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New Venture Management The Entrepreneur's Roadmap

ISBN-10: 0136130321

ISBN-13: 9780136130321

Edition: 2009

Authors: Donald F. Kuratko, Jeffrey S. Hornsby

List price: $80.40
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Description:

New Venture Managementintroduces students to the fundamentals of venture management.nbsp; This text provides students with a complete understanding of both the opportunities and challenges of managing new and emerging ventures.nbsp;New Venture Managementis appropriate for the expanding curriculum that is being taught in the field of Entrepreneurship, providing students with an understanding of how new ventures can be effectively managed.nbsp;
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Book details

List price: $80.40
Copyright year: 2009
Publisher: Prentice Hall PTR
Publication date: 12/31/2007
Binding: Paperback
Pages: 352
Size: 6.00" wide x 9.00" long x 0.50" tall
Weight: 1.254
Language: English

Preface
About the Authors
Introduction
New Ventures: The Quiet Giant
Introduction
New Ventures: Energizing Economies
The Global Impact of New Ventures
Entrepreneurs and New Ventures
Entrepreneurial Motivation
Advantages to Starting a New Venture
Independence
Financial Opportunities
Community Service
Job Security
Family Employment
Challenge
Disadvantages of Starting a New Venture
Sales Fluctuations
Competition
Increased Responsibilities
Financial Losses
Employee Relations
Laws and Regulations
Risk of Failure
New Venture Failure
Specific Causes of Failure
Failure: A Look at the Record
The New Venture Survival Rate
Avoiding New Venture Management Traps
Summary
Review and Discussion Questions
Endnotes
New Venture Opportunities
New or Acquired Ventures: The Pathways
Introduction
Approaches to New Venture Creation
New-New Approach
New-Old Approach
Market Analysis
Gathering of the Facts
Organization of the Facts
Analysis of the Facts
Implementation of an Action Plan
The Entrepreneur
The Financial Picture
Other Key Factors
Buying an Ongoing Venture
Advantages of Buying an Ongoing Venture
Less Fear about Successful Future Operation
Time and Effort Can Be Reduced
Buy at a Good Price
Key Questions to Ask
Why Is the Business Being Sold?
What Is the Current Physical Condition of the Business?
What Is the Condition of the Inventory?
What Is the State of the Company's Other Assets?
How Many of the Employees Will Remain?
What Type of Competition Does the Business Face?
What Is the Status of the Firm's Financial Picture?
Determining the Price
Assessing the Price
Book Value
Replacement Value
Liquidation Value
Past Earnings
Cash Flow
Asset Pricing
One Acceptable Formula?
Negotiating the Deal
Summary
Review and Discussion Questions
Endnotes
Franchising: The Hybrid
Introduction
The Nature of Franchising
Product or Service Franchise
Business Franchise
Conversion Franchising
How a Franchise Works
The Growth of Franchising
Advantages of Franchising
Training and Guidance
Brand-Name Appeal
A Proven Track Record
Financial Assistance
Disadvantages of Franchising
Franchise Fees
Franchisor Control
Unfulfilled Promises
Evaluating the Opportunities
Learn of Opportunities
Investigate the Franchisor
Seek Professional Help
The Decision: It's Up to the Entrepreneur
Trends in Franchising
Franchising Your Business
Summary
Review and Discussion Questions
Endnotes
New Venture Planning
Successful Business Plans: The Roadmap
Introduction
The Nature of a Business Plan
Importance of a Business Plan
What Is a Business Plan?
The Components of a Business Plan
Preparing the Business Plan
Helpful Hints
Updating Your Business Plan
Practical Example
Summary
Review and Discussion Questions
Endnotes
Legal Forms of Ventures: The Structure
Introduction
Forms of Business Organization
Sole Proprietorship
Advantages of Proprietorships
Disadvantages of Proprietorships
The Partnership
Types of Partnerships
Advantages of Partnerships
Disadvantages of Partnerships
The Corporation
Organizing the Corporation
The Corporate Structure
Advantages of Corporations
Disadvantages of Corporations
The S Corporation
The Limited Liability Company
Summary
Review and Discussion Questions
Endnotes
New Venture Marketing
Market Research: The Niche
Introduction
Determining Market Niches
Relevant Price Range
Competition
Examining the Current Market Niche
Market Niche Analysis: An Example
Market Niche Danger Signals
Marketing Research
How to Conduct Marketing Research
