As a successful established fast food franchise, Tim Horton understands “time is money.” They recognize the fact that there are only a limited number of rush hours each day and thus they need to make the best use of the time. While this fast food restaurant already provides the fastest drive through service, Tim Horton’s goal “is to move customers through the drive-through every 25 seconds” (Strauss). By reviewing the company’s business systems, procedures and processes, Marc Claira, the new chief executive officer of Tim Horton is planning to reduce some variety of donuts while introducing healthy milk-based and juice-based beverages. In my opinion, this is definitely an appropriate approach because giving customers too many choices may lead to slow service. For example, it usually takes me a couple of minutes to purchase a dozen Timbits because there is seriously a ton of flavours to choose from. If Tim Horton effectively enhances its existing procedures and processes, they are likely to save time and money. Additionally, the new system will allow employees to engage with customers more frequently and efficiently, thereby increasing customer satisfaction and sales!

Bibliography:

http://www.theglobeandmail.com/report-on-business/tim-hortons-vows-faster-service-to-fend-off-rivals/article14357952/

This year, Google has been ranked No.1 in Fortune’s latest annual list of ‘100 Best Companies to Work For.’ Wondering why? Perhaps it is because Google has one of the most interesting organizational cultures.

#1     Google maintains a casual and democratic atmosphere. Healthy snacks and drinks are offered at the cafeteria to keep employees going throughout the day.

 #2     The organization emphasizes on forming family bond. Teams are made up of members with equal authority thus autonomy is maintained.

#3     Activities such as yoga, dance, gyms, pool, roller hockey and massage are also widely available for employees.

#4     Google offers its employees benefits such as medical insurance, retirement savings plans, travel insurance and much more!

#5     Google’s employees are given the freedom to make decisions that benefit Google users.

Since Google’s organizational culture is very strong, the company typically hires people that embody their company’s values. By doing so, employees are motivated to work towards the same goals and intensifies the bond that they share. As a result, it is no doubt that Google tends to have a low turnover rate.

Do you want to work for Google?

Bibliography:

https://www.google.com.hk/about/jobs/lifeatgoogle/benefits/

http://money.cnn.com/magazines/fortune/best-companies/

http://suite101.com/a/google-the-worlds-most-successful-corporate-culture-a242303

As noted in Curtis Chao’s blog, “the social media giant Twitter has grown tremendously throughout the seven years of its existence.” The primary services provide by the site are micro blogging and social networking along with the facility of “tweets” for its users. While the site consists of “more than two hundred million active users around the world,” it also generates “ten times the revenue from three years ago.” Twitter is undoubtedly a competitive social media platform. Curious to know more about the organization, I’ve developed a simple SWOT analysis.

Although Twitter has noticeable strengths, the organization still faces numerous of threats. While technological companies are constantly enhancing their features, who knows if Twitter will still be the best site for micro blogging 10 years later?

Bibliography:

http://techcrunch.com/2012/12/09/it-appears-that-instagram-photos-arent-showing-up-in-twitter-streams-at-all/

http://blogs.ft.com/tech-blog/2009/04/twitters-low-retention-rate-could-limit-growth/?Authorised=false

http://www.statista.com/topics/737/twitter/chart/1098/distribution-of-of-tweets-among-twitter-users/

After months of waiting, BlackBerry Ltd finally launched its BlackBerry Messenger (BBM) to users of smartphone devices including Android, Samsung and iPhone! This service provides a platform for previous BlackBerry users to reconnect with their long lost BBM buddies.

While BlackBerry used to be the dominant player in the smartphone industry, the rise of the iPhone and more affordable Android phones rapidly took over its position in the competitive market. Additionally, with the arrival of IM services like WhatsApp, Line, and WeChat that work across different devices, it seems like the world of BlackBerry is coming to an end. Nevertheless, BBM, which functions similarly to Apple’s iMessage remains popular to this day and now, the app is FREE to download. Although it is a good approach to raise brand awareness, will a customer purchase a BlackBerry device now if its only attraction, BBM is free to download on an iPhone?

Here is a short video about BBM re-appearing on multiple platforms.  BBM

Last class, we were extremely fortunate to hear from Nolan Watson, the CEO of Sandstorm Gold. At just 34 years old, Nolan is already a successful entrepreneur in the mining industry. After specializing in accounting from Sauder, he rapidly worked his way of becoming the CEO of Silver Wheaton. Unwilling to stay at his existing position, Nolan again challenged his inner potential. He left Silver Wheaton in 2009 to start up his own business, Sandstorm. Despite many uncertainties, Nolan’s resolute spirit for achievement provided the motivation to prevail. He knew he had to “chart” his own destiny and within years, his company was steered on the New York Stock Exchanges.

Sandstorm Gold is a very interesting business. The company makes up front payments to the miners for which they receive a portion of the mines gold production at a fixed cost per ounce. That means, Sandstorm does not have to pay any costs associated with building the mine nor will be impacted by inflation.

An inspirational message that I took away from Nolan is “Never Give Up.” As Nolan states, “It’s a cliché but it’s a cliché for a reason.” We are unable to avoid the inevitable but with determination, a sense of purpose, and a professional demeanour, we can achieve the impossible.

Walking away from the lecture on financial accounting last week, I recall Robert Kiyosaki’s education novel, “Rich Dad, Poor Dad” instantaneously. According to the author, the primary principle that separates the rich from the poor is that the rich “knows the difference between an asset and a liability”.

