商务学导论（第12版）"
本书是根据中国工商管理本科大纲要求、教学实践进行详细精简的本科英文教材。本书多年来在美国始终是首选的商务学入门教材，几位作者凭借自己丰富的教学经验，并广泛听取来自400多名学者以及很多学生的建议和意见，对其不断进行完善。
本书内容全面，角度新颖，适用对象广，实践指导意义强。书中涵盖了商务趋势、企业所有权、企业管理、人力资源管理、营销和管理财务资源六个部分。既适合用作高等院校相关专业的教科书，也可作为内容全面的学科参考手册供相关领域的管理人员和研究人员使用。
引.言
中国的学生要不要使用英文版的教材，一直有争议。有人认为，我们应该使用自己编写的教材，这样才能更准确地反映我们在课堂上所要表述的观点。用国外的原版教材，有些隔靴搔痒，不能解决中国的实际问题。持不同意见的观点认为，尽管各国在管理体制上有意识、制度、文化等差异，但管理本身是在国际环境下具有共同性的问题。特别是，中国的企业在经济全球化的环境下，需要更多地了解国外的管理理论与现状。在这种情况下，就需要引进一些外版的教材。一则，用于满足我们教学的部分需求；二则，更好地了解外版教材的教学服务体系；三则，为我们的师生创造英语教学的环境。
在进行 2004年本科教指委的工作规划时，我曾特别谈及，要加强对本科教育中教书“育人”、服务于学生的使命的认识，继续优化专业课程设计，扩大精品课程建设，增加专业导向课程，尤其要加强对国际商科与经济管理学科教学进展的研究，并引进最新的教学成果，包括教材及教学资源。这一切都是为了更好地为国家与社会培养更好的人才。
为此，清华大学出版社与美国麦格劳 -希尔教育出版公司的合作，引进出版这套“精编版”的英文工商管理教材，也是体现这一理念。这套教材吸收国际最新教学成果，提供全方位的教学资源，并借助英语的语言媒介，将会大力提升与发展中国工商管理教学水平，提高学生使用英语语言和网络手段获得长久的终身学习的能力和兴趣，进而提高我国工商界的国际竞争力。这是一件具有重大意义的工作。
在讨论引进国际上在工商管理教学的最新成果时，确定了引进本套教材及教学资源的基本格调，即对“国际最新教学成果”的几个共同认识：一是国际上教学技术的进展走到了哪一步，我们就引进到哪一步。二是要注意教学技术的发展给教学及教材带来的影响，我们要借鉴新的教学辅助手段。
最近几年，我在美国授课的过程中，注意到教学网络技术：课程管理系统（ course management system, CMS）。通过这个教学辅助系统，教师可以将所要讲授的课程内容简单地张贴到一个系统化的网页上，包括教学演示文件（ PPT）、章节提要（ Lecture Notes）、在线阅读资料以及问答题、简答题，还有课后大作业等，还可以很简单地开设自己课程的在线论坛（ BBS）。学生在注册后，便成为在线学生，通过该平台与教师交互，完成习题，在线提交作业，在线考试，自动出评测分析报告。这一切是以教师为中心，完全解决了教师对于自己教学内容以及对学生及教学过程的网络化、数字化管理的问题，并可多次复用、异地复用。这个在线学习系统（ BlackBoard，WebCT, eCollege等）不同于国内各高校自己研发的以学籍管理或居于录像、课件的远程教学为中心的校园管理平台，直接解决大学的核心问题：即“大师”们对课程教学内容的管理问题，成为对教师授课最好的在线数字化辅助支持平台。
2004年的春季学期，中国人民大学商学院 247位教师，所有 364门课程全面上线， 2000多名学生在线注册学习，引发了人大商学院一场真正意义上的“教学革命”。教师与学生实现了很好地沟通与互动，学生之间也有了很好地学习讨论的天地。目前，我校商学院的经验，已经成为赛尔毕博支持国内院校教学上线发展的典范，成为 BlackBoard在国内的示范教学网站。
课堂教学同网络平台结合之后，又给教学带来了新的挑战，也给教材和教材的出版商们带来了新的机遇。历史悠久的麦格劳 -希尔教育出版公司积极适应这种挑战，在商科及经管教材的出版上做了战略性的调整 : 即将教材本身做“薄”，出版一批新型的、跨媒介的教材：将研讨性、探索性、展开式的学习内容放到网上，将动态交互性的内容放到网上；印刷版的教材从过去强调各章节内容全面，呈现教学过程、学习环节，转向注重概念性及引导性，展现学习的核心内容。同时，他们将与教材配套的教学资源做得更“全”，将更多的内容上线后全面依托网络，更加动态地呈现教学内容及教学过程；并为不同的教学平台提供完全解决方案，提供跨平台的不同版本的内容“子弹”。无论采用 BlackBoard或 WebCT等平台，教师们都可以从出版商处获得标准的教学资源包，为自己采用的教材轻松搭建课程网站，实现教学的在线革命。
总之，教学在革命，教学的手段也在革命。我们要看到工商管理教学在国际上的各种变化，努力跟上时代的发展变化，使我们的学生真正获得国际水准的教育。为此，我衷心地感谢这批教材的国外作者们，正是他们不懈的教学实践，给我们学科的发展带来源源的活力；同时感谢国内外的出版界人士，感谢他们对教材、教材市场的永恒的追求，不断地帮助我们提升教学的水准；衷心希望这批适应新的教学需要的国际最新教材的出版能抛砖引玉，再次带动整个工商管理教育无论是本科、高职高专教学，还是 MBA、EMBA教学的发展。
子曰：“学而时习之，不亦说乎。”在这场教学革命中，我们有更大的勇气面临新的教学的挑战，将中国的工商管理教育推向世界一流！
徐二明中国人民大学
简明
第 1部分商务趋势：在多变的全球环境中培育企业 1
第 1章动态商务环境下的管理：承担风险，获取收益 1
第 2部分企业所有权：组建小企业 25
第 2章组建企业的方式 25第 3章创业与组建小企业 55
第 3部分企业管理：激励员工为顾客提供满意服务 83
第 4章管理和领导 83第 5章使组织适应当今的挑战 106第 6章生产与运作管理 132
第 4部分人力资源管理：激励员工提供优质产品和服务 155
第 7章员工激励 155第 8章人力资源管理：寻找和留住优秀员工 182
第 5部分营销：制订和实施以顾客为导向的营销计划 214
第 9章营销：帮助消费者购买 214第 10章产品与服务的开发和定价 239第 11章产品的分销 265第 12章采用有效的促销方式 293
第 6部分管理财务资源 317
第 13章了解会计与财务信息 317第 14章财务管理 345第 15章证券市场：融资和投资机会 371第 16章货币、金融机构与美联储 402尾声 427
Gold Standard xvi Prologue: Getting Ready for This Course and Your Career P
PaRT 1
Business Trends: Cultivating a Business in Diverse, Global Environments
1 Taking Risks and Making Profits within the Dynamic Business Environment 1
PaRT 2
Business Ownership: Starting a Small Business
2 How to Form a Business 25
3 Entrepreneurship and Starting a Small Business 55
PaRT 3
Business Management:
Empowering Employees to Satisfy Customers
4 Management and Leadership 83
5 Structuring Organizations for Today’s Challenges 106
6 Production and Operations Management 131
PaRT 4
Management of Human Resources:
Motivating Employees to Produce Quality Goods and Services
7 Motivating Employees 155
8 Human Resource Management: Finding and Keeping the Best Employees 182
PaRT 5
Marketing: Developing and Implementing Customer-Oriented Marketing Plans
9 Marketing: Helping Buyers Buy 214 10 Developing and Pricing Goods and Services 239 11 Distributing Products 265 12 Using Effective Promotions 293
PaRT 6
Managing Financial Resources
13 Understanding accounting and Financial Information 317 14 Financial Management 345
15 Using Securities Markets for Financing and Investing Opportunities 371 16 Money, Financial Institutions, and the Federal Reserve 402
EPILOGUE 427
vi
Gold Standard xvi
PROLOGUE
Getting Ready for This Course and your Career P
Learning the Skills you Need to Succeed Today
and Tomorrow P-1 Using This Course to Prepare for your Career P-2
Assessing your Skills and Personality P-3
Using Professional Business Strategies Right Now P-3 Learning to Behave Like a Professional P-4 Doing your Best in College P-6
Study Hints P-6 Test-Taking Hints P-8 Time Management Hints P-9
Making the Most of the Resources for This Course P-9
Getting the Most from This Text P-11
PaRT 1
Business Trends: Cultivating a Business in Diverse, Global Environments 1
CHAPTER 1
Taking Risks and Making Profits within the Dynamic Business Environment 1
GETTING TO KNOw ANN-MARIE CAMPBELL OF HOME DEPOT 3
Business and Wealth Building 4 Revenues, Profits, and Losses 4 Matching Risk with Profit 4 Standard of Living and Quality of Life 5 Responding to the various Business
Stakeholders 5 Using Business Principles in Nonprofit Organizations 6
The Importance of Entrepreneurs to the Creation of Wealth 7 The Five Factors of Production 7 The Business Environment 9
The Economic and Legal Environment 9 The Technological Environment 10
aDaPTING TO CHANGE UP, UP, aND awaY 12
The Competitive Environment 13 The Social Environment 13 The Global Environment 14
REaCHING BEYOND OUR BORDERS HOLLYwOOD CLIMBS THE GREaT waLL 16
The Evolution of U.S. Business 16 Progress in the agricultural and Manufacturing Industries 16 Progress in Service Industries 17 Your Future in Business 17
aDaPTING TO CHANGE SERvICES ExPaND THE CIRCULaR ECONOMY 19
Summary 19 Career Exploration 21 Critical Thinking 21 Developing Career Skills 22 Putting Principles to Work 22 Video Case: Grubhub and the Dynamic Business
Environment 23 Notes 24
PaRT 2
Business Ownership: Starting a Small Business 25
CHAPTER 2
How to Form a Business 25
GETTING TO KNOw PETER CANCRO, FOUNDER OF JERSEy MIkE’S SUBS 27
Basic Forms of Business Ownership 28 Sole Proprietorships 28
advantages of Sole Proprietorships 28
Disadvantages of Sole Proprietorships 29 Partnerships 30
advantages of Partnerships 31
Disadvantages of Partnerships 32 Corporations 32
vii
MaKING ETHICAL DECISIONS GOOD BUSINESS, BaD KaRMa? 33
advantages of Corporations 34 Disadvantages of Corporations 35 Individuals Can Incorporate 36
aDaPTING TO CHANGE KICKSTaRTING a BENEFIT CORPORaTION 37
S Corporations 37 Limited Liability Companies 38
Corporate Expansion: Mergers and Acquisitions 41 Franchises 42 advantages of Franchises 43 Disadvantages of Franchises 44
SPOTLIGHT ON SMALL BUSINESS UNLOCKING a GROwING FRaNCHISE 45
Diversity in Franchising 45 Home-Based Franchises 46 E-Commerce in Franchising 46 Using Technology in Franchising 47 Franchising in Global Markets 47
Cooperatives 48
Which Form of Ownership Is for you? 48 Summary 49 Career Exploration 51 Critical Thinking 51 Developing Career Skills 51 Putting Principles to Work 52 Video Case: Domino’s Still Rolling in the
Dough 52 Notes 53
CHAPTER 3
Entrepreneurship and Starting a SmallBusiness 55
GETTING TO KNOw TRISTAN WALkER, FOUNDER OF WALkER AND COMPANy 57
The Job-Creating Power of Entrepreneurs in the
United States 58 Why People Take the Entrepreneurial Challenge 58
SPOTLIGHT ON SMALL BUSINESS STUDENT STaRT-UPS 59
what Does It Take to Be an Entrepreneur? 59
Turning Your Passions and Problems into Opportunities 60 Entrepreneurial Teams 61 Entrepreneurship within Firms 61
Micropreneurs and Home-Based Businesses 61 Online Businesses 62 Encouraging Entrepreneurship: what Government
Can Do 64
Getting Started in Small Business 65 Small versus Big Business 66 Importance of Small Businesses 66 Small-Business Success and Failure 66
Learning About Small-Business Operations 68 Learn from Others 68 Get Some Experience 68 Take Over a Successful Firm 68
MaKING ETHICAL DECISIONS SHOULD YOU STaY OR SHOULD YOU GO? 69
Managing a Small Business 69 Planning Your Business 70 Financing Your Small Business 70 Knowing Your Customers 74 Managing Your Employees 74 Keeping Records 75 Looking for Help 75
Going Global: Small-Business Prospects 76 Summary 77 Career Exploration 79 Critical Thinking 79 Developing Career Skills 80 Putting Principles to Work 80 Video Case: Launching a Business: JCF Health and Fitness 80 Notes 81
PaRT 3
Business Management: Empowering Employees to Satisfy Customers 83
CHAPTER 4
Management and Leadership 83
GETTING TO KNOw kEVIN PLANk, FOUNDER OF UNDER ARMOUR 85
Managers’ Roles Are Evolving 86 The Four Functions of Management 86 Planning and Decision Making 88
aDaPTING TO CHANGE wILL STRaTEGY ROBOTS REPLaCE MaNaGERS? 91
Decision Making: Finding the Best alternative 92 Organizing: Creating a Unified System 93
Tasks and Skills at Different Levels of Management 93
CONNECTING THROUGH SOCIAL MEDIA waNT TO BE a SOCIaL MEDIa MaNaGER? 95
Staffing: Getting and Keeping the Right People 95
Leading: Providing Continuous Vision and Values 96
MaKING ETHICAL DECISIONS wHaT DO YOU TELL THE TEaM? 97
Leadership Styles 97 Empowering workers 98 Managing Knowledge 99
Controlling: Making Sure It Works 99
a Key Criterion for Measurement: Customer Satisfaction 100 Summary 101
Career Exploration 103 Critical Thinking 103 Developing Career Skills 104 Putting Principles to Work 104 Video Case: Zappos’s Team Approach 104 Notes 105
CHAPTER 5
Structuring Organizations for Today’s Challenges 106
GETTING TO KNOw DENISE MORRISON, CEO OF CAMPBELL SOUP COMPANy 107
Organizing for Success 108 Building an Organization from the Bottom Up 108
MaKING ETHICAL DECISIONS wOULD YOU SaCRIFICE SaFETY FOR PROFITS? 109
The Changing Organization 109 The Development of Organizational Design 109 Turning Principles into Organizational Design 111
Decisions to Make in Structuring
Organizations 112 Choosing Centralized or Decentralized authority 113
Choosing the appropriate Span of Control 113
Choosing between Tall and Flat Organizational Structures 113 weighing the advantages and Disadvantages of
Departmentalization 114
Organizational Models 117 Line Organizations 117 Line-and-Staff Organizations 117 Matrix-Style Organizations 118
