South-Western - Management  
Management News

Management News is South-Western's service to provide summaries of the latest management news stories. Review the brief summaries and, for stories of interest, select the full summary.
ENTREPRENEURSHIP
Title  Brief Summary 
Contest Gives Entrepreneurs Tools to Dream
Full Summary
Allen Eubanks has been selected as one of 12 finalists in the Dream Ace contest, which will award an Ace Hardware store valued at $1 million to the winner. Ace came up with the contest after learning that 75% of its customers want to be their own boss but lack the capital to start their own business.
(Updated June 2007)
Mom Entrepreneur Posts Record Growth
Full Summary
Snip-its franchises are becoming more popular across the nation. The children’s salons offer more than just a great cut for kids. They offer a full experience for children and parents that keeps them loyal to the brand in spite of competition.
(Updated March 2007)
Small Business Secrets to Hiring
Full Summary
Small-business owners often feel that they can’t compete with big companies when it comes to recruiting great talent. Yet, by emphasizing responsibility, access to management, and work schedule flexibility, entrepreneurs can also attract and keep good workers.
(Updated October 2006)
Venture Capital: The Good, Bad, and Ugly
Full Summary
Venture capital can be the answer to a start-up business’ prayers or it can be just the beginning of the worst possible nightmare, depending on how the relationship goes. When considering seeking venture capital, entrepreneurs need to be thoroughly aware of the pros and cons venture capital can bring to a business.
(Updated September 2006)
Two Entrepreneurs Persuaded Wal-Mart to Give Their Pen a Tryout-Now the Hard Part
Full Summary
Colin Roche's invention, the ergonomic PenAgain, has been selling at small specialty retailers and in doctor's offices, filling the need for ergonomically-designed writing utensils for people with carpal tunnel or arthritis. He and his business partner have worked hard to manufacture and distribute the pen. But, now that the pen has been accepted for a trial-run at Wal-Mart, the hardest part of getting the business off the ground may have just begun.
(Updated August 2006)
Before You Set Up Shop in China…
Full Summary
Small business owners looking to make a move to China with their business need to be aware of the many challenges facing business owners there before they can be successful. Owners need to do their homework and be prepared to handle the operational and managerial challenges that come with operating a business in this still-developing country.
(Updated February 2006)
Not Your Grandfather’s Pickle
Full Summary
Rick Fields turned his hobby of pickling into a full-time successful business. Along the way, he learned some lessons about what it takes to turn a passion into a viable business.
(Updated January 2006)
Dynamic Duos
Full Summary
Hiring a second-in-command for a small business can be one of the most important decisions that a business owner will make. Many, however, rush into the decision, make it at the wrong time, or fail to spend time assessing what they really need in a business partner. Taking the time to make the right decision when it comes to a deputy can mean the difference between the success and the failure of a business.
(Updated January 2006)
At-Home Enterprises Seek Elbow Room
Full Summary
As the rate of home-based businesses has soared in recent years, many entrepreneurs are finding the need to expand their business from home into professionally leased spaces. The move is usually profitable, but they need to carefully consider all possible expenses.
(Updated December 2005)
The Long Road to Wal-Mart
Full Summary
What does it take for entrepreneurs to break into the nation's largest retailer? More than you can imagine. For PenAgain's founders, it took years.
(Updated October 2005)
Apple Blunder Gives Gates iPod Royalty
Full Summary
Although iPods account for three of every four portable music players in the U.S., an early patent by a Microsoft employee may require Apple to pay hundreds of millions of dollars to rival Microsoft.
(Updated September 2005)
You Have a Great Idea. Now What?
Full Summary
When a good idea for a new business strikes, many entrepreneurs are anxious to jump in and make their dream a reality. However, the experts say that spending some time researching and planning before getting a new product or service started can save time, money, and heartbreak.
(Updated June 2005)
Hire Staff: Don't Think Big and Other Tips for Picking Those First Few Employees
Full Summary
Many start-up businesses struggle with finding good candidates for their business, knowing what to look for, whom to hire, and when to hire them. The best advice is to proceed slowly, choose people who can adapt to the rapidly changing nature of a small business, and start small.
(Updated June 2005)
Two Men and A Lot of Trucks
Full Summary
The moving company Two Men and a Truck began as a small business and has grown to a franchised business operated in 27 states.
(Updated May 2005)
The Fast Lane
Full Summary
There are tried-and-true rules for growing a company, and then there are entrepreneurs who pay no attention to the speed limit, put their engines in overdrive and blaze their own paths to furiously fast growth. Entrepreneurs may not all take the same path to success, but they do believe that rules are made to be broken.
(Updated May 2005)
How China Eats A Sandwich
Full Summary
Opening Subway franchises in the People's Republic of China, with an economy growing at 9% a year, and a fast-food industry estimated at $15 billion, seemed like easy money for Jim Bryant. Cultural differences and the difficulties of introducing a new concept have made the enterprise more difficult than was initially expected.
(Updated April 2005)
What Successful Successions Need
Full Summary
Family-owned businesses have many unique advantages and disadvantages when it comes to long-range planning for the business. Foresight, planning, and communication are imperative to ensure a smooth succession and the continued growth and success of the business.
(Updated March 2005)
Tiny Outfits, Big Hearts
Full Summary
Small businesses can't match the charitable budgets of large companies, but methods like combining their efforts and giving back to the communities they are a part of can have vital impact.
(Updated March 2005)
High Tech Isn't Just for the Big Guys
Full Summary
As technology has become more affordable and easier to use, many small businesses are investing heavily in it, or plan to shortly. Many are finding that putting some money into technology saves them money in the long run and gives them a competitive edge over rivals.
(Updated March 2005)
Simple Startup Flubs To Avoid
Full Summary
The startup rate of sole proprietorships has been increasing annually by 2% since 2001. Statistics show that half of those companies won't survive and about 39% won't make it to their sixth year in business. Many of these small business missteps can be avoided with careful planning.
(Updated February 2005)
Getting the Most Out of a Consultant
Full Summary
Small business owners cannot be expected to know and do everything on their own. There are times when a consultant can help the business to thrive.
(Updated November 2004)
The Trouble With Buying a Business
Full Summary
When potential small business owners are looking to purchase an existing shop, restaurant, or retail business they need to be aware of all the potential problems involved and plan their purchase carefully.
(Updated November 2004)
What's In a Name?
Full Summary
Choosing the right name for a business is critical because a name can determine how much attention a business or product gets from its customers.
(Updated November 2004)
Tackling the High Costs of Health Benefits
Full Summary
With the cost of health care benefits rising, many small business owners are being forced to rethink their benefit offerings. Some are canceling benefits altogether, others are increasing the cost to their employees, and some are looking for new ways to reduce expenses, like becoming part of a cooperative that negotiates costs.
(Updated October 2004)
Intrapreneurship at Work
Full Summary
During the past 20 years, entrepreneurship has been highly valued in our economy. Often overlooked, however, is the importance of intrapreneurship within organizations.
(Updated 09/01/04)
Hit or Miss
Full Summary
To be successful, entrepreneurs need to be able to tell the difference between a fad and a trend. Mistaking the two will put them out of business quickly. Using quantitative and qualitative research helps the business owner distinguish between trends and fads by keeping in touch with the customer.
(Updated 08/01/04)
Head of Ohio-Based Firm Gives His Suggestions on Small Business Management
Full Summary
Experts weigh in on common pitfalls involved in starting and running a small business.
(Updated 05/11/04)
Study Finds Most Independents Lack Strategic Plans
Full Summary
According to a new study on family businesses, 80% of independent supermarkets don't have a written strategic plan for their company.
(Updated 04/12/04)
Stamford, Conn.-Based Human Resources Consulting Firm Aids Small Businesses
Full Summary
OperationsInc.com is a human resources and operational consulting firm. When faced with hard times, the company launched a new service that provided recruiting services to small and mid-sized businesses.
(Updated 03/07/04)
Franchisees Buy Into Job Security
Full Summary
As the economy suffered a downturn, franchise companies saw a surge of applications from prospective franchisees. Fear of a layoff prompted a couple to buy into a franchise in the hope that it would provide job security.
(Updated 02/01/04)
Bouncing From Start-Up to Start-Up and Loving It
Full Summary
Serial entrepreneurs thrive on the high-pressure excitement of starting a business from scratch. Often they leave the company only to start another one. What makes them different from a mainstream entrepreneur?
(Updated 01/06/04)
Private Sector: The Accidental Entrepreneurs
Full Summary
The founders of Octagon Research Solutions did not set out to become entrepreneurs, but when they saw an opportunity to create a better product, they had to see it through.
(Updated 12/01/03)
Blackboard Expands Reach in Deal to Set Up Chinese Colleges With Its Software
Full Summary
Blackboard Inc. was founded six years ago by two new graduates of American University. It predicts revenues for 2003 of $90 million, including a new deal to offer its software platform in China.
(Updated 11/01/03)
An Entrepreneur Steps to the Plate
Full Summary
Tendu is a company that develops data software to compile baseball statistics and show trends. It has competition, but this product might just be different enough to have an edge.
(Updated 11/01/03)
Entrepreneurs Must Be Wary of Franchising Pitfalls, Counselor Says
Full Summary
The International Franchise Association reports that more franchises succeed than fail, but those who are considering purchasing a franchise need to know how to protect themselves.
(Updated 10/01/03)
Buying an Existing Business Comes With Advantages, Challenges
Full Summary
Once you've decided to buy a business, there are many questions that need to be answered before you can determine if this is the right business for you.
(Updated 10/01/03)
Flower Girls
Full Summary
Two friends begin a business based in one of their homes. The business has flourished, and the location suits it perfectly.
(Updated 09/02/03)
Small Business Owners Balk at Illinois' New Minimum Wage
Full Summary
The state of Illinois' plan to raise the minimum wage is meeting resistance from small business owners.
(Updated 09/02/03)
Pennsylvania Entrepreneur Makes, Markets Ethnic Specialty Foods
Full Summary
Rajavel Jagadesan first had the idea to start his own company when he was a junior in college. His ethnic background gave him the idea to begin what has become a successful specialty foods company.
(Updated 09/02/03)
Entrepreneur Column
Full Summary
Two entrepreneurs began a landscape company in 1986 that has grown too large for its existing space. In this article, they discuss the challenges of expanding their business.
(Updated 07/30/03)
The Power of Networking
Full Summary
An entrepreneur with an employment staffing firm has used networking to get her company off the ground.
(Updated 07/30/03)
Return to Management News topic index Return to Management Resource Center

©2007  South-Western.   All Rights Reserved