Monthly Archives: November 2013

The First Social Network

Posted on by
Reply

In her post on Forbes, Paula Rosenblum discusses the success of QVC. QVC, which stands for “Quality, Value, Convenience”, originated as a television network that specializes in selling products to consumers in the comfort of their own homes. Their television broadcasts, which they use to market their products, feature live testimonies from customers that call-in. Customers are given the opportunity to hear someone else’s personal experience with a  product before buying it. Regardless of whether or not a potential customer’s taste will match that of the one giving his/her opinion on the product, the fact that he/she already bought the product makes their testimony feel credible.

I agree with Paula Rosenblum’s argument that QVC could be considered the world’s first social network. QVC has been able to cultivate a loyal customer base by creating a social experience for shoppers. Although that shopping experience may not be as personal as one provided by Facebook or Pinterest (which is created with feedback from a customer’s friends), QVC’s  success can be attributed to their efforts in generating community engagement

Snapchat: No revenue…High value?

Link

Reply

I was browsing BusinessWeek when I found this video about Snapchat, a smartphone application that has gained significant popularity over the past year. According to the video, the owners of Snapchat turned down Facebook’s offer of $3 billion to buy the photo-sharing app. Their rejection of Facebook’s buyout offer made me wonder how Snapchat even made money. After finding this article on ABC News, I learned that Snapchat actually has no revenue streams at the moment. The company is running solely off of money raised from investors, which will eventually deplete. Although Snapchat has been able to amass a significant following, they need to find a way to generate revenue.

I feel that selling advertisements is not an effective way of making money through the app. People who use Snapchat often want to quickly capture a candid moment, so showing an advertisement for even a brief moment would have a significant effect on the user’s experience. I believe that the most viable way for Snapchat to make money would be to sell the company. Although I support their decision to decline Facebook’s offer of $3 billion, the owners of Snapchat should sell soon, because the app’s popularity will eventually fade.

8 Disputable Reasons Why We Don’t Need Offices

Posted on by
Reply

http://www.forbes.com/sites/jacobmorgan/2013/10/01/8-indisputable-reasons-for-why-we-dont-need-offices/

I was browsing the Forbes website, and this article caught my interest. Jacob Morgan offers 8 “indisputable” reasons why modern businesses no longer need an actual office building. While I agree with most of the points made in the article, Morgan’s assumption that employees are more productive at home is debatable. Since work environments and how employees behave in them vary greatly, the point oversimplifies a complicated issue. Whether an employee is more focused working in an office or at home depends on that workers’ tendency to lose focus and the amount of distractions in the office and the home, respectively.

I believe that physical office spaces will remain an important part of businesses for a long time. Although recent technological advancements have made “telecommuting” a viable way for employees to work, there is no actual substitute for face-to-face interaction. When I Skype my parents, I can hear their voices and see their faces, but it still feels different than spending time with them in person. Also, it would be inappropriate to negotiate formal agreements through a screen or a microphone. Personally, I would not like to be fired or promoted over the phone.