Business in Action 9th Edition by Courtland L. Bovee, ISBN-13: 978-0135175477

Business in Action 9th Edition by Courtland L. Bovee, ISBN-13: 978-0135175477

[PDF eBook eTextbook]

• Publisher: ‎ Pearson; 9th edition (February 1, 2019)
• Language: ‎ English
• ‎608 pages
• ISBN-10: ‎ 013517547X
• ISBN-13: ‎ 978-0135175477

Business in Action remains the premier textbook for important introductory business principles and concepts. Featuring a highly organized, objective-driven structure, the text incorporates relevant, contemporary examples and trends from the business world.

Now 16 chapters (down from 20), the 9th Edition has been streamlined to better match the needs of the course. New material, visuals and assessment questions cover the full spectrum of contemporary business topics without filler or fluff. So you can focus on what’s important: developing the skills today’s business leaders are looking for.

Table of Contents:

Business in Action
Contents in Brief
Contents
New to This Edition
Solving Teaching and Learning Challenges
Developing Employability Skills
Instructor Teaching Resources
Prologue
Part 1 Setting the Stage: The Business of Business
1 Developing a Business Mindset
LEARNING OBJECTIVES
Introduction
Understanding What Businesses Do
Adding Value: The Business of Business
Competing to Attract and Satisfy Customers
Accepting Risks in the Pursuit of Rewards
Identifying Major Types of Businesses
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Making the Leap from Buyer to Seller
Seeing Business from the Inside Out
Appreciating the Role of Business in Society
Using This Course to Jump-Start Your Career
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Recognizing the Multiple Environments of Business
The Social Environment
The Technological Environment
The Economic Environment
The Legal and Regulatory Environment
The Market Environment
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Identifying the Major Functional Areas in a Business Enterprise
Research and Development
Manufacturing, Production, and Operations
Marketing, Sales, Distribution, and Customer Support
Finance and Accounting
Human Resources
Business Services
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Exploring Careers in Business
Operations Manager
Human Resources Specialist
Information Technology Manager
Marketing Specialist
Sales Professional
Accountant
Financial Manager
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Achieving Professionalism
Striving to Excel
Being Dependable and Accountable
Being a Team Player
Demonstrating Etiquette
Communicating Effectively
Making Ethical Decisions
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Disruptive Technologies and Digital Transformation
Disruptive Innovations
Digital Transformation
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Developing Skills for Your Career
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Text Mining
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
2 Economics, Money, and Banking
LEARNING OBJECTIVES
Introduction
What Is This Thing Called the Economy?
Factors of Production
The Economic Impact of Scarcity
Economic Measures and Monitors
Price Indexes
National Economic Output
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Economic Systems
The Spectrum of Economic Systems
Nationalization and Privatization
Government’s Role in a Free-Market System
Protecting Stakeholders
Fostering Competition
Antitrust Legislation
Merger and Acquisition Approvals
Encouraging Innovation and Economic Development
Stabilizing and Stimulating the Economy
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Forces of Demand and Supply
Understanding Demand
Understanding Supply
Understanding How Demand and Supply Interact
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Macro View: Understanding How an Economy Operates
Competition in a Free-Market System
Business Cycles
Unemployment
Inflation
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Money’s Role in Business
The Meaning of Money
Fiat Money and Cryptocurrency
The Money Supply
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Banking Institutions and Services
The Federal Reserve
The Fed’s Major Responsibilities
The Fed’s Tools for Implementing Monetary Policy
The Federal Funds Rate
The Discount Rate
Other Government Banking Agencies and Institutions
Investment Banks
Commercial Banks
Other Financial Services
Banking’s Role in the Economy
The Too-Big-to-Fail Dilemma
The Boundaries of Investment Banking and Commercial Banking
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Fintech
Making Financial Services More Inclusive
Improving THE Efficiency of Financial Activities
Strengthening THE Security of Financial Systems
Improving the Customer Experience in Financial Services
Enhancing Financial Decision-Making
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Robo Advisers
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
3 The Global Marketplace
LEARNING OBJECTIVES
Introduction
Fundamentals of International Trade
Why Nations Trade
How International Trade Is Measured
Foreign Exchange Rates and Currency Valuations
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Conflicts in International Trade
Free Trade
Government Intervention in International Trade
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
International Trade Organizations
Organizations Facilitating International Trade
The World Trade Organization
The International Monetary Fund
The World Bank
Trading Blocs
North American Free Trade Agreement
The European Union
The Asia-Pacific Economic Cooperation
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
The Global Business Environment
Cultural Differences in the Global Business Environment
Legal Differences in the Global Business Environment
Tax Havens
Bribery
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Forms of International Business Activity
Importing and Exporting
International Licensing
International Franchising
International Strategic Alliances and Joint Ventures
Foreign Direct Investment
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Strategic Approaches to International Markets
Organizational Strategies for International Expansion
Functional Strategies for International Expansion
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: AI-Assisted Translation
Text Translation
Real-Time Voice Translation
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Automated Translation
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
4 Business Ethics and Corporate Social Responsibility
LEARNING OBJECTIVES
Introduction
Ethics in Contemporary Business
Defining Ethical Behavior
Forces That Promote Unethical Behavior
Management Pressure and Corporate Culture
Millions of Phony Bank Accounts
Falsified Pollution Data
A Willful Blindness to Harm
The Opioid Crisis
The Destructive Downside of Social Media
A Sense of Impunity
Strategies for Supporting Ethical Behavior
Guidelines for Making Ethical Decisions
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Corporate Social Responsibility
The Relationship Between Business and Society
Philanthropy Versus Strategic CSR
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Perspectives on Corporate Social Responsibility
Minimalist CSR
Defensive CSR
Cynical CSR
The Proactive Stance: Moving Beyond CSR
Resolving the CSR Dilemma
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
CSR: The Natural Environment
Efforts to Conserve Resources and Reduce Pollution
The Trend Toward Sustainability
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
CSR: Consumers
The Right to Buy Safe Products
The Right to Be Informed
The Right to Choose Which Products to Buy
The Right to Be Heard
The Right to Digital Security
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
CSR: Employees
The Push for Equality in Employment
Affirmative Action
People with Disabilities
Workplace Safety
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: The Ethics of Artificial Intelligence
Human Biases Embedded in AI Systems
Lack of Transparency and Accountability
The Efforts to Make AI a Force for Good
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Assistive Technologies
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
Part 2 Building the Framework: Business Ownership and Entrepreneurship
5 Forms of Ownership
LEARNING OBJECTIVES
Introduction
Sole Proprietorships
Learning Objective 1
Advantages of Sole Proprietorships
Disadvantages of Sole Proprietorships
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Partnerships
Advantages of Partnerships
Disadvantages of Partnerships
Keeping It Together: The Partnership Agreement
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Corporations
Advantages of Corporations
Disadvantages of Corporations
Special Types of Corporations
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Corporate Governance
Shareholders
Board of Directors
Corporate Officers
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Mergers and Acquisitions
Advantages of Mergers and Acquisitions
Disadvantages of Mergers and Acquisitions
Merger and Acquisition Defenses
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Strategic Alliances and Joint Ventures
Strategic Alliances
Joint Ventures
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Big Data and Analytics
Big Data
Analytics
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Data Mining
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
6 Entrepreneurship and Small-Business Ownership
LEARNING OBJECTIVES
Introduction
The Big World of Small Business
Economic Roles of Small Businesses
Characteristics of Small Businesses
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Entrepreneurial Spirit
Why People Start Their Own Companies
Qualities of Successful Entrepreneurs
Innovating Without Leaving: Intrapreneurship
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Start-Up Phase: Planning and Launching a New Business
Small-Business Ownership Options
Blueprint for an Effective Business Plan
Lean Business Planning
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Growth Phase: Nurturing and Sustaining a Young Business
The New-Business Failure Rate
Pivoting: When a Better Idea Comes Along
Advice and Support for Business Owners
Government Agencies and Not-for-Profit Organizations
Business Partners
Mentors and Advisory Boards
Networks and Support Groups
Business Incubators and Accelerators
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Financing Options for Small Businesses
Private Financing
Banks and Microlenders
Venture Capitalists
Angel Investors
Credit Cards and Personal Lines of Credit
