Thinking of a original creative idea is the first step towards any successful business. this article in the business insider shares with us 40 most interesting entrepreneurs that are under 40 and in this post i will talk about some of the ones i found most original and interesting and motivating. These businesses also use internet and latest information technology to run their business.

Nasty girl, a website owned by a 29 year old started in 2006, is a vintage women’s clothing retailer and was named he fastest growing retailer by Inc. magazine last year. This is run by a girl who has a tremendous fashion sense and made use of it to benefit herself and run a business.

Another very interesting idea is the Birchbox,owned by Katia Beauchamp and Hayley Barnait is said to be the Netflix of beauty. This unique business send customers a small box by mail filled with high end beauty products for a monthly cost of 10$ based on each customers personal beauty profile.

Learnvest.com is a website that helps people, especially women control and manage their financial spending. This is run by Alexa Von Tobel, a 30 year old entrepreneur motivating young women too think about and implement their ideas.

Jonah Peretti, the founder of Buzzfeed also made the list. His unique and innovative way of list based journalism approach attracts almost 85 million monthly visitors.

Customer feedback as i learnt in my Comm 101 Performance management class is a Customer metric to measure how well the business is doing in terms of happiness of customers.

An article in the business insider how customer metrics like satisfaction surveys and other feedback can help companies grow.In the IT systems class we talked about how using information technology like social media, websites and online surveys companies can gather customer feedbacks and take actions and decisions based on this.

The article mentions that customer feedback is very important for businesses to build good customer relationships, thus a positive review from people.This also helps companies understand what customers like and what they don’t so they can take decisions based on that for example if a wedding business asks for customer feedback and get to know that most customers like light coloured decor they would make use of that information and make customers happier in future. This further gives companies a constant opportunity and ideas to improve and therefore progress and beat competition.

Gathering customer feedback can help companies improves in branding, marketing and strategic decisions and with the help of information technology these days this is not very expensive to cater to either, keeping the accounting department happy too.

Walmart: The High Cost Of Low Prices FULL MOVIE

The link above is a documentary of one of the world’s biggest retail store, Walmart which offers the lowest prices for its customers on a variety of products. According to Porter’s Generic Strategy grid, this company falls under the broad cost leadership box as discussed in class. This documentary however makes people aware of how the businesses manages to do so and what the consequences are.

The following article talks about how the film accuses Walmart of keeping its workers in poverty by paying low wages and charges high health benefits costs,causing small businesses to become bankrupt, and being unconcerned about the environment in the process of making high profits. Walmart’s strategy is based on faithlessly cutting costs, allowing it to mark down its competitors, being the reason for its tremendous profits.

Labour experts and former employees were interviewed to figure out all these internal detail. This leads to great various ethical issues and links to the argument discussed in class about integrity of business, social corporate responsibility and how companies should realize whether it is okay to make enormous profits at the cost of sacrificing ethics.

Also, it leads us into the thinking about the fact that how businesses with low cost strategies are able to pull them of and what the real hidden cost behind their strategies are.

Young college student and people from low income families on a low budget are inclined towards Fast fashion clothes from companies like Forever21 and H&M who offer great up-to-date new designs and variety of clothes for low costs. But is there an unseen cost behind that?

These companies are found to be violating the employee rights and ethics. Workers are not paid adequate wages on an hourly basis but are oused to hard to make as many clothes in a shorter time-span and are paid for the number of clothes they make in terrible working conditions. My fellow class fellow Vivian Jung in his blog post also highlights this issue linking it to lack of social responsibility.

This emerging and rapidly growing trend of Fast fashion seems to neglect the corporate social responsibility businesses have and violates labour standards and intellectual properties rights as companies like forever21 have been sued various times for copying designs of other companies. The following blog also analysis the company Forever21’s unjust treatment to their employees in order to produce cheaper clothes at a faster pace.

The consumers enjoy low priced clothes with great designs and are blinded by the effects and consequences of producing those clothes for workers.