Chapter 3: Globalization - McGraw-Hill Introduction to Business

[VIDEO] Why Wall Street Is Investing in Trash

October 20, 2023

This video looks at the evolving operations of North America’s largest landfill operator, WM. Using capital provided by federal subsidies, the waste management company is investing in tech that could change the future of trash disposal, from sophisticated scanners that sort recycling to capturing methane gas to convert into fuel.

Questions:

Why is WM upgrading its operations to include more automation as well as methane gas extraction?
Do you think WM’s operational upgrades will make the company more sustainable Continue reading →

Operations Management, Ethics, Product Development, Entrepreneurship, Energy, Manufacturing, Product Distribution, Supply & Demand, Recycling, Subsidies

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Videos

Rising Sugar Prices Increase Halloween Candy Costs

October 18, 2023

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Last year, we looked at how rising candy prices and increased enthusiasm for spooky season led Americans to spend big on Halloween. And by all accounts, it looks like 2023 will be no different: not only are consumers expected to buy lots of costumes and candy, but they will also pay more for the privilege. According to the Bureau of Labor Statistics’ (BLS) latest Consumer Price Index (CPI) data, candy and chewing gum prices jumped by 7.7 percent from Continue reading →

Supply & Demand, CPI, Pricing, Supply chains, Global, Product Distribution, Manufacturing, Halloween, Holidays, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] How Electric Vehicles Could Affect the UAW’s Future

October 11, 2023

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Since the United Auto Workers (UAW) began striking against the Big Three car companies in September, the union has expanded its action to two more plants as workers continue to fight for better contracts. This video explains one of their central concerns: the expansion of automakers into the electric vehicle (EV) market. While members of the union are worried about their wages in an EV-driven future, American car companies fear that increased labor costs could make them uncompetitive with foreign Continue reading →

Ethics, Product Development, Manufacturing, Cars, Unions, Transportation, Labor Relations, Strikes, Electric vehicles, Global

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, Videos

[VIDEO] Airlines Sell Legroom at a Premium Price

September 28, 2023

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In the early days of air travel, carriers provided passengers with luxurious amounts of legroom. As the video below explains, however, today’s planes have far more seats with far less space between them, potentially resulting in uncomfortable experiences for tall travelers.

Questions:

Why do modern airlines “unbundle” the costs of travel by charging additional fees for luggage and seat selection?
Do you think government regulators should require air carriers to provide passengers with “comfortable” amounts of legroom? Why or why not?

Product Development, Global, Regulation, Ethics, Transportation, Product Distribution, Air Travel, 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 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law, Videos

Unimpressive Instacart Debut Decreases Confidence in IPOs

September 22, 2023

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For years, going public on the New York Stock Exchange or Nasdaq was the culmination of a longtime dream for many companies. After all, initial public offerings (IPOs) gave stakeholders a good chance to get rich quick while also bringing in new capital to expand their businesses even further. Unfortunately, this has not been the case for the last 18 months as rising inflation and growing economic uncertainty has created a poor environment for IPOs. In recent weeks, though, several Continue reading →

Inflation, Stock Exchange, Instacart, Regulation, Global, Interest Rates, Ethics, IPO

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

American Cities Sue Automakers over Increased Car Theft

September 13, 2023

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On the massively popular app TikTok, searching for the trending topic “Kia boys” will result in hundreds of videos of people joyriding in cars. These aren’t overly enthusiastic owners, however: these users take advantage of the South Korean automaker’s lax security standards to steal vehicles for fun and Internet clout. For example, one video shows a gloved hand easily starting a car using just a screwdriver and a USB cable while a computerized voice repeats the phrase “this is why Continue reading →

Product Development, Global, Cars, Ethics, Regulation, Manufacturing, Transportation, Crime, Legal, Product Distribution, South Korea

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 A: Business Law

Product Returns Drive a Multi-Billion Dollar Resale Industry

August 30, 2023

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America’s biggest retailers have often embraced product returns as a key aspect of their business, starting with J.C. Penney and his namesake company in the early 20th century. Allowing customers to return any product with no questions asked, other big companies like Walmart and Amazon would go on to follow his example in the years to come. “It’s a hallmark of successful American retail,” said Dale Rogers, business professor at Arizona State University. “If you make it easy to shop, Continue reading →

[VIDEO] Why Car Companies Still Use Expensive Clay Models

August 25, 2023

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For nearly a century, car companies all over the world have built life-size clay models of vehicles in order to make all sorts of design decisions. But don’t let the humble materials fool you: luxury brands like Bentley often spend more than $650,000 to make just one model. This video looks at the benefits of building these pricey prototypes during the development process and why virtual reality tools won’t entirely replace clay anytime soon.

Questions:

What are the advantages Continue reading →

Automation, Virtual reality, Product Development, Marketing, Cars, Global, Transportation, Manufacturing

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Videos

[VIDEO] How McDonald’s Crafts Its Country-Exclusive Menus

August 11, 2023

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More than 60 percent of McDonald’s sales come from outside the U.S., making foreign markets just as important to Mickey D’s bottom line as its domestic operations. This video looks at how the fast food giant develops items for its global customers, who often enjoy flavors that can’t be found under the Golden Arches anywhere else in the world.

Questions:

Why does McDonald’s develop menu items for specific global markets?
How does “transplanting flavors” from one market to another Continue reading →

Product Development, Promotions, Marketing, Fast food, Global, McDonald’s, Product Distribution, Food & Drink

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 16: Place and Promotion, Videos

[VIDEO] Why Primark Is Thriving As Other Retailers Struggle

August 2, 2023

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Experts estimate that as many as 80,000 American retail stores will close over the next five years as companies like Forever 21, JCPenney, and Neiman Marcus struggle to stay afloat. That’s not the case for the British retailer Primark, however, which has 18 locations in the U.S. with plans for a lot more to come. This video looks at how the company became a multibillion dollar brand in Europe by sticking to brick-and-mortar stores stocked with high quality items at Continue reading →