Lýsing:
Business in Action remains the premier text for important introductory business principles and concepts. Featuring a highly organized, objective-driven structure, it incorporates relevant, contemporary examples and trends from the business world. From the life-changing impact of the pandemic to the prospect of conducting business in the metaverse to a spark of hope in the union movement, the past several years have been momentous for business.
Annað
- Höfundar: Courtland L. Bovee, John V. Thill
- Útgáfa:10
- Útgáfudagur: 2023-05-04
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- Format:Page Fidelity
- ISBN 13: 9781292721682
- Print ISBN: 9781292721651
- ISBN 10: 1292721685
Efnisyfirlit
- Title Page
- Copyright
- Pearson’s Commitment to Diversity, Equity, and Inclusion
- Untitled
- Dedication
- Contents in Brief
- Contents
- New to This Edition
- Solving Learning and Teaching Challenges
- Developing Employability Skills
- Instructor Teaching Resources
- About the Authors
- Acknowledgments
- Prologue: Using This Course to Launch Your Business Career
- Part 1: Setting the Stage: The Business of Business
- Chapter 1. Developing a Business Mindset
- Behind The Scenes: Can Software That Reads Faces Create a New Business?
- 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
- Adding Value: The Business of Business
- 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
- Recognizing the Multiple Environments of Business
- The Social Environment
- The Technological Environment
- The Economic Environment
- The Legal and Regulatory Environment
- The Market Environment
- 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
- Exploring Careers in Business
- Operations Manager
- Human Resources Specialist
- Information Technology Manager
- Marketing Specialist
- Sales Professional
- Accountant
- Financial Manager
- Achieving Professionalism
- Striving to Excel
- Being Dependable and Accountable
- Being a Team Player
- Demonstrating Etiquette
- Communicating Effectively
- Making Ethical Decisions
- Thriving in the Digital Enterprise: Disruptive Technologies and Digital Transformation
- Disruptive Innovations
- Predicting the Path of Disruptive Innovations
- Fine-Tuning Your Personal Hype Detector
- Digital Transformation
- Disruptive Innovations
- Developing Skills for Your Career
- Behind The Scenes: An Unexpected Turn Launches an Innovative New Company
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 2. Economics, Money, and Banking
- Behind The Scenes: Gig Wage: Reinventing Financial Systems for a New World of Work
- 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
- Economic Systems
- The Spectrum of Economic Systems
- Nationalization and Privatization
- Government’s Role in a Free-Market System
- Protecting Stakeholders
- Fostering Competition
- Encouraging Innovation and Economic Development
- Stabilizing and Stimulating the Economy
- The Spectrum of Economic Systems
- Chapter 1. Developing a Business Mindset
- The Forces of Demand and Supply
- Understanding Demand
- Understanding Supply
- Understanding How Demand and Supply Interact
- The Macro View: Understanding How an Economy Operates
- Competition in a Free-Market System
- Business Cycles
- Unemployment
- Inflation
- Money’s Role in Business
- The Meaning of Money
- Fiat Money, Cryptocurrency, and NFTs
- The Money Supply
- Banking Institutions and Services
- The Federal Reserve
- The Fed’s Major Responsibilities
- The Fed’s Tools for Implementing Monetary Policy
- Other Government Banking Agencies and Institutions
- Investment Banks
- Commercial Banks
- Other Financial Services
- Banking’s Role in the Economy
- Shadow Banking
- The “Too-Big-to-Fail” Dilemma
- The Boundaries of Investment Banking and Commercial Banking
- The Federal Reserve
- 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
- Behind The Scenes: Airbnb: From Making a Few Bucks to Disrupting the Global Travel Industry
- Introduction
- Fundamentals of International Trade
- Why Nations Trade
- How International Trade Is Measured
- Foreign Exchange Rates and Currency Valuations
- Conflicts in International Trade
- Free Trade
- Government Intervention in International Trade
- International Trade Organizations
- Organizations Facilitating International Trade
- The World Trade Organization
- The International Monetary Fund
- The World Bank
- Trading Blocs
- Canada, Mexico, and the United States
- The European Union
- Asia-Pacific Economic Cooperation
- Organizations Facilitating International Trade
- Cultural Differences in the Global Business Environment
- Legal Differences in the Global Business Environment
- Tax Havens
- Bribery
- Importing and Exporting
- International Licensing
- International Franchising
- International Strategic Alliances and Joint Ventures
- Foreign Direct Investment
- Organizational Strategies for International Expansion
- Functional Strategies for International Expansion
- Text Translation
- Real-Time Voice Translation
- Behind The Scenes: Bethany Yellowtail: Creating an Authentic Business and Lifting Her Community
