Ethics - McGraw-Hill Introduction to Business

Consumers Accuse Businesses of Price Gouging during Harvey

September 5, 2017

Since Hurricane Harvey made landfall in Texas a couple of weeks ago, the region has been hit with devastating floods that have upended the lives of millions. And although the waters are finally starting to recede in cities like Houston, that just means the serious cleanup work is about to begin. The financial forecasting firm Moody’s Analytics now estimates that Harvey inflicted as much as $108 billion in damage to the region. Thankfully, dedicated volunteers have been working around the Continue reading →

Ethics, Pricing, Regulation, Supply chains, Legal, Product Distribution, Natural Disasters, Hurricane Harvey, Price-Gouging

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 15: Distribution

Estimating the Economic Impact of Hurricane Harvey

August 29, 2017

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Over the weekend Hurricane Harvey landed in South Texas and began a cycle of major flooding that overwhelmed residents and emergency services. With thousands of people remaining in Houston and its surrounding communities during the storm, first responders spent a lot of time bravely searching for victims and pulling them out of the water. Media outlets then broadcast some of these stories to a shocked American public, leading to an outpouring of support and donations. (Click here for information on Continue reading →

Operations Management, Ethics, Natural Disasters, Risk Management, Hurricane Harvey, Hurricanes

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Bonus Chapter C: Managing Risk

Bitcoin Users Become Targets for Hackers

August 22, 2017

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When Bitcoin launched in 2008, a single unit of the mysterious cryptocurrency was worth just a little more than half a cent. Bitcoin’s value remained under a dollar for years afterward, leading many to wonder why anyone would invest in a strange new currency that couldn’t be controlled by any government or company. Besides being seemingly worthless, Bitcoin also operated through a decentralized network of computers whose owner was impossible to verify. This anonymity extended to Bitcoin’s users as well, Continue reading →

Ethics, Innovation, Currency, Security, Smartphones, Mobile, Cyberattack, Bitcoin

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media

[VIDEO] The Death and Life of Helicopter Commuting

August 18, 2017

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Instead of waiting in traffic, what if you could hop in a helicopter and commute to work in a matter of minutes? For a brief period in the 1970s people could do just that on New York Airways, a helicopter shuttle service that ferried folks around the city for as little as $5. Although a tragic accident quickly put an end to the industry, this video shows how advancements in technology could possibly allow helicopter shuttle companies to make a Continue reading →

Ethics, Product Development, Transportation, Drones, New York City, Commuting

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media, Videos

Crocs Loses Big in Patent Case

August 15, 2017

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Whether you love them or hate them, the foam clogs made by the Colorado-based Crocs are certainly distinctive. They can’t be called “unique,” however, at least according to the U.S. Patent and Trademark Office. A recent ruling from the government agency rejected the patent that Crocs has held on its signature shoes since 2006. Apparently another party had registered a similar design a year before, thus invalidating the original trademark.

The Patent Office’s decision may finally bring an end Continue reading →

Ethics, Product Development, Copyright, Legal, Trademark, Patent, Crocs, Footwear

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter A: Business Law

Wedding Dress Company’s Closing Causes Brides to Panic

July 24, 2017

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From now until the end of October, wedding season will be in full swing in the U.S. All over the country thousands of engaged couples are either ready to tie the knot or caught deep in the throes of the planning process. Of course, anyone who has taken part in a wedding knows just how agonizing they can be to organize. Whether it’s last minute cancellations from guests or caterers who can’t find the venue, weddings have a unique way Continue reading →

Management, Ethics, Legal, Product Distribution, Bankruptcy, Weddings, Alfred Angelo Bridal, Liquidation

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 15: Distribution, Bonus Chapter A: Business Law

Musicians Pile Pressure on YouTube for Streaming Revenue

July 20, 2017

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As sales from CDs and digital downloads continue to decline, streaming platforms like Spotify and Apple Music have become vital to the $7.7 billion music industry. Still, there’s one major streaming service that both executives and musicians alike have long despised. While it’s mostly known for video, YouTube accounts for 25 percent of all music streamed across the globe. This makes it by far the most popular streaming site among fans, a fact that industry insiders find increasingly troubling.

Services Continue reading →

Ethics, Product Development, Copyright, Entertainment, Pricing, Streaming, Music, Spotify, YouTube

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Big Dairy Companies Drive Down the Price of Organic Milk

July 6, 2017

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When people think of the organic food movement, their thoughts will often wander to images of upscale urban grocery stores and the fancy clientele that patronize them. But the early days of organic food production certainly wasn’t led by city slickers. In fact, more than 20 years ago a group of Amish farmers developed one of the nation’s first major organic agricultural operations. Centered around the small town of Kalona, Iowa, this collection of primarily dairy farmers has thrived on Continue reading →

Operations Management, Ethics, Entrepreneurship, Food, Product Development, Sustainability, Organic

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price

Cyberattack on Ukraine Quickly Spreads Across the Globe

June 29, 2017

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On Tuesday Roman Klimenko headed into his Kiev accounting office for work just like he does every day. A few hours after he opened his tax preparation software, however, something went horribly wrong. “The screen became red,” said Klimenko. “A warning appeared, and everything on the hard drive was scrambled.” In a matter of moments he lost all of his filings from last year.

This same situation played out across tens of thousands of Ukrainian computers in that same instant. Continue reading →

Operations Management, Global, Ethics, Security, Ransomware, Cyberattack, Ukraine

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

Canada’s Bootleg Trader Joe’s Finally Shuts Down

June 9, 2017

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Since 1967 customers have flocked to Trader Joe’s to stock up on such unusually named items as Quinoa Cowboy Veggie Burgers and Chocolate Dilemma Cheesecake. And while the grocery chain has attracted thousands of loyal patrons over the years, perhaps no other customer has been as dedicated as Mike Hallatt. For years this Vancouver native would drive 3 hours south of his Canadian hometown to Seattle where he would pack his car with as many Trader Joe’s products as he Continue reading →

Global, Ethics, Food, Branding, Retail, Canada, Knockoff products, Trademark, Trader Joe’s

Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution