Chapter 4: Ethics and Social Responsibility - McGraw-Hill Introduction to Business

Tech Giants Attempt to Break into Banking

November 15, 2019

This week, Google announced that it’s launching a banking service next year that will offer “smart checking” accounts to mobile-focused customers. Known as Cache, the program is the result of a collaboration between the search giant and two banks: Citigroup and Stanford Credit Union. Although details of the partnership remain limited at this time, Google eventually wants Cache to become an extension of its Google Pay app. The company also claims that customers will “benefit from useful insights and budgeting Continue reading →

Self-Ordering Kiosks at McDonald’s Lack Cash Capabilities

November 14, 2019

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Earlier this year, McDonald’s spent $300 million acquiring a data analysis and artificial intelligence startup called Dynamic Yield. Along with providing the fast food chain with tons of information about its operations, this new technology will also help the company upgrade its growing fleet of self-ordering kiosks. Customers can place orders on these large touchscreens rather than wait in line, which the company claims improves efficiency and increases sales. As a result, McDonald’s wants to place these machines in as Continue reading →

Food & Drink, Operations Management, Retail, Global, McDonald’s, Ethics, Regulation, Legal, Product Distribution, Cash

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Toilet Paper Startups Challenge Established Brands

November 12, 2019

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Major conglomerates like Procter & Gamble, Kimberly Clark and Georgia-Pacific earn more than $31 billion annually from toilet paper sales. But while this industry is certainly lucrative, it’s not exactly innovative. After all, one of the few significant developments these companies have made in recent decades is to sell larger rolls. Brands such as Charmin and Quilted Northern treat their products like commodities, meaning that they compete primarily based on price. By concentrating on value, the biggest names in toilet Continue reading →

Entrepreneurship, Branding, Manufacturing, Pricing, China, Sustainability, Marketing, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] How Toys ‘R’ Us Went Bankrupt

November 8, 2019

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In 2017 Toys ‘R’ Us filed for bankruptcy under the weight of billions of dollars in debt. Six months later all of the retailer’s stores had closed with their stock liquidated and staff let go without severance. This in-depth video chronicles the rise and fall of this former “category killer,” detailing how the retailer’s bankruptcy changed the toy industry as well as the lives of its former workers.

Questions:

How did the bankruptcy of Toys ‘R’ Us affect its Continue reading →

Airbnb Plans to Verify Each of Its 7 Million Listings

November 7, 2019

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Airbnb has grown into a multi-billion dollar company by providing people with an online platform where they can temporarily rent out their house or apartment to guests. Although this app has changed how millions of people travel, it’s also generated a lot of controversy since launching more than a decade ago. In some popular travel destinations, landlords have displaced longtime residents in order to make room for as many Airbnbs as possible. As a result, cities like London and Barcelona Continue reading →

Marketing, Global, Product Development, Ethics, Tourism, Social Media, Travel, Product Distribution, Crisis management, Reputation, Airbnb

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

GM Workers End Strike after Approving New Contract

October 29, 2019

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In mid-September, nearly 50,000 General Motors employees represented by the United Auto Workers union went on strike after failing to reach an agreement with the company. Staffers walked picket lines for more than a month as they fought for improved wages, benefits, and job security. Then last week the standoff finally ended as the union struck a deal with management that partially gave in to some of the workers’ demands.

For instance, employees are now guaranteed a 3 percent pay Continue reading →

Labor Relations, Cars, Transportation, Management, General Motors, Operations Management, Strikes, Unions, UAW

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 12: Labor Management and Unions

[VIDEO] How American CEOs Got So Rich

October 24, 2019

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This in-depth video explains how stock buybacks work and why they have possibly contributed to rising income inequality over the years. Along with providing a detailed history of this controversial practice, the video also takes a close look at the closing of GM’s factory in Lordstown, Ohio.

Questions:

Do you think lawmakers should pass regulations against corporate stock buybacks? Why or why not?
How did the closing of GM’s Lordstown factory affect the community as a whole?

Ethics, Executive Compensation, Manufacturing, Regulation, Labor Relations, Compensation, Stock Buybacks

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 19: Securities Markets, Bonus Chapter A: Business Law, Videos

PG&E’s Rolling Blackouts Anger and Endanger Californians

October 18, 2019

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At the end of summer, weather-tracking services in California began issuing reports that many in the state have come to dread: extreme winds and dry conditions had increased the risk of wildfires. The previous year had been one of California’s worst due to disasters like the Camp Fire, an enormous blaze that killed more than 80 people and destroyed the town of Paradise. In the aftermath of this tragedy, many blamed the Pacific Gas and Electric Company (PG&E) for failing Continue reading →

Crisis management, Operations Management, Utilities, Ethics, Reputation, Regulation, California

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Bonus Chapter A: Business Law

McDonald’s Now Accepts Job Applications through Amazon’s Alexa

October 17, 2019

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With nearly 2 million employees on the payroll, McDonald’s is constantly hiring new people to work at its thousands of locations across the globe. So in recent years the fast food giant has streamlined its hiring process to accommodate online applicants, who tend to be younger and applying for their first jobs. Then last month, McDonald’s took this concept to the next level by announcing that people can now apply for jobs using voice commands through Amazon’s Alexa or Google Continue reading →

Alexa, Marketing, Global, Product Development, Ethics, McDonald’s, Human Resources, Hiring, Automation, Internet of Things, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media

New Nerf Toy Doesn’t Fire Knockoff Darts

October 15, 2019

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Each year, the toy brand Nerf earns more than $400 million in revenue by selling bright neon “blasters” that shoot rubber-tipped darts. But while the Hasbro-owned company moves plenty of blasters, it has a little more trouble with the darts. Since Nerf’s foam ammo can be easily copied, consumers often opt for cheaper alternatives rather than pay a premium for Nerf-branded darts. “We’ve had the same dart or similar dart for so many years that it’s become uniformed across our Continue reading →

Toys, Ethics, Intellectual Property, Nerf, Product Development, Entertainment, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media