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Business in Action : With Real-Time Updates 4th Edition

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Business in Action, 4/e is an introduction to business that provides readers with a wealth of the most current information available, allowing them to experience firsthand a variety of highly involving information that no other book on the market can match. Numerous cases and examples simplify the material, encourage active reading, and provide a life-long useful reference source.

KEY TOPICS: Topics include: the global economy, starting and organizing a small business, management issues, human resources and employee relations, marketing strategies, and financial information and resources.

Contents
Preface
Prologue: Are You Ready for Success?
PART 1
DEVELOPING A BUSINESS MINDSET
Chapter 1 The Fundamentals of Business and Economics
BEHIND THE SCENES: Making Dollars and Sense of Online Music at Apple iTunes
Developing a Business Mind Set: How This Course Will Help Your Career
How This Affects You
Understanding What Business Does
Is Web 2.0 the Future or the Past Revisited?
Recognizing the Various Types of Businesses
Technologies That Are Revolutionizing Business: Instant Messaging
Understanding Economic Systems
Free-Market Systems
Planned Systems
Microeconomics: Understanding the Forces of Demand and Supply
Understanding Demand
Understanding Supply
Understanding How Demand and Supply Interact
Macroeconomics: Understanding How an Economy Operates
Competition in a Free-Market System
Government¿s Role in a Free-Market System
Fostering Competition
Antitrust Legislation
Merger and Acquisition Approvals
Regulation and Deregulation
Protecting Stakeholders
Contributing to Economic Stability
Monetary Policy
Fiscal Policy
How a Free-Market System Monitors Its Economic Performance
Watching Economic Indicators
Measuring Price Changes
Inflation and Deflation
Price Indexes
Measuring a Nation¿s Output
The Challenges You¿ll Face in the Global Economy
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Moving the Music at Apple iTunes
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Check Out This 24-Hour Business Library
Step Inside the Economic Statistics Briefing Room
Discover What¿s in the CPI
COMPANION WEBSITE
VIDEO CASE: HELPING BUSINESSES DO BUSINESS: U.S. DEPARTMENT OF COMMERCE
Chapter 2 Ethics and Corporate Social Responsibility
BEHIND THE SCENES: Protestors Pour on the Trouble for PepsiCo in India
Ethics and Social Responsibility in Contemporary Business
What Is Ethical Behavior?
Competing Fairly and Honestly
Communicating Truthfully
Wow, That Sure Was Nice of Kathy to Give Us Those Free Coupons!
Not Causing Harm to Others
Factors Influencing Ethical Behavior
Cultural Differences
Knowledge
Organizational Behavior
Lead Your Team with Ethical Behavior
How Do You Make Ethical Decisions?
Corporate Social Responsibility
The Relationship Between Business and Society
Perspectives on Corporate Social Responsibility
Philanthropy Versus Strategic CSR
Business¿s Efforts to Increase Social Responsibility
Responsibility Toward Society and the Environment
Efforts to Reduce Pollution
The Trend Toward Sustainability
Responsibility Toward 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
Responsibility Toward Investors
Responsibility Toward Employees
Learning from Business Blunders
The Push for Equality in Employment
Affirmative Action
People with Disabilities
Occupational Safety and Health
Ethics and Social Responsibility Around the World
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: PepsiCo Responds to Protests over Water Usage and Product Safety
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Build a Better Business
Surf Safely
Learn About Environmental Protection
COMPANION WEBSITE
VIDEO CASE: Doing the Right Thing: American Red Cross
Chapter 3 The Global Marketplace
BEHIND THE SCENES: MTV Base Africa: Extending the Reach of One of World¿s Biggest Media Brands
Fundamentals of International Trade
Why Nations Trade
How International Trade Is Measured
Free Trade and Fair Trade
Trade Restrictions
Agreements and Organizations Overseeing International Trade
