Advertising is a unique service business. When limited to the Internet, platform operators gather users and allow them to access the platform for free in exchange for viewing advertisements. In reality, users are not accessing the platform for free; instead, the advertiser pays for it. In other words, users do not fulfill any obligations regarding platform use, while the advertiser assumes those obligations and gains profit by notifying and exposing themselves to the user. The platform operator fulfills its obligation by providing the advertising medium to the advertiser, but does not guarantee the advertisement’s success and is not accountable for the outcomes of the business. Advertising represents one of the few unique transaction structures in the world that satisfies the utility of each party without necessarily attributing benefits to the counterparty meant to receive them. Such an unusual transaction structure has been rare throughout human history. Although the advertising indu...
DuPont, a global chemical company, has one core value: Safety. The company is well known for adhering to its core values which stem from its historical background. DuPont began as a gunpowder manufacturer during the American Civil War. In 1884, DuPont's CEO, Lammot du Pont, was killed in an explosion. This accident stimulated the catalyst for DuPont's realization that safety should be a core value of the company. Here's a true story as an example. Two DuPont employees were on an overseas business trip and needed to take a taxi to a meeting, but the taxi only had seat belts on the passenger side. They would be late for the meeting, but DuPont policy dictated that only one person be put in the cab while the other took a different cab. Core values represent a company's identity and mission, and complying with them is a crucial challenge for any organization. - Joseph’s “just my thoughts”