Richard Wong's Blog

Although performance evaluation metrics do not deal with consumers directly, they have a major impact on employees. Take for example Suzanne’s blog post, which details Wells Fargos firing 30 employees because they were taking shortcuts in order to meet goals, displaying how dangerous and powerful metrics can be.

To my surprise, a corporation as successful as Microsoft also had their own share of performance evaluation issues. The multi-billion dollar corporation used to run a metric called stack ranking, which forced mangers to rank

employees as top, average, and poor performers. The metric established a competitive culture rather than the collaborative and innovative culture that Microsoft was intending for. It is easy to see how this metric caused issues such as absenteeism, motivation, and higher employee turnover. On the bright side, CEO of Microsoft Steve Ballmer recognized this flaw and implemented a new system which encourages teamwork and employee growth.

Although on the surface it might be easy to simply blame the employees, just like what Wells Fargos did, it is important to note that most people’s actions are motivated by the situations in which they are forced into.

Resources:

http://www.theverge.com/2013/11/12/5094864/microsoft-kills-stack-ranking-internal-structure

https://blogs.ubc.ca/suzanneysliu/2013/10/07/wells-fargo-fires-workers-for-opening-fake-accounts-to-meet-sales-goals/

In prehistoric times, consumers were bombarded with ad after ad about things that they just didn’t care for. Companies struggled to position themselves in their customer’s minds due to information overload. Now, with the help of personalized recorded data of your searches, location, and likes, companies can better advertise to those who might actually be interested in their product. Businesses such as Placed stems on gathering, storing, and advertising products that they believe will satisfy your needs and wants.

Location targeting: a fix for information overload?

Although the issue of privacy definitely comes into play, Placed guarantees that they get their data only from people who have agreed to share it. And in a society where millions of substitutions exist, having someone sift through these options instead of having to do it ourselves is definitely a great selling point.

There is no surprise at the amount of information that circulates the internet today. Almost anything that you need to know is just a search away on your smart-phone. And that’s why more and more companies taking advantage of information technology.  With better utilization of IT, companies are able to maximize their productivity.

The next time you are casually searching for a place to eat with friends, don’t be startled to find a few restaurant ads on your Facebook for the next few days.

Resources:

http://www.businessinsider.com/placed-location-based-targeting-2013-10

Take a look at Colin Lam’s blog post the releases of the Playstation 4 and the Xbox One. He states that the gaming industry is revolutionizing, and I couldn’t agree more. However, I believe that the video-game industry is innovating in many more ways than just high-end graphics and virtual controllers.

In the beginning, companies such as Atari and Nintendo created video-games as a form of entertainment targeted at youth. And although this still holds true today, video-games have evolved much more than just another way for you to spend your weekend at home.

Lumosity, “Reclaim Your Brain”

In spite of this,  games still tend to hold a negative stigma in today’s society. If your teachers ever told you that games rot your brain, direct them to Lumosity, a brain training program ironically built on playing games. If your parents ever told you that games don’t teach you anything, point them towards the thousands of educational games that are utilized in businesses and schools.  The truth is, just like with any technology, the gaming industry is constantly changing. Like Cole said, 50% of jobs we will see when we graduate have yet to be created, and this statement definitely applies to the ever-changing gaming industry.

Resources:

http://www.theesa.com/games-improving-what-matters/transformation.asp

http://www.nahmiaslaw.com/how-video-games-might-be-worth-more-than-just-entertainment/

http://www.academiccommons.org/2013/09/gaming-the-future-of-higher-education/

http://thepinstripedsuit.com/wp-content/uploads/2013/05/lumosity.jpg

After our entrepreneurship class, I wanted to find out why so many start-ups (1/4) fail.  An article by The Entrepreneur brings up an important weakness that many entrepreneurs exhibit that negatively affect their business. This weakness is the inability to let go of power.  The article states that some entrepreneurs are so consumed in their own business that they want to do everything on their own. Conversely, by being able to hand over authority to others the founder allows himself to have more time to focus on more important matters.

However, after reading the article, I noticed how the transferring of power is also utilized in several other areas of business, not just with entrepreneurship. In operations, we can see how smaller firms have to surrender some of its power to establish partnerships and suppliers. Also, in organizational culture, workplace hierarchy is becoming more horizontal; managers are beginning to empower their employees through responsibility and accountability.

We can see how letting go of power and utilizing others will benefit company in the long run. Whether it be finding a supplier to better your supply chain or empowering your employees to work at maximum efficiency, the idea seems to support the ideology that “two heads are better than one”.

Resources:

http://www.entrepreneur.com/article/228023

No matter who you are, when questioned about the best place in the world to work at; Google seems to come to mind. Google is notoriously known for providing employees with perks; spa treatments, free food, and an indoor gym just to name a few.

Just another day at Google

Ironically, Google’s own employees  are claiming that it isn’t as perfect as we make it out to be.  For example, employees argue that because of the standards that the multi-billion dollar corporation has set on hiring; many bright stars that come out of outstanding schools like Harvard are forced into mundane jobs in the corporation. On top of this, many employees feel that Google is so large that they will never have any impact on the company.  Both of these could definitely lead to absenteeism and loyalty issues within the company.

Although Google provides a multitude of perks for their employees, surprisingly many of them are still left unsatisfied and uninspired. Employees are intrinsically motivated through things such as purpose and responsibility. Google, your employees don’t want to sit around all day in the game room chatting away while drinking free beer; they want to sit down and do some actual work.

