Monthly Archives: November 2015

With reference to Class 20 on Social Enterprise, I agree and support the “one for one” business model because I admire and respect its focus on a solution to poverty through entrepreneurial means. Sole Rebels is a sustainable shoe company that has manufacturing plants in developing countries which creates labour opportunities for locals. Toms on the other hand, has implemented the “one for one” business plan; with every purchase of a toms shoe, a person in a developing country receives a pair of toms for free. True, there are some issues with manufacturing and who it is that takes up the cost for producing the “free” pair of toms, I believe that the overall effort is a great start. There are only a few popular companies whose core values lie in social enterprise and suppressing the idea altogether belittles the efforts that have been made.

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I believe that if Toms takes a different approach towards their manufacturing and outsource to building plants on site in developing countries it can benefit both sides; the company and its workers. Toms has an established reputation as their brand promotes their values of a solution to poverty. As a quote in Wharton says, “We know from research that people are most motivated to help when they feel a connection to those whom they’re helping.” As the “one for one” model continues to be experimented on, I have faith that with innovation and research an optimal solution can be reached that promotes positive change and sustainability.

Word Count: 250

References:

1. Forbes. Forbes Magazine, n.d. Web. 16 Nov. 2015. <http://www.forbes.com/sites/jamespoulos/2012/04/11/toms-shoes-a-doomed-vanity-project/>.
2. “How Social Entrepreneurs Make Change Happen.” Harvard Business Review. N.p., 14 Oct. 2015. Web. 16 Nov. 2015. <https://hbr.org/2015/10/how-social-entrepreneurs-make-change-happen>.
3. “Our Ethos.” Our Ethos. N.p., n.d. Web. 16 Nov. 2015. <http://www.solerebels.com/pages/our-ethos>.
4. “The One-for-one Business Model: Avoiding Unintended Consequences.” KnowledgeWharton The Oneforone Business Model Avoiding Unintended Consequences Comments. N.p., n.d. Web. 16 Nov. 2015. <http://knowledge.wharton.upenn.edu/article/one-one-business-model-social-impact-avoiding-unintended-consequences/>.
5. “The One for One Company | TOMS.” The One for One Company | TOMS. N.p., n.d. Web. 16 Nov. 2015. <http://www.toms.ca/?cid=ps_cabrand&utm_source=google&utm_medium=cpc&utm_term=toms&utm_campaign=CA%2B-%2BBrand%2B-%2BHead%2BTerms%2B-%2BExact&utm_content=svNtDEdsn_dc%7Cpcrid%7C44861492509%7Cpkw%7Ctoms%7Cpmt%7Ce%7C>.
6. “What Is Social Entrepreneurship?” Skoll World Forum on Social Entrepreneurship. N.p., n.d. Web. 16 Nov. 2015. <http://archive.skoll.org/about/what-is-social-entrepreneurship/>.
7. Wikipedia. Wikimedia Foundation, n.d. Web. 16 Nov. 2015. <https://en.wikipedia.org/wiki/Dambisa_Moyo>.

Louis Vuitton, Tiffany & Co, Hermes, Prada, Celine, Hugo Boss. The list of luxury retail brands go on and on. In today’s day and age, the demographic for customers who prefer shopping online changes how luxury brands target consumers. “Why is this?” one may ask. With today’s demographic becoming more tech-savvy and having more available technology at hand, consumers are looking for convenience to complement their busy schedules. Luxury brands have been over-allocating expenditure on advertising through print ads when they should be investing more into digital ads.

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Luxury shopping is also less brand and status oriented than it used to be. As e-commerce becomes more and more popular, luxury brands have dipped their toes into the online shopping world, though many do not offer as many products online as they do in store. Luxury brands often value the in-store customer experience and may not prefer the lack of exclusivity. However, many who are of the age bracket tend to have less time to browse in store when they have the option to do so online. Fashion sites like Stylecaster also put together “celebrity-inspired” outfits for cheaper prices. As I have learned in class about market research and branding, luxury retail brands have to adapt to constantly changing preferences if they hope to attract loyal customers.

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Word Count: 217

References:

1. Halpin, Cooper Smith and Nancee. “How Luxury Shoppers Are Changing the Face of Retail.” Business Insider. Business Insider, Inc, 13 Nov. 2015. Web. 16 Nov. 2015. <http://www.businessinsider.com/the-luxury-e-commerce-report-the-shopping-preferences-of-high-income-consumers-2015-11>.
2. “The Definition of Luxury Retail Is Being ‘shattered’.” Washington Post. The Washington Post, n.d. Web. 16 Nov. 2015. <https://www.washingtonpost.com/news/business/wp/2015/01/12/the-definition-of-luxury-retail-is-being-shattered/>.
3. “Shopping.” StyleCaster. N.p., n.d. Web. 16 Nov. 2015. <http://stylecaster.com/shopping/>.
4. “Why Are so Few Luxury Brands Sold Online?” Ecommerce Platforms. N.p., 14 May 2015. Web. 16 Nov. 2015. <http://ecommerce-platforms.com/ecommerce-selling-advice/why-are-so-few-luxury-brands-sold-online>.

The term “authentic” described by dictionary.com is as follows: “not false or copied; genuine; real.” Businesses often times are associated with having a “self-seeking” nature. An authentic workplace with this assumption in mind seems like a stretch. According to Rob Goffee and Gareth Jones’ blog post on the Harvard Business Review, companies that “diversify” their workplace may not be reflecting the differences that mean the most. More often than not, these differences are more than skin-deep. Goffee and Jones suggest that businesses should hire those with, “fundamental differences in attitudes and mind-set between one person and another.”

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I agree with this statement entirely and believe that companies should strive to achieve authenticity in their workplaces that will create value for the organization as a whole. Though diversity in terms of age, disability, religion, sexual orientation, skin colour and culture are always great, those working in the organization should be able to be themselves. What does this mean, to be yourself in the workplace? Coffee and Jones describe it simply: “to have a voice, exercise discretion, express disagreement, show what they really care about, and feel “natural” or self-fulfilled on the job.”I have learned from class about management and creating a workplace where employees are passionate about the companys’ goals. Creating an authentic workplace is the perfect depiction of this and I hope to have the opportunity to work for an organization that understands the importance of difference.

Word Count: 231

References:

1. Dictionary.com. Dictionary.com, n.d. Web. 16 Nov. 2015. <http://dictionary.reference.com/browse/authentic?s=t>.
2. Goffee, Rob, and Gareth Jones. “Authentic Workplaces Don’t Try to Make Everyone the Same.” Harvard Business Review. N.p., 12 Nov. 2015. Web. 16 Nov. 2015. <https://hbr.org/2015/11/authentic-workplaces-dont-try-to-make-everyone-the-same>.

How do companies respond to a good that is highly inelastic? You guessed it- they raise their prices like there is no tomorrow. With reference to Trisha’s blog, Alexion Pharmaceuticals’ drug for rare blood diseases, Soliris charges $700,000 in Canada for a year’s use. This is one of the many patented drugs that have driven prices up because of it’s inelastic nature. Lawsuits have been filed against the government for its attempts on cutting its prices. Similar to Trisha’s comments, this issue makes me question the values of Alexion Pharmaceuticals and the thoughts of their decision makers. If their core values do not include the wellness of patients and simply the profit generated, it is ironic for them to market their supposedly, “patient-focused” values.

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I believe that further measures should be taken to decrease prices of overly expensive drugs. Especially for drugs that have a, “life or death” impact, the inability to afford this drug can literally change someone’s life. Alexis Pharmaceuticals promotes the amount of research and development that they have on medicine, however this is deprived from people who cannot afford their products and therefore cannot benefit from their breakthroughs in research and technology. This issue really boils down to the company’s values and what it is that they truly support.

