Small Business Management - Richard M. Hodgetts

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Résumé :
In order to become a successful entrepreneur, one has to have a clear understanding of how to effectively manage a small business. This valuable introduction shows budding entrepreneurs how to launch and run their own firm. In addition to explaining the value and appeal of small businesses, it offers a variety of essential start-up lessons, including how to write a business plan, obtain financing, and choose a legal form for any venture....

Sommaire:

PART I: SMALL BUSINESS IN THE UNITED STATES

1 An Introduction to the Small Business Life-A Large Contribution to the U.S. Economy 1

Introduction 2

1.1 Defining the Small Business 2

1.1.1 The U.S. Government Definition 3

1.1.2 Other Factors Making a Business Small 4

1.1.3 Small Business Owners vs. Entrepreneurs 5

Self-Check 5

1.2 The Contributions of Small Business 6

Self-Check 8

1.3 The Advantages and Disadvantages of Small Business 8

1.3.1 The Advantages of Owning a Small Business 9

1.3.2 The Disadvantages of Owning a Small Business 10

Self-Check 12

1.4 Small Business Failure 12

1.4.1 Some Causes of Failure 13

1.4.2 Avoiding Management Traps Leading to Failure. 14

Self-Check 16

1.5 Ethics in Small Business. 16

1.5.1 Ethical Practices and Codes of Conduct 18

1.5.2 Ethical Leadership 18

1.5.3 Social Responsibility 20

Self-Check 22

Summary 22

Key Terms 23

Summary Questions 25

Applying This Chapter. 27

You Try It. 29

2 Small Business Opportunities-Exploring the Options 30

Introduction 31

2.1 Starting a New Small Business 32

2.1.1 Identifying the Business Opportunity 32

2.1.2 Conducting a Market Analysis 32

2.1.3 The Action Plan 34

Self-Check 37

2.2 Buying an Existing Business 37

2.2.1 Advantages of Buying an Ongoing Small Business 38

2.2.2 Key Questions to Ask 39

2.2.3 Determining the Price 42

2.2.4 Negotiating the Deal and Having an Action Plan 45

Self-Check 46

2.3 Exploring the World of Franchising 46

2.3.1 The Nature of Franchising 46

2.3.2 The Advantages and Disadvantages of Franchising 48

2.3.3 Researching a Franchising Opportunity 49

Self-Check 51

2.4 The Growing World of Home-Based Businesses 51

2.4.1 The Changing Workplace 51

2.4.2 Advantages and Disadvantages 52

2.4.3 Getting Started 52

2.4.4 Skills for Self-Management 54

2.4.5 Attention to Office Organization 55

2.4.6 Management of the Operations 57

Self-Check 58

2.5 Determining Location and Layout 58

2.5.1 General Factors in Selecting a Location 59

2.5.2 Business Specific Factors in Selecting a Location 60

2.5.3 Leasing, Buying or Building 63

2.5.4 Adapting the Facility 63

2.5.5 Designing the Layout 64

Self-Check 68

Summary 68

Key Terms 69

Summary Questions 71

Applying This Chapter. 72

You Try It. 74

3 The Family-Owned Business-Understanding the Unique Opportunities and Challenges 75

Introduction 76

3.1 Advantages and Disadvantages of Family-Owned Businesses 76

3.1.1 The Advantages 77

3.1.2 The Disadvantages 78

Self-Check 82

3.2 The Difficult Issue of Succession and Transitions 82

3.2.1 Legal Succession Issues 83

3.2.2 Succession and Transitions, the Nature of the Challenge 84

Self-Check 88

3.3 Developing a Succession Strategy. 88

3.3.1 Understanding the Contextual Aspects 88

3.3.2 Identifying Successor Qualities 90

3.3.3 Carrying Out the Succession Plan 92

3.3.4 A Summary Checklist 94

Self-Check 95

Summary 95

Key Terms 95

Summary Questions 96

Applying This Chapter. 96

You Try It. 98

PART II: STARTING A SMALL BUSINESS

4 Developing a Business Plan-Creating a Roadmap for Success 99

Introduction 100

4.1 Why Develop a Business Plan? 100

4.1.1 The Importance of a Business Plan 101

4.1.2 What is a Busin...