gold standard xvi prologue: getting ready for this course and your career p
part 1
business trends: cultivating a business in diverse, global environments 1 taking risks and making profits within the dynamic business environment 1
part 2
business ownership: starting a small business 2 how to form a business 25 3 entrepreneurship and starting a small business 55
part 3
business management: empowering employees to satisfy customers 4 management and leadership 83 5 structuring organizations for today’s challenges 106 6 production and operations management 131
part 4
management of human resources: motivating employees to produce quality goods and services 7 motivating employees 155 8 human resource management: fin and keeping the best employees 182
part 5 marketing: developing and implementing customer-oriented marketing ns 9 marketing: helping buyers buy 214 10 developing and pricing goods and services 239 11 distributing products 265 12 using effective promotions 293
part 6
managing finan resources 13 understan accounting and finan information 317 14 finan management 345 15 using securities markets for financing and investing opportunities 371 16 money, finan institutions, and the federal reserve 402 epilogue 427 vi
gold standard xvi prologue
getting ready for this course and your career p learning the skills you need to succeed today and tomorrow p-1 using this course to prepare for your career p-2 assessing your skills and personality p-3 using professional business strategies right now p-3 learning to behave like a professional p-4 doing your best in college p-6 study hints p-6 test-taking hints p-8 time management hints p-9
making the most of the resources for this course p-9 getting the most from this text p-11
part 1 business trends: cultivating a business in diverse, global environments 1 chapter 1
taking risks and making profits within the dynamic business environment 1 getting to know ann-marie campbell of home depot 3 business and wealth buil 4 revenues, profits, and losses 4 matching risk with profit 4 standard of living and quality of life 5 respon to the various business stakeholders 5 using business principles in nonprofit organizations 6
the importance of entrepreneurs to the creation of wealth 7 the five factors of production 7 the business environment 9 the economic and legal environment 9 the technological environment 10
adapting to change up, up, and away 12 the petitive environment 13 the so environment 13 the global environment 14
reaching beyond our borders hollywood climbs the great wall 16 the evolution of u.s. business 16 progress in the agricultural and manufacturing industries 16 progress in service industries 17 your future in business 17 adapting to change services expand the circular economy 19 summary 19 career exploration 21 critical thinking 21 developing career skills 22 putting principles to work 22 video case: grubhub and the dynamic business environment 23 notes 24
part 2 business ownership: starting a small business 25 chapter 2
how to form a business 25 getting to know peter cancro, founder of jersey mike’s subs 27 basic forms of business ownership 28 sole proprietorshi 28 advantages of sole proprietorshi 28 disadvantages of sole proprietorshi 29 partnershi 30 advantages of partnershi 31 disadvantages of partnershi 32 corporations 32 vii
making ethical decisions good business, bad karma? 33 advantages of corporations 34 disadvantages of corporations 35 individuals can incorporate 36
adapting to change kickstarting a benefit corporation 37 s corporations 37 limited liability panies 38
corporate expansion: mergers and acquisitions 41 franchises 42 advantages of franchises 43 disadvantages of franchises 44 spotlight on small business unlocking a growing franchise 45 diversity in franchising 45 home-based franchises 46 e-merce in franchising 46 using technology in franchising 47 franchising in global markets 47
cooperatives 48 which form of ownership is for you? 48 summary 49 career exploration 51 critical thinking 51 developing career skills 51 putting principles to work 52 video case: domino’s still rolling in the dough 52 notes 53
chapter 3
entrepreneurship and starting a smallbusiness 55 getting to know tristan walker, founder of walker and pany 57 the job-creating power of entrepreneurs in the united states 58 why people take the entrepreneurial challenge 58 spotlight on small business student start-u 59 what does it take to be an entrepreneur? 59 turning your passions and problems into opportunities 60 entrepreneurial teams 61 entrepreneurship within firms 61
micropreneurs and home-based businesses 61 online businesses 62 encouraging entrepreneurship: what government can do 64
getting started in small business 65 small versus big business 66 importance of small businesses 66 small-business success and failure 66 learning about small-business operations 68 learn from others 68 get some experience 68 take over a successful firm 68 making ethical decisions should you stay or should you go? 69 managing a small business 69 nning your business 70 financing your small business 70 knowing your customers 74 managing your employees 74 keeping records 75 looking for help 75 going global: small-business prospects 76 summary 77 career exploration 79 critical thinking 79 developing career skills 80 putting principles to work 80 video case: launching a business: jcf health and fitness 80 notes 81
part 3 business management: empowering employees to satisfy customers 83 chapter 4
management and leadership 83 getting to know kevin nk, founder of under armour 85 managers’ roles are evolving 86 the four functions of management 86 nning and decision making 88 adapting to change will strategy robots rece managers? 91 decision making: fin the best alternative 92 organizing: creating a unified system 93 tasks and skills at different levels of management 93
connecting through so media want to be a so media manager? 95 staffing: getting and keeping the right people 95 lea: provi continuous vision and values 96 making ethical decisions what do you tell the team? 97 leadership styles 97 empowering workers 98 managing knowledge 99
controlling: making sure it works 99 a key criterion for measurement: customer satisfaction 100 summary 101
career exploration 103 critical thinking 103 developing career skills 104 putting principles to work 104 video case: zap’s team approach 104 notes 105 chapter 5
structuring organizations for today’s challenges 106 getting to know denise morrison, ceo of campbell soup pany 107 organizing for success 108 buil an organization from the bottom up 108 making ethical decisions would you sacrifice safety for profits? 109 the changing organization 109 the development of organizational design 109 turning principles into organizational design 111 decisions to make in structuring organizations 112 choosing centralized or decentralized authority 113 choosing the appropriate span of control 113 choosing between tall and flat organizational structures 113 weighing the advantages and disadvantages of departmentalization 114 organizational models 117 line organizations 117 line-and-staff organizations 117 matrix-style organizations 118 adapting to change going bossless 120 cross-functional self-managed teams 120 going beyond organizational boundaries 120 managing the interactions among firms 121 transparency and virtual organizations 121 adapting to change 122 restructuring for empowerment 123 connecting through so media breaking the connection 124 creating a change-oriented organizational culture 124 managing the informal organization 125 summary 126 career exploration 127 critical thinking 127 developing career skills 128 putting principles to work 128 video case: freshii’s winning organization 129 notes 130 chapter 6
production and operationsmanagement 131 getting to know shahid khan, ceo of flex-n-gate 133 manufacturing and services in perspective 134 manufacturers and service organizations bee more petitive 134 reaching beyond our borders creating skilled workers with german-style apprenticeshi 135 from production to operations management 135 operations management in the service sector 136 production processes 137 the need to improve production techniques and cut costs 138 puter-aided design and manufacturing 138 fleble manufacturing 138 lean manufacturing 139 mass customization 139 robotics 139 3d printing 140 using sensing, measurement, and process control 140 operations management nning 140 facility location 140
adapting to change the vast sibilities of 3d printing 141 facility location for manufacturers 141
making ethical decisions should we stay or should we go? 142 interfirm operations management 142 facility location in the future 143 facility layout 143 materials requirement nning 143 purchasing 145 just-in-time inventory control 145 quality control 145 the baldrige awards 146 iso 9001 and iso 14001 standards 146
control procedures: pert and gantt charts 147 preparing for the future 148 summary 149 career exploration 151 critical thinking 152 developing career skills 152 putting principles to work 152 video ca
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