Instructor’s Manual

The Future of Business, 6e by Gitman/McDaniel

Each component of the comprehensive supplements package has been carefully crafted by outstanding teachers, with guidance from the textbook authors, to ensure this course is a rewarding experience for instructors and students. The supplements package includes excellent time-tested teaching tools as well as new supplements designed for the electronic classroom.

Instructor’s Resources

Comprehensive Instructor’s Manual. (Available on the Instructor’s Web site and Instructor’s Resource Guide CD-ROM: ISBN: 0-324-53822-7) At the core of the integrated learning system for The Future of Business is this instructor’s manual. Developed in response to numerous suggestions from instructors teaching this course, each chapter is designed to provide maximum guidance for delivering the content in an interesting and dynamic manner.

Each chapter of the Instructor’s Manual includes the following:

1. Annotated learning goals.

2. Lecture outline interspersed with lecture tidbits and class discussion questions.

3. Suggested solutions to the ethics activities

4. Suggested solutions to the critical thinking cases

5. Suggested solutions and teaching guide for the video cases

In addition, this Instructor’s Manual includes suggested solutions to the Apple, Inc. continuing case and a complete set of transparency masters that includes key terms and concepts and exhibits from the textbook.

Test Bank and ExamView Testing Software. (Available on the Instructor’s Resource Guide CD-ROM: ISBN: 0-324-53822-7) To ensure your total confidence in the accuracy of the test bank, it has been certified for accuracy. The comprehensive test bank is organized by learning goal to support the integrated learning system. With over 2,000 true/false, multiple-choice, fill-in-the-blank, and short answer questions, tests can be customized to support a variety of course objectives. The test bank is available in Word and in ExamView Testing software formats. This test bank is just one more way the Gitman author team is making instructors feel comfortable and at ease with their support materials. Custom tests may be ordered through the ThomsonLearningAcademicResourceCenter (1-800-423-0563) or through Career Schools Support (1-800-477-3692) between 8:30 a.m. and 7 p.m., EST.

PowerPoint Slides Lecture. (Available on the Instructor’s Web site and Instructor’s Resource Guide CD-ROM: ISBN: 0-324-53822-7) The PowerPoint Lecture System includes hundreds of slides that illustrate key chapter concepts and explain business vocabulary. As part of the integrated learning system, each slide is identified by the appropriate learning goal. These professionally designed slides help improve lecture organization and reduce classroom preparation time.

Transparency Acetates. Color acetate transparencies, available by request from your publisher’s representative, feature key concepts, business terms, and exhibits from the textbook.

Instructor Web Site. ( Designed to support your course objectives, the Instructor Web site is a source of downloadable supplements and other valuable resources. Intro to Business News, for example,provides summaries of the latest business news stories, indexed by topic for your convenience. Each Intro to Business News summary contains a headline, subject category, key words, three to five paragraph summary of a news article, article source line, and questions to spur further thought. In addition, an Online Instructor’s Resource Guide provides a guide for utilizing all of The Future of Business resources to teach your course.

Instructor’s Resource CD-ROM. (ISBN: 0-324-53822-7) For maximum convenience, the Instructor’s Manual, Test Bank, ExamView Testing System, and the PowerPoint Lecture System are all available on a CD.

Comprehensive Video Package. (ISBN: 0-324-53826-X) Designed to enrich and support chapter concepts, each of the videos present real business issues faced by a variety of service and manufacturing organizations. The video cases challenge students to study business issues and develop solutions to business problems. The instructor’s video guide, included in the Instructor’s Manual, outlines the key teaching objectives of each video case and suggests answers to the critical thinking questions. New Exploring Business Career videos are an insightful way to begin the study of a new chapter and to illustrate the numerous career opportunities in business.

Resources for Students

ThomsonNOW for The Future of Business, Sixth Edition. ThomsonNOW is an integrated online suite of services and resources with proven ease of use and efficient paths to success, delivering the results you want - NOW! ThomsonNOW provides a customized learning path and tutorial to help students grasp chapter concepts and achieve success in the course. Through diagnostic pretests, students identify areas that require additional study. Tutorials provide additional guidance and direction on challenging topics.

  • Ease of use: Developed through intensive student and instructor usability testing, this release of ThomsonNOW put customers at the center of the redesign effort, literally directing the redesign. And we aren’t stopping now! We are working behind the scenes to take the program to the next level by consistently listening to what you want and need!
  • Efficient paths to success: Time-saving and efficient, ThomsonNOW makes the path from assignment through grading and reporting quick and easy for instructors. Student personalized learning plans lead them efficiently through textbook material, focusing on what each student still needs to learn – making every minute of study pay off! For an interactive introduction to ThomsonNOW, visit
  • Results: Students using ThomsonNOW overwhelmingly report that it helps them understand their course content better and score better on tests. Instructors love the effect assigning ThomsonNOW has on classroom participation and performance!

Companion Web Site (

Developed to maximize student success in the course and build online skills, the student portion of the text’s Web site includes quizzes for each chapter, links to related Web sites, online Enrichment Chapters, Intro to Business News, and career information.

New Content in the Sixth Edition

This edition has been completely updated to prepare students for tomorrow’s competitive workplace. Below is a description of some of the new content in the Sixth Edition.

PROLOGUE. The prologue offers sage advice on getting a most out of your college experience along with practical tips for landing your first job. Not only will you find up-to-date guidelines for finding a job using the Internet, you can gain insights into your own readiness for the job market. Fun Self-Tests explore the following topics:

  • Can You Persuade Others?
  • Can You Play the Political Game?
  • How Well Do You Manage Your Time?
  • Are You Good at Managing Money?
  • Do You Need to Improve Your Study Habits?
  • How Assertive Are You?
  • Are You Really a Good Listener?

CHAPTER 1 (Participating in the Dynamic Business Environment) has been restructured to present more thorough coverage of the economic, political and legal, demographic, social, competitive, global, and technological sectors of the business environment. New material focuses on the impact on businesses of changes in these sub-environments. For example, the aging of the population calls for different marketing strategies, and human resource departments must find ways to handle the brain drain as large numbers of baby boomers retire. The chapter also covers the emergence of China and India as new global economic powers, the challenges of managing the multigenerational workplace, and the convergence of telecommunications technologies.

Chapter 2(Understanding Evolving Economic Systems and Competition) has been updated to reflect the latest economic conditions. New material includes the resilience of U.S. economy, concern over the increasing demand for energy worldwide and disruptions in energy supply, the importance of new business creation and entrepreneurship to economic growth in developing countries, and the changing attitudes toward socialism in many European countries.

CHAPTER 3 (Making Ethical Decisions and Managing A Socially Responsible Business) contains new material on understanding the nature of an ethical issue and ethical philosophies. The “Best Corporate Citizens” and “the Best Places to Work” have been updated and a new section added on “making the right decision.”

APPENDIX TO CHAPTER 3 (Understanding the Legal and Tax Environment) adds new material on federal regulatory agencies and offers an in-depth discussion of the new Bankruptcy Abuse Prevention and Consumer Protection Act. Two other new laws covered are the Children’s Online Privacy Protection Act and the Can Spam Anti Spam law. The appendix concludes with new material on privacy.

CHAPTER 4 (Competing in the Global Marketplace) discusses outsourcing and if it is good or bad for workers and the economy. The section on benefits of globalization has been completely rewritten as well as the discussion of the European Union’s antitrust actions. The new Central America Free Trade Agreement is introduced. The World Trade Organization and the material on the European Union have been thoroughly revised. A new section on governmental aid to exporters has been added along with the opportunities and pitfalls of doing business in China and India. The section on multinationals has also been thoroughly revised.

CHAPTER 5 (Forms of Business Ownership) offers new student-friendly examples and case studies like the Pacific Sun retail store chain and Organic Valley Farming Co-operative to illustrate the relative merits of sole proprietorships, partnerships, corporations, and other alternative forms of business organization. An expanded section on franchising highlights the benefits and pitfalls of this increasingly popular business entity.

CHAPTER 6 (Entrepreneurship: Starting and Managing Your Own Business) invites students to put themselves in the shoes of entrepreneurs like 16 year-old Baruch Shemtov and his hand-made neckties, or brothers Fernando and Santiago Aguerre, the creators of Reef Brazil sandals, who began their entrepreneurial activities at the ages of 8 and 9 years old, or young Miho Inagi who introduced bagels to Japan, or Harvard University student Apollonia Poilane who turned the tragic death of her parents into an opportunity to shine by taking over the family business—in Paris. Students will not fail to be inspired by the fascinating stories of these dynamic young entrepreneurs.

CHAPTER 7 (Management and Leadership in Today’s Organizations) has been heavily revised and begins with a discussion on efficiency and effectiveness of organizations. New examples are found throughout the chapter. We have revised the discussion on participative leaders, employee empowerment, and corporate culture. There is a new section on teams, crisis management, outside directors, and using technology such as dashboard software.

CHAPTER 8 (Designing Organizational Structures) offers new insights on aligning organization structure and goals. New section on informal communication channels and outsourcing.

CHAPTER 9 (Managing Human Resources and Labor Management Issues) is a new chapter. We begin with the latest challenges in effectively managing employees and a revised model of human resource management. The discussion of the management process and labor relations management has been updated and streamlined. There are new sections on employee diversity and competitive advantage, outsourcing HR and technology, executive compensation, and organizational culture and hiring for fit.

CHAPTER 10 (Motivating Employees) reworks the definition of motivation and offers new examples. There are also new sections on reinforcement theory and pay-for-performance, employee ownership, the paid sabbatical, and communities of practice.

Chapter 11 (Achieving World-Class Operations Management) focuses on the way technology and robotics, competitive forces, and changes in consumer expectations are shaping production and operations management. The trend section highlights a looming U. S. workforce crisis and suggests America may be losing its edge in the innovation race.

CHAPTER 12(Understanding the Customer and Creating Marketing Strategy to Meet Customer Needs) begins with new material on how marketing plays a key role in creating revenue—the life-blood of the firm. New material on eliminating unprofitable customers and Internet marketing research.

CHAPTER 13 (Developing Quality Products at the Right Price) provides new insights into brand loyalty, cobranding, and better nutritional labeling. A new section on the impact of the Internet on pricing goods and services has been added, and the coverage of products and packages has been thoroughly reworked.

CHAPTER 14 (Distributing Products in a Timely and Efficient Manner) offers new material on multiple channels of distribution, non-traditional channels, and strategic channel alliances. The material on channel functions has been reworked and expanded. There are new sections on inventory control, outsourcing of logistics, manufacturers’ opening retail stores, and the rapid growth of Internet retailing.

CHAPTER 15 (Using Integrated Marketing Communications to Promote Products) has a completely new section on the impact of advertising. We also discuss the growing impact of technology and the Internet on traditional advertising. There are new sections on Internet advertising, creating an advertising campaign, couponing and product placement, and creating buzz. Blogging as a form of promotion, new technology applied to sales promotion, and podcasting are covered in new sections.

Chapter 16 (Using Technology to Manage Information) presents the latest developments in information technology and knowledge management, including networking trends and advances in software-on-demand services. The chapter also discusses digital forensics, a new field which provides tools for cyber-sleuthing; the shift to a distributed workforce model; and the rise in grid computing.

chapter 17 (Using Financial Information and Accounting) provides updates on the latest issues in accounting. These include the collaboration between U.S. and international accounting boards to develop global accounting standards, the costs and challenges of implementing the provisions of the Sarbanes-Oxley Act, and the changing relationship between accountants and their clients. The chapter also discusses FASB’s ongoing efforts to simplify the complexity of GAAP, which include the possible shift from rules-based to principles-based accounting and a different version of GAAP for small companies.

chapter 18 (Understanding Money and Financial Institutions) highlights the changing structure of the financial services industry. Financial institutions face new regulatory and compliance issues while striving to maintain and increase market share. Competitive pressures are pushing firms to look for new target markets such as Ivy League Moms and to once again focus on the personal touch through branch banking and similar services.

