Introduction to Business

Introduction to Business ignites student engagement and prepares students for their professional journeys, regardless of their career aspirations. Best-selling authors Heidi M. Neck, Christopher P. Neck, and Emma L. Murray inspire students to see themselves in the world of business and to develop the mindset and skillset they need to succeed. A diverse set of impactful examples and cases, from inspiring startups and small businesses to powerful corporations, illustrate how businesses can prosper and create positive impact.

Table of Contents:
BUSINESS IN AN ENTREPRENEURIAL WORLD Chapter 1 The Business of Business What Is Business? The Building Blocks of a Business The Role of Business in the World Today The Future of Work Social Responsibility and Ethical Decision Making Chapter 2 Business Without Borders Global Business Today Trading Across Borders From Multinational Corporations to Startups in a Flat World Working Across Cultures Models to Help Improve Your Cultural Awareness Chapter 3 The Entrepreneurial Mindset The Entrepreneurial Mindset Growth Mindset Versus Fixed Mindset The Entrepreneurial Mindset in Depth How Entrepreneurs Really Think Business in a VUCA World BLOCK 1 THE OFFERING Chapter 4 Business Creation Business Creation Through Entrepreneurship Is the Economic Engine of Society The Truth About Entrepreneurship Types of Entrepreneurship Opportunities—Not Ideas—Create Businesses The IDEATE Method of Opportunity Recognition Chapter 5 Business Models What Is a Business Model? The Most Common Components of a Business Model Types of Business Models The Business Model Canvas Tool Business Model Disruption Chapter 6 Business Strategy for Competitive Advantage The Importance of Business Strategy The Four Generic Strategies and Competitive Advantage External Strategic Analysis Internal Strategic Analysis Hypercompetition BLOCK 2 MARKETS AND CUSTOMERS Chapter 7 Marketing & Sales The Role of Marketing and Sales in Business The Marketing Mix B2B and B2C Sales The Sales Cycle Modern Selling Techniques Chapter 8 Customers and Market Segments How Customers Create Markets Types of Customers Consumer Behavior and Buying Decisions The Buying Process Market Segmentation BLOCK 3 STRUCTURE AND PURPOSE Chapter 9 Organizational Structure and Design Organizational Structure Elements of Organizational Structure Traditional Organizational Structures Contemporary Organizational Structures Primary Factors in Determining Structural Type Chapter 10 Organizational Mission and Culture Organizational Mission, Vision, and Values Organizational Culture Dimensions of Organizational Culture Employee Fit With Organizational Culture Clues to Help Decipher Organizational Culture BLOCK 4 PEOPLE INSIDE THE BUSINESS Chapter 11 Management and Leadership What Is Management? The Four Functions of Management Essential Management Skills Leading Versus Managing Others Diversity, Equity, and Inclusion (DEI) Chapter 12 Human Resource Management Human Resource Management and Talent Management Recruitment and Selection for Diversity and Inclusion Onboarding and Training Employees Employee Performance Retaining Employees Through Compensation Chapter 13 Motivation and Empowerment Motivation and Empowerment in Business Intrinsic Motivation Extrinsic Motivation Combining Both Intrinsic and Extrinsic Motivators Motivation Through Empowerment and Self-Leadership Chapter 14 Communication in Business The Role of Communication Forms of Communication Barriers to Effective Communication Communicating in Organizations Cross-Cultural Communication BLOCK 5 PERFORMANCE Chapter 15 Operations and Quality Management The Operations Behind Running a Business Product Operations Types of Production Methods Quality Control Service Operations Digital Operations Supply Chain Management Chapter 16 Data Management and Analytics Data and Information Information Systems Data Communication Networks Data Security Issues Business Analytics Chapter 17 Accounting and Financial Statements Accounting Is the Language of Business Types of Accounting The Three Major Financial Statements Connecting the Three Statements Analyzing Performance: Ratio Analysis Chapter 18 Financial Management Financial Management Overview Financial Planning Equity and Debt Financing The Cash Conversion Cycle Internal Financial Controls Appendix A: Legal Issues (Online Only Chapter) Appendix B: Putting It All Together: The Business Impact Deck

About the Author :
Heidi Neck, Ph.D., is the Jeffry Timmons Professor of Entrepreneurial Studies at Babson College, where she also serves as the Academic Director of the Babson Academy. In this role, she is at the forefront of shaping the future of entrepreneurship education, influencing universities worldwide to rethink and innovate their approaches to teaching entrepreneurship. The Babson Academy, under Neck′s leadership, serves as a catalyst for this transformation, expanding access to high-quality entrepreneurship education and fostering a global community of educators dedicated to advancing the field. A cornerstone of Neck’s work is her leadership of Babson’s Symposia for Entrepreneurship Educators (SEE) programs equipping faculty from around the world with the skills and knowledge necessary to teach entrepreneurship “entrepreneurially.” She emphatically believes that how we teach entrepreneurship is just as important, if not more important, than the content.  