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Small Business Management in the 21st Century

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business management assignment pdf

David Cadden, Quinnipiac University

Sandra L. Lueder, Southern Connecticut State University

Copyright Year: 2012

ISBN 13: 9781453345566

Publisher: Saylor Foundation

Language: English

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business management assignment pdf

Reviewed by Michael Grimshaw, Lecturer/Non-Tenure Track Faculty, California State University, Dominguez Hills on 12/4/22

Even though this text is now 10 years old (2012) many of the areas and ideas for small business are still relevant for some small medium enterprises. They are not for the current trend towards non-brick/mortar and on-line methods of doing small... read more

Comprehensiveness rating: 3 see less

Even though this text is now 10 years old (2012) many of the areas and ideas for small business are still relevant for some small medium enterprises. They are not for the current trend towards non-brick/mortar and on-line methods of doing small business although Chapter 4 is designed to address the areas of E-Business and E-Commerce that were relevant 10 years ago, This book does not contain an index or glossary but does have a table of contents.

Content Accuracy rating: 2

I have used this text for several years and the accuracy and error-free aspects are in need of repair due to age. Most of the links and references are no longer available on the internet but none the less students do learn from the discussions and basics illustrated in the writings.

Relevance/Longevity rating: 4

This text would be terrific if someone would take the time to update the references and links so the material presented would be better understood by the students and not be frustrating to them. The way were overcame this to some degree was by having the students do research and locate more current links and examples to replace the ones that did not work. My students were able to gain a good level of understanding on how small businesses are built and operated with the materials and use of supplemental information.

Clarity rating: 4

My students felt that there was a minimum of extraneous information and the text even though fairly basic was easy to navigate and complete assignments related to the text. The ability to search and locate information was helpful.

Consistency rating: 4

There were not any issues we could find with consistency and most of the terminology was still relevant with some exceptions due to changes in business over the past 10 years.

Modularity rating: 4

The modularity for students was through a easily navigable table of contents to drill down to the sections within the chapters by simply using the link/headings. Cut and paste was available to take out sections that might be used for focusing and student interactions.

Organization/Structure/Flow rating: 5

This headings and structure were very easily understood and quite logical in helping students go from a macro view to focusing on specific topics to gain a better understand and clarity of the subject.

Interface rating: 4

The text was easily navigated through the ever present return to table of contents and hot links for all chapters and sub headings. Images and charts were clear even though not very creative. The main distraction was the links in the chapters to videos, online references, etc. were for the most part not functional or available anymore due to age.

Grammatical Errors rating: 2

When I ran Grammarly over several sections of the text there were numerous basic issues - spelling, periods, spaces, verb forms and article usage. Nothing that made the text unreadable.

Cultural Relevance rating: 4

This was a business text and neither my students nor I detected any cultural issues.

This is more of plea than comment for an update to this text or additional small business management texts be listed OER...small business is the heartbeat of business in America (and around the world) so this subject is taught in many schools and it would be terrific to have the authors update the text!

Reviewed by Joe Messer, Professor of Entrepreneurship, Manchester University on 6/22/22

The book covered a lot of topics. However it was too overwhelming, too all encompassing. It was difficult to find a 'flow' read more

Comprehensiveness rating: 4 see less

The book covered a lot of topics. However it was too overwhelming, too all encompassing. It was difficult to find a 'flow'

Content Accuracy rating: 5

I had no problem with any of the information I read.

Relevance/Longevity rating: 3

I did not like that it started out with a lot of personal comments.

Clarity rating: 2

Needs more visuals

Consistency rating: 3

The language of the book was consistent all the way through.

Modularity rating: 3

Nothing special

Organization/Structure/Flow rating: 4

The book was organized well. The chapters made sense. There was just so much content too much of it was opinion based.

Interface rating: 2

There needed to be more visuals, graphs, etc.

Grammatical Errors rating: 4

I saw no errors

Cultural Relevance rating: 3

I did not notice any bias

I could not find instructor material like exams, lecture notes, etc. That would have been nice to see.

Reviewed by Chien-Chi Tseng, Collegiate Associate Professor, Virginia Tech on 12/29/21

This book provides comprehensive content on small business management. I especially like the chapter contents of marketing basics, strategy, and plan. The information provided in the book is not new ( 2011 and older). I suggest the authors update... read more

This book provides comprehensive content on small business management. I especially like the chapter contents of marketing basics, strategy, and plan. The information provided in the book is not new ( 2011 and older). I suggest the authors update the information and provide some new content of new technology-related business management strategy and development.

Content Accuracy rating: 4

The book has accurate content for small business management, however, some contents are for general businesses but not specifically for small management. For example, the chapter on Accounting and Cash Flow.

Relevance/Longevity rating: 5

Yes, the book provides relevant small business management and development content for sure.

