Entrepreneurship: Starting and Operating A Small Business, 5th edition

Published by Pearson (February 1, 2019) © 2020

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

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For entrepreneurship courses.

A comprehensive, practical approach to starting a business

Entrepreneurship: Starting & Operating A Small Business untangles the complex economic, financial and professional considerations surrounding business ownership and operations. Balancing real case studies with thoughtful instruction, the text helps students develop a business plan step by step. This approach allows them to internalize different aspects of business ownership at a self-guided pace.

The 5th Edition features substantially revised content and cases. Students will be well equipped to start drawing up a business plan immediately, enhancing their experience both in and out of the classroom.

Hallmark features of this title

  • Mixing theory with application, the text introduces students to the theories, methods, knowledge and skills required of entrepreneurs.
  • The authors' business acumen and educational expertise make for a fluid transfer of business concepts between text, instructor and student.
  • Chapter Openers include an introduction and Learning Objectives that serve as “road maps” so readers know where they're headed.
  • End-of-chapter exercises and problems test students' understanding and help develop critical-thinking skills.
  • BizBuilder worksheets and templates help students build a business plan, create a presentation, and calculate prospective results.
  • A Osterwalder and Pigneur Business Model Canvas lets students develop a business model and explore the Lean Startup process.

New and updated features of this title

  • REVISED: Each chapter has been substantially revised to address emerging topics in entrepreneurship, such as necessity- vs. opportunity-based entrepreneurship, and effectual reasoning.
  • UPDATED: End-of-Chapter and Long-Form Case Studies on companies such as MekaMon Robots, eSight Eyewear, and Scentsy allow students to closely analyze business successes and challenges.
  • UPDATED: Unit Case Studies provide students with a deeper level of engagement, profiling businesses such as Spanx, Lee's Ice Cream, and ONLC Training Centers.
  • UPDATED: Step into the Shoes of the Experts, Entrepreneurial Wisdom, BizFacts, and Global Impact sections now highlight Pixlee, Gary Vaynerchuk, Chrysler Motors, and Tom's.
  • NEW: Canvas Connections sections help students create and evolve their Business Model Canvases as their knowledge and understanding increases.
  • UPDATED: A full-length Honest Tea business plan has students analyze and draw inspiration from the company.

Features of MyLab Entrepreneurship for the 5th Edition

  • MediaShare for Business offers a curated collection of videos that include customizable, auto-scored assignments, so students understand how to apply concepts in their careers.
  • NEW: Pearson eText is an easy-to-use digital textbook, available with MyLab, which lets students read, highlight and take notes all in one place, even when offline.
  • The Study Plan provides personalized recommendations, practice opportunities and learning aids to help students stay on track.
  • 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.

UNIT 1: ENTREPRENEURIAL PATHWAYS
1. Entrepreneurs and Entrepreneurship
2. Pathways to Success: Processes and Instruments
3. Creating Business from Opportunity

UNIT 2: INTEGRATED MARKETING
4. Exploring Your Market
5. Developing the Marketing Mix and Plan
6. Smart Selling and Effective Customer Service

UNIT 3: SHOW ME THE MONEY: FINDING, SECURING, AND MANAGING IT
7. Understanding and Managing Start-Up, Fixed, and Variable Costs
8. Using Financial Statement to Guide a Business
9. Cash Flow and Taxes
10. Financing Strategy and Tactics

UNIT 4: OPERATING A SMALL BUSINESS EFFECTIVELY
11. Addressing Legal Issues and Managing Risk
12. Operating for Success
13. Management, Leadership, and Ethical Practices

UNIT 5: CASHING IN THE BRAND
14. Franchising, Licensing, and Harvesting: Cashing in Your Brand

APPENDICES
1. BizBuilder Business Plan
2. Resources for Entrepreneurs
3. Useful Formulas and Equations

About our authors

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 6.5 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 US 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 the Ernst & Young Entrepreneur of the Year Award, the Bernard A. Goldhirsh Social Entrepreneur of the Year Award, the National Director's Entrepreneurship Award from the Minority Business Development Agency of the US Department of Commerce, the Association of Education Publishers' Golden Lamp Award, the ACE/Currie Foundation Humanitarian-Venture Award, and 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 BBA in business economics and his MBA from the University of Michigan, Ann Arbor. He has also studied at Harvard University, Stanford University, Brooklyn College, and Princeton University. He started his professional career as a treasury analyst for Ford Motor Company before founding his own company, Mason Import/Export Services.

Caroline Glackin, PhD 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 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 MBA from The Wharton School at the University of Pennsylvania and a BA 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 US Small Business Administration, and the She Knows Where She's Going Award from Girls Inc. Dr. Glackin co-chaired 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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