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Small Business Management
Creating a Sustainable Competitive Advantage

Seventh Edition
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December 2018 | 512 pages | SAGE Publications, Inc
Now with SAGE Publishing!

Timothy S. Hatten’s Small Business Management: Creating a Sustainable Competitive Advantage, Seventh Edition equips students with the tools they need to navigate the important financial, legal, marketing, managerial, and operational decisions to help them create and maintain a sustainable competitive advantage in small business. Strong emphasis is placed on application with Experiential Learning Activities and application of technology and social media throughout. New cases, real-world examples, and illuminating features spotlight the diverse, innovative contributions of small business owners to the economy. Whether your students dream of launching a new venture, purchasing a franchise, managing a lifestyle business, or joining the family company, they will learn important best practices for competing in the modern business world.

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Preface
 
Acknowledgments
 
About the Author
 
PART I: THE CHALLENGE
 
Chapter 1: Small Business: An Overview
Concept Module 1.1: What Is Small Business?  
Concept Module 1.2: Small Businesses in the U.S. Economy  
Concept Module 1.3: Workforce Diversity and Small Business Ownership  
Concept Module 1.4: Secrets of Small Business Success  
Concept Module 1.5: Understanding the Risks of Small Business Ownership  
Chapter Review  
 
Chapter 2: Small Business Management and Entrepreneurship
Concept Module 2.1: The Entrepreneur–Manager Relationship  
Concept Module 2.2: A Model of the Start-Up Process  
Concept Module 2.3: Your Decision for Self-Employment  
Concept Module 2.4: Creativity and Innovation in Small Business  
Chapter Review  
 
PART II: PLANNING IN SMALL BUSINESS
 
Chapter 3: Social Entrepreneurs, Ethics, and Strategic Planning
Concept Module 3.1: Relationship Between Social Responsibility, Ethics, and Strategic Planning  
Concept Module 3.2: Social Entrepreneurship  
Concept Module 3.3: Ethics and Business Strategy  
Concept Module 3.4: Strategic Planning  
Chapter Review  
 
Chapter 4: The Business Plan
Concept Module 4.1: Every Business Needs a Plan  
Concept Module 4.2: Business Models and Feasibility Analysis  
Concept Module 4.3: Business Plan Contents  
Concept Module 4.4: Review Process  
Concept Module 4.5: The Pitch  
Chapter Review  
 
PART III: EARLY DECISIONS
 
Chapter 5: Franchising
Concept Module 5.1: About Franchising  
Concept Module 5.2: Why Open a Franchise?  
Concept Module 5.3: Selecting a Franchise  
Chapter Review  
 
Chapter 6: Taking Over an Existing Business
Concept Module 6.1: Business-Buyout Alternative  
Concept Module 6.2: How Do You Find a Business for Sale?  
Concept Module 6.3: What Do You Look for in a Business?  
Concept Module 6.4: What Are You Buying?  
Concept Module 6.5: How Much Should You Pay?  
Concept Module 6.6: Buying the Business  
Concept Module 6.7: Taking Over a Family Business  
Chapter Review  
 
Chapter 7: Starting a New Business
Concept Module 7.1: About Start-Ups  
Concept Module 7.2: Types of New Businesses  
Concept Module 7.3: Evaluating Potential Start-Ups  
Concept Module 7.4: Getting Started  
Chapter Review  
 
PART IV: FINANCIAL AND LEGAL MANAGEMENT
 
Chapter 8: Accounting Records and Financial Statements
Concept Module 8.1: Small Business Accounting  
Concept Module 8.2: Small Business Accounting Basics  
Concept Module 8.3: Analyzing Financial Statements  
Concept Module 8.4: Managing Cash Flow  
Chapter Review  
 
Chapter 9: Small Business Finance
Concept Module 9.1: Funding for Small Business  
Concept Module 9.2: Basic Financial Vocabulary  
Concept Module 9.3: How Can You Find Capital?  
Chapter Review  
 
Chapter 10: The Legal Environment
Concept Module 10.1: Small Business and the Law  
Concept Module 10.2: Bankruptcy Laws  
Concept Module 10.3: Contract Law for Small Businesses  
Concept Module 10.4: Laws to Protect Intellectual Property  
Concept Module 10.5: Forms of Business Organization  
Chapter Review  
 
PART V: MARKETING THE PRODUCT OR SERVICE
 
Chapter 11: Small Business Marketing: Strategy and Research
Concept Module 11.1: Small Business Marketing  
Concept Module 11.2: Marketing Strategies for Small Businesses  
Concept Module 11.3: Market Research  
Chapter Review  
 
