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1、Small Business ManagementProfessor HornadayLecture 3Small Business ManagementSuccess Factors1. Existence of a Business Opportunity 2. Adequate Capital and Credit3. Personal AttributesEntrepreneurial InclinationWillingness to Work Long HoursManagement AbilityKnow Modern Business MethodsSmall Business

2、 ManagementCHARACTERISTICS FOR SUCCESSTechnical CompetenceKnow how to SellCraft ExperienceIndustry ExperienceMental AbilityStreet SmartsGeneralistHuman RelationsCommunicationMotivationLeadershipSmall Business ManagementCHARACTERISTICS FOR SUCCESSHigh Achievement DriveCharacteristics of Achievers Lik

3、e to Win Take Personal Responsibility Moderate Risk Takers Want to keep ScoreBecoming Achievers Seek Feedback Emulate Successful People Develop Self-Image Think PositivelyCreativityTypes of Creativity Innovation Synthesis Extension DuplicationCreative People Bright Generate New Ideas Positive Self-I

4、mage Sensitive to Others Motivated by Challenges Wait to Decide Independent Can Fantasize Flexible Recognize Key to ProblemsSmall Business ManagementTHE OWNERSHIP DECISIONAdapted from Martin, 1984.SocialPersonalityOwnershipModelChoicePeriodSupportiveFamilyVentureOpportunityEntrepreneurialEnvironment

5、FinancialSupportSTARTSituationPrecipitatingEventThe Two Sides Must FitOWNERMARKETSkillsWantsNeedsKnowledgeDesireGapsChangesResourcesSMALL BUSINESS MANAGEMENTPRIMARY DECISIONS1. What does the Owner want the Firm to Be?2. Craft3. Promoter4. Professional Manager5. Owner/Goal FitOverhead 74CThree Types

6、of Business OwnersCraftPromoterProfessionalSeeks IndependenceSeeks WealthSeeks CareerLimits GrowthVery Rapid GrowthControlled GrowthResists DelegationReadily Sells OutDelegates EasilyDoes “The WorkLikes to “DealSeeks Outside FundsFamily MembersNon-ConformistA “WinnerValues ExperienceScoffs at EducationCivic MindedBusiness Owner TypesBusinessOwnershipExploitationof innovationand growthDesiresindependenceand personalcontrolLoyaltyto the firmand careerPROMOTERPROFESSIONAL MANAGERCRAFTBuilding an OrganizationPracticing aTrade,

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