aDaPTING TO CHANGE GOING BOSSLESS 120
Cross-Functional Self-Managed Teams 120 Going Beyond Organizational Boundaries 120 Managing the Interactions among Firms 121 Transparency and virtual Organizations 121 Adapting to Change 122 Restructuring for Empowerment 123
CONNECTING THROUGH SOCIAL MEDIA BREaKING THE CONNECTION 124
Creating a Change-Oriented Organizational Culture 124 Managing the Informal Organization 125 Summary 126 Career Exploration 127 Critical Thinking 127 Developing Career Skills 128 Putting Principles to Work 128 Video Case: Freshii’s Winning Organization 129 Notes 130
CHAPTER 6
Production and OperationsManagement 131
GETTING TO KNOw SHAHID kHAN, CEO OF FLEx-N-GATE 133
Manufacturing and Services in Perspective 134 Manufacturers and Service Organizations Become More Competitive 134
REaCHING BEYOND OUR BORDERS CREaTING SKILLED wORKERS wITH GERMaN-STYLE aPPRENTICESHIPS 135
From Production to Operations Management 135 Operations Management in the Service Sector 136
Production Processes 137 The Need to Improve Production Techniques and Cut Costs 138
Computer-aided Design and Manufacturing 138 Flexible Manufacturing 138 Lean Manufacturing 139 Mass Customization 139 Robotics 139 3D Printing 140 Using Sensing, Measurement, and Process
Control 140 Operations Management Planning 140 Facility Location 140
aDaPTING TO CHANGE THE vaST POSSIBILITIES OF 3D PRINTING 141
Facility Location for Manufacturers 141
MaKING ETHICAL DECISIONS SHOULD wE STaY OR SHOULD wE GO? 142
Interfirm Operations Management 142 Facility Location in the Future 143 Facility Layout 143 Materials Requirement Planning 143 Purchasing 145 Just-in-Time Inventory Control 145 Quality Control 145 The Baldrige awards 146 ISO 9001 and ISO 14001 Standards 146
Control Procedures: PERT and Gantt Charts 147 Preparing for the Future 148 Summary 149 Career Exploration 151 Critical Thinking 152 Developing Career Skills 152 Putting Principles to Work 152 Video Case: Production in the 21st Century 153 Notes 154
PaRT 4
Management of Human Resources:
Motivating Employees to Produce Quality Goods and Services 155
CHAPTER 7
Motivating Employees 155
GETTING TO KNOw kIM JORDAN, CEO OF NEW BELGIUM BREWING COMPANy 157
The Value of Motivation 158
Frederick Taylor: The “Father” of Scientific Management 158 Elton Mayo and the Hawthorne Studies 159
Motivation and Maslow’s Hierarchy of Needs 160 Herzberg’s Motivating Factors 161 Mcgregor’s Theory x and Theory y 163 Theory x 164 Theory Y 164 Ouchi’s Theory Z 165
Goal-Setting Theory and Management by
Objectives 166 Meeting Employee Expectations: Expectancy Theory 167
Treating Employees Fairly: Equity Theory 167 Putting Theory into Action 168 Motivating through Job Enrichment 168 Motivating through Open Communication 169 applying Open Communication in Self-Managed Teams 170 Recognizing a Job well Done 170
aDaPTING TO CHANGE EMPLOYEE ENGaGEMENT’S MOOD RING 171
Personalizing Motivation 172 Motivating Employees across the Globe 172 Motivating Employees across Generations 172
CONNECTING THROUGH SOCIAL MEDIA THREE CHEERS FOR PEERS! 174
Summary 175 Career Exploration 178 Critical Thinking 178 Developing Career Skills 178 Putting Principles to Work 179 Video Case: Appletree Answers 179 Notes 180
CHAPTER 8
Human Resource Management: Findingand keeping the Best Employees 182
