Why Confronting Racism in AI 'Creates a Better Future for All of Us' , by Barbara DeLollis,03 MAY 2023. This article discusses how race and racism impact customer behavior's and the purpose of the T.R.A.P labs research on race and technology. I learnt the myths or uninformed questions the founder of the lab (Broderick Turner) hears from business leaders of mainstream companies. The myths come in three categories: expense, denial and blame.
Expense; the claim that "diversity is expensive" and their is no need to change or fix a product/service for a race that doesn't benefit from the product, like the version of an automatic water faucet that doesn’t recognize the melanin in skin. Denial: denying they don't see colour. Blame: "Believing that the reason for differences in outcomes among races, is because there’s something that’s wrong with one of the racial groups". These myths are the "easiest explanation for racial inequality".
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How Used Products Can Unlock New Markets: Lessons from Apple's Refurbished iPhones, by Rachel Layne, 12 MAR 2024 The article discuses how risky the idea of reselling and recycling old products for a company like Apple, but how these products have become a major profitable market for Apple and an environmental change. This idea really stood out to me because I am one of Apples customers that isn't able to afford the latest iPhone but this idea lets consumers like me afford a $600 iPhone. This idea also enabled Apple to not only create a new market for people who can’t afford the latest iPhone model, but also lower their manufacturing costs and has a positive impact on the environment.
Do We Underestimate the Importance of Generosity in Leadership?, by James Heskett, 14 NOV 2023 This article discusses why entrepreneur's and leaders should have a good mental health and how happiness is linked to our mental health. What this article meant to me is that investors should want a leader with good character traits and for their leaders to be happy, for a happy and generous leader has boundaryless behaviors. Boundaryless behaviors are the characteristic's of entrepreneur's which make them great leaders. Characteristics like risk taking, imagination, curiosity, sharing of ideas and talents and give to others their resources for the good of others. Entrepreneur's put in the hardwork to achieve their goals and should have a good mental state while doing it because they may feel stressed of all their responsibilities.
Generosity is one of many factors that keep people together in an organization. A good leader is being someone who is worth following, based on how the person acts and can be measured by whether they positively impact other people. 6 Strategies for Building Socially Responsible—and Profitable—Companies, by Lane Lambert, 02 Aug 2022. This article discusses six ways companies can impact society and the environment and showcases why it is important for businesses to go green because of the effects that climate change has on life and the planet. Initially I learnt that businesses exist to make a profit and provide for people needs and wants, and I also know some businesses that are not for profit that supply products or services to improve or benefit a community but I didn't know they could impact the environment. Ways companies can impact the environment as discussed in the article: 1. Create a new market, 2. Transform the business, 3. Pursue pure-play alignment, 4. Offer a substitute product, 5. Focus on operational efficiencies, and Recognize an added value. The strategy that most stood out to me was to transform the business because it could mean to turn to a cleaner source of energy like switching from coal to wind power because it replaces fossil fuels and can lead to overall reduction in carbon emissions.
Making the Decision to Franchise (or not) by Julia Hanna, July 28 2008This article discusses how deciding to franchise is a very observable and real decision organizations can make but organizations have to think about the complexity of serving markets with different demographic characteristics, like an organization operating in the United States and in China. I can connect my life experiences to this article because I've bought products from different franchises like Dominos and their restaurant resides both in Canada and America and the article states that franchising creates a strong motivation for managers to maximize their performance, and are rewarded with profit from revenues which I believe is true because in the article it sates "It's also an extreme solution to the challenge of operating across multiple markets and having a franchise demands a very creative response in organizational structure"". And the article also states how business's that don't use franchising still spread out their operations more; or they may provide more variable pay to employees when operating across diverse market types
Do Boomerang CEOs Get a Bad Rap? by James Heskett, Jan 02 2024 This article discusses how bringing back the former CEO as a form of taking the easy way out instead of looking for a new and successful CEO but this decision can either be good for the business or bad. The thing that mostly stood out to me as I was reading was the fact that the return of the former CEO is likely to take the business back to how it was when he or she was in charge, which could be bad for the business because that might be why the former CEO was fired. This surprised me because initially I thought bringing back the former CEO would be good for the business because they would be bringing back someone who understands the business. The evidence behind this fact is stated in the article which states "ONE PROBLEM IS THAT BOOMERANG CEOS MOST OFTEN AREN’T ASKED TO COME BACK TO ORGANIZATIONS WITH ROBUST PERFORMANCE RECORDS TO BEGIN WITH" which I think means that there isn't high expectations for the CEO."Identify Great Customers from Their First Purchase", by Kristen Senz, Dec 9 2019 This article discusses how Ascarza created an algorithm model which acts as a sort of black box that analyzes 40 variables of a customer to predict whether customers will become repeat buyers. Something that stood out to me the most while reading was the idea that people who bought more products from the first business are more likely to be repeat buyers. She proved this idea by collecting data supplied by an international retailer which sells its brand of beauty products in stores and on its website.
Ascarza and co-partner found that customers who bought more products at the first business, mainly those in stores, were likely to be repeat buyers in the future. Although this idea seems obvious, the research provides the usefulness of knowing first impressions of customers because companies could learn more about their customers and know the customers that will respond to marketing emails. In fact, the beauty retailer’s email marketing campaign would be 40% more effective if it went for customers based on their first impressions. Digital Citizenship means to have an online presence and is the responsible and effective use of technology. Having an online presence can be beneficial in many ways. For businesses, it allows them to reach out to larger audiences and increase sales. For personal use, it allows people to connect to others and share opinions and thoughts online. So it is important to have online presence because it allows us to connect to others easily. But we have to be careful of what we say or post online because someone will see it and it could have negative impacts because what you post could be offensive. For example, posting a nasty comment or post online will stay online for ever, even if you delete it, someone will be able to find it and could have negative consequences, like not getting the job you wanted because you posted something negative online. So we have to THINK before we post something online.
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May 2024
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