How can I get a SQL dump of a SQL Server 2008 database?

From SQL Server Management Studio you can use the Generate Scripts command in the Tasks item of the right-click menu on the target database. From here you generate scripts for the structure and data and SPs etc: make sure 'Script Data' is set to True in the scripting options to get the inserts.

Not finding what I needed (scriptable tool dumping SQL statements), I have created a tool called SQL Server Dump which is inspired by mysqldump, but for SQL Server. You will find it on github