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Corinna M. Lindow substantiates, develops, and tests a strategic fit perspective on family firm performance in order to contribute to explaining previous inconclusive findings. In particular, she aims at investigating whether strategic fit determines family firm performance and what role family influence plays. Based on a sample of German family firms, the author indicates that, against expectations, family firms' performance is not driven by strategic fit but through the effective use of family-specific factors such as family business governance and family culture. Further, the results suggest that family influence has important implications for strategy, organizational structure, and the achievement of strategic fit.
This series examines issues and economic matters particular to small businesses. The term Small Enterprise (or Small Organisation) is sometimes used for this same category of business or organisation. A small enterprise/organisation may also be a nonprofit organisation. This volume covers several topics including small business management and technical assistance training programs; federal broadband deployment programs and small business; women-owned small business programs; and cosponsored activities that can benefit small businesses but lack a consistent feedback mechanism.
This monograph considers issues that are central to our understanding of self-employment in the UK. The author begins with a review on the evidence of the role of self employment and entrepreneurship in employment creation. The discussion then moves on to consider self-employment as a route for advancement of many groups in society that face disadvantage in the labour market. The author concludes by considering the role of government in this relationship.
This book provides a framework for understanding micro, small and medium sized enterprises (MSMEs) as important contributors to economic growth. By examining the economic and investment decisions behind these businesses, the author shows how managers of MSMEs can add value to the firm by applying managerial finance tools. Early chapters establish the basic tenets of new venture development and financing and explore the economic environment that business-owners inhabit, focusing on venture capital, microfinance intervention, and public sector interventions. Later chapters guide the reader through the process of financial planning and forecasting, and valuation, finishing with insights into how to harvest investments and make sound financial decisions. The book has interdisciplinary appeal and offers a timely consideration of MSMEs in developing economies. It will be valuable reading for all interested in the management and development of small businesses, the finance of entrepreneurship and policy affecting small and medium sized enterprises.
The sixth edition of Manage Finances and Develop Financial Plans shows you how to control financial results effectively in a small business. To do this, you need to keep relevant records, report operating results, and plan financial performance. This book is divided into three parts: Part A - Manage Finances: Financial Records investigates simple financial records and record-keeping procedures and legal requirements for records. Part B - Manage Finances: Financial Reports examines preparing and analysing simple financial reports including income statements, cash flow statements and balance sheets. A business's tax obligations are also addressed. Part C - Develop Financial Plans examines profit planning, capital expenditure, budgeting, cash flow management and financing decisions. There is also a glossary at the end of the book of key record-keeping and financial terms, and a comprehensive index. Each chapter has exercises within the text, a list of key terms, and a multiple-choice quiz. There are also assessment activities at the end of key chapters. The answers to the quizzes can be found at the end of the book. After reading this book, you should be able to record, report and plan financial performance to successfully run a small business.
This book analyzes various business exit strategies for both family-owned businesses as well as other businesses, both in the United States and throughout the world. Approximately 80% to 90% of all businesses in the world are family-owned. The book discusses, among other things, 12 common mistakes in attempting to sell a business to third parties, methods of marketing the business, negotiation of key sale terms, negotiating employment and consulting agreements, avoiding traps in sale agreements, creating a professional advisory team, and alternatives to a sale to an unrelated third party, such as ESOPs, leverage recapitalizations, selling to other family members or key employees, and going public transactions.
Like many business owners, Susan-Urquart Brown never expected to end up as an entrepreneur. Launching her own business spoke to her passions, but she soon realized there was much more to being a successful business owner than she ever expected. As a seasoned businesswoman, she has spent more than 10 years building her business from the ground up. In "The Accidental Entrepreneur", she takes all the mystery out of going solo. For those who are just beginning to consider starting a business, as well as those who want to take their business to the next level, she offers advice on what works and what doesn't. Starting one's own business should be exciting, not scary. This is the one book that will show readers how to create a successful and fulfilling venture they can be proud of.
This book drives the reader safely past the many pitfalls which lie in front of those who start with high hopes. Rodney Willett shows how business is about integrity, thought, humour, despair, exultation and self-discipline. It's not just a matter of sales and financial control. It's about people -- customers, suppliers, employees and more.
Discover the secrets of some of the world’s biggest and leading shops
and online retailers and get a competitive edge. Covering everything
from creating the ultimate retail experience to understanding the
customer and the importance of motivated shop floor workers, this is
the book that will guide you, your managers, team-workers, and anybody
working in or learning about retail to success and profits.
