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Introduction to Business [Mīkstie vāki]

(Babson College, USA), (Arizona State University, USA),
  • Formāts: Paperback / softback, 432 pages, height x width: 276x212 mm
  • Izdošanas datums: 14-Apr-2023
  • Izdevniecība: SAGE Publications Inc
  • ISBN-10: 1071813145
  • ISBN-13: 9781071813140
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  • Mīkstie vāki
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  • Formāts: Paperback / softback, 432 pages, height x width: 276x212 mm
  • Izdošanas datums: 14-Apr-2023
  • Izdevniecība: SAGE Publications Inc
  • ISBN-10: 1071813145
  • ISBN-13: 9781071813140
Citas grāmatas par šo tēmu:
Written by bestselling authors Heidi M. Neck, Christopher P. Neck, and Emma L. Murray, Introduction to Business explores the fundamental building blocks of modern business while addressing social impact, ethics, and the power of innovation throughout. Cases on startups, small businesses, and corporations will ignite interest as readers learn from today’s most forward-looking organizations.

Also available in SAGE Vantage, an intuitive learning platform that integrates quality SAGE textbook content with assignable multimedia activities and auto-graded assessments to drive student engagement and ensure accountability. Learn more about 978-1-0718-8685-4, Introduction to Business - Vantage Digital Option.
  List of Case Studies
  xix  
Preface   xxi  
Acknowledgments   xxvii  
About the Authors   xxix  
  PART I BUSINESS IN AN ENTREPRENEURIAL WORLD
  1 (62)
  Chapter 1 The Business of Business
  3 (20)
  What Is Business?
  5 (2)
  Types of Business Organizations
  6 (1)
  Startups
  6 (1)
  Multinational Corporations
  6 (1)
  Growth Companies
  6 (1)
  Nonprofit Organizations
  7 (1)
  The Building Blocks of a Business
  7 (2)
  Block 1 The Offering
  7 (1)
  Block 2 Markets and Customers
  8 (1)
  Block 3 Structure and Purpose
  8 (1)
  Block 4 People Inside the Business
  9 (1)
  Block 5 Performance
  9 (1)
  The Role of Business in the World Today
  9 (4)
  People, Planet, Profit
  10 (1)
  People
  10 (1)
  Planet
  10 (1)
  Profit
  10 (1)
  The UN Sustainable Development Goals (SDGs]
  11 (2)
  The Future of Work
  13 (3)
  The Gig Economy
  13 (1)
  The Workers
  14 (1)
  The Companies
  14 (1)
  The Consumers
  14 (1)
  AI, Automation, and the Work of the Future
  15 (1)
  Entrepreneurial Thinking and the Future of Business
  16 (1)
  Social Responsibility and Ethical Decision Making
  16 (2)
  Ethical Decision Making
  17 (1)
  In Review
  18 (1)
  Businesses Discussed in This
Chapter
  19 (1)
  Key Terms
  20 (3)
  Chapter 2 Business Without Borders
  23 (24)
  Global Business Today
  25 (3)
  Common Challenges of Global Business
  26 (1)
  Approaches to Managing Legal and Regulatory Obligations
  26 (1)
  Choose the Right Business Structure
  26 (1)
  Be Mindful of Local Employment Laws
  26 (1)
  Understand the Impact of Tax Implications
  26 (1)
  Assess Pricing Challenges
  27 (1)
  Research Political and Cultural Considerations
  27 (1)
  Trading Across Borders
  28 (3)
  Types of Trade Restrictions
  28 (2)
  Absolute and Comparative Advantage
  30 (1)
  From Multinational Corporations to Startups in a Flat World
  31 (4)
  Benefits and Criticisms of MNCs
  32 (1)
  Benefits of MNCs
  32 (1)
  Criticisms of MNCs
  33 (2)
  Working Across Cultures
  35 (2)
  Cultural Misunderstandings
  35 (1)
  Cultural Competence
  36 (1)
  Models to Help Improve Your Cultural Awareness
  37 (4)
  Hofstede Model of Cultural Dimensions
  38 (1)
  Meyer's Cultural Map
  39 (1)
  Molinsky's Six-Dimension Framework for Global Dexterity
  40 (1)
  In Review
  41 (1)
  Businesses Discussed in This
Chapter
  42 (2)
  Key Terms
  44 (3)
  Chapter 3 The Entrepreneurial Mindset
  47 (16)
  The Entrepreneurial Mindset
  49 (1)
  Growth Mindset Versus Fixed Mindset
  49 (3)
  Developing a Growth Mindset
  51 (1)
  The Entrepreneurial Mindset in Depth
  52 (2)
  Tolerance for Failure
  53 (1)
  Developing Grit
  54 (1)
  How Entrepreneurs Really Think
  54 (3)
  Theory of Effectuation
  55 (1)
  Deliberate Practice
  56 (1)
  How Deliberate Practice Shapes the Brain
  56 (1)
  Business in a VUCA World
  57 (3)
  VUCA and Entrepreneurs
  57 (2)
  The Known-Unknown Matrix
  59 (1)
  In Review
  60 (1)
  Businesses Discussed in This
Chapter
  60 (1)
  Key Terms
  61 (2)
  PART II BLOCK 1 THE OFFERING
  63 (64)
  Chapter 4 Business Creation
  65 (18)
  Business Creation Through Entrepreneurship Is the Economic Engine of Society
  67 (1)
  Global Entrepreneurship
  67 (1)
  The Truth About Entrepreneurship
  68 (3)
  The Seven Truths About Entrepreneurship
  68 (1)
  Truth #1 Entrepreneurship Is Not Reserved for Startups
  68 (1)
  Truth #2 Entrepreneurs Do Not Have a Special Set of Personality Traits
  69 (1)
  Truth #3 Entrepreneurship Can Be Taught Because It's a Way of Thinking
  69 (1)
  Truth #4 Entrepreneurs Are Not Extreme Risk Takers
  70 (1)
  Truth #5 Entrepreneurs Collaborate More Than They Compete
  70 (1)
  Truth #6 Entrepreneurs Act More Than They Plan
  70 (1)
  Truth #7 Entrepreneurship Is a Life Skill
  71 (1)
  Types of Entrepreneurship
  71 (3)
  Corporate Entrepreneurship
  71 (1)
  Entrepreneurship Inside
  71 (1)
  Franchising
  71 (1)
  Buying a Small Business
  72 (1)
  Social Entrepreneurship
  72 (1)
  Family Enterprise
  73 (1)
  Serial Entrepreneurship
  73 (1)
  Opportunities---Not Ideas---Create Businesses
  74 (3)
  The Idea Classification Matrix
  74 (2)
  Four Pathways to Opportunity Recognition
  76 (1)
  The IDEATE Method of Opportunity Recognition
  77 (2)
  Applying the IDEATE Method
  78 (1)
  In Review
  79 (1)
  Businesses Discussed in This
Chapter
  80 (1)
  Key Terms
  81 (2)
  Chapter 5 Business Models
  83 (20)
  What Is a Business Model?
  85 (1)
  The Four Parts of a Business Model
  85 (1)
  The Offering
  85 (1)
  The Customers
  85 (1)
  The Infrastructure
  86 (1)
  Financial Viability
  86 (1)
  The Most Common Components of a Business Model
  86 (2)
  The Problem
  86 (1)
  The Solution
  86 (1)
  Key Resources
  86 (1)
  Customer Segments
  86 (1)
  Value Proposition
  87 (1)
  Competitive Advantage
  87 (1)
  Sales Channels
  87 (1)
  Revenue Model
  87 (1)
  Cost Structure
  87 (1)
  Key Partners
  87 (1)
  Key Metrics
  87 (1)
  Types of Business Models
  88 (3)
  Distributor
  88 (1)
  Retailer
  88 (1)
  Franchising
  88 (1)
  Subscription
  89 (1)
  Aggregator
  89 (1)
  Advertising
  89 (1)
  Data Licensing/Data Selling
  89 (1)
  Software as a Service (SaaS)
  89 (1)
  Utility and Usage
  89 (1)
  Professional
  90 (1)
  Licensing
  90 (1)
  Freemium
  90 (1)
  The Business Model Canvas Tool
  91 (4)
  Using the BMC for Ideation and Innovation
  93 (1)
  Freshwatching
  93 (1)
  Remove the Core
  93 (1)
  Epicenters
  94 (1)
  Follow Patterns
  94 (1)
  Ask Trigger Questions
  94 (1)
  Business Model Disruption
  95 (3)
  Disruptive Innovation
  96 (1)
  How Companies Can Develop a Disruptive Business Model23
  97 (1)
  Disruption Requires Research
  97 (1)
  Unmet Needs
  97 (1)
  Innovation Is Key
  97 (1)
  Market Creation
  98 (1)
  In Review
  98 (1)
  Businesses Discussed in This
Chapter
  99 (1)
  Key Terms
  100 (3)
  Chapter 6 Business Strategy for Competitive Advantage
  103 (24)
  The Importance of Business Strategy
  105 (2)
  Connecting Strategy to Mission and Vision
  105 (1)
  How Strategy Connects With Competitive Advantage
  106 (1)
  The Four Generic Strategies and Competitive Advantage
  107 (2)
  Stuck in the Middle
  109 (1)
  External Strategic Analysis
  109 (5)
  PESTLE Analysis
  111 (2)
  Scenario Planning
  113 (1)
  Internal Strategic Analysis
  114 (5)
  Resource-Based View
  116 (1)
  Valuable
  117 (1)
  Rare
  117 (1)
  Costly to Imitate
  118 (1)
  Organized to Capture Value
  118 (1)
  Competitive Profile Matrix
  118 (1)
  Hypercompetition
  119 (3)
  The 7S's Hypercompetition Model
  121 (1)
  In Review
  122 (1)
  Businesses Discussed in This
Chapter
  123 (1)
  Key Terms
  124 (3)
  PART III BLOCK 2 MARKETS AND CUSTOMERS
  127 (46)
  Chapter 7 Marketing and Sales
  129 (24)
  The Role of Marketing and Sales in Business
  131 (1)
  The Marketing Mix
  132 (9)
  Product
  132 (1)
  Price
  133 (1)
  Types of Pricing Strategies
  133 (1)
  Promotion
  134 (1)
  Types of Advertising
  134 (2)
  Specialty Promotion
  136 (1)
  Sales Promotions
  136 (2)
  Public Relations
  138 (1)
  Content Marketing
  139 (1)
  Place
  140 (1)
  B2B and B2C Sales
  141 (1)
  The Sales Cycle
  142 (2)
  Modern Selling Techniques
  144 (4)
  SPIN Selling
  144 (1)
  Situation
  144 (1)
  Problem
  144 (1)
  Implication
  145 (1)
  Need-Payoff Questions
  145 (1)
  SNAP Selling
  145 (1)
  Keep It Simple
  145 (1)
  Be iNvaluable
  145 (1)
  Always Align
  145 (1)
  Raise Priorities
  145 (1)
  N.E.A.T. Selling
  146 (1)
  Inbound Selling
  146 (1)
  Customer-Centric Selling
  146 (2)
  In Review
  148 (1)
  Businesses Discussed in This
Chapter
  148 (2)
  Key Terms
  150 (3)
  Chapter 8 Customers and Market Segments
  153 (20)
  How Customers Create Markets
  155 (1)
  Customers and Markets
  155 (1)
  Types of Customers
  156 (2)
  Consumer Behavior and Buying Decisions
  158 (2)
  Customers Seek Functional and Emotional Value
  158 (1)
  Connecting With Customers on an Emotional Level
  159 (1)
  The Buying Process
  160 (4)
  The Technology Adoption Life Cycle
  162 (2)
  Market Segmentation
  164 (4)
  Types of Segments
  164 (1)
  Benefits of Segmenting a Market
  165 (3)
  In Review
  168 (1)
  Businesses Discussed in This
Chapter
  169 (1)
  Key Terms
  170 (3)
  PART IV BLOCK 3 STRUCTURE AND PURPOSE
  173 (46)
  Chapter 9 Organizational Structure and Design
  175 (24)
  Organizational Structure
  177 (2)
  Organizational Charts
  177 (1)
  Types of Managers
  178 (1)
  Elements of Organizational Structure
  179 (4)
  Division of Labor
  179 (1)
  Departmentalization
  179 (1)
  Chain of Command
  179 (2)
  Span of Control
  181 (1)
  Authority, Responsibility, and Delegation
  181 (1)
  Authority
  181 (1)
  Responsibility
  181 (1)
  Delegation
  182 (1)
  Centralization and Decentralization
  182 (1)
  Formalization
  182 (1)
  Traditional Organizational Structures
  183 (2)
  Simple Structure
  183 (1)
  Functional Structure
  184 (1)
  Divisional Structure
  184 (1)
  Vertical Organizational Structure
  184 (1)
  Horizontal Organizational Structure
  184 (1)
  Contemporary Organizational Structures
  185 (5)
  Matrix Organizations
  186 (1)
  Network Structure
  186 (1)
  Holacratic Organizational Structure
  186 (1)
  Process-Based Organizational Structure
  187 (1)
  Virtual Organizational Structure
  188 (1)
  Circular Structure
  188 (2)
  Primary Factors in Determining Structural Type
  190 (3)
  Environment
  190 (1)
  Mechanistic Structure
  190 (1)
  Organic Structure
  191 (1)
  Company Size
  191 (1)
  Strategy
  191 (1)
  Technology
  192 (1)
  Financial Condition
  192 (1)
  The Organizational Life Cycle
  193 (1)
  In Review
  193 (2)
  Businesses Discussed in This
Chapter
  195 (1)
  Key Terms
  196 (3)
  Chapter 10 Organizational Mission and Culture
  199 (20)
  Organizational Mission, Vision, and Values
  201 (3)
  Mission Statement
  201 (1)
  Mission as a Guide for Strategic Decisions
  202 (1)
  Vision
  202 (1)
  Values
  203 (1)
  Organizational Culture
  204 (3)
  Strong and Weak Organizational Cultures
  205 (2)
  Dimensions of Organizational Culture
  207 (4)
  Different Types of Culture
  208 (1)
  Positive Organizational Culture
  208 (1)
  Communal Culture
  208 (1)
  Fragmented Culture
  208 (1)
  Mercenary Culture
  209 (1)
  Networked Culture
  209 (1)
  Ethical Culture
  210 (1)
  Spiritual Culture
  210 (1)
  Employee Fit With Organizational Culture
  211 (1)
  Culture and Mental Health
  212 (1)
  Clues to Help Decipher Organizational Culture
  212 (2)
  Symbols
  213 (1)
  Practices
  213 (1)
  Rituals
  213 (1)
  Myths
  213 (1)
  In Review
  214 (1)
  Businesses Discussed in This
Chapter
  215 (2)
  Key Terms
  217 (2)
  PART V BLOCK 4 PEOPLE INSIDE THE BUSINESS
  219 (86)
  Chapter 11 Management and Leadership
  221 (22)
  What Is Management?
  223 (2)
  What Managers Do
  224 (1)
  The Four Functions of Management
  225 (3)
  Planning
  225 (1)
  Types of Plans
  225 (1)
  Organizing
  226 (1)
  Leading
  227 (1)
  Controlling
  227 (1)
  Different Types of Managers
  227 (1)
  Financial Managers
  228 (1)
  Operations Managers
  228 (1)
  Marketing Managers
  228 (1)
  Human Resources Managers
  228 (1)
  Administrative Managers
  228 (1)
  Essential Management Skills
  228 (3)
  Other Important Management Skills
  229 (2)
  Leading Versus Managing Others
  231 (4)
  What Leaders Do
  232 (1)
  The Differences Between Managers and Leaders
  232 (1)
  Various Leadership Styles
  233 (2)
  Diversity, Equity, and Inclusion (DEI)
  235 (3)
  How Leaders Can Promote DEI in Organizations
  237 (1)
  Positive Ways to Promote DEI
  238 (1)
  In Review
  238 (1)
  Businesses Discussed in This
Chapter
  239 (1)
  Key Terms
  240 (3)
  Chapter 12 Human Resource Management
  243 (24)
  Human Resource Management and Talent Management
  245 (2)
  Main Challenges for HRM
  245 (1)
  Rise in Flexible Working
  246 (1)
  Growth in Gig Workers
  246 (1)
  Reskilling/Upskilling
  246 (1)
  Increasingly Diverse Workforce
  246 (1)
  Recruitment and Selection for Diversity and Inclusion
  247 (8)
  Levels of Diversity
  247 (1)
  Age Diversity
  248 (1)
  Race and Ethnicity Diversity
  248 (1)
  Gender Diversity
  248 (1)
  Sexual Orientation
  249 (1)
  Ability Diversity
  249 (1)
  Legal Framework for Diversity and Inclusion
  249 (3)
  Finding Strong Talent
  252 (1)
  Finding Internal and External Candidates
  252 (1)
  Hiring Nontraditional Candidates
  253 (1)
  The Selection Process
  253 (2)
  Onboarding and Training Employees
  255 (1)
  Remote Onboarding
  255 (1)
  The Training Process
  255 (1)
  Employee Performance
  256 (2)
  Achievement-Oriented
  257 (1)
  Fair and Accurate
  257 (1)
  Developmental
  257 (1)
  The Importance of Feedback
  257 (1)
  Retaining Employees Through Compensation
  258 (3)
  Retaining Employees Through Development Programs
  259 (1)
  Additional Benefits To Compensation Packages
  259 (1)
  College Tuition Assistance
  260 (1)
  Flexible Working Hours
  260 (1)
  Shorter Working Week
  260 (1)
  Financial Wellness Programs
  260 (1)
  Leave Policies
  260 (1)
  Well-being Programs
  261 (1)
  In Review
  261 (1)
  Businesses Discussed in This
Chapter
  262 (1)
  Key Terms
  263 (4)
  Chapter 13 Motivation and Empowerment
  267 (20)
  Motivation and Empowerment in Business
  269 (2)
  The Motivation Process
  269 (1)
  Empowerment
  270 (1)
  Intrinsic Motivation
  271 (6)
  Maslow's Hierarchy of Needs
  272 (1)
  ERG Theory of Motivation
  272 (1)
  Herzberg's Two-Factor Theory
  273 (1)
  McClelland's Acquired Needs Theory
  274 (1)
  Equity Theory
  274 (1)
  Expectancy Theory
  275 (1)
  Goal-Setting Theory
  276 (1)
  Extrinsic Motivation
  277 (3)
  Financial Sources of Extrinsic Motivation
  277 (1)
  Seniority-Based Pay
  277 (1)
  Job Content-Based Pay
  277 (1)
  Skill-Based Pay
  277 (1)
  Performance-Based Pay
  278 (1)
  Nonfinancial Sources of Extrinsic Motivation
  279 (1)
  Awards and Recognition
  279 (1)
  Job Enrichment
  279 (1)
  Training and Development
  279 (1)
  Combining Both Intrinsic and Extrinsic Motivators
  280 (2)
  Motivation for Ourselves
  282 (1)
  Motivation Through Empowerment and Self-Leadership
  282 (2)
  Self-Leadership as a Key Empowerment Strategy for Managers
  283 (1)
  In Review
  284 (1)
  Businesses Discussed in This
Chapter
  285 (1)
  Key Terms
  285 (2)
  Chapter 14 Communication in Business
  287 (18)
  The Role of Communication
  289 (1)
  The Communication Process
  289 (1)
  Forms of Communication
  290 (3)
  Face-to-Face Communication
  290 (2)
  Virtual Communication
  292 (1)
  Barriers to Effective Communication
  293 (4)
  Listening
  295 (1)
  Active Listening
  295 (2)
  Communicating in Organizations
  297 (2)
  Three Directions of Communication
  297 (1)
  Downward Communication
