Fundamentals of Business
Stephen Skripak, Virginia Tech
Pub Date: 2016
ISBN 13: 9780997920109
Publisher: Virginia Tech Libraries
Conditions of Use
The OER does well on covering topics in an introductory level business course. It adds a section that is not in typical business fundamental material of hospitality which compliments our new program that we started at our college. read more
The text is quite comprehensive covering: ECON, Ethics, Global Business, Forms of Ownership, Entre, MGMT, OB/OD, OM, Motivation, H/R, Unions, MKTG, Pricing, Hospitality MGMT, ACCT/FIN, and Personal FIN. Only areas "missing" = Information Systems... read more
This text does a good job of introducing key functions of an organization (Marketing, HR, Accounting/Finance) as well as core principles such as ethics, legal issues, and economics. The material is appropriate for an introductory course to serve... read more
The text covers all the typical topics for introductory business course. The Chapter 15: Hospitality and Tourism is relevant to the increasing industry segment. The last chapter on Personal Finances does come after Chapter 16 Accounting but seems... read more
The text has an extensive coverage and actually has several chapters one doesn't normally find in an introductory textbook on business. If this was a traditional textbook, I would not adopt it since there are superfluous chapters and sections that... read more
Table of Contents
Preface: Teamwork in Business
Chapter 1: The Foundations of Business
Chapter 2: Economics and Business
Chapter 3: Ethics and Social Responsibility
Chapter 4: Business in a Global Environment
Chapter 5: Forms of Business Ownership
Chapter 6: Entrepreneurship: Starting a Business
Chapter 7: Management and Leadership
Chapter 8: Structuring Organizations
Chapter 9: Operations Management
Chapter 10: Motivating Employees
Chapter 11: Managing Human Resources
Chapter 12: Union/Management Issues
Chapter 13: Marketing: Providing Value to Customers
Chapter 14: Pricing Strategy
Chapter 15: Hospitality and Tourism
Chapter 16: Accounting and Financial Information
Chapter 17: Personal Finances
About the Book
Virginia Tech Libraries and the Pamplin College of Business are pleased to announce publication of Fundamentals of Business, a full color, 440+ page free online textbook for Virginia Tech's Foundations of Business course. This Virginia Tech course averages 14 sections with over 700 students in Fall semesters. The textbook is an open educational resource, and may be customized and redistributed non-commercially with attribution.
The book is the work of Prof. Stephen Skripak and his team of faculty colleagues from the Pamplin College of Business, Anastasia Cortes and Richard Parsons, open education librarian Anita Walz, graphic designers Brian Craig and Trevor Finney, and student peer reviewers Jonathan De Pena, Nina Lindsay, and Sachi Soni. Assistive Technologies consulted on the accessibility of the textbook.
The first openly licensed book of its kind created at Virginia Tech, the book is in direct response to two problems faced by Pamplin's team of professors: a used edition of the previous textbook was priced as high as $215, and students were not engaged by the previous text.
Skripak and his colleagues started with an openly licensed textbook created in 2011 (licensed with a Creative Commons Attribution-NonCommercial-ShareAlike license) which legally allows modification and non-commercial redistribution with attribution. The team significantly updated, redesigned, and contributed new content to create a learning resource that fits course learning objectives and reduces student textbook costs for this course to zero. Through a grant from the University Libraries, three students were hired to peer review drafts of the text. The team worked together through details of updating data, designing new figures, and ensuring web and print-on-demand ready layout. The resulting work, Fundamentals of Business, is licensed with a Creative Commons Attribution-NonCommercial-ShareAlike license.
In addition to faculty members' ability to customize content and resolution of student affordability issues, the availability of an openly licensed text in common, editable file format bodes well for faculty at other institutions seeking to leverage academic freedom in support of student learning and affordability. The book is representative of a larger movement to empower faculty to freely adopt, adapt, and author a myriad of course types. We hope that many other institutions will take advantage of the opportunity to adopt, adapt or remix the book to fit their needs.
Fundamentals of Business is available in VTechWorks, Virginia Tech's institutional repository, in PDF and editable Microsoft Word formats. Print-on-demand copies are available at the cost of manufacturing and shipping in color and black & white from Lulu Press. The book is also featured in the Open Textbook Library, OER Commons, and MERLOT II.
Credits for cover images: “Hong Kong Skyscrapers” by Estial, cropped and modified by Trevor Finney CC BY-SA 4.0; “Paris vue d'ensemble tour Eiffel” by Taxiarchos228, cropped and modified by Poke2001 and Trevor Finney CC BY 3.0; “London Bridge” by Skitterphoto, cropped and modified by Trevor Finney, Public Domain; “New York” by Mscamilaalmeida, cropped and modified by Trevor Finney, Public Domain.
About the Contributors
Stephen J. Skripak, Professor of Practice in Management at Pamplin College of Business, Virginia Tech. Former Associate Dean for Graduate Programs (2006-2014). Senior executive with 25 years of business leadership experience, including positions as General Manager and Chief Financial Officer with divisions of Fortune 500 companies. Background includes financial services, consumer packaged goods, apparel, and industrial companies, with emphasis in turnaround situations.