NickelsMcHughMcHugh - McGraw-Hill Introduction to Business

Tech Transitions from Smartphones to Smart-Everything

January 22, 2016

When Apple launched the iPhone in 2007, the revolutionary smartphone was instantly heralded as the future of mobile technology. The public and media only got more excited as the years went by and the device’s hardware improved with each subsequent generation. Over the last couple of years, however, the hubbub surrounding each new iPhone’s launch has died down significantly. After all, smartphones have been around for nearly a decade, making people so familiar with them that the incremental improvements made Continue reading →

Innovation, Smartphones, Tech, Apps, iPhone

Chapter 1: Taking Risks and Making Profits, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Texas Plumber Sues Dealership for Shocking Truck Mix-up

January 20, 2016

NickelsMcHughMcHugh

Last year we featured a post about the unfortunate case of Texas plumber Mark Oberholtzer. In need of a better truck for his business, he took his old Ford F-250 to a local dealership and traded it in for a newer model. The plumber didn’t give the transaction a second thought until about a year later when the complaints started rolling in. Due to the extraordinarily complicated nature of the global auto resale market, Oberholtzer’s truck somehow ended up in Continue reading →

Global, Ethics, Texas, Distribution, Cars, Supply chains, Transportation, Middle East

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law, Bonus Chapter C: Managing Risk

[VIDEO] The Rocky Revival of Vinyl Records

January 19, 2016

NickelsMcHughMcHugh

Although vinyl records sales are higher than they have been in decades, companies are having trouble meeting demand due to their reliance on old, antiquated machinery.

https://youtu.be/mHJQJbrvOd0

Questions:

Will demand for vinyl records drop if companies fail to maintain a steady supply?
With music and movie streaming sites now commonplace, do vinyl records and other forms of physical media have a long term future?

From The New York Times

Economics, Manufacturing, Entertainment, Music, Vinyl, Production, Developing Products

Videos

Black Friday Starts to Fizzle

January 18, 2016

NickelsMcHughMcHugh

For years the post-Thanksgiving shopping bonanza known as Black Friday commanded the attention of the nation. Even if people didn’t leave the comfort of their couches, they likely watched in awe as a procession of news reports detailed the long lines forming outside of stores and the chaos that ensued when they opened. But these once standard scenes of retail madness are becoming increasingly rare. Although Americans’ love affair with holiday shopping shows no sign of stopping, customers may have Continue reading →

Marketing, Promotions, Retail, Gimmicks, RadioShack, Black Friday

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] What Happens When You Win the Lottery?

January 14, 2016

NickelsMcHughMcHugh

This short video shows what happens to a person’s money in the very, very unlikely event that they win the lottery.

Questions:

As the video says, you’re more likely to be struck by lightning than win the lottery, so why do people play it?
Which option ensures that a lotto winner gets the most money from their prize: the cash payout or the annuity jackpot?

From CNN Money

Ethics, Money, Lottery, Banks, Interest

Videos

How Jingle Punks Put Everything to Music

August 3, 2015

NickelsMcHughMcHugh

For those who don’t have a feline friend of their own, any advertisement for cat food they encounter will probably fall under the radar. That is unless the words “Meow Mix” happen to enter their ears. According to a 2011 survey conducted by the company, more people knew the melody to Meow Mix’s iconic 1970s jingle than the national anthem. This fact is even more incredible considering that the company hadn’t run an ad with the tune since 1996. Throughout Continue reading →

Marketing, Branding, Promotions, Entertainment, Music, Jingle Punks, Meow Mix

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Trading Pits Become a Thing of the Past

July 30, 2015

NickelsMcHughMcHugh

Trading commodities is a complicated business. Employees in the industry not only have to possess financial intelligence, they also must be able to seemingly predict the future based solely on projections and estimates. For years traders like these thrived in the “pits” of Chicago and New York’s stock exchanges, shouting about everything from livestock to produce as they searched for deals. These financial foot soldiers eventually became pop culture icons, with frantically yelling floor traders appearing in everything from serious Continue reading →

Human Resources, Innovation, Finance, Product Distribution, Wall Street

Chapter 2: Economics, Chapter 10: Motivation, Chapter 17: Accounting, Chapter 19: Securities Markets

America: The No Vacation Nation

July 23, 2015

NickelsMcHughMcHugh

What do the United States of America, the Federated States of Micronesia and the Kingdom of Tonga all have in common? Aside from being decidedly long-named nations, none of these three countries requires employers to provide their staff with time off for holidays or vacation. In fact, the U.S. is the only advanced economy in the entire world without such a requirement. As a result, American workers have seen their vacation time shrink from an annual average of 20.3 days Continue reading →

Global, Ethics, Human Resources, Benefits, Retail, Vacation, H&M

Chapter 4: Ethics and Social Responsibility, Chapter 10: Motivation, Chapter 11: Human Resource Management

Zappos Goes Bossless

July 11, 2015

NickelsMcHughMcHugh

The online shoe retailer Zappos has always set out to be an innovative employer as well as a successful business. Along with quality benefits and perks, CEO Tony Hsieh grants his staff the freedom to do their jobs according to their terms. In fact, recently the Zappos boss put a radical new corporate structure into place that eliminates all traditional managers or job titles. Instead of a traditional hierarchy, employees now work in “circles” that encourage more collaboration and agility. Continue reading →

Management, Human Resources, Labor Relations, Benefits, Innovation, Zappos

Chapter 5: Forms of Business Ownership, Chapter 8: Organizational Culture and Structure, Chapter 10: Motivation, Chapter 11: Human Resource Management

Target’s Wildly Popular Lilly Pulitzer Promotion

July 3, 2015

NickelsMcHughMcHugh

Modern retailers stock so many items that consumers can usually buy whatever products they want whenever they want them. Still, a number of companies utilize limited-run sales and exclusive partnerships with brands in order to generate buzz about their business. Target is one of the biggest users of this strategy, teaming up with more than 150 companies in one-off joint ventures since 1999. The retailer’s latest gimmick sale brought them together with the clothing and lifestyle brand Lily Pulitzer, a Continue reading →

Marketing, Branding, Promotions, Retail, Gimmicks, Target, Lilly Pulitzer

Chapter 1: Taking Risks and Making Profits, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion