Those cute little girls selling cookies outside your local market are exercising their entrepreneurial rights. In various girl scout troops all over the U.S., specifically the eastern Massachusetts troops have decided to increase their cookie box sales from $4 to $5, the first raise in eight years. The increase is not very drastic or uncommon; two California girl scout troops in San Gorgonio and Central Coast also charge $5 a box. According to President of the Girl Scouts of Eastern Massachusetts, Patricia Parcellin, sales are going to hike up each per unit profit to $0.90 versus the previous $0.62 profit in past years. She also states that they do not expect a drop in sales with the increase in prices because people still want to support and believe in the girl scout values and skills that they are learning. They have consulted with other troops in California and Hawaii, who also raised their prices, and they reported no adverse results. Their reason to increase prices are due to a higher cost of ingredients, transportation, and storage. So when you’re going to take a trip to the grocery store and see those smiling faces, make sure you have a little more money than you usually would.
Category Archives: Uncategorized
Iran in New York
Over the past decade, Iran has isolated themself from the rest of the world. Now they are in the rebuilding stages, but need at least $150 billion in annual investments to move them along in the process, which brings Hamid Biglari to New York. Biglari is a 57 year old Iranian-American and a graduate of Cornell University, who also is an ex-Citigroup banker under the wings of Robert Rubin and Sandy Weill. He is not an official representative, actually he has no official role, but is definitely President Hassan Rouhani’s “go-to-man” when it comes to financials. Biglari puts his efforts into brining investments back to his home country by bringing together Iranian power brokers through conferences and private meetings. He had left in 1979, prior to the revolution, and did not return a single time until three decades later under the reformation of Rouhani. As a successful story, he is offered many opportunities such addressing the Iranian central bank. However, Biglari knows that he is facing an uphill battle, he comments, ““Iran missed the golden era of globalization from the late nineties to 2008, where a rising tide lifted all boats…Iran can’t afford to miss the next wave.”
McDonald’s Worldwide Sales Rise
In the third quarter, McDonald’s reported that worldwide increased by 4% due to the recoveries in the U.S. and China. McDonald’s is currently in a plan that was implemented to encourage year-long sales by introducing breakfast all day. McDonald’s, which recently introduced a new reporting structure, said same-store sales for its “high growth markets” increased 8.9%, driven by “very strong” sales performance in China and positive sales in most other markets. In assessing its sudden strength in China, where it has had trouble winning back customers since since a food safety scandal with a meat supplier over a year ago, McDonald’s pointed to its emphasis on value and breakfast offerings during the quarter. McDonald’s numbers have surpassed market analysts at the ceiling and floor. Revenue was reported at 6.62billon dollars, which is a 5% drop, but beat the 6.41 billion dollar for estimated high.
Seven Things That Make Great Bosses Unforgettable
With no surprise, Google has ranked #1 in Fortune Magazine’s list of “100 Best Companies to Work For,” for the second year in a row. Many pair their success with the superb benefits and perks that come with working at google. However, Google says it has to do with their bosses. They say that people leave their bosses, not the company. Therefore, Google “builds each Googler the boss of their dreams.” It started with simple research about what makes a great manager, then those skills and qualities were turned into a training program. Once the Googler has completed the course, Google measures behavior to improve and develop that person into a great manager. Google came up with seven great qualities that great managers need:
- Great bosses are passionate. They need to care, so everyone else and make it fun in order to get others to join.
- They stand in front of the bus. Instead of throwing you under the bus, a great boss encourage and teach you how to overcome obstacles. Sometimes they even may need to clean up your mess.
- They play chess not checkers. Great bosses realizes not everyone is the same and delegate jobs and responsibilities based on each person’s unique attributes, strengths, and weaknesses to ensure the most efficiency from the individual and team.
- They are who they are, all the time. Basically, a great boss does not lie or hide information and leave their team in the dark.
- They are a port in a storm. In the most high pressure of situations, great boss remains calm and keeps the team focused and ready for the next move.
- They are human. They express emotion and are relatable as a human being not just a superior. But they are able to control those emotions as necessary.
- They are humble. Great bosses do not carry themselves as if they are better or superior to their team.
All in all, to be a great boss, you need to be a human, treat your team as an equal, and be the pillar to balance and hold your team up when they need it.
Article: http://www.forbes.com/sites/travisbradberry/2015/10/15/7-things-that-make-great-bosses-unforgettable/
Why Can’t I Buy Video-Streaming Devices on Amazon?
Amazon has recently announced that they will no longer be selling any media-streaming devices from Google and Apple that are incompatible with Amazon’s video service. This is one of their recent efforts to implement their own retailing strategy.