The General Agreement on Tariffs and Trade (GATT)
The World Trade Organization (WTO)
The International Monetary Fund (IMF)
The World Bank
Trading Blocs
North American Free Trade Agreement (NAFTA)
The European Union (EU)
The Asia Pacific Economic Cooperation Council (APEC)
Foreign Exchange Rates and Currency Valuations
The Global Business Environment
Cultural Differences in the Global Business Environment
Studying Other Cultures
Legal Differences in the Global Business Environment
Forms of International Business Activity
Importing and Exporting
International Licensing
International Franchising
International Strategic Alliances and Joint Ventures
Foreign Direct Investment
Strategic Approaches to International Markets
Leaning from Business Blunders
Terrorism¿s Impact on the Global Business Environment
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: ADAPTING AN AMERICAN CULTURAL ICON TO THE AFRICAN MARKET
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Navigating Global Business Differences
Going Global
Banking on the World Bank
COMPANION WEBSITE
VIDEO CASE: Entering the Global Marketplace: Lands¿ End and Yahoo!
Chapter 4 Business Systems
BEHIND THE SCENES: Fulfilling Customized Dreams at Carvin Guitars
An Introduction to Systems Thinking
What Is a System?
Principles of Systems Thinking
The Business Model
Production Systems
Value Chains and Value Webs
Offshoring: Profits, Yes, But at What Cost?
Supply Chain Management
Supply Chains Versus Value Chains
Supply Chain Systems and Techniques
Production and Operations Management
Facilities Location and Design
Forecasting and Capacity Planning
Scheduling
Lean Systems
Advanced Technology on the Factory Floor
Mass Production, Customized Production, and Mass Customization
The Unique Challenges of Service Delivery
Product and Process Quality
Statistical Quality Control and Continuous Improvement
Total Quality Management and Six Sigma
Global Quality Standards
Information Systems
How Businesses Use Information
Types of Business Information Systems
Operational Systems
Professional and Managerial Systems
The Internet Revolution
Information Systems Management Issues
Ensuring Security and Privacy
Learning from Business Blunders
Protecting Property Rights
Guarding Against Information Overload
Monitoring Productivity
Managing Total Cost of Ownership
Developing Employee Skills
Maintaining the Human Touch
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Carvin¿s Production System Satisfies Demanding Guitarists
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Make Quality Count
Follow This Path to Continuous Improvement
Stay Informed with CIO
COMPANION WEBSITE
VIDEO CASE: Managing Production Around the World: Body Glove
PART 2
ORGANIZING THE BUSINESS ENTERPRISE
Chapter 5 Business Structures
BEHIND THE SCENES: Google Searches for a Solution to the Display Advertising Business
Choosing a Form of Business Ownership
Sole Proprietorships
Advantages of Sole Proprietorships
Disadvantages of Sole Proprietorships
Partnerships
Advantages of Partnerships
Disadvantages of Partnerships
Keeping It Together: The Partnership Agreement
Corporations
Ownership
Common Stock
Preferred Stock
Public Versus Private Ownership
Advantages of Corporations
Disadvantages of Corporations
Special Types of Corporations
Corporate Governance
Shareholders
Board of Directors
Understanding Mergers, Acquisitions, and Alliances
Mergers and Acquisitions
Advantages of Mergers and Acquisitions
Learning from Business Blunders
Disadvantages of Mergers and Acquisitions
Trends in Mergers and Acquisitions
Hey, Wanna Lose a Few Billion? Do We Have a Deal for You
Merger-and-Acquisition Defenses
Strategic Alliances and Joint Ventures
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Google Buys a Major Stake in the Online Display Ad Business
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Choose a Form of Ownership
Follow the Fortunes of the Fortune 500
Build a Great Board
COMPANION WEBSITE
VIDEO CASE: Doing Business Privately: Amy¿s Ice Cream
Chapter 6 Small Business and Entrepreneurship
BEHIND THE SCENES: GeniusBabies.com Builds a Smart Business
Understanding the World of Small Business
Economic Roles of Small Businesses
Characteristics of Small Businesses
Factors Contributing to the Increase in the Number of Small Businesses
E-Commerce and Other Technologies
Growing Diversity in Entrepreneurship
Downsizing and Outsourcing
Starting a Small Business
Characteristics of Entrepreneurs
Importance of Preparing a Business Plan
Blueprint for an Effective Business Plan
Small-Business Ownership Options
The Franchise Alternative
Types of Franchises
How to Evaluate a Franchise
Advantages of Franchising
Disadvantages of Franchising
Why New Businesses Fail
Learning from Business Blunders
Sources of Small-Business Assistance
Government Agencies and Nonprofit Organizations
Business Partners
Mentors and Advisory Boards
Print and Online Media
Networks
Business Incubators and Accelerators
Financing a New Business
Seeking Private Financing
Banks and Microlenders
Venture Capitalists
Angel Investors
Credit Cards
Small Business Administration Assistance
Going Public
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Another Web-Based Dream Becomes Reality at GeniusBabies.com
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Guide Your Way to Small-Business Success
Start a Small Business
Learn the ABCs of IPOs
COMPANION WEBSITE
VIDEO CASE Managing Growth at: Student Advantage
PART 3
MANAGING FOR PROFITABILITY
Chapter 7 Analyzing and Using Financial Information
BEHIND THE SCENES: Microsoft Looks for Ways to Unload a Mountain of Cash
Understanding Accounting
What Accountants Do
Learning from Business Blunders
Putting Accountability Back into Public Accounting
The Rules of Accounting
GAAP
Sarbanes-Oxley
Fundamental Accounting Concepts
The Accounting Equation
Double-Entry Bookkeeping and the Matching Principle
Using Financial Statements
Understanding Financial Statements
Balance Sheet
Assets
Liabilities
Owners¿ Equity
Income Statement
Statement of Cash Flows
Analyzing Financial Statements
Trend Analysis
How to Read an Annual Report
Ratio Analysis
Types of Financial Ratios
Profitability Ratios
Liquidity Ratios
Activity Ratios
Leverage, or Debt, Ratios
Understanding Financial Management
Developing and Implementing a Financial Plan
Monitoring Cash Flow
Developing a Budget
Securing Financing
Length of Term
Cost of Capital
Debt Versus Equity Financing
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Microsoft Hands Out Cash to Happy Shareholders
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Link Your Way to the World of Accounting
Sharpen Your Pencil
Think Like an Accountant
COMPANION WEBSITE
VIDEO CASE: Accounting for Billions of Burgers: McDonald¿s
Chapter 8 Banking and Securities
BEHIND THE SCENES: Charles Schwab Takes on the Titans of Wall Street
Money and Financial Institutions
Characteristics and Types of Money
Checking and Savings Accounts
Credit Cards, Debit Cards, and Smart Cards
Financial Institutions and Services
Deposit and Nondeposit Financial Institutions
Loans
Electronic Banking
Bank Safety and Regulation
The Evolving U.S. Banking Environment
Types of Securities Investments
Stocks
Common Stock
Preferred Stock
Bonds
Corporate Bonds
U.S. Government Securities and Municipal Bonds
Mutual Funds
Is an Index Fund Right for Your Financial Future?
Securities Markets
Evolution of Securities Markets
Regulation of Securities Markets
SEC Filing and Disclosure Requirements
Securities Fraud
Investment Strategies and Techniques
Learning from Business Blunders
Establishing Investment Objectives
Creating an Investment Portfolio
Buying and Selling Securities
Securities Brokers
Orders to Buy and Sell Securities
Analyzing Financial News
Put Your Money Where Your Mouse Is
Watching Market Indexes and Averages
Interpreting the Financial News
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Schwab Innovates All the Way Back to Its Roots
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Tour the U.S. Treasury
Stock Up at the NYSE
Invest Wisely¿Like a Fool
COMPANION WEBSITE
VIDEO CASE: Learn More to Earn More with Motley Fool
PART 4
CREATING AND SATISFYING CUSTOMERS
Chapter 9 Marketing Concepts and Strategies
BEHIND THE SCENES: Toyota Scion: Connecting with a New Generation of Car Buyers
Marketing in a Changing World
