For undergraduate and graduate courses in entrepreneurship and/or small business management.

Discover how to successfully launch and manage a small business.

Open your students' minds to the possibilities, challenges, and rewards of becoming a small business owner with Entrepreneurship and Effective Small Business Management. This text provides students with the tools they need in order to launch and manage a small business.

This 11th Edition continues to provide students with a practical, hands-on approach to launch a business that has the greatest chance for success. This edition features ten new cases and the most recent statistics, studies, surveys, and research about entrepreneurship and small business management.

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Norman M. Scarborough

Norman Scarborough is the William Henry Scott III Professor of Entrepreneurship at Presbyterian College, where he has taught since 1979. He is the author of many books and articles. In addition to his track record of publications, Scarborough is recognized as an outstanding teacher, having been named the South Carolina Professor of the Year by the prestigious Council for the Advancement and Support of Education. He has served on the Board of Directors for the United States Association for Small Business and Entrepreneurship (USASBE) and in 2010 was named a USASBE Longenecker Fellow, the organization's highest honor, given to individuals who have made outstanding contributions to the development, furtherance, and benefit of entrepreneurship in their teaching, writing, research, training, and public service. Scarborough is also very active in his local community, donating hundreds of hours each year to nonprofit organizations.In 2005, he was named the Citizen of the Year in his local community. In his spare time, Scarborough enjoys the outdoors, particularly fly fishing and skeet shooting.

Jeffrey R. Cornwall

Jeff Cornwall is the Jack C. Massey Chair in Entrepreneurship and Professor of Entrepreneurship at Belmont University in Nashville, Tennessee. He has spent more than forty years as a serial entrepreneur and teacher of entrepreneurs. In the 1970s, he started several small businesses and was involved in various family ventures. In the late 1980s, following several years in academics, he co founded Atlantic Behavioral Health Systems in Raleigh, NC and spent nearly a decade leading the company as President/CEO. He remains active as an entrepreneur with the digital content venture he co-founded in 2014, Entrepreneurial Mind, LLC. In his academic career, Cornwall has received nationalawards for his work in curriculum development and teaching. In 2013, the United States Association of Small Business and Entrepreneurship named Cornwall the National Entrepreneurship Educator of the Year. He has authored nine books and numerous articles on entrepreneurship.

• Section 1: The Rewards and Challenges of Entrepreneurship
• 1. Entrepreneurs: The Driving Force Behind Small Business
• 2. Ethics and Social Responsibility: Doing the Right Thing
• 3. Creativity and Innovation: Keys to Entrepreneurial Success
• 4. Strategic Management and the Entrepreneur
• Section 2: Launching a Venture: Entry Strategies
• 5. Choosing a Form of Ownership
• 6. Franchising and the Entrepreneur
• 7. Buying an Existing Business
• 8. New Business Planning Process: Feasibility Analysis, Business Modeling, and Crafting a Winning Business Plan
• Section 3: Building a Marketing Plan
• 9. Building a Bootstrap Marketing Plan
• 10. Creative Use of Advertising and Promotion
• 11. Pricing and Credit Strategies
• 12. Global Marketing Strategies
• 13. E-Commerce and Entrepreneurship
• Section 4: Building a Financial Plan
• 14. Creating a Solid Financial Plan
• 15. Managing Cash Flow
• 16. Sources of Equity Financing
• 17. Sources of Debt Financing
• Section 5: Building an Operating Plan
• 18. Location, Layout, and Physical Facilities
• 19. Supply Chain Management
• 20. Managing Inventory
• 21. Staffing and Leading a Growing Company
• Section 6: Legal Aspects of Small Business: Succession, Ethics, and Government Regulation
• 22. Management Succession and Risk Management Strategies in the Family Business
• 23. The Legal Environment: Business Law and Government Regulation