COMM 101 105 UBC – Wong, Yen Fung

Blog Link: Have Brand Pages Give Google+ New Life?

There have been great commotion around the launch of Google+, a social media site that offers great competition for Facebook. Since launching, Google+ has attracted more than 40 Million users, claiming its record as the fastest growing social media program. This puts it in a great position to challenge and compete with Facebook, the established powerhouse of the Social Media market. I believe Google+ would also grow to be as successful as Facebook with some time. This tends to be the case for Social Media as users have to get used to the platform before being fully utilized. In addition, Social Media requires interaction between users. With great growth in users being forecast, Google+’s success seems imminent.

With regards to the blog, i feel that brand pages does breath a new life into the Social Media site. New brand pages would entail a new look, making users captivated with the site. This eventually retains users, propelling the usage of the site. Google+’s brand pages would definitely provide leverage for the site, allowing it to compete with Facebook and other social media sites that are popularly being used by people around the globe.

Video with relate to Google+ and what it actually does

Google+ would evolve to become another success story after Facebook and other success Social Media sites out there.

Picture Sources: Facebook vs Google+ ,  Google+

Blog Link: Business Ethics: Steroids in Baseball – Ganasan Ponjani

It is common sight for steroids to be utilized by sports players nowadays to boost their performance. This relates closely to ethics, as seen from an business perspective.

As highlighted in Ganasan’s post, steroids does make the game more interesting and exciting through the record-breaking efforts of athletes. People also enjoy such games as it would be  more entertaining than previous ones. However, the ethical parts come into play when players adopt steroids as a form of performance enhancer. Games could be fixed, resulting in monetary issues arising. This tarnishes the sport’s image as compared with other sports around, reducing its viewership potentially.

Ethical behavior is of utmost importance for both baseball and business. Without it, businesses would not be able to maintain its credibility, thus eventually leading to bad business performance. Businesses should be ethical, as seen in the context of baseball.

Forms of ethical behavior in business includes

1. Financial Ethics
2. Marketing Ethics
3. Production Ethics
4. Environmental Ethics
5. Intellectual Property

Blog Link: What Will Happen to Apple After Jobs – Leon Li Wei

With regards to this post by Leon, i agree to some extent that Apple will be affected by Job’s death. The death of Steve Jobs was a big blow to the entire Apple Company as he was a visionary leader that propelled Apple to its current position today. Without him leading, Apple could falter in its track, eventually allowing competitors, to catch up.

The innovation that Steve Jobs had on the industry as a whole, was tremendous and cannot be forgotten in the near future.

For one, Apple’s lost meant that the company might not be as innovative as it was with Steve’s leadership. This could prove to be disastrous as customers might lose faith in Apple’s product, drawing away loyal customers. This could affect Apple’s growth for the future, thus the reason as to why i believe Apple might be affected by Steve’s death.

I believe Steve Jobs might have left a legacy at Apple that would allow its future success. Capitalizing on this legacy that was left behind by Steve, the new leader at Apple, Tim Cook, would be able to lead Apple to its success.

Apple would continue its strong hold on the market.

Picture Sources: Steve Jobs RIP, Steve Jobs Silhouette 

With Facebook and social media being the topic around talks nowadays, it is common to see the booming of entrepreneurship around social media market. Mashable.com, a site that provides fast and hard information about the social market is a new site that should not be missed.

Founded in 2005 by current CEO of Mashable, Pete Cashmore, the website is growing in popularity among advent social media users. Pete was even listed as one of the top 10o people in the world by Times magazine.

Such a form of business can be classified as a form of entrepreneurship. With the social media market being a new form of market, this site can be classified as a new product that is derived from the new market. This essentially touches on innovation and product differentiation, making Mashable an one of a kind business that dominates the market demand for such services.

This form of entrepreneurship is bound to develop in following years to come, when the social media market stabilizes.

A video showing what Mashable.com is and its users.

(The Conversation Prism – A map of Social Media in the World today)

With the boom of social media around the world, more and more companies are likely to begin relying on such trends to carry out operations. Utilizing operations with social media can be advantageous if done correctly. One example of a successful company that uses social media for its operations is Zappos (Additional Information on Zappos), an online shoe and apparel company that was covered in class. Zappos’s success was fueled largely by its efficient and successful use of social media as a platform to promote its business.

