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Foundations of Business

By William M. Pride, Robert J. Hughes, Jack R. Kapoor

7th Edition © 2023
Discipline:General Business
Course:Introduction to Business
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Show students how to build a foundation for success both in today's competitive business world and in their personal careers and lives with Pride/Hughes/Kapoor's FOUNDATIONS OF BUSINESS, 7E. This concise, captivating and easy-to-understand approach clearly demonstrates how the nation's economy affects both individuals and businesses, influences ethics and social responsibility and impacts today's global environment. Updates illustrate the challenges that individuals and businesses face from the COVID-19 pandemic. Students examine the latest information about business ownership, management, human resources, marketing, social media, e-commerce, management information systems, accounting and finance. New learning features and "Inside Business" cases and numerous new examples showcase concepts at work in real business situations. MindTap's online personalized learning experience and Infuse digital resources further reinforce learning with decision-driven activities and exercises.

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About this product

Show students how to build a foundation for success both in today's competitive business world and in their personal careers and lives with Pride/Hughes/Kapoor's FOUNDATIONS OF BUSINESS, 7E. This concise, captivating and easy-to-understand approach clearly demonstrates how the nation's economy affects both individuals and businesses, influences ethics and social responsibility and impacts today's global environment. Updates illustrate the challenges that individuals and businesses face from the COVID-19 pandemic. Students examine the latest information about business ownership, management, human resources, marketing, social media, e-commerce, management information systems, accounting and finance. New learning features and "Inside Business" cases and numerous new examples showcase concepts at work in real business situations. MindTap's online personalized learning experience and Infuse digital resources further reinforce learning with decision-driven activities and exercises.

BOOK HIGHLIGHTS THE THEME OF SUCCESS WITH AN EMPHASIS ON BEST PRACTICES. The authors prepare students for career success as they offer insights into today's best practices to help students attain individual business and career goals. All-new Exploring Careers, Ethics and Social Responsibility, Sustaining the Planet, Entrepreneurial Success, and Technology and Innovation features emphasize success while connecting to important concepts presented in each chapter.

NEW "INSIDE BUSINESS" AND "WHY SHOULD YOU CARE" FEATURES EMPHASIZE THE RELEVANCE OF TODAY'S BUSINESS ISSUES IN STUDENTS' LIVES. Both features highlight timely business challenges at the beginning of each chapter and draw students into the relevant and interesting material that follows.

COMPREHENSIVE INSTRUCTOR'S SUPPORT INCLUDES REVISED TEACHING TOOLS AND A PROVEN TEST BANK. The instructor companion site includes the Instructor's Resource Manual (IRM), information about MindTap digital activities, Infuse digital resources, test bank, and two PowerPoint® slide decks for student engagement and lectures. The IRM features easy-to-navigate layouts and classroom activities for each chapter. Written and reviewed by the text's authors, the test bank contains more than 3,000 items tagged by learning objectives, topic, difficulty, business program (AACSB) outcomes and Bloom's taxonomy level.

ENGAGING CASES HELP STUDENTS APPLY THE CHAPTER'S CONCEPTS. A new, interesting end-of-chapter case for every chapter illustrates how a successful, real-world company uses the principles featured in the chapter in real business world situations. Accompanying questions encourage students to closely examine how the information in the chapter applies to the situation described in the case.

Table of contents

Chapters

Cover Page
Title Page
Copyright Page
Letter from the Authors
Dedication
Acknowledgments
About the Authors
Part 1. The Environment of Business
Part 2. Business Ownership and Entrepreneurship
Part 3. Management and Organization
Part 4. Human Resources
Part 5. Marketing
Part 6. Information, Accounting, and Finance
Online-Only Chapter 17. Understanding Personal Finances and Investments
Online-Only Chapter 18. Enhancing Union-Management Relations
Appendix A. Careers in Business
Appendix B. Risk Management and Insurance
Appendix C. Business Law, Regulation, and Taxation
Show more

