The second edition of this text provides an introduction to business functions, issues and activities and to the way they interact with their environment. It is the core text for the Business In Context Series which serves as a stand-alone introduction to business studies as well as a description and analysis of the common business model on which all books in the series are based. The model provides a framework for coherent analysis, the interplay and relationships within business and its environment, and is reinforced with many up-to-date topical examples. This book should be of interest to all introductory business and management courses.