Author Archives: SichenPan

Despite how big government gets, it cannot solve all problems. If the UN is fully funded, it still needs social entrepreneurs and programs like Arc to create long-term sustainable solutions.

Sounds like throwing money at a problem while hoping it goes away. http://verticalelevation.com/ve-blog/files/2012/03/throwing-money-away1.jpg

The UN currently sends workers with money to other countries in need and provides the resources required, but it does not provide the knowledge on how to properly utilise their resources, and how to create solutions specific to a region. The UN worker in charge of a project is always a foreigner who does not have knowledge of all local, social, cultural, and environmental issues.

That is where local social entrepreneurs come in. They know the area they are working in, they see opportunity in despair, and they have a better idea than anyone on how to create a suitable solution.

http://images.clipartpanda.com/working-together-clipart-LiK47MXia.jpeg

Programs like Arc involve working with locals and foreigners to exchange knowledge and skills which will then be used in bettering local economies. If the UN worker and locals takes part in such a program, they would all have more knowledge of their situation, and work together to create a solution.

Arc and social entrepreneurs are crucial to the effectiveness of UN endeavours when solving issues in less-known places.

Social Media is where many vent overzealous remarks, and asking for feedback through Social Media is just a publicity nightmare waiting to happen. That’s why I disagree with my classmate’s support of McDonalds’ proposal to use Social Media as a way to improve customer satisfaction.

McDonalds wants every one of its restaurants to have a Facebook Page, so customers can give feedback regarding a specific restaurant.

http://www.hudsonhorizons.com/pub/images/facebookmcdonaldssocialnetworkinginfographics.jpg

Remembering the Twitter campaign, #McDStories, where customers tweeted about their experience at McDonalds, the countless negative public tweets came in within the first two hours prompted an immediate shutdown. The first little bit of negativity just began breeding more negativity towards the firm, before an imminent avalanche of bitter tweets were created.

Social Media can get rough.

 What would make this Facebook campaign different?  People will still be posting publicly about their concerns, and it only takes one negative post to create another unwanted avalanche of negativity. Furthermore, every single restaurant will have to start training staff to deal with the online comments, creating more costs.

Social Media tends to lean more towards negative comments rather than positive comments, especially in posts regarding large corporations. Is this truly a worthwhile risk to take to win over customer satisfaction?

I think not.

As a student, I agree with Kalpana R’s article, “Education Is More Than Scoring Marks”  in that education isn’t just about getting the highest score; it’s about making discoveries, gaining experience, and enriching lives.

The perfect metaphor for business.

Business isn’t solely about making the highest revenue; it is about successfully solving social, economic, and environmental issues while benefitting both firm and people, hence creating shared value.  Successful firms, like successful students view problems and challenges as opportunities to discover. Attempting to solve problems, whether successfully or not, gives a firm experience and insight into the issue, which are beneficial for future attempts. If a solution is found, because of the competitive nature of firms and students, a firm will make the solution so ground-breaking and new that it would guarantee to keep competitors busy for a long time, just like how a student would want to have the most creative answer and keep his/her classmates thinking.

The solution is sustainable, and it benefits the creator and the recipient of the finished product.

Like accomplished students, a business will only do well if it focuses less on trying to get the highest grade, and focus on creating sustainable solutions to issues that will benefit people inside and outside of the firm.

Like accomplished students, a business will only do well if it focuses less on trying to get the highest grade, and focus on creating sustainable solutions to issues that will benefit people inside and outside of the firm.

Microfinance is having a comeback in India, but how not to screw it up?

When microfinance was introduced, it gave those in poverty a chance to get out.  It worked… until millions began applying for loans, and uninformed lenders lent to anyone.

http://www.givingwhatwecan.org/sites/givingwhatwecan.org/files/microfinance_558605.jpg

The result: thousands of households producing the same goods, creating surpluses, and driving prices so low that households could not make enough money to pay back their loans. A slayer of poverty has put millions deeper in poverty because lenders and borrowers did not assess the market.

I think the only way to make microfinance work is to know the surroundings. It is simple and there are many tools to help evaluate. SWOT analysis done by the borrowers will provide a clear picture of what is the best direction to take his/her talents by telling borrowers what they are talented in doing. PEST analysis done by the lenders could let them know what the overall markets look like, and which markets are better for expansion, so they know who to lend to. It is just that quick and simple!

http://cdn2.hubspot.net/hub/55403/file-1489789351-png/images/swot.png?t=1413393797511

If everyone has a little more knowledge of their surroundings, then microfinance may finally work in India!

On Sept 25th was an exciting day for an Airbus fan like me because the Airbus A320neo took its maiden flight. The A320neo is a game-changing narrow-body aircraft, burning 20% less fuel, offering an extended range and a more comfortable cabin, while costing less to operate and maintain.

http://airwaysnews.com/blog/wp-content/uploads/2014/09/A320neoTakeoff.jpg

This plane is so revolutionary that its main competitor (Boeing’s B737MAX) will not have its maiden flight until 2017!

I think Airbus must get on selling this plane ASAP, because the rising fuel prices and increased passenger numbers are making the A320neo the poster child for an airline’s dream plane.

Positioning is key, and Airbus has a spectacular product that allows it to position in countless ways. I would focus on positioning it as the only fuel efficient and cheap-to-maintain plane available within the next few years that flies highly to lowly populated short to medium haul routes. In that case, it targets many large markets, and sets up a niche years before its competitor’s maiden flight.

Airbus must get this plane in production as soon as possible because the earlier the airlines operate this plane, the sooner this plane proves itself, and the sooner this plane crushes the B737MAX!

Recently, one was enlightened by one’s classmate, Siyan Luo’s posting about Alibaba, an online retailer based in China, whose stocks have recently gone public on the NYSX.  The release of the stocks should not only be the beginning of a new chapter in the company’s life, but also the beginning of a competitive race with the giants of North American online retailers. Moving into a new market is quite difficult, especially one with established brands. However, Alibaba is not just any novice on the playground. While Amazon and eBay were raking in the dough, Alibaba began slowly expanding into North America through Chinese websites. It also has many comparative advantages relative to Amazon and eBay. Being based in China, it has direct access to a wide network of suppliers that offer products from custom tailored clothing to used cars, from high-end jewelry to fake dog poop, and to make it even better, all those products are offered at rock-bottom prices. Being a Chinese based company, Alibaba is also one of the few online retailers that many Chinese suppliers can access to take their products to market. Luo’s blog said that Alibaba’s namesake is a folklore character who became rich after finding a cave of gold. Alibaba (the firm) also found its cave of gold, and it might just be saving it for later.

Alibaba’s logo and motto

(photo: https://fbcdn-sphotos-a-a.akamaihd.net/hphotos-ak-xap1/v/t1.0-9/p526x296/10660236_10152626510915073_239513486015560297_n.jpg?oh=cac2e11f8e62043ca7d79b62270c8c31&oe=54B3EA99&__gda__=1422957985_d75404d4bd87d9009177dbab692852c3)

The responsibility of a business is to make as much profit as possible, but still maintain equally good relations with its community, employees, customers, and shareholders. If it’s off balance, then the business will be “in decline… or be forced into decline”, as stated by R. Edward Freeman.

Associated British Foods has been accused of “tax avoidance” after having its offshore subsidiaries funnel record-breaking profits to tax havens. It ruined the balance of business ethics by keeping its profits instead of paying taxes. The community and local employee relations should be damaged. It would only be a matter of time before the local government starts telling the firm to pay up.  The negative publicity caused from the publishing of news will affect the customer preferences.

The company is like a cardboard box balanced atop a stick. The different corners represent its relationships with different parties (ie.  the community, the customers, the investors, etc), and if one corner gets too much dough, then the box will start to tilt. If the issue is not addressed, the box will fall off the stick, and for large firms, it can be a long way down. However, to balance the box once more, but shifting the weight to the other side will not simply solve the problem. Attention has to be paid to all corners to ensure the tilt is righted.

http://www.theguardian.com/business/2013/feb/09/british-sugar-giant-tax-scandal