I used to work at this sushi restaurant all throughout Grade 9 until the beginning of university. Before the summer, we used to be located on a corner of 152^nd and 16^th, which is a very busy intersection. What set us apart from other stores was the giant fireplace that sits right in the center of the restaurant. There are windows that provide a 180+ degree span of the busy intersection for customers to people watch. All of these were a competitive advantage, and value proposition for us, compared to the seven other sushi restaurants around in a one kilometer radius (White Rock is very small with a population of around only 20 000).

However, this summer, the leasing ended and the restaurant decided to move right next door, into a location that is far less visible than the last. The sales had significantly decreased by a whopping 30% and ongoing construction of our old location as well as right next door, impacted the image and quality of our restaurant.

Not only did our loyal consumers fail to find us in our old location due to the construction, they didn’t even know that we had reopened! The owners of Kuroishi invested a lot of money into a larger space, new employees, and new accessories. To add to their costs, Kuroishi also has a very low employee retention rate. Hired employees are usually high school students who leave or quit before they graduate to go to university. The total costs that go into training these employees are high since the turnover ratio is also very high. It will be a long while before the owners of Kuroishi get a positive net return on investment due to the decreasing consumer base and a high turnover ratio.

Check out their latest investment: a new website!

Image Reference:

Amazing Sushi! Digital image. Kuroishi Sushi. N.p., n.d. Web. Nov. 2013.                                       <http://kuroishi.ca/>.

Kuroishi Japanese Cuisine – Tuna Avocado Salad. Digital image. Urbanspoon. N.p., n.d.              Web. Nov. 2013. <http://www.urbanspoon.com/rph/14/1493952/963632/vancouver-            kuroishi-japanese-cuisine-tuna-avocado-salad-photo>.

I’m sure many of you have shopped online for clothing, for shoes, for accessories and more, but, have you ever thought about buying perishable foods online? Taking a look at Alison’s blog, I found this one blog post very intriguing.

At first thought, there are numerous concerns that come to mind; for example, the quality of the groceries you would receive, the expiry dates, etc…There are pros and cons to having an online grocery shopping place. Both Alison and I wonder if there would there be a large enough demand for this type of service? At second glance, however, this is a supply chain that hasn’t been tapped into often by other grocery stores; this is a great competitive advantage for the company. If the service’s target market is the older generation, it would a great strength. Buying groceries online would be very convenient, and more preferable for elders (or for handicapped people) that have restricted mobility. Alison touched on another strength of the company; buying groceries online has the ability to curb impulse buys that usually happens are grocery stores. Compared to in-store where you can just grab a chocolate bar or a treat on your way to the checkout, online you would have to go find it first, in order to buy it. All in all, I found this blog post really eye-opening and interesting!

Click on these links to:

Check out the Initial blog  that inspired Alison to blog about grocery shopping online.

Try buying groceries online here!

If your curious about Alison’s blog, click here!

 Image Reference:

E-commercefacts. Digital image. Germans Not Yet Ready for Online Supermarket –. N.p.,             n.d. Web. Nov. 2013. <http://www.e-                                                                                       commercefacts.com/background/2012/03/german-online-groceries/>.

What’s the next best thing to transit when you don’t own your own car? Car2Go, of course! I’m sure you have seen plenty of the little smart cars, with the Car2Go logo, zooming around downtown and even at UBC. The Car2Go company has many strengths; they are very convenient, easy to use, affordable, easily accessible, and a well known brand!  The ease of accessibility is due to their many Car2Go station locations and their squad of over 300 cars in Vancouver. The smart cars can be found all over Vancouver downtown and even at the UBC campus. Not only are they convenient, they also take care of your parking costs! Although Car2Go has a unique idea, they have a new competitor: Zipcar. This company is similar to Car2Go, but they have a competitive edge to them: they offer a different variety of cars to suit anyone’s taste. This is an external weakness that Car2Go has to overcome or top, with their own competitive advantage.

Want to find a new, cool way to travel? Check out a Car2Go video here or even, get a membership at their website – There are always discounts and free minutes given out!

Video: http://vimeo.com/26147526

WEBSITE: https://www.car2go.com/en/vancouver/

Image Reference:

Simply. Always. Everywhere. Digital image. Hello Austin. N.p., n.d. Web. Nov. 2013.                         <https://www.car2go.com/en/austin/>.

Lean Reflections: Car2go on Demand Service Comes to Vancouver. Digital image. Lean                 Reflections: Car2go on Demand Service Comes to Vancouver. N.p., n.d. Web.                   Nov. 2013. <http://www.leanreflections.com/2011/04/car2go-on-demand-service-               comes-to.html>.

There are too many paths to choose in the Business major; do I want to go into finances, marketing, human resources, accounting, etc… Throughout my high school years, and now first year in university, everyone constantly tells me that I still have a lot of time to decide. There isn’t time though, since some programs, like the PMF program, look for dedicated students that know what they want to do, and are highly motivated to do it.

I heard about PMF at Finance 101 where an actual Sauder student that is in the program, came to do a presentation. I was taken aback to hear the responsibilities and roles that the students take while being in the program; they actual work in the real stock market, and handle large amounts of money. It is definitely a large commitment, both time wise and effort wise. The presenter talked about the hardships of building up to a net positive ROI and being able to do well in the ever-changing stock market. From there, I discovered that although I’m not in a good position to risk investing money in my current situation, I have an interest in dealing with stocks in the near future.

Read more about the PMF Program at:

http://www.sauder.ubc.ca/Faculty/Divisions/Finance_Division/Programs/~/media/448BFF3ADBC34B5EA72747EC6889BD98.ashx OR

http://www.sauder.ubc.ca/Faculty/Divisions/Finance_Division/Programs/PMF_Program/Program_Overview

Image Reference:

Sauder School of Business. Digital image. PMF Program Overview. N.p., n.d. Web. Nov.                  2013.                                                                                                                                          <http://www.sauder.ubc.ca/Faculty/Divisions/Finance_Division/Programs/

PMF_Program/Program_Overview>.

Where have you seen a giant, yellow rubber duck from? The Richmond Night Market of course! For many, it’s a novelty, for others, it’s a great place full of good memories. The layout of the market allows the customers to be able to see a variety of things at the same time. All the stands are next to each other making it convenient to explore different cultures and have fun as well as grab delicious food. The very famous market is located at a convenient location, making it increasingly successful each year. Stationed only a five minute walk away from Bridgeport Skytrain Station, it is a place that not only convenient to go to, but it also appeals to a large range of ages, and people from all ethnicities. There is plenty of parking available and for those that want to be eco-friendly or don’t have cars, they can just use transit! These many different factors are what make the night market such a success. In addition to its luring aromas, the night market also advertises itself on the web, on the entire body of skytrains, and most effectively, through word of mouth to its consumer base. This place is definitely a conversation starter, and a must-see.

Image Reference

Vancitybuzz. Digital image. Vancity Buzz Vancouver Events News Food Lifestyle and                   More. N.p., n.d. Web. Nov. 2013. <http://www.vancitybuzz.com/2013/08/flickr-buzz-           august-13-2013/>.

If you’re interested in learning more about this exciting night market, click this link! – http://www.richmondnightmarket.com/

Why are we confident?

In a recently released Small Business Confidence Report by the Bank of Montreal, it can be seen that numerous small businesses are more optimistic about 2014.

The Facts

In the past couple of years, the bad economy has affected all the businesses; however, the index of confidence for small businesses has been gradually increasing through the past few years. The fact that 46 percent of businesses plan on hiring more employees is great; less people will be unemployed and there were be a better distribution of income.

