Shirley Deutsch, a fellow 101 student discusses how millennial demand a different approach for firms to be successful at getting their attention. She breaks it down into 3 components: Technology, Stability and Culture. My argument, although I agree with some aspects of her opinion, is that it isn’t the consumers that are changing the market, but it is large firms that are setting the bench mark for market interaction.

For example, we look at Apple, a leading corporation in contemporary society, and one can witness the marketing that the company promotes through commercials such as the one in this Youtube link: https://www.youtube.com/watch?v=v76f6KPSJ2w,  In this advertisement, you can see that apple has created an add in which it promotes families getting together without actually ever promoting the product; however, viewers still know that it is an apple product through subtle hints. But that’s beside the point, Apple has started a trend of creating marketing through human connection and experience. This approach markets toward the millennial generation on a subconscious level, large corporations (such as Apple) create adds that appeal to the beliefs of the majority while the viewer still understands that a product is being promoted. This modern tactic creates the most amount of supporters to date. That is why large firms, like Apple, are the leading bench marks for market display.

References:

https://blogs.ubc.ca/shirleydeutsch/

Ever since the popularity of “charity” has risen in western societies, many organisations have taken advantage of the common misunderstanding of aid. In economics taught in high school, we learn that there are different types of aid, and not all of them actually help the intended. That is why there is a fine line between social enterprise and useless/ detrimental aid.

When looking at the one-for-one business model, initiated by TOMS Shoes, we see charitable aid providing the under privileged with free shoes. One way of interpreting this aid is by seeing what it does to the local market. Personally, there is agreement with Andreas Widmer:

Why would you go buy something if you could get it for free?

-Andres Widmer

This statement forms the is the underlying issues with charitable aid (aid that bluntly gives free products/ services to the needy). When foreign firms or charity organisations donate goods or services during emergency one-off times, there is no doubt that such aid is essential for sustenance of life in extraordinarily dire times. When that aid persists and becomes a reoccurring ordeal, local markets suffer as they are unable to compete with ‘free’.

When looking at the business model, implemented by Dr. Bethlehem Tilahun Alemu on her social enterprise soleRebels, we instantly see a company that stems from within the economy and know what will help. Having constant support of local artisans will have a significantly better impact on future prospect as it gives individuals the skills and knowledge to potentially carry on without the western helpers looking over them.

Thus there is need for firms to address ‘the fine line’ between being a social enterprise that creates a positive impact on the world and a firm that uses charity to their personal gain. If a firm truly believes that their business model has a positive impact on the world, they should have to show ‘How?’.

What quantitative method or statistic does this? Could such a statistic be implemented to truly judge the positive impact of an enterprise.

References:

“The One-for-one Business Model: Avoiding Unintended Consequences.” KnowledgeWharton The Oneforone Business Model Avoiding Unintended Consequences Comments. Wharton University, 16 Feb. 2015. Web. 17 Nov. 2015. <http://knowledge.wharton.upenn.edu/article/one-one-business-model-social-impact-avoiding-unintended-consequences/>.

 

Throughout the past decade, the middle east has been viewed in one light, and that is the light of constant war and destruction. Will that all change with a few bright college grads aspiring to create a new business or start-up?

Aljazeera recently posted an article about the current movement into entrepreneurship within the middle east, highlighting the many different benefits that it has brought. A key point that was mentioned in this article was:

The idea of [Silicon Valley] is what sparked a series of start-up events, such as RiseUp in Egypt and Arabnet in Lebanon, Saudi Arabia, and the United Arab Emirates (UAE).

-Bayrasli

Now it would be interesting to see that, potentially in a few years time, the Middle East could be associated with technology and innovation in the same way that the US has been for a long time. Not only would this movement boost economies it could also speed up innovation itself.

Of course there is a possibility of major failure, considering the constant tension and conflict that is occurring there, but again this could be the next stepping stone. In fact it would be a leap from fighting for resources to creating products that revolutionise life.

 

 

 

Maybe technology will be the force that unites us as a planet, or is that far fetched?

References:

Bayrasli, Elmira. “Start-up Middle East.” Al Jazeera English. Al Jazeera News Network, 05 Nov. 2015. Web. 12 Nov. 2015. <http://www.aljazeera.com/indepth/opinion/2015/11/start-middle-east-151103125026009.html>.

 

Sky News reports on a recent comment made by David Cameron Saying,

“Access to the internet shouldn’t be a luxury; it should be a right – absolutely fundamental to life in 21st century Britain. That is why I’m announcing a giant leap in my digital mission for Britain.” (Sky News)

http://factmag-images.s3.amazonaws.com/wp-content/uploads/2013/07/david-cameron-mixtape-fact-7.31.2013.jpg

This statement implies that within the next decade, the UK is expected to have a universal broadband provider that will cut internet costs for citizens.

Along with this, BBC reports on the new project in the works at Google. Their latest project involves a system of balloons that may provide almost 4G speed wifi to remote areas of the earth.

Now taking a step back from all the innovation, we need to acknowledge the fact that the “Internet” is no longer just another source of entertainment. Humanity has adapted to the existence of such a resource so quick that almost in the spam of 3 decades we went from a basic tool to win a war, to essential component of life like water and gas.

This just comes to show the the potential for working in this industry, in the current time, is just endless. It is great to see how when faced with major obstacles companies are willing to go to great lengths to solve their issues. The only question that remains is: how do we deal with the issues that are less profitable and desirable?

Sources:

Kelion, Leo. “Google’s Project Loon Internet Balloons to Circle Earth – BBC News.” BBC News. BBC, 28 Oct. 2015. Web. 09 Nov. 2015. <http://www.bbc.com/news/technology-34660205>.

“Fast Broadband To Become A Legal Right For All.” Sky News. N.p., 07 Nov. 2015. Web. 09 Nov. 2015. <http://news.sky.com/story/1583277/fast-broadband-to-become-a-legal-right-for-all>.