Chapter 19 (Managing the Firm’s Finances) highlights the shift in finance from a relatively isolated, inward-looking function to a unit that is heavily involved in shaping and implementing a company’s overall strategic objectives. CFOs are taking a more visible, active role, and financial managers must work closely with other business units. The chapter also provides new coverage of the role technology plays in improving the efficiency of financial processes and operations and the importance of developing adequate risk management procedures.

chapter 20 (Understanding Securities and Securities Markets) features extensive new material on the changes taking place in the securities markets. New sections explain the distinction between broker markets and dealer markets, discuss how major stock exchanges in both the United States and global securities markets are responding to competitive pressures, and describe ways that online brokerage firms are broadening the services they offer to investors.

SAMPLE SYLLABI

Course Title – Course Number

I. Course Information

A. Instructor’s Name

B. Office Location

C. E-Mail Address

D. Telephone Number

E. Office Hours

II. Textbook and Course Materials

A. The Future of Business, 6e by Gitman/McDaniel, 2008. Thomson South-Western Publishing.

B. ThomsonNOW, if applicable.

III. Course Description

This business course provides an introduction to the basic functions of business. It includes a discussion of the business environment, forms of business ownership, business ethics, management, human resources and labor-management issues, cultural diversity, marketing, technology, and finance.

IV. Course Objectives

Upon successful completion of this course, you will:

  1. Describe the dynamic business environment in which we live and work
  2. Explain economic concepts of supply and demand
  3. Identify ethical and socially responsible behavior in the business world
  4. Discuss the importance of global trade
  5. Evaluate different forms of business ownership
  6. Assess the contributions of small business to our economy
  7. Identify management skills necessary for success
  8. Explain the impact of organizational structure on achieving organizational goals
  9. Display an appreciation for cultural diversity
  10. Analyze theories of motivation
  11. Discuss the role of labor unions in business
  12. Provide examples of technology in operations management
  13. Develop a marketing strategy for a new product or service
  14. Apply principles of sound financial management
  15. Develop a personal investment plan
  16. Demonstrate proficiency with business vocabulary

V. Course Outline

10-Week Term:

Week 1 / Chapters 1 and 2
Week 2 / Chapters 3 and 4, Apple, Inc. Case Part 1
Week 3 / Chapters 5 and 6, Apple Inc. Case Part 2
Week 4 / Test #1, Chapters 7 and 8
Week 5 / Chapters 9 and 10
Week 6 / Chapters 11, Apple Inc. Case Part 3; Test #2, Chapter 12
Week 7 / Chapters 13-15, Apple Inc. Case Part 4
Week 8 / Test #3, Chapters 16-17, Apple Inc. Case Part 5
Week 9 / Chapters 18-19
Week 10 / Chapter 20, Apple Inc. Case Part 6; Test #4

15-Week Term:

Week 1 / Chapter 1
Week 2 / Chapters 2 and 3, Apple, Inc. Case Part 1
Week 3 / Chapter 4 and 5
Week 4 / Chapter 6, Apple, Inc. Case Part 2; Test #1,
Week 5 / Chapters 7 and 8
Week 6 / Chapters 9 and 10
Week 7 / Chapter 11, Apple, Inc. Case Part 3; Test #2
Week 8 / Chapters 12 and 13
Week 9 / Chapters 14 and 15, Apple Inc. Part 4
Week 10 / Test # 3
Week 11 / Chapters 16 and 17
Week 12 / Chapters 18 and 19
Week 13 / Chapter 20, Apple Inc. Part 5
Week 14 / Online Enrichment Chapter 1 and 2
Week 15 / Review; Test #4

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