Word Count: 212

References:

1. “Alexion Pharmaceuticals, Inc (NASDAQ: ALXN) | Global Leader in Treatments for Patients with Devastating and Rare Diseases.” [value]. N.p., n.d. Web. 16 Nov. 2015. <http://alxn.com/>.
2. News, CBC. “U.S. Drug Company Sues Canada for Trying to Lower Cost of $700K-a-year Drug.” CBCnews. CBC/Radio Canada, 25 Sept. 2015. Web. 16 Nov. 2015. <http://www.cbc.ca/news/health/u-s-drug-company-sues-canada-for-trying-to-lower-cost-of-700k-a-year-drug-1.3242172>.
3. Rana, Trisha. “Trisha Rana’s Blog.” Trisha Ranas Blog. N.p., n.d. Web. 16 Nov. 2015. <https://blogs.ubc.ca/trisharana/>.

Many banks have now implemented a mobile banking option that makes banking easier for customers on the go. Is this a positive or negative change? In regards to Laura’s blog, she states that, “the movement towards technology, banking in app form could soon become common practice.” I completely agree. 55% of Canadians have switched to internet banking as their primary choice of banking. Mobile technology and advancements in speed and efficiency for these banking applications and sites will only increase in popularity from here on out. This is also great for companies as this new channel picks up, profit for them will increase as well.

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However, an issue that I’d like to address is security. Is online banking safe? Although companies do their best to implement security policies to ensure confidentiality, traditional customers often question the security of these measures. There have been online hacking incidents that have negatively affected banks’ reputations. As our society evolves into a tech-savvy culture, I believe that it is important to take into consideration the possible loopholes in the technological system to further improve. Fortunately, there are already several banks that have daily security changes in their systems and top-of-the-line technology to ensure security for their customers.

Word Count: 202

References:

1. “How Canadian Bank.” Canadian Bankers Association. Canadian Bankers Association, 29 July 2015. Web. 3 Oct 2015.
2. Sayson, Laura. “Laura Sayson’s Blog | Just Another UBC Blogs Site.” Laura Saysons Blog. N.p., n.d. Web. 16 Nov. 2015. <https://blogs.ubc.ca/laurasayson/>.

Macy’s inventory percentages have rung warning bells at its stores this past month. By the end of October, inventory was up 4.6 percent due to the incoming holiday season and new winter merchandise. Sales for Macy’s have also dropped, causing other department stores’ sales to drop as well. Because of this inventory pile up, Macy’s has marked down many of their products to clearance in hopes of attracting thrifty customers. In its last quarter, Macy’s CFO has reported that they will need, “to liquidate this inventory in the fourth quarter so that we can maintain the flow of fresh new merchandise.”

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I agree with this statement that Macy’s CFO Karen Hoguet says. Based on what I’ve learned about inventory and operations, high inventory is never a good thing. A company’s quick fix to this usually results in clearance sales and mark downs. Though this is a quick fix for the short run, I believe that operation changes should be made on the way that inventory is dealt with. If the company can find a way to generate a fluid flow of merchandise that will benefit them in the long run, it can improve sales and increase efficiency for the company altogether.

Word Count: 204

References:

1. “Macy’s Sales Continue to Slump.” WSJ. N.p., n.d. Web. 16 Nov. 2015. <http://www.wsj.com/articles/macys-reports-disappointing-sales-1447248170>.
2. “Macy’s Cuts Outlook, Says Markdowns on the Way to Clear Elevated Inventory.” Www.theprovince.com. N.p., n.d. Web. 16 Nov. 2015. <http://www.theprovince.com/business/fp/macys+reports+lower+sales+trims+profit+forecast+2015/11508764/story.html>.
3. “Macy’s – Shop Fashion Clothing & Accessories – Official Site – Macys.com.” Macys. N.p., n.d. Web. 16 Nov. 2015. <http://www.macys.com/?&cm_mmc=GOOGLE_Trademark_International-_-Macys%2BTrademark%2BExact%2BCAN%2B-%2BG_Macy%27s%2BCanada-_-43774054774_Exact-_-macys_mkwid_sqNMXP9D8%7Cdc_43774054774%7C-%7CqNMXP9D8>.
4. Ramakrishnan, Sruthi. “Mounting Inventory at Macy’s Is Ringing Warning Bells at Department Stores.” Business Insider. Business Insider, Inc, 11 Nov. 2015. Web. 16 Nov. 2015. <http://www.businessinsider.com/mounting-inventory-at-macys-is-ringing-warning-bells-at-department-stores-2015-11>.