Additionally, Neck founded the Babson Collaborative, which connects colleges and universities worldwide, helping them strengthen their capacity and capability in growing entrepreneurship education ecosystems. This global institutional membership organization provides a platform for knowledge exchange, collaboration, and professional development. Throughout her tenure at Babson College, Neck has been recognized for her outstanding contributions to education at all levels, from undergraduate and graduate students to executive education learners. Her teaching excellence has been celebrated not only at Babson but also by prestigious international organizations, including the Academy of Management and the United States Association for Small Business and Entrepreneurship (USASBE). In 2016, she was named the Entrepreneurship Educator of the Year by The Schulze Foundation, an honor she received again in 2022 from USASBE for her continued innovation and leadership in entrepreneurship education. Neck’s influence extends beyond the classroom and into the broader field of entrepreneurship education. As a Past President of USASBE, she has played a crucial role in shaping policies and initiatives aimed at improving entrepreneurship education. Her research focuses on key areas such as entrepreneurship education, the entrepreneurial mindset, ideation, and entrepreneurship within organizations. These interests have led to the development of influential academic works that have set new standards in entrepreneurship pedagogy. As an accomplished author, Neck has made significant contributions to the field through her publications. Her widely adopted textbook, "Entrepreneurship: The Practice & Mindset," now in its third edition, has received numerous accolades, including the Breakthrough Book of 2018 award from Sage Publishing, the 2018 Most Promising New Textbook Award, and the 2021 Textbook Excellence Award from the Textbook & Academic Authors Association (TAA). The book is widely recognized for its innovative approach, emphasizing an experiential and practice-based perspective on entrepreneurship. Neck’s latest textbook, "Introduction to Business: For a Sustainable and Entrepreneurial Future" takes a fresh approach by incorporating sustainability and an entrepreneurial mindset into general business education, aligning with contemporary trends in the field. Additionally, she is the lead author of "Teaching Entrepreneurship: A Practice-Based Approach," a two-volume series published by Elgar Publishing, which serves as a practical guide for educators seeking to implement experiential teaching methods in their classrooms. Overall, Neck has authored six books and more than 45 refereed articles, book chapters, and research monographs, solidifying her reputation as a thought leader in entrepreneurship education. Beyond academia, Neck is a sought-after speaker and educator, regularly delivering keynotes and workshops on the importance of fostering an entrepreneurial mindset and leveraging entrepreneurship as a tool for positive societal impact. Her ability to translate complex concepts into practical, actionable insights has made her a respected voice in the field. She has also successfully bridged academia and practice by co-founding VentureBlocks, an entrepreneurship education technology company, and achieving a successful exit with FlowDog, a canine aquatic fitness and rehabilitation center near Boston. Additionally, she has served on the board of A. Wilbert’s & Sons, a seventh-generation, family-owned land-management company in Louisiana, further demonstrating her ability to apply entrepreneurial principles in diverse settings. Neck’s academic journey began at Louisiana State University, where she earned her B.S. in Marketing. She went on to complete her MBA and Ph.D. in Strategic Management and Entrepreneurship at the University of Colorado at Boulder. Her multidisciplinary background, coupled with her passion for education and entrepreneurship, has shaped her approach to teaching and research, making her one of the most influential figures in entrepreneurship education today. When she’s not inspiring the next generation of entrepreneurs or shaping the future of entrepreneurship education, Neck enjoys engaging in one of her newest passions: pickleball. Whether on the court or in the classroom, she continues to embody the entrepreneurial spirit, pushing boundaries and challenging conventional wisdom to drive innovation in education and beyond. Dr. Christopher P. Neck, PhD, is currently a Professor of management at Arizona State University, where he held the title “University Master Teacher.” From 1994 to 2009, he was part of the Pamplin College of Business faculty at Virginia Tech. He received his PhD in management from Arizona State University and his MBA from Louisiana State University. Neck is author and/ or coauthor of 30 books including Self-Leadership: The Definitive Guide to Personal Excellence (2017, Sage; 2nd ed., 2019; 3rd ed., 2024); Get a Kick Out of Life: Expect the Best of Your Body, Mind, and Soul at Any Age (2017, Clovercroft Publishing); Fit to Lead: The Proven 8-Week Solution for Shaping Up Your Body, Your Mind, and Your Career (2004, St. Martin’s Press; 2012, Carpenter’s Sons Publishing); Mastering Self-Leadership: Empowering Yourself for Personal Excellence (6th ed., Pearson, 2013); The Wisdom of Solomon at Work (2001, Berrett-Koehler); For Team Members Only: Making Your Workplace Team Productive and Hassle-Free (1997, Amacom Books); and Medicine for the Mind: Healing Words to Help You Soar, (4th ed., Wiley, 2012). Neck is also the coauthor of the principles of management textbook Management: A Balanced Approach to the 21st Century (2013, Wiley; 2nd ed., 2017, Sage; 2021, 3rd ed., Sage); an introductory to entrepreneurship textbook, Entrepreneurship, (2017, Sage; 2nd ed., 2020); and an introductory to organizational behavior textbook, Organizational Behavior (2017, Sage; 2nd ed., 2019). Dr. Neck’s research specialties include employee/executive fitness, self-leadership, leadership, group decision-making processes, and self-managing teams. He has over 200 publications in the form of books, chapters, and articles in various journals. Some of the outlets in which Neck’s work has appeared include Journal of Applied Psychology, Organizational Behavior and