Innovation - McGraw-Hill Introduction to Business

Trading Pits Become a Thing of the Past

July 30, 2015

Trading commodities is a complicated business. Employees in the industry not only have to possess financial intelligence, they also must be able to seemingly predict the future based solely on projections and estimates. For years traders like these thrived in the “pits” of Chicago and New York’s stock exchanges, shouting about everything from livestock to produce as they searched for deals. These financial foot soldiers eventually became pop culture icons, with frantically yelling floor traders appearing in everything from serious Continue reading →

Innovation, Finance, Product Distribution, Wall Street, Human Resources

Chapter 2: Economics, Chapter 10: Motivation, Chapter 17: Accounting, Chapter 19: Securities Markets

Zappos Goes Bossless

July 11, 2015

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The online shoe retailer Zappos has always set out to be an innovative employer as well as a successful business. Along with quality benefits and perks, CEO Tony Hsieh grants his staff the freedom to do their jobs according to their terms. In fact, recently the Zappos boss put a radical new corporate structure into place that eliminates all traditional managers or job titles. Instead of a traditional hierarchy, employees now work in “circles” that encourage more collaboration and agility. Continue reading →

Labor Relations, Benefits, Innovation, Zappos, Management, Human Resources

Chapter 5: Forms of Business Ownership, Chapter 8: Organizational Culture and Structure, Chapter 10: Motivation, Chapter 11: Human Resource Management

Alienating Customers with DRM

June 25, 2015

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Ownership of private property is one of the United States’ oldest economic principles. But like many other seemingly everlasting ideas, modern technology has enabled companies to put this concept to the test. For instance, a few years ago Keurig’s single-cup coffeemakers became a big hit with consumers. Rather than brew an entire pot of coffee, those in need of a jolt simply place a small pod of grounds into the machine and wait a few seconds for their drink to Continue reading →

Product Development, Innovation, Security, Product Distribution, Ethics, DRM, Keurig, John Deere

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

Geotagging Fish to Prevent Fraud

June 21, 2015

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For many environmentally conscious diners, where their food comes from is almost as important as the food itself. Followers of the “farm-to-table” movement try to avoid items made on industrial-scale factory farms in favor of locally produced, organic goods. Over the years this concept has expanded from the stands at local farmers’ markets and into mainstream foodie culture. But while this concept works for farm-cultivated products like vegetables, beef and poultry, following fish from “ocean-to-table” is trickier to pull off. Continue reading →

Ethics, Innovation, Food, Fishing, Product Distribution, Shellcatch

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Italian Artisans Thrive with 3D Printing

June 17, 2015

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In the 1960s Northeast Italy’s artisans banded together to form small family-owned businesses that depended closely on one other. Each company manufactured a single part of a finished product that held the entire town’s attention. For instance, the tiny burg of Montebelluna specialized in making ski boots, with dozens of companies contributing parts like buckles and foam linings. The town eventually became famous for its high quality footwear, producing about three-quarters of the world’s ski boots at its height. One Continue reading →

Entrepreneurship, 3D Printing, Manufacturing, Product Development, Innovation, Global, Italy

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 5: Forms of Business Ownership, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Bonus Chapter B: Technology and New Media

Marketers Grow Accustomed to Facial Analysis

May 31, 2015

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Unless you’re a professional poker player, chances are that people can tell a lot about your mood just by looking at your face. After all, every furrowed brow or slight frown speaks volumes as the human face’s 43 separate muscles constantly communicate with the world around it. Recently, researchers have developed technology that can analyze all those muscles in detail, potentially unlocking the mystery of the many emotional cues hidden within our faces.

This information is especially interesting to a Continue reading →

Innovation, Consumer Research, Data Mining, Marketing, Affectiva

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter B: Technology and New Media

OnDeck Capital’s Controversial Lending Practices

May 15, 2015

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Even though the effects of the recession have eased in the last few years, some small businesses still can’t find banks willing to lend them money. After all, many financial institutions are looking to invest in established companies with little to no risk involved, qualities that most small businesses simply do not have. That’s where OnDeck Capital comes in. This lending startup touts itself as a disruptive financial force that can make loan assessments and send cash to companies within Continue reading →

Innovation, Banking, Ethics, Finance, Small Business, OnDeck Capital

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 17: Accounting, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Fringe Benefits of Crowdfunding

May 12, 2015

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In the past few years, crowdfunding sites like Kickstarter and Indiegogo have become dependable sources of capital for all types of ventures. 2013 alone saw startups and artists collect more than $5.1 billion in crowdfunded cash. But businesses can receive more benefits from a successful crowdfunding campaign than just money. For instance, a startup selling a Bluetooth-enabled padlock raked in $652,000 in just one month on Kickstarter. Besides the investment windfall, contributors also sent the company offers of help with Continue reading →

Innovation, Finance, Benefits, Crowdfunding, Kickstarter, Cycling, Product Development

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 16: Place and Promotion, Chapter 17: Accounting, Chapter 18: Financial Management, Bonus Chapter B: Technology and New Media

Credit Cards Switch from Strip to Chip

May 8, 2015

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Over the last few years, large retailers have become increasingly vulnerable to attacks by hackers looking to steal important company and customer data. In order to prevent these breaches, stores across the nation are upgrading to new credit card readers that scan an embedded chip rather than the card’s magnetic strip. Each transaction on a chip-card receives its own unique code, making shopping safer for consumers and companies alike. 575 million of these new cards are expected to land in Continue reading →

Currency, Credit Cards, Product Development, Retail, Innovation

Chapter 1: Taking Risks and Making Profits, Chapter 15: Distribution, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media

Some Smartphone Deposits Post at a Snail’s Pace

May 5, 2015

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On the surface, mobile check deposits are about as convenient as banking can get. After all, one only needs to endorse the check, snap a few smartphone photos of it, and send it off to the bank through an app. No interactions with tellers or pneumatic tube machines are required— simply forward the photos and wait for the check to clear.

In some cases, however, that last step isn’t so easy. Depending on the financial institution, mobile check deposits can Continue reading →

Walmart, Ethics, Smartphones, Mobile, Innovation, Banking, Finance

Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 17: Accounting, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media