The Role of Marketing in Society
Needs and Wants
Exchanges and Transactions
The Four Utilities
The Marketing Concept
Marketing on the Leading Edge
Involving the Customer in the Marketing Process
Making Marketing More Accountable
Balancing Technology and the Human Touch
Marketing with Greater Concern for Ethics and Etiquette
Mining Your Deepest Secrets
Understanding Today¿s Customers
The Consumer Decision Process
Learning from Business Blunders
The Organizational Customer Decision Process
Marketing Research and Market Intelligence
Planning Your Marketing Strategies
Step 1: Examining Your Current Marketing Situation
Reviewing Performance
Evaluating Competition
Examining Internal Strengths and Weaknesses
Analyzing the External Environment
Step 2: Assessing Your Opportunities and Setting Your Objectives
Step 3: Developing Your Marketing Strategy
Dividing Markets into Segments
Choosing Your Target Markets
Positioning Your Product
Developing Your Marketing Mix
Products
Pricing
Distribution
Customer Communication
Questionable Marketing Tactics on Campus
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Scion¿s New-Generation Marketing Strategy Pays Off
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Join the Conversation on Social Media
Get Some Marketing Power
Learn to Think Like Your Customers
COMPANION WEBSITE
VIDEO CASE: In Consumers¿ Shoes: Skechers USA
Chapter 10 Products and Pricing
BEHIND THE SCENES: Allergan Stumbles onto a Billion-Dollar Product
Characteristics of Products
Types of Products
Service Products
Consumer Products
Industrial and Commercial Products
The Product Life Cycle
Designing Safer Products
Introduction
Growth
Maturity
Learning from Business Blunders
Decline
Product Enhancements and Makeovers
The New-Product Development Process
Ringing up Business in Creative New Ways
Product Identities
Brand Name Selection
Brand Sponsorship
Packaging
Labeling
Product-Line and Product-Mix Strategies
Product Lines
Product Mix
Product Expansion Strategies
Product Strategies for International Markets
Pricing Strategies
Cost-Based Pricing
Price-Based Pricing
Optimal Pricing
Skim Pricing
Penetration Pricing
Loss-Leader Pricing
Auction Pricing
Price Adjustment Strategies
Price Discounts
Bundling
Dynamic Pricing
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Allergan Puts a New Face on Cosmetic Medicine
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Be a Sharp Shopper
Protect Your Trademark
Uncover Hidden Costs
COMPANION WEBSITE
VIDEO CASE: Sending Products into Space: MCCI
Chapter 11 Distribution and Customer Communication
BEHIND THE SCENES: Costco Makes the Good Life More Affordable
Developing Distribution Strategies
Understanding the Role of Marketing Intermediaries
Wholesalers
Retailers
Store-Based Retailing Formats
E-Commerce and Other Nonstore Formats
Selecting Your Marketing Channels
Channel Length
Market Coverage
Cost
Control
Channel Conflict
Managing Physical Distribution
Developing Customer Communication Strategies
Learning from Business Blunders
Setting Your Communication Goals
Defining Your Message
Deciding on Your Market Approach
Selecting Your Communication Mix
Personal Selling
Advertising
Hey! Where Did Everybody Go?
Direct Marketing
Sales Promotion
Public Relations
Social Media
Post-Sales Communication
Respecting Ethics, Etiquette, and Regulations
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Costco Pushes Its Supply Chain to Satisfy Customers
Key Terms
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Explore the World of Wholesaling
Learn the Consumer Marketing Laws
See How the Pros Put Marketing to Work
COMPANION WEBSITE
VIDEO CASE: Revving Up Promotion: BMW Motorcycles
PART 5
LEADING AND SUPPORTING EMPLOYEES
Chapter 12 Management Functions and Skills
BEHIND THE SCENES: Wegmans Satisfies Customers by Putting Employees First
The Four Basic Functions of Management
The Planning Function
Understanding the Strategic Planning Process
Develop a Clear Vision
Translate the Vision into a Meaningful Mission Statement
Assess the Company¿s Strengths, Weaknesses, Opportunities, and Threats
Develop Forecasts
Analyze the Competition
Establish Company Goals and Objectives
