Billy's blog

I stumbled upon this blog written on entrepreneur.com. Carol Tice, the author of the blog, is exploring the shift in businesses staying open even for major holidays such as Thanksgiving. I found this blog to be very interesting as I have never actually looked at this instance from the perspective of an employee. I’ve always understood that by opening on a holiday, a business may be able to generate more holiday sales revenue. But I have not given much thought about the employees who are pressured into taking a holiday shift. Instead of being able to spend time with their families they will be working (although they do get a higher rate of pay). Contrary to Carol Tice’s blog, I feel that the blame can not be solely placed on retailers as they do not force people to buy their discounted goods, nor force their employees to work.

I was reading through a couple of blog entries, and Joshua Favel’s entry regarding Nalgene caught my eye.

“Perception, not fact, is what counts in branding.”(1)

I have to agree with Joshua’s quote here regarding branding. For a majority of products, one of their key marketing strategies is through word of mouth. This strategy relies on positive feedback circulating between individuals. But when the feedback becomes negative or in some cases untrue, that is when the product comes under fire. Consumer opinions matter, whether these opinions be justified or not, negative publicity will leave a mark on a business. Without customers, a business wont be able to function as none of its goods or services are being purchased. It is important to keep your customers content, as they dictate the success or failure of a business.

1) https://blogs.ubc.ca/joshfavel/2011/10/08/unbreakable-brand/

Picture taken from: http://nalgene.com/

In the 1960s Italy gave generous benefits to its workforce such as bountiful job security, good pay, and lots of holidays. Currently Italy’s GDP growth sits at a shockingly low 1%(1). The labour issue has become a huge problem, as the laws are restricting employers from freely hiring and firing employees. Although Italy sought out to protect its workers with labour laws, their full effects are being felt some 50 years later by the workforce.

I feel that the labour issue in Italy is a case of complacency. It was doing very well, and as a result they felt as if they were doing everything right. Perhaps they were, as evidenced by their economy, however they failed to look ahead and prepare for oncoming changes such as the emerging importance of globalization. As a result, all of their regulations and laws became outdated, resulting in hindering their economic growth as they had limited flexibility. As a result of their poor judgement, they are now reaping what they have sown

1) http://www.businessweek.com/magazine/italys-labor-pains-11162011.html

I agree with Clarisse Ong and her opinions regarding the fact that business’ need to have a succession plan.  Businesses have to be prepared for the constantly changing environment that they operate in. They cant be hardened in their ways, otherwise they run the risk of falling behind and disappearing. However, predicting changes in consumer demands is difficult and requires great insight and instinct.

I also agree with Clarisse’s opinion regarding the necessity of a business plan. As we learned from doing the business plan assignments, a business plan definitely provides guidance and helps with raising funding for business ventures. An effective business plan explains what and how a business plans to achieve its business goals. This would definitely come in handy if a business were to attempt to create a succession plan.

Foursquare is a social networking application that began in 2009. People who log on “check-in” to real life locations via. phones. “Check-in” result in points and badges that users can collect and show people they know. As for the moment, Foursquare has not generated profit yet, but it has more than 15 million users now(1).

I think Foursquare is entrepreneurial in the sense that they have found a product with great potential.  As society continues its smartphone shift, the number of Foursquare users should continue to grow rapidly. Foursquare takes full advantage and piggybacks onto the success and popularity of smartphones. However the real treasure that Foursquare has stumbled on is the fact that they now have knowledge regarding “where consumers choose to go and purchase items“(2). Foursquare didn’t develop the technology that allows users to access Foursquare, but it did develop the ability for users to connect to each other through mobile devices.

1)https://foursquare.com/

2) http://www.socialmediaexaminer.com/foursquare-are-you-checking-out-the-hottest-social-media-app/

Picture taken from: https://foursquare.com/

A study by Gallup shows that 71% of workers in America are “not engaged” or “actively disengaged” at work. “This research is based on worker responses to 12 actionable workplace elements with proven linkages to performance outcomes, including productivity, customer service, quality, retention, safety, and profit”(1). One of the most shocking facts identified through this study is the fact that “highly-educated and middle aged workers are less likely to be engaged” (2).

I find it rather shocking that such a large percentage of people are not stimulated at work. It boggles my mind how there is no huge radical change within businesses to attempt to remedy the problem. Poor engagement most likely leads to lower levels of productivity and perhaps high turnover rates as well. Both of these results are costly to a business, turnover rates in particular could be costly especially if the position is highly specialized and it could be since many highly-educated workers are less engaged. I think that businesses in the U.S. need to take steps to fix this problem and find a way to motivate their workforce so that they are interested in their jobs.

1) http://www.businessinsider.com/majority-of-american-workers-are-not-engaged-in-their-jobs-2011-10

2) ibid

Picture taken from: http://www.businessinsider.com/majority-of-american-workers-are-not-engaged-in-their-jobs-2011-10

On October 26, 2011 Boeing 787 landed in Hong Kong, China. The Boeing 747 is the first of its kind as it is Boeing’s most fuel-efficient commercial jetliner. Instead of typical aluminum alloys, this aircraft consists of carbon composites. Boeing already has over 800 orders for 747 from all over the world.(1)

The demand for fuel-efficient commercial jetliners shows that businesses are aware of the importance of going Eco-friendly. While being more aware of the environment may be more costly to a business in the short-run, I feel that it definitely pays off in the long run. By going “Green”, a business improves its brand image, may benefit from government subsidies, and becomes sustainable. Sustainability is a big deal and more businesses are treating it rightfully so.

1) http://technorati.com/business/article/boeings-787-safely-landed-on-first/

Picture taken from: http://technorati.com/business/article/boeings-787-safely-landed-on-first/

BlackBerry has BBM.

Android has TextPlus.

Now Apple is coming out with iMessage.

The iMessage of Apple is essentially the BBM of BlackBerry. It allows iPhone and iPad owners to text other iPhone and iPad users through some form of internet connection. Now this technology has not just suddenly appeared, it has existed for a long while through the forms of MSN Messenger, Skype, etc. but it has not actually caused a large number of customers to cancel their text messaging plans altogether. However, this release from Apple may just push people into doing just that, and in return it could have a pretty large effect on the mobile carriers.(1)Consumers may no longer be willing to pay for over-priced text messaging plans. With customers who are always looking for ways to save money, this could be a huge blow to phone carriers if they do not manage technology well.

Study says in Dec. 2009, 42% of U.S. uses a smartphone(2), which means that there will probably be an even larger number of smartphone, and by extension iPhones, used today. Although Apple wont be the first company to be in the messaging segment, it will definitely become a major competitor and possibly even achieve parity with BlackBerry and nullify their point of difference.

1) http://www.nytimes.com/2011/10/10/technology/paying-to-text-is-becoming-passe-companies-fret.html?src=me&ref=technology

2) http://mobihealthnews.com/6178/study-42-percent-of-u-s-uses-a-smartphone/

Picture taken from: http://blog.etelesolv.com/Telecom_Expense_Management_Blog/bid/67530/What-will-Apple-s-iMessage-mean-for-carriers

http://blog.mqgroup.com/index.php/2010/01/22/smartphones-continue-to-be-the-way-of-the-future/

“Always Fresh. Always Tim Hortons”(1)

The slogan is fairly well known around Canada. Is Canada’s favourite coffee franchise guilty of practicing unethical advertising? It certainly seems so as the word “fresh” usually does not mean “frozen, stored, and reheated”.(2) Tim Hortons appears to be taking advantage of consumers and their naivety. The slogan attracts consumers but they are being mislead into believing that they are purchasing a product that is in fact fresh. Sure a business first priority should be to generate profits for its shareholders, however a business does not necessarily need to go about it in an unethical way. There are ways to make money while still staying within the confines of regulations, laws, and rules. I feel that the unethical advertising employed by Tim Hortons not only reflects poorly on their own business but also to an extent on Canada and all that it represents as well.

1) http://www.timhortons.com/ca/en/

2) ibid

Picture taken from: http://www.gpspassion.com/forumsen/pop_printer_friendly.asp?TOPIC_ID=66445

Netflix has gained massive popularity and has become a market leader by taking advantage of changing consumer tastes. Recently Netflix announced that it would be separating its DVD business and placing it under a new entity, Qwikster.(1) Customers will now have to make another account in addition to their original Netflix account and be billed separately in order to access the Qwikster services.(2)

It seems as though Netflix has forgotten why it has become such a success.  Customers stick with Netflix because of simplicity and convenience. This tactic will only complicates matters and may also potentially anger customers. The company seems to be neglecting what the consumers want, instead they are only focused on their own growth. Netflix has to look to similar businesses in their fields which decided to ignore consumer tastes. Companies such as Blockbuster are a prime example of what happens when consumer tastes are ignored.

1) http://venturebeat.com/2011/09/18/netflix-qwikster-video-games/

2) http://www.businessweek.com/news/2011-09-19/netflix-separates-dvd-business-as-qwikster-adds-video-games.html

Picture taken from: http://www.techi.com/2011/10/netflix-aborts-qwikster/