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Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel Business a changing world 10th ferrel
O.C Ferrell Geoffrey Hirt Linda Ferrell A Changing World tenth edition LEARNSMART ADVANTAGE WORKS A B C D 30.5% 33.5% 22.6% 8.7% More C students 4.7% A B C D 19.3% 38.6% 28.0% 9.6% earn B’s *Study: 690 students / institutions 4.5% Without LearnSmart Over 20% more students pass the class with LearnSmart Pass Rate - 70% *A&P Research Study Without LearnSmart Pass Rate - 57% 100% – More than 60% – Extremely 80% – of all students agreed LearnSmart was a very or extremely helpful learning tool – Very 60% – 40% – – Moderately 20% – Jan - Dec 2011 Jan - Mar 2012 Jan–Dec 2011 Jan–Mar 2012 – – Slightly – Not at all *Based on 750,000 student survey responses http://bit.ly/LS4Apple > AVAILABLE ON-THE-GO http://bit.ly/LS4Droid How you rank against your peers? 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Check with your instructor about a custom option for your course > Buy directly from the source at http://shop.mheducation.com Business A Changing World Business A Changing World tenth edition O.C Ferrell University of New Mexico Geoffrey A Hirt DePaul University Linda Ferrell University of New Mexico BUSINESS: A CHANGING WORLD, TENTH EDITION Published by McGraw-Hill Education, Penn Plaza, New York, NY 10121 Copyright © 2016 by McGraw-Hill Education All rights reserved Printed in the United States of America Previous edition © 2014, 2011 and 2009 No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning Some ancillaries, including electronic and print components, may not be available to customers outside the United States This book is printed on acid-free paper QVS/QVS ISBN 978-1-259-17939-6 MHID 1-259-17939-7 Senior Vice President, Products & Markets: Kurt L Strand Vice President, General Manager, Products & Markets: Marty Lange Vice President, Content Design & Delivery: Kimberly Meriwether David Managing Director: Paul Ducham Brand Manager: Anke Weekes Director, Product Development: Rose Koos Director of Development: Ann Torbert Product Developer: Gabriela Gonzalez Marketing Manager: Michael Gedatus Director, Content Design & Delivery: Linda Avenarius Executive Program Manager: Faye Herrig Content Project Managers: Heather Ervolino; Lisa Bruflodt; Mark Christianson; Judi David Buyer: Debra R Sylvester Design: Debra Kubiak Content Licensing Specialists: DeAnna Dausener; Shawntel Schmitt Cover Image: (top image) Dougal Waters/Getty Images; (bottom image) Eva Serrabassa/Getty Images Compositor: MPS Limited Typeface: 10.5/12 Times LT Std Roman Printer: Quad/Graphics All credits appearing on page or at the end of the book are considered to be an extension of the copyright page Library of Congress Cataloging-in-Publication Data Ferrell, O C Business : a changing world/O.C Ferrell, University of New Mexico, Geoffrey A Hirt, DePaul University, Linda Ferrell, University of New Mexico.—Tenth edition pages cm ISBN 978-1-259-17939-6 (alk paper) Business Management—United States I Hirt, Geoffrey A II Ferrell, Linda III Title HF1008.F47 2016 650—dc23 2014035249 The Internet addresses listed in the text were accurate at the time of publication The inclusion of a website does not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education does not guarantee the accuracy of the information presented at these sites www.mhhe.com Dedication To James Ferrell To Linda Hirt To George Ferrell Authors O.C FERRELL O.C Ferrell is University Distinguished Professor of Marketing and Bill Daniels Professor of Business Ethics in the Anderson School of Management at the University of New Mexico He served as the Bill Daniels Distinguished Professor of Business Ethics at the University of Wyoming and the Chair of the Department of Marketing at Colorado State University He also has held faculty positions at the University of Memphis, University of Tampa, Texas A&M University, Illinois State University, and Southern Illinois University, as well as visiting positions at Queen’s University (Ontario, Canada), University of Michigan (Ann Arbor), University of Wisconsin (Madison), and University of Hannover (Germany) He has served as a faculty member for the Master’s Degree Program in Marketing at Thammasat University (Bangkok, Thailand) Dr. Ferrell received his B.A and M.B.A from Florida State University and his Ph.D from Louisiana State University His teaching and research interests include business ethics, global business, and marketing Dr Ferrell is widely recognized as a leading teacher and scholar in business He has published more than 100 articles in leading journals He has co-authored more than 20 books In addition to Business: A Changing World, he has two other textbooks, Marketing and Business Ethics: Ethical Decision Making and Cases, that are market leaders in their respective areas He also has co-authored other textbooks for marketing, management, business and society, and other business courses, as well as a trade book on business ethics He chaired the American Marketing Association (AMA) ethics committee that developed its current code of ethics He is past president of the Academic Council for the AMA Currently he is Vice President of Publications for viii the Academy of Marketing Science and is a Distinguished Fellow with AMS and is the AMS, CutcoVector Distinguished Marketing Educator Dr Ferrell’s major focus is teaching and developing teaching resources for students and faculty to better understand the increasing complex global business environment He has taught the introduction to business course using this textbook This gives him the opportunity to develop, improve, and test the book and ancillary materials on a firsthand basis He has traveled extensively to work with students and understands the needs of instructors of introductory business courses He lives in Albuquerque, New Mexico, and enjoys skiing, golf, and international travel GEOFFREY A HIRT Geoffrey A Hirt of DePaul University previously taught at Texas Christian University and Illinois State University where he was Chairman of the Department of Finance and Law At DePaul, he was Chairman of the Finance Department from 1987 to 1997 and held the title of Mesirow Financial Fellow He developed the MBA program in Hong Kong and served as Director of International Initiatives for the College of Business, supervising overseas programs in Hong Kong, Prague, and Bahrain and was awarded the Spirit of St Vincent DePaul award for his contributions to the university Dr Hirt directed the Chartered Financial Analysts (CFA) study program for the Investment Analysts Society of Chicago from 1987 to 2003 He has been a visiting professor at the University of Urbino in Italy, where he still maintains a relationship with the economics department He received his Ph.D in Finance from the University of Illinois at Champaign–Urbana, his M.B.A at Miami University of Ohio, and his B.A from Ohio Wesleyan University Dr Hirt is currently on the Dean’s Advisory Board and Executive Committee of DePaul’s School of Music and is on the Board of the James Tyree Foundation The Tyree Foundation funds innovative education programs in Chicago, and Dr. Hirt also serves on the Grant Committee Dr. Hirt is past president and a current member of the Midwest Finance Association, a former editor of the Journal of Financial Education, and also a member of the Financial Management Association He belongs to the Pacific Pension Institute, an organization of public pension funds, private equity firms, and international organizations such as the Asian Development Bank, the IMF, and the European Bank for Reconstruction and Development Dr Hirt is widely known for his textbook Foundations of Financial Management published by McGraw-Hill/Irwin This book in its fifteenth edition has been used in more than 31 countries and translated into more than 14 different languages Additionally, Dr Hirt is well known for his textbook, Fundamentals of Investment Management, also published by McGraw-Hill/Irwin and now in its tenth edition Dr Hirt enjoys golf, swimming, music, and traveling with his wife, who is a pianist and opera coach LINDA FERRELL Dr Linda Ferrell is Professor of Marketing and