Business: the process of enterprise

Business: the process of enterprise

Business: the process of enterprise, by G.H. Graham, published by Science Research Associates, Inc., 1977, 529 pages, price E 9.05. This book is divid...

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Business: the process of enterprise, by G.H. Graham, published by Science Research Associates, Inc., 1977, 529 pages, price E 9.05. This book is divided into seven parts with a total of 26 chapters, followed by appendices, a bibliography, a glossary and a fairly extensive index. It is designed for students and the text is enriched with colour photographs and a large .&umber of black and white drawings, illustrating various themes in the text. The approach is simplistic but very readable. One of the stated objectives is “to present a meaningful and enjoyable learning experience” and it is fair to say that this objective has been achieved. It is written in the style of the textbook, each chapter concluding with a summary, a set of key terms and names, review questions, a series ‘of exercises and some illustrative case studies. It may be that the nature of the subject business -- is self evident but, as the author says, there are “few seconds during the day that we are not either engaging in or being influenced by ‘business’ “, yet it remains difficuit to define. Business is not limiied to manufacturing: we have a business system, which is a composite of all business firms and their relationships, moving from the extractive industries, through manufacturing and distribution to the service industries. The subject has a personal as well as an educational significance: all the students who study it are eventually going to have to play a role in business, and be affected by it day in, day out. It is for this reason that the text is interspersed with a large number of “career profiles” showing how recent college graduates have made the transfer from the classroom to the business world. These are all in the United States, the author being a professor of Business in the College of Business at Whichita State University, and the book is wholly orientated ‘3 that country in terminology and illusi., le data. The text follows a logical development, Part 1 dealing with the historical and social background to business as now practised in the

United States and Part 2, Owning and Financing a business outlining the individual and corporate approach to the satisfaction of customer needs by setting up the proper form of ownership and obtaining finance. Part 3 looks at business management, the organisational structure, information systems and accounting procedures, whilst Part 4 deals with employees and personnel management, 40 completing the picture of a business as such. Then comes the relationship between a business and the outside world. A business has to attract and accure customers, so Part 5 deals with marketing and the consumer and includes chapters on promotional strategies and international marketing. Then, to round off the subject, Part 6 considers business activities in the larger legal an? social environment which it must serve and to which it must adapt. So three chapters here consider in turn business and government, business law and ethics and business careers. To provide a degree of flexibility in the approach a further Part 7 is provided giving a series of ‘enrichment’ topics which can be used by the teacher to supplement the earlier parts, or by advanced students seek;ng additional information. There are five chapters here, with topics such as banking, managers, tools for management decision making, personnel training and marketing management. The emphasis throughout the book is on the practical application of the principles being learned and apart from the career profiles already referred to, boxed in ‘applications’ appear throughout the chapters to give current examples of many of the concepts being presented, whilst the exercises and case studies require the student to use the knowledge gained in the solving of actual problems such as are encountered daily in business practice. The author says that the world of business is dynamic, challenging and exciting and his enthusiasm for his subject is indeed YObe seen in this book, making it very easy reazing. E.A. Stallworthy