the needs are the fundamental part of why we should managing diversity in workplaces

 This week, the unit 7, the topics are focus on managing diversity in workplaces, how does it impact business performance, what factors are influence the effects of diversity, and how to use the Balanced Scorecard. I think back to the definition of an entrepreneur, a person who sets up a business or business to satisfy discovered needs, taking on financial risks in the hope of profit. I think the needs are the fundamental part of why we should managing diversity in workplaces and even benefit from it. For example, even many people are iPhone lovers, they still choose different colors and sizes. For different people, the needs can be very different. Some of them do not need 512G or more capacity. Although most of us need a phone to communicate with people we have to spend time with, how we use our phone is still varied. 

A Story of Empathy

I think of an interesting story about respect for diversity. "Sometimes You're A Caterpillar" In the garden, there's a caterpillar and a snail, and they're basically best friends. They hang out 24/7. One day, they're on their way to a party that's right outside the garden, and they have to go through the fence to get there. So the caterpillar goes right through, but the snail is stuck. Her shell is just too big and it won't fit under the wire, so she's like, "Crap! I can't get through! Maybe, like, can you lift up the wire, or maybe we can build a little bridge or something?" And the caterpillar's like, "Dude, just go under." And the caterpillar's like, "Go under, come on. We're gonna be late." 

But it's not happening. The shell will not fit under the wire, and at this point, Snail's getting kinda frustrated because it's not like she doesn't wanna go to the party, but for some reason, the caterpillar just isn't getting it. "It's not that easy for me. I just can't crawl under the fence like you can, so I would really appreciate your help here." And this just, like, sets the caterpillar off. "What the heck! Just because I can crawl under stuff doesn't mean that I have it easy. Do you even know what it's like to have 16 feet?! You don't, because finding shoes is a complete nightmare." "I'm just saying I can't go under the fence because of my shell, that's it. I have a shell and you don't, and there's some stuff that's easier for you that's harder for me, just like, I don't know about finding shoes because I don't have feet!" At this momoent, the caterpillar realizes the snail is right. I mean, he's never had to think about shells or slimy trails, and that's a privilege that the snail has never hadbecause she has to think about that stuff all the time. That's part of being a snail. And it's kind of like that for everyone.

We all have our own struggles and challenges, and some of them are small, and some of them are huge and really unfair and beyond our control. And a lot of the time, it can be hard to see what someone else deals with because you've never been in their shoes...or shell. 

Diversity such as having a disability, or different religion, or a different race. Oftentimes, they don't know what it's like to be you, and you don't know what it's like to be them. So it's really important to stop and try and see the other side so we can help each other overcome those obstacles together. It's like sometimes you're the snail, and sometimes you're the caterpillar.

Reference

YouTube. (2015). Sometimes You're A Caterpillar. YouTube. Retrieved October 17, 2021, from https://www.youtube.com/watch?v=hRiWgx4sHGg. 

Managing Diversity in the Workplace

Managing Diversity in the Workplace

Preface

When people refer to diversity, they may be thinking first of ethnicity and race, and then, of gender. However, diversity is much broader than that. Diversity can apply to anyone you perceive to be different from yourself. Dimensions of diversity include, but are not limited to age, ethnicity, ancestry, gender, physical abilities and work experience, or any other dimensions. It is widely noted that diverse teams lead to more innovative and effective ideas and implementations because it requires using diverse perspectives to reach new and creative thinking. Conversely, similarity can cause groupthink and diminishes creativity. Assume that you are the CEO of a shoe company. How can you best tap into the diversity within your company to help you to improve your systems for marketing and selling your product? How can you attract a more diverse workforce and why might this be beneficial? What are some ways that you might incorporate the diversity that you have into developing a workplace culture that values diversity? These tasks can be difficult at first, but we can set our goals, keep them on track, and eventually achieve them.

How can you attract a more diverse workforce and why might this be beneficial?

Many studies have proven that more diversity and inclusion leads to higher revenue and better innovation. Loyalty will also be impacted as many customers will not shop in companies lacking these characteristics. A company that employs a diverse workforce is better able to understand the demographics of the various consumer markets it serves. With the emerging markets around the world, organizations need local talent to enter the marketplace and to communicate effectively. Therefore, localization is one way to do it. Another one is adaptation. Organizations must be technologically and culturally adaptable in the modern economy. Diversity fosters creative thinking and improved decision-making through a deeper and more comprehensive worldview.

What are some ways that you might incorporate the diversity that you have into developing a workplace culture that values diversity?

i. Hire diverse staff

Every business owners want to hire the best employee for each position, but patience can render the best staff with diverse backgrounds. 

ii. Retreat & Build Great Relationships

Give your staff a chance to get to know one another outside of work and plan some team-building activities that encourage your staff members to talk to each other.

iii. Diversity Programs

Some companies will approve funding for a diversity program and allow staff to take a workday for the course. Diversity classes expose people to new ideas, encourage acceptance, and may result in a higher level of productivity. Whether you take it online or invite a diversity expert to deliver an in-office course, diversity workshops can be beneficial to the office.

iv. Education

Education comes in the forms of training, team-building exercises, or courses. The goal of these is to make them aware of their own unconscious bias, bridge gaps, and strengthen relationships. 

In conclusion, managing diversity in the workplace is a necessary challenges for HR professionals. These challenges can be mitigated if an organization makes a concerted effort to encourage a more heterogeneous environment through promoting a culture of tolerance, open communication and creating conflict management strategies to address issues that may arise. To manage a diverse workplace, organizations need to ensure that they effectively communicate with employees. Policies, procedures, safety rules, and important information should be designed to overcome language and cultural barriers. Judge successes and failures on the individual’s merit rather than attributing actions to their background. Help them break down preconceived notions and cultural misunderstandings and make sure each employee is treated the same. Look for ways to incorporate a diverse range of perspectives and talents into efforts to achieve organizational goals.

Reference

Holt, M. (2017, November 21). How to create an organizational culture that values diversity. Small Business - Chron.com. Retrieved October 16, 2021, from https://smallbusiness.chron.com/create-organizational-culture-values-diversity-1198.html. 

Putting the Balanced Scorecard to Work with Apple

 What Is The Balanced Scorecard?

The balanced scorecard is a strategy performance management tool and a structured report that companies used to keep track of the execution of activities. It is a scorecard for business performance and a strategic planning and management system used to align the daily operation ensure all members and partners are doing with strategy, state what goals they are trying to accomplish, and measure the progress. The scorecard presents managers with four different perspectives from which to choose measures. It includes four dimensions, Financial, Customers and Stakeholders, Internal Process and Leadership, and Growth. It also complements traditional financial indicators with measures of performance for innovation and improvement activities. Notice that the balanced scorecard is not a template that can be applied to all businesses. Different markets, product strategies, and environments may require different scorecards. 

Moreover, unlike conventional metrics, the information from the four perspectives provides a balance between external measures(operating and income) and internal measures(new product development). Most of the traditional concepts are only focus on finances and customers. Executives may introduce new operating processes intended to achieve breakthrough performance, then continue to use the same short-term financial indicators they have used for decades, measures like return-on-investment, sales growth, and operating income. However, they fail not only to introduce new measures to monitor new goals and processes but also to question whether or not their old measures are relevant to the new initiatives. 

However, it is not as simple as customers spend their money for your products and you build your financial accounts to keep provide more products. Assume that companies or organizations are like trees, finance is water, customers are the soil or the planet, internal processes and leadership are the tree's trunk, leaves, and roots, growth is the sun. Each part contributes to the overall growth of a company. Customers provide their money(water, finance) to the roots, companies consume the water and solar to grow and build deeper roots. 

