After the lecture given by Professor Carson Woo, I got an interest in IT and Business. People are now used to the word “smart’ in front of every product. Smartphones, smart cars, smart meter, smart key, smart anything. It shows how technology has impacted on us in our everyday life. TransLink is now introducing Smart Card system which is electronic fare-payment system.

In the article “TransLink to install turnstiles, Smart Card System” the Translink CEO Ian Jarvis said,  “Smart Cards will make our transit system easier to use for the customers and provide invaluable information that will help us maximize the efficiency and productivity of our fleets.” This statement demonstrates how IT and information system is important to a business.

In South Korea, people have been used these cards for years. It had brought many changes to their life. By implementing the system, transportation system have improved way more efficient than before. It had brought many benefits including faster transaction, cheaper fares, efficient transfer, and reduce of paper waste. By introducing this system to B.C, it will also bring many benefits to customers.

After reading Jean-Philippe Boutin’s blog post “Evaluating Our Carbon Footprint,” I now have better knowledge about the evaluation process of our carbon emissions. The increased rate of carbon emissions results in climate change, the most important environment issue of our time
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The Yellow Page Group (YPG) has been reporting their carbon footprint and assess how their carbon footprint methodology compares to other Canadian companies, review their reductions over the last few years and reflect on 2012. They have been trying to reduce their emissions. They have been successfully reducing their emissions by adjustments to the after hours lighting system and reduction of print directory emissions.The effort they made would not be enough to change the world, but if all companies and individuals try to reduce their carbon emission, it will make a change.

After learning about social entrepreneurship in class, I was amazed by Toms Shoes. I was surprised when I heard what they are doing. How could they give away full product?

In the article “Toms Shoe’s model is sell one pair, give a pair away”, it explains how young entrepreneur Blake Mycoskie, the CEO of Toms Shoes, started this model. He met some aid workers who were distributing shoes to people in need. They were giving out  old and ill-fitting shoes. Mycoskie had better idea of building business around the laid-back shoes.

After reading the article, I was touched by how shoes donations could make changes to people in need and realized the importance of social entrepreneurship. According to the article, one out of 13 kids in southern Ethiopia had this disease that can be prevented by wearing shoes. Blake Mycoskie also wants to expand his one-to-one business model to expand. “People need water and schoolbooks and housing. I want to come up with partnerships and products that allow our customers to buy what they need so other people can get what they need.” It is interesting how this simple one-to-one business model could help and change the community.

In Cathy Lee’s “Blackberry Recovery of Rediscovery” blog post, it talks about the newest RIM’s BB 10. I strongly agree with her point that the BlackBerry is lagging behind its competitors. Because of their late introduction of smart phones, RIM has been hugely losing their customers. Some people might argue that BBM feature will keep their customers, but i think the opposite. BBM is not the point of difference for RIM anymore. There are many apps that allow people to communicate through messages with their smart phones. For example, in Korea, KakaoTalk is very famous app that almost every smart phone users use for messaging. The app is provided for both Apple’s appstore and Google’s Playstore, it allows both iOS users and Android users to communicate. RIM should have keep up with the trend to satisfy their customers. It has been too late that RIM has lost their point of difference. Current BBM users would also change to other devices because of the decrease in use of BBM. The new BB 10 will not attract new customers since all the features are already available on other smartphones that already exists.

Susan Minjee Kim, one of her blog posts, “Fruit Versus Moreover Universe” discusses about “what are the parities and differences that position the two companies’ brands and values in the minds of consumers and why do majorities end up purchasing certain brands?”

Some of the categories of difference between iPad and Galaxy Tab could be design, cost, technical specifications, and brand reputation.I would personally go with Galaxy Tab. I prefer Galaxy Tab design because the screen is wider and has no home button. I do not like home buttons because I had an experience of not working home button with my iPod touch. Also, Galaxy Tab could insert micro SD card so that I can expand memories. Lastly, I prefer Android because, most of the phone/ tablet making companies chose Android except Apple. Google Play Store would provide with variety of apps and with diverse users, there would be faster and better evolution of app store.

Avoid the Overlapping Value Proposition

This blog post explains how overlapping value proposition could end up “cancelling each other out.” The companies that were used as examples are Coca Cola and Pepsi. When there was no use of convincing consumers with better tastes, Coca Cola and Pepsi decided to go with more distinct and emotional approaches. They had decided to convince customers by creating ‘personalities’ for their brands. The blog post explains that Coca Cola has positioned itself as a feel-good drink with consistent logos. On the other hand, Pepsi has been reinventing itself as the ‘cool drink.’ Even though they are both coke making companies, they were able to avoid ‘overlapping value proposition’ by looking at their challenges in other dimensions.

In COMM101 class, we have learned about value proposition. We have discussed Coca Cola vs Pepsi and saw advertisements. At first, I wondered how two companies would compete because they are selling similar products. I also thought that there are barely any taste difference between Coca Cola and Pepsi. After reading this blog, it was helpful for me to understand how companies could develop their value propositions even though they have similar products.

Understanding The Time Value of Money

If you were given A- $10,000 now OR B- $10,000 in three years, which option would you choose? The answer all depends on the time value of money

What is time value of money?

A dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received. The answer for the above question is A because by receiving $10,000 now, you could invest and earn the interest. So the future value of the money for option A is $10,000+ interest. On the other hand, the future value of money for option B is just $10,000.

Future Value Basics

Future Value= Original Amount x (1+interest rate par period)^number of periods

Present Value Basics

Present Value= Future Value/(1+interest rate par period)^number of periods

As you now realized that time is money, you have to consider the Future value of money when you invest. It is important to calculate the future value of money to compare investments that offer you at different time periods.

Wall Street’s Economic Crimes Against Humanity