Chapter 3: Globalization - McGraw-Hill Introduction to Business

How the Global Tech Outage Affected Businesses Big and Small

July 24, 2024

Over the weekend, businesses around the world scrambled to recover after a faulty software update caused one of the biggest IT outages in history. The Texas-based cybersecurity firm Crowdstrike released a security update last Thursday that was supposed to protect computers from malware and cyber attacks. Instead, the flawed update caused Microsoft Windows to crash and impacted more than 8.5 million computers. The global tech meltdown disrupted nearly every aspect of society, especially healthcare and transportation. Hospitals canceled procedures, and Continue reading →

Product Distribution, Crisis management, Operations Management, Information Technology, Global, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] American Brands Lose Market Share to Locals in China

July 17, 2024

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China has long been a lucrative market for American companies looking to win over the country’s more than 1 billion consumers. But while brands like Nike and Starbucks have thrived in China for decades, their age of dominance could be coming to an end thanks to a new wave of domestically owned firms. The video below explores how companies like Anta and Luckin Coffee are appealing to younger consumers who seem less interested in Western products than past generations.

Questions: Continue reading →

Product Development, Branding, Marketing, Pricing, Global, China, Entrepreneurship, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Authorities in Denmark Recall Noodles for Being Too Spicy

July 12, 2024

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Consumers across the world have different tastes and preferences when it comes to food. For instance, a dish that people think is mild in one place might be considered extremely spicy in another part of the world. As the global economy pushes products across national and cultural lines, many businesses have come to discover the potential difficulties of selling food to customers in unfamiliar markets. In fact, an instant ramen company in South Korea learned this lesson the hard way Continue reading →

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, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

How Rent the Runway Lost Over 90 Percent of Its Value

June 14, 2024

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The fashion startup Rent the Runway seemed destined for long-term success when it launched as an industry-disrupting force in the late 2000s. As this video shows, though, not even a $1 billion IPO could save the company from established competitors and the impact of a global pandemic.

Questions:

How did the pandemic affect Rent the Runway’s business?
What advantages do established competitors like Urban Outfitters have over startups like Rent the Runway?

Promotions, Product Distribution, E-commerce, Supply & Demand, Pandemic, Marketing, Entrepreneurship, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, 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

[VIDEO] Why Gold Is More Valuable Than Ever

May 29, 2024

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Demand for gold has been rising across the globe, defying economists’ expectations and sending prices soaring to new heights. The video below looks at how the gold trade has changed in recent years as everyday consumers enter the market alongside major investors. Costco, for example, sells $200 million worth of gold bars every month to members on the lookout for what they consider to be stable investments.

Questions:

Why have gold prices been rising across the globe recently?
Do you Continue reading →

Retail, Marketing, Global, Product Distribution, Commodities, Supply & Demand, Costco, Gold

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Videos

AAA Expects Record Amount of Memorial Day Travelers

May 22, 2024

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Memorial Day represents the start of summertime for many Americans, who often use the long weekend to hit the road and go on a trip. According to AAA, that statement will ring especially true this year as a record number of travelers will trek across the country over the coming days. Between Thursday and Monday, an estimated 43.8 million people will travel at least 50 miles, marking a four percent increase over 2023. In fact, this weekend could equal the Continue reading →

Holidays, Supply & Demand, Entertainment, Transportation, Travel, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution

Zara Attempts to Rebrand as a Luxury Fashion Line

May 3, 2024

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The fashion company Zara became a multi-billion dollar force in the industry thanks to its unique ability to churn out stylish clothing at low prices. Of course, critics of the Spanish firm would not likely call its business model “unique”: Zara has long been accused of ripping off its designs from luxury fashion houses. Those days might be in the past, however, as the company looks to reinvent itself as a high-end brand working with some of the world’s top Continue reading →

Zara, Management, Marketing, Global, Ethics, Branding, Entrepreneurship, Fashion

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

New Law Could Potentially Ban TikTok in the U.S.

May 1, 2024

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A few weeks ago, we examined TikTok’s uncanny ability to provide entrepreneurs with major marketing opportunities at the expense of brand control. The potential downsides of the latter became clear last week when President Biden signed a bill into law that could ban the social network in the U.S. Under the provisions of the bill, which passed both the House and Senate with considerable support, TikTok’s Chinese parent company ByteDance has 270 days to sell the app to an American Continue reading →

Getting Attention but Losing Brand Control with Viral Marketing

April 17, 2024

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Earlier this year, we looked at how the century-old brand Stanley skyrocketed to viral fame after the company’s drink tumblers went viral on TikTok. Of course, Stanley cups are far from the only product to become a blockbuster thanks to the video sharing platform with more than 1 billion daily active users. For example, in 2018 the cleaning solution The Pink Stuff was a little known item with a bright look, fun name, and not much else going for it. Continue reading →

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, 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

Baltimore Bridge Collapse Disrupts Shipments and Insurers

April 12, 2024

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On the morning of March 26th, the Dali, an enormous container ship, crashed into one of the supporting structures of Baltimore’s Francis Scott Key Bridge, which collapsed soon after. This tragic incident killed six workers on site and caused at least one major injury, along with an economic impact that spans the globe. The Port of Baltimore must remain closed for a few more weeks while the wreckage is cleared, which will require at least seven container ships and hundreds Continue reading →

Operations Management, Supply chains, Global, Transportation, Ethics, Insurance, Product Distribution, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law, Bonus Chapter C: Managing Risk