According to the article “China wins stake in British nuclear power and high-speed rail”, Britain signed a trade worth £14billion with Beijing when Chinese premier Li Keqiang visited UK. The amount of the money that’s involved surprised me. I couldn’t help to feel happy because I’m from China and to witness the economic growth that China has feels great. But at the same time, like the article mentioned, Climate Change is critical and the governments should definitely consider it before consider profit. But sometimes it’s highly debatable about how ethnics affect business. The Anglican Church in UK is against the high-speed rail because it would desecrate graveyard. This reminds me of what I learned in history courses. More than 100 years ago, Britain built the first railroad in China, but the Qing dynasty’s officials were all highly against it because it will “disturb the ancestors.” The history seems to have repeated itself, so in my opinion, if a project is beneficial for the economy and people who live around it, then don’t hesitate to put it into good use.
Author Archives: YuxiJin
Re: For Online Retailers Like Alibaba, Single’s Day in China Is a Bonanza
Double 11, All Hail the Online Shopping!Blog by Shanshan Wang and Paul Mozur from New York Times, “For Online Retailers Like Alibaba, Single’s Day in China Is a Bonanza” indicates how crazy the power of online shopping can be. 57.1 billion Chinese Renminbi which equals more than 10 billion Canadian dollars in just one day. 11.11 is known as the single’s day in China, and the online shopping day was originated for singles to shop away the loneliness like the blog indicates, but clearly it has went way beyond this and becomes the black Friday in China.
Having an online shopping day is not the only great idea that the Alibaba group has come across, it is also genius to have a convenient cell phone app for online shopping, and there is more about it. I’ve used the Alipay app, and you can not only online shop or pay checks with it, but also call taxies and pay for it at the same time. Paying for utilities and buying tickets are also included. It’s like the all in one app for everything that’s about money. The potential of Alibaba is immeasurable.
Commenting on Tanner Friesen’s Blog
Commenting on Tanner’s blog “RE: Nike gets Rejected”. In Tanner’s blog, I was shocked at first that Nike’s sales decrease in China, because like Tanner says, China is one of Nike’s top markets, and I’m from China myself, so I know there are a lot of people wearing Nikes in china. But considering what I saw in recent years, I think I’ve found out the reason behind this. But my opinion is different from what Tanner suggests.
Products like Nike and Adidas in China are indeed considered for rich kids half a decade ago, but in recent years, more people actually think these products are out of fashion, and the rich people are more willing to buy luxury products like Prada and Gucci, and the average people tend to buy other more stylish brands. Products from Nike and Adidas starts to be just for the athlete enthusiasts and students, even the students nowadays start to wear other brands because they think Nike is out of fashion. But Nike still has chance, because students in China must attend physical education, so just like Tanner suggests, Partnering with government to develop athletic programs will help a lot, and Nike should definitely focus on the sports enthusiasts as well.
Commenting on Francesco Proco’s blog
Commenting on Francesco’s blog, “MICROSOFT’S WINDOWS 10, WHAT HAPPENED TO WINDOWS 9?” Francesco brings up an interesting topic, naming of technical products. Windows 10 is not the only product that doesn’t follow the normal order of numbers. For example, another series from Microsoft, Xbox. The first one is just called Xbox, then the next one is called Xbox 360, and the latest one is called Xbox 1. I didn’t think deep into it before, thinking that Microsoft just wanted to be creative and bold. And it’s really funny to do so, like this joke suggests, but after reading Francesco’s blog, I’ve come to a deeper understanding of the reason why is Microsoft doing this. And I totally agree with Francesco that it’s a creative and good idea to do so.
I couldn’t help to think about some other examples of interesting naming of products. The apple’s Ss, The Gs in a famous video game “Monster Hunter.” In fact, many video games start to use sub-titles instead of numbers such as “Call of Duty: Advanced Warfare.” It gives the player a good idea of what the theme of the game is and it sounds really cool at the same time. From all these creative and interesting names of products, I can tell that naming a series of product is not as easy as people usually think it is.
Save? Invest!
In the article “How young working couples can build wealth without compromising on lifestyles” the author introduces the story of some young couples, Ananth Domatoti, 31 years old, and his wife Anita Patnaik, 30 years old. Vishal Nalawade, 30, and his wife Shraddha, 29. They both have good jobs, and they spend carefully and save 60% of their net income every month. But they are still experiencing financial problems. The article’s opinion of what causes this is that spend too much money on saving instead of investment. I totally agree with the article’s perspective, because we’ve learned in class that money depreciate when time passes by and inflation decreases the money’s value as well when saving in the bank. The article gives couples like them a solution that sounds simple but effective: “Don’t save, invest.” When reading, I raised up with a question, how and where to invest? Then I found out the Nalawades have the same question as I am, and the article gives an example, equity mutual funds. The couple should start investing in small amount. Considering I’m also young myself, I think I should start investing, maybe equity mutual funds it is, like the article suggested. But no matter how I’ll invest in the future, I definitely learned a new thing today.
Thoughts about business ethnics related to “CVS Vows to quit Selling Tobacco Products” article
CVS is the largest drugstore chain in terms of overall sales and pharmacy sales in United States, and it is planning to stop selling cigarettes and other tobacco products by October according the article: CVS Vows to Quit Selling Tobacco Products. (http://www.nytimes.com/2014/02/06/business/cvs-plans-to-end-sales-of-tobacco-products-by-october.htmlI) “We have about 26,000 pharmacists and nurse practitioners helping patients manage chronic problems like high cholesterol, high blood pressure and heart disease, all of which are linked to smoking,” said Larry J. Merlo, chief executive of CVS. “We came to the decision that cigarettes and providing health care just don’t go together in the same setting.” what CVS did matches the concept of business ethnics in Freeman’s Stakeholder Theory, which indicates that successful businesses are the ones that make the stakeholders’ interest go together. And I agree with it totally, therefore, I totally support what CVS does, which put pressure on cigarettes manufacturers and retailers according to the article. This is a great example of what a successful business should be, doing beneficial things for the society within its authorities. This is the business ethnics that all business should learn from.