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# Organic Chemistry ## Introduction All living things on earth are formed mostly of carbon compounds. The prevalence of carbon compounds in living things has led to the epithet “carbon-based” life. The truth is we know of no other kind of life. Early chemists regarded substances isolated from organisms (plants and an...
# Organic Chemistry ## Hydrocarbons The largest databaseThis is the Beilstein database, now available through the Reaxys site (www.elsevier.com/online-tools/reaxys). of organic compounds lists about 10 million substances, which include compounds originating from living organisms and those synthesized by chemists. The...
# Organic Chemistry ## Alcohols and Ethers In this section, we will learn about alcohols and ethers. ### Alcohols Incorporation of an oxygen atom into carbon- and hydrogen-containing molecules leads to new functional groups and new families of compounds. When the oxygen atom is attached by single bonds, the molecul...
# Organic Chemistry ## Aldehydes, Ketones, Carboxylic Acids, and Esters Another class of organic molecules contains a carbon atom connected to an oxygen atom by a double bond, commonly called a carbonyl group. The trigonal planar carbon in the carbonyl group can attach to two other substituents leading to several sub...
# Organic Chemistry ## Amines and Amides Amines are molecules that contain carbon-nitrogen bonds. The nitrogen atom in an amine has a lone pair of electrons and three bonds to other atoms, either carbon or hydrogen. Various nomenclatures are used to derive names for amines, but all involve the class-identifying suffi...
# Understanding Economic Systems and Business ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. How do businesses and not-for-profit organizations help create our standard of living? 2. What are the sectors of the business environment, and how do chan...
# Understanding Economic Systems and Business ## The Nature of Business 1. How do businesses and not-for-profit organizations help create our standard of living? Take a moment to think about the many different types of businesses you come into contact with on a typical day. As you drive to class, you may stop at a ga...
# Understanding Economic Systems and Business ## Understanding the Business Environment 1. What are the sectors of the business environment, and how do changes in them influence business decisions? Businesses do not operate in a vacuum but rather in a dynamic environment that has a direct influence on how they operat...
# Understanding Economic Systems and Business ## How Business and Economics Work 1. What are the primary features of the world’s economic systems, and how are the three sectors of the U.S. economy linked? A business’s success depends in part on the economic systems of the countries where it is located and where it se...
# Understanding Economic Systems and Business ## Macroeconomics: The Big Picture 1. How do economic growth, full employment, price stability, and inflation indicate a nation’s economic health? Have you ever looked at CNN’s Headline News on a mobile device or turned on the radio and heard something like, “Today the La...
# Understanding Economic Systems and Business ## Achieving Macroeconomic Goals 1. How does the government use monetary policy and fiscal policy to achieve its macroeconomic goals? To reach macroeconomic goals, countries must often choose among conflicting alternatives. Sometimes political needs override economic need...
# Understanding Economic Systems and Business ## Microeconomics: Zeroing in on Businesses and Consumers 1. What are the basic microeconomic concepts of demand and supply, and how do they establish prices? Now let’s shift our focus from the whole economy to microeconomics, the study of households, businesses, and indu...
# Understanding Economic Systems and Business ## Competing in a Free Market 1. What are the four types of market structure? One of the characteristics of a free-market system is that suppliers have the right to compete with one another. The number of suppliers in a market defines the market structure. Economists iden...
# Understanding Economic Systems and Business ## Trends in the Business Environment and Competition 1. Which trends are reshaping the business, microeconomic, and macroeconomic environments and competitive arena? Trends in the business and economic environment occur in many areas. As noted earlier, today’s workforce ...
# Making Ethical Decisions and Managing a Socially Responsible Business ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What philosophies and concepts shape personal ethical standards? 2. How can organizations encourage ethical business behavior? 3....
# Making Ethical Decisions and Managing a Socially Responsible Business ## Understanding Business Ethics 1. What philosophies and concepts shape personal ethical standards? Ethics is a set of moral standards for judging whether something is right or wrong. The first step in understanding business ethics is learning t...
# Making Ethical Decisions and Managing a Socially Responsible Business ## How Organizations Influence Ethical Conduct 1. How can organizations encourage ethical business behavior? People choose between right and wrong based on their personal code of ethics. They are also influenced by the ethical environment created...
# Making Ethical Decisions and Managing a Socially Responsible Business ## Managing a Socially Responsible Business 1. What is corporate social responsibility? Acting in an ethical manner is one of the four components of the pyramid of corporate social responsibility (CSR), which is the concern of businesses for the ...
# Making Ethical Decisions and Managing a Socially Responsible Business ## Responsibilities to Stakeholders 1. How do businesses meet their social responsibilities to various stakeholders? What makes a company be admired or perceived as socially responsible? Such a company meets its obligations to its stakeholders. S...
# Making Ethical Decisions and Managing a Socially Responsible Business ## Trends in Ethics and Corporate Social Responsibility 1. What are the trends in ethics and corporate social responsibility? Three important trends related to ethics and corporate social responsibility are strategic changes in corporate philanth...
# Competing in the Global Marketplace ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. Why is global trade important to the United States, and how is it measured? 2. Why do nations trade? 3. What are the barriers to international trade? 4. How do gov...
# Competing in the Global Marketplace ## Global Trade in the United States 1. Why is global trade important to the United States, and how is it measured? No longer just an option, having a global vision has become a business imperative. Having a global vision means recognizing and reacting to international business o...
# Competing in the Global Marketplace ## Why Nations Trade 1. Why do nations trade? One might argue that the best way to protect workers and the domestic economy is to stop trade with other nations. Then the whole circular flow of inputs and outputs would stay within our borders. But if we decided to do that, how wou...
# Competing in the Global Marketplace ## Barriers to Trade 1. What are the barriers to international trade? International trade is carried out by both businesses and governments—as long as no one puts up trade barriers. In general, trade barriers keep firms from selling to one another in foreign markets. The major ob...
# Competing in the Global Marketplace ## Fostering Global Trade 1. How do governments and institutions foster world trade? ### Antidumping Laws U.S. firms don’t always get to compete on an equal basis with foreign firms in international trade. To level the playing field, Congress has passed antidumping laws. Dumpin...
# Competing in the Global Marketplace ## International Economic Communities 1. What are international economic communities? Nations that frequently trade with each other may decide to formalize their relationship. The governments meet and work out agreements for a common economic policy. The result is an economic com...
# Competing in the Global Marketplace ## Participating in the Global Marketplace 1. How do companies enter the global marketplace? Companies decide to “go global” for a number of reasons. Perhaps the most urgent reason is to earn additional profits. If a firm has a unique product or technological advantage not availa...
# Competing in the Global Marketplace ## Threats and Opportunities in the Global Marketplace 1. What threats and opportunities exist in the global marketplace? To be successful in a foreign market, companies must fully understand the foreign environment in which they plan to operate. Politics, cultural differences, a...
# Competing in the Global Marketplace ## The Impact of Multinational Corporations 1. What are the advantages of multinational corporations? Corporations that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located are multinational c...
# Competing in the Global Marketplace ## Trends in Global Competition 1. What are the trends in the global marketplace? In this section, we will examine several underlying trends that will continue to propel the dramatic growth in world trade. These trends are market expansion, resource acquisition, and the emergence...
# Forms of Business Ownership ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What are the advantages and disadvantages of the sole proprietorship form of business organization? 2. What are the advantages of operating as a partnership, and what down...
# Forms of Business Ownership ## Going It Alone: Sole Proprietorships 1. What are the advantages and disadvantages of the sole proprietorship form of business organization? Jeremy Shepherd was working full-time for an airline when, at the age of 22, he wandered into an exotic pearl market in China, searching for a gi...
