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xvi | |
| About the authors |
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xix | |
| About the book |
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xxii | |
| How to use this book |
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xxiv | |
| How to use the Online Resource Centre |
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xxvi | |
| Acknowledgements |
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xxviii | |
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1 Introduction: `Business' and its `environment' in a `globalizing world' |
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1 | (30) |
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The approach of this book--themes and issues |
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3 | (3) |
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6 | (1) |
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6 | (1) |
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What is business? Broad and narrow definitions |
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7 | (4) |
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Dealing with the problem of scarcity |
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9 | (2) |
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The private sector of business |
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11 | (6) |
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Free market vs. regulation? |
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12 | (4) |
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Competition vs. market power? |
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16 | (1) |
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Profit vs. social responsibility? |
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16 | (1) |
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Other sectors of business--the public sector and the third sector |
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17 | (3) |
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Differences between the private and public sectors |
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18 | (2) |
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Conceptualizing the environment of business |
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20 | (1) |
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Spatial level--local to global |
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20 | (1) |
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Immediate and general environments |
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20 | (1) |
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21 | (1) |
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Interaction between business and the environment--responding, influencing, and choosing |
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21 | (2) |
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21 | (1) |
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21 | (1) |
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22 | (1) |
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23 | (3) |
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23 | (1) |
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24 | (1) |
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24 | (1) |
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24 | (2) |
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26 | (1) |
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Case Study: Tax avoidance in a globalizing world--managing costs efficiently or acting immorally? |
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26 | (2) |
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Review and discussion questions |
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28 | (1) |
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28 | (1) |
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28 | (1) |
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29 | (1) |
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29 | (2) |
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31 | (196) |
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2 The economic environment |
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33 | (28) |
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33 | (1) |
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34 | (1) |
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Describing the economic environment |
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34 | (1) |
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35 | (1) |
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35 | (1) |
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35 | (1) |
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35 | (1) |
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Business and the economic problem |
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35 | (3) |
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35 | (1) |
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What makes for an efficient economic environment? |
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36 | (1) |
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36 | (1) |
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37 | (1) |
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37 | (1) |
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Perspectives on the economic environment |
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38 | (2) |
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The ebbs and flows of the modern economic environment--capitalism and shifting currents of opinion |
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40 | (5) |
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Adam Smith and the birth of classical political economy |
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41 | (2) |
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How do market systems work? |
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43 | (1) |
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Specialization and the division of labour |
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43 | (1) |
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44 | (1) |
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44 | (1) |
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44 | (1) |
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44 | (1) |
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45 | (1) |
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When do markets not work? Market failures and the case for government intervention |
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45 | (5) |
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45 | (1) |
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46 | (1) |
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46 | (1) |
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46 | (1) |
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47 | (1) |
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Microeconomic instability--price elasticity and income elasticity of demand |
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47 | (1) |
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The three degrees of price elasticity of demand |
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47 | (1) |
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Income elasticity of demand |
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48 | (1) |
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Macroeconomic Instability |
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49 | (1) |
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49 | (1) |
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Competing perspectives--social reform and socialism |
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50 | (1) |
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The development of global capitalism in the 20th century |
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51 | (1) |
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The domestic business environment |
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51 | (1) |
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The global business environment--one world economy or three? |
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52 | (4) |
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The rise of the neoclassical (neoliberal) perspective--from three worlds to one? |
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54 | (2) |
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56 | (1) |
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56 | (1) |
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Case Study: The 2008 Credit crunch and the future of capitalism |
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57 | (1) |
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Review and discussion questions |
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58 | (1) |
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58 | (1) |
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59 | (1) |
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59 | (1) |
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59 | (2) |
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3 The technological environment |
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61 | (24) |
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61 | (1) |
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62 | (1) |
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62 | (2) |
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The impact of technology on business and the implications for business strategy |
