Entrepreneurship: The Art, Science, and Process for Success 4th Edition by Charles Bamford, ISBN-13: 978-1260682427
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- Publisher: McGraw Hill; 4th edition (February 1, 2021)
- Language: English
- ISBN-10: 1260682420
- ISBN-13: 978-1260682427
Entrepreneurship: The Art, Science, and Process for Success, emphasizes three core tenets necessary to start an entrepreneurial venture:
The Art of turning an entrepreneurial venture into a success.
The Science of practice as the heart of starting and running a successful entrepreneurial venture.
The Process that tie these two areas together into a coherent and organized business.
With its adaptive learning tools, students learn the art, science, and process of designing, starting, and managing a small business. Through its real-world approach, students are placed in the roles of a financial analyst, marketer, and business owners, and think critically to develop their plan to survive in the ever-changing business world. Rather than have a chapter on designing a building a plan, the authors built the entire book around it so that at the end of the course the students will have crafted their own business plans.
Table of Contents:
Cover page
Title page
Copyright page
Dedication
About The Authors
Brief Table of Contents
Preface
Acknowledgments
Key Text Features
Connect
Connect Instructor Library
Course Design and Delivery
Table of Contents
PART 1: Laying the Groundwork for Your Business
Chapter 1. THE TWENTY-FIRST-CENTURY ENTREPRENEUR
Why Start a Business?
A Brief History of Entrepreneurial Businesses in the United States
Who Are Entrepreneurial Business Owners Today?
How Does Society Benefit?
Entrepreneurship Around the World
What Is an Entrepreneurial Business?
Summary
Key Terms
Review Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 2. INDIVIDUAL LEADERSHIP AND ENTREPRENEURIAL START-UPS
Founders Are the Reason Why Entrepreneurial Businesses Work So Well
Evaluating Your Entrepreneurial Orientation
Triggers for Starting a Business
Supports
Form a Business Doing What You Like
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 3. BUSINESS IDEA GENERATION AND INITIAL EVALUATION
Generating Business Ideas
Opportunity Identification
Choosing a Business
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
PART 2: Due Diligence on the Business Idea
Chapter 4. EXTERNAL ANALYSIS
Defining Your Industry
Defining Your Customers
Developing the Information for the External Analysis of Competitors
Developing a Competitive Map
Additional Issues for External Analysis
Competitive Advantage
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 5. BUSINESS MISSION AND STRATEGY
Mission Statements
Sustainable Competitive Advantage
Step 1: Develop a List of the Business’s Assets and Capabilities
Step 2: Split the List into Standard Expectations and Potential Competitive Advantages
Step 3: Evaluate the Competitiveness of Unique Resources or Capabilities
Strategy
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
PART 3: Establishing a Financial Foundation
Chapter 6. ANALYZING CASH FLOW AND OTHER FINANCIAL INFORMATION
Importance of Cash Flow Analysis
Developing Cash Flow Statements and Budgets
Other Financial Tools
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 7. FINANCING AND ACCOUNTING
Key Financial Issues Involved with Starting a Business
Basics of Funding a Business
Importance of Proper Accounting When Starting a Business
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 8. BUSINESS and FINANCIAL ANALYSIS
Hypothesis-Driven Analysis
Importance of a Solid Financial Foundation in an Entrepreneurial Business
Techniques for Measuring Performance
Ratio Analysis
Deviation Analysis
Sensitivity Analysis
Use of Short Surveys in Business
Importance of Having a Measurement Focus
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
PART 4: Building the Business
Chapter 9. LEGAL ISSUES WITH A NEW BUSINESS
Various Legal Forms of Business to Determine the Best Design for a Proposed New Business
Basics of Contracts
Role of Leases in the Legal Formation of the New Business
How Laws, Rules, and Regulations Benefit New Businesses
Importance of Copyrights, Trademarks, and Patents to a New Business
Role That Insurance Plays in the Risk Portfolio of the New Business
How to Develop an Effective Board of Advisors and Board of Directors
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 10. HUMAN RESOURCES MANAGEMENT
The Elements of Human Resources
The Process of Hiring Employees
The Means for Retaining Employees
The Pertinent Aspects of Employee Performance Management and Termination
