Bonus Chapter B: Technology and New Media - McGraw-Hill Introduction to Business

[VIDEO] Shein’s Controversial Business Model Keeps Prices Low

December 1, 2023

The Chinese e-commerce giant Shein (pronounced Shee-In) controls more than 40 percent of the U.S. fast fashion market, with more than $8 billion in sales last year. This video explores how the retailer consistently churns out cheap shirts and dresses, which includes accusations of labor exploitation that has tarnished Shein’s image with some shoppers.

Questions:

How does Shein’s “small batch” production strategy differ from other clothing companies?
How has Shein tried to recover its reputation with U.S. consumers? Do Continue reading →

Black Friday Crowds Increase as Spending Drops

November 29, 2023

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The annual sales bonanza known as Black Friday now lasts for much longer than 24 hours, beginning in the days before Thanksgiving and continuing on through Cyber Monday. And while a record number of American consumers turned out at stores to check out this year’s bargains, they didn’t exactly spend a lot of money. According to data from the National Retail Federation, an estimated 200.4 million people shopped over the five days after Thanksgiving, amounting to more than 60 percent Continue reading →

Holidays, Cyber Monday, Supply & Demand, Sales events, Promotions, Retail, Pricing, Marketing, Product Distribution, Black Friday, E-commerce

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] How Target Uses Its Stores as E-commerce Centers

November 17, 2023

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With nearly 2,000 stores across the U.S., more than 75 percent of Americans live within ten miles of a Target. These brick and mortar locations have become surprisingly valuable assets for the company’s e-commerce business, with more than 95 percent of online orders originating from Target stores. This video goes into detail about the retailer’s logistical operations, including the local sortation centers Target is investing in to keep up with increasing demand.

Questions:

How does Target utilize nearly 2,000 Continue reading →

Transportation, Product Distribution, Target, E-commerce, Logistics, Supply & Demand, Product Development, Retail, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media, Videos

[VIDEO] How Electric Vehicles Could Affect the UAW’s Future

October 11, 2023

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Since the United Auto Workers (UAW) began striking against the Big Three car companies in September, the union has expanded its action to two more plants as workers continue to fight for better contracts. This video explains one of their central concerns: the expansion of automakers into the electric vehicle (EV) market. While members of the union are worried about their wages in an EV-driven future, American car companies fear that increased labor costs could make them uncompetitive with foreign Continue reading →

Global, Ethics, Product Development, Manufacturing, Cars, Unions, Transportation, Labor Relations, Strikes, Electric vehicles

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Videos

Retailers Question the Benefit of Self-Checkout

October 6, 2023

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Shoppers have two options when it comes to ringing up their items at the grocery store: pushing their cart to a cashier or opting for a self-checkout kiosk. The latter path became particularly popular during the pandemic when overwhelmed supermarkets sought to keep customers and employees at a distance. Store owners also figured that self-checkout stations would cut down on labor costs as shoppers did the scanning and bagging themselves. Walmart, for instance, retooled its cashier lanes to accommodate more Continue reading →

Product Distribution, Marketing, Self-checkout, Operations Management, Inventory loss, Product Development, Pricing

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

WGA and Hollywood Studios Reach Tentative Agreement

September 26, 2023

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For 146 days, members of the Writers Guild of America (WGA) have picketed in front of Hollywood movie and television studios, demanding increased financial security and more control over their work. Talks mostly broke down as the months stretched on, until last week when the two parties met over five straight days and brokered a tentative deal. Although this agreement still needs to be written into a contract and ratified by the WGA’s more than 11,000 members, industry observers Continue reading →

WGA, Management, Motivation, Product Development, Ethics, Entertainment, Unions, Streaming, Strikes, Film & Television

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] Why Car Companies Still Use Expensive Clay Models

August 25, 2023

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For nearly a century, car companies all over the world have built life-size clay models of vehicles in order to make all sorts of design decisions. But don’t let the humble materials fool you: luxury brands like Bentley often spend more than $650,000 to make just one model. This video looks at the benefits of building these pricey prototypes during the development process and why virtual reality tools won’t entirely replace clay anytime soon.

Questions:

What are the advantages Continue reading →

Global, Transportation, Manufacturing, Automation, Virtual reality, Product Development, Marketing, Cars

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Videos

MrBeast Sues Food Delivery Partner for “Low-Quality” Products

August 4, 2023

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The YouTube star Jimmy Donaldson, better known as MrBeast, is the video-sharing platform’s most popular creator, boasting more than 172 million subscribers and counting. Donaldson has parlayed his massive success on YouTube into numerous other businesses, including food brands like the snack line Feastables and MrBeast Burger. He co-founded the latter in 2020 after partnering with Virtual Dining Concepts, a company that specializes in serving food through “ghost kitchens.” These ventures take up residence in the kitchens of established restaurants Continue reading →

[VIDEO] Why Primark Is Thriving As Other Retailers Struggle

August 2, 2023

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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 →

“Barbenheimer” Bonanza Boosts the Economy

July 28, 2023

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Last weekend, the highly anticipated summer movie Barbie opened in theaters to rave reviews and huge ticket sales, earning $162 million in just a few days. Of course, Barbie wasn’t the only film to make a splash at the box office: the 3-hour long drama Oppenheimer also enjoyed a big weekend with domestic receipts totaling $82.5 million. The success of these two films follows months of viral marketing that made light of the stark differences between sunny and bright Barbie Continue reading →

Entertainment, Marketing, Advertising, Social Media, Movies, Unions, Hollywood, Word of Mouth, Strikes, Viral marketing

Chapter 1: Taking Risks and Making Profits, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media