In a recent post on Pandodaily, David Holmes spoke of the recent changes to Facebook and how that impacted various stakeholders, one being Facebook users and the other publishers and pages that use the site as an advertising strategy. In the post, Holmes mentioned “that it might be time to find a business model that doesn’t rely on Facebook traffic” as many publishers reacted negatively to the new feature on Facebook that allows users to unfollow certain pages or people.
As a Facebook user, I love the feature as I do not have to view things that I simply do not want to see. From a business prospective however, this feature is detrimental to business’ as the money, time and knowledge invested into their Facebook ads and pages do not receive much attention. Despite this, I do not believe that Facebook should remove the feature in order to please publishers as it ruins the purpose of the site. The site was formed to connect individuals, and if, for example, I don’t want to connect with someone or see a certain commercial, that should be my decision. I do believe, however, that this feature should inspire companies to come up with more innovative ideas that attract the public. Facebook is a great platform for connecting and sharing ideas and topics. If companies are able to create content that is fresh and innovative, it would surely blow up on Facebook!
Works Cited: http://pando.com/2014/11/07/with-facebooks-newest-feature-journalists-have-no-one-to-blame-for-clickbait-but-readers/
In fellow classmate Peter Lee’s blog, he emphasizes that the expansion for Netflix into film production and distribution will be considered an extremely significant “pain killer” for customers as it alleviates the pain and inconvenience associated with watching films in theatre. He also mentions how movie theatres will be something of the past.
Truthfully speaking, I love attending movies and I’m sure a lot of people do too because why else would it be such a popular date spot? I love sharing a special moment with others in the theatre when something hilarious or heart wrenching happens during a movie.
However, as a broke university student, I find myself in the confines of my room binge-watching Netflix rather than spending a nice evening at the theatre. For less than ten dollars a month, I can watch unlimited movies. That doesn’t sound too bad, right? Although I disagree with Peter’s “pain killer” argument, I do believe that movie theatres will soon be something of the past. With the increase dependency on technology, people have been used to the lack of real human interaction and therefore will not prioritize the movie theatre experience. In addition, with living standards constantly improving, the costs associated with attending a movie will rise as employees will have to be paid higher wages. Although Netflix prices will probably rise as well due to expansion, it will still be more reasonable to consumers as they get more BANG for their buck!
Works Cited: http://money.cnn.com/2014/09/29/media/netflix-crouching-tiger-movie-deal/index.html?hpt=hp_t2
” If the United Nations was fully funded why would we need the Arc Initiative or social enterprise”?
Although the United Nations is continuously working towards ending poverty through their many efforts, it simply is not in enough. The problems faced in the world are too large to be dealt with by one corporation or individual alone. The issue of poverty has many aspects that cannot all be understood and addressed by a single corporation. With that being said, the simultaneous use of social enterprise and United Nations will help solve these problems better as where one fails to create a long term solution, another can find a sustainable method. For example, in a UBC news article, Arielle Uwonkunda spoke of how the simple solution of funding businesses did little to help Rwanda as individuals did not have the knowledge to sustain and develop the business. Instead she believed that the Arc Initiative would be able to provide individuals with knowledge that would be useful to development businesses and help improve the lives of Rwandan citizens. Personally, I believe that initiatives and companies that find innovative ways to solve problems are of great value. It allows individuals and communities to gain useful information and work hark to improve their lives. It gives individuals the opportunity to create a sustainable life.
In Class 15, we discussed Michael Porter’s thoughts regarding reinventing capitalism through shared value. What immediately came to mine was World Housing, a real estate company that follows Tom Shoes’ one-for-one business model. In short, the company provides quality homes for those living in landfill communities across the world for every home it sells. Thus far, World Housing has been able to provide 53 homes in Phnom Penh and plans to 30,000 people by 2020.
An average garbage dump community before being developed before World Housing construction
The aspect that attracted me to World Housing was the requirements that needed to be met in order to be gifted with a home. According to the World housing website, families must have parents working full time, students enrolled in school and must act as a role model to the community. The guidelines imposed by World Housing ensures that the positive social impact is sustainable. By setting certain requirements, World Housing gives individuals the opportunity to improve their lives as they are required to maintain certain living standards. This motivates individuals to continue working hard rather than being unproductive and relying on World Housing to provided everything the families need. World Housing’s business model helps families improve their present life and their futures.
Works Cited: http://www.huffingtonpost.ca/2014/02/18/vancouver-real-estate-world-housing-one-for-one_n_4811222.html
In my fellow classmate Sahir Shivji’s blog he discusses the ineffectiveness of McDonald’s new ad campaign that is to launch in 2015. Sahir expresses his disapproval of this campaign by stating the slogan “Lovin’ Beats Hatin'” is based a current trend that will soon become irrelevant thus making the campaign irrelevant as well.
Although I appreciate McDonald’s effort to “spread happiness in the face of Internet hate,” I agree with Sahir in stating that the campaign shows McDonald’s Marketing department’s lack of effort. The company is jumping onto the bandwagon of the popular trend of saying no to “haters” in attempt to attract customers and increase sales as reports show that sales have dropped in Europe and the United States. In my opinion, this campaign will be ineffective as it has no relation to the McDonald’s brand and customer perception of the company. McDonald’s is known for being fast, affordable and (somewhat) delicious which is why “I’m Lovin’ it” was a suitable slogan for the company. I mean, why wouldn’t you love food that is quick, cheap and delicious! “Lovin’ Beats Hatin,'” however has no relation to the company and is obviously a desperate (and lazy) attempt to increase sales. If McDonald’s wants to improve sales, it must come up with a fresh and innovative idea that reflects their company.