The definitions of the two terms that I noted in class are:

• An asset is a resource that one owns and has future values.
• A liability is anything that one owes.

Sharing similar ideas, Kiyosaki defines these financial terms in an interesting way:

                  “An Asset is something that puts money in my pocket. A liability is something                          that takes money out of my pocket” (58).

Having a rental property is an asset because the tenant must pay you, the landlord the amount of rent agreed on a timely basis.

Despite its glamour, owning a mansion is a liability in the long run.  Not only do you have to carry heavy mortgage payments, but you also have to pay higher property taxes, electrical bills, heat and other additional fees to support your mansion.

Want to learn more about finance and how to retire rich at a young age?

READ the “Rich Dad, Poor Dad” series by Robert Kiyosaki!

Reference:  Robert Kiyosaki ‘s “Rich Dad, Poor Dad”

After reviewing Victoria Yang’s blog in regards to the ineffectiveness of Facebook advertisements, there are a couple of reasons why I believe this marketing strategy might not work to some companies.

1) It is extremely difficult for a company to target and piqued their potential audiences’ interests. Why? That is because Facebook is one of the most popular social media platforms with approximately 1.15 billion users in total! Although its targeting filters enables a company to restrict any of their ad’s target audience based on information that the user provided in his or her Facebook Profile, specific Pages, or Groups, these filters do not apply to users searching on those terms.

2) The advertisements are not engaging or have little interaction. In other words, Facebook users are not likely to click on an unattractive advertisement when they are surfing on the web; they tend to focus on socializing.

Another existing problem is that people are not always searching when they are on Facebook. I assume there is more demand for ad inventory that can be met with the search engine marketing.

Although Facebook advertisements might not be effective, it is indeed another alternative for advertisers to reach out to vast public and create awareness of their products and services.

Within days of releasing its latest phones-the iPhone 5s and iPhone 5c, Apple issued a press revealing it sold in total over 9 million units during the launch weekend of its new products. Not only does the iPhone 5s was reportedly sold out in retail locations rapidly in North America and China but its related shipping dates at Apple Store websites also quickly slipped into late October and early November around the globe.

Apple’s newest iPhones have also broken sales records previously set by the iPhone 4S and iPhone 5!

Check out the following video:     iPhone 5c, 5s Sales Set Record

According to Localytics, a mobile and web app analytics firm, “new handsets account for nearly 1.5 percent of all iPhones in the United States.” With that in mind, Apple earned approximately $5 billion from its iPhone 5s and iPhone 5c alone, excluding revenue from its other product lines such as iPad and MacBook.

On the other hand, the once smartphone giant, BlackBerry has agreed to sell to Fairfax, its largest shareholder for USD $4.7 billion. In other words, Apple’s revenue in one weekend is parallel to what BlackBerry is currently worth!

Reference:

http://o.canada.com/technology/personal-tech/apple-earned-more-money-than-blackberry-is-worth-in-one-weekend/

“Enjoy Coca Cola!”

 In 2012, Coca Cola’ advertising expenses accounted for more than $3 billion. In order to increase the company’s sales and brand recognition, Coca-Cola expenses production cost on print, radio, Internets, and television advertising.

HOLD ON…

Who does not know about Coca-Cola? Since it is arguably one of the most recognizable brands of the 21^st Century, why does Coca-Cola still advertise?

Coca-Cola never failed to stay on top of mind awareness in the soft drinks industry because the company understands as part of the marketing tool, advertising is very important in an organizational structure. The firm also comprehends the fact that its typical commodities can easily be replaced by another brand’s similar product, such as Pepsi or Sprite.

With this idea imbedded in mind, there are few fundamental reasons that even the “Big Giant” needs to advertise:

1. To maintain “top of mind awareness.”
2. To secure the next generation of consumers.
3. Adapt to changing consumer behaviours.
4. To consolidate or possibly expand its market shares.
5. Continue to build consumer loyalty.

While the brand continues to vastly advertised in the mainstream media, a consumer will always remember the presence of coke whenever he or she attempts to reach for another brand’s soft drinks.

Reference:http://www.theawsc.com/2013/08/28/why-big-brands-like-coca-cola-still-need-to-advertise/

While the ideology of capitalism sweeps across the globe and dominates competitive markets by the end of the 19^th century, addressing to business ethics is no longer negligible.  Since humans are capable of abstract thoughts, our behaviours often blur the very fine line between what is right and wrong.  In other words, should a company strive in doing what is best for the profitability of the business even when the actions are consider unethical?

Nike, the world’s leading sportswear franchise is an example of a multination corporation that faced ethical dilemma.  Some of the controversial issues within the organization include the use of child labor in Nike’s Asian factories, minimum wage violations, and poor working conditions.  Although Nike might argue that some of these actions are necessary for its survival in the competitive business world, its brand image and sales have been affected negatively due to the unethical business behaviours that have been performed.  Upon realizing the potential harms to its shareholders, Nike should practice corporate social responsibility such as treating their employees fairly and ethically.  By doing this, Nike is essentially fulfilling its own principle, “Just Do It”.

Ultimately, if a business is able to establish a meaningful relationship with its shareholders, allowing them to recognize that they are being taken care of and that the company’s only motive is not profit, the corporation is likely more profitable in the long-term.

Sources:

http://www.businessinsider.com/how-nike-solved-its-sweatshop-problem-2013-5