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Brief Contents
1 Understanding the Canadian 9 Motivating, Satisfying, and
Business System 1 Leading Employees 243
iii
Contents
Prefacexii The Political–Legal Environment 37
Acknowledgmentsxix The Sociocultural Environment 38
Author Biographies xix Customer Preferences and Tastes 38
Ethical Compliance and Responsible Business
1 Understanding the Canadian Behaviour38
Business System 1 The Business Environment 38
■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE What’s in a
Learning Objectives 1 Name? Logos and Branding in the Age of
■■ Shopify: Canadian Tech Royalty Powering Small Social Justice 39
Businesses Globally 1
The Industry Environment 40
The Idea of Business and Profit 3 ■■ ENTREPRENEURSHIP AND NEW VENTURES Goldline Curling:
Economic Systems around the World 4 New Industry Threats and Challenges 41
Factors of Production 4 Emerging Challenges and Opportunities in the
Types of Economic Systems 5 Business Environment 42
■■ DISRUPTIONS IN BUSINESS Pandemic: The Ultimate Outsourcing42
Disruption6 The Powerful Role of Social Media 42
■■ THERE’S AN APP FOR THAT! 9 Business Process Management 43
Interactions between Business and Government 9 Redrawing Corporate Boundaries 43
How Government Influences Business 9 Mergers and Acquisitions 44
■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE Saving the Divestitures and Spinoffs 44
World One Camp Stove at a Time 11
Employee-Owned Corporations 44
How Business Influences Government 13 Strategic Alliances 45
The Canadian Market Economy 14 Subsidiary and Parent Corporations 45
Demand and Supply in a Market Summary of Learning Objectives 45 • Questions and
Economy14 Exercises 46 • Team Exercises 47 • Business Case 2
Private Enterprise and Competition 16 Dollarama: Overcoming New Obstacles in a Competitive
Degrees of Competition 17 Landscape 48
Summary of Learning Objectives 19 • Questions and
Exercises 20 • Team Exercises 20 • Business Case 1 Spin
Master: Canadian Toy & Entertainment Giant Reaching New
3 Conducting Business Ethically and
Heights 22 Responsibly50
Learning Objectives 50
2 The Environment of Business 24 ■■ EpiPen: Balancing Morals and Profits 50
Learning Objectives 24 Ethics in the Workplace 52
■■ McCain: Feeding Canadians, Feeding the World Individual Ethics 52
for over Six Decades 24 Business and Managerial Ethics 53
Organizational Boundaries and Environments 26 Assessing Ethical Behaviour 54
Organizational Boundaries 26 Encouraging Ethical Behaviour in Organizations 56
Multiple Organizational Environments 26 Corporate Social Responsibility 57
The Economic Environment 27 ■■ ENTREPRENEURSHIP AND NEW VENTURES Steel River
Economic Growth 28 Group: Building More Than Just Projects 58
■■ THERE’S AN APP FOR THAT! 31 The Stakeholder Model of Responsibility 60
Economic Stability 31 ■■ THERE’S AN APP FOR THAT! 61
Managing the Canadian Economy 33 ■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE From
iv
Contents v
Summary of Learning Objectives 72 • Questions and ■■ E-BUSINESS AND SOCIAL MEDIA SOLUTIONS The Goose Is
Exercises 73 • Team Exercises 74 • Business Case 3 Flying East: CanadaGoose.cn 117
Marijuana: Big Business, Government, and Ethics 75 Forms of Competitive Advantage 118
4
The Balance of Trade 120
Entrepreneurship, Small Business, The Balance of Payments 121
and New Venture Creation 77 Exchange Rates 122
Learning Objectives 77 ■■ THERE’S AN APP FOR THAT! 122
■■ Pattison: West Coast Business Legend International Business Management 123
Still Says No to an IPO! 77 Going International 123
Interrelationship of Small Business, New Venture Levels of Involvement in International Business 124
Creation, and Entrepreneurship 79 International Organizational Structures 125
Small Business 79 Barriers to International Trade 127
The New Venture/Firm 80 Social and Cultural Differences 127
Entrepreneurship81 ■■ ENTREPRENEURSHIP AND NEW VENTURES Women
■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE Manitobah Entrepreneurs Grow Global 128
Mukluks: Authentic to the Core 81 Economic Differences 128
Intrapreneurs83 Legal and Political Differences 129
The Role of Small and New Businesses in the Business Practice Laws 131
Canadian Economy 83 Overcoming Barriers to Trade 132
Small Businesses 83 General Agreement on Tariffs and Trade 132
New Ventures 84 World Trade Organization 132
The Entrepreneurial Process 85 The European Union 133
Identifying Opportunities 85 ■■ DISRUPTIONS IN BUSINESS Brexit: A Symbol of
■■ DISRUPTIONS IN BUSINESS The Rise of the Trade Disruption to Come? 134
Gig Economy 88 The North American Free Trade Agreement and the
Accessing Resources 90 New U.S.–Mexico–Canada Agreement (USMCA) 135
■■ THERE’S AN APP FOR THAT! 92 Major New Agreements: CPTPP and CETA 136
■■ ENTREPRENEURSHIP AND NEW VENTURES Crowdfunding: Other Free Trade Agreements around the World 137
Finance from the Masses 94 Summary of Learning Objectives 138 • Questions and
Building the Right Team 94 Exercises 139 • Team Exercises 139 • Business Case 5
Assessing the Fit between Elements in the Couche-Tard: Canadian (Global Player) Seeks Further
Entrepreneurial Process 95 Expansion 141• Crafting a Business Plan Part 1 143 • Your
Starting Up a Small Business 96 Assignment 143
6
Buying a Franchise 97
Success and Failure in Small Business 98
Managing the Business Enterprise 145
Reasons for Success 98 Learning Objectives 145
Reasons for Failure 99 ■■ Canadian Tire: Fighting a Crisis, Planning
Management Roles and Skills 155 ■■ E-BUSINESS AND SOCIAL MEDIA SOLUTIONS “Simon Says,”
Management Roles 155 Alexa, What Have You Done? 198
Management Skills 156 The Informal Organization 199
■■ E-BUSINESS AND SOCIAL MEDIA SOLUTIONS Managing Informal Groups 199
the Contingent Workforce 159 The Organizational Grapevine 200
Strategic Management 162 ■■ THERE’S AN APP FOR THAT! 200
Setting Business Goals 162 Summary of Learning Objectives 201 • Questions and Exercises 202 •
Formulating Strategy 163 Team Exercises 202 • Business Case 7 The Hidden Power of the
Informal Organization 204
■■ THERE’S AN APP FOR THAT! 165
Levels of Strategy 166
Contingency Planning and Crisis Management 168 8 Managing Human Resources and
Contingency Planning 168 Labour Relations 205
Crisis Management 168 Learning Objectives 205
■■ DISRUPTIONS IN BUSINESS Data Breach: ■■ Great Places to Work in Canada 205
Managing against Disruptive Forces 169
The Foundations of Human Resource Management 207
Management and the Corporate Culture 170
The Strategic Importance of HRM 207
Communicating the Culture and Managing Change 171
Human Resource Planning 208
Summary of Learning Objectives 172 • Questions and
Recruiting Human Resources 209
Exercises 173 • Team Exercises 174 • Business Case 6
■■ E-BUSINESS AND SOCIAL MEDIA SOLUTIONS A Match
Harley-Davidson: Managing a Legendary Brand for over a
Century 175 Made by Artificial Intelligence 210
Selecting Human Resources 211
Enterprise178
New Employee Orientation 214
Learning Objectives 178 Training214
■■ Spotify: Breaking the Rules on Structure 178 Evaluating Employee Performance 215
What Is Organizational Structure? 180 Compensation and Benefits 217
Determinants of Organizational Structure 180 Determining Basic Compensation 217
The Chain of Command 180 ■■ DISRUPTIONS IN BUSINESS Disrupting the Standard
The Building Blocks of Organizational Structure 181 Minimum Wage Debate 219
Job Specialization 181 Incentive Programs 220
Departmentalization182 Benefits221
■■ ENTREPRENEURSHIP AND NEW VENTURES Reinventing The Legal Context of HRM 222
Structure: Is Holacracy the Answer? 184 Equal Employment Opportunity 222
Establishing the Decision-Making Hierarchy 185 Comparable Worth 223
Assigning Tasks 186 Sexual Harassment 223
Performing Tasks 186 Employee Safety and Health 224
Distributing Authority: Centralization and Retirement225
Decentralization187 Challenges in the Evolving Workplace 226
■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE Beyond Managing Workforce Diversity 226
the Traditional Glass Ceiling 189
■■ SOCIAL RESPONSIBILITY & SOCIAL JUSTICE The Changing
Three Forms of Authority 190 Faces of Employee Rights 227
Basic Organizational Structures 191 Managing Knowledge Workers 228
The Functional Structure 192 Managing Contingent Workers 228
The Divisional Structure 192 Working with Organized Labour 229
Project Organization 193 The Development of Canadian Labour Unions 229
Matrix Structure 194 Unionism Today 230
International Structures 194 The Future of Unions 231
Organizational Design for the Twenty-First Century 196 The Legal Environment for Unions in Canada 231
Boundaryless Organization 196 Federal Legislation—The Canada Labour
Team Organization 196 Code232
Virtual Organization 197 Provincial Labour Legislation 232
Learning Organization 197 Union Organizing Strategy 233
Contents vii
Union Security 233 Crafting a Business Plan 277 • Your Assignment 277 •
Types of Unions 234 Your Assignment 278
■■ E-BUSINESS AND SOCIAL MEDIA SOLUTIONS Do You Listen Playing a Different Game 453
to TikTok Advice? Is Siri Your Mortgage Assistant? 416 Other Investments 454
■■ THERE’S AN APP FOR THAT! 417 Mutual Funds 454
Bank Loans 417 Exchange-Traded Funds 455
Banks as Creators of Money 417 Hedge Funds 455
x Contents
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Preface
About Business Essentials them. They’ll still need to know their job duties and
responsibilities, but they’ll also need to understand
10th Canadian Edition how to manage other people—how to motivate and
Our Approach reward them, how to lead them, how to deal with
conflict among them, and the legal parameters that
Welcome to the 10th Canadian edition of Business may affect how they treat them. Chapters 3, 6, 8, and 9
Essentials. This is a survey course designed to intro- provide a lot of information about how they can best
