Help your students realize their dreams of small business success with this market-leading book. SMALL BUSINESS MANAGEMENT: LAUNCHING AND GROWING ENTREPRENEURIAL VENTURES, 15E provides the practical concepts, entrepreneurial insights, and comprehensive resources essential for students' success now and throughout your management future. This edition's solid coverage of the fundamentals of business management teaches not only how to start a business, but also how to manage, grow, and harvest a business. This market leading text places students in the role of decision maker to sharpen their understanding. The book's thorough emphasis on building business plans ensures students can effectively create, manage, and analyze a plan for their own ventures. Unforgettable examples, exciting video cases, and coverage of the most current developments in business management today keep this engaging text and integrated learning system as current and practical now as it was when it led the market in its first edition 50 years ago. This edition's SMALL BUSINESS MANAGEMENT ONLINE student Web site and Small Business and Entrepreneurship Resource Center help provide the valuable understanding students will rely upon throughout their entire business careers.
Justin G. Longenecker established SMALL BUSINESS MANAGEMENT as a leader in the market from the first edition of the book 50 years ago. In addition to this market-leading text, he wrote a number of other business books and numerous articles in journals such as Journal of Small Business Management, Academy of Management Review, Business Horizons, and Journal of Business Ethics. He was active in several professional organizations and served as president of the International Council for Small Business. Dr. Longenecker grew up in a family business. After attending Central Christian College of Kansas for two years, he earned his B.A. in political science from Seattle Pacific University, his M.B.A. from Ohio State University, and his Ph.D. from the University of Washington. He taught at Baylor University, where he was Emeritus Chavanne Professor of Christian Ethics in Business until his death in 2005.
J. William Petty is professor of finance and the W.W. Caruth Chairholder in Entrepreneurship at Baylor University, and also the executive director of the Baylor Angel Network. He holds a Ph.D. and an M.B.A. from the University of Texas at Austin and a B.S. from Abilene Christian University. He has taught at Virginia Tech University and Texas Tech University, and has served as the dean of the business school at Abilene Christian University. His research interests include acquisitions of privately held companies, shareholder value-based management, the financing of small and entrepreneurial firms, angel financing, and exit strategies for privately held firms. He has served as co-editor for the Journal of Financial Research and editor of the Journal of Entrepreneurial and Small Business Finance. He has published articles in a number of finance journals and is the co-author of two leading corporate finance textbooks—Basic Financial Management and Foundations of Finance. Dr. Petty has worked as a consultant for oil and gas firms and consumer product companies. He also served as a subject matter expert on a best-practices study on shareholder value-based management, funded by the American Productivity and Quality Center, and he was part of a research team for the Australian Department of Industry to study the feasibility of establishing a public equity market for small- and medium-size enterprises in Australia. Finally, he serves as the audit chair for a publicly-traded energy firm.
Leslie E. Palich is an associate professor of management and entrepreneurship and the Ben H. Williams Professor of Entrepreneurship at Baylor University, where he teaches courses in small business management, international entrepreneurship, strategic management, and international management to undergraduate and graduate students in the Hankamer School of Business. He is also associate director of the Entrepreneurship Studies program at Baylor. He holds a Ph.D. and an M.B.A. from Arizona State University and a B.A. from Manhattan Christian College. His research has been published in the Academy of Management Review, Strategic Management Journal, Journal of Business Venturing, Journal of International Business Studies, Journal of Management, Journal of Organizational Behavior, Journal of Small Business Management, and several other periodicals. He has taught entrepreneurship and strategic management in a number of overseas settings, including Cuba, France, the Netherlands, the United Kingdom, and the Dominican Republic. His interest in entrepreneurial opportunity and small business management dates back to his grade-school years, when he set up a produce sales business to experiment with small business ownership. That early experience became a springboard for a number of other enterprises. Since that time, he has owned and operated domestic ventures in agribusiness, automobile sales, real estate development, and educational services, as well as an international import business.
Carlos W. Moore was the Edwin W. Streetman Professor of Marketing at Baylor University, where he was an instructor for more than 35 years. He was honoured as a Distinguished Professor by the Hankamer School of Business, where he taught both graduate and undergraduate courses in marketing research and consumer behaviour. Dr. Moore authored articles in such journals as Journal of Small Business Management, Journal of Business Ethics, Organizational Dynamics, Accounting Horizons, and Journal of Accountancy. His authorship of this textbook began with its sixth U.S. edition. Dr. Moore received an associate arts degree from Navarro Junior College in Corsicana, Texas, where he was later named Ex-Student of the Year. He earned a B.B.A. degree from the University of Texas at Austin with a major in accounting, an M.B.A. from Baylor University, and a Ph.D. from Texas A&M University. Besides fulfilling his academic commitments, Dr. Moore served as co-owner of a small ranch and a partner in a small-business consulting firm until his death in 2007.
PART I: ENTREPRENEURSHIP: A WORLD OF OPPORTUNITY. 1. The Entrepreneurial Life. 2. Entrepreneurial Integrity and Ethics. PART II: STARTING FROM SCRATCH OR JOINING AN EXISTING BUSINESS. 3. Getting Started. 4. Franchising and Buyouts. 5. The Family Business. PART III: DEVELOPING THE NEW VENTURE BUSINESS PLAN. 6. The Business Plan: Visualizing the Dream. 7. The Marketing Plan. 8. The Human Resources Plan: Managers, Owners, Allies, and Directors. 9. The Location Plan. 10. Understanding a Firm's Financial Statements. 11. Forecasting Financial Requirements. 12. A Firm's Sources of Financing. 13. Planning for the Harvest. PART IV: FOCUSING ON THE CUSTOMER: MARKETING GROWTH STRATEGIES. 14. Building Customer Relationships. 15. Product and Supply Chain Management. 16. Pricing and Credit Decisions. 17. Promotional Planning. 18. Global Opportunities for Small Business. PART V: MANAGING GROWTH IN THE SMALL BUSINESS. 19. Professional Management in the Entrepreneurial Firm. 20. Managing Human Resources. 21. Managing Operations. 22. Managing the Firm's Assets. 23. Managing Risk in the Small Business. CASES. 1. Nau. 2. Joseph's Lite Cookies. 3. Firewire Surfboards. 4. Mo's Chowder. 5. W.S. Darley & Co. 6. Benjapon's. 7. eHarmony. 8. D'Artagnan. 9. Le Travel Store. 10A. Understanding Financial Statements, Part 1. 10B. Understanding Financial Statements, Part 2. 11. Missouri Solvents. 12. My Own Money. 13. CitiStorage. 14. Rodgers Chevrolet. 15. Country Supply. 16. Nicole Miller Inc. 17. Glidden Point Oyster Company, A.G.A., Correa & Son, Hardy Boat Cruises, and Maine Gold. 18. Smarter.com. 19. Diamond Wipes International, Inc. 20. Salary Envy. 21. Modern Postcard. 22. Pearson Air Conditioning & Service. 23. Protecting Intellectual Property. APPENDIX A: Sample Business Plan. APPENDIX B: Valuing a Business.