Small Business Management: Launching and Growing Entrepreneurial Ventures Longenecker 16th E

Small Business Management:

Launching and Growing
Entrepreneurial Ventures Longenecker
16th Edition Solutions Manual
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Help your students realize their dreams of small business success with this
market-leading book. SMALL BUSINESS MANAGEMENT: LAUNCHING
AND GROWING ENTREPRENEURIAL VENTURES, 16E provides the
practical concepts, entrepreneurial insights, and comprehensive resources
essential for students' success now and throughout your management
future. This edition's solid coverage of the fundamentals of business
management teaches not only how to start a business, but also how to
manage, grow, and harvest a business. This market leading text places
students in the role of decision maker to sharpen their understanding. The
book's thorough emphasis on building business plans ensures students
can effectively create, manage, and analyze a plan for their own ventures.
Unforgettable examples, exciting video cases, and coverage of the most
current developments in business management today keep this engaging
text and integrated learning system as current and practical now as it was
when it led the market in its first edition 50 years ago. This edition's SMALL
BUSINESS MANAGEMENT ONLINE student Web site and Small Business
and Entrepreneurship Resource Center help provide the valuable
understanding students will rely upon throughout their entire business
careers.

New in This Edition

• Completely new start-up stories videos offer inside views into today's innovative small
businesses in action: All of the videos are new and provide students with engaging,
insider looks into creative ideas at work in a variety of interesting and innovative small
businesses. Some of the videos cover Five Guys Burgers and Fries, Two Men and a
Truck, Kind Snacks, B2B CFO, among others. Available on DVD to instructors, these
lively segments bring a real-world perspective to the classroom with fascinating
illustrations of entrepreneurship in action.

• New, expanded content addresses timely global issues, breaking technology, and family
business. Now students can gain a solid understanding of multi-level marketing, e-
business, and legal and global issues affecting entrepreneurs in tough economic times.

o More on social media

• More on small-business opportunities

 • More on Internet businesses

• More examples of problems running a business

• Condensed coverage of ethics material

• Discussion of the effects of the recent recession on small businesses

• New feature: Start↑ (StartUp) features throughout provide direction and guidance on
entrepreneurial Skills, Tools, Actions, Resources, and Transforming (going to the next
level).

• New cases allow students to explore timely entreprenuerial opportunities. Careful thought
has gone into preparing new thought-provoking cases at the end of the text that highlight
companies such as W. S. Darley and Co., CitiStorage, Firewire Surfboards, and other
thriving organizations. Students apply concepts they learn in each chapter to these
realistic entrepreneurial situations.

Additional Features
• Clearly presented finance chapters keep important financial information understandable
and practical. Understanding and using financial information is frequently a challenge for
both students and today's small business owners. Because knowing how to use and apply
financial information is so critical for small business success, this edition's financial
chapters provide careful attention to finance matters. What was previously one chapter on
financial statements has been split into two chapters. The new material should help create
a level playing field for the "non-accounting" student.

• Small business and entrepreneurship resource center (SBERC) exercises highlight

breaking research and entrepreneurial concepts. Dynamic SBERC exercises at the end of
each chapter direct students to the Small Business and Entrepreneurship Resource
Center with more than 900,000 business articles and company information on various
exciting entrepreneurial ventures. Students learn how chapter topics apply to each
situation as they examine intriguing companies, such as Dyson, Bear Naked Granola,
Blue Nile, and iSoldIt!, LLC.
 • A full section devoted to developing a thorough business plan ensures success. This book
includes a full complement of chapters devoted to the essential tasks associated with
developing a business plan. The authors ensure that students answer all of the tough
questions in developing a business plan. Targeted questions within the chapters in Part 3
lead students through the process of building their own plans by focusing on the pertinent,
not the peripheral. An in-text sample business plan gives students a finished product to
dissect and analyze.

• The integrated learning system coordinates text and supplements for a winning
approach. Beginning with the "Looking Ahead" learning objectives that open each chapter,
this book organizes information into distinct, focused, and comprehensible segments.
Numbered icons in the text margins indicate where coverage related to each objective
appears. All relevant content related to learning objectives is recapped in end-of-chapter
"Looking Back" summaries.

