Where I currently work there are hammers all over the office. They are all ball pein hammers. Not that is significant. Just a detail. And the devil is in the details... Anyway, there are these hammers all over the office. In the conference room, my desk, and on the front couch. All over. There is even one that looks like a mini Thor hammer (which is not a ball pein hammer), but with an 1800's twist on it. So it really only looks like Thor's hammer in that it has a really square head.
I work for a technology software company. I don't work at welding shop. What's with the hammers?
Its an analogy my boss uses.
You see, people want to have nail guns. It's faster, more powerful, sleek, and efficient. However, most of the time people don't need a nail gun. People don't need one to build a bird house. People don't have the skill for a nail gun. It can be a little more technical. It really means go to work and roll up your sleeves. A lot of problems seem to work themselves out if you just go to work.
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Data
You log on Facebook and what is one of the first notifications you get? (or at least you get if you opted into them) A look back into your activity on that day for the entirety of your life on FB. What did you do on April 10, 2011? 2010? Small thing, right? Kinda cool to look back and see that clever comment you made on your cousins post or when you became friends with that person that you have now since muted... It's neat to look into the past and remember when... fill in the blank.
It's also extremely valuable to FB and they want you to post more. They want to build a history of you.
The more you engage with social media the more apt they are to recognize your likes and dislikes, who you will vote for in the upcoming election, what you are likely to buy, etc. and then they can sell this information. You can see how valuable this social mapping is. You don't even realize you are participating in a business model or that you are providing the keys to your belief system. With the advanced algorithms and data science behind the mountains of servers they leverage, they probably know you better than you know yourself. FB isn't the only one. Amazon, Google, Twitter, Walmart, the list goes on and on.
One large purchaser of your data is the government, but that is for another time.
I'm not writing anything new here. Big data has been around for awhile. However, there is one marketplace that seems so obvious that I don't know how I missed it earlier. Finance.
The world of finance has been much slower in adopting new technology and big data, but they are coming up to speed very quickly. Privacy laws being the greatest hinderance to the growth of this market, but it just a matter of time and ingenuity to get this mainstream.
There are slew of early stage companies that are posing as analytical tools for you to know where your money is going, how you are spending, how your assets are performing, and how you can budget better. The fancy pie charts and graphs are undoubtedly useful to the consumer, but the true power is understanding the consumers spending habits and how to sell them more products - say a loan perhaps. This becomes even more valuable when it hits a critical mass point, where you have enough data to look at group behavior and trends. The more people contribute, the better the insights.
I am no expert in this field, but I think it is important to know what is actually happening to your online data. Your digital footprint is being tracked. We leave bread crumbs all over the internet for people to pick up and consume. I believe its important to know that nothing you do is truly a secret. The end goal for these companies is essentially the same, to anticipate what you will want to buy next. From a TV to a mortgage. I think its powerful to know that.
The future from here is anyone's guess. There has never been a more technologically advanced time in the history of mankind and it is still rapidly changing. The fear of the unknown can be scary as the ability to harness this data is extremely powerful. The doomsday scenario is that all of your data is complied into one online profile and used against you. Your medical history, political views, religious beliefs, spending habits, everything available on you, available to be purchased.
It's also extremely valuable to FB and they want you to post more. They want to build a history of you.
The more you engage with social media the more apt they are to recognize your likes and dislikes, who you will vote for in the upcoming election, what you are likely to buy, etc. and then they can sell this information. You can see how valuable this social mapping is. You don't even realize you are participating in a business model or that you are providing the keys to your belief system. With the advanced algorithms and data science behind the mountains of servers they leverage, they probably know you better than you know yourself. FB isn't the only one. Amazon, Google, Twitter, Walmart, the list goes on and on.
One large purchaser of your data is the government, but that is for another time.
I'm not writing anything new here. Big data has been around for awhile. However, there is one marketplace that seems so obvious that I don't know how I missed it earlier. Finance.
There are slew of early stage companies that are posing as analytical tools for you to know where your money is going, how you are spending, how your assets are performing, and how you can budget better. The fancy pie charts and graphs are undoubtedly useful to the consumer, but the true power is understanding the consumers spending habits and how to sell them more products - say a loan perhaps. This becomes even more valuable when it hits a critical mass point, where you have enough data to look at group behavior and trends. The more people contribute, the better the insights.
I am no expert in this field, but I think it is important to know what is actually happening to your online data. Your digital footprint is being tracked. We leave bread crumbs all over the internet for people to pick up and consume. I believe its important to know that nothing you do is truly a secret. The end goal for these companies is essentially the same, to anticipate what you will want to buy next. From a TV to a mortgage. I think its powerful to know that.
The future from here is anyone's guess. There has never been a more technologically advanced time in the history of mankind and it is still rapidly changing. The fear of the unknown can be scary as the ability to harness this data is extremely powerful. The doomsday scenario is that all of your data is complied into one online profile and used against you. Your medical history, political views, religious beliefs, spending habits, everything available on you, available to be purchased.
what i learned in marketing
airlines use a computer algorithm to raise prices every single day. they call it dynamic pricing and companies use it to stretch out every penny from consumers. there are people who don't like that, but have done something about it.
the founders and creators of decide.com sold their first company to BING, which helps the search engine determine what is the best price for airline tickets and if those tickets are expected to rise. decide.com has the same idea, but is for a wide variety of products.
the founders and creators of decide.com sold their first company to BING, which helps the search engine determine what is the best price for airline tickets and if those tickets are expected to rise. decide.com has the same idea, but is for a wide variety of products.
Business, what is the point?
There is a fundamental argument of what the purpose, the end goal, of what business should be. Milton Friedman, a world renowned economist, said, "The social responsibility of business is to increase its profits," he also said that corporate executives have no other responsibility than to "make as much money for their stockholders as possible." Milton believed that ethics would lead people to do the right thing, a laissez-faire market would self-regulate, and the citizens of that country would be taken care of because of the spill over from job creation and wealth.
This idea is not new. Adam Smith argued, in his legendary book, The Wealth of Nations, "in consequence of the division of labour... in a well-governed society, that universal opulence which extends itself to the lowest ranks of people." More or less, the more specialized and advanced the country is, the better off the citizens of that country will be. The poor here in the States have a much better life than those in say, Haiti, they are afforded with better clothing, food, shelter, etc.
Not long after Smith, people started to expand across America and the industrial revolution was taking off in Europe and America. This was a time of great innovation and progress, at the heavy cost of wasteful use of the earth and loss of lives. Product waste was dumped in rivers and lakes. Pollution was a norm for profitable business practices.
During the 1980's financial instruments and investments changed the way people did business. It was a fast growing time. In the 1987 movie Wall Street, Michael Douglas plays the fictional character of Gordon Gekko, a successful and power hungry stockbroker. The video below illustrates the attitude that America held.
This attitude, money is ALL that matters, had not really been challenged until the 1990's, when unethical behavior and environmental calamities came to forefront of the publics eye, until we had to face the facts - business is more than just profits. Regulation had just pushed large corporations overseas, who would rather pay a lesser cost than being accountable.
Business leads the way for mankind, it is more mobile, efficient, innovative, and productive than the government. Government policies and decisions are often born from the business world, and there are considerably more people involved in business than the government. The upcoming generation is much more conscious of their carbon footprint. Corporations have seen that, and for reputable purposes or genuine care, they have altered their approach.
Take for instance Starbucks mission statement: "to inspire and nurture the human spirit - one person, one cup and neighborhood at a time." Pretty lofty goal for a company that sells coffee. However, they are serious by creating many initiatives, from recycling to clean water projects (they offer their score card and reports since 2001). Another initiative is that Starbucks has vowed to only buy their coffee beans that are wholly part of fair trade (fair trade is ethical treatment of everyone within the supply chain, from farmer to distributor, everyone gets a fair price, working conditions, etc.) to ensure that these domestic and foreign markets are better off in their communities.
There are other companies that are doing similar things (Microsoft, Merk and Co, People Water, Toms, among many more) and it has made the world a better place. Small businesses to large corporations should not be given a pass on making ethical decisions. We need to demand from ourselves and others a sense of accountability, to give back to the future that will follow us. There is a better way to make a profit.
Impact Investing.
In Africa
EcoScraps (BYU alum). You can find them in Costco and Home Depot, from Utah to Hawaii.
In India
This idea is not new. Adam Smith argued, in his legendary book, The Wealth of Nations, "in consequence of the division of labour... in a well-governed society, that universal opulence which extends itself to the lowest ranks of people." More or less, the more specialized and advanced the country is, the better off the citizens of that country will be. The poor here in the States have a much better life than those in say, Haiti, they are afforded with better clothing, food, shelter, etc.
Not long after Smith, people started to expand across America and the industrial revolution was taking off in Europe and America. This was a time of great innovation and progress, at the heavy cost of wasteful use of the earth and loss of lives. Product waste was dumped in rivers and lakes. Pollution was a norm for profitable business practices.
During the 1980's financial instruments and investments changed the way people did business. It was a fast growing time. In the 1987 movie Wall Street, Michael Douglas plays the fictional character of Gordon Gekko, a successful and power hungry stockbroker. The video below illustrates the attitude that America held.
This attitude, money is ALL that matters, had not really been challenged until the 1990's, when unethical behavior and environmental calamities came to forefront of the publics eye, until we had to face the facts - business is more than just profits. Regulation had just pushed large corporations overseas, who would rather pay a lesser cost than being accountable.
Business leads the way for mankind, it is more mobile, efficient, innovative, and productive than the government. Government policies and decisions are often born from the business world, and there are considerably more people involved in business than the government. The upcoming generation is much more conscious of their carbon footprint. Corporations have seen that, and for reputable purposes or genuine care, they have altered their approach.
Take for instance Starbucks mission statement: "to inspire and nurture the human spirit - one person, one cup and neighborhood at a time." Pretty lofty goal for a company that sells coffee. However, they are serious by creating many initiatives, from recycling to clean water projects (they offer their score card and reports since 2001). Another initiative is that Starbucks has vowed to only buy their coffee beans that are wholly part of fair trade (fair trade is ethical treatment of everyone within the supply chain, from farmer to distributor, everyone gets a fair price, working conditions, etc.) to ensure that these domestic and foreign markets are better off in their communities.
There are other companies that are doing similar things (Microsoft, Merk and Co, People Water, Toms, among many more) and it has made the world a better place. Small businesses to large corporations should not be given a pass on making ethical decisions. We need to demand from ourselves and others a sense of accountability, to give back to the future that will follow us. There is a better way to make a profit.
Impact Investing.
In Africa
EcoScraps (BYU alum). You can find them in Costco and Home Depot, from Utah to Hawaii.
In India
business casual
I got an internship. I am pretty excited about. I am not excited about the dress code - biz casual. Business clothes are a little uncomfortable, but it is not that I mind that. What I mind is my inability to buy a shirt that fits me. I have never had to buy my own dress shirts until a few years ago. I had plenty of hand-me-down white shirts, but I needed the business blues and stripes. I thought you just had to look at the neck size and that was it. Boy. Was. I. Wrong. So wrong.
NEWS FLASH: You have to consider the arm length as well. You know the apendages that are shooting out of the sides of your torso! My shirts would be a little snug before I would wash and dry them, but after I put them on after a dryer session, my only option was to roll them sleeves up. Idiot. Now, after help from Steve-O I know I wear a 16ish and 34/35. Thanks Steven.
I still do not own a credit card....
NEWS FLASH: You have to consider the arm length as well. You know the apendages that are shooting out of the sides of your torso! My shirts would be a little snug before I would wash and dry them, but after I put them on after a dryer session, my only option was to roll them sleeves up. Idiot. Now, after help from Steve-O I know I wear a 16ish and 34/35. Thanks Steven.
I still do not own a credit card....
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