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• Half Title
• Title Page
• Copyright
• Dedication
• Brief Contents
• Contents
• Preface
• About The Authors
• Part 1: The Contemporary Business World
• Chapter 1. The Global Business Environment
• Chapter Opening Case: Big on Quality, Lidl on Price
• Business, Profit, and the External Environment
• Business and Profit
• The External Environments of Business
• Finding a Better Way: Saving the World One Camp Stove at a Time
• Economic Systems
• Factors of Production
• Types of Economic Systems
• Entrepreneurship and New Ventures: Luxury on a Budget
• The Economics of Market Systems
• Demand and Supply in a Market Economy
• Private Enterprise and Competition in a Market Economy
• Economic Indicators
• Economic Growth, Aggregate Output, and Standard of Living
• Economic Stability
• Managing in Turbulent Times: Coronavirus: The Global Economic Impact of Disease
• Managing the U.S. Economy
• Developing Skills in Your Career
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 2. Understanding Business Ethics and Social Responsibility
• Chapter Opening Case: EpiPen: Balancing Morals and Profits
• Ethics in the Workplace
• Individual Ethics
• The Law and the Real World
• Individual Values and Morals
• Business and Managerial Ethics
• Assessing Ethical Behavior
• Company Practices and Business Ethics
• Social Responsibility
• The Stakeholder Model of Responsibility
• Entrepreneurship and New Ventures: Paying a Living Wage
• Contemporary Social Consciousness
• Areas of Social Responsibility
• Responsibility Toward the Environment
• Finding a Better Way: Mission Zero
• Responsibility Toward Customers
• Responsibility Toward Employees
• Responsibility Toward Investors
• Implementing Social Responsibility Programs
• Approaches to Social Responsibility
• Social Responsibility and the Small Business
• The Government and Social Responsibility
• How Governments Influence Business
• How Business Influences Government
• Managing Social Responsibility
• Formal Organizational Dimensions
• Informal Organizational Dimensions
• Evaluating Social Responsibility
• Managing in Turbulent Times: Unintended Consequences of Doing the Right Thing
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 3. Entrepreneurship, New Ventures, and Business Ownership
• Chapter Opening Case: Staying Ahead of the Curve
• What Is a Small Business?
• The Importance of Small Business in the U.S. Economy
• Popular Areas of Small Business Enterprise
• Finding a Better Way: The Rise of the Gig Economy
• Entrepreneurship
• Entrepreneurship Goals
• Entrepreneurial Characteristics
• Starting and Operating a New Business
• Understanding Distinctive Competencies
• Crafting a Business Plan
• Starting the Small Business
• Financing the Small Business
• Trends, Successes, and Failures in New Ventures
• Trends in Small Business Start-Ups
• Entrepreneurship and New Ventures: Small Investment, Big Payoff
• Reasons for Failure
• Reasons for Success
• Noncorporate Business Ownership
• Sole Proprietorships
• Partnerships
• Cooperatives
• Corporations
• The Corporate Entity
• Types of Corporations
• Managing in Turbulent Times: The Changing Winds of Fortune
• Managing a Corporation
• Special Issues in Corporate Ownership
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 4. Understanding the Global Context of Business
• Chapter Opening Case: Nothing Magical About Alibaba
• The Contemporary Global Economy
• The Major World Marketplaces
• Finding a Better Way: Car Wars: China Versus Mexico
• Trade Agreements and Alliances
• International Trade
• Balance of Trade
• Balance of Payments
• Exchange Rates
• Forms of Competitive Advantage
• Managing in Turbulent Times: Brexit 2020
• International Business Management
• Going International
• Levels of International Involvement
• Entrepreneurship and New Ventures: Women Entrepreneurs Grow Global
• International Organization Structures
• Understanding the Cultural Environment
• Values, Symbols, Beliefs, and Language
• Employee Behavior Across Cultures
• Barriers to International Trade
• Economic Differences
• Legal and Political Differences
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 1: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company
• Finding Your Path: Careers in Business
• Part 2: Managing the Business
• Chapter 5. Managing the Business
• Chapter Opening Case: The Force of Nature: The Body Shop and Its Founder
• The Management Process
• Basic Management Functions
• The Science and the Art of Management
• Becoming a Manager
• Types of Managers
• Levels of Management
• Areas of Management
• Entrepreneurship and New Ventures: Building Your Core
• Management Roles and Skills
• Managerial Roles
• Basic Management Skills
• Strategic Management: Setting Goals and Formulating Strategy
• Setting Business Goals
• Types of Strategy
• Finding a Better Way: Managing the Contingent Workforce
• Formulating Strategy
• A Hierarchy of Plans
• Contingency Planning and Crisis Management
• Contingency Planning
• Crisis Management
• Managing in Turbulent Times: When Data Disaster Strikes
• Management and the Corporate Culture
• Building and Communicating Culture
• Changing Culture
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 6. Organizing the Business
• Chapter Opening Case: The Skinny
• What Is Organizational Structure?
• Organization Charts
• Determinants of Organizational Structure
• Entrepreneurship and New Ventures: Organizing for Growth
• The Building Blocks of Organizational Structure
• Job Specialization
• Departmentalization
• Finding a Better Way: Inventing Holacracy
• Establishing the Decision-Making Hierarchy
• Distributing Authority: Centralization and Decentralization
• The Delegation Process
• Managing in Turbulent Times: Keeping the Organizational Tools Sharp
• Three Forms of Authority
• Basic Forms of Organizational Structure
• Functional Structure
• Divisional Structure
• Matrix Structure
• International Structure
• New Forms of Organizational Structure
• Informal Organization
• Informal Groups
• Organizational Grapevine
• Intrapreneuring
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 7. Operations Management and Quality
• Chapter Opening Case: Made from Scratch
• What Does Operations Mean Today?
• Growth in the Services and Goods Sectors
• Creating Value Through Operations
• Differences Between Service and Goods Manufacturing Operations
• Operations Processes
• Business Strategy as the Driver of Operations
• The Many Faces of Production Operations
• Operations Planning
• Capacity Planning
• Location Planning
• Entrepreneurship and New Ventures: Nothing Like a Home-Cooked Meal
• Layout Planning
• Quality Planning
• Methods Planning
• Operations Scheduling
• The Master Operations Schedule
• Detailed Schedules
• Staff Schedules and Computer-Based Scheduling
• Project Scheduling
• Operations Control
• Materials Management
• Quality Control
• Quality Improvement and Total Quality Management
• The Quality-Productivity Connection
• Managing for Quality
• Managing in Turbulent Times: Fasten Your Seat Belts, Please
• Tools for Total Quality Management
• Adding Value Through Supply Chains
• The Supply Chain Strategy
• Outsourcing and Global Supply Chains
• Finding a Better Way: Social Responsibility in the Supply Chain
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 2: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company, 1909–1928
• Finding Your Path: Careers in Business
• Part 3: People in Organizations
• Chapter 8. Employee Behavior and Motivation
• Chapter Opening Case: Virgin: Employees Come First, Customers Second
• Forms of Employee Behavior
• Performance Behaviors
• Organizational Citizenship
• Counterproductive Behaviors
• Managing in Turbulent Times: Not Just on the Playground
• Individual Differences Among Employees
• Personality at Work
• Attitudes at Work
• Matching People and Jobs
• Psychological Contracts
• The Person-Job Fit
• Basic Motivation Concepts and Theories
• Classical Theory
• Early Behavioral Theory
• Entrepreneurship and New Ventures: The Opportunity to Begin Again
• Contemporary Motivation Theory
• Strategies and Techniques for Enhancing Motivation
• Reinforcement/Behavior Modification
• Using Goals to Motivate Behavior
• Finding a Better Way: It’s an Actual Circus Out There
• Participative Management and Empowerment
• Work Teams and Team Structures
• Job Enrichment and Job Redesign
• Modified Work Schedules and Alternative Workplaces
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 9. Leadership and Decision Making
• Chapter Opening Case: Leadership by Design
• The Nature of Leadership
• Leadership and Management
• Leadership and Power
• Early Approaches to Leadership
• Trait Approaches to Leadership
• Behavioral Approaches to Leadership
• The Situational Approach to Leadership
• Leadership Through the Eyes of Followers
• Transformational Leadership
• Charismatic Leadership
• Entrepreneurship and New Ventures: Charisma and Message
• Special Issues in Leadership
• Leadership Substitutes
• Leadership Neutralizers
• The Changing Nature of Leadership
• Leaders as Coaches
• Gender and Leadership
• Finding a Better Way: Women Leading the Way
• Cross-Cultural Leadership
• Emerging Issues in Leadership
• Strategic Leadership
• Ethical Leadership
• Virtual Leadership
• Managing in Turbulent Times: The Changing Faces of Leadership
• Leadership, Management, and Decision Making
• The Nature of Decision Making
• Rational Decision Making
• Behavioral Aspects of Decision Making
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 10. Human Resource Management and Labor Relations
• Chapter Opening Case: Accor Makes You Feel Welcome
• The Foundations of Human Resource Management
• The Strategic Importance of HRM
• HR Planning
• The Legal Context of HRM
• Equal Employment Opportunity
• Compensation and Benefits
• Labor Relations
• Health and Safety
• Other Legal Issues
• Staffing the Organization
• Recruiting Employees
• Selecting Employees
• Compensation and Benefits
• Wages and Salaries
• Incentive Programs
• Benefits Programs
• Finding a Better Way: Reinventing the Workforce
• Developing the Workforce
• Training and Development
• Performance Appraisal
• Entrepreneurship and New Ventures: A Match Made by Artificial Intelligence
• New Challenges in the Changing Workplace
• Managing Workforce Diversity
• Managing Knowledge Workers
• Contingent and Temporary Workers
• Managing in Turbulent Times: The Union’s Job Is Never Done
• Dealing with Organized Labor
• Unionism Today
• Collective Bargaining
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 3: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company, 1929–1947
• Finding Your Path: Careers in Business
• Part 4: Principles of Marketing: Building Relationships with Customers for Competitive Advantage
• Chapter 11. Marketing Processes and Consumer Behavior
• Chapter Opening Case: More Than Just Meatballs
• What Is Marketing?
• Delivering Value
• Goods, Services, and Ideas
• Relationship Marketing and Customer Relationship Management
• The Marketing Environment
• Developing the Marketing Plan
• Managing in Turbulent Times: A Santa Fe Icon
• Marketing Strategy: Planning the Marketing Mix
• Marketing Strategy: Target Marketing and Market Segmentation
• Identifying Market Segments
• Geographic Segmentation
• Demographic Segmentation
• Geo-Demographic Segmentation
• Psychographic Segmentation
• Behavioral Segmentation
• Marketing Research
• The Research Process
• Research Methods
• Finding a Better Way: Reaping Rewards with Karma
• Understanding Consumer Behavior
• Influences on Consumer Behavior
• The Consumer Buying Process
• Organizational Marketing and Buying Behavior
• Business Marketing
• B2B Buying Behavior
• Social Media and Marketing
• The International Marketing Mix
• Entrepreneurship and New Ventures: Farming Your Niche
• Small Business and the Marketing Mix
• Small-Business Products
• Small-Business Pricing
• Small-Business Distribution
• Small-Business Promotion
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 12. Developing and Pricing Products
• Chapter Opening Case: Pricing at Lamborghini: Showcasing Value, Status, and Luxury
• What Is a Product?
• The Value Package
• Finding a Better Way: Brexit and Fee Status
• Classifying Goods and Services
• The Product Mix
• Developing New Products
• The New Product Development Process
• Entrepreneurship and New Ventures: Can Beds Come in Boxes?
