Chapter 9: Production and Operations Management - McGraw-Hill Introduction to Business

Dow Jones Drops by Nearly 3,000 Points in One Day

March 17, 2020

Fears over the spread of coronavirus have upended daily life for millions of Americans and countless businesses. The CDC has recommended that organizations cancel any events with 50 or more people, and restaurants around the country are either switching to take-out only or closing entirely. As a result of the uncertainty surrounding this health crisis, financial markets around the globe are experiencing near-record drops in value. In fact, on Monday the Dow Jones Industrial Average plummeted by about 3,000 points, Continue reading →

Economics, Operations Management, Global, Ethics, Human Resources, Regulation, Dow Jones, Stocks, Health, Crisis management, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 19: Securities Markets

Major Sports around the World Temporarily Shut Down

March 13, 2020

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Due to concerns about the spread of coronavirus, representatives from athletic leagues across the globe have announced that they will temporarily halt play. On Wednesday, the National Basketball Association was the first to suspend competition after a player on the Utah Jazz tested positively for COVID-19. The next day, the National Hockey League similarly put games on hold while Major League Soccer delayed the start of its upcoming season as well. Shortly after these announcements, Major League Baseball canceled the Continue reading →

Management, Global, Ethics, Human Resources, Sports, Entertainment, Regulation, Health, Crisis management, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Bonus Chapter A: Business Law

Coronavirus Closures Lead to Layoffs

March 12, 2020

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Yesterday, the World Health Organization officially classified coronavirus as a pandemic, causing the Dow Jones Industrial Average to plummet by nearly 1,500 points. This rapid decline in the market has reversed more than a decade of expansion for the U.S. economy while companies around the world suffer from border closures and shutdowns. As a result, employees in many struggling industries are facing layoffs as business as usual grinds to a halt.

For instance, the Port of Los Angeles has Continue reading →

Demand for Hand Sanitizer Skyrockets by More than 1,000 Percent

March 10, 2020

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Last week we looked at how fears over coronavirus have caused major events to cancel and governments to restrict travel. Since then, organizers of South By Southwest have called off the festival while Italy has expanded emergency measures for the entire country. That means no public gatherings will be allowed in the Mediterranean nation along with a general ban on travel for all citizens unless they receive special permission. This global escalation of tensions surrounding the Covid-19 virus has Continue reading →

Global, Ethics, Manufacturing, Labor Relations, Pricing, Regulation, Supply chains, Health, Supply & Demand, 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 12: Labor Management and Unions, Bonus Chapter A: Business Law

Global Stocks Plummet Amid Coronavirus Fears

February 28, 2020

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Stock markets around the world have been falling dramatically all week due to fears surrounding the spread of the coronavirus. If global exchanges continue with this cycle of massive selloffs today, then the past week could represent the biggest stock market drop since the height of the 2008 financial crisis. And it’s not looking too good so far: “We’re drinking from a fireman’s hose this morning,” said Patrick Spencer, managing director at the investment firm Baird. “It wasn’t a good Continue reading →

Economics, Operations Management, Global, China, Supply chains, Health, Travel, 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 19: Securities Markets, Bonus Chapter A: Business Law

[VIDEO] Are Americans Ready to Love Trains Again?

February 21, 2020

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For much of the 19th and early 20th centuries, train travel was the primary mode of transportation for millions of Americans. Once cars and air travel rose to prominence, however, trains fell out of use in the U.S. while other European and Asian nations greatly expanded their railway capabilities. Along with looking at the history of American train travel, this in-depth video examines a modern company that wants to connect the nation with high-speed trains like so many other countries Continue reading →

NYC Lawmakers Rule that Stores Must Accept Cash

February 18, 2020

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Rather than worry about having cash on hand, many American consumers now prefer to use credit or debit cards as their preferred methods of payment. Companies are usually happy to oblige cashless customers since cards are easy to process and keep busy lines moving. In fact, a number of retailers and restaurants across the country have switched to cashless payment models that rely entirely on cards or mobile apps. According to consumer advocates and lawmakers, however, these businesses could be Continue reading →

Operations Management, Ethics, Pricing, Regulation, Legal, Product Distribution, Credit Cards, Money, Cash, Mobile Payments

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Chinese Factories and Retailers Struggle due to Coronavirus Fears

February 11, 2020

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A few weeks ago, the coronavirus outbreak in China caused countless businesses to shutter as the government also restricted travel throughout the country. Many companies announced plans to stay closed during an extended Lunar New Year holiday, which was supposed to end yesterday. But with many workers still unable to leave their hometowns, a number of manufacturers are pushing that date back. Volkswagen, for instance, will only reopen some of its plants in about a week due to complications with Continue reading →

Operations Management, Global, Human Resources, Manufacturing, China, Supply chains, Health, Product Distribution, Crisis management, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 15: Distribution

Macy’s Will Close 125 Stores and Lay Off 2,000 Employees

February 6, 2020

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As the country’s largest department store chain, Macy’s has hundreds of locations nationwide and earned more than $25 billion in sales in 2018 alone. Still, the last few years have not been easy for the retailer as more consumers turn to e-commerce outlets like Amazon for their shopping needs. Meanwhile, discount retailers like TJ Maxx and fast-fashion brands like H&M are also winning over shoppers with wide selections and great deals. After struggling to keep up with all of this Continue reading →

Operations Management, Human Resources, Retail, Pricing, Product Distribution, Layoffs, E-commerce

Chapter 1: Taking Risks and Making Profits, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Coronavirus Outbreak Could Have Major Economic Impact

January 31, 2020

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Last week, the world learned that a deadly, fast-moving disease called the coronavirus had appeared in several Chinese cities. The mysterious illness has already killed more than a hundred people and infected thousands more, leading the World Health Organization to declare the coronavirus a global health emergency. Despite its potentially worldwide implications, though, right now the disease is primarily localized in China. Along with placing entire cities on quarantine, Chinese authorities have also extended the annual Lunar New Year holiday Continue reading →

Operations Management, Global, Ethics, Human Resources, Manufacturing, China, Health, Crisis management, Coronavirus

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management