Clarity rating: 3

Overall, the text written is lucid, however, many of the video and web links in the book do not work. I strongly suggest authors update the links in this book.

Consistency rating: 5

The text is internally consistent in terms of terminology and framework. I especially like the content of The Three Threads in each chapter. The three threads which summarize the implications of customer value, cash-flow, and digital technology and E-environment are very helpful for students to highlight their learning objectives.

The arrangement of the chapters and ideas covered does have a logical flow and the text can easily be divided into smaller sections at different times within the course. The chapters could be rearranged if necessary for a class. I would suggest adding some more figures and tables for better presentation.

The chapter organization and structure are clear and easy to follow.

Interface rating: 3

As I mentioned in the other comment sections, the authors should check and update the video and web clip linkages. More figures and charts added should be helpful for the readers.

Grammatical Errors rating: 5

I did not notice any grammatical errors in the text.

This book does not seem to be culturally insensitive or offensive, however, as mentioned earlier the videos and web links are somewhat dated and the points could benefit from more updated and relevant examples.

After reviewing Small Business Management in the 21st Century by David Cadden and Sandra Lueder, I think the text covered all the main points of traditional small business topics and the steps of a small business, which has to consider. The book makes a great starting point for discussing all the main concepts of small business management and development strategy. Still, the authors could improve the book with newer, more relevant examples/case studies and videos and other new technology management and innovation enhanced materials.

Reviewed by Shouhong Wang, Professor, University of Massachusetts Dartmouth on 5/22/21

The book has 15 chapters and covers all important aspects of small business management which small business owners and managers must understand. The materials are comprehensive and understandable. read more

Comprehensiveness rating: 5 see less

The book has 15 chapters and covers all important aspects of small business management which small business owners and managers must understand. The materials are comprehensive and understandable.

The contents are unbiased and correct.

The book was published in 2012, but the concepts are still valid and relevant today. Although some materials and references could be undated, minor revisions could be done easily to make an updated version as a textbook for small business majors at four-year colleges or universities.

Clarity rating: 5

The 15 chapters provide excellent context of small business management in all major disciplines of business, including accounting, finance, human resources and organization, supply chain, information technology, and business laws.

The book uses consistent terminology and framework. Each chapter has clear learning objectives and 3-Thread summaries.

Modularity rating: 5

The 15 chapters have excellent modules and are easy to re-organized to meeting individual instructor's needs.

The organization of the book is fairly clear. A table of contents could be included at the beginning of the book. Sections, especially sub-sections could be numbered clearly to show the hierarchy of structure of the chapter.

The layout and fonts could be improved a bit.

The text is well written.

Cultural Relevance rating: 5

The book is small business friendly, and fits the small business culture.

1. The lists of references could be aggregated and are placed after each chapter with smaller fonts to reduce the volume of the book. 2. The two chapters for Marketing could be merged into one chapter. 3. The chapter of E-Commerce and E-Business could be expanded into a chapter about IT for small business which could include e-commerce/e-business, use of social media, business analytics, decision support systems for small business.

Reviewed by Wei Chen, Associate Professor, University of Mary Washington on 5/30/20

The book covers all traditional topics of entrepreneurship such as value creation, family business, business plan, marketing strategy, accounting, financing, and organization. I found it especially valuable today that the book also has chapters on... read more

The book covers all traditional topics of entrepreneurship such as value creation, family business, business plan, marketing strategy, accounting, financing, and organization. I found it especially valuable today that the book also has chapters on E-business and international business, which are increasingly common venues for entrepreneurial small businesses. As a result, I think the book provides aspiring entrepreneurs with what they need to know in order to start, operate, expand, or close a business in today's world.

The content seems unbiased to me. The book includes necessary topics and wisdoms in entrepreneurship that have been in practice in real businesses.

The content is up-to-date and the ideas and knowledge will not quickly become obsolete. Every chapter begins with a case that is relatively recent. Necessary updates to the cases or replacement of them will be relatively easy to implement.

The text is written in clear language. Business and entrepreneurship terminologies are highlighted in the text and immediately defined for easy understanding.

I think the text is internally consistent in terms of terminology and theory framework. Concepts and methods such as breakeven analysis are repeated a few times in different chapters, which actually is good for understanding and for students to practice these methods with some repetition.

The text is divided into easy-to-read subsections. There are always subheadings and bold-typed emphases of key terms, which made the reading easy to follow. The text summarizes some of the comparisons of key concepts into tables, which makes the content clear and easy to understand at a glance.

The author organizes the topics in a logical manner that follows the natural steps when preparing for a business startup.

The text is smooth to navigate in general. The only problem I encountered was that video clips on the online version do not open after I click on the links. I'm not sure if this is a problem with my computer only.

I did not find grammatical errors in the text.

I did not find the text culturally insensitive or offensive. It objectively evaluates the benefits of outsourcing and international expansion for small businesses.

This is a very good cost-free open-source textbook to replace a traditional entrepreneurship textbook with for an undergraduate entrepreneurship class. It not only covers all the topics in entrepreneurship in a clear manner, but it also has great examples and exercises after each chapter. I'm going to adopt this textbook for my entrepreneurship class next semester.

Table of Contents

  • Chapter 1: Foundations for Small Business
  • Chapter 2: Your Business Idea: The Quest for Value
  • Chapter 3: Family Businesses
  • Chapter 4: E-Business and E-Commerce
  • Chapter 5: The Business Plan
  • Chapter 6: Marketing Basics
  • Chapter 7: Marketing Strategy
  • Chapter 8: The Marketing Plan
  • Chapter 9: Accounting and Cash Flow
  • Chapter 10: Financial Management
  • Chapter 11: Supply Chain Management: You Better Get It Right
  • Chapter 12: People and Organization
  • Chapter 13: The Search for Efficiency and Effectiveness
  • Chapter 14: Icebergs and Escapes
  • Chapter 15: Going Global: Yes or No?
  • Chapter 16: Appendix: A Sample Business Plan

Ancillary Material

About the book.

Small Business Management in the 21st Century offers a unique perspective and set of capabilities for instructors. The authors designed this book with a “less can be more” approach, and by treating small business management as a practical human activity rather than as an abstract theoretical concept.

The text has a format and structure that will be familiar to you if you use other books on small business management. Yet it brings a fresh perspective by incorporating three distinctive and unique themes and an important new feature (Disaster Watch) which is embedded throughout the entire text. These themes assure that students see the material in an integrated context rather than a stream of separate and distinct topics.

First, the authors incorporate the use of technology and e-business as a way to gain competitive advantage over larger rivals. Technology is omnipresent in today's business world. Small business must use it to its advantage. We provide practical discussions and examples of how a small business can use these technologies without having extensive expertise or expenditures.

Second, they explicitly acknowledge the constant need to examine how decisions affect cash flow by incorporating cash flow impact content in several chapters. As the life blood of all organizations, cash flow implications must be a factor in all business decision-making.

Third, they recognize the need to clearly identify sources of customer value and bring that understanding to every decision. Decisions that do not add to customer value should be seriously reconsidered.

Small Business Management in 21st Century boasts a new feature called Disaster Watch scenarios. Few texts cover, in any detail, some of the major hazards that small business managers face. Disaster Watch scenarios, included in most chapters, cover topics that include financing, bankers, creditors, employees, customers who don't pay, economic downturns, and marketing mistakes.

About the Contributors

David Cadden, Professor Emeritus, Quinnipiac University. Dr. Cadden was born in New York and received his undergraduate degree in engineering from the Brooklyn Polytechnic Institute. He received an M.S. in Management from the same institution. He attended Baruch College, which is part of the City University of New York, where he received his MBA and earned his PhD in Management Planning Systems. Dr. Cadden is the author of many journal articles, book chapters, and proceedings’ publications. For several years he ran a program at Quinnipiac University where students traveled to Nicaragua to assist local small businesses improve their operations. He teaches in the areas of operations and strategy and places special emphasis in these courses on the unique demands of small businesses. Cadden has consulted with several firms including McDonald-Douglas Aircraft and Blue Cross/Blue Shield. Prior to coming to Quinnipiac, Dr. Cadden worked for Hazeltine Corporation, Baruch College, and Fairfield University.

Sandra L. Lueder is an Associate Professor Emeritus, Southern Connecticut State University. She has a PhD in Marketing from the City University of New York (Baruch College), an MBA in Management and Marketing from the University of Connecticut, and a B.A. from the University of Wisconsin in Madison. She has also taught at Sacred Heart University in Fairfield, CT. Her non-education employment includes working in government, small business, and United Engineers and Constructors, a large corporation that is a division of Raytheon. Dr. Lueder has been passionate about small business for more than 25 years. As the proud daughter of a twice-entrepreneur, she has lived the life and has seen the ups and downs of small business ownership. She has taught small business management courses and has integrated the small business perspective into most of the marketing and leadership courses that she teaches. Dr. Lueder has published in the New England Journal of Entrepreneurship and The E-Business Review. She has also made many presentations at academic conferences.

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  3. Small Business Management in the 21st Century

    Table of Contents. Chapter 1: Foundations for Small Business. Chapter 2: Your Business Idea: The Quest for Value. Chapter 3: Family Businesses. Chapter 4: E-Business and E-Commerce. Chapter 5: The Business Plan. Chapter 6: Marketing Basics. Chapter 7: Marketing Strategy. Chapter 8: The Marketing Plan.