Month: December 2010

 Businesses strive when taking many things into account. Customer service is perhaps one of the most important aspects in business. Consumers make up the market, and the demand. In order for a business to gain market share, improve customer loyalty, and develop a positive image, customer service should be the number one focus. For example, Zappos is well-known for their exceptional customer service; as a result, not only have they managed to create a loyal customer base that can promote the advertising technique of word of mouth, but they have also managed to attract and maintain consumers through such exceptional services.  Management has a crucial role to play in setting the standards for the customer service quality the company is willing to provide. Depending on the quality of this service it can either increase or decrease a company’s popularity among consumers.

      Performance across many levels can be related back to the management of an organization. In order to manage a business effectively there is a need for many traits: leadership, reliability, a clear vision, and appropriate decision making skills. Some of the more successful companies, such as Apple, have seen improvements through the years not only for their products but the effective management system they have in place; more specifically, their leaders did not strive to make money and instead focused on making their visions for the consumer’s market come true.

     Start saving and start producing United States! Change is definitely under way in American business. U.S. citizens will have to adapt to a lower standard of living, and for most, there will be no more indulging.

   It is believed that the worlds financial crisis can be largely related to the greedy investors in Wall Street and their clever schemes, to the poor decisions made by the U.S. Federal Reserve. According to Jim Rogers, a well known international investor, America’s problems are much deeper than a weakening U.S. dollar. The Federal Reserve chairmen travels to asia and debases the U.S. dollar; more specifically, the FED is relying on other countries to “run” the US economy. On one side, we have many supporting the idea of letting businesses go bankrupt in this financial situation, and for the businesses that are sound to take over. However, we have others supporting liquidating assets, and pumping money into the economy; this move can have severe consequences not only for the U.S., but in markets around the world. An increase in inflation would be just one of many following such an action and to add, their will be debasing of currencies globally.

      The U.S. economy is known for using up much of the worlds resources just as a single nation. For example, of the worlds oil supply, 50 % is used by America while the rest of the world has to live on the rest. This example sets us up for the question: why should the U.S. be given such opportunities and endulgance, while the rest of the world has to be limited to supply on world resources? If such practices in the U.S. economy should continue, there will be a run on the U.S. dollar as investors look to other markets and currencies.

      “We will address that problem in the near future.” Considering recent political moves in the U.S., the previous quote must have been very common when the topic of the national deficit was considered.

     Currently the U.S. deficit is amounting to an astounding $14 trillion. If the population is taken into account, the national debt can be calculated as approximately $45,000 per citizen. This situation has been deemed as “unsustainable” and it poses great risks for the U.S. If this problem is left unchecked, it poses a great threat to the future Americans who can face problems from poorer living conditions to a weaker nation.

     Naturally, there is no easy way out, and the solution to the problem will be painful. This past Wednesday, a sweeping austerity program, issued by a White House deficit commission, was presented to U.S. lawmakers. Their proposals include raising the retirement age, and drastically reducing spending in health care and the military. This plan will no doubt face an uphill battle from many politicians in U.S. politics.

     If lawmakers fail to tighten budgets and spending habits, according to some estimates the revenue in 2025 will only be enough to cover the interest for the deficit, Medicare, Medicaid and Social Security; as a result, other government spending for activities such as national defense and homeland security will have to paid for with borrowed money.

   Sooner or later the Americans will have to face the inconvenient truth and what it means for the future of their country. They have maintained the ranking of the worlds number one super power for some time, and if this major problem is not addressed they will no longer be in the spotlight.

    Telecommunication companies are discovering new strategies to gain market share by the day, and one that has been proven is the expansion of media. Upon breaking down the sources of its profits, Rogers has concluded very minimal profits in media. Currently, the media profits for Rogers are generated from Rogers Publishing Limited, which has more than 70 consumer and business publications, 51 radio stations, television broadcasting with OMNI, Citytv and the Sportsnet network, OLN, G4 Tech, and The Shopping Channel which is Canada’s home shopping service. Rogers also owns the entire Toronto Blue Jays franchise, a contributing factor in media profits.

  Naturally, Rogers is looking to expand as the company believes there is room for some aggressive action. The telecommunication giant is considering of putting up an offer for the controlling shares of the Toronto Maple Leafs, and the Toronto Raptors franchises. This  is believed to bring more profits as the teams are going to generate a greater media attention towards the company.

      Just recently Rogers sponsored the 2010 Fifa World Cup and this adds to the company exposure in the media. We should all be prepared for some major changes in the telecommunication industry as company’s are discovering different “gold rushes” that can be beneficial in gaining market share.

Video curtesy of BNN: Rogers Eye Expanding Sports Empire

A link to the news article:

http://www.theglobeandmail.com/report-on-business/why-rogers-is-stick-handling-the-big-sports-deal/article1820559/

         In less than a decade the Booster Juice franchise has managed to establish over 170 stores nationwide. The idea was first brought up when Dale Wishewan (founder) and Jon Amack (from the US) were camping and Jon would ask the simple question “Are there any juice bars in the US?” and as Wishewan describes ” the rest is history.”

          The first Booster Juice opened in 1999 in Sherwood Park, Alberta. Once Wishewan gathered a customer base, he was confident in his business. Booster Juice started franchising in 2000, and began its dominance in the market. The franchise fee is fairly priced at $25 000, and the company collects a 6 % royalty. The approximate wait time for a franchise is around 6-18 months, depending on the location.

       The Booster Juice franchise is no doubt an entrepreneurial business. Although Wishewan did not undertake a completely new idea (as most entrepreneurial businesses do), he did take the relatively high risk of starting Booster Juice. Furthermore, Booster Juice made record profits in a very short amount of time, with some estimates in the tens of millions (company does not report profits) in the 11 years it has been operating. Considering the business has been expanding into other markets around the world, it seems the engineer, Wishewan, has thought of everything and left no room for errors.

       For those interested in the franchise and specific information about the business the links below provide very detailed explanations.

http://www.freefranchisedocs.com/booster-juice-UFOC.html

http://www.boosterjuice.com/