| Detailed contents |
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xi | |
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xix | |
| About the authors |
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xxiii | |
| About the book |
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xxvii | |
| How to use this book |
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xxix | |
| How to use the Online Resource Centre |
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xxxi | |
| Acknowledgements |
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xxxiv | |
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1 Introduction: `business' and its `environments' |
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1 | (30) |
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The approach of this book-themes and issues |
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2 | (3) |
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5 | (1) |
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What is business? Broad and narrow definitions |
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5 | (4) |
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Dealing with the problem of scarcity |
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7 | (2) |
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The private sector of business |
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9 | (2) |
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The private sector-on closer inspection |
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11 | (4) |
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Free market vs. regulation? |
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11 | (1) |
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Competition vs. market power? |
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12 | (1) |
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Profit vs. social responsibility? |
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13 | (2) |
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Other sectors of business-the public sector and the third sector |
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15 | (2) |
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Differences between the private and public sectors |
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15 | (2) |
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A simple model of business in its environment-transforming inputs into outputs |
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17 | (2) |
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Porter's `five forces' model |
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19 | (1) |
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Conceptualizing the environment of business |
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19 | (2) |
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Spatial level-local to global |
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19 | (1) |
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Immediate and general environments |
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20 | (1) |
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20 | (1) |
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Interaction between business and the environment-responding, influencing, and choosing |
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21 | (3) |
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21 | (1) |
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21 | (1) |
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22 | (2) |
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24 | (2) |
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24 | (1) |
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24 | (1) |
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24 | (1) |
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25 | (1) |
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26 | (1) |
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27 | (2) |
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Review and discussion questions |
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29 | (1) |
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29 | (1) |
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29 | (1) |
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29 | (1) |
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30 | (1) |
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31 | (140) |
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2 The economic environment |
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32 | (31) |
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32 | (1) |
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33 | (1) |
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Describing the economic environment |
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33 | (1) |
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34 | (1) |
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34 | (1) |
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34 | (1) |
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34 | (1) |
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Developing the economic problem |
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34 | (3) |
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34 | (3) |
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37 | (1) |
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Perspectives on the economic environment |
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37 | (4) |
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39 | (2) |
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41 | (1) |
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The case for government intervention |
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41 | (4) |
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Disadvantages of the market system |
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42 | (1) |
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Competing critiques-the need to acknowledge the modern nature of capitalism |
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43 | (2) |
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Markets and how they operate |
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45 | (12) |
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45 | (2) |
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47 | (1) |
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48 | (1) |
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49 | (1) |
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50 | (1) |
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51 | (1) |
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Analysing market changes: the significance of equilibrium |
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52 | (1) |
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Equilibrium analysis explained |
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52 | (1) |
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Equilibrium analysis-guidelines for use |
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53 | (1) |
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53 | (3) |
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Income elasticity of demand |
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56 | (1) |
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57 | (2) |
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Case Study: The 2007 Credit Crunch and the Future of Capitalism |
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59 | (1) |
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59 | (2) |
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Review and discussion questions |
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61 | (1) |
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61 | (1) |
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61 | (1) |
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62 | (1) |
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62 | (1) |
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3 The technological environment |
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63 | (23) |
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63 | (1) |
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Introduction: what is technology? |
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64 | (1) |
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How does technology foster business growth and development? |
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65 | (1) |
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Total ouput/total amount of labour |
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66 | (1) |
