1. An e-business is also known as an electronic or internet business, where they process orders, handle customer service, and cooperate with other business partners online.
2. Some pros of having an e-business include lower start up costs because of a lack of physical store. Also, because your business is online, international customers can access your business as well. Your business will also be running 24/7 and you can work at home, which can save your expenses for commute and transportation. Some cons of having an e-business include not being able to see your customers physically, and thus not knowing what your market is. You will also need to maintain your site and its security, and keep up to date with all the latest online frauds and scams.
Thursday, May 12, 2011
Monday, May 9, 2011
Minimum Wage
1. The current minimum wage is $8.75.
2. With a higher minimum wage, we should have a lower poverty rate, because the people who are working at minimum wage will now have a higher income at their disposal. The cancellation of the training wage will help as well.
As for the employer, a higher minimum wage means that it is more expensive to hire more workers. This means there will be less jobs and competition will rise. The unemployment rate may rise as well. Also, because you will have higher expenses, employers will have to counteract this somehow. For example, they may increase the prices of their services or products.
2. With a higher minimum wage, we should have a lower poverty rate, because the people who are working at minimum wage will now have a higher income at their disposal. The cancellation of the training wage will help as well.
As for the employer, a higher minimum wage means that it is more expensive to hire more workers. This means there will be less jobs and competition will rise. The unemployment rate may rise as well. Also, because you will have higher expenses, employers will have to counteract this somehow. For example, they may increase the prices of their services or products.
Wednesday, May 4, 2011
19 Year-Old Entrepreneur
a) Brian Wong is a 19 year-old graduate from UBC and he has recently started his second company startup. "Kiip" offers real rewards for people who reach milestones in games on mobile devices. When players reach certain milestones, its a "buzz kill" because the reward is just a banner ad. Kiip aims to fill the void by handing out rewards, with the value tied to the calibre of the achievement. Rewards range from gift certificates for flowers, to vitamin water, to a Sony tablet. The rewards are only available to players in the United States for now, but Canada will soon follow.
b) The reason for the increasing success of younger entrepreneurs in technology related industries is because technology is developing at such a fast pace, and because younger people are being exposed to this technology earlier and earlier. For example, according to this article in 2009 http://www.phonearena.com/news/Kids-receive-first-phone-at-the-average-age-of-8_id4154, kids received their first phone at the average age of 8.
b) The reason for the increasing success of younger entrepreneurs in technology related industries is because technology is developing at such a fast pace, and because younger people are being exposed to this technology earlier and earlier. For example, according to this article in 2009 http://www.phonearena.com/news/Kids-receive-first-phone-at-the-average-age-of-8_id4154, kids received their first phone at the average age of 8.
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