If you encounter problems viewing this email go to http://www.publicforuminstitute.org/nde/news/nde-news.htm

Week of June 11 - 17, 2007

SUMMER BOOKS ISSUE

Welcome to the NDE-news Summer Books Issue. Below we have listed new and notable books for those with an interest in the entrepreneurial economy. For even more titles, check out last year's Holiday Books issue

Good Capitalism, Bad Capitalism and the Economics of Growth and Prosperity

William J. Baumol, Robert E. Litan, and Carl J. Schramm (Yale University Press, 2007)

The authors’ basic claim is that there is no such thing as a monolithic capitalist economic system. Instead, four different models -- ranging from state-guided capitalism to entrepreneurial capitalism -- exist in various forms around the world. The authors point to a blend of entrepreneurial and big-firm capitalism as the preferred model for an effective and successful response to the ever-changing global economy.

*Note: We also reviewed Good Capitalism, Bad Capitalism a few weeks ago on its formal release date.

The Entrepreneurial Society

David Audretsch (Oxford University Press, 2007)
 
David Audretsch is well-known in academic circles for numerous articles and papers on the entrepreneurial economy. In The Entrepreneurial Society, he presents a compelling statement of how entrepreneurship has helped drive America to global financial leadership. He contends that the entrepreneurial economy represents a strategic response to the growing importance of knowledge as the key factor in economic success. In the past, capital and labor were the key ingredients for prosperity. Today, knowledge capital and entrepreneurship capital have assumed a more pre-eminent role.

The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics

Eric Beinhocker, (Harvard Business School Press, 2006)

Evolutionary or complexity economics is a hot topic in academic circles. If you’re looking to learn more about this line of thinking, The Origin of Wealth is a good place to start. The book summarizes various critiques of neo-classical economics and then offers an alternative set of explanations based on evolutionary patterns and thinking.

My Start-Up Life: What a (Very) Young CEO Learned on his Journey Through Silicon Valley

Ben Casnocha, (Jossey-Bass, 2007)

Casnocha started his first business at age 12 and has been at it ever since. Now, at the ripe old age of 19, he’s decided to share what he’s learned along the way. The book is largely focused on the challenges of trying to balance a normal teenager’s life with that of a start-up entrepreneur. Ben not only had to worry about business; he had to worry about graduating from high school. It’s a good story and it contains a lot of usefulideas about what it takes to succeed with a start-up.

Financing Innovation in the United States: 1870 to Present

Naomi R. Lamoreaux and Kenneth L. Sokoloff (eds.), (MIT Press, 2007)

This edited academic volume takes the long view in its assessment of America’s innovation policies. Since its founding, America has been remarkably and consistently successful in fostering innovation. This volume looks at this historical legacy and highlights important causal factors such as a transparent and low cost patent system, tight linkages between inventors and commercial firms, and effective government R&D programs. The book’s varied chapters take deep looks into links between financing and new industries like telecommunications, automobiles and information technology.

Founders at Work: Stories of Startups’ Early Days

Jessica Livingston, (Apress, 2007)

The best way to learn about the challenges of a start-up business is to go out there and do it yourself. But if you’re not ready to take the entrepreneurial leap, this book offers another peek into life at a start-up. Founders at Work is a compilation of interviews with founders of technology companies, such as Apple, Hotmail, PayPal, and Adobe. The 32 interviews provide useful information and maybe some inspiration, too.

Marketing that Works: How Entrepreneurial Marketing Can Add Sustainable Value to any Sized Company

Leonard M. Lodish, Howard L. Morgan, and Shellye Archambeau (Wharton School Publishing, 2007)

The authors bring a wealth of experience to this review of the latest thinking about marketing. Lodish is a long-time Wharton school professor, and Morgan and Archambeau both have diverse private sector experience as entrepreneurs and investors. They use the term “entrepreneurial marketing” to refer to an approach that is flexible, responsive, and unorthodox. This is a very helpful guide for entrepreneurs seeking to improve their marketing skills.

Prophet of Innovation: Joseph Schumpeter and Creative Destruction

Thomas McCraw, (Belknap Press, 2007)

Best known for developing the concept of creative destruction, Schumpeter is one of the intellectual forefathers of today’s current thinking about the importance of entrepreneurship and innovation. If you’re interested in learning more about Schumpeter the theorist and Schumpeter the man, this is the best place to start. McCraw’s biography tells the story of Schumpeter’s life, but also offers an excellent introduction to his ideas and their impact on economic thinking today.

The Strategy Paradox: Why Committing to Success Leads to Failure (and what to do about it)

Michael E. Raynor, (Currency, 2007)

Maybe the idea of strategic planning is over-rated. Raynor’s basic claim is that too many firms are too timid when they plan for the future. Success often requires bold action and ideas, but these very ideas are also the most likely to fail. Raynor does not recommend that managers “bet the company” on risky ideas. Instead, he recommends an approach called “Strategic Flexibility,” where managers develop a range of options for future strategic directions.

The Black Swan: The Impact of the Highly Improbable

Nassim Nicholas Taleb, (Random House, 2007)

The black swan is a metaphor that refers to rare and unpredictable events that complicate the lives of all of us who try to develop forecasts or plans for the future. Anyone who lived through 9/11 knows that unpredictable or unexpected events can change the course of history. How can businesses and individuals respond? Taleb does not recommend that we identify new ways to predict the future. “Black Swans” are, by definition, unpredictable. Thus, the best alternative is to recognize that they occur and to be prepared to flexibly respond in a changed environment.
 

A Practical Guide to Business Incubator Marketing

Corinne Colbert, (NBIA Publications, 2007)

Real world tips and advice from more than 50 incubation professionals is what you get from the latest offering from the National Business Incubation Association. Chapters on market research, market planning and specific marketing techniques -- all emphasizing cost-effectiveness -- provide applicable information for those looking for basic information on how to stretch their marketing dollar. Check the NBIA store for this one.

The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

National Dialogue on Entrepreneurship

All stories © 2007 The Public Forum Institute
Content from this newsletter may be reproduced for non-commercial purposes with proper attribution to the National Dialogue on Entrepreneurship and a link to www.publicforuminstitute.org/nde.