Announcing open textbook Fundamentals of Business, third edition

Cover of Fundamentals of Business 3rd editionVirginia 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. 

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The book, licensed CC BY NC SA 4.0 is available in accessible HTML and interactive quizzing on the Pressbooks platform, in PDF, ePub, Mobi, ODT, and XML formats. Print on demand is also available at the manufacturer’s cost in color, and black and white. The third edition includes data updates, graphic redesign over 70 figures, updated content to reflect changes in technology, law, and economics, and inclusion of company examples more familiar to today’s students. The book includes images of people that are more representative of a diverse student body. The book’s publication on the University Libraries’ Pressbooks platform and through LibreTexts remix system enables customization and localization to fit various audiences.

This project was supported in part through by the University Libraries’ Open Education Initiative Faculty Grants program, Virginia Tech Publishing, and Pamplin College of Business at Virginia Tech.

Instructors evaluating, adopting, or customizing this book are asked to complete the following form: http://bit.ly/business-interest.

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About Anita Walz

I am the Assistant Director for Open Education and Scholarly Communication Librarian and Associate Professor at the University Libraries at Virginia Tech. I work with students, staff, faculty, and administrators and on a national level to inspire faculty to choose, adapt, and create learning resources which are more accessible to students. I am also the library's liaison for Economics and Legal Studies. My work experience includes over 15 years in international, government, and academic libraries. My research interests include: economics of higher education, library involvement in open educational resource initiatives, library publishing, and effective teaching practices for college-age and adult learners.
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