In previous lecture, we have discussed about business ethics. It is important for companies to earn profits, but they should take business ethics into consideration while running their business.

Victoria’s Secret, Toys ‘R’ Us, Forever 21, Aeropostale, Apple, and Nike are the companies mentioned in the article that were found out that they were using child and slave labor.

Overvalue between short-term and long term might be the reason why companies are not running their business with ethical behavior. In short-term, it might be true that using child and slave labor will lower their production costs, but it is more beneficial if the company runs its business with ethical behavior. Firstly, in long-term, running a company with business ethics will tend to have more consumer support and this will lead to higher revenue. Secondly, running a company with business ethics will help the company to gain recognition and this will help to improve the brand name of the company. Lastly, running a company with business ethics will help to motivate the employees. Employee motivation is important because as the employees are enjoying working in the company, they will be more loyal to the company and this will help to increase their work efficiency.

In conclusion, as the company behaves ethically, customers will come atomically and they will help to increase the company’s profit.

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According to the article, the BC Hydro has planned on an 8 billion site C hydroelectric megaproject, which BC Hydro hopes to build a dam and 1,100-megawatt hydroelectric generating station on the Peace River in northeastern BC. However, the representatives of the BC First Nation chiefs highly encourage the government to reject this project due to several of reasons.

Supporting the hydroelectric megaproject will have a great impact on the First Nation’s homeland.

(1)Supporting the project will destroy First Nation’s farmland

(2)Supporting the project will cause a huge effect on fishing opportunities for the First Nation

(3)Supporting the project will use and occupy the area which belong to the First Nation people who use that area for ceremonies purposes

Personally speaking, before deciding whether to support or to reject the hydroelectric megaproject, I think the government should carefully consider both the benefits and the cost of the hydroelectric megaproject. I think that there isn’t a need to implementation the hydroelectric megaproject on the Peace River until this point. Also, since the Peace River is the homeland for many First Nation people, I think the government should show respect to them by talking and communicating with their representatives before destroying  their homeland.

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According to the news, Hong Kong government decided to raise the minimum wage of Hong Kong employees from H.K. $28 to H.K. $30 per hour on May 1, 2013. The chat is showing the minimum wages around the world, which Australia has the highest minimum wage of U.S.$16.88 per hour and Hong Kong has a relative low minimum wage of only U.S. $3.87 per hour.

In my opinion, many Hong Kong citizens, especially the low-income employees are suffering from the inflation, it is hard for employees to survive with such a low minimum wage in Hong Kong. But there are both pros and cons for raising the minimum wage.

Pros

– Raising the minimum wage will help people live out of poverty and will also help them to improve their living qualities.

–       Raising the minimum wage will help the overall economy because as people are earning a higher income, they will be more willing to consume goods and services that are in higher price.

Cons

–       Raising the minimum wage might lead to unemployment which means less job opportunities due to a decrease in demand for labour.

–       Raising the minimum encourage teenagers to spend most of their time on part- part job instead of attending school.

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Winnie’s blog is about how most of the people around the world are crazy fighting for the newest iphone 6. I totally agree with Winnie’s point of view, people are so crazy because Apple has an outstanding brand reputation. However, I don’t think this is the most critical reason, I think there are other reasons behind which make Apple such a successful company and become a threat to other companies.

I am interested in Winnie’ blog because I am a big fan of Apple’s products. As an iphone and a macbook user, there are a lot of reasons for me to purchase Apple’s products. Firstly, as Winnie has mentioned, Apple has established strong brand name and this is why people are trusting Apple’s products.  Secondly, Apple is a worldwide company, which also offers great in store customer services. You will always find an Apple store somewhere near you. Also, if you have any problem with any of your Apple products, you can always book an appointment online. Thirdly, I find Apple’s products easy to use since Apple’s products are all really similar to each other. Lastly, some people might consider Apple’s products expensive but I find Apple’s products very durable which I can use it for a long period of time. These are the reasons why I think Apple is so successful compare with other companies.

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The demand for eco-friendly products are recently increasing, more and more companies around the world are now willing to spend extra time and efforts to create and produce eco-friendly products. Although eco-friendly products might lead to a higher cost in production and a lower profit for the company, companies like Toms Shoes, Delikate Rayne in Los Angeles are stilling willing to produce eco-friendly products for their consumers.

According to the news articles (1), (2), (3), it is clear that people are now more willing to pay a higher price for eco-friendly products. There are several reasons that can explain this unusual trend. Due to promotions from government, environmental organizations and the raise in education level, people are now becoming more concern and aware about their environment. Consumers are willing to pay a higher price for eco-friendly products because they understand that this will help to reduce many environmental related issues such as global warming and pollution problems. Also, eco-friendly product has become a fashionable trend because of its special designs and packing, that’s why people are willing to pay a higher price for what they want.

I personally think that it is a great idea to support the green business because it is our responsibilities to protect our planet for our next generations and us.

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