Chloe Liang's Comm 101 Section 101 Blog

Here’s my comment for Jaskaran Chauhan’s blog post “Ethics: Should We Share?” In my response, I opposed his proposal of income redistribution in order to protect society by stating that such an act will only promote idleness and hinder innovation. Moreover, dominant individual self-interest is the reason why socialism does not, and will not ever work.

Picture source: http://lovelightness.files.wordpress.com/2011/02/money_tree.jpg

Here’s my response to Lisa Wu’s blog post on the Greek sovereign debt crisis, “Greece: Bad Politics or Bad Citizens?“

Like Lisa mentioned, the debt crisis in Greece cannot be entirely blamed on the government as there are more Greeks driving luxury cars than those who actually declare their income above the poverty line and pay taxes to the government. In order to resolve the crisis, citizens and the government must come to an understanding and work together to save the nation rather than solely focusing on their self-interest.

Picture source: http://www.overseaspropertymall.com/wp-content/uploads/2008/07/naxos-greece.jpg

With the abundance of cosmetic companies today, only one proved to stand the test of time. A known name to many, Estee Lauder revolutionized the cosmetics industry. The $20 billion company today began in the modest New York home of Joseph and Estee Lauder in 1946. Armed with four skincare products and unshakeable persistence and passion Estee was able to fill an empty niche by consistently producing affordable luxuries that every woman wants. Estee was a risk taker who refused to settle for anything less than the very best. She believed that every woman can be beautiful. The successes of the company are attributed to the recognition of a strong brand image. Estee was a woman of sophistication, the model of the brand while also being a compassionate risk taker. The company never stopped to broaden its product line. Estee understood that she was selling more than just cosmetics, she was selling confidence. By talking to clients and retailers and truly listening, she transformed the way beauty products will be marketed by being the first to generously giving out in store trials, samples and gifts with purchases, a tactic that remains essential to the sales of the beauty industry today.

You can read more about the company from Wikipedia and the company website.

Picture sources: http://img2.timeinc.net/people/i/2007/stylewatch/blog/070604/este_lauder_400x300.jpg

http://www.style.com/slideshows/standalone/beauty/icon/051204ICON/06f.jpg

Works cited:
http://www.entrepreneur.com/article/197658
http://www.google.com/finance?q=NYSE:EL

Many businesses fail to provide products and services to satisfy consumer needs and this phenomenon was thoroughly exemplified in Rita McGrath’s blog post for Harvard Business Review “Bank of America: A Case Study in Tone Deafness.” Bank of America recently forced a debit card fee on its customers, which led to disastrous results. This is a classic example of customer-relations disaster where the directors of large corporations failed to understand basic consumer sentiments. Oftentimes, decision making management members come from a glamorous lifestyle that is estranged from the mass public, thus hindering the success of their products and services. Researchers may have the best of intentions and conduct detailed surveys, but they often make crucial mistakes in translating their research into new features and products, and marketing campaigns. Moreover, very rarely do consumers know what they need or want. For many marketing departments, putting themselves in the shoes of customers is easier said than done. It is time for businesses to understand that profit does not come solely from figures on the charts but also retaining their customer base through insightful research and analysis.  It is not every day that a company can score the next big idea like Apple.

Picture source: http://graphics8.nytimes.com/images/2008/02/13/timestopics/topics_bankamerica_395.jpg

Works cited: http://blogs.hbr.org/hbr/mcgrath/2011/11/bank-of-america-tone-deaf.html

At a time in which most global economies are looking for ways to narrow down its budget deficit, Canada proves to undermine this trend as it continues to overspend on unnecessary policies. This includes the issue of a $10-13 billion imprisonment agenda: more jailing centers within the next 5 years and the addition of police authorities to an already overcrowded task force. Stephen Harper needs to justify his actions as Canada’s crime rate over that past decades shows a steady downward trend, reaching an all time low this year. So, why need the mega-spending on such a negligible cause? This is the question our prime minister needs to answer and a cause that I disagree with. Although the notion of keeping our nation safe is in good sprit, it must be noted that it comes at the expense of tax-payers. This act, coupled with past historic of Conservative party’s other questionable spending decisions, seems to conclude that the government neglects the needs of its population. Furthermore, the fact that Canada is already taking on such massive debt contradicts this decision. In such tough economic environments, Stephen Harper needs to prioritize his issues and focus on solving greater concerns.

Read more about this issue from The Province and CBC

Picture source: http://www.globalresearch.ca/coverStoryPictures2/27631.jpg

A controversial issue that received attention in recent headlines is the practice of euthanasia and its legal stance in Canada. Deemed ethically permissible in several parts of the world, Canada stands as one of the various nations that oppose such drastic policy. In a nostalgic situation that was observed nearly 18 years ago, a women suffering from amyotrophic lateral sclerosis recently requested an act of assisted suicide. The arguments currently is whether or not the Canadian government will ever agree on legalizing euthanasia and create the distinction between what some may call ‘aid’ and ‘murder.’ In a society that we live in, it will undoubtedly be difficult to persuade people in accepting the issue. Personally, I believe that criminalizing a person would be problematic should euthanasia be legalized; people will be able to attribute their actions as a means of support. One could commence with murder and blame it on the fact that the he or she was asked to do it, or that the victim was suffering immeasurable pain. Although few argue that terminally ill patients are credited with ending their own live, the potential of abusing the system creates a paradox of values within humanity.

Picture sources: http://cdn1.beeffco.com/files/images/candidates/98731a224eefe2aa5e36a753af5c835a.jpg

http://1.bp.blogspot.com/__hz8H5hx-XE/S384mKsn6sI/AAAAAAAAA1k/epqdggk06o8/s200/euthanasia+doctor.jpg

Article cited:
http://www.theglobeandmail.com/news/opinions/editorials/make-the-right-to-die-legal-with-protections/article2161475/

In response to a series of alleged accounting sandals at Chinese companies listed on the US market, the U.S Public Company Accounting Oversight Board (PCAOB) has been trying for months to reach an agreement to audit the books of many major Chinese corporations. Although the PCAOB has gained access to audit firms in many other countries, their attempt to probe China’s accounting practices has produced little success due to America’s current rocky diplomatic state with China. PCAOB may have acted in the name of justice and providing transparency in the market, but it also depicts the Americans’ lack of respect and contempt for other nations such as China. The USA is not the beacon for law and justice; like any other country in the world, the American system too is flawed and corrupt. Therefore, it has neither the grounds nor the rights to investigate the Chinese accounting. In fact, the Americans merely act under the disguise of justice and pretentious morals to achieve their self-interests. This self-centered quality is thoroughly exemplified in American foreign policies concerning less developed countries such as Iran, Pakistan, Afghanistan and North Korea where the Americans strengthen their empire all in the name of curing “festering problems.”

View the original article at: http://ca.reuters.com/article/newsOne/idCATRE79D1U420111014

Picture source: http://www.reuters.com/resources/r/?m=02&d=20110930&t=2&i=509114877&w=460&fh=&fw=&ll=&pl=&r=2011-09-30T160702Z_01_BTRE78T18RT00_RTROPTP_0_MARKETS-STOCKS

Brand recognition among consumers is a key factor to establishing the firm’s position in the market. A major aspect of a company’s image is its logo; it is what sets the business apart from the rest of its competitors, as well as providing the firm with character and sense of individuality. Starbucks is a prime example of a company that has built strong brand awareness. In doing so, Starbucks has fortified confidence within its industry and with its consumers. A demonstration of this confidence was the unveiling of Starbucks’ new logo to celebrate its 40th anniversary. The new logo has dropped “Starbucks Coffee”, leaving behind only the prominently seen green, two-tailed siren. This change shows that Starbucks has gained such strong customer loyalty and brand awareness, in which allowed them to be recognized only by its logo alone, following the footsteps of Apple and Nike. Redesigning a familiar logo is a risky move as consumers may reject or have negative sentiments towards such revisions as exemplified by Gap’s failed attempt to change its classic blue box logo. To be successful, a logo must be simple yet distinctively reflecting the company’s products and services as well as its culture and values.

Picture sources:
http://catchwordbranding.com/wp-content/uploads/2011/01/TheGreenDot.jpeg

http://www.catholicmatch.com/blog/wp-content/uploads/2011/03/Gap-Logo.jpg

Articles cited: http://business.financialpost.com/2011/01/05/fp-marketing-starbucks-gets-a-new-logo/

http://mashable.com/2010/10/11/gap-logo/

A certain delicacy in Chinese culture is one that is subjected to much criticism on the practice behind preparing it. Known to be practically tasteless, a traditional dish known as shark-fin soup is attracting much attention in recent times due to an ever-growing number of endangered sharks around the world. For an item that commands such a high price in the markets, shark fins are becoming a more sought out commodity by restaurant owners, as the increasing demand for the soup is prevalent among the global Chinese communities. A barbaric act known as finning, hunters kill approximately tens of millions of sharks each year. With only the animal’s prominent dorsal fin pursued as the prized possession, the rest of the body is thrown back into the ocean alive. Historically, finning has forced species to the brink of extinction. Only recently has the issue begun to surface amongst society; in certain parts of the world, the cuisine has been banned. For the sake of tradition, the immoral practice cannot be justified as it is heavily outweighed by the costs of altering the oceanic ecosystems. One has to realize that the lavish appearance of shark-fin soup isn’t as glamorous as it seems.

Watch the video that inspired my blog post here: The Cruelty of Shark Fin Soup

Picture source:
http://www.stopsharkfinning.net/images/sharkfinsoup1.jpg

http://www.stopsharkfinning.net/images/finned-sharks-ocean.jpg

Sino-Forest Corporation was once the largest publicly traded Chinese forest-products company listed on the Toronto Stock Exchange with a market cap of $6 billion. Since 1994, the company primarily engages in the acquisition, cultivation and sale of wood fiber, timber trading, and manufacturing. However, the company’s chief executive has stepped down, after the Ontario Securities Commission accused the company of potential fraud and suspended trading in its shares on the TSX. This comes after an allegation that Sino-Forest was overstating the amount of timber it owned, published by Muddy Waters Research, a firm that “sees through appearances to a Chinese company’s true worth”, and which shorted Sino-Forest’s stock. However, the fact that Muddy Waters only exposed the fraud to short sell the stock while raking in immense profits is disgustingly immoral. Thousands of shareholders lost their life-savings as the stock plummeted from its highest at $26.64 in March to becoming worthless. Justice may have been served but the regulators should have forewarned large brokers and give them a chance to “buy out” the report because the real victims are ordinary citizens who have entrusted their money in the wrong hands. Sometimes, justice does more harm than good to people.

http://www.theglobeandmail.com/globe-investor/sinoforest/osc-alleges-fraud-at-sino-forest/article2143054/

Picture source: http://beta.images.theglobeandmail.com/archive/01312/WEB-forest_jpg_1312916cl-8.jpg