Toms shoes have grown so rapidly that its founder, Blake Mycoskie has recieved multiple awards for not only his financial success but his social cause as well. His cause, which is to donate one shoe to a child in need for every shoe purchased, is an innovative feat of social entrepreneurship. Since TOMS shoes was launched in 2006, over 1,000,000 shoes have been distributed to children in need which is extremely impressive. Blake Mycoskie has proven that the main goal of entrepreneurship does not have to be all about money, but about social endeavors as well. In the business world, it is so easy to lose focus on social goals as the financial rewards or costs often outweigh the social goals. But balancing financial goals with social goals is much easier said than done, as social entrepreneurship often involves collaborations from bigger companies which might not necessarily share the same goals. As bigger companies strive for financial success, it is up to the social entrepreneur to try and balance the social and financial aspects in order to reach both goals without losing focus.

In an era of internet marketing and technological advances, it seems that the old fashioned way of marketing is slowly being forgotten. But research has shown that despite all the shift towards internet and social media marketing, the word of mouth approach is still extremely effective and often a preferred marketing technique by many consumers. As Mikal E. Belicove has written, many companies are approaching internet marketing with a word of mouth or referral technique in mind, which could make their marketing strategies more effective. And as people refer products and services to others in real life, consumers will be having high expectations towards the product or service referred to them, therefore companies should strive to provide consistently good products and services in order to capitalize on the marketing which is actually being done by its consumers. And as there are various social, cultural and personal factors affecting consumer behavior, companies should also aim to personalize their internet marketing techniques (such as message boards and discussions or though sharing) in order to encourage referrals which will garner them an even larger consumer base.

The famous Nike swoosh and Adidas’ three stripes are synonymous to cool sportswear and lucrative sports sponsorships all around the world. But since the past decade, the famous swoosh and three stripes became famous for a less favorable reputation, which was Sweatshops. This infamous trend was widespread during the beginning of the 20^th century and was widely practiced all over developing countries. Labor was much cheaper in those areas as opposed to most parts of Europe or the USA, which was seen as a golden opportunity to maximize profits as well as expand production. The labour market in Europe and the USA at the time was productive and there was enough supply of labour, but there was one problem, which was the wage rate. Trade unions are powerful organizations in Europe and the USA, and with that create imperfections in the labour market by securing wages for its members above the equilibrium wage rate, which would in turn increase costs for firms. Researchers also showed that although the population growth in Europe was to increase in the next 20 years, there would be a change in the age structure of the population, which was a decline in the younger segment and an increase in the older segment of the working age population. Therefore, with a longer-term decline in the working age population in Europe, an ageing work force and ageing population and increasing elderly dependency ratios combined with a resistance to larger scale immigration, the logical question to ask was if there would be an increase in the demand for labor in Europe?

(Proudly?) Made in Bangladesh

The recent string of factory collapses in Bangladesh has shed more light into the dismal working conditions and safety standards of big- brand clothing manufacturing factories in developing countries. After the infamous Nike scandal during the 1990’s, one would think that big clothing chains would start to give more thought into how the clothes were being produced, rather than how cheap the clothes can be produced for. And given the ever growing “ethical” trend, one would also think that companies would start capitalizing on that trend- regardless if its to increase their revenues or create a good reputation. But the fact that these large companies are still turning a blind eye when it comes to safety standards and the wellbeing of the factory’s workers shows that there is still very much to be done about the lack of concern there in the corporate world regarding ethical matters. And the fact that all the fuss about signing safety standard agreements only began after the tragedy occurred also shows that these companies aren’t able to properly judge the consequences of careless outsourcing of production. The issue of minimum wage is a debatable one, as it is the case that the government of the factory’s country plays a crucial role in enforcing that, but large companies should not have a careless attitude by choosing to shrug off these issues, because they can actually choose to make a difference by simply conducting safety inspections before outsourcing. And with consumers growing more and more ethically- conscious, it should be a further incentive (if any is even needed in the first place) for large companies to actually care.

Peter Ewart & Dawn Hemingway’s response on the financial crisis which occurred in Iceland back in 2008 and 2009 provided helpful insight in trying to understand the current situation of economy as well as the extent of financial control a country needs to have in order to avoid having disastrous financial crisises. After reading the blog, I could see how countries could lose grip of their finances and end up asking for help from other countries or institutions. The collapse of three of Iceland’s banks due to their difficulties in managing their short- term debts which nearly caused the country to go bankrupt. Emergency measures such as massive borrowing from the IMF and other countries as well as austerity measures helped clear out some of the debts, but the effect it had on Iceland’s people still linger till now. The financial crisis which occurred in Iceland can be learned from, as it is dangerous to lose control of finances and the long term consequences can be extremely devastating. Therefore, although it might seem that countries have a strong grip on their finances, mistakes can so often be made; making it imperative to prepare for the worst and expect the best in finance.

