Business in Action with Real Time Updates

by Bovee, Courtland L.; Thill, John V.

Edition:

4th

ISBN13:

9780131492660

ISBN10:

0131492667

Format:

Paperback

Pub. Date:

1/1/2008

Publisher(s):

Prentice Hall

Upgraded Edition: Click here!

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Summary

Business in Action, 3/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. 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. An excellent resource for managers, corporate trainers, and those interesting in owning and operating small to medium businesses; this book is also a must-read for people just entering the corporate job market.

Preface

Part 1 Conducting Business in the Global Economy

(89)

Understanding the Fundamentals of Business and Economics

(37)

Behind the Scenes Making Dollars and Sense of Online Music at Apple iTunes

(1)

Why Study Business?

(1)

Learning from Business Blunders

(1)

What Is a Business?

(1)

Technologies That Are Revolutionizing Business: Instant Messaging

(2)

Goods-Producing Businesses Versus Service Businesses

(1)

Growth of the Service Sector

(1)

What Is an Economic System?

(3)

Types of Economic Systems

(3)

The Trend Toward Privatization

(1)

How Does a Free-Market Economic System Work?

(3)

The Theory of Supply and Demand in a Free-Market System

(2)

Competition in a Free-Market System

(1)

LivePerson Puts a Pulse on the Web

(7)

Government's Role in a Free-Market System

(5)

How a Free-Market System Monitors Its Economic Performance

(1)

Challenges of a Global Economy

(1)

The Electronic Economy: Redefining Reality

(1)

Summary of Learning Objectives

(1)

Behind the Scenes Moving the Music at Apple iTunes

(1)

Key Terms

(1)

Test Your Knowledge

(1)

Practice Your Knowledge

(1)

Expand Your Knowledge

(1)

See it on the Web

(1)

Find the Right Stuff

(1)

Step Inside the Economic Statistics Briefing Room

(1)

Discover What's in the CPI

(1)

Companion Website

(1)

Video Case: Helping Businesses Do Business: U.S. Department of Commerce

(2)

Appendix A Reviewing Internet and E-Commerce Fundamentals

(1)

Understanding the Internet

(1)

Finding Information on the Internet

(3)

Understanding Search Engines, Web Directories, and Databases

(1)

Using Search Tools Effectively

(2)

Using Agents

(1)

How the Internet Is Changing the Way Companies Do Business

(1)

Intranets

(2)

Extranets

(1)

Understanding Electronic Commerce

(1)

What Is the Difference Between E-Commerce and E-Business?

(1)

Hot Topics and Issues in E-Commerce and E-Business

(1)

Channel Management

(2)

Information Privacy

(1)

Employee Productivity

(1)

Data Security

(1)

Sabotage and Cyberterrorism

(1)

Glossary

(2)

Practicing Ethical Behavior and Social Responsibility

(25)

Behind the Scenes Beyond the Pursuit of Personal Profit: Patagonia Gears Up to Protect the Environment

(1)

Ethics and Social Responsibility in Contemporary Business

(4)

What Is Ethical Behavior?

(1)

Factors Influencing Ethical Behavior

(1)

Learning from Business Blunders

(2)

Actions Speak Louder Than Codes

(5)

How Do You Make Ethical Decisions?

(1)

Perspectives on Corporate Social Responsibility

(4)

Business's Efforts to Increase Social Responsibility

(1)

Responsibility Toward Society and the Environment

(1)

Ben and Jerry's: A Double Scoop of Irony?

