Nickels, William G., author.
Understanding business / William G. Nickels, James M. McHugh, and Susan M. McHugh. - Twelfth edition. - New York, New York : McGraw-Hill Education, c2019. - xxix, 691 pages : color illustrations, color photographs ; 28 cm
Includes bibliographical references and index.
PROLOGUE: Getting ready for this course and your career -- Learning the Skills you need to Succeed Today and Tomorrow -- Using this course to prepare for your career -- Assessing your Skills and Personality -- Using professional business strategies right now -- Learning to behave like a professional -- Doing your best in college -- Study hints -- Test-taking Hints -- Time Management Hints -- Making the Most of the resources for this course -- Getting the most from this Text -- PART 1. Business Trends: Cultivating a Business in Diverse, Global Environments -- 1. Taking Risks and Making Profits within the Dynamic Business Environment -- Getting to know Ann-Marie Campbell of Home Depot -- Business and Wealth Building -- Revenues, Profits, and Losses -- Matching Risk with Profit -- Standard of Living and Quality of Life -- Responding to the Various Business Stakeholders -- Using business principles in Nonprofit Organizations -- The Importance of Entrepreneurs to the Creation of Wealth -- The Five Factors of Production -- The Business Environment -- The Economic and Legal Environment -- The Technological Environment -- Adapting to Change Up, Up, and Away -- The Competitive Environment -- The Social Environment -- The Global Environment -- Reaching Beyond Our Borders Hollywood Climbs the Great Wall -- The Evolution of U.S. Business -- Progress in the Agricultural and Manufacturing Industries -- Progress in Service Industries -- Adapting to Change Services Expand the Circular Economy -- Your Future in Business -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Grubhub and the Dynamic Business Environment -- Notes -- 2. Understanding Economics and How It Affects Business -- Getting to know Thomas Piketty, Economist -- How Economic Conditions affect Business -- What is Economics? -- The Secret to Creating A Wealthy Economy -- Adam Smith and the Creation of Wealth -- Adapting to Change World Population is Popping -- How Business Benefit the Community -- Understanding Free-Market Capitalism -- How Free Markets work -- How Prices are Determined -- The Economic Concept of Supply -- The Economic Concept of Demand -- The Equilibrium Point, or Market Price -- Competition within Free Markets -- Benefits and Limitations of Free Markets -- Making Ethical Decisions Bad Medicine for Consumers? -- Understanding Socialism -- The Benefits of Socialism -- The Negative Consequences of Socialism -- Understanding Communism -- The Trend toward Mixed Economies -- Understanding the U.S. Economic System -- Key Economic Indicators -- Productivity in the United States -- Reaching Beyond Our Borders Inflation at the Speed of Sound -- Productivity in the Service Sector -- The Business Cycle -- Stabilizing the Economy through Fiscal Policy -- Using Monetary Policy to keep the Economy Growing -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career skills -- Putting Principles to work -- Video Case: Opportunity International: Giving the Poor a Working Chance -- Notes -- Chapter 3 Doing Business in Global Markets -- GETTING TO KNOW INDRA KRISHNAMURTHY NOOYI, CEO OF PEPSICO -- The Dynamic Global Market -- Why Trade with Other Nations? -- The Theories of Comparative and Absolute Advantage -- Getting Involved in Global Trade -- Importing Goods and Services -- Exporting Goods and Services -- Measuring Global Trade -- CONNECTING THROUGH SOCIAL MEDIA MY HOME IS YOUR HOME -- Strategies for Reaching Global Markets -- Licensing -- Exporting -- Franchising -- ADAPTING TO CHANGE MANY FLAGS FLY OVER THE GOLDEN ARCHES -- Contract Manufacturing -- International Joint Ventures and Strategic Alliances -- Foreign Direct Investment -- Forces Affecting Trading in Global Markets -- Sociocultural Forces -- Economic and Financial Forces -- Legal and Regulatory Forces -- Physical and Environmental Forces -- Trade Protectionism -- MAKING ETHICAL DECISIONS EXPORTING YOUR PROBLEMS AWAY -- The World Trade Organization -- Common Markets -- The North American and Central American Free Trade Agreements -- The Future of Global Trade -- The Challenge of Offshore Outsourcing -- Globalization and Your Future -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Electra Bicycle Company -- Notes -- Chapter 4 Demanding Ethical and Socially Responsible Behavior -- GETTING TO KNOW AARON AND EVAN STEED, CO-FOUNDER OF MEATHEAD MOVERS -- Ethics Is More Than Legality -- Ethical Standards Are Fundamental -- Ethics Begins with Each of Us -- Managing Businesses Ethically and Responsibly -- MAKING ETHICAL DECISIONS ETHICS BEGINS WITH YOU -- Setting Corporate Ethical Standards -- Corporate Social Responsibility -- Responsibility to Customers -- Responsibility to Investors -- Responsibility to Employees -- Responsibility to Society and the Environment -- Social Auditing -- International Ethics and Social Responsibility -- REACHING BEYOND OUR BORDERS ETHICAL CULTURE CLASH -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Warby Parker/VisionSpring -- Notes -- Part 2 Business Ownership: Starting a Small Business -- Chapter 5 How to Form a Business -- GETTING TO KNOW PETER CANCRO, FOUNDER OF JERSEY MIKE'S SUBS -- Basic Forms of Business Ownership -- Sole Proprietorships -- Advantages of Sole Proprietorships -- Disadvantages of Sole Proprietorships -- Partnerships -- Advantages of Partnerships -- Disadvantages of Partnerships -- Corporations -- Advantages of Corporations -- MAKING ETHICAL DECISIONS GOOD BUSINESS, BAD KARMA? -- Disadvantages of Corporations -- Individuals Can Incorporate -- ADAPTING TO CHANGE KICKSTARTING A BENEFIT CORPORATION -- S Corporations -- Limited Liability Companies -- Corporate Expansion: Mergers and Acquisitions -- Franchises -- Advantages of Franchises -- Disadvantages of Franchises -- SPOTLIGHT ON SMALL BUSINESS UNLOCKING A GROWING FRANCHISE -- Diversity in Franchising -- Home-Based Franchises -- E-Commerce in Franchising -- Using Technology in Franchising -- Franchising in Global Markets -- Cooperatives -- Which Form of Ownership Is for You? -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Domino's Still Rolling in the Dough -- Notes -- Chapter 6 Entrepreneurship and Starting a Small Business -- GETTING TO KNOW TRISTAN WALKER, FOUNDER OF WALKER AND COMPANY -- The Job-Creating Power of Entrepreneurs in the United States -- Why People Take the Entrepreneurial Challenge -- SPOTLIGHT ON SMALL BUSINESS STUDENT START-UPS -- What Does It Take to Be an Entrepreneur? -- Turning Your Passions and Problems into Opportunities -- Entrepreneurial Teams -- Entrepreneurship within Firms -- Micropreneurs and Home-Based Businesses -- Online Businesses -- Encouraging Entrepreneurship: What Government Can Do -- Getting Started in Small Business -- Small versus Big Business -- Importance of Small Businesses -- Small-Business Success and Failure -- Learning About Small-Business Operations -- Learn from Others -- Get Some Experience -- Take Over a Successful Firm.
MAKING ETHICAL DECISIONS SHOULD YOU STAY OR SHOULD YOU GO? -- Managing a Small Business -- Planning Your Business -- Financing Your Small Business -- Knowing Your Customers -- Managing Your Employees -- Keeping Records -- Looking for Help -- Going Global: Small-Business Prospects -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Launching a Business: Jcf Health and Fitness -- Notes -- Part 3 Business Management: Empowering Employees to Satisfy Customers -- Chapter 7 Management and Leadership -- GETTING TO KNOW KEVIN PLANK, FOUNDER OF UNDER ARMOUR -- Managers' Roles Are Evolving -- The Four Functions of Management -- Planning and Decision Making -- ADAPTING TO CHANGE WILL STRATEGY ROBOTS REPLACE MANAGERS? -- Decision Making: Finding the Best Alternative -- Organizing: Creating a Unified System -- Tasks and Skills at Different Levels of Management -- Staffing: Getting and Keeping the Right People -- CONNECTING THROUGH SOCIAL MEDIA WANT TO BE A SOCIAL MEDIA MANAGER? -- Leading: Providing Continuous Vision and Values -- Leadership Styles -- MAKING ETHICAL DECISIONS WHAT DO YOU TELL THE TEAM? -- Empowering Workers -- Managing Knowledge -- Controlling: Making Sure It Works -- A Key Criterion for Measurement: Customer Satisfaction -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Zappos's Team Approach -- Notes -- Chapter 8 Structuring Organizations for Today's Challenges -- GETTING TO KNOW DENISE MORRISON, CEO OF CAMPBELL SOUP COMPANY -- Organizing for Success -- Building an Organization from the Bottom Up -- The Changing Organization -- MAKING ETHICAL DECISIONS WOULD YOU SACRIFICE SAFETY FOR PROFITS? -- The Development of Organizational Design -- Turning Principles into Organizational Design -- Decisions to Make in Structuring Organizations -- Choosing Centralized or Decentralized Authority -- Choosing the Appropriate Span of Control -- Choosing between Tall and Flat Organizational Structures -- Weighing the Advantages and Disadvantages of Departmentalization -- Organizational Models -- Line Organizations -- Line-and-Staff Organizations -- Matrix-Style Organizations -- Cross-Functional Self-Managed Teams -- Going Beyond Organizational Boundaries -- ADAPTING TO CHANGE GOING BOSSLESS -- Managing the Interactions among Firms -- Transparency and Virtual Organizations -- Adapting to Change -- Restructuring for Empowerment -- CONNECTING THROUGH SOCIAL MEDIA BREAKING THE CONNECTION -- Creating a Change-Oriented Organizational Culture -- Managing the Informal Organization -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Freshii's Winning Organization -- Notes -- Chapter 9 Production and Operations Management -- GETTING TO KNOW SHAHID KHAN, CEO OF FLEX-N-GATE -- Manufacturing and Services in Perspective -- Manufacturers and Service Organizations Become More Competitive -- REACHING BEYOND OUR BORDERS CREATING SKILLED WORKERS WITH GERMAN-STYLE APPRENTICESHIPS -- From Production to Operations Management -- Operations Management in the Service Sector -- Production Processes -- The Need to Improve Production Techniques and Cut Costs -- Computer-Aided Design and Manufacturing -- Flexible Manufacturing -- Lean Manufacturing -- Mass Customization -- Robotics -- 3D Printing -- Using Sensing, Measurement, and Process Control -- ADAPTING TO CHANGE THE VAST POSSIBILITIES OF 3D PRINTING -- Operations Management Planning -- Facility Location -- Facility Location for Manufacturers -- Interfirm Operations Management -- Facility Location in the Future -- MAKING ETHICAL DECISIONS SHOULD WE STAY OR SHOULD WE GO? -- Facility Layout -- Materials Requirement Planning -- Purchasing -- Just-in-Time Inventory Control -- Quality Control -- The Baldrige Awards -- ISO 9001 and ISO 14001 Standards -- Control Procedures: PERT and Gantt Charts -- Preparing for the Future -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Production in the 21st Century -- Notes - Part 4 Management of Human Resources: Motivating Employees to Produce Quality Goods and Services -- Chapter 10 Motivating Employees -- GETTING TO KNOW KIM JORDAN, CEO OF NEW BELGIUM BREWING COMPANY -- The Value of Motivation -- Frederick Taylor: The "Father" of Scientific Management -- Elton Mayo and the Hawthorne Studies -- Motivation and Maslow's Hierarchy of Needs -- Herzberg's Motivating Factors -- Mcgregor's Theory X and Theory Y -- Theory X -- Theory Y -- Ouchi's Theory Z -- Goal-Setting Theory and Management by Objectives -- Meeting Employee Expectations: Expectancy Theory -- Treating Employees Fairly: Equity Theory -- Putting Theory into Action -- Motivating through Job Enrichment -- Motivating through Open Communication -- Applying Open Communication in Self-Managed Teams -- Recognizing a Job Well Done -- ADAPTING TO CHANGE EMPLOYEE ENGAGEMENT'S MOOD RING -- Personalizing Motivation -- Motivating Employees across the Globe -- Motivating Employees across Generations -- CONNECTING THROUGH SOCIAL MEDIA THREE CHEERS FOR PEERS! -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Appletree Answers -- Notes -- Chapter 11 Human Resource Management: Finding and Keeping the Best Employees -- GETTING TO KNOW HAMDI ULUKAYA, FOUNDER AND CEO OF CHOBANI -- Working with People Is Just the Beginning -- Developing the Ultimate Resource -- The Human Resource Challenge -- Laws Affecting Human Resource Management -- Laws Protecting Employees with Disabilities and Older Employees -- Effects of Legislation -- Determining a Firm's Human Resource Needs -- Recruiting Employees From a Diverse Population -- CONNECTING THROUGH SOCIAL MEDIA NEED A JOB? -- Selecting Employees Who Will Be Productive -- Hiring Contingent Workers -- CONNECTING THROUGH SOCIAL MEDIA LET'S FACE IT -- Training and Developing Employees for Optimum Performance -- MAKING ETHICAL DECISIONS Intern or Indentured Servant? -- Management Development -- Networking -- Diversity in Management Development -- Appraising Employee Performance to Get Optimum Results -- Compensating Employees: Attracting and Keeping the Best -- Pay Systems -- Compensating Teams -- Fringe Benefits -- REACHING BEYOND OUR BORDERS Managing a Global Workforce -- Scheduling Employees to Meet Organizational and Employee Needs -- Flextime Plans -- Home-Based Work -- Job-Sharing Plans -- Moving Employees Up, Over, and Out -- Promoting and Reassigning Employees -- Terminating Employees -- Retiring Employees -- Losing Valued Employees -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Teach for America -- Notes -- Chapter 12 Dealing with Employee-Management Issues -- GETTING TO KNOW LILY ESKELSEN GARCíA, PRESIDENT OF THE NEA -- Employee-Management Issues -- Labor Unions Yesterday and Today -- The History of Organized Labor -- Labor Legislation and Collective Bargaining -- SPOTLIGHT ON SMALL BUSINESS THE FIRE THAT SPARKED THE LABOR MOVEMENT -- Union Organizing Campaigns -- Objectives of Organized Labor over Time -- Resolving Labor-Management Disagreements -- Mediation and Arbitration -- Tactics Used in Labor-Management Conflicts -- Union Tactics -- Management Tactics -- The Future of Unions and Labor-Management Relations -- MAKING ETHICAL DECISIONS WALKING A FINE LINE -- Controversial Employee-Management Issues -- Executive Compensation -- Pay Equity -- ADAPTING TO CHANGE PAYING FOR UNDERPERFORMING -- Sexual Harassment -- Child Care -- Elder Care -- Drug Abuse and Drug Testing -- Violence and Bullying in the Workplace -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Working with Unions at Freeman -- Notes.
art 5 Marketing: Developing and Implementing Customer-Oriented Marketing Plans -- Chapter 13 Marketing: Helping Buyers Buy -- GETTING TO KNOW MICHELLE PHAN, FOUNDER OF IPSY -- What Is Marketing? -- The Evolution of Marketing -- CONNECTING THROUGH SOCIAL MEDIA SNAPPING UP A CUSTOMER BASE -- Nonprofit Organizations and Marketing -- The Marketing Mix -- Applying the Marketing Process -- Designing a Product to Meet Consumer Needs -- Setting an Appropriate Price -- Getting the Product to the Right Place -- Developing an Effective Promotional Strategy -- Providing Marketers with Information -- The Marketing Research Process -- The Marketing Environment -- Global Factors -- Technological Factors -- Sociocultural Factors -- Competitive Factors -- SPOTLIGHT ON SMALL BUSINESS CREATING MASS APPEAL FOR A CUSTOM PRODUCT -- Economic Factors -- Two Different Markets: Consumer and Business-to-Business (B2B) -- The Consumer Market -- Segmenting the Consumer Market -- Reaching Smaller Market Segments -- Building Marketing Relationships -- The Consumer Decision-Making Process -- ADAPTING TO CHANGE BUILDING RELATIONSHIPS BY BUILDING SUBSCRIBERS -- The Business-to-Business Market -- Your Prospects in Marketing -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Dunkin' Donuts and the 4 Ps -- Notes -- Chapter 14 Developing and Pricing Goods and Services -- GETTING TO KNOW ANTHONY KATZ, FOUNDER OF HYPERICE -- Product Development and the Total Product Offer -- CONNECTING THROUGH SOCIAL MEDIA PLAYING WITH THE SOCIAL GAMING STARS -- Distributed Product Development -- Product Lines and the Product Mix -- Product Differentiation -- Marketing Different Classes of Consumer Goods and Services -- Marketing Industrial Goods and Services -- Packaging Changes the Product -- The Growing Importance of Packaging -- Branding and Brand Equity -- MAKING ETHICAL DECISIONS NATURAL GOODS: REALLY FROM NATURE? 362 -- Brand Categories -- REACHING BEYOND OUR BORDERS PLAYING THE NAME GAME -- Generating Brand Equity and Loyalty -- Creating Brand Associations -- Brand Management -- The New-Product Development Process -- Generating New-Product Ideas -- Product Screening -- Product Analysis -- Product Development and Testing -- Commercialization -- The Product Life Cycle -- Example of the Product Life Cycle -- SPOTLIGHT ON SMALL BUSINESS MADE BY MOMMY -- Using the Product Life Cycle -- Competitive Pricing -- Pricing Objectives -- Cost-Based Pricing -- Demand-Based Pricing -- Competition-Based Pricing -- Break-Even Analysis -- Other Pricing Strategies -- How Market Forces Affect Pricing -- Nonprice Competition -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Developing New Products at Domino's -- Notes -- Chapter 15 Distributing Products -- GETTING TO KNOW TONY MCGEE, PRESIDENT AND CEO OF HNM GLOBAL LOGISTICS -- The Emergence of Marketing Intermediaries -- Why Marketing Needs Intermediaries -- SPOTLIGHT ON SMALL BUSINESS WHAT WAS MINE IS NOW YOURS -- How Intermediaries Create Exchange Efficiency -- The Value versus the Cost of Intermediaries -- The Utilities Created by Intermediaries -- Form Utility -- Time Utility -- Place Utility -- CONNECTING THROUGH SOCIAL MEDIA I'M LOVIN' ALL-DAY EGG MCMUFFINS -- Possession Utility -- Information Utility -- Service Utility -- Wholesale Intermediaries -- Merchant Wholesalers -- Agents and Brokers -- Retail Intermediaries -- Retail Distribution Strategy -- Online Retailing and other Nonstore Retailing -- Online Retailing -- Telemarketing -- Vending Machines, Kiosks, Carts, and Pop-Ups -- Direct Selling -- Multilevel Marketing -- Direct Marketing -- Building Cooperation in Channel Systems -- Corporate Distribution Systems -- Contractual Distribution Systems -- Administered Distribution Systems -- Supply Chains -- Logistics: Getting Goods to Consumers Efficiently -- Trains Are Great for Large Shipments -- ADAPTING TO CHANGE ONLINE GROCERY SHOPPING -- Trucks Are Good for Small Shipments to Remote Locations -- Water Transportation Is Inexpensive but Slow -- Pipelines Are Fast and Efficient -- Air Transportation Is Fast but Expensive -- Intermodal Shipping -- The Storage Function -- Tracking Goods -- What All This Means to Your Career -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: FedEx -- Notes -- Chapter 16 Using Effective Promotions -- GETTING TO KNOW MICHAEL DUBIN, COFOUNDER AND CEO OF DOLLAR SHAVE CLUB -- Promotion and the Promotion Mix -- Advertising: Informing, Persuading, and Reminding -- Television Advertising -- CONNECTING THROUGH SOCIAL MEDIA HOW SOCIAL MEDIA MOVE TV RATINGS -- Product Placement -- Infomercials -- Online Advertising -- Social Media Advertising -- Global Advertising -- Personal Selling: Providing Personal Attention -- REACHING BEYOND OUR BORDERS OREO: WORLD'S FAVORITE COOKIE? -- Steps in the Selling Process -- The Business-to-Consumer Sales Process -- Public Relations: Building Relationships -- Publicity: The Talking Arm of PR -- Sales Promotion: Giving Buyers Incentives -- Word of Mouth and Other Promotional Tools -- Social Networking -- Blogging -- Podcasting -- E-Mail Promotions -- Mobile Marketing -- Managing the Promotion Mix: Putting It all Together -- Promotional Strategies -- ADAPTING TO CHANGE OUTDOOR "EYES" ARE PULLING YOU IN -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: SXSW -- Notes -- Part 6 Managing Financial Resources -- Chapter 17 Understanding Accounting and Financial Information -- GETTING TO KNOW SHELLY SUN, CEO OF BRIGHTSTAR CARE -- The Role of Accounting Information -- What Is Accounting? -- The Accounting Cycle -- Using Technology in Accounting -- Understanding Key Financial Statements -- The Fundamental Accounting Equation -- The Balance Sheet -- Classifying Assets -- Liabilities and Owners' Equity Accounts -- The Income Statement -- Revenue -- Cost of Goods Sold -- SPOTLIGHT ON SMALL BUSINESS OUT WITH THE OLD -- IN WITH THE NEW -- Operating Expenses -- Net Profit or Loss -- The Statement of Cash Flows -- The Need for Cash Flow Analysis -- MAKING ETHICAL DECISIONS WHEN YOU ARE JUDGE AND JURY! 448 -- Analyzing Financial Performance Using Ratios -- Liquidity Ratios -- Leverage (Debt) Ratios -- Profitability (Performance) Ratios -- Activity Ratios -- Accounting Disciplines -- Financial Accounting -- Managerial Accounting -- Auditing -- ADAPTING TO CHANGE ACCOUNTING: CSI -- Tax Accounting -- Government and Not-for-Profit Accounting -- REACHING BEYOND OUR BORDERS THE WIDE, WIDE WORLD OF ACCOUNTING -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: The Accounting Function at Goodwill Industries -- Notes -- Chapter 18 Financial Management.
