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A company I would consider to be entrepreneurial is the Shake Weight.  The Shake Weight is a 2.5kg-5kg weight that uses the concept of inertia to transfer weight back and forth by shaking the weight therefore to increase muscle mass.  In my opinion, this is an entrepreneurial product because it satisfies the four concepts of entrepreneurship; amount of wealth creation, speed of wealth creation, risk and innovation.

The Shake Weight was launched in July 2009 and by August 2010 it had already generated 40 million dollars in sales.  This statistic shows the large amount and extremely rapid speed of wealth creation from the Shake Weight.  This product also had a high risk due to its scandalous nature and border-line inappropriate actions which could turn off
consumers and suppliers.  However in spite of its high risk, the innovation was immense since the concept of inertia typically has not been used for fitness no one has seen or created anything like this before.  Its innovation gave it an edge above ordinary weights and other small fitness equipment.  The Shake Weight truly is entrepreneurial and a one of a kind product.

Picture attained from;
Sean Fagan Wholesale Ltd. http://www.faganswholesale.com/store/product.php?id=124

In the article I read, Zellers is proving there is no such thing as being too liquid. Zellers is a classic Canadian superstore that sells everything from electronics, children’s toys, clothing, seasonal gear, toiletries, sports gear, anything you can think of. However Zellers’ life is slowly coming to an end. Target, an American superstore, is coming to take over and transform the vast majority of Zellers stores.

Liquidity is the ability to convert a company’s assets into cash. For example, cash is extremely liquid whereas something like a factory would not be very liquid. We discussed in class that being too liquid is not always a good thing. However in the case of Zellers, being liquid is extremely important to them at this point in time. They are trying to convert all assets into cash as quickly as possible before Target takes over. In my opinion, I believe this not generally the best strategy but since Zellers’ life has an expiration date, it is a good option for Zellers. This strategy is not commonly used or taught but this has been an exception due to the knowledge of closure and it is the best way to maximize Zellers’ profits.

Picture obtained from:
Toronto Life. Goodbye Zellers, hello Target!  The U.S. chain is finally coming to Canada, 1.8 billion later. http://www.torontolife.com/daily/style/shop-talk/2011/01/13/goodbye-zellers-hello-target-the-u-s-chain-is-finally-coming-to-canada-1-8-billion-later/

Leslie Stowe Fine Foods is known for their specialty Raincoast Crisps crackers.  In this article in the Vancouver Sun, Leslie talks about her company creating a new product, which is cookies, the market during the recession and competition.

Many things in this article struck me since we have discussed them in class.  Porter’s Five Forces came to mind when the article mentioned other brands producing knock-offs of Raincoast Crisps.  Some examples of Porter’s Five Forces are; there were low barriers to entry in this market for these specific crackers because there are not very many crackers very similar to Raincoast Crisps.  Raincoast Crisps have a high threat of substitutes because there are many different types of crackers which could replace them.  However, Raincoast Crisps has the buyer power in this situation, since firms like Costco were interested in selling this product, however Leslie Stowe declined since she believed it would not be profitable.  Leslie Stowe Fine Foods has demonstrated success from using strategies that I have learned
from Comm 101.

Picture attained from;
www.lesliestowe.com

All BlackBerry users have been severely unimpressed with their smartphones recently due to a three day outage for all BlackBerry customers.  RIM experienced a backlog, resulting in BBM (BlackBerry Messenger), social networking app and internet all failing.  This is not the first occurrence of an outage for BlackBerry customers, however it was the longest.  BlackBerry users have been extremely unhappy in the past year and it is clearly evident, with the stock price down 53% and the PlayBook that barely made any sales. (Globe and Mail)

RIM has responded by giving free app to customers as an apology.  RIM is hoping this marketing strategy will retain customers and app developers.  This is not the only strategy, they are releasing new phones with new software in the upcoming year.  In my personal opinion, these new marketing strategies are much needed.  If you cannot give clients what they want, your product is not of value to them.  A
large want by the customers in the smartphone market is definitely internet, e-mail and social networking usage.  A large want by the app developers is for apps being produced to be bought.  For myself, free apps is definitely a sufficient apology (or bribe) from RIM.

Picture acquired from;
http://blog.brandprotect.com/Blog/bid/65436/RIM-s-Social-Media-Reputation-Management-Nightmare

Recently, American and Canadian banks have created charges for using your debit card.  If you make purchases with your debit card, you will be charged a certain amount per month, usually three to five dollars.  In my personal opinion, it seems like banks are looking for a quick and easy way to make a profit.  With the large number of debit transaction that occurs in Canada and the United States, the profits of the banks are expected to be billions.

Since it is only an extra five dollars per month, is it going to affect their customers?  Perhaps will customers go to lower banks that charge lower or no rates at all?  Personally, I would just switch to using my visa card, which has no transaction fees whatsoever.  Other people seem to have this mentality also.  So while it may not affect the amount of customers the bank has, they may not profit as much as they would
like, if customers do find other way to work around these fees.

Conrad Black began as an investor who eventually climbed his way to the top of the corporation chain.  Between 1999 and 2001 one of his invested companies, Hollinger International, sold multiple newspaper and publishing companies that they had owned.  After this deal, Black had commenced diverting funds from the company to his own personal bank account as well as other fraudulent schemes such as the “Lerner Exchange”.  It wasn’t until 2007 that he was convicted of these crimes and sentenced to prison.  Prison was not the only punishment; he was required to pay $6.1 million to Hollinger International and a fine.

Conrad Black showed no signs of proper business ethics in his actions, this case demonstrates stealing and dishonesty.  The results of this case show that unethical actions, such as Conrad Black’s, are not tolerated in the business world.  Along with his sentencing, his reputation has also taken a big hit.  Conrad Black has recently returned to prison in Miami.