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  1. Preface
  2. 1 Understanding Economic Systems and Business
    1. Introduction
    2. 1.1 The Nature of Business
    3. 1.2 Understanding the Business Environment
    4. 1.3 How Business and Economics Work
    5. 1.4 Macroeconomics: The Big Picture
    6. 1.5 Achieving Macroeconomic Goals
    7. 1.6 Microeconomics: Zeroing in on Businesses and Consumers
    8. 1.7 Competing in a Free Market
    9. 1.8 Trends in the Business Environment and Competition
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  3. 2 Making Ethical Decisions and Managing a Socially Responsible Business
    1. Introduction
    2. 2.1 Understanding Business Ethics
    3. 2.2 How Organizations Influence Ethical Conduct
    4. 2.3 Managing a Socially Responsible Business
    5. 2.4 Responsibilities to Stakeholders
    6. 2.5 Trends in Ethics and Corporate Social Responsibility
    7. Key Terms
    8. Summary of Learning Outcomes
    9. Preparing for Tomorrow's Workplace Skills
    10. Ethics Activity
    11. Working the Net
    12. Critical Thinking Case
    13. Hot Links Address Book
  4. 3 Competing in the Global Marketplace
    1. Introduction
    2. 3.1 Global Trade in the United States
    3. 3.2 Why Nations Trade
    4. 3.3 Barriers to Trade
    5. 3.4 Fostering Global Trade
    6. 3.5 International Economic Communities
    7. 3.6 Participating in the Global Marketplace
    8. 3.7 Threats and Opportunities in the Global Marketplace
    9. 3.8 The Impact of Multinational Corporations
    10. 3.9 Trends in Global Competition
    11. Key Terms
    12. Summary of Learning Outcomes
    13. Preparing for Tomorrow's Workplace Skills
    14. Ethics Activity
    15. Working the Net
    16. Critical Thinking Case
    17. Hot Links Address Book
  5. 4 Forms of Business Ownership
    1. Introduction
    2. 4.1 Going It Alone: Sole Proprietorships
    3. 4.2 Partnerships: Sharing the Load
    4. 4.3 Corporations: Limiting Your Liability
    5. 4.4 Specialized Forms of Business Organization
    6. 4.5 Franchising: A Popular Trend
    7. 4.6 Mergers and Acquisitions
    8. 4.7 Trends in Business Ownership
    9. Key Terms
    10. Summary of Learning Outcomes
    11. Preparing for Tomorrow's Workplace Skills
    12. Ethics Activity
    13. Working the Net
    14. Critical Thinking Case
    15. Hot Links Address Book
  6. 5 Entrepreneurship: Starting and Managing Your Own Business
    1. Introduction
    2. 5.1 Entrepreneurship Today
    3. 5.2 Characteristics of Successful Entrepreneurs
    4. 5.3 Small Business: Driving America's Growth
    5. 5.4 Ready, Set, Start Your Own Business
    6. 5.5 Managing a Small Business
    7. 5.6 Small Business, Large Impact
    8. 5.7 The Small Business Administration
    9. 5.8 Trends in Entrepreneurship and Small-Business Ownership
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  7. 6 Management and Leadership in Today's Organizations
    1. Introduction
    2. 6.1 The Role of Management
    3. 6.2 Planning
    4. 6.3 Organizing
    5. 6.4 Leading, Guiding, and Motivating Others
    6. 6.5 Controlling
    7. 6.6 Managerial Roles
    8. 6.7 Managerial Skills
    9. 6.8 Trends in Management and Leadership
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  8. 7 Designing Organizational Structures
    1. Introduction
    2. 7.1 Building Organizational Structures
    3. 7.2 Contemporary Structures
    4. 7.3 Using Teams to Enhance Motivation and Performance
    5. 7.4 Authority—Establishing Organizational Relationships
    6. 7.5 Degree of Centralization
    7. 7.6 Organizational Design Considerations
    8. 7.7 The Informal Organization
    9. 7.8 Trends in Organizational Structure
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  9. 8 Managing Human Resources and Labor Relations
    1. Introduction
    2. 8.1 Achieving High Performance through Human Resources Management
    3. 8.2 Employee Recruitment
    4. 8.3 Employee Selection
    5. 8.4 Employee Training and Development
    6. 8.5 Performance Planning and Evaluation
    7. 8.6 Employee Compensation and Benefits
    8. 8.7 The Labor Relations Process
    9. 8.8 Managing Grievances and Conflicts
    10. 8.9 Legal Environment of Human Resources and Labor Relations
    11. 8.10 Trends in Human Resource Management and Labor Relations
    12. Key Terms
    13. Summary of Learning Outcomes
    14. Preparing for Tomorrow's Workplace Skills
    15. Ethics Activity
    16. Working the Net
    17. Critical Thinking Case
    18. Hot Links Address Book
  10. 9 Motivating Employees
    1. Introduction
    2. 9.1 Early Theories of Motivation
    3. 9.2 The Hawthorne Studies
    4. 9.3 Maslow's Hierarchy of Needs
    5. 9.4 McGregor's Theories X and Y
    6. 9.5 Herzberg's Motivator-Hygiene Theory
    7. 9.6 Contemporary Views on Motivation
    8. 9.7 From Motivation Theory to Application
    9. 9.8 Trends in Employee Motivation
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  11. 10 Achieving World-Class Operations Management
    1. Introduction
    2. 10.1 Production and Operations Management—An Overview
    3. 10.2 The Production Process: How Do We Make It?
    4. 10.3 Location, Location, Location: Where Do We Make It?
    5. 10.4 Pulling It Together: Resource Planning
    6. 10.5 Production and Operations Control
    7. 10.6 Looking for a Better Way: Improving Production and Operations
    8. 10.7 Transforming the Factory Floor with Technology
    9. 10.8 Trends in Production and Operations Management
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  12. 11 Creating Products and Pricing Strategies to Meet Customers' Needs
    1. Introduction
    2. 11.1 The Marketing Concept
    3. 11.2 Creating a Marketing Strategy
    4. 11.3 Developing a Marketing Mix
    5. 11.4 Buyer Behavior
    6. 11.5 Market Segmentation
    7. 11.6 What Is a Product?
    8. 11.7 Creating Products That Deliver Value
    9. 11.8 The Product Life Cycle
    10. 11.9 Pricing Strategies and Future Trends
    11. 11.10 Trends in Developing Products and Pricing
    12. Key Terms
    13. Summary of Learning Outcomes
    14. Preparing for Tomorrow's Workplace Skills
    15. Ethics Activity
    16. Working the Net
    17. Critical Thinking Case
    18. Hot Links Address Book
  13. 12 Distributing and Promoting Products and Services
    1. Introduction
    2. 12.1 The Nature and Functions of Distribution (Place)
    3. 12.2 Wholesaling
    4. 12.3 The Competitive World of Retailing
    5. 12.4 Using Supply Chain Management to Increase Efficiency and Customer Satisfaction
    6. 12.5 Promotion Strategy
    7. 12.6 The Huge Impact of Advertising
    8. 12.7 The Importance of Personal Selling
    9. 12.8 Sales Promotion
    10. 12.9 Public Relations Helps Build Goodwill
    11. 12.10 Trends in Social Media
    12. 12.11 Trends in E-Commerce
    13. Key Terms
    14. Summary of Learning Outcomes
    15. Preparing for Tomorrow's Workplace Skills
    16. Ethics Activity
    17. Working the Net
    18. Critical Thinking Case
    19. Hot Links Address Book
  14. 13 Using Technology to Manage Information
    1. Introduction
    2. 13.1 Transforming Businesses through Information
    3. 13.2 Linking Up: Computer Networks
    4. 13.3 Management Information Systems
    5. 13.4 Technology Management and Planning
    6. 13.5 Protecting Computers and Information
    7. 13.6 Trends in Information Technology
    8. Key Terms
    9. Summary of Learning Outcomes
    10. Preparing for Tomorrow's Workplace Skills
    11. Ethics Activity
    12. Working the Net
    13. Critical Thinking Case
    14. Hot Links Address Book
  15. 14 Using Financial Information and Accounting
    1. Introduction
    2. 14.1 Accounting: More than Numbers
    3. 14.2 The Accounting Profession
    4. 14.3 Basic Accounting Procedures
    5. 14.4 The Balance Sheet
    6. 14.5 The Income Statement
    7. 14.6 The Statement of Cash Flows
    8. 14.7 Analyzing Financial Statements
    9. 14.8 Trends in Accounting
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  16. 15 Understanding Money and Financial Institutions
    1. Introduction
    2. 15.1 Show Me the Money
    3. 15.2 The Federal Reserve System
    4. 15.3 U.S. Financial Institutions
    5. 15.4 Insuring Bank Deposits
    6. 15.5 International Banking
    7. 15.6 Trends in Financial Institutions
    8. Key Terms
    9. Summary of Learning Outcomes
    10. Preparing for Tomorrow's Workplace Skills
    11. Ethics Activity
    12. Working the Net
    13. Critical Thinking Case
    14. Hot Links Address Book
  17. 16 Understanding Financial Management and Securities Markets
    1. Introduction
    2. 16.1 The Role of Finance and the Financial Manager
    3. 16.2 How Organizations Use Funds
    4. 16.3 Obtaining Short-Term Financing
    5. 16.4 Raising Long-Term Financing
    6. 16.5 Equity Financing
    7. 16.6 Securities Markets
    8. 16.7 Buying and Selling at Securities Exchanges
    9. 16.8 Trends in Financial Management and Securities Markets
    10. Key Terms
    11. Summary of Learning Outcomes
    12. Preparing for Tomorrow's Workplace Skills
    13. Ethics Activity
    14. Working the Net
    15. Critical Thinking Case
    16. Hot Links Address Book
  18. 17 Your Career in Business
    1. Introduction
    2. 17.1 Learn the Basics of Business
    3. 17.2 Developing Interpersonal Skills Is Key to Your Success
    4. 17.3 Make Your Future Happen: Learn to Plan
    5. 17.4 Going to College Is an Opportunity of a Lifetime—Never Drop Out
    6. 17.5 Get Your Career Off on the Right Track
    7. 17.6 Self-Test Scoring Guidelines
  19. A | Understanding the Legal and Tax Environment
  20. Index
  21. References
Symbols
1996 Telecommunications Act1.7 Competing in a Free Market
A
Abercrombie6.2 Planning
absolute advantage3.2 Why Nations Trade
AICPA Auditing Standards Board14.2 The Accounting Profession
American Building Restoration Products3.6 Participating in the Global Marketplace
American Eagle6.2 Planning
American Federation of Labor-Congress of Industrial Organization8.7 The Labor Relations Process
American Heart Association11.3 Developing a Marketing Mix
American Institute of CPAs14.2 The Accounting Profession
Apollo Global Management4.6 Mergers and Acquisitions
appellate courts (courts of appeals)A | Understanding the Legal and Tax Environment
Application service providers (ASP)13.2 Linking Up: Computer Networks
B
Bank of America Merrill Lynch16.6 Securities Markets
Benefit segmentation11.5 Market Segmentation
Bloomberg Businessweek12.5 Promotion Strategy
Brookfield Asset Management4.6 Mergers and Acquisitions
Brookfield Business Partners4.6 Mergers and Acquisitions
buy-national regulations3.3 Barriers to Trade
Buyer behavior11.4 Buyer Behavior
C
California Pizza Kitchen11.5 Market Segmentation
Campbell’s soups12.5 Promotion Strategy
Capital products11.6 What Is a Product?
Carbone Smolan Agency8.2 Employee Recruitment
Carnival Cruise Lines11.3 Developing a Marketing Mix
certified management accountant (CMA)14.2 The Accounting Profession
certified public accountant5.5 Managing a Small Business
certified public accountant (CPA)14.2 The Accounting Profession
collective bargaining8.7 The Labor Relations Process
committee structure7.2 Contemporary Structures
Computer-aided manufacturing (CAM)10.7 Transforming the Factory Floor with Technology
Computer-integrated manufacturing (CIM)10.7 Transforming the Factory Floor with Technology
Conceptual skills6.7 Managerial Skills
conglomerate merger4.6 Mergers and Acquisitions
Congressional Research Service Report4.7 Trends in Business Ownership
consumer price index (CPI)1.4 Macroeconomics: The Big Picture
contingency plans6.2 Planning
controlling6.5 Controlling
Convenience products11.6 What Is a Product?