The article touches on the future of job performance reviews becoming social. This could be linked to Management Information Systems (MIS) and Business Technology Management (BTM) that was covered in class. With IT becoming an integral part of people’s life, the use of MIS and BTM in businesses would grow. The fact that companies are beginning to utilize social media as part of management signifies the integration that is beginning to appear.

Performance review are deemed as “report cards” for employees. Making them more accessible and attractive would improve the chances of employees checking on their progress and thus, allowing them to work on areas that require improvement. With the bad reputation that job performance review have among workers, the revamping of it through BTM and MIS could prove to be a game-changer. Time and statistics will justify the great success of utilizing social media as a management tool.

Seems like social media is becoming increasingly prominent in our life. Social Media is the next big revolution.

Article Source: Swallow, Erica. “Why Job Performance Reviews Are Going to Get Social [INFOGRAPHIC].” Social Media News and Web Tips -€“ Mashable – The Social Media Guide. Mashable Inc., 29 Oct. 2011. Web. 31 Oct. 2011. <http://mashable.com/2011/10/29/job-performance-reviews-social-infographic/>.

In the following weeks, Zynga would be traded on the NASDAQ. This comes after much delays and issues regarding its filing for Initial Public Offering (IPO) (Video Explanation). This is closely related to Groupon’s situation as discussed from class. IPO of Groupon, was delayed due to various accounting discrepancies. Zynga was also faced with such problems when it filed for IPO with the Security and Exchange Commissions (SEC). The news of Zygna’s IPO was confirmed by the SEC after successive alterations to their financial reports. Events of falsification in accounting could be disastrous to Zynga. Investors might grow to be skeptical of the company, turning away enormous investment funds away from the company. Thus, accurate accounting practices (GAAP) are of paramount importance. Accounting principles must be adhered for companies to successful bid for IPO with the SEC, and earn trust of investors.

Pertaining to the rapid push for IPO release,  Zynga’s quick push for IPO is for capitalizing on the market’s volatility. Social Media market is deemed as a rather immature market. Thus, changes are occurring rapidly. More and more social media companies are filing for IPOs to boost the funds they have. The recent social media IPO boom pushes Zynga to launch its IPO as quickly as it can. Zynga is trying to speed up their IPO to optimize the benefits that can be reaped.

Videos below provide valuable insights on the topic.

Article Source: Rusli, Evelyn M. “Zynga Is Headed for the Nasdaq.” Mergers, Acquisitions, Venture Capital, Hedge Funds – DealBook – NYTimes.com. The New York Times Company, 13 Oct. 2011. Web. 24 Oct. 2011. <http://dealbook.nytimes.com/2011/10/13/zynga-is-headed-for-the-nasdaq/>.

For those who are flabbergasted by the sports car that Lamborghini makes, hold on to your seats. Lamborghini’s CEO, Stephan Winkelmann revealed that in a few weeks, the company would release a third model for the historic brand. The new model could be anything, ranging from a SUV to a Sedan, or something that is out of this world. Currently, Lamborghini has only two models of luxury sports car. As such, the company has plans to reach out to a greater variety of customers by introducing a third model that is more affordable and more functional. (Lamborghini once produced Military Grade SUV when it was under Chrysler)

Such a move by Lamborghini is vital to its survival in the auto mobile industry. With luxury brands like Ferrari and Porsche offering a variety of models, Lamborghini must follow suit in order to remain competitive. This is relevant to the Value Proposition of Lamborghini in consumer’s mind. By leveling its Point of Parity with other luxury brands and expanding on its Point of Difference with other luxury brands, Lamborghini can effectively propel its brand position over its competitors. This marketing concept is vital to any company that is wishing to establish themselves over its competitors.

Article Source: Padgett, Marty. “Lamborghini: We’ll Confirm Third Model Within Weeks.” Luxury Car News, Reviews, Spy Shots, Photos, and Videos – MotorAuthority. Motor Authority, 4 Oct. 2011. Web. 09 Oct. 2011 <http://www.motorauthority.com/news/1066849_lamborghini-well-confirm-third-model-within-weeks>.

Picture Sources: Source of Value Proposition, Source of Lamborghini Logo, Source of Lamborghini Concept SUV Car

The title says it all. Groupon Inc have decided on cutting their marketing fees significantly as they felt that the investments made on their marketing strategies were not yielding satisfactory returns. The various sections that are at Groupon Inc must have weighted the cost and benefit of cutting marketing costs before coming to such a rational decision. This relationship and cooperation within the different sections of a company ties into one of the lessons that was covered in class. The idea of Departmental Connections.

