Categories
COMM486G

Social Media and the Information Age

I agree with the suggestion in the Social Media Revolution video that social media is NOT a fad. It is “a fundamental shift in the way we communicate.” I believe social media is here to stay, and that there should be new areas of study established in educational institutions dedicated to examining the effects of social media and how we can better employ it to communicate valuable information.

Even now, the rate and the manner of how we communicate is amazing. The emergence of social media such as blogs have allowed people all over the world to share their ideas with the rest of us.

For example, the novel ways of presenting data is very interactive and extends the time that the people will view the data. Schools should incorporate some of these modern information-sharing methods into their curriculum.

Visit Gapminder and Information Is Beautiful for some examples.

This is a screenshot of one of the graphs on gapminder.

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This graph is found on the Information Is Beautiful website.

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If you are interested in more information about social media and how it is impacting our lives, check this out!

Shift Happens.

Categories
COMM486G

From Ideas to Products to Consumers: Efficient Supply Chains in the Business World

news_main_images-210_lg_zara

To create and sell a product is not difficult. But to do it more efficiently than your competitors is another story, especially in the fast-paced fashion industry. In order for a company to develop an efficient supply chain and to be profitable, it must be able to quickly respond to consumer demands, as well as quickly satisfy those demands. In our current world of fierce competition, timing is key. Companies often come up with ideas that have great profit potential, but it may take a relatively long time in order for the idea to take physical shape, and even longer for it to be delivered to the consumer. By then, competitors may have produced a similar product, and consumers may have different preferences. The article “Fast Fashion Lessons” attributes the success of Zara (a company that sells affordable “high fashion” clothing) to its “shared situation awareness” system. Zara understands the time issue, and makes an effort to discover opportunities in the market and act quickly upon them. It also aims to create high traffic in its stores by stocking low on inventory to create a sense of urgency amongst its customers. The various techniques used in its supply chain have given Zara more control and power in the industry.

Link to the article “Fast Fashion Lessons”

Word Count: 209

Categories
COMM486G

Corporate Social Responsibility: the Haiti Relief Efforts

Today I came across an interesting news article from Yahoo! News titled “Haiti Relief: Corporate Donations – See How Much Major Companies Are Donating.” The articles lists more than 40 major corporations in the US and their donations. Most companies donated $500 000 or $1 million. Although I support donations to Haiti, I keep on thinking about Milton Friedman’s pessimistic views on corporate social responsibility, and what he would say if he were alive. I feel as if many of the companies are mainly donating to compete with competitors (Pepsi donated $1 million, then CocaCola donated $1 million too!! This just makes their actions seem insincere). A while ago, I watched a video about 9/11 and some of its effects. One New York stock broker admitted that when he realized the World Trade Centre was attacked, his first thought was “what will happen to the stocks?!” Similarly, I am sure that the first thing that went through some executives’ heads when they received news of Haiti’s disaster was “here’s a chance for us to seem socially responsible!” I have to agree with Friedman that businesses cannot and should not be responsible to society. It’s up to the individuals to better society if they wish to.

haiti_relief_supplies

Word Count: 197

Categories
COMM486G

Business Ethics: The Tyco International Fraud Case

tyco_2The Tyco fraud case in 2002 was a corporate scandal involving the executive management of Tyco International, a global company that provides a variety of products and services ranging from water purification to armoured wires. kozlowskimug1The CEO Dennis Kozlowski and the CFO Mark Swartz unethically used their power and status for personal gain when they purchased and sold Tyco shares for 430 million dollars while concealing the facts from Tyco’s investors.

When I was on wikipedia searching up the background information to the Tyco case, I found something interesting: After all the crime Kozlowski has committed, he still insists he is innocent. When he was interviewed in 2007 by CBS television’s newsmagazine 60 Minutes, he firmed stated “I am absolutely not guilty of the charges… . There was no criminal intent here. Nothing was hidden. There were no shredded documents… . All the information the prosecutors got was directly off the books and records of the company.”

I can not believe Kozlowski still “believes” in his innocent and has no shame in saying it after STEALING so many people’s money!

Links:

www.cbc.ca/money/story/2002/09/12/tyco020912.html

http://tyco.mediaroom.com/index.php?s=43&item=282

Categories
COMM486G

Hello world!

Hi everyone! Welcome to CINDY’S WORLD!

This post was started for the COMM486G class at the Sauder School of Business in Vancouver. Throughout the course, I will be reading business related articles in class and posting my thoughts on those articles here. I hope you will listen/read to what I say. Please feel free to leave a comment at the bottom of my posts!

Thank you for stopping by 😀

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