Entrepreneurship and Small Business Management, 2nd edition

Published by Pearson (May 14, 2014) © 2015

  • Steve Mariotti Network for Teaching Entrepreneurship
  • Caroline Glackin University of North Carolina - Fayetteville State University

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For courses in Entrepreneurship and Small Business Management.

Written by award-winning experts, Steve Mariotti and Caroline Glackin, Entrepreneurship and Small Business Management presents complex economic, financial and business concepts in a manner easily understood by a variety of students.

Based on a proven curriculum from the Network for Teaching Entrepreneurship (NFTE), it is organized to follow the life-cycle of an entrepreneurial venture—from concept through implementation to harvesting or replication. Filled with examples from a broad range of industries, it moves further into the entrepreneurial process—discussing the business plan and also the unique aspects of managing and growing entrepreneurial ventures and small businesses.

This program will provide a better teaching and learning experience–for you and your students. Here’s how:

  • Help Students Apply Knowledge from the Text to the Real World: Cases give students the opportunity to solve real-world challenges. 
  • Present Special Insights on Presenting and Writing a Business Plan: Go beyond formulating a business plan to include critical topics of management, marketing and operations.
  • Guide Student’s Learning:  A proven curriculum builds on the expertise of the authors and the Network for Teaching Entrepreneurship (NFTE) to teach the nuts and bolts of how to start and operate an entrepreneurial small business.

Help Students Apply Knowledge from the Text to the Real World

  • NEW! Eight new Chapter Openers. These feature more small and entrepreneurial enterprises. New cases are: Bridgecreek Development, Mercedes, Virgin Group Ltd., University Parent, Aravind Eye Care System, Chilly Dilly, inDinero, and Paula Jagemann.
  • NEW! Eleven new short End-of-Chapter Case Studies. These are: Urban Decay, SarahCare of Snellville, Happy Belly Curbside Kitchen, BNI, MooBella, Gentle Rest Slumber, Holterholm Farms, Gelato Fiasco, The Bun Company, Khan Academy, and Anago Cleaning Systems.
  • NEW! Seven new longer End-of-Chapter Case Studies. These are: Foursquare, Wahoo’s Fish Tacos, Rosi and Brian Amador, Chilly Dilly’s Ice Cream, Airbnb, AYZH, and iContact.
  • NEW! All New Unit Cases. These are more current and relatable for students and include: Spanx, Kitchen Arts & Letters, Inc., Empact, Lee’s Ice Cream, ONLC, and Honest Tea.
  • NEW! Step into the Shoes, Entrepreneurial Wisdom, BizFacts, and Global Impact Features. These have been updated and expanded with 29 new featured items including 22 Step into the Shoes, 1 Entrepreneurial Wisdom, 2 BizFacts, and 4 Global Impact Features. These features connect chapter content to business facts and examples to reinforce learning.

Present Special Insights on Presenting and Writing a Business Plan

  • NEW! Honest Tea Featured Business Plan. From its early stage funding search, it provides students with an interesting startup plan for a company that is also featured in the Unit 6 case.
  • NEW! BizBuilder Business Plan Questions. These have been added to chapters to connect the content to student work using the business plan templates.
  • Two Complete Business Plans: Includes a sample of a start-up (The Daily Perc) and of an award-winning student business plan which has been implemented (University Parent).
  • Lifecycle organization: Explores key entrepreneurship topics from concept through implementation into harvesting or replication. Includes and goes beyond formulating a business plan to include critical topics of management, marketing and operations.
  • BizFacts and Entrepreneurial Wisdom sections: Appear throughout the text and Impart useful information regarding business practices. Contain insights or advice that assists students in the preparation of a business plan and understanding available resources.

Guide Student’s Learning

  • A proven curriculum: Written by award-winning experts. Builds on the expertise of the authors and the Network for Teaching Entrepreneurship (NFTE) to teach the nuts and bolts of how to start and operate an entrepreneurial small business. Tested over decades of experience in the classroom.
  • End-of-Chapter learning portfolio includes: 
    • Key Terms
    • Critical Thinking Exercises require readers to contemplate important issues and support a thoughtful response.
    • Key Concept Questions review core topics to support retention of learning.
    • Application Exercises reinforce topics through experience.
    • Exploring Your Community and Exploring Online assignments invite readers to go into their local community or search online material for information.
    • Cases for Analysis include one short and one long case with analytical questions.

