Carla Santos

A company isn’t just all about their well-known products, a big part of it comes greatly from its employees and customer service. As said in the article, [the company’s] marketing efforts are supported by customer word-of-mouth and positive comments on review sites and social media channels. In fact, I, myself, check out some customer reviews for the products and services a company has to offer before purchasing anything from the company.

Great customer service comes all the way from the company’s employees. As we discussed in class, happy employees, happy customers = happy company. While some companies focus more on profit-making while not even considering customer satisfaction, some give priority to enhancing customer service. For this reason, companies train its employees well and make sure the work place is suitable for a comfortable working environment. Furthermore, when employees feel good about their work standards and environment, they also do their jobs more efficiently. We all saw the video about zappos which showed a great deal of both employee and customer satisfaction. Both of these entail a good working environment and a great company reputation.

(Here is another video exemplifying highly satisfied Zappos employees: Life at Zappos)

Link to news article: People are your biggest asset. Treat them like it

The largest operators in the shipping industry are slowly making their way to the sustainability district. They are endorsing a Sustainable Shipping Initiative (SSI) to reduce carbon emissions in the near future. “Steps to pioneer energy-efficient vessels, make greater of use renewable energy, and design ships that can be reused or recycled are all today included in a new roadmap designed to achieve a “step-change” in the industry’s carbon intensity through to 2040.” This is definitely appealing since as we discussed during our sustainability lecture, most carbon emissions come from transport. Sure enough, ships have huge carbon emissions from a single trip.

The step-change is absolutely a good idea to pursue. Although, this would only be as successful as the industry’s firms make it. Since new technology and further advancements will be added to the new ships, firms that are trying to lower down their costs might not be willing to comply with the initiative. Momentarily, the participating firms are step-by-step figuring out how to put all the pieces together and how to build up the environmental impact of this new project. Taking this opportunity to plan ahead would definitely better the chances of making the SSI very successful.

Link to news article: World’s Largest Shippers Commit to Sustainability Initiatives (10/31/2011)

Google, one of the largest search engines, tries to close the gap between one of its newest ventures, Google+ and its largest competitor, Facebook. Facebook has been around for more than 7 years now and has undoubtedly reigned supreme over its competitors. Moreover, Google+ made its way to the market early this year, starting off as a “private” social networking site in which the only way to get an account is receiving an invite. This brought an excitement to social networking addicts but eventually, the excitement decreased due to some kinks, bringing back the attention to Facebook. Now, Google is working out further additions to Google+ to make it more attractive and appealing to users.

I was, in fact, one of those who got excited to join the new social networking site when it was released. Not that I’m an avid social networker, it’s just that I was getting tired of Facebook and its limitless additions to the simple database. However, I did not use Google+ as much as I still used Facebook. Primarily because only a few of my friends were in Google+ since they thought it didn’t offer much for enjoyment. With the improvements Google is putting into their social networking site, I hope it catches much of the attention of consumers because in my opinion, Facebook is becoming too mainstream and complicated.

Link to news article: ‘Major improvements’ coming to Google+   (10/20/11)

The passing away of late Apple CEO, Steve Jobs, doesn’t put issues regarding him and his way of reinforcing power to a halt. Mike Daisey (former apple die-hard fan) finds his trip to China a compelling and life-changing experience. What welcomed him were Apple’s horrific labor conditions, impossibly long hours and the use of crippling, repetitive motions. The apple products that seemed to be machine-made were actually products of back-breaking labor.

It’s kind of appalling how a respected company treats its workers more than just poorly. No one deserves to actually be in such a hellish type of labor. It’s an eye-opener for me, witnessing once a die-hard fan fully turn its back away from Apple products. Although some would ignore the current issue involving Apple, I somehow agree to Mike Daisey’s insights. I, myself, own at least one (1) apple product and I admit I love it. However, after receiving this news, it kind of saddens me how naïve I was, just going with the trend. The products are truly amazing but we also have to look beyond that; who really are responsible for these amazing products. Many already treat Steve Jobs as a hero, but is he really?

Link to news article: Mike Daisey goes after Apple, the late Steve Jobs (10/13/11)

Scotiabank decides to expand its shares all the way in South America. The bank of Novia Scotia buys Colombia’s no. 5 bank, Banco Colpatria. With the apparent rise in the Colombian economy, scotiabank eyes an opportunity to take a step forward and take 51 per cent stake in the bank.

Many have been wondering what triggered the bank of Nova Scotia to buy stakes in just the no. 5 bank in Colombia. This long-term strategy isn’t as bad as most investors think. With the rising Colombian economy, the risk that Scotiabank took may entail a huge benefit. Firstly, it exposes Scotiabank to the citizens of Columbia. Since a lot of Colombians are moving to Canada, this is most likely the first bank they would trust their money with. Furthermore, in the span of a few years, Scotiabank may gain the opportunity to buy the remaining shares of the banks from its respective owner. The stakes are high but it can generate returns in a relatively short amount of time.

On another note, with respect to the recent news about Scotiabank taking a Chinese bank stake, it seems that the bank is slowly paving its way not just in America but also in other countries around the globe.

Link to news article: Scotiabank buys Banco Colpatria (10/20/11)

Razor Suleman, founder and Chief Executive Officer of formerly known incentive marketing company, I Love Rewards, shifted paths and changed its name to Achievers Inc., after having grown rapidly and expanded to the United States. As for the reason why, according to him, the brand recognition of the company in the U.S. wasn’t as strong as it was in Canada. Furthermore, it seemed that the company goals didn’t reflect the name of the company anymore.

This strategic move by Suleman had a lot of processing done before the company’s name was actually changed to Achievers Inc. It wasn’t completed in just a snap-of-a-finger since external factors also had to be changed. However, I personally think the change was a great idea despite its complicated undertaking. If the brand recognition is not tough enough to pull customers, it might be an inhibition the company’s growth. By changing the company’s name, they were able to somehow revitalize the company’s image and appeal to the customers. A series of rejuvenating process or simply rebirth, if you will, may be the solution to the company’s issue about brand recognition. Good strategic planning and tactical skills were the roots of the solution to the issue.

Link to article: Why would a company change its name? (10/07/2011)

“It was the wrong format, at the wrong time, in the wrong market,” said Robert Gregory, research director at Planet Retail.

This statement basically sums up the problems Best Buy Co. had to encounter with its megastores in the British colony. The U.S. retailer might have to close its 11 British megastores mostly due to the global recession and differences in culture. As most are aware of, Best Buy is known for setting up huge stores with a wide variety of products, mostly technology-related. With this, the problem arises. The Europeans aren’t used to shopping in big boxes, as they prefer to shop bit by bit in this category.

A huge loss can be experienced by the company, if they decide to bring the British megastores to closure. However, a greater loss will emerge if they continue to run the stores. One effort the U.S. retailer can do momentarily is focus on the sectors that are highly demanded by the European consumers. Those of which that are not really noticed can be put aside. The company shouldn’t have tried to bring the Americanized style of shopping to a continent which has almost the exact opposite style of shopping in such stores.

Link to article: Best Buy may pull plug on UK megastores (09/09/11)

Troubled by the huge debt Greece is facing now, some of the top banks have yet to make a big decision – nationalize the bank or lose it completely. With the current crisis Greece is facing, it would be utterly hard for banks to grab a strong hold of its shares and depositors. Furthermore, they would also find a hard time getting loans. Critically speaking: who would want to invest in a bank which is almost at its downfall? In addition to that, who would also want to lend money to a bank which isn’t capable of paying its previous debts?

It’s quite saddening actually, how this highly cultured country came to its present unfortunate situation. Poor management strategies may be one of the reasons of the country’s crisis. Nationalizing the banks, given that it would be enough to recapitalize the Greek banking system, is a great risk for the banking companies. It can be a possible step ahead to the revitalization of the Greek economy but it can also weaken the system even more. But who knows? This could make or break it, but really, for the time being, what’s important is to manage the banks well and avoid the causes of the current mishaps, for survival, at least.

Link to news article: Greek banks face nationalization if haircut too severe (09/30/11)

Canadian radio-television and telecommunications (CRTC) announces a new ruling that any program broadcast television must be available to cable, satellite and wireless competitors under fair and reasonable terms. This gives consumers an option as to which channels they want to subscribe on. From a variety of channels shown on television, subscribers usually focus on just a few – those of which are essential to their lives such as channels showing weather, sports, entertainment, etc. As anyone would notice, a lot of channels offered are not even or for the most of it, rarely viewed by cable subscribes; these channels seem like fillings provided just to evade holes between popular channels.

This ruling would be a great deal for viewers. They wouldn’t have to pay a lot of money for cable television, which includes channels they wouldn’t even probably watch. With this ruling, consumers would just have to pay for the channels they normally subscribe on. Furthermore, with the advancements in technology have, it would be more than convenient for consumers to watch their favorite shows using their mobile phones or tablets especially those who are always on-the-go and working long night shifts.

Link to news article: Consumers can expect more choice when watching TV shows across multiple screens (09/22/11)

Air Canada’s move to imitate other U.S. carriers and start charging $25 for the 1^st checked bag for U.S.-bound flights might be one of the wisest and yet at the same time, dumbest decisions they could possibly make. Sure, more charges mean more money, but what they’re trying to do here is preposterous. Basically, from a consumer’s point of view, what Canada’s largest carrier’s trying to do is acquire more money from their loyal customers without even considering consumer rights; making this an ethical issue of how Air Canada primarily thinks of just earning more money and tends to forget about Corporate Social Responsibility (CSR). Although having to succeed in acquiring fees from passengers for in-flight comfort (charging $3 for a pillow and a blanket plus an additional $3 for a set of earphones), I don’t think they would succeed in making their loyal customers fall for another one of their “wise” traps.

In addition to Air Canada’s current identity crisis, the present issue might lead to the company’s severe downfall as it definitely adds to the company’s bad image. Passengers would most likely switch to other carriers which offer lower prices for U.S.-bound flights, and more importantly, don’t charge for the 1^st checked bag. Another possible move U.S.-bound passengers could make, especially those in the southern tip of Canada, is to cross the U.S. border and purchase tickets from U.S. carriers since U.S. domestic flights are relatively cheaper than Canada to U.S. flights. With their current situation, what Air Canada should be doing now is bringing satisfaction to the passengers rather than robbing them of their life savings.

Link to news article: Air Canada adding baggage fees to U.S.-bound flights (09/02/11)