Small Business Management: Launching and Growing Entrepreneurial Ventures, 16th Edition

  • Justin G. Longenecker Baylor University
  • J. William Petty Baylor University
  • Leslie E. Palich Baylor University
  • Frank Hoy Worcester Polytechnic Institute
  • ISBN-10: 1111532877  |  ISBN-13: 9781111532871
  • 848 Pages
  • Previous Editions: 2012, 2011, 2008
  • © 2012 | Published
  • List Price = $ 297.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com
  • Newer Edition Available
 

About

Overview

Help your students realize their dreams of small business success with this market-leading book. SMALL BUSINESS MANAGEMENT: LAUNCHING AND GROWING ENTREPRENEURIAL VENTURES, 16E 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.


Additional Product Information

Features/Benefits

  • ALTERNATE VERSIONS AVAILABLE TO MATCH WHAT YOU NEED TO COVER: There are three additional versions of SMALL BUSINESS MANAGEMENT available to match what you cover more closely. One version focuses on the pure entrepreneurship aspect of starting up a small business, another focuses on managing and growing a new business venture, and a third version is the full text with additional content covering the recent global economic crisis. Descriptions are listed below, please contact your sales rep for pricing and ordering details!
  • ENTREPRENEURSHIP: STARTING UP A SMALL BUSINESS 16E: This version is a split of the main text focused on starting a small business, and consists of chapters 1-13, 22, & 23 from the main text.
  • MANAGING & GROWING A NEW BUSINESS VENTURE 16E: This version is a split of the main text focused on managing & growing new business ventures and consists of chapters 1-5, & 14-23 from the main text.
  • SMALL BUSINESS MANAGEMENT 16E GLOBALECON WATCH EDITION: This version of the text is a paperback edition with extra content on the recent global economic crisis bound in. This additional content explores the historical factors building toward the current economic crisis as well as the impact on Small Business. It also contains a web access code to the robust Global Economics Watch website updated four times each day for premium current events coverage.
  • 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. Because knowing how to use and apply financial information is so critical for small business success, this edition's financial chapters provide careful attention to finance matters. What was previously one chapter on financial statements has been split into two chapters. The new material should help create a level playing field for the "non-accounting" student.
  • SMALL BUSINESS AND ENTREPRENEURSHIP RESOURCE CENTER (SBERC) EXERCISES HIGHLIGHT BREAKING RESEARCH AND ENTREPRENEURIAL CONCEPTS: Dynamic SBERC 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, such as Dyson, Bear Naked Granola, Blue Nile, and iSoldIt!, LLC.
  • 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.
  • INTEGRATED LEARNING SYSTEM COORDINATES TEXT AND SUPPLEMENTS FOR WINNING APPROACH: Beginning with the "Looking Ahead" 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 "Looking Back" summaries.
  • WEALTH OF ONLINE RESOURCES IN COURSEMATE TO ASSIST STUDENTS: Provide your students with a robust array of learning tools to enrich their course experience. Students gain immediate access to the "StartUp Stories" videos, useful business plan templates, exercises to accompany the optional Small Business and Entrepreneurship Resource Center, as well as helpful interactive quizzes and e-lectures. The Engagement Tracker tool, when used, provides you with the ability to identify at-risk students while it's still early enough to help, and also allows you to see what resources your student find most valuable.

Table of Contents

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.

