Giannis Antetokounmpo, the 22-year old superstar of the Milwaukee Bucks basketball team.  On the court, fans call him “The Greek Freak,” but Bucks president Peter Feigin believes that he’s more than just a great basketball player.  Feigin believes that Antetokounmpo will not only lead the Bucks to the championship, but he will also pave the path for Milwaukee to become a financial power in the US.  The Bucks front office has already begun building a championship roster with Antetokounmpo as the centerpiece.  By developing his current players, and acquiring new talent, Feigin wants to create a winning basketball team that will not only dominate the NBA, but will be a household name in all of US sports as one of the industry’s biggest businesses.

To support the sports culture in Milwaukee, the city is also building a new stadium for the benefit of all Milwaukee sports teams, with the Bucks at the forefront of benefactors from this drastic change.  Feigin claims that “the stadium will also create a ripple effect in increasing nearby commercial and residential values,” meaning the financial value of all Milwaukee properties will increase tremendously due to the impending success of the potential-filled Bucks squad.

As a huge basketball fan, I can say with absolute certainty that the Bucks are going to be competing at the top of the league for the next 8-10 years barring any major injuries to star players.  As a business student, I can see how the success of the Bucks can bring the city of Milwaukee to a place of higher financial power.  I agree that the basketball accomplishments of the Bucks will certainly financially benefit the city because property in Milwaukee will have an additional selling point of “having a good sports team to cheer for,” subsequently raising the value of the property in Milwaukee. 

With 60% of Americans considering themselves sports fans, it’s obvious that sport culture has a massive impact on Americans.  The influence of basketball on American sport culture is almost unmatched as it is the fourth most popular sport in the country, just behind football, baseball, and auto-racing.  Historically, big-name cities in the US have also been accompanied with great basketball franchises like the Lakers in Los Angeles, and the Knicks in New York.  With this logic, the success of the Bucks could indeed propel Feigin’s vision of Milwaukee in the future to take the step from dream to reality.  As a basketball fan and a business student, I’m excited to see both Antetokounmpo and Milwaukee rise to stardom together.

– 421 Words

References:

http://www.bbc.com/news/business-41481040

http://www.nba.com/article/2017/11/07/report-milwaukee-bucks-nearing-deal-eric-bledsoe-phoenix-suns#/

http://news.gallup.com/poll/183689/industry-grows-percentage-sports-fans-steady.aspx

Ranking The Most Popular Sports in America

Customer service is an integral part of any business, and it is often a make-or-break point that determines the size of the customer base for a business.  An article on Chron talks how vital customer service is to the success of any given business.  The author, Suttle, speaks of how customer service handles all consumer-related issues for a company and how it would be almost impossible for a company to survive without customer service.  Customer service is the only connection between the customer and the company, therefore it leaves a lasting impression on the customers.  Oftentimes, customer service is a big differentiating factor between companies in the same industry.  Companies are more likely to retain customers if their customer service is better.  Good customer service also leads to more publicity through word of mouth, the cheapest way of advertising, and prevents complaints from customers. 

An external blog from Nextiva gives four tips on how to make customer service a strength for any company.  First, customer service needs to be weaved into the fabric of a business.  It needs to be treated as a part of everything in business, not just a sub-section of a business.  Second, developing genuine, personal relationships shows the customers that a business cares about them and not just their money.  Thirdly, anticipating customer needs’ helps business build connections with people.  This leads to a business retaining their customers.  Lastly, companies must treat their employees well because happy employees provide better customer service.

Personally, I believe that customer service is the most important part of any companies for the reasons listed above.  A company’s customer service is always a key factor for me when deciding which companies I choose to buy from.  Because of my personality, I’m inclined to support people that I know will support me in return.  As said by an external blog from SuperOffice, the most successful businesses are the ones that look at their business from the customers’ perspective.  I know for a fact that one of the most important things needed to maintain a business is the customer base.  Any business that wants to expand and grow in the future must continue to enlarge their customer base.  This can only be done by catering to the needs of the consumers and giving them what they want.  Having said that, I believe that the tips from the Nextiva blog are very accurate.  Because I’ve been a consumer my whole life, I always look at businesses from the customers’ point of view and I can confirm that good customer service is what draws me to continuously support a company.

-442 words

References:

https://www.nextiva.com/blog/4-ways-to-make-customer-experience-your-competitive-advantage.html

http://smallbusiness.chron.com/customer-service-important-organization-2050.html

https://www.superoffice.com/blog/try-looking-at-your-business-from-the-customers-perspective/

https://industrial.omron.ca/en/services-and-support/customer-care

http://www.medwayllc.com/customer-service/

In the last six years, the residents of Palo Alto, a small town in the middle of Silicon Valley, have been struck with a major problem concerning their housing. Median home prices have increased by 103% and is now sitting at $2.486 million US.  Even with the respectably high average salaries that Palo Alto residents make, $2.5 million is still too expensive. 

An article on Business Insider speaks about how the best course of action for Palo Alto residents is to relocate by choice before they are forcefully relocated by the cost of living.  In fact, people are already doing that; people like Kate Vershov Downing are resigning from their jobs and leaving Palo Alto simply because the cost of housing is too expensive for them.  The residents are turning to the City Council for help, but the Council is more interested in making development plans for the future and the needs of the residents are disregarded as the priority for affordable housing continues to remain at the bottom.

Fellow classmate and blog writer, Estafania Millan Ronchetti also wrote about this article and had some very interesting comments.  She spoke about how the town of Palo Alto will eventually become an “investment ghost town” because people who rent are relocating and people who own properties are trying to sell their houses.  However, people who have the money and are willing to buy property are few and far between.  As a result, the population of Palo Alto will just continue to dwindle in the years to come. 

Personally, I agree with what Business Insider and Estafania are saying.  I can see that the housing is becoming too expensive and that the residents of Palo Alto cannot buy houses with their salary unless they get a massive loan or if they have a big inheritance.  By looking at the trend, I believe that people who are currently living in Palo Alto are better off leaving and relocating than staying in Palo Alto.  It seems like most Palo Alto residents will eventually be forced to leave and thus will have to go through the process of rebuilding their life in another place; It’ll be much easier to start a life elsewhere right now than to do it in the future.  I also believe that Palo Alto will indeed become an “investment ghost town” because very few people will live there and the property there will be nothing but assets for rich owners.  From this article it’s clear that despite the fact that Palo Alto is more technologically advanced than most of the world, the town may not be the future.

-439 words

References:

https://blogs.ubc.ca/emillanr/

http://www.businessinsider.com/its-time-to-get-out-of-the-palo-alto-housing-market-2016-8

https://www.payscale.com/research/US/Location=Palo-Alto-CA/Salary

For entrepreneurs, starting a new business can be intimidating because of the risk of failure.  Many decisions need to be made, but the first question is always who.  Entrepreneurs ask themselves: Am I working alone? If not, then who will I be working with?  When people are unsure, they tend to lean towards familiarity; in this case, entrepreneurs will want to work with friends. 

Starting up a business with friends has many benefits.  Working with friends sets a very comfortable working environment that everyone can feel and use as energy.   According to Fast Company, people are 12% more productive when they are in a happy environment and 10% less productive in an unhappy environment.  That’s a 22% difference in productivity!  Also, when working with friends, it’s smoother in the beginning since strength and weaknesses are already known.  This means that everyone will be working up to their full potential straight from the beginning, doing what they do best.  Personally, I find this problem particularly challenging in group projects. The lack of knowledge results in everyone having to do a little bit of everything as opposed to everyone just playing to their strengths and producing the best quality work possible.

Whilst there are many benefits, there are also some downsides when working with friends.  In business, often it’s about who you know and not what you know.  Working with friends generally mean that your network is smaller because you know the same people.  This translates to less connections being made and the business taking longer to bloom.  Another huge downside stems from the friendship itself.  It’s difficult to separate professional work from personal work; when working with friends, professional work is intertwined with personal.  Sub-optimal business decisions might me made to save a friendship, and that’s not necessarily what’s best for business.

When it comes to working with friends, Business News Daily suggests establishing roles and mapping everything out on paper to ensure a strong backbone for the business.  Furthermore, a post on The Blog Market talks about the need for communication, goals, and willingness for all business members to put in an equal effort. They claim that these are the core components of a stable business.  These two sources provide valuable tips for anybody looking to start their own business.

Personally, I prefer working with friends than working alone or with strangers.  Despite the downsides of a small network and friendship possibly leading to unfavourable business decisions, I firmly believe that the benefits outweigh the negatives.  The benefit of a happy work environment alone leads to increased productivity which is vital when it comes to running a successful business.

-444 words

Reference List:

http://www.businessnewsdaily.com/10218-start-business-with-friend.html

6 Things to Consider Before Starting a Blog or Small Business With a Friend

https://www.theglobeandmail.com/report-on-business/small-business/startups/the-pros-and-cons-of-going-into-business-with-a-friend/article14086769/?arc404=true

https://www.fastcompany.com/3048751/happy-employees-are-12-more-productive-at-work

https://img.purch.com/rc/816×500/aHR0cDovL3d3dy5idXNpbmVzc25ld3NkYWlseS5jb20vaW1hZ2VzL2kvMDAwLzAxNC8yNDcvb3JpZ2luYWwvZnJpZW5kLWJ1c2luZXNzLXBhcnRuZXJzLmpwZw==

In the news article on The Ethicist, someone discovers that their relative who runs a marijuana business has been committing tax evasion for almost two years.  After confronting the relative about the tax evasion, they had different viewpoints which created a strain in the relationship.

When it comes to businesses that run underground, it is not uncommon for them to avoid paying taxes to maximize profit. Tax evasion is illegal and in most cases it should be reported without hesitation.  Tax evaders are criminals and are essentially cheating the people who do pay taxes.  However, when a family member is committing this illegal action, it isn’t so black and white.  In this situation, a conflict of interest occurs between loyalty to family and loyalty to the law/government. On one hand, conflict is created within a family, but on the other hand, not reporting the tax evasion is equivalent to being an asset to the crime.  In these dilemmas, it’s tough to make the right decision because both choices seem to have negative consequences.

Business ethics has long been a complex, controversial topic that has no clear set of guidelines because it is not just a moral code that states what is right and wrong.  To some, business is nothing but a money-making industry that seeks to make a profit at all costs.  However, business isn’t only about money.  Business ethics are about balancing the fine line between making a profit and abiding by human rights values and thus are a core part of business.  A company that embodies business ethics is not only more likely to gain the acceptance of the public, they are also making the world a better place.

I was raised with the mindset that rules are in place for a reason; therefore, my ethics and morals clearly tell me that adherence to the law is more important than loyalty to my family.  If I were in a situation where I caught a family member committing tax evasion, I would bring the situation up with them and tell them that I think what they’re doing is dishonest, and I would report them afterwards if they fail to comply.  I firmly believe that tax evasion is unethical not only because it’s illegal, but more importantly it’s a prime example of social loafing in the real world.  A business that participates in tax evasion does not abide by the unspoken rules of business ethics because they are stealing from the government, and as an extension, everyone in the country.  I believe that a business cannot truly be called successful unless they are making a significant profit whilst still upholding business ethics.

-450 words

References:

https://www.nytimes.com/2017/08/22/magazine/should-i-turn-in-my-tax-cheating-relative.html rref=collection%2Ftimestopic%2FEthics&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=9&pgtype=collection

http://www.investopedia.com/terms/b/business-ethics.asp

http://businesscasestudies.co.uk/anglo-american/business-ethics-and-corporate-social-responsibility/what-are-business-ethics.html

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