Remember the days when people actually went to the store to purchase items? Me neither. I have already talked about companies switching their marketing tactics and taking an online approach in advertising their product. However, this has gone beyond the scope of just marketing because now you can even purchase any item you want from the comfort of your home. There is no need to drive 30 minutes to the nearest mall because now you can browse on the company’s website and see everything they have in stock, from what sizes you need to what color you are looking for. Many people would say this has made life much easier and has changed the world for the better. In my opinion, traditional shopping holds more value then just purchasing an item. For me growing up, going to the mall was the one thing I looked forward to every week. Just the excitement of leaving the house and having an outing with my parents was a huge deal for me. Traditional shopping was a time for bonding with loved ones and sharing fun experiences with them. I do agree, that online shopping has made life a lot simpler and I myself have shopped online various time. However, it has made us humans a lot lazier. Technology is on the rise and so is obesity. Humans have reached an all time high of obesity and this will continue to increase as technology continues to reduce human effort. Although the world continues to change with technology and we must adapt to it, I do believe traditional physical shopping holds much value and that there should be a balance between the two.

Work Cited:

http://www.atechnologysociety.co.uk/has-online-shopping-made-life-easier.html

Pictures:

http://www.triposoft.com/indian-online-shopping-sites/

http://www.a-1re-designers.com/online-shopping-benefits/

One of the biggest news not just in the business world but the world in general thats been taking over all of media; Canada along with 11 other Asia- Pacific countries have signed an agreement known as the TTP(Trans-Pacific Partnership), which allows free trade amongst these 12 countries. This is the biggest trade agreement in the world to have ever occurred.

In my opinion, this agreement could be very beneficial for Canada. In contrast to NAFTA, the previous trade agreement between Canada, the US and Mexico, TTP benefits Canada on a larger scale by providing consumers and producers easier access to 9 additional global markets, allowing us to freely trade goods with them without any additional taxes. Also, prices for expensive goods such as vehicles from Japan, will decrease for consumers in Canada. I find that very convenient since Japanese cars are the most common in Canada and also because I am looking to purchase a vehicle soon! In addition, since other countries don’t pay tariffs on goods from Canada, they will be willing to import more goods from us, thus helping the Canadian economy. Ultimately, Canada gains a competitive advantage over its rival countries that are not part of the TTP and are still subject to existing tariffs. This new agreement is a huge step for Canada that will greatly impact the economy and all the people in it.

Works Cited:

http://www.theglobeandmail.com/report-on-business/international-business/what-is-tpp-understanding-the-new-pacific-tradedeal/article26648948/

Pictures:

http://www.montrealinternational.com/en/blog/the-trans-pacific-partnership-key-to-attracting-more-foreign-investment-to-greater-montreal/

One of the topics we discussed in Comm101 was CSR and sustainability, which I found was really important in running a business. As I was going through some external blogs, I came across an interesting blog about sustainability in the television industry. I found this interesting because I had no idea that there would be a need for implementing an environmental sustainability plan in this industry, because how much could they be possibly harming the environment by recording TV programmes? Apparently, more than we think. According to this blog post by Aaron Mathews from the Guardian, the television business accounts for 2% of global emissions, which is the same amount as the greatly criticized aviation industry. Although it seems quite small, I was surprised to see this number.

To deal with this issue, Albert+ was introduced by the industry sustainability group, which is just a plan to motivate production companies to reduce their carbon footprints. Many companies have already started to make their sets more sustainable by using cleantech generators, and cutting down the use of lighting and paper. They will also add the Albert+ logo next to the credits of their programmes for people to witness the goal they are trying to achieve. I think that these companies leading by example is a great way to raise awareness for this issue in our society, seeing how they impact the lives of many individuals who watch their television programmes and are able to view their efforts in refining our environment. This in turn, can inspire thousands of people to follow in their footsteps and make choices that are more environmentally sustainable.

Works Cited:

http://www.theguardian.com/sustainable-business/blog/2014/oct/28/tv-bbc-itv-sky-sustainability-mark-carbon-albert

Pictures:

http://thegadget.reviews/free-pay-tv-channels-kenya/

http://www.scalefreeintl.com/Sustainability.aspx

Looking at Selina Yang’s blog post about drake’s hotline bling video and how the attention it received affected the jacket sales of the company, Mocler (the jacket he wears in the video), immediately reminds me of Nike and their use of celebrity marketing. In her post, Selina talks about how this can be a positive thing and collaboration between a celebrity and a firm can benefit both parties. The celebrities can gain more recognition and earn some big bucks while the companies can also gain recognition and increase their customer segments. A huge example of this is Nike signing a deal with LeBron James in 2003 when he first started in the NBA for an estimated $90 million deal for 7 years, and in return he has provided Nike with a revenue of $340 million in the last 12 months with his endorsed products. This is just one example of the many deals Nike has lined up with several sports stars from a variety of different sporting leagues. Nike has contracts with Michael Jordan (basketball legend), Tiger Woods (golf), Rafael Nadal (Tennis), Christiano Ronaldo (Soccer) and many more. By signing deals with big names in the sporting industry and diversifying their clients, they are ultimately expanding their customer segments by attracting sports fans from around the world and giving themselves a comparative edge over their competitors.

Works Cited:

http://www.forbes.com/sites/kurtbadenhausen/2015/03/18/lebron-james-is-nbas-top-shoe-salesman-with-340-million-for-nike-in-2014/

http://www.tsmplug.com/richlist/nike-highest-paid-endorsement-deals/

Good intentions don’t always yield good results. This statement is depicted by the business model of Toms shoes. Although Toms intentions may be good in following the one-for- one business model, I don’t quite think it provides the best outcome for society as a whole. The only party that benefits with this in the long run, would be themselves.

I myself, like everyone else, believed that this was a brilliant idea that supported a good cause and provided a solution for one of the biggest problems in third world countries. Toms was able to do good and make profits at the same time. So if this is a win-win situation, how would anyone be worse off?

Perhaps this model does more good to their financial statements than it does to society. By giving a pair of shoes to those in need of them, Toms may be helping these people in the short run, however this does not solve the major underlying issues of poverty and lack in economic development in these third world countries. Someone might think, “Even if they aren’t being super effective, no harm could come from being generous, right?” Wrong. This is because people start relying on these free shoes and therefore stop purchasing goods from local stores. This, in turn, has a negative effect on local businesses and the economy, which is why these countries remain in the same state and are prevented from growing. That being said, not only does Toms’ good intentions not yield good results, but instead has an overall negative effect on the world. For this reason, I am against the one-for-one model.

Works Cited:

http://www.fastcoexist.com/1679628/the-broken-buy-one-give-one-model-three-ways-to-save-toms-shoes

http://blogbydonna.com/toms-gives-back-setting-an-example-for-all-oneforone/

We live in an era where kids learns how to play games on a phone, before learning to play with their toys. Every person you meet has either Facebook, Twitter or Instagram and in today’s time, business meetings can be done over a computer screen through Skype or FaceTime. Social media is taking over our lives whether we like it or not, and can often be seen as negative thing.  However, at the same time there are people who can use this fact to their advantage, just like what the online business, Shredz, did. In class, we have talked about the marketing aspect of business and how firms promote their products to the world. Much of today’s marketing is done through social media, as businesses are also picking up on the fact that social media and the internet are the future. Similarly, Shredz, an online supplement company, has found much reward through their success in social media. Their biggest form of marketing is their Instagram account.  By hiring models and bodybuilders to advertise their products via Instagram, this once no-name company is now a multi-million dollar company, and only within 10 months. Shredz’s entire business model is based around its ability to market its product through means of social media. This showcases the importance of business marketing, when done the right way, and the enormous role it plays in the success of a business.

References:

http://www.businessinsider.com/28-yr-old-built-a-business-on-instagram-2013-10

Picture Reference:

http://www.shredz.com

When eating a banana in the morning, do you ever think to yourself, “I wonder if the company supplying these bananas follows good business ethics?” One of the biggest suppliers of bananas and other fruits, Chiquita, tried doing just that, before being penalized for being ethical in their business. In order to become a more sustainable and ethical corporation, Chiquita bent to the will of social activists and environmentalists that protested against the use of oil from the tar sands due to their dirty extraction process. Creating this type of space for many activist groups must’ve been a huge step for the company that had a positive impact, right? Wrong. Despite of all of Chiquita’s endeavours to promote ethical business, it was not successful in gaining recognition for it. Instead, the company angered many Canadians who made a living from the Canadian oil industry, thus causing boycotts against the company leading to heavy losses. For the reasons Chiquita hoped to gain positive recognition, it now faced massive losses in revenue and gained hatred. In my opinion, not only does this response affect Chiquita, but also the many other firms who read about this and are discouraged to remain ethical in their own businesses because they can see no benefit in it. As students, we learn the importance of business ethics and standing by your principles and morals, but reading this article makes you realize the difficulty of standing by your values and still succeeding in the business world. However, I do not believe doing so is impossible. Chiquita is a company hindered, but not abolished, and the example they have set forward may urge other entrepreneurs to follow their moral compass. In the words of Chiquita’s chief executive, “We can do good and do well at the same time.”

Sources:

http://www.economist.com/node/21551500

Picture source:

http://abcnews.go.com/Business/chiquita-merger-means-us-banana-mellon-pineapple-prices/story?id=22847554

As new technology continues to revolutionize the world, it is not a surprise that the farming industry is also evolving with the help of technology.The stereotypical image we see in our heads when thinking of farms, the big long fields and red barn, will no longer be a reality. Instead we can now start picturing a big facility full of aisles of vegetation and LED lights. Located on the outskirts of Montreal, Urban Barns has built what they call the world’s first commercial “cubic farm.” With the use of LED lights and various other technologies, this so- called farm grows several types of vegetation without the use of pesticides, herbicides or fungicides, and supplies them to local hotels and chefs. With this technology they can grow crops year round without being affected by diseases, pests or year round weather. This type of business model gives Urban Barns a competitive advantage over its traditional farm competitors. Not only are they promoting safer and healthier means of  farming, but they also save money by cutting out labor costs, as machines automatically feed and water the crops on a timely basis. It is a “much cleaner” way of farming says a farming veteran and according to Urban Barns’ website, they use 94% less water than traditional farming methods. This sort of environmental sustainability benefits 0ur planet, but also boosts the reputation of Urban Barns in the market. Many people are starting to buy into this concept as it efficient for farm owners and provides higher quality products to its consumers.

References:

http://www.ctvnews.ca/business/future-of-farming-montreal-area-operation-grows-crops-indoors-year-round-1.2594372

Picture reference:

http://agoracom.com/ir/UrbanBarnsFoods/forums/discussion/topics/644284-urban-barns’-cubic-farming-seeks-to-change-the-future-of-urban-farming-one/messages/2021960

A small startup company based in Vancouver that wasn’t satisfied with selling its product in retail stores, tried a different approach in their business by applying the direct business model. Peekaboo Beans was created by Traci Costa, who wanted to make children’s clothing more comfortable and convenient for parents. So, she started her business by supplying her clothes to small boutiques in Vancouver. After little success in doing so, Costa realized she could better grow her business using a direct business model which would bring her a higher return. In class, we recently discussed the topic of  operations and direct business model.  A big example we talked about that also uses this model is Dell. In ways similar to Dell, Costa replaced all of her retail stores with an army of consultants who would sell her product. In this way it was easy for Costa to grow her brand, rather than selling her product through clustered shelves. The number of direct sellers is up 17.8% over the past few years, while global direct sales have increased 20.8%. These numbers prove that a direct business model is indeed effective and are good for startups to expand their market.

References:

http://www.canadianbusiness.com/innovation/peekaboo-beans-direct-sales/

Picture Reference:

http://www.mommylicious.ca/exhibitor/peekaboo-beans-0