As we mention in Chapter 3 of the textbook, culinary tastes can vary wildly all over the globe. Even the largest fast food chains step out of their comfort zones in order to cater to local flavors. For instance, KFC’s menu in China includes a traditional fried duck wrap, while Japan’s Pizza Hut outlets offer squid and sweet mayonnaise as toppings. But even these items pale in comparison to the latest unusual creation presented to Japanese consumers, this time courtesy Continue reading
In the 1950s, more than 150 television manufacturers called the U.S. home. Today, not even component parts for TVs are produced on American soil. Still, that hasn’t stopped Wal-Mart from slapping “Assembled in the USA” stickers onto many flat screen TVs stocked in its stores. That’s because the company buys the televisions from South Carolina’s Element Electronics Corporation, which imports all their items from China.
That doesn’t mean Element is simply a middleman operation though. TVs that arrive at the Continue reading
Walmart became the largest retail chain in the U.S. by offering customers the same low prices every day. As it expanded globally, however, the company found out that not every culture responds to this pricing strategy. For instance, Walmart has had a hard time winning over Brazilian consumers despite opening 550 stores in nearly 200 cities. That’s because most people in the large South American nation are happy to hunt for the best deals at a variety of stores rather Continue reading
In the mid-20th century, many struggling nations around the world relied heavily on outside governments for assistance. Foreign aid of this nature accounted for 71 percent of all worldwide capital flows as recently as 1960. As the years progressed, however, governments largely removed themselves from the global development game. Today, foreign aid accounts for less than 1 percent of the U.S. budget and only 9 percent of current capital flows.
To fill this void, non-governmental organizations and groups such Continue reading
Even though the U.S. has a gross domestic product (GDP) valued at nearly $17 trillion, that huge figure still doesn’t come close to providing a complete picture of the American economy. Each year billions upon billions of transactions go undocumented, untaxed, and ultimately unrecorded by official GDP statisticians. Whether it’s earning a few bucks by mowing a neighbor’s lawn or by selling drugs, these concealed deals all form what’s known as the underground economy.
Many economists have said that it’s Continue reading
For decades big companies have done their best to avoid hefty corporate tax rates levied by Uncle Sam. The U.S. government collects 35 percent of a domestically based corporation’s income, a figure based on the entirety of the company’s worldwide revenue. This mighty bite from the bottom line leads many firms to reincorporate their companies in places like the Cayman Islands or Ireland, where the corporate tax rate is just 12.5 percent. While this process of “inversion” is entirely legal, Continue reading
On the surface, it might seem like bungee jumping and fine dining don’t have much in common. But at a company called Dinner in the Sky, elements of these two seemingly unrelated concepts are combined to create an incomparable dining experience.
The business began in 2007 when a European restaurant association hired marketer David Ghysels to put together a suspended aerial dinner for promotional purposes. Ghysels teamed up with bungee-jumping expert Stefan Kerkhofs to design an advanced high-wire table that Continue reading
A few years ago, a rash of employee suicides at Foxconn Technology prompted investigations into the working conditions at the Chinese manufacturing giant. As the maker of such in-demand items as the iPad and Hewlett-Packard servers, Foxconn employs tens of thousands of people who work long shifts and live on-site. The monotonous work and the dorm-like living quarters can make for a grey life on the Foxconn campus, leading to depression and worse.
Foxconn responded to this bleak state Continue reading
For many working Americans, leaving the office in the early evening doesn’t necessarily mean your workday is done. Answering emails and phone calls can stretch one’s workday far past the standard five o’clock threshold. That is, unless you happen to be a consultant working in France. Under a new agreement between labor unions and corporate representatives, more than 250,000 French employees at consulting, computing and polling firms are required to “disconnect” from work once they clock out.
Under the Continue reading
Smartphones have granted people unprecedented access to information, but many users don’t realize they’re giving away just as much access to themselves simply by using the devices. As we’ve previously discussed, retailers and search engines compile loads of data gathered from users’ browsing habits. And if these legitimate operations can easily obtain this info, then it stands to reason that people with more nefarious intentions can find a way into your data as well.
However, many hackers these days Continue reading