With reference to classmate Wilfred Loh‘s blog post about HTC (here),
“Having good hardware is no longer a point of difference, but a point of parity for any top smartphone company.”
I think that’s really true, especially in the mobile phone industry where competition is so tight. Each brand has to create a niche area for itself in order for it to stand out. HTC is lacking in that aspect, it’s a jack of all trades but master of none. Apple is known for its top-notch performance and reliability in the smartphone industry, simply because its (arguably) the most established company among all phone brands. Samsung is known for its “phablet” (phone+tablet) phones with its huge retina display.
Even Blackberry is launching its new BlackBerry 10 next year (read here) and has looked into innovative ways for it to re-enter the industry as a major threat. The new BlackBerry 10 will come with both a touch-screen version and a QWERTY keypad version. On top of that, one of the more groundbreaking changes is the multi-tasking function that allows users to simultaneously use the Internet and check their e-mail. It’s something that rivals don’t have and this will be BlackBerry’s point of difference.
HTC really has to step up its game in order to regain its foothold in the smartphone industry.
We had the privilege to have James Tansey in class today and I did learn a lot about sustainability and corporate social responsibility. An activity in class got me thinking about the various sustainable initiatives we have on campus and looking back, I do think UBC is really sustainable.
There is a culture of recycling here, especially at the cafeteria where we’d have various bins to dispose recyclable materials, compost and general waste. And people here actually bother to sort out their waste though it may be a little more time-consuming that simply thrashing everything into ‘waste’ compartment. Also, there is an extra 35 cent charge on disposable take-out containers. Instead, students are encouraged to use plastic containers provided by the cafeteria for a small one-time fee.
There are several green buildings on campus, one of them being Sauder (SAUDER PRIDE :D). And of course, CIRS- which, may I add, is one of North America’s greenest buildings. The two new residences in Totem Park are green too. We have light sensors in the rooms, such that when there’s nobody in the room, it will automatically be turned off. It will also get switched off if natural light is detected. Currently, both Totem Park and Place Vanier have an initiative called “Do It in the Dark”, which basically is a competition to see which house conserves the most energy. This is really an ingenious way to get students involved in energy-saving as I know of people who to go great lengths just to do their part, like showering in the dark, for instance.
How does Corporate Social Responsibility (CSR) and Sustainability link to business? Well I think it is important to note that ‘business’ is never a standalone field. It is always related to other fields, whether we know it or not, and one of them is CSR. It all boils down to ethics again, and on top of that, its benefits are manifold- like creating a better reputation for the brand, higher efficiency -> higher profits etc.
In short, CSR and Sustainability are really important in our everyday lives and we all should do our part in making the environment we live and interact in more sustainable. It is essential that we also note how CSR/sustainability relates to Business in order to be more ethical in our dealings in the future. 🙂
I really enjoyed today’s COMM101 class today and it was refreshing to gain insight from both entrepreneurs. Wade Larson talked about URTHECAST, the world’s first high-definition video platform of Earth captured from space on the International Space Station.
First HQ video from space- hello San Francisco!
It initially occurred to me that this was no different from the current Google Earth or Google Maps which also allows people to zoom into different places on Earth and also makes use of satellite technology. However, this is vastly different and there’s so much more to UrtheCast than meets the eye.
Besides being fascinated by how HD-quality videos can be seen of various locations on Earth in real time, UrtheCast also has YouTube like search functions where you can press play and pause at various points in the video. Also, there’s a social media dimension to it, like how people’s tweets and locations can be viewed.
I think UrtheCast has an effective business model because of the low costs required and also, the high returns in the future. The significant reduction in costs lies in how UrtheCast makes use of Russian space satellites instead of sending their own into space, hence reducing costs quite substantially. Another advantage it has lies in the fact that it provides high-definition video quality, a point of difference that makes UrtheCast stand out among other competitors.
In the past, most of us would associate Greece with sandy beaches, clear blue waters, magnificent structures, greek gods etc.
Unfortunately, most of us would just think of the debt crisis now whenever Greece comes to mind. 🙁
This question was posed during class on tuesday: should Greece exit the eurozone?
