Week 5: Clear on Presentations

Graphic Sources:
Flickr user: copperfeesh
Public Domain images

Presentation © Sarah Reyes

Week 4: Clear on Resource-Based View

In order for a company to retain a competitive advantage, its exploitable resources must have these four requirements:

Value

The company must devise a way to create value in their products or service, or else consumers will not make the purchase. This can be created by strategic marketing, such as establishing a strong brand image or even paying close attention to price--too low, and products are perceived as low value, too high and you could damage your sales. The right price constitutes the proper flow of customers, while maintaining value in the product or service.

Rarity

A resource must be rare, or else it will add no value to your company. Take for example a gallon of milk, which can be purchased at drugstores, small shops, and large retailers alike. The resource itself adds no competitive advantage, and therefore retailers must rely on pricing to get the product moving. There is no such thing as customer loyalty when your product does not have some level of rarity. 

Imperfectly Imitable 

Resources must be difficult to copy. Luxury items are a perfect example of this. The prestige of owning a certain car or brand creates a niche of consumers dedicated to that particular item. A Lamborghini cannot be replicated.

Non-Substitution

As discussed in the lecture, Miracle Whip is no substitute for Mayo. For those perhaps familiar with the hazelnut, chocolaty spread Nutella, you know there is no such thing as a substitute. Since customers cannot buy a similar product, there is no such thing as competition from a rival with the exact product.

Graphic Source: Flickr user c.a.muller

Week 3: Clear on Network Topology

Local area networks (LANs) come in a variety of different shapes, each having their own unique advantages and disadvantages:

Bus Topology 

All nodes are connected to a single cable, or bus. This is an easy and inexpensive set up. However, if there is any type of connection issue, the entire network is down which also makes it difficult to pinpoint the source of the problem. 

Token Ring 

All nodes are connected as a giant ring which has no beginning or end. A token of code is then passed from neighbor to neighbor in an endless cycle, until it reaches the node it was intended for.

Star Topology 

All nodes are connected to a single, central point, which can be a hub, switch, or router. There are no disruptions to the network if one node shuts down or is added. If the central hub is disabled, however, the connected nodes are all off the network.

For more examples on network topology, visit http://fcit.usf.edu/network/chap5/chap5.htm

Graphics: © Sarah Reyes 2011

Week 2: Clear on Binary

Binary code has always been a bundled mass of 0's and 1's, capable of making a cool wallpaper background or a texture layer on Photoshop. Today, i can tell you that 0 1 10 11 100 101 110 111 1000 1001 are numbers 0-9 in binary code, and they are far more significant than geekery eye candy.

Just as the number 1,234 has a 4 in the ones place (10^0), a 3 in the tens place (10^1), a 2 in the hundreds place (10^2), and a 1 in the thousands place (10^3), binary code also follows its own established powers place, using the power of 2 instead of 10. So the sequence becomes 2^0, 2^1, 2^2, 2^3 and so forth, resulting in the place values of 1, 2, 4, 8, equivalent to the familiar ones, tens, hundreds, thousands place values.

			16s	8s	4s	2s	1s
			0	0	1	1	0

The binary code above, for example, reads the number 6. This comes from the addition of the place values of 2 and 4 where the 1's have been placed.


Computers use the binary language for multiple applications, assigning numerical values to things such as pixel color, symbols, and storage capacity. For a complete look at the binary system, visit www.ludism.org/mentat/BinaryNumbersSystem

Graphic source: Flickr user LaMenta3; found here.

Week 1: Clear on Importance of Social Media

From the curious days of MySpace to the rise of the social media giant Facebook, its clear that the phenomenon of two-way online communication is here to stay.  Whereas MySpace began as a fun way to keep up with friends and listen to music for the teenage generation, social media has grown through sites like Facebook, Twitter and LinkedIn to a communication medium critical for growing businesses.

Customers now make or break a company through word-of-mouth online. If a product or service is well-received, positive word-of-mouth encourages friends and family to try it as well, and also improves the company's reputation. Likewise, a negative experience will be just as visible to countless others. But unlike traditional customer complaints, social media gives businesses the opportunity to publicly rectify the situation whether with an apology, clarification, or other means such as an offer to exchange or a discount. While no business goes without an unhappy customer or two, most consumers appreciate the action and often reassures them that they have a chance to voice their opinions to a company who is willing to listen. A business who interacts with their consumers online will reap the benefits of transparency, consumer insight, customer service, top-of-mind benefits, and free advertising.

Graphic Source: flickr user liako