Month: October 2011

Reading through the CNN business articles, this article immediately caught my attention because I’ve noticed that China plays a huge factor in the world economy for their manufacturing of goods.

The country always ran across to me as a “low-cost-manufacturing” site, not much as a place to start up a business but after reading this article, it made me realize how cultural and strategic factors come into factors in building a successful business model in China. However, the article emphasizes how China is growing it’s attraction to be a business site for many, and that because of the area and the culture that is embedded within the country, it is essential to know of couple points that you should take into account before starting a business there. This article talks about the importance of knowing the mosaic of markets, business culture and etiquette, market-based approach, patience, and about building a solid local team.

 1) Mosaic of Markets
China’s sprawling population of 1.3 billion people makes it a highly diverse market. The country itself is more of a mosaic of cultures, and the companies have to remain flexible and innovative in deciding what kind of market their product would fit into. The more specific market you target, and the more distinct your product is from others, the more successful you are likely to be in the Chinese market.

2) Business culture and Etiquette
You need to understand China’s business culture and social etiquette to prevent misunderstanding that would possibly harm your working relationships. The article emphasizes the concept of “face” which is the image that you give off to your business partners. Attending meetings, accepting invitations, providing suitable expensive gifts is couple of things that you can do to give positive “face” to the partners. Acts that are show lack of self-control and weakness is detrimental in developing a professional “face” in the field, and you need to treat people with respect at all times, whoever you are dealing with.

3) Taking a Market-based approach
It is crucial to be aware of local preferences and adapting your product to the chinese community. Because of the distinct culture that China has, it is important to tailor those values and life-style to your products. No matter how great your product is at the origin, the product really needs to be in context of China for it to attract consumers

4) Procedures in China Take time, patience and money
Success in China takes time, patience and lots of resources. It is important to look forward in meeting the demands and trends that are going to come in the future, and to find ways that is going to match the future china through looking at current characteristics of China.

5) Build a strong local team
Surrounding yourself with a local talent that can help you break deals, understand the culture and complexities of the market is crucial in having a successful business in China. Even if you have adapted the values and culture of the country, you can’t possibly know it better than someone who has grown in the country.

http://edition.cnn.com/2011/10/21/business/china-business-investors-culture/index.html

Watch Video: Apple – Introducing Siri on iPhone 4S

Lots of people were disappointed when Apple introduced it’s most updated product IPhone 4S to the world. Many assumptions about the new product circled around the topic as some were expecting a ground breaking design that was a mix of Android and Apple, so when the product was released, many were disappointed. What makes it different? Apple announced that IPhone 4S has included a revolutionary system of Siri that allows you to use your phone by commanding vocal orders. While many found this to be disappointing, the statistics of million phones being booked within 24 hours of released showed that there were many customers out there who were keen to get the new product.

Are costumers attracted to the product for the “revolutionary” system of Siri, or is it for attaining the most new Apple products? Apple has been revolutionary in the IT technology with it’s sleek design and convenient apps that it provides, but compare to the advancements that it has made to it’s products before, Siri seems to be a dissappointment. The voice-over tech has been introduced before in Android phones, and I personally don’t think Apple has come up with a “wow” factor that is innovative enough to give costumers enough reason to buy the newest products.

http://www.theglobeandmail.com/news/technology/tech-news/apple-books-a-million-iphone-orders-in-24-hours/article2196807/

One of the largest Airline service Air Canada is caught between the dispute of staff in revolt, versus costumers demanding lower fares. The root of the conflict kindled when the Airline introduced a new plan to create a low-cost division, hiring up to 1400 staff at reduced wages in return of discounted fares on leisure routes areas such as Europe, Asia and Mexico. The workers felt threatened that this new plan would threaten their wage and job security which resulted in a plan of 6800 walk out staff. However, Air Canada’s new plan was essential in the growth of the company as customer demand for cheaper fares was increasing, but now they were faced in making a trade-off of retaining their staff or losing costumers to other airlines.

It is essential for Air Canada to retain good relationships between it’s workers. Even if it were to lose it’s costumers due to it’s airfare cost that fails to meet costumer demand, the airline wont be able to operate without it’s staffs. With controversies about the unfair treatment that the airline workers have received from Air Canada, I think it’s essential for them to regain the positive relationship it had with its workers. With better worker satisfaction, Air Canada could be reputed as an airline with the best on-air service which could contribute positively in solving the fare problems.

Article : http://www.theglobeandmail.com/news/politics/air-canada-caught-between-employees-and-customers-in-labour-dispute/article2196420/

Movie fanatics were enraged when a popular movie-streaming website Netflix proposed to separate three cost of it’s DVD-by-service from online streaming service. Netflix Head Executive, Reed Hastings introduced the idea of creating a stand-alone DVD service named “Quickster” and proposed that the two separate distinctions in services would result in two different billings as well. Once peaking company Netflix experienced a lost of 1 million subscribers because of this new plan, and the share value of the company was dropping at an alarming rate of 16% a day.

One of the worlds most influential man, Steve Jobs, the founder of Apple, passed away on Oct 5th 2011 after battling with pancreatic cancer for 7 years. His influence in IT technology in the 21st century has shaped the world in a way that advanced people’s lifestyle in a revolutionary manner, and it is not an overstatement to say that he has touched the lives of everyone’s live in some way.

The biggest challenge for Apple is whether if it’ll be able to carry out Steve Job’s Vision without his presence.  Losing lose such a visionary innovator at a young age of 56,  lots of attention has fallen on Tim Cooks who is confirmed to carry on the Apple legacy. He has assured his employees by saying “I want you to be confident that Apple is not going to change, however many doubts exist around the topic as Steve Jobs was truly a revolutionary leader.” With a record-breaking, highest-valued technology company on his shoulders, Tim Cook is expected to carry out Job’s visions for Apple and more.

I think a revolutionary leader such as Steve Job’s work is not going to dwindle just because of his lack of existence. Apple has grown as a company at an stunning rate with its innovative products and ideas over a decade, and it is at the peak in the IT business. Many have spoken how Steve Job’s death was the start of the fall of Apple, however, although he was the leader, I don’t think Apple would fall that easily. Under Jobs, there were many brilliant minded marketers, innovators etc under him, and I believe those people were the main figureheads running the company. Replacement of Jobs possibly might lead Apple to take different approach in marketing strategies and whatnot, but I believe Apple will never cease to innovate life-changing products in the future.

http://money.cnn.com/2011/10/07/technology/steve_jobs_succession/index.htm

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