Human Decision Processes, The Journal of Organizational Behavior, The Academy of Management Executive, Journal of Applied Behavioral Science, The Journal of Managerial Psychology, Executive Excellence, Human Relations, Human Resource Development Quarterly, Journal of Leadership Studies, Educational Leadership, and The Commercial Law Journal. Neck is the editor of the journal, Administrative Sciences and the former deputy editor of the Journal of Leadership and Management. Due to Neck’s expertise in management, he has been cited in numerous national publications including The Washington Post, The Wall Street Journal, The Los Angeles Times, The Houston Chronicle, and the Chicago Tribune. Dr. Neck was voted as a semifinalist (out of 140 nominations) for the prestigious international 2020 Baylor University Cherry Award for Great Teaching. He finished in the top six of all nominations. Neck was also the recipient of the 2007 Business Week “Favorite Professor Award.” He is featured on Business Week as one of the approximately 20 professors from across the world receiving this award. Dr. Neck has taught over 80,000 students during his career in higher education. He currently teaches a mega section of management principles to approximately 1,000 students at Arizona State University. Neck was the recipient of the 2024 and 2020 John W. Teets Outstanding Undergraduate Teaching Award (voted by W. P. Carey students). Neck also received the 2024 W. P. Carey Huizingh Outstanding Undergraduate Teacher Award as well as the Order of Omega Outstanding Teaching Award for 2012. This award is granted to one professor at Arizona State by the Alpha Lamda Chapter of this leadership fraternity. His class sizes at Virginia Tech filled rooms of up to 2,500 students. He received numerous teaching awards during his tenure at Virginia Tech, including the 2002 Wine Award for Teaching Excellence. Also, Neck was the 10-time winner (1996, 1998, 2000, 2002, 2004, 2005, 2006, 2007, 2008, and 2009) of the “Students’ Choice Teacher of the Year Award” (voted by the students for the best teacher of the year within the entire university). Also, some of the organizations that have participated in Neck’s management development training include GE/Toshiba, Busch Gardens, Clark Construction, the United States Army, Crestar, American Family Insurance, Sales and Marketing Executives International, American Airlines, American Electric Power, W. L. Gore & Associates, Dillard’s Department Stores, and Prudential Life Insurance. Neck is also an avid runner. He has run the marathon distance over 100 times including the Boston Marathon, New York City Marathon, and the San Diego Marathon. In fact, his personal record for a single long-distance run is a 48-mile run. Emma L. Murray, BA, Hdip, completed a bachelor of arts degree in English and Spanish at University College Dublin (UCD) in County Dublin, Ireland, followed by a higher diploma (Hdip) in business studies and information technology at the Michael Smurfit Graduate School of Business in County Dublin, Ireland. Following her studies, Murray spent nearly a decade in investment banking before becoming a full-time writer and author. Murray has worked on numerous texts, including business and economics, self-help, and psychology. She is the coauthor of the principles of management textbook Management: A Balanced Approach to the 21st Century (2013, Wiley; 2nd ed., 2017, Sage; 3rd ed., 2021, 4th ed., 2026); the introductory to entrepreneurship textbook, Entrepreneurship (2017, Sage; 2nd ed., 2020), 4th ed., 2025; and an introductory to organizational behavior textbook, Organizational Behavior (2017, Sage; 2nd ed., 2019; 3rd ed. 2024). She lives in London, UK, with her husband and two children.

Review :
"A cutting-edge approach to business instruction through the lens of entrepreneurship. I like the information discussed on nature of work and new trends such as ′gig′ economies." "Simplified layout, current, contemporary examples. It presents information in a different format and should generate more classroom conversation." "This text is built for in-class discussions and activities. It helps students develop an important entrepreneurial mindset that is  important for their careers. It has a lot more actionable and assignable exercises for in class and outside of class. It′s a flip-the classroom/hyflex model textbook."  "The book provides a good summary of important topics, business cases for students to analyze and also engage in, good discussion questions, and mindset activities that will help learners apply the knowledge gained." "The author′s approach to writing allows the average student to approach the topic in a way others do not. The integration of a global approach is sometimes not effective in other texts. It is here. This is definitely a text I would recommend to my faculty as Department Chair."    "The content is up-to-date and relevant. This book has more chapters that are realistic in nature to the current business environment." "A practical straight-forward introduction to business concepts. Gives students case examples to explain various concepts. I really appreciate the business ethics cases at the end of each chapter instead of one single chapter on ethics. I think it helps reinforce to students that ethics is a part of every aspect of business and helps them think more comprehensively about it."  "A textbook with features that help your students learn and understand business better and help them to retain the information longer. I love the simplicity and forwardness of it." "I think the authors have done a good job of using a variety of businesses of different sizes and different types of industries to enhance the concepts." "Timely, relevant, and relatable."  "This text covers all of the essential areas of business--with a refreshing focus on corporate social responsibility."