  297 (1)
  Upward Communication
  297 (1)
  Lateral Communication
  298 (1)
  Formal and Informal Networks
  298 (1)
  How To Control Gossip
  299 (1)
  Cross-Cultural Communication
  299 (3)
  Barriers to Cross-Cultural Communication
  300 (1)
  Ethnocentrism
  300 (1)
  Informal Language
  301 (1)
  Participation Norms
  301 (1)
  Conflict
  301 (1)
  Constructive Criticism
  301 (1)
  In Review
  302 (1)
  Businesses Discussed in This
Chapter
  302 (1)
  Key Terms
  303 (2)
  PART VI BLOCK 5 PERFORMANCE
  305 (88)
  Chapter 15 Business Operations
  307 (20)
  The Operations Behind Running a Business
  309 (2)
  Converting Inputs Into Outputs
  309 (1)
  How Operations Function in Different Industries
  310 (1)
  Retail Business Operations
  310 (1)
  Restaurant Business Operations
  310 (1)
  Service Company Business Operations
  310 (1)
  Product Business Operations
  311 (1)
  Digital Business Operations
  311 (1)
  Product Operations
  311 (1)
  Step 1 Production Planning
  311 (1)
  Step 2 Routing
  312 (1)
  Step 3 Scheduling
  312 (1)
  Step 4 Dispatching
  312 (1)
  Step 5 Follow Up
  312 (1)
  Types of Production Methods
  312 (3)
  Make to Order
  312 (1)
  Mass Production
  313 (1)
  Mass Customization
  313 (1)
  Continuous Production
  314 (1)
  Lean Manufacturing
  314 (1)
  Agile Manufacturing
  314 (1)
  Additive Manufacturing
  315 (1)
  Quality Control
  315 (2)
  Continuous Improvement
  316 (1)
  Statistical Quality Control (SQC)
  316 (1)
  Six Sigma and Lean Six Sigma
  316 (1)
  Service Operations
  317 (1)
  Measure Customer Feedback
  317 (1)
  Report on Customer Data
  318 (1)
  Manage Technology
  318 (1)
  Strategize Positive Customer Experience
  318 (1)
  Support Customer Onboarding
  318 (1)
  Digital Operations
  318 (2)
  Digital Transformation
  320 (1)
  Digitization and the Employee Experience
  320 (1)
  Supply Chain Management
  320 (3)
  In Review
  323 (1)
  Businesses Discussed in This
Chapter
  324 (1)
  Key Terms
  325 (2)
  Chapter 16 Data Management and Analytics
  327 (18)
  Data and Information
  329 (1)
  Big Data Versus Small Data
  330 (1)
  User-Generated Data
  330 (1)
  Information Systems
  330 (2)
  Types of Information Systems
  331 (1)
  Data Communication Networks
  332 (2)
  Cloud Computing
  332 (1)
  The Internet
  333 (1)
  The World Wide Web
  334 (1)
  The Intranet
  334 (1)
  Extranet
  334 (1)
  Data Security Issues
  334 (1)
  Protecting Against Cybercrime
  335 (1)
  Business Analytics
  335 (6)
  Types of Business Analytics
  336 (1)
  Descriptive Analytics
  336 (1)
  Diagnostic Analytics
  336 (1)
  Predictive Analytics
  337 (1)
  Prescriptive Analytics
  337 (1)
  Components of Business Analytics
  337 (1)
  Data Aggregation
  337 (1)
  Data Mining
  338 (1)
  Association and Sequence Identification
  339 (1)
  Forecasting
  339 (1)
  Optimization
  339 (1)
  Data Visualization
  339 (1)
  Challenges Presented by Business Analytics
  340 (1)
  Executive Distrust
  340 (1)
  Poor Collaboration
  340 (1)
  Lack of Commitment
  341 (1)
  Low-Quality Data
  341 (1)
  In Review
  341 (1)
  Businesses Discussed in This
Chapter
  342 (1)
  Key Terms
  343 (2)
  Chapter 17 Accounting Basics
  345 (22)
  Accounting Is the Language of Business
  347 (2)
  Users of Accounting Information
  349 (1)
  Types of Accounting
  349 (2)
  Cash Basis Accounting and Accrual Basis Accounting
  350 (1)
  The Three Major Financial Statements
  351 (7)
  The Income Statement
  352 (2)
  The Balance Sheet
  354 (1)
  Other Types of Assets
  355 (1)
  Liabilities and Shareholder Equity
  356 (1)
  The Cash Flow Statement
  356 (2)
  Net Income Versus Cash Flow
  358 (1)
  Connecting the Three Statements
  358 (2)
  Analyzing Performance: Ratio Analysis
  360 (4)
  The Six Most Important Financial Ratios
  360 (1)
  Ratio #1 Gross Margin Percentage
  361 (1)
  Ratio #2 Profit Margin
  361 (1)
  Ratio #3 Return on Equity
  361 (1)
  Ratio #4 Debt-to-Equity Ratio
  362 (1)
  Ratio #5 Quick Ratio
  362 (1)
  Ratio #6 Current ratio
  362 (2)
  In Review
  364 (1)
  Businesses Discussed in This
Chapter
  364 (1)
  Key Terms
  364 (3)
  Chapter 18 Financial Management
  367 (26)
  Financial Management Overview
  369 (4)
  Three Types of Financial Management Decisions
  369 (1)
  Financial Management Functions
  370 (1)
  Estimate Required Capital
  370 (1)
  Determine Capital Structure
  370 (1)
  Evaluate and Select Sources of Funds
  371 (1)
  Allocate and Control Funds
  371 (1)
  Distribute Profits or Surplus
  371 (1)
  Monitoring Financial Activities
  371 (1)
  How Financial Management Is Different From Accounting
  372 (1)
  The Role of a CFO in a Business
  372 (1)
  Differences Between CFOs and Controllers
  373 (1)
  Financial Planning
  373 (4)
  Equity and Debt Financing
  377 (8)
  Equity Financing
  377 (1)
  Stages of Equity Financing for Business Startups
  378 (1)
  Forms of Early-Stage Equity Financing
  378 (2)
  Debt Financing
  380 (1)
  Types of Business Loans
  381 (1)
  Business Term Loan
  381 (1)
  Commercial Mortgage
  382 (1)
  Equipment Lease
  382 (1)
  Line of Credit
  382 (1)
  Business Credit Cards
  382 (1)
  SBA Loans
  382 (1)
  Microloans
  382 (1)
  Paying Back a Business Loan
  383 (2)
  The Cash Conversion Cycle
  385 (1)
  Internal Financial Controls
  386 (2)
  Types of Internal Financial Controls
  386 (1)
  Detective Internal Controls
  387 (1)
  Preventative Internal Controls
  387 (1)
  Corrective Internal Controls
  387 (1)
  In Review
  388 (1)
  Businesses Discussed in This
Chapter
  389 (1)
  Key Terms
  389 (4)
  Appendix A Navigating Legal and IP Issues in Business
  393 (18)
  Legal Considerations
  394 (1)
  Types of Legal Structures
  395 (4)
  Sole Proprietorship
  395 (1)
  General Partnership
  396 (1)
  Limited Liability Company
  397 (1)
  Benefit Corporation
  398 (1)
  Not-for-Profit Entities
  398 (1)
  Intellectual Property (IP)
  399 (3)
  The Four Types of Intellectual Property
  400 (1)
  Copyright
  401 (1)
  Trademark and Service Mark
  401 (1)
  Trade Secret
  401 (1)
  Patent
  401 (1)
  Nondisclosure Agreement
  402 (1)
  Global IP Theft
  402 (2)
  Common IP Traps
  404 (2)
  Publicly Disclosing Your Innovation
  404 (1)
  Failure to Protect Product and Processes
  404 (1)
  Inability to Determine Originality
  405 (1)
  Failure to Assign Ownership
  405 (1)
  Failure to Protect IP in Global Markets
  405 (1)
  Hiring Employees
  406 (3)
  Equal Employment Opportunity
  406 (1)
  Employer Identification Number
  406 (1)
  Unemployment and Workers' Compensation
  406 (1)
  Withholding Taxes
  406 (1)
  Employee Forms
  406 (1)
  Benefits
  407 (1)
  Safety Measures
  407 (1)
  Hiring a Contractor or an Employee?
  407 (2)
  Compensating Employees
  409 (1)
  Compensation in the Form of Equity
  409 (1)
  Unpaid Internships
  409 (1)
  In Review
  409 (1)
  Key Terms
  410 (1)
  Appendix B Putting It All Together
  411 (6)
  The Business Impact Project
  412 (4)
  The Business Impact Slide Deck
  412 (3)
  Researching Your Chosen Company
  415 (1)
  Summary of Deliverable Expectations
  416 (1)
  Business Impact Deck Example
  416 (1)
Glossary   417 (14)
Endnotes   431 (26)
Index   457  
Heidi Neck, PhD, is a Babson College professor and the Jeffry A. Timmons Professor of Entrepreneurial Studies. She is the academic director of the Babson Academy, a dedicated unit within Babson that inspires change in the way universities, specifically their faculty and students, teach and learn entrepreneurship. The Babson Academy builds on Necks work starting the Babson Collaborative, a global institutional membership organization for colleges and universities seeking to increase their capability and capacity in entrepreneurship education, and leading Babsons Symposia for Entrepreneurship Educators (SEE), programs designed to further develop faculty from around the world in the art and craft of teaching entrepreneurship and building entrepreneurship programs. Neck has directly trained more than 3,000 faculty around the world in the art and craft of teaching entrepreneurship.

She has taught entrepreneurship at the undergraduate, MBA, and executive levels. Neck is a past president of the United States Association of Small Business and Entrepreneurship (USASBE), an academic organization dedicated to the advancement of entrepreneurship education. Her research interests include entrepreneurship education, the entrepreneurial mindset, and entrepreneurship inside organizations. An award-winning educator and author, her textbook Entrepreneurship: The Practice and Mindset (2017) was awarded Breakthrough Book of 2017 by SAGE and the 2018 Most Promising New Textbook award by the Textbook & Academic Authors Association.   Neck is the lead author of Teaching Entrepreneurship: A Practice-Based Approach (Elgar), a book written to help educators teach entrepreneurship in more experiential and engaging ways. Additionally, she has published 45+ book chapters, research monographs, and refereed articles. Neck has been recognized for teaching excellence at Babson for undergraduate, graduate, and executive education. She has also been recognized by international organizations the Academy of Management and USASBE for excellence in pedagogy and course design. For pushing the frontiers of entrepreneurship education in higher education, The Schulze Foundation and the Entrepreneur and Innovation Exchange awarded her Entrepreneurship Educator of the Year in 2016.

Dr. Christopher P. Neck is an associate professor of management at Arizona State University, where he held the title University Master Teacher. From 1994 to 2009, he was part of the Pamplin College of Business faculty at Virginia Tech. He received his PhD in management from Arizona State University and his MBA from Louisiana State University. Neck is author or coauthor of 22 books, including Self-Leadership: The Definitive Guide to Personal Excellence (2017, Sage; 2nd ed., 2019); Get a Kick Out of Life: Expect the Best of Your Body, Mind, and Soul at Any Age (2017, Clovercroft); Fit to Lead: The Proven 8-Week Solution for Shaping Up Your Body, Your Mind, and Your Career (2004, St. Martins Press; 2012, Carpenters Sons); Mastering Self-Leadership: Empowering Yourself for Personal Excellence (6th ed., 2013, Pearson); The Wisdom of Solomon at Work (2001, Berrett-Koehler); For Team Members Only: Making Your Workplace Team Productive and Hassle-Free (1997, Amacom Books); and Medicine for the Mind: Healing Words to Help You Soar (4th ed., Wiley, 2012). Neck is also the coauthor of an introductory entrepreneurship textbook, Entrepreneurship (Sage, 2017; 2nd ed., 2020), and an introductory organizational behavior textbook, Organizational Behavior (Sage, 2017; 2nd ed., Sage, 2019).

 

Dr. Necks research specialties include employee/executive fitness, self-leadership, leadership, group decision-making processes, and self-managing teams. He has submitted over 100 publications in the form of books, chapters, and articles in various journals. Some of the outlets in which Necks work has appeared include Organizational Behavior and Human Decision Processes, Journal of Organizational Behavior, Academy of Management Executive, Journal of Applied Behavioral Science, Journal of Managerial Psychology, Executive Excellence, Human Relations, Human Resource Development Quarterly, Journal of Leadership Studies, Educational Leadership, and The Commercial Law Journal.

 

Neck is the deputy editor of the Journal of Leadership and Management. Due to Necks expertise in management, he has been cited in numerous national publications, including the Washington Post, the Wall Street Journal, the Los Angeles Times, the Houston Chronicle, and the Chicago Tribune.

 

Dr. Neck was recently voted a semifinalist (out of 140 nominations) for the prestigious international 2020 Baylor University Cherry Award for Great Teaching. Neck was also the recipient of the 2007 Business Week Favorite Professor Award.

 

Dr. Neck has taught over 60,000 students during his career in higher education. Neck currently teaches a mega section of Management Principles to approximately 900 students at Arizona State University.

Neck was the recipient of the 2020 John W. Teets Outstanding Undergraduate Teaching Award (voted by W. P. Carey students). Neck also received the Order of Omega Outstanding Teaching Award for 2012 awarded to one professor at Arizona State University by the Alpha Lamda chapter of this leadership fraternity. His class sizes at Virginia Tech reached 2,500 students. He received numerous teaching awards during his tenure at Virginia Tech, including the 2002 Wine Award for Teaching Excellence. Also, Neck was the 10-time winner (1996, 1998, 2000, 2002, 2004, 2005, 2006, 2007, 2008, and 2009) of the Students Choice Teacher of the Year Award (voted by the students for the best teacher of the year within the entire university). Some of the organizations who have participated in Necks management development training include GE/Toshiba, Busch Gardens, Clark Construction, the United States Army, Crestar, American Family Insurance, Sales and Marketing Executives International, American Airlines, American Electric Power, W. L. Gore & Associates, Dillards Department Stores, and Prudential Life Insurance. Neck is also an avid runner. He has completed 12 marathons, including the Boston Marathon, New York City Marathon, and the San Diego Marathon. In fact, his personal record for a single long-distance run is 48 miles.



Emma L. Murray completed a bachelor of arts degree in English and Spanish at University College Dublin (UCD) in County Dublin, Ireland. This was followed by a higher diploma (Hdip) in business studies and information technology at the Michael Smurfit Graduate School of Business in County Dublin, Ireland. Following her studies, Emma spent nearly a decade in investment banking before becoming a full-time writer and author.

As a writer, Emma has worked on numerous texts, including business and economics, self-help, and psychology. Within the field of higher education, Emma worked with Dr. Christopher P. Neck and Dr. Jeffery D. Houghton on Management (Wiley, 2013); an introductory entrepreneurship textbook, Entrepreneurship (Sage, 2017; 2nd ed., 2020); and an introductory organizational behavior textbook, Organizational Behavior (2017; 2nd ed., Sage, 2019). She is the author of The Unauthorized Guide to Doing Business the Alan Sugar Way (2010, Wiley-Capstone) and the lead author of How to Succeed as a Freelancer in Publishing (2010, How To Books). She lives in London.