Economic

It has been a while not updated my blog..........I know...just been busy...haha, an excuse that everyone always use. I guess been busy is a good thing though, which means the economic is getting better, isn't it? So, let's talk about econoice!

The economy of Asia (52 countries) consists of >4 billion people (about 60% of the whole world population).

The wealth margin of Asia differs widely between countries and this phenomena is due to its vast size, cultures, environments, and government systems and administration.

Japan, China, India, South Korea, Indonesia and Iran is the largest economies in Asia in terms of GDP .

But, in terms of GDP by purchasing power parity (PPP), China is currently the largest economy in Asia and the second largest economy in the world. Japan falled behind China.

East Asian & South East Asian's economic growth rely much on industrial manufacturing and trading.

Middle East depend more on the production of commodities, principally oil, for economic growth.

With the overwhelming rapid economic growth and large trade surplus with the rest of the continent, Asia has accumulated over US$4 trillion of foreign exchange reserves - more than half of the world's total.

From what I see, one thing i am happy about is that I speak Chinese!! YA!!

Organizational behavior

It seems easy to understand how to be a good leader and in what way we can make the organization to be a better one by just reading a book, however, it is totally out of control when it comes to real life sometimes. We all know the theory, but how to make it happen is another story. My boss always told me that working experience is much valuable because a lot of time, a theory doesn't apply to real life. Also, the result may be various depending on cultural diversity.

But reading the book actually give me some ideas of what an organization should pay attention to and focus on to make everyone a better performance.

Today's class

It's been a long day!!
For some reason, the atmosphere today was not quite right..maybe it was a little bit stuffy in the room. Everyone looked just not as active as the previous class.

The lecture today covered a lot, maybe too much information in too little time into my too small brain. I think I did not even digest 50% of it. Maybe it's the trad off of having only one class every two weeks.
Even though I did not get the whole thing today, I glad I came to the class because I did learn a lot today, at least know something new.

I heard that MBA is for people who have working experience at least two years. I don't know the reason until I really take MBA class. For most of the lecture, it relates to our market environment and the business relationship which for a just graduated student is totally unknowledgeable. I felt a little helpless while Dr. Tao was throwing a question and most of everyone can easily offer an answer. However, I felt myself really lucky because I can learn from those people who have professional working experience in different field.
Many people told me that I still have time because I am young. There are still many opportunities out there for me to try and learn. I believe one day, I will be as successful as everyone is. I am looking forward to it!!

Marking Strategy 1. Consumer Analysis

I will implement what I have learned from this chapter into my future business plan, which is a web/graphic design studio.

Seven-Part Process of Marketing Strategy

1. Consumer Analysis

2. Market Analysis

3. Review of the competition and Self

4. Review of the Distribution Channels

5. Development of a “Preliminary” Marketing Mix

6. Evaluation of the Economics

7. Revision and Extension of Steps 1-6 until a consistent plan emerges

Consumer Analysis

What is the need category? Who needs us and why?

Every business needs packaging design and a website to promote their product.

Because:

1. Consumers buy a product a lot of time because of its graphic design better than its function.

2. Consumers willing to pay more on a better looking product.

3. Consumers now search the web for business instead of looking through yellow page.

4. Consumers spend more time searching and comparing a product on the Internet before they leave home to buy.

Is the product a high- or low-involvement product?

I will consider doing a graphic/website design a low-involvement product because it is not really necessary to the product, but! I believe it will help the business somehow, at least it helps catching consumer’s attention at the beginning.

Do I intend to segment the market? Why? How?

Geographic - Bay area (locally serve)

Demographic - 35-60 years old, own personal business, Asian business owner

Psychographic- People who exposed to Internet more often, or more aggressive on advertisement.

Behavioral- going to own a business, or a business owner who has no branding system and a website yet.

My ethical challenge

For a start up company, every spending has to be critical.
For myself, who want to own a design studio, using design programs such as Adobe products will be a must. However, every design program would cost more than I can afford.
So, my ethical challenge will be "copyright."

Nowadays, free downloading is readily available along with the Internet penetration. Less and less people buy CD album at the store because they can download the whole album on the Internet for free. I will definitely face the same situation that my design work might be copied once I put it on public.

One hand I want to keep the cost down, another hand I want my work get payed.
How do I make it work? hard hard hard......

Accounting.......so hard

Oh My God!! Accounting is just not my thing...
It is one of the category that I have never thought about getting to know it.
I am just not a huge fan of putting money in order. (not only in money though XD)
For me, it will be a trouble to do all the counting and documenting.
The God gives everyone at least one talent, I guess "Accounting" is not the one I would get.

However, if I want to own a business, accounting is definitely a field that I have to cross.
So, there we go!! Here is what I have learned today:



Main Financial Statement

1. Balance Sheet:

• Assets, liabilities and ownership equity are listed as of a specific date.
• The only statement which applies to a single point in time.
• A formula : Amount of assets = total liabilities + total amount of shareholder's equity.
• To perform a company's operating conditions

2. Income Statement:

• Show the company made or lost money during the period being reported.

3. Cash Flow Statement:

• Displayed in the specified period (usually one month season. Is mainly one-year annual reports) of cash inflows and outflows of financial reports.
• Determine the company's short-term viability, especially the ability to pay bills.

Hoo.........I think it's enough for today!!

My business vision

I always enjoy graphic design and creative drawing. My dream job is to own a graphic design company that will help customers to design their company logo, product catalog, brochure, and business card. This idea can be further applied to different industries, such as restaurant menus and marketing websites.

Creating a good visual attraction is the first step to catch buyer’s attention, so I believe even in an economy down time, this type of business will sustain. With the convenient internet technology nowadays, my graphic designers can be recruited internationally to keep down the cost and they will be contracted on a project base. I will also recruit part time art school students to take a roll in the project since young people are most creative with their designing styles.

Every company will need some type of advertisement on their products whether if it’s a product catalog or a website, so I do see a good potential in this industry.