Is there really a need for the Arc and social enterprise if United Nations is being full funded? In my opinion, the answer is yes. One of the United Nations’s goals is to develop and increase living standards and human rights in developing countries. However, even United Nations’s resources are limited. They cannot provide education for everyone, which is where the Arc Initiative and other social enterprises step in.

The Arc Initiative consists of alumni, students, and faculty members within the Sauder School of Business and other faculties in UBC. They provide workshops that work to develop business management and leadership skills in aspiring entrepreneurs, which they believe will increase the economic well-being. A number of people, including Salem Kassahun and Fitih Tesfaye were able to effectively apply the skills learned in workshops provided by the Arc Initiative, thus increasing their own standards of living.

The United Nations is in fact, a very powerful organization but it is only able to provide resources at sporadic times. With the Arc and social enterprises providing education, developing countries will be able to gain more knowledge to create businesses that can enrich the living standards in their countries.

Sources: Arc Initiative, UN, Article #1, Article #2, Image #1, Image #2

A woman having her eyebrows thinned, the method of shaping eyebrows that Mehroke uses in her stores.

Ravy Mehroke opened a retail business in Yaletown, Bombay Brow Bar, which offered a single service: shaping eyebrows. Many thought this business idea was risky and that it would possibly fail but that was not the case. Within three years, she opened an additional store on West Fourth Avenue and another in the Shangri-La Hotel.

Mehroke had done everything an entrepreneur needed to do: conduct extensive market research to ensure her business plan would work, taken classes, and sought a successful mentor who had opened a similar business as her. Although her business model was thoroughly thought out, the price she charged her customers was $23, and has increased it to $24. Mehroke mainly targets professionals living or working in the downtown area but this may turn other potential customers away from her store.

Ravy Mehroke, owner of Bombay Brow Bar.

And where did she get her initial price of $23 from? She supports her initial price point by referring to the brow bar she had seen in London. Did she decide her price based on the brow bar in London? Suppose that was how she decided on the price. If so, she is making an inaccurate assumption. People in Vancouver have different tastes, preferences and needs compared to those living in London.

Currently Mehroke has successfully opened two additional stores around Vancouver. Her business model has been thought out thoroughly. However, I would love to learn how she decided on her pricing and why her price had only increased by a dollar, and not more.

The interior of Bombay Brow Bar.

Sources: Article, Image #1, Image #2, Image #3, Image #4

While scrolling through a number of blogs in my section, I stumbled upon Shelby So’s blog and discovered a business blog she had linked to one of her posts. It piqued my interest and as I navigated through the blog, I found a useful blog post that may help all of us.

The author thoroughly explains the causes, tests, and solutions to combating bad breath in this post. What drew my attention even more towards it were the sections, “Smile assumptions” and “Smile feelings”. I agree that practicing the perfect smile is necessary. Let’s face it: everyone makes judgments based on appearances. Our smile enhances our image and helps us build our personal brand. Having a nice and white smile presents a positive image to a potential employer and to peers. In addition, it also boosts our mood, helps us fight stress and feel happy.

The post also mentioned “Fake it till you make it” and a few weeks ago, my leader of the First Year Accelerator Cohorts showed us a TEDTalks video on “Fake it till you make it”. It’s intriguing to see it reappear on another business blog and to see that many are trying to get the same general message across to their audience: smiling will help people make it through their own circumstances and situations.

Key Take Away: Have good breath, great teeth and a perfect smile! It helps build people’s personal brand and image, which is especially useful when coming in contact with potential employers. Doing this also boosts self-confidence and places people’s moods in a higher and better position.

Sources: Student’s Blog, Business Blog, Image #1, Image #2

When the reality show, “Ultra Rich Asian Girls” was announced to be broadcast, I was ecstatic. I was interested to see how the girls would be portrayed and how they would act. But the next thing that came to mind was, “How is the producer earning profit? What is his goal of producing this reality show?”

Producer of reality show, Kevin Li, claims that he wants to share the demographic of Chinese immigrants and for others to understand where their wealth originates. Since he releases all episodes online, how is he making any profit? From where does he obtain his funding for all the equipment used to produce an episode? His target audience is the people from Mainland China but he is also garnering much attention from the general public, which may not be something he wants. Many have criticized the show, commenting on the absurdity of the idea. Why would people want to watch rich girls flaunting their money in our faces or gossiping about plastic surgery?

The producer may be generating profit from various sponsorship. However, I’m a little wary about that since the show did not begin with a positive image. Companies that sponsor the show may not want their products to be associated with these girls (I have not yet watched the show, therefore I cannot accurately define the girls’ attitudes) because of their attitudes or image on television.  Personally, I do believe people will continue watching the series to see what else these girls have to offer and to catch a glimpse of the “rich Asian life”, but I don’t think the image of the show will change any time soon unless the producer changes the direction of the show completely.

Fazioli pianos already cost a few hundred thousand dollars, but one of the girls would like a better one.

Sources: Article, Image #1, Image #2, Image #3

In response to Heidi Leung’s post, I agree that part-time jobs can be quite unfair as employee benefits are not given and they may not work for the same duration every shift. However, there is a reason why employers do not give part-time workers full benefits and longer shifts. Why would they invest their money in someone who, in the long run, may no longer be working with them? The length of time a part-time employee would like to work varies from person to person. Generally speaking, longer hours may provide an incentive to workers. Last class, we discussed Zappos and how the employer motivates employees with benefits to work hard for the company. I do not expect employers to follow suit and spend a large sum of money on employee benefits, for both part-time and full-time workers. However, providing more hours, or even more shifts during a week may serve as an incentive to part-time employees and unlock their full potential with the task on hand.

It would be difficult to set a certain number of hours a part-time worker must meet per week. Although this guarantees a stable income for the employee, it also takes away the flexibility of schedules for them. If a part-time employee must work 15 hours a week, they must allocate their time to accommodate this requirement. What if they can only work two days in a week and for four hours each shift?

I do agree with Heidi that this would be optimal but in reality, the number of hours to be worked weekly would be difficult to achieve.

Sources: Blog Post, Image #1, Image #2

In Jonathan Lim’s post, he touches on the relationship of prices and quality and I agree with most of the points he has stated. However, Jonathan had not considered the other side of the coin – why do consumers choose to purchase cheaper goods even if they are financially stable?

A vast majority of consumers do so in order to save a few bucks. The less they spend on one product, the more they can spend on another bigger purchase – there is an opportunity cost. Why should a consumer spend more money on a product that serves the same purpose as another? Many consumers purchase the more expensive product due to the product’s “high quality” and the influence of its brand name. As Jonathan pointed out, this is a huge mistake. The quality of a product should not be defined by its price.

No, really – what’s the difference between these two? They’re practically the same bloody thing!

Personally, I tend to purchase cheaper products. With a stable income (of monthly allowance), I try not to go over the top with spending. I tend to stay away from expensive name brands because most of the time, I cannot conjure an adequate response to a few questions I’ve thought of:

1. How will the product with a higher brand value than the next one on the shelf differ? Is there a difference?
2. Other than its brand value, is this purchase worth it?
3. Do I really need such a high-valued item?

I can assure you, I am not the only one with this mindset. Many of my friends choose not to purchase the more expensive product, even if they are aware of the production costs – it is simply too expensive for our wallets. Quality should not be defined by the low or high prices, but rather the materials used for the production of the good.

Source: Images (1) (2) (3) (4)