“If  the United Nations was fully funded why would we need the Arc or social enterprise”?

The United Nations, which was instituted in 1945, formed as a result of the world’s nations failure to prevent the outbreak of World War II. Now, it is known as a peacekeeping association, bringing health and aid to nations across the globe. Regardless of being fully funded, the United Nations needs social enterprises as the next step in  innovating autonomy and creative business in various regions. For example, as the Skoll World Forum reports, “Muhammad Yunus [was the] recipient of the 2006 Nobel Peace Prize…”. He… [offered] microloans [to] the impoverished in Bangladesh in 1976, [and empowered] them to become economically self-sufficient. This seemed to create a ripple effect in the worldwide community. Soon, the social needs signaled the coalescing of a unique type of entrepreneur- the social entrepreneur. A prominent social entrepreneur featured in the Globe and Mail, whose clothing was worn by Michelle Obama, is Maryanne Mathias ..[the]  co-founder of Osei-Duro clothing; a social enterprise that produces fashion-forward clothing in Ghana, West Africa, that emphasizes hand-dyed fabrics and offers employment opportunities in the local community.

Village in Burundi, Africa

It is essential that those receiving social aid are building their fundamental skills to sustain themselves and improve their livelihood. Social enterprises are the United Nation’s channel to bring consistent positive growth to our global communities.

Sources: 

http://skollworldforum.org/about/what-is-social-entrepreneurship/

http://petergostelow.com/thebigafricacycle/wp-content/uploads/2013/07/9184107658_f2bc2f014e_h-1024×680.jpg

http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/going-global/production-problems-nearly-unravel-high-end-fashion-label/article14286870/

What makes one generation different from the next? Is technology the driving force between generation gaps? As provided through our supplementary readings, the Financial Post states that” Millennials, or Generation Y, have significantly different values, beliefs and lifestyle from the Baby Boomer generation, differences that organizations are having to adapt to for the simple reason that Millennials will dominate the workplace in the coming decade”.

During Class 19, which focused on Organizational Behaviour and Human Resources, we debated if the employees are the core of company culture, or if the CEO’s vision of the company influences their employees. The former, as shown through multiple studies, proves “values, beliefs and [lifestyles]” are changing rapidly.

According to a Millenial study, “45% of Millennials will choose workplace flexibility over pay; 72% want to have a job where they can have an impact; [and] in an MTV Survey, Millennials want… to set their own hours and dress how they want.”

This is where HR steps in, to reform and re-organize a company to better serve their customers. The way I see it, Human Resources Management is not required to acquire a certain skill set applicable to their workplace, such as that of accountants or financiers. However, those in the HR Department, certainly have one of the most taxing jobs, having to constantly study and reform organizational models that will be the right fit for the incoming generations in the workplace.

Sources: 

http://business.financialpost.com/2013/09/16/like-it-or-not-millennials-will-change-the-workplace/

http://blog.up.co/wp-content/uploads/2013/08/Group1.jpg

http://www.mediapost.com/publications/article/170109/turning-on-the-no-collar-workforce.html#ixzz1paoMEf5A

http://millennialbranding.com/2013/gen-workplace-expectations-study/

Poverty, is not an unfamiliar subject to me. My family originated from the Philippines where destitution runs rampant. In spite of this, it is extraordinary to see what people can achieve, given the “right tools”. This is evident in Daisy Barengetuny’s story; as presented by Marc and Craig Kielburger who are contributors to the Huffington Post.

With insufficient funds to attend high school, it seemed inevitable that Barengetuny must “scratch a living out of the dry, barren earth, as her parents had done before her. But when Barengetuny was 19, development workers began travelling from village to village by motorcycle, including her community of Motony, introducing women to the micro-finance ‘merry-go-round’.”

Regular contributions were collected into “a common pot” and every month, “one woman received a lump sum to invest in her own business idea”.

“Daisy Barengetuny with one of the goats purchased by her expanding business.”

Photo credit: Matt Finlin

This is where Daisy Barengetuny seized her opportunity. Identifying the needs in her community, she capitalized her funds by making milky masala chai for dehydrated farmers. Eventually, Barengetuny went on to open a small shop in order to sell a selection of goods. She has now established herself as a resident businesswoman in her village.