What's New

  • COMPLETELY NEW START-UP STORIES VIDEOS offer inside views into today's innovative small businesses in action: All of the videos are new and provide students with engaging, insider looks into creative ideas at work in a variety of interesting and innovative small businesses. Some of the videos cover Five Guys Burgers and Fries, Two Men and a Truck, Kind Snacks, B2B CFO, among others. Available on DVD & online inside CourseMate, these lively segments bring a real-world perspective to your classroom with fascinating illustrations of entrepreneurship in action.
  • 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:More on social media.More on small business opportunities.More on Internet businesses.More examples of problems running a businessCondensed coverage of ethics material.Discussion of the effects of the recent recession on small businesses.
  • NEW feature: Start↑ (StartUp) features throughout provide direction/guidance on entrepreneurial Skills, Tools, Actions, Resources, and Transforming (going to the next level).
  • NEW 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 companies such as W. S. Darley and Co., CitiStorage, Firewire Surfboards, and other thriving organizations. Students apply concepts they learn in each chapter to these realistic entrepreneurial situations.
  • NEW COURSEMATE (WITH eBOOK) PREMIUM WEBSITE, INCLUDING A ROBUST SET OF RESEARCH & STUDY TOOLS: Provide your students with a robust array of learning tools to enrich their course experience. Students gain immediate access to the "StartUp Stories" videos, useful business plan templates, exercises to accompany the optional Small Business and Entrepreneurship Resource Center, as well as helpful interactive quizzes and e-lectures. The Engagement Tracker tool, when used, provides you with the ability to identify at-risk students while it's still early enough to help, and also allows you to see what resources your student find most valuable.

Learning Resource Bundles

Learning Resource Bundles

Convenient, cost-effective bundles provide additional resources to boost student engagement. Contact your Learning Consultant for more information.


Bundle: Text + Cengage Learning Write Experience 2.0 Powered by My Access with eBook Printed Access Card
ISBN-10: 113326266X  | ISBN-13: 9781133262664
List Price = $311.95


Printed Text + Cengage Learning Write Experience 2.0 Instant Access Code Powered by My Access
ISBN-10:  1133262678  | ISBN-13:  9781133262671
List Price = $311.95  | CengageBrain Price = $311.95


Bundle: Text + Management CourseMate with eBook Printed Access Card
ISBN-10:  1133430333  | ISBN-13:  9781133430339
List Price = $311.95


Printed Text + Management CourseMate with eBook and Live Plan Instant Access Code
ISBN-10:  1285039483  | ISBN-13:  9781285039480
List Price = $318.95  | CengageBrain Price = $318.95


Bundle: Small Business Management: Launching and Growing Entrepreneurial Ventures, 16th + Global Economic Watch GEC Resource Center Printed Access Card
ISBN-10:  1285155769  | ISBN-13:  9781285155760
List Price = $297.95  | CengageBrain Price = $297.95


Bundle: Text + Management CourseMate with eBook and LivePlan Printed Access Card
ISBN-10:  1285039491  | ISBN-13:  9781285039497
List Price = $318.95


Printed Text + Blackboard MindLink for CourseMate Instant Access
ISBN-10:  1285720067  | ISBN-13:  9781285720067
List Price = $311.95  | CengageBrain Price = $311.95


Printed Text + CourseMate with LivePlan Printed Access Card + General MindLink for CourseMate Instant Access
ISBN-10:  113354505X  | ISBN-13:  9781133545057
List Price = $338.95  | CengageBrain Price = $338.95


ePack: Printed Text + WebTutor™ on Blackboard® Instant Access
ISBN-10:  1305593170 | ISBN-13:  9781305593176
List Price = $311.95  | CengageBrain Price = $311.95


Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor's Resource CD-ROM  (ISBN-10: 1111578052 | ISBN-13: 9781111578053)

This easy-to-use CD gives you immediate desktop access to all of the text's time-saving instructor ancillaries. You are easily able to electronically review, edit, or copy any of the resources you need. The CD includes the Instructor's Manual, Test Bank in Microsoft Word and ExamView, PowerPoint slides, and business plan templates. The revised Test Bank provides a variety of true/false, multiple-choice, and discussion questions, grouped by learning objectives. A correlation table at the beginning of each Test Bank chapter helps you efficiently select questions that cover all objectives or the specific objectives most important to your course needs. The Instructor's Manual includes Lecture Notes grouped by learning objective and coordinated to PowerPoint slides. The Instructor's Manual also includes useful sources for audio/video and other instructional materials, answers to the "Discussion Questions," comments on "You Make the Call" situations, and teaching notes for the cases. The PowerPoint slides include a complete set of teaching notes and images for lectures as well as a brief student version, with audio, to assist in study and class preparation.


DVD  (ISBN-10: 1133188494 | ISBN-13: 9781133188490)

Completely new and engaging videos let you and your students see big ideas at work in a variety of innovative small businesses. Some of the videos cover Five Guys Burgers and Fries, Two Men and a Truck, Kind Snacks, Big Belly Solar, among many others. Available on DVD, these lively segments bring a real-world perspective to your classroom with fascinating illustrations of entrepreneurship in action. . These videos will bring the real world to you and let you learn, first-hand, from business experts. Videos are available online through CengageBrain.


Management CourseMate with eBook Instant Access Code  (ISBN-10: 1111578338 | ISBN-13: 9781111578336)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $163.00  | CengageBrain Price = $163.00  | College Bookstore Wholesale Price = $163.00


WebTutor™ on WebCT™, 1 term (6 months) Instant Access  (ISBN-10: 1111863741 | ISBN-13: 9781111863746)

This dynamic technology tool helps you improve your grades with WebTutor online interactive reinforcement of key concepts. WebTutor's online learning resources bring together review and test preparation tools with quizzes, tutorials and other review tools.

List Price = $41.00  | CengageBrain Price = $41.00  | College Bookstore Wholesale Price = $41.00


WebTutor™ on Blackboard®, 1 term (6 months) Instant Access  (ISBN-10: 1111863768 | ISBN-13: 9781111863760)

This dynamic technology tool helps you improve your grades with WebTutor online interactive reinforcement of key concepts. WebTutor's online learning resources bring together review and test preparation tools with quizzes, tutorials and other review tools.

List Price = $41.00  | CengageBrain Price = $41.00  | College Bookstore Wholesale Price = $41.00


Cengage Learning Write Experience 2.0 Instant Access Code Powered by My Access  (ISBN-10: 1111864152 | ISBN-13: 9781111864156)

Cengage Learning's Write Experience Is a new technology that is the first in higher education to offer students the opportunity to improve their writing and analytical skills without adding to your workload. Offered through an exclusive agreement with Vantage Learning, creator of the software used for GMAT essay grading, Write Experience evaluates students' answers to a select set of assignments for writing for voice, style, format, and originality. For more information about this unique course solution, contact your local sales representative or visit www.cengage.com/writeexperience. Better Writing. Better Outcomes. Write Experience.

List Price = $93.00  | CengageBrain Price = $93.00  | College Bookstore Wholesale Price = $93.00


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Management CourseMate with eBook Instant Access Code  (ISBN-10: 1111578338 | ISBN-13: 9781111578336)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $163.00  | CengageBrain Price = $163.00  | College Bookstore Wholesale Price = $163.00


CourseMate with LivePlan, Online Interactive Business Plan Instant Access  (ISBN-10: 1133597734 | ISBN-13: 9781133597735)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with SMALL BUSINESS MANAGEMENT: LAUNCHING AND GROWING ENTREPRENEURIAL VENTURES, 16th Edition.

List Price = $125.50  | CengageBrain Price = $125.50  | College Bookstore Wholesale Price = $125.50


WebTutor™ on WebCT™, 1 term (6 months) Instant Access  (ISBN-10: 1111863741 | ISBN-13: 9781111863746)

This dynamic technology tool helps you improve your grades with WebTutor online interactive reinforcement of key concepts. WebTutor's online learning resources bring together review and test preparation tools with quizzes, tutorials and other review tools.

List Price = $41.00  | CengageBrain Price = $41.00  | College Bookstore Wholesale Price = $41.00


WebTutor™ on Blackboard®, 1 term (6 months) Instant Access  (ISBN-10: 1111863768 | ISBN-13: 9781111863760)

This dynamic technology tool helps you improve your grades with WebTutor online interactive reinforcement of key concepts. WebTutor's online learning resources bring together review and test preparation tools with quizzes, tutorials and other review tools.

List Price = $41.00  | CengageBrain Price = $41.00  | College Bookstore Wholesale Price = $41.00


Blackboard MindLink for CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 128536970X | ISBN-13: 9781285369709)

The more you study, the better the results. Make the most of your study time by accessing everything you need to succeed in your business management course in one place. Read your eBook, take notes, review flashcards, view videos, and take practice quizzes—all online with MindLink for CourseMate on Blackboard.

List Price = $163.00  | CengageBrain Price = $163.00  | College Bookstore Wholesale Price = $163.00


General MindLink for CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1285762312 | ISBN-13: 9781285762319)

The more you study, the better the results. Make the most of your study time by accessing everything you need to succeed in your management course in one place. Read your eBook, take notes, review flashcards, and take practice quizzes—all online with MindLink for CourseMate.

List Price = $173.00  | CengageBrain Price = $173.00  | College Bookstore Wholesale Price = $173.00


General MindLink for CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1285368843 | ISBN-13: 9781285368849)

The more you study, the better the results. Make the most of your study time by accessing everything you need to succeed in your management course in one place. Read your eBook, take notes, review flashcards, view videos, and take practice quizzes—all online with MindLink for CourseMate.

List Price = $163.00  | CengageBrain Price = $163.00  | College Bookstore Wholesale Price = $163.00


Flash Cards, 1 term (6 months) Instant Access  (ISBN-10: 1285795857 | ISBN-13: 9781285795850)

Flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Interactive flashcards include terms and definitions for each chapter. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $4.00  | CengageBrain Price = $4.00  | College Bookstore Wholesale Price = $4.00


Cengage Learning Write Experience 2.0 Instant Access Code Powered by My Access  (ISBN-10: 1111864152 | ISBN-13: 9781111864156)

Cengage Learning's Write Experience Is a new technology that is the first in higher education to offer students the opportunity to improve their writing and analytical skills without adding to your workload. Offered through an exclusive agreement with Vantage Learning, creator of the software used for GMAT essay grading, Write Experience evaluates students' answers to a select set of assignments for writing for voice, style, format, and originality. For more information about this unique course solution, contact your local sales representative or visit www.cengage.com/writeexperience. Better Writing. Better Outcomes. Write Experience.

List Price = $93.00  | CengageBrain Price = $93.00  | College Bookstore Wholesale Price = $93.00


Quizzing Instant Access  (ISBN-10: 128579205X | ISBN-13: 9781285792057)

Interactive practice quizzes designed to work with your text can help you to review and learn essential terms and key concepts. True/false and multiple choice questions are included for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, flash cards are already included.

List Price = $5.00  | CengageBrain Price = $5.00  | College Bookstore Wholesale Price = $5.00


Quizzing with Flash Cards Instant Access  (ISBN-10: 1285788257 | ISBN-13: 9781285788258)

Interactive practice quizzes and flashcards designed to work with your text can help you to review and learn essential terms and key concepts. Flashcards contain terms and definitions for each chapter. Practice quizzes consist of true/false and multiple choice questions for each chapter. Check your score and take quizzes again if needed. A reference for where to find more material in the text is included with each answer. This is instant access product; at the completion of your purchase, simply go to "My Home" and gain immediate access to your product. Note: If you have purchased CourseMate for your title, practice quizzes and flashcards are already included.

List Price = $6.00  | CengageBrain Price = $6.00  | College Bookstore Wholesale Price = $6.00


Meet the Author

About the Author

Justin G. Longenecker

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

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 PhD and an MBA from the University of Texas at Austin and a BS 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-sized enterprises in Australia. Finally, he serves as the audit chair for a publicly traded energy firm.

Leslie E. Palich

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 PhD and an MBA from Arizona State University and a BA 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.

Frank Hoy

Frank Hoy is the Paul R. Beswick Professor of Innovation and Entrepreneurship in the School of Business at Worcester Polytechnic Institute. He was most recently director of the Centers for Entrepreneurial Development, Advancement, Research and Support at the University of Texas at El Paso (UTEP), and serves as director of the Collaborative for Entrepreneurship & Innovation (CEI), WPI's nationally ranked entrepreneurship center. Hoy joined the WPI faculty in August 2009, and holds a BA 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 ten years, where he founded and directed the Center for Business and Economic Studies, coordinated the entrepreneurship curriculum, and served as 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 and 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.