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- Class Slides for Fundamentals of Business fourth editionPoff, Ron (2023)Class slides for Fundamentals of Business, fourth edition (2023) are freely-available, screen-reader friendly, openly-licensed, and editable. The slides align with the freely-available open textbook, Fundamentals of Business, fourth edition, which was designed for use in Virginia Tech’s Pamplin College of Business introductory level business course, MGT1104 Foundations of Business. The collection includes chapter-level .ppt slides for chapters 1 - 8 and 10. The remaining chapter slidedecks will be added as they become available. The open textbook, Fundamentals of Business, fourth edition, is freely available in PDF, ePub, Pressbooks, and other formats at https://doi.org/10.21061/fundamentalsofbusiness4e An online, interactive, accessible version of this book is available at: https://pressbooks.lib.vt.edu/fundamentalsofbusiness4e. About the license Unless otherwise noted, the book, slides, and contents therein are licensed with a Creative Commons Attribution NonCommercial ShareAlike (CC BY NC-SA) 4.0 license (human readable version) | legal code, which allows anyone to remix, tweak, and build upon the work for uses which are primarily non-commercial. New works must acknowledge the original work and be non-commercial. Derivative versions must be licensed under the same CC BY-NC-SA 4.0 license. See Creative Commons' Best Practices for Attribution for further information. Help us! If you are an instructor reviewing, adopting, or adapting this textbook and/or slides, please help us understand your use by filling out this form http://bit.ly/business-interest How to adapt and share the slides Instructors are encouraged to customize the slide deck by adding their own content and examples. According to the Creative Commons BY NC SA license, customized and shared versions of the slides must: - Retain the original copyright statement - Be released under the Creative Commons Attribution NonCommercial-ShareAlike (CC BY NC SA) 4.0 license - Include a link to the original slide deck source: http://hdl.handle.net/10919/105157 - Include brief statement regarding whether or not changes were made - List the name of the adapter Find, adapt, and share resources Instructors are encouraged to share their versions and other resources created for this content area via the Instructor Resource Portal in OER Commons. Errata and error reporting http://bit.ly/business-feedback Accessibility Virginia Tech is committed to making its publications accessible in accordance with the Americans with Disabilities Act of 1990. All figures within the slides have alternative text. Contributors Slide creation: Ron Poff Accessibility: Heather Blicher Figure design: Kindred Grey Project management: Anita Walz
- Entrepreneurship, Innovation, and Technology Management Program at Virginia Tech: Nomination for USASBE 2022 Model Program AwardTseng, Chien-Chi; Townsend, David M.; Poff, Ron (2022-01-07)
- Faculty & Student Panel Discussion: Issues in Course Materials Access and UseWalz, Anita R.; Cox, Larry A., II; Falls, Jonathan; Filer, Kimberly L.; Mantha, Anurag; Meinke-Lau, Billy; Poff, Ron (Virginia Tech. University Libraries, 2020-03-03)Faculty and student panelists will discuss the interplay of issues such as equity, cost, persistent access, customization, and pedagogical affordances in relation to open course materials, as well as implications for career advancement in academic contexts when creating and using such materials. We’ll consider a variety of perspectives on these considerations, challenging one another to engage with the complexities of championing openness in higher education.
- Fundamentals of Business, fourth editionPoff, Ron; Skripak, Stephen J. (Pamplin College of Business in association with Virginia Tech Publishing, 2023-01-05)
Fundamentals of Business, fourth edition (2023) is an 434-page open education resource intended to serve as a no-cost, faculty-customizable primary text for one-semester undergraduate introductory business courses. It covers the following topics in business: Teamwork; economics; ethics; entrepreneurship; business ownership, management, and leadership; organizational structures and operations management; human resources and motivating employees; managing in labor union contexts; marketing and pricing strategy; hospitality and tourism, accounting and finance, personal finances, and technology in business. The textbook was designed for use in Virginia Tech’s Pamplin College of Business introductory level business course, MGT1104 Foundations of Business and is shared under a Creative Commons Attribution Non-Commercial ShareAlike 4.0 license. The main landing page for this book is: https://doi.org/10.21061/fundamentalsofbusiness4e An online, interactive, accessible version of this book is available at: https://pressbooks.lib.vt.edu/fundamentalsofbusiness4e. Information for instructors
If you are an instructor reviewing, adopting, or adapting this textbook, please help us understand your use by filling out this form. If you are an instructor seeking supplementary resources for teaching, please join the listserv for this book and the instructor resource sharing portal. Slides are available for this book.
A test bank is available by request for this book.
Please note that the test bank does not at this point reflect changes made between the third and fourth editions. The test bank is available to any instructor who has adopted Fundamentals of Business in their course. ISBNs
ISBN (print - color): 978-1-957213-24-8
Order a print copy here (color)
ISBN (print-black & white): 978-1-957213-25-5
Order a print copy here (B&W)
ISBN (PDF): 978-1-957213-21-7
ISBN (Pressbooks): 978-1-957213-23-1
Pressbooks
ISBN (EPUB): 978-1-957213-22-4 Instructors reviewing, selecting or adapting the text are encouraged to register their use by filling out this form in order to stay up to date regarding new volumes and editions, supplements, newly issued print versions, errata, and collaborative development or research opportunities. You may submit comments or report errors using this form. Additional suggestions or feedback may be submitted via email at: publishing@vt.edu. View errata
Report an error This work is published by Pamplin College of Business in association with Virginia Tech Publishing. Funding and technical assistance for this project was provided by the University Libraries' Open Education Initiative. Accessibility notice
Virginia Tech Publishing is committed to making its publications accessible in accordance with the Americans with Disabilities Act of 1990. The Pressbooks (HTML) and ePub versions of this text are tagged structurally and include alternative text, which allows for machine readability. What’s new? This version of the book, the Fourth Edition, improves upon the 2016, 2018, and 2020 editions. Improvements include: - Data updates - Updated graphics and photos; - Added interactive, live-data graphs to the online version for key economic indicators in Chapter 3: Economics and Business; - Reorganized and added significant additional content to Chapter 4: Ethics and Social Responsibility; - Renamed and substantially expanded content in Chapter 7: Entrepreneurship and Small Business Development; - Added additional content to chapters 8, 10, 12, 13, 14, and 17; - Addition of completely new chapter — Chapter 19: Technology in Business; A detailed list of changes by chapter is available in Version Notes at the back of the book. Features of the book
Each chapter lists learning objectives at the beginning of the chapter and key takeaways at the end of the chapter. The Pressbooks version of this book also includes interactive self-quizzing. Table of contents 1. Teamwork in Business 2. The Foundations of Business 3. Economics and Business 4. Ethics and Social Responsibility 5. Business in a Global Environment 6. Forms of Business Ownership 7. Entrepreneurship and Small Business Development 8. Management and Leadership 9. Structuring Organizations 10. Operations Management 11. Motivating Employees 12. Managing Human Resources 13. Union/Management Issues 14. Marketing: Providing Value to Customers 15. Pricing Strategy 16. Hospitality and Tourism 17. Accounting and Financial Information 18. Personal Finances 19. Technology in Business How to cite this book
Ron Poff (2023). Fundamentals of Business, 4th Edition, Blacksburg: Pamplin College of Business. https://doi.org/10.21061/fundamentalsofbusiness4e. Licensed with CC BY-NC-SA 4.0 https://creativecommons.org/licenses/by-nc-sa/4.0. About the author
About the previous author
Fundamentals of Business, 4th edition is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA 3.0) by a publisher who has requested that they and the original author not receive attribution. We wish to extend our gratitude to the original author for portions of her book which were remixed and adapted to form portions of Chapters 1-15 and 17-18 of Fundamentals of Business. If the publisher and author are both willing to allow us to provide attribution to the author while retaining use of the Creative Commons license and continuing to provide free public access, we will gladly and publicly thank the original author here. About Ron Poff
