Month: March 2010

It isn’t a secret that rewards systems can be dysfunctional. Whether they are related to the global economic slump, such as the major bonuses given out in the states, or they are long term concepts outlined in On the Folly of Rewarding A, When Expecting B,  these systems can create major controversy. This is not to say that A is a direct failure, but it is not what the company wants.  Evidently, one of the biggest challenges in running a company is how to successfully reward employees in order to maximize profits and satisfaction.

                I believe a reward system don’t only involve incentives such as money, vacation time or stock shares. I believe one of the most powerful motivators is recognition, whether it’s verbally or through an e-mail, employees need to know when they are doing the right thing. Ultimately, when building a business, management must be careful to motivate employees so that they are behaving in a way that is beneficial to the company as a whole.

Many people are aware of the increasing awareness surrounding sustainability. Everywhere you look, there are “Be Green” posters, recycling bins, or hybrid cars. Although many people are working towards more environmentally friendly lifestyles, some companies are only doing so in order to appease their customers.

Walmart admits to pursuing sustainable efforts in order to maintain a competitive edge, which makes one wonder whether this company collectively believes in environmental sustainability, or whether these efforts have an ulterior motive. Today, “Going Green” is a fad to many companies and Walmart’s expenditure of $500 million a year correlates to the immense pressure they were under from consumers. 

To me, “Being Green” is a lifestyle.  “Being green” means acknowledging that changes need to be made, and altering our lifestyles to make informed decisions. A company which has been discussed in class is the Body Shop, a company with missions focusing on environmental sustainability and animal protection.  It is important that consumers are aware of where their products are coming from and whether or not they can alter their decisions to have a positive impact on the environment.

There is a difference between “Going Green” and “Being Green.”

Organizational culture is a concept that affects all business environments, whether employees recognize it or not.  As a topic that has been covered in class, organization culture is something that has sparked my interest.

As the recession ends, people are still in unsteady jobs, and statistics have shown that people who don’t follow corporate culture are more likely to lose their job. This makes me wonder, if I ever own a business, how can I make sure there is a strong culture within the company?

Many present day companies provide as excellent examples to superior corporate culture.

The computer manufacturer, Hewlett-Packard (HP), is recognized for its impressive company culture.

Their corporate culture, known as “The HP Way”, is based on three main objectives

• Respect everyone
• Provide a sense of community
• Work hard

Through extensive training of employees and managers, the company is able to maintain these high standards of corporate culture.

The exceptional culture Hewlett-Packard demonstrates is something all companies should strive for, in order to maximize employee satisfaction and corporate reputation.

The yoga driven company known as Lululemon has faced anything but economic slumps in the past year. The business currently announced fourth quarter earnings significantly above normal. The only thing this company struggles with is keeping up with demand.  

Lululemon has expressed the need for changes within its inventory system, acknowledging that they must re-evaluate their supply chain. Additionally, the company is starting to spend more money in order to airlift goods overseas.  

This company is well known for its success and superiority over other producers in the industry. Lululemon, based in Vancouver, often sets goals above and beyond the average targets in this type of market. But what makes this company so successful?  The company has attributed its success to a few key strategies, including e-commerce and the surge of popularity due to the Olympics, aiding in brand exposure.

So what’s next for this company? An increase in quarterly earnings, and major profits!

Lululemon

According to the Wall Street Journal, Sony plans to release a 3D television by the end of 2010. We all know the cult following 3D technology has acquired within the movie theatre industry, but what makes Sony believe they can successfully market a 3D television?

Although Sony has made no official statement regarding the release of this type of product, it makes one wonder how Sony can effectively market this T.V.

The costs are likely to be high, and converting television programs into 3D technology is a time-consuming process.

In order to be successful, Sony must consider its strategy.

Who is Sony going to sell this product to? Sony has strong brand recognition with consumers, and so if they find the right market niche and strategically market their product, they will be profitable. Likely, the market niche will be with younger adults who are technologically savvy.

Additionally, Sony must consider the perception that consumers have regarding their products. How does Sony want to be viewed by consumers, especially with the potential health hazards extensive viewing of 3D can cause.

Ultimately, Sony is currently in a financial slump, so the company must consider whether this type of product can help to increase sales, or whether a 3D television will hinder the company.

http://gizmodo.com/5350607/sony-plans-to-introduce-3d-lcd-television-by-end-of-2010