Money — how to acquire it, accumulate it, spend it — is a constant topic of conversation, discussion and analysis. This happens at many scales, from the individual and community scale, to small businesses and corporations, and all levels of government. This week’s reads look at some of the business behind doing business.
One of the most popular business services websites, Yelp, was founded in 2004. Twenty years later, Yelp reviews have become an internet writing genre of their own. These reviews can make or break a business, but some reviews are fake — so what’s a consumer to do? There are several ways to tell, and Yelp users should note that “a real review will contain words that are more concrete and describe the "what, where, when” of the experience.“
As consumers decide how, when and where to spend their money, the practice of financial mindfulness can literally pay off. Financial mindfulness means tracking and paying attention to every dollar, and becoming more aware and accepting as a result. This in turn allows consumers to not succumb to emotions when making financial decisions.
A market-driven epidemic refers to epidemics that are caused by creating demand for a harmful product, such as soft drinks and cigarettes, which have been harmful to entire populations. Historically, governments have attempted to curb these epidemics, with some success, using evidence-driven policies. The rate of smoking adults has decreased, but other deadly epidemics remain to be addressed, such as opioids and gun violence.
Other stories to read this weekend include: studying global organized crime for lessons on business expansion and risk management; how business schools can manage their impact; and an explainer for Canada’s housing crisis.
Until Monday,
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On the business of businesses:
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Ann Kronrod, UMass Lowell
No one wants to spend their hard-earned money on a dud product, so we’ll seek advice from strangers. Online reviews can help – but often lead us down the wrong path.
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Emily N. Garbinsky, Cornell University
Awareness and acceptance of not only your money, but your feelings about your money, can help guide responsible financial decisions.
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Jonathan D. Quick, Duke University; Eszter Rimanyi, Duke University
Health leaders, researchers, advocacy groups, companies and the public have saved millions of lives by reducing the consumption of unhealthy products.
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Douglas A. Stuart, University of Victoria
By failing to manage sustainability issues such as those affecting social capital, environmental capital, and leadership and governance, companies may face direct financial impacts.
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Mike Marinetto, Cardiff University
With appetite for MBAs on the decline, should courses be redesigned with lessons from organised crime in mind?
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Andrew Gaudes, Brock University
Students, professors and accrediting agencies are more interested in social impact than ever.
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Yushu Zhu, Simon Fraser University; Hanan Ali, Simon Fraser University
Two housing policy experts explain the origins behind Canada’s housing crisis and what needs to change in order to fix it.
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Jamie Cross, Melbourne Business School
Israel’s response to Iran’s escalation of the current Middle East conflict could cause oil prices to rise further in days to come.
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