Have you ever thought why people pay thousands of dollars for a single purse?

The purse you see above is “Les Extraordinaires Corcodile”. The price is 33.000 dollars. Do you know why?

“Reinterpreted with a flap and in precious crocodile with a vintage, whitewashed patina, the Crocodile Old Speedy Flap is also the first of the season’s two Les Extraordinaires, available in a strictly limited, numbered edition.” (http://www.ilvoelv.com/2012/01/louis-vuitton-springsummer-2012-bag-names-and-prices.html)

This quotation explains it all. “Precious, the first, strictly limited, numbered edition.” and as you can understand “extraordinaires”. There comes the concepts of satisfaction, social statue, arrogance and greed. Having this precious and rare purse makes people feel so special that they are willing to pay 33.000 dollars which they can only put their sunglasses and phone.

As it is explained in microeconomics, these kind of goods are called “veblen goods” and their demand increases as price increases. Rolex watches, prada wallets etc. are all veblen goods which are overpriced and demanded more because of their high prices. These huge companies managed to affect people, be the best in their industry, and advertise their goods so well that they deserve to earn those big amounts. Not for the product, but for the effort they put in, and to be able to sell a purse for 30.000 dollars. Well what can we say, it is business…

Lastly, a little interesting fact that most of us know, but try to deny.

This little crocodile costs 50 dollars more

Images taken from:

http://www.ilvoelv.com/2012/01/louis-vuitton-springsummer-2012-bag-names-and-prices.html

http://www.mediabistro.com/unbeige/crocodile-dentists-win-lacoste-logo-legal-battle_b4457

Bibliography:

“Monogram Transparence.” Louis Vuitton Spring/Summer 2012 Bag Names and Prices Web. 08 Oct. 2012. <http://www.ilvoelv.com/2012/01/louis-vuitton-springsummer-2012-bag-names-and-prices.html>.

Can you define football as a business, as an industry?

“Businesses are driven by the need to make money and trumpet their profits to their investors or owners. But all football teams care about is winning for the fans.” (http://news.bbc.co.uk/2/hi/business/1898854.stm) So football teams can not be defined as proper businesses according to the definition.

But still, no one can deny that football is an industry that advertises companies, that gives millions of job opportunuties, that increases touristic incomes, that triggers nationalism, and something that psychologically brings people together. It gives job opportunuties to people with low educational level or high educational level. During a game, there is no difference between the richest and the poorest. When your team wins a game, there is nothing that can make you happier in that particular moment. While watching a national game, people forget about wars, economical crises, global warming and any kind of problems. It brings togetherness.

Everyone can say football is a vicious circle, earning money and spending more to grow, but the fact that they produce happiness and togetherness can not be ignored. It is the biggest profit and it is what people need, even more than money. The amount that players earn is not even worth talking about, they deserve every penny of it.

Image taken from: http://www.usfamanagement.com/suivi-et-gestion-de-carriere/departement-recrutement/prestations-de-servicesprestations-de-services/attachment/soccer-football-business/

Bibliography:

“The Business of Football.” BBC News. BBC, 28 Mar. 2002. Web. 08 Oct. 2012. <http://news.bbc.co.uk/2/hi/business/1898854.stm>.

Competition is a bit different in Turkey

Two fast food restaurants, two huge brands. McDonalds and Burger King. Statistics shows that McDonalds is much bigger than Burger King, but this situation is different in Turkey.

In 1986, McDonalds opened the first foreign fast food restaurant in Turkey and started the first franchising system. Burger King opened it’s first restaurant in the year 1995 and it’s not wrong to say that Burger King is more popular in Turkey at the moment.

In the year 2000, McDonalds had 131 restaurants in 25 cities, and Burger King had 100 restaurant in 22 cities. With these numbers, Burger King Turkey managed to be the fastest growing franchising company in the world.

Burger King kept the progress, McDonalds couldn’t use the advantage of being first. Burger King, opened their 300th restaurant in 2010 and Turkey was the second country after USA with 314 restaurants. Although McDondals entered Turkish Market 9 years before and although they are more popular than Burger King in most of the world, they still have about 180 stores in Turkey and they are far behind of Burger King.

As a Turkish citizen, I prefer Burger King. Why? Burgers are bigger, meat is tastier (they use grills which Turkish people love) and at the moment, it’s easier to reach Burger King since they have more restaurants.

If you ever go to Turkey, especialy Istanbul, just ask people’s preferences about Burger King and McDonalds. Here is the exact answer you will hear.

“Burger King’s Hamburgers, McDonalds’ fries”

Images taken from :

http://insomnium-blog.blogspot.ca/2011/12/mcdonalds-vs-burguer-king.html

http://fastfoodfasttimes.tumblr.com/post/1346663579/all-about-the-grill-marks

Bibliography:

“Burger King 300’uncu Restorani Acti, Turkiye’yi ‘dünya Lideri’ Yapacak.” Web. 08 Oct. 2012. <http://www.hurriyet.com.tr/ekonomi/14363301.asp>.

Turkiye’de McDonald’s.  Web. 08 Oct. 2012.<http://www.mcdonalds.com.tr/turkiyede-mcdonalds_1_7>.

Ceylan, Emre, Mr. “Burger Savasi Kizisti.”  Web. 08 Oct. 2012. <http://arsiv.ntvmsnbc.com/news/33946.asp>.

How can ethical values affect individuals’ career?

Ethics are “moral principles that govern a person’s behaviour or the conducting of an activity” (http://oxforddictionaries.com/definition/english/ethics.) As it can be seen on the diagram above, it can be analysed in different categories. Personal ethics can be contradictary to most of the daily life events, but how can it affect a person’s business life? Can ethics be the barrier in front of someone’s career? Do you sometimes have to forget about all your moral&ethical values and just do what your boss tells you to?

Business life is greedy, merciless and callous. In order to survive, you have to be straightforward and strict. Holding on to your ethical values will just pull you back, and prevent success. It sounds cruel and wrong, but sometimes, someone has to do the wrong to achieve success, which is the fact of today’s business life.

Just a small advice, personal life and business life should be kept seperately. Whatever you do for your job can’t determine who you are. At the end of the day, forget about everything and enjoy your life. Life is too short to care more about others than you.

Image taken from:

http://graphicleftovers.com/graphic/ethics-types-business-diagram-7/

Bibliography:

Definition of Ethics. Web. 08 Oct. 2012. <http://oxforddictionaries.com/definition/english/ethics>