# Forms of Business Ownership ## Partnerships: Sharing the Load 1. What are the advantages of operating as a partnership, and what downside risks should partners consider? Can partnerships, an association of two or more individuals who agree to operate a business together for profit, be hazardous to a business’s heal...
# Forms of Business Ownership ## Corporations: Limiting Your Liability 1. How does the corporate structure provide advantages and disadvantages to a company, and what are the major types of corporations? When people think of corporations, they typically think of major, well-known companies, such as Apple, Alphabet (p...
# Forms of Business Ownership ## Specialized Forms of Business Organization 1. What other options for business organization does a company have in addition to sole proprietorships, partnerships, and corporations? In addition to the three main forms, several specialized types of business organization also play an impo...
# Forms of Business Ownership ## Franchising: A Popular Trend 1. What makes franchising an appropriate form of organization for some types of business, and why does it continue to grow in importance? When Shep Bostin decided to buy a franchise, he researched the usual suspects: Jiffy Lube, McDonald’s, and Quiznos Sub...
# Forms of Business Ownership ## Mergers and Acquisitions 1. Why are mergers and acquisitions important to a company’s overall growth? A merger occurs when two or more firms combine to form one new company. For example, in 2016, Johnson Controls, a leading provider of building efficiency solutions, agreed to merge wi...
# Forms of Business Ownership ## Trends in Business Ownership 1. What current trends will affect the business organizations of the future? As we learned earlier, an awareness of trends in the business environment is critical to business success. Many social, demographic, and economic factors affect how businesses org...
# Entrepreneurship: Starting and Managing Your Own Business ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. Why do people become entrepreneurs, and what are the different types of entrepreneurs? 2. What characteristics do successful entrepreneurs sh...
# Entrepreneurship: Starting and Managing Your Own Business ## Entrepreneurship Today 1. Why do people become entrepreneurs, and what are the different types of entrepreneurs? Brothers Fernando and Santiago Aguerre exhibited entrepreneurial tendencies at an early age. At 8 and 9 years old respectively, they sold stra...
# Entrepreneurship: Starting and Managing Your Own Business ## Characteristics of Successful Entrepreneurs 1. What characteristics do successful entrepreneurs share? Do you have what it takes to become an entrepreneur? Having a great concept is not enough. An entrepreneur must be able to develop and manage the compan...
# Entrepreneurship: Starting and Managing Your Own Business ## Small Business: Driving America's Growth 1. How do small businesses contribute to the U.S. economy? Although large corporations dominated the business scene for many decades, in recent years small businesses have once again come to the forefront. Downsizi...
# Entrepreneurship: Starting and Managing Your Own Business ## Ready, Set, Start Your Own Business 1. What are the first steps to take if you are starting your own business? You have decided that you’d like to go into business for yourself. What is the best way to go about it? Start from scratch? Buy an existing busi...
# Entrepreneurship: Starting and Managing Your Own Business ## Managing a Small Business 1. Why does managing a small business present special challenges for the owner? Managing a small business is quite a challenge. Whether you start a business from scratch or buy an existing one, you must be able to keep it going. ...
# Entrepreneurship: Starting and Managing Your Own Business ## Small Business, Large Impact 1. What are the advantages and disadvantages facing owners of small businesses? An uncertain economy has not stopped people from starting new companies. The National Federation of Independent Businesses reports that 85 percent...
# Entrepreneurship: Starting and Managing Your Own Business ## The Small Business Administration 1. How does the Small Business Administration help small businesses? Many small-business owners turn to the Small Business Administration (SBA) for assistance. The SBA’s mission is to speak on behalf of small business, an...
# Entrepreneurship: Starting and Managing Your Own Business ## Trends in Entrepreneurship and Small-Business Ownership 1. What trends are shaping entrepreneurship and small-business ownership? Entrepreneurship has changed since the heady days of the late 1990s, when starting a dot-com while still in college seemed a ...
