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

Consumers Accuse Businesses of Price Gouging during Harvey

September 5, 2017

Since Hurricane Harvey made landfall in Texas a couple of weeks ago, the region has been hit with devastating floods that have upended the lives of millions. And although the waters are finally starting to recede in cities like Houston, that just means the serious cleanup work is about to begin. The financial forecasting firm Moody’s Analytics now estimates that Harvey inflicted as much as $108 billion in damage to the region. Thankfully, dedicated volunteers have been working around the Continue reading →

Supply chains, Legal, Product Distribution, Ethics, Natural Disasters, Hurricane Harvey, Price-Gouging, Pricing, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 15: Distribution

Estimating the Economic Impact of Hurricane Harvey

August 29, 2017

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Over the weekend Hurricane Harvey landed in South Texas and began a cycle of major flooding that overwhelmed residents and emergency services. With thousands of people remaining in Houston and its surrounding communities during the storm, first responders spent a lot of time bravely searching for victims and pulling them out of the water. Media outlets then broadcast some of these stories to a shocked American public, leading to an outpouring of support and donations. (Click here for information on Continue reading →

Risk Management, Hurricane Harvey, Hurricanes, Operations Management, Ethics, Natural Disasters

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Bonus Chapter C: Managing Risk

Lawsuit Targets Poland Spring for False Advertising

August 24, 2017

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Last year beverage companies sold $16 billion worth of bottled water, a 10 percent increase from 2016. The drink is even more popular than soda, but it certainly isn’t a hit with everyone. Along with being a frequent target for environmentalists, critics have also accused companies of lying about the origin of the water in their bottles. In fact, that’s the basis of a class action lawsuit recently filed against Nestle’s Poland Spring brand.

According to the complaint, “Not Continue reading →

Food, Nestle, Bottled Water, False Advertising, Regulation, Packaging, FDA

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law

Bitcoin Users Become Targets for Hackers

August 22, 2017

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When Bitcoin launched in 2008, a single unit of the mysterious cryptocurrency was worth just a little more than half a cent. Bitcoin’s value remained under a dollar for years afterward, leading many to wonder why anyone would invest in a strange new currency that couldn’t be controlled by any government or company. Besides being seemingly worthless, Bitcoin also operated through a decentralized network of computers whose owner was impossible to verify. This anonymity extended to Bitcoin’s users as well, Continue reading →

Innovation, Currency, Security, Smartphones, Ethics, Mobile, Cyberattack, Bitcoin

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media

[VIDEO] The Death and Life of Helicopter Commuting

August 18, 2017

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Instead of waiting in traffic, what if you could hop in a helicopter and commute to work in a matter of minutes? For a brief period in the 1970s people could do just that on New York Airways, a helicopter shuttle service that ferried folks around the city for as little as $5. Although a tragic accident quickly put an end to the industry, this video shows how advancements in technology could possibly allow helicopter shuttle companies to make a Continue reading →

Product Development, Transportation, Drones, New York City, Ethics, Commuting

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media, Videos

Crocs Loses Big in Patent Case

August 15, 2017

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Whether you love them or hate them, the foam clogs made by the Colorado-based Crocs are certainly distinctive. They can’t be called “unique,” however, at least according to the U.S. Patent and Trademark Office. A recent ruling from the government agency rejected the patent that Crocs has held on its signature shoes since 2006. Apparently another party had registered a similar design a year before, thus invalidating the original trademark.

The Patent Office’s decision may finally bring an end Continue reading →

Copyright, Legal, Trademark, Patent, Crocs, Ethics, Footwear, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter A: Business Law

[VIDEO] Stress Test: What Is Bank Capital?

August 4, 2017

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Since the passage of the Dodd-Frank financial reform act, banks have been required to keep a certain amount of cash on hand relative to their assets. Legislators put the rule in place so that institutions would have enough money in their vaults to bail themselves out in the event of another credit crisis. This video explains the concept of bank capital and why these regulations have caused some frustration in the finance industry.

Questions:

Why are banks required to keep Continue reading →

Finance, Regulation, Economics, Dodd-Frank, Capital, Banking

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Videos

Big Companies Start to Leave the Suburbs

August 3, 2017

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Over the course of four decades, more than 80,000 people have learned how to become McDonald’s managers on the the leafy grounds of Hamburger University. The company long considered this 86-acre Oak Brook, Illinois, institution to be the perfect place to train employees while also attracting top-level executives. Then last year McDonald’s surprised staff by announcing the company would move its headquarters out of the suburbs and into the West Loop of Chicago.

Located near an “L” train stop and Continue reading →

Motivation, Headquarters, Caterpillar, Innovation, McDonald’s, Hiring, Management, Illinois

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 11: Human Resource Management, Bonus Chapter B: Technology and New Media

Wedding Dress Company’s Closing Causes Brides to Panic

July 24, 2017

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From now until the end of October, wedding season will be in full swing in the U.S. All over the country thousands of engaged couples are either ready to tie the knot or caught deep in the throes of the planning process. Of course, anyone who has taken part in a wedding knows just how agonizing they can be to organize. Whether it’s last minute cancellations from guests or caterers who can’t find the venue, weddings have a unique way Continue reading →

Legal, Product Distribution, Bankruptcy, Management, Weddings, Ethics, Alfred Angelo Bridal, Liquidation

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 15: Distribution, Bonus Chapter A: Business Law

Musicians Pile Pressure on YouTube for Streaming Revenue

July 20, 2017

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As sales from CDs and digital downloads continue to decline, streaming platforms like Spotify and Apple Music have become vital to the $7.7 billion music industry. Still, there’s one major streaming service that both executives and musicians alike have long despised. While it’s mostly known for video, YouTube accounts for 25 percent of all music streamed across the globe. This makes it by far the most popular streaming site among fans, a fact that industry insiders find increasingly troubling.

Services Continue reading →

Entertainment, Ethics, Pricing, Streaming, Music, Spotify, YouTube, Product Development, Copyright

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media