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Essentials of Entrepreneurship and Small Business Management, 9th edition

Published by Pearson (January 5, 2018) © 2019

  • Norman M Scarborough Presbyterian College
  • Jeffrey R. Cornwall Belmont University

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For courses in entrepreneurship.

The foundation to building a successful business

Taking a practical, hands-on approach to entrepreneurship, Essentials of Entrepreneurship and Small Business Management teaches students how to successfully launch and manage a business.

Now in its 9th Edition, the text equips students with the tools and critical-thinking skills they need for business success. It dissects case studies, examines successes and failures in the context of the market, and observes the tactics used by today's most successful small business ventures. With this, students develop the skills that will give them a unique advantage in a hotly competitive environment.

Hallmark features of this title

Practical tactics for budding entrepreneurs

  • Create a business plan. The text shows students how to write a plan that will not only help them build a successful business, but also convince potential lenders and investors to put up financing for it.
  • Beyond the Classroom questions engage students and help them develop their analytical and critical-thinking skills.

New and updated features of this title

Concepts drawn from real business

  • UPDATED: Real-world examples show students how entrepreneurs are putting the text's material into action, and help learners understand key concepts in the course.
  • NEW: 10 Cases, covering several topics about small companies, challenge students to think critically about concepts covered in the text.
  • REVISED: The latest entrepreneurial data. Every chapter in this text reflects the most recent statistics, studies, surveys and research about entrepreneurship and small business management.

Practical tactics for budding entrepreneurs

  • UPDATED: Hands on…How To? features give students a foundation for entrepreneurial concepts, selecting a concept from each chapter and explaining how to put it into practice.
  • UPDATED: You Be The Consultant boxes detail a decision that an entrepreneur faces, asking students to play the role of consultant and advise the entrepreneur on the best course of action. Questions focus students' attention on key issues and help them hone their analytical and critical-thinking skills.

Highlights of the DIGITAL UPDATE for MyLab Entrepreneurship (available for Fall 2022 classes)

Instructors, contact your sales rep to ensure you have the most recent version of the course.

  • NEW: Videos help students understand why they're learning key concepts and how to apply them in their careers. New assignments have been added to all chapters.
  • NEW: Case Assignments help students to think critically and make optimal decisions in complex situations. New assignments have students use ratio analysis to analyze a small company's balance sheet and income statement, create a cash flow forecast for a small company, and much more.

Features of MyLab Entrepreneurship for the 9th Edition; published 2018

  • Mini Sims put students in professional roles and give them the opportunity to apply course concepts and develop decision-making skills through real-world business challenges.
  • The Study Plan provides students with personalized recommendations, practice opportunities, and learning aids to help keep them on track.
  • Dynamic Study Modules help students study chapter topics on their own by continuously assessing their knowledge application and performance in real time.

SECTION 1: THE CHALLENGE OF ENTREPRENEURSHIP

  1. The Foundations of Entrepreneurship
  2. Ethics and Social Responsibility: Doing the Right Thing
  3. Creativity and Innovation: Keys to Entrepreneurial Success

SECTION 2: THE ENTREPRENEURIAL JOURNEY BEGINS

  1. Conducting a Feasibility Analysis and Designing a Business Model
  2. Crafting a Business Plan and Building a Solid Strategic Plan
  3. Forms of Business Ownership
  4. Buying an Existing Business
  5. Franchising and the Entrepreneur

SECTION 3: LAUNCHING THE BUSINESS

  1. Building a Powerful Bootstrap Marketing Plan
  2. E-Commerce and the Entrepreneur
  3. Pricing and Credit Strategies
  4. Creating a Successful Financial Plan
  5. Managing Cash Flow
  6. Choosing the Right Location and Layout

SECTION 4: PUTTING THE BUSINESS PLAN TO WORK: SOURCES OF FUNDS

  1. Sources of Financing: Equity and Debt
  2. Global Aspects of Entrepreneurship
  3. Building a New Venture Team and Planning for the Next Generation

Appendix: The Daily Perc Business Plan

Cases

About our authors

Norman M. 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 is the Jack C. Massey Chair in Entrepreneurship and Professor of Entrepreneurship at Belmont University in Nashville, Tennessee. He has spent more than 40 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 national awards 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 9 books and numerous articles on entrepreneurship.

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