Open the Door to Profits

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

Will Robot Be A Helper or A Disaster?

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.

YouTube Preview Image

 

Vancouver Sun Article

Body Parts Do Not Equal Money

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

Polar Bears And Coca Cola Are Now Best Friends

YouTube Preview Image 
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

Athletic Clothing? It’s Lululemon.

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

It’s the ultimate satisfaction that counts

“Balance” is perhaps the most important word for people who seek for jobs, because it is so important to be balanced, in which employers call a “healthy lifestyle,” in order to be successful and bring positive impacts to the company.

Is acquiring balance the most important goal in life? Consultant Matthew Kelly disagrees; he states that after twenty-years of work-life balance conversation, most employees who made valiant efforts to achieve the illusive work-life balance that the companies required have failed. He believes that the personal and professional aspects of most people’s lives intertwine. To be balanced is not the ultimate goal, but instead, it is the “ultimate satisfaction” with the way people lead their lives that will differentiate themselves from others.

I agree with Mr. Kelly’s perspective in that it is critical to be satisfied before reaching the balance stage. The extent to which happiness is measured is based on every individual’s personal beliefs and preferences. If people stress too much on the importance of being balanced, then satisfaction might not be achieved in the process of acquiring a balanced lifestyle. Thus, it becomes ironic the fact that people are not happy even if they intends to be balanced. The objective of a “healthy lifestyle” is hence ineffectual.

“I want to have a balanced lifestyle with a smile on my face”

 

 

 

 

 

 

The Globe and Mail

What’s Your Name?

After years of building recognition, the company known as “I Love Rewards Inc.,” has changed its name to “Achievers Inc.” It is an employee rewards and social recognition company. The founder of the company, Razor Suleman, felt that renaming was a “value proposition” necessary to further expand the company into the States. Mr. Suleman wants to ensure that he unifies his company into one brand.

According to Al Ries and Jack Trout, the two famous authors on brand positioning, they argue that changing a company’s name could potentially confuse consumers with other brand names and make them lose the image of the company. The question is now whether “Achievers Inc.,” has done the right thing to change its name to one that the company believes to be more “malleable” in capturing the global outlook. 

However, it is uncertain if consumers will react positively to its new name or will, as Ries and Trout predicted in their theory, be confused with other brand names or forget about what the company is about. Whether Achievers Inc can manage to achieve its purpose of making its brand more recognizable will be under examination for some time.

The Globe and Mail

Additional Information on Positioning

A Man Who Changed Our World Will Always Live On

Steve Jobs, Apple’s former CEO, passed away at the age of fifty six on Oct 05 2011, but left an extraordinary legacy behind the technology and business fields. He was claimed to be the “man who brought the world its most popular phone, tablet and virtual record” from his exceptional envision and creativity. Not only did his innovation enlighten the world about the potential capacity technology can bring to us, he also redefined the way human beings interact.

Upon his death, issues arise as to whether consumers will remain loyal to Apple’s products and if the company can continue to shock the world with more unprecedented technology. Tim Cook, the current CEO, faces challenges of being compared to Steve Jobs as well as the extent to how far his ability will stretch to make Apple more prosperous.

Personally, I think it is unlikely that Apple can maintain its popularity for long because what Mr. Jobs contributed for mobile consumer products has been compared to what Henry Ford did for transportation. Perhaps the world needs another decade or two to discover not only a talented and ambitious person, but someone who has the qualities and is not afraid of being different from the rest of the world.

YouTube Preview Image

The Globe and Mail

Euros, Are You Still Alive?

The potentially calamitous effect on the euro zone and the global economy has now entered into a more dangerous stage as euro countries now face the debt of nearly €6, 500 billion while governments show no signs of effective solutions. What makes the issue more challenging is that the weaker sovereigns are unable to cope on their own and the major countries have been “dealing with the emerging crisis so incompetently,” such as tolerating huge imbalances and failing to coordinate banks.

The crisis that euro members face resulted from the inadequacy of budgetary, solvency, and governance. The governments’ failure to run the budget in equilibrium or in surplus caused the nations to overspend, ultimately bearing the public debt. Secondly, the assets were not enough to pay off the entire amount due. In addition, governments’ inability to provide guidance, cohesive policies, and positive decisions deteriorated the crisis to a further extent.

Euro members are not only in a financial meltdown in which any decision can cause further devastating results to their own nations, they also have the burden that any step they take to incur the opportunity cost will vastly influence the global economy as well.

The Globe and Mail

Additional Article on Euro Crisis

Are You Different?

Axle Davids developed a technology-based system that allows his clients to define their brands in a day while branding projects normally take weeks or months to complete. This idea took him ten years to establish, yet he emphasized that the most important point is “to find a way to be different.” He stated that differentiating from competitors is crucial in allowing customers to have a unique experience as well as an opportunity to enhance their knowledge about new products.

Axle explained that his main concentration was innovation when he wrote his first business plan. He described that the process to achieving success is by realizing what the customers need and the ways to make the company more superior in comparison with other competitors.

This article not only provides insight into the story of a triumphant entrepreneur who invented unique ideas to distinguish himself from others, it also contains valuable tips for commerce students to learn to stand out with the ability to convey their own creativity. In a business environment where competition is vital, especially in the marketing field, it is necessary to claim a solid position in the minds of customers and convince them that their needs can be dealt efficiently and effectively.

 

 

 

 

 

So, are you “The Red” or white?

The Globe and Mail