Small Business Administration Assistance
Public Financing
Crowdfunding
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Franchise Alternative
Types of Franchises
The Money Side of Franchising
Initial Franchising Costs
Ongoing Franchising Costs
Advantages of Franchising
Disadvantages of Franchising
How to Evaluate a Franchising Opportunity
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Machine Learning and Deep Learning
Going Deeper with Deep Learning
The Business Side of Machine Learning and Deep Learning
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Deep Learning
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
Part 3 Guiding the Enterprise: Leadership, Organization, and Operations
7 Management Roles, Functions, and Skills
LEARNING OBJECTIVES
Introduction
The Roles of Management
Interpersonal Roles
Informational Roles
Decisional Roles
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
The Planning Function
Defining the Company’s Purpose and Values
Assessing Strengths, Weaknesses, Opportunities, and Threats
Developing Forecasts
Analyzing the Competition
Establishing Goals and Objectives
Developing Action Plans
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Organizing Function
Top Managers
Middle Managers
First-Line Managers
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Leading Function
Developing an Effective Leadership Style
Coaching and Mentoring
Managing Change
Building a Positive Organizational Culture
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Controlling Function
The Control Cycle
Establishing Performance Standards
Measuring Performance and Responding as Needed
Crisis Management: Maintaining Control in Extraordinary Circumstances
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Essential Management Skills
Interpersonal Skills
Technical Skills
Conceptual Skills
Decision-Making Skills
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Cognitive Automation
The Cold Truth About Decision-Making
AI to the (Possible) Rescue
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Cognitive Automation
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
8 Organization and Teamwork
LEARNING OBJECTIVES
Introduction
Designing an Effective Organization Structure
Identifying Core Competencies
Identifying Job Responsibilities
Defining the Chain of Command
Span of Management
Centralization Versus Decentralization
Rethinking Organization in the Age of Agility
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Organizing the Workforce
Functional Structures
Divisional Structures
Matrix Structures
Network Structures
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Organizing in Teams
What Is a Team?
Types of Teams
Problem-Solving Teams
Self-Managed Teams
Functional Teams
Cross-Functional Teams
Virtual Teams
Advantages of Virtual Teams
Disadvantages of Virtual Teams
Social Networks and Virtual Communities
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Ensuring Team Productivity
Advantages and Disadvantages of Working in Teams
Characteristics of Effective Teams
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Fostering Teamwork
Team Development
Team Conflict
Sources of Team Conflict
Solutions to Team Conflict
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Managing an Unstructured Organization
Potential Benefits of Unstructured Organizations
Potential Challenges of Unstructured Organizations
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Thriving in the Digital Enterprise: Taskbots and Robotic Process Automation
Taskbots
Robotic Process Automation
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Communication Technology: Robotic Process Automation
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
9 Production Systems
LEARNING OBJECTIVES
Introduction
The Systems View of Business
Thinking in Systems
Managing Systems for Peak Performance
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Value Chains and Value Webs
Extending Organizations with Value Webs
The Offshoring Controversy
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Supply Chain Management
The Strategic Role of Supply Chain Management
Supply Chain Systems and Methods
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Production and Operations Management
Lean Systems
Mass Production, Customized Production, and Mass Customization
Facilities Location and Design
Forecasting and Capacity Planning
Scheduling
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Unique Challenges of Service Delivery
Perishability
Location Constraints
Scalability Challenges and Opportunities
Performance Variability and Perceptions of Quality
Customer Involvement and Service Provider Interaction
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Product and Process Quality
Quality and Complexity
Strategies for Ensuring Product Quality
Continuous Improvement
Statistical Process Control
Six Sigma
ISO 9000
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Industry 4.0 and the Smart Factory
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology
Practice Your Skills
Resolving Ethical Dilemmas
Growing as Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
Part 4 Supporting the Workforce: Motivation and Human Resources
10 Employee Motivation
LEARNING OBJECTIVES
Introduction
What Motivates Employees to Peak Performance?