Chapter 12: Small Business Marketing: Location
Concept Module 12.1: Small Business Distribution  
Concept Module 12.2: Location for the Long Run  
Concept Module 12.3: Site Selection  
Concept Module 12.4: Location Types  
Concept Module 12.5: Layout and Design  
Concept Module 12.6: Lease, Buy, or Build?  
Chapter Review  
 
Chapter 13: Small Business Marketing: Price and Promotion
Concept Module 13.1: The Economics of Pricing  
Concept Module 13.2: Breakeven Analysis  
Concept Module 13.3: Price-Setting Techniques  
Concept Module 13.4: Getting Paid  
Concept Module 13.5: Promotion  
Chapter Review  
 
PART VI: MANAGING SMALL BUSINESS
 
Chapter 14: Professional Small Business Management
Concept Module 14.1: Managing Small Business  
Concept Module 14.2: Small Business Growth  
Concept Module 14.3: Leadership in Action  
Concept Module 14.4: Special Management Concerns: Time and Stress Management  
Chapter Review  
 
Chapter 15: Human Resource Management
Concept Module 15.1: Hiring the Right Employees  
Concept Module 15.2: Employee Recruitment  
Concept Module 15.3: Selecting Employees  
Concept Module 15.4: Placing and Training Employees  
Concept Module 15.5: Compensating Employees  
Concept Module 15.6: When Problems Arise: Employee Discipline and Termination  
Chapter Review  
 
Chapter 16: Operations Management
Concept Module 16.1: Elements of Operating Management  
Concept Module 16.2: Operations Management  
Concept Module 16.3: What about Scheduling Operations?  
Concept Module 16.4: Quality-Centered Management  
Concept Module 16.5: Purchasing for Small Business  
Concept Module 16.6: Managing Inventory  
Chapter Review  
 
Glossary
 
Notes
 
Index

Supplements

Instructor Resource Site

Instructors: SAGE coursepacks and SAGE edge online resources are included FREE with this text. For a brief demo, contact your sales representative today. 

edge.sagepub.com/hatten7e
 
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 *For use in: Blackboard, Canvas, Brightspace by Desire2Learn (D2L), and Moodle

Don’t use an LMS platform? No problem, you can still access many of the online resources for your text via SAGE edge.

With SAGE coursepacks, you get: 

  • quality textbook content delivered directly into your LMS
  • an intuitive, simple format that makes it easy to integrate the material into your course with minimal effort;
  • assessment tools that foster review, practice, and critical thinking, including:
    • diagnostic chapter pre tests and post tests that identify opportunities for improvement, track student progress, and ensure mastery of key learning objectives
    • test banks built on Bloom’s Taxonomy that provide a diverse range of test items with ExamView test generation
    • activity and quiz options that allow you to choose only the assignments and tests you want 
    • instructions on how to use and integrate the comprehensive assessments and resources provided;
  • assignable SAGE Premium Video (available via the interactive eBook version, linked through SAGE coursepacks) that is tied to learning objectives, and curated and produced exclusively for this text to bring concepts to life, featuring: 
    • Small Business in Action videos that showcase stories and interviews from a wide variety of small business owners with footage showing the business owner and their businesses in action
    • How To… videos that focus on basic concepts to further clarify and enhance understanding of common, basic business needs
    • Corresponding multimedia assessment options that automatically feed to your gradebook
    • Comprehensive, downloadable, easy-to-use Media Guide in the Coursepack for every video resource, listing the chapter to which the video content is tied, matching learning objective(s), a helpful description of the video content, and assessment questions 
  • editable, chapter-specific PowerPoint® slides that offer flexibility when creating multimedia lectures so you don’t have to start from scratch;
  • sample course syllabi with suggested models for structuring your course that give you options to customize your course to your exact needs;
  • Instructor’s manual containing: lecture notes that summarize key concepts on a chapter-by-chapter basis to help you with preparation for lectures and class discussions; teaching tips to provide some additional ideas for integrating classroom content; suggested answers to Concept Check questions, notes for use of the experiential learning activities and case notes. 
  • integrated links to the interactive eBook that make it easy for students to maximize their study time with this “anywhere, anytime” mobile-friendly version of the text. It also offers access to more digital tools and resources, including SAGE Premium Video; and
  • all tables and figures from the textbook 
Student Study Site

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SAGE edge for students enhances learning, it’s easy to use, and offers:

  • an open-access site that makes it easy for students to maximize their study time, anywhere, anytime;
  • multimedia resources that bring concepts to life, are tied to learning objectives, and are curated and produced exclusively for this text; 
  • eFlashcards that strengthen understanding of key terms and concepts;
  • eQuizzes that allow students to practice and assess how much they’ve learned and where they need to focus their attention;
  • chapter summaries with learning objectives that reinforce the most important material;
  • chapter-specific study questions that allow students to engage with the material; and
  • Business Plan Guide for help in writing a plan for your business

For instructors

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