Nowadays people in the business industry aren't thinking straight. As a teenager, I have come up with a plan that could almost be flawless and high profitable making. Instead of selling essential equipments for schools, facilities, factories, job-sites, etc, why not just rent it to them instead of selling the equipment? If they agree to sign the contract then for sure, you would make a profit in the long run. The start-up cost to run this sort of business depends on you, whether you want to start a low budget as renting out 5-10 equipments then that's fine. Because once you find out that this strategy will work, eventually you will decide to change your budget so increase profit gains. Here's an excellent example of why this strategy works. Almost all casino's have machines that shuffle decks automatically but you just have to deal them, these shuffle deck machines are rented out to casino's and get charged every month with a contract of one year. Just imagine how many tables are average in a casino using the shuffle deck machine. So perhaps we could find out what kind of target company would require equipment needs and rent it to them.
In today's society, technology services have become very poor. Whether it's cell phone or computer services, it's just not enough to meet the customer needs. Suprisingly, a monopoly is occuring in this one company. No one has even decided to open up an all around technology service repair store. There is only one store in BC that does this and I must say, their services are absolutely terrible. Sure their services are terrible but they get some of the job done and still meet customer needs because they have many employees working there. However, I would like to twist this type of strategy, if you hire too much employees, you're expenses will make it break-even but, if you were to hire people with experience in repairing devices then this would cut down you're expenses. It's important that every business always has a substantial customer service because you want to make customers satisfied.
Friday, February 4, 2011
Thursday, January 13, 2011
The Business Case For Sustainability Analysis
Bob Willard is a very wise person, not only he's a business manager but he also thinks outside the box. In a nut shell I think sustainability can be defined as three parts. The first part involves sustainability in the industry, the second part deals with sustainability in the environment, and the third part creates social sustainability. The business has a choice on all three so sustainability could mean, the achievement of top-line growth to bottom-line results, system and materials won't deplete or harm natural cycles, and an obligation to keep in touch with society (meeting demands, consumer feedback, etc).
Top-line growth indicate increases in sales for any company. Without this component, there is no company to sustain. Bottom-line results (a companies overall profit, growing and reducing costs) refer to the fact that companies also are able to turn a profit, and probably important to maintain sustainability. I doubt it matters what the company is doing for the environment, or donating money to charity, because if there is no company, there would be nothing to donate. A good example would be BestBuy, BestBuy must achieve a bottom-line results to sustain long-term profitability and continue leading the 1% for the planet effort.
System and materials that are used by business should minimized environmental damage always! In my opinion this can be done by increasing support on renewable energy and another reason could be considering carefully the life-cycle of a product (how does this impact on raw materials, how would consumers dispose the product?) I'm sure most businesses offer recycling opportunities for the product but perhaps might charge consumers to do that which again leads back to "the business has a obligation."
Social contract refers to the responsibility the business has to all stakeholders (investors, shares). Businesses have a responsibility to address the consequences of their decisions on society at all times. This brings back to "The Corporation" documentary, a corporation is a "legal person" in other words, sustainability could be a human trait (food, shelter, necessities of life, etc). Of course, a business shouldn't be focusing on their revenues too much or else it will leave consumers unhappy besides, business is to do what is best for all of the people involved, including employees. Business shouldn't be for the sole purpose of making profit because there will be no existence of passion. However, if a business were to be successful for practicing this behavior in any case, the business will see long-term profits and sustainability. All in all, the three parts could be known as, people, planet, and profit
Top-line growth indicate increases in sales for any company. Without this component, there is no company to sustain. Bottom-line results (a companies overall profit, growing and reducing costs) refer to the fact that companies also are able to turn a profit, and probably important to maintain sustainability. I doubt it matters what the company is doing for the environment, or donating money to charity, because if there is no company, there would be nothing to donate. A good example would be BestBuy, BestBuy must achieve a bottom-line results to sustain long-term profitability and continue leading the 1% for the planet effort.
System and materials that are used by business should minimized environmental damage always! In my opinion this can be done by increasing support on renewable energy and another reason could be considering carefully the life-cycle of a product (how does this impact on raw materials, how would consumers dispose the product?) I'm sure most businesses offer recycling opportunities for the product but perhaps might charge consumers to do that which again leads back to "the business has a obligation."
Social contract refers to the responsibility the business has to all stakeholders (investors, shares). Businesses have a responsibility to address the consequences of their decisions on society at all times. This brings back to "The Corporation" documentary, a corporation is a "legal person" in other words, sustainability could be a human trait (food, shelter, necessities of life, etc). Of course, a business shouldn't be focusing on their revenues too much or else it will leave consumers unhappy besides, business is to do what is best for all of the people involved, including employees. Business shouldn't be for the sole purpose of making profit because there will be no existence of passion. However, if a business were to be successful for practicing this behavior in any case, the business will see long-term profits and sustainability. All in all, the three parts could be known as, people, planet, and profit
The Corporation Summary
"The Corporation" documentary shows the development of existing business corporations. One theme is its value as a "personality".
The film is in illustrations, examining and criticizing corporate business practices. It establishes parallels between the way corporations are showing compel to behave such as, insensitive disregard for the feelings of other people, the lack of ability to maintain human relationships, reckless disregard for the safety of others, deceitfulness (continual lying to deceive for profit), the incapacity to experience guilt, and the failure to act to social standards and respect for the law. In the documentary they discuss about how a corporation can become a "legal person." It can sue, go to court, buy, sell, etc. So, corporations like McDonald, Microsoft, Nike, Future Shop, Home Depot, are legal persons.
The film is in illustrations, examining and criticizing corporate business practices. It establishes parallels between the way corporations are showing compel to behave such as, insensitive disregard for the feelings of other people, the lack of ability to maintain human relationships, reckless disregard for the safety of others, deceitfulness (continual lying to deceive for profit), the incapacity to experience guilt, and the failure to act to social standards and respect for the law. In the documentary they discuss about how a corporation can become a "legal person." It can sue, go to court, buy, sell, etc. So, corporations like McDonald, Microsoft, Nike, Future Shop, Home Depot, are legal persons.
Lets talk about the "bad apple" analogy. If one bad apple is placed in the basket then the rest of the apples in the basket also become "bad apples." Oh its just a "few bad apples", meaning a corporation probably messed up by presenting terrible quality towards clients and it probably spread to other corporations as well because they wanted to save money. Too bad that even today in society, corporations and other companies still provide misleading information and definitely poor services.
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