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August 2020
August 2020
Page Count: 
810 (est)
ISBN (Digital): 

Exploring Business

Version 4.0 By: Karen Collins
Homework system included

This book is available with FlatWorld's Homework System at no additional cost to your students. Learn more

Key Features:

  • Includes COVID-19 Information.
  • Over 200 hyperlinks to videos and webpages enrich online courses, engage students, and reinforce or augment many of the presented topics.
  • The extensive instructors’ manual offers ample material to guide an instructor teaching an in-class, online, or hybrid course. 
  • Free Homework System that grades questions, furnishes feedback to students and class statistics to instructors.
  • The text has an entrepreneurial chapter order that follows the steps an entrepreneur would take in starting a business. This chapter order can be changed to accommodate an instructor’s preference.
  • Covers the “essentials” and maintains academic rigor without burdening students and  instructors with unnecessary detail.
  • End-of-chapter cases on five key areas of skill and knowledge endorsed by the Association to Advance Collegiate Schools of Business (AACSB): Learning on the Web, Career Opportunities, The Ethics Angle, Team-Building Skills, and The Global View.
  • Supportive in-text learning features include:
    • Modular chapter format is built around learning objectives, interim summaries called “Key Takeaways,” and interactive exercises.
    • Active figures, which simulate the process that a faculty member goes through in class when diagramming a concept on the board, one piece at a time.
    • Active exercises, which engage students in active learning and help them master key concepts.
    • Active assessment questions, which provide students with instant feedback and reinforce learning.
    • At the end of each chapter, there are thought-provoking questions, problems, and cases based on well-known companies. They require students to gather information, assess a situation, think about it critically, and reach a conclusion.
  • Optional business plan project for students to work on alongside the course, including an Excel template to prepare financial reports. A “Business Plan Project” packet is available for any instructor wishing to integrate the Business plan project into their course.
  • Integrated Nike Case Study available for instructors who wish to introduce students to business using a dynamic case study. A “Nike Case” packet is available for any instructor wishing to integrate the Nike case into their course.
  • Author-written supplementary materials provide robust instructional support and include an instructor manual, test items, quizzes, PowerPoint lecture slides, and free online homework grading.
  • Customizable

Exploring Business v4.0 is suitable for introduction to business or introduction to entrepreneurship courses taught at the undergraduate level at two- and four-year colleges and universities.

Exploring Business is a complete teaching package in which every component is conceptualized and written by the author to enhance student learning and support successful teaching initiatives. The book’s broad range of features connect with students at every level of preparation and without overwhelming them with details. Exploring Business conveys the excitement of the business world through the use of over 75 real-world examples—and features an optional, running case study for those instructors who want to expose students to case-based learning. An additional, optional business plan project provides a hands-on learning opportunity by giving budding entrepreneurs practice with conceptualizing a new business.

New in This Version:
  • The early impact of the COVID-19 pandemic on the business environment is introduced in Section 1.3 “Getting Down to Business” and coverage of the topic is integrated throughout.
  • Comparison of capitalism and socialism (Chapter 1: The Foundations of Business)
  • Updated information on mergers and acquisitions (Chapter 3: Selecting a Form of Business Ownership)
  • Extensive revisions to ethics discussions now includes the opioid crisis and expanded discussions of environmental crises (Chapter 4: Business Ethics and Social Responsibility)
  • More information about labor unions has been included (Chapter 6: Recruiting, Motivating, and Keeping Quality Employees)
  • Expanded discussion of artificial intelligence (Chapter 7: Product Design and Development)
  • Added subsections on automation, robots, and 3-D printing (Chapter 8: Operations Management in Manufacturing and Service Industries)
  • Coverage of Generation Z (Chapter 10: Marketing: Providing Value to Customers)
  • New discussion of the “Internet of Things” (Chapter 11: Operating in a Digital Marketing and Social Networking Environment)
  • Expanded section on crowdfunding (Chapter 13: Managing Financial Resources)

All Instructor Supplements will be available by August 17, 2020.

Homework System for this title will be live by August 17, 2020.
  • About the Author
  • Acknowledgments
  • Dedication
  • Preface
  • Part 1: Business in a Dynamic Environment

    Chapter 1: The Foundations of Business

  • 1.1 Why Is Apple Successful?
  • 1.2 Introduction
  • 1.3 Getting Down to Business
  • 1.4 What Is Economics?
  • 1.5 Perfect Competition and Supply and Demand
  • 1.6 Monopolistic Competition, Oligopoly, and Monopoly
  • 1.7 Measuring the Health of the Economy
  • 1.8 Government’s Role in Managing the Economy
  • 1.9 Careers in Economics
  • 1.10 Cases and Problems
  • 1.11 Nike Case
  • Chapter 2: Entrepreneurship

  • 2.1 Build a Better Baby and They Will Come
  • 2.2 What Is an Entrepreneur?
  • 2.3 The Importance of Small Businesses to the U.S. Economy
  • 2.4 What Industries Are Small Businesses In?
  • 2.5 Advantages and Disadvantages of Business Ownership
  • 2.6 Starting a Business
  • 2.7 The Business Plan
  • 2.8 How to Succeed in Managing a Business
  • 2.9 Cases and Problems
  • 2.10 Business Plan Project
  • 2.11 Nike Case
  • Chapter 3: Selecting a Form of Business Ownership

  • 3.1 The Ice Cream Men
  • 3.2 Factors to Consider
  • 3.3 Sole Proprietorship
  • 3.4 Partnership
  • 3.5 Corporation
  • 3.6 Other Types of Business Ownership
  • 3.7 Mergers and Acquisitions
  • 3.8 Cases and Problems
  • 3.9 Business Plan Project
  • 3.10 Nike Case
  • Chapter 4: Business Ethics and Social Responsibility

  • 4.1 “Mommy, Why Do You Have to Go to Jail?”
  • 4.2 Misgoverning Corporations: An Overview
  • 4.3 The Individual Approach to Ethics
  • 4.4 Identifying Ethical Issues
  • 4.5 The Organizational Approach to Ethics
  • 4.6 Corporate Social Responsibility
  • 4.7 Environmentalism
  • 4.8 Stages of Corporate Responsibility
  • 4.9 Cases and Problems
  • 4.10 Business Plan Project
  • 4.11 Nike Case
  • Part 2: Operating a Successful Business

    Chapter 5: Managing for Business Success

  • 5.1 Noteworthy Management
  • 5.2 What Do Managers Do?
  • 5.3 Planning
  • 5.4 Organizing
  • 5.5 Directing
  • 5.6 Controlling
  • 5.7 Managerial Skills
  • 5.8 Careers in Management
  • 5.9 Cases and Problems
  • 5.10 Business Plan Project
  • 5.11 Nike Case
  • Chapter 6: Recruiting, Motivating, and Keeping Quality Employees

  • 6.1 The Grounds of a Great Work Environment
  • 6.2 Human Resource Management
  • 6.3 Developing Employees
  • 6.4 Motivating Employees
  • 6.5 What Makes a Great Place to Work?
  • 6.6 Performance Appraisal
  • 6.7 Labor Unions
  • 6.8 Cases and Problems
  • 6.9 Business Plan Project
  • 6.10 Nike Case
  • Chapter 7: Product Design and Development

  • 7.1 Riding the Crest of Innovation
  • 7.2 What Is a Product?
  • 7.3 Where Do Product Ideas Come From?
  • 7.4 Identifying Business Opportunities
  • 7.5 Understand Your Industry
  • 7.6 Forecasting Demand
  • 7.7 Breakeven Analysis
  • 7.8 Product Development
  • 7.9 Protecting Your Idea
  • 7.10 Cases and Problems
  • 7.11 Business Plan Project
  • 7.12 Nike Case
  • Chapter 8: Operations Management in Manufacturing and Service Industries

  • 8.1 The Challenge: Producing Quality Jetboards
  • 8.2 Operations Management in Manufacturing
  • 8.3 Facility Layouts
  • 8.4 Managing the Production Process in a Manufacturing Company
  • 8.5 Graphical Tools: Gantt and PERT Charts
  • 8.6 The Technology of Goods Production
  • 8.7 Operations Management for Service Providers
  • 8.8 Producing for Quality
  • 8.9 Cases and Problems
  • 8.10 Business Plan Project
  • 8.11 Nike Case
  • Part 3: Marketing in an Ever-Changing World

    Chapter 9: Business in a Global Environment

  • 9.1 It’s a Small World
  • 9.2 The Globalization of Business
  • 9.3 Opportunities in International Business
  • 9.4 The Global Business Environment
  • 9.5 Trade Controls
  • 9.6 Reducing International Trade Barriers
  • 9.7 Preparing for a Career in International Business
  • 9.8 Cases and Problems
  • 9.9 Business Plan Project
  • 9.10 Nike Case
  • Chapter 10: Marketing: Providing Value to Customers

  • 10.1 A Robot with Attitude
  • 10.2 What Is Marketing?
  • 10.3 The Marketing Mix
  • 10.4 Pricing a Product
  • 10.5 Placing a Product
  • 10.6 Promoting a Product
  • 10.7 Interacting with Your Customers
  • 10.8 The Product Life Cycle
  • 10.9 The Marketing Environment
  • 10.10 Careers in Marketing
  • 10.11 Cases and Problems
  • 10.12 Business Plan Project
  • 10.13 Nike Case
  • Chapter 11: Operating in a Digital Marketing and Social Networking Environment