(3)

Responsibility Toward Consumers

(1)

Technologies That Are Revolutionizing Business: Location and Tracking Technologies

(1)

Responsibility Toward Investors

(2)

Responsibility Toward Employees

(2)

Ethics and Social Responsibility Around the World

(1)

Summary of Learning Objectives

(1)

Behind the Scenes Patagonia: Reaching the Top by Doing the Right Thing

(1)

Key Terms

(1)

Test Your Knowledge

(1)

Practice Your Knowledge

(1)

Expand Your Knowledge

(1)

See it on the Web

(1)

Build a Better Business

(1)

Surf Safely

(1)

Protect the Environment

(1)

Companion Website

(1)

Video Case: Doing the Right Thing: American Red Cross

(1)

Competing in the Global Economy

(27)

Behind the Scenes Whirlpool: Caught in the Wringer of Global Business

(1)

Fundamentals of International Trade

(5)

Why Nations Trade

(1)

How International Trade Is Measured

(2)

Trade Restrictions

(1)

Agreements and Organizations Promoting International Trade

(1)

Technologies That Are Revolutionizing Business: Telepresence

(4)

Trading Blocs

(2)

Foreign Exchange Rates and Currency Valuations

(1)

The Global Business Environment

(1)

How to Avoid Making Business Mistakes Abroad

(1)

Cultural Differences in the Global Business Environment

(1)

Learning from Business Blunders

(4)

Legal Differences in the Global Business Environment

(2)

Forms of International Business Activity

(2)

China's Counterfeit Economy

(2)

Strategic Approaches to International Markets

(1)

Terrorism's Impact on the Global Business Environment

(1)

Summary of Learning Objectives

(1)

Behind the Scenes Doing Everybody's Wash --- Whirlpool's Global Lesson

(1)

Key Terms

(1)

Test Your Knowledge

(1)

Practice Your Knowledge

(1)

Expand Your Knowledge

(1)

See it on the Web

(1)

Navigating Global Business Differences

(1)

Going Global

(1)

Banking on the World Bank

(1)

Companion Website

(1)

Video Case: Entering the Global Marketplace: Lands' End and Yahoo!

(1)

E-Business in Action The Biggest Audience in the Whole Wide World Wide Web

(1)

Business Planpro Exercises

(1)

Part 2 Starting and Organizing a Business

(50)

Selecting the Optimum Form of Business Ownership and Exploring Business Combinations

(23)

Behind the Scenes Growing Pains at Kinko's

(1)

Choosing a Form of Business Ownership

(3)

Sole Proprietorships

(1)

Partnerships

(1)

Technologies That Are Revolutionizing Business: Groupware

(7)

Corporations

(6)

Understanding Business Combinations

101

(3)

Mergers and Acquisitions

101

(1)

Advantages of Mergers and Acquisitions

102

(1)

Disadvantages of Mergers and Acquisitions

103

(1)

Learning from Business Blunders

104

(1)

Current Trends in Mergers and Acquisitions

104

(1)

DaimlerChrysler: Merger of Equals or Global Fender Bender?

105

(1)

Merger and Acquisition Defenses

105

(1)

Hey, Wanna Lose a Few Billion? We Have a Sure Deal for You

106

(2)

Strategic Alliances and Joint Ventures

107

(1)

Summary of Learning Objectives

108

(1)

Behind the Scenes Restructuring Kinko's Partnerships to Duplicate Success

108

(1)

Key Terms

109

(1)

Test Your Knowledge

110

(1)

Practice Your Knowledge

110

(1)

Expand Your Knowledge

111

(1)

See it on the Web

111

(1)

Choose a Form of Ownership

111

(1)

Follow the Fortunes of the Fortune 500

112

(1)

Build a Great Board

112

(1)

Companion Website

112

(1)

Video Case: Doing Business Privately: Amy's Ice Creams

112

(1)

Starting and Financing a Small Business

113

(27)

Behind the Scenes Why is Papa John's Rolling in Dough?

114

(1)

Understanding the World of Small Business

114

(3)

Economic Roles of Small Businesses

115

(1)

Characteristics of Small Businesses

115

(2)

David Competes with Goliath Online

117

(2)

Factors Contributing to the Increase in the Number of Small Businesses

117

(2)

Starting a Small Business

119

(1)

Characteristics of Entrepreneurs

119

(1)

Technologies That Are Revolutionizing Business: Social Network Applications

120

(2)

Importance of Preparing a Business Plan

120

(1)

Small-Business Ownership Options

121

(1)

Learning from Business Blunders

122

(1)

The Franchise Alternative

122

(1)

Blueprint for an Effective Business Plan

123

(5)

Why New Businesses Fail

126

(1)

Sources of Small-Business Assistance

127

(1)

Financing a New Business

128

(3)

Length of Term

128

(1)

Cost of Capital

128

(1)

Debt Versus Equity Financing

129

(1)

Private Financing Sources

130

(1)

Summary of Learning Objectives

131

(1)

Behind the Scenes Papa John's' Piping Hot Performance

132

(1)

Key Terms

133

(1)

Test Your Knowledge

133

(1)

Practice Your Knowledge

134

(1)

Expand Your Knowledge

134

(1)

See it on the Web

135

(1)

Guide Your Way to Small Business Success

135

(1)

Start a Small Business

135

(1)

Learn the ABCs of IPOs

135

(1)

Companion Website

135

(1)

Video Case: Managing Growth at Student Advantage

136

(1)

E-Business in Action The Rise, Fall, and Rise of Dot-Coms

137

(2)

Business Planpro Exercises

139

(1)

Part 3 Managing a Business

140

(80)

Understanding the Functions and Roles of Management

140

(25)

Behind the Scenes Nokia: A Finnish Fable

141

(1)

The Four Basic Functions of Management

141

(6)

The Planning Function

142

(4)

The Organizing Function

146

(1)

JetBlue: Making Tough Decisions in Tough Times

147

(5)

The Leading Function

148

(4)

How Much Do You Know About the Company's Culture?

152

(2)

The Controlling Function

153

(1)

Learning from Business Blunders

154

(2)

Management Skills

156

(1)

Technologies That Are Revolutionizing Business: Business Intelligence Systems

157

(2)

Interpersonal Skills

157

(1)

Technical Skills

157

(2)

Conceptual Skills

159

(1)

Summary of Learning Objectives

159

(1)

Behind the Scenes Nokia's Secret

160

(1)

Key Terms

161

(1)

Test Your Knowledge

161

(1)

Practice Your Knowledge

162

(1)

Expand Your Knowledge

162

(1)

See it on the Web

163

(1)

Become a Better Manager

163

(1)

Linking to Organizational Change

163

(1)

Learn From the Best---and the Worst

163

(1)

Companion Website

163

(1)

Video Case: Creative Management: Creative Age Publications

164

(1)

Organizing and Working in Teams

165

(26)

Behind the Scenes Reinventing the Retail Experience at The Container Store

166

(1)

Designing an Effective Organization Structure

166

(2)

Identifying Job Responsibilities

167

(1)

Technologies That Are Revolutionizing Business: Wireless Networking

168

(3)

Defining the Chain of Command

168

(3)

Learning from Business Blunders

171

(3)

Organizing the Workforce

171

(3)

Working in Teams

174

(2)

What Is a Team?

175

(1)

Types of Teams

175

(1)

Mervyn's Calls SWAT Team to the Rescue

176

(2)

Don't Leave Home: American Express's Virtual Environment

178

(7)

Advantages and Disadvantages of Working in Teams

179

(1)

Characteristics of Effective Teams

179

(3)

Five Stages of Team Development

182

(1)

Team Conflict

182

(1)

Productive Team Meetings

183

(2)

Summary of Learning Objectives

185

(1)

Behind the Scenes Teaming Up for Success at The Container Store

186

(1)

Key Terms

187

(1)

Test Your Knowledge

187

(1)

Practice Your Knowledge

188

(1)

Expand Your Knowledge

188

(1)

See it on the Web

189

(1)

Build Teams in the Cyber Age

189

(1)

Be Direct

189

(1)

Resolve Conflict Like a Pro

189

(1)

Companion Website

189

(1)

Video Case: Juicing Up the Organization: Nantucket Nectars

190

(1)

Producing Quality Goods and Services

191

(29)

Behind the Scenes Harley Davidson Goes Full Throttle

192

(1)

Understanding Production and Operations Management

192

(4)

What Is Production?

193

(1)

The Value Chain and the Conversion Process

193

(1)

The Unique Challenges of Service Delivery

194

(1)

Mass Production, Mass Customization, and Customized Production

195

(1)

Outsourcing

196

(1)

Designing the Production Process

196

(1)

Establishing the Supply Chain

196

(1)

Offshoring: Profit, Yes, But at What Cost?

197

(5)

Forecasting Demand

198

(1)

Planning for Capacity

198

(1)

Choosing a Facility Location

199

(1)

Designing a Facility Layout

200

(2)

A Bike That Really Travels

202

(2)

Scheduling Work

202

(2)

Improving Production Through Technology

204

(1)

Computer-Aided Design and Computer-Aided Engineering

204

(1)

Technologies That Are Revolutionizing Business: Nanotechnology

205

(2)

Computer-Aided Manufacturing and Computer-Integrated Manufacturing

205

(1)

Flexible Manufacturing Systems

205

(1)

Electronic Data Interchange

206

(1)

Managing and Controlling the Production Process

207

(1)

Coordinating the Supply Chain

207

(3)

Learning from Business Blunders

210

(1)

Assuring Product Quality

210

(3)

Summary of Learning Objectives

212

(1)

Behind the Scenes Harley Davidson Revs Its Engines Toward Higher Output and Productivity

213

(1)

Key Terms

214

(1)

Test Your Knowledge

215

(1)

Practice Your Knowledge

215

(1)

Expand Your Knowledge

216

(1)

See it on the Web

216

(1)

Step Inside ISO Online

216

(1)

Make Quality Count

216

(1)

Follow This Path to Continuous Improvement

217

(1)

Companion Website

217

(1)

Video Case: Managing Production Around the World: Body Glove

217

(1)

E-Business in Action Whatever Happened to B2B Exchanges?

218

(1)

Business Planpro Exercises

219

(1)

Part 4 Managing Employees

220

(56)

Motivating Today's Workforce and Handling Employee--Management Relations

220

(28)

Behind the Scenes Learning the Art of Motivation at Atlas Container

221

(1)

Understanding Human Relations

221

(1)

Motivating Employees

222

(4)

What Is Motivation?

222

(1)

Theories of Motivation

223

(3)

Learning from Business Blunders

226

(3)

Motivational Strategies

227

(2)

Keeping Pace with Today's Workforce

229

(3)

Staffing Challenges

229

(3)

Chuckle While You Work

232

(2)

Demographic Challenges

232

(2)

Too Many Workers? Not for Long

234

(3)

Alternative Work Arrangements

235

(2)

Technologies That Are Revolutionizing Business: Telecommuting Technologies

237

(1)

Working with Labor Unions

238

(1)

The Collective Bargaining Process

238

(5)

The Labor Movement Today

241

(1)

Summary of Learning Objectives

242

(1)

Behind the Scenes Giving Employees a Voice at Atlas Container

243

(1)

Key Terms

244

(1)

Test Your Knowledge

244

(1)

Practice Your Knowledge

245

(1)

Expand Your Knowledge

245

(1)

See it on the Web

246

(1)

Working Hard on the Web

246

(1)

Learn the Language of Equal Opportunity

246

(1)

Spreading the Union Message

246

(1)

Companion Website

246

(1)

Video Case: Keeping Labor-Management Relations on Track: Witt Firm

246

(2)

Managing Human Resources

248

(28)

Behind the Scenes Brewing Up People Policies for Chainwide Success

249

(1)

Understanding What Human Resources Managers Do

249

(2)

Planning for a Company's Staffing Needs

251

(2)

Forecasting Supply and Demand

252

(1)

Technologies That Are Revolutionizing Business: Assistive Technologies

253

(2)

Evaluating Job Requirements

254

(1)

Recruiting, Hiring, and Training New Employees

255

(2)

The Hiring Process

255

(2)

Learning from Business Blunders

257

(2)

Training and Development

258

(1)

Click and Learn: E-Training Today's Employees

259

(1)

Appraising Employee Performance

260

(1)

Administering Compensation and Employee Benefits

261

(5)

Salaries and Wages

261

(1)

Incentive Programs

262

(1)

Employee Benefits and Services

263

(3)

Overseeing Changes in Employment Status

266

(1)

Should Employees Pay to Keep Their Jobs?

267

(2)

Promoting and Reassigning Employees

267

(1)

Terminating Employees

268

(1)

Retiring Employees

268

(1)

Summary of Learning Objectives

269

(1)

Behind the Scenes Perking Up the Perfect Blend at Starbucks

269

(1)

Key Terms

270

(1)

Test Your Knowledge

271

(1)

Practice Your Knowledge

271

(1)

Expand Your Knowledge

271

(1)

See it on the Web

272

(1)

Explore the Latest Workforce Management Ideas

272

(1)

Digging Deeper at the Bureau of Labor Statistics

272

(1)

Maximizing Your Earning Potential

272

(1)

Companion Website

273

(1)

Video Case: Channeling Human Resources at Showtime

273

(1)

E-Business in Action Job Recruiting Moves Online

274

(1)

Business Planpro Exercises

275

(1)

Part 5 Developing Marketing Strategies to Satisfy Customers

276

(59)

Developing Product and Pricing Strategies

276

(31)

Behind the Scenes Flying High with Adobe Acrobat

277

(1)

What Is Marketing?

277

(5)

The Role of Marketing in Society

279

(1)

The Marketing Concept

280

(2)

Learning from Business Blunders

282

(2)

Your Right to Privacy Versus the Marketing Databases

284

(1)

Technologies That Are Revolutionizing Business: Data Mining

285

(1)

Planning Your Marketing Strategies

285

(4)

Step 1: Examining Your Current Marketing Situation

286

(1)

Step 2: Assessing Your Opportunities and Setting Your Objectives

287

(1)

Step 3: Developing Your Marketing Strategy

288

(1)

Questionable Marketing Tactics on Campus

289

(3)

Developing Product Strategies

292

(7)

Types of Products

293

(2)

The Product Life Cycle

295

(1)

Product Identities

296

(2)

Product-Line and Product-Mix Strategies

298

(1)

Developing Pricing Strategies

299

(2)

Cost-Based and Price-Based Pricing

300

(1)

Price Skimming

300

(1)

Penetration Pricing

300

(1)

Price Discounts

301

(1)

Summary of Learning Objectives

301

(1)

Behind the Scenes Turning a Profit by Giving Away the Product

302

(1)

Key Terms

303

(1)

Test Your Knowledge

303

(1)

Practice Your Knowledge

304

(1)

Expand Your Knowledge

304

(1)

See it on the Web

305

(1)

305

(1)

Fill Your Marketing Toolkit at MarketingPower.com

305

(1)

Protect Your Trademark

305

(1)

Companion Website

305

(1)

Video Case: Sending Products into Space: MCCI

306

(1)

Developing Distribution and Promotional Strategies

307

(28)

Behind the Scenes Scaling New Heights at REI

308

(1)

Developing Distribution Strategies

308

(8)

Understanding the Role of Marketing Intermediaries

309

(2)

Selecting Your Marketing Channels

311

(2)

Managing Physical Distribution

313

(2)

Incorporating the Internet into Your Distribution Strategies

315

(1)

Developing Promotional Strategies

316

(1)

Setting Your Promotional Goals

316

(1)

Analyzing Product Variables

316

(1)

Learning from Business Blunders

317

(1)

Deciding on Your Market Approach

317

(1)

Where Did the Audience Go?