Marketing your small business just got easier It's been said that the most important area for any business to focus on is its marketing. Of course, there are areas like finance, customer service, and the product or service itself which are key, but without good marketing approaches, there's no revenue for your account systems to do their job, there's no customer to serve and the product or service becomes redundant. Most business owners are experts in what they do and so they should be. What they also have to be good at is marketing what they do. And if you feel there's more you could be doing on the marketing front, then this book will give you those ideas. As a small business owner you get involved in all aspects of your business and marketing is such a large field, you can't be expected to learn everything you need in one day. So to break down this behemoth of a topic, we'll approach it a bite at a time. You have in your hands a tool that will guide you through what's needed day by day over the period of a week. That way you're not trying to eat the elephant all at once. The unpredictable nature of marketing your business will start to disappear, as you move through the necessary steps needed to make your marketing efforts more effective than ever before. Some of the ideas you may already be implementing, while others may well be new to you. Either way, putting them together into a proven system will enable you and your business to thrive, regardless of the economic climate you find yourself in. You're about to learn, in a week, how you can have a marketing system that enables you to attract, win and keep more customers and, as a result, build your sales and your profitability. - Sunday: Preparing the ground - Monday: Attracting the right type of customers - Tuesday: Keeping your customers longer - Wednesday: Increasing customer loyalty and purchasing frequency - Thursday: Increasing the value of your sales - Friday: Getting new clients and better clients, faster - Saturday: Measuring and managing your marketing activities
This book explores challenges and approaches to the development, financial management and growth of Eastern European organizations, both public and private. Including papers derived from the 2015 Griffiths School of Management Annual Conference on Business, Entrepreneurship and Ethics (GSMAC), organized by Emanuel University of Oradea, the authors provide a variety of strategies for growth and development in areas such as IT, medical management, marketing, entrepreneurship and family business. Collectively, these contributions provide a problem-solving framework that tackles such questions as: How are the growth and financial models of organizations changing? How should leadership in organizations adapt in order to ensure sustainable growth? How should educational concepts and methods be improved to help the next generation in the new global business environment? The rapid evolution of technology and innovation has changed the face of the business environment. With new actors in the global marketplace and new means of production, marketing and finance, businesses-particularly those in emerging regions, such as Eastern Europe-are faced with the pressure to rethink their structures and models from within. In this new economic climate, common issues such as corruption, risk, and customer satisfaction need to be examined from a globalized perspective. The goal of the 2015 GSMAC conference and the resulting papers is to help organizations and institutions in Eastern Europe and other developing regions formulate strategies and policies to thrive in this environment and promote sustainable management practices.
All organisations have a responsibility to ensure they have a minimum negative impact on the environment and act as a haven for human development that contributes to positive outcomes for society. But small businesses have limited resources with which to pursue sustainability initiatives and must focus on their core objectives in order to survive. Through an in-depth exploration of quality management theory, this book proposes a "Sustainability Management Framework" as a structure for a balanced approach to developing operations strategy for corporate social responsibility (CSR). Management Systems and Performance Frameworks for Sustainability explores the frameworks, accreditations and awards that small to medium sized enterprises (SMEs) can utilise to enhance their performance. In the first half of the book, the author demonstrates how complementary techniques such as the Sustainability Performance Framework can help organisational leaders to develop, implement and optimise business strategy into discrete activities of value setting, management system and performance model selection, and target setting and evaluation, to the tactical deployment of sustainability and CSR. Meanwhile, the second half of the book focuses on real SME case studies to illustrate the use of the Sustainability Strategic Growth Model, Sustainability Management Framework and Sustainability Performance Framework to align strategy and policies with compliance obligations, United Nations Sustainable Development Goals and Millennium Development Goals. This key book is vital reading for undergraduate and postgraduate students of quality management, entrepreneurship and sustainability in business, executives of SMEs and sustainability policymakers.
You are about to embark on one of the biggest adventures of your life. It's a daunting prospect, isn't it? An empty desk, no customers, no confirmed money coming in, and no one to gossip with. Welcome to running your own business. Every issue is now yours to wrestle with, and yours alone. But then so is all the satisfaction when things go well, whether that is mental or financial. This book expertly guides you through the principles of running and growing a successful business - including what to do when it's not going exactly as you wish. Crammed with practical advice - from assessing pros and cons to motivating yourself and adopting effective practices - it will help you find clear, practical solutions and prove invaluable as you tackle this great adventure.