Actions have been taken, and Amazon has already sent out emails to its sellers that it will stop all sales of Apple TV and Google’s ChromeCast as of October 29, 2015. The email went on to explain the reason behind this ban , “Over the last three years, Prime Video has become an important part of Prime,” Amazon said in the e-mail. The ban was created because these devices do not play Amazon Prime very well, a complication with software. However, they are a few companies that are safe from this ban including; Microsoft’s XBox, Sony’s Playstation, Roku Inc.’s set-top device. The amazon equivalent to the ban is the Amazon firestick, which is a jump drive that connects to television with the streaming services that include netflix and prime video.
This move was strategically implemented weeks before the holiday season in hopes in boost the amazon media-streaming devices. Although Google and Apple devices are among the top sellers, Amazon is confident that this the best move for their retailing strategy. This ban does not violate any laws because consumers still have the option to purchase these products in other places.
Although Amazon feels very confident about this ban, but they are skeptics that base their side on facts. Fewer than 20 percent of amazon customers are amazon prime members, so it is clear to see where the other 80 percent stands.
Article: http://www.bloomberg.com/news/articles/2015-10-01/amazon-will-ban-sale-of-apple-google-video-streaming-devices
Vloggers, the Golden Ticket to Marketers
Today, our society is very immersed in the media culture, videos, pictures, blogs, and vlogs. It has become something that is considered to be a “norm.” Vloggers, or people who make videos for a living, are contesting that they have become marketers best friends. Last year, Felix Khellberg, aka PewDiePie who makes a living by uploading videos of himself playing video games, reported to have earned $7.4 million in 2014. However, in one of his recent videos, he proclaims that he was not in for the money. He goes on to say that money is not really that important to anyone.
Many are very skeptical is extreme success through making a videos of him playing games. Our society always constantly putting time, attention, and money into these industries, but are so quick to judge when success is seen. If Khellberg was a successful investor in Wall Street, he would not receive the amount of criticism he is now. Making a living being a vlogger is not as easy as many portray it to be. There are millions of other vloggers out there, what makes you special and make a vast audience loyal to your page? And then it becomes more complicated when you sign contracts with other companies who want to put their advertisements on your blog. There are types of revenues that are being made, but with that, there are multiple companies and vendors within this chain that are taking their cut of the profit.
From a marketer’s prospective, vloggers are the golden ticket. There are videos for every type of market. They are compared to the popular kid in school, everyone wants to be that person and live the life they do. With this, companies have an effective way to place their products based on the following of that blog. This has become an effective and easy way of reaching out to a wide array of customer because they are all in one place.
Article: http://www.forbes.com/sites/edmundingham/2015/09/25/the-worlds-most-successful-vloggers-the-fees-they-command-and-why-they-are-marketers-best-friends/5/
5 Worst Cash-Flow Mistakes
Success is only relevant if a company can withstand and survive throughout the years. Many companies have success through revenues, but have a difficult time managing their cash flows. According to the financial services sector of the U.S. Bank, approximately 82 percent of small business, including start-ups, crash due to poor cash flow management. A recent study discovered that there are five common problems that contribute to poor cash flow management.
The first problem being the overestimating of future sales. Although optimism is always needed when starting and running a business, the optimism needs to be realistic. There are two types of forecasting that should be used for cash flow projection, quantitative forecasting and revenue forecasting. In order to make realistic forecast, a company should use real numbers from historical data from their business or its competition, which is called the quantitative method. It is important to keep track of one’s competitors because you will be able to compare numbers and more easily see the market and industry trends. Revenue forecasting is not a method that is suggested for the first few years. Despite what method is chosen, it is key to use objective facts and figures rather than hopeful dreams.
A second problem that is recognized is mostly seen in the beginning phases of the business, impulsive and excessive spending for startup phase. It is true “to make money, you need to spend it,” but it’s important to spend and allocate the money wisely. To prevent your company from frivolous spending, a realistic budget should be drawn up prior to actually spending. This budget should at least allow your company costs to breakeven, and add a little cushion for unforeseeable obstacles and expense.
Being passive about past-due receivables has also proven to be a problem. Most small companies do not have a strict collection timeline or procedure. It is important to set distinctive and concrete policies that all customers must abide by. Within these procedures, be sure to add in penalties and consequences for late payments. Another suggestion is also adding incentives such as discounts for those customers that keep up with timely payments.