GETTING TO KNOW KATHY WALLER, EXECUTIVE VICE PRESIDENT AND CFO OF COCA-COLA -- The Role of Finance and Financial Managers -- The Value of Understanding Finance -- What Is Financial Management? -- Financial Planning -- Forecasting Financial Needs -- Working with the Budget Process -- Establishing Financial Controls -- The Need for Operating Funds -- Managing Day-by-Day Needs of the Business -- Controlling Credit Operations -- Acquiring Needed Inventory -- Making Capital Expenditures -- MAKING ETHICAL DECISIONS NOT WHAT THE DOCTOR ORDERED! -- Alternative Sources of Funds -- Obtaining Short-Term Financing -- Trade Credit -- Family and Friends -- Commercial Banks -- Different Forms of Short-Term Loans -- Factoring Accounts Receivable -- ADAPTING TO CHANGE FINANCING JUST A CLICK AWAY -- Commercial Paper -- Credit Cards -- Obtaining Long-Term Financing -- Debt Financing -- Equity Financing -- Comparing Debt and Equity Financing -- SPOTLIGHT ON SMALL BUSINESS LOOKING FOR A SLAM DUNK -- Lessons Learned from the Financial Crisis and Great Recession -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Starting Up: Tom and Eddie's -- Notes -- Chapter 19 Using Securities Markets for Financing and Investing Opportunities -- GETTING TO KNOW JIM CRAMER, HOST OF CNBC'S MAD MONEY -- The Function of Securities Markets -- The Role of Investment Bankers -- Stock Exchanges -- CONNECTING THROUGH SOCIAL MEDIA JOBS ACT RULES CROWDINVESTING -- Securities Regulations and the Securities and Exchange Commission -- Foreign Stock Exchanges -- How Businesses Raise Capital by Selling Stock -- Advantages and Disadvantages of Issuing Stock -- Issuing Shares of Common Stock -- Issuing Shares of Preferred Stock -- How Businesses Raise Capital by Issuing Bonds -- Learning the Language of Bonds -- Advantages and Disadvantages of Issuing Bonds -- Different Classes of Bonds -- Special Bond Features -- How Investors Buy Securities -- Investing through Online Brokers -- ADAPTING TO CHANGE R2-D2 TO THE INVESTOR'S RESCUE -- Choosing the Right Investment Strategy -- MAKING ETHICAL DECISIONS MONEY GOING UP IN SMOKE -- Reducing Risk by Diversifying Investments -- Investing in Stocks -- Stock Splits -- Buying Stock on Margin -- Understanding Stock Quotations -- Investing in Bonds -- Investing in High-Risk (Junk) Bonds -- Investing in Mutual Funds and Exchange-Traded Funds -- Understanding Stock Market Indicators -- Riding the Market's Roller Coaster -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Where Did All My Money Go? -- Notes -- Chapter 20 Money, Financial Institutions, and the Federal Reserve -- GETTING TO KNOW JANET YELLEN, CHAIR OF THE FEDERAL RESERVE -- Why Money Is Important -- What Is Money? -- ADAPTING TO CHANGE SAYING GOODBYE TO BEN FRANKLIN -- Managing Inflation and the Money Supply -- The Global Exchange of Money -- Control of the Money Supply -- Basics about the Federal Reserve -- The Reserve Requirement -- Open-Market Operations -- The Discount Rate -- The Federal Reserve's Check-Clearing Role -- The History of Banking and the Need for the Fed -- Banking and the Great Depression -- The U.S. Banking System -- Commercial Banks -- Services Provided by Commercial Banks -- Services to Borrowers -- Savings and Loan Associations (S&Ls) -- Credit Unions -- Other Financial Institutions (Nonbanks) -- MAKING ETHICAL DECISIONS AN OPEN AND SHUT OPTION -- The Banking Crisis and How the Government Protects Your Money -- SPOTLIGHT ON SMALL BUSINESS BECOMING YOUR BEST FRIEND IN BANKING -- Protecting Your Funds -- The Federal Deposit Insurance Corporation (FDIC) -- The Savings Association Insurance Fund (SAIF) -- The National Credit Union Administration (NCUA) -- Using Technology to Make Banking More Efficient -- Online Banking -- International Banking and Banking Services -- Leaders in International Banking -- The World Bank and the International Monetary Fund -- REACHING BEYOND OUR BORDERS NEW DAY, NEW ISSUES ACROSS THE GLOBE -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: The Financial Crisis -- Notes -- Bonus Chapters -- Bonus Chapter A Working within the Legal Environment -- GETTING TO KNOW ALANNA RUTHERFORD, ATTORNEY -- The Case for Laws -- Statutory and Common Law -- Administrative Agencies -- Tort Law -- Product Liability -- Legally Protecting Ideas: Patents, Copyrights, and Trademarks -- Sales Law: The Uniform Commercial Code -- Warranties -- Negotiable Instruments -- Contract Law -- Breach of Contract -- Promoting Fair and Competitive Business Practices -- The History of Antitrust Legislation -- Laws to Protect Consumers -- Tax Laws -- Bankruptcy Laws -- Deregulation versus Regulation -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter B Using Technology to Manage Information -- GETTING TO KNOW BEN FRIED, CIO OF GOOGLE -- The Role of Information Technology -- Evolution from Data Processing to Business Intelligence -- How Information Technology Changes Business -- Types of Information -- Managing Information -- Big Data and Data Analytics -- Using Information from Social Media -- The Heart of Knowledge Management: The Internet -- Intranets -- Extranets -- Virtual Private Networks -- Broadband Technology -- Social Media and Web 2.0 -- Web 3.0 -- Who's the "Boss" of the Internet? -- Virtual Networking and Cloud Computing -- Effects of Information Technology on Management -- Human Resource Issues -- Security Issues -- Privacy Issues -- Stability Issues -- TECHNOLOGY AND YOU -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter C Managing Risk -- GETTING TO KNOW OLZA "TONY" NICELY, CEO OF GEICO -- Understanding Business Risks -- How Rapid Change Affects Risk Management -- Managing Risk -- Reducing Risk -- Avoiding Risk -- Self-Insuring -- Buying Insurance to Cover Risk -- What Risks Are Uninsurable? -- What Risks Are Insurable? -- Understanding Insurance Policies -- Rule of Indemnity -- Types of Insurance Companies -- Insurance Coverage for Various Kinds of Risk -- Health Insurance -- Health Savings Accounts -- Disability Insurance -- Workers' Compensation -- Liability Insurance -- Life Insurance for Businesses -- Insurance Coverage for Home-Based Businesses -- The Risk of Damaging the Environment -- Protection from Cyber Attacks -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter D Managing Personal Finances -- GETTING TO KNOW ALEXA VON TOBEL, FOUNDER AND CEO OF LEARNVEST -- The Need for Personal Financial Planning -- Financial Planning Begins with Making Money -- Six Steps to Controlling Your Assets -- Building Your Financial Base -- Real Estate: Historically, a Relatively Secure Investment -- Tax Deductions and Home Ownership -- Where to Put Your Savings -- Learning to Manage Credit -- Protecting Your Financial Base: Buying Insurance -- Health Insurance -- Disability Insurance -- Homeowner's or Renter's Insurance -- Other Insurance -- Planning Your Retirement -- Social Security -- Individual Retirement Accounts (IRAs) -- Simple IRAs -- 401(k) Plans -- Keogh Plans -- Financial Planners -- Estate Planning -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Epilogue Getting the Job You Want -- Job Search Strategy -- Searching for Jobs Online -- Job Search Resources -- Writing Your Résumé -- Putting Your Résumé Online -- Writing a Cover Letter -- Preparing for Job Interviews -- Being Prepared to Change Careers -- Glossary -- Name Index -- Organization Index -- Subject Index.
The content of this is the same on other formats. Long considered the Gold Standard for introduction to business courses, this comprehensive, readable text enhances teaching because the experienced author team revises in response to diverse, ever-changing course needs and learning styles. Real-world case studies ensure that students grapple with the most current challenges facing businesspeople today.
In English text.
9781260092332
Industrial management.
Business.
Business --Vocational guidance.
Management.