# Management and Leadership in Today's Organizations ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What is the role of management? 2. What are the four types of planning? 3. What are the primary functions of managers in organizing activities? 4. H...
# Management and Leadership in Today's Organizations ## The Role of Management 1. What is the role of management? Management is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Managers are the people in the organization responsible for developing and ca...
# Management and Leadership in Today's Organizations ## Planning 1. What are the four types of planning? Planning begins by anticipating potential problems or opportunities the organization may encounter. Managers then design strategies to solve current problems, prevent future problems, or take advantage of opportun...
# Management and Leadership in Today's Organizations ## Organizing 1. What are the primary functions of managers in organizing activities? A second key function of managers is organizing, which is the process of coordinating and allocating a firm’s resources in order to carry out its plans. Organizing includes develo...
# Management and Leadership in Today's Organizations ## Leading, Guiding, and Motivating Others 1. How do leadership styles influence a corporate culture? Leadership, the third key management function, is the process of guiding and motivating others toward the achievement of organizational goals. A leader can be anyo...
# Management and Leadership in Today's Organizations ## Controlling 1. How do organizations control activities? The fourth key function that managers perform is controlling. Controlling is the process of assessing the organization’s progress toward accomplishing its goals. It includes monitoring the implementation of...
# Management and Leadership in Today's Organizations ## Managerial Roles 1. What roles do managers take on in different organizational settings? In carrying out the responsibilities of planning, organizing, leading, and controlling, managers take on many different roles. A role is a set of behavioral expectations, or...
# Management and Leadership in Today's Organizations ## Managerial Skills 1. What set of managerial skills is necessary for managerial success? In order to be successful in planning, organizing, leading, and controlling, managers must use a wide variety of skills. A skill is the ability to do something proficiently. ...
# Management and Leadership in Today's Organizations ## Trends in Management and Leadership 1. What trends will affect management in the future? Four important trends in management today are crisis management, outside directors, the growing use of information technology, and the increasing need for global management ...
# Designing Organizational Structures ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What are the traditional forms of organizational structure? 2. What contemporary organizational structures are companies using? 3. Why are companies using team-bas...
# Designing Organizational Structures ## Building Organizational Structures 1. What are the traditional forms of organizational structure? The key functions that managers perform include planning, organizing, leading, and controlling. This module focuses specifically on the organizing function. Organizing involves co...
# Designing Organizational Structures ## Contemporary Structures 1. What contemporary organizational structures are companies using? Although traditional forms of departmentalization still represent how many companies organize their work, newer, more flexible organizational structures are in use at many firms. Let’s ...
# Designing Organizational Structures ## Using Teams to Enhance Motivation and Performance 1. Why are companies using team-based organizational structures? One of the most apparent trends in business today is the use of teams to accomplish organizational goals. Using a team-based structure can increase individual and...
# Designing Organizational Structures ## Authority—Establishing Organizational Relationships 1. What tools do companies use to establish relationships within their organizations? Once companies choose a method of departmentalization, they must then establish the relationships within that structure. In other words, th...
# Designing Organizational Structures ## Degree of Centralization 1. How can the degree of centralization/decentralization be altered to make an organization more successful? The optimal span of control is determined by the following five factors: 1. Nature of the task. The more complex the task, the narrower the spa...
# Designing Organizational Structures ## Organizational Design Considerations 1. How do mechanistic and organic organizations differ? You are now familiar with the different ways to structure an organization, but as a manager, how do you decide which design will work the best for your business? What works for one com...
# Designing Organizational Structures ## The Informal Organization 1. How does the informal organization affect the performance of the company? Up to this point, we have focused on formal organizational structures that can be seen in the boxes and lines of the organization chart. Yet many important relationships with...
# Designing Organizational Structures ## Trends in Organizational Structure 1. What trends are influencing the way businesses organize? To improve organizational performance and achieve long-term objectives, some organizations seek to reengineer their business processes or adopt new technologies that open up a variet...
# Managing Human Resources and Labor Relations ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 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 qua...
# Managing Human Resources and Labor Relations ## Achieving High Performance through Human Resources Management 1. What is the human resource management process, and how are human resource needs determined? Human resource (HR) management is the process of hiring, developing, motivating, and evaluating employees to ac...
# Managing Human Resources and Labor Relations ## Employee Recruitment 1. How do firms recruit applicants? When a firm creates a new position or an existing one becomes vacant, the firm starts looking for people with qualifications that meet the requirements of the job. Two sources of job applicants are the internal ...
# Managing Human Resources and Labor Relations ## Employee Selection 1. How do firms select qualified applicants? After a firm has attracted enough job applicants, employment specialists begin the selection process. Selection is the process of determining which people in the applicant pool possess the qualifications ...
# Managing Human Resources and Labor Relations ## Employee Training and Development 1. What types of training and development do organizations offer their employees? To ensure that both new and experienced employees have the knowledge and skills to perform their jobs successfully, organizations invest in training and...
# Managing Human Resources and Labor Relations ## Performance Planning and Evaluation 1. How are performance appraisals used to evaluate employee performance? Along with employee orientation and training, new employees learn about performance expectations through performance planning and evaluation. Managers provide ...
# Managing Human Resources and Labor Relations ## Employee Compensation and Benefits 1. What are the types of compensation and methods for paying workers? Compensation, which includes both pay and benefits, is closely connected to performance appraisals. Employees who perform better tend to get bigger pay raises. Sev...
# Managing Human Resources and Labor Relations ## The Labor Relations Process 1. What is a labor union and how is it organized, what is collective bargaining, and what are some of the key negotiation issues? Tens of thousands of American firms are unionized, and millions of U.S. workers belong to unions. Historically...
# Managing Human Resources and Labor Relations ## Managing Grievances and Conflicts 1. How are grievances between management and labor resolved, and what tactics are used to force a contract settlement? In a unionized work environment, employees follow a step-by-step process for handling grievances or disputes betwee...
# Managing Human Resources and Labor Relations ## Legal Environment of Human Resources and Labor Relations 1. What are the key laws and federal agencies affecting human resource management and labor relations? Federal laws help ensure that job applicants and employees are treated fairly and not discriminated against....
# Managing Human Resources and Labor Relations ## Trends in Human Resource Management and Labor Relations 1. What trends and issues are affecting human resource management and labor relations? Some of today’s most important trends in human resource management are using employee diversity as a competitive advantage, i...
# Motivating Employees ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What are the basic principles of Frederick Taylor’s concept of scientific management? 2. What did Elton Mayo’s Hawthorne studies reveal about worker motivation? 3. What is Maslow...
# Motivating Employees ## Early Theories of Motivation 1. What are the basic principles of Frederick Taylor’s concept of scientific management? Motivation is the set of forces that prompt a person to release energy in a certain direction. As such, motivation is essentially a need- and want-satisfying process. A need ...
# Motivating Employees ## The Hawthorne Studies 1. What did Elton Mayo’s Hawthorne studies reveal about worker motivation? The classical era of management was followed by the human relations era, which began in the 1930s and focused primarily on how human behavior and relations affect organizational performance. The ...
# Motivating Employees ## Maslow's Hierarchy of Needs 1. What is Maslow’s hierarchy of needs, and how do these needs relate to employee motivation? Another well-known theorist from the behavioral era of management history, psychologist Abraham Maslow, proposed a theory of motivation based on universal human needs. Ma...
# Motivating Employees ## McGregor's Theories X and Y 1. How are McGregor’s Theories X and Y and Ouchi’s Theory Z used to explain worker motivation? Douglas McGregor, one of Maslow’s students, influenced the study of motivation with his formulation of two contrasting sets of assumptions about human nature—Theory X an...