- Introduction
- Ethics in Contemporary Business
- Defining Ethical Behavior
- Forces That Promote Unethical Behavior
- Management Pressure and Corporate Culture
- A Willful Blindness to Harm
- Strategies for Supporting Ethical Behavior
- Guidelines for Making Ethical Decisions
- Corporate Social Responsibility
- The Relationship Between Business and Society
- Taking Sides on Public Issues: Stakeholder Expectations and Company Viewpoints
- Philanthropy Versus Strategic CSR
- Perspectives on Corporate Social Responsibility
- Minimalist CSR
- Defensive CSR
- Cynical CSR
- The Proactive Stance: Moving Beyond CSR
- Resolving the CSR Dilemma
- CSR: The Natural Environment
- Business Efforts to Conserve Resources and Reduce Pollution
- Sustainability and the Circular Economy
- 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
- The Right to Equitable Service
- CSR: Employees
- Equality in Employment Opportunity
- Fair Compensation
- Working Conditions
- Thriving in the Digital Enterprise: The Ethics of Artificial Intelligence
- Human Biases Embedded in AI Systems
- Lack of Transparency and Explainability
- The Efforts to Make AI a Force for Good
- Behind The Scenes: Bethany Yellowtail Builds a Business That Is More Than a Business
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 5. Forms of Ownership
- Behind The Scenes: DoorDash Looks for Ways to Grow Beyond Pandemic Demand
- Introduction
- Sole Proprietorships
- Advantages of Sole Proprietorships
- Disadvantages of Sole Proprietorships
- Partnerships
- Advantages of Partnerships
- Disadvantages of Partnerships
- Keeping It Together: The Partnership Agreement
- Corporations
- Advantages of Corporations
- Disadvantages of Corporations
- Special Types of Corporations
- Corporate Governance
- Shareholders
- Board of Directors
- Corporate Officers
- Mergers, Acquisitions, and Divestitures
- Advantages of Mergers and Acquisitions
- Disadvantages of Mergers and Acquisitions
- Merger and Acquisition Defenses
- Corporate Divestitures
- Strategic Alliances and Joint Ventures
- Strategic Alliances
- Joint Ventures
- Thriving in the Digital Enterprise: Big Data and Analytics
- Big Data
- Analytics
- Behind The Scenes: DoorDash Bulks Up for Post-Pandemic Life
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 6. Entrepreneurship and Small-Business Ownership
- Behind The Scenes: Alyza James: Carrying On One Tradition and Starting Another
- Introduction
- The Big World of Small Business
- Economic Roles of Small Businesses
- Characteristics of Small Businesses
- The Entrepreneurial Spirit
- Why People Start Their Own Companies
- Qualities of Successful Entrepreneurs
- Innovating Without Leaving: Intrapreneurship
- The Start-Up Phase: Planning and Launching a New Business
- Small-Business Ownership Options
- Blueprint for an Effective Business Plan
- Lean Business Planning
- 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
- Financing Options for Small Businesses
- Private Financing
- Banks and Microlenders
- Venture Capitalists
- Angel Investors
- Corporate Sponsors
- Credit Cards and Personal Lines of Credit
- Small Business Administration Assistance
- Public Financing
- Crowdfunding
- Private Financing
- 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
- Thriving in the Digital Enterprise: Machine Learning and Deep Learning
- Giving Computers the Ability to Learn
- Applying Machine Learning in Business
- Behind The Scenes: Alyza James Finds a New Purpose in Her Purpose-Driven Business
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 7. Management Roles, Functions, and Skills
- Behind The Scenes: AMD: An Innovative Company Gets Help from Innovative Business Management
- Introduction
- The Roles of Management
- Interpersonal Roles
- Informational Roles
- Decisional Roles
- 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
- The Organizing Function
- Top Managers
- Middle Managers
- First-Line Managers
- The Leading Function
- Developing an Effective Leadership Style
- Coaching and Mentoring
- Managing Change
- Building a Positive Organizational Culture
- The Controlling Function
- The Control Cycle
- Establishing Performance Standards
- Measuring Performance and Responding as Needed
- Crisis Management: Maintaining Control in Extraordinary Circumstances
- The Control Cycle
- Essential Management Skills
- Interpersonal Skills
- Technical Skills
- Conceptual Skills
- Decision-Making Skills
- Thriving in the Digital Enterprise: Cognitive Automation
- The Cold Truth About Decision-Making
- AI to the (Possible) Rescue
- Behind The Scenes: Lisa Su Pulls Off the Impossible at AMD
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 8. Organization and Teamwork
- Behind The Scenes: Gojek: The Challenges of Growth
- 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
- Organizing the Workforce
- Functional Structures
- Divisional Structures
- Matrix Structures
- Network Structures
- Distributed and Hybrid Workplaces
- Organizing in Teams
- What Is a Team?