318

(4)

Selecting Your Promotional Mix

319

(3)

Technologies That Are Revolutionizing Business: Individualized Advertising

322

(2)

The Rise, Fall---and Rise---of Online Advertising

324

(3)

Integrating Your Marketing Communications

326

(1)

Summary of Learning Objectives

327

(1)

Behind the Scenes REI's Perfect Blend of Retail and E-Tail Channels

328

(1)

Key Terms

329

(1)

Test Your Knowledge

329

(1)

Practice Your Knowledge

330

(1)

Expand Your Knowledge

330

(1)

See it on the Web

331

(1)

Explore the World of Wholesaling

331

(1)

Learn the Consumer Marketing Laws

331

(1)

See How the Pros Put Marketing to Work

331

(1)

Companion Website

331

(1)

Video Case: Revving Up Promotion: BMW Motorcycles

332

(1)

E-Business in Action Clicks and Bricks: Bridging the Physical and Virtual Worlds

333

(1)

Business Planpro Exercises

334

(1)

Part 6 Managing Financial Information and Resources

335

(100)

Analyzing and Using Financial Information

335

(27)

Behind the Scenes When Giants Fall: The Collapse of MCI

336

(1)

Understanding Accounting

336

(4)

What Accountants Do

337

(1)

The Rules of Accounting

338

(2)

Technologies That Are Revolutionizing Business: Compliance Management Software

340

(1)

Fundamental Accounting Concepts

340

(1)

Putting Public Accountability into Public Accounting

341

(2)

The Accounting Equation

342

(1)

Double-Entry Bookkeeping and the Matching Principle

342

(1)

Using Financial Statements

343

(7)

Understanding Financial Statements

344

(4)

Analyzing Financial Statements

348

(2)

How to Read an Annual Report

350

(3)

Understanding Financial Management

353

(2)

Developing and Implementing a Financial Plan

353

(1)

Monitoring Cash Flow

354

(1)

Developing a Budget

354

(1)

Learning from Business Blunders

355

(1)

Summary of Learning Objectives

355

(1)

Behind the Scenes Getting MCI Back on Its Feet

356

(1)

Key Terms

357

(1)

Test Your Knowledge

358

(1)

Practice Your Knowledge

358

(1)

Expand Your Knowledge

359

(1)

See it on the Web

360

(1)

Link Your Way to the World of Accounting

360

(1)

Sharpen Your Pencil

360

(1)

Think Like an Accountant

360

(1)

Companion Website

360

(1)

Video Case: Accounting for Billions of Burgers: McDonald's

361

(1)

Understanding Banking and Securities

362

(73)

Behind the Scenes Schwab Puts It All Online

363

(1)

Money and Financial Institutions

363

(2)

Characteristics and Types of Money

364

(1)

Surprise! You've Been Swiped

365

(1)

Technologies That Are Revolutionizing Business: Credit Scoring Software

366

(3)

Financial Institutions and Services

366

(2)

Bank Safety and Regulation

368

(1)

The Evolving U.S. Banking Environment

368

(1)

Types of Securities Investments

369

(4)

Stocks

369

(1)

Bonds

370

(2)

Mutual Funds

372

(1)

Securities Markets

373

(3)

Securities Exchanges

373

(1)

How to Buy and Sell Securities

374

(2)

Put Your Money Where Your Mouse Is

376

(7)

How to Analyze Financial News

376

(3)

Industry Challenges

379

(2)

Regulation of Securities Markets

381

(2)

Learning from Business Blunders

383

(1)

Summary of Learning Objectives

383

(1)

Behind the Scenes Transforming the Trendsetter

384

(1)

Key Terms

385

(1)

Test Your Knowledge

385

(1)

Practice Your Knowledge

386

(1)

Expand Your Knowledge

386

(1)

See it on the Web

387

(1)

Tour the U.S. Treasury

387

(1)

Stock Up at The NYSE

387

(1)

Invest Wisely---Like a Fool

387

(1)

Companion Website

387

(1)

Video Case: Learn More to Earn More with Motley Fool

388

(1)

E-Business in Action Internet Banks Hit a Brick Wall

389

(1)

Business Planpro Exercises

390

(1)

Appendix B The U.S. Legal System

391

(9)

Appendix C Personal Finance: Getting Set for Life

400

(16)

Appendix D Your Business Plan

416

(2)

Appendix E Careers in Business and the Employment Search

418

(17)

References

435

(25)

Glossary

460

(11)

Company/Brand/Organization Index

471

(4)

Subject Index

475

Business in Action with Real Time Updates

9780131492660

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Table of Contents