As we discussed in class many moons ago, about the future. New technology has designed a robot to build a house in the span of three days. The company is based in Australia by the name of Fastbrick Robotics. The robot name is Hadrian X after the Roman Emperor Hadrian famous for the wall of fame. This robot is coming to disrupt the home building industry by removing many people from jobs. Hadrian X can lay 1,000 bricks per hour. The robot must have directions from 3-D layout structure to calculate the location and size of each brick.
As we discussed in class networking is an essential part of advancing your career. People often say "It's not what you know, it's who you know“. These days, it’s not enough to keep your head down and produce A-plus work. You need to connect with others, be vocal about your interests and career goals, and build relationships with people you might not otherwise have met.
Here's some advice when trying to network:
1. Be intentional. Networking should always be done with an intention, and not just to collect business cards and be seen. Approach networking as you approach your work: Set a goal for yourself and find a networking opportunity that meets that goal.
2. Have an icebreaker. It can be tough to walk up to a stranger and start conversation, no matter how confident you are. But having a line ready to go in order to generate conversation is crucial. I have found much success with a simple, “What brings you here to this event?” It works every time—it goes straight to the point and builds on your first common interest: that fact that you’re both there for a reason!
3. Be open about your career goals. Being confident and speaking up about you future goals could intrest someone around you that could potentially become a business partner in the long run.
4. Follow up. If you have a great conversation with someone at a networking event and exchange contact information, send him or her a note and remark on your interaction. Mention something specific you enjoyed about speaking with the person. If you offered to connect him or her with someone else, follow through. Networking isn’t over when you walk out of the event!
Millennials are known for many things such as being civic-oriented, conscious, and the largest, most diverse generation in history. But analysts say this generation is missing one thing, their willingness to take risks.
To some, this is seen as a problem. Studies show that our youth puts us in the best position to take risks but we look for security instead. Economically, millennials struggle and cannot afford to risk it all on uncertainty. However, risk avoidance and cautiousness does not help stimulate the economy, innovate technology, or produce many entrepreneurs.
According to a survey by Babson College, 41% of 25 to 34 year olds state that their biggest roadblock to starting a business is the "fear of failure." In today's business world, most would say to "embrace failure" rather than seeing it as a fear but not to millennials. Studies show we prefer to get it right the first time rather than stumbling and starting again.
Check out Barbara Corcoran's speech at Entrepreneur's Growth conference. Although it's fairly long, I encourage you to choose at random five minutes to watch and you'll want to watch more. Her words are both inspirational and motivational and she encourages people to put themselves into situations where they might fail and then learn how to bounce back.
I decided to go back on the topic previously discussed in class on business ethics. I plan to be a well-rounded entrepreneur and in order to be a successful business woman, this topic stuck out the most to me. Furthermore, knowing the importance of ethics is highly praised within the business industry weather it's your own company or you're in corporate America. If you're serious about fostering ethical behavior throughout your organization, you can turn these three principles into implementable means to communicate that effectively.
In this way, ethics won't simply be relegated to your HR department, but it will pervade management at all levels. Setting the right example, stress the importance of means, and framing ethics to highlight prevention, are the three principles that will lead you to success.
There are many ways for one to learn ethical norms, at home, at school, in church, or in other social settings. Although most people acquire their sense of right and wrong during childhood, moral development occurs throughout life and human beings pass through different stages of growth as they mature. Ethical norms are so ubiquitous that one might be tempted to regard them as simple commonsense. On the other hand, if morality were nothing more than commonsense, then why are there so many ethical disputes and issues in our society today?
When most people think of ethics, they think of rules for distinguishing between right and wrong, such as the Golden Rule ("Do unto others as you would have them do unto you"), a code of professional conduct like the Hippocratic Oath ("First of all, do no harm"), a religious creed like the Ten Commandments ("Thou Shalt not kill..."), or a wise aphorisms like the sayings of Confucius. This is the most common way of defining "ethics": norms for conduct that distinguish between acceptable and unacceptable behavior. Growing up these are the sayings I heard from everyone around me that made me get back in line when I was getting off track. They reminded you of your true will and to always be good to others no matter what.
