The annual performance review is the biggest career killer

“Annual performance reviews are a waste of time,” criticized by Jacob Shriar regarding the turnovers of this year-end employee evaluation, in which he argues that performance reviews are often one-sided, overly-structured, money-driven and outdated. He urges companies to forsake the review system because it often promotes inefficiency and failures.

In my opinion, the “annual” evaluation is certainly questionable in a sense that issues are not delivered promptly to employees, causing value disjunction between managers and subordinates. As Shriar suggests, not tackling an issue head on can result in negative team morale and demoralized company culture, which I strongly agree. Yet, the lack of any form of performance assessment can on the other hand, encourage undesirable behaviours (idleness). Instead, businesses should focus on “frequent” and “short-term” feedback rather than a school report card.

I believe that efficiency and productivity are positively related to the social structure of the workplace. The ultimate goal of all businesses is to maximize its revenues, and this optimization greatly relies on the performances of employees. Surely, annual reviews can seem ineffective, but the implementation of instant and recurrent “feedback system” appears to be a better alternative.

The true goal of the performance review isn’t to help the employee—it’s to help the company.

Windowless Plane Would Let Passengers See World Around Them

In your typical plane, there is the aisle seat, the middle seat, and the window seat which in my opinion, is the best seat.

UK-based tech innovation company CPI hopes to be among the first to design a windowless aircraft, where every passenger gets to enjoy electronic panoramic views without the restriction of airplane cabin windows. While this sounds like a pure luxury experience, there surely is more science behind it. CPI claims that this project can further improve sustainability and money-saving. For every 1% reduction in weight, the approximate fuel saving is 0.75%. By eliminating windows, the reduction of airplane weight requires less fuel consumption. And less fuel means less CO2 emissions into the atmosphere and lower operational costs.

As mentioned in class 15, social, environmental and economic demands are considered the three pillars of sustainability. Businesses are based off these elements, and so often, they are the determinants of economic continuity. CPI seamlessly incorporates these three elements into this upgrade in aviation industry. Not only does the environment and standard of living are improved; companies can now maximize profits through operating at lower costs, the reduction in airfare impels purchasing power, both sellers and buyers are benefited.

Sustainability is achieved. And everyone wins.

Michelle Phan: From YouTube Star to $84 Million Startup Founder

Today, individuals are widely exposed to social media such as Facebook, Twitter and YouTube through the help of Internet. Internet has undoubtedly created a whole new dimension to the operations of business. It has become a hotbed for innovative ideas and business opportunities. And Michelle Phan, a 27-year-old makeup artist who foresaw the potentials of Internet, has successfully transformed herself into yet another ferocious Internet entrepreneur.

“For $10 a month, you can still feel like you’re valued, and you can get something that empowers you to try something new,” said Phan, the founder of Ipsy, a monthly subscription of curated and luxurious sample makeups. Clearly, Phan has not only perceived the immeasurable influence of Internet has upon our new society and generation, but more importantly, the essence of value proposition. She realizes that the acknowledgment of customer’s belief is the key to building her loyal customer basis. Setting her foot in the highly competitive cosmetics industry, she is able to differentiate herself through the concept of “empowerment”, in which she unequivocally delivers the message of strong and powerful minds.

Her products are not commercialized, rather, they are customized products that sell deep into customer’s hearts.

Fish Lake Fightback in Court

Taseko Mines Ltd’s New Prosperity copper-gold project has been slammed by the rabid protests of the Tsilhqot’in people, and the future of the $1.1-billion expansion plan seems to be cast to the wind. The mining site that Taseko has previously laid eyes on has been declared by the Tsihqot’in as a tribal park, in which large-scale industrial mining is prohibited. It is clear that Taseko has failed to examine the “social aspect” of the PEST Analysis. In this case, the natives who have long opposed the mine and claimed hunting and fishing the the area form a powerful external force. And with the support from the government, this mining plan seems completely infeasible.

In my opinion, apart from analyzing external factors (culture and people in this case) in advance, Taseko should also formulate alternative plans and strategies in case of accidents. Pursuing a solution through the courts is not just time-consuming, but depreciating. The time and money staying during the ruling process are inefficient, and cannot be used productively. Businesses should always oversee their investments diligently, and this means thorough inspection of possible external threats. Luckily, Taseko was able to take over Curis Resources’ copper project in Arizona. Otherwise, that $1.1 billion could have come to naught.