Small Business Management: Entrepreneurship and Beyond
Language: English
Pages: 528
ISBN: 128586638X
Format: PDF / Kindle (mobi) / ePub
SMALL BUSINESS MANAGEMENT provides a balanced introduction to both entrepreneurship and small business management, with a focus on achieving and maintaining a sustainable competitive advantage as a small organization. Current issues, including global opportunities, service, quality and technology, are highlighted throughout the text. The online Business Plan Guide and templates provide some of the most extensive information available on business planning.
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companies, thanks to revenues of $500 million. This rocket growth rate has not slowed, averaging annual 78.3 percent growth from 2003 to 2006 (hitting $1 billion per year). His success has not gone unnoticed: Under Armour was ranked number 6 on Business Week’s 2006 Hot Growth companies. Keep watching—Plank will continue to “protect this house.” After a November 2006 initial public offering, Plank’s personal net worth jumped to $789 million. His story is certainly an inspiration for any would-be
wrong, then determine what you can do about it. Problem identification is the most difficult part of strategic planning. It takes thorough SWOT and competitive analyses and a lot of analytical thinking to pinpoint problems like a current strategy that no longer suits your environment or a mismatch between your strengths and an opportunity that you have discerned. Bracing up one of your weaknesses and preparing for an upcoming threat are tasks that demand your attention. If completion of your SWOT
to get and to sell products. 105 106 Part 2 Planning in Small Business Service Policies as Part of Marketing Plan If you sell a product that may require service, such as cameras, copy machines, or bicycles, describe your service and warranty policies. These policies can be important in the customer’s decisionmaking process. How will you handle customer-service problems? Describe the terms and types of warranties offered. Explain whether you will provide service via your own service
calculations, your business plan should be carefully reviewed and revised before you present it to potential investors. After you have written your plan, rate it yourself the way lenders and investors will evaluate it (see Manager’s Notebook, “How Does Your Plan Rate?”). Business Plan Mistakes Often we can learn from the mistakes of others. Writing business plans is no exception. Bankers and investors who assess hundreds of business plans each year look for reasons to reject the proposals. This
analysis and make all location decisions without input from franchisees. Others give franchisees complete discretion in site selection. 16. Information about franchisees. You will receive information about the present number of franchises; the number of new franchises projected; and the number that have been terminated, chose not to renew, or were repurchased. 141 142 Part 3 Early Decisions Franchisors must give you the names, addresses, and phone numbers of all franchisees located in your
