Ethics - McGraw-Hill Introduction to Business

Chipotle Encounters Setbacks on Its Road to Recovery

October 26, 2017

In 2015 the popular burrito chain Chipotle faced a crisis so large that some wondered if the company would ever recover. Towards the end of the year, stories about norovirus outbreaks originating from Chipotle restaurants became national news. People were shocked to learn how this supposedly safe and sustainable place to eat had poisoned hundreds of people with tainted produce. Soon Chipotle’s stock price dropped and its sales plummeted, leading many in the company to worry that its reputation Continue reading →

Product Development, Branding, Chipotle, Management, Natural Disasters, Ethics, Food

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Uncategorized

New Rules Seek to Limit the Power of Payday Lenders

October 10, 2017

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Each year some 12 million Americans take out a payday loan in order to get cash fast. But just because these borrowers can receive a quick injection of capital doesn’t mean they can pay it back with comparable speed. Many people who take out a payday loan end up drowning in a flood of loan fees and high interest rates. Last year alone the industry collected more than $7 billion in fees from customers. Borrowers can become so overwhelmed by Continue reading →

Financing, Ethics, Payday loans, CFPB, Product Development, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 18: Financial Management, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Hurricane Maria Deals Major Damage to Puerto Rico

September 28, 2017

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Over the last month hurricanes have torn through America’s southern coast, inflicting massive amounts of damage to Texas, Florida, and other states in the region. Of course, the U.S. mainland is far from the only place that’s been harmed by these major weather emergencies. Along with devastating Caribbean islands like Barbados and Barbuda, recent tropical storms have also hammered the American territory of Puerto Rico. First it had to endure Hurricane Irma, which only clipped the island’s northern portion Continue reading →

Puerto Rico, Ethics, Natural Disasters, Risk Management, Hurricanes, Hurricane Maria

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Cyberattack on Equifax Leaves 143 Million Consumers Compromised

September 8, 2017

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Yesterday the credit reporting company Equifax announced that hackers had breached their security systems and stolen personal information from 143 million customers. Along with names and birthdates, the hackers also obtained social security and driver’s license numbers. These pieces of data are basically gold to identity thieves, allowing them to make purchases, borrow money and more all under the victim’s name. “This is about as bad as it gets,” said World Privacy Forum executive director Pamela Dixon. “If you have Continue reading →

Credit, Personal Finance, Ethics, Security, Yahoo, Cyberattack, Equifax

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter B: Technology and New Media, Bonus Chapter D: Personal Finance

Wells Fargo Faces More Claims of Employee Fraud

September 7, 2017

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Last year we took a close look at how Wells Fargo fostered a culture of fraud that encouraged employees to open unauthorized credit and debit card accounts for customers. Investigators at the time estimated the bank had created more than 1.5 million fraudulent accounts, leading Wells Fargo to fire thousands of employees. Further inquiries from Congress also caused the company to replace managers and roll back executive pay as part of an overhaul of its retail division. The scandal Continue reading →

Banking, Regulation, Fraud, Wells Fargo, Ethics, Consumer Financial Protection Bureau

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 18: Financial Management, Bonus Chapter A: Business Law

Consumers Accuse Businesses of Price Gouging during Harvey

September 5, 2017

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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 →

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

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 →

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

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

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 →

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

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 →

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

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