The Arc Initiative is a special program at the Sauder School of Business which promotes social entrepreneurship in developing countries such as Ethiopia, South Africa and Colombia. Students who take part in the Arc Initiative travel to these developing countries and educate them on how to be entrepreneurs by giving them a helping hand in starting up their business in the beginning (teaching them how to manage funds, sell their product etc.). The United Nations’ purpose is to help fund developing countries who are struggling economically by providing them with monetary resources.

Students at the Sauder School of Business who are involved in the Arc Initiative program are making tremendous positive changes in the developing world.

The question posed here is “If the United Nations was fully funded why would we need the Arc or social enterprise?”

My response to this is that the Arc Initiative actually instils qualities in people in the developing countries so that they can help sustain the economical success that they may encounter. Whereas the United Nations just gives money to these countries and educates the government on how to spend it. I feel that it is more important to begin implementing values in the people who determine how the economy does and build future leaders- the citizens of the country.

Micromanagement is a growing issue in the workplace.

There is no doubt that no employee likes to be micromanaged in the workplace. Micromanagement is a sign of a controlling manager who does not trust their employees enough, therefore harming the workplace environment. After reading a blog from the Harvard Business Review, I was surprised to learn that most bosses micromanage subconsciously. Micromanaging appears to be a major issue in the workplace and creates a sense of hostly among bosses and workers. As a result, it is imminent that workers will not be motivated to do their work, resulting in a lower quality of work. This, once again leads to the manager making a mental note that the employee must be managed more closely as their work is quite careless- resulting in an unhealthy relationship cycle.

One one side, I believe that it is important to pay attention to the work which employees do- after all that is one of the main objectives of a manager. However, it is also important to exhibit a sense of trust and appreciation towards those who deserve it and to give all employees a chance to prove themselves before making assumptions which drive one to micromanage subconsciously.

Price skimming is an effective technique used by companies to attract more buyers by gradually lowering the price of a highly anticipated/desired product. The Sony PlayStation 4 is just one example of a product which was highly anticipated by millions of people of which several did not purchase due to the price tag.

After reading my classmate’s blog on this topic, I realized that as a result of the price skimming tecnique the PlayStation 4 has done extremely well in terms of sale in comparison to its rival- Xbox One. However, that does not mean that there are no disadvantages to Sony. As a result of lowering the price, the company is engaging in price discrimination- which means that they are charging different customers different prices depending on how much they want to pay for the product. This can inflict a sense of unfairness and unhappiness among customers who paid the higher price for the product only for the company to lower the price a few months down the line.

Although it may be beneficial financially and in terms of the number of units sold, price skimming does have its disadvantages which include dissatisfaction among customers resulting in a decrease in customer loyalty.

Sony’s PlayStation 4 still leads the race- outselling Microsoft’s Xbox One.

It is a well-known fact that significant amount of tension exists between North and South Korea. What if one was to say that the two neighbouring countries are involved in a process of negotiation? After reading the blog of my classmate, I was quite surprised to learn that North Korea was considering loosening its trade barriers and potentially working with South Korea. If negotiations were to be successful, there would be a colossal impact on the world economy and the way countries trade. It would open up a new market for countries to sell their goods as well as a new source from which to import materials. From this news, one can make the inference that perhaps North Korea is struggling economically and has no choice but to open up to the rest of the world.

North Korea may potentially open up to trade with its southern neighbour.

In my opinion however, this claim is a bit far fetched. At this point in time, it seems unrealistic for North Korea to co-operate with another country- especially an ally of the United States.  Although, it is an extremely riveting thought which brings much excitement to people who see the amazing opportunities which potentially await.

The topic of minimum wage has been an issue in the US for quite some time now. The majority of voters are on the same page and agree that the minimum wage should be increased. However, there is a lot of pressure from lobbyists who support small businesses who in turn think that increasing minimum wage will place too much of a financial strain on them and will cause them to hire less workers. Minimum wage in the U.S. varies by state, however as per federal law – all states must have a minimum wage of at least $7.25.

The change in minimum wage since it was first introduced.

The solution to this issue will always remain unclear. However if look at the rate of poverty in the U.S. after the financial crisis; we can see that it is at an all time high. People are in desperate need of money and most of the people in the workforce are earning minimum wage. According to the article, studies show that when minimum wage is increased- the impact on employment levels is hardly affected. Lastly, if people have more money to spend, the economy will be impacted in a positive way. Therefore, I believe it is crucial that the minimum wage in the U.S. be increased.

People residing in the villages located on the shores of Yanqi Lake were robbed of their homes by the Chinese government in order to make way for the new luxury resort which will host leaders of the Pacific Rim countries (including PM Stephen Harper). The families who were forcefully relocated had been living in those villages for several generations and knew no other way of living. As a result of the relocation, these families suffered a loss in income as they used to make a living renting inns and selling fruit from the orchards. In addition they were compensated extremely poorly and as a result were unable to buy adequate houses.

The Chinese economy is growing rapidly at the cost of the well-being of the citizens.

Unfortunately, this kind of forceful takeover of a citizen’s property is legal. Although the Chinese government is working very hard to achieve economic glory it is doing so at the cost of its people. Leaders in the business world should always behave in an ethical and compassionate way; trying to make life easier for those who need it most and at the same time make decisions in the best interest of the greater good. The Chinese government officials should act in a more socially responsible way but at the same time strive to achieve their goals.

A B.C. First Nation has revealed intentions to create a Tribal Park on an area of land on which Taseko Mines Ltd. was planning to use in their upcoming project. This action has created much confusion in regards to the validity of the claim and future of the project. The people of the Tsilhqot’in Nation have always been opposed to activities that pose threats to the natural environment such as mining, fishing and hunting- so naturally they will do anything in their power to stand by their beliefs.

The natural environment the First Nation is trying to protect.

This article was particularly interesting to read as both parties have very valid reasons as to why they should be allowed to use the land. On one hand, Taseko laid claims to the land first and their project had been approved by the provincial government. However, the Tsilhqot’in Nation have been found to have the rights to 1,750 square kilometres of land west of Williams Lake. This type of conflict is becoming a prominent issue in today’s business world. Ethics are constantly being questioned and the line between right and wrong is often blurred. In this particular situation I think that the cost of harming the environment outweighs the benefit to the economy from the project. Therefore, I feel that the decision to allow the project to continue on the land in question should be overturned.

General Motors Co. (GM) announced on Friday, October 3rd that it was recalling approximately 530,000 vehicles due to potential latch problems and loose parts. The recalls consist mainly of Cadillac and Saab SUVs and small Chevrolet cars. This could bring General Motors (the number 1 car manufacturer in the United States) to 71 this year and tarnish the reputation of the company. In addition, GM told dealerships to stop selling the newly released Chevrolet and the GMC Canyon due to possible airbag problems.

This obviously shines a negative light on any company but especially GM who is trying to bounce back from the financial crisis of 2008 in which the suffered tremendous losses. GM has a history of recalls and due to the nature of these recalls, people’s views on the company are turning to be more negative. GM is still a reputable company, and mistakes are of course inevitable. However, because these cars have defects that could possibly endanger the lives of customers, I think that it gives consumers reasons to choose competing car manufacturers over GM.

The government of Ontario is requesting the school board trustees to reverse their decision on a pay raise they granted themselves. On average, school board trustees earn from $5,900 to $6,900 however, the Government imposed a “salary freeze ” upon the trustees for a period of 4 years. As a result, the trustees feel disrespected and under compensated for their services.

Education is an extremely important element of society and it is important to ensure that the quality of education in a developed country  such as Canada is of the highest quality. The government’s rationale for extending the salary freeze is that everyone needs to play their part in order to put less strain on the government’s financial abilities. However, I feel that a small increase such as 4% in the salaries of school board trustees, who already earn very little is not going to be a major financial burden on the government. To them it is not about the money but also about feeling appreciated. In addition, one can relate this situation to the one in British Columbia, in which educators were in the midst of negotiation for such a long period of time until the government finally gave in. The only party that would lose in a situation like this is the students who are in essence the future.

Chinese executives claim that the labour laws in place in B.C. are limiting them in the way they are used to doing business. They are complaining that labour costs take up 35% of all operational expenses and that the minimum wage and maximum work week hours are hurtful for their businesses. This is due to the labour regulations in China; which are rarely enforced. China’s business laws are in the extreme favour of business owners and as a result, the workers have no opportunity to economically advance. The backward mentality in China is such that they own the workers and treat them very poorly and compensate them with very little.

Although I understand that it is important to stay profitable as a business; it is also crucial to treat workers well and abide the laws in place. A company is what it is due to the hard work of the employees and cutting costs by under compensating them, a negative environment will be created. As a result, quality of work will naturally deteriorate and it is the company that will ultimately suffer. After taking an organizational behaviour course, I realize that it is crucial to make sure that the employees of a company are kept happy and motivated in order to achieve a high level of efficiency.