Prospects of 2014

I feel like in the coming year, with more effort and more hope in these companies and industries, the economy will be better. Less families will be tight on money and the country will become a little more prosperous than before. The fact that 76 percent of the businesses plan to upgrade equipment, and 45 percent of businesses plan to upgrade technology and systems means that they are either increasing their production or they are introducing a new product. This desire of upgrading hints that the businesses are earning enough money to expand and invest more into capital and others. Although these businesses will come across competitors and other barriers to entry, I believe that next year will turn out to be more successful than the last.

Read more into it at :

http://globalnews.ca/news/887220/small-business-confidence-on-upswing-bmo-survey-shows/

AND

http://www.financialsense.com/contributors/bca-research/slowdown-in-canada-brings-even-odds-of-recession-next-year

AND

http://www.forbes.com/sites/billconerly/2013/03/19/economic-forecast-update-2013-2014-light-to-moderate-growth/

Image References:

BMO, Bank of Montreal. Digital image. Beach BIA –. N.p., n.d. Web. 07 Oct.                2013. <http://www.beachbia.com/Businesses/BMO,-Bank-of-Montreal>.

Canadian Business Remaining Confident. Digital image. CREBNow RSS.                    N.p., n.d. Web. 07 Oct. 2013. <http://www.crebnow.com/canadian-                    business-remaining-confident/>.

What’s a great money earning strategy? Cybersquatting!

I have to say, it is a very smart notion; buying and securing domains that big companies would want is a good investment. Even though it creates a lot of trouble for the big companies, it is very profitable for the person that the company would have to buy the domain from.

ON ANOTHER NOTE 

Although reading the fine print may be hard, it is best to read it anyway, just in case one day you need to take an issue to court. The majority of people, if not everyone, usually just check the “I agree” box without actually reading what they’re agreeing to; I admit, I don’t put in the time to read the fine print either. This article illustrates a lady, Katerina Braverman, who loses her website to her former business partner. As of recent, her partner had taken the site and changed it for her own business, which is a direct competitor to Braverman’s business.

I’ve bought a domain and worked on various sites before; it really sucks to have all your work and your business jeopardized just because of a former business partner. Business owners should ensure the security of their domains and make sure nothing jeopardizes these domains; to lose all the hard work, that you have put in to making your company successful, is extremely stressful and off-putting, especially if you decide to take it to court. You lose the money you have invested in your site, and also through legal proceedings.

For more information on this topic, take a look at the original article on Global News at this link!

http://globalnews.ca/news/887279/business-owner-beware-securing-your-domain-name-can-be-tricky-and-costly/

Image Reference

Ingyenes a .ga Domainek Regisztrálása. Digital image. ITE.hu. N.p., n.d. Web. 06 Oct.          2013. <http://ite.hu/ingyenes-ga-domainek-regisztralasa/>.

What Is a Domain? Digital image. IP-1 Simple about Complex. N.p., n.d. Web. 06 Oct.          2013. <http://www.ip-1.com/wiki/what_is_a_domain_.htm>.

What do crime occurrences do to businesses? It causes insecurity, panic and bad business as seen in LRPS’s downtown businesses over the past summer. This event is of high urgency and great importance to the businesses since not only do the businesses have to hire more staff to ensure security, they also have to make more safety precautions; for instance, they have to invest in the installation of a panic button. These aren’t the only factors affecting the businesses downtown; I would think that due to the possible occurrence of crimes in that downtown area, regular or past customers may now avoid that part of town. Since the police force is small and the group of officers dedicated to patrolling the downtown region isn’t subjected to patrolling 24/7 everyday, people still feel very vulnerable. Due to the potential of crime, these customers may change taste or find another substitute or product in order to stay safe. The new businesses would have a tough time finding loyal customers (barrier to entry), while the old businesses would have a tough time keeping their customers (rivalry). All in all, the businesses suffer from this unfortunate stabbing incident.

For more information about this article, check it out at this link! http://globalnews.ca/news/844415/downtown-businesses-raise-concerns-after-weekend-stabbing/