China, the world’s second largest economy, is no longer the stereotypical “low-cost manufacturing” country anymore. It is difficult to settle a business and become successful in the country, yet the prospect for profit earning is unlimited as China is the world’s most populous country with its “sprawling 1.3 billion people.”

In Grace’s blog, she discusses the five elements of barriers to entry that must be overcome in order to establish a field in the country. Having the knowledge of the mosaic of markets, business culture and etiquette, a market-based approach, establishing time, patience and money, as well as building a strong local team are crucial strategies that need to be learnt in order to be triumphant.

Grace states the importance of “cultural factor” in building a successful business model in China, which is true as most Chinese emphasize highly on traditions and believe that they are represented by their rich historical culture.

If the trend of investing in China continues and more people decide to set foot in this profitable area, an interesting question arises as to whether or not Chinese market will eventually be dominated by foreigners. After generations, will China’s cultural characteristics in the business field remain the same or will it become diverse and combined with multicultural features?

CNN Article

In Chloe Chow’s blog, she discusses an article about the invention of robots by Panasonic inJapan for those who cannot wash their hair conveniently. The article emphasizes the increasing dependence the world has on advanced technology. Chloe states that the advantages of this product can be convenient for seniors and handicapped, as well as hair salons that can save time and expenses to hire employees who would normally be delivering the service.

The idea of robots replacing human labor is an interesting but also dangerous thought, because not only will it cost a lot to the firm, consumer’ reaction also remains uncertain to this product. Moreover, if the idea of using robots becomes a trend in the future, unemployment rate will eventually increase as firms in other industries develop a similar method of using robots instead of humans to produce goods and services more efficiently and effectively.

Although the concept of developing robots for hair washing is seemingly modern and innovative, it is worth considering the cause to the firms and the effect it will have on the consumers and society as a whole.

Vancouver Sun Article

In Helen Ip’s blog, she discusses unethical business transaction of organ trafficking in impoverished countries, which includes Azerbaijan, Belarus, and South Africa, where people are desperate to earn a living. She states that many are forced by violence or deceived by high repay to offer their organs, particularly kidneys, to illegal black marketers.

Many of the kidneys harvested by the criminals are sold to people who live in Israel. However, the cash in exchange cannot be compared to the life-time physical and mental depression victims suffered, as some even end up in death.

Helen selects an extreme case to emphasize the violation of business ethics by using coercion, violence, and money, mostly counterfeit bills, to take advantage of those who have no other alternatives but to harm their health. Not only is the unethical market transaction a significant issue, the fact that people are willing to be the victims is also a serious concern that should be dealt with.

The government in those countries where organ trafficking is taking place should not only focus on preventing the illegal business from happening, it should also develop strategies such as offering more welfare for people in poverty to ensure a healthy living.

Bloomberg Article

 
Coca Cola has changed its iconic can from red to white with polar bears to help raise the issue of Canada’s melting arctic. Coca Cola and the World Wildlife Fund are involved in the project called Arctic Home, in which the money committed to this project is used to fund research programs relating to the habitat in the arctic, particularly in regards to polar bears.

Coca Cola’s sustainable move not only raises awareness about the environment but also reminds consumers of their social responsibility every time they purchase a coke can.

However, whether or not Coca Cola can maintain its sustainable image does not solely depend on the action of changing its can. Rather, fully implementing movements that will improve the well-being of society should be the main motive as raising environmental actions are not just altruistic in increasing sales and popularity.

If Coca Cola can set high expectations for its company to achieve the goal of sustainability, it not only can prove to society its contribution to the environment, but also challenge people into accepting the existence of business ethics and redefining the concepts of profit maximization.

The Globe and Mail

Lululemon, its pervasive logo seen in the athletic world, has successfully created a new trend by the innovation of yoga clothing that resulted in a high demand in the market. The company’s entrepreneurial traits are seen by not only bringing the new products of high quality, but also its ability to capture attention and acquire customer loyalty.

Lululemon uses special fabrics, such as its signature luon, to offer flexibility and softness to customers. These materials also have the ability to absorb sweat induced from exercising.

Lululemon also launched a new production method by creating a “Global Sourcing Team” that is committed to producing garments in safe and healthy environments. This team travels to different countries of the factory locations to ensure safety and the well being of employees. It not only investigates on the production process of the factory, it also helps to build relationships among different communities around the world through the connection of Lululemon’s brand name.

Lululumon’s entrepreneurial traits are evident as it has effectively combined and managed various inputs in an innovative manner to generate a strong brand image in the athletic clothing industry.

Information about Lululemon

Definition of Entrepreneurship