Resourcefulness sacrificed for ‘Efficiency’?

When weighing the pros and cons regarding the improvements in technology throughout our lifetime, Claudia brought up a valid point about our generation’s dependency on technology. In truth, what would our daily lives be without some form of electronic device by our side? Be it an iPod, a Blackberry, a skytrain, a laptop, a watch, or an elevator, advances in technology can be spotted in almost every aspect of our everyday routine.


 

 

 

 

 

 

What does this translate to in the workplace? From a firm’s perspective, betterments in technology have widely contributed to continual increases in the company’s efficiency. Nowadays, more numbers are being crunched by computers, more drinks are being served by machines, and more knowledge is being attained by workers – all via conveniences made readily available through technology. And although today’s employees are much more efficient than ever before, I believe that, unfortunately, they are also much less resourceful. Years ago, intellects were required to contrive airplanes, produce cars, and write financial statements with not much more resource than their brain and hands. Now, with seemingly unlimited technological resources at our disposal, with electronic devices doing the jobs of both our brains and hands, has our generation’s productivity really increased? Ask the guy checking the scores on his iPhone at work.

 

Word Count: 210

Image:

http://www.google.ca/imgres?q=watching+tv+at+the+workplace&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=IT7VOL7RIFprjM:&imgrefurl=http://www.classycareergirl.com/2010/07/world-cup-affects-workplace-productivity/&docid=FjlJ4YoNLOH4NM&imgurl=http://1.bp.blogspot.com/_YuTWmIiQr-8/TDfgOaVj2bI/AAAAAAAAALI/VHLmhlonZuA/s1600/WATCHINGATWORK-0706_GS91FVV1V_1%252BNY115__WCup_Watching_at_Work_Soccer_embedded_prod_affiliate_156.jpg&w=580&h=379&ei=FBXOTvX7KJDbiAKE7anrCw&zoom=1&iact=hc&vpx=924&vpy=281&dur=88&hovh=181&hovw=278&tx=114&ty=111&sig=110643279581675664239&page=7&tbnh=124&tbnw=165&start=121&ndsp=22&ved=1t:429,r:12,s:121

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The Overwhelming Task Faced by MIS

Most of us are clear with the fact that MIS (Management Information Systems) refers to the structure in which computer systems supply managers with information. This information, concerning the business’ operations, is then used in various decision-making processes towards the company. In the past few decades, however, accompanying the advancement of new technologies has been the emergence of an unusual, but ever-present problem within this structure. Bob Clemen of Duke University put it this way: “Our ability to acquire data has greatly outstripped our ability to analyze it in a productive way.”

In other words: with so much information at our fingertips, what do we do with all of it? Equipped with tools such as search engines and Key Performance Indicators, MIS often has difficulty extracting the relevant data needed to apply to decision-making processes. In my eyes, the solution seems rather obvious: simply work backwards. Identify what decisions need to be made, determine what data is needed in order to make the informed decisions, and only then should a company actually look to uncover this information. Using this method, I believe, would eliminate the spillover information that, on its own looks to contain value, but juxtaposed next to the issue at hand, is largely meaningless.

 

Word Count: 206

References:

http://business.financialpost.com/2011/05/16/canadian-executives-still-struggling-with-information-overload/

http://www.entrepreneur.com/article/173412

Image:

http://www.google.ca/imgres?imgurl=http://allantyoung.com/wp-content/uploads/2008/04/informationoverloadcartoon.jpg&imgrefurl=http://allantyoung.com/2008/04/19/rethinking-information-flow/&h=270&w=328&sz=83&tbnid=u_eP8RCiigGvpM:&tbnh=91&tbnw=110&prev=/search%3Fq%3Dinformation%2Boverload%26tbm%3Disch%26tbo%3Du&zoom=1&q=information+overload&docid=_K2O6zwWO2p0OM&hl=en&sa=X&ei=SgLOTtyRNOeYiAKQrai-Cw&sqi=2&ved=0CEIQ9QEwAg&dur=418

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How TerraCycle is redefining the word ‘frugal’

In 2001, an idea formed in the mind of a Princeston freshman to produce fertilizer out of organic (worm) waste. Ten years later, Princeston drop-out Tom Szaky is the founder of Terracycle, a multi-million dollar company that is revolutionizing the green community.

Wikipedia defines an entrepreneur as “one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods”. Ever since Tom Szaky first submitted his idea to a business plan contest “sponsored by the Princeton Entrepreneurship Club”, he has stubbornly lived out this description. Terracycle now collects non-recyclable waste and transforms them into an assortment of products and materials. This process, often called ‘upcycling’ was, as Szaky initially experienced, a hard business concept to sell. Nevertheless, he persevered: he “saved, borrowed and begged to raise $20,000 to create [his] Worm Gin”, devoted himself to the business by dropping out of university, expanded his business model, and eventually convinced large retailers such as Home Depot and Walmart to buy into the idea. To me, this is the true definition of entrepreneurship. An unwavering self-belief in their product or service, coupled with an astute eye for opportunity, is not only what defines an entrepreneur, but what propels them to success. In accordance to the class reading, Terracycle has generated a considerable amount of wealth in a small time span; at the same time, the company has sustained high risk in its venture while involving momentous innovation.

Word Count: 236

(In response to Class 19: Blog about one company that you consider to be entrepreneurial, and which characteristics it exhibits, based on the reading.)

 

References:

http://www.terracycle.net/en-US/about-us.html

http://articles.businessinsider.com/2011-08-29/strategy/30009046_1_business-model-business-plan-raw-material

http://en.wikipedia.org/wiki/TerraCycle

http://en.wikipedia.org/wiki/Entrepreneurship

Image:

http://www.entrepreneur.com/magazine/entrepreneur/2010/june/206722-5.html

 

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In reality, is Corporate Social Responsibility socially responsible?

A combination of the October 25th class on CSR & Sustainability and a passage in my Microeconomics textbook on the behaviour of firms sparked curiosity in me about the concept of corporate social responsibility. What I began to realize was that between two theories I had learned in the span of three days, there lay subtle but compelling contradictions. The idea behind the CSR theme in class was that in order to maintain a socially responsible business model, companies should act a manner that will benefit society. Conversely, my textbook stressed that in order to benefit society, companies should act in a manner that benefitted themselves. Naturally, the textbook forced me to take a step back and consider the implications. Would it be responsible to take capital invested by shareholders and use it towards purposes that wouldn’t increase the return on their investments? Or would it be responsible to charge customers a particular price for a product in which a portion of that price will be spent on social causes – without our knowing? In my opinion, the answer is no. As much as shareholders expect the highest possible return on their investment, consumers expect that the price they’re paying is going towards the purchase, and not towards a cause in which they may or may not support.

 

Word Count: 212

References:

http://en.wikipedia.org/wiki/Corporate_social_responsibility

http://online.wsj.com/article/SB10001424052748703338004575230112664504890.html

Image:

http://www.google.ca/imgres?q=corporate+social+responsibility+comic&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=jmAjmg1MRb7kCM:&imgrefurl=http://gamedad.wordpress.com/&docid=z5Ub5Gxzn24mbM&imgurl=http://www.ramgad.com/wp-content/uploads/2010/05/polyp_cartoon_corporate_social_responsibility1.jpg&w=716&h=637&ei=BjfPTpa2OueqiQLB38HiDw&zoom=1&iact=hc&vpx=795&vpy=141&dur=1035&hovh=212&hovw=238&tx=133&ty=95&sig=110643279581675664239&page=1&tbnh=133&tbnw=149&start=0&ndsp=21&ved=1t:429,r:4,s:0

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The Dark Side of HR

Class 16 on Human Resource Management looked at a corporation called Zappos. Labelled as a company with clear benefits and excellent employee relations, Zappos Inc. boasts an HR department envied by workers worldwide. While the Zappos case gave us insight on the subject of HR from a peachy perspective, what is often failed to be acknowledged when defining the practice of HR services is the dreaded process of outplacement. This process is implemented in an attempt to alleviate the painful period for employees during which organizations are downsizing. In plain terms, a competent outplacement consultant is not only a job-search expert, but a capable counsellor and motivator.

In my opinion, however, outplacement is not a term that should instigate foreboding, but an asset that should instil hope.  Given, most workers quake at the sight of an outplacement consultant because a sighting, more-often-than-not, signifies the onset of a dismissal, it shouldn’t be forgotten that these advisors help thousands of people get back on their feet following a layoff. By providing career guidance, counsel, and practical advice, outplacement consultants are the cause for re-employment among many discharged employees. The process of outplacement, led and managed by HR, is not something to be shunned, but affirmed.

 

Word Count: 203

References:

http://www.simplehrguide.com/outplacement.html

http://www.theglobeandmail.com/life/article977144.ece

Image:

http://www.google.ca/imgres?q=outplacement&num=10&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=4xMhAV6fMVes2M:&imgrefurl=http://outplacing.com/outplacing-services/outplacement-services/&docid=IgXCLRz1aNuVBM&imgurl=http://outplacing.com/files/2010/03/What-is-outplacement.jpg&w=382&h=229&ei=JQHOTruPGcOeiQLHi8HpCw&zoom=1&iact=hc&vpx=338&vpy=168&dur=365&hovh=127&hovw=212&tx=156&ty=117&sig=110643279581675664239&sqi=2&page=1&tbnh=117&tbnw=196&start=0&ndsp=19&ved=1t:429,r:1,s:0

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Who is Roman Abramovich?

In response to a Freedom Arizona blog titled “10 Presidents, 16 Executives Without College Degrees”, I began to wonder what tangible bearing education had over one’s success. Before long, someone crossed my mind – a man whom my father had told me about when I was little, and a man who was very rich.

While many observers view this man as a politician and governor, others regard him a businessman and Russian tycoon. To me, however, Roman Abramovich is the definition of a man who used aptitude and intuition, instead of method and convention, to achieve success.

Selling stolen gasoline to commissioned officers during his spell with the Soviet Army, he was not shy to showcase his flair for business early on in his career and later, went on to smuggle black market goods, manufacture plastic toys, initiate an automobile parts cooperative, and “set up and liquidate at least 20 companies during the early 1990’s”. In my opinion, Abramovich is a man who not only has a talent for conjuring lucrative ideas, but the impetus and drive to fabricate them. While many of these ideas entailed much risk, he let nothing hinder his conquest in attaining his goals. Drifting away from the traditional method of schooling, he found fortune by simply forming his own ideas and making them happen.

Word Count: 218

 

References:

http://en.wikipedia.org/wiki/Roman_Abramovich#Business_career                                                                                                                                                                                                         Image:

http://www.google.ca/imgres?q=roman+abramovich&num=10&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=WPGmOMNCisG2SM:&imgrefurl=http://www.topnews.in/sports/people/roman-abramovich&docid=u9lyAjx1ntNqfM&imgurl=http://topnews.in/sports/files/roman-abramovich_0.jpg&w=300&h=410&ei=AQHOTqXUGoKpiQLymsXCCw&zoom=1&iact=hc&vpx=335&vpy=249&dur=670&hovh=263&hovw=192&tx=125&ty=223&sig=110643279581675664239&sqi=2&page=1&tbnh=126&tbnw=92&start=0&ndsp=22&ved=1t:429,r:15,s:0

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The Brand Spell

It’s something we often fail to notice.

As Elaine mentioned in one of our lectures: every day, we are continuously bombarded with wave after wave of brand-named items. What we fail to realize, however, is that every single time we stumble upon a brand, our mind immediately makes a connection. This instant connection is what emphasizes the significance of brand association and its implications on consumer-purchasing habits.