Why We Should Consider To Use It? What Are The Benefits?

i. It is a comprehensive view of a business, not just a financial view.

ii. It helps companies to focus on their long-term goals rather than short-term ones.

iii. Keep goals, objectives, and strategies on track rather than anticlimactic.

Putting the Balanced Scorecard to Work with Apple

Apple Inc. is a multinational technology company that specializes in consumer electronics, software, and online services. As such a tech giant, Apple developed a balanced scorecard to focus senior management on a strategy that would expand discussions to cover the margin, return on equity, and even market share. According to a Harvard Business Review article, Apple uses five performance indicators, customer satisfaction, core competencies, employee commitment, market share, and shareholder value to measure its performance and productivity.

i. The Customers & Foster The Core Competency

Historically, Apple has often been named as a technology, innovation, and product-focused company by designing better gadgets. However, Apple has introduced measures that trying to shift the emphasis toward customers. One of the metrics is ACSI’s time-tested, scientific model provides key insights across the entire customer experience. The American Customer Satisfaction Index (ACSI) is the only national cross-industry measure of customer satisfaction in the United States. The Index measures the satisfaction of U.S. household consumers with the quality of products and services offered by both foreign and domestic firms with significant shares in U.S. markets. Equipping employees with innovative solutions is essential to developing their competencies. However, measuring the impact these solutions have is a complex task. 

ii. Employee Commitment

Apple conducts a comprehensive employee survey in each of its organizations every two years. The surveys of randomly selected employees are performed more frequently. The survey questions are concerned with how well employees understand the company’s strategy as well as whether or not they are asked to deliver results that are consistent with that strategy. 

iii. Market share

By now, Apple not only increases its profits but also influences the software developers they collaborate with. To attract and retain software developers to Apple platforms is crucial for Apple. According to Statista.com, Apple claimed 15% of the smartphone market by sales to end-users in the first quarter of 2021, remaining relatively stable compared with the previous quarter.

iv. Shareholder Value

Apple has been continually increasing shareholder value. It has done this by declaring dividends to investors and through a series of share buybacks, both in the open market and as accelerated share repurchases. 

Summary

These five indicators help in managing long-term performance and aids each of its units to progressively advance its activities and performance. The balanced scorecard helps Apple to keep tracking their performance to set objectives and goals. In addition, Apple has found that its balanced scorecard has helped develop a language of measurable outputs for how to launch and leverage programs.

Reference

About the american customer satisfaction index. American Customer Satisfaction Index. (n.d.). Retrieved October 15, 2021, from https://www.theacsi.org/about-acsi. 

Published by S. O'Dea, & 10, S. (2021, September 10). Apple smartphone market share by sales 2021. Statista. Retrieved October 15, 2021, from https://www.statista.com/statistics/1168529/global-apple-market-share-2020/. 

Robert S. Kaplan and David P. Norton. (2015, July 16). Putting the balanced scorecard to work. Harvard Business Review. Retrieved October 15, 2021, from https://hbr.org/1993/09/putting-the-balanced-scorecard-to-work. 

McDonald's Has Pledged To Make Its Packaging and Restaurants More Earth-Friendly

 Preface

McDonald's is an American fast-food company, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California. Then, they rechristened their business as a hamburger stand and later turned the company into a franchise. Although McDonald's is best known for its hamburgers and fries, they also provide feature chicken products. By now, McDonald's is the world's largest restaurant chain by revenue, serving over 69 million customers daily in over 100 countries. The company has worked toward several CSR goals since 2016, such as purchasing sustainable beef and plans to completely eliminate foam packaging by the end of 2021. McDonald's also trying to reverse the unhealthiness image of its brand. In response to changing consumer tastes and a negative backlash because of the unhealthiness of their food, the company has added to its menu salads, fish, and fruit.

McDonald's Has Pledged To Make Its Packaging and Restaurants More Earth-Friendly

The McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants. Now, McDonald's has pledged to make its packaging and restaurants more Earth-friendly. By 2025, McDonald's plans to use renewable, recyclable, or certified materials in all of its packaging, and it will put recycling bins in its restaurants. By 2021, about half of McDonald's packaging comes from renewable, recycled, or certified materials. Only 10% of stores currently offer recycling bins for customer use. 

