Entrepreneurship - McGraw-Hill Introduction to Business

[VIDEO] How Kodak Invented the “Snapshot”

October 10, 2024

Photography was once a specialized field where only trained professionals had the expertise to shoot and develop prints. Then in the late 19th century, Kodak released the first of many “point-and-shoot” cameras that would change the industry forever. The video below explores the fascinating history behind the “snapshot” and how technological innovations can bring niche products to a wider market.

Questions:

How did the introduction of point-and-shoot cameras change the photography market?
Do you see any similarities between the Continue reading →

Pokémon Creators Sue “Copycat” Game Palworld for Patent Violations

October 2, 2024

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While Microsoft is staking the future of Xbox on cloud gaming, Nintendo has long depended on iconic properties like Mario and Pokémon to drive sales of its video game consoles. In fact, the Japanese company has been infamous for filing lawsuits to protect its intellectual property for about as long as video games have been around. In one notable example from the 1980s, Nintendo sued Blockbuster for copyright infringement after the video rental chain added games to its lineup Continue reading →

Marketing, Global, Product Development, Ethics, Entertainment, Entrepreneurship, Product Distribution, Video Games, Patents, Copyright infringement

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 B: Technology and New Media

Bad Weather and Competing Crops Hurt the Coffee Industry

September 20, 2024

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When it comes to global commodities like coffee beans, even the slightest change in the environment or the economy can drastically change prices and supplies. That’s what happened in 2021 when a sudden and severe frost in Brazil destroyed 500,000 acres of coffee plantations, sending prices for unroasted coffee beans soaring. The extensive damage reduced the country’s coffee production by more than 10 million bags annually for three consecutive years. Brazil is the world’s largest producer of Arabica beans, the Continue reading →

Global, Agriculture, Entrepreneurship, Food & Drink, Supply & Demand, Product Development, Operations Management, Product Distribution

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

The Ups and Downs of Earning Ad Revenue on YouTube

September 18, 2024

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One of the reasons why many content creators are drawn to YouTube is the money they can make from advertisements. Brands buy ads that roll before or during videos, and creators get a share of that revenue based on the number of views. The more views and subscribers a channel gets, the more ad dollars the creator can get. YouTube handles all the ad sales, so creators don’t have to spend time negotiating directly with brands like they do for Continue reading →

Product Development, Marketing, Branding, Entrepreneurship, Advertising, Social Media, Product Distribution, YouTube

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

Cash-Strapped Customers Lead to Declining Sales at Dollar Stores

September 10, 2024

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Dollar stores are famous for low prices. Even when economic times get tough, discount retailers usually continue to do well because they draw customers looking to pay less than they would in a typical store. But that’s changing as customers have less money to spend, and now dollar stores are struggling to stay in business. For instance, Family Dollar recently announced it will close 1,000 stores over the next several years while 99 Cents Only filed for bankruptcy this year Continue reading →

Marketing, Promotions, Entrepreneurship, Pricing, Product Distribution, Supply & Demand, Inflation, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Ice Cream Trucks Struggle to Keep Sales Sweet

September 6, 2024

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Although summertime is drawing to a close and jack-o-lanterns are already starting to appear, meteorologists say that most of the country can still expect plenty of hot days to come. And when the temperature is high, there’s nothing quite like ice cream to stay cool. That’s why for nearly a century, ice cream trucks have roamed neighborhoods across the country serving customers of all ages looking to beat the heat.

In 1926 Good Humour became the first brand to Continue reading →

Marketing, Operations Management, Franchising, Product Development, Entrepreneurship, Product Distribution, Food & Drink, Supply & Demand, Seasonal businesses

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Theme Parks and Retailers Get an Early Start on Halloween

September 4, 2024

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September may have just begun, but Halloween has already arrived. The late-October holiday known for costumes and lots of candy has become an increasingly lucrative occasion for businesses like theme parks and retailers. “[Halloween] has become this time of the year that’s grown in explosive ways,” said Edithann Ramey, chief marketing officer at Six Flags. “It’s become a billion-dollar industry in the last five years.” With 45 percent of consumers saying they’ll start Halloween shopping before October this year, businesses Continue reading →

Holidays, Supply & Demand, Seasonal businesses, Promotions, Marketing, Entertainment, Entrepreneurship, Product Distribution, Halloween

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

[VIDEO] How the Pandemic Began a “Pop-Up” Restaurant Boom

August 29, 2024

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The onset of the Covid-19 pandemic brought the restaurant industry to a standstill as countless kitchens closed and diners largely remained at home. But that didn’t stop some entrepreneurs from finding opportunities in this chaotic situation. The video below breaks down the boom of “pop-up” restaurants that flourished during the pandemic thanks to low overhead and mobile setups that met customers closer to where they lived.

Questions:

How did the pandemic change the restaurant industry?
What are some advantages Continue reading →

Video Game Actors go on Strike against AI

August 27, 2024

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Just like movie studios, video game makers need actors and animators to bring their creations to life. While voice actors perform sound effects and dialogue, motion capture actors wear special suits with markers to record movements like walking, running, climbing, and fighting. Animators then link those sounds and images together to create an immersive and engaging environment for the player.

But all that’s starting to change with AI, which can use actors’ previous performances as digital reference points to generate Continue reading →

Ethics, Entrepreneurship, Product Development, Unions, Entertainment, Product Distribution, Video Games, Strikes, AI, Motivation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 10: Motivation, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

New Startup Markets Methane-Eating Microbes to Eco-Friendly Companies

August 21, 2024

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For decades, many big businesses have tried to go green by reducing their carbon emissions. Companies like Amazon, Microsoft, and Nike have made “net-zero” pledges over the years that promise to remove as much carbon dioxide from the atmosphere as they put into it. While some firms try to go carbon-neutral by reducing their emissions directly, others pay for carbon removal projects — such as planting trees or building solar panels — to offset emissions.

But carbon dioxide isn’t the Continue reading →

Marketing, Operations Management, Product Development, Ethics, Product Distribution, Entrepreneurship, Agriculture, Food & Drink, Supply & Demand, Climate change, Carbon Emissions

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution