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

Arc initiative is a program that Sauder School of Business alumni and faculty has created to exchange business skills and knowledge with developing countries such as South Africa, Ethiopia, Colombia and Rwanda. Even if the United Nations was fully funded, it would still be important to have this program to help the poor.

Screen Shot 2014-11-12 at 8.33.39 PMFunds are just a short term solution in any situation. If you do not have the skills to use the money effectively, and only know how to spend it, the fund is going to run out sooner or later. By only funding the poor and not educate them enough would not make them become independent. This means they would always need help, and it may result in an endless cycle. Which is why Arc initiative and social enterprise is useful. Helping developing countries with business skills and knowledge would bring wealth to the country by themselves, which is a long term solution. They need to learn how to use their asset in the right way to they can generate more using their initial money. Therefore, using the short term solution (funds) and the long term solution (arc initiative and social enterprises), the developing countries will slowly get out of the vicious cycle, poverty, poor, and war.

Sources:

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

Upward Arc

 

Response to eProjects

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I found this blog related to entrepreneurship, a startup company named Hootsuite. They are another type of social media website, but different. They have created a niche market- social media innovation games. They realized that there is a huge growth potential in the social media market. Social media is one of the most important way of communication in millennial. Hootsuite started up their business by having a partnership with Twitter. They then used government funds, as well as business angles after becoming an independent corporation.

To me, innovative entrepreneurship is one of the hardest yet very important aspect in any industries. They give the corporation a niche, a unique selling point, and something new to the market. This may also lead to disruptive innovation. I personally would want to start up my own business in the future, but there are a lot of aspects to consider and difficulties that may stop me. After reading this blog entry, it has affected me on how I will start up my own business. Innovative and creative entrepreneur will be one of the hardest among all the others. There are so many problems that could go in the way. Is there a very high barriers to entry in the market? Does the market still have growth potential? Are there too many rivalries? Where am I going to get my funds from?  But Hootsuite has also made me realize that with such a simple and innovative idea, could lead to big success.

Sources:

http://eprojects.ca/local-startup-hootsuite-makes-social-media-a-suite-experience/

http://eprojects.ca/wp-content/uploads/2014/10/Community.png

Response to Vanessa Lee’s Blog

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An iWatch? Or a Rolex?

After reading Vanessa’s blog entry on Apple’s new product iWatch, I have some thoughts I would like to share. I do not agree with Vanessa’s opinion that iWatch is not going to affect the demand for Swiss watches. In my opinion, iWatch is going to change the entire watch industry. Certainly, it is not going to swipe out the Swiss watch industry, but it will have a huge impact on it. iWatch not only show the time, but it has many other uses such as apps, tracking daily exercises, having it connected to phones,  music, and so on. They are not just revolutionizing watches, but also payment processes that could be connected to the watch. They can simply swipe the watch in front of the credit machine for payments. So many of these events wouldn’t be done by a simple Swiss watch. Sure, a Rolex watch will reflect on your status, but having an iWatch will also show that you are in the fashion, the new trend in the generation.

In my opinion, iWatch will become a disruptive innovation in the watch industry. “It is going to change the way people view watches.” Says Tim Cook, the CEO of Apple. However, since Rolex is the “classic” and shows the highest status of a person, the product would not become obsolete, but would definitely have a decrease in revenue for Swiss watch.

Bibliography:

http://www.forbes.com/fdc/welcome_mjx.shtml

http://www.rolex.com/watches/baselworld-2014/new-rolex-datejust-pearlmaster-34.html

Response to Danny Jung’s Blog

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After reading Danny Jung’s blog entry on Starbucks, I have some comments I would like to elaborate more on. As being said that Starbucks is the “most often expensed food and beverage brand in 2014”, there are many reasons behind the success of Starbucks. I completely agree with what Danny has said in his blog: differentiation of products, high speed of free wifi, as well as fast service skills employees provides. However, I would also like to mention on the marketing strategies that Starbucks has used to become a company with one of the best corporate image as well as services.

In my opinion, Starbucks in a sense is creating massive customization for every individuals that has walked in to the store with such short time period. When you purchase a drink, you could have your very own coffee with special sauce in, or low sugar, fat free, or even add creme to go with your drink. All of this could be done in Starbucks without having to have additional charges. Before you pay your bill, they would kindly ask for your name and write it on the cup. Such little details are actually making big differences (as being mentioned in the previous blog entry). As being a personal experienced customer and with my friends who constantly purchase Starbucks goods, we would take pictures of your drink with our names shown in the pictures. We would not take a picture of our Tim Hortons coffee and upload on to Facebook. As being said in Danny Jung’s blog, Starbucks is well aware of their main customer segments are businessmen and students, therefore having customer’s own customized drink make them feel “special” and satisfy their utility.

Bibliography:

Starbucks Trends

http://www.authorstream.com/Presentation/anuj.jimj-1317719-strategic-alliance-of-starbucks-and-tata-coffee/

“Reduce Today, Respect Tomorrow.”

 

 

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Nowadays, it is being said that the corporate image itself is more important than the actual good or service the corporation produces. According to research, “invest in a company is driven 60% by their perceptions of the company, and only 40% by their perceptions of the products Kasper Ulf Nielsen).” As an example of a corporation being considerate of the sustainable development, Samsung’s using energy-efficient microwaves and solar-powered netbooks to improve on the environmental aspect of sustainable development.

Samsung is the #1 television maker as well as the second-biggest mobile phone maker in the world. But this does not prove that they are a very good company. What makes a good company is when even though they are one of the most successful companies in the world, they are still caring about the world, the environment, and the next generation. Having a change in improving sustainable development may benefit the company in many ways. It reflects on the corporation image, enhances brand loyalty, as well as making customers feel safe and trusting the brand. On the other hand, the internal stakeholders would benefit from it as well. Employees may feel proud of their company and they are part of the “group” of making a difference in the world.

Bibliography:

http://www.forbes.com/sites/jacquelynsmith/2012/12/10/the-companies-with-the-best-csr-reputations/

Samsung Using its Power to Advance Sustainable Development

Taylor Swift Using Business Strategies

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As we all know Taylor Swift is a country-turned-pop star on a young age of 24. Taylor Swift has used the Social Media as a Marketing strategy for her career. All of her advertisements are being posted on her Twitter, Instagram, Facebook, and Tumblr accounts. She uses online payments for concert ticket sales as well as seat choices.

It is a very smart choice of using the social media as a strategy in several reasons. Internet has been the most popular tool people uses in this generation. Using this above-the-line advertisement strategy not only reduces a massive amount of cost for other commercials, but also gains even more publicity. Taylor Swift seek this opportunity and used her resources efficiently more than any one else  She knows exactly what her target segment is, which are mostly teenagers or young adults, who spends most of their time surfing online or using internet. Businesses can use this strategy too. It is very important that the company knows what their customers are, and use this as an advantage of advertising and having marketing strategies in the most effective way possible. Taylor Swift seek this opportunity and used her resources efficiently more than any one else did. She knows exactly what her target segment is, which are mostly teenagers or young adults, who spends most of their time surfing online or using internet. Businesses can use this strategy too. Sometimes it is the little details that really makes a difference.

Bibliography:

http://www.businessnewsdaily.com/7407-taylor-swift-tumblr.html