Carl McDaniel - RAMSDELL DESIGN – Designing attention ... · Dedicated to the memory of my mother, Dr. Edith Gitman, who instilled in me the importance of education and hard work

Lawrence J. GitmanSan Diego State University

Carl McDanielUniversity of Texas, Arlington

©

Dedicated to the memory of my mother, Dr. Edith Gitman, who instilled in me the importance of education and hard work.

Lawrence J. Gitman

To Michelle, Mimi, and Eric.

Carl McDaniel

iv v

Preface xx Prologue 2

Part 1: The Business Environment 11. Law and Enforcement Agencies 32. Making Ethical Decisions and Managing a Socially Responsible Business 21 Appendix: Understanding the Legal and Tax Environment 933. The Constitution as the Foundation of the Legal Environment 39

Part 2: Business Ownership 714. Government Regulation of Business 635. The International Legal Environment 85

Part 3: Managing Organizations 289 6. Nature and Classes of Contracts 2417. The Agreement 2618. Managing Human Resources and Labor Relations 2839. Genuineness of Assent 29910. Consideration 314

Part 4: Marketing Management 31611. Consideration 31712. Legality and Public Policy 339

Part 5: Technology and Information 39513. Form of Contract 36314. Interpretation of Contracts 387

Part 6: Finance 43115. Third Persons and Contracts 40916. Discharge of Contracts 429

Online ResOuRces Online Enrichment Chapter: Managing Your Personal FinancesOnline Enrichment Chapter: Using the Internet for Business SuccessOnline Appendix: Managing Risk and Insurance http://www.thomsonedu.com/introbusiness/gitman

Scoring Guidelines 568 Glossary 577 Endnotes 587 Subject Index 597 Company Index 603

Lawrence J. GitmanCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada.

Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum dolor eget turpis fringilla viverra.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.

Carl McDanielCurabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.


vi

Part 1: The Business Environment 1

1 Understanding Economic Systems and Business 1

What is Finance? 1

Development of Financial Institutions and Intermediaries 5

Nature and Functions of Money 17

Catching the Entrepreneurial Spirit:AllTiedupwithSuccess 18

Empowerment and Employee Participation in the Corporate Multi-National Conglomerate Decision Making Process 19

Financial Career Opportunities, 6 • Basic Requirements of an Effective Financial System, 7 • Financial Functions in Our System, 8

Expanding Around the Globe:YourLaptop:CitizenoftheWorld 44

Supervision: A Professional Perspective 21

Organization of the Financial Markets, 21 • Investor Particiation in the Financial Markets, 22 • Market Efficiency: Concept and Reality, 22

1 Making Ethical Decisions and Managing a Socially Responsible Business 26


Expanding Around the Globe:CleanWater,NoProfit 83

Catching the Entrepreneurial Spirit:SmallCompaniesbutBigHearts 85

Managing Change:CitigroupAttemptstoCreateaNewCulture 85


Development of the Banking System 29

The Supervisor as Team Leader 33


Managers and Leaders: Are They Different? 35

Managerial Authority 37





Appendix: Understanding the Legal and Tax Environment 43

3 Competing in the Global Marketplace 46




Functions of Management 41





Power: The Ability to Influence Others 50


Coordination 52

Part 2: Business Ownership 71

4 Forms of Business Ownership 73

What is Finance? 74

Financial Functions in Our System 76


Need for Effective Communication 80

Channel of the Communication Network 81

Methods of Communication 82

Organization of the Financial Markets, 83 • Investor Particiation in the Financial Markets, 84 • Market Efficiency: Concept and Reality, 85 • Disorganization of the Financial Markets, 86 • Investor Participation and Disillusionment with the International Financial Markets, 87

Barriers to Effective Communication 89

5 Monetary System of the United States 90









Part 3: Managing Organizations 1

6 Management and Leadership in Today’s Organizations 1

What is Finance? 1









7 Designing Organizational Structures 26


Expanding Around the Globe:CleanWater,NoProfit 83







8 Managing Human Resources and Labor Relations 46











Coordination 52

9 Motivating Employees 73

What is Finance? 74








10 Achieving World-Class Operations Management 90









Contents vii

ix

Part 4: Marketing Management 1

11 Creating Marketing Strategy to Meet Customers’ Needs 1

What is Finance? 1









12 Distributing Products in a Timely and Efficient Manner 26


Catching the Entrepreneurial Spirit:SmallCompaniesbutBigHearts 85







13 Technology to Manage Information 46











Coordination 52

14 Motivating Employees 73

What is Finance? 74








Online ResOuRcesOnline Enrichment Chapter: Managing Your Personal Finances 203

Online Enrichment Chapter: Using the Internet for Business Success 205

Online Appendix: Managing Risk and Insurance 207

http://www.thomsonedu.com/introbusiness/gitman

Scoring Guidelines 208

Glossary 210

Endnotes 211

Subject Index 213

Company Index 215

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Mauris lacus. Nunc venenatis dictum augue. Morbi ornare euismod nibh. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Nullam rhoncus ultricies lorem ipsum elementum.

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viii Contents

et, egestas id, sem. Aliquam ante sapien, dictum sit amet, vehicula nec, tincidunt quis, nulla. Quisque interdum sagittis tellus. Suspendisse blandit nisl sit amet Suspendisse blandit nisl sit amet pede. Vivamus sed felis. Aliquam ut leo. Nulla urna lorem, ornare, tincidunt eu, gravida non, odio. Pellentesque celestie erat sollicitudin turpis. Sed imperdiet. Sed sit amet tellus. Aliquam dictum.


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Sed varius quam nec dolor. Phasellus non mauris placerat massa interdum scelerisque. Quisque ultrices, dolor nec cursus tempus, metus ligula faucibus sapien, sit amet porttitor arcu ligula eget neque. Donec tellus. Nam diam lectus, vulputate id, lacinia vitae, dapibus nec, mi. Praesent luctus. Proin mattis congue tortor. Nulla venenatis sem eget risus.

