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

Ford Suspends Production of F-150 after Fire at Factory

May 10, 2018

Modern factories depend on high-tech concepts such as automation and computer-aided manufacturing in order to operate as efficiently as possible. Despite these advancements, though, even the most state-of-the-art facilities can fall victim to unforeseen setbacks that halt production completely. At Ford, for instance, the automaker announced yesterday that it will temporarily stop making its popular F-150 trucks after a fire at a supplier’s factory damaged critical components.

The incident took place last week at a facility that serves as Ford’s Continue reading →

Ford, Layoffs, Operations Management, Human Resources, Manufacturing, Product Development, Transportation

Chapter 1: Taking Risks and Making Profits, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 14: Product and Price

How the Free Video Game ‘Fortnite’ Makes a Fortune

May 8, 2018

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Since the release of Fortnite Battle Royale last summer, the video game has grown from a modest success into a global phenomenon with more than 40 million active players. At one point in March, 3.4 million people were playing Fortnite at the same time, making it by far the most popular video game currently on the market. The concept behind it is simple enough: 100 players parachute onto an island to fight until there’s only one person or team left Continue reading →

Video Games, Fortnite, Product Development, Entertainment, Pricing, Innovation, Product Distribution

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

Subway Will Close 500 Stores and Hire a New CEO

May 4, 2018

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With more than 26,000 locations nationwide and thousands more around the globe, Subway ranks as the world’s largest restaurant chain. Despite its size, though, the sandwich giant has shown some signs of decline recently. Along with three consecutive years of falling sales (including a 4.4 percent drop in 2017), foot traffic in Subway restaurants has plummeted by 25 percent since 2012. In fact, insiders estimate that as many as one-third of the company’s locations are not profitable.

To combat this Continue reading →

Marketing, Franchising, Food, Product Distribution, Management, Subway

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

7-Eleven Plans to Provide Healthier Food Options

May 2, 2018

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Famous for its sugary Slurpees and Big Gulp soft drinks, 7-Eleven allows people to grab a quick snack and get back on the road without a second thought. Although this business model has served the chain well since the 1940s, recent changes in consumer behavior have executives worried that 7-Eleven could be falling behind its competitors. According to the leading trade association of the convenience industry, the nation’s more than 155,000 convenience stores sold $53.3 billion worth of prepared foods Continue reading →

Food, Product Development, Retail, Marketing, 7-Eleven, Franchising

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, Chapter 15: Distribution

Making Things Insta-Worthy on a Tiny Budget

April 30, 2018

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American millennials’ tastes have turned many markets on their heads. From choice of food to the ways companies structure leadership, this large generation makes its preferences known. One trend companies are considering is how millennials tend to prefer amazing experiences rather than accumulating “things.” How can companies adapt traditional products and services to appeal to millennials?

As we know, people of all generations share experiences from travel, life events, and plain everyday life on social media. However, to earn Continue reading →

Product Development, Demographics, Marketing, Millennials, Social Media, Hotels

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] How Coca-Cola’s Bottle Got Its Curves

April 27, 2018

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In the early 20th century, the Coca-Cola Company was quickly growing in popularity both with American consumers as well as imitators who hoped to duplicate the soft drink’s success. This very brief video looks at how Coca-Cola fought off the copycats by designing a distinctive bottle that it still depends on to this day.

Questions:

Besides making things harder for imitators, how did Coca-Cola’s bottle redesign help the young company’s brand?
Do you think Coca-Cola would have grown to be Continue reading →

Product Development, Promotions, Packaging, Coca-Cola, Marketing, Food

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

Is Your Dog Ready to Go Meatless?

April 26, 2018

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Americans spend roughly $30 billion each year on food for their dogs. As millennials have grown to be the top dog-owning demographic, they’re changing the way our furry friends eat. The growing trend, at first created for humans and now for pets, is to increase foods’ nutritional value while also keeping food sources environmentally sustainable.

American dogs are the fifth highest consumers of meat in the world. In addition, pets are responsible for 64 million tons of greenhouse gasses each Continue reading →

Product Development, Innovation, Entrepreneurship, Sustainability, Food, Synthetic Meat, Pets

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] Starbucks Will Temporarily Close 8,000 U.S. Stores For Racial-Bias Training

April 19, 2018

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Last week, a manager at a Philadelphia Starbucks called the police on two African-American men who were waiting for a friend to arrive. Their subsequent arrest was caught on video and quickly went viral as thousands of social media users directed their outrage towards the coffee chain. Starbucks then took the drastic step of announcing that it would close all stores on May 29th for racial sensitivity training. Along with showing clips of the offending video, this short report also Continue reading →

How Private Funding Fuels Modern Corporations

April 17, 2018

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Earlier this month, the music streaming service Spotify went public on the New York Stock Exchange with a valuation worth approximately $30 billion. And while that is certainly an enormous amount of money, it pales in comparison to the $93 billion that the Japanese telecom giant Softbank privately raised last year to create a technology investment fund. In the past, major IPOs such as Spotify’s tended to be the most dependable way for up-and-coming companies to receive a major infusion Continue reading →

Investing, Wall Street, Spotify, Capital, IPO, Finance, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 18: Financial Management, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

It’s a Hard Time to Be a Clown

April 13, 2018

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Way back in 2014, we looked at how changing tastes had led to declining interest in the art and business of clowning. Unfortunately for these red-nosed entertainers, matters haven’t improved much in the following years. In fact, 2017 may have marked an all-time low for American clowns. Not only did the Ringling Bros. circus shut down after nearly a century and a half in operation, but also McDonald’s ended its regional Ronald McDonald program. Without the work that these Continue reading →

Marketing, Entrepreneurship, Entertainment, Clowns, Public Opinion

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