Chapter 3: Globalization - McGraw-Hill Introduction to Business

[VIDEO] How Junior’s Bakes Millions of Cheesecakes

November 11, 2022

The New York bakery Junior’s has been selling enormous cheesecakes to customers since 1950, but 2022 has probably been the toughest year for the company since its founding. Along with examining how a cream cheese shortage and skyrocketing ingredient prices have threatened Junior’s bottom line, this video also examines the company’s history and the intricate production processes for its many baked goods.

Questions:

How have rising ingredient costs affected Junior’s business?
What role does automation play at Junior’s Continue reading →

Marketing, Operations Management, Pricing, Entrepreneurship, Manufacturing, Product Distribution, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Videos

[VIDEO] Drying Mississippi River Disrupts Another Supply Lane

November 2, 2022

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The Mississippi River serves as one of the nation’s most vital supply routes, with slow-moving barges carrying everything from agricultural products to oil and building materials. Due to a drastically dry spring and summer, however, the river is running too low at some points to allow vessels to pass through. This video looks at how plummeting water levels on the Mississippi are disrupting the plans of farmers and manufacturers who rely on the river to get their goods to market. Continue reading →

Shipping, Global, Logistics, Supply & Demand, Supply chains, Transportation, Product Distribution, Operations Management

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Videos

Enthusiasm and Inflation Drive Increased Halloween Spending

October 28, 2022

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After years of unease, this year Americans are approaching holidays like Halloween with a level of enthusiasm not seen since pre-pandemic times. According to a survey from the National Retail Federation (NRF), 69 percent of consumers plan to celebrate Halloween this year, an amount that is on par with the stats from 2019. “As consumers continue to return to pre-pandemic behaviors, retailers are prepared to meet that demand and help make this holiday a fun and memorable one,” said NRF Continue reading →

Promotions, Marketing, Pricing, Global, Supply chains, Product Distribution, Halloween, Holidays, Supply & Demand, Inflation

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, Chapter 16: Place and Promotion

How Warehouses Are Reshaping the Nation

October 21, 2022

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Earlier this week, we posted a video about a seemingly unremarkable highway corridor in Arizona that turned into a haven for enormous warehouses. Logistics hubs like these are becoming increasingly common around the U.S., from Southern California’s warehouse epicenter in the Inland Empire to multi-million square-foot facilities in Ohio and New York. Satellite images collected over the last 20 years show how warehouses have transformed acres of wide-open space into concentrated networks of huge buildings swarming with workers. In fact, Continue reading →

Logistics, Supply & Demand, Warehouses, Ethics, Unions, Supply chains, Labor Relations, Amazon, Product Distribution, E-commerce

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, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] Why Arizona Is Becoming a Logistics Hub

October 19, 2022

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On a stretch of highway near Phoenix, property developers have constructed dozens of industrial warehouses with millions of square feet in storage. These enormous Arizona facilities are attracting big companies like Amazon, UPS, Walmart, and many more tenants that are looking to avoid California supply chain bottlenecks. This video looks at the reasons why some businesses are starting to center their logistical operations in the American Southwest.

Questions:

What are the benefits and drawbacks for companies that use storage facilities Continue reading →

Operations Management, Logistics, Global, Facility Location, Supply & Demand, Warehouses, Arizona, Supply chains, Product Distribution

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

Hurricane Ian Upends Florida’s Real Estate Market

October 14, 2022

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Last month, Hurricane Ian devastated communities across the state of Florida, leading to more than 100 deaths and billions of dollars in damage. According to the catastrophe modeling firm RMS, privately insured losses are expected to reach as high as $67 million, making Ian second only to Hurricane Katrina in terms of economic destruction. Unlike previous storms like Katrina and Hurricane Andrew, however, today’s scientists blame climate change for the increasing regularity of severe weather events. That means experts see Continue reading →

Insurance, Natural Disasters, Risk Management, Hurricanes, Global, Florida, Real Estate, Climate change

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

[VIDEO] Why Oboes Are So Expensive

October 7, 2022

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This fascinating video takes a close look at the painstaking process for making oboes, a woodwind that stands out as one of the most expensive instruments in any orchestra. The artisans depicted below must contend with costly and dwindling supplies as well as limited demand from a small and selective market, factors that make this specialty business even more complicated.

Questions:

Why are the material costs for oboes so high compared to other instruments like flutes and clarinets?
How does Continue reading →

Entertainment, Music, Global, Product Distribution, Manufacturing, United Kingdom, Supply & Demand, Artisanal production, Labor costs, Product Development

Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Videos

Counterfeits Threaten Multi-Billion Dollar Sneaker Market

October 5, 2022

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The global sneaker market has grown into a massive $72 billion industry where collectors often accumulate hundreds of pairs of limited-edition shoes from giants like Nike and Adidas. Some lines go on to command huge prices on the resale market, such as a collaboration between Nike and ice cream maker Ben & Jerry’s called Chunky Dunky. Originally sold for $100, these shoes now sell for as much as $1,000. High price tags like these don’t just attract the attention of Continue reading →

Airbnb Guests Face Stress from Long Lists of Chores

September 23, 2022

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When Airbnb launched in 2008, the short-term rental company marketed itself as an easy alternative to hotels that had supposedly become too restrictive for the modern traveler. 14 years after its founding, however, many guests are heading back to hotels because of extensive cleaning requirements from Airbnb hosts. For example, teacher Christina Marie recently booked a short-term rental house on Lake Tahoe with her family of six. She spent the last day of her vacation cleaning and ensuring that her Continue reading →

Instagram Trails TikTok in Short-Video Market

September 20, 2022

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Over the years, Instagram has attracted hundreds of millions of daily users by providing a platform for people to share pictures and videos of their family and friends. Starting in 2020, though, the social network launched Instagram Reels, a short-video feature made to rival TikTok. Although Instagram’s parent company Meta has staked much of its future on Reels, internal company documents show that the feature is not very popular with users both large and small.

For example, Instagram users Continue reading →

Advertising, Marketing, Instagram, Social Media, Product Distribution, TikTok, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media