Preface

We can’t thank you enough for your kind words and encouragement over the years. Modern Management has helped hundreds of thousands of students around the world to grow into prepared, practicing managers. Close to its fourth decade of life, our book allows us to combine the most seminal perspectives on management with the most current research in the field. Modern Management has established a reputation for presenting comprehensive, easily read, and pragmatic content, and the 14th edition continues this tradition.

Managers of today continue to face new, exciting opportunities and challenges. These opportunities include highly promoted tasks, such as Google introducing contact lenses that contain cameras, Tesla Motors manufacturing premium electric vehicles, and Brookstone’s Laser Projection Virtual Keyboard, which lets anybody turn any surface into a computer keyboard. At the same time, other companies face intense challenges, such as Wendy’s trying to make a comeback against McDonald’s, Jeep trying to make it back into the mainstream automobile market, and Samsung, a South Korean company, trying to win relevance in the Chinese market. Because these opportunities and challenges are so formidable, perhaps managers today should be paid salaries higher than those of managers at any other time in history.

Text: Theory Overview

As with all previous editions, decisions about which concepts to include in this revision were difficult to make. Such decisions were heavily influenced not only by colleague and student feedback but also by information from accrediting agencies such as the Association to Advance Collegiate Schools of Business (AACSB), professional manager associations such as the American Management Association (AMA), and academic organizations such as the Academy of Management.

This edition follows the tradition of dividing management concepts into the following six main sections: Introduction to Modern Management, Modern Management Challenges, Planning, Organizing, Influencing, and Controlling. The following sections discuss the changes we made in this edition to continue the tradition of stressing the modern in Modern Management.

This edition also continues previous editions’ focus on helping students not only learn management concepts but also develop the skills related to those concepts. Students can develop these skills by completing specially designed, innovative learning activities, which appear both in the text and through MyManagementLab. Further, this edition continues the authors’ commitment to help students develop the management skills that they will need in the world of organizations.

This 14th edition of the Modern Management Learning Package—this text and its ancillaries—continues a recognized and distinctive tradition in management education. As in all previous editions, this edition of the Modern Management Learning Package focuses on two objectives: maximizing student learning of critical management concepts and developing related management skills. All revisions reflect instructor and student feedback regarding ways to further enhance this student development. Starting with the text, the following sections explain each major component of this revision.

MyManagementLab Suggested Activities

For the 14th edition, we, the authors, are excited that Pearson’s MyManagementLab has been integrated fully into the text. These new MyManagementLab features are outlined below. Making assessment activities available online for students to complete before coming to class will allow you, the professor, more discussion time during class to review areas that students are having difficulty comprehending.

Assessing Your Management Skill

Previously found at the end of each chapter, this activity is now located in MyManagementLab. For every Challenge Case Summary, students can access questions that ask them how they would deal with the situation discussed in the Challenge Case located in the beginning and at the end of each chapter. This feature provides feedback based on the way students answer the questions.

Learn It

Students can be assigned the Chapter Warm-Up before coming to class. Assigning these questions ahead of time will ensure that students come to class prepared.

Watch It

This activity includes a video clip that can be assigned to students for outside-the-classroom viewing or watched in the classroom. The video clip corresponds to chapter material and is accompanied by multiple-choice questions that reinforce students’ comprehension of chapter content.

Try It

This activity includes a simulation that can be assigned to students as an outside-the-classroom activity or used in the classroom. After students watch the simulation, they are asked to make choices based on the scenario presented. At the end of the simulation, students receive immediate feedback based on the answers they gave. These simulations reinforce the concepts of the chapter and students’ comprehension of those concepts.

Assisted Graded Questions

These are short essay questions that students can complete as an assignment and submit to you, the professor, for grading.

New to This Edition

Professors and students need and deserve textbooks that are modern. In this context, modern involves adding the latest concepts and empirical research as well as including the most recent examples of management in the business world. Modern also refers to how the text material is presented—the pedagogy used to help students learn the concepts. This edition of the Modern Management Learning Package is undoubtedly modern in terms of both management concepts and pedagogy. Overall, this new edition includes the following features:

  • The core material in this edition, like all previous editions, focuses on planning, organizing, influencing, and controlling; but the total number of chapters has been reduced to 18. For courses that need to include more coverage and topics, additional, optional learning appendices have been included. The appendices focus on management history, entrepreneurship, and creativity and innovation.

  • Nine of the chapter-opening Challenge Cases are new, and related Challenge Case Summaries have been revised accordingly.

  • Nine of the end-of-chapter cases are new to this edition.

  • A new Steps for Success highlight has been added to each chapter.

  • A new Tips for Managing around the Globe highlight has been added to each chapter.

  • A new Practical Challenge highlight has been added to each chapter.

  • Each chapter has been generally revised to reflect up-to-date, significant, and relevant research.

  • Photos have been updated to make the pedagogy more relevant and inviting.

Chapter-by-Chapter Changes

Part 1: Introduction to Modern Management

This section contains the foundation concepts necessary to obtain a worthwhile understanding of management.

  • Chapter 1, “Introducing Modern Management: Concepts and Skills” This chapter introduces the primary activities that modern managers perform and discusses the skills that help managers to be successful throughout their careers. The new Practical Challenge highlight discusses how Michael Hoffman attains goals at New York Passport Agency, and the new Steps for Success highlight gives practical tactics on how to develop your own human skills. The new Tips for Managing around the Globe highlight gives practical insights about how to manage international experiences to best build international expertise. New material has also been added describing the salary levels of top managers.

Part 2: Modern Management Challenges

  • Chapter 2, “Managers, Society, and Sustainability” This newly named chapter has been extensively revised and includes an added focus on sustainability. It opens with a new Challenge Case, “IKEA Builds on Its Commitment to the Environment.” Major management and social topics like good corporate citizenship, social responsibility, social responsiveness, social responsibility challenges, philanthropy, sustainability, and ethics are all emphasized. New highlights include discussion about whether or not clothing retailers are responsible for Bangladeshi garment workers, how General Mills focuses on achieving sustainability, and steps for building an ethical work environment.

  • Chapter 3, “Management and Diversity” This chapter, which opens with a new Challenge Case regarding diversity at GE Lighting, focuses on how to establish and maintain a workforce that includes a diverse assortment of human characteristics, all of which aid an organization in goal attainment. New coverage includes a discussion of the X, Y, Baby Boomer, and Silent generations. Freshness has been added to the chapter in the form of new coverage of stereotypes, the presentation of Sodexo as an example of how to promote diversity globally, and tips on how to motivate a multigenerational workforce.

  • Chapter 4, “Managing in the Global Arena” This chapter focuses on managing company operations across various countries. The chapter opens with a Challenge Case on McDonald’s and its global exploits. New coverage in this chapter emphasizes managing risk globally, leading in other cultures, and focusing on ethics in global situations. The chapter ends with a new case, “Coca-Cola’s Effort to Refresh the Whole World.”

Part 3: Planning

This section elaborates on planning as a primary management function.

  • Chapter 5, “Plans and Planning Tools” This chapter provides a focused and unified presentation of the essentials of planning. The new Challenge Case explores how Wal-Mart uses planning concepts to improve performance. The chapter also includes a new example illustrating how Audi establishes production goals. The new Steps for Success feature reviews key steps that companies can take to write effective policies and procedures. The new Tips for Managing around the Globe feature shows how Mars Inc. uses forecasting to predict cocoa production levels. The chapter also provides recent and relevant examples related to the product life cycle. The new Practical Challenge highlight illustrates how two construction companies used scheduling techniques to meet project deadlines.

  • Chapter 6, “Making Decisions” This chapter details the primary concepts involved with decision making. The new Tips for Managing around the Globe feature illustrates the processes used by Shaw Industries to make good decisions around the globe. The new Practical Challenge feature reviews how K’Nex Brands makes decisions that are consistent with the company’s important goal of maintaining manufacturing in the United States. The new Steps for Success highlight presents key steps to improve group decision making.