HD 31.2 / N53 2019
Understanding business / William G. Nickels, James M. McHugh, and Susan M. McHugh. - Twelfth edition. - New York, New York : McGraw-Hill Education, c2019. - xxix, 691 pages : color illustrations, color photographs ; 28 cm
Includes bibliographical references and index.
PROLOGUE: Getting ready for this course and your career -- Learning the Skills you need to Succeed Today and Tomorrow -- Using this course to prepare for your career -- Assessing your Skills and Personality -- Using professional business strategies right now -- Learning to behave like a professional -- Doing your best in college -- Study hints -- Test-taking Hints -- Time Management Hints -- Making the Most of the resources for this course -- Getting the most from this Text -- PART 1. Business Trends: Cultivating a Business in Diverse, Global Environments -- 1. Taking Risks and Making Profits within the Dynamic Business Environment -- Getting to know Ann-Marie Campbell of Home Depot -- Business and Wealth Building -- Revenues, Profits, and Losses -- Matching Risk with Profit -- Standard of Living and Quality of Life -- Responding to the Various Business Stakeholders -- Using business principles in Nonprofit Organizations -- The Importance of Entrepreneurs to the Creation of Wealth -- The Five Factors of Production -- The Business Environment -- The Economic and Legal Environment -- The Technological Environment -- Adapting to Change Up, Up, and Away -- The Competitive Environment -- The Social Environment -- The Global Environment -- Reaching Beyond Our Borders Hollywood Climbs the Great Wall -- The Evolution of U.S. Business -- Progress in the Agricultural and Manufacturing Industries -- Progress in Service Industries -- Adapting to Change Services Expand the Circular Economy -- Your Future in Business -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Grubhub and the Dynamic Business Environment -- Notes -- 2. Understanding Economics and How It Affects Business -- Getting to know Thomas Piketty, Economist -- How Economic Conditions affect Business -- What is Economics? -- The Secret to Creating A Wealthy Economy -- Adam Smith and the Creation of Wealth -- Adapting to Change World Population is Popping -- How Business Benefit the Community -- Understanding Free-Market Capitalism -- How Free Markets work -- How Prices are Determined -- The Economic Concept of Supply -- The Economic Concept of Demand -- The Equilibrium Point, or Market Price -- Competition within Free Markets -- Benefits and Limitations of Free Markets -- Making Ethical Decisions Bad Medicine for Consumers? -- Understanding Socialism -- The Benefits of Socialism -- The Negative Consequences of Socialism -- Understanding Communism -- The Trend toward Mixed Economies -- Understanding the U.S. Economic System -- Key Economic Indicators -- Productivity in the United States -- Reaching Beyond Our Borders Inflation at the Speed of Sound -- Productivity in the Service Sector -- The Business Cycle -- Stabilizing the Economy through Fiscal Policy -- Using Monetary Policy to keep the Economy Growing -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career skills -- Putting Principles to work -- Video Case: Opportunity International: Giving the Poor a Working Chance -- Notes -- Chapter 3 Doing Business in Global Markets -- GETTING TO KNOW INDRA KRISHNAMURTHY NOOYI, CEO OF PEPSICO -- The Dynamic Global Market -- Why Trade with Other Nations? -- The Theories of Comparative and Absolute Advantage -- Getting Involved in Global Trade -- Importing Goods and Services -- Exporting Goods and Services -- Measuring Global Trade -- CONNECTING THROUGH SOCIAL MEDIA MY HOME IS YOUR HOME -- Strategies for Reaching Global Markets -- Licensing -- Exporting -- Franchising -- ADAPTING TO CHANGE MANY FLAGS FLY OVER THE GOLDEN ARCHES -- Contract Manufacturing -- International Joint Ventures and Strategic Alliances -- Foreign Direct Investment -- Forces Affecting Trading in Global Markets -- Sociocultural Forces -- Economic and Financial Forces -- Legal and Regulatory Forces -- Physical and Environmental Forces -- Trade Protectionism -- MAKING ETHICAL DECISIONS EXPORTING YOUR PROBLEMS AWAY -- The World Trade Organization -- Common Markets -- The North American and Central American Free Trade Agreements -- The Future of Global Trade -- The Challenge of Offshore Outsourcing -- Globalization and Your Future -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Electra Bicycle Company -- Notes -- Chapter 4 Demanding Ethical and Socially Responsible Behavior -- GETTING TO KNOW AARON AND EVAN STEED, CO-FOUNDER OF MEATHEAD MOVERS -- Ethics Is More Than Legality -- Ethical Standards Are Fundamental -- Ethics Begins with Each of Us -- Managing Businesses Ethically and Responsibly -- MAKING ETHICAL DECISIONS ETHICS BEGINS WITH YOU -- Setting Corporate Ethical Standards -- Corporate Social Responsibility -- Responsibility to Customers -- Responsibility to Investors -- Responsibility to Employees -- Responsibility to Society and the Environment -- Social Auditing -- International Ethics and Social Responsibility -- REACHING BEYOND OUR BORDERS ETHICAL CULTURE CLASH -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Warby Parker/VisionSpring -- Notes -- Part 2 Business Ownership: Starting a Small Business -- Chapter 5 How to Form a Business -- GETTING TO KNOW PETER CANCRO, FOUNDER OF JERSEY MIKE'S SUBS -- Basic Forms of Business Ownership -- Sole Proprietorships -- Advantages of Sole Proprietorships -- Disadvantages of Sole Proprietorships -- Partnerships -- Advantages of Partnerships -- Disadvantages of Partnerships -- Corporations -- Advantages of Corporations -- MAKING ETHICAL DECISIONS GOOD BUSINESS, BAD KARMA? -- Disadvantages of Corporations -- Individuals Can Incorporate -- ADAPTING TO CHANGE KICKSTARTING A BENEFIT CORPORATION -- S Corporations -- Limited Liability Companies -- Corporate Expansion: Mergers and Acquisitions -- Franchises -- Advantages of Franchises -- Disadvantages of Franchises -- SPOTLIGHT ON SMALL BUSINESS UNLOCKING A GROWING FRANCHISE -- Diversity in Franchising -- Home-Based Franchises -- E-Commerce in Franchising -- Using Technology in Franchising -- Franchising in Global Markets -- Cooperatives -- Which Form of Ownership Is for You? -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Domino's Still Rolling in the Dough -- Notes -- Chapter 6 Entrepreneurship and Starting a Small Business -- GETTING TO KNOW TRISTAN WALKER, FOUNDER OF WALKER AND COMPANY -- The Job-Creating Power of Entrepreneurs in the United States -- Why People Take the Entrepreneurial Challenge -- SPOTLIGHT ON SMALL BUSINESS STUDENT START-UPS -- What Does It Take to Be an Entrepreneur? -- Turning Your Passions and Problems into Opportunities -- Entrepreneurial Teams -- Entrepreneurship within Firms -- Micropreneurs and Home-Based Businesses -- Online Businesses -- Encouraging Entrepreneurship: What Government Can Do -- Getting Started in Small Business -- Small versus Big Business -- Importance of Small Businesses -- Small-Business Success and Failure -- Learning About Small-Business Operations -- Learn from Others -- Get Some Experience -- Take Over a Successful Firm.