• Alternate versions are available to match what the individual course covers. There are
three additional versions of Small Business Management available to match what the
instructor covers more closely. One version focuses on the pure entrepreneurship aspect
of starting up a small business, another focuses on managing and growing a new
business venture, and a third version is the full text with additional content covering the
recent global economic crisis.

• Entrepreneurship: Starting Up a Small Business (16th Edition): This version is a split of

the main text focused on starting a small business, and consists of chapters 1-13, 22 & 23
from the main text.

• Managing & Growing a New Business Venture (16th Edition): This version is a split of the
main text focused on managing and growing new business ventures. It consists of
chapters 1-5 and 14-23 from the main text.

• Small Business Management (16th Edition), Global Economic Watch Edition: This version
of the text is a paperback edition with extra content on the recent global economic crisis
bound in. This additional content explores the historical factors building toward the current
economic crisis as well as the impact on small business. It also contains a web access
code to the robust Global Economic Watch website. The website is updated four times
each day for premium current events coverage.

About the Author

Justin G. Longenecker established SMALL BUSINESS MANAGEMENT as a leader in the market
from the first edition of the book 52 years ago. In addition to this market-leading text, he wrote a
number of other business books and numerous articles in journals, such as Journal of Small
Business Management, Academy of Management Review, Business Horizons, and Journal of
Business Ethics. Longenecker was active in several professional organizations and served as
president of the International Council for Small Business. In 2005, the United States Association for
Small Business and Entrepreneurship (USASBE) honored him with the Max S. Wortman Lifetime
Achievement Award. In addition, the selection as a USASBE Justin G. Longenecker Fellow is the
highest recognition that the Association gives to individuals who have made an outstanding
contribution to the development, furtherance and benefit of small and medium businesses. Justin
Longenecker truly was a legend in his own time and continues to have profound influence through
the lives of those who knew him. Longenecker grew up in a family business. After attending Central
Christian College of Kansas for two years, he earned his B.A. in political science from Seattle Pacific
University, his M.B.A. from Ohio State University, and his Ph.D. from the University of Washington.
He taught at Baylor University, where he was Emeritus Chavanne Professor of Christian Ethics in
Business until his death in 2005.

Bill Petty is Professor of Finance and the W.W. Caruth Chairholder in Entrepreneurship at Baylor
University, and has been named a University Master Teacher. He also helped establish the Baylor
Angel Network where he now serves on the Board. He holds a PhD and an MBA from the University
of Texas at Austin and a BS from Abilene Christian University, where he is a member of the
University's Board of Trustees. He has taught at Virginia Tech University and Texas Tech University,
and has served as the dean of the business school at Abilene Christian University. Petty's research
interests include acquisitions of privately held companies, shareholder value-based management,
the financing of small and entrepreneurial firms, angel financing, and exit strategies for privately held
firms. He has served as co-editor for the Journal of Financial Research and editor of the Journal of
Entrepreneurial Finance. He has published articles in a number of finance and small business
journals and is the co-author of a leading corporate finance textbook Foundations of Finance. Petty
has worked as a consultant for oil and gas firms and consumer product companies. He also served
as a subject matter expert on a best-practices study on shareholder value-based management,
funded by the American Productivity and Quality Center, and he was part of a research team for the
Australian Department of Industry to study the feasibility of establishing a public equity market for
small- and medium-sized enterprises in Australia. He has served on the Board of Trustees for the
Financial Management Association and currently serves on the Board of the United States
Association of Small Business and Entrepreneurship (USASBE). Finally, he serves as the audit chair
for a publicly traded energy firm.

Leslie E. Palich is Professor of Management and Entrepreneurship and the W.A. Mays Professor of
Entrepreneurship at Baylor University, where he teaches courses in Small Business Management,
International Entrepreneurship, Strategic Management, and International Business to undergraduate
and graduate students in the Hankamer School of Business. He is also associate director of the
Entrepreneurship Studies program at Baylor. He holds a PhD and an MBA from Arizona State
University, and a BA from Manhattan Christian College. Palich's research has been published in the
Academy of Management Review, Strategic Management Journal, Journal of Business Venturing,
Journal of International Business Studies, Journal of Management, Journal of Organizational
Behavior, journal of small business management, and several other periodicals. Palich has taught
entrepreneurship and strategic management in a number of countries in Europe and Latin America.
His interest in entrepreneurial opportunity and small business management dates back to his grade-
school years, when he set up a produce sale venture to experiment with small business ownership.
That early experience became a springboard for a number of other enterprises. Since that time, he
has owned and operated domestic ventures in agribusiness, automobile sales, real estate
Another random document with
no related content on Scribd:
compare the mention in Evelyn’s Fumifugium noticed above),
refers to Vauxhall Gardens. Monconys, the French traveller
(1663), briefly describes “Les Jardins du Printemps” at Lambeth,
but it can hardly be made out whether he is alluding to the garden
called by Pepys the Old Spring Garden at Vauxhall or to the New
Spring Garden, i.e., Vauxhall Gardens (cp. Tanswell’s Lambeth, p.
181). The supposed site of the Old Spring Garden at Vauxhall (or
Lambeth) is indicated in a map in Manning and Bray’s Surrey, iii.
p. 526 (cp. Walford, vi. 340). The statement of Aubrey and Sir
John Hawkins, usually accepted by modern writers, that Sir
Samuel Morland occupied in 1675 a house on the site of Vauxhall
Gardens, is evidently erroneous (cp. Vauxhall Papers, No. 4, p.
28).
[320] Swift to Stella, 17 May, 1711.
[321] The Spectator, 20 May, 1712, No. 383. As notices of the
Spring Garden are rare at this period, the following advertisement
may be worth quoting:—“Lost in Fox Hall, Spring Garden, on the
29th past a little Spaniel Dog, Liver Coloured and white long Ears,
a Peak down his Forehead, a small Spot on each knee” (The
Postman, May 3–6, 1712). The pleasant walks of the Spring
Garden are referred to in 1714 in Thoresby’s Diary, ii. 215.
[322] A New Guide to London (1726). Guildhall Library,
London.
[323] Lockman in his Sketch of the Spring Gardens (1753?)
praises Jonathan Tyers for having reformed the morals of the
Spring Garden when he became proprietor in 1728.
[324] Several of the Vauxhall season tickets were designed for
Tyers by Hogarth. They are engraved in Nichols’s Lambeth, pl. xv.
p. 100, and in Wilkinson’s Londina lllustrata. A good though not
complete collection of Vauxhall tickets is in the British Museum,
including the series of silver tickets brought together by Mr.
Edward Hawkins. Tyers presented Hogarth as a return for his
services with a gold ticket, inscribed in perpetuam beneficii
memoriam, which was a free pass to the gardens for ever. Mrs.
Hogarth had it after her husband’s death, and in 1856 it was in the
possession of Mr. F. Gye who bought it for £20 (cp. Nightingale in
The Numismatic Chronicle, vol. xviii (1856), p. 97). In 1737 the
season tickets admitting two persons cost one guinea; in 1742
they were twenty-five shillings; in 1748, two guineas.
 [325] In honour of Frederick, Tyers constructed the “Prince’s
Pavilion” at the western end of the Gardens facing the orchestra.
[326] This description is adapted from the Scots Magazine for
July 1739.
[327] The lamps about the middle of the eighteenth century
were about 1,000–1,500 in number; they afterwards greatly
exceeded this total.
[328] Smollett’s Humphry Clinker.
[329] Goldsmith’s Citizen of the World, Letter lxxi.
[330] The cascade was varied in the course of years. In 1783
the background was a mountain view with palm trees.
[331] The Connoisseur, 15 May, 1755.