Bill Daniels Professor of Business Ethics in the Anderson School of Management at the University of New Mexico She completed her Ph.D in Business Administration, with a concentration in management, at the University of Memphis She has taught at the University of Tampa, Colorado State University, University of Northern Colorado, University of Memphis, and the University of Wyoming She also team teaches a class at Thammasat University in Bangkok, Thailand, as well as an online Business Ethics Certificate course through the University of New Mexico Her work experience as an account executive for McDonald’s and Pizza Hut’s advertising agencies supports her teaching of advertising, marketing management, marketing ethics, and marketing principles She has published in the Journal of Public Policy & Marketing, Journal of Business Research, Journal of the Academy of Marketing Science, Journal of Business Ethics, AMS Review, Journal of Academic Ethics, Journal of Marketing Education, Marketing Education Review, Journal of Teaching Business Ethics, and Case Research Journal, and is co-author of Business Ethics: Ethical Decision Making and Cases (10th edition) and Business and Society (5th edition) She co-leads the Daniels Fund business ethics initiative at the University of New Mexico Dr Ferrell is the President of the Academy of Marketing Science and a past president for the Marketing Management Association She is a member of the college advisory board for Cutco Vector She is on the NASBA Center for the Public Trust Board of Directors, University of Central FloridaNicholson School of Communication Board of Visitors, University of Tampa-Sykes College of Business, Board of Fellows, and the Direct Selling Education Foundation Board and Executive Committee She frequently speaks to organizations on “Teaching Business Ethics,” including the Direct Selling Education Foundation’s training programs, Ethics & Compliance Officer Association, NASBA Center for the Public Trust Ethical Leadership Conference, as well as others She has served as an expert witness in cases related to advertising, business ethics, and consumer protection ix www.downloadslide.com 586 Streitfeld, David, 542n Strom, Stephanie, 545n Stuckey, David, 518n Sullivan, Elisabeth, 537n Sullivan, Rachel Emma, 547n Summers, Nick, 560n Suri, Rajneesh, 558n Swartz, Jon, 562n Sweeney, Brigid, 543n Szymczak, Mike, 37 T Takahashi, Dean, 561n Tassi, Paul, 560n Taylor, Frederick W., 267 Tervalon, Melanie, 554n Tetrick, John, 360 Tetrick, Josh, 153 Thau, Barbara, 545n Thrasher, Michael, 541n Tilley, Aaron, 542n Tindell, Kip, 284, 285 Tinseth, Randy, 560n Tomas, G., 545n Toro, Ross, 549n Toscano, Paul, 532n Touryala, Halah, 566 Tozzi, John, 543n Treacy, Michael, 555n Trevisani, Paulo, 538n Trevor, C O., 545n Triedman, Julie, 541n Trotta, Daniel, 539n Trottman, Melanie, 555n Trujillo, Edward, 123 U Ulukaya, Hamdi, 145 Undercuffler, David, 556n Unsworth, Kerrie, 546n Useem, Jerry, 548n Name Index V Valdes, Manuel, 552n Vanasse, Zachary-Cy, 541n VanDerhei, Jack, 527 Vesely, Rebecca, 553n Viswanatha, Aruna, 565n Vogt, Heidi, 539n Vroom, Victor, 275 W Waggoner, Walter, 546n Walker, Marcus, 540n Walsh, Bryan, 535n, 550n Walsh, Mary Williams, 563n Walton, Sam, 23, 147, 156 Warren, April, 534n Warren, Christina, 557n Weise, Elizabeth, 533n Weisul, Kimberly, 543n Welch, Liz, 545n Wellins, Richard S., 548n Wells, Theodore V., Jr., 534n Wenxin, Fan, 559n Wetherbe, James, 550n Wetherill, Justin, 123 Whetstone, Lisa, 557n White, Bobby, 534n, 559n White, Tom, 557n Whitman, Margaret C., 131 Whitman, Meg, 184 Whitney, Eli, 21 Wieczner, Jen, 539n Wieners, Brad, 555n Wiersema, Fred, 555n Williams, Alex, 538n Williams, Geoff, 266n Williams, Jay, 259 Williams, Serena, Wilson, Jeanne M., 548n Winfrey, Oprah, 156 Wires, Natalie, 561n Woerte, Patricia A., 131 Womack, Brian, 543n Wood, Robert W., 565n Woodman, Nick, 22 Woodyard, Chris, 533n, 536n, 539n, 556n Worstall, Tim, 538n Wright, Orville, 335 Wrigley, William, Jr., 194 Wriston, Walter B., 540n Wysocki, Bernard, Jr., 549n Y Yaffa, Joshua, 543n Yan, Wang, 540n Yancey, Kitty Bean, 538n, 539n Yang Yuanqing, Yaqub, Reshma Memon, 549n Yarow, Jay, 547n Yarrow, Jay, 558n Yasu, Mariko, 545n Yingqun, Chen, 559n Yohn, Denise Lee, 557n Yu, Roger, 550n, 561n Yunus, Muhammad, 147 Z Zedillo, Ernesto, 131 Zeithaml, Valerie A., 549n Zellner, Wendy, 533n Zibel, Alan, 536n Zidle, Marcia, 553n Ziegler, Mel, 329, 555n Ziegler, Patricia, 329, 555n Zimmerer, Thomas W., 544n Zuckerberg, Mark, 182 www.downloadslide.com Company Index A A&E Television Network, 407 ABB, 231 Abbott, 311 AbbVie, 311 Accenture, 53, 248, 299, 311 Ace Hardware, 135 Acer Group, 95 ACNielsen, 361 Adecco, 236 Adobe, 53, 416 Adolph Coors, 128 ADP, 311 Aetna, 311 Aflac Incorporated, 53 AIG, 11, 264 AirTran Holdings, 136 Al Dente® Pasta Company, 437 Aluminum Company of America, 22 Amazon.com, 30, 84, 127, 146, 147, 158, 184, 220, 337, 344, 360, 393–394, 396, 410 America Online, 136 American Airlines, 73, 74, 136 American Express, 55, 131, 184, 400, 463–464, 472 Ameriprise, 472 Amway, 127 Anago Cleaning Systems, 160 AOL, 76 AON, 472 Apollo Investment Corp., 472 Apple, 3, 23, 26, 83, 84, 86, 95, 104, 115, 117, 124, 146, 147, 156, 164, 184, 190, 204, 224, 240, 241, 243, 254, 279, 280, 335, 340, 358–359, 365, 366, 380, 381, 448, 476, 477, 495, 496, 501, 503 AquAdvantage Salmon, 361–362 Archer Daniels Midland, 131 ARISE Food Co-op, 134 Ashland Oil, 178 ASUS, 95 AT&T, 127, 136, 188, 215, 277, 311 AT&T Broadband & Internet Svcs., 136 Audi, 403 Audiotech Electronics, 111 Auntie Anne’s Soft Pretzels, 151 Austin Energy, 60 Avon, 38, 215, 331 B Baidu, 392 Baker Tilly Virchow Krause, 423 Banana Republic, 61, 329 Bank of America, 24, 136, 279, 469, 470, 477, 482 Bank One Corporation, 136 Barclays Bank, 66, 105 Barclays Wealth International, 105 Barrett Business Services, 119 BASF, 106, 311 Bayer, 231, 371 BDO USA, 423 Bear Stearns, 136, 469 BellSouth Corporation, 136 Ben & Jerry’s, 23, 147 Berkshire Hathaway, 126, 184, 190 Best Buy, 129, 205, 279, 376 Bharti Enterprises, 89 Biogen Idec, 243, 244 Blockbuster, 73 Bloomingdales, 464 Blue Smoke Coffee, 60 BMW, 20 Boeing, 43, 106, 131, 220 Boston Consulting Group, 61 BP, 24 Breadwinner Cycles, 239 Bricks Kidz, 160 British Airways, 211 British Petroleum, 106, 510 Broadcast.com, 12 Bumble Bee Foods, Burberry, 401 Burger Development, 120 Burger King, 93, 136, 213, 236 Business.com, 132 C Cadillac, 337 Campbell Soup, 205, 232, 500 Canon, 99 CareerBuilder.com, 290 Cargill, 127 Cartridge World, 104 Caterpillar, 104, 128, 211 CBRE, 248 Celebrity Auto Group, 234 Celestial Seasonings, 207 Charles Schwab, 174, 240, 394, 473, 502 Checkers Pizza, 65 Chester’s, 160 Chevrolet, 357 Chevron, 59, 309 Chobani Yogurt, 145, 367 Circuit City, 203 Cirque du Soleil, 287 Cisco, 80, 163, 219 CitiBank, 477 Citigroup, 11, 24, 61, 472, 482 Clif Bar, 277 Clorox, 367, 427 CNN, 84 Coca-Cola, 3, 6, 7, 23, 73, 84, 93, 103, 107, 150, 184, 211, 219, 311, 342, 362, 364, 366, 379, 427, 500, 505 Colgate-Palmolive, 53, 107, 311, 363 Collabera, 179 Comcast, 311 Comcast Corporation, 136 Compuware Corporation, 252 ConAgra Foods, The Container Store, 280, 284–285, 297 Corning, 174 Costco Wholesale, 266 Countrywide Credit, 469 Countrywide Financial, 24, 73 Cox Communications, 311 Crimson Midstream, 122 Crimson Renewable Energy, 122 Crowe Horwath, 423 Cummins, 53, 311 CVS Caremark, 176 D Daewoo, 99 Dell Computers, 23, 95, 117, 146, 147, 155, 239, 242, 311 Deloitte, 311, 422, 423, 445, 449 Delta, 211 Deluxe Chips, 388 Deutsche Post, 11 DIA, 104 Diamond Foods, 36 Dodge, 338 Domino’s Pizza, 134, 259, 334 Dow Chemical, 128 Dr Pepper, 23 Dunkin’ Donuts, 159, 160 E Eagle Pharmaceutical, 284 Eastman Kodak, 136 Eaton, 53, 231 eBay, 53, 108, 117, 164, 235 Edward Jones, 473 Electric Machine and Equipment Company (Emeco), 23 Electrolux, 61, 93 Eli Lilly and Company, 22, 311 Enron, 24, 421 Equifax, 492 Ernst & Young, 26, 311, 422, 423, 424 Estée Lauder, 334 Euronext, 503 587 www.downloadslide.com 588 Company Index Everstone Group, 93 EVO Payments International LLC, 105 Expedia.com, 397 Experian, 492 ExxonMobil, 105, 436 F Fab.com, 409 Facebook, 23, 152, 182, 195, 237, 314, 344, 397, 399, 403, 409, 411, 412, 418, 501, 503 