In The Vancouver Sun, this article showcases the value behind boutique brands around Vancouver and the experiences and services associated with them. By using cultural curation, “a buying strategy that tests and offers product categories outside the core business” (Lee) and lifestyle merchandising, boutiques have the advantage of putting value in differentiating their assortments, store design, editing and merchandising, with a sense of surprise in not knowing what to expect when walking into these retail stores. The strongest attribute related to a successful boutique’s brand, is the service provided that is different from big clothing retailers. For example, Rob Lo, Roden Gray co-owner indicates his “skill and emphasis on showing the customer how the product fits into his lifestyle leads to sales” (Lee). For the small retail chain, it’s selling the experience, like favourite restaurants and music preferences. This is highly uncommon to be seen at a department store. With its unique brand position, Roden Gray is able to target their ideal market, where consumers don’t mind paying regular price for the lifestyle and experience associated with the brand. Brands are priceless. And when competing with bigger competitors, it is important to differentiate your brand with key values in a saturated market.

Source:

http://www.vancouversun.com/business/smallbusiness/Small+apparel+stores+adapt+competition+from+chains/8723269/story.html

In The Globe and Mail, an article titled “New Apple iPad Mini faces delay: report”, suggests Apple Inc. will have a delay in release for its new version of the iPad Mini. The report indicates the new iPad Mini will support a higher resolution retina display, but due to possible supplier concerns, the release probably won’t happen until early next year. Although the manufacturing delay is unclear as to why, “one source at a supplier said there were delays in Apple’s certification of panel producers, which were given strict power-saving requirements” (Jim et al.). Apple has also requested suppliers to reduce costs in production in order for Apple to market the iPad Mini at a lower price to compete with dominating competitors in the tablet market.

Operations is a key component to successful management in a company. In order for the supply chain to work efficiently and to produce the highest quality and quantity while keeping costs low, management must organize and process the resources, labour and capital that are required. Companies may have brilliant ideas and products, but if management is unable to execute their plans and deliver the goods to the consumers at the right time or on a timely matter, the market could be soon dominated by competitors.

Source:
http://www.theglobeandmail.com/report-on-business/international-business/us-business/sharper-display-apple-ipad-mini-faces-delay-report/article14653930/

In business, companies achieve recognition of being ethically and socially responsible by behaving or operating honestly in regards to their suppliers, contracts, personnel, pricing, advertising and selling methods. When a company’s actions aren’t for personal gains and self-interests, this company is known to be ethical. But being unethical doesn’t necessarily mean being illegal. Ethics is based on what society believes is morally right or wrong, so a company should follow the social standards that are held highly in society to be considered an ethical company.

For example, in 2009, Dannon claimed that two of their most well-known products, Activia yogurt and DanActive diary drink, were “clinically or scientifically proven to regulate digestion and strengthen the immune system” respectively. Because of these health claims, Dannon sold their products at a 30% price increase over other brands with many consumers entrusting the company’s history, research, and honesty. They created an advertisement that featured actress Jamie Lee Curtis who endorsed their products and its supposed benefits. After much testing from the FTC and feedback from consumers, it was eventually proven that none of the results stated above were accurate. Because of this social irresponsible action in false advertising, Dannon suffered terrible financial consequences through numerous lawsuits.

https://www.youtube.com/watch?v=-FOEpil_hBQ