Chapter 6: Entrepreneurship - McGraw-Hill Introduction to Business

What Happens to Staff When a Unicorn Startup Goes South

February 5, 2016

In Silicon Valley’s immensely competitive entrepreneurial environment, many startups end up failing shortly after they launch. But among these many fallen firms stand a few “unicorns,” or private tech companies with valuations worth more than $1 billion. At these lucky startups, the strategy is to increase the firm’s value as much as possible until it can be sold to the highest bidder. Not only does such a sale grant enormous payouts for founders and investors, it can also enrich regular Continue reading →

Ethics, Human Resources, Labor Relations, Silicon Valley, Venture Capital, Startups, Blackberry, Good Technology

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 8: Organizational Culture and Structure, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 19: Securities Markets, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Bitter Backlash Against Mast Brothers’ Chocolate

February 3, 2016

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For almost a decade, the Brooklyn chocolate company Mast Brothers seemed to embody the New York borough’s newfound artisanal spirit. Touting their product as handcrafted “bean-to-bar” chocolate, founders Rick and Michael Mast took center stage in marketing campaigns that celebrated their candy’s quality and authenticity. Dressed in antiquated suits and sporting long Civil War-era beards, the pair soon became just as famous for their appearance as their $9 candy bars. But this meticulously crafted image may have been spoiled for Continue reading →

Marketing, Ethics, Food, Product Development, Branding, Candy, New York, Mast Brothers, Brooklyn, Crisis management

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 16: Place and Promotion

Innovation’s Reward and the Hoverboard

February 1, 2016

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For many inventors, creating a machine that’s functional as well as popular can feel like striking gold, even if the actual material reward for their work isn’t exactly golden. That’s the situation Shane Chen found himself in since inventing the “hoverboard,” a two-wheeled, Segway-like vehicle that doesn’t quite float but has nevertheless been flying off the shelves. Unfortunately for Chen, many consumers are buying hoverboards from companies that have not paid him for his patented design. Instead, consumers are taking Continue reading →

Global, Ethics, Entrepreneurship, Manufacturing, Product Development, Pricing, Innovation, China, Hoverboard

Chapter 1: Taking Risks and Making Profits, 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, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Disney Faces Investigation for Forcing Out American Workers

January 27, 2016

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For years, skilled workers from around the world have used H-1B visas as their tickets into the U.S. These visas are intended to provide companies with a pool of specialized foreign labor in case they can’t find any qualified domestic candidates. According to a recent lawsuit, however, one of the world’s biggest brands may have been abusing the H-1B system in order to boost their own bottom line. Rather than filling open positions with outsourced labor, The Walt Disney Company Continue reading →

Global, Ethics, Human Resources, Labor Relations, Immigration, Regulation, Disney

Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Texas Plumber Sues Dealership for Shocking Truck Mix-up

January 20, 2016

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Last year we featured a post about the unfortunate case of Texas plumber Mark Oberholtzer. In need of a better truck for his business, he took his old Ford F-250 to a local dealership and traded it in for a newer model. The plumber didn’t give the transaction a second thought until about a year later when the complaints started rolling in. Due to the extraordinarily complicated nature of the global auto resale market, Oberholtzer’s truck somehow ended up in Continue reading →

Global, Ethics, Texas, Distribution, Cars, Supply chains, Transportation, Middle East

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law, Bonus Chapter C: Managing Risk

Picking the Best Web Address Out of What’s Left

May 24, 2015

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In today’s Internet-centric world, companies of all kinds must establish a professional web presence or run the risk of wasting away in the dark ages. Accomplishing this task is often easier said than done, though, especially when it comes to setting up a website compared to a social media profile. Not only do websites require knowledge of coding and design in order to work, but they also need to have a logical URL address so users can easily access it. Continue reading →

Marketing, Entrepreneurship, Silicon Valley, Product Development, Branding, Small Businss

Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

OnDeck Capital’s Controversial Lending Practices

May 15, 2015

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Even though the effects of the recession have eased in the last few years, some small businesses still can’t find banks willing to lend them money. After all, many financial institutions are looking to invest in established companies with little to no risk involved, qualities that most small businesses simply do not have. That’s where OnDeck Capital comes in. This lending startup touts itself as a disruptive financial force that can make loan assessments and send cash to companies within Continue reading →

Ethics, Innovation, Banking, Finance, Small Business, OnDeck Capital

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 17: Accounting, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Fringe Benefits of Crowdfunding

May 12, 2015

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In the past few years, crowdfunding sites like Kickstarter and Indiegogo have become dependable sources of capital for all types of ventures. 2013 alone saw startups and artists collect more than $5.1 billion in crowdfunded cash. But businesses can receive more benefits from a successful crowdfunding campaign than just money. For instance, a startup selling a Bluetooth-enabled padlock raked in $652,000 in just one month on Kickstarter. Besides the investment windfall, contributors also sent the company offers of help with Continue reading →

Benefits, Product Development, Innovation, Finance, Crowdfunding, Kickstarter, Cycling

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 16: Place and Promotion, Chapter 17: Accounting, Chapter 18: Financial Management, Bonus Chapter B: Technology and New Media

The Growing Importance of Hacker Insurance

February 26, 2015

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The recent hacks of Sony and Home Depot show just how much damage data breaches can do to big businesses. But a company doesn’t have to be multinational in order to attract the eyes of hackers. In fact, experts estimate that 44 percent of small businesses have been the victims of cyber attacks. According to the National Small Business Administration, each breach costs companies an average of $8,700 in damages.

“Cybercrime is in the news all the time, but there’s Continue reading →

Ethics, Innovation, Security, Small Business, Crime, Insurance, Mobile

Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

The Spotlight Fades on Rockstar Energy

February 19, 2015

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Even though Rockstar wasn’t the first energy drink to hit the market, it didn’t take long for the brand to make a big impact in a crowded field. Consumers quickly responded to Rockstar’s affordable price and large serving size, which set the brand apart from more exclusive products like Red Bull. During its first six years, revenue at Rockstar soared as high as $405 million while it grew at an average annual rate of 103 percent.

By 2007, however, the Continue reading →

Management, Entrepreneurship, Food, Product Development, Rockstar

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion