Chapter 3: Globalization - McGraw-Hill Introduction to Business

[VIDEO] Explaining America’s Current Unemployment Crisis

May 21, 2020

With tens of millions of Americans currently out of work, the U.S. is experiencing an unemployment crisis on a scale not seen since the height of the Great Depression. This video looks at the devastating effects of rising joblessness while also explaining how several European governments intervened to avoid disastrous unemployment rates.

Questions:

Why is the U.S. unemployment insurance system not equipped to face the current crisis?
Do you think the U.S. should take a more active role in Continue reading →

Economics, Operations Management, Global, Ethics, Regulation, Labor Relations, Health, Unemployment, Coronavirus

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 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

[VIDEO] How the Oil Bust Could Reshape Global Markets

April 17, 2020

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With millions of cars off the road and thousands of airplanes sitting idle on tarmacs, oil consumption has plummeted since the start of the coronavirus pandemic. This has led to a drastic drop in petroleum prices that could have an enormous impact on the global economy in the months to come. This video looks at how trade tensions caused prices to fall before the Covid-19 crisis and how oil producing nations are now rethinking their priorities.

Questions:

How has Continue reading →

Farmers Dump Milk and Eggs as Restaurant Demand Falls

April 10, 2020

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Over the last few weeks, shoppers at supermarkets across the country have stocked up on versatile staples like milk, bread, and eggs that are well-suited for hunkering at home. But as many meat and dairy producers ramp up production to satisfy this increasing demand, food companies that serve clients like restaurants and schools are drastically scaling back. With many eating establishments now closed or take-out only due to coronavirus containment, food suppliers have seen demand for their services plummet. As Continue reading →

Health, Product Distribution, Supply & Demand, Coronavirus, Product Development, Economics, Regulation, Operations Management, Packaging, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Nearly a Third of Renters Have Not Paid This Month’s Rent

April 9, 2020

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This morning, the U.S. Department of Labor announced that another 6.6 million Americans filed for unemployment benefits last week. All told, almost 17 million people have applied for jobless aid in the past three weeks, accounting for 10 percent of the U.S. labor force. The sudden loss of so many jobs is staggering and unprecedented. For comparison, it took two years for 8.6 million people to lose their jobs during the Great Recession. Many analysts predict that the unemployment rate Continue reading →

Economics, Ethics, Regulation, Human Resources, Health, Real Estate, Coronavirus, Labor Relations, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Startups Hit Hard By Coronavirus Shutdowns

April 3, 2020

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Earlier this year, we looked at how the fitness startup ClassPass grew into a $1 billion company thanks to an innovative business model that allows members to easily find exercise classes in their area. Flash forward just a few months later, however, and ClassPass finds itself in a completely different position due to widespread shutdowns caused by coronavirus containment. As gyms and fitness centers closed across the world in March, ClassPass watched as 95 percent of its revenue disappeared within Continue reading →

Movie Studios Offer New Titles On-Demand for Homebound Viewers

March 27, 2020

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With movie theaters across the world closed due to coronavirus containment, experts predict that the global film industry could lose as much as $15 billion this year. China shuttered more than 60,000 theaters in January right before the annual Lunar New Year holidays, a boom period that usually brings in $2 billion in box office sales. Meanwhile in the U.S., AMC Theatres recently announced that it has furloughed its CEO and corporate staff after the company closed more than 1,000 Continue reading →

Amazon Changes Shipping Priorities for Vital Supplies

March 19, 2020

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With millions of people across the country staying home and practicing social distancing, it’s no surprise that many are doing their shopping online through Amazon. As a result, the e-commerce giant has seen demand for household items and medical supplies increase dramatically over the last couple of weeks. In order to ensure that no essential products go out of stock, this week Amazon announced that its U.S. and European warehouses will now only hold “vital supplies.” This includes baby products, Continue reading →

Coronavirus, Operations Management, Supply chains, Global, Health, Human Resources, Hiring, Amazon, Crisis management, E-commerce, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Bonus Chapter B: Technology and New Media

Dow Jones Drops by Nearly 3,000 Points in One Day

March 17, 2020

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Fears over the spread of coronavirus have upended daily life for millions of Americans and countless businesses. The CDC has recommended that organizations cancel any events with 50 or more people, and restaurants around the country are either switching to take-out only or closing entirely. As a result of the uncertainty surrounding this health crisis, financial markets around the globe are experiencing near-record drops in value. In fact, on Monday the Dow Jones Industrial Average plummeted by about 3,000 points, Continue reading →

Stocks, Health, Crisis management, Coronavirus, Economics, Operations Management, Global, Regulation, Ethics, Dow Jones, Human Resources

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 19: Securities Markets

Major Sports around the World Temporarily Shut Down

March 13, 2020

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Due to concerns about the spread of coronavirus, representatives from athletic leagues across the globe have announced that they will temporarily halt play. On Wednesday, the National Basketball Association was the first to suspend competition after a player on the Utah Jazz tested positively for COVID-19. The next day, the National Hockey League similarly put games on hold while Major League Soccer delayed the start of its upcoming season as well. Shortly after these announcements, Major League Baseball canceled the Continue reading →

Management, Sports, Global, Entertainment, Ethics, Regulation, Human Resources, Health, Crisis management, 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, Bonus Chapter A: Business Law

Coronavirus Closures Lead to Layoffs

March 12, 2020

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Yesterday, the World Health Organization officially classified coronavirus as a pandemic, causing the Dow Jones Industrial Average to plummet by nearly 1,500 points. This rapid decline in the market has reversed more than a decade of expansion for the U.S. economy while companies around the world suffer from border closures and shutdowns. As a result, employees in many struggling industries are facing layoffs as business as usual grinds to a halt.

For instance, the Port of Los Angeles has Continue reading →