Describe the characteristics of highly successful start
Instructions
Learning Objectives:
- Describe the characteristics of highly successful startups.
- Analyze factors contributing to the success and failure of small businesses.
Prompt:
Review Lesson 1 and section 1.5 The Three Threads in Chapter 1 of Small Business Management in the 21st Century.
In a well thought out PowerPoint presentation, discuss the impact of e-commerce and digital technology for small business. How can the latest technologies be integrated into small business?
Instructions:
- Develop a formal 8 PowerPoint slide presentation
- Your presentation should include an Agenda slide, Speaker's Notes on your main information slides, and an APA 7th References slide with in-text citations on your your main slides.
- Including Speaker's Notes furthers the content of your presentation in lieu of putting all your information on each slide.
- Follow APA 7th formatting for structure of your references. Support with 3 credible, academic references beyond the course materials. Please note that 'pedias' such as Wikipedia, Investopedia and similar general websites are not credible primary research sources and should not be used in your citations and References page.
- Make sure you also study and review the iRubric so that you can make sure you achieve all the necessary elements of the assignment for maximizing points and grade score opportunities.
APA STYLE SEVENTH EDITION – 2019
This module is designed to show the basic elements of APA style writing and provide examples of appropriate APA guidelines; however, it is not intended as an exhaustive reference guide.
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WHY USE APA?
APA writing style provides a foundation for effective communication aiding writers to present ideas in a clearer, concise, and organized manner.
APA rules create uniformity and consistency.
APA (Seventh Edition) has broadened its audience consulting not only by psychologists but also students & researchers in many fields such as business, education, social work, nursing and many other behavioral and social sciences.
BASIC APA PAPER CONSIST OF:
The title page
Text of the paper
Reference page
Notice No Running Head – YAY!
THE TITLE PAGE
APA requires seven basic elements to your title page:
1. Title
2. Author name
3. Institution affiliation
4. Course number/name
5. Instructor name
6. Due date
7. Page number (top header right)
SEVEN COMPONENTS OF THE TITLE PAGE
Title
Author name; first name, last name, no titles or degrees used.
Institution affiliation – American Public University
Course number/Course name
Instructor name
Assignment due date (Month, ##, YYYY)
Page number, page number in header flush right
The title is typed bold, centered, and positioned in the upper half of the title page, 3-4 lines from top margin.
Capitalize the significant words of the title. Do not capitalize words such as: the, in, of, or, and, unless the word is the first word in the title.
There is no prescribed limit for title length in APA Style, authors are encouraged to keep titles focused and succinct.
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TEXT OF THE PAPER
The body must conform to but a few guidelines:
- 1” margins all the way around
- All text double-spaced
- Every new sentence 1 tab indent (0.5 inches)
GENERAL FORMATTING INFORMATION
Begin writing your paper on page two (the cover page is page one). The page numbering top right hand side must reflect page 2 in the Header.
Same typeface throughout – various typeface font choices acceptable (2.19).
Double space the entire paper (2.21).
Margins are set at one inch (top, bottom, left, and right) (2.22).
First sentence of every paragraph must e indented (2.24).
Center the title at the top of page two. The title is written in the title case (6.17).
Quotes 40+ words blocked no quotation marks (8.27)
.
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WRITING THE PAPER
APA writing should be straightforward with an active voice – i.e., “Jones developed the project..” as opposed to the passive voice – i.e. “The project was developed by Jones…”
Use past tense when describing earlier research
Spell out the first use of an acronym (example: American Public University (APU) – first use. Next time referenced in paper use (APU).
QUOTES OF 40 WORDS OR MORE
If a quotation contains 40 words or more,
treat it as a block quotation
Start a block quotation on a new line
Indent the whole block 0.5 in. from the left margin.
Double-space the entire block quotation. (8.27)
Do NOT use quotation marks for the entire quotation.
You must give credit for the source.
Place periods or commas within quotation marks when they are part of the quoted material.
At end of quote, place period then page number. Example: …… placebo effect. (p. 276)
CITATIONS–GIVING CREDIT WHERE CREDIT IS DUE
It is very important to give proper credit when words or thoughts are not ours originally.
Citing the source means mentioning the author/s within the text so the reader can look up the source at the back of the paper.
APA has very specific ways this must be done. The model must be followed exactly. With a little practice, citing sources gets easier!
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PARAPHRASING
Paraphrasing is your own rendition of someone else’s information or idea. (8.23)
Parenthetical Citation Example: Many people possess knowledge on a multitude of topics, but infrequently have the chance to take advantage of such knowledge (Conner, 2004).
Narrative Citation Example: Conner suggested many people possess knowledge on a multitude of topics, but infrequently have the chance to take advantage of such knowledge (2004).
Direct quote: reproduces words verbatim from an author or source. (8.25)
Parenthetical Citation Example: “Many of us understand all sorts of things but never have the opportunity to take the time to try them out” (Conner, 2004, p. 161).
Narrative Citation Example: According to Conner (2004) “Many of us understand all sorts of things but never have the opportunity or take the time to try them out" (p. 161).
BASIC IN-TEXT CITATION STYLES
Table 8.1 p. 266
| Author type | Parenthetical citation | Narrative citation |
| One author | (Luna, 2020) | Luna (2020) |
| Two Authors | (Salas & D’Agostino, 2020) | Salas and D’Agostino (2020) |
| Three or more authors | (Martin et al., 2020) | Martin et al. (2020) |
| Group author with abbreviation First citation Subsequent citations | (National Institute of Mental Health [NIMH], 2020) (NIMH, 2020) | National Institute of Mental Health (NIMH, 2020) NIMH (2020) |
| Group author without abbreviation | (Stanford University, 2020) | Stanford University (2020 |
NEW GUIDELINES FOR CITING REFERENCES
- Keep the format as simple as possible.
- No retrieval dates needed unless the source material may change over time. (9.16)
- For electronic references, give the DOI, if no DOI is assigned provide the URL. (9.34)
- For works associated with specific location, include the location such as conference presentations, include the location, (Example: New York, NY) (9.31)
THE DIGITAL OBJECT IDENTIFIER (DOI)
The digital object identifier (DOI)
is an alphanumeric string identifying content
Give DOI for
journal articles,
books,
book chapters accessed online.
Do not use the phrase retrieved from
Do not give a retrieval date. (9.34)
For electronic references,
give the DOI
If no DOI assigned, provide the URL. (9.35)
TO SEARCH FOR A DOI
Search for a DOI: Go to a free DOI lookup:
http://www.crossref.org/guestquery/
or
http://www.crossref.org/SimpleTextQuery/
REFERENCE PAGE
The Reference page is the last page (unless an appendix).
Insert a page break at the end of the final paragraph to prevent distortion
The word References should appear at the top center of the page.
Entries are double spaced, left and additional lines of each reference are indented (hanging indent).
Example
References
Stielow, F. J. (2003). Building digital archives.
New York: Neal- Schuman.
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REFERENCES ARE ALPHABETIZED
References
Alphabetical order by author(s) last name
List last name, then first and middle initials (if applicable) only.
Author. Date. Title. Source.
When author is unknown or cannot reasonably be determined, move the title of the work to the author position followed by a period before the date of the publication, i.e., Anderson, M. (2018). Getting consistent with consequences. Educational Leadership, 76(1), 26-33. or Anonymous. (2017). or Generalized anxiety disorder. (2019). respectively.
Only list the last name of an author or authors followed by initials for the first and middle names. For example: Marcia L. Conner would be listed as Conner, M. L.
Do not list the author as anonymous or unknown unless the work is signed ‘Anonymous’. (9.29)
INSERT THE PUBLICATION DATE IN PARENTHESES FOLLOWING THE AUTHOR.
Following the author’s name is the publication date. The date (in parentheses) is always the second part of a reference. (9.4) List the date as follows:
(year only). For example: (2009).
(year, month). For example: (2007, January). Note: Do not use month abbreviations.
(year, month, day). For example: (1998, June 16).
(range of dates (e.g., range of years, range of exact dates) (9.13)
(n.d.). Use n.d. for works without a publication date (9.17)
Capitalize only the first word of titles, proper nouns (names of people, places, studies, etc.), & subtitles following a colon (:). (6.29)
WHAT TO ITALICIZE
- Italicize the name of books, reports, webpages, and other stand-alone works (6.22) journals, magazines, or newspapers (10.1 ex.3), but do not italicize the name of an article. (10.1 ex.5)
- Journal: Journal of Social Psychology (10.1 ex.1)
- Magazine: Newsweek (10.1 ex.15)
- Newspapers: The New York Times (10.1 ex.16)
- Book: Learn more now: 10 simple ways to learning better, smarter & faster. (10.2)
JOURNAL ARTICLE REFERENCE WITH DOI EXAMPLE (10.1 EX. 1)
Last name, Initials. (yyyy of journal volume). Article title. Journal, volume number, (issue number), pages. doi: xx.xxxxx
Roy, A.J. (1982). Suicide in chronic schizophrenia. British Journal of Psychiatry, 96(1), 171-177. doi: xx.xxxx
It should be noted using the words Volume or Vol., Issue or Iss., or Pages, p. or pp. are not acceptable in the reference citation. Also, the journal title and volume number are italicized.
***Note: For electronic references, give the DOI, if assigned, if not include the URL.
EXAMPLE JOURNAL ARTICLE REFERENCE WITHOUT DOI EXAMPLE (10.1 EX. 2)
Last name, Initials. (yyyy of journal volume). Article title. Journal, volume number, (issue number), pages.
Roy, A.J. (1982). Suicide in chronic schizophrenia. British Journal of Psychiatry, 96(1), 171-177.
It should be noted using the words Volume or Vol., Issue or Iss., or Pages, p. or pp. are not acceptable in the reference citation. Also, the journal title and volume number are italicized.
Note: Provide URL if DOI is not available. (9.35)
EXAMPLE BLOG POST EXAMPLE
(10.1 EX. 17)
Last name, Initials. (Date). Title of article. Title of Blog. Source location
Klymkowsky, M. (2018, September 15). Can we talk scientifically about
free will? Sci-Ed. https:// blogs.plos.org/scied/2018/09/15/can-
EXAMPLE CHAPTER IN AN EDITED BOOK WITHOUT DOI EXAMPLE (10.3. EX. 39)
Last name, Initials. (yyyy). Title of chapter. In E. E. Editor (Ed.), Title of book (if 2nd+ ed., pp. #). Publisher Name.
Weinstock, R., Leong, G. B., & Silva, J. A., (2003). Defining forensic psychiatry: Roles and responsibilities. In R. Rosner (Ed.), Principles and practice of forensic psychiatry (2nd ed., pp. 7-13). CRC Press.
ONLINE MEDIA TEMPLATE
Table 10.15 p. 348
| Source | ||||
| Author | Date | Title | Social media site name | URL |
| Twitter and Instagram: Author, A. A. [@username]. Name of Group [@username]. Facebook and others: Author, A. A. Name of Group. Name of Group [Username]. Username | (n.d.). (2019, August, 8). | Content of the post up to the first 20 words. Content of the post up to the first 20 words [Description of audiovisuals]. [Description of audiovisuals]. | Site Name. | https://xxxxxxx Retrieved August 27, 2020, from https://xxxxx |
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WEBPAGES OR WEBSITES TEMPLATE
Table 10.16 p. 351
| Source | ||||
| Author | Date | Title | Social media site name | URL |
| Author, A. A. & Author, B. B. Name of Group. | (2020). (2019, August). (2020, September 28). (n.d.). | Title of work. | Site Name. | https://xxxxxxx Retrieved December 22, 2020, from https://xxxxx |
ADDITIONAL EXAMPLES
The new Seventh Edition of the APA Manual has various templates along with various examples of different types of references including, but not limited to,
periodicals
books
technical
research reports
meetings & symposia
doctoral dissertations & master’s theses
reviews & peer commentary
audiovisual media
data sets, software, internet message boards, electronic mailing lists & other sources
WRITING & GRAMMAR
BASIC WRITING COMPONENTS
Title: Name your paper. The title can “hook” your readers.
Introduction Paragraph: Tell the readers what you are about to tell them. The thesis statement is often the last sentence of the first paragraph.
Thesis Statement: Essentially, a thesis statement answers the question, "What do I want my readers to know after they have read my essay?"
Body: Discuss topic. The number of paragraphs will depend on the length and complexity of your paper.
Concluding Paragraph: A short summary. Do not introduce
any new information.
WRITING TIPS
Use Formal Voice: Academic writing is more formal than casual conversations, emails, and instant messages.
Complete Sentences: Write in complete sentences. Complete sentences contain both subjects and verbs.
Subject-Verb Agreement: Be sure your subject and verb agree. For example, “we are” rather than “we is,” or “they did” rather than “they done.”
Verb Tense and Active Voice: Limit shifts in verb tense, and use active voice rather than passive voice.
Awkward Phrasing: Use standard English phrasing. For example, “try to do” rather than “try and do,” or “we went” rather than “us went.”
Long Paragraphs Preferred: Be sure your ideas are fully developed in each of your paragraphs. This usually results in paragraphs of three to five sentences.
WRITING TIPS CONT…
Brainstorming: Before beginning to write, take the time to put your ideas on paper. Mind-mapping and list-making are two useful brainstorming techniques.
Organizing: Plan your paper or assignment. This may be as simple as a chronological list of your points or as elaborate as a formal outline.
Multiple Drafts: Professional writers create multiple drafts of their writing. You should too.
Extra Time: Quality writing takes time – lots of time. Build in a cushion of extra time.
Allow Time Between Drafts: While a break of 24- hours or more is ideal, a 30-minute break will yield positive results.
Help From Others: Being mindful of plagiarism and academic honesty, request proofreading help.
WRITING TIPS CONT…
Full Wording Rather Than Contractions: Convert contractions to their complete word-partner. For example:
it’s = it is
won’t = will not
haven’t = have not
Homonyms: Homonyms are words that sound alike but are
spelled differently and have different definitions. For example,
new and knew, your and you’re, and know and no or piece and peace, or versus and verses.
Non-words: Ensure that all your words are standard English words. For example, “alot” is not a word.
Frequently Misspelled Words: Be alert for commonly confused words. For example, possess and posses, a lot and allot, definitely and defiantly, and their and there.
etc.: Avoid using etc. at the end of a list unless it is part of a quotation.
WRITING TIPS CONT…
Use 3rd person point of view (unless opinion paper): Avoid pronouns such as I, we, my, our (1st person) and you, yours, your, us, we (2ndperson). Deal with facts, thus, providing citations within paper and reference page. Focus on subject; not feelings about the subject. The use of 3rd person retains a formal tone: Academic writing is more formal than casual conversation.
Parenthesis: Parentheses are most often used in citations. Before using them in other applications, consult the APA handbook for guidance.
Commas and Introductory Phrases: Usually commas are placed between an introductory phrase and the main sentence; however, commas are rarely used to separate a concluding phrase.
Colon: Colons should only be used when the introductory phrase is a complete sentence.
Semicolon: Semicolons are used to either connect two complete sentences, or to connect a list that contains commas.
Slashes: Use dashes rather than slashes.
WRITING TIPS CONT…
Punctuation when ending a Quote: If quotation is at the end of a sentence, close quote with quotation marks, cite the source in parentheses, and end with a period or other punctuation outside the final parenthesis. (6.7)
Mid-sentence quote: If quote is in mid-sentence, close quote with quotation marks, cite the source immediately after the quotation marks, and continue the sentence. (6.7)
Question Marks and Quotation Marks: Place question marks outside the quotation mark unless the question mark is part of the quotation.
Single Quotation Marks: The only time you use single quotation marks is inside of double quotation marks.
Exclamation Points: Exclamation points should not be used unless the exclamation point is part of a quotation.
Titles of Books and Magazines: Italicize the title of books and magazines.
SPELL-CHECKER,
GRAMMAR-CHECKER,
AND YOU!
Use your word processor’s spell-checker and grammar-checker to catch common mistakes. Remember, these are tools and no software program is perfect.
Spell-checkers identify the words in its dictionary but can not identify correct contextual spelling.
Grammar-checkers may fail to identify incorrect punctuation or usage. It may also highlight correct usage and punctuation.
You must follow along behind them to ensure that the spelling and grammar
are correct.
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Previous Sec�on Next Sec�on Table of Contents
1.5 The Three Threads
L E A R N I N G O B J E C T I V E S
1. Define customer value and explain why it is important to small business compe��veness.
2. Define digital technology and explain its role in small business compe��veness.
3. Define e-business and explain why e-business is important to small businesses.
4. Define e-commerce and explain why e-commerce should be integrated into small businesses.
There are three threads that flow throughout this text: customer value, cash flow, and digital
resources and e-environments. These threads can be likened to the human body. Cash flow is the
circulatory system, without which there can be no life. Digital technology and e-business are the
internal organs that carry out daily processes. E-commerce is the sensory system that enables
business to observe and interact with the external environment. Customer value is overall health.
These threads must figure prominently in all small business decision making. Although they are
necessary but not sufficient conditions for small business survival, the chances for survival will be
reduced significantly if they are not used.