GETTING TO KNOw HAMDI ULUkAyA, FOUNDER AND CEO OF CHOBANI 183
Working with People Is Just the Beginning 184 Developing the Ultimate Resource 185 The Human Resource Challenge 185
Laws Affecting Human Resource
Management 186 Laws Protecting Employees with Disabilities and Older Employees 188
Effects of Legislation 188
Determining a Firm’s Human Resource
Needs 189 Recruiting Employees From a Diverse Population 190
CONNECTING THROUGH SOCIAL MEDIA NEED a JOB? 192
Selecting Employees Who Will Be Productive 192
CONNECTING THROUGH SOCIAL MEDIA LET’S FaCE IT 194
Hiring Contingent workers 194
Training and Developing Employees for Optimum Performance 195
MaKING ETHICAL DECISIONS INTERN OR INDENTURED SERvaNT? 196
Management Development 197
Networking 198
Diversity in Management Development 198
Appraising Employee Performance to Get
Optimum Results 199 Compensating Employees: Attracting and keeping the Best 200
Pay Systems 200
Compensating Teams 200
Fringe Benefits 202
REaCHING BEYOND OUR BORDERS MaNaGING a GLOBaL wORKFORCE 203
Scheduling Employees to Meet Organizational and Employee Needs 203
Flextime Plans 203
Home-Based work 204
Job-Sharing Plans 206 Moving Employees Up, Over, and Out 206
Promoting and Reassigning Employees 206
Terminating Employees 206
Retiring Employees 207
Losing valued Employees 207
Summary 208
Career Exploration 210
Critical Thinking 210
Developing Career Skills 211
Putting Principles to Work 211
Video Case: Teach for America 211
Notes 212
PaRT 5
Marketing: Developing and Implementing Customer-Oriented Marketing Plans 214
CHAPTER 9
Marketing: Helping Buyers Buy 214
GETTING TO KNOw MICHELLE PHAN, FOUNDER OF IPSy 215
What Is Marketing? 216
The Evolution of Marketing 217
CONNECTING THROUGH SOCIAL MEDIA SNaPPING UP a CUSTOMER BaSE 218
Nonprofit Organizations and Marketing 219
The Marketing Mix 219 applying the Marketing Process 220 Designing a Product to Meet Consumer Needs 221 Setting an appropriate Price 222 Getting the Product to the Right Place 222 Developing an Effective Promotional Strategy 222
Providing Marketers with Information 223 The Marketing Research Process 223
The Marketing Environment 225 Global Factors 225 Technological Factors 225 Sociocultural Factors 225 Competitive Factors 226 Economic Factors 226
SPOTLIGHT ON SMALL BUSINESS CREaTING MaSS aPPEaL FOR a CUSTOM PRODUCT 227
Two Different Markets: Consumer and Business-to-Business (B2B) 227 The Consumer Market 228 Segmenting the Consumer Market 228 Reaching Smaller Market Segments 230 Building Marketing Relationships 230 The Consumer Decision-Making Process 230 The Business-to-Business Market 231
aDaPTING TO CHANGE BUILDING RELaTIONSHIPS BY BUILDING SUBSCRIBERS 232
your Prospects in Marketing 233 Summary 234 Career Exploration 235 Critical Thinking 236 Developing Career Skills 236 Putting Principles to Work 236 Video Case: Dunkin’ Donuts and the 4 Ps 237 Notes 237
CHAPTER 10
Developing and Pricing Goods andServices 239
GETTING TO KNOw ANTHONy kATZ, FOUNDER OF HyPERICE 241
Product Development and the Total Product Offer 242
CONNECTING THROUGH SOCIAL MEDIA PLaYING wITH THE SOCIaL GaMING STaRS 243
Distributed Product Development 243 Product Lines and the Product Mix 244 Product Differentiation 244
Marketing Different Classes of Consumer Goods and Services 245 Marketing Industrial Goods and Services 246
Packaging Changes the Product 248 The Growing Importance of Packaging 248
MaKING ETHICAL DECISIONS NaTURaL GOODS: REaLLY FROM NaTURE? 249
Branding and Brand Equity 249
REaCHING BEYOND OUR BORDERS PLaYING THE NaME GaME 250
Brand Categories 250 Generating Brand Equity and Loyalty 251 Creating Brand associations 251 Brand Management 252
The New-Product Development Process 252 Generating New-Product Ideas 252 Product Screening 253 Product analysis 253 Product Development and Testing 253 Commercialization 253
SPOTLIGHT ON SMALL BUSINESS MaDE BY MOMMY 254
The Product Life Cycle 254 Example of the Product Life Cycle 254 Using the Product Life Cycle 255
Competitive Pricing 255 Pricing Objectives 257 Cost-Based Pricing 257 Demand-Based Pricing 258 Competition-Based Pricing 258 Break-Even analysis 258 Other Pricing Strategies 258 How Market Forces affect Pricing 259
Nonprice Competition 259 Summary 260 Career Exploration 262 Critical Thinking 262 Developing Career Skills 262 Putting Principles to Work 263 Video Case: Developing New Products at Domino’s 263 Notes 264
CHAPTER 11
Distributing Products 266
GETTING TO KNOw TONy MCGEE, PRESIDENT AND CEO OF HNM GLOBAL LOGISTICS 267
The Emergence of Marketing Intermediaries 268 why Marketing Needs Intermediaries 268
SPOTLIGHT ON SMALL BUSINESS wHaT waS MINE IS NOw YOURS 269
How Intermediaries Create Exchange Efficiency 269 The value versus the Cost of Intermediaries 269 The Utilities Created by Intermediaries 272 Form Utility 272
CONNECTING THROUGH SOCIAL MEDIA I’M LOvIN’ aLL-DaY EGG MCMUFFINS 273
Time Utility 273 Place Utility 273 Possession Utility 274 Information Utility 274 Service Utility 274
Wholesale Intermediaries 275 Merchant wholesalers 275 agents and Brokers 275
Retail Intermediaries 276 Retail Distribution Strategy 277
Online Retailing and other Nonstore Retailing 277 Online Retailing 277 Telemarketing 278 vending Machines, Kiosks, Carts, and Pop-Ups 278 Direct Selling 279 Multilevel Marketing 279 Direct Marketing 279 Building Cooperation in Channel Systems 280 Corporate Distribution Systems 280 Contractual Distribution Systems 280 administered Distribution Systems 280 Supply Chains 281
Logistics: Getting Goods to Consumers Efficiently 282
aDaPTING TO CHANGE ONLINE GROCERY SHOPPING 283
Trains are Great for Large Shipments 283
Trucks are Good for Small Shipments to Remote Locations 284 water Transportation Is Inexpensive but Slow 284 Pipelines are Fast and Efficient 285 air Transportation Is Fast but Expensive 285 Intermodal Shipping 285 The Storage Function 285
Tracking Goods 286 What All This Means to your Career 286
Summary 287
Career Exploration 289
Critical Thinking 289
Developing Career Skills 289
Putting Principles to Work 290
Video Case: FedEx 290
Notes 291
CHAPTER 12
Using Effective Promotions 293
GETTING TO KNOw MICHAEL DUBIN, COFOUNDER AND CEO OF DOLLAR SHAVE CLUB 295
Promotion and the Promotion Mix 296 Advertising: Informing, Persuading, and Reminding 297
Television advertising 298
Product Placement 299
CONNECTING THROUGH SOCIAL MEDIA HOw SOCIaL MEDIa MOvE Tv RaTINGS 300
Infomercials 300
Online advertising 300
Social Media advertising 301
Global advertising 301
REaCHING BEYOND OUR BORDERS OREO: wORLD’S FavORITE COOKIE? 302
Personal Selling: Providing Personal Attention 302
Steps in the Selling Process 302
The Business-to-Consumer Sales Process 304 Public Relations: Building Relationships 305
