If you are an instructor reviewing, adopting, or adapting this textbook, please inform us at

Purpose of This Book

Fundamentals of Business, 3rd edition is intended to serve as a no-cost, instructor-customizable primary text for one-semester undergraduate introductory business courses. It serves as the primary text for Virginia Tech’s MGT 1104 Foundations of Business, a required, introductory level course which builds the foundational structure for all business majors at Virginia Tech. MGT 1104 is part of Virginia Tech’s First-Year Experience program and serves as an elective for students exploring majors in business.

Target Audience

This book has also been adopted at over 100 colleges and universities!  Fundamentals of Business, 3rd edition is intended for a wide range of undergraduate business students including those majoring or considering majors in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism.


This text enables undergraduate students’ exploration of their chosen or prospective major in business, and introduces them to new ideas and concepts, career possibilities, and real-world examples. The text covers most if not all functions of business including: 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, and personal finances.


  • Example-rich narrative
  • Updated graphic elements which illustrate and reinforce concepts
  • Interactive self-test quizzes with feedback
  • Section-level videos and key takeaways
  • Linked end of section references for additional reading
  • Embedded navigation and image alt-text for screen readers
  • Free online, PDF, ePub, Mobi, ODF, XML, and in print at vendor cost of production
  • Open license, Creative Commons BY NC-SA 3.0 permits customization and sharing

Instructor Resources

  • Instructor community portal for sharing of ancillary resources
  • Interest form allows instructors to opt in to receive book updates
  • Errata and report-an-error/share-a-suggestion forms promote currency
  • Test bank available to instructors upon request

See the Instructor Resource section for further information.

Attribution and Scope of Revision

This textbook is an update of the 2nd edition of Fundamentals of Business (2018), an openly licensed text published by the Pamplin College of Business in association with Virginia Tech Publishing. The 3rd edition uses the same structure as the 2nd (2018) edition with the following overall changes:

  • Updated content reflects changes in technology, law, and economics;
  • Examples include companies more familiar to today’s students;
  • Data is updated to reflect the most recently available;
  • Refreshed color palette, graphic elements, and modernization of photos
  • Emphasis on diversity

A detailed list of changes by chapter is available in the Version Notes at the back of the book. Attribution details are available in the Acknowledgments section later in the front of the book.


Our hope for this textbook is that it will engage students who are learning about business. Also, it is hoped that instructors in other colleges and universities will appreciate this text, adopt it for their students, and adapt and share it, thus providing a student textbook solution at no cost. If you are an instructor reviewing, adopting, or adapting this textbook, please inform us at


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Fundamentals of Business, 3rd edition Copyright © 2020 by Stephen J. Skripak and Ron Poff is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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