ISE Business Foundations: A Changing World

Cover
Business Foundations: A Changing World
Dedication
Authors
Welcome
Focused, Exciting, Applicable,Happening
New to This Edition
Acknowledgments
Brief Contents
Contents
Part 1: Business in a Changing World
	Chapter 1: The Dynamics of Business and Economics
		Enter the World of Business: Inside the Zoom Boom
		Introduction
		The Nature of Business
			The Goal of Business
			The People and Activities of Business
			Why Study Business?
		The Economic Foundations of Business
			Economic Systems
			The Free-Enterprise System
			The Forces of Supply and Demand
		Responding to Business Challenges: Taylor Swift Fights Scalpers
		The Nature of Competition
		Economic Cycles and Productivity
		Business Disruption: Competition Is Brewing in Kombucha Market
		The American Economy
			The Importance of the American Economy
			A Brief History of the American Economy
			Technology and the Economy
			The Role of the Entrepreneur
		Technology and the Economy: Up in the Air: Drones and Air Traffic Control
		The Role of Government in the American Economy
		The Role of Ethics and Social Responsibility in Business
		Can You Learn Business in a Classroom?
		So You Want a Job in the Business World
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 2: Business Ethics and Social Responsibility
		Enter the World of Business: Omaze-ing: Reinventing the Charity Model
		Introduction
		Business Ethics and Social Responsibility
		The Role of Ethics in Business
			Recognizing Ethical Issues in Business
			Fairness and Honesty
			Making Decisions about Ethical Issues
			Improving Ethical Behavior in Business
		The Nature of Social Responsibility
		Business Disruption: Tyson Looks for Sustainable Meat
		Social Responsibility Issues
		Consider Ethics and Social Responsibility Issues
		Building a Better Everyday Life with Ikea
		Responding to Business Challenges: Sherwin-Williams Paints Itself into a Corner
		Unemployment
		So You Want a Job in Business Ethics and Social Responsibility
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 3: Business in a Borderless World
		Enter the World of Business: Spotify: Streaming Everywhere
		Introduction
		The Role of International Business
			Why Nations Trade
			Trade between Countries
			Balance of Trade
		International Trade Barriers
			Economic Barriers
			Ethical, Legal, and Political Barriers
		Responding to Business Challenges:Harley-Davidson Gets Up to Speed in International Markets
		Social and Cultural Barriers
		Technological Barriers
		Trade Agreements, Alliances, and Organizations
		Business Disruption: Chinese Airlines Soaring to Great Heights
		General Agreement on Tariffs and Trade
		The United States_Mexico_Canada Agreement
		The European Union
		Asia-Pacific Economic Cooperation
		Technology and the Economy: Data Privacy Concerns Take the World by Storm
		Association of Southeast Asian Nations
		World Bank
		International Monetary Fund
		Getting Involved in International Business
			Exporting and Importing
			Trading Companies
			Licensing and Franchising
			Contract Manufacturing
			Outsourcing
			Offshoring
			Joint Ventures and Alliances
			Direct Investment
		International Business Strategies
			Developing Strategies
			Managing the Challenges of Global Business
		So You Want a Job in Global Business
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Part 2: Starting and Growing a Business
	Chapter 4: Options for Organizing Business
		Enter the World of Business: Big Tech Spends Big on Acquisitions
		Introduction
		Sole Proprietorships
			Advantages of Sole Proprietorships
			Disadvantages of Sole Proprietorships
		Partnerships
			Types of Partnership
			Articles of Partnership
			Advantages of Partnerships
			Disadvantages of Partnerships
			Taxation of Partnerships
		Corporations
			Creating a Corporation
			Types of Corporations
		Consider Ethics and Social Responsibility: Cascade Engineering: Go B Corp or Go Home
		Elements of a Corporation
		Advantages of Corporations
		Disadvantages of Corporations
		Entrepreneurship in Action
		Evrnu Slows Down Fast Fashion
			Other Types of Ownership
				Joint Ventures
				S Corporations
				Limited Liability Companies
				Cooperatives
			Trends in Business Ownership: Mergers and Acquisitions
		Responding to Business Challenges: J.Crew Says Bye to Its Leveraged Buyout
		So YouÍd Like to Start a Business
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 5: Small Business, Entrepreneurship, and Franchising
		Enter the World of Business: Subway Loses Its Way
		Introduction
		The Nature of Entrepreneurship and Small Business
			What Is a Small Business?
			The Role of Small Business in the American Economy
			Industries That Attract Small Business
		Entrepreneurship in Action: A Growing Success: Leola Produce Auction
		Advantages of Small-Business Ownership
			Independence
			Costs
			Flexibility
			Focus
		Consider Ethics and Social Responsibility
		Sseko Celebrates Women Every Day
			Reputation
			Disadvantages of Small-Business Ownership
				High Stress Level
				High Failure Rate
			Starting a Small Business
				The Business Plan
				Forms of Business Ownership
				Financial Resources
				Approaches to Starting a Small Business
				Help for Small-Business Managers
			The Future for Small Business
				Demographic Trends
				Technological and Economic Trends
		Technology and the Economy: An Entrepreneur Goes Digital for Growth
		Making Big Businesses Act "Small"
		So You Want to Be an Entrepreneur or Small-Business Owner
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Part 3: Managing for Quality and Competitiveness
	Chapter 6: The Nature of Management
		Enter the World of Business: Lowe's Undergoes a Major Remodel
		Introduction
		The Importance of Management
		Management Functions
			Planning
			Organizing
		Entrepreneurship in Action: Rebecca Ray Designs Has It in the Bag
		Directing
		Controlling
		Types of Management
			Levels of Management
			Areas of Management
		Skills Needed by Managers
			Technical Expertise
			Conceptual Skills
			Analytical Skills
			Human Relations Skills
		Leadership
			Employee Empowerment
		Responding to Business  Challenges: Potbelly Sandwiched in a Crowded Market
		Decision Making
			Recognizing and Defining the Decision Situation
			Developing Options
			Analyzing Options
		Business Disruption: Stripe CEO Rethinks Decision Making
		Selecting the Best Option
		Implementing the Decision
		Monitoring the Consequences
		Management in Practice
		So You Want to Be a Manager
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 7: Organization, Teamwork, and Communication
		Enter the World of Business: Elon Musk Breaks the Chain of Command
		Introduction
		Organizational Culture
		Developing Organizational  Structure
		Assigning Tasks
			Specialization
			Departmentalization
		Assigning Responsibility
			Delegation of Authority
		Entrepreneurship in Action: Sugar Bowl Bakery Is a Sweet Success
		Degree of Centralization
		Span of Management
		Organizational Structure
		Responding to Business  Challenges: SpaceX: Out of This World Communication
		Forms of Organizational Structure
			Line Structure
			Line-and-Staff Structure
			Multidivisional Structure
			Matrix Structure
		Technology and the Economy: Teamwork: Now Streaming at Netflix
		The Role of Groups and Teams in Organizations
			Committees
			Task Forces
			Teams
		Communicating in Organizations
			Formal and Informal Communication
			Monitoring Communications
			Improving Communication Effectiveness
		So You Want a Job in Managing Organizational Culture, Teamwork, and Communication
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 8: Managing Operations and Supply Chains
		Enter the World of Business: Walmart Invests in Tech to Tackle the Competition
		Introduction
		The Nature of Operations Management
			The Transformation Process
			Operations Management in Service Businesses
		Planning and Designing Operations Systems
			Planning the Product
			Designing the Operations Processes
		Technology and the Economy: Sunny Skies Ahead for Weather Insights
		Planning Capacity
		Planning Facilities
		Entrepreneurship in Action: Attabotics Startup Sets Its Sights on Supply Chain Automation
		Sustainability and Manufacturing
		Managing the Supply Chain
			Procurement
			Managing Inventory
			Outsourcing
		Responding to Business Challenges: Target Aims for Bullseye with Supply Chain Improvements
		Routing and Scheduling
		Managing Quality
			International Organization for Standardization (ISO)
			Inspection
			Sampling
		Integrating Operations and Supply Chain Management
		So You Want a Job in Operations Management
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Part 4: Creating the Human Resource Advantage