Broad Coverage Regulations and Laws
The Unique Aspects of Human Resources Within a Family Business
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 11. MARKETING
Basics of a Marketing Plan
How to Develop a Pricing Model
The Various Types of Promotion Available to a New Business
The Methods for Sales Management
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 12. ESTABLISHING OPERATIONS
The Use of a Critical Path Chart
How Location Can Be Used as a Competitive Advantage
Important Issues in the Financing Considerations of New Firms
Various Methods with Which a New Firm Establishes Legitimacy in the Market
The Importance of Production Management in Start-Up Ventures
How Production Charting Is Accomplished
The Importance of Quality as a Competitive Tool
The Type and Condition of Equipment Needed at Start-Up
How Timing Is a Competitive Advantage
Issues Related to Time Management in Starting a New Business
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
PART 5: Important Issues for Entrepreneurs
Chapter 13. EXIT/HARVEST/TURNAROUND
Need for Developing an Exit or Harvest Plan and the Ideal Timing for That Plan
Steps for Selling a Business
Turnaround and Business in Decline
Implications and Issues Involved in Closing a Business
Summary
Key Terms
Review Questions
Business Plan Development Questions
Individual Exercises
Group Exercises
Endnotes
Chapter 14. FRANCHISING AND PURCHASING AN EXISTING BUSINESS
The Elements of Franchising
The Process of Buying a Franchise
The Process for Buying an Existing Business
Summary
Key Terms
Review Questions
Individual Exercises
Group Exercises
Endnotes
PART 6: MiniCases
Appendix
Glossary
Case Index
Subject Index
Dr. Chuck Bamford is the Managing Partner at Bamford Associates, LLC, a Strategy Consulting Firm focused on the DESIGN and IMPLEMENTATION of a compelling set of competitive advantages.
From VC-backed firms to Fortune 100 companies, he has been able to focus the efforts of employees on the real strategy of the organization and dramatically increase returns. Not-for-Profit organizations have implemented his approach and have been able to increase donations dramatically.
Dr. Bamford led both M&A and corporate training groups for twelve years prior to pursuing his Pd.D. He is the author of The Strategy Mindset as well as two of the market leading Strategy and Entrepreneurship textbooks used in both undergraduate and graduate programs around the world.
Chuck is a regular speaker at conferences, trade shows, corporate events & conventions. He is also the author of the fiction novel Some Things are Never Forgiven.
Chuck has published 18 research articles in the top referred academic journals in the fields of Strategy and Entrepreneurship.
He is an adjunct Professor of Strategy at the University of Notre Dame and Duke University. He has taught at Universities in Scotland, Hungary, and the Czech Republic. He has been a Professor at the University of Notre Dame, Duke University, Queens University of Charlotte, University of Richmond, Texas Christian University, and Tulane University. Over the past 20+ years he has been honored with 21 teaching excellence awards including 12 Executive MBA Professor of the Year Awards and is a Noble Foundation Fellow in Teaching Excellence.
Chuck earned his B.S. degree at the University of Virginia (McIntire School of Commerce), an MBA at Virginia Tech (Finance) and a Ph.D. in Strategy & Entrepreneurship at the University of Tennessee.
Garry D. Bruton is a professor of entrepreneurship and strategy at the M. J. Neeley School of Business at Texas Christian University in Fort Worth, Texas. He received his BA with Honors from the University of Oklahoma, MBA from George Washington University, and PhD from Oklahoma State University. Garry worked as a bank economist for one of the leading commercial banks in the southwest United States prior to pursuing his doctorate. Dr. Bruton has published or has forthcoming over 100 academic arti¬cles in some of the leading academic publications. Garry currently is an Associate Edition of the Strategic Entrepreneurship Journal. He is also the past president of the Asia Academy of Management. His research interests focus on entrepreneurship and strategy in emerging economies. Garry has won a variety of teaching and research awards at each of the schools with which he has been associated. In addition, he has advised a number of MBA teams that have participated and placed in regional and national competitions for business plans and case analysis
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