Small business management 14 edition

For your course and learning solutions, visit www. For many students, preparation for small business ownership begins with a course in small business management. My goal as a teacher and the purpose of this text is to help students fulfill their dreams of becoming entrepreneurs and achieving the independence that comes with small business success. The theme of this book revolves around creating and maintaining a sustainable competitive advantage in a small business.

At no other time has it been so important for businesses to hold a competitive advantage. Every chapter in this book can be used to create your competitive advantage—whether it be your idea, your product, your location, or your marketing plan.

Running a small business is like being in a race with no finish line. You must continually strive to satisfy the changing wants and needs of your customers. This book can help you run your best race. The writing style is personal and conversational. I have tried to avoid excessive use of jargon by explaining topics in simple, understandable language.

The book is written in the first person, present tense, because I, the author, am speaking directly to you, the student. I believe that a good example can help make even the most complex concept more understandable and interesting to read. To strengthen the flow of the material and reinforce important points, examples have been carefully selected from the business press and small business owners I have known. New to This Edition In preparing this fifth edition, I incorporated suggestions from teachers and students who used the previous edition.

In addition, an advisory board of educators from around the country helped me determine the best ways to meet the needs of students in this course. Topics critical to small business have been added or updated. For example, since the economic recession has lingered like an unwanted houseguest, multiple boxes and examples have been included on running a small business in times of economic downturn.

Speaking of highlight boxes, they are great for focusing attention, but we understand that there should not be too many of them, nor should they be too long. The best examples of small business practices have been presented in chapter-opening vignettes and feature boxes, then discussed further in the body of the text. Of the 68 highlight boxes, 57 are brand new, and the 11 others have been updated.

Of the 18 chapter openers, all 18 are brand new. Believe it or not, a rumor exists that some students actually skip reading these highlight boxes. Of course, you would never do this, as you would miss some of the juiciest stories. Here are some examples of each type of highlight box: Entrepreneurial Snapshot New to this fifth edition, these boxes reveal fascinating behind-the-scenes stories of people who have created some very interesting businesses.

Buck, of Buck Knives Lorena Garcia, Big Chef Little Chef Competitive Advantage: Innovation and Sustainability One of the most important if not the most important things you create in your small business is your competitive advantage—the factor that you manage better than everyone else.

Each chapter begins with Learning Objectives, which directly correlate to the chapter topic headings and coverage. These same objectives are then revisited and identified in each Chapter Summary. A running glossary in the margin brings attention to important terms as they appear in the text. Questions for Review and Discussion allow you to assess your retention and comprehension of the chapter concepts.

Questions for Critical Thinking prompt you to apply what you have learned to realistic situations. End-of-chapter What Would You Do? Chapter Closing Cases present actual business scenarios, allowing you to think critically about the management challenges presented and to further apply chapter concepts.

Complete Package of Support Materials This edition of Small Business Management provides a support package that will encourage student success and increase instructor effectiveness. A Video Guide is also included at the end of the manual. Instructors can import questions directly from the test bank, create their own questions, or edit existing questions.

CourseMate This new and unique online Web site makes course concepts come alive with interactive learning, study, and exam preparation tools supporting the printed text.

CourseMate delivers what students need, including an interactive eBook, dynamic flashcards, interactive quizzes and video exercises, student PowerPoints, and games that test knowledge in a fun way. Interactive video exercises allow students to relate the real-world events and issues shown in the chapter videos to specific in-text concepts.

Interactive quizzes reinforce the text with rejoinders that refer back to the section of the chapter where the concept is discussed. Student Companion Site The Student Companion Site includes interactive quizzes, a glossary, crossword puzzles, and sample student business plans.

It can be found at www. At the home page, students can use the search box at the top of the page to insert the ISBN of the title from the back cover of their book. This will take them to the product page, where free companion resources can be found. DVD This diverse collection of professionally produced videos can help instructors bring lectures to life by providing thought-provoking insights into real-world companies, products, and issues.

Acknowledgments There are so many people to thank—some who made this book possible, some who made it better. Projects of this magnitude do not happen in a vacuum. Even though my name is on the cover, a lot of talented people contributed their knowledge and skills.

Michele Rhoades has been visionary and insightful as the acquisitions editor in bringing this book into the Cengage list. I am so fortunate to have been reunited with Joanne Dauksewicz as my patient, nurturing development editor— she is fabulous. Emily Nesheim, content project manager, and Devanand Srinivasan, senior project manager, were wonderful in coordinating the production process. There are many other people whose names I unfortunately do not know who worked their magic in helping to make the beautiful book you hold in your hands, and I sincerely thank them all.

Of course, the entire group of Cengage sales reps will have a major impact on the success of this book. I appreciate all of their efforts. Thanks to Morgan Bridge and other faculty contributors.

I am especially grateful to Professor Amit Shah, Frostburg State University, for his help with the electronic ancillary program. Beck Sr. Stephen Childers Jr. Nicholas, University of Bridgeport Grantley E. My wife, Jill; daughters, Paige and Brittany; and son, Taylor, are the best.

The perseverance and work ethic needed for a job of this magnitude were instilled in me by my father, Drexel, and mother, Marjorie—now gone but never forgotten. Timothy S. Hatten About the Author Timothy S. He is currently codirector of the Entrepreneurial Business Institute. He is a Fulbright Scholar. He taught small business management and entrepreneurship at Reykjavik University in Iceland and business planning at the Russian-American Business Center in Magadan, Russia.

Product Description. Rent Monthly. Rent Day. What are my shipping options? The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product.

Pricing subject to change at any time. She and her husband operate a small business that they founded in She also serves on the editorial board for the International Journal of Public Administration and the boards of various local organizations. She has presented refereed papers both in the United Sates and England, and has coauthored eight business textbooks.

Her hobbies include water sports, reading, travel, and writing. Reduce course material costs for your students while still providing full access to everything they need to be successful. It isn't too good to be true - it's Inclusive Access. Learn more about Inclusive Access here.

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