hundredsofsparrows

If any person and company have exemplified entrepreneurship in the recent times, it would be Mark Zuckerberg and breakthrough company Facebook. From its humble roots as an online website connecting Harvard students to the multi-billion dollar company that is used in almost every corner of the globe, Facebook is an astounding example of how far entrepreneurship can take a person.

Mark Zuckerberg’s radically simple and intuitive layout allowed Facebook to reach countless new markets and finds many fast revenue streams.  I find Facebook particularly innovative as these new sources of money come from innovations like games, advertisements, and apps that in turn drive new entrepreneurship among other companies.

Facebook was also a risky endeavour to undertake and Mark Zuckerberg himself took great risks in order to further his company. I admire his willingness to believe in his idea enough that he dropped out of the prestigious Harvard and a chance for comfortable life to create a company that he was passionate about. As a result, Mark Zuckerberg and Facebook are renowned for changing the way that you, I, and the entire social media industry thinks about bringing the world together and connecting each one of us.

http://www.nysun.com/business/out-of-work-banker-employs-unusual-job-search/80563/

As I get closer and closer to finishing my first term at Sauder, I’ve been thinking more about where I want my degree to take me in the future. As I was reading my classmates’ blogs, Chloe Chow’s blog addressed one of the big issues nagging in the back of my head: What will my degree get me?

According to Chloe and Francesca Preece’s blog, a university degree isn’t worth much with these lackluster economic times. Both blogs talk about the difficultly in competing for too few jobs among too many applicants. Consequently there are also more university educated students now, diluting the worth of what was traditionally a valuable qualification.

However Chloe’s blog suggests that this problem can be tackled by incorporating an active social, work, and volunteer experiences to bolster degrees while Francesca feels that students should pursue more trade orientated careers in place of a university. Francesca blog does present a valid point on the oversaturation of degrees but I agree more with Chloe’s argument that degrees are still valuable when augmented with life experience. No matter how bad the times can get, comprehensive university education combined with useful life experience will always be in demand.

Declining Value of University Degree Video

Remember the good ol’ days of going to the print shop to develop your photos or actually having to taking quality into consideration before snapping a shot? Well now an era is drawing to an end for the company whose name had become synonymous with all things photographic. It’s sad time for the Kodak when blog’s, such as Don Reisinger’s, are saying that Kodak’s patent portfolio may be worth more than the company itself. Couple this with recent news that Kodak is selling a 10% percent portion of their patents just to stay afloat; it seems Kodak’s last fight for survival. In the recent years, Kodak’s decline has been due to its inability to adapt to the changing photography market and it is now suffering the effects of losing its points of difference against competitors who have filled niches or can produce cheaper. I feel that Kodak had such potential to innovate and use their strength of size to aggressively expand as opposed to letting their threats take advantage of their complacency. Personally, it’s sad for me to see the company whose products captured my childhood memories fade away like an old photo but I cannot see Kodak recovering this time.

Given that the rise recent humdrum of the 99% and occupy Wall Street movement has migrated to Vancouver, our city has been wondering about handle this uncomfortable situation. As illustrated by Nathan’s blog, theses protesters are “occupying” against the perceived growing corporate domination of politics. Despite the fact that the New York protests have been fraught with civil unrest and police brutality, Vancouver’s demonstrations outside the art gallery have been relatively peaceful so far. Still the question remains of how to deal with protesters who are unlawfully squatting on city land.

To solve this dilemma Vancouver politicians have come up with the ingenious idea of fighting back with taxation. Since the art gallery land is premium real estate, as soon as it is occupied the annual property taxes the protesters would have to pay would be $57,000. I see this as a great way to lawfully and peacefully make the protesters understand that it businesses and government have every right to defend themselves and fight back. Much of the protester’s demands are based on idealist principles that are based on the recession and I think taxation will be a good slap in the face to wake them back to reality.

Recently all eyes have been on the EU and the member countries` deadlock on how to approach its sovereign debt crisis. The proposed $100 billion dollar bailout package has been plagued by the lack of support from key EU countries that refuse to lend their support for this titanic bailout. As Stephen’s blog points out, unfair burden of this bill is being put on richer countries like Germany and France who have the obligation to financially support bankrupt states such as Greece. To further complicate things, Slovakia which contributes a meagre amount into the bailout package, is threatening to derail the bill if it isn’t passed in the country.

All this begs the question: is the EU is a viable economic model? In my opinion the recent chain of events has suggested to me that the EU is unable to provide economic stability, much less prosperity, to its members. Not only is economic recovery getting tied down by political manoeuvring but some countries are clearly more self-interested as opposed lending a helping hand. If the EU cannot see the impending danger that its political bickering is causing, then it deserves to end up in history’s list of failed social experiments.

While U.S the recent economic downturn nearly sent the big 3 American automakers to their demise, Japanese automakers picked up the slack to capitalize on the opportunity. Now as the new competitors such as the Koreans and Germans are moving in to follow the Japanese focus on economical yet stylish automobiles, the Japanese automakers must seek new ways to stay competitive. To accomplish this Toyota is planning to introduce hybrid vehicles into China and develop a long term strategy in hopes of breaking into the huge market. However the move comes with large risks like losing essential technology to Chinese manufactures’ that they will have to rely on in order to implement this risky plan. When I went back to China this summer I noticed virtually no hybrid vehicles on the road but many advertisements promoting environmental sustainability. If Japanese can outmanoeuvre GM and Volkswagen, who currently dominate the Chinese foreign car market, with their emphasis on hybrids then there is viability in this long term strategy. One certain thing is that Japanese automakers must act fast to capitalize first on the green trend just like it did once before on the economic trend before other automakers move first.

America and China are each others biggest trading partners but a new development in Sino-American relations now appear to have soured this relationship. Lawmakers in America have opened up debate on a bill that would appreciate the Chinese Yuan in relation to America Dollars. This currency bill arises from allegations that the low value of the Chinese Yuan has caused the trade imbalance and unemployment that has swept through America. China has vehemently denied these allegations and countered that America has been “politicising” the currency issue. Going even further China has accused the America of blaming China for its own failings as the two juggernauts edge closer to a “trade war”. It seems very convenient that just as America facing is another downturn, they are putting pressure on China. The American economy has long suffered from inefficiency and mismanagement of its resources which has resulted in the weakening of its economy and a currency bill isn’t going help fix to the problem. It will take a major restructuring of the whole American economic system before it is able to have a trade balance with China and no quick fixes or trade wars will change that.

It seems like these days there’s a new iteration of Apple’s juggernaut IPhone released at this time of the year. So far consumers have stood behind the product, gobbled up every new model, and made it the one of the single biggest smartphone sellers. In the face of growing competition by the plethora of smartphones running competitor Google’s Android, it is imperative that Apple maintain their competitiveness in the saturating market. With the resignation of Apple’s CEO Steve Jobs and recent shaky stock performance, the new IPhone seems like the perfect opportunity to bolster consumer confidence and wrest the lead from Android. However this course of action does come with its inherent risks. With a new IPhone being released every year, the swift product cycle may leave consumers wondering about the value in investing for a new IPhone when it becomes obsolete the next year. On the other hand, the new IPhone could capitalize on new technologies like Cloud or HD video that could capture new consumer interest. With smartphones projected to be the majority of all phones by the end of 2011, Apple will have to play its cards right to get the most out of the IPhone 5.

Research in Motion has long been considered a leading company in telecommunications devices with its innovative Blackberry but the recent times have seen a massive downturn for the Canadian company. With its new Playbook only selling a dismal 200,000 units and its signature blackberry losing out to Apple’s IPhone in the last quarter, things are looking bleak for its future. Public faith in the company has also been shaken with the laying off of 2,000 of its employees and the record low stock price of $21.52. The main problem that RIM is facing is their previously lucrative market now oversaturated with Android and Apple products offering more attractive alternatives than the once dominant Blackberry.  The lack of Points of Difference RIM products have relative to its competitors simply means that Blackberry is losing relevance in consumer minds. In order for the company to pull itself out of its slump they will have to improve on their product positioning by releasing innovative new product far before its competitors like Apple of HTC or simply offer an alternative that has enough PoD to offset its late entry. Without change and innovation it is hard to see RIM survive in its oversaturated market.

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In the recent global recession, no country has been as hard hit or had so much publicity as Greece. With its recent scandal of bailouts, riots, and now a growing possibility of insolvency looming on the horizon, many of Greece’s closest economical allies are starting to lose confidence in the nation. Despite the government’s best efforts to control the crisis, countries like Germany and France who have invested 44.9 and 56.7 billion into the economy are beginning to make contingency plans. In my opinion organizations like the EU should not get in the business of bailing out failing economic systems like the one in Greece.

It is both unethical and unproductive to shore up a system that clearly hurting its citizens as evidenced by the nationwide riots and social instability. Failing companies often go into bankruptcy so that stronger competitors can take their place in the market and this situation is no different. It is my belief that no countries should be engaged in bailing out these economically failing countries because it exposes them to greater risk in the place of a possible Greek default. What do you think? Are countries ethically or economically obligated to bail out other countries?