Customer Value
In 1916, Nathan Hanwerker was an employee at one of the largest restaurants on Coney Island—but
he had a vision. Using his wife’s recipe, he and his wife opened a hot dog stand. He believed that the
combination of a better tasting hot dog and the nickel price, half that of his competitors, was his
recipe for success. He was wrong. Unfortunately for Nathan, Upton Sinclair’s book The Jungle a
decade before had made the public suspicious of low-cost meat products. Nathan discovered that his
initial business model was not working. Customers valued taste and cost, but they also valued the
quality of a safe product. To convince customers that his hot dogs were safe, he secured several
doctors’ smocks and had people wear them. The sight of “doctors” consuming Nathan’s hot dogs gave
customers the extra value that they needed. It was all about the perception of quality. If doctors were
eating the hot dogs, they must be OK. Today there are over 20,000 outlets serving Nathan’s hot
dogs.John A. Jakle and Keith A. Sculle, Fast Food (Baltimore: Johns Hopkins University Press, 1999),
163–64.
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In principle, customer value is a very simple concept. It is the difference between the benefits that a
customer receives from a product or a service and the costs associated with obtaining that product or
service. Total customer benefit refers to the perceived monetary value of the bundle of economic,
functional, and psychological benefits customers expect from a product or a service because of the
products, services, personnel, and images involved. Total customer cost, the perceived bundle of
costs that customers expect to occur when they evaluate, obtain, use, and dispose of the product or
use the service, include monetary, time, energy, and psychological costs.Philip Kotler and Kevin Lane,
Marketing Management (Upper Saddle River, NJ: Pearson Prentice-Hall, 2009), 121. In short, it is
all about what customers get and what they have to give up.
In reality, the creation of customer value will always be a challenge—particularly because it almost
always needs to be defined on the customer’s terms.H. Whitelock, “How to Create Customer Value,”
eZine Articles, March 16, 2007, accessed October 7, 2011, ezinearticles.com/?How-to-Create-
Customer-Value &id=491697. Nonetheless, “the number one goal of business should be to ‘maximize
customer value and strive to increase value continuously.’ If a firm maximizes customer value, relative
to competitors, success will follow. If a firm’s products are viewed as conveying little customer value,
the firm will eventually atrophy and fail.”Earl Nauman, Creating Customer Value: The Path to
Sustainable Competitive Advantage (New York: Free Press, 1995), 16. This will certainly be true for
the small business that is much closer to its customers than the large business.
The small business owner needs to be thinking about customer value every day: what is offered now,
how it can be made better, and what the competition is doing that is offering more value. It is not
easy, but it is essential. All business decisions will add to or detract from the value that can be offered
to the customer. If your product or service is perceived to offer more value than that of the
competition, you will get the sale. Otherwise, you will not get the sale.
Cash Flow
Revenue is vanity…margin is sanity…cash is king.
– Unknown.
Most people would define success with respect to profits or sales. This misses a critical point. The
survival of a firm hinges not so much on sales or profits, although these are vitally important, as it
does on the firm’s ability to meet its financial obligations. A firm must learn to properly manage its
cash flow, defined as the money coming into and flowing from a business because cash is more than
king. It is a firm’s lifeblood. As the North Dakota Small Business Development Center put it, “Failure
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to properly plan cash flow is one of the leading causes for small business failure.”“Why Is Cash Flow
So Important?,” North Dakota Small Business Development Center, 2005, accessed October 7, 2011,
www.ndsbdc.org/faq/default.asp?ID=323.
An understanding of cash flow requires some understanding of accounting systems. There are two
types: cash based and accrual. In a cash-based accounting system, sales are recorded when you
receive the money. This type of system is really meant for small firms with sales totaling less than $1
million. Accrual accounting systems, by contrast, are systems that focus on measuring profits.
They assume that when you make a sale, you are paid at that point. However, almost all firms make
sales on credit, and they also make purchases on credit. Add in that sales are seldom constant, and
you begin to see how easily and often cash inflows and outflows can fall out of sync. This can reduce a
firm’s liquidity, which is its ability to pay its bills. Envision the following scenario: A firm generates
tremendous sales by using easy credit terms: 10 percent down and one year to pay the remaining 90
percent. However, the firm purchases its materials under tight credit terms. In an accrual accounting
system, this might appear to produce significant profits. However, the firm may be unable to pay its
bills and salaries. In this type of situation, the firm, particularly the small firm, can easily fail.
There are other reasons why cash flow is critically important. Firms need to have the money to buy
new materials or expand. In addition, firms should have cash available to meet unexpected
contingencies or investment opportunities.
Cash-flow management requires a future-focused
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