The 5 most useful things I learnt during my time at university, that I use running my own business.

That beautiful lady you see in the picture there is me. I like to toot my own horn, because if I don’t know how to show myself love, no one will know to follow suite haha.. I digress..

My name is Tanaka Adeyemo and I am the founder of Rudorwaishe Ltd which is named after my beautiful little girl (also in the picture). We provide tools to help families of the African diaspora teach the languages of their heritage to the younger generation. We currently have flashcards available in six African languages which you can check out on our site here, and I am working on adding more languages this year.

The business has a charitable side to it and donates 10% to a charity I will be involved in. My hope is that this will increase to 50% over time as we grow. The Charity I am currently working on building with two other women will focus on supporting orphaned and/or abandoned children in Zimbabwe particularly because of the AIDS pandemic. We have acquired 20 acres of land and we are gearing up to launch a massive fundraising campaign to build a large-scale orphanage on that land. It’s massive, it’s scary as anything but it’s all very important work.

My time at university seems to have gone by in the blink of an eye. There are a few seeds that were planted while I was there that I now spend a lot of time nurturing and building into the work I do, and I wanted to share those with you all. There are 5 super useful things I learnt in university that I now make use in my day to day when it comes to my business and life in general. Of course, this is not everything I learnt but it’s what sticks out for me and I’m just going to run through them in no particular order…

1.Planning

As you can imagine this one is pretty important. I am a mother now so planning is something I do in my sleep but when it comes to business there needs to be a deeper level of planning that happens even prior to initiation. A business plan (although not always necessary) is something that I found can be useful in planning your business. I’m going to keep it real with you, I didn’t put a business plan together when it came to my business (and I still haven’t) but I planned ahead as much as I possibly could. I completed the research I needed in order to know whether or not my business was even viable. I then went ahead and looked at all aspects of my business in as much detail as I could at the time and put pen to paper, wrote down as much as I could about the marketing strategy, pricing model, start-up costs, design work etc – you get the drift. There will always be a lot you learn from just doing but planning is key to having a successful start to any business. You cannot jump in blind and expect to make a million pounds in your first year. Similarly, with the charity a lot of planning has been going on even prior to us setting up officially and has been so key in understanding exactly what we are about to dive into. It’s the reason I can say it’s a massive and also extremely scary project we are taking on!

2. Networking

Ever heard that saying “it’s not what you know, it’s who you know” or even “your network is your net worth”? Yeah! That all starts in university (or way before for some people). There are so many people that I met in my time at university that I now work with, am close friends with and one that is Godfather to my daughter. Learning to network is so key and using university as your learning ground is something I would highly recommend. Build that networking muscle from early and regularly work on it because that will serve you so well when you leave university. I always saw myself as someone who was shy when I was at university. Talking to people wasn’t always something I found easy (still don’t), but I did and do push myself. Honestly speaking, if I were to redo my time in university this is definitely something I would do more of, so I 1000% encourage you to get out there (virtually for most at the moment of course) and get to ‘met’ a whole lot of different people however that may be.

3. Authenticity

There is no one that will ever be better at being you than you are! It is so important to remember to be yourself and do what feels right to you even in business. I have really learnt the importance of this during the time I have been running Rudorwaishe. People will do things differently and may seem to be more successful than you, but you have to ‘stay in your lane’ and remember what makes you, you. That will shine through in your business and in life. You will thrive a lot more because things will come naturally. Of course you can gain inspiration from a variety of sources but that does not mean you should copy and paste.

I always describe myself as someone who is HOT… Honest, Open, Transparent… and I constantly try to remind myself of this in all that I do. University can be very confusing and can be a place where you are still trying to find your feet and so it’s difficult to always be open and transparent (or at least I found it was). All I would say is, as long as you are being honest with yourself and those around you then that’s a good start. My advice? Learn about yourself and all the amazing (and not so amazing) things that make up who you are. This will serve you well in life after university, whether you decide to start your own business or not.

4. A Growth Mindset

A growth mindset, simply put, is the belief that you can develop and improve your basic abilities through hard work, discipline, and dedication. Without it you do not put in the work you need to in order to progress and you remain stuck. Having a growth mindset means you are more likely to take risks and you welcome challenges as they are an opportunity to learn and develop. As a result, you are always trying new things, building new skills and experiencing a lot more due to not having that ‘fear of making mistakes’ that occurs when you have a fixed mindset.

I have not always had a growth mindset although it always ‘called out to me’ so to speak. Getting to where I am today in relation to my mindset has required (and still does require) me putting in a lot of work to change my thinking and be more ‘can do’ rather than ‘it’s not possible’. I used to be the one who would find every excuse not to do something all because of fear and it stopped me from going for the things I wanted. I decided to spend time developing myself because I wanted more. This all started for me in university when I met some amazing people who really showed me what a growth mindset was – without knowing they were doing so may I add – and how it can be a great benefit.

Your mindset is the difference between success and failure in anything. If you want to do better, then you must be better, and it all starts with your mind. Be Positive.


5. Mental Health Awareness

This is something that not a lot of people know about, but when I was in university I really struggled with my mental health. A lot of past trauma came back up while I was in university and I went through some really difficult moments for one reason or another. I went through so many emotions and drank a little bit too much (here’s me being honest, maybe a little too much) and so I turned to the services that Uni offered and saw a counsellor. I will tell you now, that was the most painful and annoying first experience of therapy but, it was there that I realised I suffered from depression and anxiety and there was a lot of mental health work I needed to do to get myself better.

Now being of African heritage, talking about mental health is not something that is common and used to be something of a taboo subject (still is in some communities), so there was a lot of learning I had to do around mental health.

I started my business during a pandemic, my husband was shot four months after I officially launched in a freak incident (he’s doing okay now thankfully), I had a mental breakdown, got myself back together and somehow still managed to keep the business going. Those seeds that were planted during my time at university with that counsellor, the relationships I cultivated through networking, the planning ahead that I did for my business which I learnt about in university, the mindset I have been working on since university, all of it served me so well in one of my most challenging moments in life and in business to date.

There is a lot that goes into starting up and running your own business. There is the theory that you get taught in your course which is what helps you get started and there is also the lived experience you get from your time at university that helps strengthen who you are as a person. All of it is part of your success story. So I guess what I am trying to say in a long winded way is, make the absolute most of your university experience however it may look at this moment and take every opportunity given to you! Utilise the university resources (heck, max them out if you have to) and get to know the people that can help you be great.

Putting that work in while you are at university will only serve you well in the future and it may not even be in the ways that you think.

One last thing from me.. I know the business name can be a bit of a tongue twister but it’s important to me that people learn it, it is my daughter’s Zimbabwean name after all. So check out the image and let that R in the middle just rrrroll off your tongue 😊!

Want to connect with me? Click any of the links below and say hey!

Instagram, Website, LinkedIn

Staffordshire Business School students making a positive impact with peer mentoring

Professor Vish Maheshwari, Associate Dean, Staffordshire Business School


Having a helping hand available as a friend, a peer or a fellow student who could provide guidance and advice or even act as a sounding board is critically important part of a student journey. This peer member may be a fellow student from within one’s own course or an interdisciplinary programme but perhaps studying at different level, mostly a year or two above. Although, operating within a formal mentoring scheme, such peers act in a very informal and casual manner and could be the first point of contact for students, outside of formal classroom and academic support, as they are able to share their own lived experiences. They are able to guide fellow peers on ‘what had worked and not for them’ in a practical manner that can be very helpful. It is credibly established logic where lived experiences are found to be most effective positive guide than some of the conceptual or prescribed advice.

Peer mentoring is not new but is still a novel approach in an education setting and has become an increasingly used practice amongst university students across many higher education institutions. The practice has led to some very positive impact on student experience generally, and more specifically in providing ‘scaffolding’ approach for many students in building their confidence, communication skills and becoming resilient. Peer mentoring also helps with students gaining self-belief and motivation to continue with studies and thrive as one progresses successfully through different stages of a university course.

Staffordshire Business School students are currently involved in a peer mentoring scheme, with student mentors trained and supported by academics, university’s guidance and careers teams. The peer mentoring is aimed at engaging students at all levels, helping with building self-confidence, communication and social skills, networks and more importantly meeting new people by making most of their university time. There is also an added benefit of exploring potential academic and career development opportunities a result. Positive impact of peers is noticeable, especially given the unprecedented circumstances and challenges, within higher education, due to the pandemic. The student engagement with host of activities, in addition to the academic sessions, has been remarkable.

For example, during Staffordshire Business School’s recently organised Creativity and Innovation week, involvement and participation from our students across all courses was remarkable. Alongside academics, peer mentors and student representatives played an important role in encouraging students across the school to participate with various activities planned during this week. As a result, throughout the week, students engaged actively with variety of skills development workshops, Microsoft, Google and LinkedIn learning led digital insights seminars and business engagement sessions. It was a pleasure to note that the lead taken by peers has rubbed off on positively amongst diverse fellow student groups. Additionally, a group of our final year students recently organised and successfully hosted a mid-year virtual ‘Celebrating Success Awards’ ceremony, in order to celebrate success where it has been most deserved amongst students. The awards were voted for and by students, with nominations put forward by fellow students and judged by Department/School student representatives, it was a very successful event that had excellent student body participation throughout.

Overall, peer mentors and mentees have demonstrated a real desire to step up and build a thriving community of students that is confident, resilient with a strong determination to become successful graduates.

Awareness and Corporate Social Responsibility

Storm Barratt, Course Director, Staffordshire Business School


Almost never a day goes by, when we aren’t reminded that “today” is National, International or even Global “something” awareness day or week or month. From the ever-popular Christmas Jumper day to my own particular favourite – National Squirrel Appreciation Day (!), from National Allotment week to Fairtrade fortnight to National Bed month.

All of these campaigns are designed to raise awareness and/or funds for some serious and not so serious issues. So, why as a business, would you want to know this?

Firstly, all businesses have basic ethical and legal responsibilities; however, the most successful businesses establish a strong foundation of corporate citizenship, showing a commitment to ethical behaviour by creating a balance between the needs of shareholders and the needs of the community and environment in the surrounding area. These practices help bring in consumers and establish brand and company loyalty.

It is considered normal for businesses to balance the other stakeholders’ needs with those of the shareholders during the decision-making process. Corporate Social Responsibility (CSR) goes even further, making the general public a stakeholder and shows that the business wishes to actively improve things for everyone.

Image Source: www.growthbusiness.co.uk

For any business making a profit is still key and, of course, the needs of employees, customers and suppliers must be satisfied if the business is to survive. However, Corporate Social Responsibility has become far more important over the last few decades with consumers worrying about how the products they buy were made and how companies that they buy from are run. On many company websites there will be narratives of how they look after the environment and all the CSR initiatives of which they are a part.

Corporate social responsibility comes in many forms. Even the smallest company impacts social change by making a simple donation to a local food bank. Some of the most common examples of CSR include:

  • Reducing carbon footprints
  • Improving labour policies
  • Participating in Fairtrade
  • Charitable giving
  • Volunteering in the community
  • Corporate policies that benefit the environment
  • Socially and environmentally conscious investments

The growing popularity of National Awareness Days can tap into these initiatives helping a company both internally and externally.


One internal perspective is if your employees can see that the business is taking a caring approach, by raising funds for charity for instance, involving the staff may mean that they become more motivated to engage with each other working towards a common goal. In fact, whilst “Wear a Christmas Jumper to Work” day seems an opportunity to raise a smile amongst colleagues as we approach the long dark winter months, the serious aspect is that the jumper wearers are raising money for a great cause.

Another perspective is using “Awareness Days” to help a business promote their product or service (all the better if this can also highlight the CSR approach taken by the company). The issues can make an ideal marketing tool for a business, providing inspiration for marketing content.

By adding context to an awareness day, a business can plan their content by linking a day to their product or service, so for example an artisan baker could showcase their expertise and knowledge during Real Bread Week, or a nutritionist could use National Allotment Week to encourage healthy and organic eating whilst promoting their own healthy eating programme.

It’s not just about direct promotion though. Awareness days can provide a great opportunity for a business to engage in conversation with future consumers via social media using hashtags associated with the cause, on Facebook, Instagram and Twitter. This will allow people to find and contact you, consequently building your audience.

From engaging with employees to good PR to corporate social responsibility, supporting a national awareness day is a great way to show which values are important to you and your business. It can differentiate you from your competitors and allow you to build partnerships with charities and organisations that share your beliefs. With the potential to build trust as well as give a little back, it’s a win-win situation for all.


Become a responsible leader of global business.

Do you want to be at the forefront of modern enterprise? Our BA (Hons) Business Management and Sustainability course challenges the traditional interpretations of enterprise and will open your mind to a broad range of contemporary themes in business.

Our emphasis on ethical business and sustainability will position you to create long-lasting value for your organisation and you will learn the practical skills needed to become a responsible business leader.

Behind the Curtain – Organising The Staffordshire Business School Celebrating Success Awards 2021

On 28th January, myself (Ben Cooke), Lia Bover Armstrong and Cerys Chilton hosted the Celebrating Student Success awards for the Staffordshire University Business School. The event was a fun-packed, exciting evening which praised students for their outstanding efforts over the last year. The three of us thoroughly enjoyed the opportunity to host the event and have decided to compile a short Q&A in order to offer “a glimpse behind the curtain”.

How did you work together as a team?

CC: This was our first time working together as a team and I felt we worked well. It was an amazing opportunity to develop skills and knowledge, by working with people I don’t normally work with. It also benefitted me learning where I fit in with different types of people’s work styles. In the beginning we managed to delegate roles amongst ourselves to help plan the event. Considering the short period of time to conduct the event, we successfully used each other’s previous experiences in the event industry to decide roles in planning the event. Working with people you don’t necessarily know is going to be a part of any industry, in particular events, being thrown into a challenging task has built my confidence in communication. Throughout the planning of the event, the role of Team Leader transferred to different individuals throughout the stages of the event, depending on factors that we had to consider and manage. For example, Ben managed a lot of the technological side of the event and Lia managed the communications via email. This opportunity gave us a real-life experience of the industry we all hope to go into, and I feel our joint appreciation for this motivated us all to succeed in the project.

What challenges did you face during the planning process?

LBA: Thankfully, there weren’t many challenges we had to face, but I think Ben and Cerys can agree with me that having to meet virtually and having a short amount of time to plan everything was a bit stressful, as getting information across is slower that if you were meeting face to face. However, it was a good way to learn how to work in a team with people you don’t usually work with; to see what it would be like to work in the events industry during these current times where you must work from home even if you are part of a team; and that there is always a solution for everything, even if that means getting out of your comfort zone.

What challenges did you face throughout the event and how did you deal with them?

BC: Being on the technical role, using a new software was challenging. It took a bit of playing around to get used to it, but with a bit of practice it became easy. I would say the challenge using StreamYard throughout the event would be changing from screen to screen to share content for the viewers. This task takes a lot of patience as the software might play up at certain times due to the pace you are trying to change the visuals at. In order for the viewer not to realise the delay, we used the private chat not visible to the attendees in order to inform Lia and Cerys that there was a technical issue and to keep the content rolling in order to fill any gaps. This was a useful tool as it appeared to the viewer as a seamless transition.

What went well?

CC: As previously mentioned, we worked well as team and we delegated roles efficiently according to our skills. On the night we worked well as a team, as well through the private chat box to ensure that everyone was okay. Where needed gaps were filled and any crisis were quickly solved, for example if there was a delay, me and Lia as hosts would continue to chat and talk to prevent awkward silences. The creative ideas we came up with for the awards ceremony such as the use of Mentimeter and a short acoustic performance from Mick Williams were a success, engaging with the audience. The use of StreamYard was also successful as we could see the engagement of the stream as we were hosting and could refer to the comments throughout the live stream.

How would you improve and what have you learnt from this?  

BC: If we were to host a similar event again, I would use a computer with two screens to change visuals over at a quicker pace. Due to being under lockdown restrictions, I only had the one screen available which caused a slight delay in proceedings to get the content on the stream. Despite this point I would possibly look down other routes of streaming software. StreamYard can be slightly limited in the content you can share on the screen, so further research into similar software would be a great idea.