- Types of Teams
- Problem-Solving Teams
- Self-Managed Teams
- Functional Teams
- Cross-Functional Teams
- Virtual and Hybrid Teams
- Social Networks and Virtual Communities
- Ensuring Team Productivity
- Advantages and Disadvantages of Working in Teams
- Characteristics of Effective Teams
- Fostering Teamwork
- Team Development
- Team Conflict
- Sources of Team Conflict
- Solutions to Team Conflict
- Potential Benefits of Unstructured Organizations
- Potential Challenges of Unstructured Organizations
- Taskbots
- Robotic Process Automation
- Behind The Scenes: Reinventing Manufacturing for a Rapidly Changing World
- Introduction
- The Systems View of Business
- Thinking in Systems
- Managing Systems for Peak Performance
- Value Chains and Value Webs
- Extending Organizations with Value Webs
- Offshoring and Reshoring
- Supply Chain Management
- The Strategic Role of Supply Chain Management
- Supply Chain Systems and Methods
- Production and Operations Management
- Lean Systems and Make to Order Manufacturing
- Mass Production, Customized Production, and Mass Customization
- Facilities Location and Design
- Forecasting and Capacity Planning
- Scheduling
- The Unique Challenges of Service Delivery
- Perishability
- Location Constraints and Virtual Service Delivery
- Scalability Challenges and Opportunities
- Performance Variability and Perceptions of Quality
- Customer Involvement and Service Provider Interaction
- Product and Process Quality
- Quality and Complexity
- Strategies for Ensuring Product Quality
- Continuous Improvement
- Statistical Process Control
- Six Sigma
- ISO 9000
- Chapter 10. Employee Motivation
- Behind The Scenes: Eric Yuan Designs a New Dream
- 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
- Explaining Employee Choices
- Expectancy Theory
- Equity Theory
- The Four-Drive Theory
- Motivating with Challenging Goals
- Management by Objectives
- Risks and Limitations of Goal-Setting Theory
- Redesigning Jobs to Stimulate Performance
- The Job Characteristics Model
- Approaches to Modifying Core Job Dimensions
- Reinforcing High-Performance Behavior
- Types of Reinforcement
- Unintended Consequences of Reinforcement
- Motivational Strategies in the New World of Work
- Beyond Money: Motivating with Meaningful Purpose
- Providing Timely and Frequent Feedback
- Making It Personal
- Gamifying for Healthy Competition
- Addressing Workplace Negativity
- Being an Inspiring Leader
- Motivating Yourself and Avoiding Burnout
- Thriving in the Digital Enterprise: Performance Management Systems
- Behind The Scenes: Zoom’s Eric Yuan Built Himself a Happier Job—and One of the World’s Most In
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Behind The Scenes: L’Oréal China’s Recruitment Problem
- Introduction
- Guiding the Human Side of Business
- Contemporary HR Challenges
- Aligning the Workforce with Business Requirements
- Creating Safe and Healthy Workplaces
- Ensuring Fair Treatment and Equal Opportunity
- Creating a Sustainable Employee Experience
- The Evolving Role of HR
- Contemporary HR Challenges
- Managing a Diverse Workforce
- Diversity Considerations in the Contemporary Workplace
- Age
- Gender and Sexual Orientation
- Race and Ethnicity
- Religion
- Physical, Emotional, and Cognitive Traits
- Education, Economics, and Life Experience
- Diversity, Equity, and Inclusion Initiatives
- Diversity Considerations in the Contemporary Workplace
- 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
- Planning for a Company’s Staffing Needs
- Developing and Evaluating Employees
- Managing Employee Performance
- Training and Developing Employees
- Promoting and Reassigning Employees
- Compensating and Supporting Employees
- Salaries and Wages
- Incentive Programs
- Employee Benefits
- Insurance
- Retirement Benefits
- Stock Options
- Other Employee Benefits
- Unionization in the United States
- Union Organizing and Collective Bargaining
- Organizing Options for the Gig and Creator Economies
- Chapter 12. The Art and Science of Marketing
- Behind The Scenes: Lego: Creating the World’s Top Toy Brand One Brick at a Time
- Introduction
- Marketing in a Changing World
- The Role of Marketing in Society
- Needs and Wants
- Exchanges and Transactions
- The Four Utilities
- The Marketing Concept
- The Role of Marketing in Society
- Challenges in Contemporary Marketing
- Involving the Customer in the Marketing Process
- Making Data-Driven Decisions and Measuring Marketing ROI
- Attribution and ROI
- Marketing Research
- Marketing with Greater Concern for Ethics and Etiquette
- Marketing as Part of a Sustainable Business Strategy
- Creating Satisfying Customer Experiences
- Understanding Today’s Customers
- The Consumer Decision Process
- The Organizational Customer Decision Process
- 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