 

Brand association is something that is often underestimated and overlooked by consumers and suppliers alike. Subconscious or not, our thoughts and opinions towards a brand occur almost simultaneously with our catching sight of it. These judgements allow us to associate attributes and peculiarities with a known entity: a Jaguar, for example, may carry traits such as luxurious and sleek while Dairy Queen may be remembered for their delectable ice cream treats. In my opinion, these connections are of an immense importance to a company. They will decide whether a man who, upon seeing two cars he’s never driven, favours one above the other. Companies need to weigh much more importance on the fact that when their brand becomes public, it will stamp an image on a consumer’s mind, leaving an imprint that will sway their decisions.

Word Count: 203

 

References:

http://www.answers.com/topic/brand-association

http://www.managementstudyguide.com/brand-association.htm

 

Image:

http://www.google.ca/imgres?q=jaguar+ad&start=461&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=ZL3Ho25UUSedbM:&imgrefurl=http://florida.inetgiant.com/sunrisefl/addetails/09-jaguar-xf/17592327&docid=klNPRda2J7QtFM&imgurl=http://www.autocarexpose.com/wp-content/uploads/2011/03/Jaguar-XF-2011-reviews.jpg&w=440&h=330&ei=uADOTqrjPImUiAK9tt39Cw&zoom=1&chk=sbg&iact=hc&vpx=726&vpy=285&dur=764&hovh=126&hovw=169&tx=86&ty=137&sig=110643279581675664239&page=22&tbnh=126&tbnw=169&ndsp=20&ved=1t:429,r:17,s:461

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Appeal to Authority

Have you ever wondered why the choices we make are so profoundly affected by the testimonies of certain individuals? Why the appearance of a celebrity’s face on a commercial will seize our attention and influence our purchasing habits? We have all seen Jennifer Hudson’s ‘proven’ results after using Weight Watchers, Hayden Panettiere’s clear face after a Proactiv trial, or David Beckham tied shoelaces after donning his Adidas cleats. Why do these people sway our decisions to buy?

The omnipresence of celebrities in everyday ads has become a widely accepted trend. Companies lacking credibility in some way will look to utilize the credibility of others (i.e. scientists, experts, celebrities, etc.) to strengthen their product/service’s image. Businesses are aware that attributes which their product/service may lack can be provided by the attributes that a celebrity may carry. The value of a company’s brand image and brand awareness is often bolstered by celebrity endorsement.

We, as customers, seek credibility. We want to be able to relate to someone – someone, especially recognizable, who has used the product/service and can affirm that the quality/results that will follow are legitimately positive. Our appeal to authority is what company’s often take advantage of within their marketing strategies.

 

Word Count: 201

References:

http://www.chillibreeze.com/articles/Celebrity-endorsement.asp

http://www.buzzle.com/articles/propaganda-techniques.html                                                                                                                                                                                                                 Image:

http://www.google.ca/imgres?q=adidas+beckham&um=1&hl=en&biw=1366&bih=643&tbm=isch&tbnid=26z1q66KGPyZcM:&imgrefurl=http://www.millionlooks.com/outfits/david-beckham-for-new-adidas-campaign/&docid=7x0nANgacC1hKM&imgurl=http://www.millionlooks.com/images/david-beckham.jpg&w=400&h=300&ei=6P_NTtzDKMWkiQLJmbz5Cw&zoom=1&iact=rc&dur=260&sig=110643279581675664239&page=1&tbnh=118&tbnw=157&start=0&ndsp=19&ved=1t:429,r:13,s:0&tx=70&ty=101

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Facebook: The Next Big Marketing Tool?

When asked during an interview what marketing strategies I would use in order to promote their club, the first thing that popped to mind was, inexplicably, Facebook. As the word left my mouth, I explained to my interviewers the reasoning behind my answer. Firstly, Facebook is immensely popular. With
over 800 million active users, it is the most widely used social networking
service and thus, provides access to an extremely large market. As Jasmine
mentioned in her blog, Facebook has developed into an addiction for much of the
world’s population – further strengthening the fact that the stream of
consumers provided is unlikely to falter. Secondly, advertising on Facebook is
largely free. Smaller companies, operating on tight marketing budgets, will reap
these benefits as they apply marketing techniques such as creating their own
Facebook Page, Facebook Beacon, or Social Ads.  If a business were to have their own Facebook Page, for example, someone may ‘Like’ the business’ page and subsequently, spark attention as their friends are notified of the page he/she ‘liked’. According to a blog on ‘Inside Facebook’, Facebook representatives have already begun to educate employees of various businesses “on how best to promote themselves on the social network”.

Word Count: 200

 

References:

http://www.focus.com/fyi/facebook-marketing-toolbox-100-tools-and-tips-tap-facebook/

http://en.wikipedia.org/wiki/Facebook

Image:

http://www.google.ca/imgres?q=facebook+marketing&hl=en&gbv=2&biw=1366&bih=643&tbm=isch&tbnid=sLP0WI5rwaEKIM:&imgrefurl=http://dannysyoon.com/facebook-marketing-strategy-secrets-online/&docid=0as90HxtFWiEfM&imgurl=http://dannysyoon.com/wp-content/uploads/2011/07/facebook-marketing.jpg&w=239&h=210&ei=s__NTpX6L-iZiALHpsCGDA&zoom=1&iact=hc&vpx=382&vpy=323&dur=400&hovh=160&hovw=182&tx=111&ty=84&sig=110643279581675664239&page=1&tbnh=137&tbnw=156&start=0&ndsp=18&ved=1t:429,r:7,s:0

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A Dolphin Outlook on Business Ethics

 

Straying away from the human
aspect of business ethics, I decided to write about an article which shone light
on businesses’ disregard for animal cruelty. As many witnessed following the
release of the documentary “The Cove”, dolphin drive hunting is a well-known,
highly controversial, and apparently, very lucrative practice – especially
among nations such as Peru and Japan. Common dolphin hunting practices include
slitting the throats of the dolphins or jamming metal rods into the necks of
these cetaceans. Such methods of hunting emphasize the barbarity that many
companies will condone in order to sustain profits. Outlawed in the majority of
countries throughout the globe, dolphin hunting remains the focal point for
various markets such as the dolphin entertainment industry, illegal trade, and
many meat markets. Unfazed by the eminent threat of human health risks, the
inhumanity of their customs, and the collection of activist groups (such as Whale
and Dolphin Conservation Society and Blue Voice), dolphin drive hunting remains
a common practice within the regulatory environments of countries which allow
for it. Thus, if the responsibility of maintaining ethical treatment towards
cetaceans is shrugged off by governments, is it not up to businesses to take
this responsibility upon their shoulders?

 

Word Count: 200 

References:

http://www.vancouversun.com/business/economy/Global+protests+against+Japan+dolphin+hunt/5340540/story.html

http://search.japantimes.co.jp/cgi-bin/nn20100824a3.html                                                                                                                                                                                                                       Image:

http://www.google.ca/imgres?q=dolphin+drive+hunting&um=1&hl=en&sa=N&biw=1366&bih=643&tbm=isch&tbnid=AvHP2K2Bmnv70M:&imgrefurl=http://www.facebook.com/group.php%3Fgid%3D150270978337914&docid=ouEx2_fgkUj0kM&imgurl=http://profile.ak.fbcdn.net/hprofile-ak-snc4/50336_150270978337914_2150_n.jpg&w=200&h=216&ei=WP7NTqi3L4KMiAKhzbmBDA&zoom=1&iact=hc&vpx=1062&vpy=310&dur=230&hovh=172&hovw=160&tx=41&ty=120&sig=110643279581675664239&page=1&tbnh=149&tbnw=136&start=0&ndsp=19&ved=1t:429,r:11,s:

 

 

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