Steve Jobs, CEO of the decade

I was reading an article in the most recent issue of Fortune magazine, where Steve Jobs was named the CEO of the decade and I would like to share it with you.

Steve Jobs is the CEO who revived Apple during the past 10 years. The financial results of his work are astounding: In 2000 the company was worth $5 billion and today it is worth about $170 billion. How he succeeded in doing that?

First of all he is an entrepreneur. He has commercial imagination and envisions products. He is come-up with products that enhance our everyday life- the iPod, iTunes, the iPhone.  According to Jobs we are now in the midst of the third age of computing, the age of “digital lifestyle”. In this stage of evolution, personal computers like iMac and MacBook connect and enhance a wide a range of products, from digital cameras to smart phones to MP3 players, all of which are redefining  the way we interact with TV, film and music, as well as each other.  He is obsessed with “what’s next” in products, although he would never rush to market a product that is not perfect.

People who work for him talk about his maniacal obsession to the smallest design detail. He has been labeled as the most hands-on CEO in America. His products must be functional and fast, but also must be beautiful. He is committed to both aesthetics and functional integrity. He is also extremely hardworking and demanding of himself and others. Many years ago, Jobs called the computer “bicycle of the mind”. Even now, as Apple releases products that expand our traditional notion of the computer, he continues to give us devices that complement and enhance our everyday life.

(Photo: Albert Watson)

Amazon.com ... and you're done

I came across a very interesting article in a previous issue of Business week, it is titled “How Amazon is turning opinions into gold”.

It basically talks about how Amazon was the first internet retailer to introduce product reviews and consumer ratings 15 years ago. No other retailer thought about letting consumers post reviews, since it was considered a retail suicide. Amazon changed consumer’s philosophy by embracing consumer’s views. Nowadays, 15 years later, almost every retail web site has reviews. Amazon has one of the largest collections of consumer’s opinions, which has made the site a magnet that attracts more consumers to its website.

It is impressive how an innovative idea like this changed consumer’s philosophy. Today it has become a habit to research the internet before consumers buy anything. 70% of Americans look at reviews and ratings before making a purchase. I thought every site had reviews, and that is the first thing I check when searching to buy something from the web, but it wasn’t until Amazon did it for first time!

Had anyone thought of that before?

MBA picnic

Saturday night...almost at the end of this week. I think it was tough for all of us, right? Two midterm exams, on Applied Microeconomic Theory and Managerial Accounting, without mentioning the other homework. But, finally we had the picnic at  "Chaney's Dairy Barn" today and everybody had fun!

I really needed to go out for a while and meet my colleagues outside the classroom! I enjoyed the ice cream and the people there. I had spent very little time with my family this week and our "batteries" were low. So, what a great chance to charge them while being with friends, eating ice cream and having fun outdoors. The weather was great by the way and the 1000 lb pumpkin was impressive (so was the 200 lb watermelon).


Have a great Sunday and...see you in class "mates" !!!

MBA students are really “motivated”

Fall break is almost over, it’s Sunday and I’m back after some time. I don’t know if I can really call it a “break”, since homework (assignments, cases, etc.) was almost doubled! That’s life, right? Business is a competitive environment and MBA students need to be prepared for difficulties!

I was reading the other day about Clyde Wagnon. Anybody heard of him? The tabloids were saying: “90-year-old Idaho man seeks MBA degree”, isn’t it amazing? He was working as a real estate agent and a mobile home salesman, but now he is interesting in finding a new career after graduating. He retired 25 years ago and has just decided that he doesn’t like it any more. He is something else!!!

If I ever live to be 90 I wish I’ll have his energy and passion for life!!!

Seize the day and save some money!

I am back, as I promised!

Reading an article in this week’s TIME magazine (09/21/2009, Vol.174, pp81), I realized that there are numerous extravagances due to prodigal administration. Probably it wouldn’t be a problem a few years ago, however nowadays, during recession, it is a necessity to slash budgets! This is what many Universities across the States thought and actually did, saving not hundreds but…thousands of dollars.

For example:
HARVARD UNIVERSITY is saving $900,000 (per year I suppose) by stopping serving weekday hot breakfasts at undergrad dorms

MASSACHUSETTS INSTITUTE OF TECHNOLOGY cut eight varsity sports teams, including the hand-pistol, alpine-skiing and wrestling teams, and saved $485,000

WESTERN WASHINGTON UNIVERSITY saved $485,000 by punting its 100-member football team

DICKINSON COLLEGE is saving $150,000 a year by dumping its free laundry service

UNIVERSITY OF COLORADO Will saves $122,000 by curtailing trash removal and window-washing

CONCORDIA COLLEGE Reduced food waste by 40% (environmental friendly too) when it ditched its cafeteria trays earlier this year

How about Western Kentucky University??? I am really curious to know.

You can find the full article in this week’s TIME issue or at the following link:
http://www.time.com/time/magazine/article/0,9171,1921613,00.html


It also reminded me of an article in the newspaper I read years ago, saying that airline companies saved millions of dollars by removing only one olive from each meal they served! Can you imagine that?

Let’s do the math: for example USAirways flies from JFK, Newark, Washigton DC, Chicago, Miami, Boston and Philadelphia to destinations in Europe (London, Munich, Frankfurt, Paris, Amsterdam, Milan, Athens, and Istanbul). Assuming 30 one-way trips (USAirways might not fly from every US airport to every European airport I mentioned above), the round trips would be 30*2=60. The average number of passengers per plane could be 150 (probably more). What do we have so far? 60*150=9000 passengers daily flying ONLY to Europe!!! And 365*9000=3.3 million per year. How about saving 3.3 million olives every year only from European destinations? Add the trips to and from South America, Asia, Australia and Africa; an enormous amount of money!!!

Seize the day and save some money!
Michael

First post!

Hi everybody!!!

I am Michail Trivizadakis but everybody calls me Michael (you can choose Mihalis - the Greek version). This is my first blog ever! We have met in one of our classes and probably talked with some of you, so let me introduce myself to the rest of the “gang”.

I am a Chemical Engineer with a PhD in Chemical Engineering and specifically in Trickle Bed Reactors (multiphase flows). Before moving to Bowling Green KY I was working as a researcher (post-doctoral fellow at UPenn/CHOP and Drexel) in Philadelphia PA. I am currently a student in the Full Time MBA program at Gordon Ford College of Business and have a full time job (24/7). You can see my “boss” in the picture below!

I would like to help in making a better future for my daughter and all the kids and I really do believe that business should not be “all about money”.

Hopefully, more information and news regarding economics, business and MBA programs will be shared in this blog. I hope you’ll enjoy it. Feel free to post your comments here.

Michael