Business in Action, 10th Edition
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Business in Action, 10th Edition

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Questions and Answers

What significant aspect of business did the pandemic highlight for students?

  • Employee motivation and leadership styles. (correct)
  • Historically successful management practices.
  • The role of technology in business.
  • Cost reduction strategies for supply chains.

    • Which feature of the 10th edition demonstrates a focus on current business practices?

  • Updates on digital transformation in business. (correct)
  • Simplified language in explanations.
  • Inclusion of historical case studies.
  • Elimination of vignettes and case studies.

    • What was one of the major improvements in the 10th edition?

  • Removal of outdated citations.
  • Comprehensive evaluations of every chapter for currency. (correct)
  • Updating content without any changes to structure.
  • Addition of new photo features.

    • How many new photos were added to the 10th edition to represent workforce diversity?

    <p>More than 70 new photos.</p> Signup and view all the answers

    What percentage of 'Behind the Scenes' vignettes in the 10th edition are new?

    <p>About half are new.</p> Signup and view all the answers

    What role does Bethany Yellowtail play in the context of Indigenous design traditions?

    <p>She integrates Indigenous design traditions into contemporary fashion.</p> Signup and view all the answers

    Which of the following aspects was NOT updated in the corporate social responsibility content?

    <p>Technological advancements in fashion.</p> Signup and view all the answers

    What new section was added under the consumer rights topic in the corporate social responsibility framework?

    <p>The Right to Equitable Service.</p> Signup and view all the answers

    Which of the following is a focus of the new material added regarding employee-related CSR topics?

    <p>Work-from-home benefits during the pandemic.</p> Signup and view all the answers

    What is a key concept that has been added to the sustainability section of the CSR content?

    <p>The concept of the circular economy.</p> Signup and view all the answers

    What is the primary role of Courtland L. Bovée?

    <p>Professor of Business</p> Signup and view all the answers

    Which company is mentioned in conjunction with document disclaimers?

    <p>Microsoft</p> Signup and view all the answers

    What kind of damages does Microsoft disclaim liability for?

    <p>Consequential damages</p> Signup and view all the answers

    What title does John V. Thill hold?

    <p>Chairman and Chief Executive Officer</p> Signup and view all the answers

    Where is the contact support site for queries regarding the content?

    <p><a href="https://support.pearson.com">https://support.pearson.com</a></p> Signup and view all the answers

    Who among the following is NOT listed as part of the product management team?

    <p>John V. Thill</p> Signup and view all the answers

    What does Microsoft state about the information provided?

    <p>It is provided without any warranty.</p> Signup and view all the answers

    What role does product marketing play in the content production?

    <p>Coordinates product marketing efforts</p> Signup and view all the answers

    What is a concern raised regarding AI in recruitment practices?

    <p>It may favor applicants from privileged backgrounds.</p> Signup and view all the answers

    Which skill does the 'Sharpening Your Communication Skills' activity aim to develop?

    <p>Effective communication in real-life scenarios.</p> Signup and view all the answers

    What type of activity is provided to help students develop collaboration skills?

    <p>Building Your Team Skills activities.</p> Signup and view all the answers

    How does the content address ethical decision-making?

    <p>By including the Resolving Ethical Dilemmas activity.</p> Signup and view all the answers

    What is a focus of the critical thinking assignments in the curriculum?

    <p>Defining, solving problems, and making judgments.</p> Signup and view all the answers

    Which skill is emphasized when students participate in the Practice Your Skills activities?

    <p>Application of developing business skills.</p> Signup and view all the answers

    What type of software does Seedlink represent in recruitment?

    <p>AI that compares applicant data with top performers.</p> Signup and view all the answers

    What overarching theme does the curriculum instill from the beginning regarding business practices?

    <p>Business ethics and social responsibility are crucial.</p> Signup and view all the answers

    What are the three dimensions of flexibility covered in Alternative Work Arrangements?

    <p>Place, time, and career path</p> Signup and view all the answers

    How has employee performance management changed according to contemporary practices?

    <p>From annual reviews to continuous, interactive feedback</p> Signup and view all the answers

    What major shift is revealed in understanding the role of labor unions today?

    <p>The emergence of labor unions in digital platforms</p> Signup and view all the answers

    What recent updates were made regarding marketing ethics and etiquette?

    <p>Separate discussions to clarify ethics and etiquette issues</p> Signup and view all the answers

    What aspect of pricing strategies has been expanded in the recent material?

    <p>Psychological pricing, reference prices, and MSRP</p> Signup and view all the answers

    What new section was included in the Customer Communication chapter?

    <p>The Power of Personalization</p> Signup and view all the answers

    What significant component has been streamlined in the discussion of major accounting rules?