This new book systematically examines the current process for distressed Micro, Small and Medium Enterprises (MSMEs), and proposes a different, more appropriate, 'modular' approach to the treatment of such entities when faced with insolvency proceedings. MSMEs play a vital role in virtually all global economies. They are a primary means by which entrepreneurs bring new business propositions to the market, and deliver a range of products and services to local economies. MSMEs tend to be more reliant on favourable legal and regulatory climates to survive and thrive than larger businesses, and insolvency regimes are often more tailored to these larger businesses, assuming an extensive insolvency estate of significant worth, and the presence of creditors and other concerned stakeholders to participate in and oversee the process. These assumptions and features are generally incongruous with the reality of MSMEs, for whom assets are of less value and whose stakeholders are generally more disinterested. The modular approach proposed in this book addresses the imbalances, inconsistencies, and lack of supervision which is often apparent in treatment of insolvent MSMEs. It provides an overview of existing approaches to MSME insolvency, the place of MSMEs in the global economy, and the particular needs of MSMEs in financial distress. It then sets out the procedural framework, policy objectives, and key components of the modular approach, detailing how a choice of modules enables national policy-makers a more flexible process for resolution. It then outlines the roles, positions, and obligations of key stakeholder groups, and explains the managerial, administrative, and judicial functions of this approach. Finally, it explains how elements of the broader legal system should be aligned with, and supportive of, the optimal functioning of the modular approach.
In The Automatic Customer, John Warrillow provides the essential blueprint for turning your customers into subscribers The lifeblood of your business is repeat customers. But customers can be fickle, markets shift and competitors are ruthless. So how do you ensure a steady flow of business? The secret - no matter what industry you're in - is finding and keeping automatic customers. These days virtually anything you need can come through a subscription. Far beyond Spotify and Netflix, companies in nearly any industry, from home contractors to florists, can build subscriptions into their business. Subscription is the key to increasing cash flow, igniting growth and boosting the value of your company. Whether you want to transform your entire business into a recurring revenue engine or just pick up an extra 5 per cent of sales growth, The Automatic Customer will be your secret weapon. 'Read, apply and watch your bank deposits grow every month' Chris Guillebeau, bestselling author of The $100 Startup 'If you have a business, or are thinking about starting one, this book will be the best investment you've ever made' Bo Burlingham, editor-at-large of Inc. and author of Small Giants and Finish Big John Warrillow, the author of Built to Sell, is the founder of The Value Builder System (TM) where advisors help company owners increase the value of their business. Previously, he founded Warrillow & Co., a subscription-based research business dedicated to helping Fortune 500 companies market to small business owners. A sought-after speaker and popular Inc.com columnist, he lives in Toronto.
The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs, disaster loan programs, management and technical assistance training programs, and federal contracting programs. Congressional interest in these programs has increased in recent years, primarily because they are viewed as a means to stimulate economic activity, create jobs, and assist in the national economic recovery. This book examines the economic research on net job creation to identify the types of businesses that appear to create the most jobs.
This book focuses on three key questions and three assumptions, which tackle entrepreneurship and competitiveness through the pillars of young entrepreneurship and innovation in SMEs, always under the lens of the institutional approach. More specifically, the research questions of this study are the following: How do institutions and, in general, institutional processes affect entrepreneurship on the SME level and, hence, competitiveness on the country level, how can the analysis of young entrepreneurship promote our understanding of the overall web of entrepreneurship from an institutional point of view and to what degree do SMEs respond to innovative applications and activities? Moreover, the study takes on the following three research assumptions: The quality of institutions affects the development of entrepreneurship and, hence, a country's competitive position, small- and medium-sized enterprises are affected by the quality of institutions and institutional inefficiency leads to innovation fatigue. The methodology is based on specific data collection techniques that will answer the questions and assumptions of this study by using both qualitative and quantitative approaches.
From the creator of Make It, one of Canada's largest and most successful craft fairs, comes the how-to book to help entrepreneurs turn big ideas into reality. Make It Happen is packed with hard-won insight and inspiration from Jenna Herbut, the founder of Make It. Referring to lessons learned over the course of her entrepreneurial journey, Jenna shares case studies and hot tips from creative, courageous entrepreneurs who also realized their dreams by overcoming fear and resistance. Learn how to make your own dreams come true with invaluable "Make It Real" exercises to help you practice and apply new techniques, skills, and ideas to make it happen. Discover how to: * Tap into your unique passion and let it shine * Think and act to make it happen * Figure out what to do when it's just not happening By the end of Make It Happen you'll be well on your way to becoming part of a breed of brave risk-takers who are willing to put it all on the line to make their vision a reality.
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