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

Chipotle Fined $1.3 Million for Child Labor Violations

February 4, 2020

The national unemployment rate is currently at 3.5 percent, its lowest point in decades. As a result, retailers and restaurant chains across the country are having a difficult time finding workers to fill low-wage positions. “Understaffing is a massive problem,” said Jonathan Maze, executive editor of Restaurant Business Magazine. “You have companies that are stressed to try to fill hours and keep people on, and it can lead to violations.”

According to a recent ruling from a Massachusetts court, Continue reading →

Ethics, Regulation, Franchising, Legal, Human Resources, Food & Drink, Labor Relations, Chipotle

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Coronavirus Outbreak Could Have Major Economic Impact

January 31, 2020

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Last week, the world learned that a deadly, fast-moving disease called the coronavirus had appeared in several Chinese cities. The mysterious illness has already killed more than a hundred people and infected thousands more, leading the World Health Organization to declare the coronavirus a global health emergency. Despite its potentially worldwide implications, though, right now the disease is primarily localized in China. Along with placing entire cities on quarantine, Chinese authorities have also extended the annual Lunar New Year holiday Continue reading →

Manufacturing, Operations Management, China, Global, Health, Ethics, Crisis management, Human Resources, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management

Food Delivery Services Anger Unsuspecting Restaurants

January 30, 2020

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Last weekend during a busy dinner service, San Francisco restaurant owner Pim Techamuanvivit received a strange phone call. The caller wanted to know when the delivery he ordered through Seamless would turn up since he had already waited 45 minutes for it. “I think you must be confused, because I don’t do delivery,” replied Techamuanvivit. The frustrated person on the other line then asked why her business was listed on Seamless. Upon further investigation, Techamuanvivit discovered that both Seamless and Continue reading →

Operations Management, Legal, Ethics, Product Distribution, Entrepreneurship, California, Food & Drink, Grubhub, Seamless, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

ClassPass Grows into $1 Billion Company

January 28, 2020

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In 2013 the fitness startup ClassPass launched as a way to help gyms and workout studios fill open spaces in exercise classes. Through the ClassPass app, users can browse a list of available classes in their area and book times that fit within their schedule. They also don’t need to sign up for a variety of different gym memberships since ClassPass now partners with more than 30,000 fitness centers in 28 countries. The company’s growing global reach has attracted interest Continue reading →

Pricing, Marketing, Venture Capital, Global, Startups, Entrepreneurship, Unicorn, Fitness, ClassPass

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 18: Financial Management, Bonus Chapter B: Technology and New Media

[VIDEO] Nike’s Vaporfly Running Shoe Causes Controversy

January 24, 2020

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Last year, the Kenyan long-distance runner Eliud Kipchoge completed a marathon in under two hours, a feat that was once thought to be impossible. But along with his considerable athletic skills, Kipchoge also had help from a revolutionary new product: Nike’s Vaporfly running shoes. This video takes a look at the sudden dominance of the Vaporfly and how regulators could possibly ban the shoe if it proves to give runners too much of an advantage.

Questions:

Do you think Nike Continue reading →

Product Development, Sports, Marketing, Regulation, Global, Nike, Ethics, Footwear

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter A: Business Law

New York Grocery Chain Fairway Files for Bankruptcy

January 23, 2020

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In 1933 Nathan Glickberg opened a fruit and vegetable stand in Manhattan before eventually moving into a nearby storefront. His grandson Howie expanded the store in the 1970s, adding more groceries and specialty items as well as a new name: Fairway. In the years since, the store became a staple for many New Yorkers drawn by Fairway’s low prices and wide selection of quality products. Then in the early 2000s a private equity firm bought a controlling stake in the Continue reading →

Forms of Ownership, Private Equity, Branding, Retail, Amazon, Marketing, Product Distribution, Ethics, Bankruptcy, New York, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter A: Business Law

More than 1,600 CEOs Left Their Jobs Last Year

January 21, 2020

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For many people in business, reaching the position of chief executive officer (CEO) means that they’ve finally made it to the top of their profession. And life is certainly sweet for most CEOs: Disney’s Bob Iger, for instance, took home nearly $50 million in compensation last year. But with all of that money and power comes great responsibility. If these top managers fail to live up to a company’s expectations, they might not get to enjoy their lofty positions for Continue reading →

CEO, Company Culture, Management, Ethics, Compensation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 8: Organizational Culture and Structure

More than 500 TV And Streaming Shows Aired Last Year

January 17, 2020

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2019 was the year that the so-called “streaming wars” got serious. Disney+ and Apple TV+ launched in an effort to compete against Netflix while established broadcasters like NBC and HBO announced that their streaming services would go live in mid-2020. As the streaming marketplace grew increasingly crowded, industry insiders worried that media companies were offering too much content to consumers. According to research by the cable network FX, these fears could prove to be true: last year a total of Continue reading →

Product Development, Entertainment, Netflix, Streaming, Disney, Marketing, Product Distribution, TV

Chapter 1: Taking Risks and Making Profits, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Dairy Industry Puts Its Hope in Icelandic Yogurt

January 16, 2020

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Earlier this week, we took a look at how the nation’s two largest milk processors filed for bankruptcy due to declining demand and volatile pricing. But fluid milk isn’t the only sector of the dairy market that’s currently struggling. In 2019 U.S. yogurt sales dropped by more than three percent, continuing a downward slide that’s been happening since 2014. The introduction of Greek yogurt gave many hope that this protein-packed snack would save the industry. Unfortunately, though, Greek yogurt’s popularity Continue reading →

Product Development, Food & Drink, Dairy, Marketing, Global

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price

Major Milk Processors File for Bankruptcy

January 14, 2020

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Although milk was a staple of the American diet throughout the 20th century, today’s consumers don’t drink nearly as much of it as they did in the past. In 2018 Americans each drank an average of 146 pounds of fluid milk, a category that includes everything from skim milk to heavy cream. While that’s still quite a lot of dairy, it also represents a 26 percent decrease in consumption since 2000. Along with this declining demand, milk companies have also Continue reading →

Regulation, Marketing, Product Distribution, Manufacturing, Bankruptcy, Commodities, Food & Drink, Vertical integration, Dairy, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law