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Creating the conditions for economic growth |
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66 | (4) |
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Competing perspectives about the role of technology-assessing the evidence |
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70 | (2) |
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Technology promotion within a business |
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72 | (2) |
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74 | (6) |
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75 | (1) |
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75 | (1) |
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76 | (3) |
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79 | (1) |
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80 | (1) |
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81 | (1) |
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Case Study: Just Google it! |
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82 | (1) |
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Review and discussion questions |
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83 | (1) |
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84 | (1) |
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84 | (1) |
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85 | (1) |
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85 | (1) |
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4 The political environment |
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86 | (28) |
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86 | (1) |
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Introduction: what is politics? Why is politics necessary? |
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87 | (1) |
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What has politics got to do with business? |
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88 | (2) |
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The interdependence of business and government |
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90 | (3) |
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90 | (1) |
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91 | (1) |
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91 | (1) |
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91 | (1) |
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92 | (1) |
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The international dimension |
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92 | (1) |
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93 | (6) |
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93 | (1) |
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94 | (3) |
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97 | (2) |
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Political values and ideologies |
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99 | (4) |
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100 | (3) |
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Ideology and political parties |
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103 | (2) |
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The main political parties |
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105 | (5) |
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105 | (2) |
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107 | (2) |
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109 | (1) |
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110 | (1) |
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110 | (1) |
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Case Study: The Return of `Big Government'? |
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111 | (1) |
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Review and discussion questions |
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112 | (1) |
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112 | (1) |
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113 | (1) |
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113 | (1) |
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113 | (1) |
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114 | (29) |
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The legal environment and the themes of the book |
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114 | (1) |
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115 | (1) |
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116 | (1) |
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116 | (4) |
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117 | (1) |
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117 | (1) |
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118 | (1) |
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119 | (1) |
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119 | (1) |
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The European Court of Justice |
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119 | (1) |
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Tribunals and alternative dispute resolution |
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119 | (1) |
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120 | (3) |
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120 | (1) |
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121 | (1) |
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Who enforces European law? |
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122 | (1) |
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123 | (5) |
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123 | (2) |
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125 | (1) |
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Limited Liability Partnerships |
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126 | (1) |
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126 | (1) |
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Separate legal personality |
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127 | (1) |
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Effect of separate legal personality |
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128 | (1) |
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128 | (5) |
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129 | (1) |
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130 | (1) |
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Company secretary/auditor |
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130 | (1) |
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General Meetings and written resolutions |
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131 | (1) |
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Legal action by shareholders |
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131 | (1) |
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132 | (1) |
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How far should the law intervene-regulation v deregulation |
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133 | (4) |
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133 | (1) |
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134 | (2) |
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136 | (1) |
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137 | (1) |
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137 | (1) |
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Case Study: The Working Time Directive |
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138 | (1) |
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Review and discussion questions |
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139 | (1) |
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139 | (1) |
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140 | (1) |
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140 | (1) |
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141 | (1) |
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142 | (1) |
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6 The social and cultural environment |
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143 | (28) |
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143 | (1) |
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Introduction: what is the social and cultural environment? |
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144 | (1) |
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Demographic trends-an ageing population |
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144 | (9) |
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146 | (3) |
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Implications of ageing for business and society |