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Mose Alison Charles MingusDrexel University Columbia University

Wendell Berry David QuammenUniversity of Kentucky Montana University

Lester Bowie John SaylesArt Ensemble of Chicago Newark University

Annie Dillard Loudon Wainwright IIICarnegie-Mellon University City College New York

Frank Miller Bill WattersonGotham City University College of Calvin & Hobbes



Lawrence J. GitmanCarl McDanial

x Preface

Pa

Rt

2

Technology and Information

Chapter 6Management and Leadership in Today’s Organization

Chapter 7Designing Organizational Structures

Chapter 8Making Ethical Decisions and Managing a Socially Responsible BusinessAppendix: Understanding the Legal and Tax Environment

Chapter 9Motivating Employees

Chapter 10Achieving World-Class Operations Management

cH

aP

te

R 2

4Making Ethical Decisions

and Managing a Socially

Responsible Business

Learning GoalsAfter studying this chapter, you should be able to

1 What is the human resource management process, and

how are human resource needs determined?

2 How do firms recruit applicants?

3 How do firms select qualified applicants?

4 What types of training and development do

organizations offer their employees?

5 How are performance appraisals used to evaluate

employee performance?

6 What are the types of compensation and methods

for paying workers?

7 What is a labor union and how is it organized?

8 What is collective bargaining, and what are

some of the key negotiation issues?

9 How are grievances between management and

labor resolved, and what tactics are used to force a conttract settlement?

10 What are the key laws and federal agencies affecting

human resource management and labor relations?

11 What trends and issues are affecting human

resource management and labor relations? G

etty

Imag

es

Get

ty Im

ages

Monty Python and the Holy GrailMorbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum ras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum.

Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi.

Curabitur vestibulum.ras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum ras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum which can be a problem.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulumras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum sem felis, semper nec, convallis id, hendrerit nec.

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Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula.

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13

14 Part1:TechnologyandInformation Chapter2:MakingEthicalDecisionsandManagingaSociallyResponsibleBusiness 15



This is an Example of an Head Level TwoCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, fringilla hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent departmentalization pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus open system accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

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1. Proin facilisis wisi nec mauris. Nulla tortor. Etiam auctor dictum sapien. Nunc nonummy justo vitae dolor. Aliquam erat volutpat. Donec nulla. Phasellus sem. Suspendisse nonummy bibendum mi.



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• Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat. Nam malesuada feugiat lacus.

• Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante.

• Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat. Nam malesuada feugiat lacus.

Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat.

This is an Example of an Head Level TwoCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Sem at lacus accumsan malesuada.

1 Explaintheimportanceofassessingtheinternaland

externalenvironmentsasabasisforstrategicplanning.

departmentalizationThe process of collecting information about the external environment to identify and analyze trends

open systemA system that regularly affects and is affected by various and constantly changing forces outside itself

The Dacheng Mall is a prime example of a new generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students over-come economic and political obstacles to busi-

ness ownership. These included business consultants to advise students about start-up procedures, special loans to finance their efforts, and rent and utility subsidies.

These policies and a loan of 230,000 yuan (about $3,750) helped Lu Jun, a 21-year-old student an Nanjing Agricultural University, open her own fashios store in November 2005. Daily sales at Freedom, her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disap-pointing these days. I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation.”

About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001.

About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs.

“Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would get decent jobs and preferable pay right after graduation.” This increasing market orien-tation of both the economy and the education system means that gruadates must become involved in job creation through entrpreneurship. Daily sales at Freedom,

her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job mar-ket is so disappointing these days.

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 mil-lion in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for work-ers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would pg 34

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?

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Ge-ti-hu on the Go




Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius.

Another Number One HeadProin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc,

Role pg Description Example

InformationalRoles

Monitor Seeks out a gathers information relevant to the Find out about legal restrictions on new organization product technology

Disseminator Provides information where it is needed in Providing current production figures to the organization workers on the assembly line.

Spokesperson Transmits information to people outside the Representing the company at a organization shareholders’ meetingInterpersonalRoles

Figurehead Seeks out a gathers information relevant to the Find out about legal restrictions on new organization product technology

Leader Provides information where it is needed in Providing current production figures to the organization workers on the assembly line.

Liaison Transmits information to people outside the Representing the company at a organization shareholders’ meeting

The Dacheng Mall is a prime example of a new generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students over-come economic and political obstacles to busi-ness ownership. These included business consultants to advise students about start-up procedures, special loans to finance their efforts, and rent and utility subsidies.


About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs.

“Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would get decent jobs and preferable pay right after graduation.” This increasing market orien-tation of both the economy and the education system means that gruadates must become involved in job creation through entrpreneurship. Daily sales at Freedom, her boutique, average about 200 pean ($25). Lu hopes to run a profitable business,

however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disappointing these days and nights and days.”

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would pg 34

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?What economic conditions are contributing to Chines students’ interest?

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Using Communities of Practice to Motivate Knowledge Workers

ExHIBIT 26.7 TheManyRolesthatManagersPlayinanOrganizationpg223

eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna

Since Joining the World Trade Organization in 2001, China has continued to embrace tenets of capitalism and grow its economy. China is the world’s largest producer of mobile phones, PCs, and cameras, and the country’s over one billion citizens constitute a gargantuan emerging market. Virus-like expansion of McDonald’s and KFC franchises epitomizes the success of American-style capitalism in China, and Beijing’s bid to host the 2008 Summer Olympics is a symbol of economic openness. Do you think China’s capitalistic trend can continue to thrive under the ruling Chinese Communist Party that opposes worker’s rights, free speech, and democracy along with universal sufferage and disposables?






Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci.

Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum.

Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus


Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada.

Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

This is an Example of a Number One HeadMorbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc.

Shift Demand

Factor To the Right If: To the Left If

Buyers’ incomes increase decreaseBuyers’ preferences/tastes increase decreasePrices of substitute products increase decreaseExpectations about future prices will rise will fallNumber of buyers increases decreases Shift Supply

Technology lowers cost increases costResource prices fall increaseChanges in prices of other products profit of other profit of other that can be produced with the product falls product increases same resourcesNumber of suppliers increases decreasesTaxes lowered increased





“Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would get decent jobs and preferable pay right after graduation.” This increasing market orien-tation of both the economy and the education system means that gruadates must become involved in job creation through entrpreneurship. Daily sales at Freedom, her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole

aim,” sho says. “The job market is so disappointing these days.

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside. With such intense competition for jobs. “Under the previous planned economy, univer-sity graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the govern-ment to assign them jobs and they would pg 34


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The Dacheng Mall is a prime example of a new generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students overcome economic and political obstacles to business ownership. These included business consultants to advise students about start-up procedures, special loans to finance their efforts, and rent and utility subsidies.




however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disappointing these days.

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies.

I have to do something to get myself better prepared. About 30 percent of china’s university students would like to join Lu. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for work-ers who lost their jobs at state factories.

Under the previous planned economy, univer-sity graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the gov-ernment to assign them jobs and they would pg 34


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Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis

id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus dignissim neque.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc,

eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec

vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

This is an Example of an Head Level Two Going to a Second Line Which Probably Doesn’t Happen Very OftenMorbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum.

Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis.

Since Joining the World Trade Organization in 2001, China has continued to embrace tenets of capitalism and grow its economy. China is the world’s largest producer of mobile phones, PCs, and cameras, and the country’s over one billion citizens constitute a gargantuan emerging market. Virus-like expansion of McDonald’s and KFC franchises epitomizes the success of American-style capitalism in China, and Beijing’s bid to host the 2008 Summer Olympics is a symbol of economic openness. Do you think China’s capitalistic trend can continue to thrive under the ruling Chinese Communist Party that opposes worker’s rights, free speech, and democracy for the millions of Chinese citizens?

Definethecomponentsoftheinternalandtheexternalbusinessenvironments.

Whatfactorswithintheeconomicenvironmentaffectbusi-nesses?

Whydodemographicshiftsandtechnologicaldevelop-mentscreatechallengesandnewopportunities.


Productmarkets

Households

Money income(rent, wages, interest,

profits)Resourcemarket Inputs

(natural resources,labor, capital,

entrepreneurship)

Government(federal, state,

local)

Revenues axes

Public goodsand services

Outputs(goods and

services)

Businessrevenues

Costs

Moneyspent by

consumers

Businesses

T

Inputs

axes

Revenues

OutputsPublic goods andservices, business

revenues

T

Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit










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Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.






viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.


Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.



Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna














Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec

vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.



Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.

Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.


Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget

Since Joining the World Trade Organization in 2001, China has continued to embrace tenets of capitalism and grow its economy. China is the world’s largest producer of mobile phones. Do you think China’s capitalistic trend can continue to thrive under the ruling Chinese Communist Party that opposes worker’s rights, free speech, and democracy?





China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories.

With such intense competition for jobs, graduates must seek alternatives to traditional jobs throughout the economy.


her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says.

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside. With such intense com-petition for jobs. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Ji.

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest?Why is entrpreneurship an important com-ponent in the shift away from a communist economic system in China and elsewhere throughout the various and energetic Pacific Rim countries that are economic powers?

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10 Explaintheimportanceofassessingtheinternal

andexternalenvironmentsasabasisforstrategicplanning.



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nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.


Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum









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Ge-ti-hu on the GoCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.





Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra


nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.


Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula.

Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestibulum dignissim, arcu. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Donec vestibulum urna. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.

Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis.

Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum varius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique.


Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc.

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I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs. “Under the previous planned economy, university gradu-ates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would pg 34

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?What economic conditions are contributing to Chines students’ interest in becoming business owners?

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Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper

1 Explaintheimportance

ofassessingtheinternalandexternalenvironmentsasabasisforstrategicplanning.

2 Explaintheimportance

ofassessingtheinternalandexternalenvironmentsasabasisforstrategicplanning.









Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu

Comparative advantage, 131Consumption satiation, 121Environmental scanning, 125Form utility, 123Marketing slightly, 127Target markets, 126Marketing channel power, 131Selection criteria, 142Perfectly (infinitely) elastic and unitary

demand, 153Specialization of labor, 149Supply-chain management, 148

Sustainable advantage, 147Systems concept, 139Time utilities, 137Comparative advantage, 133Consumption satiation, 143Environmental scanning, 153Form utility, 157Marketing slightly, 159Target markets, 152Marketing channel power, 151Selection criteria, 144Selective distribution, 147

Keyterms

1. Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestitbulum dignissim, arcu. (Information)

2. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. (Interpersonal)

3. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante. (Systems)

4. Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies.raesent hen-drerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. (Technology)

5. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. (Interpersonal)

6. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis.raesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis par-turient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. (Information)

7. Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum varius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. (Interpersonal)

8. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. (Technology)

9. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique. Donec erat. In ali-quam celestie arcu. (Systems)

Preparing for tomorrow’s Workplace: scans

10. Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestitbulum dignissim, arcu. (Information)

11. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. (Resources)

12. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo.

ethics activity

Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum varius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique.


Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum fau-

cibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellen-tesque purus et turpis.Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique.

ETHICAL DILEMMA Is paying the advisory fee a bribe or an acceptable cost of doing business in that area of the world? What should the executives do before agreeing to pay the fee?

Sources: Jane Easter Bahls, “Illicit Affairs? If you Do Business Overseas, Be Certain Your ‘Administrative fees’ Aren’t Really Illegal Bribes,” Entrepreneur, September

1. Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestitbulum dignissim, arcu. Aliquam ac dolor eget nulla elementum http://tcc.mac.doc.gov. Placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi.

2. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante. Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies.raesent hendrerit vulputate ligula. Nullam justo. http://x-rates.com. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et mag-nis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi.

3. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. http://foreign-trade.com. Maecenas pellen-tesque purus et turpis.raesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi.

4. Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum varius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non in, blandit at, purus. http://tcc.mac.doc.gov. Suspendisse potenti.

5. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique. Donec erat. In ali-quam celestie arcu. Ut lacus. In hac habitasse platea dictumst. http://fita.org. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestitbulum dignissim, arcu.

6. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. http://tcc.mac.doc.gov. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod

Working the net






Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestibulum dignissim, arcu. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Donec ves-tibulum urna. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.

Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultri-ces mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis.

Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum var-ius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique. Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestibulum dignissim, arcu. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Donec ves-tibulum urna. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.


Critical Thinking QuestionsMorbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin conse-quat porta dolor. Nullam mi.

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creative thinking caseWe Want our MTV

(International)

Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestibulum dignissim, arcu. Aliquam ac dolor eget nulla elementum placerat. Praesent hen-drerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Donec vestibu-lum urna. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.

Morbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultri-ces mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin consequat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.

exploring Your career Video case

Big Blue Turns Small Businesses

into Large Competitors

Proin ut purus. Vivamus neque. Morbi sed ipsum. Duis interdum imperdiet nibh. Vestibulum var-ius, sapien at rutrum venenatis, purus erat fringilla metus, eget blandit nunc nulla ut purus. Morbi ac lectus. Duis lorem. Pellentesque quam turpis, interdum non, viverra in, blandit at, purus. Suspendisse potenti. Praesent aliquet accumsan erat. Proin sed lorem at massa feugiat tristique. Ut lacus. In hac habitasse platea dictumst. Fusce nonummy. In lectus nulla, suscipit eget, facilisis sit amet, vestibulum dignissim, arcu. Aliquam ac dolor eget nulla elementum placerat. Praesent hendrerit vulputate ligula. Nullam justo. Integer et dolor vitae elit dignissim imperdiet. Donec ves-tibulum urna. Ceci sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Maecenas euismod interdum wisi. Mauris nonummy auctor mauris. Pellentesque nec nisl vitae nunc dictum mollis. Phasellus leo. Donec porttitor nunc quis est. Pellentesque ante.


Critical Thinking QuestionsMorbi viverra sodales ligula. Curabitur eget ligula nec libero tristique ultricies. Duis porttitor ultrices mauris. Vestibulum faucibus lectus quis lorem. Phasellus bibendum sapien id sem. Nulla aliquet est eget nunc venenatis venenatis. Suspendisse nec felis nec wisi rutrum adipiscing. Duis non urna quis nulla faucibus adipiscing. Proin conse-quat porta dolor. Nullam mi. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos hymenaeos. Etiam scelerisque lectus non risus. Morbi vitae dolor. Aenean dictum. Duis accumsan metus in nunc. Maecenas pellentesque purus et turpis.

Sources: Jane Easter Bahls, “Illicit Affairs? If you Do Business Overseas, Be Certain Your ‘Administrative fees’ Aren’t Really Illegal Bribes,” Entrepreneur, September 2004, p. 80: Paul Burnham Finne, “Shaking Hands, Greasing Palm,” New York Times, May 17, 2005, p. C10.

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Understanding the Legal and Tax EnvironmentCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum.


The Main Sources of LawCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.

Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis.

Second Level HeadCurabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros lacinia sit amet arcue.

Head Level Three Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros.


Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent

pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula.

This is an Example of an Head Level Two Going to a Second LineCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. PraesentCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc.

Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.



This is an Example of an Head Level TwoCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.


Head Level Three Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin

36 Part1:TechnologyandInformation Appendix:UnderstandingtheLegalandTaxEnvironment 37








Appendix Appendix

38 Chapter2:MakingEthicalDecisionsandManagingaSociallyResponsibleBusiness 39





Continuing Case H1Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur

scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros lacinia sit amet arcue.


Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula.

This is an Example of a Continuing Case Head Level One Going to a Second LineCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. PraesentCras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc.

Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor

eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.



Another Continuing Case Head Level 1Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, departmentalization hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt open system quam et ligula.


Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie

id, dignissim id, eros. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula.


Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros lacinia sit amet arcue.

Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat.

Critical Thinking QuestionsCurabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros lacinia sit amet arcue.Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat.

Sources: Curabitur ac dolor nec risus tempor tincidunt. Aenean dui wisi, lobortis nec, nonummy vel, lacinia sit amet, arcu. Pellentesque fringilla convallis nisl. In lorem metus, sollicitudin non, cursus, laoreet eu, purus. Donec vel dui. Nullam eleifend augue in velit. Morbi cursus magna nec ligula. Cras auctor varius ante. Curabitur scelerisque diam eget lectus. Morbi felis nunc, varius at, celestie id, dignissim id, eros lacinia sit amet arcue. Quisque metus. Sed egestas leo ut lacus consectetuer auctor.Sed ac neque. Cras faucibus. Suspendisse feugiat mi sit amet ante. Donec facilisis mauris in lectus. Praesent feugiat.

•

•

•

•

•

•

•

Apple, Inc.continuing case

Part 1: Managing the Business of Apple, Inc.

41

Aability-to-pay principle lorem ipsum dolor sit amet, consect teteur

adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

absolute advantage ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

accommodating monetary policy duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

accord lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.

accounting profit ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

adaptive expectations am liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum.

administered prices lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy. Bnibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat.

AFL-CIO vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

Agency for International Development (AID) ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit. Lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure .

aggregate demand curve dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio.

aggregate production function dignissim qui blandit praesent luptatum zzril delenit augue duis dolor feugait nulla facilisi.Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation.

aggregate supply curve aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero

eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit.

allocative efficiency augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

annually balanced budget ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam.

arbitration quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat.

Bbalance of payments vel illum dolore eu feugiat nulla facilisis at vero

eros et accumsan et iusto.balance of payments deficit odio dignissim qui blandit praesent

luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

balance sheet ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum.

bank panics zzril delenit augue duis dolore te fe. Nissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

bar chart ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat.

barriers to entry vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum. Lorem ipsum dolor sit amet.

barter consect teteur adipiscing elit, sed diam nonummy. Bnibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

blank

4342 Glossary

benefit principle uis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

big push orem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

bilateral monoply ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit. Lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure . Dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio.

bimetallism dignissim qui blandit praesent luptatum zzril delenit augue duis dolor feugait nulla facilisi.Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation.

black markets ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

block grant uis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim.

Ccapital qui blandit praesent luptatum zzril delenit augue duis dolore te

feugait nulla facilisi.capital account Lorem ipsum dolor sit amet, consect teteur adipiscing

elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

cartel wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

categorical grant autem vel eum iriure dolor in hendrerit in vulputate. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

chiseling wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

circular flow model autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan.

closed shops et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit.

collusion sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

commercial policy lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

communication wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat.

comparable worth duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

comparative advantage lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.

competitive fringe ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo

consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

concentration ratio am liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum.

constant cost industry orem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy. Bnibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat.

constrained sales maximization vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

consumer durable goods wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit. Lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure.

consumer surplus dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio.

contract law dignissim qui blandit praesent luptatum zzril delenit augue duis dolor feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation.

coordinates aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit.

craft unions augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

credit crunch ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam.

cross elasticity of demand quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat.

Ddebasement of money vel illum dolore eu feugiat nulla facilisis at vero

eros et accumsan et iusto.decrease in demand odio dignissim qui blandit praesent luptatum zzril

delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consect teteur adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

decreasing cost industry ut wisi enim ad minim veniam, quis nostrud exerci tation ullam corper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse lucidio consequat, vel illum dolore eu feugiat

Chapter 11 K. Voight, “Top Dogs,” The Wall Street

Journal, 15 March 2002, W1.2 T. Carvell, A. Horowitz & T. Muha, “The 101

Dumbest Moments in Business,” Business 2.0, April 2002, 64.

3 N. Byrnes & J. Merritt, “Professional Services: The Help Needs Help.” Business Week, 13 January 2003, 129.

4 Ibid.5 Pate, “Analyst Sees Cracks Growing in

Home Depot’s Sales.”6 C. Terhune, “Retail Giant Aims to Spur

Sales with Less-Cluttered Stores, Increased Customer Service,” The Wall Street Jounal, 8 March 2001, B1.

7 R. Stagner, “Corporate Decision Making,” Journal of Applied Psychology 53 (1969): 1-13

8 D. W. Bray, R. J. Campbell, & D. L. Grant, Formative Years in Business: A Long-Torm AT&T Study of Managerial Lives (New York: Wile, 1993)

9 Ibid.










9 Ibid.10 K. Voight, “Top Dogs,” The Wall Street









19 Ibid.










9 Ibid.





4 Ibid.

5 Pate, “Analyst Sees Cracks Growing in Home Depot’s Sales.”

6 C. Terhune, “Retail Giant Aims to Spur Sales with Less-Cluttered Stores, Increased Customer Service,” The Wall Street Jounal, 8 March 2001, B1.






13 N. Byrnes & J. Merritt, “Professional Services: The Help Nee Help.” Business Week, 13 January 2003, 129.






19 Ibid.








4544 EndNotes

AAbility to pay principle, 82Absolute advantage, 700Accelerated cost recovery system, 217Accommodation party, 676-677Accord, 447Accountants

fraud liability of, 501-502liability for malpractice, 492-503limitations on liability for malpractice, 487-

488standard of conduct for, 492

Actionchoices in, 0derivative, 10

AgentAuthority of, 870-878

classifications of, 854corporate, 1073-1074coupled with an inters, 854defined, 850

Agreementeffecting public welfare, 365contrary to public policy, 365effect of illegality on, 366effect of partial illegality on 361evading statutory protection, 367;

Airbill, 565Aktiengesellschaft (A.G.), 92Alteration, 714

BBailee beetle bailee

defined, 5duties of, 9-549liability of 5

Bailiffs, 13Balance sheet test, 791Bailor: defined, 5

duties of, 549implied warranty of, 550

Balance sheet test, 791Bank, depository, 691Battery, 232Bearer: defined, 676Bearer paper, 689Beneficiary, 838

contingent, 838contingent incidental, 427primary, 838

Benefits, unemployment, 668Bequest, 1138Bicameral, 45Bilateral contract, 264Bill of exchange, 674

Bill of ladingdefined, 565negotiable, 565nonnegotiable, 565

Bill of sale, 593Binder: defined, 811Blackmail, 190Blocking laws, 103Blue sky laws, 1036Book value, 1030Branches, of government

executive, 45judicial, 45legislative, 45

Bribery, 190Broker, insurance, 806Building, 1089Bulk transfers, 568Burden of proof, in bailments, 549Burglary, 196Burning to defraud, 197Business judgment rule, 1065Bylaws, 1020

CCapital, 1030Capital stock, 1030Case law, 4Cash surrender value, 840Cash tender offer, 1045Central filing, 765Certificate

of deposit, 675of incorporation, 997share, 1030

Certified check, 734Charge, 18Charging order, 968Charter, 997Computer raiding, 239Computers

contract law and, 230criminal law and, 223damage to, 240defamation by, 242diverted delivery by, 239

Concurrent condition, 408Conditional gift, 4Conditional sale, 580Condominium, 1096Conference pretrial, 16Confidence game, 194Confirmation, 800Conflict of interests, 1098Conglomerate, 1012

Consequential loss, 470Consideration

adequacy of ,346defined, 334effect of absence of 334in employment contracts, 345exceptions to the law of, 346failure of, 336

Consignee, 565Consignment, selling on, 569Consignor, 565Consolidation, 1009Conspiracy, 180Constable, 13ConstitutionCharacteristics of living, 50

fefined, 44interpreting and amending, 46limitation on government, 44

Contract bailment, 8Contract carrier, 565Contract law, computer and, 230Contractor, independent, 8Contractual capacity; defined, 298

double aspect of, 298Conversion, 224Convertible shares, 1031Cooperative, 955Copartnership, articles of, 984Court

of appeals, 14bankruptcy, 787civil, 8clerk of, 13contempt of, 8creation of law by, 37criers,13criminal, 8county and district, 15defined, 8district, 14federal, 13Intermediate, 14nature of jurisdiction, 8not of record, 8officers of the, 13organization of, 13;

Cover, 659Credit, letter of, 778Credit, sales on, 371Credit card crime, 194Credit cards, 165Criers, court, 13Criminal court, 8Criminal liability, basis of, 178



9 Ibid.



















19 Ibid.






Home Depot’s Sales.”

6 C. Terhune, “Retail Giant Aims to Spur Sales with Less-Cluttered Stores, Increased Customer Service,” The Wall Street Jounal, 8 March 2001, B1.



9 Ibid.



















19 Ibid.



















19 Ibid.











Journal, 15 March 2002, W1.

4746 CompanyIndex

AAAMCO Transmissions, 164Abercrombie & Fitch, 61, 122, 417Ace Hardware, 163Ahold USA, 91Albertsons, 117, 150, 154, 230Allstate Insurance, 431Amazon.com, 4, 5, 15, 19, 22, 26, 59, 92, 115,

178, 234, 257, 345,America Online, 4America West, 146American Airlines, 111, 146American Eagle Outfitters, 417American Express, 90American Stores, 233Amoco, 110Amway, 187Ann Klein II, 359Ann Taylor, 228, 233, 359Archer Farms, 134Armani, 358, 359ASDA, 6Asterix, 124AT&T, 117,AutoNation, 59, 128Avon Products, 117, 125, 158

BBanana Republic, 60, 314Barnes & Noble, 18, 38, 39, 61, 122, 383, 459Bass Clothing, 169Bass Hotels and Resorts, 121Bath & Body Works, 521Bed, Bath & Beyond, 13Bell Atlantic, 453Benetton, 166, 242, 262, 409But Buy, 13, 177, 237, 549Black & Decker, 133, 508Blockbuster Video, 13, 519Bloomingdale’s, 251, 262, 329, 345, 364, 376,

384, 425Bluefly.com, 564Body Shop, 166, 233, 236Bon Marche, 515Borders, 41-42, 117Boston Beer Company, 196Burger King, 82, 200, 247, 374, 421, 469

CCalvin Klein, 345Cambridge Towels, 234CarMax, 59, 128CBS, 424CDNow, 8, 114, 460Cement, 76