As shown in “The Triple Bottom Line” the development workers who planted this micro-finance “merry-go-round” provided a socially responsible aspect for Motony. This forward thinking has bettered the lives of Daisy Barengetuny and her community, and makes me feel elated wholeheartedly. As a firm believer in social justice, I hope more business’ and social enterprises will look into investing in minute ventures.

Sources:

http://www.economist.com/node/14301663

http://www.huffingtonpost.ca/craig-and-marc-kielburger/microfinancing-women_b_5697699.html?utm_hp_ref=we-day

http://images.huffingtonpost.com/2014-08-21-081614DaisyBarengetunyPhotoCreditMattFinlin.jpg

Discerning where to invest one’s money will always remain a liability, or risk, for firms. As discussed during our Finance 1  class, most startups will seek out venture capitalists. In this article, Intel Capital, as of November 4th,2014, “ announced $62 million of investments in 16 young companies…”. Arvind Sodhani, the head of Intel Capital indicated that “in the  technology continuum that runs from wearables and the Internet of Things to big data analytics – and everything in between, including silicon, smart devices, PCs, the cloud and data centers.” Undoubtedly, for Intel to invest such a large sum of money, especially in startups, is a huge risk. To minimize this insecurity, companies must conduct thorough research and testing methods. This enables them to build confidence in hopes that their investment will be rewarding, and that the success of their venture is sustained. For instance, Rovio’s profits grew rapidly when Angry Birds was introduced. However, as stated in our readings, it seems as if this growth was short lived. Looking for a simpler structure, Rovio “[planned] to cut up to 130 jobs in Finland, or 16 percent of its workforce”. 

Personally, I would re-evaluate investing $62 million, as I handle my money conservatively. If I were in the position of Arvid Sodhani, I would also be hesitant to finance startups involving drones, especially because of the misuse and controversy surrounding this new technology.

But what is the probability that these investments will be a success? We’ll have to wait to find out.

“…maybe sometimes it’s riskier not to take a risk. Sometimes all you’re guaranteeing is that things will stay the same.” – Danny Wallace, Yes Man. 

Sources:

http://www.goodreads.com/quotes/tag/risk-taking

http://www.forbes.com/sites/georgeanders/2014/11/04/drones-and-eye-trackers-inspire-intels-62-million-venture-spree/

http://www.theglobeandmail.com/technology/gaming/gaming-news/angry-birds-maker-rovio-to-cut-up-to-130-jobs/article20889656/

http://cdn.bgr.com/2013/06/intel-sign-23.jpg

If there’s anything I’ve learned from the Entrepreneurship presentations by Emma from Zimt Chocolates and Amielle Lake of Tagga, it’s that pursuing an and entrepreneurial career is a constant uphill battle. There are, however, rare instances in which companies prosper more quickly than others. This is the case of Chelsea’s Chocolate’s based in Craighurst, Ontario.

In this Globe and Mail article, Laurie Thompson, a former sales representative for an Ontario winery, “introduced the proprietors to a chocolate liqueur, which soon found its way into their truffles”. Coincidentally, “the two owners, who had started the company in their basement in 1995, were getting ready to retire and wanted to sell to someone they liked. Ms. Thompson was their choice”. Now earning 50% more than original retail sales, Laurie Thompson and her husband are reaping the rewards.

As Amielle Lake advised during her presentation, focusing on one’s value proposition is integral to determine the brand and firm’s direction. Chelsea’s Chocolates has leveraged themselves as a microbusiness by being open 7 days a week and providing freshly made chocolates to their customers daily.

Additionally,  Amielle’s motto, “I have more greed, than I have pride” applies to Chelsea’s Chocolates previous owners. Laurie Thompson, the current proprietor of Chelsea’s said it best, “When you own a small business, it’s your baby, you put your heart and soul into it, so you want to see it succeed further when you retire.” Luckily enough, Thompson has succeeded in doing so. 

