NickelsMcHughMcHugh - McGraw-Hill Introduction to Business

Vetting Potential Hires with Personality Tests

March 10, 2015

For many companies recruiting new employees, a traditional one-on-one interview only tells part of a potential hire’s story. Some small businesses simply don’t have time to hold deep conversations with interviewees: one family-owned car wash in Kentucky said that it receives more than 1,000 applications each year.

In order to streamline its hiring process, Finish Line Car Wash turned to a personality assessment company called PeopleClues. The service’s 30-minute online test gives applicants a series of statements and then asks Continue reading →

Innovation, Data Mining, Hiring, Human Resources, Labor Relations

Chapter 1: Taking Risks and Making Profits, Chapter 11: Human Resource Management, Bonus Chapter B: Technology and New Media

American CEOs Earn Millions from Retirement

March 6, 2015

NickelsMcHughMcHugh

In 2013 CEO compensation at the nation’s largest companies grew to 204 times higher than the salary of the average worker, a 20 percent increase since 2009. But the enormous wages paid to American executives is far from the only financial perk they receive. Along with inflated salaries, CEOs also enjoy lucrative retirement plans that can see them net tens of millions at the end of their careers.

For instance, Gregg Steinhafel recently stepped down as CEO of Target Continue reading →

Retirement, Management, CEO, Ethics, Target, Human Resources, Compensation, Benefits

Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 8: Organizational Culture and Structure, Chapter 10: Motivation, Chapter 11: Human Resource Management

The New Walmart Wage Plan

March 3, 2015

NickelsMcHughMcHugh

For years, Walmart has been criticized for not adequately sharing its success with its employees. After all, the retailer is not only the largest private employer in the U.S. but also the largest retail chain in the world. With so much capital at its disposal, critics have long argued that Walmart has enough resources to spend on its staff. And now at long last it appears the retailer agrees. Last month Walmart announced a plan that will raise the wages Continue reading →

Retail, Walmart, Minimum Wage, Ethics, Human Resources, Labor Relations, Compensation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 10: Motivation, Chapter 11: Human Resource Management

How to Make an Oscar Statue

March 1, 2015

NickelsMcHughMcHugh

This video shows how one factory handcrafts each Oscar statue before Hollywood’s biggest night.

Questions:

Does R.S. Owens Company use a continuous or intermittent manufacturing process?

What type quality control process does R.S. Owens use in producing Oscars?

From CNN Money

Manufacturing, Product Development, Entertainment, Movies, Academy Awards

Videos

The FCC’s Big Net Neutrality Decision

March 1, 2015

NickelsMcHughMcHugh

Over the last few years, net neutrality has appeared as a subject of debate everywhere from Internet forums to the highest levels of government. As of February 26, 2015 however, the Federal Communications Commission may have ended the discussion once and for all. On that day, the FCC voted to classify Internet providers as public utilities, thus preventing them from extending better service to websites who pay more money. The decision was a victory for the Internet’s many net neutrality Continue reading →

Innovation, Regulation, Product Distribution, FCC, Net Neutrality, Ethics

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

League of Legends’ Profitable World

February 28, 2015

NickelsMcHughMcHugh

This video shows how far some video game companies are willing to go in order to create a one-of-a-kind fan experience.

https://nyti.ms/1xytTH5

Questions:

Why would Riot Games sponsor game competitions at a financial loss to the company?

Are video games such as League of Legends fads or products here to stay?

From The New York Times

Product Development, Sports, Entertainment, Video Games

Videos

The Growing Importance of Hacker Insurance

February 26, 2015

NickelsMcHughMcHugh

The recent hacks of Sony and Home Depot show just how much damage data breaches can do to big businesses. But a company doesn’t have to be multinational in order to attract the eyes of hackers. In fact, experts estimate that 44 percent of small businesses have been the victims of cyber attacks. According to the National Small Business Administration, each breach costs companies an average of $8,700 in damages.

“Cybercrime is in the news all the time, but there’s Continue reading →

Innovation, Security, Small Business, Crime, Insurance, Ethics, Mobile

Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

How GameStop Could Keep Going

February 23, 2015

NickelsMcHughMcHugh

Like many other brick-and-mortar retailers, GameStop’s long-term financial health depends on how much damage the Internet can ultimately do to its bottom line. For years, though, the video game retailer seemed almost immune to the effects of web retail. Prices remained competitive thanks to the company’s dependence on reselling used games and consoles while its knowledgeable sales staff ensured that regular customers stayed happy.

Still, many experts are predicting that GameStop will go the way of Blockbuster sooner or later. Continue reading →

Product Development, Entertainment, Retail, Innovation, Product Distribution, GameStop, Video Games

Chapter 1: Taking Risks and Making Profits, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

The Spotlight Fades on Rockstar Energy

February 19, 2015

NickelsMcHughMcHugh

Even though Rockstar wasn’t the first energy drink to hit the market, it didn’t take long for the brand to make a big impact in a crowded field. Consumers quickly responded to Rockstar’s affordable price and large serving size, which set the brand apart from more exclusive products like Red Bull. During its first six years, revenue at Rockstar soared as high as $405 million while it grew at an average annual rate of 103 percent.

By 2007, however, the Continue reading →

Management, Entrepreneurship, Product Development, Food, Rockstar

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Engineering an Educational Franchise

February 18, 2015

NickelsMcHughMcHugh

For many entrepreneurs, great ideas can come along when least expected. In the case of Dori Roberts, her job as a high school engineering teacher laid the foundation for her million-dollar concept. Over the course of her 11 years in teaching, Roberts noticed that many of her students discovered a love for engineering late in their school careers. She then made it her mission to introduce engineering to kids at a younger age, starting out with an after school bridge-building Continue reading →

Product Development, Education, Childcare, STEM, Franchising, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship