What’s the biggest news in China recently? The answer is APEC. Yes, APEC is now taken place in Beijing, gathering leaders from different countries to make important decisions in the pursuit of creating a better business community around the world. There is one highlight on today’s news releases that catches my eyes: Obama touts new China visa deal as way to create U.S. jobs. To me such decision will benefit both China and US because it will help pursue a sustainable development in the business community.

According to the triple bottom line, extending Chinese citizens’ student, business and tourist visas will fulfill social, financial and environmental portions of the three-factor diagram. Below are my analyses.

Socially, such move will help Chinese citizens build up a sense of belonging in US. They will have a longer time experiencing in US, sharing US culture with local people. At the same time, US will build more culture diversity. Extending the visa will benefit both US and China and not to exploit any single one of them.

Financially, extending visas will help attract more students, more tourists and more knowledgeable people to come to US. A White House statement said by 2021, Chinese travelers to the United States will contribute nearly $85 billion a year to the economy and support up to 440,000 jobs.

Environmentally, I haven’t come up with any potential benefits brought by extending Chinese citizens’ visas. However, I truly believe such action is a great progress made by both leaders of US and China. Such sustainable decision will eventually improve economic ties between the two countries, bringing the relationship between theses two countries to the next level.

References:

Picture1: <http://www.usatoday.com/story/news/world/2014/11/10/apec-beijing-obama/18786007/>.

Picture2: <http://www.powerhousegrowers.com/wp-content/uploads/2013/10/the-triple-bottom-line.jpg>.

In class 19 we learned that building up a successful organizational culture is tightly related to the performance of human resource management. In other words, it seems to me that the leader of a working firm is creating a pattern of shared value while the employees are trying to fit into the environment created. However, I believe that organizational value is not merely defined by certain head persons, but rather created by all employees in the firm. As a result, everyone has the responsibility of contributing to the creation of organizational culture.

We have witnessed a public drama of organizational culture run amok – the case of the Miami Dolphins football team. It’s too naïve to think that locker room bullying, racial slurs and harassment happened because of the leader didn’t define an organizational culture and try to implement it. As leaders of such famous football team, they definitely did. From my point of view, the truth behind such scandal is that all the players didn’t fall in line because they didn’t agree upon the doctrines existed. Organizational culture is not just about words. Instead, it’s something created when all employees communicate and unanimously agree with each other. It’s predictable that if all the players in Miami Dolphins football team respect each other and find shared value together, such verbal and physical abuse could be totally prevented.

As a result, we really need to question ourselves: who is the real person in charge of creating organizational culture? Employers or Employees? I believe it’s the latter.

References:

Picture1: <http://barry-overstreet.com/wp-content/uploads/2011/12/Effecting-Organizational-Culture.jpg>.

Picture2: <http://articles.sun-sentinel.com/2013-11-05/news/sfl-miami-dolphins-bullying-scandal-20131105_1_chan-lowe-bullying-problem-scandal>.

I recalled a quote by Thomas L. Friedman when preparing for class 20, “[Social entrepreneur] is usually someone who burns with desire to make a positive social impact on the world, but believes that the best way of doing it is, as the saying goes, not by giving poor people a fish and feeding them for a day, but by teaching them to fish, in hopes of feeding them for a lifetime.” It’s pivotal to realize that in order to unlock people who are trapped in hopelessness, we need to pave paths for them, instead of offering them temporary fund and leave them sink again if the fund doesn’t work out.

Therefore, Arc or social enterprise has to be implemented in society even if the United Nations was fully funded. United Nations could only relief the pain transiently by giving out money. Sitting high up on the social hierarchy, UN outlooks the world in a much more general point of view. Who thinks UN would care or even know Ms. Tesfaye in Ethiopia risking of failing her restaurant? However, social enterprise will; Arc will. After attending the Arc Initiative workshop and inspired by other entrepreneurs in her country, Ms. Tesfaye successfully increased her profit not only for present, but also for future.

As a result, I truly believe that UN sets up a guideline for the world to generate social value and social change. However, I am sure that without these social enterprises’ dedicate work, people who are suffering in some corners of the world will never learn how to change their future using their own hands.

Reference:

Kroeker, Jeff. “In a Crowded Market, Entrepreneur Finds a Sweet Way to Stand out.” The Globe and Mail. The Globe And Mail, 11 Apr. 2014. Web. 08 Nov. 2014. <http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/going-global/in-a-crowded-market-ethiopian-entrepreneur-finds-a-sweet-way-to-stand-out/article17912688/>.

Todres, Mathew, and Patricia Lewis. “Http://www.isbe.org.uk/Why-Social-Entrepreneurship-Matters.” Why Social Entrepreneurship Matters. Institute For Small Business and Entrepreneurship, n.d. Web. 9 Nov. 2014. <http%3A%2F%2Fwww.isbe.org.uk%2FWhy-Social-Entrepreneurship-Matters>.

Pictures1: <http://mbanogmat.com/files/2014/05/socialEnt.jpg>.

Picture2: <http://www.sauder.ubc.ca/Global_Reach/ARC_Initiative>.

There used to be a stereotype sticking in my mind: an entrepreneur is someone who comes up with the groundbreaking idea and eventually put that spark of mind into practice. However, when I recently perused a blog about entrepreneurship, my definition of becoming the best entrepreneur has totally changed.

The blog reiterates that a good entrepreneur doesn’t just come up with great ideas, which contradicts with a common idea that entrepreneurship exactly equals innovation. Indeed, linking previous classes, I realize that the most successful entrepreneur is someone who is tough, practical, executing the idea rather than creating it. For example, I recall the Sauder Alumna Ms. Shizu Ocusa. Her success of creating her own business is not because she generates an innovative idea, but because she assembles a great team and implements the idea of producing fresh juice efficiently and profitably.

On the other hand, the blog I read provides another new angle of viewing entrepreneurship: the best entrepreneur solves market needs. I completely agree with the idea that “[we] come up with wonderful ideas all day long but unless they satisfy a large enough need, one that can support a business, they don’t do anyone any good.” Indeed, creating a successful business is based on revenue breaking even with cost and eventually creating profit. As a result, I believe we all want to start with a market need.

It’s always surprising to find a redefinition of something we already build a stereotype on. Inspired by such blog on entrepreneurship, I can’t wait to have a real practice in the next future.

Reference:

Brown, Paul B. “The Best Entrepreneurs Don’t Come Up With Great Ideas, They Solve Market Needs.” Forbes. Forbes Magazine, 5 May 2013. Web. 08 Nov. 2014. <http://www.forbes.com/sites/actiontrumpseverything/2013/05/05/if-you-come-up-with-a-great-idea-someone-might-pay-you-1-solve-a-market-need-and-you-can-basically-charge-whatever-you-want/>.

Picture1: <http://med.stanford.edu/careercenter/images/highlights/entrepreneurship_clipart.gif>.

Picture2: <http://www.jrinkjuicery.com/work/>.

Recently, my classmate Aiken Lao’s blog debates the feature between Lululemon and Dalai Lama. Similarly to many blasted critics online, Aiken argues that Lululemon is deliberately using the corporate social responsibility rather creating corporate shared value. However, going back to the definition of “shared value”, I would like to take on the opposite side to argue that the shared value is created when Lululemon “hooks up” with His Holiness.

For years, Lululemon has covered their shopping bags with quotes and expressions from the Dalai Lama Center’s Five Domains of Hear-Mind Well-Being. Such action not only defines characters for Lululemon, but also expands Dalai Lama’s core idea of mindfulness and a non-judgmental awareness on the presence. Rationally speaking, I believe that Lululemon’s partnership with Dalai Lama helps raise awareness of developing compassionate minds, which at the end empowering healthier communities. Such action simultaneously advances social conditions in our community.

It seems a huge contribution that Lululemon will give $250,000 CAD annually over the next three years to Dalai Lama Center. Does that mean such give away will hindrance the company from generating more profit? The answer is definitely no. Lululemon is creating a bigger pie instead of voraciously grabbing more from the existing small pie. By establishing partnership with Dalai Lama, Lululemon attracts more customers who share the idea of healthy and mindful lifestyles, therefore generating more profit for the company.

Obviously, it’s too narrow-minded to state that no corporation should be associated with Dalai Lama. Instead, when the pivotal opportunity of creating a bigger pie comes up, the smart company will grab it.

Reference:

Picture1: <http://media.lululemon.com/pics-and-videos/His-Holiness-the-Dalai-Lama-with-lululemon-athletica-CEO-Laurent-Potdevin-f7.aspx>.

Picture2: <http://4.bp.blogspot.com/-qH_F4f6bqws/TZfkshCZ8LI/AAAAAAAAAAg/U9bQGk27rbE/s1600/Lululemon-Bag.jpg>.

Hunnings, Alexendra. “New Couple Alert: Lululemon Hooks up with Dalai Lama (Center for Peace + Education) – Your Community.” CBCnews. CBC/Radio Canada, 24 Oct. 2014. Web. 07 Nov. 2014. <http://www.cbc.ca/newsblogs/yourcommunity/2014/10/new-couple-alert-lululemon-hooks-up-with-dalai-lama-center-for-peace-education.html>.

Recently, I have perused Angel Guo’s blog post analyzing Apple delaying its launch of iPhone6 in China due to the Chinese regulatory laws. Apple Inc., as a company who seeks global expansion to create more profit is definitely facing a dilemma in China. Angel’s use of SWOT certainly helps me to realize political issues Apple faces when expanding globally. However, by applying another useful tool PEST Analysis, I do believe that more factors contribute towards Apple’s stagnant movement in foreign countries.

A PEST analysis on Apple I encountered complements Angel’s post on political issues Apple is facing in China. It is undeniable that there are many political problems, which cannot be controllable by the company. In such condition, Apple should appeal to foreign countries’ governments stating that it does not have an inclination to threat national security, which is the prior issue a government worries about. I also take a look at economic factors because purchasing power depends on the World’s economic conditions. According to past few years, purchasing power in countries like China is declining, which negatively affects the sale of Apple product because its high price. In such condition, Apple may need to readjust its high price to increase its revenue in the global market. For social and technology factors, Apple is actually gaining a lot because of its groundbreaking technologies and its trend-leading designs.

As a result, Apple needs to continuously make best use of the advantages in social and technology factors, and bypass the disadvantages in political and economic area. In such way, Apple will achieve a comprehensive and successful expansion in global market.

Reference:

Image: <http://24gadget.ru/uploads/posts/2010-11/1290741107_apple-expansion.jpg>

Jeynes, Roger. “The Complete (External and Internal) Analysis of Apple.Inc and Its SWOT Analysis.” Academia.edu. Academia, 2013. Web. 09 Oct. 2014. <http://www.academia.edu/7103572/The_Complete_External_and_Internal_Analysis_of_Apple.Inc_and_its_SWOT_Analysis>.

Wang, Shanshan, and Neil Gough. “Release of IPhone 6 Delayed in China.” The New York Times. The New York Times, 10 Sept. 2014. Web. 12 Oct. 2014. <http://www.nytimes.com/2014/09/11/business/international/release-of-iphone-6-delayed-in-china.html?_r=0>

First Nations, as mentioned in Class 10 reading Tsilhqot’in Set to Declare Site of New Prosperity Mine a Tribal Park, has audaciously stepped under the spotlight to fight against business projects related to their reserve lands.

In the article, it’s obvious to see that there are many major discrepancies between First Nations and people whom eager to propose New Prosperity copper-gold project. Because of this, First Nations partner issues, as one of external factors impacting on an organization, have slowed down the project’s key activities, and defamed the project’s value propositions.

Coincidentally, “Oilsands pipelines and other natural resource projects aren’t the only ambitious initiatives being stymied in B.C. due to deepening uncertainty caused by unresolved aboriginal land claims,” stated in another news issue I came across recently. The government’s plan to privatize and sell three valuable pieces of lands in B.C. has been stalled and thwarted by First Nation claims. Such stalemate doesn’t benefit the government in the sake of economy growth nor profit aboriginal people. As a result, it’s crucial to work out a healthy partnership between First Nations and the federal government to achieve a win-win outcome. The government should insure environment sustainability for First Nations to continue with their traditions. However, at the same time, First Nations should allow the government to unlock the value of the property.

References:

Pynn, Larry. “Tsilhqot’in Set to Declare Site of New Prosperity Mine a Tribal Park.”Www.vancouversun.com. The Vancouver Sun, 11 Sept. 2014. Web. 05 Oct. 2014. <http://www.vancouversun.com/news/metro/Unilateral+park+declared+Tsilhqot+includes+Prosperity+mine/10192766/story.html>.

O’Neil, Peter. “First Nations’ Land Claims Stall Federal Government Sale Plans.”Www.vancouversun.com. The Vancouver Sun, 12 Aug. 2014. Web. 05 Oct. 2014. <http://www.vancouversun.com/business/First+Nations+land+claims+stall+federal+government+sale+plans/10110125/story.html>.

Image: <http://myenticingjourney.files.wordpress.com/2012/05/win-win.gif>

Image: <http://www.cpcml.ca/images2013/FirstNations/File/070629-LocationUnkCR.jpg>

No study of business success in the twentieth century would be replete without mentioning Coca-Cola. Recently, I came across an article that piqued my interest in digging behind Coca-Cola’s exuberant success. As mentioned by Professor Mahesh Nagarajan in class, a well-organized supply chain management and operation are pivotal to a company. Unsurprisingly, for Coca-Cola, its achievement is the product of an operating framework that is built on excellence.

CCE, Coca-Cola Enterprises realizes that the top priority for a sustainable growth is replacing dated systems with a modernized platform across markets to create a cohesive view of metrics and streamlined processes. This idea to me is downright brilliant. It’s important to keep the company data-orientated, which means making the measurement in the operation accurate and organized. More importantly, for a company like Coca-Cola who really focuses on global expansion, it’s crucial to integrate all the data together and build on a set of consistent standards and processes, so that it saves much time when putting the entire operation system in a new territory.

As I can see, Coca-Cola really focuses on the efficiency on its operation system. Obviously, the modern operation system is supporting the company to strive for the triumph in the global market.

References:

“Coca-Cola Supply Chain Management Success Story.”  Computer Sciences Corporation.  CSC Americas Headquarters, n.d.  Web.  04 Oct. 2014.  <http://www.csc.com/application_services/success_stories/78846-coca_cola_supply_chain_management_success_story>

“Who Dares Wins – Success through Intelligent Risk A Coca-Cola Great Britain Case Study.”  A Story of Global Success. Business Case Studies, n.d.  Web. 04 Oct. 2014. <http://businesscasestudies.co.uk/coca-cola-great-britain/who-dares-wins-success-through-intelligent-risk/a-story-of-global-success.html#axzz3FCCJIgWq>.

Image: <http://dcgazette.com/wp-content/uploads/2014/09/coca-cola-cover.jpg>

In class 2 Marketing Meeting Accounting, the idea that all U.S manufactures are paying a huge amount of money for health-care is introduced by Detroit seeks health-care refit. Recently, a blog post on how small businesses get through the dilemma of paying health plans has caught my eye. In the blog Study Finds Small-Business Health Plans Are Cheaper on SHOP, the blogger shares the information that it saves more for small business to purchase insurance premiums on SHOP exchanges, by comparing that with premiums for insurance purchased off the exchanges.

I find this blog useful since it puts its focus directly at health care issue, “a competitiveness of the United States issue” declared by Mr. Cowger, president of GM’s North American operations. It offers an insightful analysis for small businesses to decide whether to purchase its health-care insurance on SHOP, or on the off-exchange plans. Pointing out both advantages and disadvantages of SHOP plans, the blog serves as a guideline for small businesses to purchase health-care plans, in order to avoid suffering from stress of paying for those insurances as some main manufactories in U.S. are facing right now. As a result, this unbiased blog really draws my attention on health-care issues and as a person who wants to pursue entrepreneurship in the future, this blog is a great resource to put in bookmark bar for future reference.

Reference of the image: <http://insurancepedia.net/wp-content/uploads/2010/06/index.jpg>

Last year, the largest bank in the United States, JPMorgan Chase & Co. found itself in dilemma because one of its traders know as the London Whale lost more than $6.2 billion for the bank. Compared to a record profit of $21.3 billion earned by the bank, the money lost seemed to have little impact. However, the London Whale indeed gained JPMorgan much more pain simply because executives made a series of inaccurate statements including mocking up portfolios to cover reported losses, misleading regulators, and disregarding the shareholders’ profits.

Such actions were considered irresponsibility in business ethic. For a bank like JPMorgan Chase & Co., such poorly executed actions not only caused the bank to pay a huge amount of fines, but also induced the bank to face the criminal probes and the lost of reputation. It’s true that every bank wants to maximize its profits. However, an executive working in the Chief Investment Office has the responsibility to hold down the bank’s risk level and to be authentic to the public. Freeman’s Stakeholder Theory has pointed out that a good manager is someone who makes profits for every stakeholder in the society, referencing the government, the regulators and consumers in this situation. Ignoring and violating laws for the sake of maximizing profits should never happen again in such nationally trusted bank, JPMorgan Chase & Co.

References:

Protess, Ben, and Jessica Silver-Greenburg. “JPMorgan Expected to Admit Fault in ‘London Whale’ Trading Loss.” DealBook JPMorgan Expected to Admit Fault in London Whale Trading Loss Comments. The New York Times, 15 Oct. 2013. Web. 10 Sept. 2014. <http://dealbook.nytimes.com/2013/10/15/jpmorgan-said-to-reach-deal-with-trading-regulator/>.

Image: <http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/7/14/1342255833984/David-Simonds-London-Whal-009.jpg>