Better business PDF
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Practice, Engage, Apply • Problem-BasedLearningAssignments—Problem-Based Learning assignments encourage students to ask questions, think critically, solve problems and, if working in a group, engage with others. Problem-Based Learning assignments help students assume responsibility for their own learning, helping them to exercise leadership, and facilitate their ability to apply their knowledge. Students who actively participate in their own learning process are better able to link concept to application. • Branching,Decision-MakingSimulations—Put your students in the role of manager as they make a series of decisions based on a realistic business challenge. The simulations change and branch based on their decisions, creating various scenario paths. At the end of each simulation, students receive a grade and a detailed report of the choices they made with the associated consequences included. • VideoExercises—Explore a variety of business topics related to the theory students are learning in class. Quizzes assess students’ comprehension of the concepts covered in each video. • eText—Keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. Combining resources, such as videos, that illuminate content, MyLab with eText provides students with a complete digital learning experience—all in one place. This page intentionally left blank Practice, Assess, Apply with ® MyLab Intro to Business • DynamicStudyModules—Helps students study effectively on their own by continuously assessing their activity and performance in real time. Here’s how it works: students complete a set of questions with a unique answer format that also asks them to indicate their confidence level. Questions repeat until the student can answer them all correctly and confidently. Once completed, Dynamic Study Modules explain the concept using materials from the text. These are available as graded assignments prior to class, and accessible on smartphones, tablets, and computers. • WritingSpace—Better writers make great learners who perform better in their courses. Designed to help you develop and assess concept mastery and critical thinking, the Writing Space offers a single place to create, track, and grade writing assignments, provide resources, and exchange meaningful, personalized feedback with students, quickly and easily. Thanks to assisted-graded, and create-your-own assignments, you decide your level of involvement in evaluating students’ work. And because of integration with Turnitin®, Writing Space can check students’ work for improper citation or plagiarism. • LearningCatalytics™—Is an interactive, student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Now included with MyLab with eText, Learning Catalytics enables you to generate classroom discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. • ReportingDashboard—View, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course with the new Reporting Dashboard. Available via the MyLab Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner. • LMSintegration—You can now link from Blackboard Learn, Brightspace by D2L, Canvas, or Moodle to MyLab Intro to Business. Access assignments, rosters, and resources, and synchronize grades with your LMS gradebook. For students, single sign-on provides access to all the personalized learning resources that make studying more efficient and effective. ALWAYS LEARNING This page intentionally left blank FiFth Edition global Edition Michael R. SoloMon Contributing Editor MaRy anne PoatSy Montgomery County Community College Kendall MaRtin Montgomery County Community College Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong Tokyo • Seoul • Taipei • New Delhi • Cape Town • Sao Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan Vice President, Business Publishing: Donna Battista Vice President, Production and Digital Studio, Arts and Director of Portfolio Management: Stephanie Wall Business: Etain O’Dea Portfolio Manager: Nicole Sam Director of Production, Business: Jeff Holcomb Vice President, Product Marketing: Roxanne McCarley Managing Producer, Business: Ashley Santora Director of Strategic Marketing: Brad Parkins Content Producer, Global Edition: Pooja Aggarwal Strategic Marketing Manager: Deborah Strickland Operations Specialist: Carol Melville Product Marketer: Becky Brown Creative Director: Blair Brown Executive Field Marketing Manager: Adam Goldstein Manager, Learning Tools: Brian Surette Field Marketing Manager: Lenny Ann Kucenski Managing Producer, Arts and Business: Diane Lombardo Editorial Assistant: Courtney Paganelli Digital Studio Project Manager: Darren Cormier Acquisitions Editor, Global Edition: Tahnee Wager Digital Studio Project Manager: Alana Coles Managing Editor, Global Edition: Steven Jackson Full-Service Project Management and Composition: Manager, Media Production, Global Edition: Integra Software Services, Inc./Sue Nodine M. Vikram Kumar Interior Designer: Integra Software Services, Inc./ Senior Manufacturing Controller, Production, Global Emily Friel Edition: Trudy Kimber Cover Art: Kraphix/Shutterstock Product Marketing Assistant: Jessica Quazza Printer/Binder: Vivar, Malaysia Microsoft and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published as part of the services for any purpose. All such documents and related graphics are provided “as is” without warranty of any kind. Microsoft and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all warranties and conditions of merchantability, whether express, implied or statutory, fitness for a particular purpose, title and non-infringement. In no event shall Microsoft and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from the services. The documents and related graphics contained herein could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Microsoft and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time. Partial screen shots may be viewed in full within the software version specified. Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. This book is not sponsored or endorsed by or affiliated with the Microsoft Corporation. Pearson Education Limited KAO Two KAO Park Harlow CM17 9NA United Kingdom and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsonglobaleditions.com © Pearson Education Limited 2018 The rights of Michael R. Solomon, Mary Anne Poatsy and Kendall Martin to be identified as the authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. Authorized adaptation from the United States edition, entitled Better Business, 5th edition, ISBN 978-0-13-452274-6, by Michael R. Solomon, Mary Anne Poatsy and Kendall Martin, published by Pearson Education © 2018. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a license permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby Street, London EC1N 8TS. All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners. ISBN 10: 1-292-21819-3 ISBN 13: 978-1-292-21819-9 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library. 10 9 8 7 6 5 4 3 2 1 14 13 12 11 10 Typeset in Palatino LT Pro-Roman by Integra Software Services. Printed and bound by Vivar in Malaysia. Dedication To Rose —Michael R. Solomon For my husband, Ted, who unselfishly continues to take on more than his fair share to support me throughout this process; and for my children, Laura, Carolyn, and Teddy, whose encouragement and love have been inspiring. —Mary Anne Poatsy For all the teachers, mentors, and gurus who have popped in and out of my life. —Kendall Martin This page intentionally left blank Brief Contents About the Authors 15 ChAPTeR 9 Acknowledgments 16 Human Resource Management 284 Reviewers 17 New to the Fifth Edition 20 ChAPTeR 10 Letter from the Authors 21 Online Business and Technology 314 Prologue 22 ChAPTeR 11 Production, Operations, and Supply Chain PART 1 Looking at the Business Management 340 environment 34 Mini ChAPTeR 3 ChAPTeR 1 Business Communications 370 Business Basics 34 ChAPTeR 2 PART 4 prinCipLes of marketing 380 Economics and Banking 58 ChAPTeR 12 ChAPTeR 3 Marketing and Consumer Behavior 380 Ethics in Business 90 ChAPTeR 13 ChAPTeR 4 Product Development, Branding, and Pricing Business in a Global Economy 120 Strategies 412 Mini ChAPTeR 1 ChAPTeR 14 Business Law 152 Promotion and Distribution 442 Mini ChAPTeR 4 PART 2 starting and struCturing a Finding a Job 474 Business 162 PART 5 prinCipLes of finanCe 488 ChAPTeR 5 Small Business and the Entrepreneur 162 ChAPTeR 15 ChAPTeR 6 Financing and Accounting for Business Forms of Business Ownership 194 Operations 488 Mini ChAPTeR 2 ChAPTeR 16 Constructing an Effective Business Plan 224 Investment Opportunities in the Securities Market 528 PART 3 managing a Business and Mini ChAPTeR 5 empLoyees 232 Personal Finance 560 ChAPTeR 7 Business Management and Organization 232 Appendix 572 Glossary 581 ChAPTeR 8 Index 595 Motivation, Leadership, and Teamwork 258 Answer Key 624 7
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