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

Retail Sales Plummet with Worst Monthly Loss on Record

April 16, 2020

With thousands of stores closed around the country, U.S. retailers saw sales plunge by 8.7 percent in March. That represents the worst monthly decline on record as millions of consumers stopped visiting restaurants, bars, and shopping malls due to stay-at-home orders for coronavirus containment. While sales of cars, furniture, and electronics all experienced double digit drops, spending at clothing stores plummeted by more than 50 percent. Manufacturing capacity and oil production also fell to their lowest rates since the end Continue reading →

Spread of Coronavirus Disrupts Food Supply Chains

April 14, 2020

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Last week, we looked at how dairy and egg suppliers that primarily work with restaurants are struggling to adapt to a radically changed business environment. And while food companies that service supermarkets are better equipped to deal with the current crisis, many suppliers are now facing labor shortages as an increasing number of employees fall ill with coronavirus. Experts predict that the nation’s food supply chains will be disrupted in the coming weeks, potentially resulting in local shortages of certain Continue reading →

Regulation, Supply chains, Health, Operations Management, Product Distribution, Ethics, Food & Drink, Supply & Demand, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law

Farmers Dump Milk and Eggs as Restaurant Demand Falls

April 10, 2020

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Over the last few weeks, shoppers at supermarkets across the country have stocked up on versatile staples like milk, bread, and eggs that are well-suited for hunkering at home. But as many meat and dairy producers ramp up production to satisfy this increasing demand, food companies that serve clients like restaurants and schools are drastically scaling back. With many eating establishments now closed or take-out only due to coronavirus containment, food suppliers have seen demand for their services plummet. As Continue reading →

Economics, Regulation, Operations Management, Packaging, Ethics, Health, Product Distribution, Supply & Demand, Coronavirus, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Nearly a Third of Renters Have Not Paid This Month’s Rent

April 9, 2020

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This morning, the U.S. Department of Labor announced that another 6.6 million Americans filed for unemployment benefits last week. All told, almost 17 million people have applied for jobless aid in the past three weeks, accounting for 10 percent of the U.S. labor force. The sudden loss of so many jobs is staggering and unprecedented. For comparison, it took two years for 8.6 million people to lose their jobs during the Great Recession. Many analysts predict that the unemployment rate Continue reading →

Labor Relations, Unemployment, Economics, Ethics, Regulation, Human Resources, Health, Real Estate, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Small Businesses Have Trouble Securing Vital Loans

April 7, 2020

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The ongoing coronavirus pandemic has caused countless restaurants and stores across the country to alter their services or close entirely, some for as long as a month so far. This stretch of downtime has been devastating for many small businesses that usually get by on week-to-week sales. At Old Town Pizza & Brewing in Portland, Oregon, owner Adam Milne had to lay off two-thirds of his staff as the brewpub transitioned into carry-out only service. In the process he racked Continue reading →

Startups Hit Hard By Coronavirus Shutdowns

April 3, 2020

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Earlier this year, we looked at how the fitness startup ClassPass grew into a $1 billion company thanks to an innovative business model that allows members to easily find exercise classes in their area. Flash forward just a few months later, however, and ClassPass finds itself in a completely different position due to widespread shutdowns caused by coronavirus containment. As gyms and fitness centers closed across the world in March, ClassPass watched as 95 percent of its revenue disappeared within Continue reading →

[VIDEO] A Breakdown of the $2 Trillion Stimulus Package

April 2, 2020

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After a long debate, last week legislators finally approved and signed into law a $2 trillion stimulus package that provides much needed economic relief during this unprecedented health crisis. The video below looks at how the money will be allocated to companies and the logistics behind expanded unemployment benefits as well as a $1,200 stimulus payment to American adults.

Questions:

What sort of restrictions does the stimulus package place upon companies that accept government relief?
Do you think this Continue reading →

Economics, Regulation, Ethics, Health, Human Resources, Labor Relations, Crisis management, Layoffs, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law, Videos

Streaming Platforms See Boost in Viewership But Not Ad Revenue

March 31, 2020

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With movie theaters closed across the country due to coronavirus containment, millions of Americans are streaming video in order to stay entertained. According to analysts, the time spent watching streaming video has steadily increased every week since stay-at-home orders went in place earlier in the month. During a seven-day period in mid-March, viewing sessions on Vizio’s smart TV platform rose by a whopping 40 percent over the previous week. “We’re not just seeing more time spent with streaming and TV, Continue reading →

Promotions, Marketing, Entertainment, Operations Management, Streaming, Television, Advertising, Health, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Movie Studios Offer New Titles On-Demand for Homebound Viewers

March 27, 2020

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With movie theaters across the world closed due to coronavirus containment, experts predict that the global film industry could lose as much as $15 billion this year. China shuttered more than 60,000 theaters in January right before the annual Lunar New Year holidays, a boom period that usually brings in $2 billion in box office sales. Meanwhile in the U.S., AMC Theatres recently announced that it has furloughed its CEO and corporate staff after the company closed more than 1,000 Continue reading →

3.3 Million Americans Applied for Unemployment Last Week

March 26, 2020

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After the federal government placed a ban on gatherings of ten or more people last Monday, restaurants and bars across the country either closed or drastically altered their operations. Although such measures are necessary to contain the spread of coronavirus, countless businesses have had to furlough workers or lay them off entirely as a result. In fact, statistics released by the Labor Department this morning found that a record 3.3 million Americans applied to receive unemployment benefits last week.

That Continue reading →

Regulation, Ethics, Health, Human Resources, Coronavirus, Labor Relations, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law