Chapter 1 Setting Up a Business 1
Sole Proprietorship 1
Partnership 3
Corporation 5
A Special Form: Franchising 8
Chapter 2 Marketing: an Overview 14
The Origin of Marketing 14
The Functions of Marketing 15
The Marketing Mix 16
Market Segmentation 17
Chapter 3 Products and Pricing 22
Types of Products 22
Product Life Cycle 24
Pricing 25
Chapter 4 Channels of Distribution 33
Common Channels of Distribution 33
The Cost and Value of Middlement 35
Physical Distribution 36
Modes of Transportation 37
Chapter 5 Promotion 42
Advertising 42
Do It Yourself or Use an Advertising Agency 44
Personal Selling 45
Sales Promotion 46
Public Relations and Publicity 47
Word of Mouth 47
What Is Money? 52
Chapter 6 Money and Banking 52
What Does Money Do? 53
Types of Money 54
The Financial System 56
Savings and Loan Associations 57
Money Supply and the Federal Reserve System 58
Chapter 7 Financing 64
Short-term Financing 64
Long-term Sources of Funds 67
Debt or Equity Financing 69
Features of Bonds 69
Features of Stock 70
Balance Sheet 76
Chapter 8 Accounting 76
Income Statement 80
Chapter 9 The Securities Market 87
Primary and Secondary Markets 87
Buying and Selling Stocks 88
Bulls and Bears 88
The Bond Market 88
Who Buy Securities? 89
Chapter 10 Risk Management and Insurance 95
Approaches to Managing Business Risks 95
Insurance and Its Principles 97
Insurable Risks 98
Insurance for Business 99
Fidelity and Surety Bonds 104
Types of Law 108
Chapter 11 Business Law 108
Contract Law 109
Tort Law 111
Property Law 112
Warranty 114
Negotiable Instruments 114
Agency Law 116
Business Bankruptcy 117
Chapter 12 International Business 122
Why Trade with Other Countries? 122
Other Ways to Go Global 124
Special Issues in International Business 127
Management Functions 138
Chapter 13 Managing Business Enterprises 138
Management Levels and Skills 140
Sources of Managers 141
The Building Blocks of Organizational Structure 143
Organizational Decision Making 144
Organizational Structures 147
Informal Organization 151
The Strategic Management Process 151
Chapter 14 Human Resources Management 157
Planning for Human Resources 157
Staffing 159
Training and Developing Employees 162
Demoting and Terminating Employees 164
Compensating Employees 165
The Classical Theory 171
Chapter 15 Motivation and Leadership 171
The Hawthorne Studies 172
Maslow s Hierarchy of Human Needs 173
Herzberg s Two-factor Theory 174
McGregor s Theory X and Theory Y 175
Ouchi s Theory Z 176
Strategies for Motivating Employees 177
Leadership 182
Chapter 16 Managing Information 188
Information vs. Data 188
How Computers Work? 189
Application Programs 193
The Management Information System (MIS) 196
Factors of Producation 203
Chapter 17 The Environment and Responsibilities 203
Types of Economic System 204
Economic Goals and How to Measure Their Attainment 207
The Roles of Government 210
The Market and Competition 213
The Importance of Profits 215
The Responsibility of Business 216
Chapter 18 Careers in Business 224
Self-evaluation 224
Career Opportunities in Business 227
Successful Job Hunting 233
Key to Exercises of Cloze and Scrambled Sentences 243
Key to Translation 251
References 263