of, 80, 82
pay-for-content business model, 115
pay one price pricing, 221
payment by customers, 448
payments perspective, 124
Penrose effect, 128
perception, changes in, 20
performance and forfeiture provisions, 336
permanent working capital, 256
personal leaders, entrepreneurs as, 341, 342
personal networks, 359–360
personal selling, 230–231
personality characteristics
of entrepreneurs, 51–54
limits of, 54–55
persuasion stage of diffusion process, 214, 215
phased (staged) financing, 256, 315
physical resources
Internet marketing, 235
strategic resources, 43–44, 45, 51
piggyback rights, 309
pilot stores, 414
plant patents, 80
political and governmental analysis, 78–82
political risk, 78, 82
Popular Mechanics, 139
portfolio tool, explained, 403
positive feedback, 131
positive pull, 56, 58
positive push, 56, 58
power companies, 234
pre-emptive financing, 307
pre-emptive pricing, 220
preferred stock term sheet, 330–333
preserve the core, explained, 352, 355
prewriting business plans, 180
price, explained, 216
price corridor of the mass, explained, 403–404
price cutting, 99–100, 101
price-earnings (P-E) ratio, 278–279
price point breaks, 221
price umbrella, 100
pricing
business plans, 170, 192
IPOs, 297
marketing activities, 216–222
pricing tied to variable, 221
primary data, 211
Principia Mathematica (Russell and Whitehead), 20
principled negotiation, 324–325
privacy during negotiations, 325
private investors, 265–266
private placements, 285–287
privatization, 123
problem definition, 391–392, 393
proceeds, use of, 164, 165, 423
process innovation, 85–87
process need, 19
process-oriented communication, 348
process patents, 517
process quality, 24
procyclical ventures, 84
product(s). See also product(s) and services
business plans, 183–184
defined, 222
differentiation of, 303, 305
executive summaries in business plans, 165
marketing activities, 222–225
new, as major entry wedge, 117, 118, 120
new venture creation, 423
quality, and corporate reputation, 46
rivalry between firms, 102
sales forecasting, 242
scarce, allocating, 231
similarity, and buyer power, 94
testing, 211–212
product-based approach to quality, 24
product consistency, 222
product depth, 222
product/market/technology configuration (P/M/T),
167
product mix, 222
product patents, 517
product width, 222
product(s) and services. See also product(s)
avoidance products and services, 223
biotechnology firm, 525
executive summaries in business plans, 164
production
business plans, 169, 189–190, 203–204
production cycle, 257–258, 259
production orientation, 209
professional entrepreneurs, 14, 15
professional investors, 302
profit as business purpose, 207
PROFIT model of resources, 43–51
progress, vision stimulating, 352, 355
project execution, 395
projections and returns, 176–177
promoter dilemma, 371–372
promotion
business plans, 192–193
marketing activities, 227–232
new venture creation, 433–434
promotional mix, 232
property-based resources, 35–36
property rights, 125
prospecting, in marketing, 230
prospectus, preparation of, 296
prosperity, 12
provocation, as creativity technique, 67
psychological approach to entrepreneurship, 51–55
public offerings, 267, 268, 269–270
public relations, 231
public service, 207
publicity, 231