Small Business Management 8th Edition Creating a Sustainable Competitive Advantage

Quản lý doanh nghiệp nhỏ
Tạo ra lợi thế cạnh tranh bền vững
Quản lý doanh nghiệp nhỏ, Phiên bản thứ tám trang bị cho sinh viên những công cụ để đưa ra các quyết định quan trọng về tài chính, pháp lý, tiếp thị và quản lý khi tạo và phát triển một doanh nghiệp nhỏ bền vững. Tác giả Timothy S. Hatten cung cấp những trường hợp mới, ví dụ thực tế và các đặc điểm làm sáng tỏ những đóng góp đa dạng, sáng tạo của các chủ doanh nghiệp nhỏ cho nền kinh tế. Cho dù sinh viên của bạn mơ ước khởi động một dự án kinh doanh mới, mua nhượng quyền thương mại, quản lý một doanh nghiệp theo phong cách sống hay gia nhập công ty gia đình, họ sẽ học được những phương pháp quan trọng nhất để cạnh tranh trong thế giới kinh doanh hiện đại. Tiêu đề này được kèm theo một gói dạy và học hoàn chỉnh. Liên hệ với đại diện Sage của bạn để yêu cầu bản demo. Nền tảng Học tập / Chương trình học Sage Vantage là một nền tảng học tập trực quan tích hợp nội dung sách giáo khoa Sage chất lượng với các hoạt động đa phương tiện có thể giao và các bài đánh giá được chấm điểm tự động để thúc đẩy sự tham gia của học sinh và đảm bảo trách nhiệm giải trình. Nổi bật về tính dễ sử dụng và được xây dựng để phục vụ việc dạy và học năng động, Vantage cung cấp khả năng tích hợp LMS có thể tùy chỉnh và hỗ trợ tốt nhất trong phân khúc. Đó là một nền tảng học tập mà bạn và học sinh của bạn sẽ thực sự yêu thích. Tìm hiểu thêm. Video có thể gán với đánh giá Video có thể gán (có sẵn trong Sage Vantage) gắn liền với mục tiêu học tập và được tuyển chọn dành riêng cho văn bản này để đưa các khái niệm vào cuộc sống. Xem video mẫu ngay bây giờ. Hộp mực LMS: Nhập tài nguyên người hướng dẫn của tiêu đề này vào hệ thống quản lý học tập (LMS) của trường bạn và tiết kiệm thời gian. Bạn không sử dụng LMS? Bạn vẫn có thể truy cập tất cả các tài nguyên trực tuyến tương tự cho tựa sách này thông qua Trang web Tài nguyên dành cho Giảng viên được bảo vệ bằng mật khẩu. Tìm hiểu thêm.

Preface
New to This Edition
Acknowledgments
About the Author
Part I The Challenge
Chapter 1 Small Business: An Overview
Concept Module 1.1: What Is Small Business?
Size Definitions
Types of Industries
Microbusinesses
Concept Module 1.2: Small Businesses in the U.S. Economy
Increased Business Start-Ups
Increasing Interest at Colleges and Universities
Concept Module 1.3: Workforce Diversity and Small Business Ownership
The Value of Diversity to Business
Concept Module 1.4: Secrets of Small Business Success
Competitive Advantage
Flexibility
Innovation
Close Relationship to Customers
Getting Started on the Right Foot
Market Size and Definition
Gathering Sufficient Capital
Finding and Keeping Effective Employees
Getting Accurate Information
Concept Module 1.5: Understanding the Risks of Small Business Ownership
What Is Business Failure?
Causes of Business Failure
Inadequate Management
No Website and No Social Media Presence
Inadequate Financing
Business Termination versus Failure
Mistakes Leading to Business Failure
Failure Rate Controversy
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 2 Small Business Management and Entrepreneurship
Concept Module 2.1: The Entrepreneur–Manager Relationship
What Is an Entrepreneur?
