preface - pearson | the world's learning company | canada

Preface xx

Brief Contents

Chapter

1 Business Fundamentals 2 Online Career Skills: Ten Easy Rules for Academic Success and Beyond 1-11

2 Economics and Banking 26

3 Legal, Ethical, and Responsible Business 58

4 Global Businness 92

5 Entrepreneurship, Small Business, and New Venture Creation 120 Online Career Skills: Constructing an Effective Business Plan 1-8

6 Business Management and Organization 152 Online Career Skills: Business Communications 1-9

7 Motivation, Leadership, and Teamwork 176

8 Human Resource Management 206 Online Career Skills: Finding a Job 1-10

9 Business Technology 242

10 Operations Management: Goods and Services 270

11 Marketing and Consumer Behaviour 298

12 Marketing Mix: Product, Price, Promotion, and Place 324

13 Financial Management and Accounting 366 Online Appendix 13A: Securities and Investments 1-11 Online Career Skills: Personal Finance 1-22

Gl index 000

Reference Notes 000

Sources 000

Credits 000

00_fm.indd ii00_fm.indd ii 03/02/12 5:19 PM03/02/12 5:19 PM

Contents

A Note to Students xx

Preface xx

1 Business Fundamentals 2

Business Introduction 4 Online Career Skills: Ten Easy Rules for Academic Success and Beyond 1-11

A Glance at Canadian Business 4

Top 10 Richest People in Canada (2010) (CDN$ billion) 6

Business Benefi ts 7 Business Sectors 8

Factors of Production 10

On Target Nantucket Nectars: Tom and Tom Partnership 11

BizChat What Do These Two Businesses Have in Common? 12

Functional Areas of Business 12

Environments Of Business 13

Pest Model 13 Political-Legal Environment 15

Economic Environment 16 Socio-Cultural

Environment 16

Better Business, Better World Do You Prefer To Do Business with Companies You Can Trust? 17Top 10 Canada’s Top Employers for Young People (2010) 18

Technological Environment 20

Chapter Synopsis 21 Key Terms 23 Critical Thinking Questions 23 Application Exercises 23 Global 500 Research Project 24

Team Time 24 Ethics And Responsibility 24 Closing Case 25

Chapter Resources 25

2 Economics and Banking 26

Basics Of Economics 28Economics Defi ned 28 Types of Economic Systems 30

Business And Economics 32Supply and Demand 32

On Target World Record for Kinect 38

Business and Competition 38

BizChat Apple: Taking a Bite out of Microsoft? 40

Better Business, Better World Building a Stronger, Cleaner, Fairer World 43

Economic Indicators 44Economic Growth 44

On Target Countries by GDP (2010) 45

Infl ation 45 Unemployment 47

Government and the Economy 48Controlling Fluctuations in the Economy 48 Money

Supply 49




3 Legal, Ethical, and Responsible Business 58

Ethics: The Basics 60Ethics Defi ned 60 Personal Ethics 61

BizChat Can Living Ethically Make You Happy? 63

Personal Ethics Meets Business Ethics 64You As a Person and As an Employee 64 Identifying a

Company’s Ethics 66

Top 10 World’s Most Ethical Companies (2011) 67

Corporate Social Responsibility (CSR) 67Five Pillars of CSR 67 Challenges of CSR 73

Dangers of a Weak Ethical Focus 74

Legal Regulations, Compliance, and Consequences 74

Recovering from Weak Ethical Conduct 79

Better Business, Better World Transparency and Anti-Corruption 80

How can a Business Develop Ethical Practices 81Ethical Focus: Day One and Beyond 81

On Target Playing the Ethics Game 83

Increasing Profi ts through an Ethical Focus 83

Top 10 Top Ten of Canada’s 100 Greenest Employers (2010) 84




00_fm.indd iii00_fm.indd iii 03/02/12 5:19 PM03/02/12 5:19 PM

iv Contents

4 Global Businness 92

Globalization: What’s it all About? 95International Business 95 Reasons for the Rise in

Globalization 96

International Trade 98

International Competition 98

Top 10 Global 500 Largest Corporations in the World (2010) 99

Benefi ts and Costs of International Trade 100 Trade

Barriers and Protectionism 100

Off The Mark How Does China’s Internet Censorship Affect Global Business? 102

International Organizations Promoting Free Trade 103Regional Free Trade Agreements 104

Conducting Business Across Borders 106Strategies for International Business 106 Entering

Foreign Markets 107

International Business: Economic Factors and

Challenges 110

The Effect of Exchange Rates 110

BizChat Which Is Better—A Strong Dollar or a Weak Dollar? 111

Top 10 Canada’s Top Export Destinations (2010) 111

Other Economic Challenges to Conducting International

Business 112 Socio-Cultural, Political, Legal, and

Ethical Challenges 113

Chapter Synopsis 116 Key Terms 117 Critical Thinking

Questions 117 Application Exercises 117 Global 500 Research

Project 118 Team Time 118 Ethics And Responsibility 118 Closing

Case 119 Chapter Resources 119

5 Entrepreneurship, Small Business, and New Venture

Creation 120

Online Career Skills: Constructing an Effective Business Plan 1-8Entrepreneurship: What’s in It for Me? 122

The Traits of Successful Entrepreneurs 122 Types of

Entrepreneurs 125

Top 10 Canada’s Top Entrepreneurial Cities (2010) 125

On Target Facebook’s Mark Zuckerberg 126

What It Takes To Be an Entrepreneur 126

Small Business, the Risks, and Where to Get Support 127Small Business and the Economy 127 The Impact of

Technology on Small Businesses 128 Starting Your

Own Business 129 Small Business Support 131

Financing Considerations 133Cash and Credit 133 Loans and Grants 133 Venture

Capital and Other Forms of Financing 134

Buying a Franchise or an Existing Business 134Buying A Franchise 134

Top 10 Failproof Canadian Franchises (2011) 135

Buying an Existing Business 136

Forms of Business Ownership 138Sole Proprietorships 138

BizChat What’s in a Name? 139

Partnerships 140 Corporations 142 Non-Profi t

Corporations 143 Co-Operatives 144 Business

Combinations: Mergers and Acquisitions 145



Project 150 Team Time 150 Ethics And Responsibility 150 Closing

Case 150 Chapter Resources 151

6 Business Management and Organization 152

Online Career Skills: Business Communications 1-9Skills of Successful Managers 154

Working with People and Resources 154

Functions of Management 157Planning 157 Organizing 163 Leading 166

BizChat Do Successful Managers Need to Be Effective? 168

Top 10 North America’s Best Companies for Cultivating Leadership Skills (2010) 169

