How companies are seeking new ways to influence consumers in an increasingly competitive global economy?

Companies leverage on the social sciences such as anthropology and sociology to delve deeply into the socio-cultural contexts that shape consumers’ lives.

Ethnography – branch of anthropology where researchers study how different people from different cultures perceive their world

  • adopting perspective of someone in that society and observing the society through their lens
  • consumers’ cultural mindsets and lifestyle habits
  • deeper understanding of what a particular product means to a consumer
  • corporations can develop their products to better suit their consumers
    • eg. Adidas lightweight football boot (for speed), Absolut Vodka (colourful redesign to mirror the stories of joy and celebration), Samsung Frame TV (to fit within aesthetic of homes. looks like a picture frame and defaults to displaying a picture of a painting when it is not being used)

Manipulation of scientific research to influence consumer perceptions

  • Eg. Mars Inc tells us dark chocolate is good for our health. Coca-cola company says exercise is the most important actor in weight loss, trumping even what we eat.

 

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Disruptive Technology

Technology and the improvement of quality of life, comfort and lifestyle.

How corporations are leveraging technology and innovation to create consumer markets of the future?

  • Billionaire space race, led by personalities such as Jeff Bezos, Paul Allen, Elon Musk and others, is fuelling the space’s industry’s current valuation at US$350bn, a figure that is estimated to grow to more than US$1.1tn by 2040.
    • Musk’s SpaceX could eventually enable suborbital flights that would cut travel time between New York and Shanghai from 18 hours to 30 minutes
    • Significantly disrupt business of traditional airlines by providing an incredibly time-efficient travel option
    • Musk’s grand ambition to bring people onto Mars “for the good of mankind”
  • Uber and Airbnb leveraged mobile phone and location services to forever change transportation and accommodation with business models that did not require car nor property ownership
    • Gig economy, a spin-off freelance-style job market created by “Uberisation”
      • Supplement source of income
      • Flexibility
  • Technology may enable disruption and create new industries, but it cannot itself guarantee stable employment nor humane conditions of labour.
  • Social needs are just as important as economic value.
    • In 2016, US$2.8bn poured into space industry start-ups to fuel the search for a viable product
    • Could have been spent on solving present issues
  • Only 3% of companies on the Fortune 500 are considered “social innovators”, where social impact is embedded in their processes and business offerings
    • there is a need to promote more socially-conscious business strategies and objectives
      • Eg Bethnal Green Ventures, a business accelerator that aims to advance tech-based solutions for social good
      • invested in 79 startups in areas such as education, health, and sustainable growth, all while turning a profit of 2m pounds in just five years
      • estimated 18m lives have benefited from these startups
    • does not mean businesses have to give up all profit, for in the end, business models have to be sustainable for them to be helpful.

Taking up citizenship a two-way process: PM Lee

https://www.straitstimes.com/singapore/taking-up-citizenship-a-two-way-process-pm-lee

– Citizenship ceremonies, held every three months or so in GRCs across the island, aim to foster a deeper sense of belonging among new citizens.

–Β Highlighting that the Republic’s history and success were built on the backs of immigrants from near and far – people who worked hard for a living and decided to make this place home – he said new citizens’ stories will add to Singapore’s.

– Urge new citizens in GRC to be active citizens and involved in their communities

Old is gold for these buyers of ageing HDB flats

https://www.straitstimes.com/singapore/old-is-gold-for-these-buyers-of-ageing-hdb-flats

National Day Rally 2018 – Owners of old HDB flats can vote to let Govt buy back flats early, get new ones with proceeds

Voluntary Early Redevelopment Scheme (Vers)Β 

  • Owners in flats aged 70 years and older can vote for the Government to buy back their homes before their leases run out, if their precinct is selected

Selective En bloc Redevelopment Scheme (Sers)

  • Government takes back old flats, offers generous compensation, and builds new ones with higher density

– While the authorities said last month that they were looking at how to let buyers of shorter-lease flats use more of their CPF funds while ensuring enough retirement savings, under the current rules, no CPF money can be used if a flat’s remaining lease is less than 30 years.

– Over last 16 months, flats with 60 years or less left on their leases formed a larger proportion of resale transactions than in the same duration before March last year.

  • From April 2017 to July 2018, they formed 14 per cent of transactions, up from 8 per cent between November 2015 and February 2017.

 

Female leaders, organisational power and sex segregation

http://journals.sagepub.com.libproxy.smu.edu.sg/doi/10.1177/0002716211421868

by Kevin Stainback, Soyoung Kwon

– Increasing women’s access to decision-making roles may be a crucial factor in alleviating gender inequalities among subordinates.