# Motivating Employees ## Herzberg's Motivator-Hygiene Theory 1. What are the basic components of Herzberg’s motivator-hygiene theory? Another important contribution to our understanding of individual motivation came from Frederick Herzberg’s studies, which addressed the question, “What do people really want from the...
# Motivating Employees ## Contemporary Views on Motivation 1. What four contemporary theories on employee motivation offer insights into improving employee performance? The early management scholars laid a foundation that enabled managers to better understand their workers and how best to motivate them. Since then, n...
# Motivating Employees ## From Motivation Theory to Application 1. How can managers redesign existing jobs to increase employee motivation and performance? The material presented thus far in this chapter demonstrates the wide variety of theorists and research studies that have contributed to our current understanding...
# Motivating Employees ## Trends in Employee Motivation 1. What initiatives are organizations using today to motivate and retain employees? This chapter has focused on understanding what motivates people and how employee motivation and satisfaction affect productivity and organizational performance. Organizations can...
# Achieving World-Class Operations Management ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. Why is production and operations management important in both manufacturing and service firms? 2. What types of production processes do manufacturers and s...
# Achieving World-Class Operations Management ## Production and Operations Management—An Overview 1. Why is production and operations management important in both manufacturing and service firms? Production, the creation of products and services, is an essential function in every firm. Production turns inputs, such a...
# Achieving World-Class Operations Management ## The Production Process: How Do We Make It? 1. What types of production processes do manufacturers and service firms use? In production planning, the first decision involves which type of production process—the way a good or service is created—best fits with company goa...
# Achieving World-Class Operations Management ## Location, Location, Location: Where Do We Make It? 1. How do organizations decide where to put their production facilities? What choices must be made in designing the facility? A big decision that managers must make early in production and operations planning is where ...
# Achieving World-Class Operations Management ## Pulling It Together: Resource Planning 1. Why are resource-planning tasks such as inventory management and supplier relations critical to production? As part of the production-planning process, firms must ensure that the resources needed for production—such as raw mate...
# Achieving World-Class Operations Management ## Production and Operations Control 1. How do operations managers schedule and control production? Every company needs to have systems in place to see that production and operations are carried out as planned and to correct errors when they are not. The coordination of m...
# Achieving World-Class Operations Management ## Looking for a Better Way: Improving Production and Operations 1. How can quality-management and lean-manufacturing techniques help firms improve production and operations management? Competing in today’s business world is challenging. To compete effectively, firms must...
# Achieving World-Class Operations Management ## Transforming the Factory Floor with Technology 1. What roles do technology and automation play in manufacturing and service-industry operations management? Technology is helping many firms improve their operating efficiency and ability to compete. Computer systems in p...
# Achieving World-Class Operations Management ## Trends in Production and Operations Management 1. What key trends are affecting the way companies manage production and operations? What trends will impact U.S. production and operations management both now and in the future? Manufacturing employment has added one mill...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What is the marketing concept and relationship-building? 2. How do managers create a marketing strategy? 3. What is the marketing mix...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## The Marketing Concept 1. What is the marketing concept and relationship-building? Marketing is the process of getting the right goods or services or ideas to the right people at the right place, time, and price, using the right promotion technique...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Creating a Marketing Strategy 1. How do managers create a marketing strategy? ### What Is Marketing Strategy? Marketers use a number of different “tools” to develop the products or services that meet the needs and wants of their customers, provi...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Developing a Marketing Mix 1. What is the marketing mix? Once a firm has defined its target market and identified its competitive advantage, it can create the marketing mix, which is based on the 5Ps discussed earlier, that brings a specific group...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Buyer Behavior 1. How do consumers and organizations make buying decisions? An organization that wants to be successful must consider buyer behavior when developing the marketing mix. Buyer behavior is the actions people take with regard to buying...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Market Segmentation 1. What are the five basic forms of consumer and business market segmentation? Most organizations cannot target the total market for a specific product. For each separate part of the market that an organization wants to target,...