Entrepreneurship and the Small Business Manager
Concept Module 2.2: A Model of the Start-Up Process
Concept Module 2.3: Your Decision for Self-Employment
Pros and Cons of Self-Employment
Opportunity for Independence
Opportunity for a Better Lifestyle
Opportunity for Profit
Risks of Self-Employment
The Balance of Life in Small Business
Traits of Successful Entrepreneurs
Preparing Yourself for Business Ownership
Data Analytics for Small Business Decisions
Concept Module 2.4: Creativity and Innovation in Small Business
Product Innovation
Product Satisfaction
Developing New Products
Inventor’s Paradox
Importance of Product Competitive Advantage
Chapter Review
Key Terms
Experiential Learning Activity
Chapter Closing Case
Part II Planning in Small Business
Chapter 3 Social Entrepreneurs, Ethics, and Strategic Planning
Concept Module 3.1: Relationship Between Social Responsibility, Ethics, and Strategic Planning
Concept Module 3.2: Social Entrepreneurship
Social Responsibility
Economic Responsibility
Legal Obligations
Ethical Responsibility
Philanthropic Goodwill
Concept Module 3.3: Ethics and Business Strategy
Codes of Ethics
Ethics Under Pressure
Concept Module 3.4: Strategic Planning
Mission Statement
Environmental Analysis
External Analysis
Internal Analysis
Competitive Analysis
Competitive Areas of Comparison
Defining Your Competitive Advantage
Five Basic Forces of Competition
Importance of Competitive Advantage
Benefits of Competitive Advantage
How to Create Competitive Advantage
Strategic Alternatives
Goal Setting and Strategies
Control Systems
Strategic Planning in Action
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 4 The Business Plan
Concept Module 4.1: Every Business Needs a Plan
The Purpose
Proving Feasibility
Attracting Capital
Providing Direction
The Practice: Guidelines for Writing a Business Plan
Consider Your Audience
Keep It Brief
Point of View
Create a Professional Image
Where to Get Help
Concept Module 4.2: Business Models and Feasibility Analysis
Feasibility Analysis
Description of the Business Idea
Market Feasibility
Market Potential
Technical Feasibility
Raw Materials
Financial and Economic Feasibility
Estimate Equity and Credit Needs
Organizational/Managerial Feasibility
Business Founders
Next Step
Concept Module 4.3: Business Plan Contents
Cover Page
Table of Contents
Executive Summary
Company Information
Environmental and Industry Analysis
Products or Services
Marketing Research and Evaluation
Target Markets and Market Segmentation
Market Trends
Competition
Market Share
Marketing Plan
Pricing as Part of Marketing Plan
Promotion as Part of Marketing Plan
Place as Part of Marketing Plan
Service Policies as Part of Marketing Plan
Manufacturing and Operations Plan
Geographic Location
Facilities
Make-or-Buy Policy
Control Systems
Labor Force
Management Team
Timeline
Critical Risks and Assumptions
Benefits to the Community
Exit Strategy
Financial Plan
Sources and Uses of Funds
Cash Flow Statement
Balance Sheet
Profit-and-Loss Statement
Break-Even Analysis
Appendix
Concept Module 4.4: Review Process
Business Plan Mistakes
Concept Module 4.5: The Pitch
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Part III Early Decisions
Chapter 5 Franchising
Concept Module 5.1: About Franchising
Background
Franchising Today
Franchising Systems
Product-Distribution Franchising
Business-Format Franchising
Concept Module 5.2: Why Open a Franchise?
Advantages to Franchisee
Proven Product
Marketing Expertise
Financial Assistance
Professional Guidance
Opportunity to Learn
Recognized Standards
Efficiency
Potential for Business Growth
Disadvantages to Franchisee
Cost of Franchise
Restrictions on Freedom or Creativity
Overdependence or Unsatisfied Expectations
Risk of Fraud or Misunderstanding
Problems of Termination or Transfer
Poor Performance of Other Franchisees
Advantages to Franchisor
Expansion with Smaller Capital Investment
Multiple Sources of Revenue
Controlled Expansion
Motivated Franchisees
Bulk Purchasing
Disadvantages to Franchisor
Loss of Control
Profit Sharing
Franchisee Disputes
Concept Module 5.3: Selecting a Franchise
Evaluate Your Needs
Do Your Research
Other Information Sources
Questions to Ask
Analyze the Market
Disclosure Statements
The Franchise Agreement
Franchise, Royalty, and Advertising Fees
Termination of the Franchise Agreement
Terms and Renewal of Agreement
Exclusive Territory
Get Professional Advice
The Future of Franchising
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 6 Taking Over an Existing Business
Concept Module 6.1: Business-Buyout Alternative
Advantages of Buying a Business
Disadvantages of Buying a Business
Concept Module 6.2: How Do You Find a Business for Sale?
Concept Module 6.3: What Do You Look for in a Business?
Due Diligence
General Considerations
Why Is the Business Being Sold?
Financial Condition
Independent Audit
Profit Trend
Expense Ratios
Other Measures of Financial Health
Concept Module 6.4: What Are You Buying?
Tangible Assets
Inventory
Equipment
Intangible Assets
Goodwill
Accounts Receivable
Leases and Other Contracts
Patents, Copyrights, and Trademarks
Personnel
The Seller’s Personal Plans
Concept Module 6.5: How Much Should You Pay?
Small Business Valuation
Approaches to Small Business Valuation
What Are the Tangible Assets Worth?
What Are the Intangible Assets Worth?
Concept Module 6.6: Buying the Business
Terms of Sale
Closing the Deal
Concept Module 6.7: Taking Over a Family Business
What Is Different About Family Businesses?
Complex Interrelationships
Planning Succession
General Family Business Issues
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 7 Starting a New Business
Concept Module 7.1: About Start-Ups
Advantages of Starting From Scratch
Disadvantages of Starting From Scratch
Concept Module 7.2: Types of New Businesses
Online Businesses
Home-Based Businesses
Starting a Business as a Side Gig
Fast-Growth Start-Ups
Concept Module 7.3: Evaluating Potential Start-Ups
Business Ideas
Where Business Ideas Come From
Prior Work Experience
Hobbies and Avocations
Chance Happening (Serendipity)
Concept Module 7.4: Getting Started
What Do You Do First?
Importance of Planning to a Start-Up
How Will You Compete?
Customer Service
Licenses, Permits, and Regulations
Taxes
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Introduction
Part IV Financial and Legal Management
Chapter 8 Accounting Records and Financial Statements
Concept Module 8.1: Small Business Accounting
How Important Are Financial Records?
Accurate Information for Management
Banking and Tax Requirements
Concept Module 8.2: Small Business Accounting Basics
Double- and Single-Entry Systems
Accounting Equations
Cash and Accrual Methods of Accounting
What Accounting Records Do You Need?
Journals and Ledgers
Income Statement
Balance Sheet
Statement of Cash Flow
What If You Are Starting a New Business?
Using Financial Statements to Run Your Small Business
Daily
Weekly
Monthly
Concept Module 8.3: Analyzing Financial Statements
Ratio Analysis
Using Financial Ratios
Liquidity Ratios
Asset Utilization Ratios
Leverage Ratios
Profitability Ratios
Concept Module 8.4: Managing Cash Flow
Cash Flow Defined
Cash Flow Fundamentals
Cash Flow Management Tools
Strategies for Cash Flow Management
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 9 Small Business Finance
Concept Module 9.1: Funding for Small Business
Initial Capital Requirements
Defining Required Assets
What Lenders Look For
Additional Considerations
Concept Module 9.2: Basic Financial Vocabulary
Forms of Capital: Debt and Equity
Debt Financing
Advantages of Debt Financing
Disadvantages of Debt Financing
Equity Financing
Advantages of Equity Financing
Disadvantages of Equity Financing
Other Loan Terminology
Loan Security
Loan Restrictions
Concept Module 9.3: How Can You Find Capital?
Loan Application Process
Sources of Debt Financing
Commercial Banks
Fintech
Crowdfunding
Commercial Finance Companies
Insurance Companies
Federal Loan Programs
State and Local Government Lenders
Credit Card Start-Up Funding
Trade Credit
What If a Lender Says “No”?
Sources of Equity Financing
Bootstrapping via Personal Funds
Family and Friends
Partners
Venture Capital Firms
Small Business Investment Companies
Angels
Mergers and Acquisitions (M&A)
Stock Offerings
Private Placements
Public Offerings
Choosing a Lender or Investor
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 10 The Legal Environment
Concept Module 10.1: Small Business and the Law
Small Business and Federal Regulations
Licenses and Permits
Paying Overtime
Job-Protected Leave
Minimum Wage
Health Insurance
Workers’ Compensation
Workplace Safety
Paying Taxes
Employee Classification
Nondiscrimination Employment Reporting
Environmental Protection
Sales Tax
Antitrust Laws
Truth in Advertising
Licenses, Restrictions, and Permits
Zoning Laws
Choosing an Attorney
Concept Module 10.2: Bankruptcy Laws
Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Chapter 13 Bankruptcy
Concept Module 10.3: Contract Law for Small Businesses
Elements of a Contract
Legality
Agreement
Consideration
Capacity
Contractual Obligations
Concept Module 10.4: Laws to Protect Intellectual Property
Patents
What Can Be Patented?
Patent Search
Patent Application
Copyrights
Trademarks
Concept Module 10.5: Forms of Business Organization
Sole Proprietorship
Advantages
Disadvantages
Partnership
Advantages
Disadvantages
Limited Partnership
Uniform Partnership Act
Articles of Partnership
Corporation
Advantages
Disadvantages
Forming a Corporation
Specialized Forms of Corporations
S Corporation
Limited-Liability Company
B Corporation
Nonprofit Corporation
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Part V Marketing the Product or Service
Chapter 11 Small Business Marketing: Strategy and Research
Concept Module 11.1: Small Business Marketing
Marketing Concept
Of Purple Cows
Concept Module 11.2: Marketing Strategies for Small Businesses
Setting Marketing Objectives
Developing a Sales Forecast
Building Marketing Strategies
Identifying Target Markets
Generation Z Target Market
Understanding Consumer Behavior
Concept Module 11.3: Market Research
Market Research Process
Identify the Problem
Planning Market Research
Collecting Data
Data Analysis
Presenting Data and Making Decisions
Limitations of Market Research
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 12 Small Business Marketing: Location
Concept Module 12.1: Small Business Distribution
Concept Module 12.2: Location for the Long Run
State Selection
Concept Module 12.3: Site Selection
Site Questions
Traffic Flow
Concept Module 12.4: Location Types
Central Business Districts
Shopping Centers
Stand-Alone Locations
Service Locations
Incubators
Support Services
Professional Assistance
Networking
Financing
Specialized Incubators
Concept Module 12.5: Layout and Design
Legal Requirements
Retail Layouts
Service Layouts
Manufacturing Layouts
Process Layout
Product Layout
Fixed Layout
Home Office
Concept Module 12.6: Lease, Buy, or Build?
Leasing
Purchasing
Building
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Case
Chapter 13 Small Business Marketing: Price and Promotion
Concept Module 13.1: The Economics of Pricing
Competition
Customer Demand
Costs
Concept Module 13.2: Breakeven Analysis
Concept Module 13.3: Price-Setting Techniques
Customer-Oriented Pricing Strategies
Internal-Oriented Pricing Strategies
Cost-Plus Pricing
Concept Module 13.4: Getting Paid
Extending Credit to Your Customers
Collecting Overdue Accounts
Concept Module 13.5: Promotion
Advertising
Online
Newspaper
All Television—Including Cable, Syndicated, and Spot
Direct Mail
Radio
Magazine
Outdoor
Personal Selling
Public Relations
Sales Promotions
Customer Acquisition Cost
Promotional Mix
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Part VI Managing Small Business
Chapter 14 Professional Small Business Management
Bee Downtown
First Socks, Then What?
Concept Module 14.1: Managing Small Business
Four Functions of Management
What Managers Do
Concept Module 14.2: Small Business Growth
Your Growing Firm
Transition to Professional Management
The Next Step: An Exit Strategy
Concept Module 14.3: Leadership in Action
Leadership Attributes
Negotiation
Delegation
Motivating Employees
Employee Theft
Concept Module 14.4: Special Management Concerns: Time and Stress Management
Time Management
Stress Management
Preventive Stress Management
Take Care of Your Health
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 15 Human Resource Management
Concept Module 15.1: Hiring the Right Employees
Job Analysis
Job Description
Job Specifications
Concept Module 15.2: Employee Recruitment
Internet Job Sites
Advertising for Employees
Employment Agencies
Executive Recruiters (Headhunters)
Employee Referrals
Relatives and Friends
Other Sources
Concept Module 15.3: Selecting Employees
Application Forms and Resumes
Interviewing
Testing
Hiring Independent Contractors versus Employees
Concept Module 15.4: Placing and Training Employees
Employee Training and Development
Ways to Train
Concept Module 15.5: Compensating Employees
Determining Wage Rates
Incentive-Pay Programs
Benefits
Concept Module 15.6: When Problems Arise: Employee Discipline and Termination
Disciplinary Measures
Dismissing Employees
Chapter Review
Key Terms
Experiential Learning Activities
Human Resource Management—Dismissing Employees
Chapter Closing Case
Chapter 16 Operations Management
Concept Module 16.1: Elements of Operating Management
Inputs
Transformation Processes
Outputs
Control Systems
Feedback
Concept Module 16.2: Operations Management
Operations Management for Manufacturing Businesses
Operations Management for Service Businesses
What Is Productivity?
Ways to Measure Manufacturing Productivity
Ways to Measure Service Productivity
Concept Module 16.3: What About Scheduling Operations?
Scheduling Methods
Routing
Dispatching
Concept Module 16.4: Quality-Centered Management
Six Sigma in Small Business
How Do You Control Operations?
Concept Module 16.5: Purchasing for Small Business
Purchasing Guidelines
Purchasing Basics
Selecting Suppliers
Make-or-Buy Decision
Concept Module 16.6: Managing Inventory
How Much Inventory Do You Need?
Costs of Carrying Inventory
Controlling Inventory
Reorder Point and Quantity
Visual Control
Economic Order Quantity
ABC Classification
Chapter Review
Key Terms
Experiential Learning Activities
Chapter Closing Case
Chapter 17 Online: International Small Business
Concept Module 17.1: Preparing to Go International
Growth of Small Business
International Business Plan
Take the Global Test
Are There Risks When Exporting Internationally?
Summary LO 17.1: List factors to consider when preparing an international business plan.
Concept Module 17.2: Establishing Business in Another Country
Exporting
Exporting
Importing
International Licensing
Licensing
International Joint Ventures and Strategic Alliances
Joint Venture
Direct Investment
Summary LO 17.2: Name five ways for small businesses to conduct international trade.
Concept Check Questions
Concept Module 17.3: Small Business Exporting and Importing
Indirect Exporting
Direct Exporting
Identifying Potential Export Markets
Importing
Summary LO 17.3: Analyze factors for small businesses to consider when exporting and importing.
Concept Check Questions
Concept Module 17.4: Financial Mechanisms for Going International
International Finance
Managing International Accounts
Information Assistance
Summary LO 17.4: Explain how small businesses can manage their finances in international trade.
Concept Check Questions
Concept Module 17.5: The International Challenge
Understanding Other Cultures
International Trading Regions
ISO 9000
Summary LO 17.5: Articulate the cultural and economic challenges of international small business activity.
Concept Check Questions
Chapter Closing Case
Glossary
Endnotes
Index