• Product Mortality Rates
• The Seven-Step Development Process
• Variations in the Process for Services
• Product Life Cycle
• Stages in the PLC
• Extending Product Life: An Alternative to New Products
• Identifying Products
• Determining Prices
• Pricing to Meet Business Objectives
• Price-Setting Tools
• Pricing Strategies and Tactics
• Pricing Strategies
• Managing in Turbulent Times: The High Cost of Price Wars
• Pricing Tactics
• International Pricing
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 13. Distributing and Promoting Products
• Chapter Opening Case: The Changing Landscape of E-commerce
• The Distribution Mix
• Intermediaries and Distribution Channels
• Distribution Strategies
• Channel Conflict and Channel Leadership
• Wholesaling
• Merchant Wholesalers
• Agents and Brokers
• The E-Intermediary
• Entrepreneurship and New Ventures: Dispensing Hope
• Retailing
• Types of Brick-and-Mortar Retail Outlets
• Nonstore Retailing
• Finding a Better Way: The Store of the Future May Be Coming to You
• Online Retailing
• Physical Distribution
• Warehousing Operations
• Transportation Operations
• Distribution Through Supply Chains as a Marketing Strategy
• The Importance of Promotion
• Promotional Objectives
• Promotional Strategies
• The Promotional Mix
• Advertising
• Personal Selling
• Personal Selling Tasks
• Managing in Turbulent Times: The Last Mile
• The Personal Selling Process
• Sales Promotions
• Direct (or Interactive) Marketing
• Publicity and Public Relations
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 4: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company, 1948–1965
• Finding Your Path: Careers in Business
• Part 5: Managing Information for Better Business Decisions
• Chapter 14. Information Technology (IT) for Business
• Chapter Opening Case: Think Before You Click
• Information Technology Impacts: A Driver of Changes for Business
• Creating Portable Offices: Providing Remote Access to Instant Information
• Enabling Better Service by Coordinating Remote Deliveries
• Creating Leaner, More Efficient Organizations
• Enabling Increased Collaboration
• Enabling Global Exchange
• Providing Flexibility for Customization
• Providing New Business Opportunities
• Improving the World and Our Lives
• IT Building Blocks: Business Resources
• The Internet and Other Communication Resources
• Networks: System Architecture
• Entrepreneurship and New Ventures: Speaking Loud and Clear: The Future of Voice Technology
• Information Systems: Harnessing the Competitive Power of IT
• Leveraging Information Resources: Data Warehousing and Data Mining
• Types of Information Systems
• Managing in Turbulent Times: Better Care, Lower Costs
• IT Risks and Threats
• Hackers
• Identity Theft
• Intellectual Property Theft
• Computer Viruses, Worms, and Trojan Horses
• Spyware
• Spam
• IT Protection Measures
• Preventing Unauthorized Access: Firewalls
• Preventing Identity Theft
• Preventing Infectious Intrusions: Antivirus Software
• Protecting Electronic Communications: Encryption Software
• Avoiding Spam and Spyware
• Ethical Concerns in IT
• Finding a Better Way: Educational Opportunities and Income through Crowdsourcing
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 15. The Role of Accountants and Accounting Information
• Chapter Opening Case: Frenkel’s Forensics
• What Is Accounting, and Who Uses Accounting Information?
• Financial Versus Managerial Accounting
• Certified Public Accountants
• Private Accountants and Management Accountants
• Forensic Accountants
• Entrepreneurship and New Ventures: Skimming Off the Top
• Federal Restrictions on CPA Services and Financial Reporting: Sarbox
• Internationalizing Accounting
• International Accounting Standards Board
• Why One Set of Global Practices?
• The Accounting Equation
• Assets and Liabilities
• Owners’ Equity
• Managing in Turbulent Times: U.S. Versus the World
• Financial Statements
• Balance Sheets
• Income Statements
• Statements of Cash Flows
• The Budget: An Internal Financial Statement
• Reporting Standards and Practices
• Revenue Recognition and Activity Timing
• Full Disclosure
• Analyzing Financial Statements
• Solvency Ratios: Borrower’s Ability to Repay Debt
• Profitability Ratios: Earnings Power for Owners
• Activity Ratios: How Efficiently Is the Firm Using Its Resources?
• Bringing Ethics into the Accounting Equation
• AICPA’s Code of Professional Conduct
• Violations of Accounting Ethics and GAAP
• Finding a Better Way: Analytics and the Future of Auditing
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 5: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company, 1965–2008
• Finding Your Path: Careers in Business
• Part 6: The Financial System and Issues in Financial Management
• Chapter 16. Understanding Money and the Role of Banking
• Chapter Opening Case: Where Did All the Money Go?
• What Is Money?
• The Characteristics of Money
• The Functions of Money
• M-1: The Spendable Money Supply
• M-2: M-1 Plus the Convertible Money Supply
• Credit Cards and Debit Cards: Plastic Money?
• The U.S. Financial System
• Financial Institutions
• The Growth of Financial Services
• Managing in Turbulent Times: Getting Serious with Credit Standards
• How Financial Institutions Create Money and Are Regulated
• How Money Is Created
• How Banks Are Regulated
• The Federal Reserve System
• The Structure of the Fed
• Finding a Better Way: A Better Way to Pay?
• The Functions of the Fed
• The Tools of the Fed
• The Changing Money and Banking System
• Government Intervention for Stabilizing the U.S. Financial System
• Anticrime and Antiterrorism Regulations
• The Impact of Electronic Technologies
• Entrepreneurship and New Ventures: Managing a Risky Business
• International Banking and Finance
• Currency Values and Exchange Rates
• The International Payments Process
• International Bank Structure
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Chapter 17. Managing Business Finances
• Chapter Opening Case: Can Dr. Martens Stay Afloat?
• Maximizing Capital Growth
• The Time Value of Money and Compound Growth
• Common Stock Investments
• Investing to Fulfill Financial Objectives
• Reasons for Investing
• Most Mutual Funds Don’t Match the Market
• Exchange-Traded Funds
• Entrepreneurship and New Ventures: Social Capital Is Making the World a Better Place
• The Business of Trading Securities
• Primary and Secondary Securities Markets
• Stock Exchanges
• Nonexchange Trading: Electronic Communication Networks
• Individual Investor Trading
• Tracking the Market Using Stock Indexes
• Finding a Better Way: Finding a Way to Fund Life After Work
• The Risk–Return Relationship
• Investment Dividends (or Interest), Appreciation, and Total Return
• Fantasy Stock Markets
• Managing Risk with Diversification and Asset Allocation
• Financing the Business Firm
• Secured Loans for Equipment
• Working Capital and Unsecured Loans from Banks
• Angel Investors and Venture Capital
• Sale of Corporate Bonds
• Becoming a Public Corporation
• Going Public Means Selling Part Ownership of the Company
• Managing in Turbulent Times: Winners and Losers
• Stock Valuation
• Market Capitalization
• Choosing Equity Versus Debt Capital
• Regulating Securities Markets
• The Securities and Exchange Commission
• Regulations Against Insider Trading
• Summary of Learning Objectives
• Key Terms
• Questions & Exercises
• Building a Business: Continuing Team Exercise
• Team Exercise
• Exercising Your Ethics
• Cases
• Endnotes
• Part 6: Integrative Learning Portfolio
• Crafting a Business Plan
• Case: Ford Motor Company, 2008–Present
• Finding Your Path: Careers in Business
• Appendices
• Appendix I: Risk Management
• Coping with Risk
• Insurance as Risk Management
• Appendix II: The Legal Context of Business
• The U.S. Legal and Judicial Systems
• Types of Law
• The U.S. Judicial System
• Business Law
• Contract Law
• Tort Law
• Property Law
• Agency Law
• Commercial Law
• Bankruptcy Law
• The International Framework of Business Law
• Appendix III: Managing Your Personal Finances
• Building Your Financial Plan
• Assessing Your Current Financial Condition
• Developing Your Financial Goals
• Making Better Use of the Time Value of Money
• Planning for the “Golden Years”
• Time Value as a Financial-Planning Tool
• Conserving Money by Controlling It
• Credit Cards: Keys to Satisfaction or Financial Handcuffs?
• Save Your Money: Lower Interest Rates and Faster Payments
• Financial Commitments of Home Ownership
• How Much House Can You Afford?
• Cashing Out from Tax Avoidance (Legally)
• The IRA Tax Break
• Protecting Your Net Worth
• Why Buy Life Insurance?
• What Does Life Insurance Do?
• How Much Should I Buy?
• Why Consider Term Insurance?
• How Much Does It Cost?
• Appendix IV: Unions and Labor Management
• Why Do Workers Unionize?
• The Evolution of Unionism in the United States
• Early Unions
• The Emergence of the Major Unions
• Unionism Today
• Trends in Union Membership
• Trends in Union-Management Relations
• Trends in Bargaining Perspectives
• The Future of Unions
• Contemporary Union Structure
• Locals
• Laws Governing Labor-Management Relations
• The Major Labor Laws
• How Unions Are Organized and Certified
• Collective Bargaining
• Reaching Agreement on Contract Terms
• Contract Issues
• When Bargaining Fails
• Administering a Labor Agreement
• endnotes
• Glossary
• Index
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