Help Students Apply Knowledge from the Text to the Real World

  • Eight new Chapter Openers. These feature more small and entrepreneurial enterprises. New cases are: Bridgecreek Development, Mercedes, Virgin Group Ltd., University Parent, Aravind Eye Care System, Chilly Dilly, inDinero, and Paula Jagemann.
  • Eleven new short End-of-Chapter Case Studies. These are: Urban Decay, SarahCare of Snellville, Happy Belly Curbside Kitchen, BNI, MooBella, Gentle Rest Slumber, Holterholm Farms, Gelato Fiasco, The Bun Company, Khan Academy, and Anago Cleaning Systems.
  • Seven new longer End-of-Chapter Case Studies. These are: Foursquare, Wahoo’s Fish Tacos, Rosi and Brian Amador, Chilly Dilly’s Ice Cream, Airbnb, AYZH, and iContact.
  • All New Unit Cases. These are more current and relatable for students and include: Spanx, Kitchen Arts & Letters, Inc., Empact, Lee’s Ice Cream, ONLC, and Honest Tea.
  • Step into the Shoes, Entrepreneurial Wisdom, BizFacts, and Global Impact Features. These have been updated and expanded with 29 new featured items including 22 Step into the Shoes, 1 Entrepreneurial Wisdom, 2 BizFacts, and 4 Global Impact Features. These features connect chapter content to business facts and examples to reinforce learning.

Present Special Insights on Presenting and Writing a Business Plan

  • Honest Tea Featured Business Plan. From its early stage funding search, it provides students with an interesting startup plan for a company that is also featured in the Unit 6 case.
  •  BizBuilder Business Plan Questions. These have been added to chapters to connect the content to student work using the business plan templates.

Brief Contents

UNIT 1 Entrepreneurial Pathways

  • Chapter 1 Entrepreneurs Recognize Opportunities
  • Chapter 2 Franchising
  • Chapter 3 Finding Opportunity in an Existing Business
  • Chapter 4 The Business Plan: Road Map to Success
  • Honest Tea Business Plan
  • Unit 1 Case Study: Spanx

UNIT 2 Who Are Your Customers?

  • Chapter 5 Creating Business from Opportunity
  • Chapter 6 Exploring Your Market
  • Unit 2 Case Study: Kitchen Arts & Letters, Inc.

UNIT 3 Integrated Marketing

  • Chapter 7 Developing the Right Marketing Mix and Plan
  • Chapter 8 Pricing and Credit Strategies
  • Chapter 9 Integrated Marketing Communications
  • Chapter 10 Marketing Globally
  • Chapter 11 Smart Selling and Effective Customer Service
  • Unit 3 Case Study: Empact

UNIT 4 Show Me the Money: Finding, Securing, and Managing It

  • Chapter 12 Understanding and Managing Start-Up, Fixed, and Variable Costs
  • Chapter 13 Using Financial Statements to Guide a Business
  • Chapter 14 Cash Flow and Taxes
  • Chapter 15 Financing Strategy: Debt, Equity, or Both?
  • Unit 4 Case Study: Lee’s Ice Cream

UNIT 5 Operating a Small Business Effectively

  • Chapter 16 Addressing Legal Issues and Managing Risk
  • Chapter 17 Operating for Success
  • Chapter 18 Location, Facilities, and Layout
  • Chapter 19 Human Resources and Management
  • Unit 5 Case Study: ONLC

UNIT 6 Leadership, Ethics, and Exits

  • Chapter 20 Leadership and Ethical Practices
  • Chapter 21 Franchising, Licensing, and Harvesting: Cashing in Your Brand
  • Unit 6 Case Study: Honest Tea

Appendix 1 Sample Student Business Plan: University Parent, Inc.

