Let's call the whole thing off.

This morning while frantically writing this assignment that was due an hour and a half later, I realized that hey, this might make a lame blog post... so here is my assignment for my business 101 class that I am required to take because of my minor in Management in Business Information Systems which is a part of the business school at UNLV.

Oh how i can't wait until i can be done with school so i can concentrate on actual business and not just talk about future business in theory. Enjoy my ramblings below.

Casey Grzecka
BUS 101
11/18/08

Article 1: New Data Privacy Laws Set For Firms by Ben Worthen

This article is from the Wall Street Journal and was published on October 16, 2008. Worthen discusses a new “Nevada law that took effect this month that requires all businesses [in Nevada] to encrypt personally-identifiable customer data, including names and credit-card numbers, that are transmitted electronically.” Worthen further describes that Nevada is on of the first few states that are adopting this policy. Estimates show that this will cost average small businesses up to $3,000 of up front cost and around $500 extra operating cost to comply with this new security requirement.

My reaction to this article was first surprise. I was shocked to find that people are using email to send credit card numbers to pay for services rendered. Unencrypted email is one of the most insecure ways to send confidential information electronically. Everything can be spoofed, from the senders address to the content itself and can messages can be intercepted by hackers with minimal amount skill. I have to remember that not all people have the technical background when it comes to technology and the internet, but I am still stunned that people would not take the proper security measures to keep their customer's data safe. To comment on the cost of implementing these security measures, I believe if one is in the business of transferring any personal data of customers electronically they must educate themselves in order to execute this properly. Cost are going to be associated with this decision, but that is just part of doing business online. If one's business cannot handle these costs then they should not use insecure means to collect sensitive information. It is sad that we must have a law to fight business owners stupidity or ignorance.

The Wall Street Journal's website is littered with bank and investor type of advertisements. The magazine, or in this case web site, is trying to appeal to the savvy business man or woman who is interested in where the “market” is at. One who is probably a so called information worker in the information age that we live in today. No, the Wall Street Journal is not a magazine is not something that I would subscribe to because I can get most of its content online for free. I see value in the content that The Wall Street Journal produces but I have no need for a hard copy. I have digital devises that deliver the content I care about.

Article 2: Get Your Money! Three steps to make sure your clients pay up -even in this lousy market by Anne Fisher, Alexis Jefferies and Brandi Stewart

This article from Money magazine tackles the issue that many companies may be facing today, not getting paid. The authors of this article site Eric Siegel, a business professor at the University of Pennsylvania's Wharton School, he thinks that due to the downturn in the economy many companies are not going to be paying the companies that they owe money to. This article highlights a three step simply three step process that must be followed to collect those hard earned checks. Basically the article says to, one, have an easy method to receive payment. Two, play nice at first with net 30 days payment options on payment of invoices and relaxed fees or penalties. Three, then get tough is money is not coming in by using small claims court or collection agencies.

This article jumped out at me because my partner and I are starting our own Web Development company. I feel that collecting payment in this economic climate may be difficult, especially for a budding company like ours. I though that this article was going to say something profound that I had never heard before or some secret business trick that I was unaware of. To not much surprise, this was not the case. The more and more experience I have with business endeavors, the more and more I realize that the trick is that there are no tricks. There are a few tried and true ways to create value and earn compensation for said value. The context may change, but the fundamentals remain the same. This article has deepened my opinion on this level. Don't believe the hype.

In looking through Money magazine, their advertising is very similar to The Wall Street Journal's in that it is mostly banking related, insurance or business tools related like hot new mobile phones that hold the promise to do half your work for you. The target market here that Money is trying to reach is the entrepreneurial type of small to medium business type of reader that likes to take a bit of a do it yourself kind of attitude. Yes, I would subscribe to this magazine because, well, I already do. Not to say that it was my wife that bought it from her cousin's kid that was selling magazines for his magazine at school. None the less, I have found some value in various articles in Money magazine even if they are on a bit of a lower lever and written on... what that stuff? oh yeah, paper.