Secondary Sources
Primary Sources
Other Data Collection Methods
Using Research Data
Internet Marketing
Co-Marketing Deals and Banner Ads
Become a Popular Link
Sponsor Contests, Specials, and Other Interactive Features
Summary
Review and Discussion Questions
Endnotes
Strategic Pricing: The Hook
Introduction
Pricing Considerations
The Nature of the Product
The Competition
The Marketing Strategy
The Customer and Value Perceptions
General Conditions
Key Pricing Factors
The Cost of Goods
Competitive Prices
Pricing Strategies
Combination Strategies
How New Ventures Set Prices
Wholesalers
Retailers
Service Enterprises
Manufacturers
Summary
Review and Discussion Questions
Endnotes
New Venture Financing
Start-Up Capital: The Injection
Introduction
Basic Types of Capital
Debt Capital
Equity Capital
Sources of Capital
Personal Savings
Friends and Relatives
Venture Capitalists
Informal Investors
Internal Funds
Trade Credit
Banks
Other Private Sources of Capital
Small Business Administration
State and Local Development Companies
Small Business Investment Companies
Small Business Innovation Research Program
Minority Business Development Agency
Summary
Review and Discussion Questions
Endnotes
Financial Statements: The Scorecard
Introduction
Financial Statements
The Balance Sheet
Understanding the Balance Sheet
Why the Balance Sheet Always Balances
The Income Statement
Understanding the Income Statement
Keeping Proper Records
Sales and Cash Receipts Journal
Cash Disbursement, Purchases, and Expense Journal
Managing the Books
Computers, Software, and Financial Preparation
Early Warning Signs of Financial Trouble
Summary
Review and Discussion Questions
Endnotes
Financial Analysis: The Gauges
Introduction
Balance Sheet Analysis
Current-Position Ratios
Long-Run-Position Ratios
Income Statement Analysis
Income Statement Ratios
Combination Ratios
Limitations of Financial Statement Analysis
Financial Budgeting
Sales Budget
Cash Budget
Other Budgetary Considerations
Summary
Review and Discussion Questions
Endnotes
New Venture Growth Management
Human Resources: The People
Introduction
The Challenge of Managing Human Resources
Increasing Regulatory Concerns
Staffing
Assessing Staffing Needs
Human Resource Recruiting
Screening Potential Employees
Selecting and Orienting Employees
Principles of Effective Staffing
Performance Management
Training
Performance Appraisal
Management by Objectives
Compensation
Employee Discipline and Counseling
The Employee Handbook: A Key Tool for Employee Accountability
The Current State of Human Resource Management Practices
Critical Issues for the Future
Employee Morale
Improving Employee Performance
Summary
Review and Discussion Questions
Endnotes
Growing Ventures: The Future
Introduction
Unique Challenges of Growing Ventures
The Distinction of Smaller Size
The One-Person-Band Syndrome
Time Management
Community Obligations
Continuing Management Education
Other Issues in the Formative Years
Key Elements of Growth
Control
Responsibility
Effective Delegation
Tolerance of Failure
Change
Flexibility
The Transition from Entrepreneur to Manager
Balancing the Focus (Entrepreneur and Manager)
Outside Managerial Assistance
The Challenge of Ethical Practices in Growing Ventures
Ethical Codes of Conduct
Ethical Leadership by Entrepreneurs
The Quality Movement
Involve Top Management
Focus on Customer Needs
Train Employees
Empower Employees and Generate New Ideas
Recognize Employees
Conquer Fear
The Continuous-Improvement Challenge
Teamwork
The Challenges of Global Expansion
Why Globalize for Growth?
Researching the Global Market
Globalizing Your Product: Adaptation
Global Threats and Risks
Summary
Review and Discussion Questions
Endnotes
Green Fuel Alternatives
Executive Summary
Potential
Funding Need
Management
Business Description
General Description of Business
Industry Background
Competition Analysis
Products and Services
Strategy to Differentiate
Key Dynamics
Marketing
Economics
Market Analysis
Barriers to Entry
Product
Customers
Competition
Niche
Marketing Strategy
Management Segment
Legal Structure
Ownership
Management Team
Company Advisors
Operations
Plant Operations
Facilities and Equipment
Organizational Plan
Critical Risks
Soybean Oil Demand
Soybean Rust Fungus
Biodiesel Problems
Marketer Influence
Exit Strategies
Financial Segment
Start-Up Proposal
Financing Plan
Financial Assumptions
Start-Up Budgeting
Financial Appendix
Endnotes
Name Index
Subject Index