There are both sides to the coin, but I’d say NO. Leaving the eurozone would bring on a host of other problems and it might worsen their current financial and economic situation. One of the features of being in the eurozone is the common currency they have. If Greece leaves the eurozone, the currency would have to be converted to Drachmas, which is of much lower value. Greek banks will face hoards of people running to banks to pull their money out before their money gets converted to Drachmas. With the current economic state Greece is in, I highly doubt the government would have sufficient capital to fund the banks in order to absorb their losses, hence leading to bank bankruptcy. Other problems will surface too like higher import costs and also, social problems when people start noticing their increased cost of living.
Kicking Greece out of the eurozone would not help solve anything. Their debt will still remain. In fact, I think it’ll bring a chain reaction of even more problems. Instead, I think Greece should undertake austerity measures by cutting down their expenses, which includes pensions and benefits that the Greeks currently enjoy.
Emily Chen’s blog post about The Starbucks Experience really got me thinking about the ingenuity behind its branding. They serve pricier coffee than most coffeehouses, but why do they still appeal to so many people? And why are the line-ups at the SUB’s Starbucks almost comparable to that of the Tim Horton’s at Sauder despite the latter having their drinks so much cheaper?
One word: marketing!
Of course, Starbucks ensures customers with premium coffee beans and quality ingredients. However, I believe it’s their marketing that sets it apart from other coffee brands.
Step inside any Starbucks outlet and you’ll immediately feel this aura of classiness (…no?). The smell of fragrant coffee wrafting in the air, the feeling of home when you see the amount of wood used in its interior design and their awesome playlist with handpicked indie music. Oh, not forgetting the sophisticated-sounding coffee names that make you sound a tad classier after managing to pronounce it right. 🙂
And did you know that there’s a clever concept behind their round tables too? Apparently, round tables are more inviting as there are no edges, so there aren’t any restrictions to how many people can fit around the table. The more the merrier, and cosier 🙂 However, it works both ways too. Round tables make people feel less alone too, especially for students who prefer to study in solitude.
It is no wonder why people would still make Starbucks their first choice despite so many cheaper alternatives out there. I am no exception, and as I’m typing this, it is no surprise that I’m sipping on a grande Pumpkin Spice Latte. 🙂
On the topic of social entrepreneurs, I’d like to share the story about Blake Mycoskie, otherwise known as the founder of TOMS, and how he came up with the one-for-one idea. (Fun fact: did you know that Blake was a contestant in The Amazing Race before he started with TOMS?)
Blake travelled to Argentina in 2006 to do some community service work among other things like playing polo and learning tango. During his time there, he was hit with the realization that many kids did not have proper footwear. Hence, he decided to create TOMS based on traditional Argentine alpargataa slip-on—in lightweight fabrics and vibrant colors and prints. With every purchase of a pair of TOMS, another pair will be donated to a child in need.
I think this is a pretty effective business model. Not only is TOMS one of the world’s most successful footwear retailers, more importantly, the method of helping the needy is effective too, unlike traditional donations that may or may not even reach the actual people in need due to the lack of transparency and bureaucracies.
Personally, I love the idea of social enterprises. They’re run by people with a genuine heart who want to make a change in society, starting up a social cause that happens to work exceptionally well as a business, as opposed to a business that happens to have a social cause. 🙂
It’s getting late and I’ve to churn out one last blog post…and all I’m thinking of right now is CHOCOLATE (for some reason unbeknownst to me). So, I shall proceed to blog about chocolate. Or rather, the chocolate industry and I’m going to apply Porter’s 5 Forces to see if it’s profitable for another (hypothetical) chocolate brand to break into the industry.
My new brand of chocolate will be in the form of a chocolate bar. It’s insides will be filled with Nutella, marshmallows, gummy bears and all things sweet. 😉
Barriers to entry are pretty high, because a lot of capital will be needed to start up a well-equipped factory, pay the workers, buy the ingredients etc. Also, brand identity may be an issue because people might be skeptical about this new brand of chocolate and might rather stick to conventional Cadbury or Hershey -.-
Threat of substitutes is pretty low since there aren’t chocolate bars with such fillings around yet. Hence, it’s not very substitutable. But then again, we’re talking about perfect substitutes. If we’re referring to close substitutes, then many other types of chocolate bars would serve as substitutes too.