Appendix 2 BizBuilder Business Plan

Appendix 3 Resources for Entrepreneurs

Appendix 4 Useful Formulas and Equations

Glossary

Index

Steve Mariotti, founder of the Network for Teaching Entrepreneurship (NFTE), is considered one of today’s leading experts in education for at-risk youth.  In 1982, he changed career paths when he decided to leave the corporate sector and become a special education teacher in the New York City public school system.

Mariotti’s first assignment was in the East New York section of Brooklyn, and his last was in the Fort Apache section of the South Bronx. During his six-and-a-half years teaching, Mariotti discovered he could successfully motivate even his most challenging students by teaching them how to run a business. This experience inspired him to create a new kind of program--the first to bring entrepreneurial education to low-income youth.

In 1987, Mariotti founded The Network for Teaching Entrepreneurship (NFTE). Today, NFTE’s mission is to provide entrepreneurship education programs to young people from low-income communities around the world.  NFTE’s programs have a proven track record of success, and the network is widely viewed as the thought leader in the field. NFTE is an active member of the Council on Foreign Relations. In 2013, Mariotti traveled to Southeast Asia as a guest of the U.S. State Department on a mission to spread entrepreneurial education to youth from emerging economies in the region.

Mariotti was recently nominated for a Pulitzer Prize for his work chronicling the lives of entrepreneurs worldwide for The Huffington Post and for a Nobel Peace Prize for his pioneering work in entrepreneurial education. A lifelong advocate for low-income students, Mariotti is the recipient of numerous awards including:

    • Ernst & Young Entrepreneur of the Year Award
    • Bernard A. Goldhirsh Social Entrepreneur of the Year Award
    • National Director’s Entrepreneurship Award from the Minority Business Development Agency of the U.S. Department of Commerce
    • Association of Education Publishers’ Golden Lamp Award
    • ACE/Currie Foundation Humanitarian Venture Award
    • America’s Top High School Business Teacher

In addition, Mariotti has been the subject of many national media profiles on such programs as ABC Evening News and 20/20.

He has authored and coauthored 34 books and workbooks on entrepreneurship, selling over 10 million worldwide and distributing many more copies for free to at-risk communities, including prisons.  His popular book The Young Entrepreneur’s Guide to Starting and Running a Small Business has recently been published in a new edition by Random House and is used to teach entrepreneurship from the United States to China, India, and the Middle East.  Mariotti is a regular attendee and speaker at The World Economic Forum.

Raised in Flint, Michigan, Mariotti received his B.B.A in business economics and his M.B.A. from the University of Michigan, Ann Arbor. He has also studied at Harvard University, Stanford University, and Brooklyn College. He started his professional career as a treasury analyst for Ford Motor Company before founding his own company, Mason Import/Export Services.

Caroline Glackin, Ph.D., is a “pracademic” who has successfully worked as a microenterprise and small business owner and manager, as an executive director of a community development financial institution, and as an academic in areas of community development finance, entrepreneurship, and management. She is Entrepreneurship Faculty at the University of North Carolina - Fayetteville State University. She has been assisting entrepreneurs in achieving their dreams for over 30 years.

Glackin earned a doctorate from the University of Delaware, where her research emphasis was on microfinance. She received an M.B.A. from The Wharton School at the University of Pennsylvania and a B.A. from Bryn Mawr College. Her professional career began with the DuPont Company, American Bell, Bell Atlantic, and American Management Systems. She has consulted for businesses and not-for-profit agencies in turnaround and high-growth situations. After exiting a family business, she became the executive director of a community development financial institution serving businesses and not-for-profits.

Dr. Glackin has succeeded in leading change in the practical fields of her research and has received numerous honors and awards. These include the first Gloeckner Business Plan Award at The Wharton School, the Minority Business Advocate of the Year for Delaware from the U.S. Small Business Administration, and the She Knows Where She’s Going Award from Girls Inc. Dr. Glackin cochaired the Delaware Governor’s Task Force for Financial Independence. She has participated in the Cornell University Emerging Markets Think Tank Series and has presented her research and pedagogy at numerous professional conferences.

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