Nelson Higher Education

Higher Education

Small Business Management, 6th Edition

  • Justin Longenecker
  • Leo B. Donlevy
  • Terri Champion
  • J. William Petty
  • Leslie E. Palich
  • Frank Hoy
  • ISBN-10: 0176532218
  • ISBN-13: 9780176532215
  • 0 Pages | Paperback
  • Previous Editions: 2013, 2010, 2007
  • COPYRIGHT: 2016 Published
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Overview

About the Product

Help your students realize their dreams of small business success with Small Business Management: Launching and Growing New Ventures, Sixth Canadian Edition. This text incorporates current theory and practice relating to starting, managing, and growing small firms. With well-balanced coverage of critical small business issues, innovative tools, engaging examples, and integrated resource package, Small Business Management provides instructors with the necessary tools to support the varied goals of those seeking independent business careers. Students appreciate the text’s clear and concise writing style that makes business concepts understandable, and the real-world examples and hands-on activities that help them understand how to apply those concepts. The sixth Canadian edition is available with MindTap, a powerful online platform that provides a clear learning path that gets students thinking like entrepreneurs.

Features

  • Integrated learning system uses each chapter’s learning objectives to give structure and coherence to the text content, study aids, and instructor’s ancillaries, all of which are keyed to these objectives.

  • In the Spotlight feature profiles an amazing collection of small business owners whose unique insights into how to start, run, and grow a business will help readers identify and explore the full range of issues facing today’s business owners.

  • The Entrepreneurial Experiences feature offers practical examples from the world of small business and entrepreneurship.

  • Building a Business Plan – The textbook material is integral to learning to develop workable venture business plans. The sample business plan in Appendix A as well as the checklist and other sample plans available online give students the tools they need to build their own business plan. For even more resources on building business plans a LivePlan subscription can be bundled with the text.

  • You Make the Call situations, featured at the end of each chapter, are very popular with both students and instructors because they present realistic business situations that require examining key operating decisions.

About the Author

Justin 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 BA in political science from Seattle Pacific University, his MBA from Ohio State University, and his PhD 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.

Leo B. Donlevy

Leo Donlevy is a senior instructor in Marketing and Entrepreneurship, with particular responsibility for the applied strategy project component of the MBA and Executive MBA programs. Mr. Donlevy attained an MBA degree in 1995 following a career in the commercial printing industry as an owner and manager. He has been involved with several other ventures during his career. He has served on several local and national company, trade association, and nonprofit boards of directors, including a three-year term as president of the Printing & Graphics Association of Alberta and a four-year term as president of the Calgary & District Soccer Referees’ Association. Mr. Donlevy’s other teaching responsibilities include co-coaching the team of MBAs who compete every January at the John Molson School of Business International MBA Case Competition, where University of Calgary teams have outperformed every other team over the last 12 years. Mr. Donlevy holds a private pilot’s licence and is a provincial-level Soccer Referee Instructor and Assessor. He counts reading, golf, and wine making among his hobbies. He is a native Calgarian, married, and father of four.

Terri Champion

Terri Champion is a Professor of Marketing and Management in the School of Business at Niagara College where she teaches courses in Entrepreneurship, Marketing, Consumer Behaviour, and Strategic Management. She is the coordinator of the Sales and Marketing Program at Niagara College and a researcher and industry liaison for Niagara Research, specializing in applied research, innovation, and commercialization initiatives to improve the productivity and competitiveness of local SMEs. In addition, Professor Champion also coaches marketing students competing in provincial, national, and international business competitions. She holds an Honours Degree in Business Administration—Marketing and a Bachelor of Education Degree with a Business specialty from Brock University. Her teaching and research interests lie in marketing management, entrepreneurship, retailing, and consumer behaviour. Professor Champion’s professional background includes positions in sales and marketing, small business consulting, new venture development training, and consumer research. She is a member of the Canadian Professional Sales Association, the Retail Council of Canada, and the Ontario Colleges’ Marketing Competition committee.

J. William Petty

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 Ph.D. and an M.B.A. from the University of Texas at Austin and a B.S. 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. Dr. 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 numerous finance and small business journals and is the co-author of a leading corporate finance textbook, 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. 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). In addition, he serves as the audit chair for a publicly traded energy firm.

Leslie E. Palich

Leslie E. Palich is 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 holds a Ph.D. and an M.B.A. from Arizona State University and a B.A. from Manhattan Christian College. Dr. 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. Having directed international education programs for more than two decades, Dr. 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 youth, when he set up an agricultural sales 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 also launched Lead Generation X, an Internet marketing firm set up to employ cutting-edge promotional methods to serve clients and their customers.

Frank Hoy

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.

Table of Contents

Preface
Part One: Entrepreneurial Opportunity
Chapter 1: Entrepreneurs
Chapter 2: Start-Up and the Need for Competitive Advantage
Chapter 3: Family Enterprise
Chapter 4: Franchising and Buyouts
Part Two: Planning and Marketing New Ventures
Chapter 5: Developing an Effective Business Plan
Chapter 6: Small Business Marketing, Product, and Pricing Strategies
Chapter 7: Distribution and Promotional Strategies
Chapter 8: Global Marketing
Part Three: Managing New Venture Operations
Chapter 9: The New Venture Team, Small Firm Management, and Managing Human Resources
Chapter 10: Form of Organization and Legal Issues
Chapter 11: Selecting a Location and Planning the Facilities
Chapter 12: Operations Management and Control Systems
Chapter 13: Understanding Financial Statements and Forecasting
Chapter 14: Sources of Financing
Chapter 15: Managing Growing Firms and Exit Strategies
Cases
Appendix A: Sample Business Plan: Magma Thermal Barriers
Endnotes
Glossary
Index

New to this edition

  • Chapter 6, Small Business Marketing, Product, and Pricing Strategies, and Chapter 7, Distribution and Promotional Strategies, have been thoroughly reorganized with pricing moved to Chapter 6 and distribution strategies moved to Chapter 7 to better align with the standard 4 Ps.
  • Chapter 11, Selecting a Location and Planning the Facilities, has updated coverage of e-commerce, including new coverage of content-based and information-based e-commerce models.
  • Chapter 12, Operations Management and Control Systems, has been revised to provide a stronger focus on the operations process and the tools and techniques of quality management, including new coverage of bottlenecks, constraints, poka-yoke, project manufacturing, and synchronous management.
  • Understanding and using financial information is often difficult for small business owners and students, so the two chapters dealing with financial performance and management, Chapter 13, Understanding Financial Statements and Forecasting, and Chapter 14, Sources of Financing, have been carefully and thoroughly revised to make the issues easier to understand. New trends, such as crowdsourcing, are also explored in Chapter 14.
  • Five new cases have been added to the case section at the end of the text, including Dillon’s Small Batch Distillers, Two Men and a Truck, and Numi Tea. These and other relevant cases provide opportunities for students to apply chapter concepts to entrepreneurial situations in a realistic and timely way. In addition to the cases appearing in the book, many others, old and new, are available online.

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

MindTap Instant Access (12 Months/Multi Term) for Longenecker's Small Business Management: Launching and Growing New Ventures  (ISBN-10: 0176701664 | ISBN-13: 9780176701666)

MindTap® provides you with the tools you need to manage your time better. You can complete assignments whenever and wherever with course material customized and streamlined for you by your instructor in a proven and easy-to-use interface. Relevant, engaging material keeps you connected to your course and course analytics by providing timely feedback showing you where you stand at all times—both individually and compared with the highest performers in class. With a wide array of course specific tools and apps – from an interactive eBook to note taking capabilities and flashcards, you can feel confident that MindTap is a worthwhile and valuable investment in your education. Please note - A Course Registration URL or Course Key is required from your Instructor to use MindTap.

Student Supplements

MindTap Instant Access (12 Months/Multi Term) for Longenecker's Small Business Management: Launching and Growing New Ventures  (ISBN-10: 0176701664 | ISBN-13: 9780176701666)

MindTap® provides you with the tools you need to manage your time better. You can complete assignments whenever and wherever with course material customized and streamlined for you by your instructor in a proven and easy-to-use interface. Relevant, engaging material keeps you connected to your course and course analytics by providing timely feedback showing you where you stand at all times—both individually and compared with the highest performers in class. With a wide array of course specific tools and apps – from an interactive eBook to note taking capabilities and flashcards, you can feel confident that MindTap is a worthwhile and valuable investment in your education. Please note - A Course Registration URL or Course Key is required from your Instructor to use MindTap.