Ron Poff is Assistant Professor of Management Practice in the Management Department at Pamplin College of Business, Virginia Tech, where he teaches management courses. He began his career as an enlisted member of the US Navy Reserves before entering his primary career in supply chain operations then sales and marketing, where he served in executive roles with large corporations for over 25 years. As an entrepreneur, he then founded his own marketing agency. His education includes a B.S. in Business Management, M.S. Marketing, and a Graduate Certificate in eMarketing. About Stephen Skripak
Stephen J. Skripak is retired Professor of Practice in Management at Pamplin College of Business, Virginia Tech (2005 - 2021) and former Associate Dean for Graduate Programs (2006-2014). He is a senior executive with 25 years of business leadership experience, including positions as General Manager and Chief Financial Officer with divisions of Fortune 500 companies. His background includes financial services, consumer packaged goods, apparel, and industrial companies, with emphasis in turnaround situations. He was the lead contributor and subject matter expert for the 2016 and 2018 editions of Fundamentals of Business, and reviewed the 2020 and 2023 versions of the book. Contributors
Lead contributor: Ron Poff
Contributors to the fourth edition: Howard Haines, John Andy Travers
Managing editor: Anita Walz
Editorial assistant, graphic design, and production manager: Kindred Grey
Past reviewers/contributors: Anastasia Cortes, Jonathan De Pena, Lisa R. Fournier, Lauren Holt, Nina Lindsay, Katie Manning, Sarah Mease, Richard Parsons, Sachi Soni, Michael Stamper, Gary Walton, and Blake Warner - Fundamentals of Business, third editionSkripak, Stephen J.; Poff, Ron (Pamplin College of Business in association with Virginia Tech Publishing, 2020-07)Please note that a 4th edition of the open textbook, Fundamentals of Business, was released in 2023: https://doi.org/10.21061/fundamentalsofbusiness4e.
Fundamentals of Business, third edition (2020) is an 370-page open education resource intended to serve as a no-cost, faculty customizable primary text for one-semester undergraduate introductory business courses. It covers the following topics in business: Teamwork; economics; ethics; entrepreneurship; business ownership, management, and leadership; organizational structures and operations management; human resources and motivating employees; managing in labor union contexts; marketing and pricing strategy; hospitality and tourism, accounting and finance, and personal finances. The textbook was designed for use in Virginia Tech’s Pamplin College of Business introductory level business course, MGT1104 Foundations of Business and is shared under a Creative Commons Non-Commercial ShareAlike 4.0 license. An online, interactive, accessible version of this book is available at: https://pressbooks.lib.vt.edu/fundamentalsofbusiness3e If you are an instructor reviewing, adopting, or adapting this textbook, please help us understand your use by filling out this form. If you are an instructor seeking supplementary resources for teaching, please join the listserv for this book and the resource sharing portal. A testbank is now available by request for this book. The testbank is available to any instructor who has adopted Fundamentals of Business in their course. Permanent handle: http://hdl.handle.net/10919/99283 (PDF, epub, and other versions)
DOI: https://doi.org/10.21061/fundamentals-of-business3e (eBook-Pressbooks)
DOI: https://doi.org/10.21061/fundamentals-of-business3e-vtechworks (PDF, epub, and other versions) ISBNs
ISBN (print - color): 9781949373356
ISBN (print - B&W): 9781949373349
ISBN (PDF): 9781949373882
ISBN (Pressbooks): 9781949373875
ISBN (epub): 9781949373363 Are you reviewing or adopting this book for a course?
Please help us understand your use by filling out this form. Errata and error reporting
View errata
Report an error This work is published by Pamplin College of Business in association with Virginia Tech Publishing. Accessibility notice
Screen reader accessible versions of this text currently include ePub and Pressbooks versions. PDFs of the text do not currently have all available accessibility features enabled. What’s new?
The third edition improves upon the 2016 and 2018 editions.
Improvements include: - Data updates - Updated figures (graphics and images) modernized to new color palette and to include more representative images of people; - Updated content, especially to reflect changes in technology, law, and economics; - Updated examples to include companies more familiar to today’s students. A detailed list of changes by chapter is available in the version notes at the back of the book. Features of the book
Each chapter lists learning objectives at the beginning of the chapter and key takeaways at the end of the chapter. The Pressbooks version of this book also includes interactive self-quizzing. Editable files are available in HTML, Open Document, PressBooks XML, ePub, MOBI, and PDF. Selected graphics produced by Kindred Grey are available under a CC BY SA 4.0 license via WikimediaCommons. Table of contents
Chapter 1: Teamwork in Business vChapter 2: The Foundations of Business
Chapter 3: Economics and Business
Chapter 4: Ethics and Social Responsibility
Chapter 5: Business in a Global Environment
Chapter 6: Forms of Business Ownership
Chapter 7: Entrepreneurship: Starting a Business
Chapter 8: Management and Leadership
Chapter 9: Structuring Organizations
Chapter 10: Operations Management
Chapter 11: Motivating Employees
Chapter 12: Managing Human Resources
Chapter 13: Union/Management Issues
Chapter 14: Marketing: Providing Value to Customers
Chapter 15: Pricing Strategy
Chapter 16: Hospitality and Tourism
Chapter 17: Accounting and Financial Information
Chapter 18: Personal Finances Suggested citation
Skripak, Stephen J. and Poff, Ron (2020). Fundamentals of Business, 3rd Edition, Blacksburg, VA: VT Publishing. http://hdl.handle.net/10919/99283. Licensed with CC BY-NC-SA 4.0 https://creativecommons.org/licenses/by-nc-sa/4.0. About the author
About the previous author
Fundamentals of Business, 3rd edition is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA 3.0) by a publisher who has requested that they and the original author not receive attribution. We wish to extend our gratitude to the original author for portions of their book which were remixed and adapted to form portions of Chapters 1-15 and 17-18 of Fundamentals of Business. If the publisher and author are both willing to allow us to provide attribution to the author while retaining use of the Creative Commons license and continuing to provide free public access, we will gladly and publicly thank the original author here. Stephen Skripak
Stephen J. Skripak is Professor of Practice in Management at Pamplin College of Business, Virginia Tech and former Associate Dean for Graduate Programs (2006-2014). He is a senior executive with 25 years of business leadership experience, including positions as General Manager and Chief Financial Officer with divisions of Fortune 500 companies. His background includes financial services, consumer packaged goods, apparel, and industrial companies, with emphasis in turnaround situations. Ron Poff
Ron Poff is Assistant Professor of Management Practice in the Management Department at Pamplin College of Business, Virginia Tech, where he teaches management courses. He began his career as an enlisted member of the US Navy Reserves before entering his primary career in supply chain operations then sales and marketing, where he served in executive roles with large corporations for over 25 years. As an entrepreneur, he then founded his own marketing agency. His education includes a B.S. in Business Management, M.S. Marketing, and a Graduate Certificate in eMarketing. Contributors
Lead contributor: Ron Poff
Managing editor: Anita Walz
Reviewers/contributors: Lisa R. Fournier, Kindred Grey, Lauren Holt, Katie Manning, Sarah Mease, Michael Stamper, and Blake Warner
Past reviewers/contributors: Anastasia Cortes, Jonathan De Pena, Nina Lindsay, Richard Parsons, Sachi Soni, and Gary Walton
Digital and print production: Robert Browder
Cover design, figure design, and alternative text: Kindred Grey - Testbank for Fundamentals of BusinessBamgarner, Sarah; Cortes, Anastasia; Futyma, Frank; Goodwin, Thomas; Hertweck, Bryan; Manfred, Michelle; Poff, Ron; Tuttle, Mallory; Watters, Sheila; Walz, Anita R. (2019-01)
About the test bank
The test bank includes 377 peer-reviewed, multiple-choice questions which correspond to topics taught in introductory-level business open textbook, Fundamentals of Business (2018) and (2020) which are freely available. Between 11-29 multiple-choice items are available for each of the following topics: Teamwork in Business, Foundations of Business, Economics and Business, Ethics and Social Responsibility, Business in a Global Environment, Forms of Business Ownership, Entrepreneurship: Starting a Business, Management and Leadership, Structuring Organizations, Operations Management, Motivating Employees, Managing Human Resources, Union/Management Issues, Marketing: Providing Value to Customers, Pricing Strategy, Hospitality and Tourism, Accounting and Financial Information, and Personal Finances. Requirements for test bank access
The test bank is available to any instructor who has adopted Fundamentals of Business in their course. It is NOT available to students for self-study nor is it available for research purposes. Please complete steps 1-3 below. STEP 0 (optional): View and test the "sample" files in the left hand column to determine which format works best for you. Additional information about each format type is available below under the formats section.