corporate social responsibility (CSR)2.3 Managing a Socially Responsible Business
cost competitive advantage11.2 Creating a Marketing Strategy
critical path method (CPM)10.5 Production and Operations Control
Current liabilities14.4 The Balance Sheet
Customer departmentalization7.1 Building Organizational Structures
Customer satisfaction11.1 The Marketing Concept
D
DeBeers Consolidated Mines Ltd.1.7 Competing in a Free Market
decision support system (DSS)13.3 Management Information Systems
decisional role6.6 Managerial Roles
Demand deposits15.1 Show Me the Money
Demographic segmentation11.5 Market Segmentation
Department of Commerce5.5 Managing a Small Business
differential competitive advantage11.2 Creating a Marketing Strategy
Dodd-Frank Wall Street Reform and Consumer Protection Act15.2 The Federal Reserve System
double-entry bookkeeping14.3 Basic Accounting Procedures
E
Earnings per share (EPS)14.7 Analyzing Financial Statements
electronic communications networks (ECNs)16.7 Buying and Selling at Securities Exchanges
electronic data interchange (EDI)10.4 Pulling It Together: Resource Planning
Enterprise Rent-A-Car11.1 The Marketing Concept
enterprise resource planning (ERP)10.4 Pulling It Together: Resource Planning
Exchange controls3.3 Barriers to Trade
exchange-traded fund (ETF)16.6 Securities Markets
executive information system (EIS)13.3 Management Information Systems
Export Working Capital Program3.6 Participating in the Global Marketplace
F
factors of production1.1 The Nature of Business
federal budget deficit1.5 Achieving Macroeconomic Goals
Federal Computer Fraud and Abuse Act13.6 Trends in Information Technology
Federal Deposit Insurance Corporation (FDIC)15.4 Insuring Bank Deposits
Federal Mediation and Conciliation Service8.9 Legal Environment of Human Resources and Labor Relations
Federal Open Market Committee15.2 The Federal Reserve System
Federal Reserve15.1 Show Me the Money
Federal Reserve System15.2 The Federal Reserve System
Federal Reserve System (the Fed)1.5 Achieving Macroeconomic Goals
Federal Trade Commission4.5 Franchising: A Popular Trend
Financial Accounting Standards Board (FASB)14.1 Accounting: More than Numbers
financial intermediation,15.3 U.S. Financial Institutions
flexible manufacturing system (FMS)10.7 Transforming the Factory Floor with Technology
Franchise Business Review4.5 Franchising: A Popular Trend
Functional departmentalization7.1 Building Organizational Structures
Futures contracts16.6 Securities Markets
G
General Services Administration10.4 Pulling It Together: Resource Planning
generally accepted accounting principles (GAAP)14.1 Accounting: More than Numbers
Geographic departmentalization7.1 Building Organizational Structures
Geographic segmentation11.5 Market Segmentation
gross domestic product (GDP)1.4 Macroeconomics: The Big Picture
H
Habitat for Humanity1.1 The Nature of Business
Hewlett-Packard Enterprise13.6 Trends in Information Technology
Human relations skills6.7 Managerial Skills
I
Ilwaco Landing Fishermen2.4 Responsibilities to Stakeholders
informal organization7.7 The Informal Organization
informational role6.6 Managerial Roles
Institutional investors16.6 Securities Markets
Intangible assets14.4 The Balance Sheet
integrated marketing communications (IMC)12.5 Promotion Strategy
International Co-operative Alliance4.4 Specialized Forms of Business Organization
International Franchise Association4.5 Franchising: A Popular Trend
International Monetary Fund (IMF)3.4 Fostering Global Trade
International Organization for Standardization10.6 Looking for a Better Way: Improving Production and Operations
International Paper Company1.1 The Nature of Business
interpersonal roles6.6 Managerial Roles
inventory turnover ratio14.7 Analyzing Financial Statements
Investment bankers16.6 Securities Markets
J
L
leveraged buyout (LBO)4.6 Mergers and Acquisitions
limited liability company (LLC)4.3 Corporations: Limiting Your Liability
line-and-staff organization7.1 Building Organizational Structures
local area network (LAN)13.2 Linking Up: Computer Networks
Long-term liabilities14.4 The Balance Sheet
M
Managed service providers (MSP)13.2 Linking Up: Computer Networks
management rights clause8.7 The Labor Relations Process
Management support systems (MSS)13.3 Management Information Systems
Manufacturers’ representatives12.2 Wholesaling
Manufacturing resource planning II (MRPII)10.4 Pulling It Together: Resource Planning
market segmentation11.5 Market Segmentation
Marketing research11.5 Market Segmentation
Maslow’s hierarchy of needs9.3 Maslow's Hierarchy of Needs
Materials requirement planning (MRP)10.4 Pulling It Together: Resource Planning
merchant wholesaler12.2 Wholesaling
middle management6.3 Organizing
Miller Brewing Company4.6 Mergers and Acquisitions
mission statement6.2 Planning
Model Business Corporation Act4.3 Corporations: Limiting Your Liability
monopolistic competition1.7 Competing in a Free Market