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64 | (1) |
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65 | (2) |
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The evolution of technological change |
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67 | (2) |
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Perspectives on the creation of favourable technological environments |
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69 | (3) |
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Is the world becoming flat? |
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72 | (4) |
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The great innovation debate |
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76 | (2) |
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78 | (2) |
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80 | (1) |
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Case Study: Just Google it! |
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80 | (2) |
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Review and discussion questions |
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82 | (1) |
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82 | (1) |
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82 | (1) |
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83 | (1) |
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83 | (2) |
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4 The political environment |
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85 | (28) |
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85 | (1) |
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Introduction: what is politics? What has politics got to do with business? |
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86 | (3) |
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Creating the `best place to do business' |
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89 | (1) |
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The interdependence of business and government |
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90 | (4) |
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91 | (1) |
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91 | (2) |
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93 | (1) |
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93 | (1) |
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93 | (1) |
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The international dimension |
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94 | (1) |
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Types of political system |
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94 | (3) |
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95 | (1) |
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Variants of liberal democracy |
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96 | (1) |
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97 | (4) |
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Economic and political differences in a globalizing world |
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101 | (3) |
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Is democracy linked to economic success? |
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103 | (1) |
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104 | (2) |
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Supra-national governance--the European Union |
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105 | (1) |
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106 | (1) |
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106 | (1) |
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107 | (1) |
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Case Study: The rise (and fall?) of Big Government |
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108 | (2) |
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Review and discussion questions |
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110 | (1) |
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110 | (1) |
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111 | (1) |
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111 | (1) |
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111 | (2) |
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113 | (30) |
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The legal environment and the themes of the book |
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113 | (1) |
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114 | (1) |
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115 | (1) |
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116 | (3) |
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116 | (1) |
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116 | (1) |
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116 | (1) |
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117 | (1) |
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117 | (1) |
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118 | (1) |
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118 | (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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Comparison of court systems |
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119 | (1) |
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119 | (4) |
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120 | (1) |
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120 | (1) |
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120 | (1) |
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121 | (1) |
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Who enforces European law? |
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121 | (2) |
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123 | (4) |
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124 | (1) |
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124 | (1) |
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Limited liability partnerships |
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125 | (1) |
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125 | (1) |
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Public vs. private companies |
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125 | (1) |
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Separate legal personality |
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126 | (1) |
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Effect of separate legal personality |
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127 | (1) |
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127 | (5) |
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128 | (1) |
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129 | (1) |
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Company secretary/auditor |
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129 | (1) |
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General Meetings and written resolutions |
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130 | (1) |
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Legal action by shareholders |
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130 | (1) |
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131 | (1) |
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How far should the law intervene--regulation v deregulation |
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132 | (4) |
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132 | (1) |
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133 | (2) |
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Alternatives to regulation? |
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135 | (1) |
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136 | (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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139 | (1) |
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140 | (1) |
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140 | (2) |
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142 | (1) |
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6 The social and cultural environment |
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143 | (30) |
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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--a growing and ageing population |
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144 | (10) |
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147 | (3) |
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Implications of ageing for business and society |
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150 | (4) |
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Immigration and multiculturalism |
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154 | (3) |
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Implications of immigration for business and society |
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155 | (2) |
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157 | (5) |
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157 | (1) |
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158 | (1) |
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159 | (2) |
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Relevance of the class structure to business |
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161 | (1) |
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162 | (6) |
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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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165 | (1) |
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165 | (1) |
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166 | (1) |
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166 | (1) |
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166 | (1) |
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167 | (1) |
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Greed and social responsibility |
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167 | (1) |
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167 | (1) |
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168 | (1) |
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168 | (1) |
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Case Study: Social mobility--Is Britain a mobile society? How do we compare to other rich countries? |
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169 | (1) |
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Review and discussion questions |
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170 | (1) |
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170 | (1) |
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171 | (1) |
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171 | (1) |
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171 | (2) |
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7 Can the marketplace be ethical? Corporate responsibility |
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173 | (26) |
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173 | (1) |
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174 | (1) |
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The emergence of the CR agenda |
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175 | (2) |
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Key terms in the discussion of corporate responsibility |
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177 | (2) |
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177 | (1) |
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178 | (1) |
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178 | (1) |
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179 | (2) |
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The free market view of CR |
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179 | (2) |
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Stakeholder theory and CR |
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181 | (3) |
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The nature of responsibility and motivations for pursuing a CR policy |
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184 | (2) |
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185 | (1) |
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185 | (1) |
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185 | (1) |
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An overview of CR policy and process using Petrobras as a case study |
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186 | (1) |
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The process and practice of CR |
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186 | (7) |
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187 | (2) |
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Value clarification and management |
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189 | (2) |
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Responsibility negotiation and planning |
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191 | (1) |
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192 | (1) |
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Looking ahead--beyond the triple bottom line |
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193 | (1) |
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194 | (1) |
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195 | (1) |
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Review and discussion questions |
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196 | (1) |
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197 | (1) |
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197 | (1) |
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197 | (1) |
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198 | (1) |
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8 The natural environment: global warming, pollution, resource depletion, and sustainable development |
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199 | (28) |
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199 | (1) |
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Introduction: the natural environment of business |
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200 | (5) |
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200 | (1) |
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Moving from history to the present day |
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200 | (1) |
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The current global environmental problem and business, and the international response |
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201 | (1) |
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201 | (1) |
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Pollution and resource depletion |
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202 | (3) |
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International responses: the `Earth Summit' and after |
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205 | (3) |
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205 | (1) |
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Agenda 21--Global programme of action on sustainable development |
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205 | (1) |
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UN Framework Convention on Climate Change |
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206 | (1) |
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From Rio 1992 to Doha 2012 |
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206 | (2) |
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The application of sustainable development frameworks to environmental issues |
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208 | (1) |
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Conventional frameworks for dealing with environmental issues |
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208 | (1) |
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The concept of sustainable development (SD) |
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209 | (3) |
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Definitions of sustainable development |
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209 | (1) |
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Development of sustainable development initiatives |
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210 | (1) |
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Types of approaches for dealing with environmental problems |
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211 | (1) |
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`Market based' policy measures |
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211 | (1) |
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`Non-market based' policy measures |
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211 | (1) |
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211 | (1) |
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Sustainable development and business |
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212 | (5) |
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Defining sustainability in relation to business |
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212 | (1) |
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213 | (1) |
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213 | (1) |
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Product and communications |
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214 | (1) |
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215 | (2) |
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The significance of sustainable development for business |
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217 | (3) |
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219 | (1) |
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220 | (1) |
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221 | (1) |
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Case Study: Sustainable transport for a large business: the case of Leeds Metropolitan University |
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221 | (3) |
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Review and discussion questions |
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224 | (1) |
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224 | (1) |
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224 | (1) |
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225 | (1) |
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225 | (2) |
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227 | (228) |
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9 Growth versus austerity: The macroeconomy in a globalizing world |
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229 | (32) |
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229 | (1) |
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Introduction: the economy, macroeconomic policy, and globalization |
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229 | (13) |
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The objectives of macroeconomic policy |
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230 | (1) |
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Macroeconomic objective 1: a stable and satisfactory rate of economic growth |
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231 | (3) |
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234 | (1) |
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235 | (2) |
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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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237 | (4) |
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Macroeconomic objective 3: a low and stable rate of inflation |
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241 | (1) |
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The case for stabilizing the economy |
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242 | (5) |
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Questioning the need to stabilize output and employment |
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247 | (4) |
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From stabilization policy to controlling inflation |
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249 | (2) |
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Domestic macroeconomic policy in a globalized world |
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251 | (4) |
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Globalization's impact on domestic growth policy |
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252 | (1) |
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Globalization's impact on the pursuit of a high and stable level of employment |
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253 | (1) |
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Globalization's impact on achieving a low and stable rate of inflation |
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254 | (1) |
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Global influences on domestic macroeconomic policy |
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255 | (1) |
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255 | (1) |
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256 | (1) |
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Case Study: Austerity in and out of the euro area, a necessity or a choice? |
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256 | (2) |
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Review and discussion questions |
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258 | (1) |
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259 | (1) |
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259 | (1) |
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259 | (1) |
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259 | (2) |
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10 Globalization of business: Good or bad? |
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261 | (25) |
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261 | (1) |
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Introduction: the impact of sustainable development issues on the business environment |
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262 | (1) |
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263 | (2) |
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International trade and the creation of the global marketplace |
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263 | (1) |
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Globally organized production and investment flows |
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264 | (1) |
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264 | (1) |
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265 | (1) |
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265 | (1) |
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Rapid technological change |
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265 | (1) |
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The growth of globalization |
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265 | (1) |
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Perspectives on globalization |
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266 | (7) |
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Neoclassical/neoliberal views |
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266 | (1) |
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Ricardo and comparative advantage |
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267 | (2) |
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Socialist/Marxist views: globalization is bad--the dependency tradition |
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269 | (1) |
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Structuralist writers--globalization could be good if |
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270 | (3) |
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The 2008 global crisis and the end of the Washington Consensus |
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273 | (3) |
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Globalization and the newly industrialized countries |
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276 | (2) |
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Global ethics for the global business? |
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278 | (2) |
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278 | (1) |
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279 | (1) |
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279 | (1) |
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280 | (1) |
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Attitudes to graft and corruption |
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280 | (1) |
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280 | (1) |
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281 | (1) |
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Case Study: Is trade the engine of growth? |
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281 | (2) |
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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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284 | (2) |
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11 Does business have too much power? |
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286 | (27) |
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286 | (1) |
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287 | (1) |
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What is power? What's it got to do with business? |
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287 | (2) |
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289 | (1) |
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Political power and corporate power |
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290 | (3) |
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Stakeholders and the `play of power' |
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293 | (6) |
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293 | (1) |
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294 | (2) |
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296 | (1) |
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Buyer power in the supply chain |
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297 | (1) |
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Engagement with civil society organizations |
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297 | (2) |
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Business in the political arena |
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299 | (6) |
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Does business enjoy a privileged position in the political process? |
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300 | (2) |
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The representation of business interests |
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302 | (2) |
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304 | (1) |
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The consequences of globalization |
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305 | (1) |
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The ups and downs of business influence over policy-making |
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306 | (1) |
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Business influence--`nothing special' or `unique'? |
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306 | (1) |
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Is business influence in the political process a good thing? |
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307 | (1) |
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307 | (1) |
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308 | (1) |
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Case Study: The political influence of the car industry |
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308 | (2) |
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Review and discussion questions |
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310 | (1) |
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310 | (1) |
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311 | (1) |
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311 | (1) |
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|
|
311 | (2) |
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12 Are opportunities in business equal? |
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313 | (27) |
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|
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313 | (2) |
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|
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315 | (1) |
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Some preliminary definitions |
|
