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Business Essentials (7th Edition), by Ronald J. Ebert, Ricky W. Griffin
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This best-selling book continues to present a brief “no-nonsense ” approach to the fundamentals of business that spans the range of all functional areas— management, marketing, operations, accounting, information systems, finance, and legal studies. Topics comprehensively covered include: the contemporary business environment; the business of managing; principles of marketing; managing information; people in organizations; and financial issues. An excellent reference resource for business managers and executives; also appropriate for entrepreneurs and others involved in business relations.
- Sales Rank: #632162 in Books
- Brand: Brand: Prentice Hall
- Published on: 2008-10-02
- Original language: English
- Number of items: 1
- Dimensions: 10.76" h x .41" w x 8.50" l, 1.40 pounds
- Binding: Paperback
- 312 pages
Features
- Used Book in Good Condition
From the Back Cover
This best-selling book presents a brief “no-nonsense” approach to the fundamentals of business which spans the range of all functional areas—management, marketing, operations, accounting, information systems, finance, and legal studies. A six-part organization introduces readers to the basics of the business system in the U.S.; addresses the management side of business; looks at human resources, marketing, and the way business manage information for both internal users and for reporting to external constituents; and finally, presents the financial elements of business. For anyone preparing for a business career in the third millennium.
About the Author
Ronald J. Ebert is Emeritus Professor at the University of Missouri-Columbia where he lectures in the Management Department and serves as advisor to students and student organizations. Dr. Ebert draws upon more than 30 years of teaching experience at such schools as Sinclair College, University of Washington, University of Missouri, Lucian Blaga University of Sibiu (Romania), and Consortium International University (Italy). His consulting alliances include such firms as Mobay Corporation, j Kraft Foods, Oscar Mayer, Atlas Powder, and John Deere. He has designed and conducted management development programs for such diverse clients as the American Public Power Association, the United States Savings and Loan League, and the Central Missouri Manufacturing Training Consortium.
His experience as a practitioner has fostered an advocacy for integrating concepts f with best business practices in business education. The five business books he has written include translations in Spanish, Chinese, Malaysian, and Romanian languages. Dr. Ebert has served as the editor of the Journal of Operations Management. He is a past-president and fellow of the Decision Sciences Institute. He has served as consultant and external evaluator for Quantitative Reasoning for Business Studies an introduction-to-business project sponsored by the National Science Foundation.
Ricky W. Griffin is Distinguished Professor of Management and holds the Blocker Chair in Business in the Mays School of Business at Texas A&M University. He also currently serves as executive associate dean. He previously served as Head of the Department of Management and as director of the Center for Human Resource Management at Texas A&M. His research interests include workplace aggression and violence, executive skills and decision making, and workplace culture. Dr. Griffin's research has been published in such journals as Academy of Management Review, Academy of Management Journal, Administrative Science Quarterly, and Journal of Management. He has also served as editor of Journal of Management. Dr. Griffin has consulted with such organizations as Texas Instruments, Tenneco, Amoco, Compaq Computer, and Continental Airlines.
Dr. Griffin has served the Academy of Management as chair of the organizational behavior division. He has also served as president of the southwest division of the Academy of Management and on the Board of Directors of the Southern Management Association. He is a fellow of both the Academy of Management and the Southern Management Association. He is also the author of several successful textbooks, each of which is a market leader. In addition, they are widely used in dozens of countries and have been translated into numerous foreign languages, including Spanish, Polish, Malaysian, and Russian.
Excerpt. � Reprinted by permission. All rights reserved.
One way a textbook, or any successful product, succeeds in the long term is by close reevaluation on a regular basis and attention to market feedback. Based upon our market observations and your suggestions, we've streamlined Business Essentials to 15 chapters, organized into 6 parts, plus 2 appendixes. This streamlined organization should make the material even more manageable for both semester and quarter courses. The strengths that have made it the market bestseller continue:
- Cutting edge
- Current
- Succinct
- Price sensitive
What's new ... New! IT'S A WIRED WORLD
In each chapter, boxes titled "It's a Wired World" offer brief real-world examples of steps established businesses are taking to keep pace with both new and old competitors in the e-business environment.
New! WEB Connection
Each chapter contains a new feature called "WEB Connection" that relates the Internet to the chapter's topics. The WEB Connection includes a real company's URL, screen shot, description of the company's mission, and an Action Challenge posted on the companion Web site for the book.