STEP 1 (required): Indicate requested files by clicking on any of the test bank files on the left (marked "permission required") add a note and press submit to request access.
STEP 2 (required): Email a copy of your course syllabus to openeducation@vt.edu
STEP 3 (required): Complete and submit the User Verification Process Form linked here. You will receive a copy of your request via email. Requested files will be released via email when steps two through four have been completed and reviewed. Note that access approvals are processed only during regular business hours. PLEASE NOTE that some campus emails block messages with zip files (which is the format of the test bank.) If you know your campus email does this, please indicate this and include an alternate email when you request the test bank. If you have submitted all required documentation and not heard anything after 3-5 business days, please contact openeducation@vt.edu as our email to you may have been blocked. Sample questions
Sample questions are available for those who wish to test various formats and assess the suitability of the test bank as part of their course material adoption decision-making process. Sample questions are provided in the same formats (XLS, Canvas IMS QTI 1.1.3, XML QTI, and Blackboard formats) as the permission-only test bank files. Sample questions have been removed from the electronically secure test bank. Formats
The test bank and portions thereof are available in multiple formats. Links to external sites regarding uploading different types of QTI files are here: Canvas | Blackboard or on the help pages for your respective learning management system by searching for "QTI". Files marked "IMS QTI 1.1.3" and have been tested to successfully import into Canvas but may work with other LMS/VLE systems. Please use the sample files to determine if one of the export formats will work for your specific situation. Please note that we are unable to provide additional file types, support for uploading, or assistance with reformatting files. Please contact your local learning management system (LMS) manager for additional support. 1. XLS (377 items): - Question and up to four multiple choice answers with the answer marked, - Question numbers, and - Chapter name, question type (factual or applied/conceptual), and level of difficulty information (Levels 1-3, with 1 being the easiest and 3 being the most difficult) are included on the item level. 2. Canvas IMS QTI 1.1.3 (377 items or 18 chapter-by chapters files containing 377 items): - Question and up to four multiple choice answers with the answer marked, - Question numbers, and - Chapter name, question type, and level of difficulty information are NOT included on the item level. 3. XML QTI (individual chapter-level test banks - 18 zip files): - Question and up to four multiple choice answers with the answer marked, - Question numbers, and - Chapter name, question type, and level of difficulty information are NOT included on the item level. 4. Blackboard (377 items or 18 chapter-by-chapter files containing 377 items): - Question and up to four multiple choice answers with the answer marked, - Question numbers, and - Chapter name, question type, and level of difficulty information are NOT included on the item level. Terms of use
Test bank questions and answers are the Copyrighted property of their creators.
Verified users are responsible for secure handling of the test bank. While every effort is given to ensure security of test bank questions or answers and release only to verified users, no warranties are given regarding the security of the test bank. Virginia Tech and the test bank authors can authorize and require, but cannot control what you or any other verified user does.
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Verified users may: - reproduce, - modify, and - redistribute
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Test bank access is limited to only those instructors who intend to use Fundamentals of Business in their course. In order to be verified, an instructor must: - Agree to the Terms of Use - Submit a copy of their course syllabus to openeducation@vt.edu (you retain all rights) - Confirm intent to adopt Fundamentals of Business for their course - Use an .edu address and provide verifiable information of their status as a business instructor
To be verified or to provide alternate credentials, please follow the "instructions for test bank access" above. Contact us
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The information in the test bank is of a proprietary nature, produced by or for faculty of public institutions of higher education as a result of collaborative study, research, and peer review. Because it is intended to be used in student assessment the information has not been publicly released or published. If you become aware of public distribution of the test bank or portions thereof shared outside of a secure electronic environment, assessment context, or other security breach please inform us at: openeducation@vt.edu. Liability
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