Book excerpt: For undergraduate and graduate courses in Environment of Business, Business and Public Policy, Business and Society, Business and Government, and Business and Public Responsibility. This Fourth edition of the best-selling text brings together in an integrated manner the disciplines of economics, political science, law, and ethics to provide a deeper understanding of the managerial issues that arise in the environment of business. Built around a set of conceptual frameworks for analyzing these issues, the text formulates nonmarket strategies to deal with them, integrates these with market strategies, and provides cases for the application of the conceptual material.