This introduction to business comprises 13 chapters, of which four are new to this fourth edition. The text provides a solid grounding in most of the major business disciplines and would sit well within first and second year undergraduate business and management courses. In line with other introductory texts, the book provides a structured pedagogy including clearly defined learning objectives, well explained core concepts, wide‐ranging case studies, discussion questions and useful suggestions for further reading.
Chapter 1 emphasises that business must be considered within context, and presents a model for this thinking. The model also serves to structure the remainder of the text, although the new chapters sit less easily within this. The second chapter presents an overview of globalisation. After a somewhat superficial review of the varying perspectives, the remainder of the chapter highlights some of the key business trends emerging from globalisation including the growth in Multi‐National Corporations, joint ventures and strategic alliances. Chapter 3 attempts to grapple with some of the broad environmental factors impacting business today. Usefully, the chapter provides an international context to some of the major environmental issues including various economic models, the role of the state, trends in technology and labour concerns.
The fifth chapter moves from environmental to organisational aspects of business. Five aspects of organisation are considered; goals, structures, size, ownership and organisational culture. Chapters 6‐8 shift focus again, this time to structural issues. An introduction to management and leadership in Chapter 6 provides a sound foundation for an in‐depth discussion of the strategy process in Chapter 7. In the wake of the Enron, Tyco and WorldCom corporate scandals, the text has introduced a timely, if somewhat limited, introduction to Corporate Social Responsibility in Chapter 8.
The remaining five chapters of the text are dedicated to activity level analysis, specifically focussing on innovation, operations, marketing, human resource management, and accounting and finance. Each chapter follows a similar format, first introducing the core concepts, followed by an examination of the environmental, organisational and management factors relating to that activity. Some attempt is made to demonstrate links between these activity areas, but perhaps a more holistic approach would help reduce the impression of silo mentalities.
Overall, the text provides an excellent introduction to business and management. It is well referenced and structured, and the wealth of practical examples help ground the students' learning as well as helping to stimulate and maintain interest. Instructors should also benefit from the excellent online support package that includes PowerPoint slides and extra case material.
