A recent Globe
and Mail article makes an interesting tie between Steve Jobs and Canada.
The article starts by discussing the difference between invention and
innovation. The article states that Job’s accomplishments came through the
innovation and improvement of already invented products. Apple didn’t invent
the touch screen, mouse, or smart phone. However, his ability to use the
technology of those products and innovate something creative from them led to the
magnificent success of Apple. The article believes that Canadian government
needs to focus more on innovation to stay modernized. “With global competition
and low-cost jurisdictions like China, India and Brazil more quickly than ever
before replicating and producing at lower costs everything we do, we need to be
an innovation nation.” I believe the article makes several valid points. Canada
is facing stiffer competition with foreign states who produce the same product
at a lower price; for example, Sheer-Wood shifting production from Canada to
China to reduce costs. Canada does not need to invent a new way to keep
producers producing in Canada – rather they need to innovate old ways to entice
producers to stay local. How to do this? That is up to the great minds in
Ottawa.

There is no doubt that Apple is one of the most successful,
innovative companies ever – they fit the term entrepreneurship in every sense
of the word. Steve Jobs and Steve Wozniak started Apple from scratch in 1976.
These two visionaries started off in a garage, just like many other small
companies. They started off as the stereotypical entrepreneur; two people
assuming the risk of an enterprise and trying to build it into something huge.
Unlike many, Apple was able to become huge. Over the past ten years particularly,
Apple has revolutionized the way we live; first with the iPod, then the Mac
Books and most recently the iPhone. Apple certainly fits Schumpeter’s view of
entrepreneurship. This empire takes risks with fascinating new innovations,
they have created new markets, and expanded the ability for humans to interact
and go about daily activities.

There are several different views as to what an entrepreneur
really means. Apple is one of the few, if not only companies who at one point
or another have managed to encompass each definition someone comes up with for entrepreneurs.

Steve Jobs and Steve Wozniak hard at work

Vip Picture

Business blogger, Chris Brogan recently blogged about a
roof-top party he attended. He commented on how he and many of the other guests
felt that the scenic roof top view, red velvet ropes, good food, and
entertaining DJ felt as if they were VIP’s. He explained how this VIP feeling
added to the experience of the party and concluded by challenging businesses to
consider how they invoke a VIP feeling into the community and what it would do
for their business. I believe Brogan could take it one step further and
consider how businesses could use the VIP feeling within their business to strengthen
their internal affairs. A company which has considered this is Zappos. This
online shoe company has ensured that its workforce has free food, great
benefits and a fun, engaging work place. Zappos human resource department has
made workers feel important which in turn leads to more production from their
workforce. I believe Zappos has gone about their interactions with employees in
the best possible way. Building a strong internal rapport with that VIP feeling
is critical for any business to be successful – Zappos is prime example of
this.

A recent Globe
and Mail article discusses how Blockbuster Canada’s financial situation is
circling closer to the drain and how unsecured Canadian creditors are likely to
walk away with nothing. The receiver made the decision to liquidate the company
to pay back secured creditors, unfortunately according to the balance sheets,
Blockbuster Canada has no money left and the company is left to face the dark
hole – bankruptcy. Blockbuster’s crisis is a good example of what happens to a
company which is not sustainable. Socially, Blockbuster was unable to adapt to
a changing market from DVD’s to online viewing and that issue was the catalyst
which has lead them to the brink of bankruptcy. If Blockbuster had paid closer
attention to the shifting market, and adapted to the shifting market, then
their situation today could be much different. Blockbuster also failed to focus
on their economics. With the increased substitutions on the movie rental
market, Blockbusters economic situation was changing and it seems as though
Blockbuster Canada had no sustainable economic plan. Poor planning and an
unsustainable business plan have lead Blockbuster to a bust.

Is it a surprise that the big television networks are seeing a decrease in ratings? A Financial Post article describes how broadcasting stations such as Canwest Global and CTV are seeing a drop of viewers in their primetime slots weekdays from 8pm – 11pm. I don’t believe these new numbers should be a shock for anyone in the television industry. There is a very simple explanation for a drop in ratings – viewers hate watching commercials. Commercials are annoying to watch repeatedly and naturally, people prefer to watch an hour long program in forty-five minutes commercial free. Consumers now have multiple substitutes of watching their favourite shows without commercial. Most people have the ability to PVR shows and fast forward through advertisements. Those that don’t own a PVR can simply find their show on the Internet for free and indulge in the latest shows. Consumers also have the option to purchase an entire series of their favourite shows after the season is over. With all of these options, consumers can spend their evenings working, with their family, or watching other shows. They don’t need to worry about missing that new episode because they can find an alternate mean to watch it.

Devan Wiebe’s blog indicates that Apple is playing up Steve
Jobs death by setting up store shrines to lure grieving consumers into the store
– this is an appalling way to do business. After reading the article posted on
Devan’s blog I came to the following conclusions.