– Three discrimination processes:

  1. Allocative discrimination – sorting of men and women into jobs of different quality
  2. Within-job discrimination – women receiving fewer pecuniary (monetary) benefits than men working in the same job and workplace
  3. Valuative discrimination – work performed by women receiving less compensation than work performed by men net of necessary education and skill requirements

– Over representation of men in positions of organization power may reproduce unequal opportunities between female and male subordinates.

– To make a change, women in leadership roles must have the “motivation and power” to help female subordinates. Some benefits:

  • In-group preference in hiring, promotion, and wage-setting decisions
  • Increased access to career-enhancing social networks and mentoring opportunities
  • Declines in gender stereotyping with increases in women’s representation in higher-level positions

– Females in managerial and supervisory roles may have an effect on reducing the male-female wage gap (supported by studies)

– Female leaders’ may fear of being seen as sympathetic to women or not being a team player. They may seek to distance themselves from female subordinates and issues closely related to female subordinates such as work-family and equal employment opportunity.

– Female managers’ ability to lessen gender inequality for female subordinates may be constrained by the larger cultural system of gender.

 

27/5/18 Atlas Coffeehouse, Artbox part 2

Sunday 27 May

I met Andrea for the first time this year!!!!!! πŸ˜€ Also our first time dining at Atlas Coffeehouse.

I got Atlas Superbowl. There was quinoa, corn, chicken, brinjal, shimeiji mushroom, sundried tomatoes, the crispy green seaweed-like or kale thing.

My coffee hehe i think they are known for their coffee so i wanted to try it out. Was good!

Andrea’s chicken stew, looked and tasted rly yummy.

Andrea’s iced coffee. Even she didn’t take photo of her own food HAHAHAHA. Spend so much might as well document the food lah!

Lol

I spent $24.10? To be exact LOL

Afterwards I dragged Andrea to Artbox ‘cos she never visited before and i reckoned this would be her first and last time anyway hahaahah. We got bored rly quickly though, but i bought a nice tote bag for $10! πŸ˜€

Daniel came afterwards and feasted and walked around somemore before leaving.

Some ebi burger thingy

Okinawa milk tea

Haha!

We also took some really nice photos!! πŸ˜€ Prolly one of the perks of coming in the day rather than at night.

Andrea left for a choir concert while Daniel and i headed back to his house to pick up his book-in stuffs. Went to my house for dinner and Alistair was there! πŸ˜€ But rly thank you Daniel for having dinner with my fam although you had to Toa payoh -> Jurong -> Pasir ris.

Also thanks Andrea for spending time with me today!!!! Thanks for being such a constant in my life, and someone whom i don’t meet frequently yet text non-stop since 2013 :’)

And also thanks for the birthday gift!!!!! I rly like it ‘cos just nice i was wanting to get a lip pencil/crayon sort of thingy. I will use it very often! πŸ˜€

26/5/18 Artbox part 1

Saturday 26 May
Long-winded post ahead but i hope it is not too boring haha!

Had lunch with Daniel at JEM, Pastamania! $5 per pasta ‘cos we paid via grabpay :’) I got seafood aglio!

Shopped a bit at TEMT, then Daniel had to go. He booked out in the morning so he travelled Pasir Ris -> Toa Payoh (Home) -> JEM to find me -> Cityhallto find his dad. Sigh pie i feel bad but at least we got to eat lunch together. Thank youuuuuu

I went Jcube to disturb my mum and also bought some stuffs from Daiso, before Ling came to pick me and we went Taman jurong to pick Weiliang from church. I followed my sis for fun ‘cos i just wanted to take the car HAHAHHA.

Anyway it gave me a chance to drive quite a bit!!!!!!! Like after Taman jurong i drove to pick my mum at Jcube, before driving home. Nua-ed at home, then i drove again to drop Weiliang at Bukit batok and myself at Bukit panjang πŸ˜€

Ate at TANUKI RAW with Kaixin and Wenyi, I got Salmon kaisen πŸ˜€

Playing with food lol his masterpiece

Headed to Artbox afterwards ‘cos Kaixin wanted to…. My first time too! πŸ˜€ We didn’t stay very long though ‘cos Wenyi couldn’t stay too late.

We got thai milktea and truffle fries.

We then took a bus home together since all of us live so near one another, primary school friends perks… (although i had to change bus la but that’s not the point) Kaixin waited with me for my bus before he walked home. Was rly nice catching up with you guys πŸ˜€ See yall soon!!!!!!!!!