Exceptionally practical, this best-selling book teaches budding entrepreneurs the "hands-on" tools and techniques for launching and managing a small business the right way -- and to imbue it with the staying power necessary to succeed and grow in the hotly competitive environment of the 21st century. Describes the key components of a business plan; provides step-by-step details on how to build one (including marketing and financial considerations); presents a sample plan; and shows how to put the business plan to work and how to secure funding. Explains how to use marketing and technology to gain a competitive edge -- including the World Wide Web and its application as a business tool. Discusses the importance of location and layout; techniques for enhancing profitability; how to manage people; the legal aspects of small business (including succession, ethics, and government regulation); global business opportunities; and trends shaping the business environment beyond 2000. Provides comprehensive cases and an abundance of real-world examples. For anyone interested in starting, managing, and growing a small business.
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The field of entrepreneurship is experiencing incredible rates of growth, not only in the United States but across the world as well. People of all ages, backgrounds, and stations of life are launching businesses of their own and, in the process, are reshaping the global economy. Entrepreneurs are discovering that the natural advantages resulting from their size—speed, flexibility, sensitivity to customers' needs, creativity, a spirit of innovation, and many others—give them the ability to compete successfully with companies many times their size and with budgets to match. As large companies struggle to survive wrenching changes in competitive forces by downsizing, merging, and restructuring, the unseen army of small businesses continues to flourish and to carry the nation's economy on its back. Entrepreneurs willing to assume the risks of the market to gain its rewards are at the heart of capitalism. These men and women, with their bold entrepreneurial spirits, have led our nation into prosperity throughout history. Entrepreneurship is a significant force throughout the world. We need look no farther than those nations that are throwing off decades of control and central planning in favor of capitalism to see where the entrepreneurial process begins. In every case, if is the entrepreneurs creating small companies that lead those nations out of the jungles of economic oppression to higher standards of living and hope for the future.
In the United States, we can be thankful that the small business sector is strong and thriving. Small companies deliver the goods and services we use every day, provide jobs and training for millions of workers, and lead the way in creating the products and services that will make our lives easier and more enjoyable in the future. Small businesses were responsible for introducing to the world the elevator, the airplane, FM radio, the zipper, the personal computer, and a host of other marvelous inventions. Only the imaginations of the next generation of entrepreneurs of which you may be a part can see what other fantastic products and services lie in our future! Whatever those ideas may be, we can be sure of one thing: Small businesses will be there to deliver them.
The purpose of this book is to excite you about the possibilities, the challenges, and the rewards of becoming an entrepreneur and to provide the tools you will need to be successful if you choose the path of the entrepreneur. It is not an easy road to follow, but the rewards—both tangible and intangible—are well worth the risks. Not only may you be rewarded financially for your business idea, but like entrepreneurs the world over, you will be able to work at something you love doing!
This edition of Effective Small Business Management: An Entrepreneurial Approach brings to you the material you will need to launch and manage a small business successfully in the hotly competitive environment of the twenty-first century. In writing this edition, we have worked hard to provide you with plenty of practical, "hands-on" tools and techniques to make your business venture a success. Many people launch businesses every year, but only some of them succeed. This book teaches you the right way to launch and manage a small business with the staying power to succeed and grow. Perhaps one day we'll be writing about your success story in the pages of this book!
Text Features
Effective Small Business Management, Seventh Edition, contains many unique features that make it the ideal book for entrepreneurs who are serious about launching their businesses the right way. These features include the following:
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