Sources: http://www.theglobeandmail.com/report-on-business/small-business/sb-tools/chocolate-makers-enjoy-sweet-taste-of-success/article20982609/

http://zimt.ca/

http://www.tagga.com/

With one too many firms heading in the same direction, points of difference has slowly developed into points of parity. No longer are ethically sourced coffee beans a unique aspect of a coffee company – in fact, it has become the norm. So how can companies differentiate themselves with similar values and features? The answer is shock factor! Brand focus is slowly becoming an integral segment of my blog, and for this post, I will be concentrating on BC’s local organic breakfast cereal company: Holy Crap.

Like most “healthy” breakfast cereals in the market, Holy Crap advertises “tasty, gluten-free, [and] non-GMO organic breakfast cereals”. But what has caught the attention of the public initially, is its brand name. Originally named “Hapi Foods” the first ten bags were sold at Sechelt Farmers Market in May 2009. “When one of their very first customers said, ‘Holy Crap… this is amazing!’ [In that instant] Brian [Mullins]  changed the name to Holy Crap. Sales increased 1000% – from ten bags a day to over one hundred.” 

As Paul Cubbon stated, in his Part 1 of his Consumer Behaviour and Marketing Research video, personal memory and processing are factors that we “must lay out… so we can unpackage consumer behaviour.” From this brand, it is apparent that shock factor allows a story, and in this  case, a company’s name, to be entrenched in the memory of the customer.

Sources:

http://holycrap.ca/about-corin-mullins-and-brian-mullins/

http://www.kaltura.com/index.php/extwidget/preview/partner_id/133362/uiconf_id/16718522/entry_id/0_n71z3tl2/embed/legacy?

http://cdn.shopify.com/s/files/1/0163/2714/products/Bag-CA-HolyCrap_large.jpg?v=1411145688

It’s an understatement to say that the government has a tough job. With a diverse range of shareholders who make their wants and needs known, the government must consider and encapsulate every law, treaty, or opinion; as they are constantly scrutinized for the decisions they make.

Some of these decisions, can come into conflict with certain groups – particularly that of the First Nations bands. Take BC Hydro’s Site C hydroelectric megaproject which totals to about $8-billion. Using the PEST(Political, social, economical, and technological) Analysis tool, I can see that this project directly affects the lifestyle and education of First Nation’s groups, knowing that respecting and valuing the environment is integral to their culture. This belief is supported, as Liz Logan, of the the Fort Nelson First Nation says, “It’s our church, it’s our store, it’s our school. We have elders’ gatherings there annually.”(Vancouver Sun) To add, in a recent editorial, it states that the “conditions need to be improved for revenue generating resource development and business enterprises.”(Vancouver Sun). What conditions you may ask? “… litigious aboriginal groups, an absence of treaties with First Nations, activist environmentalists, … — all contribute to a landscape in B.C. that is particularly challenging for business.” (Vancouver Sun)

As a province whose revenue comes primarily from its natural resources, business is inhibited by the clashing perspectives of shareholders. The government must discern which shareholders’ needs are  “first” strategically, despite the economic and social clash.

Sources:
http://www.vancouversun.com/news/First+Nation+chiefs+stage+Site+showdown/10215965/story.html

http://www.vancouversun.com/travel/Editorial+MLAs+need+back+business/10257226/story.html

http://pestleanalysis.com/pest-analysis/

http://images.glaciermedia.ca/polopoly_fs/1.654524.1381356045!/fileImage/httpImage/image.jpg_gen/derivatives/landscape_563/site-c-dam-project.jpg

As the  traditional definition of a brick-and-mortar business has ultimately phased out, technology invades both our professional, and more importantly, personal, lives. As Grace Cheng stated in her post on the renowned PSL (Pumpkin Spice Latte) drink courtesy of Starbucks, she brought up an important point: Starbucks knows how to position their marketing strategies using social media.  One can name the multiple popular apps and websites people use, ranging from Instagram, Twitter, and Facebook. In spite of this fact, I believe that Youtube is on the rise as a marketing platform. It is not unusual for a brand to start a channel and provide promotional trailers for next season’s latest trend. However, the average user of Youtube is now used as a means for brands to promote their product. Let’s look at Topshop, a favourable, British based company that never fails to be up to date. As of Summer 2014, Topshop instigated their “Summer Seekers” program, in which they contacted “Youtubers” to create and model a series of looks consisting of their product. These “Youtubers” can be considered human capital, as they get the opportunity to choose from the brand’s product, and create a sponsored video in return. As well, not one, but many Youtube users are given this offer, and this relationship between each “Youtuber” to their viewers is what cements Topshop’s campaign. As a result, one can affirm that fashion giant Topshop has achieved “getting into the mind of the customer”. (Reis and Trout, Quick MBA)