- Examining the Current Marketing Situation
- Crafting a Marketing Strategy
- Dividing Markets into Segments
- Choosing Your Target Markets
- Staking out a Position in Your Target Markets
- The Marketing Mix
- Products
- Pricing
- Distribution
- Customer Communication
- Thriving in the Digital Enterprise: Marketing Analytics
- Major Goals of Marketing Analytics
- Data Sources for Marketing Analytics
- Behind The Scenes: Lego Stacks Billions of Bricks to Become the World’s Most Valuable Toy Brand
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 13. Product Management and Pricing Strategies
- Behind The Scenes: OXO: Launching a Design Revolution with the Humble Vegetable Peeler
- Introduction
- Characteristics of Products
- Types of Products
- Consumer Products
- Industrial and Commercial Products
- The Product Life Cycle
- Introduction
- Growth
- Maturity
- Decline
- Types of Products
- The New-Product Development Process
- Idea Generation
- Idea Screening
- Business Analysis
- Prototype Development
- Test Marketing
- Commercialization
- Product Identities
- Brand Name Selection
- Brand Ownership
- Packaging
- Labeling
- Product-Line and Product-Mix Strategies
- Product Lines
- Product Mix
- Product Expansion Strategies
- Product Strategies for International Markets
- Pricing Strategies
- Strategic Considerations in Pricing
- Cost Structure and Break-Even Analysis
- 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
- Foundational Pricing Methods
- Thriving in the Digital Enterprise: AR, VR, and the Metaverse
- Augmented Reality
- Virtual Reality
- The Metaverse
- Behind The Scenes: OXO Gets a Handle on Universal Design
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Behind The Scenes: Tata Harper: Pursuing a More Natural Way to Care for Skin
- Introduction
- Customer Communication: Challenges, Strategies, and Issues
- Establishing Communication Goals
- Defining Customer Messages
- Assembling the Communication Mix
- Inbound Versus Outbound Marketing
- Integrated Marketing Communications
- The Power of Personalization
- Communication Laws and Ethics
- Advertising and Direct Response Marketing
- Advertising
- Advertising Appeals
- Advertising Media
- Direct Response Marketing
- Advertising
- Personal Selling
- Contemporary Personal Selling
- The Personal Selling Process
- Sales Promotion
- Consumer Promotions
- Trade Promotions
- Social Media and Public Relations
- Social Media in the Marketing Process
- Marketing Communication Strategies for Social Media
- Brand Communities
- Social Customer Care
- Public Relations
- Social Media in the Marketing Process
- 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: More Disruption, More Innovation
- Manufacturers’ Distribution Decisions
- Thriving in the Digital Enterprise: AI-Enabled Marketing
- Communication and Customer Service
- Content Development
- Marketing Planning and Campaign Management
- Behind The Scenes: Staking Out a New Position in the Skin Care Market
- Key Terms
- Test Your Knowledge
- Expand Your Knowledge
- Practice Your Skills
- Chapter 15. Financial Information and Accounting Concepts
- Behind The Scenes: IBM: Accounting for the World’s Food Supply
- Introduction
- Understanding Accounting
- What Accountants Do
- Private Accountants
- Public Accountants
- Major Accounting Rules
- Generally Accepted Accounting Principles (GAAP)
- Non-GAAP Metrics
- Global Reporting Standards
- Sarbanes-Oxley
- Generally Accepted Accounting Principles (GAAP)
- Fundamental Accounting Concepts
- The Accounting Equation
- Double-Entry Bookkeeping and the Matching Principle
- Using Financial Statements: The Balance Sheet
- Understanding Financial Statements
- Balance Sheet
- Assets
- Liabilities
- Owners’ Equity
- Using Financial Statements: Income and Cash Flow Statements
- Income Statement
- Statement of Cash Flows
- Analyzing Financial Statements
- Trend Analysis
- Ratio Analysis
- Types of Financial Ratios
- Profitability Ratios
- Liquidity Ratios
- Activity Ratios
- Leverage, or Debt, Ratios
- 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
- Behind The Scenes: Building the Roadmap for Black Women Tech Founders
- 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
- Debt Financing Versus Equity Financing
- Length of Term
- Cost of Capital
- Risk
- Interest Rates
- Opportunity Cost
- 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
- Venture Capital and Other Private Equity
- Public Stock Offerings
- The Stock Market
- The Bond Market
- The Money Market
- The Derivatives Market
- Establishing Investment Objectives
- Learning to Analyze Financial News
- Creating an Investment Portfolio
- Buying and Selling Securities
- Appendix A: Business Law
- Appendix B: Risk Management
- Appendix C: Information Technology
- Appendix D: Personal Finance: Getting Set for Life
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