Chapter 1: Taking Risks and Making Profits - McGraw-Hill Introduction to Business

[VIDEO] How McDonald’s Crafts Its Country-Exclusive Menus

August 11, 2023

More than 60 percent of McDonald’s sales come from outside the U.S., making foreign markets just as important to Mickey D’s bottom line as its domestic operations. This video looks at how the fast food giant develops items for its global customers, who often enjoy flavors that can’t be found under the Golden Arches anywhere else in the world.

Questions:

Why does McDonald’s develop menu items for specific global markets?
How does “transplanting flavors” from one market to another Continue reading →

Fast food, Food & Drink, Global, Marketing, McDonald’s, Product Development, Product Distribution, Promotions

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Videos

Campbell Soup Spends $2.7 Billion on Pasta Sauce

August 9, 2023

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When Charles Rao first opened a New York City tavern in 1896, there’s no way he could have known his small business would eventually grow into a multi-billion dollar brand. After his family converted the bar into an Italian restaurant, however, Rao’s fame steadily grew throughout the 20th century. In fact, the eatery got so busy during the 1970s that longtime regulars were awarded “table rights” that turned into treasured family heirlooms. For everybody else, though, it became nearly impossible Continue reading →

Branding, Campbell Soup, Entrepreneurship, Food & Drink, Global, Marketing, Product Development, Product Distribution, Supply & Demand

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship

MrBeast Sues Food Delivery Partner for “Low-Quality” Products

August 4, 2023

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The YouTube star Jimmy Donaldson, better known as MrBeast, is the video-sharing platform’s most popular creator, boasting more than 172 million subscribers and counting. Donaldson has parlayed his massive success on YouTube into numerous other businesses, including food brands like the snack line Feastables and MrBeast Burger. He co-founded the latter in 2020 after partnering with Virtual Dining Concepts, a company that specializes in serving food through “ghost kitchens.” These ventures take up residence in the kitchens of established restaurants Continue reading →

[VIDEO] Why Primark Is Thriving As Other Retailers Struggle

August 2, 2023

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Experts estimate that as many as 80,000 American retail stores will close over the next five years as companies like Forever 21, JCPenney, and Neiman Marcus struggle to stay afloat. That’s not the case for the British retailer Primark, however, which has 18 locations in the U.S. with plans for a lot more to come. This video looks at how the company became a multibillion dollar brand in Europe by sticking to brick-and-mortar stores stocked with high quality items at Continue reading →

“Barbenheimer” Bonanza Boosts the Economy

July 28, 2023

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Last weekend, the highly anticipated summer movie Barbie opened in theaters to rave reviews and huge ticket sales, earning $162 million in just a few days. Of course, Barbie wasn’t the only film to make a splash at the box office: the 3-hour long drama Oppenheimer also enjoyed a big weekend with domestic receipts totaling $82.5 million. The success of these two films follows months of viral marketing that made light of the stark differences between sunny and bright Barbie Continue reading →

Advertising, Entertainment, Hollywood, Marketing, Movies, Social Media, Strikes, Unions, Viral marketing, Word of Mouth

Bonus Chapter B: Technology and New Media, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits

Domestic Production Sets Bath & Body Works Apart

July 26, 2023

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Making a $7.95 bottle of soap for Bath & Body Works (BBW) once took three months to accomplish. Parts traveled more than 13,000 miles across multiple countries to end up at the company’s Ohio distribution center, a difficult journey that the beauty brand sought to change in 2008. Years of working with local officials and skeptical suppliers resulted in BBW’s “beauty park” located outside of Columbus, an industrial campus that handles nearly every aspect of production. Featuring 10 manufacturers with Continue reading →

Global, Management, Manufacturing, Operations Management, Product Development, Product Distribution, Supply & Demand, Supply chains

Chapter 11: Human Resource Management, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management

[VIDEO] How Economists Use Working Hours as a Recession Indicator

July 21, 2023

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American companies have been hiring lots of new employees this year, making economists hopeful that the country will not experience a recession anytime soon. Still, other experts claim that increased hiring is not as reliable of an economic indicator as some think. The video below explains how total working hours can provide a more detailed picture of the country’s economic health and why fears of an incoming recession could be justified.

Questions:

How do economists use “hours worked” as Continue reading →

Compensation, Economics, Human Resources, Labor Relations, Operations Management, Recession

Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Videos

Hollywood Actors Join Writers on Strike

July 19, 2023

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At the beginning of May, the Writers Guild of America (WGA) voted to strike against major Hollywood studios, citing poor working conditions and declining pay as the primary causes of the work stoppage. Although the union does not appear to be any closer to signing a new deal than they were months ago, members of the WGA have recently seen their picket lines become stocked with new faces, some of which are quite famous. That’s because last week the Screen Continue reading →

[VIDEO] How Tabasco Fills Up To 700,000 Bottles A Day

July 14, 2023

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Since 1868, Tabasco has produced hot sauce by aging a spicy mash of peppers, vinegar, and salt in oak barrels for five years. The video below shows how the company makes this iconic condiment through a combination of time-tested methods and modern assembly line efficiency.

Questions:

Why does Tabasco still depend on using old bourbon barrels to create its hot sauce?
Do you think Tabasco should relocate its Avery Island facilities in favor of a place that is more Continue reading →

Agriculture, Food & Drink, Global, Manufacturing, Operations Management, Product Development, Product Distribution, Tabasco

Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Videos

Bank of America Fined $150 Million by Federal Regulators

July 12, 2023

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According to consumer watchdogs, for years Bank of America charged customers a variety of “junk fees” while also mishandling accounts. Not only did the financial giant withhold perks that were promised to some credit card holders, but it also double-charged overdraft fees and secretly opened cards in customers’ names without their knowledge. As a result, Bank of America received a $150 million fine from the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau (CFPB), which Continue reading →

Bank of America, Banking, Consumer Financial Protection Bureau, Ethics, Fraud, Regulation

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