FedEx, 23, 344 First Solar, 59 Fitch Ratings, 485 Five Guys Burgers and Fries, 104 Ford Motor, 20, 53, 124, 126, 147, 164, 177, 200, 215, 244, 338, 398, 491 Foxconn, 208, 224 Fred Alger Management, 178 Freddie Mac, 235 FUBU, 12 G Game Truck Licensing, 160 Gap, 53, 100, 329, 405 Gazprom, 12 General Electric, 53, 60, 104, 126, 128, 164, 177, 188, 213, 336, 472 General Electric Analytical Instruments, 253 General Mills, 7, 126, 311 General Motors, 11, 46, 88, 102, 105, 128, 174, 211, 232, 244, 348 368, 491 Glaceau, 149 Glaxo Wellcome, 136 GNC, 345 Gold Violin, 162 Goldman Sachs, 44, 275, 470, 474, 502 Goodwill Industries International, 454 Google, 23, 24, 26, 53, 61, 76, 89, 98, 108, 117, 122, 135, 136, 146, 147, 205, 213, 265, 279, 280, 303, 344, 363, 378, 379, 392, 399, 401, 411, 413, 441, 448, 500 GoPro Inc., 22 Grameen Bank, 147 Grant Thornton, 423 Green Mountain Coffee, 210 Groeb Farms, 92 Groupe Casino, 104 Groupon, 388–389 Gucci, 370 Gulf Oil, 22 H H J Heinz, 127, 178 Habitat for Humanity, 234 Hampton Creek Foods, 153, 360 Harley Davidson, 246 Hasbro, Herbalife, 177 Hershey, 6, 253 Hewlett-Packard, 95, 117, 131, 147, 184, 188, 232, 246, 448 Hilton Hotels and Resorts, 272, 344 Holiday Inn, 103 Home Depot, 60, 149, 394 Home Run, 259 Honda, 94, 239 Honey Solutions, 92 Hospital Corporation of America (HCA), 53 Hostess, 73 H&R Block, 103 HSBC Finance Corporation, 487 Husse, 104 Hyatt, 235, 277 Hyundai, 94 Kroger, 214 Kumon North America, 104 I M IBM, 105, 128, 164, 184, 188, 213, 220, 242, 246, 277, 311, 375, 494, 501 Infinity Computers, 199 Infosys, 248 Instagram, 403, 404 Intel, 128, 252 InterContinental Hotels Group, 104 International Paper, 53, 231 Intuit, 131 Invesco, 472 ISS, 248 It’Sugar, 334 Mac Tools, 160 Macy’s, 206, 372, 464 Maker Studios, 402, 403 ManpowerGroup, 53 Marketo, 128 Marks and Spencer, 53 Marriott International, 14, 24, 280, 311, 344 Mars, 127, 194, 263, 336, 340 Marsh & McLennan, 472 Martin Marietta, 64 Marvel Comics, 77 MasterCard, 61, 463, 464, 469 Matsushita, 106 Mattel, 3, 117, 372 Maytag, 277 McDonald’s, 23, 73, 84, 103, 104, 107, 128, 149, 190, 204, 213, 215, 236, 245, 249, 296, 347, 371, 404 McGladrey, 423 McKesson, 182 Medallion Corporation, 319 MediaSpike, 404 Medtronic, 311 Menchie’s, 160 Mercedes Benz, 391 Merck & Co, 311 Merrill Lynch, 73, 394, 464, 469, 473, 502 Method, 487 MGM Resorts International, 397 Microsoft, 3, 23, 146, 147, 366, 427, 433, 434, 435–436, 437, 440, 441, 443, 444, 445, 446, 447, 448, 449, 501, 503, 505 MicroSolutions, 12 Mitsubishi, 99, 106 Mitsubishi Power Systems, 231 Moelis & Co., 127 Monsanto, 311 Monster.com, 180, 290 J J D Power & Associates, 250, 251 Jan-Pro Franchising Int’l., 160 Jazzercise, 160 JCPenney, 190, 311 JetBlue, 235, 383 Jiffy Lube, 159 Jimmy John’s Gourmet Sandwiches, 160 Johnson & Johnson, 35, 178, 213, 215, 311, 371 JP Morgan Chase & Co., 36, 44, 136, 279, 469, 472, 474, 482, 505 J.P Morgan Stanley, 66 K Kaiser Permanente, 311 Kele & Co Jewelers, 302 Kellogg, 53, 308, 311 KeyCorp, 311 KFC, 78, 371 Kia, 251 Komatsu, 84 Kona Ice, 160 KPMG, 311, 422, 423 Kraft, 145, 311 L LegalZoom.com, 132 Lehman Brothers, 73, 449 Lenovo, 5–6, 95, 99, 104, 106, 243, 334 Levi’s, 23 Liberty Tax Service, 160 LinkedIn, 195, 289, 344 Little Washington, 234 L.L Bean, 333 Lockheed, 64 Lockheed Martin, 64 London International Financial Futures Exchange, 503 L’OREAL, 53 Lowe’s, 149, 304, 344 www.downloadslide.com Company Index Moody’s Investors Services, 485 Moot Cycles, 371 Morgan Stanley, 44, 184, 474, 502 Morningstar, 512 Moss Adams, 423 Motel 6, 387 MTC, 78 MTV, 84, 403 N NASDAQ, 427, 503 National City Bank, 469 Nest Labs, 135 Nestlé, 106, 212 Netflix, 30, 204, 370, 394, 396, 410 New Belgium Brewing Company, 60, 164, 190, 243, 354, 400 New Profit, 445 New York Life, 311 New York Stock Exchange, 503, 504 News Corp., 137 Nielsen, 311 Nike, 128, 176, 213, 247, 280, 359, 402, 403, 499 Nokia, 105, 207, 276, 391 Nokia Siemens Networks, 105 Northrop Grumman, 311 Nota Bene, 213 Novartis Pharmaceuticals Corporation, 311 Numi Organic Tea, 221 O Ocean Spray, 134 Oculus Rift, 152 Olive & Sinclair, 151 Olive Garden, 367 OMX, 503 Oracle, 163, 184 Orange Leaf Frozen Yogurt, 160 OrigAudio, 37 Outerwall, 30 P Panasonic, 179 Pandora, 43 Paramount Pictures, 182 Patagonia, 280 Paul Davis Emergency Services, 160 Pentaverate, 416, 417 PepsiCo, 53, 54, 103, 211, 217, 364 Pfizer, 366 Pillsbury, 186 Piper Aircraft, 376 Pitney Bowes, 80 Pixar, 156, 502 Pizza Hut, 84, 213, 259, 337 PKO Bank Polski, 105 Playskool, 398 PNC, 469 PODS, 142–143 Porsche, 237, 340 PricewaterhouseCoopers, 124, 311, 422, 423 Procter & Gamble, 5, 126, 128, 131, 211, 291, 311, 358, 378, 394, 418 Prudential Financial, 311 Prudential Securities, 237 Publix Supermarkets, 127, 214 Q Quest Star, 228 R Rackspace, 180 Radio Shack, 300 Ralph Lauren Corporation, 49 Reckitt Benckiser, 35 Red Bull, 3, 380 Red Robin, 237 Redbox, 30 Reebok, 104 ReFleece, 159 Rocket Fuel, 128 Rockwell Automation, 231 Rockwell Collins, 311 Rolex, 236 Rolls Royce, 338 Rosetta Stone, 376 Royal Caribbean International, 391 Royal Dutch Airlines, 400 Royal Dutch Petroleum, 136 Royal Dutch Shell, 106 Royal Philips, 52 R.W Sears Watch, 135 S SAC Capital Advisors, 293 Sacred Power, 148 Safeway, 214 Safeway Inc., 53 SAIC Motor, 105 Saks Fifth Avenue, 464 Salesforce.com, 53, 222 Samsung, 83–84, 99, 106, 133, 174, 204, 243, 344, 380 Schweppes Tonic Water, 93 Scott Paper, 59 Sears, 135, 464 Sears World Trade, 103 Sephora, 376 7-Eleven Inc., 160, 215 Seventh Generation, 176 Shanghai General Motors, 105 ShelfGenie Franchise Systems, 160 Shell Oil, 102 Shell Transport & Trading, 136 Siemens, 105, 106 589 Sierra Nevada Brewing Co., 181 Signal 88 Security, 160 Simply Hired, 290 Sirius, 135 Six Degrees.com, 397–398 Skype, 413 Smashburger, 120 Smashburger Franchising, 160 Smirnoff Vodka, 404 SmithKline Beecham, 136 SnagaJob, 290 Snapchat, 124 Sodexo, 184, 311 SOHM, 361 Solar Attic, 164 Sonic, 169–170 Sony, 99, 126, 274 Southwest Airlines, 136, 164, 188, 190, 235, 280 Southwest Windpower, 164 Spalding, 104 Square, 477 St John, 148 Standard & Poor’s (S&P), 99, 485 Standard Oil, 22 Starbucks, 24, 53, 61, 93, 100, 105, 107, 146, 147, 189, 303, 331, 337, 345, 369, 391, 434 Starwood Hotels & Resorts Worldwide, 406 State Farm, 344 Stein Mart, 273 Sterling Drug, 136 Stitch Fix, 157, 158 Subway, 104, 106, 159, 160, 232, 236 Sun Microsystems, 163 Sunbeam, 156 Suzuki, 99 Swatch Group SA, 15 T Taco Bell, 78, 153, 213, 371 TAG Heuer, 236 Tanishq, 94 Taobao, 396 Target, 3, 36, 291, 311, 372, 464 TD Bank, 311 Tesla Motors, 86, 244 Texaco, 106 Texas Instruments Incorporated, 53 3M, 164, 221, 280 TIAA-CREF, 311 Tiffany’s, 384 Tim Hortons, 104 Time Warner, 136, 311 T-Mobile, 53, 382 TOMS Shoes, 147, 204, 205 Toyota, 99, 106, 232, 274, 491 Toyota Motor North America, 311 Toys ‘R’ Us, 127, 175, 372 www.downloadslide.com 590 Company Index Trader Joe’s, 344 TransUnion, 492 True Religion, 149 Tweezerman, 146 Twitter, 128, 195, 237, 343, 344, 395, 397, 400–401, 409, 412 Tyco, 24 U Uber, 150 uBreakiFix, 123 UniKey, 149 Unilever, 106, 427 Unisys, 375 United States Steel Corporation, 22 United Way, 60 UPS, 53, 232, 244, 344 Urban Lending Solutions, 305 U.S Airways, 74, 136 U.S Postal Service, 129, 235 USAJobs, 290 V Vanguard Cleaning Systems, 160 Veeva Systems, 128 Ventura Motors, 353 Verizon Communications, 311, 500 Via Aviation, 96 Virgin Group, 273 Virgin Mobile, 403 Visa, 463, 464, 469, 472 Vista Bank Texas, 134 Volkswagen, 384 Volvo, 384 W W Atlee Burpee and Co., 153 Wachovia, 469, 477 Walmart, 3, 23, 66, 89, 100, 102, 106, 147, 156, 164, 174, 275, 301, 302, 308, 358, 372, 384, 396, 398, 491, 505 Walt Disney, 26, 39, 59, 77, 112, 117, 147, 184, 311, 502 Warner-Lambert, 366 Washington Mutual, 469 Waste Management, 53 Webco, 121 Wegmans, 268 WellPoint, 311 Wells Fargo, 311, 469, 470, 482 Wendy’s, 103, 371 Western Electric Company, 267 Western Grain Company, 453 Whirlpool, 177 Whole Foods, 24, 135, 145, 192, 214, 280, 403 Wild Oats, 135 Wipro, 248 Wrigley, 336 Wyndham Hotels and Resorts, 232 Wyndham Worldwide, 311 X Xerox, 16, 53, 164, 220, 365 Xiaomi, 83 XM Satellite Radio, 135 Y Y Combinator, 500 Yahoo!, 76, 89, 205, 279, 392, 401, 403 Yammer, 222, 237 Young Americans Bank, 8, YouTube, 22, 40, 43, 49, 394, 401, 403, 413, 418 Yum! Brands, 102, 128 Z Zales Jewelers, 403 Zappos, 191, 204, 205, 229, 280, 396, 398, 400 Zara, 245 Zoom Systems, 375 Zynga, 404 www.downloadslide.com Subject Index Boldface entries denote glossary terms and the page numbers where they are defined A Ability to repay, 158, 428, 524 Absolute advantage, 85 Abusive behavior, 41–42 Acceptability of money, 459 Accessibility, digital marketing, 393 Accessory equipment, 362 Accountability, 212 Accountants, 422–424 Accounting, 422 balance sheet, 437–441 career opportunities, 450 cash flow statements, 441–443 fraud, 421 income statements, 432–436 integrity in, 449–450 process, 428–431 ratio analysis, 443–449 uses of, 425–428 Accounting cycle, 429 Accounting equation, 429, 430 Accounting scandals, 37–38, 129, 422, 423–424 see also Sarbanes-Oxley Act; Scandals Accounting software, 209 Accounts payable, 439, 491–492 Accounts receivable, 437 maximizing, 489–490 Accrued expenses, 439 Acid test, 446 Acquisition, 135–136, 400 see also Merger Active Corps of Executives (ACE), 161 Ad valorem tariff, 90 Addressability, digital marketing, 393 Administrative manager, 186 Advertising bans, 47 cultural differences, 94 mobile, 405 online, 379 strategies, 378–379 vs publicity, 380 Advertising campaign, 378 Affirmative action programs, 312–313 Age Discrimination in Employment Act, 295 Agency, 72 Agenda, 195 Agent, 72 Agricultural economy, 20 Agriculture animal rights and, 52 industrialization’s impact on, 21 Vietnam’s growth, 100 AIDS test, recruiting and, 295 Air pollution, 57 Airlines customer service, 211 mergers and acquisitions, 137 mobile marketing, 405–406, 476 niche marketing, 340 Alien corporation, 127 Alternative energy sources, 52, 58–59 American economy, 19–24 entrepreneur, role of, 22–23 ethics and social responsibility, 24 government, role of, 23–24 history, 20–22 Industrial Revolution, 20–21 small business in, 148–150 American management style, 274 Americans with Disabilities Act (ADA), 295 Analytical skills, 188 Analyzing options, 193 Annual report, 426 Antibacterial soap, 35 Appellate court, 68 Application, 291 Applications, 406 Appreciation and recognition, 180–181 see also Motivation Approaching, personal selling, 380 Arbitration, 68 Arbitration, 309 Arthur Page Society and the Business Roundtable Institute for Corporate Ethics, 65–66 Articles of incorporation, 126 Articles of partnership, 121–122, 123 Asia-Pacific Economic Cooperation (APEC), 99–100 Aspirin, 73 Asset utilization ratios, 445 Assets on balance sheets, 437, 439, 440 defined, 428 Association of Southeast Asian Nations (ASEAN), 100–101 challenges, 101 Attitude buying behavior, 346 Audited accounting information, 426 Autocratic leaders, 189 Automated clearinghouses (ACHs), 475–476 Automated teller machine (ATM), 475 Automobile manufacturing early developments, 21 eco-friendly interiors and, 20 lighter-weight vehicles, 58 Avatar, 404 B Balance of payments, 86 Balance of trade, 86–87 Balance sheet, 437–441 Bangladesh, worker safety in, 100 Bank failures, 471 investment in sustainability, 470 loans, 492–493 Bank lending policies, 482 Banking crisis see Global financial crisis Banking institutions, 468–471 insurance for, 471 Bartering, 158, 458 Behavior modification, 276 Behavioristic variables, 341 Benchmarking, 252 Benefits, 303–305 Best Companies to Work For (Fortune), 203, 263, 279 Beta, 499 Blogs, 401 Board of directors, 129–130 Sarbanes-Oxley Act and, 129 Bonds, 497 types, 497–498 Bonuses, 302 Bookkeeping, 424–425 “Bottom-up” budgets, 426 Boycott, 308 Brand see also Marketing strategy identity, 365–366 value, 3, 20, 366 Brand mark, 365 Branding, 365–367 Breach of contract, 72 Bribes, 40 Brief marketing plan, 31 Brokerage firms, 473 Brokers, 497, 501, 503 Brownouts, 89 Budget, 426 Budget deficit, 19 Bullying in workplace, 42 Business, addressing problem, 96 building trust in, 65–66 in a classroom, 25 competition in, 3, 14–16 economic cycles and productivity, 16–19 economic systems, 9–12 financial management and securities market, 511 free-enterprise system, 12 goal of, 4–5 591 www.downloadslide.com 592 Subject Index Business (Continued) people and activities of, 5–7 reasons to study, 7–8 supply and demand, 13–14 Business analysis, 360 Business challenges responding to, 15, 135, 192, 205, 243, 279, 337, 383, 404 Business conduct legal pressure for responsible, 78–81 Business description, 31 Business ethics, 24, 36–51 see also Ethics Business law, 38, 67 see also Legal and regulatory environment elements of, 70–74 Business objectives see Objectives Business ownership corporation, 116, 126–133 limited liability company, 116, 134 mergers and acquisitions, 135–138 partnership, 116, 120–125 S corporation, 116, 133–134 sole proprietorship, 116–120 Business plan, 156 accounting and financial statements, 453–454 customer-driven marketing, 353 digital marketing, 417 ethics and social responsibility, 65 financial system, 482 guidelines for development, 31–32 human resources, 319 idea generation, 29 international business, 111 manufacturing operations, 258 marketing mix, 352 marketing strategy, 388 motivation and, 284 nature of management, 199 organization, teamwork, and communication, 228 for organizing business, 142 small business, 156–157, 169 Business products, 362 channels for, 375 Business relationships, 47–48 Business responsibility partnerships, 124 Buying, 332 Buying behavior, 345–347 Buzz marketing, 380 Capitalism, 11 Car, eco-friendly interiors, 20 Carbon emissions air pollution and, 57 corporate citizenship and, 52 reducing, 58–59 social networking and, 399 Career accountant, 450 in business, 26 business ethics and social responsibility, 62 communication, 225 digital marketer, 414 entrepreneur, 165 financial management, 508 globalization, 108 human resource, 315 manager, 196 marketing, 350 marketing manager, 185 motivating workforce, 281 operations management, 255 organizational culture, 225 personal career plan, 321–326 small business, 148, 165 sustainability, 301 teamwork, 225 Cartel, 93 Cash flow, 425 Cashless society, 457 Centers for International Business Education and Research (CIBERs), 107 Centralized organization, 212–213 Certificates of deposit (CDs), 463 Certified fraud examiners (CFEs), 424 Certified management accountants (CMAs), 424 Certified public accountant (CPA), 422 Chartering the corporation, 126 Check clearing, 468 Checking account, 462 Chief privacy officer (CPO), 182 Cigarette labeling, 47 Civil law, 67 Classical theory of motivation, 267 Classroom training, 296 Clayton Act, 74–75 Climate change crisis, 52 Closing, personal selling, 380 Codes of ethics, 49 considerations in developing, 50 C C corporations, 126 Call-center jobs, 85 Capacity, 239 Capital partnership, 123 Capital budgeting, 494 Capital in excess of par, 499 Collateral, 158 Collective bargaining, 307–308 Collectors, 408 Commercial banks, 469 Commercial certificates of deposit (CDs), 488 Commercial paper, 488–489 Commercialization, 361–362 Commission, 302 Committee, 219 Common Market see European Union (EU) Common stock, 130 see also Stock Communications effectiveness, 224 ethical, 46–47 marketing and, 337 monitoring, 223 in organizations, 221–224 Communism, 9–10 Community relations, 60 Company cultures see Organizational culture Company resources, misuse, 42–43 Company time, misuse, 40–41, 45 Comparative advantage, 85 Compensation, 300–305 benefits, 303–305 financial, 301–303 Competition, 3, 14, 14–16 fairness and, 44 Competitive analysis, 31 Component parts, 362 Compressed workweek, 278 Compulsory arbitration, 309 Computer-assisted design (CAD), 242 Computer-assisted manufacturing (CAM), 242 Computer-integrated manufacturing (CIM), 242 Computers see also Digital media; Technology home-based businesses, 117 impact on on manufacturing, 242–243 tablet, 95, 117, 313, 346 testing aptitude with, 293 Concentration approach, 340 Conceptual skills, 188 Conciliation, 309 Conflict of interest, 43–44 Conflicts of ethics, 49 Conglomerate merger, 136 Connectivity, digital marketing, 393 Consideration, contract, 72 Consolidations see Merger Consumer feedback, 410 Consumer products, 362 channels for, 374–375 Consumer relations, social responsibility and, 55–56 Consumer-generated marketing, 398–407 Consumerism, 55 Contingency planning, 178 Continuous manufacturing organizations, 241 Contract, 72 elements, 72 Contract manufacturing, 104 Contractual capacity, 72 www.downloadslide.com Subject Index Controlling, 181–182 digital marketing, 393 Conversationalists, 408 Cooperative (co-op), 134–135 Copyrights, 73 Core time, 278 Corporate charter, 127 Corporate citizenship, 52 see also Social responsibility Corporate cultures see Organizational culture Corporate raider, 137 Corporate scandals, 65, 66 see also Sarbanes-Oxley Act Corporation, 126–133 advantages, 131–132 creating, 126–127 disadvantages, 132–133 elements, 129–131 private, 127 public, 127–128 Corruption Perceptions Index, 43, 44 Cost of goods sold, 435 Cost-of-living escalator (or adjustment) (COLA) clause, 308 Costs small business, 153 Counterfeiting, money, 461 Countertrade agreements, 102 Coupon rate, 497 Coupon-clipping, 381 Court systems, 68 Co-workers’ influence on ethical behavior, 48–49 Creativity, 193, 195 Creators, 408 Credit partnership, 123 Credit cards, 463–464 fraud, 464–465 Credit controls, 468 Credit union, 470 Criminal law, 67 Crisis management, 178 Critical path, 249 Critics, 408 Crowdsourcing, 409 Cultural barriers, trade, 93–94 Cultural behavioral differences, 93–94 Culture, 346 see also Organizational culture defined, 204 impact on buying behavior, 346–347 impact on ethics, 36 Currency, 458 see Money Current assets, 437, 486–491 Current liabilities, 439, 491–493 Current ratio, 446 Customer departmentalization, 211 Customer relationship management (CRM), 337 Customer satisfaction, 354 Customers, Customization, 239 consumer-generated marketing, 398–407 impact on marketing, 412 marketing mix and, 395–398 media sharing, 402–404 social networking, 397–398, 399–401 virtual worlds, 404 Celebrity Auto Group, 234 operations process, 239 D Day care facilities, 55 Deals in marketing, 388–389 Debentures, 497 Debit card, 464 Debt, 497 Debt financing, 158–159, 496 Debt to total assets ratio, 447 Debt utilization ratios, 446–447 Decentralized organization, 213 Decentralized structure Direct investment, 105 Directing, 180–181 Directors (corporate) see Board of directors Disaster recovery plans, 178 Disclosure of information, 133 Discount rate, 467 Discounts, 371 Dishonesty, 45 Dismissals for whistleblowing, 50–51 Dispute resolution, 308–309 alternative, 68–69 courts and, 67–68 CarMax, 203 Decision making ethical, 48 management, 191–194 partnership, 124 sole proprietorship, 118 steps in, 192–193 Decisional role, manager, 187 Decline stage, product, 365 Deflation, 16–17 Degree of centralization, 212–213 Delegation of authority, 212 Demand, 13 Demand curve, 13, 14 Demand deposit, 462 Democratic leaders, 189 Demographic trends, small business, 162–163 Demographic variables, 340 Departmentalization, 208–211 customer, 211 functional, 210 geographical, 211 product, 211 Depository insurance, 468 Depreciation, 435 Depression, 17 Development, 296 Diagonal communication, 223 Digital marketing see also Digital media; Marketing strategy characteristics of, 393 e-business and, 409 ethical, 404 growth and benefits, 392–393 legal and social issues, 410–413 media sharing, 402–404 overview, 393 social networking, 397–398, 399–401 Digital media, 393 see also Digital marketing business use, 393–395 challenges, 407 593 Distribution, 342 considerations, 396–397 in marketing mix, 371–377 Diversity, 184–185, 309–313 Diversity Pipeline Alliance, Dividend yield, 500 Dividends, 126 Dividends per share, 447–448 Divisibility of money, 459 Division of Enforcement, 55–56 Dodd-Frank Act purposes, 80–81 whistleblower provisions, 51 Domestic corporation, 127 Double-entry bookkeeping, 429, 430 Downsizing, 164, 179, 180 Downward communication, 222–223 Dumping, 92 Durability of money, 460 DVD rentals, 30 E Earnings per share, 447 E-business, 392 see also Digital media digital marketing and, 409 vs traditional business, 392–393 Eco-friendly interiors, 20 Economic barriers, trade, 88–89 Economic contraction, 16 Economic cycles, 16–19 Economic expansion, 16 Economic order quantity (EOQ) model, 246 Economic responsibilities, 51, 52 Economic system, 9–12 Economic trends, small business, 163–164 Economics, Electronic banking, 475–476 Electronic funds transfer (EFT), 475 Embargo, 92 Emeco, 23 Emergency recovery planning, 178 www.downloadslide.com 594 Subject Index Employee, see also Human resources management (HRM) benefits, 303–305 interaction, 205 motivation (see Motivation) relations, social responsibility and, 54–55 retaining, 266 satisfaction, 284–285 separation, 299–300 unionized, 305–309 Employee empowerment, 191 Employee–owner separation, 133 End time, 278 Energy alternatives see Alternative energy sources Entrepreneur, 22 successful traits of, 152 vs fraudsters, 156 Entrepreneurship, 146–147 see also Small business Environmental concerns, 65 see also Green business strategies, 62 alternative energy, 58–59 antipollution measures in China, 89 of electronics firms, impact on marketing, 347–349 pollution, 56–58 response to, 59–60 Environmental Protection Agency (EPA), 70 Equal Employment Opportunity Commission (EEOC), 55, 294 Equal Pay Act, 295 Equilibrium price, 13 Equity financing, 157–158, 496 Equity theory, 274–275 Esteem needs, 270 Ethical barriers, trade, 89–90 Ethical issue, 39 decision making, 48 Ethical responsibilities, 51, 52 Ethics business (see Business ethics), 36 cultural influences, 40 digital marketing, 404 improving, 48–51 major types of violations, 39–48 in organizational cultures, 36–38, 50 privacy, 313 recognizing issues, 39–44 unemployment, 60–61 world’s most ethical companies, 52, 53 Ethisphere Institute, 52 Ethnic minorities see Diversity; Minorities Euro zone, 98–99 Eurodollar market, 489 European Union (EU), 97–99 antitrust issues, 98 Even/odd pricing, 370 Exchange, 330 Exchange controls, 91 Exchange rate, 88–89 Exchange relationship, marketing, 330–332 Exclusive distribution, 376 Executive misconduct reporting, 50–51 Executive summary, 31 Expectancy theory, 275 Expenses, 435 Export agent, 103 Exporting, 86, 102–103 Express warranty, 71 Extrinsic rewards, 265 F Facebook, 399–400 Facility layout, 241 location, 240–241 Factor, 493 Factors of production, Factory closures, 61 Failure rate, small business, 154–155 Fairness, 44–48 Federal Deposit Insurance Corporation (FDIC), 471 Federal regulatory agencies, 69–70 Federal Reserve Board, 465 responsibilities, 465 Federal Reserve System, 465–468 Federal Savings and Loan Insurance Corporation (FSLIC), 471 Federal Trade Commission (FTC), 70 Feminine traits, for leadership, 192 Fiat money, 458 Finance, 7, 458 Finance companies, 474–475 Financial compensation, 301–303 see also Compensation Financial management career opportunities, 508 current assets, 486–491 current liabilities, 491–493 for fixed assets, 493–496 investment banking, 500–502 securities markets, 502–507 Financial manager, 186 Financial planning see Personal financial planning Financial projections, 32 Financial resources, see also Funding Redbox early challenges, 30 small business, 157–159 Financial statements, 432–443 analyzing, 443–449 balance sheet, 437–441 basic uses, 428 income statement, 432–436 ratio analysis, 443–449 statement of cash flows, 441–443 Financial system 2008–2009 crisis, 479 banking institutions, 468–471 (see also Bank) career opportunities, 479 electronic banking, 475–476 Federal Reserve Board, 465–468 money in, 458–465 nonbanking institutions, 471–475 Financing, 332 Financing activities cash from, 442, 443 Finished-goods inventory, 245 Firing employees, 179–180 First-line management, 185 First-line managers, 185 Fixed assets, 493–496 Fixed tariff, 90 Fixed-position layout, 241 Flexibility small business, 153 sole proprietorship, 118 work schedules, 277–280 Flexible manufacturing, 242 Flextime, 277–278 Floating-rate bonds, 498 Following up, personal selling, 380 Food and Drug Administration product quality and labeling enforcement, 45, 47 Ford Fusion, 200 Foreign corporation, 127 Foreign Corrupt Practices Act, 40 Foreign Corrupt Practices Act (FCPA), 49 Forensic accounting, 423 Franchise, 159, 160 Sonic, 169–170 Franchisee, 103 Franchisee, 159 Franchiser, 103 Franchiser, 159 Auntie Anne’s Soft Pretzels, 151 Franchising, 103 advantages and disadvantages, 160–161 small business, 159–161 Fraud, 71 see also Identity theft; Legal and regulatory environment; Scandals credit cards, 464–465 online, 412 Fraudsters vs entrepreneurs, 156 Free enterprise, 11, 12 Free-market system, 11 Free-rein leaders, 190 Front-line employees, 173 Functional departmentalization, 210 Funding see also Financial management corporations, 132 partnerships, 123, 125 sole proprietorship, 117, 119 www.downloadslide.com Subject Index G General Agreement on Tariffs and Trade (GATT), 95 General partnership, 121 Generally accepted accounting principles (GAAP), 432 Generation Y, 162 Generic products, 366 Geographic variables, 340 Geographical departmentalization, 211 Givebacks, labor unions and, 308 Global financial crisis bank bailouts, 423, 477 bank mergers during, 479 credit rating agencies and, 485 Greece’s problems, 98–99, 426–427 PIGS, 101 Global strategy (globalization), 107 Global warming, 59 see also Carbon emissions Globalization, 107 see also International business challenges of, 107 protests against, 106 trade agreements, 95–97 Group collaboration, 213 Growth coping with, 155 Growth objectives, 176 Growth stage, product, 364 H Handling objections, personal selling, 380 “Handshake deal,” 72 Hawthorne studies, 267–269 Headhunters, 290 Herzberg’s two-factor theory, 271–272 High technology, 152 Hiring process, 287 see Recruiting Hollywood labor unions, 320 Home equity loans, 469 Honesty, 44–48 Horizontal communication, 223 Horizontal merger, 136 Human relations, 264–266 Human relations skills, 188 Human resources, Human resources management (HRM) compensation planning, 300–305 diversity issues, 309–313 employee development, 296–300 overview, 288 planning, 288–289 recruiting and selection, 289–296 trends, 313–314 unionized employees, 305–309 Goals, 176 vs objectives, 176 Google+, 401 Government regulation sole proprietorship, 118 Grading, 332 Grapevine, 223 Great Depression, 17, 21, 95, 458, 471 Great Recession, 17 Green business strategies see also Environmental concerns assets and liabilities and, 487 biodiesel fuels, 122 carbon emissions, 399 career opportunities, 301 eco-friendly interiors, cars, 20 emission reduction, 181 executive position, creation of, 59 green power sources, 60 hydrogen fuel vehicles, 248 lighter-weight vehicles, 58 National Hockey League, 56 organic tea, 221 Patagonia, 244 plant-based food products, 360 up-cycling, 159 Wegmans, 268 Green power sources, 60 Greenhouse gases, 99, 348 see also Carbon emissions Greenwashing, 59 Gross domestic product (GDP), 17–18 Gross income (profit), 435 Group, 218 Human resources manager, 186 Human resources requirement, 32 The Human Side of Enterprise, 272 Hygiene factors, 271 I Ideas for business plan, 29 new product development, 359–360 as product, screening, 360 Identity theft, 411–412 Idle cash, investing, 488–489 Implementation, decision, 194 Implied warranty, 71 Import tariff, 90 Importing, 86, 102–103 Inactives, 409 Incentives, 180 see also Motivation Income statement, 432–436 temporary nature of, 436 Incorporators, 126 Indenture, 497 Independence in small business, 152 Individual retirement account (IRA), 472–473 Industrial Revolution, 20–21 Industrial services, 362 Industrialized nations, 88 595 IndustriALL, 100 Industry analysis, 31, 448–449 Industry problem, addressing Via Aviation, 96 Inflation, 16 Informal communication, 223 Informal organization, 223 Information systems, marketing research and, 343–345 Information technology see also Digital media; E-business impact on entrepreneurship, 146–147 impact on marketing research, 343 Information technology (IT) manager, 186 Informational role, manager, 187 Infrastructure, 88 In-house production, Lenovo, 243 Initial public offering (IPO), 128, 500 Innovation business model, 388–389 small business, 148–150 social, 445 Inputs, 233 uniformity, 236 Inside directors, 129 Insider trading, 43 Insourcing, 104 Inspection, quality management, 253 Insurance for banking institutions, 471 Insurance companies, 472 Intangible property, 73, 232, 235 Integrated marketing communications, 378 Intellectual property, 73 Internet and, 412–413 Intensive distribution, 375 Interactive multimedia research, 344 Interactivity, digital marketing, 393 Interest, 492 Intermittent organizations, 241 International business barriers, 88–95 defined, 84 laws and regulations, 89–90 role of, 84–87 strategies, 106–107 tariffs and trade restrictions, 90–92 trade agreements, 95–97 Walt Disney Company, 112 International Monetary Fund (IMF), 101 International Organization for Standardization (ISO), 252–253 Internet see also Digital marketing; Digital media; E-business banking via, 476 impact on marketing, 393 legal and regulatory issues, 76–78 marketing, 410–413 Interpersonal role, manager, 187 www.downloadslide.com 596 Subject Index Interview, 291–292 Intimidating behavior, 41–42 Intranets, 221–222 Intrapreneurs, 164 Intrinsic rewards, 265 Introductory stage, product, 363–364 Inventory, 245–247 EOQ model, 246 JIT inventory management, 246–247 MRP, 247 optimizing, 490–491 Inventory control, 245 Inventory managers, 246 Inventory turnover, 445–446 Investing activities see also Financial management; Financial system cash from, 442, 443 by Federal Reserve, 465 for idle cash, 488–489 personal, 240 Investment banker, 474 Investment banking, 500–502, 501 ISO 9000, 253 ISO 14000, 253 J Japanese management style, 274 Job analysis, 289 Job description, 289 Job enlargement, 277 Job enrichment, 277 Job rotation, 276 Job sharing, 278 Job specification, 289 Jobs see Career Joiners, 409 Joint venture, 105, 133 Journal, 430 Junk bonds, 498 Jurisdiction, 68 Just-in-time (JIT) inventory management, 246 K Kiosk, 30, 205 Knowledge and skills partnerships, 123 sole proprietorship, 119 L Labeling ethical issues, 47 product, 367 Labor, manufacturers vs service providers, 236 Labor contract, 307 Labor tactics, 308 Labor unions, 305, 305–309 hollywood, 320 Laissez-faire (“let it be”) capitalism, 11 Land pollution, 58 Launch Readiness plan, 200 Laws see Legal and regulatory environment Lawsuits, 67 Layoffs, 299, 300 Leadership, 188–191 feminine traits for, 192 Learning buying behavior, 346 Ledger, 430 Legal and regulatory environment alternative dispute resolution methods, 68–69 court systems, 68 dispute resolution, 67–68 laws affecting business practices, 74–76 regulatory administrative agencies, 69–70 sources of law, 67 Legal barriers, trade, 90–92 Legal responsibilities, 51, 52 Legality, 72 Lenders, 19, 61, 235, 426, 428, 524 see also Loans Less-developed countries (LDCs), 88 Leveraged buyout (LBO), 137 Liabilities on balance sheets, 439–441 defined, 428 Licensee, 103 Licensing, 103 Licensor, 103 Limited liability corporations, 131 Limited liability company (LLC), 116, 134 Limited partnership, 121 Line of credit, 158 Line of credit, 492 Line structure, 215 Line-and-staff structure, 216 Liquidity, 437 Liquidity ratios, 446 Loans from nonbanking institutions, 471, 472 to sole proprietorships, 119 Location, facility, 240–241 Location-based networks, 406 Lockbox, 487 Lockout, 308 Logistics, 244–245 see also Operations management (OM) Long-range objectives, 177 Long-term (fixed) assets, 493 Long-term liabilities, 497–498 Luxury car, eco-friendly interiors, 20 M Mad Money, 403 Major equipment, 362 Malcolm Baldrige National Quality Award, 251 Management, 5–6, 174 areas of, 185–187 controlling, 181–182 decision making, 191–194 directing, 180–181 ethical compromises, 47, 50 first-line, 185 importance of, 174 leadership, 188–191 level of, 182–185 middle, 185 operations (see Operations management (OM)) organizing, 179 planning, 175–178 in practice, 194–195 quality (see Quality management) staffing, 179–180 supply chain (see Supply chain management) tactics, 308–309 top, 182–185 types of, 182–187 Managerial accounting, 425 Managerial inexperience, 155 Managers, 174 see also Management analytical skills, 188 conceptual skills, 188 human relations skills, 188 roles, 187 technical expertise, 187 Manufacturer brands, 365 Manufacturers vs service providers, 235–237 Manufacturing, 232 see also Operations management (OM) small businesses, 151 sustainability and, 243–244 Manufacturing economy, 21 Maquiladoras, 97 Market, 338 performance, 