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SECTION I THE CHALLENGE OF ENTREPRENEURSHIP Chapter 1 The Foundations of Entrepreneurship The World of the Entrepreneur What Is an Entrepreneur? The Benefits of Entrepreneurship The Potential Drawbacks of Entrepreneurship Behind the Boom: What's Feeding the Entrepreneurial Fire? The Cultural Diversity of Entrepreneurship The Power of "Small" Business The 10 Deadly Mistakes of Entrepreneurship Putting Failure into Perspective How to Avoid the Pitfalls Chapter Summary Discussion Questions Beyond the Classroom Chapter 2 Inside the Entrepreneurial Mind: From Ideas to Reality Creativity, Innovation, and Entrepreneurship Creativity-A Necessity for Survival Creative Thinking Barriers to Creativity How to Enhance Creativity The Creative Process Techniques for Improving the Creative Process Protecting Your Ideas Chapter Summary Discussion Questions Beyond the Classroom SECTION II BUILDING THE BUSINESS PLAN: BEGINNING CONSIDERATIONS Chapter 3 Strategic Management and the Entrepreneur Building a Competitive Advantage The Strategic Management Process Conclusion Chapter Summary Discussion Questions Beyond the Classroom Chapter 4 Forms of Business Ownership and Franchising The Sole Proprietorship The Partnership Corporations Other Forms of Ownership Franchising Types of Franchising The Benefits of Buying a Franchise The Drawbacks of Buying a Franchise Franchising and the Law The Right Way to Buy a Franchise Trends Shaping Franchising Conclusion Chapter Summary Discussion Questions Beyond the Classroom Appendix A Chapter 5 Buying an Existing Business Buying an Existing Business The Steps in Acquiring a Business Evaluating an Existing Business-The Due Diligence Process Methods for Determining the Value of a Business Understanding the Seller's Side Negotiating the Deal Chapter Summary Discussion Questions Beyond the Classroom SECTION III BUILDING THE BUSINESS PLAN: MARKETING CONSIDERATIONS Chapter 6 Building a Powerful Marketing Plan Building a Guerrilla Marketing Plan Pinpointing the Target Market Determining Customer Needs and Wants Through Market Research Plotting a Guerrilla Marketing Strategy: How to Build a Competitive Edge Marketing on the World Wide Web The Marketing Mix Chapter Summary Discussion Questions Beyond the Classroon Chapter 7 E-Commerce and the Entrepreneur Benefits of Selling on the Web Factors to Consider Before Launching into E-Commerce 12 Myths of E-Commerce Approaches to E-Commerce Strategies for E-Success Designing a Killer Web Site Tracking Web Results Ensuring Web Privacy and Security Chapter Summary Discussion Questions Beyond the Classroom Chapter 8 Integrated Marketing Communications and Pricing Strategies The Basics of a Marketing Communications Plan The Operational Elements of a Marketing Commumcatlons Plan Selecting Advertising Media Preparing an Advertising Budg Advertise Big on a Small Budget Pricing: A Creative Blend of Art and Science Pricing Strategies and Tactics Pricing Strategies and Methods for Retailers Pricing Concepts for Manufacturers Pricing Strategies and Methods for Service Firms The Impact of Credit on Pricing Chapter Summary Discussion Questions Beyond the Classroom SECTION IV BUILDING THE BUSINESS PLAN: FINANCIAL CONSIDERATIONS Chapter 9 Managing Cash Flow Cash Management Cash and Profits Are Not the Same The Cash Budget Preparing a Cash Budget The "Big Three" of Cash Management Avoiding the Cash Crunch Conclusion Chapter Summary Discussion Questions Beyond the Classroom Chapter 10 Creating a Successful Financial Plan Basic Financial Statements Creating Projected Financial Statements Ratio Analysis Interpreting Business Ratios Break-Even Analysis Chapter Summary Discussion Questions Beyond the Classroom Chapter 11 Crafting a Winning Business Plan Why Develop a Business Plan? The Elements of a Business Plan Making the Business Plan Presentation What Lenders and Investors Look for in a Business Plan Conclusion Business Plan Format Chapter Summary Discussion Questions Beyond the Classroom SECTION V PUTTING THE BUSINESS PLAN TO WORK: BUILDING A COMPETITIVE EDGE Chapter 12 Sources of Financing: Debt and Equity Planning for Capital Needs Equity Capital Versus Debt Capital Sources of Equity Financing The Nature of Debt Financing c1ldcral ly Sponsored Programs Small Business Administration (SBA) Stale andl Local Loan Development Programs Intelrnal Methods of Financing Chapter Summary Discussion Questions Beyond the Classroom Chapter 13 Choosing the Right Location and Layout Location: A Source of Competitive Advantage Location Criteria for Retail and Service Businesses Location Options for Retail and Service Businesses The Location Decision for Manufacturers Layout and Design Considerations Layout: Maximizing Revenues, Increasing Efficiency, and Reducing Costs Build, Buy, or Lease? Chapter Summary Discussion Questions Beyond the Classroom Chapter 14 Global Aspects of Entrepreneurship Why Go Global? 464 Strategies for Going Global 466 Exporting BalTiers to International Trade International Trade Agreements Conclusion Chapter Summary Discussion Questions Beyond the Classroom Chapter 15 Leading the Growing Company and Planning for Management Succession Leadership in the New Economy Hiring the Right Employees Building the Right Organizational Culture and Structure The Challenge of Motivating Workers Management Succession: Passing the Torch of Leadership Chapter Summary Discussion Questions Beyond the ClassroomLibrary of Congress Subject Headings for this publication: Small business Management, New business enterprises Management