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

Meal-Kit Companies Face an Uncertain Future

June 8, 2017

For those who don’t want to take a trip to the grocery store or dine out, meal-kit startups like Blue Apron and HelloFresh bring dinner right to your doorstep. These companies place all the ingredients you need into a box along with detailed instructions about how to prepare your meal. And thanks to incessant advertising through new media platforms like podcasts, meal-kit startups have seen interest from consumers increase year after year. In fact, Blue Apron has been so successful Continue reading →

Product Development, Product Distribution, Marketing, E-commerce, Food, Blue Apron, Subscription Services

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, Chapter 19: Securities Markets

Fidget Spinners May Be Fun, But They Aren’t Helpful

June 6, 2017

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In the proud tradition of pet rocks and Beanie Babies, fidget spinners have recently become the hottest fad product on the market. These tiny toys feature three prongs that whirl around a ball-bearing equipped center, creating something that looks like a little ceiling fan that spins in your hand. Some even sport multi-colored lights so you can dazzle all your jealous friends. They’re available to purchase almost everywhere and have become ubiquitous in schools across the country, much to the Continue reading →

Product Development, Education, Fidget Spinners, Fads, Marketing, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

European Cities Start Pushing Back Against Tourists

May 31, 2017

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With the school year ending and summer right around the corner, students and teachers around the country are likely counting the days until they can finally go on vacation. The most fortunate of this already lucky bunch may be headed to Europe to take in the continent’s grand cities and ancient monuments. But while these world travelers get excited about their upcoming trips, the residents of some European tourist destinations don’t share the same enthusiasm.

Barcelona, for instance, recently passed Continue reading →

Marketing, Vacation, Global, Barcelona, Venice, Tourism, Regulation, Travel

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Bonus Chapter A: Business Law

[VIDEO] How China Is Changing Your Internet

May 26, 2017

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In the early days of China’s tech industry, most companies simply took the concepts developed by successful American startups and created Chinese versions of them. For instance, rather than Google, most of the country uses the domestically owned search engine Baidu. But after years of imitation, Chinese apps like the all-encompassing WeChat could change the way that people use the Internet all over the world.

Questions:

Why haven’t American tech companies like Facebook and Google been able to succeed Continue reading →

Global, Innovation, Ethics, China, Social Media, Mobile, Silicon Valley, Apps

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

How Chevy Finds “Real People” for Its Commercials

May 24, 2017

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For the past few years, Chevrolet has ran a series of ads that feature “real people, not actors” staring in awe as they look at and listen to facts about Chevy cars. These televised focus groups are filmed on sets outfitted with enormous doors and spinning elevators that reveal the vehicles in grand fashion. All the while a friendly host tells the onlookers about how many J.D. Power awards Chevy has won along with other details about the brand. Whenever Continue reading →

Cars, Advertising, Marketing, Market research, Ethics, Transportation, Chevrolet, Focus Groups, Promotions

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

Amazon Carefully Develops Its Drone Delivery Program

May 19, 2017

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In 2013 Amazon announced a bold new venture: a drone delivery service that could bring products to customers within 30 minutes. Three years later, the e-commerce giant completed its first Amazon Prime Air delivery during a trial run in Great Britain. Of course, the company still has a long way to go before its drones are ready to take flight in great numbers. Along with figuring out many technical details, Amazon must also deal with regulations that limit where drones Continue reading →

Product Distribution, Drones, Product Development, Innovation, Regulation, Transportation, Global, Amazon

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

Ransomware Attack Does $8 Billion Worth of Damage

May 18, 2017

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Last Friday hackers launched a massive cyberattack that targeted hundreds of thousands of users and organizations in more than 150 countries. Using a “ransomware” virus called WannaCry, the malware infected computer systems by locking users out of their files and demanding money to set them free. Regardless of whether the user paid up or not, though, the virus was easily able to spread to other computers linked within the same network. Eventually one lucky researcher discovered a “kill switch” in Continue reading →

Ethics, Security, Ransomware, Cyberattack, Operations Management, Global

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

Lyft Partners with Google’s Waymo on Self-Driving Cars

May 16, 2017

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Self-driving vehicle technology has improved so much in recent years that the concept is no longer a futuristic fantasy. As automated driving becomes more refined, companies have begun to move out of the research phase and on to developing commercial strategies. Waymo, for instance, became a company in December 2016 after eight years of autonomous vehicle research by its parent Google. During that time, Waymo says that its vehicles logged more than 3 million miles driving in the real world. Continue reading →

Product Development, Innovation, Transportation, Google, Automation, Uber, Lyft, Self-Driving Cars

Chapter 1: Taking Risks and Making Profits, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] How Robots Are Saving the Dairy Farm

May 12, 2017

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For most non-rural people, the classic image of a dairy farm likely involves a solitary, bucket-toting farmer trudging out to the barn to milk the cows before dawn. As this video shows, though, modern American dairy farms are far more advanced than most city slickers would imagine. From automated milking machines to robot feeders, these high-tech tools help dairy farmers cut costs while also improving efficiency.

Questions:

What are the advantages of automation on dairy farms?
How have labor Continue reading →

Hiring, Automation, Operations Management, Farming, Human Resources, Labor Relations

Chapter 1: Taking Risks and Making Profits, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter B: Technology and New Media, Videos

Lab-Made Meat Could Be the Future of Food

May 11, 2017

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According to estimates from the U.N., by 2050 the global food industry will need to produce 455 million tons of meat annually in order to keep up with demand. Today’s meat makers already produce 259 tons per year, leaving behind an enormous environmental impact in the process. More than 70 percent of the world’s water consumption comes from meat and dairy production along with 38 percent of land use and 19 percent of global greenhouse gas emissions. Environmentalists fear that Continue reading →

Packaging, Food, Sustainability, Synthetic Meat, Product Development, Innovation

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media