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Gain the understanding of business to become a better employee, more informed consumer and even a successful business owner with Pride/Hughes/Kapoor's FOUNDATIONS OF BUSINESS, 6E. Every feature has been evaluated by experienced instructors and business students, like you. New applications and activities guide you in applying important concepts. This up-to-date edition highlights business ownership, management and organization, human resources, marketing, e-business, information systems, accounting and finance. You study ethics and social responsibility, small business and entrepreneurship and global issues. Cutting-edge content also emphasizes social media, international business, green and socially responsible business and sustainability. MindTap online resources help you further master important concepts and succeed in today's competitive business world and in your personal life. Cover 1 Letter from the Authors 5 Brief Contents 7 Contents 8 Acknowledgments 16 About the Authors 17 Part 1: The Environment of Business 19 Chapter 1: Exploring the World of Business and Economics 20 1-1 Your Future in the Changing World of Business 22 1-2 Business: A Definition 27 1-3 Types of Economic Systems 31 1-4 Measuring Economic Performance 35 1-5 The Business Cycle 38 1-6 Types of Competition 40 1-7 American Business Today 44 Summary 48 Key Terms 50 Discussion Questions 50 Building Skills for Career Success 51 Chapter 2: Ethics and Social Responsibility in Business 53 2-1 Business Ethics Defined 55 2-2 Ethical Issues 55 2-3 Factors Affecting Ethical Behavior 58 2-4 Encouraging Ethical Behavior 59 2-5 The Evolution of Social Responsibility in Business 64 2-6 Public Responsibilities of Business 67 2-7 Employment Practices 71 2-8 Environmental Concerns 74 2-9 Implementing a Program of Social Responsibility 78 Summary 79 Key Terms 80 Discussion Questions 81 Building Skills for Career Success 82 Chapter 3: Global Business 83 3-1 The Basis for International Business 85 3-2 Methods of Entering International Business 88 3-3 Restrictions to International Business 93 3-4 The Extent of International Business 97 3-5 International Trade Agreements 100 3-6 Sources of Export Assistance 104 3-7 Financing International Business 105 Summary 108 Key Terms 109 Discussion Questions 109 Building Skills for Career Success 110 Part 2: Business Ownership and Entrepreneurship 117 Chapter 4: Choosing a Form of Business Ownership 118 4-1 Sole Proprietorships 120 4-2 Partnerships 124 4-3 Advantages and Disadvantages of Partnerships 126 4-4 Corporations 128 4-5 Advantages and Disadvantages of Corporations 133 4-6 Special Types of Business Ownership 136 4-7 Joint Ventures and Syndicates 139 4-8 Corporate Growth 140 Summary 143 Key Terms 144 Discussion Questions 145 Building Skills for Career Success 146 Chapter 5: Small Business, Entrepreneurship, and Franchises 147 5-1 Small Business: A Profile 148 5-2 The People in Small Businesses: The Entrepreneurs 151 5-3 The Importance of Small Businesses in Our Economy 155 5-4 The Pros and Cons of Smallness 158 5-5 The Small Business Administration: Resources for Entrepreneurs 162 5-6 Franchising 166 5-7 The Growth of Franchising 167 Summary 173 Key Terms 173 Discussion Questions 174 Building Skills for Career Success 175 Part 3: Management and Organization 179 Chapter 6: Understanding the Management Process 180 6-1 What Is Management? 181 6-2 Basic Management Functions 182 6-3 Kinds of Managers 189 6-4 Key Skills of Successful Managers 192 6-5 Leadership 194 6-6 Managerial Decision Making 195 6-7 Managing Total Quality 198 Summary 199 Key Terms 200 Discussion Questions 200 Building Skills for Career Success 202 Chapter 7: Creating a Flexible Organization 203 7-1 What Is an Organization? 204 7-2 Job Design 206 7-3 Departmentalization 208 7-4 Delegation, Decentralization, and Centralization 210 7-5 The Span of Management 212 7-6 Forms of Organizational Structure 213 7-7 Corporate Culture 217 7-8 Committees and Task Forces 219 7-9 The Informal Organization and the Grapevine 220 Summary 221 Key Terms 222 Discussion Questions 223 Building Skills for Career Success 224 Chapter 8: Producing Quality Goods and Services 226 8-1 What Is Production? 228 8-2 The Conversion Process 231 8-3 The Increasing Importance of Services 232 8-4 Where Do New Products and Services Come From? 234 8-5 How Do Managers Plan Production? 