New! Exercising Your Ethics
To bring ethics to the forefront, we've introduced a new end-of-chapter feature, "Exercising Your Ethics," to motivate students to resolve an ethical situation. Each dilemma includes a description of the situation and then concludes with student questions that focus on how to approach and resolve an ethical challenge.
New! Video Cases and Exercise
The fourth edition of Business Essentials includes a brand new video library. Each chapter now concludes with an engaging video exercise that puts chapter concepts into a dramatic real business context. Each video exercise asks students to analyze an interesting real company and includes discussion questions and assignment material.
Hallmark Strengths! Fully Updated! New! Two Part Case Vignettes
To engage students in real-life business situations, each chapter opens with a compelling vignette describing how an individual or organization has responded to an opportunity or challenge.
The story continues...
The story is then revisited at the end of the chapter, where it concludes with more information and follow-up questions tailored to help students analyze the case, either on their own or in class as a group activity. All vignettes have all been fully updated to keep current.
End-of Chapter Activities Fully Updated Exploring the Web Exercises.
In these exercises, students are directed to the Internet and given hands-on activities designed to enhance their understanding of important chapter topics.
BuildingYour Business Skills These popular end-of-chapter exercises consist of activities that allow students to apply their knowledge and critical thinking skills to an extended problem drawn from a wide range of realistic business experiences. Each of these exercises has been specifically designed to satisfy the general criteria laid out in the Secretary of Labor's Commission of Achieving Necessary Skills (SCANS) requirements. Crafting Your Business Plan Exercises
These chapter-ending exercises have been streamlined to make it easier for students to grasp and complete quickly. Students examine sample plans from a variety of businesses using the Windows-based Business Plan Pro 4.0 software. Students and instructors can also take the exercises further if they choose because this powerful educational version also allows students to begin creating their own professional business plans with step-by-step instructions. Version 4.0 allows planners to publish plans to a protected Internet site, where students can access all or part of posted plans. The educational version of the best-selling Business PlanPro Software can be packaged with the text for a nominal additional cost of $10.00.
Contemporary Themes Integrated Throughout the Text Greater Attention on Business-to-Business Relationships
Although many students and observers of business are familiar with business-to-consumer transactions, they are less aware of the enormous world of business-to-business commerce. To give students more awareness, we have presented examples that reveal the economic significance of B2B relationships throughout the fourth edition. Here are a few examples...
- In Chapter 1 the box entitled "Electronic B2B in Auto Industry" provides a great illustration on B2B transactions and relationships among companies.
- In Chapter 4 in the section entitled "Importance to Big Business," we describe how small businesses buy from and sell to big businesses, a good example of B2B transactions.
- In Chapter 7 the section entitled "Supply Chain Management" describes Dell computer's supply chain and how Dell links its activities to those of its suppliers and shippers.
Successes and Failures with E-business
The enormous number of online startups, as well as the entry into e-commerce of traditional brick-and-mortar firms, continue to have a profound impact on consumers and the worldwide economy. Each chapter includes "It's a Wired World" boxes that show examples of a success or failure on some firm's e-business experience. Plus, throughout the book we discuss requirements the e-business model imposes on employees, workplace behavior, marketing, organizational design, suppliers, and customers. Here are a few examples...
- In Chapter 9, see "Companies Put Web to Work as Recruiter": It shows how several organizations (e.g., DVCi Technologies, U.S. Army, Andersen Consulting) use the Internet for recruiting.
- In Chapter 10, the box entitled "Better Health Through Cyberspace Demographics" shows how Network Health Systems uses online data gathering and data warehousing to help other businesses better manage the health care risks for their employees.
- In Chapter 15, the box entitled "Opening the Portals to Cross-Border Trading" reveals how European stock markets (e.g., Frankfurt, Germany) are using e-technology that allows cross-border stock trading that was not previously feasible.
Supply Chain Management
Supply chains have become a prominent business resource for improving customer service and for increasing the added value as materials move from initial sources to final destinations. Chapter 7, "Managing Operations and Improving Quality," addresses supply chain strategy and explains how supply chain management gets better results for chain members and end consumers.
Growth of International Business
Many business people and observers of the business world see globalization of the economy as the great challenge for this new century. To keep students aware of this challenge, we have based many of the examples, vignettes, and assignments in this book on the experiences of global companies. Chapter 2, "Understanding the Global Context of Business," provides full coverage of this important topic. Here are a few examples...
- In Chapter 5, the section entitled "Setting Strategic Goals" describes strategic goal setting by Volkswagen's CEO for global performance in European and U.S. markets.
- In Chapter 10, the section entitled "The International Marketing Mix" discusses international variations for product, pricing, promotion, and distribution decisions.
- In Chapter 14, the section entitled "The International Payments Process" illustrates the steps in the international flow of funds with an example of payments and transactions for business exchanges between a Greek firm and a U.S. firm.
Significance of Entrepreneurship and Small Business
We recognize that many students will not go to work for large corporations; we have provided balanced coverage of both small and large companies throughout the text. Chapter 4, "Understanding Entrepreneurship and Small Business," is comprehensive. In addition, examples throughout the book deal with small businesses and entrepreneurial actions, and many chapters contain sections that apply specific practices and issues to the special concerns of small business.
Here are a few examples...
- In Chapter 1, the section entitled "Entrepreneurs" discusses James Kimsey and the start-up of AOL, followed by its evolution into a large firm.
- In Chapter 3, the opening vignette for the chapter presents the evolution of Patagonia from its beginnings as a small business.
- In Chapter 10, the section "Small Business and the Marketing Mix" discusses small-business variations for decisions on products, pricing, promotion, and distribution.
Need to Manage Information and Communication Technology.
In our information-based society, the people and organizations who learn how to obtain and use information will succeed. The explosive growth of information systems stems from fast-paced emergence of communications technologies that provide instant and wireless linkages among people and organizations. We cover this important topic in detail in Chapter 12, "Managing Information Systems and Electronic Commerce."
Role of Ethics and Social Responsibility.
Because business ethics and social responsibility have been generating much discussion in recent years, we devote a full chapter to this topic, Chapter 3, "Conducting Business Ethically and Responsibly." We also treat issues of business ethics and social responsibility in our examples and cases. For further insights we have included at the end of each ...
Most helpful customer reviews
14 of 17 people found the following review helpful.
An O-K text, with a few gems.
By Jessica Leung
For your basic introductory business class, this book is good. It offers a lot of vocabulary, and I can see why a lot of people would say the book has no depth since most of the information can be drawn from simply living the real world. (Unless of course you live in a refrigerator.) So why bother grabbing the text if I can get the same exact knowledge from life?
Well, in the beginning, end and throughout each chapter, tons of real life examples are woven in to illustrate each of the "business essentials." On top of that, real quotes from millionares, successful CEOs and entrepreneurs, and trusted business executives allows the average student a valuable glance into what makes up a smart business mindset.
What's my point? To study business, you need to study the principles that real professionals swear by. Texts written by "just" business professors who don't actually participate in the business world really just don't cut the chase. They're probably broke anyway. Now textbooks with information from successful people, that's what's going to make a student of business really churn out a beautiful future.
So while the material is very, very basic. The real life examples are awesome. However, these lessons can be taught by even better books by great people like Stephen R. Covey and Dale Carnegie. But if you do need a book chock full o' business vocabulary and basics, this isn't a terrible pick. And it certainly does spell everything out.
3 of 3 people found the following review helpful.
Chances are, your boss should probably read this book
By Dairenn Lombard
There is cutting-edge information in this book about how to start, run, maintain and protect a business, whether it is a small partnership or a bustling enterprise of many employees. Ebert and Griffin do thorough job of presenting new concepts in an easily understood format that allows anyone with a high school diploma grasp the fundamentals of entrepreneurship. Of particular importance is stressing the ideas of assessing one's own strengths and weaknesses as well as the opportunities and threats in the marketplace. It talks about the critical nature of human resource management, how to retain productive employees and keep them motivated. You learn the all-important concept of strategic tactics for developing your short, intermediate and long-term goals, mission statement, a written code of ethics and corporate culture as well as understanding the crucial significance of your Organizational Stakeholders. Even if you don't plan on starting or buying your own business or franchise, even shift supervisors will greatly benefit from understanding how to improve their effectiveness on their team if they even read Half of this book. Sometimes the stories that come at the beginning of each chapter can be distracting, but this is a minor issue with the presentation. This is a must-read for anyone looking for their careers escalate in the business world.
3 of 3 people found the following review helpful.
Good book to start with
By Jen C.
I purchased this book for my class. It covers a lot of topics - how to open your own business to barriers to international trade to the nature of leadership. Basic overview and definitions, but nothing too deep. This book is exactly what its title is, "business essentials." One good thing about this book - The case studies that are presented are with the times (Facebook, Samuel Adams beer, Google).
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