Learning Objectives By the end of this section, you will be able to: The teachings and writings of Confucius (551–479 BCE; also called Kung Fu Tzu or Master Kung) not only have endured more than two and a half millennia but have…
Learning Objectives By the end of this section, you will be able to: It would be hard to overstate the influence of ancient Athens on Western civilization. Athenian achievements in the arts, literature, and government have molded Western consciousness. Perennial…
Figure 2.1 Their accuracy and practical use in the marketplace made scales, held aloft here by the figure of Justice in Bruges, Belgium, a common symbol in jurisprudence and law in the East and the West. Even today, the concept of counterbalancing…
Being a Professional of Integrity Ethics sets the standards that govern our personal and professional behavior. To conduct business ethically, we must choose to be a professional of integrity. The first steps are to ask ourselves how we define success…
Learning Objectives By the end of this section, you will be able to: Business people sometimes apply different ethical standards in different contexts, especially if they are working in a culture different from the one in which they were raised…
Learning Objectives By the end of this section, you will be able to: Few directives in business can override the core mission of maximizing shareholder wealth, and today that particularly means increasing quarterly profits. Such an intense focus on one…
Learning Objectives By the end of this section, you will be able to: Whenever you think about the behavior you expect of yourself in your personal life and as a professional, you are engaging in a philosophical dialogue with yourself…
Figure 1.1 Each of us makes innumerable decisions every day. In a business context, these choices have consequences for ourselves and others whom we must take into account in our decision-making process. (credit: modification of “business paper office laptop” by “rawpixel”/Pixabay, CC0)…
Present Value of $1 Table Figure B1 Present Value of $1 Table. Present Value of an Ordinary Annuity Table Figure B2 Present Value of an Ordinary Annuity Table. Future Value of $1 Table Figure B3 Future Value of $1 Table. Future Value of an Ordinary Annuity…
Financial Statement Analysis Financial statement analysis reviews financial information found on financial statements to make informed decisions about the business. The income statement, statement of retained earnings, balance sheet, and statement of cash flows, among other financial information, can be…