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

[VIDEO] The Fall (and Rise?) of Unions in the U.S.

August 12, 2022

Thousands of workers at Amazon warehouses and Starbucks stores across the country have voted to unionize in recent months, potentially reversing decades of declining union membership in the U.S. This video takes a close look at the history of unions in postwar America, examining the reasons why service industries largely stayed unorganized and how that could change in the coming years.

Questions:

Why did union membership start to decline in the 1970s and 1980s?
Do you think U.S. legislators Continue reading →

Compensation, Motivation, Global, Ethics, Human Resources, Manufacturing, Unions, Labor Relations

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Videos

The Dollar Soars as Global Currencies Struggle

July 22, 2022

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The U.S. dollar is the world’s most important currency, serving as one side of 90 percent of all foreign exchange transactions. Before the pandemic, the U.S. dollar accounted for $6 trillion in daily activity as everyone from tourists to multinational corporations depended on this customarily stable currency. After the turmoil of the last few years, however, the dependable dollar has skyrocketed in value to its highest level in 20 years.

The value of the dollar has jumped 10 percent Continue reading →

Federal Reserve, Supply & Demand, Global, Inflation, Ethics, Bonds, Currency

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions

Nonstop Scams Hurt Americans’ Wallets and Mental Health

July 19, 2022

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Do you pick up the phone when you receive a call from an unknown number? Considering that Americans receive an average of 28 spam calls per month, it would be understandable if you just let the phone ring. On top of all those phony calls, smartphone owners also receive an estimated 42 spam texts each month. And once you start receiving these messages, they’re unlikely to stop anytime soon: numbers that end up in spam databases often get sold and Continue reading →

Telemarketing, Federal Trade Commission, Ethics, Regulation, Fraud, Robocalls

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

Pilots Demand Big Changes from Airlines

July 12, 2022

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Since the start of the summer travel season, air carriers have canceled thousands of flights as they grapple with bad weather, high fuel costs, and rampant inflation. Along with these problems, airlines are also encountering increased resistance from one of their most important groups of employees: pilots. Faced with large workloads and an unpredictable post-pandemic environment, pilots are demanding substantial wage increases as well as quality of life benefits from their employers.

According to analysts, airlines are likely to Continue reading →

Human Resources, Supply & Demand, Unions, Airlines, Labor Relations, Pandemic, Motivation, Global, Travel

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions

Thousands of Flights Delayed or Canceled over Holiday Weekend

June 22, 2022

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Americans traveled in droves over the busy Father’s Day and Juneteenth holiday weekend, leading to widespread delays and cancellations at airports despite the best efforts of carriers. All told, airlines canceled more than 5,000 flights over the weekend while almost a third of all arriving flights on Friday were delayed. Travelers experienced similar moments of chaos at airports over Memorial Day weekend, reflecting an industry struggling to return to normal after the pandemic.

According to airlines, poor weather and high Continue reading →

Operations Management, Global, Transportation, Ethics, Travel, Unions, Supply & Demand, Compensation, Airlines, Pandemic

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions

Dropping Stocks Bring Fears of Recession

June 17, 2022

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Yesterday, the S&P 500 dropped more than 3 percent, continuing a long decline for stocks despite investors’ hopes for a rally. This places the index down 24 percent from its previous highs in January, further pushing stocks into bear market territory. Stock markets turn from bulls to bears once they drop more than 20 percent from recent peaks, potentially indicating that the economy is headed towards a recession. In fact, if losses continue at this rate, the S&P could experience Continue reading →

Stock Market, S&P 500, Supply chains, Product Distribution, Securities Markets, Federal Reserve, Ethics, Recession, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 15: Distribution, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions

Fashion Brands Receive Criticism for Depending on Plastic

June 15, 2022

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In recent years, fashion brands and retailers like H&M, Nike, Amazon and Target have responded to consumer calls for environmental sustainability by following an influential material rating system called the Higg Index. Introduced in 2011 by a group of companies led by Walmart and Patagonia, this metric is intended to help businesses shrink their environmental footprints by eliminating toxic chemicals and cutting down on water usage during production. According to critics, however, the Higg Index strongly recommends the use of Continue reading →

Marketing, Clothing, Global, Product Development, Ethics, Fashion, Manufacturing, Regulation, Sustainability

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

[VIDEO] How Inflation Impacts U.S. Households

June 10, 2022

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Over the last year, Americans have seen prices skyrocket for everything from food to fuel, leading to higher bills and strained budgets. This video looks at how inflation has played out across the economy, from increased costs for consumer staples like meat and eggs to rising rents that are a result of low housing supplies.

Questions:

What long term economic factors have led to increased meat prices in recent months?
How has a lack of housing construction since the 2008 Continue reading →

Supply & Demand, Housing, Russia, Supply chains, Operations Management, Energy, Global, Manufacturing, Product Distribution, Petroleum, Ukraine, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Videos

Americans Lose more than $1 Billion to Crypto Scams

June 8, 2022

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Over the last few years cryptocurrency has gone from the fringes of finance to the mainstream, complete with celebrity Super Bowl ads and widespread interest from Wall Street. But while more people know about crypto than ever before, that doesn’t necessarily mean that it’s a safe investment. According to the Federal Trade Commission (FTC), Americans have lost more than $1 billion to cryptocurrency scams since the beginning of last year. In fact, crypto con jobs now account for a fourth Continue reading →

Currency, Regulation, Money, Fraud, Cryptocurrency, Ethics

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

Baby Formula Shortage Could Continue for Months

May 31, 2022

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Since the beginning of the year, parents around the country have struggled to obtain baby formula due to a nationwide shortage. Although Covid-related supply chain snags have contributed to the problem, matters became considerably worse once the formula manufacturer Abbott Laboratories instituted a recall in May. The company produces brands like Similac at its plant in Sturgis, Michigan, which shut down following the recall. Consumers filed formal complaints with the Food & Drug Administration (FDA) about infant illnesses, leading to Continue reading →

Regulation, Operations Management, FDA, Global, Food & Drink, Ethics, Supply & Demand, Manufacturing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution