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page i
Business Foundations
13e
A CHANGING WORLD
O.C. Ferrell
Auburn University
Geoffrey A. Hirt
DePaul University
Linda Ferrell
Auburn University
page ii
BUSINESS FOUNDATIONS
Published by McGraw Hill LLC, 1325 Avenue of the Americas, New York, NY 10121.
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ISBN 978-1-265-04369-8
MHID 1-265-04369-8
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page iii
Dedication
To James Ferrell
To Stan Block
To George Ferrell
page iv
Authors
O.C. FERRELL
O.C. Ferrell is the James T. Pursell Sr. Eminent Scholar in Ethics and
Director of the Center for Ethical Organizational Cultures in the
Raymond J. Harbert College of Business, Auburn University. He was
formerly Distinguished Professor of Leadership and Business Ethics
at Belmont University and University Distinguished Professor at the
University of New Mexico. He has also been on the faculties of the
University of Wyoming, Colorado State University, University of
Memphis, Texas A&M University, Illinois State University, and
Southern Illinois University. He received his PhD in marketing from
Louisiana State University.
Dr. Ferrell is past president of the Academy of Marketing Science.
He is past president of the Academic Council of the American
Marketing Association and chaired the American Marketing
Association Ethics Committee. Under his leadership, the committee
developed the AMA Code of Ethics and the AMA Code of Ethics for
Marketing on the Internet. In addition, he is a former member of the
Academy of Marketing Science Board of Governors and is a Society
of Marketing Advances and Southwestern Marketing Association
Fellow and an Academy of Marketing Science Distinguished Fellow.
He served for nine years as the vice president of publications for the
Academy of Marketing Science. He received a Lifetime Achievement
Award from the Macromarketing Society and a special award for
service to doctoral students from the Southeast Doctoral
Consortium. He received the Harold Berkman Lifetime Service Award
from the Academy of Marketing Science and the Cutco Vector
Distinguished Marketing Educator Award from the Academy of
Marketing Science.
Dr. Ferrell has been involved in entrepreneurial engagements, co-
founding Print Avenue in 1981, providing a solution-based printing
company. He has been a consultant and served as an expert witness
in legal cases related to marketing and business ethics litigation. He
has conducted training for a number of global firms, including
General Motors. His involvement with direct selling companies
includes serving on the Academic Advisory Committee and as a
fellow for the Direct Selling Education Foundation.
Dr. Ferrell is the co-author of 20 books and more than 100
published articles and papers. His articles have been published in the
Journal of Marketing Research, Journal of Marketing, Journal of
Business Ethics, Journal of Business Research, Journal of the
Academy of Marketing Science, AMS Review, and Journal of Public
Policy & Marketing, as well as other journals.
GEOFFREY A. HIRT
Courtesy of Geoffrey A. Hirt
LINDA FERRELL
Welcome
page vii
Our goal is to make sure that the content and teaching package
for this book are of the highest quality possible. We wish to seize
this opportunity to gain your trust, and we appreciate any feedback
to help us continually improve these materials. We hope that the real
beneficiary of all of our work will be well-informed students who
appreciate the role of business in society and take advantage of the
opportunity to play a significant role in improving our world. In this
new edition, we have additional content to help our students
understand how our free enterprise system operates and how we fit
into the global competitive environment. This course is an
opportunity for students to understand how they can create their
own success and improve their quality of life.
O.C. Ferrell
Geoffrey A. Hirt
Linda Ferrell
page viii
Focused, Exciting,
Applicable, Happening
Business Foundations: A Changing World, thirteenth edition, offers
faculty and students a focused resource that is exciting,
applicable, and happening! What sets this learning program apart
from the competition? An unrivaled mixture of exciting content and
resources blended with application-focused text and activities, and
fresh topics and examples that show students what is happening in
the world of business today!
Our product contains all of the essentials that most students should
learn in a semester. Business Foundations has, since its inception,
delivered a focused presentation of the essential material needed to
teach introduction to business. An unrivaled mixture of exciting
content and resources, application-focused content and activities,
and fresh topics and examples that show students what is
happening in the world of business today set this text apart!
Focused!
It’s easy for students taking their first steps into business to
become overwhelmed. Longer products try to solve this problem
by chopping out examples or topics to make ad hoc shorter
editions. Business Foundations carefully builds just the right mix
of coverage and applications to give your students a firm
grounding in business principles. Where other products have you
sprinting through the semester to get everything in,
Ferrell/Hirt/Ferrell allows you the breathing space to explore
topics and incorporate other activities that are important to you
and your students. The exceptional resources and the Active
Classroom Resource Manual support you in this effort every step
of the way.
page ix
Exciting!
It’s exciting to see students succeed! It’s exciting to see more As
and Bs in a course without grade inflation. Ferrell/Hirt/Ferrell
makes these results possible for your course with its integrated
learning package that is proven effective, tailored to each
individual student, and easy to use.
Applicable!
When students see how content applies to them, their life, their
career, and the world around them, they are more engaged in
the course. Business Foundations helps students maximize their
learning efforts by setting clear objectives; delivering interesting
cases and examples; focusing on core issues; and providing
engaging activities to apply concepts, build skills, and solve
problems.
Happening!
Everything in this edition reflects the very latest developments in
the business world—such as the COVID-19 pandemic that
resulted in high unemployment, stress on small businesses, and
disruption in supply chains. In addition, ethics and social
responsibility have become much more important as firms are
being rewarded for having a social conscience and addressing
unrest and conflicts in society.
page x
page xi
When they at last went out to the long-delayed dinner, the high
back chair at the foot of the table found no occupant.
“Late, as usual,” said the major. “Lena,” he added, “go and tell the
colonel that dinner is ready.”
“Oh, if you please, major, she’s gone to bed. She come upstairs
more than an hour ago. She took her bath, sir, and went right to bed.
I ast her did she feel sick, and she says no, but that them was your
orders. She wouldn’t let Nora bring her up no tea.” Lena looked
reproachful.
“And she cried awfully,” said Rose.
“She never let a tear out of her until I shut the door, Miss Rose,”
said Lena, firmly; “and she ast me to put out a dress with a plain
sleeve for to-morrow. She shut the windows down so’s she shouldn’t
hear the band, but she never cried none.”
The aid winced. The general cleared his throat.
“Well, she’s your child, Fitzgerald. But I think I’ll issue a few orders
in this matter myself.”
“You’re my superior officer, sir,” said the major, eagerly.
NOTES
Some weeks after the story, “Ten Thousand Years in Ice,” on page
127, was printed in the Argonaut, there arrived at the editorial rooms
one morning quite a large bundle of letters bearing Hungarian
postage-stamps. On opening them, we found them to be in various
languages. One of them was in very queer English; this we
reproduce verbatim:
[Original.]
Aradi Szechenyi-Gozmalomarader Szechenyi-Dampfmuhl-
Reszveny-Tarsasag Actien-Gesellschaft.
Arad (Hungary), feb. 25.
To the Editor of the Argonaut, San Francisko: Before a
short time I red an article from Dr. Milne translating in the Pester
Lloyd newspaper which was very interesting.
The editor of this newspaper told me that this essay was formerly
edited by you, an I am so free to ask you:
Is it very what Dr. Millene wrote from the “Men which is frozen
10,000 years ago in the ice,” and beg to accept my salutations. I am
thankful.
Yours very truly, J. Kleinsson.
Arad (Hungary), Minorite palace, II etage, door 17.
The next letter contained an inclosure, and was couched as
follows:
[Original.]
Reviewer, office of the “Argonaut,” San Francisco—Dear
Sir: I take the liberty to beg you, will you be so kind to deliver the
enclosed letter to the autor of the article: “Ten thousand years in the
ice” (published in your newpaper of the 14 january) Sir Robert
Dunkan Milne.
I thank you, sir, for your kindness and I shall be happy to render
you a reciprocal service.
Yours, Sigmonde Barany.
Zombor (Hungary) the 23 february.
[Inclosure.]
Zombor (Hungary), 23 february.
Sir Robert Dunkan Milne, Esqr., San Francisco—Dear Sir: I
read your article: “Ten thousand years in the ice” in the Argonaut of
the 14 january, and while it has made the greatest sensation in our
country I take the liberty to beg you, will you be so kind, to answer
me, what is the truth of this matter?
I shall be happy, sir, when you will honor me with an answer, and
thanking for your kindness, I’m your very obliged
Sigmonde Barany.
The next letter showed that his Austro-Hungarian majesty’s
officers have literary taste. It read thus:
[Original.]
Kronstadt (Transylvania, Austria), 20th February.
To the Argonaut, belletrist. newspaper, San Francisco,
California: I should feel very much obliged to you, if you were kind
enough to give me some accounts about the truth and fact of the
most interesting tale, which contained the last number of your
excellent paper (dated from the 14th of January)—“ten thousand
years in ice,” by Sir Robert Dunkan Milne. Looking forward to your
kind answer,
I am yours thankfully,
A. Kyd, lieutenant in the 2d regmt of the Hussars.
The next letter is signed by one of a family whose name is famous
in Austria:
[Original.]
To the Editor of the “Argonaute,” periodical, San
Francisco, California, U. S. (Esrakamerika)—Sir: I had the
pleasure to read the article: “Ten thousand years in the ice,” by Sir
Robert Duncan Milne (which appeared in the Argonaut of January
14th), in the Pester Lloyd, and in answer to a question regarding this
article, the editor of the Pester Lloyd advised me to write to you, sir,
as you would be surely able to answer the following question:
Is the article: “Ten thousand years in the ice,” based on mere
fiction, or is he partially true? I am rather inclined to think that there is
some truth in the article, because Sir Robert Duncan Milne in
speaking of himself and his friend calls him by his real name.
You would very much oblige me, by being so good as to answer
my question, or in case that you should neither be able to do this, by
forwarding my letter to Sir Robert Duncan Milne.
Apologizing for the trouble I may give you by this request, I am sir,
Yours very obediently,
Richard Lichtenstein.
February 24th. 26, Andrassy street, Budapest (Hungary).
The next letter was in German. It bore a lithographed heading
showing that the writer dated it from a large foundry. The letter ran:
[Translation.]
Maschinenfabrik, Eisen-und Metallgiesseri.
Fuenfkirchen, Hungary, 23 Feb.
To the Esteemed Editorial Department of the Journal of
Polite Literature, “Argonaut,” at San Francisco: In your valued
paper, and namely in the number of the fourteenth of last month, you
published an article by Sir Robert Duncan Milne, “Ten thousand
years in ice.”
If the honored editorial department does not consider it
troublesome, I would allow myself a question, the kind answer to
which I beg, what portion is true in this most interesting story?
Hoping you will appreciate the respect in which I sign myself, Your
most humble, P. Haberenyi.
Another German letter was as follows:
[Translation.]
Budapesth, 23 Feb.
Esteemed Editorial Department of the “Argonaut,” Journal
of Polite Literature, San Francisco, Cal.: In the Pester Lloyd of
this city was published a story “Ten thousand years in ice.” Since I
have not the pleasure of knowing the author of the English original,
“Sir Robert Duncan Milne,” he who alone could give a definite
answer as to what is true in this story; and since the original of this
most interesting story has been published in the journal Argonaut,
therefore, I hope that the honored Editorial Department will certainly
be willing to send to Sir Milne the above-mentioned inquiry, so that, if
possible, something more about the particulars of it may be learned.
Rendering you herewith my best thanks for your trouble, I sign
Most humbly, M. Fisher.
Address: Dolf Harsanyi, Budapest.
The next letter, also in German, came from a lawyer. It read thus:
[Translation.]
Ugyved Dr. Rusznyak Samu, Advocat,
Budapest, V, Nagy Korona-Utcza, 5.
22nd of February.
An die lobliche Redaction des Argonaut:
Esteemed Editorial Department—In the Pester Lloyd, a paper
appearing in Budapest, was reproduced under the title “Ten
Thousand Years in Ice,” a highly interesting story, which was
published in your very valued paper in the number of the 14th of
January.
The author of the English original published in the Argonaut is Sir
Robert Duncan Milne.
The above-mentioned story stirred up a great and general interest
here, so that very many readers turned to the editorial department of
the Pester Lloyd with the question, how much of the story was true?
Said editorial department not being able to answer the question,
referred the inquiries to the esteemed editorial department of the
Argonaut.
I permit myself, therefore, to make to your esteemed editorial
department the humble request, and indeed in my own, as well as in
the name of several friends, to be so kind as to state what was true
in the above-mentioned story?
At the same time I request that you may make known to me the
subscription price of your valued paper.
Since I can not furnish myself with postage stamps of the United
States in Budapest, I request that you send me your kind answer
without prepaying same.
Recommending my request to your favor, I sign
Most respectfully, Dr. Samuel Rusznyak.
After a lapse of a few days we received another batch of letters,
two of which explained the epistolary avalanche. One of them was
from the editor of the Pester Lloyd, stating that he had printed a
translation of the story in his journal and had been overwhelmed with
inquiries as to whether it was fact or fiction. Another letter was from
Mme. Fanny Steinitz, a literary lady living in Buda-Pesth, who
confessed that she was the cause of the outburst, as she had
translated the story. In order to heighten the interest she had
elevated the writer, Mr. Milne, to the order of knighthood by giving
him an accolade with her pen.
How naïve and ingenuous must be the Hungarian nature! Fancy a
number of serious American business men writing to an American
journal concerning an exciting story like that of Mr. Milne.
*** END OF THE PROJECT GUTENBERG EBOOK ARGONAUT
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