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Small Business Management 17th Edition

Justin G. Longenecker, J. William Petty, Leslie E. Palich, Frank Hoy

  • Published
  • Previous Editions 2012, 2010, 2008
  • 736 Pages
Starting At 110.00 See pricing and ISBN options


Help your students realize their dreams of small business success with Longenecker's market-leading text SMALL BUSINESS MANAGEMENT: LAUNCHING AND GROWING ENTREPRENEURIAL VENTURES, 17E. This popular text continues to lead with its comprehensive approach, precedent-setting coverage, innovative tools, engaging examples, and integrated resource package. SMALL BUSINESS MANAGEMENT, 17E delves into the fundamentals of business management with an emphasis on how to start a business as well as how to manage, grow, and harvest one--the full business cycle. The book's thorough emphasis on building the business plan offers a full complement of chapters plus a full business plan that gives you flexibility in assignment options. All-new cases, proven exercises, and online activities place students in the role of decision makers to sharpen their understanding of concepts. Unforgettable examples, exciting video cases, and coverage of the most current developments in business management today keep this engaging text as current and practical now as it was when it led the market in its first edition 50 years ago. Each edition builds upon past strengths with new innovations and breakthrough developments. SMALL BUSINESS MANAGEMENT, 17E provides the valuable resources your students will reference and rely upon throughout their entire business careers. Available with InfoTrac® Student Collections

Justin G. Longenecker, Baylor University

Justin G. Longenecker established SMALL BUSINESS MANAGEMENT as a leader in the market from the first edition of the book 52 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. Longenecker was active in several professional organizations and served as president of the International Council for Small Business. In 2005, the United States Association for Small Business and Entrepreneurship (USASBE) honored him with the Max S. Wortman Lifetime Achievement Award. In addition, the selection as a USASBE Justin G. Longenecker Fellow is the highest recognition that the Association gives to individuals who have made an outstanding contribution to the development, furtherance and benefit of small and medium businesses. Justin Longenecker truly was a legend in his own time and continues to have profound influence through the lives of those who knew him. 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, Baylor University

Bill Petty is Professor of Finance and the W.W. Caruth Chairholder in Entrepreneurship at Baylor University, and has been named a University Master Teacher. He also helped establish the Baylor Angel Network where he now serves on the Board. He holds a PhD and an MBA from the University of Texas at Austin and a BS from Abilene Christian University, where he is a member of the University's Board of Trustees. 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. Petty's 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 Finance. He has published articles in a number of finance and small business journals and is the co-author of a leading corporate finance textbook Foundations of Finance. 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-sized enterprises in Australia. He has served on the Board of Trustees for the Financial Management Association and currently serves on the Board of the United States Association of Small Business and Entrepreneurship (USASBE). Finally, he serves as the audit chair for a publicly traded energy firm.

Leslie E. Palich, Baylor University

Leslie E. Palich is Professor of Management and Entrepreneurship and the W.A. Mays Professor of Entrepreneurship at Baylor University, where he teaches courses in Small Business Management, International Entrepreneurship, Strategic Management, and International Business 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 PhD and an MBA from Arizona State University, and a BA from Manhattan Christian College. Palich's 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. Palich has taught entrepreneurship and strategic management in a number of countries in Europe and Latin America. His interest in entrepreneurial opportunity and small business management dates back to his grade-school years, when he set up a produce sale venture 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. Dr. Palich currently owns and operates Lead Generation X, an Internet marketing firm that employs cutting-edge promotional methods to serve its clients and their customers.

