We all know of Google in various ways, some as a last minute homework aid, others as a form of entertainment as the design switches from season to season.   Either way, Google has become an internationally known booming company that has provided platforms to many starting companies and businesses.  However, what is it that makes a company such as Google so successful?

Organizational culture.  Believe it or not, but even within a room full of computers and technicalities, there lies a strong culture.  At Google, the skill of an individual is valued higher than past experience.  Despite having the same goals for the company, each employee comes from diverse backgrounds, resulting in greater creativity.  Executives of Google ensure that employees feel comfortable in directly speaking to higher rankings and are accessible when approaching with a new innovation.

From past experience, the work environment and culture does play a large role in job satisfaction and ultimately the effectiveness of the company.  Being unhappy and intimidated within a workforce will promote reluctance to achieve goals and ultimately harm the company due to its inefficiency.  Maintaining a strong culture and employees who whole-heartedly believe in the company’s values will definitely lead to success!

http://www.seomofo.com/downloads/new-google-logo-knockoff.png

Source: http://www.google.ca/about/company/facts/culture/

Many adolescents may be familiar with the recently popular site called “Tumblr” that allows users to create a blog, reposting what ever they desire.  Assuming that Tumblr is for recreational purposes only, many may not be familiar with a particular blog created called “The Economist”.   It’s interesting how a company solely dedicated to economical views and statistics is able to yet again find themselves advertising through social media, as expected by the increasing demand for this approach.

Granted, this blog only provides a snapshot of the covers and highlights of their weekly newspaper.  However, from a marketing point of view, it will only increase customers as it will attract consumers and cause them to subscribe and purchase their actual products.  Also as shown on the site, The Economists provides a comedic side of a subject that many regard as being uninteresting and dull which in turn again attracts customers.

This site is very convenient and useful because consumers are able to pre-determine whether they would like to purchase the current week’s edition simply by surfing online and checking if the magazine is of any interest solely by the cover.

Check it out!

http://thebreakthrough.org/blog/economist-logo.gif

The Abercrombie and Fitch controversy as discussed in Clement’s blog has become one that focuses largely on societal views.  As female insecurity has become a rising issue within our society, it raises concerns about whether we are exposing pre-teens and young adults into a world where there is a “right way” to look.

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However, applying business concepts to this, Abercrombie and Fitch can simply defend themselves due to the freedom to target any specific or broad market segment.  Should this be allowed? When will there be a fine line between unethical practices and economic profit.  How much can “revenues” actually mask the damage causing to society, or is the damage of little importance to businesses.  Being a qualitative measurement, social cost cannot be accurately measured to weigh out whether benefits or costs are more prominent.

Greg Karber, I believe, is brave for his actions against Abercrombie and Fitch’s policy.  Despite his intentions, the manner in which he carried out his actions was respectable and principled.  Aside from bringing attention to this matter, providing the homeless with A&F clothing does not seem damaging to the company in any significant way due to the increasing business channel and revenue stream.

One would never assume that something so insignificant such as the location would actually be one of the main factors of success for a company.  At least, it never occurred to me that it would.  However, after reading Taylor’s blog post about Aritzia’s tactical location, it becomes obvious that it is in fact essential.

Reflecting on my hometown, most successful running businesses are located in the heart of downtown, among popular shopping strips, or within large malls.  All of which are located on busy avenues, considered “good neighborhoods”.  Conversely, there have been neighborhood businesses opened on smaller side streets that have re-opened about 5 times in the past few years.  It is safe to assume that the side street location has not exactly been benefiting the aspiring companies. Once again, proving that location is a key element in the longevity of a business.

Strategically deduced by Aritizia, they were able to cater towards two different markets, gaining a larger consumer base compared to a business located solely in the “Upper Fifth” or “Lower Fifth”.  Without sacrificing “high fashion” clients to “fast fashion” customers, Aritizia was able to maintain the loyalty of both while increasing total revenue simply by relocating.

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Reading about this Michael Hallat’s new vision on Danielle’s blog is motivating as Hallat is the prime example of pure determination and drive.  Similar to Danielle, I admire Hallat’s priority to base his new business on what the society lacks rather than being another comparable business within a large market.

Despite facing many different obstacles with his past business “Trader Joe’s”, Hallat persevered and even decided to set up yet another business similar to Trader Joe’s concept but under a different market.  It is commendable of how Hallat did not give up or demotivate himself as many would initially react, but rather focused on the future and was determined to win his case.  It demonstrates a true businessman mindset, as one of the key traits of being a successful businessman is having a strong willpower.  Without focus on a goal, a business will never succeed or become recognized.  Michael Hallat’s new companies illustrate precisely how being passionate overrides many technical aspects of business in the long run.  Aspiring companies should never discourage themselves, but rather set a goal and focus on achieving it.  The only way others will believe in your company, is if you believe it in it yourself.

http://blogs-images.forbes.com/glennllopis/files/2011/09/TraderJoes440.jpg

Twitter dove into the New York Stock Exchange with an initial public offering (IPO) of $26 per share.  It wasn’t long before shares skyrocketed to mid 40’s by the end of the day.  Through the law of demand, the high demand for Twitter stocks and low supply increased prices.

However, some have opposing opinions about Twitter’s new activity.  Some people disagree for the sole reason that it is much too expensive.  The main concern for buying Twitter’s stocks is the stability presented.   This challenges the idea of whether or not investing in Twitter would be a wise decision despite their global status earning more value than most wide-scale firms such as Yahoo and Tim Horton’s.

http://scm-l3.technorati.com/13/02/19/75101/Twitter.png?t=20130219104123

This sparks curiosity about the decision as to why Twitter finally decided to become a public company to sell stocks and whether the decision was an economically smart choice.  Due to the recent increase in social media popularity, investing in Twitter will be beneficial to both parties, as their economic value will only continue to increase.  Social media has become a large part of our culture that only appears to be growing; therefore stocks in Twitter would potentially be more beneficial before decreasing in value.

Source:

http://www.cbc.ca/news/business/twitter-shares-spike-to-near-50-after-ipo-1.2418110

When approaching the business market with an emerging company or product, incorporating a new market strategy is beneficial. An example of this is the new concept of “feeling good”, appealing to Corporate Social Responsibility . The idea of companies profiting while achieving honourable status has began trending internationally. Companies have begun focusing on promoting themselves as a principled company that cares for societal issues. However, companies are hesitant to sacrifice profits for social responsibility. Reluctant to change, companies fear the improper balance between value and sales, viewing them as replacements instead of as a cohesive attribute.

http://www.ohsu.edu/xd/about/dchf/fundraising/nike-freestyle/

There have been many successful cases of companies advocating social responsibility. Such companies include TOMS and the Nike Doernbecher Freestyle Collection that has been ongoing for 9 years. This collection includes runners where previous hospital patients design their own shoes in which funds will be donated to the hospital.

However, this makes one wonder whether it is truly just to present a “feel good” approach to customers while prioritizing revenue.  Rather, is it ethical, to cover profiting intensions behind the mask of being societally virtuous.  Personally, I find it ironic and deceiving how companies practice “principled” approaches to business but with an unprincipled objective.

Source:

When attempting to obtain a job, do specific attributes create a competitive advantage over others?

Recent studies prove that appearance plays a strong role in one’s career. Statistics show that predominately in men, every additional inch in height results in a 2.5% raise in income. It is easier for taller individuals to command respect and leadership than a shorter party. Therefore, if all other things being equal, promotions and higher paying jobs will readily be presented to taller. In the past, height was likely associated with power thus many regarded taller individuals as more capable of protecting which has carried out to modern-day societal views.

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However, is it ethical to pick an individual in accordance to their appearance? In some respect, due to its universal acceptance, it is noted as a subconscious course of action. However this appears to play a large aspect of society and in my opinion should be changed to balance the power in our culture.  If one individual was to have higher qualifications for the job, it is only fair and essentially moral to offer that individual the job.  If this appearance-first concept continues, it appears that society is only becoming more conceited.

Source:

http://articles.economictimes.indiatimes.com/2011-09-30/news/30229082_1_ceos-necktie-salaries

Established in 2011, Ross Ulbricht developed an underground business named “SilkRoad” where buyers and sellers of illegal drugs could make anonymous transactions.  Applying a program called “Tor” originally created for the U.S. Navy to keep messages undisclosed, SilkRoad allowed customers to buy off other users in which the affairs would be untraceable. Here’s the catch. Transactions were paid in the currency of “Bitcoins” (retail value of $130 and was growing due to high market demand).  How Ulbricht kept his business running was due to the fact that he made 10% commission from transactions and when threatened to expose this business, he would simply pay thousands of dollars for hitmen to execute the opposing threat.

This brings us to question whether government mediation will effectively stop activity or encourage the development of an underground business, similar to the 1920 alcohol prohibition.  Rather than decreasing illegal activity, has restrictions only caused a prohibited business to sky rocket into success?  As shown in the past, occasionally restrictions only cause businesses to succeed through underground means such as the black market, which appears to still exist today.  So how exactly should the government intervene appropriately so that both parties benefit?

http://www.viceland.com/viceblog/500866Bitcoin_Silkroad4.jpg

Source:

http://topinfopost.com/2013/10/03/fbi-arrests-29-year-old-mastermind-of-billion-dollar-internet-drug-blackmarket

Business ethics is simply a set of moral principles that take place in a business environment.

In 1982, there was a massive recall of Tylenol due to tampering of the products raising safety concerns. Tylenol followed through with its promise to make products more resistant to tampering and therefore was able to maintain its strong reputation. As the company always had a reputation for being ethical, the consumers had faith that the company fulfilled its promise to make its product safe and tamper-proof and continued to purchase its products.

In my perspective, it is very important for businesses to carry out ethical practices for various reasons, primarily to keep a strong reputation of the company resulting in future success. Business ethics should be portrayed throughout the workplace especially among the managers so that clientele and employees are able to trust the company. It is important for the management of the company to maintain good rapport with its employees by being ethical in its behaviour; for example by ensuring that any over time work is paid for. Likewise, maintaining a good rapport with its customers through proper ethical behaviour will guarantee loyal customers throughout times of hardships within the company.

1982 Tylenol Recall
http://tylerannrose.blogspot.ca/2012/10/using-listening-to-move-your-brand.html

Source: Media, Demand. “Advantages & Disadvantages of Business Ethics | Chron.com.” Small Business – Chron.com. Web. 12 Sept. 2013. http://smallbusiness.chron.com/advantages-disadvantages-business-ethics-10414.html>.