COVID-19 Pandemic

As a result of the COVID-19 pandemic, McDonald's closed most seating and all play areas in its United States restaurants. It transferred to the drive-thru and curbside orders at locations and online food ordering delivery services. The re-opening of McDonald's restaurants for the drive-thru in the United Kingdom generated significant queues of traffic throughout the country. Hygiene and Safety are important drivers of the brand trust for McDonald's customers as well as its employees throughout the supply chain. During the pandemic, McDonald’s Global Food Safety provided guidance to markets, suppliers, and audit firms regarding a risk-based approach to conducting food safety audits. The advice focused on conducting audits during times of restricted movement or lockdown situations in countries or regions where suppliers operate. 

So, What Is Its Strategy?

McDonald's developed a new Global Food Safety Structure. Through the new structure, it has dedicated resources in the areas of global food safety risk management and food safety standard deployment and training. McDonald’s made a promise in its report to make sure its policies and procedures are upheld throughout the supply chain. McDonald's also announced ongoing programs to educate employees about safe food and provide regular food safety training for restaurant operators and staff. From the inside to the outside, the staff will have the confidence to provide higher quality food.

Collaborating With Stakeholders

McDonald's has a Food Safety Advisory Council and meets annually to listen to the progress and to offer guidance on areas for improvement and current industry best practices. 

 

Putting Into Practice

Annual third-party food safety verification audits are conducted with our suppliers, distribution centers, and restaurant locations. Performance measure indicators are published and reviewed to ensure the best results.

Charity Activities Sponsored by McDonald's

McHappy Day

McHappy Day is an annual event at McDonald's, during which a percentage of the day's sales go to charity. It is the signature fundraising event for Ronald McDonald House Charities. In 2007, it was celebrated in 17 countries. According to the Australian McHappy Day website, McHappy Day raised $20.4 million in 2009. The goal for 2010 was $20.8 million.

McDonald's Monopoly donation & McRefugee

In 1995, St. Jude Children's Research Hospital received an anonymous letter postmarked in Dallas, Texas, containing a $1 million winning McDonald's Monopoly game piece. McDonald's officials came to the hospital, accompanied by a representative from the accounting firm Arthur Andersen, who examined the card under a jeweler's eyepiece and verified it as a winner. In addition, McRefugees are poor people in Hong Kong, Japan, and China who use McDonald's 24-hour restaurants as temporary hostels.

The Sustainable Development Goals

McDonald's is trying to support the 17 UN Sustainable Development Goals, a global agenda to end poverty, protect the planet and ensure prosperity for all. Particularly, the Goal 2: Zero Hunger. 

Sourcing Food, Quality Ingredients in Responsible Ways

McDonald's is trying to create a future of quality, secure and sustainable food because how the food is produced and where it comes from matter to its customers, communities, and the environment. McDonald's is investing in strong partnerships with its suppliers and farmers around the world to offer balanced, wholesome options.

What Impressed Me About Its Dedication to Corporate Social Responsibility?

Create alliances is a good way to creating an effective green marketing strategy. McDonald's has collaborated with sustainable business partners, such as those from its source ingredients or other materials. In addition, as a fast-food franchise giant, providing safe food is its top priority and a responsibility that should take seriously. All of its customers expect it to maintain food safety standards and protocols. So, what McDonald's is doing, is to integrate it into every aspect of its operations. From food sourcing and menu development to packaging, distribution and logistics, and the daily running of our restaurants. 

Another idea that impressed me is Digitizing Food Safety. McDonald's looking for new opportunities to harness technology to improve efficiency. Since 2017, McDonald's has launched an interactive global food safety website to connect its stakeholders all over the world to learn more about hygiene and safety. This Digital Food Safety system will be implemented in all markets by the end of 2022 and will make it easier and faster for its restaurant employees and managers to follow procedures and demonstrate compliance.

