Contemporary Business

Student-friendly, engaging, and accessible, Contemporary Business, 20e equips students with the skills to assess and solve today's global business challenges and succeed in a fast-paced environment. Designed to drive interest in business, our newest edition offers a comprehensive approach to the material, including a variety of resources to support today's students. Its modern approach, wealth of videos, relevant and up-to-date content, and career readiness resources keep your course current and engaging.

PREFACE vi

1 The Changing Face of Business 1

2 Economic Challenges Facing Business Today 32

3 International Business and Competing in World Markets 62

4 Business Ethics and Social Responsibility 91

5 Small Business and the Legal Forms of Business Ownership 122

6 Entrepreneurship and Starting a Business 159

7 Management, Leadership, and the Internal Organization 184

8 Human Resource Management: From Recruitment to Labor Relations 213

9 Top Performance through Empowerment, Teamwork, and Communication 242

10 Production and Operations Management 268

11 Using Technology to Manage Information 297

12 Customer-Driven Marketing 328

13 Product and Distribution Strategies 358

14 Promotion and Pricing Strategies 391

15 Trends in E-Commerce 423

16 Understanding Accounting and Financial Statements 450

17 The Financial System and Investing 479

18 Financial Management 511

GLOSSARY 537

NOTES 545

COMPANY INDEX 566

NAME INDEX 571

SUBJECT INDEX 573

DANIEL PFALTZGRAF At the confluence of business strategy, creativity, and innovation, is where you'll find Daniel, with an agile mind, curious disposition, and collaborative spirit. Teaching within the University of Toledo's Neff College of Business & Innovation, Daniel's courses span the disciplines of business: management, marketing, technology, and innovation.