Publicity: The Talking arm of PR 306
Sales Promotion: Giving Buyers Incentives 306 Word of Mouth and Other Promotional Tools 308
Social Networking 308
Blogging 309
Podcasting 309
E-Mail Promotions 309
Mobile Marketing 309
Managing the Promotion Mix: Putting It all Together 309
aDaPTING TO CHANGE OUTDOOR “EYES” aRE PULLING YOU IN 310
Promotional Strategies 310 Summary 311 Career Exploration 312 Critical Thinking 313 Developing Career Skills 313 Putting Principles to Work 313 Video Case: SxSW 314 Notes 315
PaRT 6
Managing Financial Resources 317
CHAPTER 13
Understanding Accounting and Financial Information 317
GETTING TO KNOw SHELLy SUN, CEO OF BRIGHTSTAR CARE 319
The Role of Accounting Information 320
what Is accounting? 320 The Accounting Cycle 320
Using Technology in accounting 322 Understanding key Financial Statements 323
The Fundamental accounting Equation 323
The Balance Sheet 324
Classifying assets 324
Liabilities and Owners’ Equity accounts 326
The Income Statement 327
Revenue 327
Cost of Goods Sold 328
SPOTLIGHT ON SMALL BUSINESS OUT wITH THE OLD; IN wITH THE NEw 329
Operating Expenses 329
Net Profit or Loss 330
The Statement of Cash Flows 330
The Need for Cash Flow analysis 330
MaKING ETHICAL DECISIONS wHEN YOU aRE JUDGE aND JURY! 332
Analyzing Financial Performance Using Ratios 332
Liquidity Ratios 333
Leverage (Debt) Ratios 333
Profitability (Performance) Ratios 334
activity Ratios 334 Accounting Disciplines 336
Financial accounting 336
Managerial accounting 337 auditing 337
Tax accounting 337
aDaPTING TO CHANGE aCCOUNTING: CSI 338
Government and Not-for-Profit accounting 338
REaCHING BEYOND OUR BORDERS THE wIDE, wIDE wORLD OF aCCOUNTING 339
Summary 340 Career Exploration 341 Critical Thinking 342 Developing Career Skills 342 Putting Principles to Work 342 Video Case: The Accounting Function at Goodwill
Industries 343
Notes 343
CHAPTER 14
Financial Management 345
GETTING TO KNOw kATHy WALLER, ExECUTIVE VICE PRESIDENT AND CFO OF COCA-COLA 347
The Role of Finance and Financial Managers 348 The Value of Understanding Finance 349
what Is Financial Management? 350
Financial Planning 350 Forecasting Financial Needs 350 working with the Budget Process 351 Establishing Financial Controls 352
The Need for Operating Funds 354 Managing Day-by-Day Needs of the Business 354 Controlling Credit Operations 354
MaKING ETHICAL DECISIONS NOT wHaT THE DOCTOR ORDERED! 355
acquiring Needed Inventory 355 Making Capital Expenditures 355 alternative Sources of Funds 356
Obtaining Short-Term Financing 356 Trade Credit 357 Family and Friends 357 Commercial Banks 357 Different Forms of Short-Term Loans 358 Factoring accounts Receivable 358
aDaPTING TO CHANGE FINaNCING JUST a CLICK awaY 359
Commercial Paper 359 Credit Cards 360 Obtaining Long-Term Financing 360 Debt Financing 361
Equity Financing 361
Comparing Debt and Equity Financing 362
Lessons Learned from the Financial Crisis and Great
Recession 363
SPOTLIGHT ON SMALL BUSINESS LOOKING FOR a SLaM DUNK 364
Summary 365
Career Exploration 367
Critical Thinking 367
Developing Career Skills 367
Putting Principles to Work 368
Video Case: Starting Up: Tom and Eddie’s 368
Notes 369
CHAPTER 15
Using Securities Markets for Financing andInvesting Opportunities 371
GETTING TO KNOw JIM CRAMER, HOST OF CNBC’S Mad Money 373
