edward

Being the founder and CEO of Harpo Productions, Oprah Winfrey has gained incredible amounts of success through her entrepreneurship. With her generated income from the Oprah Winfrey Show, Oprah created Harpo Productions, a media production company.

Oprah’s creation of new companies and services to consumers has made her one of the most successful entrepreneurs in the world. The amount of wealth creation Oprah has generated through Harpo Incorporated qualifies for the substantial wealth an entrepreneurship is expected to produce. Oprah has made enormous amounts of income rapidly with the businesses she manages. A majority of Oprah’s earnings from broadcasting were put towards the creation of Harpo Incorporated, which held very high risk. Innovation within Oprah’s companies has resulted in advancement in her entrepreneurial career, ultimately with the launch of the Oprah Winfrey Network.

Oprah’s contribution to the economy and society is outstanding, pioneering change while holding the characteristics of success. Oprah has taken advantage of opportunities, which have brought fortune to her career. The ability to identify these openings makes Oprah Winfrey an outstanding entrepreneur.

Reading Devon Hardie’s blog on “Teams”, I was able to relate to the various points she had brought up. I have been on many teams in the past, a majority of them sports related. Being in a team, you must motivate and encourage your team members, even when they lack the skills you are looking for. Encouragement leads to improvement. With my own experience, you must never get on the wrong grounds with your teammates. This leads to having your team not function properly until the issue is solved. Trust is a key factor within a team. Without trust, you and your teammates will not be able to work together. Having members specialize in different areas is of great value to a team. This allows experts of each area to excel and focus on that area, ultimately resulting in efficiency. Having teammates help the learning experience of being in a team. Many things can be learned from teammates, including areas of their field. I believe Devon’s blog is key information to those in a team. Teams work the same in any situation, whether it be sports teams or task-forces.

Since the release of iTunes in 2001, Apple has dominated the music download and media market. iTunes is especially popular because of its ease of use and synchronization abilities with the Apple iPod. Microsoft has attempted to attack Apple’s iPod with their launch of the Zune Music Player in 2006. With the Zune now discontinued, Microsoft is attempting to attack Apple again, releasing Zune Music, a potential substitute for iTunes. Reading Peter Nowak’s blog on CanadianBusiness.com, a unique option Zune Music has, is an option for unlimited music download at a monthly rate. Microsoft is aiming to popularize their current products with Zune Music. I believe that this will be very tough for Microsoft, as Apple already has almost complete control of the digital music and portable music industry. Consumers would not consider these large changes when they already have a respected, easy service and product: iTunes and the iPod. The large majority of the world is already loyal with iTunes and the iPod; Microsoft’s new service does not have a chance against iTunes in the present world. I could never imagine Zune Music being more popular than iTunes, as iTunes is already as good as it gets.

My reply to Long Wang’s blog about university:

This is a very interesting topic, Long, since both of us are currently university students ourselves! I came into university being told that it would definitely provide me with a easier lifestyle after I graduate. I have honestly realized that attending university does not guarantee one a more successful life after the many tough years. I know of many who do not have a university or even high school education who are very well off. Not to say that not receiving an education guarantees benefits, however as the populate is growing rapidly, and many are receiving the same education, the chances of one standing out is limited. University in my opinion is now becoming like high school; you are expected to attend university after you graduate from your previous institution. This shows how an university education or diploma is depreciating in value. Having a diploma is not as unique as before. I believe that on top of an university education, one must aim to go beyond, approach opportunities, and aim to be unique in a good way. That is one of my values in life, and I hope to reach it.

A marketing intern, suggested through the Globe and Mail, the top three concepts he had learnt that helped him gain success during his internship at Wickware Communications. For one who is planning to achieve a master of business administration degree, this article was very interesting to me. The first idea stated was to determine your niche, stick to it and own it. Staying with a narrow and specific market allows businesses to have a strong identity and gain success in that industry. I agree with this belief, as a business that are widespread and in multiple directions will not have advantages. The second point that is stressed is to allow your employees be responsible for the business itself, and inspire them to become leaders. This is absolutely true, as employees who are given important responsibilities will strive to achieve more. The last concept states how community involvement and consumer connections are significant towards a company. Shown interest towards your customers is extremely attractive towards all, which will inevitably bring success in a business. These points are extremely factual and helpful, ones that I am looking forward to recognize in my future years of study and business.

Read More

A new type of vending machine has opened in a Beijing central mall, aiming to satisfy the growing demand for gold in China. Gongmei Gold Trading Company launched the gold bar and coin dispenser, only to discover a system malfunction. They plan to bring the machine out to the public once they have repaired this error. The demand for gold in China has recently risen significantly, being the world’s second fastest growing market for gold. The gold ATM vends gold bars and coins at constant updated prices, providing consumers a quick and easy method for investment. I personally do not believe that a gold vending machine will be very much successful especially in the city of Beijing. Chinese gold investors are usually keen about their savings and would rather acquire gold from a more trustworthy resource. Despite the shown interest of many towards this machine, I can imagine that little to none will truly depend on a gold dispensing ATM and stick with tradition. With a large population, a gold vending machine in China is also prone to theft. I predict that the Gongmei Gold Trading Company will ultimately remove the gold vending machine.

Read More

Lululemon Athletica previously claimed that a line of their clothes was made out of seaweed fibers. This was ultimately proven to be false, as a laboratory test on the fabric was performed. Their supplier of the seaweed fiber, a company named Smartfiber, states that it holds no liability for the accuracy of there being seaweed in their fiber. Lululemon has grown rapidly in popularity due to their claims of their clothes improving health. They have not tested the “seaweed” fibers themselves, and have continued to advertise their apparent seaweed clothing line. I believe that Lululemon cannot be given complete blame for this false advertisement. Since the company was new at the time, they could not have afforded product testing. With this, they could not have known that they were responsible for unethical business, and false advertisement. I myself am still attracted to their proven comfortable products, even though Lululemon was verified to be untruthful. Even though Lululemon claimed their quality of clothing to be much more superior, it lives up to that standard, truly being much more comfortable than traditional athletic clothes and one of a kind. In my opinion, the unethical blame should be directed completely towards Smartfiber.

Read More