Below is a video, which I found pretty interesting and well stated about the ethics in business.
In class last week, we had the pleasure of discussing the importance of International Business and Foreign Business strategies that are used. A key question that could be asked is
“What is International Business and why is it so important?”
International Business is all commercial transactions that take place between two or more countries and it is so important because international and domestic sometimes does not work hand and hand. I believe the best companies to use to measure the international diameters and markets are Fortune 500 companies. Fortune 500 companies are known because of their marketing strategies have lead them into a plethora of international trades and leadership roles.
The company of my choice is The Home Depot, Inc. This is a home improvement supplies retailing company that sells tools, construction products, and services.
According to The Home Depot, Inc. page they operates many big-box format stores across the United States (including all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, and Guam), all 10 provinces of Canada, and the country of Mexico. Segmentation variables such as demographics and geographic play an important factor with foreign markets. The Home Depot have already expanded in Mexico and Canada, but is currently planning on Europe and Asia for future international opportunities, according to the Atlanta Journal-Constitution. Expansion into Europe and Asia isn't imminent, but America's largest home improvement retailer could be forced to consider opportunities there as its growth potential in the U.S. shrinks. In addition to offering another avenue for growth, successful international expansion would set Home Depot.
Chairman and Chief Executive Bob Nardelli apart from his competitors. Nardelli said he has no plans to make international expansion his legacy at Home Depot, but it would accomplish the third part of his stated strategy of "enhancing the core, extending the business and expanding the market." As I was analyzing this case, I don’t believe that is a positive statement coming from the founder.
International expansion is a strong strength to have according to Porters Forces and especially when it comes to competitors.
Define Ethics:
Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
Define Morals:
Morals refer to an individual's own principles regarding right and wrong.
Stealing is wrong.
Lying to get a date is OK.
Define Values:
Values describes individual or personal standards of what is valuable or important.
A civilized society's first line of defense is not the law, police and courts but customs, traditions and moral values. Behavioral norms, mostly transmitted by example, word of mouth and religious teachings, represent a body of wisdom distilled over the ages through experience and trial and error.
"I see little to no admission of moral error from O'Reilly nor from Fox News," he writes. "O'Reilly blamed others, and his victimization. He used to mock liberals as the 'whiny left' when it came to blaming society for crimes by-say-black youths. O'Reilly said his 'departure' was not his fault but the cost of being a media personality."
Fox News faces growing legal troubles just a week after firing star anchor Bill O'Reilly. Eleven current and former employees filed a class-action lawsuit claiming they subjected minorities in the company to "abhorrent, intolerable, unlawful and hostile racial discrimination." This suit expands on a discrimination suit filed last month.
Wednesday April 24, 2017
Corporate Social Responsibility (CSR)
Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems.
The brand's marketing message "Red Bull gives you wings" can be seen amongst multiple marketing channels. This company has a powerful presence internationally. They took advantage of the ability to gain access to new customers, achieve lower cost and enhance the firm's competitiveness and gain access to resources and capabilities in foreign markets. The Red Bull flavoring is still produced in Bangkok and exported into manufacturing plants internationally. Red Bull's founder was the first to introduce energy drinks to the west by adjusting the taste. Red Bull also associated itself with many extreme sports teams and events to promote and reinforce their brands image. Red Bull has also turned to Media to help with launches and accessibility to the products. Red Bull has also use student markets on many college campuses across the world. At student events, you can find cars with Red Bull cans on top that promotes the name and representatives giving out free samples. Red Bulls "Wing Team" is the face of there company across the world. This team is all girls and mission driven. Each day they have set goals and milestones that must be achieved in various zones. Even though Red Bull is a local company they tend to think and act globally which has been shown through their many events that is hosted around the world in places like Africa, Germany, and New Zealand. Red Bull tends to use the same competitive strategy and many of the country markets. In recent years' energy drinks consumption has grown which is given Red Bulls Market Andy's and Rapid expansion.