Previously in class, we discussed R. Edward Freeman’s Stakeholder Theory. In the video provided, Freeman stated that no stakeholder must be looked at in isolation and that it is the managers responsibility to assure that all stakeholder’s interest must go together for a organization to be successful.
A popular topic in the news lately is the construction of the Site C hydro-electric dam project. Many news articles have addressed the benefits that will affect the province’s industries and the province as a whole. Although the negative environmental consequences were explained, no great effort was put into explaining the impact that the dam will have on First Nations communities and their dependency on natural resources for traditional, spiritual and physical sustainability. Despite their opposition, many industries and government sectors are promoting the construction. This shows that the interests and opinions of the First Nations as stakeholders are treated with less value because their views do not yield the government much revenue. With that being said, it is extremely difficult to halt the planning of this project due to a small group’s opposition because that the project as a whole will benefit the company, the government and a greater fraction of stakeholders. Although a decision has not yet been made, I anticipate that the dam will be built due to the lack of incentive for cancellation.
“The Site C Clean Energy Project (Site C) is a proposed third dam and hydroelectric generating station on the Peace River in northeast B.C. Site C would provide 1,100 megawatts (MW) of capacity, and produce about 5,100 gigawatt hours (GWh) of electricity each year — enough energy to power the equivalent of about 450,000 homes per year in B.C.” (Site C)
What is Stakeholder Theory: https://www.youtube.com/watch?v=bIRUaLcvPe8
With just a little over a year Vancouver’s local ice cream producer, Earnest Ice Cream, is preparing for the launch of their second location. Since their first store was opened in August 2013, the company continues to receive much recognition on social media sites, magazines and online news sites such as The Globe and Mail. Aside from their extremely delicious, hand made ice-cream, what makes Earnest Ice-cream so special and the line ups so long?
Before Earnest opened it’s first location, owners Benjamin Ernst & Erica Bernardi delivered jars of ice cream with hand written labels all across the city to costumers on their bicycles. By being directly involved with the delivery of the product and personalizing the labels, Ernst and Bernardi were able to establish valuable relationships with their customers and make their distribution channels personal. I trust that Earnest’s great success is due to their dedication to making their business model intimate. Even while planning their first store, Bernardi remained dedicated to personal customer service by stating that she wanted all the flavours to be explained by the staff instead of a glassed-in display because “having face-to-face interaction and seeing [customers] eyes light up is absolutely by far the best part…”
Owner’s Ernst and Bernardi
In early 2012, Lush, an ethical and anti-animal testing cosmetic company, launched a campaign to raise awareness of the cruelty of animal testing. As part of the campaign, Jacqueline Traide, 24 year old student, was subject to various animal testing practices in the window display of a Lush store in London, England. Some practices include being spooned food down her throat, clamping her mouth open and having her head shaved.
Lush’s window display was an extremely bold and brilliant marketing strategy. Although disturbing to watch, the demonstration allowed Lush to indirectly advertise its product. Most cosmetic companies, such as Clique, endorse their products directly, usually through commercials that show appealing celebrities using and recommending the products. Lush, however, took a more unconventional approach. By educating people on the cruelty of animal testing, Lush was able to put itself in a good light as it known to be a company that is strictly against animal testing. If consumers are able see the horror involved in the process of producing their cosmetics good, they are more likely to reconsider the products they use. This campaign bought forth more attention to Lush products without the company ever having to mention them.
Lush Fighting Animal Testing: Live Demonstration at Regents Street Video
Earlier this week, Walmart launched its first drive-through grocery store in Bentonville, AK. With Walmart’s drive-through service, customers can order their groceries online anywhere from two hours to three weeks in advance. Customers can then pick up their groceries whenever they please without waiting in line (given that they notify Walmart within two hours of coming in)
Walmart’s drive-through changes the grocery shopping experience immensely. Shoppers are now free from the torture that is waiting in endless lines and dealing with less than enthusiastic cashiers. One customer even described the trip as the “less painful shopping experience ever!”
Not only does this alter customer experience, it drastically effects the way Walmart functions. The company will be able to decrease various costs as they alter their processes. Since all shopping and transactions will be online, Walmart will no longer need cashiers and shelving workers, thus leaving hundreds unemployed. Instead, they will invest in efficient and easy to use online catalogues and safe online payment methods. Moreover, converting into more of a “warehouse setting” will allow Walmart to have a smaller amount of days of inventory. However, the impact of this will not be as great as Dell. In Walmart’s case, 4 days of inventory will not benefit them because of the vast amount of products they have and shorter delivery time when compared to Dell.
Walmart’s new drive-through system
Earlier this year Japanese automobile manufacturer, Toyota, paid $1.32 billion to settle lawsuits filed against them for deceitful claims regarding their malfunctioning brake systems. The company was said not to be held to any criminal charges if it agrees to be monitored in terms of safety practices.
By concealing crucial information about the safety of its vehicles to customers, Toyota fails to live up to its one and only social responsibility, as explained by Milton Friedman, of “increasing its profits…without deception or fraud.” I am astounded by the fact that such a large company failed to accomplish the task of producing a functional and safe car, taken that there were no other social responsibilities they were accountable for. The Toyota executives at the time placed higher value on profit rather than the safety of their consumers. Although an arduous process, the company should have informed the public and recalled faulty models immediately in order to prevent life threatening accidents, such as the Lexus ES350 defect that killed a family in 2009. In trying to maximize their own benefits, Toyota was deceptive and did not stop their unethical practices which harmed their credibility and put more consumers’ lives at risk.
The result of the Lexus ES350 model that killed a family in 2009
Source: Toyota to pay $1.3 billion for deadly defect cover-up