Read more about Fundamentals of Business - 2nd Edition

Fundamentals of Business - 2nd Edition

(6 reviews)

Stephen J. Skripak, Virginia Tech

Copyright Year: 2018

ISBN 13: 9780997920178

Publisher: Virginia Tech Libraries

Language: English

Formats Available

Conditions of Use

Attribution-NonCommercial-ShareAlike Attribution-NonCommercial-ShareAlike


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Reviewed by Babu George, Associate Professor, Fort Hays State University on 10/26/18

This book covers the overall landscape of contemporary businesses pretty well. While nothing significant is 'lacking', I would love to have the authors provide a chapter that quickly takes students through the history of business and another... read more

Reviewed by Mindy Bean, Faculty, Linn-Benton Community College on 6/19/18

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

Reviewed by Jeff Bauer, Professor of Management & Dean, University of Cincinnati - Clermont on 3/27/18

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

Reviewed by Thomas Goodwin, Part-time Instructor, Miami University on 6/20/17

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

Reviewed by Ann Strunk, Adjunct Instructor, Klamath Community College on 6/20/17

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

Reviewed by Ehsan Salek, Professor of Business, Virginia Wesleyan College on 2/8/17

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

  • Chapter 1: Teamwork in Business
  • Chapter 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

Ancillary Material

About the Book

Fundamentals of Business, Second Edition (2018) is an 372-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.

What’s new? This version of the book, the Second Edition, improves upon the 2016 edition. Improvements include: - Correction of errata identified in the 2016 compilation and many minor improvements. - Renumbering of chapters and added front matter. - Addition of new content: the PESTEL model in Chapter 2, Qualtrax case study in Chapter 7, and substantive revision of Chapter 16 Hospitality and Tourism. - Addition of desktop and mobile friendly navigation features and interactive self-quizzing (Pressbooks version only). - Addition of links to related external videos. - Addition of a low-resolution version. - Addition of accessibility features. Accessible PDFs: Figures now include alternative text (AltText) which enables access by users of screen reader software. - Broader format availability: PDF, epub, mobi, html, PressbooksXML, and OpenDocument (ODF) which is unformatted text editable with MSWord. - Addition of a feedback form for reporting errata - Addition of a faculty listserv and sharing portal. - Errata and corrections made to the Pressbooks version. No changes made to other formats.

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 Brian Craig are available CC BY 4.0 via WikimediaCommons.

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. 

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.