Controlling 170

On Target Loblaw’s Restructuring 171



Project 174 Team Time 175 Ethics And Responsibility 150

Closing Case 174 Chapter Resources 175

7 Motivation, Leadership, and Teamwork 176

Motivation: The Basics 178Personal Motivation 178 Motivation, Engagement, and

Flow 179 Early Theories of Motivation 181

Motivation: Business Applications 183The Complexity of Motivation 183 Motivational

Models Used in Business 184 Evolution of Motiva-

tional Theories in Business 187

Top 10 Best Companies to Work For (2011) 187

Leadership 188Leadership in Business 188

Top 10 CEOs with Good Reputations in the Financial Community 188

Better Business, Better World Japan Relief 190Personality Traits 191

Teamwork 194Advantages of Teams in the Workplace 194

BizChat Do You Have to Be Tall to Be a Leader? 194

Off the Mark 196

Off The Mark Dream Team or Nightmare? 196

Best Practices For Teams 197





00_fm.indd iv00_fm.indd iv 03/02/12 5:19 PM03/02/12 5:19 PM

Contents v

8 Human Resource Management 206

Online Career Skills: Finding a Job 1-10Hiring for Optimum Organizational Performance 208

The Importance of Managing Human Resources 208

Determining and Planning Human Resource Needs 209

Recruiting 211

BizChat What Is Recruiting 2.0? 213

Selecting and Hiring 213

Developing Employees for Optimum Performance 215Training 215

Top 10 Ten of Canada’s Top 100 Employers 215

Evaluating 217

Compensating, Scheduling, and Transitioning

Employees 219

Compensating 219 Scheduling 221

Better Business, Better World The Home Depot Canada Foundation 224Transitioning: Promoting, Transferring, Retiring,

and Terminating 224

Managing Workplace Diversity 227Demographic Projections 227

Top 10 Reasons Employees Get Fired 227

Diversity-Friendly Organizations 229

Top 10 Canada’s Best Diversity Employers 229

On Target One Diversity Training Does Not Fit All 230

Employer-Employee Relations 230Labour Unions 230 Collective Bargaining 232

Human Rights and Labour Laws 233





9 Business Technology 242

Information Technology (IT) Basics 244IT Professionals and the IT Organization 244

Information Systems 245

On Target Questions to Ask Before Adopting a New Piece of Technology 245

Computer Systems 248Hardware 248 Software 249 Networks 250

Benefi ts and Challenges of Technology 251It Benefi ts and Challenges for Employees 251

Top 10 World’s Most Innovative Companies (2011) 252

Off the Mark 253

Off The Mark Hewlett-Packard Spying Scandal 253

It Benefi ts and Challenges for Management 254

BizChat Customers Exposed 254

Technology Creates a Global Village 255

Better Business, Better World Electronics Recycling 256International Business Environment 257 Special Issues

in E-Business 258





10 Operations Management: Goods and Services 270

Operations Overview 272Producing Goods and Services 272 Operations

Management 274

Operations Planning 275The Production Process 275 Technology in the

Production Process 277

BizChat Technology: Too Much of a Good Thing? 278

Facility Location Planning 279

Top 10 Critical Decisions for Operations Management 279

Top 10 Supply Chain Innovations of All-Time 281

Facility Layout and Capacity Planning 282 Resource

Planning 283

Better Business, Better World Ethical Standards for Suppliers 285

Operations Control 285Operations Scheduling 285 Inventory Control 287

Quality Control 289

Top 10 Companies for Quality Products and Services (2010) 289

Off The Mark Quality Catastrophes 290





11 Marketing and Consumer Behaviour 298

Marketing Fundamentals 300Evolution of Marketing 300 Benefi ts and Criticisms of

Marketing 302

Better Business, Better World Canadian Marketing Association’s (CMA) Code of Ethics and Standards of Practice 304The Marketing Mix (4 Ps of Marketing) 305

BizChat Is There a Fifth P? 306

The Marketing Environment 308The Competitive Environment 308 The Marketing

Environment 308

Top 10 Technological Advances of the Decade That Changed Our Lives 309

Marketing Research and Planning 310The Marketing Research Process 310

Top 10 Statistics Every Marketer Should Know (2011) 311

The Marketing Plan 312 Target Markets 313

Off The Mark The Tale of Pets.com 313

Consumer Behaviour 315Consumer Markets 315

Top 10 Most Popular Searches for Brands (2010) 316

00_fm.indd v00_fm.indd v 03/02/12 5:19 PM03/02/12 5:19 PM

vi Contents

Business-to-Business (B2B) Markets 317





12 Marketing Mix: Product, Price, Promotion, and

Place 324

The Marketing Mix (4 Ps): Product 327The Total Product Offer 327 Product Differentiation 328New Product Development 329 Product Lines and the

Product Mix 332 Consumer and Business-to-Business

Products 333 Branding 335 Brand Loyalty and Brand

Equity 335

Top 10 World’s Most Valuable Brands (2011) 336

BizChat Who’s Behind Those Catchy Slogans? 337

Top 10 Characteristics of a Good Brand Name 337

Packaging and Labelling 337

Off The Mark Q-tips Brand Cotton Swabs 338

The Marketing Mix (4 Ps): Price 339

The Marketing Mix (4 Ps): Promotion And The

Promotional Mix 343Promotion 343 Promotional Mix: Advertising 345

Top 10 Leading Global Advertisers by Expenditures (2009, US$billion) 348

Promotional Mix: Public Relations 348 Promotional

Mix: Personal Selling 350 Promotional Mix: Sales

Promotion 352

The Marketing Mix (4 Ps): Place (Distribution) 354Marketing Intermediaries and Distribution

Channels 354 Wholesalers, Agents, and Brokers 357

Retailers 358 Physical Distribution 360





13 Financial Management and Accounting 366

Online Appendix 13A: Securities and Investments 1-11 Online Career Skills: Personal Finance 1-22Financial Management 369

The Financial Manager 369 Planning for Financial

Needs 369 Addressing the Budget 371

Financial Needs 372Financing Short-Term Business Needs 372 Financing

Long-Term Business Needs 375

Accounting Functions 379Accounting Fundamentals 379

Off the Mark 380

Off The Mark Accounting Error Reduces Share Value 380

Types of Accounting 381

Top 10 Accounting Scandals of All Time (US$) 381

Accounting Standards and Processes 382

BizChat Fraudulent Bigwigs Face Hard Time 383

Financial Statements 385The Balance Sheet 385 Analyzing a Balance Sheet 387

Income Statements 390 Analyzing Income

Statements 391 Statement of Cash Flows 392





G lindex 000

Reference Notes 000

Sources 000

Credits 000

00_fm.indd vi00_fm.indd vi 03/02/12 5:19 PM03/02/12 5:19 PM

H ow can you use Better Business as an effective learning tool?

R ead Actively

D o you ever fi nd that you need to reread a text many

times before you fully understand it? Do you ever have

trouble remembering what you read?

A s a student, you are expected to read regularly. As

an employee, reading to develop your skills and knowl-

edge will likely be an important part of your job. Before

you begin reading anything, you should determine your

reading objective—what is it you want to gain from

reading? When you read a newspaper or magazine, for

example, you might simply skim over the material to

discover the main points. But when you read a textbook,

you must read carefully (that is, read every word), make

notes, and question what you are reading.

Y ou can use the SQ3R technique to improve your

understanding of a text:1

■ S urvey (or skim),

■ Q uestion (ask yourself questions about what you are

reading),

■ R ead,

■ R ecall (identify major points and answer questions

from Q ) , and

■ R eview (review all sections).

W hen you are reading for a course, you need to make

sure you’re actively involved in the text. Active readers

predict, make inferences, and draw conclusions; they ask

questions while they read and stop often to check for under-

standing. Fortunately, Better Business provides in-text ques-

tions throughout every chapter, giving you built-in cues

to make your study active, promote deeper thought, and

engage your critical thinking skills. For example, instead

of simply listing the tasks that managers perform, Better Business asks you, “What tasks do managers perform?” and

gives you the information to answer that question.

I f you think that active reading will take too much

time, think again. Active reading saves time because it

improves reading comprehension and retention—it helps

you to understand and remember what you’ve read,

meaning you won’t have to reread material again and

again. Reading actively takes only a little effort, but it

produces big results.

B etter Business strives to engage you in the material,

pique your interest, drive your curiosity, and promote

active reading. Active reading assists you in doing what

you came to university or college to learn how to do—

think deeply about issues of importance in our society.

Ultimately, the process of active reading helps you to

understand and retain what you read and assists you

in mastering academic reading. This mastery leads to a

successful educational experience and will also serve you

well in your future profession.

U se the Learning Style that Works Best for You

B etter Business provides you with multiple ways to learn.

Each of us has a preferred learning “style”; some like

to watch and learn (visual), others like to do and learn

(kinesthetic), and still others like to listen and learn (audi-

tory). So, while simply reading a textbook is a good start

to learning, most of us will remember more and remember

longer by learning in multiple ways. For auditory, visual,

and kinesthetic learners, the MyBusinessLab online learn-

ing system is packed with videos, fl ashcards, audio chap-

ter summaries, business case simulations, and much more.

Y ou have likely completed a learning styles inven-

tory in the past, but if you haven’t, it would be benefi cial

for you to complete the “Multiple Pathways to Learning”

activity on MyBusinessLab, which will help you to deter-

mine your preferred learning style. Knowing your learn-

ing style will assist you in developing coping strategies to

compensate for your weaknesses and capitalize on your

strengths. With the question-driven learning strategy

implemented in the textbook and the wealth of learning

resources at your disposal in MyBusinessLab, you will be

well on your way to academic and career success.

To Students

00_fm.indd vii00_fm.indd vii 03/02/12 5:19 PM03/02/12 5:19 PM

W hat makes Better Business an effective teaching resource?

Q uestion-Driven Learning

W e all use questions to learn and to gain a better under-

standing of the knowledge that we need in our careers,

our studies, and our lives. The importance of question-

driven learning cannot be understated; the brain creates

pathways to information in response to questions. Strong

questions motivate and encourage students to achieve

deeper understanding of any topic. Better Business applies

the principles of question-driven learning by using in-text

questions as the driving force for acquiring knowledge.

The interactive writing style of this book makes it an

easy-to-read, engaging text for students.

M ultiple Levels of Thinking

B etter Business refl ects Benjamin Bloom’s question-based

philosophy by providing a suite of Discussion Questions,

Application Exercises, and Critical Thinking Questions

that may be used to teach and test not only students’

knowledge, comprehension, and application of spe-

cifi c concepts, but also their higher level thinking skills

(analysis, synthesis, and evaluation). Bloom’s classifi ca-

tion of educational objectives, popularly known as Bloom’s Taxonomy, can help educators to better assess student

l earning and thinking skills. In the absence of such a

classifi cation system, educators may inadvertently

emphasize memorization of facts rather than emphasiz-

ing other (and likely more important) learned capabilities.

Questions in the Instructor’s Manual and the electronic

test bank are associated with specifi c levels of Bloom’s Taxonomy. Instructors can select questions from Better Business and its online resources that refl ect and reinforce

each lesson plan’s objective.

M ultiple Modalities of Learning

S tudies have shown that learning is more effective when

it is multimodal. For example, using visuals alongside

verbal or textual learning can yield signifi cant benefi ts for

the learner. A Metiri Group research study on multimodal

learning recommended that instructors create multimodal

and interactive or collaborative lessons in order to engage

students’ thinking in a variety of w ays, using whatever

media is best suited to the student and the material.2

Better Business follows this approach with the inclusion of

MyBusinessLab, Pearson’s revolutionary online learning

system. It gives professors and students easy access to a

variety of media and activities that get students interact-

ing with business and not just reading about it.

T o Instructors

A bout the Canadian Edition

00_fm.indd viii00_fm.indd viii 03/02/12 5:19 PM03/02/12 5:19 PM

H ow do the Better Business chapters enhance teaching and learning?

E ach chapter is packed with real, relevant, and timely examples that reinforce key

concepts. A wealth of chapter-opening, in-chapter, and end-of-chapter features help

students learn, link, and apply major concepts:

P edagogical Features

O pening Discussions Each chapter begins with an engaging

Opening Discussion that sets the stage for the chapter. These brief

introductory case studies discuss real-world organizations and

countries, introducing students to critical issues and business

concepts. They include questions to inspire class discussion,

prompt thinking, and generate interest in the chapter content.

T he WhyHire.me Innovation

A s Facebook, LinkedIn, Twitter, and myriad other online

social media become increasingly prevalent, more

employers are scrutinizing these networking sites to

screen potential employees. In a 2009 CareerBuilder

survey, 45 percent of the 2,600 employers surveyed

reported that they research job candidates through social

media, which was a huge increase from the 22 p ercent

reported in 2008.1 Because of content found on social

networking sites, 35 percent of employers reported that

they chose not to hire candidates while 18 percent chose

to hire candidates. Obviously, it is becoming imperative

for job seekers to ensure their online image is not dimin-

ishing their job opportunities.

W hile teaching career positioning to a market-

ing class in 2008, Patti Church realized that students

n eeded to start thinking about this topic sooner than

later. At the same time, Andy Church and Robert Saric

were discussing the value of having an established

online personal brand when looking for employment

after noticing the tremendous positive impact it had on

their own job search efforts. Patti brought to Robert’s

and Andy’s attention the point that many university

and college students did not realize how transparent

they are on the Web. The t hree entrepreneurs formed a

legal partnership and set out to develop a social media

tool that would not only educate students about pro-

fessional personal branding but also provide a venue

whereby students could safely build an online career

portfolio to showcase their skills, abilities, and knowl-

edge; establish a positive online reputation; and pro-

actively position themselves to get hired! It was time to

start using digital tools for a digital generation.