[332] From A description of Vauxhall Gardens, London, S.
Hooper, 1762.
[333] Further details as to the form of the Gardens may be
seen in the guides of Lockman and “Hooper.” Mr. Austin Dobson
(Eighteenth Century Vignettes, 1st series) gives the best modern
account of the Vauxhall geography.
[334] From about 1827 the entrance chiefly used by the public
was the “coach-entrance” at the corner of Kennington Lane.
[335] This has been attributed to Roubillac, but Mr. Dobson
thinks that it was probably by Henry Cheere who made such
leaden statues for gardens. The statue was cleared in 1779 of the
bushes that had grown round it, and it was still in the gardens in
1817.
[336] In 1818 it was removed to the house of Dr. Jonathan
Tyers Barrett in Duke Street, Westminster; it was described lately
(1894) as being in the possession of Mr. Alfred Littleton.
[337] On Lowe, see supra, p. 50, p. 101 f., and p. 243.
[338] As to the introduction of the covered walk see infra, § 4.
[339] Trusler’s London Adviser, p. 163.
[340] Notes and Queries, 6th ser. ix. (1884), p. 208.
[341] Evelina, Letter xlvi. Cp. The Macaroni and Theatrical
Magazine for September 1773, p. 529, which gives a plate
showing “the Macaroney Beaus and Bells in an Uproar, or the last
Evening at Vauxhall Gardens” (W. Coll.).
 [342] The Gazeteer and New Daily Advertiser, 29 June, 1772.
[343] The Vauxhall Affray, or the Macaronies defeated, London,
1773; Westminster Magazine for September 1773, p. 558; The
Macaroni and Theatrical Magazine for August 1773, where there
is a copper-plate showing the parson fighting the footman (W.
Coll.).
[344] British Magazine, 6 August, 1782.
[345] Westminster Magazine, May 1775.
[346] Middlesex Journal, July 23–25, 1775.
[347] On the gala nights the charge was three shillings.
[348] A burlesque account in the Bon Ton Magazine, June
1791, with plate (W. Coll.).
[349] Her husband, Mr. Mountain, was leader at Vauxhall from
1792.
[350] On Mrs. Bland, see supra, p. 137 (White Conduit House).
[351] Miss Tunstall, another singer, was in repute at the
gardens about 1820.
[352] Sketches from St. George’s Fields (1821), 2nd ser. p.
216.
[353] In 1806 the opening of the gardens on Saturdays was
discontinued on account of the disorderly persons staying on late
into Sunday morning. From about this time the gardens were for a
long period usually open on three days of the week only.
[354] Already in 1769 an awning or other covering was placed
over one of the walks, and “covered walks” are afterwards alluded
to. The permanent colonnade was not erected till 1810.
[355] Some accounts say £28,000.
[356] Admission, three shillings and sixpence.
[357] This Prince’s Gallery was burnt down in 1800.
[358] Among the curious characters of Vauxhall Gardens must
be noticed a youth named Joseph Leeming, who called himself
“the Aeriel” and “the Paragon of Perfection,” and offered himself
for inspection to artists and surgeons as a model of bodily
perfection. On 2 July, 1825, and on subsequent occasions he
mingled with the other visitors at Vauxhall and created excitement
by his extraordinary Spanish costume and by distributing three or
 four hundred “Challenges” to the people in front of the orchestra.
One of these curious challenges is in my collection. It is a small
card printed with the words “The Aeriel (sic) challenges the whole
world to find a man that can in any way compete with him as
such. No.—.” (cp. Hone’s Every Day Book, i. p. 1456, ff.).
[359] An earlier balloon ascent from Vauxhall Gardens by
Garnerin in 1802 may be noted.
[360] A detailed account of the voyage is given in Monck
Mason’s Aeronautica, London, 1838.
[361] The publication came to an end on 23 August, 1841. It
consisted of sixteen parts, sixpence each. A set of these is in my
collection. Mr. H. A. Rogers, of Stroud Green, has recently
undertaken an interesting facsimile reprint of this scarce little
journal.
[362] This part of Tyers Street was formerly called Brunel
Street.
[363] Punch for 21 August, 1869, “The Lament of the
Colonnade.”

Transcriber’s Notes:

1. Obvious printers’, punctuation and spelling errors have been corrected silently.

2. Some hyphenated and non-hyphenated versions of the same words have been
retained as in the original.
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