Nelson Higher Education

Higher Education

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

  • Justin G. Longenecker
  • J. William Petty
  • Leslie E. Palich
  • Frank Hoy
  • ISBN-10: 1111532877
  • ISBN-13: 9781111532871
  • 848 Pages | Hardcover
  • Previous Editions: 2010, 2008, 2006
  • COPYRIGHT: 2012 Published
Request a Copy for Review

Overview

About the Product

Help your students realize their dreams of small business success with Longenecker's market-leading text SMALL BUSINESS MANAGEMENT: LAUNCHING AND GROWING ENTREPRENEURIAL VENTURES, 16e. This popular text continues to lead with its comprehensive approach, precedent-setting coverage, innovative tools, engaging examples, and integrated resource package. SMALL BUSINESS MANAGEMENT, 16E 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. This edition captures the excitement of small business with multimedia resources; from popular video cases and Small Business and Entrepreneurship Resource Center's robust collection of business-related articles and resources to SMALL BUSINESS MANAGEMENT ONLINE student learning tools. SMALL BUSINESS MANAGEMENT, 16E provides the valuable resources your students will reference and rely upon throughout their entire business careers.

Features

  • 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.

About the Author

Justin G. Longenecker

Justin G. Longenecker established SMALL BUSINESS MANAGEMENT as a leader in the market when he wrote the first edition of the book more than 50 years ago. In addition to this market-leading text, he authored a number of other meaningful 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. Dr. 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. Dr. Longenecker truly was a legend in his own time and continues to have profound influence through the lives of those who knew him. 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

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

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.

New to this edition

  • 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.

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

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 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 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. . Use these 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.

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

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.

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

Jumpstart your course with customizable, rich content that's specific to SMALL BUSINESS MANAGEMENT, 16E with this Course Management System. Easily blend, add, edit, reorganize, or delete content. Text-specific media assets, quizzing, weblinks, discussion topics, interactive games and exercises, and more supplement the classroom experience and ensure that students leave with the resources they need to succeed in today's business world. You even can use this effective resource as an integrated solution for distance learning or a Web-enhanced course.

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

Jumpstart your course with customizable, rich content that's specific to SMALL BUSINESS MANAGEMENT, 16E with this Course Management System. Easily blend, add, edit, reorganize, or delete content. Text-specific media assets, quizzing, weblinks, discussion topics, interactive games and exercises, and more supplement the classroom experience and ensure that students leave with the resources they need to succeed in today's business world. You even can use this effective resource as an integrated solution for distance learning or a Web-enhanced course.

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.

Student Supplements

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

Enrich your learning experience with the wealth of resources on this invaluable CourseMate student Web site. You'll 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. It's like having a personal tutor any hour of the day!

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.

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.

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.

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.

LMS Integrated 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.

LMS Integrated 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.

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.

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.

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.

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.