ABSTRACT
A body of mythology is bound is arise around new ventures and their management. Failures are less publicized, and, even when they are, details are lacking. Management deals with the control of things and persons through the use of skill and care with a goal of successfully controlling the course of events. A recent survey indicates that business people and others concerned with commercializing innovations see management problems as second only to marketing problems in listing barriers to successful commercial innovation. Corporate management has much to learn about how to identify entrepreneurs, how to train them, how to keep them happy through use of proper motivations, and how to organize in such a way as to optimize entrepreneurial qualities. The development of new products seems more successful in small companies than in large organizations. The essence of the small company is the entrepreneur who can put together the other factors of production in such a way to make a profit.
