Annie Lui's Blog

Influential people shape the destiny of the world – from world-renowned business leaders to inspiring celebrities to social reformers. Even today’s most frequented Youtubers are making a great impact on our life through the cyberspace.

The most influential person in my life is not anyone famous. He is not a prominent figure who have changed world’s history, nor is he a billionaire. He takes on a much more casual role – my brother.

My second brother, Steven, is four years older than I am. Since childhood, he was determined to follow his dreams in achieving career success along with having a happy family. To achieve career success, he never ceases to grasp each opportunity available to learn as much as he can of the field in which he is passionate about. While many students take education for granted, he expresses his appreciation and gratitude by putting forth what he learned from his professors into good use. At this moment in time, he continues to strive to achieve this dream. Growing from a local nightmarket booth owner to the director and founder of Syntech Consulting Ltd., he gains respect from his workers and peers for his broad spectrum of knowledge in many areas, as well as his leadership capabilities and unique style of management.

To maintain that balance between career and family, which even many professionals find difficulty in, my brother tries his best in organizing his schedule effectively so he leaves time for us. With him being a part of this family of four siblings, he has grown to become a family man, more so than my two other brothers. Not only was he always the first to put a smile on my tearful face, he also always took the effort to clear family misunderstandings by looking at things in our perspectives and speaking objectively.

What I see in him that inspires me most is the way he does everything wholeheartedly. He shows gratefulness for the things he have, embracing and cherishing life to its fullest. It is this attitude that motivates me to live life passionately, to do what I love most, and to enjoy life’s journey.

November was definitely one dreadful month with midterms, meetings, business presentations, all-nighters, coughs and sneezes… Any moment of slack will put you plunging into the depths of despair. But despite that, I chose to step aside from the enormity of the tasks ahead.

I decided to escape from this realm of seriousness, go against the stream, and indulge in a paradise. After all, as the Chinese proverb says: Even a rubber band will break when you overstretch it! So last Friday, my partner in crime drove me out of the city to join in with the rest of the US population in some serious shopping business – Black Friday.

In US, the Friday after Thanksgiving in November has been known as the traditional start to the holiday shopping season. Eye-catching on-sale signs prominent at every direction, many retailers remain open from midnight through to the next day.

Sales record shows a rapid increase in the demand of shoppers, with 6% sales growth in November over the year-ago period. Victoria’s Secret set a single-day selling record on Black Friday with 10% higher comparable sales.

Black Friday is often advertised with “Christmas Sales” as well as “Thanks giving Sales” – it is an event almost equivalent to New Years, Easter, or Christmas! While some join in just to window shop, others insist they will not spend a dime, yet many others not only pre-plan their to-buy list, they are also willing to brave never ending lines to get bargains on items they want. It remains as a retailing tradition in the US.

Retail numbers for Black Friday Sales

HP now announces great news, presenting us with their first store ever to be opened in Vancouver. Being able to provide a new shopping choice for their customers where they can experience the latest HP technology, talk to their knowledgeable staff and have fun in their interactive environment with “something for everyone in the entire family”. They are deviating from the authorize store technique.

Authorized stores are the stores from where people can buy original products of any company. Many high-tech companies have huge network of authorize stores such as London Drugs where their products are available for purchase.

However, having your own store where you can better serve your customers increases the chance of higher conversion ratio. Being able to communicate directly to your consumers will allow them to familiarize with the companies’ cultural, social, and personal factors as we have discussed in Class 15.

Monitoring consumer’s behavior is crucial to guide them to choosing your brand over another. Without being physically there from the hindrance of relying on authorize stores will decrease the chance for the company to communicate with customers.

Good luck to them in recovering from their loss in credibility due to their recent turbulent times with getting involved in layoffs and lawsuits!

HP’s announcement of opening

In class 16, we have learned the importance of getting the product to the right place at the right time in the right amounts – ensuring efficient supply chain.

In the fashion industry, fast-fashion retailers are those who acknowledge that designs transports from catwalk to their stores in the fastest time to capture current trends in the market. In this fashion retail revolution, the company whom has become almost synonymous with this term is Zara.

Zara is a vertically integrated retailer whom controls most of the steps on the supply chain, from designing to production to distribution. Compared with a six-month industry average of developing a new product and getting it to the stores, Zara accomplishes this in a remarkable pace of three weeks. Their marketing strategies create the desire for consumption of new designs as close as possible to the point of creation – promoting it as something fast, low price, and disposable.

Successful supply chain management was evident as they have:

• Maximized added value
• Reduced total cost across entire trading process
• Focused on speed and certainty of response to the market

It is crucial for fast-fashion retailers, like Forever 21, to accomplish these in order to compete effectively at both the local and global level.

Importance of Supply Chain Management

Environmental concerns in recent years seem to have pushed corporations onto the “going green” bandwagon, and it certainly has been quite the buzz these days – we even talk about it in our business fundamentals class!

It has been said that every trend or fat eventually fades away, but this seems to be an exception.

Many companies are still launching environmentally friendly programs to promote their support in this trend, and have discovered its lasting profitability in this economy.

Our well-known ALDO footwear company had launched its Next Step program two years ago aimed at going green and becoming part of the fad. They created this:

A new, clever shoebox design that incorporated a handle into the box, which eliminated the need for customers to use a bag to take their purchases home. They called this The Box Is The Bag.

PUMA, not falling behind, also reinvents their shoeboxes – celebrating their new Clever Little Bag:

Verdantix, a leading research firm, predicted a 50% growth in the US sustainable market in 2014. Also in UK, there will be an increase in spending on sustainability projects from the current $5.3bn to $8.4bn in 2013. Governments are also headed toward this direction, easing the operation of sustainable companies. Our knowledge of companies’ environmental and social performance is increasing exponentially – and it’s knowledge sharing that will continue to keep sustainability issues firmly in the minds of consumers and marketers.

Profitable Sustainability