Chapter 1 Setting Up a Business 1
Sole Proprietorship 1
Partnership 3
Corporation 4
S Corporation and Limited Liability Company 7
A Special Form:Franchising 7
Exercises 8
Chapter 2 Marketing:An Overview 13
Origin of Marketing 13
Functions of Marketing 14
Marketing Mix 15
Marketing Environment 15
Market Segmentation 16
Exercises 17
Chapter 3 Products and Pricing 21
Types of Products 21
Development of New Products 22
Product Life Cycle 23
Pricing 23
Exercises 28
Chapter 4 Channels of Distribution 33
Common Channels of Distribution 33
The Cost and Value of Intermediaries 36
Physical Distribution 37
Exercises 38
Chapter 5 Promotion 43
Advertising 43
Personal Selling 45
Sales Promotion 46
Public Relations and Publicity 47
Word of Mouth 47
Exercises 48
Chapter 6 Money and Banking 53
What Is Money? 53
What Does Money Do? 54
Types of Money 55
The Financial System 56
Money Supply and the Federal Reserve System 58
Exercises 60
Chapter 7 Financing 63
Short-term Financing 63
Long-term Sources of Funds 65
Debt or Equity Financing? 67
Features of Bonds 67
Features of Stock 68
Exercises 69
Chapter 8 Accounting 73
Balance Sheet 73
Income Statement 76
Exercises 79
Chapter 9 The Securities Market 83
Primary and Secondary Markets 83
Buying and Selling Stocks 83
Bulls and Bears 84
The Bond Market 84
Who Buy Securities? 84
Exercises 87
Chapter 10 Risk Management and Insurance 91
Approaches to Managing Business Risks 91
Insurance and Its Principles 92
Insurable Risks 94
Insurance for Business 94
Fidelity and Surety Bonds 98
Exercises 99
Chapter 11 Business Law 103
Types of Law 103
Contract Law 104
Tort Law 105
Property Law 106
Warranty 108
Negotiable Instruments 108
Agency Law 109
Business Bankruptcy 110
Exercises 111
Chapter 12 International Business 115
Why Trade with Other Countries? 115
OtherWays to Go Global 117
Special Issues in International Business 120
Exercises 125
Chapter 13 Managing Business Enterprises 129
Management Functions 129
Management Levels and Skills 130
Sources of Managers 132
The Building Blocks of Organizational Structure 133
Organizational Decision Making 134
Organizational Structures 136
Informal Organization 139
The Strategic Management Process 140
Exercises 141
Chapter 14 Human Resources Management 145
Planning for Human Resources 145
Staffing 146
Training and Developing Employees 149
Demoting and Terminating Employees 151
Compensating Employees 151
Exercises 153
Chapter 15 Motivating and Leading Employees 157
The Classical Theory 157
The Hawthorne Studies 158
Maslow's Hierarchy of Human Needs 158
Herzberg's Two-factor Theory 160
McGregor's Theory X and Theory Y 160
Vroom's Expectancy Theory 161
Strategies for Motivating Employees 161
Leadership 165
Exercises 167
Chapter 16 Information Management 171
Information vs.Data 171
What Is Information Technology? 172
How Information Technology Helps Business 172
The Tangible Technology:Hardware 173
The Intangible but Crucial:Software 173
Application Programs 174
Network 176
The Management Information System(MIS) 177
MIS and Managers 177
MIS and the Management as a Whole 178
Security Issues 179
Exercises 180
Chapter 17 The Environment and Responsibilities 185
Factors of Production 185
Types of Economic System 186
Economic Goals and How to Measure Their Attainment 188
The Roles of Government 191
The Market and Competition 193
The Importance of Profits 195
The Responsibility of Business 196
Exercises 198
Chapter 18 Careers in Business 203
Self-evaluation 203
Career Opportunities in Business 205
Successful Job Hunting 210
Exercises 215
Appendix A key to Exercises of Cloze and Scrambled Sentences 219
Appendix B Key to Translation and Discussion 227
Appendix C References 239