What Is Motivation?
Classical Theories of Motivation
Taylor’s Scientific Management
The Hawthorne Studies and the “Hawthorne Effect”
Maslow’s Hierarchy of Needs
Theory X and Theory Y
Herzberg’s Two Factors
McClelland’s Three Needs
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Explaining Employee Choices
Expectancy Theory
Equity Theory
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Motivating with Challenging Goals
Management by Objectives
Risks and Limitations of Goal-Setting Theory
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Redesigning Jobs to Stimulate Performance
The Job Characteristics Model
Approaches to Modifying Core Job Dimensions
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Reinforcing High-Performance Behavior
Types of Reinforcement
Unintended Consequences of Reinforcement
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Motivational Strategies
Providing Timely and Frequent Feedback
Making It Personal
Gamifying for Healthy Competition
Addressing Workplace Negativity
Being an Inspiring Leader
Motivating Yourself
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Performance Management Systems
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Performance Management Systems
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
11 Human Resources Management
LEARNING OBJECTIVES
Introduction
Guiding the Human Side of Business
Contemporary HR Challenges
Aligning the Workforce with Business Requirements
Creating Safe Workplaces
Ensuring Fair Treatment and Equal Opportunity
Fairness in Recruiting
Fairness in Employee Development
Transparent and Inclusive Networking Opportunities
Fairness in Project Assignments and Promotion Opportunities
Fairness in Compensation
Promoting Employee Well-Being
The Evolving Role of HR
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Managing a Diverse Workforce
Dimensions of Workforce Diversity
Age
Gender
Race and Ethnicity
Religion
Ability
Diversity and Inclusion Initiatives
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Managing the Employment Life Cycle
Planning for a Company’s Staffing Needs
Evaluating Job Requirements
Forecasting Supply and Demand
Alternative Work Arrangements
Hiring Employees
Managing Employee Retirement
Terminating Employment
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Developing and Evaluating Employees
Appraising Employee Performance
Training and Developing Employees
Promoting and Reassigning Employees
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Compensating and Supporting Employees
Salaries and Wages
Incentive Programs
Employee Benefits
Insurance
Retirement Benefits
Stock Options
Other Employee Benefits
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Understanding the Role of Labor Unions in Today’s Business World
Unionization: The Employee’s Perspective
Unionization: Management’s Perspective
The Future of Organized Labor
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Workforce Analytics
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Blind Auditions
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
Part 5 Satisfying the Customer: Marketing, Sales, and Customer Support
12 The Art and Science of Marketing
LEARNING OBJECTIVES
Introduction
Marketing in a Changing World
The Role of Marketing in Society
Needs and Wants
Exchanges and Transactions
The Four Utilities
The Marketing Concept
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Challenges in Contemporary Marketing
Involving the Customer in the Marketing Process
Making Data-Driven Marketing Decisions
Marketing with Greater Concern for Ethics and Etiquette
Marketing as Part of a Sustainable Business Strategy
Creating Satisfying Customer Experiences
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Understanding Today’s Customers
The Consumer Decision Process
The Organizational Customer Decision Process
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Identifying Market Opportunities
Examining the Current Marketing Situation
Reviewing Performance
Evaluating Competition
Examining Internal Strengths and Weaknesses
Analyzing the External Environment
Assessing Opportunities and Setting Objectives
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Crafting a Marketing Strategy
Dividing Markets into Segments
Choosing Your Target Markets
Staking out a Position in Your Target Markets
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The Marketing Mix
Products
Pricing
Distribution
Customer Communication
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Marketing Analytics
Major Goals of Marketing Analytics
Data Sources for Marketing Analytics
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Marketing Analytics
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
13 Product Management and Pricing Strategies
LEARNING OBJECTIVES
Introduction
Characteristics of Products
Types of Products
Consumer Products
Industrial and Commercial Products
The Product Life Cycle
Introduction
Growth
Maturity
Decline
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
The New-Product Development Process
Idea Generation
Idea Screening
Business Analysis
Prototype Development
Test Marketing
Commercialization
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Product Identities
Brand Name Selection
Brand Ownership
Packaging
Labeling
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Product-Line and Product-Mix Strategies
Product Lines
Product Mix
Product Expansion Strategies
Product Strategies for International Markets
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Pricing Strategies
Strategic Considerations in Pricing
Cost Structure and Break-Even Analysis
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Pricing Methods
Foundational Pricing Methods
Cost-Based Pricing
Value-Based Pricing
Competition-Based Pricing
Situational Pricing Methods
Algorithmic Pricing
Life-Cycle Pricing
Loss-Leader Pricing
Auctions and Participative Pricing
Free and Freemium Pricing
Subscription Pricing
Price Adjustment Tactics
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Virtual and Augmented Reality
Virtual Reality
Augmented Reality
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technologies: Yield Management
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
14 Customer Communication and Product Distribution
LEARNING OBJECTIVES
Introduction
Customer Communication: Challenges, Strategies, and Issues
Establishing Communication Goals
Defining Customer Messages
Assembling the Communication Mix
Inbound Versus Outbound Marketing
Integrated Marketing Communications
Communication Laws and Ethics
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Advertising and Direct Response Marketing
Advertising
Advertising Appeals
Advertising Media
Direct Response Marketing
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Personal Selling
Contemporary Personal Selling
The Personal Selling Process
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Sales Promotion
Consumer Promotions
Trade Promotions
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Social Media and Public Relations
Social Media in the Marketing Process
Marketing Communication Strategies for Social Media
Brand Communities
Social Customer Care
Public Relations
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Product Distribution and Marketing Intermediaries
The Role of Marketing Intermediaries
Wholesaling and Industrial Distribution
Retailing
Retailing’s Role in the Buying Process
The Challenging Economics of Retailing
The Outlook for Retailing: Innovation, Disruption, and the Great Divide
Manufacturers’ Distribution Decisions
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Augmented and Automated Writing
Augmented Writing
Automated Writing
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Communication Technology: Individualized Advertising
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
Part 6 Managing the Money: Accounting and Financial Resources
15 Financial Information and Accounting Concepts
LEARNING OBJECTIVES
Introduction
Understanding Accounting
What Accountants Do
Private Accountants
Public Accountants
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Major Accounting Rules
Generally Accepted Accounting Principles (GAAP)
Non-GAAP Metrics
Global Reporting Standards
Sarbanes-Oxley
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Fundamental Accounting Concepts
The Accounting Equation
Double-Entry Bookkeeping and the Matching Principle
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Using Financial Statements: The Balance Sheet
Understanding Financial Statements
Balance Sheet
Assets
Liabilities
Owners’ Equity
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Using Financial Statements: Income and Cash Flow Statements
Income Statement
Statement of Cash Flows
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Analyzing Financial Statements
Trend Analysis
Ratio Analysis
Types of Financial Ratios
Profitability Ratios
Liquidity Ratios
Activity Ratios
Leverage, or Debt, Ratios
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Distributed Ledgers and Blockchain
The Not-So-Simple Process of Recording Transactions
Rethinking the Ledger
Business Benefits and Applications of Blockchain
Blockchain in Financial Services
Blockchain in Supply Chain Management
Blockchain in Human Resources
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: GRC Software
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
