Page 9 - Introduction to Business

CONTENTS vii

3 What Is the Role of Small Business Firms? 129
Creative Destruction 129
Business Governance, Invention and Innovation 130
Ethics, and Social Job Opportunities 132
Responsibility 94 Globalization 132
Global Business Global Small Business and Information
Introduction 95 Technology Products 133
Technology and Business E-mail, AT&T, and Jack Government Support of Small Business 134
Grubman 96 Who Is an Entrepreneur? 135
Business Governance Structures 97 Personal Qualities 135
Sole Proprietorships 97 Education and Training 136
Partnerships 98 Women in Small Business 137
Corporations 98 Ethnic and Immigrant Small Business 138
Shareholder Model of Business Governance 102 Developing a Business Plan 139
Separation of Ownership and Control and Potential Essential Components 139
Conflicts of Interest 103 Business Ideas 140
Addressing Separation of Ownership and Control- Seed Money 141
Related Conflicts of Interest 106 Initial Production and Sales 142
Stakeholder Model of Business Governance 112 Creating Value 142
Business and Local Communities 112 Forms of Small Business Organizations 142
Creditors 114 Sole Proprietorships and Partnerships 142
Suppliers 114 Corporations and Franchises 143
Distributors 114 Case in Point Franchising: A Way for Small Business and
Customers 115 Large Business to Work Together 145
Employees 115
Small Business Management Decisions 147
Case in Point The Supervisory Board at Hiring Employees 147
DaimlerChrysler 116 Ethics in Entrepreneurship 148
Shareholders 116 Running a Family Business 149
Societal Responsibility Model of Business Governance Going Public Versus Staying Private 150
116 Controlling Business Risks 151
Business Ethics 117 Careers in Small Business 154
Defining Business Ethics 117 Summary 155 Chapter Questions 156 Interpreting
Business Codes of Ethics 119 Business News 156 Web Assignments 157 Portfolio
Dealing with Business Ethical Breaches 119 Projects 157 Test Prepper 158
Penalties for Business Ethical Breaches 119
Business Ethics Training 120
Business Ethics on Campus 120
Part Two
Careers in Business Governance, Ethics, and Social
Responsibility 120 Managing Business
Summary 121 Chapter Questions 122 Interpreting Behavior 161
Business News 123 Web Assignments 123 Portfolio
Projects 124 Test Prepper 125

4 5

Small Business and Managing and
Entrepreneurship 127 Organizing Business 162

Introduction 128 Introduction 163
What Is a Small Business? 128 Understanding Management 163

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