504–507 Market analysis, 31 Market coverage, distribution, 375–376 Market orientation, 336 Market segment, 338 Market segmentation, 338 approaches, 340 Market value, 499 Marketable securities, 488 Marketing, 6–7, 330 see also Digital marketing concept, 333–337 environment, 347–349 exchange relationship, 330–332 functions of, 332–333 global, 85 (see also International business) importance of, 348–349 www.downloadslide.com Subject Index mobile, 405–406 value creation, 333 viral, 381, 402–403 Marketing channel, 371–373 Marketing concept, 333–337 Marketing economy, 21 Marketing manager, 186 Marketing mix, 341, 341–343, 349, 358 in business plan, 352 digital media and, 395–398 distribution in, 371–377 pricing in, 369–371 product in, 358–369 promotion in, 377–384 Marketing research, 333, 343–345 online, 344–345 Marketing strategy see also Digital marketing deals, 388–389 developing, 338–343 distribution in, 371–377 importance, 384 importance of, 384 marketing mix, 31, 341–343, 349, 358 pricing in, 369–371 product in, 358–369 promotion in, 377–384 Maslow’s hierarchy, 269–271 Master budgets, 426 Material-requirements planning (MRP), 247 Materials handling, 377 Matrix structure, 217–218 Maturity stage, product, 364 Media sharing, 402–404 Mediation, 68 Mediation, 309 Merger, 135, 136 mania, 137 Mexico Restricted Zone, 90 trade agreements with, 96–97 Microblog marketing, 391 Middle management, 185 Middle managers, 173 Middle managers, 185 “Milk mustache” advertising campaign, Millennials, 162 Millennials, buying behavior, 347 Mini-trial, 68 Minorities buying power, 339 employment opportunities, 55 Mission, 175–176 Misuse of company resources, 42–43 Misuse of company time, 40–41, 45 Mixed economies, 11–12 Mobile advertisements, 405 Mobile applications (apps), 406 Mobile marketing, 405–406 Mobile payments, 406–407 Mobile websites, 405 Modified capitalism, 11 Modular design, 238–239 Monetary policy, 465–468 Money, 458 characteristics of, 459–461 in financial system, 458–465 functions of, 458–459 types, 461–465 Money market accounts, 463 Money market fund, 473 Monitoring communications, 223 Monopolistic competition, 14–15 Monopoly, 15–16 Morale, 265 Mortgage, 158, 469 crisis, 74, 506–507 (see also Global financial crisis) Motivation buying behavior, 346 Container Store and, 284–285 defined, 264 historical perspectives on, 267–269 human relations, 264–266 importance of, 280–281 recognition and appreciation, 180–181 Stein Mart and, 273 strategies, 276–281 theories, 269–276 Motivational factors, 272 Multidivisional structure, 216–217 Multimedia messages, 405 Multinational corporation (MNC), 105–106 Multinational strategy, 107 Multisegment approach, 340 Mutual fund, 473 Mutual savings banks, 470 Myers-Briggs Type Indicator, 293 N National Business Ethics Survey (NBES), 40, 41, 47, 50 National Credit Union Association (NCUA), 471 Natural resources, Net income, 435 Networking, 161, 195 New issue, 500 Niche marketing, 340 Nonbank liabilities, 493 Nonbanking institutions, 471–475 Nonprofit corporations, 129 Nonprofit organizations, North American Free Trade Agreement (NAFTA), 96–97 597 NOW (Negotiable Order of Withdrawal) account, 463 Nylon, 73 O Objective assessment, performance, 298 Objectives, 176 vs goals, 176 Observational research, 344 Occupational Safety and Health Administration (OSHA), 54 Offshoring, 104–105 Oligopoly, 15 Online advertising, 379 see also Digital marketing Online banking, 476 Online consumers, 409 see also Digital marketing Online fraud, 412 see also Fraud Online marketing research, 344–345 On-the-job training, 296 Open market operations, 466 Operating activities cash from, 441, 442 Operational excellence, Home Run Inn, 259 Operational issues, 32 Operational plans, 178 Operations, 232 supply chain management and, 254 Operations management (OM), 232–237 in service businesses, 233–237 transformation process, 233 Operations manager, 186 Operations processes, designing, 238–239 Organizational chart, 206 Organizational culture, 204–206 Organizational layers, 214–215 Organizational structure defined, 206 line structure, 215 line-and-staff structure, 216 Zappos, 229 Organizing, 179 Orientation, 296 OrigAudio, idea opportunity and, 37 Outputs, 233 uniformity, 236 Outside directors, 129 Outside resolution, 309 Outsourcing, 85, 104 supply chain management, 247–248 Overspecialization, 208 Over-the-counter (OTC) market, 503 Owners, social responsibility and, 54 Owners’ equity on balance sheets, 441 defined, 428 financing with, 498–500 Ownership forms see Business ownership www.downloadslide.com 598 Subject Index P Packaging, 367 Par value, 499 Partnership, 120–125 advantages of, 122–124 articles of, 121–122, 123 disadvantages of, 124–125 general, 121 keys to success, 121 limited, 121 selling, 125 Smashburger and, 120 Partnership capital, 122 Patents, 73 Payables see Accounts payable Peer-to-peer lenders, 478 Penetration price, 370 Pension funds, 472–473 Per share data, 447 Perception buying behavior, 346 Performance assessment, 297–299 Perpetual life corporations, 131–132 Personal career plan, 321–326 Personal financial planning, 513–531 Personal property, 73 Personal selling, 379–380 Personal space, 93 Personality buying behavior, 346 tests, 293 Phishing, 411 Photo sharing, 403 Physical distribution, 376–377 Physiological needs, 269 Picketing, 308 PIGS financial crisis, 101, 427 Pirated software, 47 Plagiarism, 46, 48 Planning capacity, 239 facilities, 240–243 human resources needs, 288–289 as management function, 175–178 Plant-based materials, 20 Plastic bag, bans, 58 Podcast, 403 Poison pill, 137 Policies, 49–50 Political barriers, trade, 92–93 Pollution, 56–58 see also Environmental concerns China and, 89 Ponzi scheme, 156 Portability of money, 459–460 Portable On Demand Storage (PODS), 142–143 Posting, 430 Power of attorney, 73 Preemptive right, 131 Preferred stock, 130 Presenting, personal selling, 380 Price, 341 Price skimming, 370 Pricing considerations, 397 long-term money, 494–496 marketing, 341–342 strategies, 369–371 Primary characteristics, diversity, 309 Primary data, 343 Primary market, 474 Primary market, 501 Prime rate, 492 Principal, 72, 492 Privacy Promotion, 299 considerations, 397 in marketing, 342–343, 377–384 objectives, 382–383 Promotion mix, 378–381 Promotional positioning, 383–384 Prospecting, 380 Protective tariffs, 91 Proxy, 131 Psychographic variables, 340 of buying behavior, 346 Psychological pricing, 370 Public accountants, 422–424 Public corporation, 127 Public distrust, 65–66 Public relations, 380 Publicity, 380–381 vs advertising, 380 internet marketing, 410–411 Private accountants, 424 Private corporation, 127 Private court system, 69 Private distributor brands, 365 Process layout, 241 Processed materials, 362 Procter & Gamble, Product, branding, 365–367 classification, 362 considerations, 396 development process, 358–362 identifying, 365–369 labeling, 367 life cycle, 363–365 marketing, 341, 358–369 packaging, 367 planning, 237–238 quality, 368–369 Product departmentalization, 211 Product labeling, 47 Product layout, 241 Product liability, 71 Product line, 363 Product mix, 363 Product-development teams, 220 Production, 232 see also Manufacturing; Operations management (OM) orientation, 335 Production and Operations Manager, 185 Production manager, 186 Productivity, measurement of, 237 Profit, partnerships, 125 sole proprietorship, 118 Profit margin, 444 Profit sharing, 302 Profitability ratios, 444 Program Evaluation and Review Technique (PERT), 248 Project organization, 241 Project teams, 220 Pull strategy, 381–382 Purchasing, 245 Pure capitalism, 11 Pure competition, 14 Push strategy, 381–382 Q Qualified employees sole proprietorship, 120 Quality, 368 Quality circles (quality-assurance teams), 220–221 Quality control, 251 Quality Control Information Manager (QCIM) system, 235 Quality management, 250–254 inspection, 253 ISO, 252–253 sampling, 253–254 Quality-assurance teams (or quality circles), 220–221 Quasi-public corporations, 129 Quick ratio (acid test), 446 Quota, 91 R Ratio analysis, 443–449 Raw materials, 362 Raw materials inventory, 245 Real property, 73 Receivables see Accounts receivable Receivables turnover, 445 Recession, 16 Recession of 2008–2009 see also Global financial crisis causes, 17 layoffs during, 479 Recruiting, 289–290, 305 Cirque du Soleil, 287 external sources, 289–290 internal sources, 289 legal issues in, 294–295 www.downloadslide.com Subject Index Recycling, 60 see also Green business strategies; Sustainability electronics, Redbox, 30 Reference checking, 293–294 Reference groups, 346 Reference pricing, 371 Regulatory controls partnership, 124 sole proprietorship, 118 Relationship marketing, 400, 407 Relationships, ethical, 47–48 Remote monitoring systems, 231 Reputation small business, 153 Reserve requirement, 467 Resource misuse, 42–43 Responsibility, 212 assigning, 211–215 Secured bonds, 497 Secured loans, 492 Securities markets, 502–507 Security needs, 269 Selection, 291–294 legal issues in, 294–295 Selective distribution, 376 Self-actualization needs, 271 Self-directed work team (SDWT), 221 Selling, 332 Separations, 299–300 September 11 attacks, 178 Serial bonds, 498 Service Corps of Retired Executives (SCORE), 161 Service economy, 21 Service sector, 151 operations management in, 233–237 vs manufacturers, 235–237 Restricted Zone, 90 Retailers, 372 Retailing, 150–151 see also E-business Retained earnings, 500 Return on assets, 444 Return on equity, 444 Revenue, 434 Right to be heard, 55 Right to be informed, 55 Right to choose, 55 Right to safety, 55 Risk assessment, 494 Risk taking, 333 Risk-Weighted Environmental Index, 243 Robots, transformation process, 242 Routing, 249 Sexual harassment in workplace, 42 Shadow banking, 477–478 Shareholder activism, 115 Shark repellant, 137 Shark Tank, 12 Sherman Antitrust Act, 74 Short-range planning, 177–178 Sina Weibo, 391 Small business, 147–148 see also Entrepreneurship S Small Business Administration (SBA), 161 Small Business Administration (SBA), 147 Small Business Development Centers (SBDCs), 161 Small Business Institutes (SBIs), 161 Small-business managers, 161 Smartphones, 21, 313 S corporation, 126, 133–134 Salary, 302 see also Compensation Sales agreements, 70–71 orientation, 336 Sales promotion, 381 Sampling, quality management, 253–254 Sarbanes-Oxley Act, 38, 79–80 board of directors and, 129 Savings accounts, 463 Savings and loan associations (S&Ls), 469 Scabs, 309 Scandals accounting, 37–38, 129, 422, 423–424 corporate, 65, 66 Scheduling, 249 flexible, 277–280 Sears Holdings, evolution of, 135 Secondary characteristics, diversity, 309 Secondary data, 344 Secondary market, 474 Secondary markets, 501 Secrecy, sole proprietorship, 118 advantages, 152–153 disadvantages, 153–155 failure, 154–155 financial resources, 157–159 future, 162–164 role in American economy, 148–150 starting, 156–161 challenges in expansion, 83 SMS messages, 405 Social barriers, trade, 93–94 Social classes, 346 Social entrepreneurs, 147 Social innovation, 445 see also Innovation Social media in financial industry, 313 marketing research and, 344–345 recruitment and, 290 in workplace, 417–418 Social needs, 270 Social network, 397–398 Facebook, 399–400 Google+, 401 Twitter, 400–401 in workplace, 417–418 599 Social responsibility, 24, 36 arguments for and against, 52, 53 community relations, 60 consumer relations, 55–56 employee relations, 54–55 issues, 54–60 nature of, 51–60 owners and stockholders, 54 philanthropy, 445 privacy and, 313 profitability and, 54 Ralph Lauren Corporation in FCPA case, 49 sustainability issues, 56–60 unemployment, 60–61 Social roles, 346 Social variables of buying behavior, 346–347 Socialism, 10–11 Software pirating, 47 Sole proprietorships, 116–117 advantages of, 117–118 disadvantages of, 118–120 Sources of law, 67 SOX see Sarbanes-Oxley Act Span of management, 214 narrow, 214 wide, 214 Specialization, 207–208 Spectators, 409 Sports, ethical violations in, 39, 47 Stability of money, 460 Staffing, 179–180 Stakeholders, Standardization, 238 Standards for ethics, 49–50 Statement of cash flows, 441–443 Statistical process control, 252 Stock, 126 see also Dividends brokers, 497, 501, 503 buying and selling, 500–502 defined, 126 initial public offering, 128, 500 Morningstar, 512 sold by banks to U.S Treasury, 466, 488 Stock markets, 503 Stock ownership, 130–131 Stockholders, 126 social responsibility and, 54 Storing, 332 Strategic alliance, 105 Strategic plans, 177 Stress, small business, 154 Strikebreakers, 309 Strikes, 308 Structure, 206 see also Organizational structure Subjective assessment, performance, 298 Supplies, 362 www.downloadslide.com 600 Subject Index Supply, 13 Supply chain management defined, 244 distribution channel, 373–374 inventory, 245–247 operations and, 254 outsourcing, 247–248 purchasing, 245 routing, 249 scheduling, 249 Supply curve, 13, 14 Sustainability, 56 see also Environmental concerns; Green business strategies career opportunities, 301 China’s initiatives, 89 financial reports and, 427 investment in, 470 major issues, 56–60 manufacturing and, 243–244 tradeoffs, 58 Wegmans, 268 Swatch Group SA, 15 Symbolic/prestige pricing, 370 T Tactical plans, 177 Tangible property, 4, 73, 232, 235 Target market, 338 Tariffs, 90–92 Task force, 219–220 Tasks, assigning, 207–211 Taxation corporations, 132 partnership, 125 sole proprietorship, 118, 120 Teams, 218, 220 product-development, 220 project, 220 quality-assurance, 220–221 SDWT, 221 Technical expertise, 187 Technology digital media and, 407 marketing and, 348 as trade barriers, 95 transformation process, 242–243 trends, small business, 163–164 Telecommuting, 205, 278–279 Tender offer, 137 Termination, partnership, 125 Test marketing, 361 Testing, selection process, 292–293 Theory X, 272 Theory Y, 272 Theory Z, 273–274 Theory Z—How American Business Can Meet the Japanese Challenge, 273 Time deposits, 463 Time perception, cultural differences, 94 Time theft, 40–41, 45 Times interest earned ratio, 447 Title VII of the Civil Rights Act, 294 Tobacco warning labels, 47 Top management, 182–185 Top managers, 173, 182–185 see also Management compensation, 184 ethical commitment, 47 “Top-down” master budgets, 426 Tort, 71 Total asset turnover, 446 Total quality management (TQM), 251 Total-market approach, 338 Trade see International business Trade barriers, 88–95 cultural barriers, 93–94 economic barriers, 88–89 ethical barriers, 89–90 legal barriers, 90–92 political barriers, 92–93 social barriers, 93–94 technological barriers, 95 Trade credit, 158 Trade credit, 491 Trade deficit, 86 Trade restrictions, 90–92 Trademark, 73 Trademark, 365 Trading company, 103 Training, 296–297 Transaction balances, 486 Transfer, 299 Transfer of ownership corporations, 131 Transformation process, 233 Translations, 93 Transportation, 332, 376–377 Treasury bills (T-bills), 488 Trial balance, 430 Trial court, 68 Triclosan, 35 Turnover, 299 Twitter, 400–401 U Undercapitalization, 155 Undercover Boss, 41 Unemployment, 16, 60–61 Uniform Commercial Code (UCC), 70 Unionized employees, 305–309 United States economy of (see American economy) public debt, 17 Unlimited liability partnerships, 124 proprietorship, 119 sole proprietorship, 119 Unsecured bonds, 497 Unsecured loans, 492 Up-cycling, ReFleece and, 159 Upward communication, 222 V Value, 333 Vendor Flex Program, Venture capital, 500 Venture capitalists, 158 Vertical merger, 136 Viral marketing, 381, 402–403 Virtual teams, 218–219 Virtual testing, 344 Virtual worlds, 404 see also Digital marketing Voluntary agreement, 72 Voluntary responsibilities, 51, 52 W Wage/salary survey, 300 Wages, 301 see also Compensation Warehousing, 377 Warning labels, 47 Water pollution, 56–57 The Wealth of Nations, 11, 208 Websites see also Digital media; Internet benchmarking tools for, 252 for job seekers, 289–290 promotions on, 342–343 Whistleblowing, 50 White knight, 137 Wholesalers, 373 Wholesaling, 150–151 Widgets, 407 Wiki, 402 Worker safety in Bangladesh, 100 Workforce diversity, 184–185 importance, 309–313 Working capital management, 486 Working from home, 205, 278–279 Work-in-process inventory, 245 World Bank, 101 World Trade Center attacks, 178 World Trade Organization (WTO), 95 ... similar fashion, making the collection and presentation of assurance of learning data simple and easy AACSB Tagging McGraw-Hill Education is a proud corporate member of AACSB International Understanding... 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