Launching New Ventures provides tomorrow's entrepreneurs with the tools to launch a successful new business in a global marketplace. The text follows the logical development process, from initial idea through drafting of the actual business plan.The Fifth Edition represents the most current thoughts, ideas, and practices in the field of entrepreneurship. Allen focuses on the pre-start-up and start-up stages of a new business, with special emphasis on the process and activities that must take place prior to opening a new business. The student-friendly material includes real-world case studies, new venture checklists, and the advice from successful entrepreneurs and the author herself. Part One introduces the foundations of entrepreneurship and entrepreneurial opportunity that are important to understanding the decisions that entrepreneurs make, the environment in which they make those decisions, and the tasks they must undertake before launching a new company. Part Two addresses the heart of entrepreneurial activitythe testing of a new business concept through feasibility analysis. Part Three focuses on strategy and drafting the business plan. Part Four looks at planning for growth and change in the new organization.