”If the United Nations was fully funded why would we need the Arc or social enterprise?”

I believe that we don’t need social enterprise, the Arc, or any other charitable/philanthropic ventures for that matter. Everyone can simply leave these activities to government organizations which are equipped to do so. What’s important about these charitable efforts external to the government is that they demonstrate empathy and compassion for one’s fellow man. Additionally, even if the United Nations were incredibly well funded, they still wouldn’t be able to cover every single location that requires assistance. Social enterprise can help many areas that are left neglected because they are low on the UN priorities list.

Furthermore, the Arc can be beneficial for the Sauder students involved, not just for the communities that are the target of the Arc Initiative. Students would not only immerse themselves in a different culture, they become more globally aware more knowledgeable of the issues and lifestyles surrounding various African communities. This makes the Arc mutually constructive and creates a synergistic relationship between both parties.

Social enterprise should not be seen as a substitute or an alternative to government-funded humanitarian programs. Rather, it should be viewed a compliment to those programs by filling in where government organisations might have disregarded.

Image: http://b.vimeocdn.com/ps/365/442/3654422_300.jpg

http://www.sauder.ubc.ca/Global_Reach/ARC_Initiative/About_ARC

It has come to the attention of many students at UBC that a new college called the UBC “Vantage College” is being built for more than $127 million. Highlighted in this article, the Vantage College is international student exclusive, barring Canadian citizens from applying. At a cost of approximately $50 thousand a year, successful applicants to the college will enter a special first-year program designed specifically for those with weaker English language ability. Finishing the program will then enable the students to enter the regular second year at UBC.

According to the article, response to this move has been mostly negative. Students claim that this will create students who will not be fully integrated into UBC and divide the student body. Others, including myself, feel that the college is a deliberate cash grab and will exist purely to generate revenue. Rather than spending that huge sum of money on attracting potential international students, it should be spent on improving the experience for existing students. By making UBC a desirable school, it will attract more students by virtue of its reputation. Catering specifically to the students with the deepest pockets smears its academic image and alienates the brightest students who don’t want to attend schools that seem hungry for tuition revenue.

Image: https://twitter.com/UBCVantage

http://www.cbc.ca/news/canada/british-columbia/ubc-s-vantage-college-canadians-need-not-apply-1.2826142

Marketing is one of the aspects of a business that is instrumental and directly correlated with the success of a business. Even if a firm produces a world-changing or revolutionary product, it won’t sell unless the masses know about it. I came across this blog post by Raza Razi detailing his thoughts as to what makes a strong marketing campaign.

In Raza’s post, he discusses the ALS Ice Bucket Challenge and how it managed to spread awareness for the disease rapidly when it was relatively unknown before the Challenge picked up in popularity. This, in my opinion, is a great example of an effective marketing strategy. Within such a short time frame, it raised over $100 million as well as put boosted ALS awareness globally.

Raza also talks about the qualities of a successful marketing approach. Although he is of the opinion that forming an emotional connection with the consumers should be a key factor in any marketing strategy, I believe that marketing tactics are very diverse and cannot be summed up into any one phrase. Some ads rely exclusively on sexual or physical appeal and does away with any emotional depth. Although shallow, these ads can be some of the most successful, showing how marketing cannot be pigeon-holed into any particular “style”.

Image: http://boston.cbslocal.com/2014/08/05/mix-104-1s-salt-dares-wbz-tv-anchors-to-try-ice-bucket-challenge/

Marketing – How Effective Can an Idea Be?

Crowdfunding has become very popular amongst aspiring entrepreneurs to “test the waters” with their ideas and receive some more financial backing. Although enabling more concepts and potential products to come to fruition from those who might not have the financial stability to do so, it also brings a lot of risk. In COMM 101, the viability of Kickstarters have been discussed, specifically from the perspective of the individual(s) behind a certain Kickstarter. This article looks at Kickstarters from the other side of the relationship. In particular, those that succeed in receiving funding, but fail to deliver a functioning product.

When a Kickstarter product fails to meet key objectives, backers are understandably upset. MyIDkey and Kreyos are two examples from the article which ended in disaster due to issues such as lack of clear objectives and manufacturing issues, cumulating in substantial losses in capital which neither company can afford.

The fact that Kickstarter is in no way a “shopping centre” for new innovative products is an important concept to grasp especially for the “victims” of failed projects who treat it as such. Despite the fact that many companies do manage to deliver a working product, backers should not be expecting a 100% success rate for any idea they put their money towards.

Image: http://lockerdome.com/6350813287169345/6976134722096148

https://www.kickstarter.com/?ref=nav

http://arstechnica.com/business/2014/10/the-ugly-afterlife-of-crowdfunding-projects-that-never-ship-and-never-end/

For most companies, people who work full time, receive regular pay and wears a company uniform to work would be considered an employee. From this article, FedEx is not one of those companies. FedEx drivers are instead treated as independent contractors and do not receive any overtime pay nor contributions to their Social Security benefits. By doing so, FedEx is able to gain a competitive advantage by removing the costs traditionally associated with employees. According to Agostino Scalercio, a FedEx driver, 30 – 40 percent of his salary was deducted in order to cover expenses for his truck and uniform thanks to his status as an independent contractor. To top it all off, independent contractors are not covered by employment protections and are not permitted to unionise.

Although FedEx is gaining this competitive advantage, it is doing so at the cost of employee loyalty and public image. FedEx claims that this business model is “highly successful and beneficial” for both contractors and FedEx itself. The way I see it, this model is anything but beneficial for the contractors, while very much so for FedEx. Exploiting technicalities in business law in order to cut down worker compensation shows that FedEx is severely lacking in moral fibre.

Image: http://www.ctvnews.ca/health/fedex-charged-with-delivering-drugs-for-illegal-pharmacies-1.1919824

http://www.businessweek.com/articles/2014-10-16/fedex-ground-says-its-drivers-arent-employees-dot-the-courts-will-decide#r=discussed

In the business world, there is no magical key to success. Working hard does not guarantee success as luck plays a significant role in determining the outcome. However, Mark Cuban’s blog post highlights key points which he feels are some of the main factors in bringing about success in business. Mark Cuban, a billionaire and the owner of the Dallas Mavericks, offers an interesting piece of insight from someone who has succeeded in the business world.

Personally, the idea that resonated strongly with me in Cuban’s blog is No.3 : Know as much as you can about technology. According to Cuban, new technologies can spark massive change, and where there is massive change, there exists the potential for massive profit. Looking back on the most successful entrepreneurs of the 20th and 21st century, there is a clear correlation between disruptive innovations and colossal profits. Microsoft and Apple being the most obvious examples of this phenomenon, there is also Ford and Facebook, changing the field of transportation and communication, respectively.

Although technology is an ever expanding industry, it is also a highly volatile one. Technologies shift so rapidly that some companies don’t even last a decade, even after turning in large revenues for years.

 Picture showing declining Revenue for Myspace.

Image: http://www.businessinsider.com/chart-of-the-day-myspaces-revenue-collapse-2011-3

The 6 Things You Need to Know to be Great in Business

Recently, there has been commotion regarding the establishment of a new pipeline headed by Calgary-based Enbridge as highlighted in this article. Although it might seem like just another pipeline, Enbridge is actually trying to build the pipe right through Nak’azdli territory. Nak’azdli, along with six other First Nations is trying to prevent the pipeline from being built as they claim that the pipe will run through 25 percent of traditional First Nations territory.

Not only does this incident damage relations with the Canadian First Nations groups, it also violates many ideals of business ethics. Specifically, it goes against Ed Freeman’s stakeholder theory by failing to benefit the host community, which is the Nak’azdli.  In my opinion, this clash with the First Nations will severely hurt the brand image of Enbridge.  Competitors will be able use this as a weapon to drive down business for Enbridge.

Personally, I would suggest that Enbridge abandon this project. Even if a deal could be reached with the First Nations groups to carry on with the construction, the environmental damage that will be caused could last for generations. Instead of exploiting more and more of the Earth’s natural beauty for monetary gain, more efforts should be made to preserve these areas because it can’t be replaced.

Image: http://www.cbc.ca/m/touch/business/story/1.2469224

http://www.gatewayfacts.ca/

http://www.vancouversun.com/technology/There+will+pipeline/10122968/story.html

According to this article, Microsoft, as part of its five-year $400 million deal with the NFL, had stipulated that the Microsoft Surface will be “the official tablet of the NFL”. What is meant by this is that coaches and players will be shown using the Surface during a game. Additionally, the Surface logo would be used on various NFL equipment such as replay monitors. However, the plan went wrong when several announcers and commentators mistakenly referred to the Surface as an iPad. Consequently, not only was the Surface not mentioned, but the incident had inadvertently boosted the exposure of its competitor, the iPad.

In my view, this incident really highlighted Apple’s position as the industry leader in tablets as the iPad has almost become synonymous with any tablet or tablet-like device. It also draws attention to the market state of the Surface. The Surface has long been trailing behind other brands such as Apple and Samsung in the tablet market share, and this marketing fiasco only cements its situation, At $400 million, it really demonstrates how Microsoft is unrelenting in its attempts to stimulate an influx of popularity with the Surface in order to compete with the iPad. Hopefully, Microsoft will be compensated for this and the deal might carry forth in a more positive direction.

University tuition is reaching record highs, and showing no signs of slowing down. According to this article, tuition rates are expected to triple from 1990 to 2017 in Canada. This is an alarming statistic; before long, the benefits associated with a post-secondary education may be weighed down by the cons.

In the US, college education fees are facing a much more drastic hike according to this article. American institutions have increased their rates by as much as 12 times more than it was 35 years ago. To a Canadian citizen, the price of an average American college education seems insane compared to the already expensive costs in Canada.

This brings up the topic of the cost versus benefit of a University degree. As more and more information is being found on the internet and published for free, going into massive debt for the very same information doesn’t seem like a very good deal. Many seem to view a degree just as “proof of competence” for employers. Of course, the social aspect of college life is and continues to be one of the main justifications of the price. However, with costs rising the way they are, would the “classic” college experience continue to be worth the money?

Recently I came upon the fascinating blog of Trent Abraham. His writings offer very unique commentary on various topics regarding economics and business. One of such topics that piqued my interest was the entry on the issue of Facebook privacy. As many are aware, the notion that Facebook may be too intrusive on personal information is something that has been around since its inception.

This article referred to in the blog post highlights the extent of Facebook’s privacy violations as well as tips to prevent their visibility online. Trent writes that “Facebook ha[d] done nothing wrong” and that any information that is found on Facebook is information that is voluntarily surrendered by the user and so therefore is fair game if it is used for marketing or other revenue purposes.

Personally, this is a sentiment which I very much agree with. Facebook information and Facebook itself is an entirely voluntary service as people are not forced to create social media profiles. I agree that Facebook should exercise some degree of discretion when handling the information of customers, but aside from customized advertisements, there hasn’t really been any use for an individuals personal information. In my opinion, the recent attitudes regarding privacy seem to be mostly paranoia, and Facebook just happens to be the most obvious target of these attitudes.