Entrepreneurship in Action / Edition 2

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Overview

Fun, contemporary, and easy to read, this book conveys the excitement and reality of entrepreneurship. Coulter focuses on the actual tasks and activities of the entrepreneur—from researching venture feasibility, to launching the venture, to managing growth. KEY TOPICS Other chapter topics include the context of entrepreneurship, the details of planning and organizing the venture, and managing processes and people. For up-and-coming entrepreneurs and owners of small businesses.

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Product Details

  • ISBN-13: 9780131011014
  • Publisher: Prentice Hall
  • Publication date: 11/19/2002
  • Edition description: 2ND
  • Edition number: 2
  • Pages: 384
  • Product dimensions: 8.70 (w) x 9.90 (h) x 1.30 (d)

Read an Excerpt

Welcome to the second edition of Entrepreneurship in Action! Entrepreneurship continues to be a significant part of our economic health and vitality in the United States. And in this book, I've tried to bring to you the excitement and challenges of what it's like to be an entrepreneur in today's world. I believe my book is unlike any other entrepreneurship textbook available. Why? Because it emphasizes, explains, and celebrates the realities of being an entrepreneur—it shows entrepreneurship in action. I first wrote this book because I felt ;here was a definite need for a book that conveyed the exciting realities of entrepreneurship; now after finishing the second edition, I still believe that! Entrepreneurship is such a fascinating topic-why not have a book that brings that excitement to students studying entrepreneurship? How does the second edition of Entrepreneurship in Action do this? Through many of the unique features introduced in the first edition which have been retained and enhanced. These features include the following:

Chapter-Opening Entrepreneurship in Action Case

Every chapter opens with a description of a real entrepreneur in action, facing the challenges that entrepreneurs must deal with, and making good and even some not-so-good decisions. The entrepreneurs profiled are Daymond John of FUBU (Chapter 1), Gary Hirshberg of O'Naturals (Chapter 2), Sara Blakely of Spanx (Chapter 3), Lisa Joronen of SOL Cleaning Service (Chapter 4), Karen Drakenberg of StrawberryFrog (Chapter 5), Nicholas Graham of Joe Boxer Company (Chapter 6), Joe Montgomery of Cannondale Corporation (Chapter 7), Glen Kelman of Plumtree Software (Chapter 8), and Corinna Lathan of AnthroTronix (Chapter 9). Each case ties in to the chapter material and is referenced at various points throughout the chapter. These fun stories relate the excitement of the entrepreneurial adventure. It certainly is an adventure that you're embarking on!

Entrepreneurship in Action

This chapter box provides examples of entrepreneurs from different types and sizes of entrepreneurial ventures. You'll discover what's involved with being an entrepreneur, and you'll read about different entrepreneurial approaches and philosophies. Again, it's another way to see entrepreneurship in action.

Rapid Review

In multiple places throughout each chapter, you'll find a box that lists review questions addressing the material that you've just read. These questions will help you review and assess whether you understand the material. I've also used this innovation in my other textbooks (Management with Stephen P Robbins and Strategic Management in Action), and I believe that you'll find it to be a convenient and useful way to review and reinforce key chapter information.

FYI (For Your Information)

This chapter box provides information about a particularly interesting entrepreneurial topic or idea. Each chapter has a number of FYI Boxes. Some of the topics covered in the FYIs include male versus female entrepreneurs, gazelles, combating sexual harassment, building customer loyalty, budgeting basics, values-based management, developing your creativity, and the ABCs of trademarks and patents. I think you'll find the information included in these FYI Boxes to be timely and useful in your entrepreneurial journey.

The Grey Zone

As I sit writing this preface in the summer of 2002, the collapse of Enron and WorldCom and other well-publicized business scandals are reinforcing the importance of ethical decision making in business. Entrepreneurs do (and will) face ethical and social responsibility challenges as they pursue their entrepreneurial dreams. This chapter box describes some of these issues. You won't just read about these issues, you're asked to think critically about what you would do in this situation. As you'll find out, there are no easy answers when it comes to these grey zone dilemmas.

BizPlan Pro Exercises

Business Plan Pro software provides students with a step-by-step approach to creating a comprehensive business plan. The software is designed to stimulate students thinking about the many tasks and decisions that go into planning and running a business. Preformatted templates, charts, and tables do the mechanics so students can focus on the thinking.

The end-of-chapter Business Plan Pro exercises included in Entrepreneurship in Action, 2e, focus on chapter-related material. By working through the exercises, students will gain a practical business-planning skill as they begin to craft a winning business plan.

Sweat Equity

You may have heard the term sweat equity before. It refers to the hard work and effort—the sweat—an entrepreneur puts into an entrepreneurial venture in order to build equity value. This end-of-chapter feature presents six to ten assignments that you must "sweat" to complete. These sweat equity assignments cover a broad spectrum of entrepreneurial topics. Many involve writing brief research papers or researching a topic on the Web.

I tried to design these assignments to show you the reality of entrepreneurship—again, entrepreneurship in action.

Entrepreneurship in Action Cases

These Entrepreneurship in Action cases provide descriptions of entrepreneurs and the challenges and issues they're facing. Discussion questions at the end of each case get you "into" the case and ask for your input on the challenges, issues, and dilemmas that are presented. Five of these cases are in every chapter—one is the chapter-opening Entrepreneurship in Action case—and they cover a broad spectrum of entrepreneurial businesses. Some examples of the entrepreneurial ventures described include an online jewelry retailer, a CPA firm, an artisan bread bakery, and a bike bag manufacturer. These cases are fun to read and provide another dose of entrepreneurship in action.

Video Cases

In addition to the written cases, one video case is included in every chapter. These video cases, which are video segments from Business Now (www.businessnow.com), are an excellent way to really see entrepreneurship in action. You'll hear the voices and see these real-life entrepreneurs as they deal with current issues and challenges. The written cases include discussion questions for you to answer.

Appendix

The Appendix provides some additional information to help you in your journey to being a successful entrepreneur. There are two major parts included in the Appendix. The first section is an annotated list of entrepreneurship Web sites. The Web sites included in the listing provide all kinds of information about starting and managing an entrepreneurial venture. The second section includes five additional Entrepreneurship in Action cases that you can read for your own enjoyment or that your professor may assign you to read and analyze.

As you can see by the descriptions of all the unique features in Entrepreneurship in Action, I've tried to provide you as close an experience to what it's like to be an entrepreneur in action, other than actually being one. I truly hope that the excitement and exhilaration of being an entrepreneur comes through and motivates you to pursue the fun, but demanding, journey of becoming one.

Supplements

  • Instructor's Manual with Test Item File and Video Guide
    The Instructor's Manual contains Learning Objectives, Expanded Chapter Outlines with teaching tips and highlighted text features, and teaching notes to end-of-chapter material for each chapter in the text. Each Test Item File chapter contains true/false, multiple choice, . chapter essay, and case essay questions. Also included is a Video Guide that includes summaries and teaching notes for the chapterending Business Now video cases.
  • Companion Web Site
    The Prentice Hall Companion Web site features an interactive online student study guide with multiple choice, true/false, and Internet-based essay questions that accompany each chapter in the text. Professors will also find downloadable versions of the Instructor's Manual, Test Item File, Video Guide, and PowerPoints.
  • Business Now Videos
    Brand new to this edition, Prentice Hall is pleased to offer exciting new BusinessNOW video cases. BusinessNOW is a fast-paced television news magazine that takes viewers on location and behind closed doors to look at America's most interesting companies and the corporate executives who run them. These videos offer interesting, up-to-date content pertaining to the topics raised in Entrepreneurship in Action, 2e, and were chosen specifically for their tie-ins to topics related to entrepreneurship.
  • Instructor's Resource CD-ROM
    Included on one CD-ROM, professors will find the Instructor's Manual, Test Item File, Video Guide, and PowerPoint presentation.
Read More Show Less

Table of Contents

1. Entrepreneurs and Entrepreneurship.

2. The Context of Entrepreneurship.

3. Researching the Venture's Feasibility.

4. Planning the Venture.

5. Organizing the Venture.

6. Launching the Venture.

7. Managing Processes.

8. Managing People.

9. Managing Growth and Other Entrepreneurial Challenges.

Appendix.

Websites for Entrepreneurs.

Additional Entrepreneurship in Action Cases.

Read More Show Less

Preface

Welcome to the second edition of Entrepreneurship in Action! Entrepreneurship continues to be a significant part of our economic health and vitality in the United States. And in this book, I've tried to bring to you the excitement and challenges of what it's like to be an entrepreneur in today's world. I believe my book is unlike any other entrepreneurship textbook available. Why? Because it emphasizes, explains, and celebrates the realities of being an entrepreneur—it shows entrepreneurship in action. I first wrote this book because I felt ;here was a definite need for a book that conveyed the exciting realities of entrepreneurship; now after finishing the second edition, I still believe that! Entrepreneurship is such a fascinating topic-why not have a book that brings that excitement to students studying entrepreneurship? How does the second edition of Entrepreneurship in Action do this? Through many of the unique features introduced in the first edition which have been retained and enhanced. These features include the following:

Chapter-Opening Entrepreneurship in Action Case

Every chapter opens with a description of a real entrepreneur in action, facing the challenges that entrepreneurs must deal with, and making good and even some not-so-good decisions. The entrepreneurs profiled are Daymond John of FUBU (Chapter 1), Gary Hirshberg of O'Naturals (Chapter 2), Sara Blakely of Spanx (Chapter 3), Lisa Joronen of SOL Cleaning Service (Chapter 4), Karen Drakenberg of StrawberryFrog (Chapter 5), Nicholas Graham of Joe Boxer Company (Chapter 6), Joe Montgomery of Cannondale Corporation (Chapter 7), Glen Kelman of Plumtree Software (Chapter 8), and Corinna Lathan of AnthroTronix (Chapter 9). Each case ties in to the chapter material and is referenced at various points throughout the chapter. These fun stories relate the excitement of the entrepreneurial adventure. It certainly is an adventure that you're embarking on!

Entrepreneurship in Action

This chapter box provides examples of entrepreneurs from different types and sizes of entrepreneurial ventures. You'll discover what's involved with being an entrepreneur, and you'll read about different entrepreneurial approaches and philosophies. Again, it's another way to see entrepreneurship in action.

Rapid Review

In multiple places throughout each chapter, you'll find a box that lists review questions addressing the material that you've just read. These questions will help you review and assess whether you understand the material. I've also used this innovation in my other textbooks (Management with Stephen P Robbins and Strategic Management in Action), and I believe that you'll find it to be a convenient and useful way to review and reinforce key chapter information.

FYI (For Your Information)

This chapter box provides information about a particularly interesting entrepreneurial topic or idea. Each chapter has a number of FYI Boxes. Some of the topics covered in the FYIs include male versus female entrepreneurs, gazelles, combating sexual harassment, building customer loyalty, budgeting basics, values-based management, developing your creativity, and the ABCs of trademarks and patents. I think you'll find the information included in these FYI Boxes to be timely and useful in your entrepreneurial journey.

The Grey Zone

As I sit writing this preface in the summer of 2002, the collapse of Enron and WorldCom and other well-publicized business scandals are reinforcing the importance of ethical decision making in business. Entrepreneurs do (and will) face ethical and social responsibility challenges as they pursue their entrepreneurial dreams. This chapter box describes some of these issues. You won't just read about these issues, you're asked to think critically about what you would do in this situation. As you'll find out, there are no easy answers when it comes to these grey zone dilemmas.

BizPlan Pro Exercises

Business Plan Pro software provides students with a step-by-step approach to creating a comprehensive business plan. The software is designed to stimulate students thinking about the many tasks and decisions that go into planning and running a business. Preformatted templates, charts, and tables do the mechanics so students can focus on the thinking.

The end-of-chapter Business Plan Pro exercises included in Entrepreneurship in Action, 2e, focus on chapter-related material. By working through the exercises, students will gain a practical business-planning skill as they begin to craft a winning business plan.

Sweat Equity

You may have heard the term sweat equity before. It refers to the hard work and effort—the sweat—an entrepreneur puts into an entrepreneurial venture in order to build equity value. This end-of-chapter feature presents six to ten assignments that you must "sweat" to complete. These sweat equity assignments cover a broad spectrum of entrepreneurial topics. Many involve writing brief research papers or researching a topic on the Web.

I tried to design these assignments to show you the reality of entrepreneurship—again, entrepreneurship in action.

Entrepreneurship in Action Cases

These Entrepreneurship in Action cases provide descriptions of entrepreneurs and the challenges and issues they're facing. Discussion questions at the end of each case get you "into" the case and ask for your input on the challenges, issues, and dilemmas that are presented. Five of these cases are in every chapter—one is the chapter-opening Entrepreneurship in Action case—and they cover a broad spectrum of entrepreneurial businesses. Some examples of the entrepreneurial ventures described include an online jewelry retailer, a CPA firm, an artisan bread bakery, and a bike bag manufacturer. These cases are fun to read and provide another dose of entrepreneurship in action.

Video Cases

In addition to the written cases, one video case is included in every chapter. These video cases, which are video segments from Business Now ( www.businessnow.com ), are an excellent way to really see entrepreneurship in action. You'll hear the voices and see these real-life entrepreneurs as they deal with current issues and challenges. The written cases include discussion questions for you to answer.

Appendix

The Appendix provides some additional information to help you in your journey to being a successful entrepreneur. There are two major parts included in the Appendix. The first section is an annotated list of entrepreneurship Web sites. The Web sites included in the listing provide all kinds of information about starting and managing an entrepreneurial venture. The second section includes five additional Entrepreneurship in Action cases that you can read for your own enjoyment or that your professor may assign you to read and analyze.

As you can see by the descriptions of all the unique features in Entrepreneurship in Action, I've tried to provide you as close an experience to what it's like to be an entrepreneur in action, other than actually being one. I truly hope that the excitement and exhilaration of being an entrepreneur comes through and motivates you to pursue the fun, but demanding, journey of becoming one.

Supplements

  • Instructor's Manual with Test Item File and Video Guide
    The Instructor's Manual contains Learning Objectives, Expanded Chapter Outlines with teaching tips and highlighted text features, and teaching notes to end-of-chapter material for each chapter in the text. Each Test Item File chapter contains true/false, multiple choice, . chapter essay, and case essay questions. Also included is a Video Guide that includes summaries and teaching notes for the chapterending Business Now video cases.
  • Companion Web Site
    The Prentice Hall Companion Web site features an interactive online student study guide with multiple choice, true/false, and Internet-based essay questions that accompany each chapter in the text. Professors will also find downloadable versions of the Instructor's Manual, Test Item File, Video Guide, and PowerPoints.
  • Business Now Videos
    Brand new to this edition, Prentice Hall is pleased to offer exciting new BusinessNOW video cases. BusinessNOW is a fast-paced television news magazine that takes viewers on location and behind closed doors to look at America's most interesting companies and the corporate executives who run them. These videos offer interesting, up-to-date content pertaining to the topics raised in Entrepreneurship in Action, 2e, and were chosen specifically for their tie-ins to topics related to entrepreneurship.
  • Instructor's Resource CD-ROM
    Included on one CD-ROM, professors will find the Instructor's Manual, Test Item File, Video Guide, and PowerPoint presentation.
Read More Show Less

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