In What Ways McDonald's Could Do More of Green Marketing Strategies?

To summarize, the keys to creating an effective green marketing strategy is to understand the market and the underlying values and beliefs of your consumers and other key stakeholders, make sure that the products and services balance the needs of meeting consumer’s desires for quality, convenience, and affordability with sustainability goals, be specific and simple to spell out exactly what makes your product or service is environmentally friendly, and be honest, do not overstate your green credentials in any way. The biggest challenge for McDonald's is to earn the trust since it has been commonly known as an unhealthy food provider. However, Trust Must Be Earned. During the trust-earning period, "do not overstate its green credentials in any way" is the top priority. Moreover, "mind the details" is like "mind the gap" for McDonald's.

Reference

Our purpose & impact - mcdonald's. (n.d.). Retrieved October 11, 2021, from https://corporate.mcdonalds.com/corpmcd/our-purpose-and-impact.html. 

Wikimedia Foundation. (2021, October 9). McDonald's. Wikipedia. Retrieved October 11, 2021, from https://en.wikipedia.org/wiki/McDonald%27s. 

Green Marketing

 Green Marketing

To be most successful, a commitment to sustainability should be part of the company’s overall vision and an integral part of the company’s values and fundamental beliefs. A marketing plan is derived from the company’s vision and integrates an organization’s overall goals and marketing objectives and strategies into a cohesive plan, typically on an annual basis. The green marketing plan focuses on the ideal marketing mix to achieve maximum profit potential while adhering to sustainability principles.

Green market products are previously owned products that have been previously used and put back into productive use these products are often repaired, refurbished, and recycled by brokers resellers or the original manufacturer. They are suitable for resale to customers as a lower-cost alternative to buying new goods. 

The Gray market

In the late 1980s, manufacturers labeled the resold products as gray market there is nothing illegal about buying gray market products. In fact, the US Supreme Court has upheld that gray market products are legal for resale in the United States regardless of where they were produced or originally sold. The term gray market was chosen because of its similarity to the old term black market which refers to stolen and illegal products. 

Putting green market products into productive use or using the parts from green market products for repair is very cost effective and environmentally responsible. Replacing broken products with newer products has a negative effect on the environment and has been recognized as ecologically hazardous. 

Electronic equipment is made up of many precious materials including highly refined glass, gold, aluminum, silver, polymers, copper, brass, and more. Electronic recycling companies have the ability to store disassemble separate and transport these materials to companies for reuse and manufacturing this is an environmentally better solution than dumping the used products. In landfills, such dumping may pollute soil and water was dangerous and non biodegradable waste.

Going Green with Tesla, The Innovation - Every Roof Can Be Beautiful and also Powerful

 Going Green? 

It does not mean companies should just redesign their trademarks or paint their offices and buildings green. Going green is a popular English phrase often used to describe a process that consumes less energy, less carbon emission or, less waste of materials. "Green" is the color of most trees and a common color of nature. "Going" means on the way to change, such as manufacturing methods, products, or lifestyles, in order to reduce waste and pollution. 

Going Green with Tesla

Tesla, also known as Tesla Motors, is the largest electric vehicle and solar panel company in the United States right now in 2021. It also mass produces batteries for its electric vehicles. Not only in the electric vehicles business, Tesla also provides its new generation of electricity systems such as Powerwall, Solar Roof, Megapack, and Powerpack. 

The Innovation - Every Roof Can Be Beautiful and also Powerful

The whole new Tesla Solar Roof is a beautiful and useful product. It provides more people to install the Solar Roof and power their houses with a fully integrated solar and storage system. It is a seamless design and each tile looks great up-close and complementing the natural aesthetic styling of every customers' home. Moreover, the Solar Roof tiles are durable and engineered for all-weather protection. Tesla even provides a 25-year warranty for its Solar Roof tiles. That provides more people the incentive to join the green energy revolution. 

What Identifies Tesla as Being Green?

As mentioned earlier, Going green refers to a process that consumes less energy, less carbon emission or, less waste of materials. What Tesla is doing and its product lines such as the Solar Roof and its electric vehicles all focus on a zero-emission future. The Solar Roof is a responsible product and service rather than just massively produce electric vehicles and ignore the charging sources and electricity. Its CEO, Elon Musk is trying to systemically change how we move and transfer our energy consumption to clean and renewable.

How Does Tesla Communicate Its Green Efforts To The Public?

Persist to do the right thing is Tesla trying to tell us during the past 10 years. By working hard on things that can make the world a better place without being stopped by any gossip, Tesla has built its reputation and earned the trust of its customers. On Tesla's official website, there are impact reports for its stakeholders to read and understand what Tesla is doing.

What Are The Differences between Tesla and Its Similar Companies and Competitors in The Same Industry?

Well, that's an interesting question. Most of Tesla's similar companies and competitors are all in this industry for decades, but they just not put enough effort to develop their zero-emission products. Or, similar companies such as Nikola or Toyota, are going in different directions. They bet on hybrid cars and hydrogen vehicles. Therefore, give Tesla a great opportunity to quickly grow its market share. 

Reference

Solar roof. Tesla. (n.d.). Retrieved October 8, 2021, from https://www.tesla.com/solarroof. 

The Disappeared Power Adapters, sustainability, developing more sustainable business, and creating conditions for a new era of sustainability

 Among the topics of unit 5, sustainability, developing more sustainable business, and creating conditions for a new era of sustainability, some of this week's reading focuses on how can we even modify or shape the demand. But, why should we do that? Companies see the need and supply the products or services are is not enough? Why should companies communicate with their customers to build and develop more sustainable businesses? Or, creating conditions for a new era of sustainability? 

The Disappeared Power Adapters

Now, you probably noticed that Apple has no longer freely provide power adapters for its iPhone buyers. Apple said, "As part of our efforts to reach our environmental goals, iPhone 13 Pro and iPhone 13 Pro Max do not include a power adapter or EarPods. Included in the box is a USB‑C to Lightning Cable that supports fast charging and is compatible with USB‑C power adapters and computer ports." Apple encourages consumers to re‑use their current USB‑A to Lightning cables, power adapters, and headphones, which are compatible with these iPhone models. Why does Apple do that? Should Apple worry about the angry of its customers since they will think it is an extra cost? Clearly, it is not as easy as just take away the adapters and say NO. 

In 2021, Apple has just been fined two million dollars by Procon-SP, Brazil's consumer protection organization, for failure to comply with local laws since the release of the iPhone 12. Apple chose to make this sudden cut globally in a claim that withholding the adapters would save the Earth from 3 million metric tons of carbon emissions every year. Procon-SP also questioned Apple if it was indeed compensating with a lower unit price. The Procon-SP said, it is inconsistent to sell the device unaccompanied by the charger, without reviewing the value of the product, and without presenting a plan for collecting old devices, recycling. Apple claims that there are more than two billion adapters produced already and that most people have their own which they can use. 

However, the $2M penalty from Brazil doesn't only come for missing power adapters. Apple has been accused of false advertising because, since the 11 series, iPhone owners have been refused repair services for phones which seems to contradict their claim.

In conclusion, I think Apple should improve communications with its consumers and reshape consumer demand. Showing the carbon footprint, and explains the carbon footprint or environmental impact of Apple's operations does not mean consumers will understand and accept it. To earn the trust of consumers is not easy. I think Apple can provide some reciprocity projects or consistent reward programs to do it better. 

Reference

HT Tech, & HT Tech. (2021, March 21). Brazil regulator fines Apple nearly $2 million for not bundling charger with iPhone 12. HT Tech. Retrieved October 4, 2021, from https://tech.hindustantimes.com/tech/news/brazil-regulator-fines-apple-nearly-2-million-for-not-bundling-charger-with-iphone-12-71616299389169.html. 

