ABSTRACT
After studying this chapter you will be able to:
Distinguish between summative and formative business evaluations and identify the measures of each evaluation method.
Identify the key elements of an entrepreneurial business in order to list the measures that evaluations need to address.
Be proficient in the different processes and means for evaluation and fit them to the different measures of the key elements of success.
Distinguish between the different models for evaluation of a new venture’s effectiveness and success and consequently develop programs to maintain the strong elements and minimize the appearance or effect of the weak ones.
Recognize the output versus process measures that should be addressed in evaluating the business’s success.
Explain the process of re-evaluation of programs that have been designed according to previous evaluation procedures, and design and then activate new programs in line with the findings raised in the re-evaluation procedure.
