Summary: Introduction to Business
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
Table of Content
- Preface
- 1. Understanding Economic Systems and Business
- Introduction
- 1.1. The Nature of Business
- 1.2. Understanding the Business Environment
- 1.3. How Business and Economics Work
- 1.4. Macroeconomics: The Big Picture
- 1.5. Achieving Macroeconomic Goals
- 1.6. Microeconomics: Zeroing in on Businesses and Consumers
- 1.7. Competing in a Free Market
- 1.8. Trends in the Business Environment and Competition
- 1.9. Key Terms
- 1.10. Summary of Learning Outcomes
- 1.11. Preparing for Tomorrow’s Workplace Skills
- 1.12. Ethics Activity
- 1.13. Working the Net
- 1.14. Critical Thinking Case
- 1.15. Hot Links Address Book
- 2. Making Ethical Decisions and Managing a Socially Responsible Business
- Introduction
- 2.1. Understanding Business Ethics
- 2.2. How Organizations Influence Ethical Conduct
- 2.3. Managing a Socially Responsible Business
- 2.4. Responsibilities to Stakeholders
- 2.5. Trends in Ethics and Corporate Social Responsibility
- 2.6. Key Terms
- 2.7. Summary of Learning Outcomes
- 2.8. Preparing for Tomorrow’s Workplace Skills
- 2.9. Ethics Activity
- 2.10. Working the Net
- 2.11. Critical Thinking Case
- 2.12. Hot Links Address Book
- 3. Competing in the Global Marketplace
- Introduction
- 3.1. Global Trade in the United States
- 3.2. Why Nations Trade
- 3.3. Barriers to Trade
- 3.4. Fostering Global Trade
- 3.5. International Economic Communities
- 3.6. Participating in the Global Marketplace
- 3.7. Threats and Opportunities in the Global Marketplace
- 3.8. The Impact of Multinational Corporations
- 3.9. Trends in Global Competition
- 3.10. Key Terms
- 3.11. Summary of Learning Outcomes
- 3.12. Preparing for Tomorrow’s Workplace Skills
- 3.13. Ethics Activity
- 3.14. Working the Net
- 3.15. Critical Thinking Case
- 3.16. Hot Links Address Book
- 4. Forms of Business Ownership
- Introduction
- 4.1. Going It Alone: Sole Proprietorships
- 4.2. Partnerships: Sharing the Load
- 4.3. Corporations: Limiting Your Liability
- 4.4. Specialized Forms of Business Organization
- 4.5. Franchising: A Popular Trend
- 4.6. Mergers and Acquisitions
- 4.7. Trends in Business Ownership
- 4.8. Key Terms
- 4.9. Summary of Learning Outcomes
- 4.10. Preparing for Tomorrow’s Workplace Skills
- 4.11. Ethics Activity
- 4.12. Working the Net
- 4.13. Critical Thinking Case
- 4.14. Hot Links Address Book
- 5. Entrepreneurship: Starting and Managing Your Own Business
- Introduction
- 5.1. Entrepreneurship Today
- 5.2. Characteristics of Successful Entrepreneurs
- 5.3. Small Business: Driving America’s Growth
- 5.4. Ready, Set, Start Your Own Business
- 5.5. Managing a Small Business
- 5.6. Small Business, Large Impact
- 5.7. The Small Business Administration
- 5.8. Trends in Entrepreneurship and Small-Business Ownership
- 5.9. Key Terms
- 5.10. Summary of Learning Outcomes
- 5.11. Preparing for Tomorrow’s Workplace Skills
- 5.12. Ethics Activity
- 5.13. Working the Net
- 5.14. Critical Thinking Case
- 5.15. Hot Links Address Book
- 6. Management and Leadership in Today’s Organizations
- Introduction
- 6.1. The Role of Management
- 6.2. Planning
- 6.3. Organizing