duce students to the exciting and challenging world of wear this hat, although information about the role of
business, both in Canada and elsewhere. The course is employer is found throughout the book.
designed to fit the needs of a wide variety of students. A
student may be taking this course as the first step toward • The Consumer Hat Even if they don’t work for a
earning a degree in business, or they may be thinking business, they will still wear the hat of a consumer.
about business and want to know more about it, or they Whenever they fill their car with Petro-Canada gaso-
may know they want to study business but are unsure of line, buy on Amazon, or download an app for their
the area they want to pursue. They may plan to major in phone, they’re consuming products or services cre-
another field but want some basic business background ated by businesses. To wear this hat effectively, they
and are taking this course as an elective. Or they may be need to understand how to assess the value of what
here because this course is required or is a prerequisite they’re buying, their rights as a consumer, and so
for another course. Whatever their situation, this course on. We discuss how they can best wear this hat in
will be helpful to them. Chapters 1, 3, 12, and 13.
One of our biggest challenges as authors is to write • The Investor Hat The final business hat many people
content that meets the needs of such a diverse student wear is that of an investor. They may buy their own
population. We also want to do our best to ensure that business or work for a company that allows them
students find the course challenging, interesting, and to buy its stock. They may also invest in other com-
useful. To achieve this goal, we think it is helpful to use panies through the purchase of stocks or shares of a
the old metaphor about people wearing different “hats” mutual fund. In order for them to invest wisely, they
as they go through life. Each individual has different must understand some basics, such as financial mar-
roles to play in different settings. For example, their roles kets, business earnings, and the costs of investment.
may include student, child, spouse, employee, friend, or Chapters 4, 11, 14, and 15 will help them learn how
parent. Each of these roles needs a different hat. From the to best wear this hat.
perspective of studying and interfacing with the world
Most people wear more than one of these hats at
of business, there are at least four distinct “hats” that they
the same time. Regardless of how many hats they wear
might wear:
or when they may be putting them on, they will inter-
• The Employee Hat One hat is “worn” as an employee face with many different businesses in different ways.
working for a business. Most people wear this hat Knowing how to best wear all of these hats is what this
throughout their working career. To wear the hat suc- book is all about.
cessfully, they will need to understand their role in
the organization—their job duties and responsibili-
ties, how to get along with others, how to work with Content Features
their boss, what their organization is all about, and • Chapter Opening Cases: Each chapter begins with
so on. They’ll begin to see how best to wear this hat a description of a problem or opportunity that is
as they learn more about organizing business enter- facing a Canadian company, or a general issue that
prises in Chapter 7, how organizations manage their impacts many different businesses in Canada. These
human resources in Chapter 8, motivation and lead- chapter opening cases help students bridge the gap
ership in Chapter 9, and in several other places in between theory and practice.
this book. • There’s an App for That! Boxes: Many chapters
• The Employer or Boss Hat Another business hat that includes a description of several useful apps that are
many people wear is an employer or boss hat. Whether related to the chapter material. These apps allow stu-
they start their own business or get promoted within dents to understand business concepts in new and
someone else’s business, people will be working for dynamic ways.
xii
Preface xiii
• Feature Boxes with Critical Thinking Questions gather data about an interesting business issue and
• Social Responsibility & Social Justice is NEW to then develop a written report or a class presentation
this edition and provides real-life examples of how based on the information that was gathered. Each
businesses are considering their impact on society. exercise begins with a list of goals, a description of
the situation, a step-by-step methodology for pro-
• E-Business and Social Media Solutions describes how
ceeding, and follow-up questions to help students
rapidly changing technology has provided business
focus their responses to the challenge.
firms with many new ways to connect with customers.