16 Financial Management and Financial Markets
LEARNING OBJECTIVES
Introduction
The Role of Financial Management
Developing a Financial Plan
Monitoring Cash Flow
Managing Accounts Receivable and Accounts Payable
Managing Inventory
Managing Cash Reserves
The Budgeting Process
Budgeting Challenges
Types of Budgets
Learning Objective 1:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Financing Alternatives: Factors to Consider
Debt Financing Versus Equity Financing
Length of Term
Cost of Capital
Risk
Interest Rates
Opportunity Cost
Learning Objective 2:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Financing Alternatives: Debt Financing
Short-Term Debt Financing
Credit Cards
Trade Credit
Secured Loans
Unsecured Loans
Commercial Paper
Factoring
Long-Term Debt Financing
Long-Term Loans
Leases
Corporate Bonds
Learning Objective 3:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Financing Alternatives: Equity
Venture Capital and Other Private Equity
Public Stock Offerings
Learning Objective 4:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
Financial Markets
The Stock Market
The Bond Market
The Money Market
The Derivatives Market
Learning Objective 5:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Investment Strategies and Techniques
Establishing Investment Objectives
Learning to Analyze Financial News
Creating an Investment Portfolio
Buying and Selling Securities
Learning Objective 6:
Summary:
Critical Thinking:
It’s Your Business:
Key Terms to Know:
Thriving in the Digital Enterprise: Smart Contracts
Learning Objective 7:
Summary:
Critical Thinking:
It’s Your Business:
Key Term To Know:
End of Chapter
Key Terms
Test Your Knowledge
Questions for Review
Questions for Analysis
Questions for Application
Expand Your Knowledge
Discovering Career Opportunities
Intelligent Business Technology: Credit Scoring Software
Practice Your Skills
Resolving Ethical Dilemmas
Growing as a Professional
Sharpening Your Communication Skills
Building Your Team Skills
Developing Your Research Skills
Endnotes
APPENDIX A Business Law
The U.S. Legal System
Sources of Law
Statutory Law
Administrative Law
Common Law
Major Concepts in Business Law
Torts
Contracts
Elements of a Contract
Contract Performance
Warranties
Agency
Property Transactions
Patents, Trademarks, and Copyrights
Patents
Trademarks
Copyrights
Negotiable Instruments
Bankruptcy
TEST YOUR KNOWLEDGE
Questions for Review
Questions for Analysis
Appendix A Glossary
Endnotes
APPENDIX B Risk Management
The Business of Risk
Understanding Risk and Loss Exposure
Assessing Risk
Controlling Risk
Shifting Risk to a Third Party
Property Insurance
Business Interruption Insurance
Liability Insurance
Key Person Insurance
Self-Insuring Against Risk
Insuring the Health and Well-Being of Employees
Health Insurance
Disability Income and Workers’ Compensation Insurance
Life Insurance
TEST YOUR KNOWLEDGE
Questions for Review
Questions for Analysis
Appendix B Glossary
Endnotes
APPENDIX C Information Technology
Information Systems
How Businesses Use Information
Types of Business Information Systems
Operational Systems
Professional and Managerial Systems
Information Systems Management Issues
Ensuring Security and Privacy
Protecting Property Rights
Guarding Against Information Overload
Monitoring Productivity and Misuse
Managing Total Cost of Ownership
Developing Employee Skills
Maintaining the Human Touch
TEST YOUR KNOWLEDGE
Questions for Review
Questions for Analysis
Appendix C Glossary
Endnotes
APPENDIX D Personal Finance: Getting Set for Life
Taking Control of Your Financial Life
Three Simple—but Vital—Financial Lessons
The Value of Your Money Is Constantly Changing
Small Sacrifices Early in Life Can Produce Big Payoffs
Every Decision Involves Trade-Offs
Creating Your Personal Financial Plan
Figure Out Where You Are Now
Set Realistic Financial Goals
Create and Implement a Practical Financial Plan
Periodically Measure Your Progress
Adjust Your Goals and Plans as Needed
Life Stage 1: Getting Through College
Financing Your Education
Staying Out of the Credit Card Black Hole
Life Stage 2: Building Your Financial Foundation
Paying for Transportation
Paying for Housing
Maximizing Your Earning Power
Managing Cash
Managing Credit
Life Stage 3: Increasing Your Net Worth and Preparing for Life’s Major Expenses
Investing: Building Your Nest Egg
Taxes: Minimizing the Bite
Insurance: Protecting Yourself, Your Family, and Your Assets
Life Stage 4: Plan for a Secure, Independent Retirement
TEST YOUR KNOWLEDGE
Questions for Review
Questions for Analysis
Appendix D Glossary
Endnotes
Glossary
Brand, Organization, and Name Index
Subject Index

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