Sources:

http://www.quickmba.com/marketing/ries-trout/positioning/

https://blogs.ubc.ca/gracecheng/

With e-commerce evolving into the world’s biggest markets, business people are quickly capitalizing on the increasing demand of buying online product. One report that caught my attention was that of Sophia Amoruso, the CEO of online fashion site Nastygal. Her success story was captured in her recently publicized book #GIRLBOSS. The Washington Post, in their article described Amoruso as a “30 year old founder of [an] online fashion phenom [who] started the site in 2006 as an eBay project, selling vintage clothing while she worked as a security guard checking IDs at an art school. She had no college degree, [and] no experience in business…”(McGregor, Jena Washington Post).

Newsha of the blog “Not Quite There Yet”  wrote a brief review on the book, and as a reader, I found it interesting that she sees Amoruso as an entrepreneur “who doesn’t quite fit the mould of a stereotypical businesswoman”. This assumption holds true, as Amoruso managed to build a brand that earned $100 million in 2013 with little to no experience in the business world. As a commerce student, Sophie Amoruso’s story makes me wonder if the tactics we study, such as finding the right market position, and partnering with key firms are all intuitive. 

Regardless of a college degree, Amoruso has accomplished many pivotal points found in the Business Canvas, such as securing key partners, including highly popular shoe brand Jeffrey Campbell. She broadened her revenue streams by diversifying product, and now, she is also earning by selling her new book!

Sources:

http://www.washingtonpost.com/blogs/on-leadership/wp/2014/05/14/from-anti-capitalist-to-ceo-how-nasty-gals-sophia-amoruso-made-it-big/

http://www.notquitethereyet.ca/2014/08/23/girlboss-book-review/

http://girlboss.nastygal.com/wp-content/uploads/2014/05/53.jpg

Integrity in business is often questioned, as money is typically the driving force of why establishments prevail in the market. This fact, was especially intriguing in Bowie Ko’s blog, commenting on the Shanghai Hsui Scandal in which the Shanghai Hsui Food Co. supplied Mcdonald’s with expired meat. This naturally developed into a controversial issue, as Shanghai Food Co. is potentially responsible for peoples’ health, in that their product is quite literally, consumed.

As a reader, I paralleled this idea of deception with that of the CGA Article on Financial Statement Fraud.  It was particularly interesting that the three factors that outline the crime committed are applicable to a variety of instances.

To reiterate the CGA article, the three main factors of financial fraud are, “situational pressure…, a perceived opportunity to commit and conceal the dishonest act…, and some way to rationalize the act as justifiable.” (Colby, Everett pg 2)

For the Shanghai Hsui Food Co., I found that all these elements have relevance, and Mcdonald’s, obviously being the more prominent corporation, was forced to clean up their image and “[reposition] their market stance and [create] an anonymous for reports on unethical practices.” (Ko, Bowie UBC Blogs)

A few questions were not answered in both the blog and article, that I found, were integral to the investigation. Did Mcdonald’s establish a relationship with Shanghai Hsui Food Co. not knowing about their practices? Or, was this act only considered wrong to Mcdonald’s because they were caught?

Sources: 

https://www.cga-pdnet.org/Non_VerifiableProducts/ArticlePublication/FinStatFraud/FinStatFraud_p1.pdf

https://blogs.ubc.ca/bowieko/

http://online.wsj.com/articles/mcdonalds-sales-woes-continue-in-august-1410265182

http://rediscoverwashington.org/wp-content/uploads/2012/11/mcdonalds-chicken-mcnuggets-4-piece.png