Upon reading an article titled “Creating Shared Value” published on the Harvard Business Review blog, I realized that businesses have often been stereotyped as the major causes of societal, economic, and environmental issues that we face today. Considering that many companies set profit on a bar higher than all other variables, this stereotype is reasonable. Controversies such as cheap labor employment by Nike and Walmart and environmental hazards made by BP and Enbridge all contribute to this demeaning claim, which is why business experts have come up with the idea of shared value.

The main problem with companies that are frowned upon by the consumer market is the way they organize their priorities. For many businesses, the goal of earning a larger profit often relies on the consumer demand but can eventually overlap with an external factor like the environment. Therefore, shared value comes into play as a goal for companies to meet consumer needs by addressing certain challenges, which in turn, brings in revenue.

I agree that shared value is a good solution to both company and consumer needs in that it recognizes that social needs, not necessarily economic needs, define market growth.

Harvard Business Review blog:

http://hbr.org/2011/01/the-big-idea-creating-shared-value

Images and References:

http://www.nytimes.com/2011/08/14/business/shared-value-gains-in-corporate-responsibility-efforts.html?pagewanted=all

http://www.nestle-me.com/en/csv/creatingsharedvalueatnestle

Over the past few decades, “intrapreneurship,” the act of working as an entrepreneur within large organization , has been a leading factor in company innovation and product growth. Google with Gmail, Sun Microsystems with Java, and even Facebook with the “like” button are all innovative ideas sparked by employees with the incentive to create and establish. Companies enjoy having a pool of ideas from heir employees and have created programs to fuel employee participation. For instance, Google has supported free-flowing ideas through contests such as the “20% Program,” which allows employees 20% of their regular working hours to come up with new ideas to pitch to executives. In dual-study made by Dan Schawbel, a prominent contributor to Forbes Magazine, and American Express, they found that “58% of managers are either very willing or extremely willing to support employees who want to capitalize on a new business opportunity within their company.” 

The idea behind “intrapreneurship” is that companies simply need new ideas to progress. Every business, regardless of the industry it lies in, has to keep up with ongoing technological advancements and the competitive nature of rival companies. Despite this, executives must always learn to balance innovative growth and maintenance of their companies’ current sales.

Images and References:

http://www.forbes.com/sites/danschawbel/2013/09/09/why-companies-want-you-to-become-an-intrapreneur/

http://www.dazeinfo.com/2014/03/27/intrapreneurship-let-employees-look-beyond-job-profile-foster-innovation/

A fellow COMM 101 classmate of mine, Lucas Cruz, recently wrote a blog post on Apple’s new iPhone 6 and 6 Plus, which were released early in September and have received many negative reviews since. The main issue with the new iPhone, Cruz states, is that the device bends due to its aluminum shell. Apple claimed to have designed the “most durable smartphones ever” when all the company really did was design lighter, thinner, and weaker models.

While I agree that this flaw can reduce Apple’s current sales for the iPhone 6 and 6 Plus, I don’t think this mistake will reduce the overall sales of Apple products. In the past, Apple has made other significant design flaws with its iPhone models. For instance, the iPhone 4s disappointed consumers with its poor signal, while the iPhone 5 was known for its weak battery and charging issues. Ironically, both models still lie among the world’s highest selling smartphones.

The real question is why consumers still buy Apple products even after the complaints people make, and the answer lies within Apple’s value proposition. Whether it is through visual appeal or innovation, Apple always puts consumer interests first and creates devices based on what consumers want.

Images and References:

#BendGate

http://www.forbes.com/sites/gregsatell/2013/05/23/why-i-still-buy-apple/

Respecting the land of the First Nations and Aboriginal natives has been an ongoing controversy in Canada for the past century. As businesses expand and innovate, they run into the problem of finding proper locations to build factories, offices, etc. Despite economic growth being a necessary factor in stimulating the market, businesses must still be ready to cope with objections made by the First Nations and work to make long-term agreements concerning land usage.

In my opinion, the main issue that results from clashing with the First Nations is that while doing so, companies lose valuable time and consumer respect. An obvious example of this is with Fortune Minerals’ stock price drop after engaging in a conflict with the Tahltan Nation over a coal deposit worth about $10 million. In the process, the Fortune Minerals allowed government intervention, which not only brought the issue to the media’s attention but also kept the company from making economic progress.

With its unfavorable actions exposed to the public, Fortune Minerals faces fluctuating drops in the stock, shown in the graph above, between February and June. Despite a temporary rise in price during July, the company has continued to lose popularity after August.

Images and References:

http://www.huffingtonpost.ca/annita-mcphee/fortune-minerals-sacred-headwaters_b_5269409.html

http://ejatlas.org/conflict/tahltan-nation-v-fortune-minerals-bc-canada

For decades, education and more specifically, college tuition have been sources of debate. While some people consider education a given right, others believe that it should be a privilege provided by financially supportive parents. However, tuition has undoubtedly increased in the past few years, and the more it does, the harder it is for parents to provide as much for their children.

Being from California in the United States, where the cost of college tuition can be over five or six times that of the tuition in Canada, the financial burden is definitely understandable. After reading a blog post by a fellow COMM 101 classmate, Carolyn Lee, I agree that students themselves should make an effort to pay for their own tuition. By applying for jobs, scholarships, student loans, and other sources of financial aid, students not only take part of the burden off of their parents’ shoulders, but they can also learn to appreciate their education more. In my opinion, as students see the quadruple to quintuple digits on their college tuition bills, they recognize the purpose to study and work hard during their four years of university.

Images and References:

Should Parents Be Paying For YOUR Education?

http://www.collegescholarships.org/loans/educational-bank-loans.htm