In March, I was in a state of panic. Having no idea which university I wanted to attend, I decided to do some research on the cultures of the schools I was looking at. UBC stood out to me for its dedication to social responsibility, from gender and sexual orientation inclusivity to the use of sustainable resources. After reading this information, I thought to myself, this is a community that I want to be a part of. So I accepted my offer to UBC and started packing my bags.

One major difference I noticed at UBC was the four-bin waste system, which differed significantly from the simple recycling and garbage system that I had grown used to in Calgary. From the moment I set foot on campus, UBC’s dedication to its vision for a better future was clear, and made me proud to be a UBC student. UBC sets a strong example for businesses to create a positive impact on the world while making profits.

UBC  implements a four-bin waste-sorting system to maintain a green campus.

What really stood out to me was that the majority of UBC’s operational food waste is compostable material. Recently, I had the opportunity to meet the owner of the food container company that produces UBC’s compostable containers. Upon seeing the disposable plates we were given for refreshments, she pointed out that most consumers do not pay attention to where their disposable waste comes from. She could make the same plate of the same quality out of sustainable materials, but that would mean higher costs. With a product that is going to end up in the trash anyways, consumers make the cheaper choice without a thought.

How can the Earth’s environmental problems be solved under a capitalist economy? As discussed in a class reading, businesses can reconcile their economic needs with society’s needs by creating shared value (Kramer 2011). Rather than having companies make profits at the expense of others, a culture encouraging social responsibility must be created. I believe this culture starts with consumers: if consumers are educated about what is good for society, they will purchase more sustainable products. If demand for these products is increased, production will increase and, eventually, average costs will go down. Prices for sustainable products will decrease, and sustainability will become the new norm.

By changing the way consumers think, companies can effect change on the entire system. Just look at the tech industry: computers, which used to be an anomaly, now exist in nearly every Canadian home. UBC is sparking the same type of culture change through its dedication to sustainability, giving it a strong selling point while setting an example for other universities to consider sustainable practices. Through shared value, we are making our way towards a better, greener world.

Word count: 450

References:

Kramer, M. & Porter, M. (2011). Creating Shared Value. Harvard Business Review, 89(1/2), 62-77.

Responsibility. (n.d.). Retrieved October 27, 2016, from http://www.food.ubc.ca/responsibility/

Sexual orientation and gender identity. (n.d.). Retrieved October 27, 2016, from http://students.ubc.ca/campus/diversity/sexual-orientation

Sorting Guide. (n.d.). Retrieved October 28, 2016, from https://sustain.ubc.ca/campus-initiatives/recycling-waste/sort-it-out/sorting-guide

Sustainable Food Initiatives. (n.d.). Retrieved October 27, 2016, from https://sustain.ubc.ca/campus-initiatives/food/sustainable-food-initiatives

UBC named top Canadian university in sustainability. (2015, October 27). Retrieved October 27, 2016, from http://news.ubc.ca/2015/10/27/ubc-named-top-canadian-university-in-sustainability/

The proposed economic policies of US presidential candidates Donald Trump and Hillary Clinton could have severe impacts on Canadian businesses.

Some Canadians don’t care about what happens in the upcoming US presidential election. Some say that they hope Donald Trump wins because it would be funny. But here’s one of the reasons why Canadians should be taking the political affairs of our Southern neighbour much more seriously.

Another student blog post outlined the importance of the G20 in managing the interconnectedness of the world economy. Canada and the United States are both a part of this group of influential nations, and our economies are both very strongly intertwined.

Currently in the United States, there has been an increased desire for protectionism due to the rising fear of terrorism. Republican candidate Donald Trump has proposed economic policies to enforce protectionism, such as renegotiating the North American Free Trade Agreement and pulling the US out of the Trans-Pacific Partnership agreement. This would mean a radical change in the US economy, and falling US stock prices indicate that investors are losing trust in the American economy.

As Canada’s biggest trade partner, changes in US trading policy would have a major impact on our country. A Globe and Mail article expresses that Canadian companies may need to rethink their business strategy in the event that Mr. Trump becomes president. Many businesses are holding off on expanding into the US in fear that the new policies will have a negative effect on them, and investors are demonstrating an unwillingness to invest in the US. If US trading borders are hardened, it will mean increased costs of purchasing materials from the US. If Canadian companies do wish to continue selling in the US, they may have to begin producing from within the US to avoid tariffs on Canadian-made goods. Either way, Trump’s protectionist policy would have a severely negative impact on the Canadian economy, especially since the US is Canada’s number one country to export to.

It seems reasonable that uncertainty in politics, such as the election of a new president, often leads to fear and distrust in the economy. Therefore, a slow-down in trade is predictable. International business always has associated risks, because businesses cannot always influence the policies of other nations. Companies that attempt to acquire lower costs and cheaper resources by outsourcing materials and labour may succeed in doing so, but there is also the risk of the country changing their policies. Regardless of which US candidate is elected president, it is clear that the United States is very influential in the world economy, especially for Canada as our biggest trade partner. Therefore, it really is important that Canadians pay attention to what both Trump and Clinton’s proposed policies would mean for businesses in Canada, and plan accordingly for any possible outcome.

Word count: 449

References:

Bao, X. (2016, October 15). G20 Summit 2016. Retrieved October 16, 2016, from https://blogs.ubc.ca/baoxinyi/2016/10/15/g20-summit-2016/

Campbell, D. (2016, August 08). Canadian businesses shift strategy amid threat of Trump presidency. Retrieved October 14, 2016, from http://www.theglobeandmail.com/report-on-business/small-business/going-global/canadian-companies-doing-business-in-us-worry-about-trump-presidency/article31303910/

Imports, exports and trade balance of goods on a balance-of-payments basis, by country or country grouping. (2015). Retrieved October 15, 2016, from http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gblec02a-eng.htm

Leong, R. (2016, September 26). Global stocks wobble before U.S. debate, output deal hope lifts oil. Retrieved October 16, 2016, from http://www.reuters.com/article/us-global-markets-idUSKCN11W00R

Goldhill, O. (2016, October 01). The reason we can’t agree on what’s factual is that facts don’t exist. Retrieved October 16, 2016, from http://qz.com/798268/presidential-debate-a-philosopher-explains-why-facts-are-irrelevant-to-donald-trump-and-hillary-clinton/

Sherwood, I. (n.d.). How the 2016 Presidential Election Will Be Won on Social Media. Retrieved October 16, 2016, from http://www.futureofbusinessandtech.com/news/how-the-2016-presidential-election-will-be-won-on-social-media

Coffee is in high demand due to its association with productivity, alertness, socializing and overall happiness.

When was the last time you went out for a cup of Joe? Whether it’s black, half and half, or decaf, most people would agree that coffee is an important part of their daily routines. Studies show that coffee is the most commonly consumed beverage in Canada next to tap water. Starbucks is one of the most successful coffee companies, having had 45 years in operation and over 5500 locations in over 50 countries. How does a company like Starbucks achieve success in such a competitive industry?

Another student blog post outlines one way that Starbucks creates value for its customers, using ethically sourced products. By being socially responsible, Starbucks effectively differentiates itself from companies that do not use ethical means of production, and complements society’s growing awareness of the need for companies to address ethical issues.

Starbucks drinks are highly customizable, allowing customers to personalize drinks with syrups, shots, toppings, and more.

The strategy that Starbucks uses is a combination of competitive advantage (Porter 1996) and transient advantage (McGrath 2013). First, Starbucks employs a differentiation strategy in order to create a unique value for its customers and gain a competitive advantage. Starbucks achieves differentiation through its large selection of products, including drinks, food, reusable mugs, snacks and packaged coffee. Starbucks drinks are also highly customizable, allowing customers to add sweeteners, shots, syrups, toppings and milks. This creates a personalized experience for Starbucks customers. Starbucks also has its own unique sizes: instead of the conventional small, medium and large, customers order tall, grande or venti. This adds to the differentiation and luxury associated with Starbucks’ brand. This sense of luxury is reinforced by Starbucks’ rewards program and its exclusive gold membership.

Starbucks also makes changes to its company as external opportunities and threats arise, employing a strategy of transient advantage. One tool that makes Starbucks unique is its rewards program. Members earn “stars” on every dollar spent, which can be redeemed for a free drink. Starbucks offers members “bonus stars” for purchasing certain items, encouraging customers to try newly introduced products. “Bonus stars” are also offered for filling out surveys, allowing Starbucks to get regular feedback on how they are doing, and how they can improve in order to add value for their most loyal customers. Starbucks has proven to be especially innovative with the rise of technology and smartphone use, recently creating an app where customers can conveniently order ahead and pay on the app.

Through the use of the differentiation and transient advantage strategies, Starbucks is able to achieve a sense of luxury and personal connection with its customers. By making its brand unique and evolving its company to fit new opportunities, Starbucks has successfully made itself into one of the strongest companies in the world.

Word count: 438

References:

Coffee Facts. (2015). Retrieved October 03, 2016, from http://www.coffeeassoc.com/media-coffee-facts/

Dayton, Z. (n.d.). Before and After Work Drink Coffee Funny Quotes and Sayings. Retrieved October 03, 2016, from http://quotesgram.com/img/before-and-after-work-drink-coffee-funny-quotes-and-sayings/2670901/

Grosz, C. (n.d.). Coffee Order Cartoons and Comics. Retrieved October 03, 2016, from https://www.cartoonstock.com/directory/c/coffee_order.asp

International Stores. (2016). Retrieved October 03, 2016, from http://www.starbucks.ca/business/international-stores

McGrath, R.G. (2013). Transient Advantage. Harvard Business Review, 91(6), 62-70.

Porter, M.E. (1996). What is Strategy?. Harvard Business Review, 74(6), 61-78.

Quinn, M. (2016, September 12). Starbucks Sustainability and Stakeholder Theory. Retrieved October 02, 2016, from https://blogs.ubc.ca/michaelaquinn/2016/09/12/starbucks-sustainability-and-the-stakeholder-theory/