T heir efforts resulted in WhyHire.me, a career suc-

cess platform where students can create a professional

and unique online brand presence.2 As head of cur-

riculum design, Patti leads the development of learning

materials and overall student learning experience. With

his considerable experience in education technology

2.0, stakeholder management, and growing global

E ntrepreneurship, Small Business, and New Venture Creation

L EARNING OBJECTIVES

A fter studying this chapter, you should be able to:

❶ L ist the traits of an effective entrepreneur, and describe how these

characteristics often lead to business success. (pp. 122–127)

❷ Summarize the role of small business within the Canadian economy.

(pp. 127–129)

❸ Explain why a business plan is crucial to small business success, and

describe the factors that lead to small business failure. (pp. 129–131)

❹ Describe how resources—including government, banks, associations,

business incubators, and advisory boards—provide assistance and

guidance to small business owners. (pp. 131–133)

❺ Summarize the potential benefi ts and d rawbacks of each major source

of small business fi nancing. (pp. 133–134)

❻ Outline the advantages and disadvantages of franchising within the

context of entrepreneurship. (pp. 134–138)

❼ List and explain the advantages and disadvantages of a sole

proprietorship. (pp. 138–140)

❽ Describe the advantages and disadvantages of a partnership and a

partnership agreement. (pp. 140–142)

❾ Explain how a corporation is formed, and how it compares with sole

proprietorships and partnerships. (pp. 142–143)

❿ Describe the characteristics of non-profi t corporations and

co-operatives. (pp. 143–145)

⓫ S ummarize the different types of mergers and acquisitions and

explain why they occur. (pp. 145–146)

O PENING DISCUSSION: STARTING A NEW BUSINESS

5 C HAPTER

(continued)

05_ch05_solo copy.indd 120-121 31/01/12 9:34 AM

00_fm.indd ix00_fm.indd ix 03/02/12 5:19 PM03/02/12 5:19 PM

W orld Record for Kinect

T he Microsoft Kinect device for the Xbox 360 made the 2011 Guinness World Records as the fastest-selling con-sumer electronics device. The controller-free gaming hard-ware sold an average of 133,333 units a day, for a total of eight million units in its fi rst sixty days on the shelves. The sales fi gures beat both the iPhone and the iPad for the equivalent periods after launch.8

Microsoft developed the Kinect concept after the Nintendo Wii proved that gaming segments beyond the traditional young male do exist. Nintendo had released exercise pro-grams and family games for which players used hand-held controllers to send body movement s ignals back to the pro-cessor to be emulated onscreen. Microsoft advanced the Wii idea by eliminating the controller altogether. Few companies would have the research depth to build something like Kinect. Researchers from a range of fi elds, including depth sensing, machine learning, speech recognition, gestural interface, computer vision, identity recognition, sound processing, and parallel computing, put their heads together to create Kinect.9

Discussion Questions

1 . Using the PEST model for analysis (see Chapter 1), how might changes in the external business envi-ronment affect Kinect sales? Give an example.

2 . What type of research would Microsoft have done before introducing Kinect regarding competitors and consumers? How might the research results affect Microsoft’s development of the Kinect product?

3 . Motion sensors and voice recognition have been available for several years in many devices we

On Target

02_ch02_solo.indd 38 30/01/12 2:22 PM

O ff the M ark

How Does China’s Internet Censorship

Affect Global Business?

W hile many parts of the world, notably the Middle East, are undergoing dramatic political and social changes because of Internet access, China has become more restrictive with what its net-izens are allowed to access.26

Google and other tech companies have had diffi culty doing business in China due to government censor-ship and regulations. Beijing’s extensive censorship of online content—often called the “Great Firewall of China”—systematically removes material it deems harmful, including politically sensitive information, pornography, and violence.27

As of 2011, Facebook, the world’s largest online social media network, w hich had been blocked in China since 2009, was looking for ways to work within Chinese laws and with China’s leading search engine and web conglomerate, Baidu. Meanwhile, Google declared war on censorship and decided not to censor its web searches in China any longer, so China started closing the doors on Google services, banning or highly restrict-ing various services from the country. Microsoft, on the other hand, continued to comply with local regulations, including the censorship of some political material.

S ome people are pushing the U.S. government to make Internet censorship a trade issue. The argument, which Google has made in congressional testimony, is that digital barriers to the free fl ow of information are equivalent to traditional trade barriers, which are illegal under World Trade Organization (WTO) rules. Google spokesperson Niki Fenwick says censorship is fi rst a human right issue, then adds, “When a government blocks the Internet, it is the equivalent of a customs offi cial stopping goods at the border.”29

Under order of Pakistan’s high court in 2010, the Pakistan Telecommunication Authority started to observe Google, MSN, YouTube, Yahoo, Hotmail, and other websites for any infringement of Muslim sentiments.30 If the trend to block Internet access continues, what will happen to human rights and global trade? Where are we headed?

D iscussion Questions

1 . How do you feel about censorship? Is it a violation of human rights or does it protect citizens, government, or society? Do you think the Chinese government will be pressured into providing open Internet access for its citizens? Why or why not?

2 . Do you think the Chinese government’s censor-

04_ch04_solo.indd 102 23/01/12 5:34 PM

x Pedagogical Features

O n Target Boxes, Off the Mark Boxes, and Top 10 Lists Each chapter

includes either an On

Target or Off the Mark

box. These boxed features

illustrate positive and

negative outcomes of

business ventures related to

chapter material. They are

accompanied by questions

to inspire classroom

discussions and further

understanding of the topics.

These features, along with

various Top 10 lists, help

fuel in-class dialogue.

B izChat Boxes BizChat boxes include questions

that can spark thoughtful in-class discussions or

virtual discussions via MyBusinessLab. BizChat

boxes explore “hot topics” in business to help

connect the chapter material to what’s happening

in business today.

B iz Chat W hat Is Recruiting 2.0?

Y ou’re probably familiar with social networking sites such as Myspace and Facebook. The same concept is applied to the professional community through sites such as Linke-dIn ( www.linkedin. com), ZoomInfo ( www.zoominfo. com), and Spoke ( www.spoke. com). LinkedIn is an online net-work of more than 135 million experienced professionals worldwide whose connections are made through college and university, graduate school, or professional affi liations.8 Most people would like to hire or work with someone they know, and LinkedIn can provide helpful colleague and cus-tomer recommendations. Additionally, LinkedIn may assist job seekers by providing insiders’ information o n compa-nies and employees. If you’ve scheduled an interview, you might fi nd a LinkedIn page for the person with whom you are meeting. This can give you some information on that person’s professional background, including where he or

she went to school, as well as information on hobbies. Knowing these details may provide for good conversation starters during the interview.

D iscussion Questions

1 . Do you think it is appropriate for an employer to view your Facebook page before an interview or before they hire you? Why or why not? If an employer viewed your Facebook page, do you think it would affect their decision to hire you? Why or why not?

2 . Have you established an online “professional” image using a professional networking tool such as LinkedIn? If you don’t have an online image now, do you think you should create one? What will it say about you? What can you do to ensure your online image is portraying you in a positive way to potential employers?

3 . Some people say they don’t care what others think of them. Should you care about what others think of your online image? Why or why not?

Explore on mydevelopmentlab

08_ch08_solo.indd 213 25/01/12 3:50 PM

10 W orld’s Most Valuable Brands (2011)

B rand Value

R ank Brand (US$mil)

1 . Apple 1 53,285

2. G oogle 111,498

3 . IBM 1 00,849

4. M cDonald’s 81,016

5 . Microsoft 7 8,243

6. C oca-Cola 73,752

7 . AT&T 6 9,916

8. M arlboro 67,522

9 . China Mobile 5 7,326

10. G E (General Electric) 5 0,318

Source: MaryLou Costa, “The Most

Valuable Brands in the World,” Mar-

ketingWeek (online), May 12, 2011,

http:/ / www. marketingweek. co. uk/

the-most-valuable-brands-in-the-

t op

12_ch12_solo.indd 336 28/01/12 4:44 PM

00_fm.indd x00_fm.indd x 03/02/12 5:19 PM03/02/12 5:19 PM

Pedagogical Features xi

❶ Learning Objectives, Key Terms, and Chapter Synopsis Tied directly

to the synopsis at the end of the chapter

and to the MyTest questions, each

chapter’s Learning Objectives preview

the main points students should know

after studying the chapter. Throughout

the chapter, Key Terms are defi ned

in marginal notes. At the end of each

chapter, the Chapter Synopsis reminds

students of the chapter’s Learning

Objectives and summarizes the main

concepts discussed within the chapter.

F inancial Management and Accounting

L EARNING OBJECTIVES

A fter studying this chapter, you should be able to:

➊ S ummarize the implications of fi nancial management and how

fi nancial managers fulfi ll their responsibilities. (p. 369)

❷ Describe how fi nancial managers plan for fi nancial needs.

(pp. 369–372)

❸ Describe the different options available for companies to fi nance their

short-term business needs, including friends and family, credit cards,

commercial banks and fi nance companies, trade credit, promissory

note, factoring, and commercial paper. (pp. 372–375)

❹ Summarize the pros and cons of debt and equity fi nancing.

(p. 375)

❺ Outline the differences between each of the following types of

long-term fi nancing options: selling bonds, selling stock, venture

capital, and retained earnings. (pp. 375–380)

❻ Describe the functions of corporate accounting, managerial

accounting, fi nancial accounting, auditing, tax accounting, and

government and non-profi t accounting. (pp. 381–382)

❼ Explain how double entry bookkeeping is used to maintain the balance

of the fundamental accounting equation. (pp. 382–385)

❽ Describe the function of balance sheets, income s tatements, and

statements of cash fl ow. (pp. 385–394)

13 C HAPTER

13_ch13_solo.indd 366 30/01/12 1:34 PM

B etter Business, Better World Vignettes In Chapters 1 to 3 and 7 to 11, the Better Business,

Better World vignettes illustrate how businesses are engaging in the solutions to sustainable

development challenges, global citizenship and equity, and social responsibility. The vignettes

contain discussion questions to enhance students’ understanding of the topic and help initiate

classroom discussion.

P rimary data are raw data

collected by the researcher.

The data are frequently

collected through observation,

questionnaires, surveys (via

mail, e-mail, or telephone),

focus groups, interviews,

customer feedback, samples,

and controlled experiments.

A focus group is typically a

group of eight to ten potential

customers who are asked

for feedback on a good or

service, advertisement, idea,

or packaging.

S econdary data are data that

have already been collected

and processed. An example of

secondary data is census data.

11_ch11_solo.indd 310 28/01/12 2:24 PM

C HAPTER SYNOPSIS

❶ Summarize how marketing has evolved over the production concept era, sales concept era, marketing concept era, and customer relationship era. (pp. 300–302)

D uring the production concept era (from the Industrial Revolu-

tion until the 1920s), most companies focused solely on produc-

tion. Demand was often greater than supply, and the prevailing

mindset was that a good-quality product would simply sell

itself.

D uring the sales concept era (from the mid-1920s through

the early 1950s), technological advances meant that production

increased more sharply than demand for goods and services. The

use of heavy public advertising in all available forms of media

targeted customers. This blend is constrained by forces outside

the fi rm’s control that are found within the broader market

environment.

ProductPrice

TargetedCustomers

cons

traints constraints

11_ch11_solo.indd 319 28/01/12 2:24 PM

T he Home Depot Canada Foundation28

E stablished in 2008, The Home Depot Canada Foundation expands “The Home Depot Canada’s commitment to giv-ing back to the communities it serves.” As a private, Cana-dian charitable organization, the foundation brings together volunteerism, do-it-yourself expertise, product donation, and monetary grants to meet community needs. It sup-ports the development of affordable housing built respon-sibly and builds h ealthy neighbourhoods by supporting lo-cal initiatives such as restoring and creating much-needed community green spaces and other outdoor beautifi cation projects. As of 201, the foundation works with a number of national community partners, including Habitat for Hu-manity Canada, Evergreen, Volunteer Canada, Boys & Girls Clubs of Canada, and Great Canadian Shoreline Cleanup.

to take a leadership role in their community by organizing and volunteering on projects with local and national part-ners. Annually, The Home Depot associates contribute more than 60,000 volunteer hours to community projects across Canada.

B etter Business B etter World

08_ch08_solo.indd 224 25/01/12 3:51 PM

C ritical Thinking Questions End-of-chapter

Critical Thinking Questions are designed to get

students to think about how the material they are

studying applies to them as individuals, community

members, and global citizens.

C RITICAL THINKING QUESTIONS

1 . Contingency plans are important in any business. Discuss

what kinds of plans your school might have in place. How

would these plans differ, if at all, from those of a local business

in your area? What are a few possible scenarios that would

require contingency plans in your school or at a local business?

2 . How do you rank leadership qualities? Rank the following

qualities and compare your results with your classmates:

honest, loyal, competent, caring, determined, ambitious,

inspiring, forward-looking, self-confi dent, and imaginative.

What are the top three qualities?

3 . Analyze your own ability to be a manager. What already

polished skills do you have now? What skills would you

need t o improve? What skills would you still need to acquire?

How could you go about acquiring or improving those skills

you do not have?

4 . What differences might you expect to fi nd in the corporate

cultures of Google and CIBC? Do you think there would there

be any similarities?

5 . Perform a basic SWOT analysis for the school you are cur-

rently attending. Indentify at least fi ve strengths, weaknesses,

opportunities, and threats. Suggest several ways your school

can take advantage of opportunities by using it strengths

and several ways in which your school can protect itself from

threats and overcome its weaknesses.

06_ch06_solo.indd 173 24/01/12 4:30 PM

A pplication Exercises End-

of-chapter Application

Exercises are designed to

increase student involvement

in the learning process through

researching, completing tasks,

and providing evidence either

in or out of the classroom.

A PPLICATION EXERCISES

1 . Ethical Decisions. Locate a free ethics quiz online and test

your ethical decision-making abilities. The following websites

can help you to get started:

a . ICMR— http:/ / www. icmrindia. org/ courseware/

Business%20Ethics%20&%20Corporate%20Governance/

Business%20ethics-quiz2. htm

b . CareerBuilder— www.careerbuilder. com/ Article/

CB-1382-The-Workplace-Quiz-How-Ethical-Are-You/

c . The Ethics Guy on CNN— http:/ / youtu. be/

Lhwhgf01Ozw

d . Onveon— www.onveon. com/ articles/

how-ethical-are-you-quiz. htm

W ere there any dilemmas you found particularly challenging

or surprising? Why?

2 . Volunteerism. You don’t have to wait until you graduate to

start demonstrating your social responsibility. Volunteering

3 . Corporate Social Responsibility (CSR). Visit the Canadian

Business for Social Responsibility (CBSR), a non-profi t orga-

nization, website at www.cbsr. ca and write a brief summary

answering the following questions.

a . What does the organization do? What is the CBSR model

(under Approach)?

b . Under CBSR Publications, what are some of the recent

CSR trends?

c . What are the upcoming CSR events?

4. Corporate Ethics. Visit two of the following three multina-

tional company websites: Boeing, the world’s leading aero-

space company; Apple, Inc., the world’s largest technology

company; and Toyota Motor Corporation, the world’s largest

automobile manufacturer by sales. Compare and contrast

the companies’ code of ethics, mission, values, and code of

conduct. Based solely on each company’s ethical conduct,

03_ch03_solo.indd 88 30/01/12 6:25 PM

00_fm.indd xi00_fm.indd xi 03/02/12 5:19 PM03/02/12 5:19 PM

xii Pedagogical Features

S tudy on the Go and ScanLife™ Barcodes The ScanLife™

barcodes provide an

unprecedented seamless

integration between

text and online content

for students. The free,

downloadable app (for

instructions go to:) enables

students to link to Pearson

Canada’s unique Study

on the Go content directly

from their smartphones,

allowing them to study

whenever and wherever

they wish! Upon scanning,

students can follow the

online instructions to

search the rich study

assets, including Glossary

Flashcards, Audio

Summaries, and Quizzes.

S tudy on the Go

A t the end of each chapter you will fi nd a unique barcode providing access to Study on

the Go, an unprecedented mobile integration between text and online content. Students

link to Pearson’s Study on the Go content directly from their smartphones, allowing them

to study whenever and wherever they wish! Visit one of the websites below t o see how

you can download an app to your smartphone for free. Once the app is installed, your

phone will scan the code and link to a website containing Pearson’s Study on the Go

content, including the popular study tools Glossary Flashcards, Audio Summaries, and

Quizzes, which can be accessed anytime.

S canLife http:/ / getscanlife. com/

N eoReader http:/ / get. neoreader. com/

Q uickMark http:/ / www. quickmark. com. tw/

T eam Time Exercises End-of-

chapter Team Time Exercises have

students work in teams to improve

their collaboration and problem-

solving skills.

T obacco Wars

D ivide into two even teams, one to represent each of the follow-

ing:

a . tobacco company employees; pro-cigarette advertising in

magazines

b . anti-tobacco advertising activists

S CENARIO

Does a company have a fundamental right to market its products

wherever it wishes? Cigarette advertising in magazines has

been a topic of great controversy. The large tobacco companies

provide publications with a great deal of revenue by purchasing

expensive advertising space, but many anti-smoking groups and

some magazine publishers are questioning the ethical nature

of this. Anti-smoking groups argue that these advertisements

appeal to children and glamorize smoking. Tobacco companies

claim that they are m erely making attractive advertisements with

no intention of encouraging children to use their products. The

European Union has banned tobacco advertisements from maga-

zines entirely, and many U.S. publications have stopped selling

ad space to tobacco companies. The Canadian government has

taken bold steps to control tobacco marketing. Do tobacco com-

panies have the right to advertise their products as they see fi t?

Is it morally wrong to advertise a product that is known to cause

health problems?

P ROCESS

Step 1. Collaborate with team members to discuss both sides of

the issue, analyzing the arguments from each perspective.

S tep 2. Prepare the most effective argument for your team’s

perspective, and think about counterpoints to arguments that the

other team may raise.

T EAM TIME

11_ch11_solo.indd 322 28/01/12 2:24 PM

C losing Cases The Closing Case

wraps up the chapter material by

relating the experience of a company

to the business topics discussed within

the chapter.

C LOSING CASE

C ompetition, What Competition?

A pple sold close to one million units of the iPad 2 tablet com-

puter during its launch weekend in March 2011. By comparison,

the original iPad, launched in April 2010, reached the one million

mark twenty-eight days after its debut. 24 By 2011, the original

iPad was the fastest-selling device of all time, measured in

revenue (Microsoft’s Kinect device holds the Guinness world

record for fastest sold, measured by number of units). Apple

released the iPod in 2001, the iPhone in 2007, and the iPad in

2010, and every one of these was an overwhelming success.

02_ch02_solo.indd 56 30/01/12 2:22 PM

E thics and Responsibility Exercises End-of-chapter Ethics and

Responsibility Exercises are designed

to increase students’ understanding

of business ethics and corporate social

responsibility.

E THICS AND RESPONSIBILITY

E thics in Teamwork

B eing a member of a team means that you are accountable for

your actions and the actions of your fellow teammates. Review

the following scenario.

S CENARIO

Imagine you work at an advertising fi rm. You’re on a team that

is developing an ad campaign proposal for a chain of fi tness cen-

tres. The fi rm has been struggling and needs your team to land

this account. At a meeting, one of your teammates reveals that he

has hacked into a competing fi rm’s network and has a draft of its

proposal for the same account. Your teammate wants to steal the

idea and use it in your team’s proposal. Most of your teammates

agree with this idea, but you think it is unethical.

D ISCUSSION QUESTIONS

1 . How would you handle this situation? Would you voice your

objection or go along with the team?

2 . If you decide to voice your objection, do you address the

entire team or speak to members individually? Why?

3 . How would you reconcile your role as a loyal employee and

team player with your need to uphold ethical standards?

07_ch07_solo.indd 204 24/01/12 5:29 PM

G lobal 500 Research Project The end-

of-chapter Global 500 Research Project

is designed so that students can work

individually or in teams to research, explore,

and make informed assumptions about an

assigned Global 500 Company. The project

may be assigned in one chapter only or may

span many chapters.

G LOBAL 500 RESEARCH PROJECT

I NSTRUCTIONS

1. Choose a Global 500 company from Fortune magazine’s

annual rankings at http:/ / money. cnn. com/ magazines/

fortune/ global500/ .

2 . Research:

a . What is the company name? Where is it located? Who is

the CEO?

b . How much revenue did the company generate last year?

c . What products or services does the company offer?

d . What industry is the company in?

e . What is happening in the global or local economy

currently that affects this company?

f . What degree of competition is this company operating

within (oligopoly, monopolistic competition, or perfect

competition)?

g. Use Porter’s Five Forces analysis model to analyze the

competitive environment this company is operating

within. What strategies does this company employ to

beat their competitors at the game of business? How does

having competition actually help a company?

3. Prepare a report and submit to your professor.

02_ch02_solo.indd 56 30/01/12 2:22 PM

00_fm.indd xii00_fm.indd xii 03/02/12 5:19 PM03/02/12 5:19 PM

T he Moment You Know E ducators know it. Students know it. It’s that inspired moment when something that

was diffi cult to understand suddenly makes perfect sense. Our MyLab products have

been designed and refi ned with a single purpose in mind—to help educators create that

moment of understanding with their students.

M yBusinessLab delivers proven results in helping individual students succeed. It

provides engaging experiences that personalize, stimulate, and measure learning for

each student. And, it comes from a trusted partner with educational expertise and an eye

on the future.

T he textbook authors were deeply involved in the creation and adaptation of all

Better Business MyBusinessLab media, ensuring that all online media is effective, relevant,

and closely linked to the textbook content. The result is a seamless learning experience

for students.

S tudents and instructors can make use of the following online resources:

S tudy Plan. MyBusinessLab offers chapter pre-tests that generate personalized

Study Plans that show students exactly the topics that require additional practice. The

Study Plan links to multiple learning aids, such as videos, eText, and fl ashcards. After

students work through the learning aids, they can take a post-test to measure their im-

provement and demonstrate their mastery of the topics.

A udio Chapter Summaries help auditory learners review and understand key chap-

ter concepts. They are also available in mobile format for on-the-go review.

G lossary Flashcards provide a targeted review of the Key Terms in each chapter.

The Glossary Flashcards allow learners to select the specifi c terms and chapters that they

would like to study. The cards can also be sorted by Key Term or by defi nition to give

students greater fl exibility when studying.

P earson eText: MyBusinessLab also includes an eText version of Better Business,

including a complete Glossary and Index. This dynamic, online version of the text is inte-

grated throughout MyBusinessLab to create an enriched, interactive learning experience

for business students. Users can create notes, highlight text in different colours, create

bookmarks, zoom, and click hyperlinked words and phrases to view defi nitions. Pearson

eText allows for quick navigation to key parts of the eText using a table of contents and

provides full-text search.

Explore on MyBusinessLab BizChat Discussion Boards. The BizChats from

the text can be brought to life via discussion boards in MyBusinessLab.

BizSkills Simulations. BizSkills are real-world scenarios that invite students to

assume the role of a decision maker at a company to apply the concepts they have just

learned. Students are scored on the brief, fi ve-minute simulation and then directed to the

eText, quizzes, outlines, and other learning aids to help reinforce the concepts.

M YBUSINESSLAB

RESOURCES

B izSkills: Case

Simulation: Ethics

in the Workplace . Located in

MyBusinessLab.

00_fm.indd xiii00_fm.indd xiii 03/02/12 5:19 PM03/02/12 5:19 PM

xiv Mybusinesslab Resources

D ecision Making Mini-Simulations walk students through key business

decision-making scenarios to help them understand how business decisions are made.

Students are asked to make important decisions relating to core business concepts. At

each point, students receive feedback to help them understand the implications of their

choices in the business environment.

D ocument Makeovers. In Chapters 3, 5, 6, 7, 8, 9, 11, and 12, interactive Document

Makeovers ask students to analyze and correct business documents such as e-mail mes-

sages, letters, memos, blogs, and resumés. Immediate feedback is provided.

V ideo Cases and Web Cases. Each chapter’s Video and Web Case is available on

MyBusinessLab.

Video Case: To access the Chapter 3 Video Case: Patagonia: Ethics and Social

Responsibility, see the Activities folder in the Assessment section

of MyBusinessLab.

03_ch03_solo.indd 90 31/01/12 5:02 PM

Web Case: To access the Chapter 3 Web Case, see the Activities folder in the

Assessment section of MyBusinessLab

03_ch03_solo.indd 90 31/01/12 5:02 PM

V ideo Activities. MyBusinessLab also contains additional videos from Pearson’s

business resource library.

B usiness Plan Project. The simple, concise Business Plan Project is introduced in

Chapter 5. The project and all necessary fi les can be accessed on MyBusinessLab.

C areer Skills Modules. The online Career Skills modules are concise, engaging les-

sons that cover topics of interest and importance to students as they prepare for careers

in the business world.Career Skills modules are available for chapters 1, 5, 6, 8, and 13,

and cover such topics as academic success, effective business plans, business communica-

tion, fi nding a job, and personal fi nance.

A ppendix 13A: Securities and Investments. The online Appendix 13A contains an

in-depth treatment of securities and investments, for those instructors who wish to teach

this material. The Appendix includes Learning Objectives and a number of other peda-

gogical features.

A ll relevant MyBusinessLab resources are listed in the end-of-chapter “MyBusiness-

Lab Chapter Resources.”

M yBusinessLab can be used by itself or linked to any learning management system.

To learn more about how MyBusinessLab combines proven learning applications with

powerful assessment, visit www.pearsoned. ca/ mybusinesslab.

M yBusinessLab—the moment you know.

Decision-Making

Mini-Simulation:

Diversity. Located in

MyBusinessLab.

00_fm.indd xiv00_fm.indd xiv 03/02/12 5:19 PM03/02/12 5:19 PM

B etter Business includes an innovative supplement package for instructors. You can access

the following resources from within MyBusinessLab or from the Instructor’s Resource

Centre at www . . . . U RL to come

I nstructor’s Manual. This valuable resource includes chapter outlines, teaching tips,

weblinks, supplemental activities, a chapter-video correlation guide, and answers to dis-

cussion and end-of-chapter questions. Each answer is tagged with the appropriate level

of Bloom’s Taxonomy.

P owerPoint® Slides. Each chapter presentation includes twenty-fi ve to thirty high-

quality slides. The PowerPoint Slides highlight key points from the text and are fully

customizable.