Develop Action Plans
Planning for a Crisis
The Organizing Function
The Leading Function
Do You Have What It Takes to Be a Leader?
Developing an Effective Leadership Style
Coaching and Mentoring
Managing Change
Building a Positive Organizational Culture
Creating the Ideal Culture in Your Company
The Controlling Function
Learning from Business Blunders
Management Skills
Interpersonal Skills
Technical Skills
Conceptual Skills
Decision-Making Skills
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Customers Believe in Wegmans Because Wegmans Believes in Its Employees
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Become a Better Manager
Linking to Organizational Change
Learn From the Best
COMPANION WEBSITE
VIDEO CASE: Creative Management: Creative Age Publications
Chapter 13 Organization, Teamwork, and Motivation
BEHIND THE SCENES: Reinventing the Retail Experience at The Container Store
Designing an Effective Organization Structure
Identifying Job Responsibilities
Defining the Chain of Command
Learning from Business Blunders
Organizing the Workforce
Functional Structures
Divisional Structures
Matrix Structures
Network Structures
Hybrid Structures
Working in Teams
What Is a Team?
Types of Teams
Advantages and Disadvantages of Working in Teams
Characteristics of Effective Teams
Stages of Team Development
Team Conflict
Causes of Team Conflict
Solutions to Team Conflict
Productive Team Meetings
Motivating Employees
What Is Motivation?
Theories of Motivation
Maslow¿s Hierarchy of Needs
Herzberg¿s Two-Factor Theory
Theory X, Theory Y, and Theory Z
Which Theory Will Solve the Problem of Employee Theft?
Equity Theory
Expectancy Theory
Motivational Strategies
Setting Goals
Reinforcing Behavior
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Teaming Up for Success at The Container Store
KEY TERMS
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
SEE IT ON THE WEB
Make Meetings Work
Be Direct
Resolve Conflict Like a Pro
COMPANION WEBSITE
VIDEO CASE: JUICING UP THE ORGANIZATION: NANTUCKET NECTARS
Chapter 14 Human Resources
BEHIND THE SCENES
Brewing Up People Policies for Chainwide Success
Keeping Pace with Today¿s Workforce
Staffing Challenges
Demographic Challenges
Workforce Diversity
Age
Gender
Race
Religion
Diversity Initiatives
Alternative Work Arrangements
Planning for a Company¿s Staffing Needs
Forecasting Supply and Demand
Learning from Business Blunders
Evaluating Job Requirements
Recruiting, Hiring, Training, and Evaluating Employees
The Hiring Process
When Employees Turn on Each Other
Training and Development
Appraising Employee Performance
Somebody¿s Watching (and Listening and Reading and Monitoring and Recording)
Administering Compensation and Employee Benefits
Salaries and Wages
Incentive Programs
Employee Benefits and Services
Insurance
Retirement Benefits
Stock Options
Family Benefits
Other Employee Benefits
Overseeing Changes in Employment Status
Promoting and Reassigning Employees
Terminating Employees
Retiring Employees
Working with Labor Unions
Union Organization
The Collective Bargaining Process
The Labor Movement Today
SUMMARY OF LEARNING OBJECTIVES
BEHIND THE SCENES: Perking Up the Perfect Blend at Starbucks
Key Terms
TEST YOUR KNOWLEDGE
PRACTICE YOUR KNOWLEDGE
EXPAND YOUR KNOWLEDGE
SEE IT ON THE WEB
Explore the Latest Workforce Management Ideas
Digging Deeper at the Bureau of Labor Statistics
Maximizing Your Earning Potential
COMPANION WEBSITE
VIDEO CASE: Channeling Human Resources at Showtime
Appendices
Appendix A The U.S. Legal System and Business Law
Appendix B Personal finance: Getting Set for Life
References
Glossary
Company/Brand/Organization Index
Subject Index

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Availability

Detail Information

Series Title

-

Call Number

650 BOV b

Publisher

New Jersey : Pearson., 2008

Collation

xliv, 456 p. : ill. (chiefly col.) ; 28 cm.

Language

English

ISBN/ISSN

978-0-13-208269-3

Classification

650

Content Type

Label BMN

Media Type

-

Carrier Type

-

Edition

ed. iv

Subject(s)

Industrial Management
Business
Commerce

Specific Detail Info

-

Statement of Responsibility

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