What advice would you give to people hosting an online event?

LBA: Make the most of it and make sure you give yourselves enough time to plan it all. Enjoy every second of the whole process and just be positive and optimistic about it all. Get yourself out of your comfort zone, even if it feels scary at first, and don’t let it get to you if something doesn’t work straight away because it’s normal and even the biggest events out there have technical issues and learn from those experiences.

Papi’s Pizzas

A quick and easy guide to making Nutella ® pizzas and chatting about setting up a Pizzeria

Friday 5th February is #WorldNutellaDay

Papi Paul (Paul Dobson) has had extensive experience in supporting the hospitality trade, including the successful start-up and running of pizza restaurant and takeaways, both here in the UK and France.

On Friday 5th February, 1pm-2pm, Paul will be delivering a pizza making demo and chat which will cover a quick and easy way to make Nutella® pizzas and discuss the start-up and running of a pizzeria.

Share your passion for Nutella ® with a tweet by adding the tag @nutelladay and the hashtag #worldnutelladay. Become a follower of @nutelladay on Twitter, connect at nutelladay.com and share your World Nutella ® Day images on Instagram and Pinterest and tag your photos or stories using the hashtag #WorldNutellaDay.

Paul’s session will be delivered on Microsoft Teams. To join the session, click the following link at 1pm on Friday 5th February:

JOIN PAPI PAUL’S NUTELLA PIZZA MAKING SESSION

To take part in making your very own Nutella Pizza, you will need the following:

Ingredients :-
500g OO flour, plus extra to dust
1 x 7g sachet fast action dried yeast
1 tsp fine sea salt
1 tsp caster sugar
2 tbsp olive oil, plus extra to drizzle
1 tbsp semolina, to press out

Equipment:
mixing bowl
wooden spoon
baking tray/pizza stone 
Oven at 220 degrees.

Financial Crimes – The Vulnerable, The Gullible, and The Culpable

Olushola Fashola, Lecturer, Staffordshire Business SChool


Nuthall (2019) asserted that the United Nations estimates that between 2% and 5% (US$800bn–US$2trillion) of global GDP is laundered. The year 2019 saw global anti-money laundering (AML) penalties going beyond £6billion (actual value was £6.2billion which is equivalent to around $8billion), with the US imposing double the quantum of fines imposed by UK authorities (Sweet, 2020). These facts suggests financial crimes is on the rise, which is a worrying development for societies, governments, organisations, and individuals. It is therefore important that some sort of reflection (collectively or individually) be undertaken by all concerned regarding how things have deteriorated to current level in terms of emerging global narrative on financial crime. Consequently, my own lived experience within a socio-economic and institutional context offers a basis for looking at financial crime through the multiple lens of three actors – “the vulnerable”, “the gullible” and “the culpable”.

THE VULNERABLE

Some years back I was looking through job advertisements on various websites, hoping to find a flexible job that will permit me to spend more time with my young children. I did not search too long before I came across one placed by a supposedly US based company. Though, the role was described as Administrative Assistant, the job description was more of a home-based funds transfer officer. Considering that I have practice experience in banking and finance, I quickly applied and was very optimistic as to my chances of eventually getting the job. Just as I had anticipated, I was offered the job. However, mode of operation triggered some curiosity – the company will pay money into my account which I shall subsequently transfer to various recipients!

THE GULLIBLE

The unusual nature of the responsibilities attached to this job role sent alarm bells ringing. I contacted the website where I found the job to let them know of my suspicion that something was not quite right about this company and the job. The website’s initial response was to dismiss my suspicion, suggesting there was nothing unusual about either the company or the job. Whilst pondering as to the genuineness or otherwise of this job offer, I listened to the BBC money box programme focused on money mules. This made the connection between this job offer and money mule operations vividly clear. I contacted the website again, now aware of the prospect of being used as a money mule based on what I have learnt from the BBC programme. This time, the response was an apology and commitment to bar the company from using the website. Prioritisation of corporate social responsibility can help reduce the chances of financial fraud occurring (Liao et al., 2019).   

