China bans garbage imported from overseas.

China faces major issues as garbage imported from international countries continues to increase. According to the Bureau of International China Recycling, the southeastern country imported over 7.3 million tonnes of plastic scrap from Europe, USA, and Japan in 2017. This led to an abundant amount of garbage being stockpiled within China.

As a result, China, along with a few companies, started a corporate citizenship campaign. A unanimous decision to reduce and eventually ban 24 types of garbage imported from overseas countries.

Initially, China’s decision to decrease imported garbage will harm recycling companies. Over time, however, Chinese recycling companies will depend on less on garbage imported overseas and spend more time on recycling garbage produced within China. In addition, Chinese recycling firms will have access to an abundant supply of recycled materials for a lower cost. This is because waste procured within China is cheaper than waste from outside of China.

I believe that China should consider exporting domestic waste to other countries with growing recycling markets such as India. China can also reuse waste as raw materials. I believe that China’s decision to decrease the amount of garbage imported from overseas will be beneficial to the environment and China’s population. Moreover, it will create jobs in the recycling industry, specifical jobs in operations, and manufacturing.

Without the ability to export garbage to China, international recycling companies will be forced to spend more time on recycling and reusing domestic garbage. As well, invent new ways to reuse garbage, or increase the speed at which garbage is recycled. As a result, technological advancements in the recycling industry will occur. In addition, aspiring entrepreneurs and intrapreneurs will invent new products that will result in the disruptive innovation of incumbent recycling firms. An example of this would be Plaxx. The company- Recycling Technologies- which developed a machine to melt mixed plastic waste and turn it into crude oil. Plaxx oil is more environmentally friendly than regular oil and is a potential substitute for fossil-based heavy fuel oil. In addition, technological advancements in the recycling industry will result in more jobs related to business technology management.

Alas, China’s decision to decrease and eventually ban waste imported from overseas may also have detrimental effects on the China’s economy. Numerous recycling firms may declare bankruptcy and thousands of people could lose their jobs. In addition, China may be cutting off a huge revenue stream. In 2016, China imported 45 million tonnes of waste which altogether was worth 18 billion dollars.

Using the concepts I learned from class, I am able to comprehend and analyze China’s decision to ban imported waste from a business perspective.

Word count: 437

References:

The Burning Problem Of China’s Garbage. (2017, February 20). Retrieved from http://www.npr.org/sections/parallels/2017/02/20/515814016/the-burning-problem-of-chinas-garbage

Charlotte Gao, The Diplomat. (n.d.). China ‘Urgently’ Bans Foreign Trash Imports. Retrieved from https://thediplomat.com/2017/07/china-urgently-bans-foreign-trash-imports/

China says it won’t take any more foreign garbage. (2017, July 18). Retrieved from https://www.reuters.com/article/us-china-environment/china-says-it-wont-take-any-more-foreign-garbage-idUSKBN1A31JI

China Tells WTO: No More Garbage Imports. (2017, July 23). Retrieved from http://www.triplepundit.com/2017/07/china-will-no-longer-accept-worlds-garbage/

China?s trash is taking over. (2015, May 11). Retrieved from https://beta.theglobeandmail.com/news/world/chinas-trash-is-taking-over/article24367032/?ref=www.theglobeandmail.com&

China’s War on Foreign Garbage. (2017, July 20). Retrieved from https://www.bloomberg.com/view/articles/2017-07-20/china-s-war-on-foreign-garbage

Why China is sick of foreign garbage. (2017, August 21). Retrieved from https://www.economist.com/blogs/economist-explains/2017/08/economist-explains-8

Sears downfall:

Consumers subconsciously choose brands based on touch points and competition. In my opinion, Sears’s inability to understand consumer decisions, invest in consumer-driven marketing and maintain customer loyalty all contributed to the company’s demise. In addition, Sears’s poor treatment of employees and failure to pay off debt loans had a detrimental effect on the company’s brand image and company morale. As a result, the company was forced to announce liquidation and close more than 74 stores in areas with populations of 400,000 people.

Sears made the error of developing a marketing program catered towards satisfying the “average consumer”. Each market is composed of submarkets with their own characteristics and preferences. As a result, Sears could have adapted its products and services to meet the needs of the individual consumer. For example, Sears’s clothing apparel targets individuals who receive a fairly low income. This includes individuals between the ages of 10 to 35. In regards to clothes, Sears could have specifically targeted a smaller age group, possibly between the ages of 20 to 25 years old. Successful companies who employ this strategy include H&M and Forever 21.

Moreover, if Sears conducted extensive marketing research on the effectiveness of its advertising, it could have shifted from a traditional marketing strategy to an all-digital marketing strategy. It could have invested in social media marketing, advertised through YouTube videos, and focused on selling more products by telephone.

From Commerce 101 class, I also learned that how the employee perceives both the brand image and the products associated with it are extremely important. After much research, I discovered that the majority of the consumers perceived Sears as a big but old hardware store that produced low-quality goods. Moreover, it targeted individuals who received a fairly low income. In order to increase sales and prevent liquidation, Sears should have reinvigorated and revitalized its brand image.

Moreover, Sears should implement performance management strategies such as
performance reviews to understand why employees believe they are being treated poorly. In addition, Sears should have more than one point of disparity to differentiate itself from other competitors.

Ultimately, Sears made strategic business errors that led to its demise. If I choose to pursue a career in entrepreneurship, I will learn from Sears mistakes. and make careful decisions in the future.

Word count: 379

References:

15 Marketing Strategies That Inspire Strategic Thinkers | Inc.com. (n.d.). Retrieved from https://www.inc.com/murray-newlands/15-marketing-strategies-that-inspire-strategic-thinkers.html

The consumer decision journey | McKinsey & Company. (2009, June 29). Retrieved from https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-consumer-decision-journey

Court OK’s Sears Canada liquidation, all stores to close – Business – CBC News. (n.d.). Retrieved from http://www.cbc.ca/news/business/sears-closures-impact-small-communities-1.4353011

Sears reports wider fourth-quarter loss | Toronto Star. (n.d.). Retrieved from https://www.thestar.com/business/2017/03/09/sears-reports-wider-fourth-quarter-loss.html

Sears Worst Practice Core Business Strategy. (n.d.). Retrieved from https://www.thebalance.com/sears-worst-practice-core-business-strategy-2891858

Why Sears is failing and closing stores – Business Insider. (n.d.). Retrieved from http://www.businessinsider.com/sears-failing-stores-closing-edward-lampert-bankruptcy-chances-2017-1