Chapter 3: Globalization - McGraw-Hill Introduction to Business

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

August 11, 2023

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 →

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

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

NickelsMcHughMcHugh

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 →

Domestic Production Sets Bath & Body Works Apart

July 26, 2023

NickelsMcHughMcHugh

Making a $7.95 bottle of soap for Bath & Body Works (BBW) once took three months to accomplish. Parts traveled more than 13,000 miles across multiple countries to end up at the company’s Ohio distribution center, a difficult journey that the beauty brand sought to change in 2008. Years of working with local officials and skeptical suppliers resulted in BBW’s “beauty park” located outside of Columbus, an industrial campus that handles nearly every aspect of production. Featuring 10 manufacturers with Continue reading →

Operations Management, Product Development, Global, Supply chains, Manufacturing, Product Distribution, Supply & Demand, Management

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] How Economists Use Working Hours as a Recession Indicator

July 21, 2023

NickelsMcHughMcHugh

American companies have been hiring lots of new employees this year, making economists hopeful that the country will not experience a recession anytime soon. Still, other experts claim that increased hiring is not as reliable of an economic indicator as some think. The video below explains how total working hours can provide a more detailed picture of the country’s economic health and why fears of an incoming recession could be justified.

Questions:

How do economists use “hours worked” as Continue reading →

Economics, Operations Management, Human Resources, Labor Relations, Recession, Compensation

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Videos

[VIDEO] How Tabasco Fills Up To 700,000 Bottles A Day

July 14, 2023

NickelsMcHughMcHugh

Since 1868, Tabasco has produced hot sauce by aging a spicy mash of peppers, vinegar, and salt in oak barrels for five years. The video below shows how the company makes this iconic condiment through a combination of time-tested methods and modern assembly line efficiency.

Questions:

Why does Tabasco still depend on using old bourbon barrels to create its hot sauce?
Do you think Tabasco should relocate its Avery Island facilities in favor of a place that is more Continue reading →

Product Development, Operations Management, Product Distribution, Global, Agriculture, Manufacturing, Food & Drink, Tabasco

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Videos

[VIDEO] The High Stakes of Spotting Fakes in the Luxury Watch Market

June 23, 2023

NickelsMcHughMcHugh

From 2011 to 2021, the value of Rolex watches outperformed real estate and stock markets as well as commodities like gold. This video looks at the risks and rewards of the $20 billion used watch industry, from soaring demand and big price tags to small margins and extensive counterfeiting.

Questions:

Why are counterfeit products harmful to luxury brands like Rolex?
How does high demand for Rolex encourage counterfeiters to produce knockoffs?

[VIDEO] Why Hitting the Debt Ceiling Would Be ‘Catastrophic’

May 11, 2023

NickelsMcHughMcHugh

Lawmakers are once again butting heads about raising the debt ceiling, a limit on the total amount of money that the federal government is authorized to borrow. This video looks at the potential economic consequences that could follow if legislators fail to reach an agreement and default on the nation’s debt.

Questions:

How does debt help drive the U.S. economy?
Why are U.S. bonds traditionally seen as reliable investments? How could that change if the country defaults on its debt?

Bonds, Securities, Regulation, Economics, Debt ceiling, Global, Ethics, Federal Reserve

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

Hollywood Screenwriters Go on Strike

May 3, 2023

NickelsMcHughMcHugh

Members of the Writers Guild of America (WGA) began walking picket lines yesterday after failing to agree a new deal with production companies. This strike marks an end to 15 years of labor peace in Hollywood, bringing dozens of television and film projects to an immediate and indefinite halt. According to representatives of the approximately 11,500 striking writers, the rise of streaming has upended the industry and led to declining conditions for creative workers. For example, in the past network Continue reading →

Entertainment, Ethics, Streaming, Unions, Television, Labor Relations, Movies, Strikes

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Miller Faces Wrath from European Customs for “Champagne of Beers” Slogan

April 28, 2023

NickelsMcHughMcHugh

In 1903, the Milwaukee-based Miller Brewing Company launched Miller High Life, dubbing its then-signature brand “the Champagne of Bottle Beer.” Not much has changed about it more than a century later, except in the 1960s the company shortened its slogan to “Champagne of Beers” and included the saying in the brand’s logo. But while Miller’s famous catchphrase may seem inoffensive enough to most Americans, that view is not shared by the Comité Champagne. This French trade organization determines which products Continue reading →

Product Distribution, European Union, Marketing, Food & Drink, Global, Branding, Packaging

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

[VIDEO] How Delta Makes 3,200 Meals Per Day

April 5, 2023

NickelsMcHughMcHugh

In the last few months, we’ve posted videos focusing on small businesses that produce mouthwatering foods by hand, from tasty chocolates to delicious hand-rolled bagels. Today’s video looks at another sort of commercial kitchen, however, a facility owned by Delta Airlines that pumps out more than 3,000 meals daily by relying on robotic machines.

Questions:

Why does Delta rely on automated cooking machines at its Atlanta facility?
Do you think small businesses producing food by hand could benefit Continue reading →

Airlines, Operations Management, Global, Manufacturing, Automation, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Bonus Chapter B: Technology and New Media, Videos