The Function of Securities Markets 374 The Role of Investment Bankers 375 Stock Exchanges 375
CONNECTING THROUGH SOCIAL MEDIA JOBS aCT RULES CROwDINvESTING 376
Securities Regulations and the Securities and Exchange Commission 377 Foreign Stock Exchanges 377
How Businesses Raise Capital by Selling
Stock 378 advantages and Disadvantages of Issuing Stock 379
Issuing Shares of Common Stock 379 Issuing Shares of Preferred Stock 379
How Businesses Raise Capital by Issuing Bonds 380
Learning the Language of Bonds 380 advantages and Disadvantages of Issuing Bonds 381
Different Classes of Bonds 382 Special Bond Features 382 How Investors Buy Securities 383 Investing through Online Brokers 383
aDaPTING TO CHANGE R2-D2 TO THE INvESTOR’S RESCUE 384
Choosing the Right Investment Strategy 384
MaKING ETHICAL DECISIONS MONEY GOING UP IN SMOKE 385
Reducing Risk by Diversifying Investments 385
Investing in Stocks 386 Stock Splits 386 Buying Stock on Margin 387 Understanding Stock Quotations 387
Investing in Bonds 388 Investing in High-Risk (Junk) Bonds 389
Investing in Mutual Funds and Exchange-Traded Funds 389 Understanding Stock Market Indicators 391 Riding the Market’s Roller Coaster 392 Summary 395 Career Exploration 397 Critical Thinking 398 Developing Career Skills 398 Putting Principles to Work 399 Video Case: Where Did All My Money Go? 399 Notes 400
CHAPTER 16
Money, Financial Institutions, and the Federal Reserve 402
GETTING TO KNOw JANET yELLEN, CHAIR OF THE FEDERAL RESERVE 403 Why Money Is Important 404
what Is Money? 404 aDaPTING TO CHANGE SaYING GOODBYE TO BEN FRaNKLIN 406
Managing Inflation and the Money Supply 407
The Global Exchange of Money 407
Control of the Money Supply 407
Basics about the Federal Reserve 408
The Reserve Requirement 408
Open-Market Operations 409
The Discount Rate 409
The Federal Reserve’s Check-Clearing Role 410 The History of Banking and the Need for the Fed 411
Banking and the Great Depression 412 The U.S. Banking System 412
Commercial Banks 413
Services Provided by Commercial Banks 413
Services to Borrowers 413
MaKING ETHICAL DECISIONS aN OPEN aND SHUT OPTION 414
CONTENTS xv
Savings and Loan associations (S&Ls) 414 Credit Unions 414 Other Financial Institutions (Nonbanks) 414
The Banking Crisis and How the Government Protects your Money 415
SPOTLIGHT ON SMALL BUSINESS BECOMING YOUR BEST FRIEND IN BaNKING 416
Protecting Your Funds 417
The Federal Deposit Insurance Corporation (FDIC) 417 The Savings association Insurance Fund
(SaIF) 417 The National Credit Union administration (NCUa) 417
Using Technology to Make Banking More Efficient 417 Online Banking 418
International Banking and Banking Services 419
Leaders in International Banking 419 The world Bank and the International Monetary Fund 419
REaCHING BEYOND OUR BORDERS NEw DaY, NEw ISSUES aCROSS THE GLOBE 420
Summary 421 Career Exploration 423 Critical Thinking 423 Developing Career Skills 424 Putting Principles to Work 424 Video Case: The Financial Crisis 425 Notes 425
EPILOGUE
Getting the Job you Want 427
Job Search Strategy 429 Searching for Jobs Online 431 Job Search Resources 432 writing Your Résumé 433 Putting Your Résumé Online 434 writing a Cover Letter 435 Preparing for Job Interviews 438 Being Prepared to Change Careers 441
威廉·尼克尔斯，马里兰大学帕克分校商学院副教授，美国西储大学企业管理硕士，俄亥俄州立大学博士，教学经验超过30年，四度获颁“杰出教师奖”。