Resources:

http://www.pcmag.com/article2/0,2817,2414497,00.asp

http://www.entrepreneur.com/article/229950

http://www.entrepreneur.com/blog/225560

Through some rummaging I stumbled across Colin Lam’s blog post about Coin, a proposed electronic credit card which stores all of your credit cards seamlessly into one card. With the goals of convenience, simplicity, and affordability, the credit card seems to be on the right track. However, underneath the flashy exterior of Coin lie some major flaws that could definitely be detrimental towards the card’s success.

Coin’s futuristic design

Although the electronic credit card looks all functional and practical, the truth is that Coin provides a solution to a problem that is outdated. Coin runs on magnetic swipe technology, which is currently only accepted in the United States. Countries such as Canada and Europe have already moved on to chip and pin technology, which effectively makes the magnetically-striped card useless in these areas. Worst of all, demand is already leaning towards Pin and Chip in the States, which would only spell bad-news for Coin.

Secondly, Coin neglects the major issue when dealing with magnetically striped cards; security and fraud. How will retailers react when they are approached with a third-party card with no identification on it? Think of the headache of trying to prove that you are actually paying with your own card. It surely doesn’t sound too convenient to have it rejected every time you try to make a purchase.

Resources:

https://blogs.ubc.ca/colinlam/2013/11/16/cash-in-on-coin-a-new-credit-card-replacement/

http://www.theverge.com/2013/11/14/5103820/coin-electronic-card-to-hold-all-your-credit-cards

The advertisement below showcases a small company selling $1/month subscription based razor-blades. Take a look for yourself:

DollarShaveClub.com – Our Blades are F***** Great

“Alejandra, what were you doing last month?” “Not working.” “What are you doing now?” “Working.”

After only 2 days after that video was released, 12,000 orders were lined up at Michael Dubin’s door.

Nostalgically reminiscent of Old Spice’s commercials that went viral last year, Dublin successfully utilized social media to target a mass consumer base. The company’s humorous but bold message that “simple is all you need”, derails many larger company’s (Gillete’s) value proposition.

Customers could easily watch the video and choose to buy any sort of cheap disposable razors, but instead they were encapsulated by the cool and authentic looking life-style that the company offers, a brand image that relays more than just a cheap razor-blade. This product differentiation is bound to increase the rivalry in the mens-hygiene industry.

Thanks to social media, which lowered the barrier of entry, companies such as the Dollar Shave Club are able to utilize another option to enter the industry. The success of such a small but out of the box video advertisement leads us to realize how fast marketing is changing.

Resources:

http://www.quickmba.com/strategy/porter.shtml

http://www.nytimes.com/2013/04/11/business/smallbusiness/dollar-shave-club-from-viral-video-to-real-business.html?pagewanted=all&_r=0

With Apple recently releasing the new iPhone 5s and 5c, one can only wonder when the revolutionary company will move on to their next big hit. After all, every product has a life-cycle; sooner or later Apple’s going to have to release something new. However, Robert Cringely, a blogger, suggests that Apple is far from being finished with the iPhone.

The Future?

Just like how Apple reinvented the music player, smartphone, and tablet, Cringely believes that Apple is trying to do the same with the desktop.  The new IOS7 recently released by Apple allows the mobile device to run a productivity software similar to Microsoft Office. On top of this, with the emphasis by CEO Tim Cook that the new iPhone 5s runs a processor that incorporates Bluetooth support for both keyboards and mice, one can soon see how the company is beginning to blur the lines between smartphones and desktop P.Cs. Although not publicly stated, Apple could very well be re-positioning and changing the consumer’s mindset on the importance of desktop P.Cs

Yes, every product does have a life-cycle. However,  unlike Microsoft, it seems that Apple has already begun to make the jump towards the other side.

Resources:

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

http://www.cringely.com/2013/09/19/the-secret-of-ios-7/

A recent article by Reuters examined how  the largest fast-food corporation in the world is making it loud and clear that they want to be healthier.

Although people seem to support these options, ironically they don’t seem to notice when they come from Mcdonald’s. At an investor conference at May 29 it was revealed that salads comprise only 2-3% of the restaurant’s sales.

Perhaps they aren’t taking large enough steps. That’s why Mcdonald’s aren’t stopping at just the salads. Marketing fresh fruits instead of french fries, and promoting only water, milk and juice as beverages in it’s happy meals shows how dedicated the company is in listening to the public.

“Kiwi on a stick” – an example of an alternative healthy product from Mcdonald’s Italy

Venturing out of it’s value proposition could potentially bring more harm to Mcdonald’s than good. Instead, the company should continue innovating inside the fast-food industry, perhaps a new burger. When you think about fast-food, healthy and natural are not words that typically come to your mind. You don’t hear your friends saying, “Hey, let’s go to Mcdonald’s and try that new kiwi stuck on a stick!”. And just maybe, it should stay that way.

Resource:

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

Gmail, an email service provided by Google

Google has been under fire recently regarding their privacy policies on their email service, Gmail. With over 425 million active users on Gmail, Google admits to tracking down, processing, and selling your supposedly private emails to a multitude of ad companies.

Google argues that people should already be aware that their emails are being recorded, and that they “[shouldn’t] expect privacy” when using their services. Google claims that they are not the only email service that does this. Is privacy in social media becoming obsolete?

Although there are privacy laws, Google reasons that they do not break any of them.

In today’s North American society, ethics in business poses a greater concern than it ever has before. This is because in theory, the social sustainability ideology of ethics interferes with the capitalistic views of business. The internet, albeit a new industry, already carries along with it new ethical problems, more formally known as cyberethics. This issue begs to ask the question on whether older more traditional values can still be seen as functional when put up against new innovations.

resources:

http://www.dailymail.co.uk/sciencetech/article-2392773/Gmail-email-users-NOT-expect-privacy-Google-claims-stunning-admission.html