237 8-6 Operations Control 242 8-7 Improving Productivity with Technology 248 Summary 253 Key Terms 254 Discussion Questions 254 Building Skills for Career Success 255 Part 4: Human Resources 259 Chapter 9: Attracting and Retaining the Best Employees 260 9-1 Human Resources Management: An Overview 261 9-2 Human Resources Planning 263 9-3 Cultural Diversity in Human Resources 265 9-4 Job Analysis 266 9-5 Recruiting, Selection, and Orientation 268 9-6 Compensation and Benefits 272 9-7 Training and Development 277 9-8 Performance Appraisal 278 9-9 The Legal Environment of HRM 281 Summary 284 Key Terms 285 Discussion Questions 285 Building Skills for Career Success 286 Chapter 10: Motivating and Satisfying Employees and Teams 288 10-1 What Is Motivation? 289 10-2 Historical Perspectives on Motivation 290 10-3 Contemporary Views on Motivation 298 10-4 Key Motivation Techniques 300 10-5 Teams and Teamwork 307 Summary 312 Key Terms 313 Discussion Questions 313 Building Skills for Career Success 314 Part 5: Marketing 319 Chapter 11: Building Customer Relationships through Effective Marketing 320 11-1 Managing Customer Relationships 322 11-2 Utility: The Value Added by Marketing 323 11-3 The Marketing Concept 325 11-4 Markets and Their Classification 327 11-5 Developing Marketing Strategies 327 11-6 Marketing Strategy and the Marketing Environment 333 11-7 Developing a Marketing Plan 333 11-8 Market Measurement and Sales Forecasting 334 11-9 Marketing Information 335 11-10 Types of Buying Behavior 339 Summary 341 Key Terms 343 Discussion Questions 343 Building Skills for Career Success 344 Chapter 12: Creating and Pricing Products That Satisfy Customers 345 12-1 Classification of Products 347 12-2 The Product Life-Cycle 349 12-3 Product Line and Product Mix 351 12-4 Managing the Product Mix 352 12-5 Branding, Packaging, and Labeling 357 12-6 Pricing Products 363 12-7 Pricing Objectives 366 12-8 Pricing Methods 366 12-9 Pricing Strategies 369 12-10 Pricing Business Products 373 Summary 374 Key Terms 376 Discussion Questions 376 Building Skills for Career Success 377 Chapter 13: Distributing and Promoting Products 379 13-1 Distribution Channels and Market Coverage 380 13-2 Partnering through Supply-Chain Management 383 13-3 Marketing Intermediaries: Wholesalers 384 13-4 Marketing Intermediaries: Retailers 386 13-5 Physical Distribution 393 13-6 What Is Integrated Marketing Communications? 396 13-7 The Promotion Mix: An Overview 396 13-8 Advertising 397 13-9 Personal Selling 402 13-10 Sales Promotion 404 13-11 Public Relations 406 Summary 408 Key Terms 410 Discussion Questions 411 Building Skills for Career Success 412 Part 6: Information, Accounting, and Finance 417 Chapter 14: Exploring Social Media and e-Business 418 14-1 Why Is Social Media Important? 420 14-2 Social Media Tools for Business Use 423 14-3 Achieving Business Objectives through Social Media 425 14-4 Developing a Social Media Plan 432 14-5 Defining E-Business 436 14-6 Fundamental Models of E-Business 439 14-7 The Future of the Internet, Social Media, and E-Business 441 Summary 446 Key Terms 447 Discussion Questions 447 Building Skills for Career Success 449 Chapter 15: Using Management and Accounting Information 450 15-1 How Can Information Reduce Risk When Making a Decision? 452 15-2 What Is a Management Information System? 455 15-3 How Do Employees Use a Management Information System? 458 15-4 Why Accounting Information Is Important 461 15-5 The Accounting Equation and the Balance Sheet 465 15-6 The Income Statement 470 15-7 The Statement of Cash Flows 473 15-8 Evaluating Financial Statements 475 Summary 477 Key Terms 479 Discussion Questions 479 Building Skills for Career Success 480 Chapter 16: Mastering Financial Management 482 16-1 Why Financial Management? 483 16-2 The Need for Financing 486 16-3 Planning-The Basis of Sound Financial Management 488 16-4 Financial Services Provided by Banks and other Financial Institutions 492 16-5 Sources of Short-Term Debt Financing 495 16-6 Sources of Equity Financing 499 16-7 Sources of Long-Term Debt Financing 503 Summary 508 Key Terms 509 Discussion Questions 509 Building Skills for Career Success 510 Endnotes 515 Glossary 525 Name Index 541 Subject Index 547 "This up-to-date edition highlights business ownership, management and organization, human resources, marketing, e-business, information systems, accounting and finance. You study ethics and social responsibility, small business and entrepreneurship and global issues. Cutting-edge content also emphasizes social media, international business, green and socially responsible business and sustainability. MindTap online resources help you further master important concepts and succeed in today's competitive business world and in your personal life." -- Provided by publisher