• Exercising Your Ethics: This exercise describes
• Disruptions in Business explains how existing
a situation that contains an ethical dilemma.
businesses are being dramatically changed by new
Students are then asked several questions that
ways of doing business, and how entirely new
focus on how to approach and resolve the
industries are developing with astonishing speed
dilemma. In the exercise, students take on the
and challenging traditional ways of doing business.
role of employee, owner, customer, or investor
• Entrepreneurship and New Ventures provides and examine a chapter-related business ethics
real-life examples of entrepreneurs who saw an dilemma through the perspective of that role.
opportunity to provide a new product or service Students learn how to see an ethical dilemma
in the marketplace, and the activities they carried from various points of view, and to decide what
out in order to be successful. outcome is ultimately best in each situation.
• Examples of Business Practice: In addition to the • Business Case: Each chapter concludes with a
in-depth cases, each chapter contains numerous case study that focuses on a real Canadian or
examples of how actual Canadian and international international company, or on an issue that impacts
businesses operate so that students can gain a better businesses in general. These cases are designed
understanding of the dynamics of business practice to help students apply the chapter material to a
in both Canada and elsewhere. company or an issue that is currently in the news.
• Key Terms: In each chapter, the key terms and defi- At the end of each case, several Questions for
nitions that students should know are highlighted Discussion guide students in their analysis.
throughout the chapters. • Crafting a Business Plan: Found at the end of
• Figures and Tables: The latest available data appear Chapters 5, 9, 11, 13, and 15, the business plan
in tables and figures throughout the text. project is tailor-made to match and reinforce
• End-of-Chapter Material text content. It is software-independent and
provides students with an easy-to-understand
• Summary of Learning Objectives: The material
template that they work from as they create
in each chapter is concisely summarized, using
their business plans. The business plan proj-
the learning objectives as the organizing scheme.
ect is divided into logical sections, and each
This helps students understand the main points
part (marketing, production, finance, etc.) is
that were presented in the chapter.
located at the end of the section where that
• Questions for Analysis require students to think material is covered. With five parts in all, stu-
beyond simple factual recall and apply the con- dents can gradually apply the concepts they’ve
cepts they have read about. learned in the chapters to their business plans
• Application Exercises ask students to apply what throughout the course.
they have learned and are designed to help stu-
dents increase their understanding of how busi- Digital Content Delivery
ness firms actually operate, and engage students
As the world shifts to a greater reliance on digital media,
in practical activities such as interviewing manag-
it is appropriate that this resource evolves as well. This
ers about concepts and issues that are discussed
10th Canadian edition is a fully digital version of Business
in the chapter.
Essentials. Instructors and students will find that,
• Building a Business: Continuing Exercise: This although the medium has changed, the content is fully
team exercise, which is found at the end of each consistent with prior editions.
chapter in the text, gives students the opportunity
to develop an entirely new business venture that
fits with their interests. Questions at the end of What’s New
each exercise require students to carefully consider New content has been included in all chapters. An illus-
how the material in the chapter will influence the trative (but not exhaustive) list is as follows:
decisions they must make about their new venture.
Chapter 1
• Building Your Business Skills: This feature asks
students to examine some specific aspect of busi- • Updated the opening case study with a more well-
ness. While working in a group context, students known business example (Shopify)
xiv Preface
• Refreshed information on service and industrial • Added new information on COVID-19’s impact on
productivity pricing for airlines
• Added new information on Boeing’s 2019 plane • Refreshed images throughout chapter
crashes and quality assurance • Refreshed the demographic variables table
• Updated the examples in the app resources box • Updated the example of demographic targeted
• Added a new Social Responsibility & Social Justice marketing
box on social responsibility in the supply chain • Added new information on online sample marketing
• Refreshed information on supply chain disruption • Added a new example about McDonald’s test mar-
with COVID-19 updates keting of the P.L.T. in Canada
• Added new information on outsourcing and the • Added new information on COVID-19’s impact on
global supply chain during COVID-19 Copper Branch in the Entrepreneurship and New
• Added a new closing assignment on the impact of Ventures box
new competition • Updated information on the BrandZ Top 100 Global
• Added a new closing case study on the future of Brands rankings for 2020
automation • Added a new example of Tim Hortons brand
extension
Chapter 11 • Added new information on consumer preferences
• Added a new opening case study on businesses fac- for environmentally conscious packaging
ing bankruptcy during the COVID-19 pandemic • Added a new closing ethics exercise
• Updated statistics on the number of CPAs in • Added a new closing case study on Maple Leaf
Canada Foods’s plant-based expansion
• Updated rankings and revenue amounts for the top
accounting firms in Canada Chapter 13
• Updated the examples in the app resources box • Added a new opening case study on Louis Vuitton
• Added a new Disruptions in Business • Added new information on the rising price of lum-
• Updated the balance sheet figures using Apple Inc.’s ber during the COVID-19 crisis
income statements • Added a new Disruptions in Business box about
• Refreshed information about the changing role of the Uber and other ride-share apps
modern accountant • Updated examples in the app resources box
• Refreshed the closing application exercises, ethics • Added information on Tim Hortons’s digital rollout
exercises, and case study during the COVID-19 pandemic
• Added new information on Bausch Health’s rev- • Updated information to the table Total Media Usage,
enues during the COVID-19 pandemic in the closing Strengths, and Weaknesses
case study
• Updated information on and examples of changes to
traditional media
Chapter 12
• Added a new Entrepreneurship and New Ventures
• Added a new opening case study on IKEA’s social box on influencer marketing
media use • Updated examples of sales promotions
• Added new information on Microsoft’s and Sony’s • Updated examples of companies using the direct
use of product utility for marketing purposes marketing approach
• Added new information on GM’s marketing during • Added new information on companies publicizing
the COVID-19 pandemic positive behaviour for positive coverage during the
• Added new information on Fairmount’s use of digi- COVID-19 pandemic
tal data • Updated the example of channel conflict between
• Added new information on Chickpea Pasta’s healthy Epic Games and Apple
meals marketing • Refreshed images throughout chapter
• Added a discussion of COVID-19’s impact on the • Updated statistics on vending machine sales and
economic environment of consumers retail sales
• Updated the examples in the app resources box • Added new information and statistics on online
• Refreshed the examples of product marketing retailing sales
Exploring the Variety of Random
Documents with Different Content
The Project Gutenberg eBook of The 21st
Missouri Regiment Infantry Veteran
Volunteers: Historical Memoranda
This ebook is for the use of anyone anywhere in the United
States and most other parts of the world at no cost and with
almost no restrictions whatsoever. You may copy it, give it away
or re-use it under the terms of the Project Gutenberg License
included with this ebook or online at www.gutenberg.org. If you
are not located in the United States, you will have to check the
laws of the country where you are located before using this
eBook.
Compiler: T. W. Holman
N. D. Starr
Language: English
Historical Memoranda.
COMPILED BY
N. D. Starr and T. W. Holman.
July, 1899.
ROBERTS & ROBERTS, PRINTERS,
FORT MADISON, IOWA.
EXPLANATORY PREFACE.
AT the close of the war and after their discharge the members of the
21st Missouri Regiment scattered over Missouri and other States of
the Union. No effort was made to keep the organization alive until
1888, when T. W. Holman, responding to the whisperings of memory
for a sight and hand clasp of the old comrades of ’61-’66, on his own
responsibility published a call, in August, 1888, for a meeting of the
survivors at Arbela, Mo. The result was a large gathering of the
veterans and the organization of the 21st Missouri Infantry Veteran
Volunteers Association. From that date to the present time annual
meetings have been held. At the meeting in 1896, Messrs. T. W.
Holman and N. D. Starr were made Regimental Historians, to compile
and perpetuate the history of the regiment. At the next meeting, in
1897, these comrades made a partial report, and at the Edina, Mo.,
meeting in 1898, submitted the result of their labors in manuscript
form. A motion was then made and carried that T. W. Holman
continue the labor and revise and prepare the manuscript for
publication and have it printed for the use of the Association. In
accordance with the foregoing instructions the succeeding pages are
respectfully submitted.
T. W. Holman.
DAVID MOORE,
Colonel 21st Regiment Missouri Inf. Vet. Vols.
THE CALL TO ARMS.
Organization of the 1st and 2d North Missouri Regiments, June
and July, 1861.—Campaigning in North Missouri During the
Summer of 1861.—Order Consolidating the 1st and 2d North
Missouri Regiments, Thereafter Known as the 21st
Regiment, Missouri Infantry Vols.
D. Moore, Colonel.
H. M. Woodyard, Lieutenant Colonel.
B. B. King, Major.
Charles C. Tobin, Adjutant
H. M. Woodyard,
Lieut. Col. Com’d’g 21st Mo. Regt.
To Capt. Henry Binmore,
Act. A. G., 6th Division,
Army of West Tennessee.