The Sustainable Business and Socially Benefits

 Preface

Taiwan has relied on imports for 98% of its energy for decades and was highly dependent on fossil energy. Taiwan government has announced a goal to transfer at least 20% to renewable energy generation by 2025, expecting to achieve a safe and stable clean energy supply and demand system. In order to achieve this goal, the government decided to build offshore wind power as the major source and it is expected to provide 21.5 billion kWh per year. In addition to clean electricity, it can create a cumulative investment of approximately NT$1 trillion, around 20,000 jobs by 2025, and reduce carbon dioxide emission up to 11.92 million metric tons.

The Company

Ørsted A/S is the largest energy multinational company in Denmark. Its vision is to create a world that is completely operated by green energy. Ørsted A/S is committed to the development, construction, and operation of offshore wind power, land-based wind power, solar power plants, and provides clean energy products to customers. 

The Obstacles

Now, we have to take action to create a world that operates with green energy. It is an undebatable fact. Renewable energy is the key to a greener and cleaner future. Offshore wind power provides a more viable, efficient, and sustainable energy option to replace fossil fuels. We have to reduce the impact of climate change and offshore wind power can supply hundreds of millions of households in the future. However, there are several obstacles the company has to deal with.

i. COVID-19

The pandemic of COVID-19 has affected the supply chain of offshore wind power and slowed the development of offshore wind power resources. 2020 was expected to be a very critical year for Taiwan’s emerging offshore wind power industry. Many important offshore wind power developments will be complete this year. However, as COVID-19 was spreading, the supply chain and industrial production around the world were affected and the offshore wind power industry was no exception. 

ii. The Localization Policy

Taiwan's experience in offshore wind power is very limited and it almost entirely relies on foreign suppliers and workers. So, the offshore wind power professionals are largely from Europe. The government also intended to create new jobs while outsourcing the infrastructure. In addition, foster the local enterprises to join the industry to create a local supply chain.

iii. Shaping Consumer Attitudes in Taiwan

Why does Taiwan have the urgency to transfer the electricity system? Those infrastructures obviously cost a lot of money. Why the government must invest in this project? The taxpayers need an answer. 

The Sustainable Business and Socially Benefits

Although there are many obstacles, the company should try to find solutions and prepare a win-win strategy for both. For example, in the next seven years, it is expected that about 1,000 wind turbines will be built on the Taiwan Strait, which will drive investment of 962.5 billion NTD and over 18,000 new jobs. The annual power generation is 19.8 billion kWh, which supplies approximately 9% of Taiwan’s annual electricity consumption. It's also leading to the creation of an investment environment more favorable to sustainable business and generating new knowledge, skills, and mindsets for sustainable development.

Providing Incentives

Taiwanese government does not want to lose its control of the energy system since it is an extremely important infrastructure. Therefore, share the knowledge, skills, and the result with it and its people is an opportunity to earn trust. Start up a new company that registers in Taiwan and goes public can be helpful. Once the company is listed on TWSE(Taiwan Stock Exchange), many investors in Taiwan will be able to join the development and share the benefits.

Reference

關於離岸風電. Ørsted.tw - Love your home. (n.d.). Retrieved October 2, 2021, from https://orsted.tw/zh/about-offshore-wind. 

Redefining entrepreneur, and a new model for business: The social benefit enterprises

 This week, after I did some research and read the materials, I did redefining entrepreneur and unlocking more new models for business deep in my heart. For so many years, I have been wrong and trapping myself in a narrow concept of entrepreneur. Helping others does not mean you must sacrifice something. There are so many ways we can do both. We can use different solutions to solve the same math question. Although the answer is the same, the processes are different. That makes me think of an organization that also serves for social and public goals, Wikipedia. 

