Synopses & Reviews
Foundations of Business, 3E gives students the comprehensive preparation they'll need to SUCCEED in today's competitive business world. By providing a brief survey of the major functional areas of business, including management, marketing, accounting, finance, economics, and information technology, this text introduces the reader to core business practices. In addition, the authors address other important concepts such as ethics and social responsibility, forms of ownership, small business and entrepreneurship, and international business. This edition is filled with cutting-edge content, including up-to-date information on the economic crisis, social networking, competition in the global marketplace, and the green movement, as well as suggestions on how to manage a business in the midst of economic ups and downs. An abundance of study aids is also available within the text and on the student companion website to help you achieve SUCCESS in the course and today's competitive business world.
"Although the Introduction to Business course is considered an "overview" course--there must be a balance between the macro and micro perspective. Too much exclusion of detail compromises the students' understanding of the big picture. This text provides an excellent balance."
"The material does a very good job of covering the current state of business and provides a solid foundation...."
"The material was presented in a simple manner even though some of it can be considered complex. ... A well done chapter on a difficult-to-present topic in an introduction to business course. I am rather 'blown away' by this chapter as you don't see your competitors doing such a great job with this as you have done."
"I think this chapter presents the subject in a clear and concise manner. Accounting is a difficult topic for the students to grasp. Many begin college as accounting majors and change majors into other business programs. I think the authors do a fine job and make the concepts understandable."
"I really like this book. It is user friendly for all ages, at all stages of one's life."
Foundations of Business, 2e provides a brief survey of the major functional areas of business including management, marketing, accounting, finance, and information technology, as well as core topics such as ethics and social responsibility, forms of ownership, small business, and international business. The text is filled with cutting edge content, including up-to-date information about the economic crisis as well as suggestions on how to manage personal financial planning in the midst of economic ups and downs. This second edition also includes two new appendices on Careers in Business and Personal Finance. An abundance of study aids is also available within the text and on the student companion website.
About the Author
William M. Pride is professor of marketing, Mays Business School at Texas A&M University. He received his PhD from Louisiana State University. He is the author of Cengage Learning's Marketing, 15th edition, and a market leader. Dr. Pride's research interests are in advertising, promotion, and distribution channels. Dr. Pride's research articles have appeared in major journals in the fields of advertising and marketing, such as Journal of Marketing, Journal of Marketing Research, Journal of the Academy of Marketing Science, and the Journal of Advertising. Dr. Pride is a member of the American Marketing Association, Academy of Marketing Science, Association of Collegiate Marketing Educators, Society for Marketing Advances, and the Marketing Management Association. Dr. Pride has taught principles of marketing and other marketing courses for more than 30 years at both the undergraduate and graduate levels. Robert J. Hughes (PhD, University of North Texas) specializes in business administration and college instruction. He has taught Introduction to Business for more than 35 years both on campus and online for Richland College--one of seven campuses that are part of the Dallas County Community College District. In addition to Business and Foundations of Business, published by Cengage Learning, he has authored college textbooks in personal finance and business mathematics; served as a content consultant for two popular national television series, It's Strictly Business and Dollars and Sense: Personal Finance for the 21st Century; and is the lead author for a business math project utilizing computer-assisted instruction funded by the ALEKS Corporation. He is also active in many academic and professional organizations and has served as a consultant and investment advisor to individuals, businesses, and charitable organizations. Dr. Hughes is the recipient of three different Teaching in Excellence Awards at Richland College. According to Dr. Hughes, after 35 years of teaching Introduction to Business, the course is still exciting: "There's nothing quite like the thrill of seeing students succeed, especially in a course like Introduction to Business, which provides the foundation for not only academic courses, but also life in the real world." Jack R. Kapoor (EdD, Northern Illinois University) is professor of business and economics in the Business and Technology Division at the College of DuPage, where he has taught Introduction to Business, Marketing, Management, Economics, and Personal Finance since 1969. He previously taught at Illinois Institute of Technology's Stuart School of Management, San Francisco State University's School of World Business, and other colleges. Professor Kapoor was awarded the Business and Services Division's Outstanding Professor Award for 1999-2000. He served as an Assistant National Bank Examiner for the U.S. Treasury Department and as an international trade consultant to Bolting Manufacturing Co., Ltd., Mumbai, India. Dr. Kapoor is known internationally as a coauthor of several textbooks, including Foundations of Business, 2nd edition (Cengage Learning), has served as a content consultant for the popular national television series The Business File: An Introduction to Business, and developed two full-length audio courses in business and personal finance. He has been quoted in many national newspapers and magazines, including USA Today, U.S. News and World Report, the Chicago Sun-Times, Crain's Small Business, the Chicago Tribune, and other publications. Dr. Kapoor has traveled around the world and has studied business practices in capitalist, socialist, and communist countries.
Table of Contents
Note: Each chapter opens with Inside Business, Learning Objectives, and Why This Chapter Matters. I. THE ENVIRONMENT OF BUSINESS. 1. Exploring the World of Business and Economics. Your Future in the Changing World of Business. Business: A Definition. Types of Economic Systems. Measuring Economic Performance. The Business Cycle. Types of Competition. American Business Today. 2. Being Ethical and Socially Responsible. Business Ethics Defined. Ethical Issues. Factors Affecting Ethical Behavior. Encouraging Ethical Behavior. The Evolution of Social Responsibility in Business. Two Views of Social Responsibility. Consumerism. Employment Practices. Concern for the Environment. Implementing a Program of Social Responsibility. 3. Exploring Global Business. The Basis for International Business. Restrictions to International Business. The Extent of International Business. Methods of Entering International Business. Sources of Export Assistance. II. TRENDS IN BUSINESS TODAY. 4. Choosing a Form of Business Ownership. Sole Proprietorships. Partnerships. Advantages and Disadvantages of Partnerships. Corporations. Advantages and Disadvantages of Corporations. Special Types of Business Ownership. Cooperatives, Joint Ventures, and Syndicates. Corporate Growth. 5. Small Business, Entrepreneurship, and Franchise. Small Business: A Profile. The People in Small Businesses: The Entrepreneurs. The Importance of Small Businesses in Our Economy. The Pros and Cons of Smallness The Small Business Administration. Franchising. The Growth of Franchising. III. MANAGEMENT AND ORGANIZATION. 6. Understanding the Management Process. What Is Management? Basic Management Functions. Kinds of Managers. What Makes Effective Managers? Leadership. Managerial Decision Making. Managing Total Quality. What It Takes to Become a Successful Manager Today. 7. Creating a Flexible Organization. What Is an Organization? Job Design. Departmentalization. Delegation, Decentralization, and Centralization. The Span of Management. Chain of Command: Line and Staff Management. Forms of Organizational Structure. Additional Factors That Influence an Organization. 8. Producing Quality Goods and Services. What Is Production? The Conversion Process. Where Do New Products and Services Come From? How Do Managers Plan for Production? Operations Control. Management of Productivity and Technology. IV. HUMAN RESOURCES. 9. Attracting and Retaining the Best Employees. Human Resources Management: An Overview. Human Resources Planning. Cultural Diversity in Human Resources. Job Analysis. Recruiting, Selection, and Orientation. Compensation and Benefits. Training and Development. The Legal Environment of HRM. 10. Motivating and Satisfying Employees and Teams. What Is Motivation? Historical Perspectives on Motivation. Contemporary Views on Motivation. Key Motivation Techniques. Teams and Teamwork. V. MARKETING. 11. Building Customer Relationships Through Effective Marketing. Marketing and the Management of Customer Relationships. Utility: the Value Added by Marketing. The Marketing Concept. Markets and Their Classification. Developing a Marketing Strategy. Marketing Strategy and the Marketing Environment. Developing a Marketing Plan. Market Measurement and Sales Forecasting. Marketing Information. Types of Buying Behavior. 12. Creating and Pricing Products that Satisfy Customers. Classification of Products. The Product Life Cycle. Product Line and Product Mix. Managing the Product Mix. Branding. Packaging and Labeling. Pricing Products. Pricing Objectives. Pricing Methods. Pricing Strategies. Pricing Business Products. 13. Distributing and Promoting Products. Distribution Channels and market Coverage. Partnering Through Supply-Chain Management. Marketing Intermediaries: Wholesalers. Marketing Intermediaries: Retailers. Physical Distribution. What is Integrated Marketing Communications? The Promotion Mix: An Overview. Advertising. Personal Selling. Sales Promotion. Public Relations. VI. MANAGEMENT INFORMATION SYSTEMS, E-BUSINESS ACCOUNTING, AND FINANCE. 14. Understanding Information and e-Business. How Can Information Reduce Risk When Making a Decision? What Is a Management Information System?. Improving Productivity with the Help of Computers and Technology. Using Computers and the Internet to Obtain Information. Defining e-Business. Fundamental Models of e-Business. The Future of e-Business: Growth, Opportunities, and Challenges. 15. Using Accounting Information. Why Accounting Information Is Important. Who Uses Accounting Information. The Accounting Process. The Balance Sheet. The Income Statement. The Statement of Cash Flows. Evaluating Financial Statements. 16. Mastering Financial Management. What Is Financial Management? Planning--The Basis of Sound Financial Management. Financial Services Provided by Banks and Other Financial Institutions. Sources of Short-Term Debt Financing. Sources of Equity Financing. Sources of Long-Term Debt Financing. Appendix A: Understanding Personal Finances and Investments. Preparing for an Investment Program. How Securities Are Bought and Sold. Traditional Investment Alternatives. Sources of Financial Information. Appendix B: Careers in Business. The Importance of Career Choices. Occupational Search Activities. Planning and Preparation. A Final Note About Careers. Notes. Credits. Answers to Test Preppers. Index.