Category: COMM 101 2010

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COMM 101 2010

What I have learnt from COMM 299

COMM 2999 is deemed to be one of my most valuable experiences in first year of study in UBC. I really like the course because all the skills I learnt from it are very practical and applicable in real life. In term 1, I learnt about all the aspects of public speaking such as tone, flow, body language, and organization. Different types of speeches requires different variations of the above skills. Besides, I have also learnt that public speaking is about confidence. I remember one sentence that my instructor had said about public speaking that” Even the most experienced public speakers will be nervous when they do their presentation, but they just hide their anxiety. Show your confidence and fake it till you make it.”  At the end of term 1, I felt that not only my public speaking skills had improved, but also my confidence was built up.

Among all the skills I learnt from the second term of COMM 299, I learn most from writing resume and cover letter. Before entering the course I still had the resume that I made during grade 10 planning in high school; however, now I have learnt how to build my own brand through using C.A.R statements and different types of verbs in my resume and cover letter.  I even taught my friends outside of Sauder to build their resume. In addition, TA tutorials were really helpful and I appreciated their hard word and sharing of their own experience. They really clear the cloud that I had in business communication.

All in all, I think COMM 299 is a great course and I really want to thank all the professors and TAs for providing us such a wonderful experience!

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COMM 101 2010

Innovation in E-Commerce, the new era of the business world

Today, I finally found my definition of E-commerce from Groupon, it is “a combination of the new trends of business world – entrepreneurship and management information system.”

When we evaluate a successful entrepreneurship, we always talk about innovation. What exactly is innovation in the most competitive e-commerce world? In my opinion, Groupon demonstrates innovation in various ways.

To begin with, Groupon provides a platform for itself and small business to engage in marketing innovation. On this platform, customers can easily access special deals and promotions according to their geographic locations and interests via social network. Firms no longer need to use trial and error and waste precious time and money to determine their customers’ wants; instead, the customers display their preferences and interests and firms can cater directly to their target market’s tastes. As customer base grows, Groupon and firms that are involved can certainly take advantage of this and further expand their business.

In addition, Groupon’s system as a whole can be deemed as an innovative supply chain. The firms find out what consumers want, and can promote their business to a large and deep market at the same time. Thus, firms from different industries and areas will continuously come to Groupon for help with raising brand awareness for their business. Groupon’s selling point is its strong MIS, this has attracted firms from all different industries and these firms subsequently stimulate Groupon’s contious growth and advancement.

These reasons are exactly why even Google is willing to purchase the website for $6 billion!

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COMM 101 2010

Entrepreneurship – the key to growth

If I was to rank the most entrepreneurial company in the world, I would have to say that it is the Japanese entertainment monopoly Nintendo Co.  From Nintendo 64 to the NDS, from the NDS to the Wii, this endless eruption of new products and innovation in the world market is astounding.   Nintendo Co. has grown rapidly and has become Japan’s third most valuable listed company, with a market value of over US$ 85 billion.

Nintendo: 2009’s ‘World’s Best Company’

Their entrepreneurial spirit is also shown in their mission statement: they wish to expand by “putting smiles on many people’s faces by offering brand new entertainment that anyone can enjoy, regardless of age, gender or gaming experience” – or in other words, they wish that every type of consumer can maximize total utility.  Thus, this allowed them to have a fast speed of wealth creation.  In 2009, the company made “$2.66 billion USD in revenue”, and its sales “have risen 36% annually over the past five years, while its value growth averaged 38%.”

Nintendo Bets Big on Social DS System

In 2010, unlike other competitors in this global economic downturn, Nintendo was willing to take a risk in a new market. With its new product the 3DS, Nintendo strives to construct its own worldwide social media and network community.  Nintendo’s consistent pursue of innovation is their key to success, and it is what other companies should try to emulate in order to be entrepreneurial.

Nintendo 3DS

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COMM 101 2010

Accounting meets Marketing? Japan Pizza Chain offers $31,000/hr part-time job

I was shocked when I read the title of this article today. A part-time job that pays $31,000 for one hour? That must be the highest paying job on earth! I guess everyone would be shocked initially. But then I scrolled down to discover which company made such a seemingly irrational decision, and I found that it was Japan’s Domino Pizza.

While absorbing the article, I realized that this is exactly how Japan’s Domino wants people to remember their name. This is one of the newborn marketing strategies called the Law of Big Numbers.  “When people come into networks, they have this obsession with quality and quantity.” Compared to putting ads on TV, newspapers, or start a discount promotion campaign, this $31,000 one-time cost to generate massive media attention is more worthwhile, or in accounting perspective, more cost-effective.

Now you give a try, can you tell what’s accounting and marketing behind this promotion?

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COMM 101 2010

Call centre failure – Is outsourcing a good alternative nowdays?

While studying today, I kept receiving calls from Fido customer service, requesting my feedback on their service. Different people kept calling me from the same phone number, and each call was within ten minutes of the preceding one. After intentionally missing ten calls, I got annoyed and picked up to finish their survey. “Sir, I have marked you off the list, thanks.” The callers’ accented voices were echoing in my head; and suddenly, outsourcing popped up in my mind.

Indeed, outsourcing reduces costs for the companies so they can increase their profits. However, in long term, there seems to be a lot of potential problems with it. Outsourcing creates dissatisfaction for employees, customers, and the third parties themselves. Layoffs caused by outsourcing obviously lowers employee morale, and pushing third parties to front line to deal with customers seems to make both sides frustrated. The combination of the above factors results in lowers productivity and damage to company image. Instead of spending so many money and effort to motivate employees and improve brand image, why don’t companies find better alternatives for outsourcing? Saving these resources may be even more cost-effective than reduction in cost by outsourcing.

Failure of outsourcing

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COMM 101 2010

Hong Kong Starbucks falls in “Green Wave”

Last weekend, I went back to Hong Kong for some personal reasons.  In the Hong Kong airport, I spotted an intriguing Starbucks ad, which reminded me about class concepts like sustainability and marketing strategies.

As I skimmed the ad, the word “personalize” caught my eye.  This is a really thoughtful ad; it emphasizes customization which makes consumers feel that they have certain autonomy to what they are buying, and it also allows them to treat buying coffee as a unique experience.  Moreover, this clear and simple ad also shows Hong Kong Starbucks’ efforts in researching their target market.  Residents of Hong Kong are generally obsessed with “conspicuous consumption”.  A fancy cup decorated with diamonds will certainly catch their attention.

Besides its successful marketing, Hong Kong Starbucks’ promotion of the “Charm Tumbler” reveals that the company has also fell into step with the “green wave”.  Encouraging customers to use the “Charm Tumbler” not only brings in extra profits and cost reduction from paper cups, but also demonstrates corporate social responsibility that enhances a company’s image.  In my point of view, the “Charm Tumbler” is a perfect new development for Starbucks in Hong Kong, where workaholics are everywhere and caffeinated drinks are in high demand.  What’s better than being eco-friendly and maximizing profits at the same time?

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COMM 101 2010

Social Media is no longer a fad… it’s where producers find consumers…

http://online.wsj.com/article/APd8b4eb86eb2f4da49ce026d2d65cb39d.html?KEYWORDS=Gap

Today as usual I went online and check out some news. I accidentally click into this post about Gap’s new logo. What’s so special about this news? It again shows the power of social media.

New Gap logo…

If you still think company’s logo is by its owner’s preference or tastes, you are not living in the 21st century.  As most of the people who have seen Gap’s Logo, I am shocked. This new logo no longer reminds me about Gap’s image of a clothing producer, but instead, an IT company.  Well, Gap may not care about what I think; however, I am sure they care about the “flap” in social media.

What’s happening on Facebook and Twitter?

Apparently, Gap’s fans on Facebook and Twitter are all furious about the new logo. They all prefer the old one better. Although Gap is “asking for opinions”, personally I think Gap is only trying to comfort their fans because they said they are still going to publish it soon.

I think Gap should take this “flap” seriously because the power of social media is not imaginable.

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COMM 101 2010

Applying Fishbone Analysis on U.S Mortgage Investment

[Robobonds]

What make U.S Mortgage market worsen and worsen these days? Based on information in the above two articles, I will explain the situation briefly using Fishbone Analysis.

What are the causes?

  1. Public investigation of questionable foreclosure documents
  2. Furor from homeowners that mortgage lenders have been evicting houses by using flawed court papers

These lead to…

  1. Further suspension of foreclosures
  2. Halt foreclosures

In most of the banks in the states!

Finally, the result is

  1. Mortgage lenders have to keep advancing payments that will go to all mortgage bondholders instead of foreclosures.
  2. Homeowners uses this advantage so they are “not willing” to pay.

In the end, Mortgage lenders don’t have enough revenue to pay the mortgage investor which eventually leads to “further losses in the already-battered $2.8 trillion market for residential mortgage-backed securities.”

I think Fishbone Analysis is quite helpful when the case are involved with so many factors. The structure of the analysis provides better overview of the case, which makes me understand the situation better.

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COMM 101 2010

Detroit is not only behind in fuel economy

[FUEL]

http://online.wsj.com/article/SB10001424052748703859204575525963701140270.html?mod=rss_whats_news_us_business

Front Stage?

The government-owned automaker General Motors Co. has just announced its fuel economy development goal up to 2025 for its SUV.  Their most aggressive approach would push the fuel economy target to 62 miles a gallon (MPG), which is highly encouraged by environmentalists and Mr. Obama.

Can GM reach its goal in 2025? With an additional cost between $2,800 and $3,500 to a vehicle, GM can even reach its goal next year. Toyota, one of GM’s biggest competitors, has the prius model which gives a MPG of 51 and costs way less than GM’s future 62 MPG SUV.

http://online.wsj.com/article/SB10001424052748703882404575519773455335584.html?KEYWORDS=Toyota

Back Stage.

While GM still worries about its fuel economy, Tata Nano’s has already come up with a plan to invade Northern America’s automobile market.  Again, Toyota finds its way to save its market share from future Nano’s invasion – trying out minicars with Japan’s largest minivehicle seller on its biggest market.

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GM is not only fallen behind in fuel economy, but everything. As one of Detroit’s leaders, GM should start to question itself why this happen. In my opinion, one thing that determine the difference between GM and Toyota is system.

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COMM 101 2010

Business Ethics Question related to an ad campaign that blame on McDonald’s

MCD2

Burger Giant McDonald got blamed for heart diseases by an ad campaign by PCRM.

http://online.wsj.com/article/SB10001424052748704190704575490011354963240.html?KEYWORDS=burger

Is an ad campaign that blames McDonald’s for heart disease fair or unfair?

In my opinion, I think this ad campaign is not fair on McDonald’s. Firstly, although PCRM is trying to raise awareness of heart diseases through this ad campaign, they have better alternatives such as targeting a more general term “fast food” instead of McDonald’s.  And they also lead me to think, why McDonald’s but not KFC, Burger King, or even Wendy’s? Is there a scheme behind? Secondly, these damages from social media always take long time for the company to rebuild their reputation. PCRM’s decision may not be a wise one.

Indeed, I think PCRM’s purpose and direction is right, and I support how they teach people about these potential side effects of fast food. For McDonald’s, I think they will be able to defeat this challenge since they are experienced to dealing these health concern from societies. And think deeper, this ad actually also will help people to remember about McDonald’s – no matter if it’s a positive or negative message.

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