Frank Hoy, Worcester Polytechnic Institute

Frank Hoy is the Paul R. Beswick Professor of Innovation and Entrepreneurship in the School of Business at Worcester Polytechnic Institute, where he serves as director of the Collaborative for Entrepreneurship & Innovation. Previously, he was director of the Centers for Entrepreneurial Development, Advancement, Research and Support at the University of Texas at El Paso (UTEP). Professor Hoy joined the WPI faculty in August 2009. He holds a BBA from the University of Texas at El Paso, an MBA from the University of North Texas, and a PhD in management from Texas A&M University. He was a faculty member in the Department of Management at the University of Georgia for 10 years, where he founded and directed the Center for Business and Economic Studies, coordinated the entrepreneurship curriculum, and served as state director of the Georgia Small Business Development Center. In 1991, he returned to Texas to join UTEP as a professor of management and entrepreneurship and dean of the College of Business Administration. Hoy is a past president of the United States Association for Small Business and Entrepreneurship, which honored him in 2014 with the Max S. Wortman Lifetime Achievement Award. He is a past chair of the Entrepreneurship Division of the Academy of Management. His research has appeared in the Academy of Management Journal, Academy of Management Review, Journal of Business Venturing, and Family Business Review, and he is a past editor of Entrepreneurship Theory and Practice.
  • NEW, EXPANDED CONTENT ADDRESSES TIMELY GLOBAL ISSUES, BREAKING TECHNOLOGY, AND FAMILY BUSINESS: Now you can give your students a solid understanding of multi-level marketing, e-business, and legal and global issues affecting entrepreneurs in tough economic times. Content updates include: increased coverage of social media and social marketing; more information on Internet businesses; more examples of problems running a business; condensed coverage of ethics material; discussion of the effects of the ongoing recession on small businesses; more on building customer relationships; and updated coverage of promotional planning.
  • InfoTrac® Student Collections are specialized databases expertly drawn from the Gale Academic One library. Each InfoTrac® Student Collection enhances the student learning experience in the specific course area related to the product. These specialized databases allow access to hundreds of scholarly and popular publications - all reliable sources - including journals, encyclopedias, and academic reports. Learn more and access at:
  • Revised STARTUP features throughout provide direction/guidance on entrepreneurial Skills, Tools, Actions, Resources, and Transforming. For this edition, we've reduced them in length to make them more direct and useful.
  • NEW and REVISED CASES ALLOW STUDENTS TO EXPLORE TIMELY ENTRPRENUERIAL OPPORTUNITIES: Careful thought has gone into preparing new thought-provoking cases at the end of the text that highlight student friendly companies and organizations. Students apply concepts they learn in each chapter to these realistic entrepreneurial situations.
  • CLEARLY PRESENTED FINANCE CHAPTERS KEEP IMPORTANT FINANCIAL INFORMATION UNDERSTANDABLE AND PRACTICAL: Understanding and using financial information is frequently a challenge for both students and today's small business owners. The authors continue to hone in on these challenging chapters, fine tuning them based on student and reviewer feedback. The revised material should help create a level playing field for the "non-accounting" student.
  • SMALL BUSINESS AND ENTREPRENEURSHIP RESOURCE CENTER EXERCISES HIGHLIGHT BREAKING RESEARCH AND ENTREPRENEURIAL CONCEPTS: Dynamic Exercises at the end of each chapter and on the CourseMate Web site direct students to the Small Business and Entrepreneurship Resource Center with more than 900,000 business articles and company information on various exciting entrepreneurial ventures. Students examine how chapter topics apply to each situation as they examine intriguing companies.
  • FULL SECTION DEVOTED TO DEVELOPING A THOROUGH BUSINESS PLAN ENSURES SUCCESS: This book includes a full complement of chapters devoted to the essential tasks associated with developing a business plan. The authors ensure that students answer all of the tough questions in developing a business plan. Targeted questions within the chapters in Part 3 lead students through the process of building their own plans by ensuring that they focus on the pertinent, not the peripheral. An in-text sample business plan gives students a finished product to dissect and analyze. LivePlan Pro helps take students to the next level by completing their business plans online.
  • INTEGRATED LEARNING SYSTEM COORDINATES TEXT AND SUPPLEMENTS FOR WINNING APPROACH: Beginning with the learning objectives that open each chapter, this book organizes information into distinct, focused, and comprehensible segments. Numbered icons in the text margins indicate where coverage related to each objective appears. All relevant content related to learning objectives is recapped in end-of-chapter summaries.
  • WEALTH OF ONLINE RESOURCES TO ASSIST IN CASE ANALYSIS AND WRITING BUSINESS PLANS: Enrich your students' learning experience with the wealth of resources. Students gain instant access to the popular "StartUp Stories" videos, useful business plan templates, exercises to accompany the Small Business and Entrepreneurship Resource Center as well as helpful interactive quizzes and e-lectures. You will have the ability to track student progress and identify at-risk students while it's still early enough to help.
1. The Entrepreneurial Life.
2. Entrepreneurial Integrity and Ethics.
3. Getting Started.
4. Franchising and Buyouts.
5. The Family Business.
6. The Business Plan: Visualizing the Dream.
7. The Marketing Plan.
8. The Human Resource 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.
14. Building Customer Relationships.
15. Product and Supply Chain Management.
16. Pricing and Credit Decisions.
17. Promotional Planning.
18. Global Opportunities for 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.
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

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  • ISBN-10: 1285513967
  • ISBN-13: 9781285513966
  • Bookstore Wholesale Price $110.00
  • RETAIL $110.00

Digital Access + Print — Flexible Value

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  • ISBN-10: 1305513029
  • ISBN-13: 9781305513020
  • Bookstore Wholesale Price $280.50
  • RETAIL $373.95
CengageNOWv2 combines the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course in a digital world.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1285059034
  • ISBN-13: 9781285059037
  • Bookstore Wholesale Price $110.00
  • RETAIL $110.00

Textbook Only Options

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  • ISBN-10: 1305153847
  • ISBN-13: 9781305153844
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  • ISBN-10: 1133947751
  • ISBN-13: 9781133947752
  • Bookstore Wholesale Price $247.50
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"I really enjoyed reviewing the text. I like having input on how the text that I utilize is designed. So far, the students seem to like this text. They really enjoy the real-life examples. The examples give them hope that they can start a business too."

"3 Strongest chapters: Chapter 1. Good stories for getting the student's interest Chapter 5: The Family Business. This is a common business model and was very relevant to some of my students. Chapter 6: The Business Plan: Because of the plan's importance to the success of a business."

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.


Companion Website

ISBN: 9781305405912


ISBN: 9781305641334
The Start-Up Stories videos let you and your students see big ideas at work in a variety of innovative small businesses. Some of the videos cover Two Men and a Truck, Kind Snacks, and Hubspot. Use these along with a myriad of new videos to bring the real world into your classroom and let your students learn, first-hand, from business experts. Videos are available in a convenient DVD format as well as online.

Cengage Learning Testing, powered by Cognero® Instant Access

ISBN: 9781305405936
Cengage Learning Testing, powered by Cognero® is a flexible, online system that allows you to: import, edit, and manipulate content from the text's test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.