Entrepreneurship - McGraw-Hill Introduction to Business

Fake Online Reviews Become More Common with AI

January 22, 2025

When online reviews first started in the late 1990s, shoppers used them to compare their purchases with each other instead of relying on the seller’s description or an expert recommendation. Directory sites like Yelp and Trustpilot grew their user bases by incentivizing contributors to leave authentic reviews for restaurants, doctors, and just about any public-facing business. But online reviews created a new problem: fake reviews. Businesses hired brokers to recruit people to write false reviews — either positive ones to Continue reading →

Marketing, Ethics, Entrepreneurship, Social Media, Product Distribution, Artificial Intelligence, AI, Product reviews

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 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

[VIDEO] How Shopping Malls Are Being Transformed Into Apartments

December 11, 2024

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After decades of decline, many American malls are continuing to struggle as former anchor stores like Macy’s, JCPenney, and Sears either close locations or go out of business entirely. With lots of open space on their hands, at least 192 malls are experimenting with housing in an attempt to bring life back to dying retail spaces. The video below explains the logistics of mall-based apartments, which can be located close to restaurants and shops but also lack basic amenities like Continue reading →

Marketing, Entrepreneurship, Product Development, Retail, Product Distribution, Malls, Supply & Demand, Housing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Videos

[VIDEO] How TGI Fridays Became a Shell of Its Former Self

November 22, 2024

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In the 1980s, the casual restaurant chain TGI Fridays skyrocketed to success thanks to its singles-bar atmosphere and talented bartenders who performed tricks while pouring drinks. As the company expanded, however, it rebranded into a family restaurant, starting a long decline for the once-promising brand. This video looks at the rise and fall of TGI Friday’s, which finally filed for bankruptcy this month after a long search for a savior.

Questions:

How did TGI Friday’s change after it rebranded from Continue reading →

Marketing, Franchising, Entrepreneurship, Product Development, Branding, Promotions, Product Distribution, Food & Drink, Supply & Demand

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

Soaring Chocolate Prices Impact Businesses around the Globe

November 8, 2024

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A few weeks ago, we looked at how rising cocoa prices led to price increases for chocolate just before the Halloween season. The video below examines this global issue in great detail, from the struggles of cocoa farmers in Ghana to the effects of rising costs both on independent operators and major candy producers like Mars Wrigley.

Questions:

What are some of the issues affecting the livelihoods of Ghanaian cocoa farmers?
How are independent businesses like Li-Lac Chocolates responding Continue reading →

Nobody Knows What to Do with Bankrupt Redbox’s Rental Kiosks

November 5, 2024

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Redbox launched its video rental kiosk business back in the early 2000s when the industry was still dominated by chains like Blockbuster. While brick-and-mortar stores charged $2 to $5 per night, customers could rent movies at Redbox for just $1 since the kiosks were much cheaper to maintain than physical locations. Customers also liked that Redbox operated 24/7, functioning more like a vending machine than a retailer. By 2007, the company had more U.S. locations than Blockbuster. Redbox peaked in Continue reading →

Rising Costs and Reluctant Customers Hurt Music Festivals

October 29, 2024

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With sunny weather, beautiful views, and lots of open space, California is one of the country’s most popular settings for music festivals. Thousands of people travel to the Golden State every summer to attend dozens of festivals — including Coachella, the most-attended annual music festival in North America. However, it’s getting more expensive to run a music festival in California as the cost of living keeps going up. Prices for transportation, accommodations, labor, and refreshments have skyrocketed above the typical Continue reading →

Marketing, Entrepreneurship, Promotions, Entertainment, Pricing, Music, Product Distribution, Supply & Demand, Inflation

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

[VIDEO] Why Walgreens And CVS Are Shutting Down Thousands Of Locations

October 24, 2024

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Walgreens and CVS stores are common sights on American street corners, but in the coming years there will be significantly fewer of them around. The video below takes a detailed look at the recent struggles faced by U.S. pharmacy chains as they plan to shut down thousands of locations nationwide.

Questions:

Why are Walgreens and CVS closing thousands of stores over the coming years? What are some factors that have contributed to their problems?
How can entrepreneurs help prevent “pharmacy deserts”?

23andMe Struggles to Turn Customers Into Subscribers

October 15, 2024

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Since the discovery of DNA’s structure in the 1950s, scientists have predicted a future where doctors could analyze a patient’s genes to identify and even prevent certain diseases. The medical industry seemed to be moving closer to that goal in 2007 when 23andMe became the first company to release a direct-to-consumer genetic test. Named for the 23 pairs of chromosomes in human DNA, 23andMe analyzed saliva samples from customers to show their ancestry and predispositions to diseases like cancer and Continue reading →

Marketing, Ethics, Entrepreneurship, Product Development, Pricing, Startups, Product Distribution, Subscriptions, Genetics

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 15: Distribution, Bonus Chapter B: Technology and New Media

[VIDEO] How Kodak Invented the “Snapshot”

October 10, 2024

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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, Ethics, Entrepreneurship, Product Development, Entertainment, 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