Overall, I thought that the IB retreat was a great experience. It not only helped clear up some questions I had about the DP, but it also gave me some time to bond with people I don’t usually talk to and was a g […]
a) Outline the role of 1 WOK in 1 AOK in the production of knowledge.
b) Knowing that WOKs are double-edged swords
(they are sources of knowledge and are fallible)
The ways of knowledge and the areas of […]
Everyone is entitled to his own beliefs, but not to his own facts. Do you agree?
I agree that everyone is entitled to his own beliefs. Everyone has their own opinions and own perspectives on certain things and […]
In what ways might it be reasonable to suggest that people who disagree can both be right? Is this true in all cases?
It may depend on the situation of the disagreement as two people may disagree with logics […]
How did you become more aware of your own strengths and areas for growth?
This year particularly, I felt that I wasn’t as involved within our society as I should be and that I should give something back to our […]
As the editor of the documentary, I had a huge responsibility in gathering all footage, pictures and information and creating a professional, entertaining and information filled documentary. I felt that my role in […]
During our trip to Fiji, I hope to learn more about global citizenship and cultural importance. In addition, we will be encountering Fiji’s rich cultural heritage, becoming more sensitive to the environmental […]
Summary of Changes:
The main changes I made to this prototype is the size of the cone. In my previous design, the diameter of the base and the top was very similar which is probably what caused the […]
I feel like one of the most important events in the 20th Century would be the Great Depression. This event started in the 1930s and was the largest economic disaster in North America, Europe, and other […]
1) What influences supply & demand in a market?
The price related determinants and also non-price determinants influences supply and demand in a market. Price related determinants are when the price of […]
1) Why do businesses expand globally?
One of the reasons why businesses expand globally is not only because you will increase the number of potential consumers of your product or service, but also because you can introduce your business to other cultures. By doing this, more people around the world will find out about the business and start to introduce others as well. Therefore gaining more profit.
2) How can we analyse a market’s suitability for expansion?
We can analyse this by using the PEST analysis. By using this analysis, we can clearly see the opportunities and threats a market may have due to the political, environmental, socio-cultural, technological etc. factors. For example, if you were to open a Tim Hortons coffee business in HK, looking at the socio-cultural sides, it would be a great idea as there are around 300 000 Canadians living in Hong Kong right now and they can introduce them to the well known Canadian franchise.
3) How does one determine if an action is ethical?
They can determine the action based on their intentions. Figure out why the action should be taken and consider any negatives but also positives to the action. The most important thing would be to see how it affects others in your community but maybe also globally.
4) To what extent do businesses behave ethically?
Firstly, the businesses choices has to be legal. Also, it should follow any regulations, rules, and policies that might restrict your choices. Other than all the legal rules, you should think about how the action may affect others. If the action is ethical, it should not affect others in a negative way, but rather with respect, friendly competition, and are honest with no deceiving. This is important because it means you are being fair, shows people that you are open-minded and also creates a good reputation for the business. In addition to that, some unethical actions would be actions such as being harmful to the environment, not being fair to the employees such as not paying the amount they deserve, and also copying people’s ideas. For example, people would use cheap materials that are harmful to the environment just to gain more profit.
5) To what extent does globalization create opportunities for business?
Globalization creates opportunities for businesses as it provides them a larger selling audience, therefore more people will buy their products and increase their profit if successful. The larger selling audience also helps them become more well known around the world. For example, if an American brand comes to HK and becomes successful, it is most likely that Asia, japan, Singapore etc. will soon hear about the news. However as globalization happens so fast sometimes, businesses may find it hard to catch up with the current trends and satisfy the needs and wants of the customers. For example as Hong Kong is such a fast moving and developing location, coffee shops and clothing stores may need to keep on thinking of new creative ideas to keep their consumers interested. If the consumers are not interested and they get bored, no profit will be gained.
A vote is like a rifle: its usefulness depends upon the character of the user. -Theodore Roosevelt
I love this quote mainly because it uses symbolism very well, and the object is not a random object, but it […]
We have recently been studying entrepreneurship in business class, here are some questions of inquiry 🙂
1) What creates opportunities for entrepreneurs to start a business?
Entrepreneurs often research the markets and identify a need which creates a business to fill it. Our society’s problems and needs are what drives entrepreneurs to start a business. They can not only feel great about how they are helping people, but they are gaining money in the process too.
2) How do entrepreneurs respond to the needs & wants of society?
Entrepreneurs respond to the needs and wants of our society by seeking services and products that are currently available and tries to think of ideas to create something new or make things better. They risk their money and people’s money to produce something that can be sold at a profit.
3) Why do individuals become entrepreneurs?
Individuals become entrepreneurs because they usually have optimistic personalities and are future oriented. They believe that success is always possible and are willing to risk their money to help people. Also, I believe that people like jobs where they actually love what they are doing, especially when it comes to helping people. In addition to that, being an entrepreneur means that you are the leader of everything. You not only won’t get fired, but you get to choose who you work with.
4) What drives innovation?
I think innovation is very important in our society. People love new interesting things so we go ahead and use our knowledge we have already and create something better to not only gain money, but to help and meet the needs and wants of our society.
5) Are the traits that are needed to be successful as an entrepreneur always the same?
I believe that all successful entrepreneurs have similar traits. For example, they need to self-assurance, creativity, perseverance, and most importantly passion for what they love to do and not giving up after a failure. To be successful, you can’t just give up or not doing anything after a failure because you will never be able to grow and will have a smaller chance of becoming successful with so much fear. Therefore, an entrepreneur probably has similar traits and personalities depending on their passion for what they love to do.
From May 12th to May 16th, I went on a CAS week trip to YangShuo. During this CAS week, we experienced a lot of adventurous activities such as, rock climbing, hiking, biking, and caving. I personally enjoyed […]
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