Bloomberg Businessweek Report

Bloomberg Businessweek Report

Name:  Dhairya Patel         Date:  April 10, 2012  

Headline: How much is a tweet worth?

Reporter or reporters: Drake Bennett

Date article was published or posted: April 10, 2012

Respond to the Reading

1. What did you learn from the article?

I learned that each tweet makes twitter approximately one tenth of cent. I was unaware of this until I read this article and I found this to be extremely remarkable.

Recall the Facts

2. Who or what are the main subjects of the story?

The main subject of this story is how much money social networking companies make off singular posts and user accounts for every consumer that signs up.

3. What businesses or industries are discussed in the story?

Social networking companies such as Twitter, Facebook, Tumbler, Myspace etc.

Think Critically

4. What types of businesses might be interested or affected by the story's outcome? Why?

Users of the social networking sites would be interested in the article as well as companies that use the social networking sites for advertising. This article provides information to other companies about the prices that their competitors are charging.

5. If you were to write a follow-up story to this article, what questions would you ask?

I would ask what kind of total profit different social networking companies made as well as the expenses they put back into the functioning of the website.
Business Vocabulary

Compile a list of business terms that are used in the article. Using a dictionary or the Internet, write down the terms' definitions in the space provided. (Use additional paper if necessary.)

Business Term Definition
companies A commercial Business
calculations A mathematical determination of the size or number of something
valuations An estimation of something's worth
revenue A measure of income to a company
commodities A raw material or primary agricultural product

Career Exploration

Choose one career that is described in the article. For that career, list what skills are required and which classes in school can help you develop them.

Career Skills Required Classes
Mathematics Math
Problem solving Math
Thinking out of the box Entrepreneurship
Calculating revenue Accounting
Communication English

FAILLLL Product

By: Dhairya Patel & Jacob Morrison (Partners)

Product Name: Warm-Hot

Product: This product looks similar to a refrigerator, however the usage will be completely opposite. Instead of keeping your food cold, Warm-Hot will keep your food warm or hot.

Price: $69.99-$499 depending on size and brand.

Promotion: TV commercials, Billboards. This product does not need to be promoted as much because it is developed to be a normal household item which everyone citizen would be aware of.

Place (Distribution): Produced and distributed in Canada. Having a factory in Canada will reduce our distribution cost. Once revenue rolls in, we will develop our company world-wide.

Customers (Target Market): Women ages 30-60, University teenagers 18-30. Mostly women will use this product and teenager who live at campus or by themselves.

Competition: Microwave/Oven companies.

This product will certainly be unsuccessful in the Canadian market. Every household already has an oven and a microwave which can make their food warm anytime they want, therefore why would they bother purchasing our product. Also, most of the food products are either supposed to stay cold or remain at a room temperature. The lack of food items that require a hot temperature reduce the usage of our product. In conclusion, this product is very lame and will be the biggest fail of the year that it's introduced in.

Best & Worst Inventions

Product: Swing Shift
Rating: Average
Middle 2

This product is very helpful for all the beginning level golf players. It provides assistance to improve the arc of your golf swing. Although the uses of this product are limited, people who play golf would definitely consider buying this product.

Product: Beerbrella
Rating: Average/Successful
Middle 2

Beerbrella provides shade for beer bottles and other beverages. This is an average invention, however it has potential to become a successful invention. During the summer time, abundant amount of people like to hang out around beaches, and drink a nice cold drink to cool off in the warm weather. And what can be better than an ice cold beer? Therefore, this product is lovely as it allows consumers to drink their beverages at a steady pace. It allows people to relax and drink an ice cold beverage. Although it is not one of the best inventions, it can still become successful.  

 
Product: Big Hair Hat
Rating: Fail
Bottom 2

According to me, this product is extremely silly, hence it will be a huge fail in the market. This product allows people with long hair to wear and cover up their head with a hat. The hat itself looks very old-fashioned. This product could not sell one bit in the modern fashion market unless the products develop more than just one style of hat. There, this product would not be successful, unless it is developed more. 

 

Product: Flood Bag
Rating: Fail
Bottom 2

I believe that the concept of this product is well thought of because it provides safety to human lives. However, this product has not yet been implied upon our vehicles which clearly states that it is a fail product. Actually, to an extent this product is completely useless because how often do we get floods in our city? Not very often. Therefore, the chances of you being trapped in an actual flood is slim.

Product: Flying Bike
Rating: Great Invention
Top 2

This product is very creative. Forget about the road traffic, and get ready for a wild ride with the flying bike. Flying bike allows you to ride your bike in the sky. This idea has the potential to be very successful because the world is working it's way to air traffic. There will be no cars on the road by 2050, they will be in the sky. And this product is one step closer to this vision. In conclusion, I feel that this product will be very popular. 

Product: Bino Cap
Rating: Good
Top 2

Well, not all but too many people this invention is great. Visitors, scientists, archaeologists, hikers, birdwatchers are some groups of people that use binoculars on a daily basis, and to be honest, it is a chore to hold binoculars. Therefore, this is a great invention that does not require you to hold the binoculars yourself, and provides you with shade from the sun at the same time. This product can definitely considered to be a successful one.  

Articles/Sources for Entrepreneurs

Article:

Google Glasses With Virtual And Augmented Reality

Source:

http://www.techpark.net/2012/02/29/google-glasses-with-virtual-and-augmented-reality/ 

Date: 

March 21, 2012

This article basically states a new product that is under development by Google. The new Google glasses will be a product that the world has never seen before. These glasses will demonstrate a combined features of virtual reality and augmented reality. As you turn your head, these glasses will demonstrate information such as: nearby objects, buildings, establishments via Google map, and entertainment. These glasses can also be bought with prescription. I truly believe that this object would change the way our world works. It is a very creative innovation and it is one of the better inventions made on Earth.

The trend is very technological and offers a pair of glasses that can pass as being called "smart glasses". These glasses help consumers become more informative about the things around them (Objects, buildings, entertainment).

This trend is changing the way our world works in several different ways, this object helps out people without a phone of a laptop. This object can basically work in the same manner as a GPS. However, these glasses would also provide consumers with accurate information while they are walking. According to me, this product will change the way our society works.

This product can create various opportunities for Entrepreneurs. Production and distribution of this product alone can create many jobs and many businesses. Furthermore, there will be more competition between companies that sell similar products which would also create more inventions in the future. There are also many other ways how this product is beneficial for Entrepreneurs.

As of now, there are not any Canadian companies that are taking advantage of this trend because it is a new product to the market and Google itself has not launched it yet.

I certainly feel that will trend will not fade away if the company keeps adding more and different designed glasses instead of just one. Google should also consider partnering up with brand name glasses company (Ray Ban, CK, Prada, Gucci) which would allow different kinds of products and would attract more customers. Other than that, this product is fabulous and has the potential to last a very long time.

Article 2


Article: The 50 Best Inventions of 2010, iPad

Source: http://www.time.com/time/specials/packages/article/0,28804,2029497_2030652_2029804,00.html

Date: 28/03/2012

This article describes the new Apple product, iPad. It states how Apple is out-smarting all the other companies in the industry with their outstanding inventions. It is safe to state that Apple is the best technology company in our market, and their new inventions will shake us all. The iPad is a mini-laptop/i-pod designed to be very consumer friendly and handy. 

The trend is a new gadget. This trend is changing the society significantly as this new invention has changed the idea of a modern day gadget. It has also managed to affect business is several ways. Due to the gigantic consumer base of this product, iPad has already managed to help the economy by selling numerous units. This helps our money rotate and economy running. This product can create an abundant amount of opportunities for Entrepreneurs. For example: the invention of iPad can allow Entrepreneurs to sell skins and other accessories for this product which can be a profiting business. This is just one of the examples of a business opportunity that this invention brings along with it.

Canadian companies such as Blackberry are taking advantages of this trend by invention smart phones and Playbooks. These gadgets are very identical and relate to each other in several ways. 

Without a doubt, this trend is here to last. This is a never ending trend as Entrepreneurs and Scientists will always come up with new technology that will always attract consumers. This world has become very technological, and therefore it is impossible for trends like these to fade away.

3. Sources for Entrepreneurs

a. http://www.techpark.net/ - This website gives you information on the latest technological trends. This is great because you can view the newest products in the market and get an idea of what sorts of inventions are being made. Example: Google Glasses


b. http://www.whowhatwear.com/website/home.php - This website shows the latest fashion trends which is great for Entrepreneurs in the fashion industry. It gives examples of many celebrities and new cool clothing. It is a good website to get an idea of new clothes in the market.

Here is my project about the Canadian entrepreneurs. I chose to do my project on Joe Mimran. Joe Mimran is the founder of Club Monaco, which is one of the largest clothing store franchise. Joe Mimran is an outstanding example of a successful Canadian entrepreneur.

http://prezi.com/o2nveluuouvl/joe-mimran/