Chapter 3: Globalization - McGraw-Hill Introduction to Business

Startups Hit Hard By Coronavirus Shutdowns

April 3, 2020

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 →

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

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 →

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

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, Global, Ethics, Human Resources, Sports, Entertainment, Regulation, 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 →

Demand for Hand Sanitizer Skyrockets by More than 1,000 Percent

March 10, 2020

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Last week we looked at how fears over coronavirus have caused major events to cancel and governments to restrict travel. Since then, organizers of South By Southwest have called off the festival while Italy has expanded emergency measures for the entire country. That means no public gatherings will be allowed in the Mediterranean nation along with a general ban on travel for all citizens unless they receive special permission. This global escalation of tensions surrounding the Covid-19 virus has Continue reading →

Global, Ethics, Manufacturing, Labor Relations, Pricing, Regulation, Supply chains, Health, Supply & Demand, 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 12: Labor Management and Unions, Bonus Chapter A: Business Law

Coronavirus Uncertainty Hits Travel and Hospitality Companies Hard

March 5, 2020

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With winter starting to wind down, this is the time of year that cities around the world usually prepare for incoming business conferences and big events to bring in thousands of travelers. The annual South by Southwest conference in Austin, Texas, will be held later this month followed closely by spring break holidays and then the Olympics in Japan during the summer. But with cases of coronavirus now appearing in Europe and the U.S., many organizations and governments are either Continue reading →

Global, Ethics, Human Resources, Regulation, Health, Crisis management, Coronavirus, Conferences

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

One Quarter of American Workers Receive No Paid Sick Leave

March 3, 2020

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Although many wealthy democracies across the world mandate paid sick leave for workers, the U.S. does not require companies to grant their employees any time off. About one in four Americans cannot take the day off if they fall ill, with many working in busy businesses like retailers and restaurants. As a result, medical experts fear that a disease like the coronavirus could spread even quicker if potentially sick people must continue going to work.

The nation’s lack of sick Continue reading →

Global, Ethics, Human Resources, Regulation, Health, Coronavirus, Paid sick leave

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

Global Stocks Plummet Amid Coronavirus Fears

February 28, 2020

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Stock markets around the world have been falling dramatically all week due to fears surrounding the spread of the coronavirus. If global exchanges continue with this cycle of massive selloffs today, then the past week could represent the biggest stock market drop since the height of the 2008 financial crisis. And it’s not looking too good so far: “We’re drinking from a fireman’s hose this morning,” said Patrick Spencer, managing director at the investment firm Baird. “It wasn’t a good Continue reading →

Economics, Operations Management, Global, China, Supply chains, Health, Travel, Stock Market, 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 19: Securities Markets, Bonus Chapter A: Business Law