The last two problems are not using a cash flow budget and not having cushion for unexpected events. These problems can be solved by implementing the suggestions that were given in the first three solutions. All in all, businesses need to spend money to earn money, but the objective is be smart and plan your spending. If you are able to foresee where and how you will spend your money, the easier it will be when unplanned challenges occur.
article: http://www.entrepreneur.com/article/249020
Unemployment, Inflation, Oh My!
It appears that the labor market is continuing its upward turn. In early September, the number of Americans filling for unemployment benefits dropped. The state unemployment applications dropped by approximately 6,000 to come up with an adjusted total of 275,000 for the week ending September 5th. This is the reported 27th straight week that the rates have been steadily the 300,000 mark. This upward trend is said to reflect a strengthening labor market.
“Consistently low readings for initial and continuing jobless claims suggest that the separations side of the labor market remains healthy, and we see little reason to expect a meaningful shift in labor market dynamics in the near term,” said Jesse Hurwitz, an economist at Barclays in New York. Aside from the strengthening labor market, the Labor Department is also seeing the import sector is also doing well. Import prices have fallen by 1.8 percent during the month of August. The price drops seen in August have been the largest that the market has seen in seven months.
With a large decrease in import prices, one can speculate that the U.S. dollar is strong and a global demand continuing to put the downward pressure on imported inflation. These declines are stretched across 12 of the past 14 months. With the continuous 12 months through August, import prices have decreased by 11.4 percent, one of the largest drops that have been seen since late 2009.
Alongside the import prices, unemployment rates are at an all time, of the past seven years, low of 5.1 percent, which is in range that majority of the Federal Reserve officials would correlate with low rate of inflation. The consistent decrease in the inflation rate is a reflective image of the U.S. dollar. The dollar’s impacts has increased almost 17% compared against competitive currencies since June of 2014. The market and inflation rates seem to be looking up and the U.S. economy can almost be referred to as “steady.”
Article #2: Falling Gas Prices
Labor Day weekend cruises were in full-effect for Americans this year. Gas prices were at all time low almost as low as it was when “George W. Bush was in his first term as president.” Since June of this year, gas prices have been steadily decreasing; hitting an average of $2.40 per gallon, almost a whole dollar less than it was last year. However, Hawaii, California, Nevada and Alaska fall short of that trend and still have gas prices that hover over $3.
Why are gas prices so cheap now-a-days? The gas prices have dropped consequently from the drop in oil prices. Oil is now traded at $46 a barrel compared to an almost doubled rate last summer. In previous years, when the prices began to fall OPEC would intervene and halt production. However, this year, the world’s largest oil suppliers are still pumping in midst of their new strategy to pressure American oil producers. Another factor that has contributed to the falling oil prices is the pending sanctions deal with the Iran.
Although the American consumer loves the idea of gas prices beginning to dwindle, there is a harsh reality to our pleasures. With the steadily falling prices, jobs in U.S. oil companies have had to implement job cuts, approximately over 86,000 cuts. These job cuts are a direct effect of the stagnant fluctuation for supply and demand for oil stemming from June of 2014.
The drastic drop in gas prices also poses the question of if this is just a phase, but experts believe that the prices will continue to drop. According to the Energy Information Administration, a government agency that tracks the oil sector, the national average will conclude at $2.11 per gallon at the end of this year. The projected supply and demand is expected to remain constant to how it is now. Experts also believe that gas prices could possibly even drop to $2 per gallon by this Christmas.
Barbieri, Rich, and Jackie Wattles. “The Return of Cheap Gas.” 6 Sept. 2015. CNN Money. Web.
Article #1: Burger King and McDonald’s Collaborate?
Early last week, Burger King had made a proposition to McDonald’s to join forces in the fast-food world. Burger’s King’s proposed to combine ideas and create the McWhopper, a unlikely combination between the two rival burger giants’ signature burgers, the Big Mac and the Whopper. The news of this opportunity went viral in the Chicago Tribune.
In their proposition, Burger King suggested that the hybrid burger be sold in one, being Atlanta – a common ground for both, in pop-up store. The proposed date was September 21, with all proceeds going towards the nonprofit Peace One date. Aside from releasing the ad, Burger King also went ahead and created a website that showcased its proposal and also leaking a possible recipe for the McWhopper.
Soon after the Burger King stunt went viral, McDonald’s CEO sent a kind message on Facebook. He commended their efforts for trying bring the forces together for a greater good, but subtly denied the offer, even added a little bit of retaliation by stating that “a simple phone call will do next time.”
Chew, Jon. “Burger King Wants McDonald’s Help to Make the ‘McWhopper.'” Time Magazine. (2015). print.
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