Month: November 2012

Following BP’s (British Petroleum), the worst oil spill in history, senior executive David Rainey scrambled for any source estimates of the spill size to trigger the company’s response to the catastrophe. Rather than turning to researchers and consulting experts,  allegations arise that Rainey turned to Wikipedia for estimates on the daily leakage. The online encyclopedia, which is virtually free for anyone to edit content, states that daily spillage was happening at  rate of 5,000 barrels per day , a figure Rainy defended adamantly, far less than the independent analysis reports of 62,000.  He is now under criminal investigation before a multitude of charges, including false testimony to the Congress.

Our professors in business class are constantly condemning Wikipedia is as a reliable resources for information whether that be for research projects or gaining a basic understanding of a topic. Though this online encylopedia may be a solid starting point to begin research, the fact that volunteers edit the content makes it less legitimate  This makes it  rather ironic how a senior executive working for one of the largest oil firms in the world, would base his  most important estimations from Wikipedia. Tying this all together, the legitimacy we based our decisions is vital, regardless of future path especially in business. Gathering the correct information from a reliable source will provide great dividends in gaining customer trust and loyalty.

Works Cited:

“BP Turned to Wikipedia to Estimate Size of Spill, U.S. Alleges.” Globe and Mail 11 Apr. 2012: n. pag. Print.

Digital image. Reuters, n.d. Web. 18 Nov. 2012. <http://s1.reutersmedia.net/resources/r/?m=02&d=20120411&t=2&i=593556590&w=460&fh=&fw=&ll=&pl=&r=CBRE83A1Q2Z00>.

After our class covering the Sauder Arc Initiative, I was quickly in intrigued to investigate what other the impact of other social enterprises initiatives in the opportunities across Africa. Personally, I feel that to many Westeners, when we initially think of Africa, thoughts of poverty, malnutrition, and injustice cross our mind. However, after hearing the stories of past students participating in the Arc Initiative, and reading an article from Timbuktu Chronicles , it evoked thoughts of potential, hope, and a passion for change had me rethinking the image of Africa.

I came across an article regarding  Maker Faire Africa social enterprise in Emeka Okafor’s blog, Timbuktu Chronicles. Maker Faire Africa is an organization that specializes assisting new entrepreneurs in Cairo in a variety ways, from informational workshops, technology tutorials and also build networks and internships with large local companies. Maker Fare promote their “DIY philosphy-Do It Yourself; design in yourself, make it yourself, and sell it yourself” and assist local entrepreneurs during each phase. Anyone who has an innovative product or service, receives feedback from trained entrepreneurs through constructive discussion during this learning process before entering the market.

The extensive education we are fortunate to receive here in developed countries can be used as instruments to creating a better life for those who are less fortunate. However, we must uses these valuable resources efficiently. In this case, rather than just donating money for the cause, Maker Faire Africa actually networks with local entrepreneurs by mentoring them through the process of small business.  This method of contributing is most effective, because these locals will have the business tool kit to succeed independently for the future.

Works Cited:

“At Maker Faire Africa.” Web log post. N.p., n.d. Web. 16 Nov. 2012. <http://timbuktuchronicles.blogspot.ca/>.

Digital image. Africa Unchained. N.p., n.d. Web. 16 Nov. 2012. <http://africaunchained.blogspot.ca/2012/05/maker-high-why-every-school-should-be.html>.

I found Christian Legazpi’s blog post regarding Starbucks’s entrance to Indian Market as relevant example to show barriers of globalization for expanding companies.  The thought of expansion into foreign markets seems like a viable next option for companies who are currently successful in their original market. I believe with thorough in-depth analysis beforehand and executed properly, a benefits of expansion for a company are limitless. However, I feel that some companies struggle in replicating their success from one market to another based on these main reasons:

• Cultural clash: Entering in a foreign market makes a company vulnerable to a “cultural clash”. In Christian’s blog post, he stated that India is “more of tea-drinking” country, which make hurt the profitability of Starbucks coffee. Companies cannot change a countries traditions or values, but instead adapt their products around this. For instance, Starbucks could look into introducing a tea line with a great variety to choose from, making it more feasible in the Indian market.
• General Demographics: Which age category does majority of the population fall under? A company must understand the demographics of the country to evaluate whether there product will be sought after. For example, Starbucks’s offers not only coffee, but also milkshakes and smoothies that would more favourable for younger generation.
• Establishing Brand Loyalty: When entering in a new market, a company will be targeting a whole new audience on a clean slate, meaning that establishing brand loyalty and presence will develop over the course of time. This means companies should let the market naturally respond which will require large quantities of  advertising and research resources.

Works Cited:

“Starbucks In India – An Uncertain Future.” Web log post. Christina Legazpi, n.d. Web. 6 Nov. 2012. <https://blogs.ubc.ca/christianlegazpi/2012/09/23/starbucks-in-india-an-uncertain-future/>.

I could really connect with Joshua Zhang’s blog post  , “A man’s shoe case: $800 for one or two centuries?”  on many levels. Currently, I work at Ingledew’s Shoes, a shoe store company selling a vast array of high end footwear for men and women. Specifically, Ingledew’s carries men’s brands much like the ones referred to in the article; worth over $500 for a pair. As noted, these traditional styles, like the 19th century black lace-ups, never seem to become outdated, but rather stronger in demand to this day. Loyal customer’s are reluctant  to spend close to $700-$800 for their footwear, and even more appealing with the Goodyear Wielding resoling technology that prolongs the life of a shoe for more than 15 years.

This article demonstrates the concept of brand loyalty and the internal marketing strategy that successful retains long-term customers. Regardless of the price for a pair, the customers will make repeat purchase over time, building a relationship with the certain brand. In this competitive market for high end shoes, there are numerous competitors selling a cheaper target price which exemplifies the how brand loyalty keeps these Northamptonshire companies afloat. In addition, these unique companies adhere to their traditional values by the continual production of their 19th century styles. Northamptonshire companies point of difference boils down to their traditional styles approach, helping their maintain strong brand loyalty even when the times are changing.

Works Cited:

“A Man’s Shoe Case: $800 Dollars for One or Two Centuries?” Web log post. Joshua Zhang, n.d. Web. 4 Nov. 2012. <https://blogs.ubc.ca/joshuazhang/2012/09/27/a-mans-shoe-case-800-dollars-for-one-or-two-centuries/>.

Digital image. N.p., n.d. Web. 4 Nov. 2012. <http://www.kaboodle.com/reviews/cheap-mezlan-shoes-mezlan-mens-13471-p-monk-strap>.