Part 1. The Environment of Business

Chapter 1. Exploring the World of Business and Economics
Preview this section ↗
Chapter Introduction ↗
1-1. Your Future in the Changing World of Business ↗
1-1a. Why Study Business? ↗
1-1b. Special Note to Business Students ↗
1-2. Business: A Definition ↗
1-2a. The Organized Effort of Individuals ↗
1-2b. Satisfying Needs ↗
1-2c. Business Profit ↗
1-3. Types of Economic Systems ↗
1-3a. Capitalism ↗
1-3b. Capitalism in the United States ↗
1-3c. Command Economies ↗
1-4. Measuring Economic Performance ↗
1-4a. The Importance of Productivity in the Global Marketplace ↗
1-4b. The Nation’s Gross Domestic Product ↗
1-4c. Other Important Economic Indicators That Measure a Nation’s Economy ↗
1-5. The Business Cycle ↗
1-6. Types of Competition ↗
1-6a. Perfect Competition ↗
1-6b. Monopolistic Competition ↗
1-6c. Oligopoly ↗
1-6d. Monopoly ↗
1-7. American Business Today ↗
1-7a. Early Business Development ↗
1-7b. Business Development in the 1900s ↗
1-7c. A New Century: 2000 and Beyond ↗
1-7d. The Current Business Environment ↗
1-7e. The Challenges Ahead ↗
Summary ↗
Key Terms ↗
Discussion Questions ↗
Case 1 ↗
Building Skills for Career Success ↗
Chapter 2. Ethics and Social Responsibility in Business
2-1. Business Ethics Defined
2-2. Ethical Issues In Business
2-2a. Fairness and Honesty
2-2b. Organizational Relationships
2-2c. Conflicts of Interest
2-2d. Communications
2-3. Factors Affecting Ethical Behavior
2-3a. Individual Factors Affecting Ethics
2-3b. Social Factors Affecting Ethics
2-3c. Opportunity as a Factor Affecting Ethics
2-4. Encouraging Ethical Behavior
2-4a. Government’s Role in Encouraging Ethics
2-4b. Trade Associations’ Role in Encouraging Ethics
2-4c. Individual Companies’ Role in Encouraging Ethics
2-5. Social Responsibility
2-5a. The Evolution of Social Responsibility in Business
2-5b. Two Views of Social Responsibility
2-5c. The Pros and Cons of Social Responsibility
2-6. Public Responsibilities of Business
2-6a. Consumerism
2-6b. Public Health
2-7. Responsibilities to Employees
2-7a. Affirmative Action Programs
2-7b. Training Programs for the Hard-Core Unemployed
2-7c. Programs to Reduce Sexual Harassment and Abusive Behavior
2-8. Responsibilities to the Environment
2-8a. Environmental Issues
2-8b. Effects of Environmental Legislation
2-8c. Business Response to Environmental Concerns
2-9. Implementing a Program of Social Responsibility
2-9a. Commitment of Top Executives
2-9b. Planning
2-9c. Appointment of a Director
2-9d. The Social Audit
Summary
Key Terms
Discussion Questions
Case 2
Building Skills for Career Success
Chapter 3. Global Business
3-1. The Basis for International Business
3-1a. Absolute and Comparative Advantage
3-1b. Exporting and Importing
3-1c. Balance of Trade
3-1d. The Economic Outlook for Trade
3-2. Methods of Entering International Business
3-2a. Exporting
3-2b. Licensing and Franchising
3-2c. Contract Manufacturing
3-2d. Joint Ventures and Alliances
3-2e. Direct Investment
3-2f. Multinational Firms
3-3. International Business Challenges
3-3a. Trade Restrictions
3-3b. Economic Challenges
3-3c. Legal and Political Climate
3-3d. Social and Cultural Barriers
3-4. Facilitators of International Trade
3-4a. The General Agreement on Tariffs and Trade and the World Trade Organization
3-4b. International Trade Agreements and Alliances
3-5. Sources of Export Assistance
3-6. Financing International Business
3-6a. The Export-Import Bank of the United States
3-6b. The World Bank
3-6c. The International Monetary Fund
Summary
Key Terms
Discussion Questions
Case 3
Building Skills for Career Success
Part 1. Running a Business
Part 1. Building a Business Plan

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