  • Chapter 7, “Strategic Planning: Strategies, Tactics, and Competitive Dynamics” This chapter includes the latest research on strategic planning. The new Challenge Case focuses on how Facebook uses its strategy to gain a competitive advantage over its rivals. The chapter includes new coverage of the Affordable Care Act and its relationship to strategy. The chapter also includes a new example to illustrate how Hershey’s is using strategy to expand internationally. The new Steps for Success feature outlines how asking the right questions can help in the strategy formulation process. The new Tips for Managing around the Globe feature illustrates how Tata Motors has adapted its strategy to succeed internationally. The new Practical Challenge highlight illustrates the competitive dynamics taking place between Amazon and traditional retailers such as Home Depot and Target. The chapter concludes with a new end-of-chapter case that examines Nucor’s strategy and mission statement.

Part 4: Organizing

This section discusses organizing activities as a major management function.

  • Chapter 8, “Fundamentals of Organizing” This chapter details the key concepts involved with organizing. The chapter begins with a new Challenge Case exploring how Microsoft adopted a new organizational structure to adapt to its competitive environment. The new Practical Challenge highlight illustrates how the Massachusetts Bay Transportation Authority centralized information to coordinate its security activities. The new Tips for Managing around the Globe highlight shows how Yum Brands established an international division to better serve its employees and customers around the world. The new Steps for Success highlight explains how companies can better implement matrix organizational structures; the chapter also includes new material on organic versus mechanistic organizational structures. The chapter concludes with a new end-of-chapter case illustrating the role of organizational structure in the success of Shutterstock.

  • Chapter 9, “Responsibility, Authority, and Delegation” This chapter details the importance of responsibility, authority, and delegation in managerial effectiveness. The new Practical Challenge highlight illustrates how the Extended Stay America hotel chain uses “Get Out of Jail, Free” cards to help foster innovation among employees. The new Tips for Managing around the Globe highlight shows how Four Seasons Hotels and Resorts uses decentralization to succeed in international markets. The new Building Your Management Skills Portfolio exercise discusses the management challenges facing Charlie Strong, the new head football coach at the University of Texas.

  • Chapter 10, “Human Resource Management” This chapter covers the primary concepts involved in understanding effective human resource management. The chapter provides discussion regarding the EEOC’s updated rules, which prohibit discrimination based on sexual orientation and genetic information. The chapter offers a new example of how the Moneta Group is handling its CEO succession process. The new Tips for Managing around the Globe feature reviews how European companies are adding more females to their boards of directors. The new Steps for Success highlight illustrates the advantages and challenges of computer-based training techniques. The new Practical Challenge highlight discusses the “scorecards” used by Citigroup for performance appraisals.

  • Chapter 11, “Changing Organizations: Stress, Conflict, and Virtuality” This chapter discusses ways in which managers change organizations and the possible impacts of factors like stress, conflict, and virtuality in taking such action. The new Tips for Managing around the Globe highlight presents an account of how Avon tested introducing a change in one country before implementing the change in other countries, and the new Steps for Success highlight outlines how to manage stress caused by change. The new Practical Challenge highlight focuses on the method that Southwest Airlines uses to manage conflict. The new end-of-chapter case explores the use of virtual offices at Business Management Resource Group, an accounting firm.

Part 5: Influencing

This section discusses ways that managers should deal with employees. Reflecting the spirit of the AACSB guidelines, which encourage the thorough coverage of human factors in business curriculum, the influencing section is quite comprehensive.

  • Chapter 12, “Influencing and Communication” This chapter introduces the topic of managing people, defines interpersonal communication, and presents organizational communication as the primary vehicle managers use to interact with employees. The chapter opens with a new case, entitled “How Evernote’s Phil Libin Keeps Communication Flowing.” Other new coverage focuses on identifying influential people, overcoming cultural barriers in foreign countries, and using eye contact in the communication process.

  • Chapter 13, “Leadership” This chapter covers various established approaches to leadership: the trait approach, the behavioral approach, and the situational approach, which includes the life cycle theory of leadership, Fiedler’s contingency theory of leadership, and the path–goal theory of leadership. Emerging leadership thought is also discussed: servant leadership, Level 5 leadership, transformational leadership, and authentic leadership. New coverage explores how leadership might vary from one country to another, what it takes to become a transformational leader, and how to lead for greatness. The new end-of-chapter case is “Jeff Bezos Is the Force of Nature behind Amazon.”

  • Chapter 14, “Motivation” This chapter defines motivation, describes the motivation process, and provides useful strategies that managers can use to motivate organization members. Both content and process theories of motivation are discussed in detail. New material focuses on using rewards to motivate people, communicating rewards that align with organizational values, and making motivation work in organizations.

  • Chapter 15, “Groups and Teams” This chapter emphasizes managing clusters of people as a means of accomplishing organizational goals. Coverage focuses on managing teams and on groups versus teams, virtual teams, problem solving, self-managed and cross-functional teams, stages of team development, empowerment, the effectiveness of self-managed teams, and factors contributing to team effectiveness. The chapter opens with a new Challenge Case, “Better Teamwork Makes Numerica Credit Union a Winner.” The new Steps for Success highlight focuses on leading group development, and the new Practical Challenge highlight focuses on solving problems as a team. The new Tips for Managing around the Globe highlight explores trust in international teams, and the new end-of-chapter case is “How Yum Brands Fosters Team Spirit.”

  • Chapter 16, “Managing Organization Culture” The chapter opens with a new Challenge Case titled “Zappos Doesn’t Sell Shoes—It ‘Delivers WOW.’ ” Major topics include defining organization culture, the importance of organization culture, and building a high-performance organization culture. Special discussion focuses on cultural artifacts: organizational values, myths, sagas, language, symbols, ceremonies, and rewards. New material has been included on Marriott International’s code of conduct, how a team-oriented culture supports high performance, and telling stories to build corporate culture. The new end-of-chapter case is “Testing the Health of Goldman Sachs’s Culture.”

Part 6: Controlling

This section presents control as a major management function. Major topics include fundamentals of control, controlling production, and information technology.

  • Chapter 17, “Controlling, Information, and Technology” This chapter presents the latest research on controlling, information, and technology. The new Tips for Managing around the Globe highlight discusses how individuals exercise power differently in different countries because of cultural differences. The new Steps for Success highlight illustrates how companies use technology to harness “big data.” The new Practical Challenge highlight illustrates how organizations collect and exploit data from social media.

  • Chapter 18, “Production and Control” The chapter describes Amazon’s use of robots to illustrate how companies incorporate automation to improve efficiency and reduce costs. The new Practical Challenge highlight explores how hospitals use continuous improvement to improve quality. The new Tips for Managing around the Globe feature reviews how Volkswagen chooses its manufacturing sites across the globe. The new Steps for Success highlight illustrates the role of budgets in the controlling process.

Learning Modules

  • Learning Module 1, “Managing: History and Current Thinking” This appendix presents the historical development of management thought that proceeds up to modern times. A new Challenge Case focuses on how CEO Alan Mulally emphasizes innovation to keep Ford Motor Company moving ahead. The new Practical Challenge highlight discusses how Bank of America redesigned work areas to improve productivity, while the new Steps for Success highlight provides advice on how to better understand employees. The new Tips for Managing around the Globe highlight describes crowdfunding, an innovative way that IBM encourages global innovation. A new appendix-ending case focuses on managing UPS in an Internet economy.

  • Learning Module 2, “Management and Entrepreneurship” This appendix focuses on the discovery, evaluation, and exploitation of business opportunities. The new Practical Challenge highlight illustrates how Bohemian Guitars used crowdfunding to raise capital. The new Tips for Managing around the Globe feature shows how a student at MIT capitalized on an idea for a solar-powered stove to help rural residents in other countries cook their food. The new Steps for Success highlight describes the key steps an entrepreneur should take to start a new business. The appendix-ending case explains how one entrepreneur’s part-time job became a $40 million business called Drybar.

  • Learning Module 3, “Encouraging Creativity and Innovation” This appendix presents new research on creativity and innovation and reports on the efforts of the most innovative companies in America. Integrated throughout the appendix is an example demonstrating how Netflix used innovative techniques to produce dramas that are available only to its subscribers. The new Tips for Managing around the Globe feature describes how Michelin uses innovation and quality control to create tires that appeal to consumers all over the world. The new Practical Challenge highlight shows how the United Nations used creativity to help rebuild Indonesia after the 2004 tsunami. The Steps for Success feature describes how organizations use hackathons to spur innovation.

Modern Management 14th Edition: The Skills

From a pedagogy standpoint, the 14th edition of Modern Management continues its unique-in-the-marketplace focus of developing students’ management skills across all of the primary management functions. Each chapter opens by identifying a specific management skill on which the chapter focuses. The remainder of the chapter contains several purposefully placed features designed to help students develop that skill.

This focus on skill development is consistent with the recommendation of the Association to Advance Collegiate Schools of Business (AACSB), which provides higher-education professionals with well-founded standards for maintaining excellence in management education. The AACSB standards indicate that excellence in modern management education is achieved when students acquire both knowledge about management concepts and skill in applying that knowledge. According to these standards, management educators must help students understand and appreciate both the “why” and the “how” of management.

The following sections discuss the pedagogical features in this text that help students learn management theory and how to apply it.

  1. Chapter Target Skill: Each chapter opens by identifying and defining the target management skill that is emphasized in that chapter. By focusing on this target skill early in the chapter, students immediately have a context for learning chapter concepts. For an example of a chapter’s target skill, see the definition of “social responsibility skill” on page 24.

  2. Learning Objectives: In each chapter, a list of learning objectives follows the Chapter Target Skill. These objectives expand on the chapter target skill to help students further focus on learning critical chapter concepts.

  3. Challenge Case: Each chapter opens with a Challenge Case. The purpose of the Challenge Case is to introduce students to real challenges faced by real managers and to demonstrate the usefulness of the chapter’s concepts and related management skills in meeting those challenges. Each case summarizes a set of issues for a manager within a company and asks students how they would resolve the issues. Nine of the cases in this edition are new and focus on companies such as Ford Motor Company, IKEA, GE Lighting, and Facebook.

  4. Practical Highlights: Market research revealed that instructors are particularly interested in highlights throughout the book that focus on practical applications of management concepts. New to this edition, each chapter contains one Steps for Success highlight, one Tips for Managing around the Globe highlight, and one Practical Challenge highlight. The primary objective of these highlights is to illustrate how practicing managers can apply management ideas to deal with everyday problems. As an example of a Tips for Managing around the Globe highlight, Chapter 16 shows how Marriott International crafted a code of conduct to help mold its corporate culture. As an illustration of a Practical Challenge highlight, Chapter 13 explains how the CEO of Xerox meets her leadership challenges. The Steps for Success highlight in Chapter 2 lists tactics that managers can take to create an ethical work environment. Taken together, the real-life examples illustrated in these highlights throughout the book help to reinforce the development of critical management skills.

  5. Challenge Case Summary: Each chapter ends with a Challenge Case Summary. This section provides extensive narrative on how chapter concepts relate to the issues presented in the chapter-opening Challenge Case. To better understand this pedagogical feature, see the Challenge Case Summary for the chapter-opening “How Evernote’s Phil Libin Keeps Communication Flowing” case on page 266.

  6. Developing Management Skill Activities: Each chapter also ends with a rich array of learning activities that help students better understand management concepts and develop skills in applying those concepts. Specific activities are listed and explained below.

    1. Class Preparation and Personal Study: This section gives students a series of activities to help them become adequately prepared to discuss the chapter in the classroom.

      1. Reflecting on Target Skill. Here, students are asked to refer back to the learning objectives at the beginning of the chapter to make sure that they’ve reached those objectives.

      2. Know Key Terms is a section in which a chapter’s key terms are listed along with the page numbers on which the terms are discussed. For an example Know Key Terms section, see page 170 in the Strategic Planning chapter.

      3. Know How Management Concepts Relate contains essay questions related to chapter material. These questions help students focus on the interrelationships among chapter concepts and how those concepts relate to the management process. For a sample Know How Management Concepts Relate, see page 284 in the Influencing and Communication chapter.

    2. Management Skills Exercises: This chapter-ending section contains many activities that help students develop skills related to chapter content.

      1. Cases. Each chapter concludes with two cases. The first of these cases is an extension of the chapter’s Challenge Case, and students are given a series of discussion questions that stimulate further discussion of the Challenge Case. Page 25 contains an example of such questions related to “IKEA Builds on Its Commitment to the Environment,” the Challenge Case in the Managers, Society, and Sustainability chapter.

        The second concluding case has been specifically chosen to illustrate real-life management issues and the steps necessary to deal with those issues. Almost half of these specially chosen cases are new to this edition; these new end-of-chapter cases examine organizations such as Yum Brands, Jeff Bezos and Amazon, and UPS. For an example of one of these new end-of-chapter cases, see the Goldman Sachs case on page 385 of Chapter 16.

      2. Experiential Exercises. Each chapter concludes with two types of experiential exercises. The first type is specially designed to help students develop knowledge and skill related to chapter content. For an example of this type of experiential exercise, see “Developing a Diversity Profile” on page 74 of the Management and Diversity chapter.

        The second type is an exercise that focuses on helping students use chapter content to better manage their own careers. This exercise is called “You and Your Career,” and a sample of this exercise can be found on page 74 of the Management and Diversity chapter.

      3. Building Your Management Skills Portfolio. This activity at the end of each chapter is specially designed to allow students to demonstrate the management skill they learned in that chapter. Instructors may choose to have students turn in hard or electronic copies of this assignment. In addition, instructors may ask students to present their completed portfolios in class. Students may also use this portfolio to help win a job during an employment interview. See “Delegating Football Duties at the University of Texas” on page 215 for an example of this type of activity.

Modern Management: Student Learning

Students often ask professors to suggest the best way to study to maximize learning. By using the components of Modern Management in a conscientious and systematic fashion, students can build their knowledge about management concepts and the skills to apply those concepts. Although the components of Modern Management are flexible and can be used for many different study processes, one suggested study process is presented below.

As shown in Figure 1, students can start their study of a chapter by Applying Management Concepts: Part 1. In this study process, students learn concepts by reading and studying each chapter and then by checking their progress in meeting the learning objectives presented at the beginning of the chapter. In addition, they can check their progress by seeing how well they can answer the essay questions at the end of the chapter. By checking their learning progress, students can pinpoint areas in which further study is needed before they move forward.

Once students are satisfied that they have learned chapter content, they can start their skills focus by Applying Management Concepts: Part 2. In this continuation of the study process, students first review the Chapter Target Skill and the Challenge Case Summary, and then they focus on learning how to apply management concepts by performing the application exercises assigned by their professor. Students might also work on exercises independently and do work that was not assigned by the professor. Application exercises include the Building Your Management Skills Portfolio, Experiential Exercises, and Cases.

Figure 1 A systematic method for maximizing learning when studying Modern Management

Instructor Resources

At the Instructor Resource Center, www.pearsonhighered.com/irc, instructors can easily register to gain access to a variety of instructor resources available with this text in downloadable format. If assistance is needed, our dedicated technical support team is ready to help with the media supplements that accompany this text. Visit http://247.pearsoned.com for answers to frequently asked questions and toll-free user support phone numbers.

The following supplements are available with this text:

  • Instructor’s Resource Manual

  • Test Bank

  • TestGen® Computerized Test Bank

  • PowerPoint Presentation

Video Library

Additional Videos illustrating the most important topics are available in MyManagementLab, under instructor resources: Business Today.

CourseSmart

CourseSmart eTextbooks were developed for students looking to save on the cost of required or recommended textbooks. Students simply select their eText by title or author and, using any major credit card, purchase immediate access to the content for the duration of the course. With a CourseSmart eText, students can search for specific keywords or page numbers, take notes online, print out reading assignments that incorporate lecture notes, and bookmark important passages for later review. For more information or to purchase a CourseSmart eTextbook, visit www.coursesmart.com.

Acknowledgments

The overwhelming success of Modern Management has continued for nearly four decades. The Modern Management Learning Package—this text and its ancillaries—has become a generally accepted academic standard for high-quality learning materials in colleges and universities throughout the world. These materials have been published in special “country editions” that serve the particular needs of management students in countries such as Canada and India. Modern Management has also been published in foreign languages, including Portuguese and Spanish, and is used in professional management training programs.

Certainly, we have received much personal satisfaction from and professional recognition because of the success of this text over the years. In truth, however, much of the credit for this text’s success continues to rightfully belong to many of our respected colleagues. Indeed, many key ideas for text development and improvement have come from others. Thus, we’re grateful for the opportunity to recognize the contributions of these individuals and extend to them our warmest personal gratitude for their professional insights and encouragement throughout the life of this project.

For this edition, several colleagues made valuable contributions through numerous tasks like reviewing manuscript and providing unsolicited ideas for improvement. These individuals offered different viewpoints and, in so doing, required us to constructively question our work. Thoughtful comments, concern for student learning, and insights regarding instructional implications of the written word characterized the high-quality feedback we received. These individuals are:

  • Dan S. Benson, Kutztown University of Pennsylvania

  • Fred J. Dorn, University of Mississippi

  • Omid E. Furutan, University of La Verne

  • Reginald Hall, Tarleton State University

  • Robert W. Halliman, Austin Peay State University

  • Scott A. Quatro, Covenant College

  • Anthony W. Slone, Elizabethtown Community & Technical College

  • Casey R. Smith, Shawnee State University

  • Many colleagues have made significant contributions to previous editions of this project that are still impacting this 14th edition. A list of such respected colleagues includes:

  • Don Aleksy, Illinois Valley College

  • Michael Alleruzzo, Saint Joseph’s University

  • Barry Axe, Florida Atlantic University

  • Karen Barr, Penn State University

  • Dan Baugher, Pace University

  • Gene Blackmun III, Rio Hondo College

  • Wayne Blue, Allegany College of Maryland

  • Elise A. Brazier, Northeast Texas Community College

  • Patricia M. Buhler, SPHR, Goldey-Beacom College, Wilmington, DE

  • Michael Carrell, Morehead State University

  • Tony Cioffi, Business Division, Lorain County Community College

  • Christy Corey, University of New Orleans

  • Helen Davis, Jefferson Community College–Downtown Louisville

  • E. Gordon DeMeritt, Shepherd University

  • Lon Doty, San Jose State University

  • Megan Endres, Eastern Michigan University

  • Joyce Ezrow, Anne Arundel Community College

  • Ronald A. Feinberg, Business, Accounting & Paralegal Studies, Suffolk Community College

  • William Brent Felstead, College of the Desert

  • Robert Freeland, Columbia Southern University

  • Theresa Freihoefer, Central Oregon Community College

  • Dwight D. Frink, University of Mississippi

  • George Gannage, West Central Technical College

  • Wayne Gawlik, Joliet Junior College

  • Ashley Geisewite, Southwest Tennessee Community College

  • Adelina Gnanlet, California State University

  • Joseph Goldman, University of Minnesota

  • Scott D. Graffin, Terry College of Business, University of Georgia Athens

  • Jamey R. Halleck, Marshall University

  • LeaAnna Harrah, Marion Technical College

  • Heidi Helgren, Delta College

  • Jo Ann Hunter, Community College of Allegheny County

  • Steven E. Huntley, Florida Community College at Jacksonville

  • Robert E. Kemper, Northern Arizona University

  • Toni Carol Kind, Binghamton University

  • Dennis L. Kovach, Community College of Allegheny County

  • Loren Kuzuhara, University of Wisconsin

  • Gosia Langa, University of Maryland

  • Theresa Lant, New York University

  • Maurice Manner, Marymount College

  • Jon Matthews, Central Carolina Community College

  • Michelle Meyer, Joliet Junior College

  • Angela Miles, North Carolina A&T State University

  • Marcia Miller, George Mason University

  • Robert Morris, Florida State College of Jacksonville

  • Jennifer Morton, Ivy Tech Community College

  • Rhonda Palladi, Georgia State University

  • Donald Petkus, Indiana University

  • James I. Phillips, Northeastern State University

  • Richard Ratliff, Shari Tarnutzer, and their colleagues, Utah State University

  • Paul Robillard, Bristol Community College

  • Tim Rogers, Ozarks Technical College

  • Gisela Salas, Webster University, Barry University, St. Leo University, University of the Rockies

  • James Salvucci, Business Management, Curry College, Milton, MA

  • Duanne Schecter, Muskegon Community College

  • Johnny Shull, Central Carolina Community College

  • Denise M. Simmons, Northern Virginia Community College

  • Joe Simon, Casper College

  • Randi L. Sims, Nova Southern University

  • Gregory Sinclair, San Francisco State University

  • L. Allen Slade, Covenant College

  • M. Smas, Kent State University

  • Miles Smayling, Minnesota State University, Mankato

  • Charles I. Stubbart, Southern Illinois University Carbondale

  • Dr. Peter Szende, Boston University

  • Tom Tao, Lehigh University

  • Paul Thacker, Macomb Community College

  • Don Tobias, Cornell University

  • Larry Waldorf, Boise State University

  • Gloria Walker, Florida Community College at Jacksonville

  • Cindy W. Walter, Antelope Valley College

  • Bob Waris, University of Missouri Kansas City

We would like to thank Karen Schenkenfelder for assisting us the in development of this edition. Most especially for researching and writing the new Challenge Cases and Summaries, as well as integrating the new MyLab assets. She was also instrumental in aiding our research into a fresh and new photo program for this edition.

In addition, we would like to thank Jane Murtaugh for updating all of the supplements to the highest quality. She worked tirelessly to provide instructional aids, and we thank her for her time and efforts. The authors would also like to acknowledge Karin Williams and her MyLab team—Linda Hoffman, Ivy Tech Community College - Fort Wayne; Alysa D. Lambert, Indiana University Southeast; Denise M. Lorenz, Wake Technical Community College; Gordon Schmidt, Indiana University-Purdue University Fort Wayne; Sarah Shepler, Ivy Tech Community College—did a terrific job of bringing the textbook’s content to life with practical and relevant MyLab Online exercises.

We will always owe Professor Lee A. Graf, Professor Emeritus, Illinois State University, a huge debt of gratitude for helping to build the success of Modern Management throughout the early years of this project. Dr. Graf’s countless, significant contributions in many different areas have certainly been instrumental in building the reputation and widespread acceptance of the text and its accompanying supplements. More important than our professional relationship, Dr. Graf is our friend.

Members of our Pearson family also deserve personal and sincere recognition. Our book team has been nothing but the best: Stephanie Wall, Editor-in-Chief; Kris Ellis-Levy, Senior Acquisitions Editor; Sarah Holle, Program Manager; Bernard Ollia VI, Editorial Assistant; Maggie Moylan, Vice President, Marketing; Anne Fahlgren, Product Marketing Manager; Lenny Raper, Field Marketing Manager; Erin Gardner, Strategic Marketing Manager; Meghan De Maio and Nicole Suddeth, Project Managers; and the Media Team: Paul Gentile, Vice President, Director of Digital Strategy & Assessment; Brian Surette, Digital Editor; Robin Lazrus, Digital Development Manager; and Alana Coles, Digital Project Manager. Needless to say, without our Pearson colleagues, there would be no Modern Management.

Sam Certo would like to give special recognition to his colleagues at Rollins College for their support. Special acknowledgment goes to Craig McAllaster, dean of the Crummer Graduate School of Business at Rollins College, and to Charles “Chuck” Steinmetz, a highly regarded entrepreneur, for their personal support and encouragement of his work over the years.

Sam Certo would also like to acknowledge his family. Thanks to his wife, Mimi, for her continual support throughout this revision. She provides encouragement throughout every part of his life! Brian, Sarah and Andrew, Matthew, and Trevis and Melissa always help to build confidence and focus in him. To Skylar, Lexie, Landon, and Sophie, a very special thanks! You guys always help “Pop” to remember that the future looks bright!

Most of all, thanks to God for all of life’s blessings.

Trevis Certo would like to thank his colleagues at Arizona State University for their continued support. He would also like to thank Melissa, Skylar, Lexie, and Landon for humbling him every day. Finally, and most importantly, he would like to thank God for blessing him with a beautiful and healthy family.

Samuel C. Certo

S. Trevis Certo

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