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Entrepreneurship and Small Business. 4th Asia Pacific Edition

  • ID: 2616901
  • Book
  • Region: Asia, Asia Pacific
  • 552 Pages
  • John Wiley and Sons Ltd
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Now in its fourth Asia pacific edition, the internationally acclaimed author team of Entrepreneurship and Small Business has revised their market–leading text with a simple pedagogy and a clear purpose.

Starting and running your own enterprise is one of the most rewarding and challenging journeys towards developing a business career. this text provides students with the theoretical and practical knowledge required to successfully own and manage a new, small or growing business venture.

Entrepreneurship and Small Business, 4th Asia pacific edition, is abundant with insightful real–world case studies and opportunities for experiential learning. it provides comprehensive information about small business management and entrepreneurship in Australia, new Zealand, china, india, singapore, Malaysia and hong Kong; providing students with a genuinely international perspective.

The text includes a bolstered section on family business start–ups and integrated coverage of the impact of sustainability and social media. Yet again, the author team has brought to life what successful small business owners actually do, not just what they think or the theoretical concepts behind their strategy.

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Preface xvii

Acknowledgements xviii

PART 1 The nature of small business and entrepreneurship 1

CHAPTER 1 Entrepreneurship: definition and evolution 3

Defining entrepreneurship 4

Entrepreneur profile: Olivia Lum, Hyflux 9

The role of entrepreneurship in economic growth and development 11

Common features of entrepreneurship in the Asia Pacific region 16

CHAPTER 2 Opportunities and entrepreneurs 29

Individuals and opportunities 30

The discovery perspective 30

Understanding the profile of an entrepreneur 35

The risks of a career in entrepreneurship 39

Relevant performance measures 41

Entrepreneurs in a social context 43

CHAPTER 3 Creativity, innovation and entrepreneurship 51

Creativity 52

Innovation 59

Linking creativity, innovation and entrepreneurship 65

From creativity to entrepreneurship: screening opportunities 67

CHAPTER 4 Small business: definitions and characteristics 77

Defining small business 78

Characteristic features of a small business 82

The advantages and disadvantages of operating a small business 86

The economic significance of the small business sector 90

General importance 90

Entrepreneur or small business owner manager? 95

CHAPTER 5 Community contexts of small business 105

Integrating entrepreneurship and society 106

Societal and philanthropic responsibility 107

Environmental responsibility 109

Social entrepreneurship 111

The nature and extent of family business 113

Issues unique to family business 115

PART 2 Getting into business 125

CHAPTER 6 Options for going into business 127

Issues to consider before going into business 128

Starting a new business 130

Purchasing an existing business 134

Entering a franchise system 140

Comparison of options 143

Procedural steps when starting a business venture 143

1. Undertake market research 144

2. Check the statutory requirements 144

3. Access suitable core resources 145

4. Critically evaluate options: buy, start–up or franchise? 145

5. Work out financial projections 145

6. Prepare a business plan 146

CHAPTER 7 Market research and strategy formulation 151

The role of market research 152

Constraints on research 154

Developing a strategy 161

Developing a business model 170

CHAPTER 8 Preparing a business plan 177

The concept of a business plan 178

Elements of a business plan 180

Different types of plans 186

Preparing the document: the business–planning process 189

CHAPTER 9 Legal issues 219

Legal structures 220

Intellectual property 230

Other legal issues 235

CHAPTER 10 Financing business ventures 243

Sources of debt finance 244

Sources of equity finance 247

Other useful categorisations of finance sources 254

Alternative sources of finance 259

CHAPTER 11 Accessing business advice and assistance 267

The business adviser 268

Forms of support for new and small firms 280

PART 3 Managing key functions 289

CHAPTER 12 Marketing 291

The concept of marketing 292

An overview of the marketing process 293

The marketing mix 295

CHAPTER 13 Operations management 317

Operations as a management process 318

Physical site factors 319

Production processes 323

Service design 323

Evaluating, improving and securing operational activities 330

Procedural systems and quality assurance 334

Risk management 335

CHAPTER 14 Human resource issues in new and small firms 343

Concept and functions of human resource management 344

HRM as a business strategy 345

Acquisition of staff 346

Maintenance 354

Termination 358

Governmental and regulatory requirements 359

Self–employment and human resources 361

Differences in employment practices between large and small firms 362

HRM variations across the Asia Pacific region 363

CHAPTER 15 Financial information and management 369

The purpose of financial information 370

Differences between small and large firms 372

Regional variations in financial management 373

Types of financial information 374

Analysing financial data 382

Keeping records of financial information 385

PART 4 Selected topics 399

CHAPTER 16 ICT as a business tool 401

The role and importance of ICT for SMEs 403

Information systems for SMEs 405

Implementing an ICT strategy 409

Attracting visitors to a website 416

CHAPTER 17 Managing growth and transition 427

The dimensions of business growth 428

Theorising about small business growth 431

Growth predictors 434

Growth strategies and growth enablers 435

From the entrepreneur to the manager 440

Harvesting 443

CHAPTER 18 Corporate entrepreneurship 453

Dimensions of and rationale for corporate entrepreneurship 454

The new venture development process 460

The key steps in developing entrepreneurial spirit 465

Glossary 480


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Michael Schaper (BA, MComm, PhD) is an adjunct professor at Curtin Business School, Curtin University of Technology, Western Australia, and is also deputy chairman (responsible for small business issues) of the Australian Competition and Consumer Commission. Michael was previously dean of Murdoch Business School, head of the School of Business at Bond University, and held the foundation professorial chair in Entrepreneurship and Small Business at the University of Newcastle, Australia. He has extensive experience in the area of small business through his previous roles, which have included appointments as Small Business Commissioner for the Australian Capital Territory, and as President of the Small Enterprise Association of Australia and New Zealand.
Before his academic career, Michael worked for several years as a professional small business adviser in Australia. In addition, he ran his own business and was involved in numerous other start–up projects. He holds a PhD and a Master of Commerce degree from Curtin University of Technology, as well as a Bachelor of Arts from the University of Western Australia. Michael is the author or co–author of ten books, all in the field of business management, and numerous journal articles, newspaper columns and scholarly research papers.

Thierry Volery is a professor of Entrepreneurship and the Director of the Swiss Institute for Entrepreneurship and Small Business at the University of St Gallen, Switzerland. From September 1999 until 2002, he was a professor of Entrepreneurship at EM Lyon Business School, France. He was previously a senior lecturer in Entrepreneurship and International Business at Curtin University of Technology in Perth, Western Australia.
Thierry has been a visiting professor at the China Europe International Business School (CEIBS) in Shanghai and at the University of Western Australia Business School. He has served on several editorial boards, including the Journal of Small Business Management, the International Small Business Journal, the Journal of Enterprising Culture and the International Journal of Educational Management. He holds a doctorate in business economics and social sciences from the University of Fribourg, Switzerland. His research interests include entrepreneurs behaviours and competencies, entrepreneurship education and training, and innovation in small firms.

Paull Weber is a senior lecturer in Entrepreneurship and Small Business at Curtin University in Western Australia. He hails from a banking background and began his academic career after completing a research Masters in marketing in 2003 and then a PhD in entrepreneurship in 2007. He has taught management and marketing courses in small business management, entrepreneurship, creativity and innovation, marketing communications and marketing principles. His research activities concentrate in the areas of mature entrepreneurship, lifestyle entrepreneurship, small business success metrics, growth perceptions and motives, ethics in small business and tourism.
Paull has contributed several book chapters, journal articles and case studies in the disciplines of entrepreneurship and tourism. He is also the deputy chair of Business Foundations, a highly successful and well–respected business incubator, advisory and training organisation that has assisted many thousands of small business owners over a 20–year period.

Brian Gibson has over 30 years experience in universities, including positions as lecturer and senior lecturer at the University of Newcastle, Director of the Institute of Industrial Economics at the University of Newcastle, associate professor in Accounting at Murdoch University, and professor in Accounting at the University of New England. In addition to his current part–time roles in curriculum development and research with TOP Education, he is currently a conjoint professor in the Newcastle Business School at the University of Newcastle and Director of International Accounting at Rangsit University in Thailand. Prof. Gibson has served on several accrediting committees including the Australian Society of CPAs National Accreditation Sub Committee and has recently been appointed to the TEQSA register of experts in accounting and business. He is also a past President and a Wilford White Fellow of the International Council for Small Business (ICSB) and the immediate past President of the Small Enterprise Association of Australia and New Zealand (SEAANZ). His primary research achievements are in the area of the management (especially financial management, accounting and governance) of small enterprises (privately–held firms). Research outcomes include 28 refereed journal publications, 61 refereed conference presentations, 42 other publications (including papers in books) and presentations, and involvement in research projects with funding of $225 000. He is currently consulting editor of Small Enterprise Research (the journal of SEAANZ) and an editorial board member on several other international journals.

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