"A new study shows just how hard it is for many Americans to get ahead. The average American spends roughly $1,272 per paycheck on living expenses — with the majority of expenses coming from housing and utility bills — according to a recent Clever Real Estate report using Bureau of Economic Analysis spending and income data and IRS state tax data.
"Clever Real Estate compiled a ranking of the best and worst metro areas to live in based on how much money residents have leftover from a typical biweekly paycheck. After subtracting expenses and income taxes from biweekly pretax income, the average amount of money leftover among all Americans was $136.39."
As educators, we pride ourselves on preparing students for the opportunities they will encounter in their careers. This has never been an easy goal with the introduction to business course, given the wide range of topics it needs to address, and the challenge gets more daunting every year as the business world continues to evolve and grow more complex.
How do you stay on top of all the changes taking place—particularly if you have limited prep time?
Helping you meet this challenge has always been the driving force behind Business in Action. To prepare the Ninth Edition, we studied every aspect of business, from retailing to finance, to identify the forces and trends that are reshaping the way business works. Here’s a quick look at some of the biggest changes we’re seeing. For some of these, Business in Action is the only text you’ll find that covers them in a meaningful way.
The digital transformation is reshaping every functional area in business, and more than three-quarters of executives say that digital technology will have a “major” or “transformative” impact on their industries. Alert companies are scrambling to reinvent themselves by implementing new business models or optimizing existing approaches. Business in Action is the only leading textbook in this market that helps students appreciate the full scope of this transformation. In fact, our theme for the Ninth Edition is “Thriving in the Digital Enterprise,” and this concept informs the entire text.
Financial services are a great example of how digital technologies are disrupting one sector after another. Did you know that more than 10,000 companies are now active in the fintech arena? We introduce students to five major benefits that fintech is starting to produce, from making financial services more inclusive to enhancing financial decision-making with robo advisors and other artificial intelligence (AI) tools.
The field of marketing has changed so much in recent years that is scarcely recognizable from the old days of the “Four Ps.” The innovations we cover in Business in Action include involving the customer in the marketing process with efforts such as voice of the customer programs, making data-driven marketing decisions (including the all-important challenge of attribution in ad spending), marketing with greater concern for ethics and etiquette, and creating satisfying customer experiences (including creating customer experience touchpoints and the growing practice of social customer care).
Perhaps no aspect of marketing is undergoing as much disruption as the retailing sector. We introduce students to the challenging economics of retailing; discuss how innovations such as mobile commerce, social commerce, and subscription shopping are changing consumer behavior; and take a clear look at the facts and myths of the “retail apocalypse.”
Even as all these changes are happening in the external business environment, many companies are taking a fresh look at what kinds of organizations they want to be and even what it means to be a company. Business in Action explores such topical issues as workplace negativity, safe workspaces, inclusive workplaces and opportunities, the evolving role of HR, the gig economy, and unstructured organizations that rely on social networks and virtual communities.
Sadly, not all recent developments in the business world are positive, of course. The last few years have witnessed stunning ethical meltdowns by some of the biggest companies in the world. The Ninth Edition takes an unflinching look at these lapses and identifies three primary causes of unethical behavior that students need to be aware of: management pressure and corporate culture, a willful blindness to harm, and a sense of ethical and even legal impunity bred in part by the Silicon Valley mentality of “move fast and break things.”
To those of you who already rely on Business in Action to provide your students with the latest coverage of the dynamic field of business, we extend our sincere thanks and continued wishes for success. If you haven’t explored this text yet, we invite you to take a look at its pedagogical features, the range of up-to-date topics it covers, and the value it offers your students. Here’s a video preview and in-depth information about Ninth Edition. We invite you to order a complimentary examination copy today.
"You can’t run from your business debt or do nothing and hope it goes away on its own, but you can take steps to get it under control or otherwise find business debt relief. If you struggle with small business debt, we’re going to take you step-by-step through what you need to do to eliminate what you owe and get your business back in good financial standing."
The digital transformation movement is underway and affecting all types of industries. As recent trends in banking have shown, the financial sector is undergoing many changes as technology continues to make financial companies more successful and create better relationships with their customers. As technology continues to advance and change organizations, what kind of trends can we expect to see re-evaluate the financial sector in the coming years.
Is your textbook keeping up with the changes sweeping through the business world?
If you teach introduction to business, you know how quickly the world of business is changing, with industry after industry being reshaped by digital systems and artificial intelligence.
The question is: Does your textbook reflect this revolution?
Unless it has already embraced these new concepts discussed in this video, chances are it is preparing students for yesterday’s business world, not tomorrow’s.
Every Enterprise Is Now a Digital Enterprise
The business world is experiencing waves of technological and social disruptions that are reshaping what it’s like to launch, lead, and work for companies. Consider this stunning change: In a 2015 survey, fewer than 1 percent of executives believed digital technology would disrupt their industries.
Only two years later, more than 75% said digital would have a “major” or “transformative” impact on their industries. In a fundamental way, virtually all businesses are becoming digital enterprises, regardless of what they produce, because digital systems are essential to how they create value and connect with customers. And this digital transformation is affecting every aspect of business, from HR to finance to marketing.
The Exciting—and Unsettling—Prospect of Digital Transformation
Students need to be ready for this new world of business for two key reasons. First, executives who are scrambling to implement their own digital transformations are looking for employees who are tuned into these concepts and technologies.
Second, students can’t afford to set their sights on traditional career paths without understanding how those career paths are changing—or in some cases, disappearing. Many of today’s jobs are vulnerable to disruption from artificial intelligence and related technologies, and many graduates will be working in jobs we can’t even envision today.
Preparing Students to Thrive in the Digital Enterprise
Clearly, the business curriculum needs to prepare students for a vastly different world of work—while still helping them grasp the core principles of business. The new Ninth Edition of Business in Action tackles this challenge with a unique approach called Thriving in the Digital Enterprise.
Each chapter features six structured learning objectives devoted to the important principles of that topic, followed by a new, seventh section that features one key aspect of thriving in the digital enterprise. These new sections offer concise, non-technical explanations of disruptive business technologies that are likely to affect students’ careers in the coming years.
Today’s Students Are Looking for Business with a Higher Purpose
The changes sweeping through business today are about more than just technology, however. For example, today’s younger workers show a keen interest in finding or creating work that involves a more meaningful purpose than simply making a paycheck.
Business in Action explains the ways that many companies are moving beyond the concept of corporate social responsibility to become purpose-driven companies. It helps students understand the challenges of moving beyond the bottom line, and shows them how companies can do well by managing business as a force for good.
Exhibits That Teach: Visual Learning for Today’s Students
It’s no secret that information habits are changing and that today’s learners value alternatives to lengthy written accounts. Business in Action supports these learners with high-efficiency visual learning. The Ninth Edition features nearly 150 exhibits that teach—diagrams, graphs, quick-reference tables, and other exhibits that address the challenge of getting students to read long passages of text by presenting vital concepts visually.
The emphasis throughout is on productive learning by helping students minimize the time they spend reading while maximizing their learning outcomes.
Other Highlights of the Ninth Edition
The Ninth Edition is one of the most comprehensive revisions in the long history of Business in Action, making it more concise and more effective than ever.
New learning and career-development features
Growing as a Professional encourages students to apply the business concepts they are learning in each chapter to facets of their academic and personal lives right now.
Resolving Ethical Dilemmas challenge students with realistic ethical dilemmas that require thoughtful analysis and decision-making.
Intelligent Business Technologyhelps students grasp the benefits of the smart systems that their future employers are likely to be using.
Extensive content enhancements
The Behind the Scenes chapter-opening vignettes and end-of-chapter case studies show students how professionals apply the same skills and concepts they are reading about in the chapter. All 16 vignette/case study pairs are new in this edition.
Every chapter has fresh project ideas and evaluation questions, with a total of more than 275 new questions and student activities.
Well over a hundred individual sections have been added, updated, or extensively revised throughout the 16 chapters.