Innovation - McGraw-Hill Introduction to Business

The FCC’s Big Net Neutrality Decision

March 1, 2015

Over the last few years, net neutrality has appeared as a subject of debate everywhere from Internet forums to the highest levels of government. As of February 26, 2015 however, the Federal Communications Commission may have ended the discussion once and for all. On that day, the FCC voted to classify Internet providers as public utilities, thus preventing them from extending better service to websites who pay more money. The decision was a victory for the Internet’s many net neutrality Continue reading →

Innovation, Regulation, Product Distribution, FCC, Net Neutrality, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Growing Importance of Hacker Insurance

February 26, 2015

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The recent hacks of Sony and Home Depot show just how much damage data breaches can do to big businesses. But a company doesn’t have to be multinational in order to attract the eyes of hackers. In fact, experts estimate that 44 percent of small businesses have been the victims of cyber attacks. According to the National Small Business Administration, each breach costs companies an average of $8,700 in damages.

“Cybercrime is in the news all the time, but there’s Continue reading →

Innovation, Security, Small Business, Crime, Insurance, Ethics, Mobile

Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

How GameStop Could Keep Going

February 23, 2015

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Like many other brick-and-mortar retailers, GameStop’s long-term financial health depends on how much damage the Internet can ultimately do to its bottom line. For years, though, the video game retailer seemed almost immune to the effects of web retail. Prices remained competitive thanks to the company’s dependence on reselling used games and consoles while its knowledgeable sales staff ensured that regular customers stayed happy.

Still, many experts are predicting that GameStop will go the way of Blockbuster sooner or later. Continue reading →

Product Development, Entertainment, Retail, Innovation, Product Distribution, GameStop, Video Games

Chapter 1: Taking Risks and Making Profits, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

AngelList Democratizes Venture Capital

February 9, 2015

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At most Silicon Valley startups, the entrepreneur takes the role of the hero in stories about a company’s founding. Arguably, though, the venture capitalist that funds the business from the beginning also plays a huge role in its success. After all, an entrepreneur can have a million dollar idea but still lack the $1 million investment she’d need to start the company. This dependence on seed capital can become a source of great frustration for entrepreneurs. While someone can spend Continue reading →

Innovation, Crowdfunding, Venture Capital, Startups, Financing, Silicon Valley

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 18: Financial Management

How Silicon Valley Attracts the Best Talent

January 14, 2015

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For more than a decade Silicon Valley has been the go-to destination for ambitious young professionals looking to make a big name for themselves. After all, the Bay Area suburb is home to tech giants like Google, Apple and Facebook that offer huge starting salaries and even nicer perks. But there are plenty of opportunities for talented careerists beyond the Valley’s most notable names. Startups tend to attract many young coders and engineers as well, even though they don’t pay Continue reading →

Innovation, Management, Hiring, Human Resources, Startups, Compensation, Benefits, Silicon Valley

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 10: Motivation, Chapter 11: Human Resource Management, Bonus Chapter B: Technology and New Media

AMC Tests a Monthly Movie Pass

January 5, 2015

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Movie theaters have worried about being phased out by home entertainment even before the VCR started dominating living rooms in the 1980s. While Hollywood has largely continued to thrive over the decades despite these fears, today the rise of streaming video presents movie theaters with their greatest challenge yet. The industry is especially afraid of losing touch with young moviegoers who are growing up with on-demand services like Netflix and Spotify. The cracks may already be showing: attendance of movie Continue reading →

Innovation, Product Distribution, Marketing, Movies, Subscription, Promotions, Entertainment

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

Bloomingdales Makes Fitting Rooms Smarter

December 19, 2014

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Fitting rooms provide brick and mortar clothing retailers with one of their few advantages over online outlets. After all, consumers are more likely to purchase an item that they have actually tried own versus something they’ve only seen on a screen. But that doesn’t necessarily mean people will buy everything they bring with them into the changing room. In fact, many consumers will simply give up on an item if it doesn’t fit them immediately.

In order to reverse these Continue reading →

Bloomingdales, Social Media, Product Development, Retail, Innovation

Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Accounting for Time in Online Ad Pricing

December 15, 2014

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In the world of online advertising, the “click” is king. That’s because nearly every major website bases its ad rates on the number of hits it receives over a specific span of time. The idea is to attract potential clients by emphasizing how much traffic the website receives. But just because clicks act as currency in mobile marketing doesn’t mean that they’re reliable indicators of an ad’s effectiveness. After all, a person could have spent ten seconds or ten minutes Continue reading →

Innovation, Advertising, Data Mining, Marketing, Pricing

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

Spokesbots Start Connecting with Consumers

December 13, 2014

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In past posts, we’ve taken a look at the rise of mobile ads and how they were starting to beat out older forms of media for marketing dollars. Despite this growing dominance, however, the overall effectiveness of mobile ads remains suspect. For many they’re little more than a nuisance, something along the margins of the screen that can be easily ignored. Others see them as an intrusion on their privacy given the way that many mobile ads target certain Continue reading →

Branding, Innovation, Automation, Kik, Marketing, Social Media

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

Pivoting from One Business Plan to Another

December 10, 2014

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When Michael Garrity founded CommunityLend in 2010, he thought his company was in a perfect position to capture an untapped market. After all, the 2008 financial crisis made many banks wary of lending too much cash, presenting a golden opportunity to non-traditional operations like CommunityLend. Plus, the company’s peer-to-peer model was the first of its kind in Garrity’s home country of Canada, marking a major advantage for the startup.

Despite these benefits, though, CommunityLend had trouble finding qualified borrowers for Continue reading →

Retail, Entrepreneurship, Innovation, Social Media, Finance

Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 8: Organizational Culture and Structure, Chapter 11: Human Resource Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media