	Chapter 9: Motivating the Workforce
		Enter the World of Business: Hilton Motivates Its Employees with a Touch of Hospitality
		Introduction
		Nature of Human Relations
		Historical Perspectives on Employee Motivation
			Classical Theory of Motivation
			The Hawthorne Studies
		Theories of Employee Motivation
			MaslowÍs Hierarchy of Needs
		Responding to Business Challenges: Burgerville's Employee Motivation Strategy Is Hot off the Grill
		Herzberg's Two-Factor Theory
		McGregor's Theory X and Theory Y
		Consider Ethics and Social Responsibility
		A Perfect Fit: PatagoniaÍs Passionate  Employees
			Theory Z
			Equity Theory
			Expectancy Theory
			Goal-Setting Theory
			Strategies for Motivating Employees
				Behavior Modification
				Job Design
		Business Disruption: Lockheed Martin Flexes Its Work  Schedule
		Importance of Motivational Strategies
		So You Think You May Be Good Motivating a Workforce
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 10: Managing Human Resources
		Enter the World of Business: Estée Lauder Makes Over Diversity and Inclusion
		Introduction
		The Nature of Human Resource Management
		Planning for Human Resource Needs
		Recruiting and Selecting New Employees
			Recruiting
		Technology and the Economy: Ultimate Software Introduces the Ultimate Human Resource Tool
		Selection
		Legal Issues in Recruiting and Selecting
		Developing the Workforce
			Training and Development
			Assessing Performance
			Turnover
		Compensating the Workforce
			Financial Compensation
			Benefits
		Business Disruption: Pay Day: Employers Choose Bonuses over Raises
		Managing Unionized Employees
			Collective Bargaining
			Resolving Disputes
		The Importance of Workforce Diversity, Equity, and Inclusion
			The Characteristics of Diversity
			Why Are Diversity, Equity, and Inclusion Important?
			The Benefits of Diversity, Equity, and Inclusion
		Consider Ethics and Social Responsibility: Women "Lean in" to Leadership
		Affirmative Action
		Employee Relationships and Sexual Harassment
		Trends in Management of the Workforce
		So You Want to Work in Human Resources
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Part 5: Marketing: Developing Relationships
	Chapter 11: Customer-Driven Marketing
		Enter the World of Business: Lucid Goes for Luxury with Electric Vehicles
		Introduction
		Nature of Marketing
			The Exchange Relationship
			Functions of Marketing
			Creating Value with Marketing
			The Marketing Concept
		Technology and the Economy: Virtual Reality Conceals the World, Augmented Reality Improves It
		Evolution of the Marketing Concept
		Responding to Business Challenges: Kraft Heinz Plays Ketchup
		Developing a Marketing Strategy
			Selecting a Target Market
		Consider Ethics and Social Responsibility: Ford's F-150 Races Ahead
		Marketing Research and Information Systems
			Online Marketing Research
		Buying Behavior
			Psychological Variables of Buying Behavior
			Social Variables of Buying Behavior
			Understanding Buying Behavior
		The Marketing Environment
		Importance of Marketing to Business and Society
		So You Want a Job in Marketing
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 12: Dimensions of Marketing Strategy
		Enter the World of Business: The Secret to Trader Joe's Private Label
		Introduction
		The Marketing Mix
		Product Strategy
			Developing New Products
			Classifying Products
			Product Line and Product Mix
			Product Life Cycle
		Entrepreneurship in Action
		Fitness Mirror Entrepreneur Reflects on  $500 Million Sale
			Identifying Products
		Consider Ethics and Social Responsibility: Pepsi Named Top Plastic Polluter
		Pricing Strategy
			Pricing Objectives
			Specific Pricing Strategies
		Distribution Strategy
			Marketing Channels
		Business Disruption: Off the Rack: This Modern Mall Concept Buckles Down
		Logistics Management
		Intensity of Market Coverage
		Importance of Distribution in a Marketing Strategy
		Promotion Strategy
			The Promotion Mix
			Promotion Strategies: To Push or to Pull
			Objectives of Promotion
			Promotional Positioning
		Importance of Marketing Strategy
		So You Want to Be a Marketing Manager
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 13: Digital Marketing and Social Media
		Enter the World of Business: Fake Out: Amazon Kicks Counterfeits to the Curb
		Introduction
		Growth and Benefits of Digital Communication
		Using Digital Media in Business
		Digital Media and the Marketing Mix
		Technology and the Economy: Shopify Aims for E-Commerce Domination
		Social Media Marketing
		Consumer-Generated Marketing and Digital Media
		Consider Ethics and Social Responsibility
		Insta-Scam: Brands Crack Down on Influencer Fraud
			Social Networks
			Blogs and Wikis
			Media Sharing
			Mobile Marketing
		Business Disruption: The Music Industry Gets a Tune Up
		Applications
		Online Monitoring and Analytics
		Using Digital Media to Learn About Consumers
		Ethical and Legal Issues in Digital Marketing
			Privacy
			Transparency
			Identity Theft and Online Fraud
			Intellectual Property Theft and Other Illegal Activities
		Digital MediaÍs Impact on Marketing
		So You Want to Be a Digital Marketer
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Part 6: Financing the Enterprise
	Chapter 14: Accounting and Financial Statements
		Enter the World of Business: Holding Ernst & Young Accountable
		Introduction
		The Nature of Accounting
			Accountants
			Accounting or Bookkeeping?
			The Uses of Accounting Information
		Business Disruption:Big Four under Big Pressure
		The Accounting Process
			The Accounting Equation
		Technology and the Economy: Artificial Intelligence Transforms Accounting Intelligence
		Double-Entry Bookkeeping
		The Accounting Cycle
		Financial Statements
			The Income Statement
			The Balance Sheet
			The Statement of Cash Flows
		Ratio Analysis: Analyzing Financial Statements
			Profitability Ratios
			Asset Utilization Ratios
			Liquidity Ratios
			Debt Utilization Ratios
			Per Share Data
			Industry Analysis
		Importance of Integrity in Accounting
		Consider Ethics and Social Responsibility
		Women in Accounting: Gender Equality IsnÍt Adding Up
		So You Want to Be an Accountant
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 15: Money and the Financial System
		Enter the World of Business: COVID-19: Saving Makes Cents
		Introduction
		Money in the Financial System
			Functions of Money
			Characteristics of Money
			Types of Money
		Business Disruption: Why Dogecoin Is No Longer a Joke
		The American Financial System
			The Federal Reserve System
			Banking Institutions
			Nonbanking Institutions
		Consider Ethics and Social Responsibility
		The Federal Reserve Leans on Blackrock
			Electronic Banking
			Future of Banking
		Technology and the Economy: Digging into the Digital Wallet
		So YouÍre Interested in Financial Systems or Banking
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
	Chapter 16: Financial Management and Securities Markets
		Enter the World of Business: Why Financial Services Are Targeting Women
		Introduction
		Managing Current Assets and Liabilities
			Managing Current Assets
			Managing Current Liabilities
		Managing Fixed Assets
			Capital Budgeting and Project Selection
			Assessing Risk
			Pricing Long-Term Money
		Financing with Long-Term Liabilities
			Bonds: Corporate IOUs
			Types of Bonds
		Financing with Owners' Equity
		Entrepreneurship in Action: Bird Scooters Take Flight
		Investment Banking
		Business Disruption
		Willing to Lose: Young Investors Day Trade During the COVID-19 Lockdown
			The Securities Markets
				Stock Markets
				The Over-the-Counter Market
				Measuring Market Performance
		Technology and the Economy: Cashing in on New Technologies in Finance
		So You Want to Work in Financial Management or Securities
		Review Your Understanding
		Learn the Terms
		Check Your Progress
		Get Involved
		Build Your Skills
		Solve the Dilemma
		Build Your Business Plan
		See for Yourself Case
		Team Exercise
		Notes
		Credits
Bonus Chapters
	A. The Legal and Regulatory Environment
	B. Personal Financial Planning
Glossary
Indexes
	Name Index
	Company/Organization Index
	Subject Index