- 6.4. Leading, Guiding, and Motivating Others
- 6.5. Controlling
- 6.6. Managerial Roles
- 6.7. Managerial Skills
- 6.8. Trends in Management and Leadership
- 6.9. Key Terms
- 6.10. Summary of Learning Outcomes
- 6.11. Preparing for Tomorrow’s Workplace Skills
- 6.12. Ethics Activity
- 6.13. Working the Net
- 6.14. Critical Thinking Case
- 6.15. Hot Links Address Book
- 7. Designing Organizational Structures
- Introduction
- 7.1. Building Organizational Structures
- 7.2. Contemporary Structures
- 7.3. Using Teams to Enhance Motivation and Performance
- 7.4. Authority—Establishing Organizational Relationships
- 7.5. Degree of Centralization
- 7.6. Organizational Design Considerations
- 7.7. The Informal Organization
- 7.8. Trends in Organizational Structure
- 7.9. Key Terms
- 7.10. Summary of Learning Outcomes
- 7.11. Preparing for Tomorrow’s Workplace Skills
- 7.12. Ethics Activity
- 7.13. Working the Net
- 7.14. Critical Thinking Case
- 7.15. Hot Links Address Book
- 8. Managing Human Resources and Labor Relations
- Introduction
- 8.1. Achieving High Performance through Human Resources Management
- 8.2. Employee Recruitment
- 8.3. Employee Selection
- 8.4. Employee Training and Development
- 8.5. Performance Planning and Evaluation
- 8.6. Employee Compensation and Benefits
- 8.7. The Labor Relations Process
- 8.8. Managing Grievances and Conflicts
- 8.9. Legal Environment of Human Resources and Labor Relations
- 8.10. Trends in Human Resource Management and Labor Relations
- 8.11. Key Terms
- 8.12. Summary of Learning Outcomes
- 8.13. Preparing for Tomorrow’s Workplace Skills
- 8.14. Ethics Activity
- 8.15. Working the Net
- 8.16. Critical Thinking Case
- 8.17. Hot Links Address Book
- 9. Motivating Employees
- Introduction
- 9.1. Early Theories of Motivation
- 9.2. The Hawthorne Studies
- 9.3. Maslow’s Hierarchy of Needs
- 9.4. McGregor’s Theories X and Y
- 9.5. Herzberg’s Motivator-Hygiene Theory
- 9.6. Contemporary Views on Motivation
- 9.7. From Motivation Theory to Application
- 9.8. Trends in Employee Motivation
- 9.9. Key Terms
- 9.10. Summary of Learning Outcomes
- 9.11. Preparing for Tomorrow’s Workplace Skills
- 9.12. Ethics Activity
- 9.13. Working the Net
- 9.14. Critical Thinking Case
- 9.15. Hot Links Address Book
- 10. Achieving World-Class Operations Management
- Introduction
- 10.1. Production and Operations Management—An Overview
- 10.2. The Production Process: How Do We Make It?
- 10.3. Location, Location, Location: Where Do We Make It?
- 10.4. Pulling It Together: Resource Planning
- 10.5. Production and Operations Control
- 10.6. Looking for a Better Way: Improving Production and Operations
- 10.7. Transforming the Factory Floor with Technology
- 10.8. Trends in Production and Operations Management
- 10.9. Key Terms
- 10.10. Summary of Learning Outcomes
- 10.11. Preparing for Tomorrow’s Workplace Skills
- 10.12. Ethics Activity
- 10.13. Working the Net
- 10.14. Critical Thinking Case
- 10.15. Hot Links Address Book
- 11. Creating Products and Pricing Strategies to Meet Customers’ Needs
- Introduction
- 11.1. The Marketing Concept
- 11.2. Creating a Marketing Strategy
- 11.3. Developing a Marketing Mix
- 11.4. Buyer Behavior
- 11.5. Market Segmentation
- 11.6. What Is a Product?
