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>.