Supply & Demand - McGraw-Hill Introduction to Business

Prices for Gas, Food, and Shelter Continue to Climb

April 12, 2022

According to the Bureau of Labor Statistics, in March 2022 consumer prices rose by 8.5 percent compared to the same period last year, amounting to the largest increase since 1981. Not only must businesses contend with pandemic-related supply chain issues that have persisted for well over a year, but also Russia’s invasion of Ukraine has led to spiking fuel and food costs. As a result, inflation continues to rise alongside prices for essential goods like housing, groceries, and gasoline. Continue reading →

Russia, Operations Management, Supply chains, Global, Energy, Ethics, Product Distribution, Oil, Ukraine, Supply & Demand, Gas prices, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution

Businesses Suffer Blowback from Russia Sanctions

April 5, 2022

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After the invasion of Ukraine last month, thousands of companies around the world either ceased operations in Russia or started divesting from the aggressor nation. This corporate response to the invasion followed a string of sanctions by governments around the world who intended to deal an economic blow to Russia. But cutting financial ties with the country has also led to some unexpected ripple effects on small businesses as well as multinational companies who must adjust to this complicated situation. Continue reading →

Supply & Demand, Operations Management, Global, Retail, Ethics, Russia, Entrepreneurship, Product Distribution, Manufacturing, Ukraine

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 15: Distribution

[VIDEO] The Big Business of Growing and Selling Houseplants

March 31, 2022

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Sales of houseplants skyrocketed during the onset of the pandemic, and ever since growers around the world have struggled to keep up with ever-increasing demand. Not only are they reaching production capacity, but growers are also in a race against time to get their plants to market before they die on store shelves. This video takes a detailed look at the advanced growing techniques used on modern houseplant farms as well as the flood of TikTok-driven demand that growers must Continue reading →

Gas Prices Increase at Fastest Rate on Record

March 25, 2022

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Anyone who’s had to fill up their car lately knows how the cost of gas has shot through the roof in recent weeks. According to the U.S. Energy Information Administration (EIA), the average price per gallon increased to $4.24 on Monday, the highest rate in more than four decades. Although the inflation-adjusted price does not quite reach the heights of the 1970s energy crisis, consumers must nevertheless deal with the largest month-to-month gas price increases on record.

Some parts Continue reading →

Russia, Energy, Oil, Operations Management, Ukraine, Global, Supply & Demand, Manufacturing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management

Big Competitors Overtake Oatly’s Market Share

March 15, 2022

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The Swedish company Oatly began making oat milk in the early 1990s and steadily grew a dedicated following among health conscious European consumers. But the beverage really took off in the late 2010s when Americans got in on the craze, sending Oatly’s sales soaring and attracting interest from high-level investors. To enable the brand to grab market share while it was available, Oatly received major investments from companies like Blackstone Group as well as celebrities like Oprah Winfrey and Jay-Z. Continue reading →

Global, Product Development, Entrepreneurship, Branding, Manufacturing, Food & Drink, Supply & Demand, Marketing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] What Insects Can Learn From Lobsters About Rebranding

February 18, 2022

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Chowing down on a big bowl of crickets probably doesn’t sound very appetizing, does it? According to a range of experts interviewed in the video below, though, our disgust at the thought of eating insects might just be a matter of perception. This extensive report from the New York Times shows how lobsters went from disgusting to delicious in the eyes of American eaters, a branding journey that bugs might also take in the near future.

Questions:

What are some Continue reading →

Avocado Prices Soar in Lead-up to Super Bowl

February 8, 2022

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With Super Bowl LVI less than a week away, football fans around the country are stocking up on snacks and drinks for Sunday’s big game. In fact, each year Americans eat more than 112 million pounds of snacks during the Super Bowl, with the most popular items being potato chips, pretzels, and tortilla chips. Although these items will be available and affordable as ever this year, economists at Wells Fargo estimate that the cost of fresh items like salsa and Continue reading →

Sports, Entertainment, Pricing, Global, Product Distribution, Super Bowl, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Omicron Variant Brings New Problems to Backlogged Supply Chain

January 20, 2022

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Although heavy traffic in U.S. ports did not end up canceling Christmas last year, the supply chain crisis still led to some empty shelves and expensive items as companies struggled to obtain needed inventory. Now that the holiday shopping season is long over, however, some officials are optimistic that the worst has passed as ports in Southern California work through their backlogs and shipping costs drop from their September 2021 highs. But like so many other aspects of American Continue reading →

Manufacturing, Transportation, Labor Relations, Product Distribution, Shipping, Supply & Demand, Collective bargaining, China, Global, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Chapter 15: Distribution

Taco Bell Creates Subscription Taco Service

January 18, 2022

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With so many different products and services on offer these days, it can be difficult for companies to convince customers to purchase a product more than once. And since repeat business is the lifeblood of any enterprise, many firms have turned to subscription models to ensure that they receive steady sources of revenue. Streaming platforms like Netflix and Disney+ stand out as some of the most recognizable subscription services, while brands like Peloton adopted this model for the home fitness Continue reading →

Product Development, Promotions, Fast food, Taco Bell, Marketing, Food & Drink, Supply & Demand, Mobile marketing

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

Apple’s Valuation Soars over $3 Trillion

January 4, 2022

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In August 2018, Apple made history by becoming the first publicly traded company to reach a $1 trillion valuation. Although it took the tech giant 42 years to reach this milestone, its value doubled to $2 trillion just two years later. Then to ring in 2022, Apple’s share price climbed over $186 per share, which turned the iPhone maker into the world’s first $3 trillion company. That’s more than the combined worth of Walmart, Disney, Netflix, Nike, McDonald’s, Exxon Mobil, Continue reading →

Global, Product Development, Ethics, Apple, Manufacturing, Supply & Demand, Silicon Valley, Stock Market, Stock valuation

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media