  • 11.1 Two Talented Technology Geniuses Merge
  • 11.2 Product
  • 11.3 Pricing
  • 11.4 Placement
  • 11.5 Promotion
  • 11.6 Big Data and Privacy
  • 11.7 Cases and Problems
  • 11.8 Business Plan Project
  • 11.9 Nike Case
  • Part 4: Financing the Company

    Chapter 12: The Role of Accounting in Business

  • 12.1 Rent a Room or a House 
  • 12.2 The Role of Accounting
  • 12.3 Understanding Financial Statements
  • 12.4 Accrual Accounting
  • 12.5 Financial Statement Analysis
  • 12.6 The Profession: Ethics and Opportunities
  • 12.7 Cases and Problems
  • 12.8 Business Plan Project
  • 12.9 Nike Case
  • Chapter 13: Managing Financial Resources

  • 13.1 How to Keep from Going Under
  • 13.2 The Functions of Money
  • 13.3 Financial Institutions
  • 13.4 The Federal Reserve System
  • 13.5 The Role of the Financial Manager
  • 13.6 Understanding Securities Markets
  • 13.7 Financing the Going Concern
  • 13.8 Careers in Finance
  • 13.9 Cases and Problems
  • 13.10 Business Plan Project
  • 13.11 Nike Case
  • Part 5: Bonus Chapters

    Chapter 14: Teamwork and Communications 

  • 14.1 The Team with the RAZR’S Edge
  • 14.2 The Team and the Organization
  • 14.3 Why Teamwork Works
  • 14.4 The Team and Its Members
  • 14.5 The Business of Communication
  • 14.6 Communication Channels
  • 14.7 Forms of Communication
  • 14.8 Cases and Problems
  • 14.9 Business Plan Project
  • Chapter 15: Personal Finances 

  • 15.1 Where Does Your Money Go?
  • 15.2 Financial Planning
  • 15.3 Time Is Money
  • 15.4 The Financial Planning Process
  • 15.5 Cases and Problems
  • Chapter 16: Managing Information and Technology 

  • 16.1 A Winning Hand for Caesars
  • 16.2 Data Versus Information
  • 16.3 Managing Data
  • 16.4 Types of Information Systems
  • 16.5 Computer Networks and Cloud Computing
  • 16.6 Data Communications Networks
  • 16.7 Security Issues in Electronic Communication
  • 16.8 Careers in Computer and Information Technology
  • 16.9 Cases and Problems
  • Chapter 17: The Legal and Regulatory Environment of Business

  • 17.1 Whatever Happened to . . . George McGovern?
  • 17.2 Law and the Legal System
  • 17.3 Criminal Versus Civil Law
  • 17.4 Negligence Torts
  • 17.5 Product Liability
  • 17.6 Some Principles of Public Law
  • 17.7 Cases and Problems
  • Part 6: Appendices

    Chapter 18: Appendix: Introducing Your Business Plan Project

  • 18.1 Choices and Tasks
  • 18.2 Standard Business Plan Format: Instructions
  • Chapter 19: Appendix: Estimating Sales

  • 19.1 Approaches to Estimating Sales
  • Chapter 20: Appendix: Preparing Financial Reports with the Excel Template

  • 20.1 How to Use the Template
  • 20.2 Completing Each Section
  • 20.3 Review Your Income Statements
  • 20.4 Preparing Your Financial Plan Group Report
  • All Instructor Supplements will be available by August 17, 2020.

    Homework System for this title will be live by August 17, 2020.
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    Instructor Manual

    Instructor Manual

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    PowerPoint Lecture Notes

    PowerPoint Lecture Notes

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    Karen collins

    Karen Collins Lehigh University

    Karen Collins (PhD Virginia Tech) is Professor Emerita of Accounting at Lehigh University. Karen developed and directed Lehigh’s Introduction to Business course taken by all first-year business students. Exploring Business and its robust package of support materials is based on Karen's innovative and successful approach to twelve years teaching and directing the course. For her service in this area, Karen was honored with an "Innovation in Teaching Award" from the Middle Atlantic Association of Colleges of Business Administration.

    Karen is the recipient of numerous other teaching awards, including the "Deming Lewis Faculty Award" (for the faculty member who had the strongest influence on the ten-year graduating class); "Stabler Award for Excellence in Teaching" (for the faculty member who best demonstrates a mastery of his or her field and superior ability in communicating it to others), Coopers and Lybrand’s "Excellence in Teaching and Learning Award" (given to ten faculty members nationally in recognition of excellence in teaching), Coopers and Lybrand's "Faculty Internship" (given to one faculty member nationally based on his or her positive influence on students), and the "Andersen Consulting Faculty Fellowship for Excellence in Teaching" (a two-year fellowship given to a faculty member who demonstrates excellence in course development). This last fellowship allowed Karen to work with course designers at the firm’s national headquarters in Chicago in the development of the Introduction to Business course.

    Karen's research interests include quality of life issues, stress, ethnic diversity in the accounting profession, and upward mobility of women in accounting.

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