Machine generated contents note: pt. 1 The Environment of Business -- ch. 1 Exploring the World of Business and Economics -- Inside Business: How Starbucks Brews Up Global Profits -- Your Future in the Changing World of Business -- Career Success: Improve Your Productivity! -- Why Study Business? -- Personal Apps: Sometimes you have to reach for success! -- Special Note to Business Students -- Business: A Definition -- The Organized Effort of Individuals -- Satisfying Needs -- Business Profit -- Types of Economic Systems -- Entrepreneurial Success: Building a Million-Dollar App Business -- Capitalism -- Capitalism in the United States -- Command Economies -- Measuring Economic Performance -- The Importance of Productivity in the Global Marketplace -- The Nation's Gross Domestic Product -- Important Economic Indicators That Measure a Nation's Economy -- The Business Cycle -- Types of Competition -- Perfect Competition -- Personal Apps: Why do consumers choose one product instead of another? -- Monopolistic Competition -- Oligopoly -- Monopoly -- American Business Today -- Early Business Development -- Business Development in the 1900s -- A New Century: 2000 and Beyond -- The Current Business Environment -- The Challenges Ahead -- Summary -- Key Terms -- Discussion Questions -- Test Yourself -- Video Case: Klip Tech Turns Recycled Paper into Products and Profits -- Building Skills for Career Success -- Endnotes -- ch. 2 Being Ethical and Socially Responsible -- Inside Business: Chipotle Mexican Grill's "Food with Integrity" -- Business Ethics Defined -- Ethical Issues -- Fairness and Honesty -- Organizational Relationships -- Personal Apps: In some buying situations, the "right" thing to do isn't always clear, is it? -- Conflict of Interest -- Communications -- Factors Affecting Ethical Behavior -- Individual Factors Affecting Ethics -- Social Factors Affecting Ethics -- "Opportunity" as a Factor Affecting Ethics -- Encouraging Ethical Behavior -- Government's Role in Encouraging Ethics -- Trade Associations' Role in Encouraging Ethics -- Individual Companies' Role in Encouraging Ethics -- Social Responsibility -- The Evolution of Social Responsibility in Business -- Historical Evolution of Business Social Responsibility -- Two Views of Social Responsibility -- The Economic Model -- The Socioeconomic Model -- The Pros and Cons of Social Responsibility -- Consumerism -- The Six Basic Rights of Consumers -- Personal Apps: Do you always know what you're buying? -- Major Consumerism Forces -- Employment Practices -- Affirmative Action Programs -- Training Programs for the Hard-Core Unemployed -- Concern for the Environment -- Effects of Environmental Legislation -- Sustain the Planet: Social Responsibility at Xerox -- Entrepreneurial Success: Social Entrepreneurs of Tomorrow -- Who Should Pay for a Clean Environment? -- Implementing a Program of Social Responsibility -- Developing a Program of Social Responsibility -- Funding the Program -- Summary -- Key Terms -- Discussion Questions -- Test Yourself -- Video Case: PortionPac Chemical Is People-Friendly, Planet-Friendly -- Building Skills for Career Success -- Endnotes -- ch. 3 Exploring Global Business -- Inside Business: Coca-Cola -- The Basis for International Business -- Absolute and Comparative Advantage -- Exporting and Importing -- Restrictions to International Business -- Types of Trade Restrictions -- Reasons for Trade Restrictions -- Personal Apps: What's your reaction when you see "Made in America" or "Made in the USA" on a product? -- Reasons Against Trade Restrictions -- Career Success: The Global Economy Creates Jobs at Home, Too -- The Extent of International Business -- The World Economic Outlook for Trade -- International Trade Agreements -- The General Agreement on Tariffs and Trade and the World Trade Organization -- World Trade and the Global Economic Crisis -- International Economic Organizations Working to Foster Trade -- Methods of Entering International Business -- Licensing -- Exporting -- Joint Ventures -- Totally Owned Facilities -- Striving for Success: Services Team Up to Enter India -- Strategic Alliances -- Trading Companies -- Countertrade -- Multinational Firms -- Sources of Export Assistance -- Financing International Business -- The Export-Import Bank of the United States -- Personal Apps: Do you know what a euro is worth? -- Multilateral Development Banks -- The International Monetary Fund -- The Challenges Ahead -- Summary -- Key Terms -- Discussion Questions -- Test Yourself -- Video Case: Keeping Brazil's Economy Hot -- Building Skills for Career Success -- Running a Business: Part 1: Let's Go Get a Graeter's! -- Building a Business Plan: Part 1 -- Endnotes -- pt. 2 Business Ownership and Entrepreneurship -- ch. 4 Choosing a Form of Business Ownership -- Inside Business: Berkshire Hathaway Buys and Holds for Long-Term Growth -- Sole Proprietorships -- Advantages of Sole Proprietorships -- Disadvantages of Sole Proprietorships -- Personal Apps: Do you dream of being your own boss? -- Beyond the Sole Proprietorship -- Partnerships -- Types of Partners -- The Partnership Agreement -- Advantages and Disadvantages of Partnerships -- Advantages of Partnerships -- Disadvantages of Partnerships -- Beyond the Partnership -- Corporations -- Corporate Ownership -- Forming a Corporation -- Personal Apps: Are you a stockholder? -- Corporate Structure -- Ethical Success or Failure? Do We Need More Women in the Board Room? -- Advantages and Disadvantages of Corporations -- Advantages of Corporations -- Disadvantages of Corporations -- Social Media: Going Social with SCORE -- Special Types of Business Ownership -- S-Corporations -- Limited-Liability Companies -- Not-for-Profit Corporations -- Joint Ventures and Syndicates -- Joint Ventures -- Syndicates -- Corporate Growth -- Growth from Within -- Growth Through Mergers and Acquisitions -- Merger and Acquisition Trends for the Future -- Summary -- Key Terms -- Discussion Questions -- Test Yourself -- Video Case: AT & T and T-Mobile: What Went Wrong with Their Merger? -- Building Skills for Career Success -- Endnotes -- ch. 5 Small Business, Entrepreneurship, and Franchises -- Inside Business: Dunkin' Brands Helps Franchisees Brew up Sales -- Small Business: A Profile -- The Small-Business Sector -- Industries That Attract Small Businesses -- Personal Apps: Have you worked for a small business? -- The People in Small Businesses: The Entrepreneurs -- Characteristics of Entrepreneurs -- Other Personal Factors -- Motivation -- Women as Small-Business Owners -- Teenagers as Small-Business Owners -- Why Some Entrepreneurs and Small Businesses Fail -- Career Success: Is Entrepreneurship in Your Future? -- The Importance of Small Businesses in Our Economy -- Providing Technical Innovation -- Providing Employment -- Providing Competition -- Filling Needs of Society and Other Businesses -- The Pros and Cons of Smallness -- Advantages of Small Business -- Disadvantages of Small Business -- Entrepreneurial Success: Students by Day, Entrepreneurs by Night -- The Importance of a Business Plan -- Components of a Business Plan -- Personal Apps: A business plan is a great ideal -- The Small Business Administration -- SBA Management Assistance -- Help for Minority-Owned Small Businesses -- SBA Financial Assistance -- Franchising -- What Is Franchising? -- Types of Franchising -- The Growth of Franchising -- Are Franchises Successful? -- Advantages of Franchising -- Disadvantages of Franchising -- Global Perspectives in Small Business -- Summary -- Key Terms -- Discussion Ouestions -- Test Yourself -- Video Case: From Two Men and a Truck to -- Franchises and 1,400 Trucks -- Building Skills for Career Success -- Running a Business: Part 2: Graeter's: A Fourth-Generation Family Business -- Building a Business Plan: Part 2 -- Endnotes -- pt. 3 Management and Organization -- ch. 6 Understanding the Management Process -- Inside Business: Amazon's Customer First Philosophy -- What Is Management? -- Personal Apps: Are you already a manager? -- Basic Management Functions -- Planning -- Career Success: Your Personal SWOT Analysis -- Organizing the Enterprise -- Leading and Motivating -- Controlling Ongoing Activities -- Kinds of Managers -- Levels of Management -- Areas of Management Specialization -- Key Skills of Successful Managers -- Conceptual Skills -- Analytic Skills -- Interpersonal Skills -- Technical Skills -- Communication Skills -- Social Media: CEO Dilemma: To Blog or Not to Blog? -- Leadership -- Formal and Informal Leadership -- Personal Apps: Who do you admire? -- Styles of Leadership -- Which Leadership Style Is the Best? -- Managerial Decision Making -- Identifying the Problem or Opportunity -- Generating Alternatives -- Selecting an Alternative -- Implementing and Evaluating the Solution -- Managing Total Quality -- Summary -- Key Terms -- Discussion Ouestions -- Test Yourself -- Video Case: L.L. Bean Relies on Its Core Values and Effective Leadership -- Building Skills for Career Success -- Endnotes -- ch. 7 Creating a Flexible Organization -- Inside Business: Autonomy Fosters Innovation and Success at W.L. Gore -- What Is an Organization? -- Developing Organization Charts -- Major Considerations for Organizing a Business -- Job Design -- Job Specialization -- The Rationale for Specialization -- Alternatives to Job Specialization -- DePartmentalization -- By Function -- By Product -- By Location -- By Customer -- Combinations of Bases -- Delegation, Decentralization, and Centralization -- Delegation of Authority -- Entrepreneurial Success: Successful Leaders Are Successful Delegators -- Decentralization of Authority -- The Span of Management -- Wide and Narrow Spans of Management -- Organizational Height -- Forms of Organizational Structure -- The Line Structure -- Personal Apps: Do you have a mentor? -- The Line-and-Staff Structure -- The Matrix Structure -- The Network Structure.