In the mood for an interesting read? #BusinessTrends

Blog post inspired from the article – http://www.bbc.co.uk/news/business-23944571

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Running a business in a politically unstable environment can be tough. Many of us do not imagine ourselves in such circumstances. However, thousands of business owners are actually in such situations. War zones, politically unstable countries, civil riots… These can be extremely disastrous to a company’s success. The issue here is, how do small businesses survive in such a hot environment?

Being in a constant crisis environment for a business can be extremely unsettling, both financially and literally, for its infrastructure. Therefore, there are certain steps which can be taken to minimise the effect of the environment on the business itself. In my opinion, the following are suggestions which can be implemented.

Firstly, they can conduct an internal and external assessment (PEST) of factors which may affect them. These include external forces (Economic, Political, Technology, Social etc.). Next, they can identify strategies and evaluate steps to take in order to minimise the effect of these external forces on business. Finally, they can set long-term objectives to help them achieve a more stable business environment, therefore becoming more predictable and successful.

Overall, surviving a crisis zone can be difficult, but can be overcome if the right strategies are implemented.

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Blog post inspired from the article – http://www.bbc.co.uk/news/business-24853536

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Entrepreneurship,  based upon the pursuit of opportunity, has most definitely come a long way in regards to changing technology, consumer preferences, financial risks… and the list goes on. Essentially, when we think of Entrepreneurship, the most common thought is that of starting a new business. However, in the era which we are in now, it is much more than that. It takes skill, effort, and experience to become a serial entrepreneur. 

There are many aspects to entrepreneurship, and each one of us may prefer a different one. For Judy Estrin however, it was the spirit and excitement of team-building which led her to start up her several businesses. She has learnt a lot through these startups, and one of the most important lessons that we can take from her experiences is that of failure. Failure is “an inherent part of entrepreneurship”, and while we should take calculated risks, entrepreneurship does sometimes take away more than what we expected.

In brief, many of us may aspire or dream to become serial entrepreneurs, however it takes a drive which may be different for each one of us. Therefore, to succeed in entrepreneurship, we need to find our individual driving factors.

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Think you know what it takes to become a serial entrepreneur? Think again! Check out the video below – it may just debunk some presumptions you had about entrepreneurship itself!

Google’s best advertisement yet. Such a classic topic, but regarded as one which is so controversial,  no one talks about it. The troubled history between India and Pakistan. This advertisement is bold in so many ways, and Google has clearly taken a leap here in connecting with the Indian and Pakistani audiences.

There is something profound in this advertisement, which is that of its truth and nature of the story. It is a fantastic example of when a company tries to bridge the cultural gap between its customers, and the firm. Sometimes, a firm needs to do something as bold as this, to really strike a powerful message. Google has done exactly that, by touching on such an un-talked about subject, and then associating that issue to its product.

There will always be a time when a firm needs to connect with its customers. To do so, there needs to be a certain understanding between the two parties. This can be established through an advertisement like this one. It is truly touching in itself, and in the message it portrays of bringing together lost friends in the separation between Indian and Pakistan. Definitely a huge leap of faith by Google.

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Post inspired from the article – http://en.rocketnews24.com/2013/11/19/google-ad-wins-praise-for-touching-on-troubled-history-of-india-and-pakistan/

Post inspired from the following article: http://www.bbc.co.uk/news/business-24801980

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Has making a few videos here and there ever made you millions of dollars? The obvious answer is no. Well… usually. For 23 year old Jamal Edwards, YouTube videos have made him a fortune, literally. The question here is… does creativity always lead to returns?
Some people would think that if you have a brilliant idea, it will lead to success.

However, this is not always the case. For Jamal, entrepreneurship is a key quality, which plays a huge part in the development, and final execution of an idea. After all, ideas can stem from any part of our daily lives, but what makes them worthwhile in a business sense, is when they are planned and carried out with a clear strategic direction. Nonetheless, you have to find your talent and then pursue it like no other. And that means working hard all around – constant ideas, passion, and open-mindedness. All of these are the pillars of becoming a successful entrepreneur. In fact, Jamal incorporates all of those qualities into his work.

The key message here is – when you have a great idea, pair it up with hard work, fantastic execution, and entrepreneurship skills. That is when success is achieved.

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Apple CEO Tim Cook: “For too long, too many people have had to hide that part of their identity in the workplace.”

Blog post inspired from: http://money.cnn.com/2013/11/04/news/companies/apple-cook-discrimination/index.html?hpt=hp_t2

Apple’s very own argues protection for LGBTs 

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If you had a different sexual orientation to everyone else, would you still like to be regarded as the same person? Would you want to work somewhere where you would be seen as… different… weird… queer…?
I think we all know the answer to that question. Apple’s CEO Tim Cook, an influential person no doubt, is leading the tech industry into a field unknown. That of human rights. In fact, this translates into an embodiment of Apple’s employee culture. Without doubt, this topic ties right in with Ethics and even Corporate Social Responsibility.

For a firm to be accepting of all individuals, they must begin doing so within their structure. Therefore, commenting on public issues and paving the path for real issues to be solved, is a way of doing so. As Cook believes, it is unfair to fire someone based on their sexual orientation. This brings about many perspectives from various areas, and to take a stand against such a public issue is daring and courageous.

Essentially, Cook is opening up his firm to the urban society around it. By accepting all types of people, those same people will accept the firm into their lives… Workplace equality is established!

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Read Tim Cook’s actual opinion column on this issue right here! –

http://online.wsj.com/news/articles/SB10001424052702304527504579172302377638002?mod=WSJ_Opinion_LEFTTopOpinion

2012 Tesla Model S. The world’s first premium electric sedan.

Article taken from – http://finance.yahoo.com/news/tesla-shares-fall-reports-second-205008218.html

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The latest Tesla Model S. Revolutionary technology in the world of auto-motives. Although their share prices rose 400% due to the release of their latest Model S, a simple accident can lead to a ‘fiery crash’ of Tesla’s share prices. Obviously, the car has been cleared to be on the road in accordance to federal safety standards. However, when this happens, one should consider the steps a firm must take in order to assure the safety of its customers, and more importantly, assure consumers that they have the situation under control.
Step 1. Just as Tesla Motors did, respond with a statement defending their product. Next, showing that the customer who was involved in the crash is safe and sound, assures customers the consumer is confident in the product. Finally, launching an investigation into the event is crucial.

The message here is that if a company takes the appropriate steps necessary, and responds with why the event occurred, a disaster can be avoided. Further, if a proactive approach is taken, it will also reduce the scrutiny which the firm is under by authorities. This “Hot Wheels” incident is one which was well-managed, therefore minimising damage to the firm.

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See below for the actual video of the Tesla Model S crash!

The all-time million dollar question: How do I make my team work effectively? Being an ‘effective leader’ is not a task for everyone – leaders need to inspire action, better those around them and gain the respect of others. To do all of this, you need to be skilled in the various aspects which encompass leadership.

Personally, I believe there are a few key characteristics which a leader needs to embody. These include boldness, clear direction, balanced, responsible, organised, … (as you can see, this list of adjectives could go on forever). The real focus here however, is how an effective leadership role is vital from a business’s standpoint.

Essentially, leaders in companies must be able to “improve teamwork, improve productivity, and performance…” but most importantly, create greater leadership capability. Through my experience of watching my own mentors, who work for large corporations, I have seen a common quality in each one of them. They are able to inspire truly greater leaders than themselves. The value of this goes beyond what is usually expected of leaders, and we should consider how we can aspire to be effective leaders.

In brief, leadership is required in literally every industry, and (almost) every job placement. Clearly, it is a skill worth investing in.

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To read more about how to be an effective leader, follow the links below!

http://www.businessblogshub.com/2013/10/can-you-turn-someone-on-your-team-into-a-good-leader/

http://www.inc.com/peter-economy/7-traits-highly-effective-leaders.html

2 of my favorite TED Talks on leadership –

(Embedded from http://www.ted.com/topics/leadership)

There are many stakeholders involved in the US Govt. shutdown.

In the short run businesses can be affected by such an event, as any projects, which are ongoing alongside the govt., will immediately be put on hold. This could cause consumer and investor confidence in the company to decrease, thus driving share prices down significantly as the revenue stream is withheld. In the long run, their budget reports may be affected due to undelivered work or a lack of financial reporting for the time period of the shutdown. In turn, this may affect future bank loans and the credit history of the company.

In order to prepare for such crises, businesses can hold financial reserves to keep operations going. However, it is hard for the company to budget such a scenario due to the uncertainty involved. Secondly, by holding the hiring of new employees or deployment of new R&D. Lastly, they can focus on critical deliverables during the period of the shutdown, by keeping only those employees in the office who are essential to the execution of the projects.

Overall, a govt. shutdown is not ideal, but business owners can take precautions to keep it from shutting their business down!

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Blog post in relation to – http://www.bbc.co.uk/news/business-24328353

An example of a firm bracing for the shutdown – http://www.inc.com/jeremy-quittner/small-business-responds-government-shutdown-threat.html

Check out my friend Gabriel’s blog for more interesting business blog posts! – https://blogs.ubc.ca/gabrielchua/

Apple gets five-year injunction over ebooks pricing affair 

Apple Inc’s Logo

Link to article – http://www.theglobeandmail.com/technology/business-technology/apple-gets-five-year-injunction-over-e-books-pricing-affair/article14158847/

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This article touches upon an ethical responsibility that is held by a tech giant as large as Apple.

Firstly, Apple is being unfair to consumers by trying to merge with other firms in order to dominate the e-book market.

This news has affected the shares of Apple “down 0.1 per cent at $494.64 in morning trading.” a perfect example of what may happen in the short-run when consumers believe that a company is violating its ethical responsibilities, otherwise known as Corporate Social Responsibility (CSR). Further, the injunction is a bad record on the company’s ‘transcript’, and may affect business through sponsors or 100s of other areas (future mergers, business partners etc.)

Ethics is the most fundamental aspect in running a business. Therefore, apart from the short run effects, violating the code of ethics also leads to long run consequences. These could include a reduction of applications for jobs in the company, a substantial loss in sales or boycotting, negative publicity, legal troubles due to regulations (i.e. environmental laws), destroyed brand reputation, and the list goes on…

All together, it is imperative that a multi-national corporation ensures it is fully compliant with the idea of CSR in all aspects of its operations.

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A concise 10 point list on the principles of positive business ethics can be read here. It presents a fantastic piece on the key aspects of Business Ethics –http://www.philiphumbert.com/Articles/10BusinessEthics.html.

A very interesting read on the pros and cons of Apple Inc. by Investor Place – http://investorplace.com/2012/02/is-apple-a-buy-3-pros-3-cons/

One of my favourite quotes, by Immanuel Kant – “In law a man is guilty when he violates the rights of others. In ethics he is guilty if he only thinks of doing so.”