Chapter 4: Ethics and Social Responsibility - McGraw-Hill Introduction to Business

Approximately 140,000 Businesses Listed on Yelp Remain Closed

July 7, 2020

Over the last few weeks, restaurants and retailers across the country have gradually reopened with limited capacity, plexiglass barriers, and other anti-Covid restrictions. According to a recent study of the review site Yelp, however, approximately 140,000 listed businesses that closed in March remained shut down in June. What’s more, 41 percent of those companies have closed for good. Retailers accounted for the highest number of closures at 27,000. Coronavirus lockdown measures also majorly hurt restaurants, with 53 percent of closed Continue reading →

Ethics, Entrepreneurship, Promotions, Health, Product Distribution, Restaurants, Food & Drink, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 15: Distribution, Chapter 16: Place and Promotion

Investors Prepare for Stock Market Volatility

July 2, 2020

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During the first six months of 2020, U.S. stock markets went through their biggest quarter-to-quarter swing in more than 80 years. March saw share prices plummet as businesses across the country closed or altered their hours. Then an unprecedented round of economic stimulus from the federal government both halted the sell-off and sent stocks soaring to their best quarterly performance in nearly two decades.

With much of that relief now set to expire, however, where the markets go next Continue reading →

Economics, Ethics, Human Resources, Regulation, Health, Stock Market, Coronavirus

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

U.S. Billionaires Have Made $584 Billion During the Pandemic

June 30, 2020

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According to experts, the coronavirus pandemic has deepened economic inequality and expanded the racial wealth gap across the U.S. While the unemployment rate for white workers sits at 12.4 percent, the rate among black and Hispanic workers has gone up to 16.8% and 17.6% respectively. But while many poor Americans struggle to make ends meet, the wealth of the nation’s 614 billionaires has increased by $584 billion.

These top-end earners make most of their money on the stock market, which Continue reading →

Ethics, Unemployment, Regulation, Health, Stock Market, Coronavirus, Income Inequality

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 19: Securities Markets

Nearly 1.5 Million More People Filed for Unemployment for Last Week

June 26, 2020

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For the 14th week in a row, more than 1 million people filed for unemployment benefits as fallout from the pandemic continues to hurt workers across the nation. The last three weeks have each seen the number of newly unemployed Americans hover around the 1.5 million mark, an ominous sign that economic recovery could still be a long time coming.

Although some people have returned to work as states reopen, the rising number of coronavirus cases threatens to once Continue reading →

Economics, Ethics, Human Resources, Unemployment, Regulation, Health, Layoffs, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Uncertainty Abounds as States Reopen But Coronavirus Cases Rise

June 25, 2020

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After months on lockdown, states across the country have relaxed stay-at-home orders and allowed businesses to gradually resume operations. This slight return to normalcy caused the stock market to rally over the last few weeks to levels approaching its January 2020 highs. But even though many Americans are desperate to return to something resembling normal life, coronavirus remains a dangerous threat to public health. In fact, cases of infection have been steadily rising as states and businesses reopen.

As a Continue reading →

Economics, Operations Management, Global, Ethics, Regulation, Health, Product Distribution, Recession, 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 11: Human Resource Management, Chapter 15: Distribution, Chapter 19: Securities Markets, Bonus Chapter A: Business Law

AMC Theatres Plans to Reopen by July 15

June 23, 2020

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For months, movie theaters around the country have sat empty as Americans remained in their homes to curb the spread of coronavirus. With many businesses now gradually reopening, though, last week the nation’s largest film exhibitors also announced their plans for returning. AMC Theatres, for instance, will reopen by July 15th with a number of precautionary measures in place. Along with filling theaters to a maximum capacity of 30 percent, the company will also use advanced cleaning technology such as Continue reading →

Marketing, Operations Management, Ethics, Entertainment, Health, Product Distribution, Coronavirus, AMC Theatres

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 15: Distribution

[VIDEO] Why American Farmers Are Throwing Out Tons of Milk

June 19, 2020

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Back in April, we looked at how American dairy farmers were dumping thousands of gallons of milk due to drastic drops in demand from businesses and schools. This video illustrates how this problem has grown in the months since and offers potential solutions that could keep supplies and prices stable.

Questions:

How have dairy cooperatives responded to the supply crisis that was caused by the pandemic?
Do you think independent farmers should receive more relief from federal regulators? Why or why not?

Operations Management, Ethics, Regulation, Supply chains, Health, Product Distribution, Agriculture, Food & Drink, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law

Juneteenth to Become Paid Holiday at Major Companies

June 18, 2020

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Tomorrow is Juneteenth, a holiday that commemorates the end of slavery in the U.S. Although few major companies observed this day of remembrance in the past, many are now correcting this mistake in response to the protests that have been going on for weeks in cities across the country. Firms like Nike, Mastercard, Target, and Twitter recently announced that Juneteenth will become a paid holiday next year. Best Buy offered employees a “paid volunteer holiday” they can use this upcoming Continue reading →

Marketing, Operations Management, Ethics, Human Resources, Labor Relations, Promotions, Holidays, Juneteenth

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 16: Place and Promotion

Starbucks Will Close 400 Stores in Order to Focus on Takeout Business

June 16, 2020

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Before the pandemic, Starbucks cafes across the country bustled with people grabbing all sorts of caffeinated beverages before work. With millions of Americans now telecommuting, however, these once crowded coffee houses are not nearly as busy as they used to be. As a result, last week Starbucks announced that it would close hundreds of locations across North America and shift its focus to takeout orders.

“This repositioning will include the closure of up to 400 company-operated stores over the next Continue reading →

Marketing, Operations Management, Product Development, Health, Starbucks, Product Distribution, Food & Drink, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

1.5 Million People Applied for Unemployment Last Week

June 11, 2020

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Tens of millions of Americans have filed for unemployment during the coronavirus pandemic. This historically high number increased by another 1.5 million last week as many people continue to struggle to make ends meet. Although the gradual reopening of businesses has sent some back to work, nearly 21 million Americans are still receiving unemployment benefits. All together, more than 44 million people have applied for unemployment over the course of the pandemic.

“That means 29 percent of the workforce Continue reading →

Ethics, Human Resources, Labor Relations, Unemployment, Regulation, Federal Reserve, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law