M yTest and Test Item File. MyTest from Pearson Canada is a powerful online

assessment-generation program that helps instructors easily create and print quizzes,

tests, and exams, as well as homework or practice handouts. The Better Business MyTest

contains multiple-choice, true/ false, short answer, and essay questions—approximately

150 questions in total per chapter. Questions and tests can all be authored online, allow-

ing instructors ultimate fl exibility and the ability to effi ciently manage assessments at any

time, from anywhere. A Test Item File in Microsoft Word® is also a vailable.

Personal Response System Questions. These slides are provided for instructors who

wish to use a PRS to encourage class participation or facilitate in-class quizzes.

I mage Library. The Image Library contains image fi les for all Figures, Photos, and

Tables from the textbook, online Appendix 13A, and the online Career Skills modules.

C BC Video Library. A selection of CBC videos are provided in MyBusinessLab and

as a separate DVD (ISBN: 978-0-13-286322-3). These videos focus on Canadian companies

and discuss business issues from a Canadian point of view. The videos are accompanied

by case summaries, discussion questions, and a chapter-video correlation guide.

B etter Business is also available as a CourseSmart eTextbook. CourseSmart goes

beyond traditional expectations—providing instant, online access to the textbook and

course materials at a lower cost for students (average savings of 60 percent). With instant

access from any computer and the ability to search the text, students will fi nd the content

they need quickly, no matter where they are. And with online tools such as highlighting

and note-taking, students can save time and study effi ciently.

I nstructors can save time and avoid hassle with a digital eTextbook that allows them

to search for the most relevant content at the very moment they need it. Whether it’s

evaluating textbooks or creating lecture notes to help students with diffi cult concepts,

CourseSmart can make life a little easier. See all the benefi ts at www.coursesmart. com/

instructors or www.coursesmart. com/ students.

P earson’s Technology Specialists work with faculty and campus course designers

to ensure that Pearson technology products, assessment tools, and online course materi-

als are tailored to meet your specifi c needs. This highly qualifi ed team is dedicated to

helping schools take full advantage of a wide range of educational resources by assisting

I NSTRUCTOR SUPPLEMENTS

00_fm.indd xv00_fm.indd xv 03/02/12 5:19 PM03/02/12 5:19 PM

xvi Instructor Supplements

in the integration of a variety of instructional materials and media formats. Your local

Pearson Canada sales representative can provide you with more details about this service

program.

P earson Custom Library

F or enrolments of at least twenty-fi ve students, you can create your own textbook by

choosing the chapters that best suit your own course needs. To begin building your custom text, visit www.pearsoncustomlibrary. com. You may also work with a dedicated Pearson

Custom editor to create your ideal text—publishing your own original content or mixing

and matching Pearson content. Contact your local Pearson Representative to get started.

00_fm.indd xvi00_fm.indd xvi 03/02/12 5:19 PM03/02/12 5:19 PM

M ichael Solomon

M ichael R. Solomon, Ph.D. is Professor of

Marketing and Director of the Center for

Consumer Research in the Haub School

of Business at Saint Joseph’s University

in Philadelphia. He also is Professor of

Consumer Behaviour at the Manchester

School of Business, The University of

Manchester, U.K. Prof. Solomon’s pri-

mary research and consulting interests

include consumer behavior, branding,

and marketing applications of virtual

worlds. He has written several textbook

and trade books; his Consumer Behav-

ior text is the most widely-used in the

world. Michael often speaks to business

groups about new trends in consumer

behavior and marketing strategy.

M ary Anne Poatsy,

MBA, CFP

M ary Anne is a senior faculty member at

Montgomery County Community College,

teaching various computer application

and concepts courses in face-to-face

and online environments. She holds a

BA in psychology and education from

Mount Holyoke College and an MBA in

fi nance from Northwestern University’s

Kellogg Graduate School of Manage-

ment. Mary Anne has more t han 11

years of educational experience, ranging

from elementary and secondary educa-

tion to Montgomery County Community

College, Muhlenberg College, and Bucks

County Community College, as well as

training in the professional environ-

ment. Before teaching, she was a vice

president at Shearson Lehman Hutton in

the Municipal Bond Investment Banking

Department.

m [email protected]

K endall Martin, PhD

K endall has been teaching since 1988

at a number of institutions, including

Villanova University, DeSales University,

Arcadia University, Ursinus College,

County College of Morris, and Mont-

gomery County Community College at

both the undergraduate and graduate

level. Kendall’s education includes a

BS in electrical engineering from the

University of Rochester and an MS and

a P hD in engineering from the Univer-

sity of Pennsylvania. She has industrial

experience in research and development

environments (AT&T Bell Laboratories)

as well as experience with several

start-up technology fi rms. At Ursinus

College, Kendall developed a success-

ful faculty training program for distance

education instructors. She makes con-

ference presentations throughout the

year.

k [email protected]

K erri Sheilds

Kerri Shields is a college professor who

enjoys learning as much as she enjoys

teaching. Her education includes a

Computer Programming Diploma from

Centennial College, a Bachelor of Gen-

eral Studies (Arts and Science) from

Athabasca University and an MBA

(Marketing and Finance) from Colum-

bia Southern University. She has taught

information systems, offi ce adminis-

tration, and business courses at Cen-

tennial College, St. Lawrence College

Saint-Laurent, Seneca College, and

Loyalist College both in the face-to-

face and online learning environments.

Before becoming a professor at Centen-

nial College she worked as a consultant

and project manager for a multinational

workforce solutions provider where she

held positions in training and develop-

ment, information technology, manage-

ment, recruitment and selection, sales

and marketing, customer service, and

quality control. The breadth of her work

experiences and her ability to transfer

learning and knowledge from one fi eld

to another is what makes her a unique

and effective professor. As a result of

student nominations, Kerri was selected

from a prestigious group of contenders,

as the recipient of the Government of

Ontario’s Leadership in Faculty Teaching

(LIFT) Award and the Centennial College

Board of Governors Teaching Excellence

Award.

A bout the Authors

FPO

00_fm.indd xvii00_fm.indd xvii 03/02/12 5:19 PM03/02/12 5:19 PM

Thanks to:

T ammy Jones, Sales and Editorial Representative, for believing in me and taking the

initiative to get the ball rolling.

N ick Durie, Acquisitions Editor, for his vision and ability to make the Canadian

adaptation happen.

J ohn Lewis, Developmental Editor, for putting forth 110 percent every day, staying

on top of every task, and sharing his wonderful sense of humour.

P earson Team [[Richard to insert others on the team]]

A nd a big “thank you” to each of the reviewers who provided invaluable feedback

that helped shape the content of the textbook and the onliwne resources that accompany

it. [[List reviewers]]

A cknowledgements

00_fm.indd xviii00_fm.indd xviii 03/02/12 5:19 PM03/02/12 5:19 PM

preface - pearson | the world's learning company | canada

Documents