Source: http://www.opinion250.com/blog/view/22044/1/reflections+on+iceland+and+the+financial+crisis+-+part+10

After reading Spencer Baldwinson’s insightful blog, I became more aware as to how serious competition is. Many developed countries have set up strict rules regarding competition policies which have helped prevent harmful monopolies from forming. Although governments and competition agencies put in their best efforts to prevent such monopolies from occurring, it is often the case for companies to find a way around the policies implemented. A good example for this would be the Intel controversy from the blog post, which shoes how thin the line is between favourable competition and harmful competition. As said in the blog post, capitalist nations such as the USA which favour competition and encourages it in the private sector still have rules to govern the competition. In my opinion, one fundamental drawback of a laissez- faire economy would be the handling of competition. As private sectors become greedy, the allocation of resources becomes inefficient as the focus shifts to the private sectors interests rather than the consumers. Therefore, the deceptively simple tactics implemented by companies in free markets should not be taken lightly as it is often part of a long term strategy that has a strong possibility of creating harmful competition and a monopoly.

After reading this blog by Jenny Ye, I felt inspired to apply the fundamentals of Corporate Social Responsibility in my future business endeavors, even for just a regular job. I agree completely that “just because a company isn’t obliged to support a social cause doesn’t mean that it shouldn’t”, as social goals can be equally as important as financial goals. Companies which have set values and beliefs should not only use that as a marketing gimmick to garner more sales and appease social organizations, as it will not benefit the company in the long run. With growing concerns over Corporate Social Responsibility and ethical trading, consumers are starting to make more informed decisions regarding their consumptions. And with the growth of local businesses which support local communities and fair trade, bigger companies should start taking a hint and actually implement their values and beliefs.

Source: https://blogs.ubc.ca/jennyye/2011/11/24/blog-response-2

Apple’s products are most famous for one thing which is their design. So much of Apple’s success are due to its product developments which are extremely unique and stand out from all the other products in the market. But what goes behind the design process of Apple’s incredible products? The answer for this would be its people; its design team to be specific. The company’s culture is deceptively simple which is its innovation and creative culture. Apple’s team is a very tight knit team that works together and work very hard as well. Each product that is being launched must undergo ten different mock ups which is eventually narrowed down to 3, and finally experimented for a couple of months until a strong decision is made on the final product. Constant meetings every week between design teams are held which encourages team work and lets ideas flow, which is a rare quality that is found in most big companies where “barriers” are often felt in between teams. I believe that this is one of Apple’s key successes as they have stuck to the one thing which holds a company together: Its people.

Class 16- People, teams and culture

Source: http://www.businessweek.com/the_thread/techbeat/archives/2008/03/apples_design_p.html

In 2006, Apple and Nike worked together to create a sports kit which can track and monitor people’s health and fitness levels. The sports kit consisted of a small wireless device which was attached to the shoe which sent data to the ipod about the elapsed running time. Now, the new ipod nano is designed in such a way that the user does not need to attach any device onto their shoes. The data is immediately recorded onto the ipod and can be uploaded onto nike+ which is a website which allows users to upload their data and track their progress. This integration is a strategy for both Apple and Nike as both companies are looking to expand their markets by constantly innovating and attracting new consumers. The market for health devices is crowded with competitors, so a strong partnership with a high tech integration for such big names as Nike and Apple will be able to attract consumers away from alternate forms of fitness monitoring devices as well as increase their current target markets.

(9- Oct. 6 Bus. Planning &Strategy)

(http://mobihealthnews.com/13608/new-ipod-nano-offers-easier-nike-integration)

Streaming movies online and being able to buy or rent movies through the web has been strong uprising trend which has encouraged the rise of online streaming services such as Netflix and Hulu. Paramount was last seen experimenting with online streaming by streaming Transformers 3 directly to customers for a low price of 4.99 the same time as the dvd release. Paramount has partnered with Microsoft in order to enable the online streaming, which will allow consumers to watch in HD as well. The cutting of middle men in distributing their blockbuster will enable Paramount to keep more profits as well as observe consumer reaction in order to see if streaming their movies independently will be a worthwhile to continue in the future.

(8- Oct. 4 IT and Info Sys.)

(http://www.reelseo.com/online-streaming-movies)