For Groupon, the decision to cut marketing costs tremendously involves various departments. Accounting section, Marketing section and Finance section could all be related to such a move by Groupon. For one, Marketing costs are being budgeted and accessed by the Finance and Accounting department before it is being released to the Marketing section. The Marketing department also require the Finance and Accounting section to aid in their overall expenses allocation before they execute their plans. From this, it is clear that there are much interactions and connections between different sections of the company. This further illustrate the fact that all sections of the company are dependent and inter-related to one another.

Don’t you think that the smooth cooperation within the various departments would result in an efficient and successful company? Share your comments below.

 Groupon’s Official Website for all coupon lover

YouTube video of Groupon’s commercial for those who are unsure of what they do.

Just for the fun of it, I have thrown in a commercial from Groupon that was played during the Super Bowl.

Article Source: Heiskanen, Ville, and Douglas MacMillan. “Groupon Says It Plans to ’Significantly’ Cut Marketing Spending.” Businessweek – Business News, Stock Market & Financial Advice. Bloomberg L.P., 7 Oct. 2011. Web. 08 Oct. 2011. <http://www.businessweek.com/news/2011-10-07/groupon-says-it-plans-to-significantly-cut-marketing-spending.html>.

Picture Source: Source of Groupon Picture

In a few more weeks, air travel would be revolutionized  by the arrival of the Boeing 787 Dreamliner aircraft. After nearly three years of delay, the aircraft’s maiden passenger flight would be operated by All Nippon Airways, (ANA) from Tokyo to Hong Kong. The reason behind all the buzz of this aircraft is due to the major technological advancement in the production and operation of aircrafts.

The Boeing 787 Official Website

As quoted from the article, “It’s the first of a new generation of aircraft that despite more than three years of delay holds the promise to fly faster, farther and with more fuel efficiency and passenger comfort than predecessors.” (Los Angeles Time, 2011)

Those wishing to get insights regarding the new aircraft can follow this link.

 The major improvement of the aircraft makes it a lucrative investment for airlines from all around the world. This ties into the component of finance that was discussed in class.

When companies decide on their investment decisions, they will certainly turn to the concept of time value of money. (TMV) The fact that investing in such a huge sum of money requires careful weighing of  the returns that can be reaped. The analysis that was done by the airline definitely indicated that investing in the money now would be better off putting it in the bank and earning interest. (Considering the cost savings and revenue that is derived) Thus, the investment was made by ANA.

Video that explains the basic concept behind the time value of money (TVM)

With more and more companies investing in Boeing 787, it would become the future face of passenger aircrafts.

Article Source: Hennigan, W.j. “Boeing 787 Dreamliner the First of a New Generation of Aircraft.” Los Angeles Times [Los Angeles] 1 Oct. 2011. Los Angeles Times – California, National and World News – Latimes.com. Los Angeles Times, 1 Oct. 2011. Web. 04 Oct. 2011. <http://www.latimes.com/business/la-fi-cover-jet-revolution-20111002,0,7915062.story>.

Picture Source: Source of ANA Boeing 787 Dreamliner Picture

Facebook’s founder and CEO, Mark Zuckerberg introduced a redesigned Facebook profile page at the annual f8 conference. Being held annually, the conference also saw the release of Timeline, an application that allow one to tell their whole life story through a single Facebook page. The launch effectively redefined how Social Sites function in the society today.

(Anyone interested in the full content of the conference can check out this link.)

I feel that such a move is an exemplary example of product differentiation in the business world. Through product differentiation, companies can make its product stand out from the rest of the competitors in the market. For Social sites, it would mean increased users, thus more revenue from advertising on their sites.

Though beneficial, i feel that there are downsides to the changes on Facebook. For one, old users  might not be able to adapt to the changes that are being made, resulting in old users switching to alternatives that they find more comfortable with. Another cause of concern could be the security issues involved with more personal information released. With people putting more private and personal information onto Facebook, there is increased pressure on Facebook to prevent hacking of such information.

There are pros and cons to the changes made on Facebook.

Different People have Different views. So what do you think of such a move by Facebook?

Article Citations:  Barnett, Emma. “Facebook F8: Zuckerberg Announces Revamp.” The Telegraph. Telegraph Media Group Limited, 22 Sept. 2011. Web. 26 Sept. 2011. <http://www.telegraph.co.uk/technology/facebook/8783010/Facebook-f8-Zuckerberg-announces-revamp.html>.

Picture Sources: Source of f8 Logo