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149 | (1) |
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The proposals of the Turner report |
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150 | (3) |
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Immigration and multiculturalism |
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153 | (3) |
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Implications of immigration for business and society |
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155 | (1) |
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156 | (6) |
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156 | (1) |
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157 | (1) |
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158 | (4) |
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Relevance of the class structure to business |
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162 | (1) |
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162 | (5) |
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Equality of opportunity versus equality of outcome |
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162 | (1) |
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The earnings distribution |
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163 | (1) |
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164 | (1) |
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What has inequality got to do with business? |
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164 | (3) |
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167 | (1) |
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167 | (1) |
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Case Study: Decline of the Working Class? |
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168 | (1) |
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Review and discussion questions |
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169 | (1) |
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169 | (1) |
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169 | (1) |
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170 | (1) |
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170 | (1) |
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171 | (292) |
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7 Keeping the economy stable |
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172 | (32) |
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172 | (1) |
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Introduction: the economy and macroeconomic policy |
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172 | (1) |
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The objectives of macroeconomic policy |
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173 | (13) |
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Macroeconomic objective 1 A stable and satisfactory rate of economic growth |
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174 | (3) |
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177 | (2) |
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179 | (1) |
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Macroeconomic objective 2 A high and stable level of employment, and a consistently low level of unemployment |
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180 | (4) |
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Macroeconomic objective 3 A low and stable rate of inflation |
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184 | (2) |
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The case for stabilizing the economy |
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186 | (4) |
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Questioning the need to stabilize output and employment |
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190 | (3) |
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From stabilization policy to controlling inflation |
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193 | (3) |
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Macroeconomic policy and the 2008-09 recession-a rebirth of Keynesianism |
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196 | (2) |
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198 | (1) |
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199 | (1) |
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Case Study: What Does an Independent Central Bank Do? |
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200 | (2) |
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Review and discussion questions |
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202 | (1) |
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202 | (1) |
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202 | (1) |
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203 | (1) |
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203 | (1) |
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8 Globalization of business: Good or bad? |
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204 | (25) |
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204 | (1) |
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Introduction: the impact of globalization on the business environment |
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205 | (2) |
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Globalization: from local to global? |
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206 | (1) |
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207 | (3) |
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International trade and the creation of the global marketplace |
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207 | (1) |
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Globally organized production and investment flows |
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208 | (1) |
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209 | (1) |
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209 | (1) |
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209 | (1) |
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Rapid technological change |
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210 | (1) |
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The growth of globalization |
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210 | (1) |
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Perspectives on globalization |
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211 | (7) |
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Classical and neoclassical views |
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211 | (1) |
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Ricardo and comparative advantage |
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211 | (3) |
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Radical/Marxist views: globalization is bad-the dependency tradition |
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214 | (1) |
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Structuralist writers-globalization could be good if |
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215 | (3) |
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Global ethics for the global business? |
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218 | (5) |
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220 | (1) |
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221 | (1) |
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221 | (1) |
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222 | (1) |
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222 | (1) |
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223 | (1) |
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Attitudes to graft and corruption |
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223 | (1) |
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223 | (1) |
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224 | (1) |
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225 | (1) |
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Review and discussion questions |
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226 | (1) |
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227 | (1) |
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227 | (1) |
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227 | (1) |
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228 | (1) |
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9 Can the marketplace be ethical? Corporate responsibility |
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229 | (28) |
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229 | (1) |
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230 | (2) |
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The emergence of the CR agenda |
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232 | (1) |
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Key terms in the discussion of corporate responsibility |
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233 | (3) |
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234 | (1) |
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234 | (1) |
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235 | (1) |
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236 | (4) |
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The free market view of CR |
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236 | (2) |
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Stakeholder theory and CR |
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238 | (2) |
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The nature of responsibility, and motivations for pursuing a CR policy |
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240 | (2) |
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241 | (1) |
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241 | (1) |
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242 | (1) |
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An overview of CR policy and process using Petrobras as a case study |
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242 | (1) |
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The process and practice of CR |
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243 | (7) |
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243 | (2) |
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Value clarification and management |
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245 | (3) |
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Responsibility negotiation and planning |
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248 | (1) |
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249 | (1) |
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Looking ahead, beyond the triple bottom line |
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250 | (1) |
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251 | (1) |
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Case Study: Nestle and Infant Formula |
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251 | (2) |
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Review and discussion questions |
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253 | (1) |
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253 | (1) |
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254 | (1) |
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254 | (1) |
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254 | (3) |
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10 Global warming, pollution, resource depletion and sustainable development: Is business the problem, and can it be part of the solution? |
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257 | (29) |
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257 | (1) |
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Introduction: the impact of sustainable development issues on the business environment |
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258 | (2) |
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258 | (1) |
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Moving from history to the present day |
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259 | (1) |
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The current global environmental problem and business, and the international response |
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260 | (7) |
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The current global environmental problem |
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260 | (4) |
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International responses: the `Earth Summit' and after |
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264 | (3) |
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The application of sustainable development frameworks to environmental issues |
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267 | (6) |
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Conventional frameworks for dealing with environmental issues |
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267 | (2) |
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The concept of sustainable development (SD) |
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269 | (1) |
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Types of approaches for dealing with environmental problems |
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270 | (3) |
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Sustainable development and business |
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273 | (6) |
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Defining sustainability in relation to business |
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273 | (5) |
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The significance of sustainable development for business |
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278 | (1) |
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279 | (1) |
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280 | (1) |
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Case Study: Sustainable Transport for a Large Business: The Case of Leeds Metropolitan University |
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280 | (3) |
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Review and discussion questions |
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283 | (1) |
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283 | (1) |
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283 | (1) |
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284 | (1) |
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285 | (1) |
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11 Does business have too much power? |
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286 | (28) |
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286 | (1) |
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287 | (7) |
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What is power? What's it got to do with business? |
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287 | (5) |
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292 | (2) |
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Engagement with Civil Society Organizations |
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294 | (2) |
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Business in the political arena |
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296 | (1) |
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The representation of business interests |
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297 | (1) |
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The play of interests and power in the political process |
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298 | (7) |
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The lessons of Sunday trading |
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300 | (5) |
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The privileged position of business |
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305 | (1) |
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305 | (1) |
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Business as a political actor |
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305 | (1) |
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The consequences of globalization |
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305 | (2) |
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The ups and downs of business influence over policymaking |
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307 | (1) |
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Business influence-nothing special' or `unique'? |
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308 | (1) |
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Is business influence in the political process a good thing? |
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308 | (1) |
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309 | (1) |
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310 | (1) |
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Case Study: The Political Influence of the Car Industry |
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310 | (2) |
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Review and discussion questions |
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312 | (1) |
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312 | (1) |