Wikipedia is a global multilingual encyclopedia collaborative writing project. The well-known feature of Wikipedia is that anyone can edit the content of Wikipedia at any time anywhere with an internet connection. It is also a web-native encyclopedia that is managed, edited, and its content is published and accessed entirely through Internet technology. Wikipedia was established in 2001 and is maintained and operated by the non-profit organization Wikimedia Foundation. The supporters believe that the good cooperation of mankind will improve the content of the encyclopedia. The group of Wikipedia management communities is composed of volunteers for management, control, and maintenance. They standardize, manage and review content quality, remove or block malicious users. 

Another example is a clothing recycle program. Uniqlo Co., Ltd.(株式会社ユニクロ) is a Japanese casual wear designer, manufacturer, and retailer. UNIQLO in Taiwan, promoted the "Clothes Recycling and Donation Charity Action" in 2014. With the love and sharing from the public, the recycled UNIQLO second-hand clothing will be donated to disadvantaged families, elders living alone, rural school children, and homeless people in Taiwan. This program aims to turn the discarded clothes into love. UNIQLO Taiwan encourages its customers to send UNIQLO clothing that is in good condition and no longer needed, donate to all stores in Taiwan for recycling. Together to send warmth to all corners of Taiwan.

Finally, a question I would like to ask. What would the world look like if there are no social enterprises like Wikipedia or others? What if all organizations and companies only care about maximizing profits? I think it would be absolutely a terrible thing. Now, I know why we need so many social enterprises. 

Reference

Wikimedia Foundation. (n.d.). Retrieved September 26, 2021, from https://wikimediafoundation.org/. 

Wikimedia Foundation. (2021, September 22). Uniqlo. Wikipedia. Retrieved September 26, 2021, from https://en.wikipedia.org/wiki/Uniqlo. 

Social business enterprises

 Preface

Most businesses provide products or services that are helpful to people. The free market economy is guided by a free price system, the mechanism of demand and supply. And, we often limit ourselves to a narrow definition of an entrepreneur, "a person who attempts to make a profit by starting a company and taking the risks." We only take the word "profit" because we love money and make it become the only reason why we are doing or start our businesses. And then, we do all our best to maximize it. However, social business enterprises are not the same. From the beginning, maximizing profits is the only thing it cares about. The Prisoner's Dilemma is also a great example here to illustrate the key point. If you only care about yourself, your options will be limited. But, if you can see a thing through a comprehensive view, as a chess player, you will not be limited within the view of each piece. Zoom in, you only see the roads and their names on the map, zoom out, you will see the whole map. 

What Is a Social Enterprise?

A social enterprise is a business that has specific social objectives that serve its primary purpose. Social enterprises seek to maximize profits while maximizing benefits to society, the environment, and are principally used to fund social programs. Social enterprises seek to balance activities that provide financial benefits with social goals, such as providing housing or food to poor families. Earning profits is not the primary motivation behind a social enterprise. Therefore, the revenues they generate are principally for the sustainability of the venture. 

What Are The Differences?

i. The Goals and Objectives

Social enterprises seek to balance activities that provide financial benefits with social goals rather than only maximizing profit by supplying products and services to satisfy demands. 

ii. Where The Profits Go

Social enterprises can also be profitable, but most of them go to reinvest profits into their social mission, rather than fund payouts to shareholders. As mentioned before, the revenues they generate are principally for the sustainability of the venture. By doing this, they can keep their steps on the way to achieve their goals.

iii. Their Employees

Most social enterprises seek to provide a reasonable living wage such as above the minimum wage. In addition, employees of social enterprises are priority given to those who are from at-risk sections of the community.

iv. The Purpose

Social entrepreneurs seek innovative ways to fulfill a business purpose and solve societal needs through their commercial activities. For example, a company that recently filed for IPO, Warby Parker is an American eyeglass retailer that donates a pair of glasses to someone in need for every pair sold. 

Reference

Barone, A. (2021, May 19). The aims of social enterprises. Investopedia. Retrieved September 24, 2021, from https://www.investopedia.com/terms/s/social-enterprise.asp.