    <p>Non-GAAP metrics and GAAP-IFRS convergence</p> Signup and view all the answers

    What is a new focus introduced in AI-Enabled Marketing?

    <p>Integration of AI across various marketing channels</p> Signup and view all the answers

    What was a focus of the case study featured in Financial Management?

    <p>Closing the venture capital funding gap for Black women</p> Signup and view all the answers

    What type of risks have been added to the discussion in Risk Management?

    <p>Ransomware, pandemics, and climate change effects</p> Signup and view all the answers

    What is the key theme in the updates regarding workforce analytics?

    <p>Major uses of analytics systems</p> Signup and view all the answers

    What significant change was noted in the structure of Product Distribution?

    <p>More disruption and innovation in retailing</p> Signup and view all the answers

    Which topic has received less focus in the revised Personal Finance section?

    <p>Detailed discussions on college expenses</p> Signup and view all the answers

    What was a major addition to coverage in Financial Markets regarding public stock offerings?

    <p>Detailed explanations of SPACs</p> Signup and view all the answers

    What new threats are discussed regarding Information Technology security?

    <p>Social engineering and deepfakes in phishing attacks</p> Signup and view all the answers

    Study Notes

    Business in Action, 10th Edition

    • Business in Action, 10th Edition, has been updated with numerous changes to reflect contemporary business practices and research.
    • The 10th Edition contains new content, updated material, and substantial revisions in several chapters.
    • New content includes a Behind the Scenes chapter opener and case study about IBM's Food Trust blockchain.
    • Updated discussions about non-GAAP metrics and GAAP-IFRS convergence are included.
    • The authors have streamlined the discussion of Sarbanes-Oxley.

    Chapter Updates

    • Chapter 1: Business and Its Environment: Updated to include the pandemic's impact on business management.
    • Chapter 2: Business Ethics and Social Responsibility: New section on taking sides on public issues.
    • Chapter 3: The Global Marketplace: New Behind the Scenes chapter opener and case study on how Yellowtail, a Native American fashion designer, respectfully incorporates Indigenous design traditions into contemporary fashion.
    • Chapter 4: Entrepreneurship, Small Business, and Strategic Management: New Behind the Scenes chapter opener and case study showcasing Black Women Talk Tech, an initiative addressing the venture capital funding gap for Black women company founders.
    • Chapter 5: Organizational Structure and Design: Updated to explore how external forces affect business management.
    • Chapter 6: Management and Leadership: Updated to incorporate leadership styles and organizational models in relation to the pandemic.
    • Chapter 7: Motivation and Teamwork: Updated to reflect how the pandemic influenced employee motivation.
    • Chapter 8: Communication in the Workplace: Numerous updates to communication laws and ethics and includes a new section on the power of personalization.
    • Chapter 9: Human Resource Management: Updated to cover the shift from annual reviews to continuous, interactive feedback.
    • Chapter 10: Production and Operations Management: Updated to include coverage of the circular economy concept.
    • Chapter 11: Human Resource Management: Updated to reflect the pandemic's impact on work-from-home arrangements and alternative work arrangements.
    • Chapter 12: The Art and Science of Marketing: Updated to include new material about attribution and marketing ROI.
    • Chapter 13: Product Management and Pricing Strategies: Expanded to cover algorithmic pricing and includes new coverage of the metaverse.
    • Chapter 14: Customer Communication and Product Distribution: Updated to reflect the future of retailing and includes a new section on AI-enabled marketing.
    • Chapter 15: Financial Information and Accounting Concepts: New Behind the Scenes chapter opener and case study about the impact of IBM’s Food Trust blockchain on the global food supply chain.
    • Chapter 16: Financial Management and Financial Markets: New Behind the Scenes chapter opener and case study about Black Women Talk Tech.
    • Appendix A: Business Law: New exhibits on elements of a contract and categories of intellectual property.
    • Appendix B: Risk Management: Discussion of ransomware, pandemics, and climate change effects on business risk is included.
    • Appendix C: Information Technology: New information on enterprise information systems, deepfakes in phishing attacks, and social engineering.
    • Appendix D: Personal Finance: Getting Set for Life: Updates on personal finance including new investment simulators.

    Solving Learning and Teaching Challenges

    • The text helps to solve learning and teaching challenges by providing a comprehensive coverage of contemporary business topics.
    • Students develop employability skills through real-life business case studies and projects designed to promote communication, critical thinking, collaboration, knowledge application, and analysis.
    • Business ethics and social responsibility are stressed and supported with activities encouraging students to be mindful of the ethical implications of their work.

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    Description

    Explore the key updates and revisions in the 10th edition of 'Business in Action'. This quiz covers significant changes, including the impact of the pandemic on business management and new content on ethics and global marketplace dynamics. Test your knowledge of contemporary business practices and case studies included in this edition.

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