WEEK 1

Knut Bruntland says that one of the advantages of being as old is that he's seen alot, and knows what's important to talk about in today's world news that he shares with students like myself. The older the wiser, in most cases, I'd say.

Of an interesting note on the economic forefront was that a half point increase in interest rates in China led to a 151 point drop on the Toronto Stock Exchange. Who thought that a half-point increase in a far-away country like China could effect the markets so viciously? People better realize just how inter-connected our economy is with China, which has 20% of the world's population and is constantly growing. There is also the widespread fear of inflation if the Bank of Canada or the Federal Reserve in the US increase interest rates. Alot of people do not want a repeat of the last double-digit inflation period in the early '80s, which was the other worst recession besides the Great Depression and the collapse of '08. Inflation is simply something people should fear- when the world comes out of bad recessions with much governmental aid, inflation makes your money worth less than it was before, therefore virtually nullifying the point of saving in the first place.

On the technology forefront, Professor Brundtland was especially intrigued by the launch of the Amazon Kindle and the competition that has followed from Barnes and Noble and Google. There are industry experts according to Knut that believe this will be a paperless world in perhaps five to ten years. Thomson Reuters, one of the largest media companies in the world recently announced that they will no longer publish works in print, but rather electronically. Not only does this have incredible ramifications on the world in the sense that there is a constant increased need to educate those who are not already connected to the global online network, it could mean big things for the enviornment too. Forests continue to rapidly decline across the world which is the main primary source of paper. That logging industry our government continues to subsidize? It's out of pure neccessity, even if profits are no longer to be had due to the fact that in reality the paper sector of the logging industry is a declining business, and is mostly used from recycled goods nowadays. The world currently needs paper to function and mini-computers in the form of a reader like the Amazon Kindle make a paperless world possible as you'd bring your Kindle with you instead of your notes. For anyone in the publishing industry, it might be time to get out or find a new way to make a surplus.

Surplusses allow you to keep innovating and going forward in a highly competitive world while defecits force you to make cutbacks and as a result your organization will likely suffer in one way or another. It's interesting to note that in times of economic turmoil like we are in now, a lot of companies choose to cutback essential things that made them the profits in the first place, further sending them down a topsy-turvy road that can eventually end up in bankruptcy. From the end of the last decade to this decade, the top ten companies in Canada changed dramatically. It just proves that those who continue to innovate continue to lead the charge into this next decade.

JOURNAL OUTLINE

Every week until April 6th, there will be a weekly journal entry for 15% of my grade.

CRITERIA:
1) What did we talk about?
2) Summarize the Week
3) Why is it important?
4) To What Degree Does It Have an Impact on the Conduct of BUSINESS

10 PAGES BY THE END OF THE SEMESTER.