Entrepreneurship in Action (2nd Edition)
PrefaceWelcome to the first edition of Entrepreneurship in Action! I'm very excited about bringing you this book. I believe it's unlike any other entrepreneurship textbook available on the market. Why? Because it emphasizes, explains, and celebrates the realities of being an entrepreneur—it shows entrepreneurship in action. I wrote this book because I felt there was a definite need for a book that conveyed the exciting realities of entrepreneurship. Entrepreneurship is such a fascinating topic—why not have a book that brings that excitement to students studying entrepreneurship? How does Entrepreneurship in Action do this? I think my book's unique features do just that and I'd like to describe these features for you.   Chapter-Opening Entrepreneurship in Action CaseEvery chapter opens with a description of a real entrepreneur in action, facing the challenges that entrepreneurs must deal with, and making good and even some not-so-good decisions. The entrepreneurs profiled include Dineh Mohajer of Hard Candy (Chapter 1), Jeff Bezos of Amazon (Chapter 2), Brenda Laurel of Purple Moon (Chapter 3), Liisa Joronen of SOL Cleaning Service (Chapter 4), Bill Gross of idealab! (Chapter 5), Nicholas Graham of Joe Boxer Company (Chapter 6), John Healy of Vintage Bike magazine and Coventry Spares (Chapter 7), Ted Castle of Rhino Foods (Chapter 8), and William Williams of Glory Foods (Chapter 9). Each case ties in to the chapter material and is referenced at various points throughout the chapter. These fun stories relate the excitement of the entrepreneurial adventure. It certainly is an adventure that you're embarking on!   Entrepreneurs in ActionThis chapter box theme provides examples of entrepreneurs from different types and sizes of entrepreneurial ventures. You'll discover what's involved with being an entrepreneur, and you'll read about different entrepreneurial approaches and philosophies. Again, it's another way to see entrepreneurship in action.   Rapid ReviewI've also used this innovation in my other textbooks (Management by Stephen P Robbins and Mary Coulter; and Strategic Management in Action). In multiple places throughout each chapter, you'll find a box that lists review questions addressing the material that you've just read. These questions will help you review and assess whether you understand the material you've just read. I believe that you'll find this feature to be a convenient and useful way to review and reinforce key chapter information.   FYI (For Your Information)This chapter box theme provides information about a particularly interesting entrepreneurial topic or idea. Some of the FYIs include male versus female entrepreneurs, e-commerce, trend spotting, building a healthy culture, the ABCs of trademarks and patents, speed counts, delegating like a pro, combating sexual harassment, and when success is failure. There are many other interesting and fascinating entrepreneurial topics covered as well.   The Grey ZoneEthical and social responsibility issues challenge entrepreneurs in their entrepreneurial pursuits. This chapter box theme describes some of these issues. You don't just read about the issues; you're also asked to think critically about what you would do in this situation. As you'll find out, there are no easy answers when incomes to these grey zone dilemmas.   Global PerspectivesThis chapter box theme describes entrepreneurs in action, with the focus on global entrepreneurs and entrepreneurship. From a movie theater chain in Mexico to a spice empire in South Africa, you'll discover that entrepreneurship is a global phenomenon.   Sweat EquityYou may have heard the term sweat equity before. It refers to the hard work and effort—the sweat—an entrepreneur puts into an entrepreneurial venture in order to build equity value. This end-of-chapter feature presents five assignments that you must "sweat" to complete. These sweat equity assignments cover a broad spectrum of entrepreneurial topics. Many involve writing brief research papers or researching a topic on the Web. I tried to design these assignments to show you the reality of entrepreneurship—again, entrepreneurship in action.   Entrepreneurship in Action CasesThese Entrepreneurship in Action cases provide descriptions of entrepreneurs and the challenges and issues they're facing. Discussion questions at the end of each case get you "into" the case and ask for your input on the challenges, issues, and dilemmas that are presented. Three of these cases are in every chapter—one is the chapter—opening Entrepreneurship in Action case—and they cover a broad spectrum of entrepreneurial businesses. Some examples of the entrepreneurial ventures described include a wine importer, a manufacturer of foam advertising structures, and a CPA firm. These cases are fun to read and provide another dose of entrepreneurship in action.   Killer Apps AppendixThe Killer Apps Appendix provides some additional information to help you in your journey to being a successful entrepreneur. There are four major parts included in the Appendix. First, some additional information about business plans is provided. Then, a section is devoted to explaining the essentials of the evolution of e-business and the implications of e-business design for entrepreneurial organizations. Next, a section provides an annotated list of entrepreneurship Web sites. Finally, additional cases describe entrepreneurs in action that you can read for your own enjoyment and learning or that your professor may assign you to read and analyze.As you can see by the descriptions of all the unique features in Entrepreneurship in Action, I've tried to provide you as close an experience to what it's like to be an entrepreneur in action, other than actually being one. I truly hope that the excitement and exhilaration of being an entrepreneur comes through and motivates you to pursue the fun, but demanding, journey of becoming one.I need to thank a number of people for their contributions to this book. Without them, Entrepreneurship in Action wouldn't be here. First and foremost, Id like to thank my students, past and present, who always challenge me to think about how I present information to them in class. They have made me a better communicator because I then try to write in such a way that topics and concepts are explained clearly—and, in an interesting and fun fashion! I'd also like to thank my department head, Barry Wisdom, and my college dean, Ron Bottin. Your support and encouragement mean a lot to me. Of course, there are my departmental secretaries, Carole Hale and Anita Looney. You ladies are super to work with. And, Anita, a special "thank you" for all those wonderful figures and tables you created for me! You are truly a word processing wizard!Then, I'd like to recognize the individuals who provided me with intelligent and thorough reviews. They are as follows: Sol Ahiarah, Buffalo State University; Susan J. Fox-Wolfgramm, San Francisco State University; Harriet Stephenson, Seattle University; and Richard L. McCline, San Francisco State University. I sincerely appreciate your insights into my proposed book. I know the final product is better because of your suggestions! Thank you!   Supplements   Instructor's Manual with Test Item FileThe Instructor's Manual contains Learning Objectives, Expanding Chapter Outlines with teaching tips and highlighted text features, and teaching notes to end-of-chapter material for each chapter in the text. Each Test Item File chapter contains true/false, multiple choice, chapter essay, and case essay questions. Together, the questions cover the content of each chapter in a variety of ways providing flexibility in testing the students' knowledge of the text.  Companion Web siteThe Prentice Hall Companion Web site features an interactive and exciting online student study guide. Students can access multiple choice, true/false, and Internet-based essay questions that accompany each chapter in the text. Objective questions are scored online, and incorrect answers are keyed to the text for student review. For more information, contact your local sales representative.  Instructor's Resource CD-ROM containing electronic Instructor's Manual, computerized Win/PH Test Manager, and PowerPoint Electronic TransparenciesContaining all of the questions in the printed Test Item File, Test Manager is a comprehensive suite of tools for testing and assessment. Test Manager allows educators to easily create and distribute tests for their courses, either by printing and distributing through traditional methods, or by online delivery via a Local Area Network (LAN) server. The PowerPoint Electronic Transparencies contain a comprehensive package of text outlines and figures corresponding to the text and are designed to aid the educator and supplement in-class lectures.   AcknowledgmentsI'd also like to thank the wonderful people at Prentice Hall, my publisher. As usual, all of you have been just super to work with! First off, there's my local sales representative, Shawna Ke--This text refers to an out of print or unavailable edition of this title.