Clayton Dang's blog

Three young entrepreneurs have created a company that connects businesses with a worldwide network of graphic designers.  At hiretheworld.com, any company seeking for anything from a logo to a makeover including websites and business cards, would go onto this website and fill out a brief form describing what they are looking for and what they are willing to pay. Freelance graphic designers throughout the world would look the request over and decide if they will bid and submit designs. The company looks over all the designs, picks the one it wants, pays for it, then outright owns it. This successful business covers the class concepts of being first to an unoccupied market niche and doing things quickly at low costs.  They have used their advantages in technology and ease of accessibility to gain market shares. They have focused on a new market segment and were the first to enter the consumers mind as an online connection between businesses and a global network of graphic designers. The traditional graphic design firm business model of a customer talking to a staff member face-to-face, sign a contract, then hoping that he would get something that represents your brand, is being rendered obsolete.

Below is a link to the article:

http://www.vancouversun.com/entertainment/Burnaby+tech+firm+attains+global+reach/3636105/story.html

As social media is constantly developing, it is not surprising that its channels are evolving too.  Many forms of social media are continuously growing in popularity (e.g. Facebook), while some are struggling to survive (e.g. MySpace and Second Life).  Blogs are a mainstream media platform and according to a recent report, just over half of US internet users are now reading blogs at least once a month. The growth of usage from these blogs can be attributed to businesses and mainstream media’s desire to have a cheaper, faster, and more efficient platform to distribute their content. This article reflects the class concept of how important a social media team is for a company.  Every company needs a dedicated technical and social media team to manage the online world community, to defend against threats, and to find new constructive ways to engage. Blogging is an extremely useful and free marketing tool that can be utilized by companies to maximize exposure and to turn digitalization into revenue. It is also effective because it enables employers to view inputs of employees and consumers.  Employee ideas can be used to improve business processes while customer feedback leads to better customer service and higher sales.

Below is a link to the article:

http://www.vancouversun.com/news/Blogging+continues+grow+with+place+publishing+secured/3601022/story.html

Research in motion (RIM) unveiled the “Playbook” in front of a packed house at the company’s annual developer conference in San Francisco. The establishment of the Playbook is a direct response to Apple’s iPad. Its points of parity are cutting edge hardware features and flexible operating systems. The Playbook differentiates itself from the iPad in its features of both front and rear high-definition cameras and how it supports Adobe Flash technology. Although RIM’s tablet was met with positive reactions from the community, the choice to delay the launch of the Playbook until next year is a costly mistake. This article ties into the class concept we learned about the importance of being first in the consumers mind. It also illustrates how competitive the market place is, and how difficult it is to establish points of difference. RIM’s first playbook would be entering the U.S. market just as consumers begin hearing about the second iteration of the iPad. Although the Playbook will be a definite revenue booster for RIM, they will most likely lag behind Apple in market shares as they are launching the Playbook too late, and are attempting to enter a market niche that Apple has already entered first.

Below is a link to the article:

http://www.vancouversun.com/technology/aims+change+game+with+PlayBook/3589193/story.html

Blockbuster Inc. is preparing to file for bankruptcy in the next few days. The once very prosperous retailer announced earlier this year that it would close nearly 10% of its stores. According to filings with the U.S. securities and Exchange Commission, it is carrying approximately $900 million in debt. Customers have moved from renting films at the store to using the various online services available such as Netflix or ordering movies from their local service provider (ex. Shaw on Demand).   Blockbuster has attempted to introduce a movie download service to move beyond retail locations, however, it is too little too late, as that service greatly lags behind Netflix’s offerings. Blockbuster should have reacted to the competition much more promptly, as they could have potentially bought a share of Netflix before they expanded their operation. This article is a perfect example of how a business must be willing and flexible to change if it wanted to survive in the competitive marketplace. It also shows how a small business can take market share away from larger corporations if they are more flexible and know how to use their strengths to match consumer wants.

Below is a link of the article:

http://www.vancouversun.com/business/Online+model+rise+puts+video+chain+peril/3566697/story.html

Ayoub’s Dried Fruits and Nuts, owned by Ayoub and Amir Hosseini, is a small family run North Vancouver shop that provides about 70 different types of freshly roasted nuts and dried fruits. This unique store incorporates a very appealing décor, special product display, and personalized service. These entrepreneurs value quality greatly, as they rely on suppliers from various parts of the world for their signature top of the line raw ingredients. They then apply their expertise of roasting or drying these high quality ingredients into delicious finished products.  They saw an opportunity to enter this particular market segment, as many people enjoyed healthy food and good snacks. This article outlines the critical concept of finding the right market niche for one’s business.  The fact that there is yet not much competition in the nut and dried-fruit industry means that there is room for this market niche, where low prices are not the sole determinant of success. The family owned business emphasized high product quality and good service, which is one of the main reasons they are able to expand their operation and attract consumers.

Below is a link to the article:

http://www.vancouversun.com/life/Nutty+business+venture+pays+North+Vancouver+family/3560257/story.html

Vancouver International Airport (YVR) is providing incentives for international airlines to fly into and out of Vancouver in two ways.  First of all, they will no longer have to pay an aviation and fuel tax, courtesy of the Federal government, effective April 1, 2012.  Secondly, YVR is freezing landing and terminal fees at 2010 levels.  These two incentives are expected to increase airline traffic and revenue for YVR in an example of putting the economic theory of Supply and Demand into practice.  By eliminating the aviation and fuel tax as well as freezing landing costs, YVR has reduced its price of supply or airport utilization costs for the airlines.  With the airline industry being extremely competitive, the profit margin for every airline’s routes would likely be thin.  The demand curve for each of these routes would therefore be very elastic, with every reduction in the price of supply or cost of these routes resulting in a larger increase in the usage (quantity demanded) of these routes.  The price reductions by YVR are therefore expected to result in a bigger increase in demand for YVR landings and to bring additional revenue and profit for the YVR.

Below is a link to the article:

http://www.vancouversun.com/travel/freeze+give+some+extra+lift/3554451/story.html

The Enron scandal, revealed in October 2001, was one of the biggest mortgage swindles in the world.  It led to the bankruptcy of the Enron Corporation, a large American energy company based in Texas, and the dissolution of Arthur Andersen, one of the largest international accountancy partnerships.  Many executives at Enron were found guilty on several counts of fraud and later sentenced to prison.  Enron’s employees and shareholders lost billions of dollars in pensions and stock prices.

Enron’s executives created a virtual company with virtual profits. Revenue and profits were greatly exaggerated. Special partnerships were created to hide its debt.  Pressure tactics were placed on its middle managers and on its outside auditor, Andersen, to overlook accounting irregularities.

This scandal illustrated the complete lack of business integrity displayed by Enron’s executives, the poor corporate governance practice by its board and the lack of accountability by its auditor.  Greed overcame management duty and integrity.  While the business world was shocked and investor confidence was shattered by this scandal, it also had positive outcomes such as the new regulations and legislation that were enacted to increase the reliability of financial reporting for public companies.

Below is a link of the article:

http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html

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