I understand that many consumers may purchase Apple products
because of Steve Jobs death. This consumer behaviour was seen after the death
of superstar Michael Jackson – after his death, there was a massive increase in
sales of his music. The fact that consumers choose to purchase goods because of
Job’s death is out of Apple’s control and I don’t believe that is unethical.
However, when Apple is setting up ‘shrines’ in store windows with the hopes
that it will ‘lure’ consumers to purchase Apple merchandie is crossing a line.
The word ‘lure’ has the connotations of enticing and trapping people into
something, and that is exactly what Apple is doing. They are embellishing the
death of Steve Jobs to entice consumers to buy more Apple products. Using the
death of a visionary is not the way to honour a man who has done so much for a
company.

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Paying for expensive commercials and cheesy radio ads have
certainly been the norm of marketing. However, similar to the evolution of music
and technology, the tactics of marketing are evolving. Currently, large corporations
have a massive marketing advantage as they can afford expensive commercials to
pull customers in. While outbound marketing methods are still being used,
everyone is incorporating inbound marketing methods into their marketing plans.
The idea of inbound marketing is that consumers are smarter and have a
different mindset when purchasing products. Businesses are noticing that
consumers are responding more towards search engines, user friendly websites,
and social media like Facebook and Twitter. The obvious advantage to inbound
marketing is cost. This certainly levels the playing field between smaller
businesses and large corporations. On the flip side, the huge risk involved
with inbound marketing is that there is no guarantee that consumers will
actually find your website or ‘like’ your Facebook page. I believe in the
importance of evolving with trends whether they are technological or about marketing.
Large businesses who can afford commercials hold the upper hand, any businesses
who don’t incorporate inbound marketing are making a critical mistake!

Word Count 192

Sammie Chan’s blog post about a consumer who lined up for the iPhone 5 a month before its launch date provokes some interesting thoughts. There are some products, whether it is a movie premier, a bestselling book, or a new model of a fancy toy that will
cause consumers to line up for hours. The iPhone line certainly fits into this prestigious
category. However, I think it is silly to waste hours on end just too impulsively purchase a product which could be bought a week later line up free. Rob Shoesmith is exaggerating that point by waiting outside an apple store for a month awaiting the iPhone 5. I heard on the radio that 33% of consumers would purchase the iPhone 5 without even looking at it! That statement alone shows how the apple brand dominates our culture. Consumers need to wake up and realize their time and money can be spent much more effectively. Shoesmith is making this point while getting publicity for his app development firm as well as heaps of donated swag from companies sponsoring his stakeout. Genius!

Sportsnet, previously known as Rogers Sportsnet is Canada’s
second largest sports broadcasting network behind TSN. Sportsnet is hoping that
their new name, a fresh TV set, new logo, and the launch of a new magazine will
create a stronger brand identity.

According to the Globe
and Mail article, Sportsnet conducted a marketing survey and results stated
that only 24% of people could identify their logo! The network realized the
magnitude of this issue and has worked towards solutions to strengthen their identity.
The launch of their secondary station (Sportsnet1) and magazine ‘Sportsnet’
are two key additions to their brand. This shows consumers that Sportsnet is
not a small network that works in the shadow of TSN. Moreover, a magazine in
stores and an extra channel will produce more buzz about the network which will
lead to more viewers.

Dropping Rogers from Sportnets name symbolizes Sportsnets
change from a young developing network into one which will compete with the top
networks. There final touch of a new slick logo completes the makeover. These
changes are genius with little risk. They aren’t changing what they produce,
rather they are changing how Canadians will identify them – a leading sports
broadcast station.

Word Count: 198

http://www.bbc.co.uk/news/business-14921740

The discussions about climate change on our planet have
grown immensely over the past decade. Scientists concerns of global warming
have seem to hit home with everyone. Are ethics in business related to global
warming? Absolutely! Large corporations have the moral responsibility to ensure
they are practicing their businesses in as many environmentally friendly ways
as they can.  Consumers are mindful of
how products are built and their impact on the globe. The article discusses how
the Carbon Disclosure Project stated that large corporations are now sharing
their climate change plans and are implementing solutions to minimize their
carbon footprint. Data has shown that these companies are performing better on
the stock market. I believe we see this correlation because everyone wants to
reduce their carbon footprint and are more likely to buy from the ‘greener’
company. This is proven in the article when we read “Almost 60% of reported
actions to reduce emissions saw a payback of three years or less.” Businesses
models are changing because consumers want green products.  These models are working as many companies are
recovering the extra cost of going green in a relatively short time frame. It
seems as though going green is a win for all. Consumers feel confident in their
green choices and businesses are acting more ethical towards the environment
while still meeting their bottom line.