I learned a lot from Comm299 this year, and many things were not only business based but also about what I learned about myself.

During the first section of the year, the weekly speeches allowed me to find out exactly what kind of public speaker I am. Before the classes, I thought I would get stage fright and be unable to present. However, within a few speeches, I found out that although I do get nervous sometimes and forget little bits of my speech, I end up doing quite well and keep good eye contact with the audience. I also found out that I enjoyed going first to get it over with, or the wait will cause me to get more nervous.

In the second part of the year, the activity that allowed me to learn most about myself was the StrengthFinder quiz. My five strengths, deliberative, discipline, harmony, analytical, and consistency described my abilities in a way I rarely thought about before. I didn’t realize that the certain ways that I act or think were actually strengths that I can use and build upon.

Career Fundamentals is a course that really helped me understand myself better, through activities and quizzes, and all that it taught me about the business world.

I learned many lessons from many people I have encountered throughout my life. However, the greatest lesson that I learned was taught by my mom. A lesson of independence.

My mom is a single parent, and she has been taking care of me without any help from relatives or friends because only the two of us came to Canada. She never depended on anybody, and didn’t even accept the money she could have gotten from my dad after the divorce. She worked very hard, beginning with part-time jobs, then going back to school, and finally finding a job that offered the two of us a better life. It was a struggle, but she made it on her own while taking care of me.

I was very dependent on her for everything when I was still in elementary school. I relied on my mom for simple things like how to get around the mall, taking the bus, or even talking to the workers at PetCetera to get the pets I wanted. Eventually, when I was roughly in grade six, my mom decided it was time for me to be more independent. She didn’t want to baby me anymore, and knew I needed to grow up.

So, ever since grade six, my mom taught me which bus routes I needed to take when I needed to go anywhere. She also made me learn to get around in malls alone, and speak for myself when I had questions. Not only that, but these day to day lessons taught me to work hard for things I want, and reach my goals without relying on other people so I could grow. I became independent, from the great lessons taught by my mom.

A decentralized organization offers workers  greater freedom, empowerment, and the ability to be innovative. This creates a much more satisfying environment to work in. However, Walmart is, in a way, the complete opposite. It is a centralized organization that enforces strict rules that doesn’t make any allowances.

The employees at Walmart are all required to follow the company’s policies, called the Ten Rules of Sam Walton. Although the last of the ten rules is “swim upstream, be different, and challenge the status quo”, Walmart managers do not allow anybody to stray from their expectations. Managers keep watch of each worker, and penalize them if there is even the slightest mistake. The managers are like this because their higher-ups keep an eye on them as well, and there are strict evaluation of each member of Walmart.

Every employee must greet and help any customer within 10 steps from them. Every employee must smile and treat the customer like family. Every employee must do everything to make the customer happy. The customer is everything, and is always right. There is absolutely no satisfaction in the workplace. In the end, every employee becomes an identical robot under this extremely centralized organization.

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Is Wal-Mart Too Powerful?

The difference between two stores can be drastic

The Ten Rules of Sam Walton

Usually, products that you buy in store come from a long supply chain. Once it is produced by the manufacturer, it goes through the distributor into warehouses, then to the retailers, and finally to the hands of the consumers. However, that means the product will go through double marginalization, which will cost more to customers who only want a fair price.

Dell, on the other hand, not only supply to retailers such as Futureshop, but they are also a direct business on their own. This means having a possibility to customize products for consumers and also having the ability to charge lower prices while earning more profit.

Dell uses mass customization in its factory outlet. The consumer chooses the model of the product, then gets to customize the storage space, docking, audio system, battery type, and also the skin. The buyer can also choose to include accessories along with their original purchase, such as getting the mouse, office software, product bags, headphones, or others. Dell also provides free shipping for shoppers who order from their factory outlet.

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Dell Factory Outlet

On November 16th, the banks in Ireland faced great troubles from the collapse of the “real-estate bubble”. This caused many investors to withdraw tens of billions of euros. The fear caused not only the loss of investors and liquidity funds, but also a government that was unable to provide a bailout. To save other countries from being hit by this terror of failing banks, European Union will be funding Ireland with €80- to €90-billion from their emergency rescue fund.

How did the banks in Ireland come to this in the first place?

They were undercapitalized. Since the collapse of real-estate caused such an enormous effect on the banks, it can be assumed that the banks were highly levered on lending out mortgages. They took a risk, and now they are in trouble. This is why Ireland needed an injection of liquidity, and a large one, from the European Union. The effects of this is still to be determined, but for now, these funds are merely a hope to stop the increasing fears of investors in Ireland.

Video: Infectious Sovereign Debt Risk

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Will Ireland life jacket keep others in euro zone from sinking?

To me, Facebook was simply a very popular website that people go on to socialize with others. It did not occur to me that Facebook is an entrepreneurial venture, and one of the most successful ones out there. It meets all the definition points of entrepreneurship: great amount of wealth creation, fast speed of such wealth creation, high risk, and high innovation.

Facebook creates millions in revenue from the advertisements on the website. Although this doesn’t seem like it can earn much, consider this: Facebook is the second most visited website in the world. Because of this, many businesses want their ads on this social website.

Facebook started in 2003, and until now, has only been running for around seven years. Yet, they became one of the fastest revenue-earning businesses, leaving MySpace in the dust.

It is impossible to say that Facebook did not face any risk. Of course they did. Tremendous risk, especially regarding privacy issues. However, they still took that risk, made necessary changes, and moved forward.

Facebook itself is an amazing innovation, and they are continuing to create more. On November 15th, 2010, it announced a new feature being released soon: the next generation of Messages. It includes chat via SMS, chat, email or Messages, and even provides an @facebook.com e-mail address that functions differently than normal e-mail.

Facebook, always making new innovations, taking risks, and bringing in revenue at shocking rates in short periods of time, is a very successful entrepreneur.

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How Exactly is Facebook Making Money? – Technology Blog

See the Messages that Matter – Facebook

The familiar “cut-paper” style Fido logo was changed on November 4, 2008. What was the purpose of this new identity, and was it a wise move?

Indeed, it was. Although the logo and plan rates were changed when Fido was bought by Rogers Wireless, the brand name and dog imagery still portrayed loyalty and trust. Looking at the big picture, Fido did not become a stranger to its customers. Instead, it retained its familiar attributes and added newer and better features!

This is one of few companies who successfully changed their identities effectively. Their strategy of being the first company to bill airtime by the second, and becoming a discount wireless brand while maintaining its brand image not only kept its current loyal customers, but also attracted new users. Their new low-rate plans, without system access fee, were especially suitable for the low economic times in Canada. Fido was able to recreate their image for the better.

To make their service stand out, Fido had a makeover. Unlike any makeover that uselessly changes the whole company’s image, Fido grasped what their customers loved, and acted upon what their customers wanted, creating the all new but still loyal Fido.

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http://www.cellphones.ca/news/post004431/

http://en.wikipedia.org/wiki/Fido_Solutions

http://www.underconsideration.com/brandnew/archives/here_fido_good_fido.php

If there is a SWOT analysis for Switzerland, and if it is compared with a SWOT for Canada, R&D would be a strength for the Swiss while it would fit into the Weakness section for Canada.

Brands from Switzerland are known for their quality and innovation hub. Victorinox is the company that produces Swiss army knives and other products such as watches. However, they do not simply produce old-fashioned knives anymore. They have been using the latest technology for their products, equipping laser pointers and USB drives with the blades. The parts of the blades are now manufactured using finger-sized machines, so that employees could spend time developing new tools.

How did Switzerland become such a known innovator in the world? The government supports production of new products or improving existing technology. The Innovation Promotion Agency funds R&D related projects, unlike Canada’s mediocre and strict funding.

The once insignificant Switzerland is now leading in the race for R&D. They promote and accept new ideas for future innovations, which moves them forward at lightning speed. Canada, however, is currently lagging behind. Although R&D is a weakness for our country, it can also be made into an opportunity. Canada needs to advance and catch up to Switzerland in the race for new technology.

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http://www.theglobeandmail.com/report-on-business/economy/growth/switzerland-blazes-innovation-trail/article1750626/

There are unreasonable amounts of unethical advertisements, whether on TV, on the radio, or elsewhere. Some may have obvious attacks on other companies, and others may seem appropriate but include hidden meanings.

In this one car insurance commercial, it portrays a crazy woman driving a car, including banging her head on the horn, screaming, and other nonsense. The car insurance dealer would then say “If you don’t drive like her, you shouldn’t pay the same insurance rate as her.” This emphasis on the word “her” makes me feel like he is attacking women, as if all females drive like maniacs.

In another commercial by the same company, the driver is a crazy woman as well, therefore proving that the company is being sexist towards women. This type of advertising is unethical and should be revised.

“Funny Car Accident with Crazy Woman”

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*Even though this video is not the commercial I wrote about in the article, it’s still amazing how ridiculous some commercial are to promote their car insurance.

https://www.youtube.com/watch?v=ciHT8tS0p80

This is what I hate the most when buying things: “Sold Separately”.

I went to Futureshop today to get a netbook. Yes, the original price was pretty nice, 1 penny less than $230, but guess what, it’s just a useless shell. So, after listening to what the salesperson had to say, I had to pay $99 for the system then $159 for Microsoft. So… $258 for the netbook to work. I’m paying more for the things not included than for the thing itself. That’s pretty sad.

I looked at printers too. What a delight to see printers under $80! But of course, toner was not included. It was estimated that the toner itself would be another $300 or so. What was I there to buy? A working printer. Not an empty box.

I guess it’s a good way to earn money; make the customer want the cheap item, then force them to buy the insanely expensive things not included but necessary for usage. Great strategy. Unethical in my eyes. The real price always ends up being over double what you expect. Go buy something, and prepare to be robbed.