Recently I read my COMM 101 classmate, Karen Leung’s blog on entrepreneurship.  She mentioned that because there are so many social responsibilities that go with entrepreneurship, it is perhaps not cool to be one.  In fact, in my COMM 101 class, many people chose the option of working for big companies after graduation.  It is not a surprise to me as I also clicked that answer myself.  In my opinion, being an entrepreneur is not a easy task as it involves big decision making, strong leadership, and enriching background experiences.  I would love to take the challenge to be one, but I would like to build a strong foundation and gain some experiences first through working for big corporations.  By doing so, I will be able to grow as a businesswoman and establish the network required to start my own business.  Therefore, I believe I will be an entrepreneur, but maybe just not now.

(Photo credit: BusinessGross)

Resources:

Leung, Karen. “Karen Leung’s Blog.” WordPress. N.p., n.d. Web. 17 Nov. 2013. <https://blogs.ubc.ca/karenleung/>.

“A Definition of Entrepreneurship and the Entrepreneur.” QuickMBA. N.p., n.d. Web. 17 Nov. 2013. <http://www.quickmba.com/entre/definition/>.

I have been playing Candy Crush Saga on my iPhone since high school.  Although I am not playing as often now, I could still remember the addiction I had toward this game.  There were times that I dreamt of myself playing Candy Crush!  Today, I finally solved the mystery of why I was so into the game by encountering an article on Times called “Candy Crush Saga: The Science Behind Our Addiction.”  In the article, there are nine reasons of why people are so addicted to the game:

1. It makes people wait
2. People fall for sweet words
3. It allows people to play with one hand
4. There’s always more levels
5. It is free, yet easy to pay for
6. It taps into people’s inner child
7. It is an escape
8. It is social
9. It grows into people’s mind

All of the factors above are related to the psychology of the consumer, but if we look from the marketing perspective, this game is literally “getting into the mind of the consumer.” (Product Positioning)  It has wisely used people’s psychological characteristics to attract customers.  Although the game itself is free, the revenue it generates from selling the add ups is around $875,382 per day.  This number shows that this game is a success as a business.

(Photo credit: TIME illustration / Hands: Getty Images)

Resources:

Dockterman, Eliana. “Candy Crush Saga: The Science Behind Our Addiction.”Times. N.p., 15 Nov. 2013. Web. 15 Nov. 2013. <http://business.time.com/2013/11/15/candy-crush-saga-the-science-behind-our-addiction/?iid=biz-main-belt>.

“Product Positioning.” QuickMBA. N.p., n.d. Web. 16 Nov. 2013. <http://www.quickmba.com/marketing/ries-trout/positioning/>.

After taking class on “People, Culture, and Teams” and learning about Zappos‘ happy organizational culture, I encountered a blog talking about things to consider when sitting up an online shop.

The blog gave some helpful advises on starting an online shop, such as creating a business plan with realistic, measurable goals, making sure the website is accessible, making payment simple, and etc.  This would be an example of creating a management information system (MIS) that provides information to be used to make decisions.

I learnt that in business, we need to think outside the boxes in various perspectives.  Zappos is a perfect example to demonstrate a strong corporate culture, but this is merely one factor that contributes to its success.  It must also have a strong technical team, marketing team, human resources team, customer service team, and many other teams that work well with each other aiming for the same goal.  After all, every part in the business is interconnected.

(Photo credit: American Live Wire)

Resources:

Jacobs, Alexandra. “Happy Feet.” The New Yorker. N.p., 14 Sept. 2009. Web. 12 Nov. 2013. <http://www.newyorker.com/reporting/2009/09/14/090914fa_fact_jacobs>.

Belonwu, Valentine. “Things to Consider When Setting up an Online Shop.” Business Gross. N.p., 26 Oct. 2013. Web. 12 Nov. 2013. <http://businessgross.com/2013/10/26/things-consider-setting-online-shop/>.

Barona, Nicolas Ayerbe. “Carson Woo — Management Information Systems and Business Technology Management.” Vimeo. N.p., n.d. Web. 12 Nov. 2013. <http://vimeo.com/77587262>.

In today’s COMM 101 class, we discussed about what motivates employees and touched on the differences between extrinsic and intrinsic motivators.  The article “Job satisfaction beats bonuses in staff motivation stakes” shows how intrinsic motivator beats extrinsic motivators.  According to study, the emotional factors are the strongest motivators in the workplace.  In a survey answered by over 1,000 workers, 59% of the population put job enjoyment as their top motivator.

I agree with the fact that intrinsic motivators are what really satisfy the workers.  I think the pay rate, bonuses, and physical rewards of the job fulfills the basic needs of the employee.  It will not make the employees unhappy as they no longer need to worry about life essentials.  However, what truly make them happy are the emotional motivators.  This could be how well they get along with their colleagues, how well are they treated by their employers, and how much freedom and enjoyment they receive from their work.   A successful employer would be able to identify what type of emotional motivators each employee needs and act accordingly.  Once a team full of happy and satisfied employees are formed in a company, the productivity will increase dramatically, and thus will generate unimaginable profits for the company.  Therefore, employers should motivate their employees intrinsically with the correct emotional motivator.

(Photo credit: UltimosLibros)

Resource:

Churchard, Claire. “Job satisfaction beats bonuses in staff motivation stakes – People Management Magazine Online.”CIPD. N.p., 21 Oct. 2013. Web. 7 Nov. 2013. <http://www.cipd.co.uk/pm/peoplemanagement/b/weblog/archive/2013/10/21/job-satisfaction-beats-bonuses-in-staff-motivation-stakes.aspx>.

In Candace Coker’s blog “Social Entrepreneurship: A New Perspective on Business!“, she believes that business is really about impact and social entrepreneurship has successfully captured this aspect.  I agree with her thought and I think that nowadays, more entrepreneurs need to raise their awareness in making more contributions and changing the society in a positive way through their businesses.  I think making a profit and bringing positive impacts to the society does not contradict each other.

For example, TOMS Shoes is a for-profit company that donates a pair of shoes to a child in need for every pair sold.  This donation may decrease the profit the company earns, but it enhanced its corporate image, and more importantly, it helped to solve poverty problems.

On the contrary, some entrepreneurs would try to make profits using very dirty methods.  In China, some restaurant owners would use gutter oil that is recycled from garbage or sewage to cook food for their customers.  These oil are often bought from the black market at a very cheap price.  Although it will generate a bit more profit for the business owners by cutting back the cost, it will harm thousands and millions of people’s health.

Entrepreneurs are gifted people who are innovative, confident, and brave.  Blessed with such gifts, why can’t people just put them into good use and improve our society?

(Photo credit: Kwaku Alston/Courtesy Company; AFP / Getty Images)

Resources:

Coker, Candace. “Social Entrepreneurship: A New Perspective On Business!.” Candace Coker Blog. N.p., 4 Nov. 2013. Web. 6 Nov. 2013. <https://blogs.ubc.ca/candacecoker/2013/11/04/44/>.

“America’s Most Promising Social Entrepreneurs.” BusinessWeek. Bloomberg, n.d. Web. 6 Nov. 2013. <http://images.businessweek.com/ss/09/04/0403_social_entrepreneurs/26.htm>.

Song, Sophie. “China’s Gutter Oil Scandal: 1/10 Of China’s Cooking Oil May Be Recycled From Garbage.”International Business Times. N.p., 31 Oct. 2013. Web. 6 Nov. 2013. <http://www.ibtimes.com/chinas-gutter-oil-scandal-110-chinas-cooking-oil-may-be-recycled-garbage-1448384>.