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      In George Colony’s post “Twitter’s Bad Idea”, he considers Twitter makes a bad approach by placing ads in the online social network. He comments that twitter community is too private for its users to get used to the external ads. In addition, report reveals that twitter possesses “very limited influence” over technologists’ decision-making and Colony criticize Twitter’s idea of pushing promoted tweets.

       I find his post is relevant to what we learnt in class about finding the appropriate target market. Obviously, Twitter’s target market is educated young adults who are willing to share their personal thoughts and stories. Meeting most of the needs of the target market can maximize the company’s effectiveness and placing a lot of ads is not a positive way appealing to them.

         Likewise, there is always dilemma for social networks such as Facebook and LinkedIn, to maximize their profits and please their customers. Regarding to Twitter’s situation, I think the company can choose ads which are most appeal to the less wealthy target group. Taking advantages of technology to design more useful and valuable smartphone apps is also a feasible way to make money. Innovations can always add value to the company and thus attract customers.

     In Harriet Ho’s post, “Social Responsibility: Too Good to be True”, she comments that consumers are often dazzled by those fancy charity advertisements and blend to “the actual numbers donated to charities”, regarding to corporations such as Coca Cola and TELUS’s attempting to raise money for the society. Companies develop an image of social responsibility and play it mostly for marketing. They intend to advertise the companies’ charitable personality and position it into consumer’s mind.

         In my opinion, although they use social responsibility as a way to advertise their brand, they create substantial social impacts simultaneously. For example, while Coca Cola use polar bears icons and promote caring for wildlife as a leading corporation in the world, other companies might observe the opportunities and advantages, and imitate the idea. Small charitable donations come together can make a huge change in the world. Most importantly, the world will become friendlier as more companies adopt the idea of sustainability. They will generate social awareness by advertisements and campaigns even though they do not to on purpose. “Small steps are better than none”, and we are looking forward to see the sustainable future of the world.

Michael S. Dell, the 44^th richest person in the world in 2011, exemplifies how a successful business person is like. His company, Dell Inc., sells supports computers and related products and services, is doubtfully entrepreneurial that its innovative customer based operating method generates a great amount of wealth to the company.

Michael Dell founded the company with $1000 at the age of 19, and in 1992 his company was already ranked in Fortune magazine’s list of top 500 corporations. The rapid growth of company demonstrated the entrepreneur’s success and made him a millionaire in a short period.

In 1996 Dell started to focus on selling computers online. It allows customers to choose whatever they like on the website and receive them through delivery. The customization reduces inventory and costs for Dell and earns customer loyalty simultaneously. Since people get what they want, they are willing to pay more. Dell Inc. reported in 2001 about $1 million in sales per day from dell.com.

Entrepreneurs always intend to change the world. Dell’s customer-based strategy alters the way people think about direct business model. It creates efficiency both for the customer and the company.

At this point, Hydro would need a one-year rate increase of 60% to pay off the debt; at $5 billion the increase would be 150% Hydro adopts the provincial government’s bookkeeping method, “create the appearance of profitability where none actually exists, and place undue burdens on future ratepayers.” Indeed, what Hydrois doing is deferring large debts rather than paying them back and balancing its books each year.

Hydro’s situation reflects what we learn about financial accounting and government intervention. Financial statements are keys for companies to understand their current position and make important decisions; Hydro has to adopt a new method to change its condition. Decades before, deferral accounts were adopted to help the company to stabilize rate for dealing with its year-to-year revenue fluctuations due to weather change, but the method is not practical nowadays.

Taxpayers will also have to pay the “bills” for Hydro eventually due to the monopolistic nature of its market position. Because Hydro is the only electric utility in the province, government will intervene to pull the company out of the trouble. Therefore, tax increase will be inevitable.

Harrah’s has been quite successful in adopting various marketing strategies to attract people to gamble more recently. The company recognizes that people spent “between $100 and $499 a trip” are therefore their target market. Then the company has conducted numbers of clinical-style trials to determine what interest gamblers.

Harrah’s encourages gamblers to register for VIP card s and conducts a model “scored gamblers on how profitable they can be to Harrah’s” in order to collect information and track their behaviors in casinos. Based on data, Harrah’s provides cash offer, free hotel room and free steak meal accordingly to get people motivated. Some gamblers revealed that they actually spend much more than what Harrah’s has given them by getting into its “trap”.

According to what we discussed in class, Harrah’s has done primary market researches to collect data by themselves. By studying the consumers’ behavior, the company can successfully find its target market and appeal to them in order to increase its profit. The company’s short term tactics is offering free hotel rooms and steak meals to attract people to drop by the casino more often. Need-based strategy suggests by satisfying most or all needs of the target market can effectively raise profits.

According to Katherine So’s post, Groupe Aeroplan changes its name to Aimia. Aeroplan is a loyalty management company owned by Air Canada. Therefore, it often causes confusion between its program and its corporate association with Air Canada. By doing so, the company tends to expand its target market globally and reposition itself in consumer’s mind. The program wants to establish a more memorable name and become internationally recognized.

Repositioning is an effective brand-building process and a marketing strategy we have discussed in class. I agree with Katherine’s point that “brands should be clear and explicit”. A name is the most important factor affecting consumers’ perception. The company explains that Aimia alludes to pinpoint precision- a “sweet spot” where two aims cross over. It quickly displays to the consumers that its service will stay closely to its “aims”, loyalty related objectives. The company also convinces consumers to consider its program in a different way. The change of its name creates long term influence that it will heighten the brand’s visibility and increase sales. While announcing its intention to expand the business worldwide, it attracts people’s attention and thus brings more opportunities to the company.

Apple co-founder and former CEO, Steve Jobs passed away on Wednesday, Oct.5 at the age of 56. Definitely, the world lost one of the greatest innovators and IT elites.

Jobs co-founded Apple computer with Steve Wozniak and catalyzed the technology development hereafter. Apple created iPod, iPhone, Mac computer and Ipad, etc. that successively opened a new era of touchscreen smartphones, all-in-one desktop computers and tablet computers.

Jobs’s contribution to IT industries is imponderable. Good ideas can diffuse rapidly; businesses imitate each other for obtaining the greatest profits. The great success of Apple can be addressed to a group of IT elites leading by entrepreneurs such as Steve Jobs. Apple adopts several tactic and strategies along the road through innovation and energetic minds. In my opinion, Jobs changed the world in term of for example, accelerating the founding and development of Android and stopping Nokia focusing on Symbian. The companies discover the increased demand for high-tech devices and the huge profit Apple makes; they enter the market to imitate Apple’s ideas and continue to survive in the IT industries. Although they drive the profits of such innovations down, they push the world to enter an efficient technology age.

             Financial Times reports on Sept 26 that the CEO of Coca-Cola, Muhtar Kent criticizes the States’ tax rule. He argues that the US’s tax burden creates uncertainties in business and may put itself into a disadvantageous condition in competing with other countries such as China, Russia or Japan. Indeed, while companies in other countries have control over the money they earned abroad, American companies face tax burden.

Kent’s speech causes controversies in US. However, it shows the US’s potential problem caused by the tax policy. Government usually intervenes to re-allocate the resources. However, some businesses may lose confidence in local market due to the large tax burden. Therefore enterprises may transfer from concentrating their businesses locally to operating oversea to seek for development opportunities. In another word, the US will be losing resources in this way and the growth of domestic industries will slow down.

It also reveals that the economy development of some foreign countries is rapid, and it is necessary for the US and Canada to reform its policies regarding to this. The government can provide incentives to attract more domestic and foreign investors and take advantage of this opportunity to accelerate the recovery from crisis and development.

Same as Burger King, a lot of local businesses are considering expand their company worldwide. Such is a case that Tim Hortons opens its first shop in Dubai on last Saturday. They made the menu and even the taste of coffee and doughnut exactly the same as we have in Canada.

The CEO commented that the new location is “the first true export of the brand” because it is Tims’ first full-serve restaurant outside Canada. The attempt may bring the business not only the profits, but also the reputation and opportunity for further development. Tims’ value-priced food is the business’s strength. However, the it must work hard on efficient and creative marketing plan to confront the obstacles the unfamiliar market might bring it. Newspaper, TVs, internet can educate others about the new coffee shop. Tim Hortons can take advantages of the unexplored market to seize foreigners’ interests in order to open more stores and expand. However, after entering into a mature coffee market, Tim has to differentiate its products to compete with existed coffee businesses such as Starbucks. Low priced foods and friendly environment are several approaches that lead to consumer-based services. Now All Canadians are watching Tims’ growth in the global market.

Bernard Madoff’s popular case of Ponzi Scheme presents to the society that frauds are often sophisticated elites in financial area and we need to be careful.

In December, the year of 2008, Madoff himself pled guilty of had been defrauding billions of dollar from investors; acknowledged that had made his investment firm into a Ponzi Scheme. As being well-educated in finance and well-known in his occupation, he ingeniously made his investor’s money disappear without being known. Hundreds of victims which include wealthy individuals, firms, banks, and ext. were involved in this Ponzi Scheme.

http://i.telegraph.co.uk/multimedia/archive/01787/madoff_1787112c.jpg

The ethical issue that the case reveals is mostly about Madoff’s irresponsibility and negligence in taking care of others’ money and complying professional ethics. Although making profits is the key, as a well-educated businessman and consultant, he has the responsibility to provide professional recommendations and protect clients’ money. Madoff’s behavior showed disrespect of others and harmed their rights. He should have understood how to deal with their trust toward him. In addition, he was also a former chairman of NASDAQ, the influence on the reputation of the famed corporation by his unacceptable act was impossible to calculate.