MAKING ETHICAL DECISIONS SHOULD YOU STAY OR SHOULD YOU GO? -- Managing a Small Business -- Planning Your Business -- Financing Your Small Business -- Knowing Your Customers -- Managing Your Employees -- Keeping Records -- Looking for Help -- Going Global: Small-Business Prospects -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Launching a Business: Jcf Health and Fitness -- Notes -- Part 3 Business Management: Empowering Employees to Satisfy Customers -- Chapter 7 Management and Leadership -- GETTING TO KNOW KEVIN PLANK, FOUNDER OF UNDER ARMOUR -- Managers' Roles Are Evolving -- The Four Functions of Management -- Planning and Decision Making -- ADAPTING TO CHANGE WILL STRATEGY ROBOTS REPLACE MANAGERS? -- Decision Making: Finding the Best Alternative -- Organizing: Creating a Unified System -- Tasks and Skills at Different Levels of Management -- Staffing: Getting and Keeping the Right People -- CONNECTING THROUGH SOCIAL MEDIA WANT TO BE A SOCIAL MEDIA MANAGER? -- Leading: Providing Continuous Vision and Values -- Leadership Styles -- MAKING ETHICAL DECISIONS WHAT DO YOU TELL THE TEAM? -- Empowering Workers -- Managing Knowledge -- Controlling: Making Sure It Works -- A Key Criterion for Measurement: Customer Satisfaction -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Zappos's Team Approach -- Notes -- Chapter 8 Structuring Organizations for Today's Challenges -- GETTING TO KNOW DENISE MORRISON, CEO OF CAMPBELL SOUP COMPANY -- Organizing for Success -- Building an Organization from the Bottom Up -- The Changing Organization -- MAKING ETHICAL DECISIONS WOULD YOU SACRIFICE SAFETY FOR PROFITS? -- The Development of Organizational Design -- Turning Principles into Organizational Design -- Decisions to Make in Structuring Organizations -- Choosing Centralized or Decentralized Authority -- Choosing the Appropriate Span of Control -- Choosing between Tall and Flat Organizational Structures -- Weighing the Advantages and Disadvantages of Departmentalization -- Organizational Models -- Line Organizations -- Line-and-Staff Organizations -- Matrix-Style Organizations -- Cross-Functional Self-Managed Teams -- Going Beyond Organizational Boundaries -- ADAPTING TO CHANGE GOING BOSSLESS -- Managing the Interactions among Firms -- Transparency and Virtual Organizations -- Adapting to Change -- Restructuring for Empowerment -- CONNECTING THROUGH SOCIAL MEDIA BREAKING THE CONNECTION -- Creating a Change-Oriented Organizational Culture -- Managing the Informal Organization -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Freshii's Winning Organization -- Notes -- Chapter 9 Production and Operations Management -- GETTING TO KNOW SHAHID KHAN, CEO OF FLEX-N-GATE -- Manufacturing and Services in Perspective -- Manufacturers and Service Organizations Become More Competitive -- REACHING BEYOND OUR BORDERS CREATING SKILLED WORKERS WITH GERMAN-STYLE APPRENTICESHIPS -- From Production to Operations Management -- Operations Management in the Service Sector -- Production Processes -- The Need to Improve Production Techniques and Cut Costs -- Computer-Aided Design and Manufacturing -- Flexible Manufacturing -- Lean Manufacturing -- Mass Customization -- Robotics -- 3D Printing -- Using Sensing, Measurement, and Process Control -- ADAPTING TO CHANGE THE VAST POSSIBILITIES OF 3D PRINTING -- Operations Management Planning -- Facility Location -- Facility Location for Manufacturers -- Interfirm Operations Management -- Facility Location in the Future -- MAKING ETHICAL DECISIONS SHOULD WE STAY OR SHOULD WE GO? -- Facility Layout -- Materials Requirement Planning -- Purchasing -- Just-in-Time Inventory Control -- Quality Control -- The Baldrige Awards -- ISO 9001 and ISO 14001 Standards -- Control Procedures: PERT and Gantt Charts -- Preparing for the Future -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Production in the 21st Century -- Notes - Part 4 Management of Human Resources: Motivating Employees to Produce Quality Goods and Services -- Chapter 10 Motivating Employees -- GETTING TO KNOW KIM JORDAN, CEO OF NEW BELGIUM BREWING COMPANY -- The Value of Motivation -- Frederick Taylor: The "Father" of Scientific Management -- Elton Mayo and the Hawthorne Studies -- Motivation and Maslow's Hierarchy of Needs -- Herzberg's Motivating Factors -- Mcgregor's Theory X and Theory Y -- Theory X -- Theory Y -- Ouchi's Theory Z -- Goal-Setting Theory and Management by Objectives -- Meeting Employee Expectations: Expectancy Theory -- Treating Employees Fairly: Equity Theory -- Putting Theory into Action -- Motivating through Job Enrichment -- Motivating through Open Communication -- Applying Open Communication in Self-Managed Teams -- Recognizing a Job Well Done -- ADAPTING TO CHANGE EMPLOYEE ENGAGEMENT'S MOOD RING -- Personalizing Motivation -- Motivating Employees across the Globe -- Motivating Employees across Generations -- CONNECTING THROUGH SOCIAL MEDIA THREE CHEERS FOR PEERS! -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Appletree Answers -- Notes -- Chapter 11 Human Resource Management: Finding and Keeping the Best Employees -- GETTING TO KNOW HAMDI ULUKAYA, FOUNDER AND CEO OF CHOBANI -- Working with People Is Just the Beginning -- Developing the Ultimate Resource -- The Human Resource Challenge -- Laws Affecting Human Resource Management -- Laws Protecting Employees with Disabilities and Older Employees -- Effects of Legislation -- Determining a Firm's Human Resource Needs -- Recruiting Employees From a Diverse Population -- CONNECTING THROUGH SOCIAL MEDIA NEED A JOB? -- Selecting Employees Who Will Be Productive -- Hiring Contingent Workers -- CONNECTING THROUGH SOCIAL MEDIA LET'S FACE IT -- Training and Developing Employees for Optimum Performance -- MAKING ETHICAL DECISIONS Intern or Indentured Servant? -- Management Development -- Networking -- Diversity in Management Development -- Appraising Employee Performance to Get Optimum Results -- Compensating Employees: Attracting and Keeping the Best -- Pay Systems -- Compensating Teams -- Fringe Benefits -- REACHING BEYOND OUR BORDERS Managing a Global Workforce -- Scheduling Employees to Meet Organizational and Employee Needs -- Flextime Plans -- Home-Based Work -- Job-Sharing Plans -- Moving Employees Up, Over, and Out -- Promoting and Reassigning Employees -- Terminating Employees -- Retiring Employees -- Losing Valued Employees -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Teach for America -- Notes -- Chapter 12 Dealing with Employee-Management Issues -- GETTING TO KNOW LILY ESKELSEN GARCíA, PRESIDENT OF THE NEA -- Employee-Management Issues -- Labor Unions Yesterday and Today -- The History of Organized Labor -- Labor Legislation and Collective Bargaining -- SPOTLIGHT ON SMALL BUSINESS THE FIRE THAT SPARKED THE LABOR MOVEMENT -- Union Organizing Campaigns -- Objectives of Organized Labor over Time -- Resolving Labor-Management Disagreements -- Mediation and Arbitration -- Tactics Used in Labor-Management Conflicts -- Union Tactics -- Management Tactics -- The Future of Unions and Labor-Management Relations -- MAKING ETHICAL DECISIONS WALKING A FINE LINE -- Controversial Employee-Management Issues -- Executive Compensation -- Pay Equity -- ADAPTING TO CHANGE PAYING FOR UNDERPERFORMING -- Sexual Harassment -- Child Care -- Elder Care -- Drug Abuse and Drug Testing -- Violence and Bullying in the Workplace -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Working with Unions at Freeman -- Notes.
art 5 Marketing: Developing and Implementing Customer-Oriented Marketing Plans -- Chapter 13 Marketing: Helping Buyers Buy -- GETTING TO KNOW MICHELLE PHAN, FOUNDER OF IPSY -- What Is Marketing? -- The Evolution of Marketing -- CONNECTING THROUGH SOCIAL MEDIA SNAPPING UP A CUSTOMER BASE -- Nonprofit Organizations and Marketing -- The Marketing Mix -- Applying the Marketing Process -- Designing a Product to Meet Consumer Needs -- Setting an Appropriate Price -- Getting the Product to the Right Place -- Developing an Effective Promotional Strategy -- Providing Marketers with Information -- The Marketing Research Process -- The Marketing Environment -- Global Factors -- Technological Factors -- Sociocultural Factors -- Competitive Factors -- SPOTLIGHT ON SMALL BUSINESS CREATING MASS APPEAL FOR A CUSTOM PRODUCT -- Economic Factors -- Two Different Markets: Consumer and Business-to-Business (B2B) -- The Consumer Market -- Segmenting the Consumer Market -- Reaching Smaller Market Segments -- Building Marketing Relationships -- The Consumer Decision-Making Process -- ADAPTING TO CHANGE BUILDING RELATIONSHIPS BY BUILDING SUBSCRIBERS -- The Business-to-Business Market -- Your Prospects in Marketing -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Dunkin' Donuts and the 4 Ps -- Notes -- Chapter 14 Developing and Pricing Goods and Services -- GETTING TO KNOW ANTHONY KATZ, FOUNDER OF HYPERICE -- Product Development and the Total Product Offer -- CONNECTING THROUGH SOCIAL MEDIA PLAYING WITH THE SOCIAL GAMING STARS -- Distributed Product Development -- Product Lines and the Product Mix -- Product Differentiation -- Marketing Different Classes of Consumer Goods and Services -- Marketing Industrial Goods and Services -- Packaging Changes the Product -- The Growing Importance of Packaging -- Branding and Brand Equity -- MAKING ETHICAL DECISIONS NATURAL GOODS: REALLY FROM NATURE? 362 -- Brand Categories -- REACHING BEYOND OUR BORDERS PLAYING THE NAME GAME -- Generating Brand Equity and Loyalty -- Creating Brand Associations -- Brand Management -- The New-Product Development Process -- Generating New-Product Ideas -- Product Screening -- Product Analysis -- Product Development and Testing -- Commercialization -- The Product Life Cycle -- Example of the Product Life Cycle -- SPOTLIGHT ON SMALL BUSINESS MADE BY MOMMY -- Using the Product Life Cycle -- Competitive Pricing -- Pricing Objectives -- Cost-Based Pricing -- Demand-Based Pricing -- Competition-Based Pricing -- Break-Even Analysis -- Other Pricing Strategies -- How Market Forces Affect Pricing -- Nonprice Competition -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Developing New Products at Domino's -- Notes -- Chapter 15 Distributing Products -- GETTING TO KNOW TONY MCGEE, PRESIDENT AND CEO OF HNM GLOBAL LOGISTICS -- The Emergence of Marketing Intermediaries -- Why Marketing Needs Intermediaries -- SPOTLIGHT ON SMALL BUSINESS WHAT WAS MINE IS NOW YOURS -- How Intermediaries Create Exchange Efficiency -- The Value versus the Cost of Intermediaries -- The Utilities Created by Intermediaries -- Form Utility -- Time Utility -- Place Utility -- CONNECTING THROUGH SOCIAL MEDIA I'M LOVIN' ALL-DAY EGG MCMUFFINS -- Possession Utility -- Information Utility -- Service Utility -- Wholesale Intermediaries -- Merchant Wholesalers -- Agents and Brokers -- Retail Intermediaries -- Retail Distribution Strategy -- Online Retailing and other Nonstore Retailing -- Online Retailing -- Telemarketing -- Vending Machines, Kiosks, Carts, and Pop-Ups -- Direct Selling -- Multilevel Marketing -- Direct Marketing -- Building Cooperation in Channel Systems -- Corporate Distribution Systems -- Contractual Distribution Systems -- Administered Distribution Systems -- Supply Chains -- Logistics: Getting Goods to Consumers Efficiently -- Trains Are Great for Large Shipments -- ADAPTING TO CHANGE ONLINE GROCERY SHOPPING -- Trucks Are Good for Small Shipments to Remote Locations -- Water Transportation Is Inexpensive but Slow -- Pipelines Are Fast and Efficient -- Air Transportation Is Fast but Expensive -- Intermodal Shipping -- The Storage Function -- Tracking Goods -- What All This Means to Your Career -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: FedEx -- Notes -- Chapter 16 Using Effective Promotions -- GETTING TO KNOW MICHAEL DUBIN, COFOUNDER AND CEO OF DOLLAR SHAVE CLUB -- Promotion and the Promotion Mix -- Advertising: Informing, Persuading, and Reminding -- Television Advertising -- CONNECTING THROUGH SOCIAL MEDIA HOW SOCIAL MEDIA MOVE TV RATINGS -- Product Placement -- Infomercials -- Online Advertising -- Social Media Advertising -- Global Advertising -- Personal Selling: Providing Personal Attention -- REACHING BEYOND OUR BORDERS OREO: WORLD'S FAVORITE COOKIE? -- Steps in the Selling Process -- The Business-to-Consumer Sales Process -- Public Relations: Building Relationships -- Publicity: The Talking Arm of PR -- Sales Promotion: Giving Buyers Incentives -- Word of Mouth and Other Promotional Tools -- Social Networking -- Blogging -- Podcasting -- E-Mail Promotions -- Mobile Marketing -- Managing the Promotion Mix: Putting It all Together -- Promotional Strategies -- ADAPTING TO CHANGE OUTDOOR "EYES" ARE PULLING YOU IN -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: SXSW -- Notes -- Part 6 Managing Financial Resources -- Chapter 17 Understanding Accounting and Financial Information -- GETTING TO KNOW SHELLY SUN, CEO OF BRIGHTSTAR CARE -- The Role of Accounting Information -- What Is Accounting? -- The Accounting Cycle -- Using Technology in Accounting -- Understanding Key Financial Statements -- The Fundamental Accounting Equation -- The Balance Sheet -- Classifying Assets -- Liabilities and Owners' Equity Accounts -- The Income Statement -- Revenue -- Cost of Goods Sold -- SPOTLIGHT ON SMALL BUSINESS OUT WITH THE OLD -- IN WITH THE NEW -- Operating Expenses -- Net Profit or Loss -- The Statement of Cash Flows -- The Need for Cash Flow Analysis -- MAKING ETHICAL DECISIONS WHEN YOU ARE JUDGE AND JURY! 448 -- Analyzing Financial Performance Using Ratios -- Liquidity Ratios -- Leverage (Debt) Ratios -- Profitability (Performance) Ratios -- Activity Ratios -- Accounting Disciplines -- Financial Accounting -- Managerial Accounting -- Auditing -- ADAPTING TO CHANGE ACCOUNTING: CSI -- Tax Accounting -- Government and Not-for-Profit Accounting -- REACHING BEYOND OUR BORDERS THE WIDE, WIDE WORLD OF ACCOUNTING -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: The Accounting Function at Goodwill Industries -- Notes -- Chapter 18 Financial Management.
GETTING TO KNOW KATHY WALLER, EXECUTIVE VICE PRESIDENT AND CFO OF COCA-COLA -- The Role of Finance and Financial Managers -- The Value of Understanding Finance -- What Is Financial Management? -- Financial Planning -- Forecasting Financial Needs -- Working with the Budget Process -- Establishing Financial Controls -- The Need for Operating Funds -- Managing Day-by-Day Needs of the Business -- Controlling Credit Operations -- Acquiring Needed Inventory -- Making Capital Expenditures -- MAKING ETHICAL DECISIONS NOT WHAT THE DOCTOR ORDERED! -- Alternative Sources of Funds -- Obtaining Short-Term Financing -- Trade Credit -- Family and Friends -- Commercial Banks -- Different Forms of Short-Term Loans -- Factoring Accounts Receivable -- ADAPTING TO CHANGE FINANCING JUST A CLICK AWAY -- Commercial Paper -- Credit Cards -- Obtaining Long-Term Financing -- Debt Financing -- Equity Financing -- Comparing Debt and Equity Financing -- SPOTLIGHT ON SMALL BUSINESS LOOKING FOR A SLAM DUNK -- Lessons Learned from the Financial Crisis and Great Recession -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Starting Up: Tom and Eddie's -- Notes -- Chapter 19 Using Securities Markets for Financing and Investing Opportunities -- GETTING TO KNOW JIM CRAMER, HOST OF CNBC'S MAD MONEY -- The Function of Securities Markets -- The Role of Investment Bankers -- Stock Exchanges -- CONNECTING THROUGH SOCIAL MEDIA JOBS ACT RULES CROWDINVESTING -- Securities Regulations and the Securities and Exchange Commission -- Foreign Stock Exchanges -- How Businesses Raise Capital by Selling Stock -- Advantages and Disadvantages of Issuing Stock -- Issuing Shares of Common Stock -- Issuing Shares of Preferred Stock -- How Businesses Raise Capital by Issuing Bonds -- Learning the Language of Bonds -- Advantages and Disadvantages of Issuing Bonds -- Different Classes of Bonds -- Special Bond Features -- How Investors Buy Securities -- Investing through Online Brokers -- ADAPTING TO CHANGE R2-D2 TO THE INVESTOR'S RESCUE -- Choosing the Right Investment Strategy -- MAKING ETHICAL DECISIONS MONEY GOING UP IN SMOKE -- Reducing Risk by Diversifying Investments -- Investing in Stocks -- Stock Splits -- Buying Stock on Margin -- Understanding Stock Quotations -- Investing in Bonds -- Investing in High-Risk (Junk) Bonds -- Investing in Mutual Funds and Exchange-Traded Funds -- Understanding Stock Market Indicators -- Riding the Market's Roller Coaster -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: Where Did All My Money Go? -- Notes -- Chapter 20 Money, Financial Institutions, and the Federal Reserve -- GETTING TO KNOW JANET YELLEN, CHAIR OF THE FEDERAL RESERVE -- Why Money Is Important -- What Is Money? -- ADAPTING TO CHANGE SAYING GOODBYE TO BEN FRANKLIN -- Managing Inflation and the Money Supply -- The Global Exchange of Money -- Control of the Money Supply -- Basics about the Federal Reserve -- The Reserve Requirement -- Open-Market Operations -- The Discount Rate -- The Federal Reserve's Check-Clearing Role -- The History of Banking and the Need for the Fed -- Banking and the Great Depression -- The U.S. Banking System -- Commercial Banks -- Services Provided by Commercial Banks -- Services to Borrowers -- Savings and Loan Associations (S&Ls) -- Credit Unions -- Other Financial Institutions (Nonbanks) -- MAKING ETHICAL DECISIONS AN OPEN AND SHUT OPTION -- The Banking Crisis and How the Government Protects Your Money -- SPOTLIGHT ON SMALL BUSINESS BECOMING YOUR BEST FRIEND IN BANKING -- Protecting Your Funds -- The Federal Deposit Insurance Corporation (FDIC) -- The Savings Association Insurance Fund (SAIF) -- The National Credit Union Administration (NCUA) -- Using Technology to Make Banking More Efficient -- Online Banking -- International Banking and Banking Services -- Leaders in International Banking -- The World Bank and the International Monetary Fund -- REACHING BEYOND OUR BORDERS NEW DAY, NEW ISSUES ACROSS THE GLOBE -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Video Case: The Financial Crisis -- Notes -- Bonus Chapters -- Bonus Chapter A Working within the Legal Environment -- GETTING TO KNOW ALANNA RUTHERFORD, ATTORNEY -- The Case for Laws -- Statutory and Common Law -- Administrative Agencies -- Tort Law -- Product Liability -- Legally Protecting Ideas: Patents, Copyrights, and Trademarks -- Sales Law: The Uniform Commercial Code -- Warranties -- Negotiable Instruments -- Contract Law -- Breach of Contract -- Promoting Fair and Competitive Business Practices -- The History of Antitrust Legislation -- Laws to Protect Consumers -- Tax Laws -- Bankruptcy Laws -- Deregulation versus Regulation -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter B Using Technology to Manage Information -- GETTING TO KNOW BEN FRIED, CIO OF GOOGLE -- The Role of Information Technology -- Evolution from Data Processing to Business Intelligence -- How Information Technology Changes Business -- Types of Information -- Managing Information -- Big Data and Data Analytics -- Using Information from Social Media -- The Heart of Knowledge Management: The Internet -- Intranets -- Extranets -- Virtual Private Networks -- Broadband Technology -- Social Media and Web 2.0 -- Web 3.0 -- Who's the "Boss" of the Internet? -- Virtual Networking and Cloud Computing -- Effects of Information Technology on Management -- Human Resource Issues -- Security Issues -- Privacy Issues -- Stability Issues -- TECHNOLOGY AND YOU -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter C Managing Risk -- GETTING TO KNOW OLZA "TONY" NICELY, CEO OF GEICO -- Understanding Business Risks -- How Rapid Change Affects Risk Management -- Managing Risk -- Reducing Risk -- Avoiding Risk -- Self-Insuring -- Buying Insurance to Cover Risk -- What Risks Are Uninsurable? -- What Risks Are Insurable? -- Understanding Insurance Policies -- Rule of Indemnity -- Types of Insurance Companies -- Insurance Coverage for Various Kinds of Risk -- Health Insurance -- Health Savings Accounts -- Disability Insurance -- Workers' Compensation -- Liability Insurance -- Life Insurance for Businesses -- Insurance Coverage for Home-Based Businesses -- The Risk of Damaging the Environment -- Protection from Cyber Attacks -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Bonus Chapter D Managing Personal Finances -- GETTING TO KNOW ALEXA VON TOBEL, FOUNDER AND CEO OF LEARNVEST -- The Need for Personal Financial Planning -- Financial Planning Begins with Making Money -- Six Steps to Controlling Your Assets -- Building Your Financial Base -- Real Estate: Historically, a Relatively Secure Investment -- Tax Deductions and Home Ownership -- Where to Put Your Savings -- Learning to Manage Credit -- Protecting Your Financial Base: Buying Insurance -- Health Insurance -- Disability Insurance -- Homeowner's or Renter's Insurance -- Other Insurance -- Planning Your Retirement -- Social Security -- Individual Retirement Accounts (IRAs) -- Simple IRAs -- 401(k) Plans -- Keogh Plans -- Financial Planners -- Estate Planning -- Summary -- Key Terms -- Career Exploration -- Critical Thinking -- Developing Career Skills -- Putting Principles to Work -- Notes -- Epilogue Getting the Job You Want -- Job Search Strategy -- Searching for Jobs Online -- Job Search Resources -- Writing Your Résumé -- Putting Your Résumé Online -- Writing a Cover Letter -- Preparing for Job Interviews -- Being Prepared to Change Careers -- Glossary -- Name Index -- Organization Index -- Subject Index.
The content of this is the same on other formats. Long considered the Gold Standard for introduction to business courses, this comprehensive, readable text enhances teaching because the experienced author team revises in response to diverse, ever-changing course needs and learning styles. Real-world case studies ensure that students grapple with the most current challenges facing businesspeople today.
In English text.
9781260092332
Industrial management.
Business.
Business --Vocational guidance.
Management.
HD 31.2 / N53 2019