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312 | (1) |
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313 | (1) |
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313 | (1) |
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12 Are opportunities in business equal? |
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314 | (29) |
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314 | (2) |
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316 | (1) |
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Some preliminary definitions |
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316 | (9) |
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Why has equality of opportunity moved up the agenda? |
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319 | (2) |
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321 | (1) |
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322 | (1) |
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323 | (2) |
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325 | (2) |
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Why is work-life balance moving up the agenda? |
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327 | (2) |
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327 | (1) |
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The intensification of work |
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328 | (1) |
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329 | (1) |
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329 | (5) |
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330 | (2) |
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Part-time workers regulations |
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332 | (1) |
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Time off for family emergencies |
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332 | (1) |
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332 | (1) |
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332 | (1) |
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332 | (1) |
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The right to request flexible working |
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333 | (1) |
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333 | (1) |
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333 | (1) |
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334 | (2) |
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Summary-Does it matter? Is business responsible? |
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336 | (2) |
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338 | (1) |
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Case Study: Lloyds TSB and King's Healthcare NHS Trust |
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339 | (2) |
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Review and discussion questions |
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341 | (1) |
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341 | (1) |
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341 | (1) |
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341 | (1) |
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342 | (1) |
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13 European business: a deepening or widening Union? |
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343 | (31) |
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343 | (1) |
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Introduction: the EU and its members |
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344 | (5) |
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345 | (2) |
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347 | (2) |
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Institutions and decision-making |
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349 | (4) |
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Council of Ministers of the European Union |
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349 | (1) |
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350 | (1) |
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350 | (1) |
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Decision-making in the EU |
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351 | (1) |
|
Cultural diversity and business implications |
|
|
351 | (2) |
|
|
|
353 | (3) |
|
Restricted free trade: customs union to single market |
|
|
353 | (1) |
|
|
|
354 | (1) |
|
EU trade in a global business context |
|
|
355 | (1) |
|
|
|
356 | (5) |
|
Exchange rates and the euro |
|
|
356 | (2) |
|
|
|
358 | (1) |
|
Euro business strategy and operations: the UK and the euro |
|
|
359 | (2) |
|
Doing business in the new Europe |
|
|
361 | (5) |
|
Doing business in the new Europe-stakeholder management in the EU |
|
|
361 | (1) |
|
Competition and industry policy |
|
|
362 | (4) |
|
Europe and the future: ever-closer union or ...? |
|
|
366 | (2) |
|
|
|
366 | (1) |
|
|
|
367 | (1) |
|
|
|
368 | (1) |
|
|
|
369 | (1) |
|
Case Study: The Knowledge Economy: Finland and Nokia |
|
|
370 | (1) |
|
Review and discussion questions |
|
|
371 | (1) |
|
|
|
371 | (1) |
|
|
|
372 | (1) |
|
|
|
373 | (1) |
|
|
|
373 | (1) |
|
14 The changing public sector: becoming more `business-like'? |
|
|
374 | (28) |
|
|
|
|
|
374 | (1) |
|
|
|
375 | (2) |
|
The public and the private sectors |
|
|
376 | (1) |
|
|
|
376 | (1) |
|
The political environment and public sector management |
|
|
377 | (10) |
|
Politics and policymaking |
|
|
377 | (1) |
|
Central government and local authorities |
|
|
378 | (2) |
|
Public sector effectiveness and impact |
|
|
380 | (2) |
|
The changing public sector: becoming more `business like'? |
|
|
382 | (1) |
|
|
|
382 | (1) |
|
|
|
383 | (1) |
|
|
|
384 | (1) |
|
Approaches to reform in the context of public service management |
|
|
384 | (1) |
|
An outline of the reform strategy and implementation in Great Britain |
|
|
385 | (2) |
|
Public-private partnerships (PPPs) |
|
|
387 | (5) |
|
Private finance initiative (PFI) |
|
|
388 | (1) |
|
The importance of data collection and the auditing of public services |
|
|
389 | (1) |
|
Data, measurement, statistics, performance indicators |
|
|
390 | (1) |
|
|
|
391 | (1) |
|
|
|
391 | (1) |
|
The political and policy organizations |
|
|
392 | (3) |
|
|
|
393 | (1) |
|
|
|
394 | (1) |
|
|
|
395 | (1) |
|
|
|
396 | (1) |
|
Case Study: Fire Safety Provision in Society from the Volunteer to the Professional |
|
|
396 | (4) |
|
Review and discussion questions |
|
|
400 | (1) |
|
|
|
400 | (1) |
|
|
|
400 | (1) |
|
|
|
401 | (1) |
|
|
|
401 | (1) |
|
15 Entrepreneurship and enterprise: national drivers of economic performance? |
|
|
402 | (35) |
|
|
|
|
|
|
|
402 | (1) |
|
|
|
403 | (1) |
|
Understanding enterprise and entrepreneurship |
|
|
403 | (7) |
|
What is `an enterprise' or SME? |
|
|
405 | (1) |
|
|
|
405 | (1) |
|
Defining the entrepreneur as social, serial, or an intrapreneur |
|
|
406 | (3) |
|
What makes an entrepreneur? |
|
|
409 | (1) |
|
Key dimensions in the development of small business |
|
|
410 | (7) |
|
|
|
410 | (2) |
|
|
|
412 | (1) |
|
General building contractors |
|
|
412 | (3) |
|
|
|
415 | (2) |
|
The importance of new businesses and SMEs |
|
|
417 | (5) |
|
Strengths and weaknesses of small businesses |
|
|
422 | (1) |
|
Widening participation in entrepreneurship |
|
|
423 | (6) |
|
|
|
424 | (3) |
|
Black and minority ethnic (BME) entrepreneurs |
|
|
427 | (1) |
|
|
|
428 | (1) |
|
|
|
429 | (1) |
|
|
|
430 | (1) |
|
Case Study: The Female Entrepreneur (Interview) |
|
|
431 | (2) |
|
Review and discussion questions |
|
|
433 | (1) |
|
|
|
433 | (1) |
|
|
|
433 | (1) |
|
|
|
434 | (1) |
|
|
|
434 | (3) |
|
16 Conclusion: themes and issues-looking ahead |
|
|
437 | (26) |
|
|
|
|
|
|
|
437 | (1) |
|
|
|
438 | (2) |
|
Looking back to the future |
|
|
440 | (4) |
|
The global business environment post-1945 |
|
|
440 | (2) |
|
Domestic business environment in the first world |
|
|
442 | (1) |
|
|
|
443 | (1) |
|
Looking ahead: the political environment |
|
|
444 | (4) |
|
A new approach to combining the state and the market? The impact of the 2008-10 global recession on the political environment |
|
|
444 | (2) |
|
Challenges for the future political environment |
|
|
446 | (2) |
|
Looking ahead: the economic environment |
|
|
448 | (4) |
|
|
|
448 | (3) |
|
|
|
451 | (1) |
|
Looking ahead: the social environment |
|
|
452 | (4) |
|
|
|
452 | (3) |
|
|
|
455 | (1) |
|
Looking ahead: the technological environment |
|
|
456 | (2) |
|
Creating the knowledge economy-opportunities |
|
|
456 | (2) |
|
|
|
458 | (1) |
|
Case Study: The Football Business-The State of Play in 2010 |
|
|
458 | (1) |
|
Review and discussion questions |
|
|
459 | (1) |
|
|
|
460 | (1) |
|
|
|
460 | (1) |
|
|
|
461 | (2) |
| Glossary |
|
463 | (12) |
| Index |
|
475 | |
