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

The Fall of Elizabeth Holmes and Theranos

September 16, 2016

For Silicon Valley entrepreneurs, establishing a clear narrative around a startup’s foundation and purpose is essential to success. Few people understood this concept better than Elizabeth Holmes, CEO of the formerly acclaimed blood-testing firm Theranos. She founded her company in 2003 at the age of 19 after dropping out of Stanford University’s School of Chemical Engineering. Holmes left college early because she claimed to discover a revolutionary new method for medical testing: rather than drawing a significant amount of blood Continue reading →

Product Development, Marketing, Branding, Ethics, Regulation, Health, Theranos, Elizabeth Holmes

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] The Volcker Rule Explained

September 14, 2016

NickelsMcHughMcHugh

The Dodd-Frank Wall Street Reform and Consumer Protection Act ranks among the most important laws passed in recent history. It’s also extremely complicated, amounting to some 14,000 pages of various regulations and restrictions. The video below takes a look at one of the key provisions of this landmark bill: The Volcker Rule, or the stipulation that banks cannot act like hedge funds and gamble with their own cash reserves. Although reviled by many on Wall Street, supporters say the rule Continue reading →

Regulation, Ethics, Dodd-Frank, Wall Street, Volcker Rule, Finance

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Videos

Wells Fargo Fires More Than 5,000 Employees for Fraud

September 12, 2016

NickelsMcHughMcHugh

Last week regulators at the Consumer Financial Protection Bureau (CFPB) dropped a bombshell that surely shocked anyone with a bank account at Wells Fargo. According to the CFPB, employees at the bank created more than 1.5 million phony accounts over the years in order to fraudulently reach sales targets and earn fees. This “widespread” practice resulted in the recent firing of approximately 5,300 Wells Fargo employees. Regulators also hit the bank with a fine of $185 million along with $5 Continue reading →

Consumer Financial Protection Bureau, Ethics, Banking, Regulation, Fraud, Wells Fargo

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Shipping Company Bankruptcy Strands $14 Billion in Cargo at Sea

September 8, 2016

NickelsMcHughMcHugh

Almost 95 percent of all manufactured goods arrive at their destinations in shipping containers. These freight boxes often begin their journeys aboard enormous cargo ships that transport items around the globe. Normally this process is simple enough: a ship pays a docking fee upon arrival along with additional charges for unloading and container storage. In the case of South Korea’s Hanjin Shipping Company, however, this common process has been halted. After filing for bankruptcy protection last week, ports across the Continue reading →

South Korea, Global, Supply chains, Transportation, Product Distribution, Shipping

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 15: Distribution

FDA Bans Use of “Antibacterial” Soaps

September 6, 2016

NickelsMcHughMcHugh

Last week we shared a video about how food companies label some items as “natural” even though they’re no healthier than their non-natural counterparts. While that term may soon come under regulation, the Food and Drug Administration (FDA) recently banned another marketing buzzword from use on commercial products. As of last Friday, “antibacterial” soaps are no longer allowed on U.S. store shelves after manufacturers failed to prove they were safer or cleaner than regular products.

“Consumers may think antibacterial washes Continue reading →

FDA, Soap, Product Development, Branding, Regulation, Packaging, Ethics, Product Distribution

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

[VIDEO] The ‘Natural’ Label on Your Food Is Baloney

September 2, 2016

NickelsMcHughMcHugh

As Americans become more health conscious eaters, food companies have taken advantage of this trend by producing an abundance of items labelled “organic” and “natural.” However, one of these words is not like the other. This video takes a look at what “natural” means when it appears on food packaging and how this potentially misleading word could soon be subject to stricter regulation.

Questions:

What is the difference between the words “organic” and “natural” when it comes to food Continue reading →

Packaging, Sustainability, Ethics, Product Distribution, Food, Labels, Organic

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, Videos

Domino’s Launches Delivery Drones in New Zealand

August 31, 2016

NickelsMcHughMcHugh

A few years ago Amazon announced a plan to start their own drone-based delivery service, allowing customers to receive goods just hours after ordering. At the time the idea seemed almost too futuristic to be true. After all, the image of dozens of robots circulating the sky and dropping off packages sounds like something straight out of a sci-fi movie. According to the company, however, the plan for Amazon Prime Air remains on track and may even become a reality Continue reading →

Product Development, Product Distribution, Domino’s, Drones, Global, New Zealand

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter A: Business Law

French Lawmakers Consider Banning “Too Cool” Cigarette Brands

August 26, 2016

NickelsMcHughMcHugh

France is home to more than 13 million smokers, which includes one-third of teenagers and a quarter of adults. For years the nation’s health ministry has attempted to reduce this enormous number by spearheading initiatives that target the consumer appeal of cigarettes. For instance, the French government has long followed European Union laws requiring tobacco companies to cover 65 percent of their packaging with health warnings. In May, however, lawmakers took this concept a step further by passing “neutral packaging” Continue reading →

Branding, Global, Packaging, Ethics, France, Smoking, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law

A Class Project Turns Into a Socially Responsible Startup

August 22, 2016

NickelsMcHughMcHugh

In 2012, MIT student Amrita Saigal chose to tackle a largely unaddressed health issue for a project in her product design class. She hoped to create a low-cost method to distribute clean, reliable sanitary pads for women across India. The subject of feminine hygiene remains largely taboo on the subcontinent with studies showing that 88 percent of menstruating women are forced to use crude homemade remedies like rags or newspapers. Saigal’s idea centered on a sanitary pad machine that would Continue reading →

Women’s Health, India, Product Development, Innovation, Global, Education, Ethics, Health, Sustainability, Product Distribution

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

The IOC Keeps a Tight Grip on the Olympic Brand

August 18, 2016

NickelsMcHughMcHugh

When master salami maker Elias Cairo opened his restaurant Olympic Provisions in 2009, the company’s name seemed to be a gift from fate. Not only did the brand resonate with his Greek heritage, but it also paid tribute to the original resident of his eatery’s building, Olympic Mills. Early success allowed Cairo and his partners to expand the packaged salami-selling side of the business, which eventually grew into a major operation with distribution in 46 states. More restaurant openings and Continue reading →

Marketing, Branding, Global, Promotions, Food, Olympics, Oregon

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Uncategorized