It’s beautiful, when you hear it you can’t stop thinking about it, and when you see it on signs and in windows your heart skips a beat. Yes, you know what I’m talking about….”FREE”. That one word can appeal to just about anybody, but speaking from a university standpoint, a students’ day can be brightened just by getting a free pen.

That’s why when McDonald’s has their highly-anticipated “Free Small Hot Brewed Coffee” promotion, well it basically parts the grey clouds of Vancouver for the hypothetical beams of sunshine as a beckon of light. Now besides being happy about free coffee customers might think, “Those people in the head office have lost their minds,” or “This is no different than McDonald’s burning bills.” But it’s not.

In response to classmate Mandy Xu’s post about this exact promotion, we both agree that it is money well lost in mean of the long-term strategy of the business. Mandy states “By cutting down price drastically, the restaurant boosts up its market share in a blink of an eye. This cost leadership strategy is subjected to attract a wide range of customers regardless of the contribution margin each one of them brings in.”

In that sense, McDonald’s is doing something right in terms of marketing. By giving out free coffee they are both “thanking” their loyal customers, while welcoming new ones – who previously might not have ever gone to McDonald’s.

Well, seems like McDonald’s has two thumbs up on this end; on behalf of university students, we’re loving it.

Responding to fellow classmate Clement Lau’s post regarding the analysis of Vancouver’s market in terms of utilizing the Porter’s Five Forces tool, I would have to disagree in the overall conclusion of the analysis. In respect to the success of small businesses and their entry into the hustling city of Vancouver, Clement stated that “I would think the degree of measurement with regards to the five forces are all listed as high”.

Honestly I can agree with 90% of that statement. Supplier and buyer power is high concerning number of customers, uniqueness of service, and cost of changing for small businesses. Threat of substitution, for sure is high; with endless options in the downtown Vancouver area for coffee for example. All an unsatisfied customer has to do it walk a block to find their new favourite coffee stop.

I would argue though that threat of new entry is not high, I would even argue that it is low. Especially with the ever recovering economy and all those families with it. The risk of entering such a vast, competitive, and established market – I would think – would seem as unattractive and undesirable for the average entrepreneur.

Competitive rivalry, as means of the resulted conclusions is high, and rightfully so.

Lead With Your Heart, Not Just Your Head

As my first response to an external blog, I chose to respond to Harvard Business Review writers Naomi Eisenberger and George Kohlrieser on how managers should focus less on leading with the stubbornness of authority, and with more caring for their employees.

According to Eisenberger and Kohlrieser, it is important for personnel with managerial positions to exercise the power of personal leadership when interacting with their employees.

I agree, in such that regardless if the company stresses their resources, and time into maximizing profits, it doesn’t make establishing personal connections and trusting relationships with employes any less imperative. I believe that “feeling connected is intrinsically rewarding to the brain” because having a social attachment with fellow employees helps to give way to better, more effective communication, employee respect, and less stressful work environment.

Personally, having worked a part-time job at Tim Horton’s my manager made an effort to be super friendly and communicative with all employees about more than just work related topics, but rather interests, and future plans. She managed to make those social connections with her employees, including myself, while maintaining an authoritative image. She was someone everyone respected.

I was very lucky to have such a positive experience with my boss as my first job, however I know now from Eisenberger and Kohlrieser’s blog that the preferred persona of many managerial figures is that of strict enforcement. See through their management by objectives and metrics to monitor performance, and their historic view that bonding with your team members will be seen as a distraction at best or weakness at worst.

Personally, I would rather trust my boss than a total stranger.

“By developing the first high-definition streaming video platform of Earth, UrtheCast plans to change the way we view the world.” So in other words, prepared to be amazed.

Don’t believe me? Watch:

Introduction to UrtheCast

UrtheCast is a high-definition resource that shows how small we actually are, by providing a real-world, up to-date video stream of the Earth. It seems fascinating and “out of this world” – no pun intended – but is it too much out of our world? Personally speaking I don’t know how I feel about UrtheCast, consider me on the fence.

“You will be able to scroll, pan, zoom, and search your way around the Earth”…sounds a lot like Google Earth with a sprinkle of YouTube. Its point of parity is clear, and its point of difference is restricted to its live streaming feature, but what is the practical realism of the implementation of such a program? Or should I be asking what are the consequences  of installing such a device on the International Space Station?

Seeing pictures of natural disasters, or war efforts overseas on the television is emotional and captivating, seeing shootings unfold or tsunamis wash away houses in the moment, watching something like that unfold in front of your eyes would be something else. At least those pictures that are shown on the news channel have taken the time to keep individuals’ identity private, and are being monitored as to what is considered appropriate for showing.

How can UrtheCast guarantee that this freedom they are claiming to give us, won’t be too much? They say that UrtheCast will “change the way we view the world”. Hopefully this is not for the worse.

Energy Aware‘s sleek, user-friendly PowerTab is a gadget that I would personally want to invest not only my money, but time into. Customizing the item to provide instant feedback on electrical use in both dollar and time values, provides a significant point of difference for Energy Aware. A point of difference that as a customer, would catch my attention and interest. Its point of parity however, is a significant one in contrast.

 “BC Hydro agrees to modify smart-meter program.” – Globe and Mail…so Energy Aware isn’t the only one reaching out to the every growing, environmentally aware, prime target market. The recent implementation of BC Hydro’s smart-meter program might prove to be the rope tying the advancement of the PowerTab in locations other than San Diego.

Having just gotten the PowerTab recently approved in San Diego’s loyal borders, Energy Aware needs to focus on the next big challenge; that is now getting approval from BC Hydro for the sale of the highly anticipated PowerTab in British Columbia.

I don’t doubt that the PowerTab would be a hit to all citizens – young and old – concerned with the state of their environment. What I have doubts about is with the swift approval from fellow competitor BC Hydro. Because really, who would want to give rights to a small, new company to sell a relatively more favourable product, along with a corner of their overall revenue gained from the smart-meter program?

Well, with fingers crossed, all environmentally  intrigued  citizens can enjoy the wireless connecting, not privacy intrusive, and electrical usage resource on their countertops in the near future.

NOT INTO ACCOUNTING OR MARKETING? GUESS YOU COULD BE AN ENTREPRENEUR. 

RICHARD BRANSON

Mirror, mirror on the wall, who’s not the youngest entrepreneur of them all? Richard Branson, 62 year-old founder and CEO of Virgin Group, is just that. Having led a plentiful life full of business success, Mr. Branson has recently talked about how senior entrepreneurs can break the socially anticipated image, and use age to their advantage.