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315 | (3) |
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Why has equality of opportunity moved up the agenda? |
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318 | (5) |
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|
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320 | (1) |
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321 | (1) |
|
Flexibility and parenthood |
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321 | (1) |
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322 | (1) |
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323 | (3) |
|
Why is work-life balance moving up the agenda? |
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326 | (1) |
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326 | (1) |
|
The intensification of work |
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326 | (1) |
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327 | (1) |
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327 | (4) |
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328 | (1) |
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Part-time workers regulations |
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329 | (1) |
|
Time off for family emergencies |
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329 | (1) |
|
Maternity and paternity leave |
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329 | (1) |
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330 | (1) |
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330 | (1) |
|
The right to request flexible working |
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330 | (1) |
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331 | (1) |
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331 | (2) |
|
Summary--Does it matter? Is business responsible? |
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333 | (2) |
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335 | (1) |
|
Case Study: McDonald's restaurants |
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336 | (1) |
|
Review and discussion questions |
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337 | (1) |
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338 | (1) |
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338 | (1) |
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338 | (1) |
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339 | (1) |
|
13 Creating effective trading blocs: What lessons does the European Union provide? |
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340 | (26) |
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340 | (1) |
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341 | (1) |
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Forms of Integration and trade in theory |
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342 | (4) |
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346 | (2) |
|
The European Union: a deepening, widening, or fragmenting union? |
|
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348 | (6) |
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350 | (1) |
|
Institutions and decision-making in the EU |
|
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351 | (1) |
|
Council of Ministers of the European Union |
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351 | (1) |
|
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|
352 | (1) |
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352 | (1) |
|
Decision-making in the EU |
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352 | (2) |
|
Cultural diversity and business implications |
|
|
354 | (1) |
|
The euro and business--One step too far or one step short of a full ladder? |
|
|
354 | (1) |
|
The performance of the euro |
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|
355 | (2) |
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357 | (4) |
|
Stakeholder management in the EU |
|
|
357 | (1) |
|
Competition and industry policy |
|
|
358 | (1) |
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359 | (2) |
|
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361 | (1) |
|
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362 | (1) |
|
Case Study: The development of the ASEAN trading bloc |
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|
362 | (1) |
|
Review and discussion questions |
|
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363 | (1) |
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363 | (1) |
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364 | (1) |
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364 | (1) |
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365 | (1) |
|
14 The public sector: becoming more business-like in a globalizing world? |
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366 | (27) |
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366 | (1) |
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367 | (3) |
|
Management: public sector management in the globalizing era |
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370 | (4) |
|
The changing public sector in a global age |
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372 | (1) |
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|
372 | (1) |
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373 | (1) |
|
Partnerships: the public and the private sectors and the building of partnerships |
|
|
374 | (9) |
|
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|
374 | (3) |
|
Public private partnerships (PPPs) |
|
|
377 | (2) |
|
Private finance initiative (PFI) |
|
|
379 | (1) |
|
The increasing complexity of public service provision: the voluntary sector, NGPBs, and `agencification' |
|
|
379 | (2) |
|
|
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381 | (1) |
|
`Agencification' or distributed governance |
|
|
382 | (1) |
|
Performance and accountability: the importance of data collection and the auditing of public services, its impact on the public-private partnerships, and public service delivery |
|
|
383 | (1) |
|
New debates: the changing public sector in a digital age--digital era governance (DEG) a new hypothesis? |
|
|
384 | (2) |
|
|
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386 | (1) |
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|
387 | (1) |
|
Case Study: The information economy and the digital age: cyberspace and cyber-crime and the reaction of agencies through private and public partnerships in the European Union. The way forward? |
|
|
387 | (3) |
|
Review and discussion questions |
|
|
390 | (1) |
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|
390 | (1) |
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390 | (1) |
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391 | (1) |
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|
391 | (1) |
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|
392 | (1) |
|
15 Small and medium-sized enterprises (SMEs): A larger role in driving economic progress? |
|
|
393 | (40) |
|
|
|
|
|
|
|
|
|
393 | (1) |
|
|
|
394 | (1) |
|
Understanding enterprise and entrepreneurship |
|
|
394 | (6) |
|
What is `an enterprise' or SME? |
|
|
396 | (1) |
|
|
|
397 | (1) |
|
Defining the entrepreneur as social, serial, or an intrapreneur |
|
|
397 | (1) |
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|
|
398 | (1) |
|
What is an `intrapreneur' |
|
|
398 | (1) |
|
What makes an entrepreneur? |
|
|
399 | (1) |
|
Key dimensions in the development of small business |
|
|
400 | (9) |
|
|
|
400 | (2) |
|
|
|
402 | (3) |
|
General building contractors |
|
|
405 | (1) |
|
|
|
405 | (1) |
|
Retailing and the rise of supermarkets |
|
|
405 | (1) |
|
Technology and knowledge intensive services |
|
|
406 | (1) |
|
|
|
406 | (3) |
|
The importance of SMEs within the overall economic activity |
|
|
409 | (5) |
|
UK business population and their associated employment and turnover |
|
|
410 | (2) |
|
Registered and unregistered businesses |
|
|
412 | (1) |
|
UK entrepreneurial performance and activity |
|
|
413 | (1) |
|
Strengths and weaknesses of small businesses |
|
|
414 | (2) |
|
Widening participation in entrepreneurship |
|
|
416 | (7) |
|
|
|
416 | (4) |
|
Why fewer women than men start businesses: A summary |
|
|
420 | (1) |
|
Black and minority ethnic (BME) entrepreneurs |
|
|
421 | (1) |
|
|
|
421 | (1) |
|
A view from the UK: the NCEE |
|
|
421 | (1) |
|
A view from the UK: graduates given a `flying start' |
|
|
422 | (1) |
|
Family firms are important |
|
|
422 | (1) |
|
|
|
423 | (2) |
|
Politically how will the various governments cope? |
|
|
423 | (1) |
|
Will appropriate support, advice and funding be provided? |
|
|
424 | (1) |
|
|
|
425 | (1) |
|
Case Study: The female entrepreneur (interview) |
|
|
426 | (2) |
|
Review and discussion questions |
|
|
428 | (1) |
|
|
|
428 | (1) |
|
|
|
428 | (1) |
|
|
|
429 | (1) |
|
|
|
429 | (4) |
|
16 Conclusion: Looking ahead--managing in a dynamic environment |
|
|
433 | (22) |
|
|
|
|
|
|
|
433 | (1) |
|
|
|
434 | (1) |
|
Looking ahead: the global political environment |
|
|
435 | (2) |
|
Challenges for the future global political environment |
|
|
437 | (6) |
|
Global and national governance |
|
|
437 | (1) |
|
Global power of big business |
|
|
438 | (2) |
|
|
|
440 | (1) |
|
Global inequality and political instability |
|
|
441 | (2) |
|
Looking ahead: the economic environment |
|
|
443 | (2) |
|
Trade, development, and growth in a rebalanced global economy |
|
|
443 | (2) |
|
Looking ahead: the social environment |
|
|
445 | (3) |
|
Social inequality and relative affluence |
|
|
445 | (2) |
|
|
|
447 | (1) |
|
|
|
447 | (1) |
|
Looking ahead: the technological environment |
|
|
448 | (2) |
|
|
|
450 | (1) |
|
Case Study: The football business--the state of play in 2013 |
|
|
450 | (2) |
|
Review and discussion questions |
|
|
452 | (1) |
|
|
|
452 | (1) |
|
|
|
452 | (1) |
|
|
|
453 | (2) |
| Glossary |
|
455 | (14) |
| Index |
|
469 | |
