The Open Education Initiative and Pamplin College of Business at Virginia Tech are pleased to announce the release of a 4th edition of Fundamentals of Business and selected new slide decks to accompany chapters.
Fundamentals of Business https://doi.org/10.21061/fundamentalsofbusiness4e , fourth edition (2023) is an 434-page open education resource intended to serve as a no-cost, faculty-customizable primary text for one-semester undergraduate introductory business courses. It covers the following topics in business: Teamwork; economics; ethics; entrepreneurship; business ownership, management, and leadership; organizational structures and operations management; human resources and motivating employees; managing in labor union contexts; marketing and pricing strategy; hospitality and tourism, accounting and finance, personal finances, and technology in business. The textbook was designed for use in Virginia Tech’s Pamplin College of Business introductory level business course, MGT1104 Foundations of Business and is shared under a Creative Commons Attribution Non-Commercial ShareAlike 4.0 license (CC BY NC-SA 4.0).
Instructors reviewing, adopting, or adapting this textbook are asked to please help us understand your use of the material by filling out this formhttp://bit.ly/business-interest.
Virginia Tech Publishing and the Pamplin College of Business are pleased to announce the publication of Fundamentals of Business, third edition. This peer-reviewed open textbook is free to read and download online. Print editions are also available via print-on-demand. Fundamentals of Business, third edition is the required textbook for Virginia Tech’s MGT 1104 Foundations of Business course. This introductory course is required for all graduates of Pamplin College of Business and averages 1,650-1,700 students annually. Pamplin’s choice to use an open educational resource keeps student textbook costs for this course at zero. Fundamentals of Business, third edition is released under a Creative Commons license, and may be customized and redistributed non-commercially with attribution.
Downloaded over 1.5 million times worldwide (excluding Virginia Tech downloads), the first and second editions of this book have been adopted by over 100 institutions beyond Virginia Tech. Multiple instititutions report customizing the content to fit their needs, for example producing this Canadian edition. Over fifty institutions benefit from the 4VA-funded faculty-only testbank collaboratively developed during a Virginia Tech-hosted 2019 test bank sprint in response to user requests.
Ron Poff, Assistant Professor of Practice in Management, and his team provided updates to this third edition. The 2020 team included Poff, course instructor Lisa Fournier, editorial assistant and recent Pamplin graduate Kathleen (Katie) Manning, design specialist Kindred Grey, Assistant Director of Open Education and managing editor Anita Walz, plus copyeditors Grace Baggett and Lauren Holt, and production manager Robert Browder. Poff and colleagues built on the work of Stephen Skripak, Anastasia Cortes, Anita Walz, Richard Parsons, Gary Walton, and Corinne Guimont, all of whom contributed to the development of previous editions.
Virginia Tech’s first and second adaptations of Fundamentals of Business were published in 2016 and 2018. These editions were adapted from an existing openly licensed textbook with significant revision and addition of new material to ensure an excellent fit for the Foundations of Business at Virginia Tech. The 2020 team researched, redesigned, and contributed new content to update the learning resource.