Monthly Archives: November 2014

Small business week Canada takes place every year to create a place to network, share ideas and learn. This year the theme was “back to basics- re-energizing your business.” I found this article particularly interesting as when I first came to Sauder I was surprised by the amount of attention they gave to networking even in our first year. However, over time I have realized that this is the backbone to the business industry: it’s more about who you know, how you can influence them, and how you can motivate them if you want to be an entrepreneur or in a managerial position. Three out of the 5 “top do’s” we to do with engagement with people and building strong and lasting relationships. (“The 5 Do’s and 5 Don’ts of Successful Businesses.”) This reminded me of the Sauder Alumni class when Nolan Watson said that most entrepreneurs are “day-time extroverts” meaning they are out going during the day and then after work they stick to themselves more. It is interesting to understand just how important connections are throughout your business career.

Most of the “top don’ts” were based on understanding your market and minimizing risk by diversifying. This is not surprising however it taps into a lot of what we have done in class already – the importance of management accounting, market research etc. Reading this article has in a way summed up a lot of what we have learned in COMM 101 so far this term, putting into perspective the most important areas of business and helping me understand what it will take to become a successful entrepreneur like many of the Sauder graduates.

“What Business Do’s and Don’ts Have Impacted Your Success? BDC Celebrates Small Business Week.” What Business Do’s and Don’ts Have Impacted Your Success? BDC Celebrates Small Business Week. Web. 10 Nov. 2014. 

“The 5 Do’s and 5 Don’ts of Successful Businesses.” BDC. Web. 10 Nov. 2014. <http://www.bdc.ca/EN/about/sme_research/Pages/five-dos-and-five-donts.aspx?ref=shorturl-dosanddonts>.

The Arc Initiative helps entrepreneurs understand and develop their businesses by teaching them business tools and knowledge while they teach the UBC students / alumni about their business and provide them with experience with small businesses.

The United Nations on the other hand looks towards finding peace between nations, maintaining international security, solving international problems etc. (“The UN in Brief.”) This is fantastic for many businesses as they strive to provide more stable nations politically, which can greatly hinder some firms, and of course this will lead to a greater economy – with more people getting educated, better health care etc.

However, Arc Initiative is an important tool for under-developed countries at the moment as it helps entrepreneurs with their businesses allowing them to succeed to a high degree in their city or town. It is important for two reasons; firstly, the world is better and more efficient when people are taught how to do things rather than given things. This is why there is such high debate about aid; it is only a very short term solution. Norman Borlaug (leader of the green revolution) proved this to be very true.

He went through a lot of Asia to teach developing countries efficient ways to farm using new technologies creating a much larger yield and thus profit for the farmers to expand. This is how I see the Arc Initiative- they give the entrepreneurs the tools and push them in the right direction- allowing them to strive in their business and hopefully teach their new skills to others in their company to create a more knowledgeable group of people who can potentially run their own businesses.

Overall, it is a very necessary program, regardless of the united nations involvement in the world.

“The UN in Brief.” UN News Center. UN. Web. 10 Nov. 2014. <http://www.un.org/Overview/uninbrief/about.shtml>

Some entrepreneurs start up a business with the goal of creating it big enough to sell off for a large lump sum, others create a business because they believe in their product and want to make it as big as possible. Of course, with acquisitions we can argue that the seller has the option to sell or not- however often these companies create such an appealing offer that it’s difficult to say no. For example, Apple spent $3 billion on Beats. (Welch, Chris) Is this bad for Beats as a business? They retained most of their managers, but now have a much larger parent company to help them in times of need and increase their customer base. This is the way I have thought about acquisitions before Adam pointed out that this may be ruining the innovation of a lot of large firms such as Apple, Google and Microsoft, and will potentially change the way businesses are run.

Small start-ups do not have the money for the most advanced technology (in most cases) or the time needed to create disruptive innovations (like Amazon in the book industry). It is usually left up to the larger more profitable companies to do this. So now they’ve shifted their focus on acquisitions, who’s going to innovate?

Welch, Chris. “Trent Reznor on His New Role at Apple: ‘it’s Everything I Asked For'”The Verge. Web. 3 Nov. 2014.

Our phones and computers don’t just help us connect with friends and family anymore- they help businesses convince us to come to them. With more and more people spending 24/7 on their electronic devices, it’s no wonder business are starting to put more information and purchase options online. However, the fast food industry seems the last to catch on with the new trend. Statistics show that loyalty programs influence a customers decision of where to eat up to 40% in 2012. (Wong, Venessa)

Finally, McDonalds seems to be stepping up their game after declining restaurant sales over the past few years. Offering a loyalty card for it’s subsidiary “McCafe,” perhaps testing out the waters. They’ve made it easy and simple to use – just tear it from the hot beverage drink you order, and the stickers (for each drink you buy) are also on the cups every time you order. After every 7 drinks, you get the eighth one free. (“McDonald’s Launches McCafé Loyalty Program.”) Will this increase McCafe’s sales? And will McDonalds end up creating a loyalty card for their frequent customers? 

I can see protests arising from loyalty cards for McDonalds food as it encourages people to eat unhealthy, a subject everyone seems very interested about lately. At the same time, people will definitely take advantage of this card- perhaps increasing McDonalds sales. We will have to wait and see..

Wong, Venessa. “McDonald’s Doesn’t Have a Loyalty Program, but It Could Use One.”Bloomberg Business Week. Bloomberg, 3 Nov. 2014. Web. 3 Nov. 2014.

“McDonald’s Launches McCafé Loyalty Program.” Marketing Magazine McDonalds Launches McCaf Loyalty Program Comments. Web. 3 Nov. 2014.