Lydia Lin's Blog

Image from ActivePBX

In Duct Tape Marketing, a blog for small businesses, Abby Perkins talks about how using social media can enhance customer relationship and build better reputation for businesses. When using social media, companies can approach customers on a more intimate level and also respond to concerns or requests faster than in-store visits. Using it also allows customers to provide their opinion on the businesses faster and thus enhancing the chances of more circulating positive feedbacks about the company.

In my opinion, despite the many potential growth areas that social media can provide small businesses, it is also in a way limiting the businesses. Because most active users on social media are 18-29 years old, focusing customer service on social media is in a way limiting the customer segment of the business, especially if the business is related to products that can be used by people of all ages. Also, in order to invest in a strong customer service on social media, companies will have to be successful to a certain point so that it is capable of hiring a team that devotes its time to responding to customers on social media. Thus, using social media as a platform for customer service may not be the right move for every company.

If I casually tell my friends at UBC that I have helped the people at where I am from construct their houses before, most of my friends would be be in awe of the difference in experiences. This is not because my friends are particularly wealthy or because they are ignorant; this is because the fact that there are so many people who need the help of others to provide them shelter, even the help of students, is not made aware enough.

During the construction of the wall of a house | Korat, Thailand 2013

Because I grew up in Bangkok, Thailand, I was exposed to not only the advanced technology of the modern world but also to the extreme poverty of some people with the lack of education and opportunities. I strongly believe that this is why social enterprises are necessary. Not a lot of people are even aware of how difficult it is to start a business for some people; they may not have access to funding, innovative ideas, or well-formed business plans. Thus, even if the United Nations was fully funded, often times the funds are spent on issues that are widely known. Other small issues that are critical to some people are often ignored, and this is where the Arc and social enterprises need to step in in order to make changes to people’s lives.

Starting off strong, then sharply losing its popularity for a while, BlackBerry recently came out with the Passport and has been trying to come back into the game in the smartphone market. Chen, its current CEO, is seeking to expand into China’s market, which he describes as huge but highly competitive.

In China, Xiaomi currently tops the percent share in the smartphone market. Chen recently met with Xiaomi’s CEO in order to discuss a potential business between BlackBerry and Xiaomi. China’s smartphone market is huge due firstly to its vast population and secondly to its rising standard of living.

CEO Chen holding the BlackBerry Passport

I believe that the BlackBerry Passport, which utilizes the focus strategy (differentiation), sets itself different from other smartphones by targeting mainly businessmen who seek convenience and efficiency while using smartphones. This conforms nicely to China’s market, and I think for BlackBerry China’s market would not be too hard to enter. This is because the rising standard of living in China leads to more businessmen and thus more demand of devices that would make business more convenient.

By potentially working with Xiaomi, BlackBerry is redirecting its course after losing popularity for a while in North America. I believe that with product uniqueness, BlackBerry can easily target businessmen of China and establish a position in China’s smartphone market.

Image credits: CBC News

Starting off as a hotel and restaurant tea supplier, Tealeaves redirected its business to include the individual tea lovers in their consumer segment due to market pressure. How? By investing $1.5 million into short films that would direct its consumers through the tea journey, from the tree to the cup.

In their short films, Tealeaves features activities such as yoga, touring, and even eating, to allow consumers to feel like the tea story is relatable. This, in the long term, can contribute to brand recognition and even brand loyalty, as long as consumers think about Tealeaves’ tea when doing such activities.

Videos from Tealeave’s Website

Coming from a culture that drinks tea daily and a family that is also a tea supplier, I feel that Tealeaves’ redirection of consumer segment was necessary if the company wanted to expand. A lot of individual tea lovers, like myself, take joy in the ability to brew tea whenever and wherever, at a restaurant or not. Thus, Tealeaves’ redirection is making this ability its value proposition.

Tealeaves is also using the differentiation strategy, because what makes Tealeaves’ products different from other tea companies’ is that its products are relatable, via short films, to its consumers. Thus, by investing in short films, Tealeaves is allowing its customer segment to expand and building its reputation in the tea industry.

It is no small news that Taylor Swift recently removed all her past music on Spotify, making it unavailable for streaming to Spotify users. However, her music is still available on several other websites, such as Rdio and YouTube. The main reason as to why she and her label decided to make her music unavailable for free streaming is because if it is available for free streaming then no one would buy her actual album. In my opinion, her action is justified by the fact that her music, which is her product, should be able to bring in revenue. If consumers are able to use Taylor Swift’s products for free, like any other producer, how is she going to make a living?

Taylor Swift is not the only or even the first artist who are unwilling to provide music for free streaming online. But what I believe Taylor Swift and these other artists are failing to take advantage of is the fact that free streaming can potentially contribute to publicity and popularity. By allowing free online streaming, artists can target the younger customer segments who are active Internet users. Thus, there are pros and cons as to artists making their music unavailable for free streaming online.

The Supreme Court of Canada recently ruled that Aboriginals can claim land in Canada. Because Aboriginals living in Canada have always had issues with borders and territories, this move reserves rights for these groups and shows respect towards borders. While this may seem like a movement towards peace, I believe that there would be several economical and financial consequences due to this move.

Enbridge Inc. is planning on moving its Northern Gateway pipeline from Alberta to British Columbia. This is so that the pipeline could shipments to Asia. Part of the ruling involves a piece of land in British Columbia that is 1750 square k.m. This means that the ruling may have an impact on Enbridge’s plan, because any project commenced on claimed land without consent may be forced to cancel. Enbridge’s original plan, which would save the company thousands of dollars for not only the company but also for Canada, may be affected by this ruling that is trying to foster Canada’s internal relationships.

This sparks a question – if such a ruling could have a major economic impact on Canada, is it worth it for First Nations to own land?

Original article: http://www.businessweek.com/ap/2014-06-27/canada-sees-landmark-ruling-on-aboriginals-land

It is no news that Lady Gaga is coming up with something new again – something the other mainstream artists do not dare tackle on. This time, she is bringing jazz back with the iconic Tony Bennett, and her newest album “Cheek to Cheek” has sold so many more copies than how much one would expect from a genre that is “a dying art form.”

Lady Gaga first came into spotlight when her album “The Fame” was released, and the album targeted young audiences looking for something different but catchy. She was and still is known for her queer costumes, and her “little monsters” who generally want to be different from others love her for her uniqueness. Then when “Born This Way” was released, the album targeted the same young audiences but this time expanded to include the LGBT supporters. Then “Artpop” came and it targeted artsy audiences who still expect Gaga to come up with catchy music. So when Gaga started tackling on jazz, her targeted audience changed so much it could have been a fatal move for her if her little monsters cannot follow the sudden change.

Risks aside, Lady Gaga was able to fulfill a customer’s desire that has existed since “The Fame” – a desire for music that is not just cuss words or sex-related but catchy and beautiful to sing. “Cheek to Cheek” is still able to do that with its jazz components, and that is why it is the current number 1 on the Billboard 200.

Picture credit: http://ladygaga.wikia.com/wiki/Cheek_to_Cheek_(album)
Original Article: http://www.businessweek.com/articles/2014-10-03/how-lady-gaga-and-tony-bennett-sold-131-000-jazz-albums

Leon Zhou’s article on 7-Eleven’s introduction of a convenient and healthy food line tackles on the idea of whether 7-Eleven defined its food products’ healthiness well enough or not. Traditionally, 7-Eleven is known for providing a big variety of products including snacks, drinks, small appliances, and pretty much any emergency items. It is also known for its own line of food products, including sandwiches and other small meals. By offering these small meals, 7-Eleven provides its customers something they cannot find in their traditional line of products. They offer actual ‘meal’ instead of packaged instant noodles or chips, and to consumers these meals sound like healthier alternatives. In the value proposition canvas, this would be a gain creator.

A problem addressed in Leon Zhou’s blog post is that would the introduction of a healthier line of food products affect the sales of the other products? I personally do not think so. As he said, the healthier juice can seem pricy when compared to 7-Eleven’s Slurpee, which is part of its own line of food products. The price can be a “pain” in the value proposition canvas. However, it does satisfy customers because they would probably be eating even healthier alternatives that they can take away conveniently. There will always be customers who look for bags of chips or a cool Slurpee during a hot summer day. Tony Horton’s healthy line of food provides satisfaction to health-conscious consumers, while the other line satisfies the general public’s needs.

Image from Wikipedia.org.
Original Article from USA Today: <http://www.usatoday.com/story/money/business/2014/09/30/7-eleven-convenience-stores-fresh-food-tony-horton-nutrition/16424751>

As college freshmen, we all have heard at least once in our life about how hard it is to get a job after graduating. After all, “college diploma is not the only thing.” Companies look for experience, and it is hard to gain experience when no companies would hire someone fresh out of college. However, there is a recent trend where some major companies look for people fresh out of college with little to no actual experience to work for these companies. Why? That is because these people’s ideas are not yet limited by the realistic values businessmen gain over time in their fields. These students are looking for opportunities to work and gain experiences, while companies are looking for ideas above and beyond the normal and expected.

I personally think that this strategy is beneficial to both employers and employees. While there are risks associated with hiring a recent college graduate, his proposals and suggestions may be different from what companies are used to hearing. He may try to prove it to his employers that his ideas are not unrealistic or impossible, and his motivation to prove it can be a driving force within his employer’s company. I believe that while accumulated work experience is key to surviving in any area, new and fresh ideas are also keys for companies to survive in the market.

Photo from head4success.com.

Article: http://www.businessweek.com/articles/2014-09-24/amateurs-can-solve-certain-business-problems-better-than-pros#r=nav-f-story

As part of a recent trend among business school graduates in several top-tier universities, an oath is spoken and signed at graduation concerning the pledger’s actions as soon-to-be businessmen. In the Harvard MBA’s case, approximately 20% of the class of 2009 sworn that “[they] will manage [their] enterprise with loyalty and care, and will not advance [their] personal interests at the expense of [their] enterprise or society.” [1] This  is a very clear example of the so-called “social responsibilities of business in a free-enterprise system,” [2] the ones that Friedman says should not be called thus. This is because the only social responsibility of business is “to use [its] resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.” [2]

The next generation in the business world is going to be made up of the recent business school graduates. As these people enter the business world, they may feel obligated to decrease the percentage of poor people and create a peaceful community. In Friedman’s ideology, their sole obligation as part of the business world is “to increase their business’ profits.” [2] A business’ responsibility may be only to increase its own worth and expand in order to gain more money, not the common obligations we can think of. When Harvard graduates make their oath, they are proclaiming their own individual responsibility as part of a society and not the responsibility of the business they would join.

[1] http://www.nytimes.com/2009/05/30/business/30oath.html?module=Search&mabReward=relbias%3Ar%2C%7B%222%22%3A%22RI%3A12%22%7D

[2] http://site.ebrary.com/lib/ubc/reader.action?docID=10187339&page=171