Supplier power is high because the cost of ingredients are not particularly exorbitant, nor are they rare minerals. Buyer power is questionable, because on one hand, it’s a rather unique flavor, but will it be differentiated enough for the masses to purchase it? Rivalry is rather high as well, because of the large number of chocolate brands involved in the market and also high startup costs.
In conclusion, my analysis shows that…the chocolate industry isn’t attractive enough for my (hypothetical) chocolate brand to move into. Barriers to entry are high, chocolate bars are easily substitutable due to the numerous brands around, buyer power is low since my brand of chocolate bar is admittedly not differentiated enough from other brands and rivalry is high too. Okay, guess my chocolate business won’t be working out anytime in the near future until I think of a better plan. Till then…
Facebook’s recent IPO and declining stock prices has caused much spark in the financial sector. Is this indicate of Facebook’s growth rate in the future?
Firstly, what’s IPO?
Initial Public Offering (IPO): The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded.
With over 800 MILLION active users, Facebook is one of the BIGGEST companies in the world right now and people would have expected its IPO to be SKY HIGH. This generated excessive hype over it, causing an over-estimated stock price. Another main reason could be the lack of advertisements on the mobile site. Due to the rampant use of smartphones, this could affect the company’s revenue quite significantly.
How’s the future like for Facebook?
Actually, I do not think the low IPO is indicative of anything. I mean, sure, if you compare it with Google’s, this is peanuts. However, bear in mind that Google was a relatively young company then when it filed for its IPO, compared to Facebook, which is at a more mature stage of the growth cycle. Hence, its growth is not as exponential as before.
Finally, with Facebook claiming nearly three-quarters of everything using the Internet, it’s hard for it’s growth rate to NOT take a dip. It’s not possible (mathematically) to keep up with the growth rates if there’s no one else left to join in the fun.
So don’t worry, Facebook isn’t going anywhere. It sure isn’t going to follow the footsteps of Friendster or Myspace anytime soon… 🙂
(Reference from External Article: http://search.proquest.com/docview/1013524060?accountid=14656)
American comedian Jimmy Kimmel goes on the streets with an iPhone 4s, tricking people to believe that it’s the latest iPhone 5 and getting their opinions on it. Many of them fell for it and claimed that the new “iPhone 5” was lighter, faster and better when in actual fact, it’s the same phone.
This clearly shows the cult-like following that Apple has. Consumers are willing to spend huge bucks and queue for hours just want to get their hands on the latest Apple products. Is this a result of Apple’s effective marketing strategies? Let’s take a look at the concepts we’ve learnt so far.
In terms of positioning, I believe consumers associate Apple products with innovation- the latest and hottest gadget out there. The blackberry is more suited for businessmen, having the sleek, palm-sized look. The Samsung galaxy models are perhaps more catered for youngsters with the huge retina display and high-quality camera.
Apple, I believe, encompasses all. It oozes class, appealing to businessmen. It fits snugly into your palm and it’s easy to use as well which caters to all-age groups because who wouldn’t like a user-friendly phone?
The Apple webpage right now shows this tagline for the new iPhone 5:
“The biggest thing to happen to iPhone since iPhone”
I guess the value proposition of Apple is PERFORMANCE. The iPhone being bigger, faster and better than all the other smart phones out in the market. And people like that sense of superiority.
There has been much controversy over legalizing organ sales all around the world in recent times.
More and more people are succumbing to organ failure, however, the number of donors are few. Will monetary incentives entice people to donate their organs? This begs many ethical issues.
This may lead to the exploitation of the poor and less educated. Just think about it. Why would anyone want to sell their body parts to a stranger? The rich won’t do it, and neither will the middle-class. Only the poor will and that’s definitely out of desperation. The poor may be so desperate for money that they’ll be willing to sell their organs at any price and they might not even be informed of the adverse health risks and complications that may arise from the surgery. Also, the rich patients may have the means to pay more for the organ required, but not the poor, thus leaving the poor at the losing end and probably decrease their chances of survival.
Next, why are organs being treated like commodities? This brings about ethical issues in the religious aspect, that God made us a whole person with all our organs intact, so who gave us the permission to treat our body parts like commodities and sell them as and when we want?
Even though the government may have certain regulations and policies put in place to minimize exploitation and keep the black market for organ sales at bay, I still don’t think it is ethical. If anything, organs should be donated instead for pure altruistic purposes and not for the sake of earning quick bucks.
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