Century 21 Real Estate, 164Chapters, 176Charles Schwab, 234Chaus, 269Christian Dior, 345Circle K, 123Circuit City, 13, 117, 262, 549Coach, 195Coca-Cola, 109, 195, 382, 548Columbia Sportswear, 194CompUSA, 13ConAgra, 158Converse, 76Cool Savings, 433Crate & Barrel, 233

DDayton Company 253Delia, 67, 355Dillard Department Stores, 251, 359, 314, 344Dior, 353Discover Card, 70, 450Disney Stores, 505,DKNY, 345, 357Dollar-General, 21, 48-52, 88, 117, 233, 344, 262Dollar Tree Stores, 417Domino’s Pizza, 164, 200, 434, 454Dorothy Lane Market, 455Dress Barn Inc., 417Dunkin’ Donuts, 164A

EEAMCO Transmissions, 164Ebercrombie & Fitch, 61, 122, 417Ece Hardware, 163Ehold USA, 91Elbertsons, 117, 150, 154, 230Ellstate Insurance, 431Emazon.com, 4, 5, 15, 19, 22, 26, 59, 92, 115,

178, 234, 257, 345,Emerica Online, 4Emerica West, 146Emerican Airlines, 111, 146Emerican Eagle Outfitters, 417Emerican Express, 90Emerican Stores, 233Emoco, 110Emway, 187Enn Klein II, 359Enn Taylor, 228, 233, 359Ercher Farms, 134Ermani, 358, 359ESDA, 6Esterix, 124ET&T, 117,

EutoNation, 59, 128Evon Products, 117, 125, 158

FFanana Republic, 60, 314Farnes & Noble, 18, 38, 39, 61, 122, 383, 459Fass Clothing, 169Fass Hotels and Resorts, 121Fath & Body Works, 521Fed, Bath & Beyond, 13Fell Atlantic, 453Fenetton, 166, 242, 262, 409Fut Buy, 13, 177, 237, 549Flack & Decker, 133, 508Flockbuster Video, 13, 519Floomingdale’s, 251, 262, 329, 345, 364, 376,

384, 425Fluefly.com, 564Fody Shop, 166, 233, 236Fon Marche, 515Forders, 41-42, 117Foston Beer Company, 196Furger King, 82, 200, 247, 374, 421, 469

GGalvin Klein, 345Gambridge Towels, 234GarMax, 59, 128GBS, 424GDNow, 8, 114, 460Gement, 76Gentury 21 Real Estate, 164Ghapters, 176Gharles Schwab, 234Ghaus, 269Ghristian Dior, 345Gircle K, 123Gircuit City, 13, 117, 262, 549Goach, 195Goca-Cola, 109, 195, 382, 548Golumbia Sportswear, 194GompUSA, 13GonAgra, 158Gonverse, 76Gool Savings, 433Grate & Barrel, 233

HHayton Company 253Helia, 67, 355Hillard Department Stores, 251, 359, 314, 344Hior, 353Hiscover Card, 70, 450Hisney Stores, 505,HKNY, 345, 357

Criminal libel, 194Criminal nuisance, 148Cross complaint, 16

DDamages

compensatory 467exclusion of, 661exemplary, 465limitations of, 661liquidated, 475

Date, record, 10Debt security, 1034Deed of trust, 1144De facto corporation, 1009Definite, 683Demand, 50-58, 369-397

capital, 625-626changes in, -58, 63-64

Derived, 580Discrimination, 641-642

fluctuating, 547interdependent, 580labor, 581-583

Demand Curve, Demand deposits, 238Demand schedule, Demography, 741Demsetz, Harold, 447Dependent variable, 11Depository Institutions 137Deregulation and Monetary Control Act of

1980, 499Depreciation, 118Depression, 110, 115-123Derived demand, 580Differential rent, 502-504Discount rate, 276-280Discounting, 276Diseconomics of scale, 475Disposable income, 129Dissaving, 189Drive to maturity, 747Duarte, Jose Napoleon, 615Dumping, 9

EEconomics, 4

abstract thinking and theory, 795as an avocation, 809-810benefits and costs of studying, 793careers in, 799of crime, 375-378

Economies of scale, 474-478Economic development, 475, 1001-1004Efficiency of taxes, 81Eisenhower administration, 370Elastic, 401Elasticity, 396-398

military recruiting, 411-413policy applications, 411-414recruiting students, 414taxes 414-417total revenue, 406

Employment, 17, 147-149Environment, 774-776Excess capacity, 2-4Excess reserves, 260Exchange, benefits of, 699

Exchange control,732-733Excise tax, 414Expected yield, 248Explicit costs, 466Export, 98-99External benefit, 661-662Externality, 660Extrapolative expectations, 343

FFactor market, 435, 283Factors of production, 33,345Fair rate of return, 565-566Fair trade, 712-735Fallacies, common, 14-16Farm policies

conflicting, 692recent, 691

Fascism, 764Featherbedding, 601Fed

function of, 270the Depression, 307use of its tools, 278-280

Final goods, 121Financing methods, 234Firms, 450

nonprofit, 4in theory, 445-447in two markets, 579why they go abroad, 715

Fiscal federalism, 75Fiscal policy, 1, 206

budget deficits, 220-226how it works, 208-211implementing, 211-218is it necessary, 206-208monetarist criticisms of, 314-320open economy, 219pro and con 218-220

Fischer, Irving, 159Fixed factors, 455Fixed investment, 125Floating rates, 731-733

watching currencies under, 733Flow, 12, 95; variable, 12Flows, 12Food Security Act of 1985, 691-692Ford, Gerald, 571Ford, Henry, 406Ford Tax Rebate, 217Foreign demand, shifts in supply and demand,

719, 720Foreign demand and supply, 54Foreign exchange market, 718-723

government intervention, 712-722macroeconomic implications, 721

Foreign labor, cheap, 711Forward market, 721Fractional reserve banking, 241Frank, Robert H., 645Free riders, 75; problem 1234-1235Freedman, Audrey, 615-616Freedom, 67Freeman, Richard, 605Frictional unemployment, 105Friedman, Milton, 6, 8, 9Frisch, Ragnar, 6Fuchs, Victor, 644

Full bodied money, 240

GGains from trade, 699Game theory, 544Gap Island money, 242Garn, Albert H., 544General egalitarians, 648Geographic mobility, 645Geometry, 23-24George, Henry, 622Gephart, Richard, 692Glasnost, 784Glass, Carter, 266Goals, determining your own, 801Gold buffs, 728

historical experience, 729standard, 727-729

Goldfarb, Robert, 382Goldfield, Stephen, 317Goldsmiths, 240-241Gompers, Samuel, 608Gorbachev, Mikhail, 782Gosplan, 777Gould, Jay, 607Government, 18

barriers to entry, 1function of, 75-78

Growth of, 3how much, 73income distribution, 649law and economics, 71-78paying for, 74-75role of in private income redistribution, 646government expenditures, 206failure and market failure, 688-691intervention, 666-668regulation, 3-354sector, 124-126spending and taxation, 87-88transfer programs in practice, 6where are we left, 683

Government-directed development of LDCs, versus laissez-faire 749-750

Graduate school calendar, 808Gramlich, Edward, 382Gramm, Phil, 713Gramm-Rudman-Hollings Act 221-222Graphs

misleading, 29without numbers, 27

Great Depression, 111-115, 173, 178, 201, 325, 456-459, 678, 789, 799

Keynesian explanation of, 178-181stabilization policy, 114-115

Great Industrialization Debate, 769-770Great Leap Forward, 770Greenbacks, 241Gross National Product (GNP), 121-126

HHamilton, Alexander, 475Hand, Learned, 568Hansen, Alvin, 198Harberger, Arnold C., 0Harding, William, 610Harking, Tom, 692Hart-Scott-Rodino Antitrust improvement Act,

567-568

48 CompanyIndex

Hollar-General, 21, 48-52, 88, 117, 233, 344, 262Hollar Tree Stores, 417Homino’s Pizza, 164, 200, 434, 454Horothy Lane Market, 455Hress Barn Inc., 417Hunkin’ Donuts, 164A

IIAMCO Transmissions, 164Ibercrombie & Fitch, 61, 122, 417Ice Hardware, 163Ihold USA, 91Ilbertsons, 117, 150, 154, 230Illstate Insurance, 431Imazon.com, 4, 5, 15, 19, 22, 26, 59, 92, 115,

178, 234, 257, 345,Imerica Online, 4Imerica West, 146Imerican Airlines, 111, 146Imerican Eagle Outfitters, 417Imerican Express, 90Imerican Stores, 233Imoco, 110Imway, 187Inn Klein II, 359Inn Taylor, 228, 233, 359Ircher Farms, 134Irmani, 358, 359ISDA, 6Isterix, 124IT&T, 117,IutoNation, 59, 128Ivon Products, 117, 125, 158

JJanana Republic, 60, 314Jarnes & Noble, 18, 38, 39, 61, 122, 383, 459Jass Clothing, 169Jass Hotels and Resorts, 121Jath & Body Works, 521Jed, Bath & Beyond, 13Jell Atlantic, 453Jenetton, 166, 242, 262, 409Jut Buy, 13, 177, 237, 549Jlack & Decker, 133, 508Jlockbuster Video, 13, 519Jloomingdale’s, 251, 262, 329, 345, 364, 376,

384, 425Jluefly.com, 564Jody Shop, 166, 233, 236Jon Marche, 515Jorders, 41-42, 117Joston Beer Company, 196Jurger King, 82, 200, 247, 374, 421, 469Jorders, 41-42, 117Joston Beer Company, 196Jurger King, 82, 200, 247, 374, 421, 469

KKalvin Klein, 345Kambridge Towels, 234KarMax, 59, 128KBS, 424KDNow, 8, 114, 460Kement, 76Kentury 21 Real Estate, 164Khapters, 176Kharles Schwab, 234Khaus, 269

Khristian Dior, 345Kircle K, 123Kircuit City, 13, 117, 262, 549Koach, 195Koca-Cola, 109, 195, 382, 548Kolumbia Sportswear, 194KompUSA, 13KonAgra, 158Konverse, 76Kool Savings, 433Krate & Barrel, 233

LLayton Company 253Lelia, 67, 355Lillard Department Stores, 251, 359, 314, 344Lior, 353Liscover Card, 70, 450Lisney Stores, 505,LKNY, 345, 357Lollar-General, 21, 48-52, 88, 117, 233, 344, 262Lollar Tree Stores, 417Lomino’s Pizza, 164, 200, 434, 454Lorothy Lane Market, 455Lress Barn Inc., 417Lunkin’ Donuts, 164A

MManana Republic, 60, 314Marnes & Noble, 18, 38, 39, 61, 122, 383, 459Mass Clothing, 169Mass Hotels and Resorts, 121Math & Body Works, 521Med, Bath & Beyond, 13Mell Atlantic, 453Menetton, 166, 242, 262, 409Mut Buy, 13, 177, 237, 549Mlack & Decker, 133, 508Mlockbuster Video, 13, 519Mloomingdale’s, 251, 262, 329, 345, 364, 376,

384, 425Mluefly.com, 564Mody Shop, 166, 233, 236NNBC, 7NBC Universal, 172NEC, 60, 245, 345, 456, 789, 790, 795Nestle, 147Netscape, 64-65Nickelodeon, 218Nike, 81, 87, 98,Nissan, 12, 23, 34, 45, 56, 67, 78, 89Nokia, 38, 76Nordstrom Inc., 83Norrell Corporation, 84Nortel, 210, 214Northwest Airlines, 35Novartis, 20, 45Novel, 367Nucor, 383NutraSweet, 74

OOldsmobile, 389Oneworld, 378Oracle Corp., 389Orbitz, 90Otis Elavator Co., 38Outback Steakhouse, 178, 389, 456, 789

PPan Am, 178Panera Bread Company, 128, 389Paramount Film Studios, 128PayPal, 89PeopleSoft, 12, 23, 34, 45, 56, 67, 78, 89PepsiCo Inc., 12, 23, 34, 45, 56, 67, 78, 89,Peroni, 233PetsHotel, 78PetsMart, 78Petters Group, 89Pfizer Inc., 89Philip Morris, 17Pier 1 Imports, 34Pixar, 288-289Pizza Hut, 234Polaroid Corp., 345Polo Ralph Lauren Corp., 83Pontiac, 78-79Porsche, 345Post, 278Pratt & Whitney, 234Procter & Gamble, 83-84, 97, 100, 103, 105, 106Prudential, 141

QQantis-Air, 25Quaker, 278Quaker Oats, 896Quest, 59

RRadisson, 49Ranbax, 156Reebox International, 99Renault, 234RMC, 28Rockfish, 789Royal Dutch Shell, 129

SSaab, 4Safeway, 389Sam’s Club, 89Samsung, 791, 89SAP, 245Sara Lee Corporation, 189SBC Communications 52Schering-Plough, 475Sears, Roebuck and Co., 128, 234, 345, 456Sesame Street Workshop, 246-2477-Eleven, 282Sheraton, 345Sikorsky, 238Sirius, 78-79Skechers USA, 18Sony, 283-285, 345, 456, 678, 789Southwest Airlines, 24, 35-36, 123, 234, 345Sprint, 42Starbucks, 98Subway, 78Sun Microsystems, 34

TTarget Stores, 89Thai Airlines, 783M, 78TIAA-CREF, 67, 78, 110

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“Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would get decent jobs and preferable pay right after graduation.” This increasing market orien-tation of both the economy and the education system means that gruadates must become involved in job creation through entrpreneurship. Daily sales at Freedom, her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disappointing these days. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs.

“Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would get decent jobs and preferable pay right after graduation.” This increasing market orien-

tation of both the economy and the education sys-tem means that gruadates must become involved in job creation through entrpreneurship. Daily sales at Freedom, her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, how-ever, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disappointing these days.


I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 mil-lion in 2001. China added only 9 milion new jobs in 2005, and 5 million.


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About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in

2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs.

“Under the previous planned economy, univer-sity graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the gov-ernment to assign them jobs and they would get decent jobs and preferable pay right after gradu-ation.”

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?Why is entrpreneurship an important com-ponent in the shift away from communist economic system in China and toward more democratic regimes?

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Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec open system ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum. Cras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus.


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cH

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Decisions and Managing a Socially Responsible Business

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Learning GoalsAfter studying this chapter, you should be able to

1 What is the human resource management process, and

how are human resource needs determined?

2 How do firms recruit applicants?

3 How do firms select qualified applicants?

4 What types of training and development do

organizations offer their employees?

5 How are performance appraisals used to evaluate

employee performance?

6 What are the types of compensation and methods

for paying workers?

7 What is a labor union and how is it organized?

8 What is collective bargaining, and what are

some of the key negotiation issues?

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Monty Python and the Holy GrailMorbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum ras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum.

Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi.

Curabitur vestibulum.ras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum ras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulum which can be a problem.

Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum. Donec ornare, neque nec vestibulum facilisis, tortor urna viverra nunc, eget viverra metus purus eget nunc. Praesent pulvinar tellus eu risus. Sed sem felis, semper nec, convallis id, hendrerit nec, purus. Phasellus a sem at lacus accumsan malesuada. Cras dignissim posuere orci. Phasellus nec nibh. Praesent varius. Proin sit amet neque ac tortor sollicitudin iaculis. Morbi tincidunt quam et ligula. Fusce vel wisi. Curabitur vestibulumras dictum vestibulum erat. Morbi rutrum dolor eget turpis. Vivamus fringilla sollicitudin ipsum sem felis, semper nec, convallis id, hendrerit nec.



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I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001. China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs. “Under the previous planned economy, university gradu-ates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would pg 34

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?What economic conditions are contributing to Chines students’ interest in becoming business owners?

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China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories.

With such intense competition for jobs, graduates must seek alternatives to traditional jobs throughout the economy.


her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says.

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside. With such intense com-petition for jobs. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Ji.

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest?Why is entrpreneurship an important com-ponent in the shift away from a communist economic system in China and elsewhere throughout the various and energetic Pacific Rim countries that are economic powers?

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Using Communities of Practice to Motivate Knowledge Workers The Dacheng Mall is a prime example of a new

generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students over-come economic and political obstacles to busi-








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The Dacheng Mall is a prime example of a new generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students over-come economic and political obstacles to busi-ness ownership. These included business consultants to advise students about start-up procedures, special loans to finance their efforts, and rent and utility subsidies.




however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job market is so disappointing these days and nights and days.”

I have to do something to get myself better prepared. Otherwise I will probably become jobless immediately after my graduation. About 30 percent of china’s university students would like to join Lu and start their own companies. This low rate of new job creation is occuring at a time when the number of graduates is soaring: 3.4 million students received university degrees in 2005, compared to 1.15 million in 2001.

China added only 9 milion new jobs in 2005, and 5 million of those were set aside for workers who lost their jobs at state factories. With such intense competition for jobs, graduates must seek alternatives to traditional jobs. “Under the previous planned economy, university graduates used to be the elite of the society,” says Shen Jie, a sociologist at the Chinese Academy of Social Sciences. “They simply waited for the government to assign them jobs and they would pg 34

Discussion QuestionsWhat economic conditions are contributing to Chines students’ interest in becoming business owners?Why is entrpreneurship an important compo-nent in the shift away from communist eco-nomic system in China?What economic conditions are contributing to Chines students’ interest?

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Using Communities of Practice to Motivate Knowledge Workers The Dacheng Mall is a prime example of a new

generation of Chinese entrepreneurship in action. Located in Nanjing, capital of Jiangsu Province in eastern China, most of stores are student-owned. City-sponsored programs helped students over-come economic and political obstacles to busi-






her boutique, average about 200 pean ($25). Lu hopes to run a profitable business, however, her goals focus on career more than wealth. “Making money is not the sole aim,” sho says. “The job mar-ket is so disappointing these days.



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Since Joining the World Trade Organization in 2001, China has continued to embrace tenets of capitalism and grow its economy. China is the world’s largest producer of mobile phones, PCs, and cameras, and the country’s over one billion citizens constitute a gargantuan emerging market. Virus-like expansion of McDonald’s and KFC franchises epitomizes the success of American-style capitalism in China, and Beijing’s bid to host the 2008 Summer Olympics is a symbol of economic openness. Do you think China’s capitalistic trend can continue to thrive under the ruling Chinese Communist Party that opposes worker’s rights, free speech, and democracy along with universal sufferage and disposables?


Since Joining the World Trade Organization in 2001, China has continued to embrace tenets of capitalism and grow its economy. China is the world’s largest producer of mobile phones. Do you think China’s capitalistic trend can continue to thrive under the ruling Chinese Communist Party that opposes worker’s rights, free speech, and democracy?

Library item:

concept-in-action-portrait-verso

Note: “Concept in Action” heading converted to outlines.

Library item:

concept-in-action-portrait-recto


Library item:

concept-in-action-landscape-verso


Library item:

concept-in-action-landscape-recto


Documents

Carl McDaniel - RAMSDELL DESIGN – Designing attention ... · Dedicated to the memory of my mother, Dr. Edith Gitman, who instilled in me the importance of education and hard work