Morris Financial Concepts9.8 Trends in Employee Motivation
Museum of Science and Industry11.3 Developing a Marketing Mix
N
National Association of Manufacturers Skills Gap Report10.8 Trends in Production and Operations Management
National Association of Securities Dealers Automated Quotation system16.7 Buying and Selling at Securities Exchanges
National Federation of Independent Businesses5.6 Small Business, Large Impact
National Institute of Standards and Technologies10.6 Looking for a Better Way: Improving Production and Operations
National Labor Relations Board8.7 The Labor Relations Process
Network Capital Funding Corporation1.2 Understanding the Business Environment
New Belgium Brewing Company2.4 Responsibilities to Stakeholders
New Mexico Manufacturing Extension Partnership10.5 Production and Operations Control
New York Stock Exchange14.2 The Accounting Profession
niche competitive advantage11.2 Creating a Marketing Strategy
nonprogrammed decisions6.6 Managerial Roles
Norfolk Southern6.6 Managerial Roles
North American Free Trade Agreement (NAFTA)3.5 International Economic Communities
North American Industry Classification System5.3 Small Business: Driving America's Growth
not-for-profit organization1.1 The Nature of Business
O
Observation research11.5 Market Segmentation
Occupational Safety and Health Administration8.9 Legal Environment of Human Resources and Labor Relations
Office of International Trade5.5 Managing a Small Business
Oil, Chemical and Atomic Workers Union8.7 The Labor Relations Process
Open market operations15.2 The Federal Reserve System
Operational planning6.2 Planning
organizing6.3 Organizing
P
Pacific Gas & Electric Company1.1 The Nature of Business
Paper, Allied-Industrial, Chemical and Energy International Union8.7 The Labor Relations Process
perfect (pure) competition1.7 Competing in a Free Market
Piggly Wiggly Carolina9.8 Trends in Employee Motivation
Place (distribution) strategy11.3 Developing a Marketing Mix
Planning6.2 Planning
PNC Financial Services Group7.1 Building Organizational Structures
preferred stock16.5 Equity Financing
PricewaterhouseCoopers14.2 The Accounting Profession
principle of comparative advantage3.2 Why Nations Trade
Process departmentalization7.1 Building Organizational Structures
producer price index (PPI)1.4 Macroeconomics: The Big Picture
Product departmentalization7.1 Building Organizational Structures
product life cycle11.8 The Product Life Cycle
program evaluation and review technique (PERT)10.5 Production and Operations Control
Programmed decisions6.6 Managerial Roles
Protective tariffs3.3 Barriers to Trade
Psychographic segmentation11.5 Market Segmentation
Public Company Accounting Oversight Board14.2 The Accounting Profession
Publix Super Markets16.5 Equity Financing
R
Recruitment branding8.2 Employee Recruitment
reference groups11.4 Buyer Behavior
Relationship marketing11.1 The Marketing Concept
revolving credit agreement16.3 Obtaining Short-Term Financing
S
Sales promotions12.8 Sales Promotion
Sarah Adult Day Services4.7 Trends in Business Ownership
secondary market16.6 Securities Markets
selection interview8.3 Employee Selection
selective credit controls15.2 The Federal Reserve System
selective strike strategy8.8 Managing Grievances and Conflicts
shopping products11.6 What Is a Product?
Small Business Administration (SBA)5.7 The Small Business Administration
Small Business Association5.5 Managing a Small Business
Small Business Investment Companies (SBICs)5.7 The Small Business Administration
Specialty products11.6 What Is a Product?
standard of living1.1 The Nature of Business
statement of cash flows14.6 The Statement of Cash Flows
Stock dividends16.5 Equity Financing
Stockholders (or shareholders)4.3 Corporations: Limiting Your Liability
Strategic planning6.2 Planning
supervisory (first-line) management6.3 Organizing
T
Tactical planning6.2 Planning
Taft-Hartley Act of 19478.7 The Labor Relations Process
technical skills6.7 Managerial Skills
Telecommunications Act of 19961.2 Understanding the Business Environment
Texas Health Resources8.3 Employee Selection
The Federal Trade Commission1.2 Understanding the Business Environment
The NonProfit TimesIntroduction
top management6.3 Organizing
transaction processing system (TPS)13.3 Management Information Systems
Treasury’s Bureau of Engraving and Printing15.1 Show Me the Money
TripAdvisor6.2 Planning
Turing Pharmaceuticals2.1 Understanding Business Ethics
U
Unemployment Compensation Commission8.6 Employee Compensation and Benefits
Uniform Franchise Offering Circular4.5 Franchising: A Popular Trend
United Nations Sustainability Development Goals3.9 Trends in Global Competition
United Papermakers International Union8.7 The Labor Relations Process
Unsought products11.6 What Is a Product?
W
wide area network (WAN)13.2 Linking Up: Computer Networks
World Wildlife Fund1.1 The Nature of Business
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