The future of Apple:

Apple is famous for its monopolistic control over the phone market. With over 79 percent of global smartphone profits and 17.9 percent of smartphone market share, Apple is able to dominate other competitors such as Sony and Samsung. The company, however, is off to a rough start this year. Dissatisfied buyers complain that the iPhone X screen would freeze during cold temperatures. A phenomenon dubbed the “iPhone X touch disease.”

Recently, Apple has offered to repair iPhones with the “touch disease”. To prevent these types of issues from occurring and further understand consumer needs, Apple could incorporate more data mining strategies such as online surveys.

In class, we learned about corporate shared value. Apple is slowly shifting from corporate social responsibility to corporate shared value. In the future, Apple can look to build supportive industry clusters, reconceive products and markets, and redefine productivity in the market chain. Apple has already started to eliminate landfill. In 2016, the company developed a zero-waste manufacturing facility. As well, developed a machine that was able to recycle up to 100 percent of waste. Since 2016, Apple has also reduced carbon emissions by removing 1,500,000 cars every year and creating 4 gigawatts of renewable energy. Moreover, Apple has conserved over 14.3 billion liters of water since 2013.

In class, we also learned the importance of human resources and labor management. To increase profitability, Apple needs to train employees to deal with conflict and conduct annual performance evaluations. This will benefit the company by increasing employee productivity, creating an incentive to work and indirectly increase customer satisfaction. Apple has already started to invest in their employees. In 2016, Apple trained over 2.4 million in employment rights and had over 689 thousand participate in life skills training.

To increase profitability, Apple needs to target it’s products to developing countries. This will lead to the development of a new market space without effective competition. In other words- a Blue Ocean. By employing differentiation and low-cost strategies, value innovation and disproving the value-cost trade-off, Apple will be able to outcompete its competitors.

Ultimately, Apple continues to meet societal and environmental needs. To this day, the multi-billion dollar company continues to dominate the mobile phone industry.

Word count: 358

1. Link to Ava Brezac’s blog: https://blogs.ubc.ca/avabrezac/
2. Link to external blog: http://www.cbc.ca/news/business/apple-stock-iphone-x-rebound-1.4307645

1) An insightful article that really describes what it means to be Canadian. Over the next few years, Canada’s business practices will continue to evolve. I found the article to be detailed, descriptive and extremely informative.

2) This is a smart decision to increase the demand for iPhone X’s. By decreasing supply, a shortage ensues and Apple can charge iPhone X’s for a higher price. I also believe that iPhone’s are a Veblen good- as price increases, demand also increases. This is because the iPhone X is considered a “premium item” by consumers.

References:

9to5Mac. (2017, November 9). Retrieved from https://9to5mac.com/page/4/

Apple (Canada). (n.d.). Retrieved from https://www.apple.com/ca/

Apple admits some iPhone X models freeze up in cold, promises software fix. (2017, November 10). Retrieved from http://www.cbc.ca/news/business/apple-iphone-x-cold-1.4397967

Apple’s ‘geniuses’ are straining under the iPhone’s success, but revamped stores could ease the pressure (AAPL). (2017, November 12). Retrieved from https://finance.yahoo.com/news/apple-apos-apos-geniuses-apos-133000811.html

Mark Gurman and Alex Webb. (2017, November 13). Apple planning an iPad redesign with iPhone X features. Retrieved from http://www.smh.com.au/technology/technology-news/apple-planning-an-ipad-redesign-with-iphone-x-features-20171112-gzjx6y.html

‘One more thing’: Apple unveils iPhone X. (2017, September 12). Retrieved from http://www.cbc.ca/news/technology/apple-iphone-8-10th-anniversary-launch-1.4284508

When is an apple not an apple? (2017, November 9). Retrieved from http://www.bbc.com/news/in-pictures-41833878

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

The Artificial Apocalpyse

The artificial apocalypse. Robots are taking over human jobs, according to progressivists such as Elon Musk, and venture capital firm founders such as Kai-Fu Lee. With the introduction of the autonomous car driving companies such as Waymo and the introduction of cyborg humans such as Neil Harbisson, artificial intelligence is playing an increasingly crucial role in our daily lives.

Computers are getting smarter with machine learning- a system that allows the artificial intelligence to develop through experience and time. According to CBC news articles, artificial intelligence could be used to analyze data based on market activity in the past and thus make smart investment choices. Using artificial data instead of human labor to predict market prices could prevent another destructive incident like the flash crash in 2010. When in 2010, A British finance trader was accused of spoofing- manipulating stock prices- to increase liquidity.

I believe that exponential improvements in technology will lead to the technological singularity. The concept where unparalleled technological development will cause unpredictable changes in human society. Additionally, businesses will operate differently from how they operate today. The main argument is that increased reliance on artificial intelligence will increase unemployment. Individuals most like to be unemployed vary. This includes employees working in fields such as accounting, finance, operations and logistics and much more. There will be no need for humans to make income statements, balance assets and liabilities and more. As well, investors may dislike a company’s preference to rely on artificial intelligence for labor. They may refrain from investing in companies initial public offering. As a result, the company’s stock prices will go down. Moreover, robots may eventually control humans and may be unable to demonstrate the compassion that humans generally show towards each other.

On the other hand, others believe that technological advancements will increase employment and exploration opportunities. For example: In Bavaria, the utilization of artificial intelligence was a common occurrence with unemployment as low as 2.6 percent. Ethical business behavior will become common in the workplace. Unlike computers, some humans are willing to do whatever it takes to make money. These activities are often immoral and illegal. This includes corporate fraud and more.

Moreover, the development of intelligent robots will overcome limitations set by humans. As robots will have access to new business resources possibly by digging for fuels underground. Robots also can operate long hours without the need to sleep, be unhindered by emotions, and be able to work repetitive, potentially life-endangering tasks. This can be done without a decrease in the efficiency or energy required to complete the task. In order to combat unemployment, the government could retrain Canada’s labor force to serve the increasingly important AI agency.

Word count: 444

References:

Retrieved from https://www.google.ca/search?       safe=strict&biw=1280&bih=551&tbm=isch&sa=1&q=artificial+intelligence+news&oq=artificial+intelligence+news&gs_l=psy-ab.3..0l2j0i24k1l2.6037.6490.0.6579.5.5.0.0.0.0.77.307.5.5.0….0…1.1.64.psy-ab..0.5.305…0i67k1.0.k6ClGBHH8BE#imgrc=JL8X8E7xDXpxxM:

Retrieved from https://www.google.ca/search?safe=strict&biw=1280&bih=551&tbm=isch&sa=1&q=artificial+intelligence+news&oq=artificial+intelligence+news&gs_l=psy-ab.3..0l2j0i24k1l2.6037.6490.0.6579.5.5.0.0.0.0.77.307.5.5.0….0…1.1.64.psy-ab..0.5.305…0i67k1.0.k6ClGBHH8BE#imgrc=eqJ6UXiqUzYqbM:

Artificial ai. (n.d.). Retrieved from http://i1.manchestereveningnews.co.uk/incoming/article11409803.ece/ALTERNATES/s615/AI-V2.jpg

BBC – Future – The real risks of artificial intelligence. (2016, November 10). Retrieved from http://www.bbc.com/future/story/20161110-the-real-risks-of-artificial-intelligence

Benefits & Risks of Artificial Intelligence – Future of Life Institute. (2015, March 5). Retrieved from https://futureoflife.org/background/benefits-risks-of-artificial-intelligence/

The challenges of playing the market against artificial intelligence: Don Pittis – Business – CBC News. (2017, September 25). Retrieved from http://www.cbc.ca/news/business/markets-trading-automated-ai-1.4300863

Elon Musk’s Billion-Dollar Crusade to Stop the A.I. Apocalypse | Vanity Fair. (2017, April 3). Retrieved from https://www.vanityfair.com/news/2017/03/elon-musk-billion-dollar-crusade-to-stop-ai-space-x

Forbes Welcome. (2017, April 28). Retrieved from https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/haroldstark/2017/04/28/as-robots-rise-how-artificial-intelligence-will-impact-jobs/&refURL=https://www.google.ca/&referrer=https://www.google.ca/

Business ethics blog

I believe that an ethical business seeks to compromise profit in order to fulfill societal demands. Unlike amoral business which seeks to maximise profit under unlawful circumstances.

In order for a business to maximise profit while maintaining good relations with the public, it must uphold the stakeholder theory. Moreover, it must be able to differentiate between what is morally right and wrong.

In my opinion, it is important for ethical businesses to maintain a good public image and good relations with society. This is because business and consumers are interdependent on one another. Businesses require consumer demands such as public assets, legal protection, infrastructure to operate. On the other hand, consumers require wages, employment, innovation, and investment to thrive in the 21st century.

An ethical business abides by safety and health standards, refrains from employing child labor, refrains from employing sweatshop workers and violating workers’ rights. Moreover, an ethical business cares for the well-being of its employees – ensures that each worker is paid fair and reasonable wages, along with safe working conditions, sustainable sourcing, responsible marketing, supporting social causes and more.

Furthermore, ethical businesses should uphold corporate social responsibility by reducing and preventing morally reprehensible practices which are a danger to society. This includes bribery, corporate fraud, dummy corporations and more.

Often, businesses that refrain from following ethical practices face serious consequences. Discovery of unethical business practices can lead to loss of trust between businesses and consumers, loss of reputation, employees losing their jobs and much more.

Wells Fargo is a great example of a business that committed unethical practice and faced serious consequences for their actions. Ranked the 7th largest public company in 2013 and serving over 70 million customers worldwide, Wells Fargo was well known all over the world.

Their reputation took a turn for the worst, however, when bank fraud investigators made a shocking discovery. In September 2016, it was discovered that since 2011 Wells Fargo employees covertly and fraudulently opened bank accounts without customers’ authorization.

As a result, millions of people were affected. Five thousand three hundred Wells Fargo employees were laid off. Wells Fargo’s reputation was destroyed and the company charged with over 185 million dollars in fines.

In conclusion, acknowledging and practicing ethical business behavior and corporate social responsibility is essential for a business to operate.

Word Count: 393 words

Citations:

Brown, P. (2017, August 31). Wells Fargo Fake Accounts Scandal: Why It Might Not Survive | Fortune.com. Retrieved from http://fortune.com/2017/08/31/wells-fargo-fake-accounts-scandal-2017-tim-sloan/

business ethics [business header]. (2017, September 13). Retrieved from http://www.brainkart.com/media/subject/120.jpg

Wells Fargo CEO sees progress on expenses in second half. (2017, September 12). Retrieved from https://www.cnbc.com/2017/09/12/wells-fargo-ceo-sees-progress-on-expenses-in-second-half.html

How low can wells go. (2016, September 24). Retrieved from http://crooksandliars.com/files/images/13/08/6924809997_87960114eb.jpg

The bank that works. (2016, September 26). Retrieved from https://b-i.forbesimg.com/lewisdvorkin/files/2013/08/08CQ6lefyobqf_9829.jpg