- 11.7. Creating Products That Deliver Value
- 11.8. The Product Life Cycle
- 11.9. Pricing Strategies and Future Trends
- 11.10. Trends in Developing Products and Pricing
- 11.11. Key Terms
- 11.12. Summary of Learning Outcomes
- 11.13. Preparing for Tomorrow’s Workplace Skills
- 11.14. Ethics Activity
- 11.15. Working the Net
- 11.16. Critical Thinking Case
- 11.17. Hot Links Address Book
- 12. Distributing and Promoting Products and Services
- Introduction
- 12.1. The Nature and Functions of Distribution (Place)
- 12.2. Wholesaling
- 12.3. The Competitive World of Retailing
- 12.4. Using Supply Chain Management to Increase Efficiency and Customer Satisfaction
- 12.5. Promotion Strategy
- 12.6. The Huge Impact of Advertising
- 12.7. The Importance of Personal Selling
- 12.8. Sales Promotion
- 12.9. Public Relations Helps Build Goodwill
- 12.10. Trends in Social Media
- 12.11. Trends in E-Commerce
- 12.12. Key Terms
- 12.13. Summary of Learning Outcomes
- 12.14. Preparing for Tomorrow’s Workplace Skills
- 12.15. Ethics Activity
- 12.16. Working the Net
- 12.17. Critical Thinking Case
- 12.18. Hot Links Address Book
- 13. Using Technology to Manage Information
- Introduction
- 13.1. Transforming Businesses through Information
- 13.2. Linking Up: Computer Networks
- 13.3. Management Information Systems
- 13.4. Technology Management and Planning
- 13.5. Protecting Computers and Information
- 13.6. Trends in Information Technology
- 13.7. Key Terms
- 13.8. Summary of Learning Outcomes
- 13.9. Preparing for Tomorrow’s Workplace Skills
- 13.10. Ethics Activity
- 13.11. Working the Net
- 13.12. Critical Thinking Case
- 13.13. Hot Links Address Book
- 14. Using Financial Information and Accounting
- Introduction
- 14.1. Accounting: More than Numbers
- 14.2. The Accounting Profession
- 14.3. Basic Accounting Procedures
- 14.4. The Balance Sheet
- 14.5. The Income Statement
- 14.6. The Statement of Cash Flows
- 14.7. Analyzing Financial Statements
- 14.8. Trends in Accounting
- 14.9. Key Terms
- 14.10. Summary of Learning Outcomes
- 14.11. Preparing for Tomorrow’s Workplace Skills
- 14.12. Ethics Activity
- 14.13. Working the Net
- 14.14. Critical Thinking Case
- 14.15. Hot Links Address Book
- 15. Understanding Money and Financial Institutions
- Introduction
- 15.1. Show Me the Money
- 15.2. The Federal Reserve System
- 15.3. U.S. Financial Institutions
- 15.4. Insuring Bank Deposits
- 15.5. International Banking
- 15.6. Trends in Financial Institutions
- 15.7. Key Terms
- 15.8. Summary of Learning Outcomes
- 15.9. Preparing for Tomorrow’s Workplace Skills
- 15.10. Ethics Activity
- 15.11. Working the Net
- 15.12. Critical Thinking Case
- 15.13. Hot Links Address Book
- 16. Understanding Financial Management and Securities Markets
- Introduction
- 16.1. The Role of Finance and the Financial Manager
- 16.2. How Organizations Use Funds
- 16.3. Obtaining Short-Term Financing
- 16.4. Raising Long-Term Financing
- 16.5. Equity Financing
- 16.6. Securities Markets
- 16.7. Buying and Selling at Securities Exchanges
- 16.8. Trends in Financial Management and Securities Markets
- 16.9. Key Terms
- 16.10. Summary of Learning Outcomes
- 16.11. Preparing for Tomorrow’s Workplace Skills
- 16.12. Ethics Activity
- 16.13. Working the Net
- 16.14. Critical Thinking Case
- 16.15. Hot Links Address Book
- 17. Your Career in Business
- Introduction
- 17.1. Learn the Basics of Business
- 17.2. Developing Interpersonal Skills Is Key to Your Success
- 17.3. Make Your Future Happen: Learn to Plan
- 17.4. Going to College Is an Opportunity of a Lifetime—Never Drop Out
- 17.5. Get Your Career Off on the Right Track
- 17.6. Self-Test Scoring Guidelines
- Understanding the Legal and Tax Environment
- Index
- References
Senior Contributing Authors
Lawrence J. Gitman, San Diego State University – Emeritus
Carl McDaniel, University of Texas, Arlington
Amit Shah, Frostburg State University
Monique Reece
Linda Koffel, Houston Community College
Bethann Talsma, Davenport University and Grand Rapids Community College
James C. Hyatt, Fort Hays State University
Publish Date:
Sep 18, 2018
Print:
ISBN-10: 1-947172-54-9
ISBN-13: 978-1-947172-54-8
Digital:
ISBN-10: 1-947172-55-7
ISBN-13: 978-1-947172-55-5