THE CULPABLE

Whilst I did not allow this company the opportunity to pay any money into my bank account, I wonder how many people they had successfully persuaded into accepting such payments through their banks. The banking industry is central to economic growth and development, but also remains a vital part of the carefully orchestrated dastardly design of financial crimes’ architecture. The growing evidence against banks with respect to recurring culpability in facilitating financial crimes is a worrying trend that compounds erosion of public trust in them since the financial crisis of 2008/2009. Sanctions imposed on banks (see below) for offences with a bearing on financial crimes bears testimony to banking industry’s culpability.

Feb 2014: Standard Bank PLC fined £7.6m for failures in its anti-money laundering controls (BBC, 2014)

May 2015: Barclays fined $2.4bn for forex rigging (Financial Times, 2015)

June 2015: HSBC pays out £28m “compensation” to Swiss authorities over money-laundering claims (The Guardian, 2015)

November 2015: Barclays Bank (Barclays) was fined £72,069,400 for failing to minimise the risk that it may be used to facilitate financial crime by the Financial Conduct Authority (FCA) (FCA, 2015)

December 2019: HSBC to pay $192m penalty in US for helping clients hide $1billion dollar worth of assets for tax evasion purpose (Financial Times, 2019).

Financial service regulators may have demonstrated a commitment to ensuring banks do not act as facilitators of financial crimes through these sanctions, but the inherent culpability of the financial regulatory system in certain jurisdictions means that these fines do not address why they have become a magnet for financial crime. The public prosecutor in the HSBC/Swiss regulator case as cited in The Guardian (2015) sums up the real source of financial service industry culpability in financial crime thus:

“When we have a law that doesn’t punish financial intermediaries accepting doubtful funds then we have a problem. This problem dates from long before the HSBC affair.”

REFLECTION ON EVIDENCE

Criminals adept at committing financial crimes often targets the vulnerable. They are also very clever at deciphering individual vulnerabilities. Unemployment was a vulnerability ready to be exploited in this case. However, various other vulnerabilities can be the focus of the ploy of these criminals. For instance, search for acceptance and love (BBC 2020), desire to help others and outright greed, are a mix of vulnerabilities often exploited by advance fee (otherwise called “419”) fraudsters.

Individuals or organisations should not think they are above gullibility when it comes to financial crimes. The website involved in this case is a subsidiary to one of the major global online platforms. Yet their vetting process allowed this job advertisement to be placed; and initial response to contacting them laid bare their gullibility – a failure in their social responsibility obligation to society!

Banking industry and its regulatory framework remains an important defence line in society’s response to combating financial crime (Ryder, 2017). A basic line of defence where banks had in the past dropped their guards is with respect to “Know Your Customer” (KYC). This important anti-money laundering requirement needs full compliance for the global fight against financial crime to be successful. Specifically, a risk-based approach to KYC practice can help operators in the financial services industry balance regulatory compliance with business exigencies. Such an approach can help focus attention on potentially risky clients such as the politically exposed person (popularly referred to as PEP). The need for some sort of global regulatory alignment to ensure that there are no safe havens for illicit wealth (Nance, 2018) will require every nation to review its laws and ensure that loopholes exploited by financial criminals and their intermediaries are plugged.

CONCLUDING REMARKS

Fraud triangle comprising of opportunity, incentive/pressure, and rationalization (Cressey, 1953) had received wide scholarly attention, it is perhaps time we switched attention to actors whose moral gap facilitates financial crime. Vulnerability, gullibility, and culpability represents a collection of attributes that helps financial crime to spread like wildfire and the criminals that benefit from them to take the rest of society for granted. Hence, the need for every individual and organization to undertake a self-assessment as to whether they may be tacitly facilitating financial crime as a vulnerable, gullible, or culpable actor in a dark web that leaves society morally and economically bankrupt.


REFERENCES

BBC (2014) Standard Bank fined over lax anti-money laundering controls. Available at: https://www.bbc.co.uk/news/business-25864499 (Accessed 18/12/2020).

BBC (2020) Covid: Romance fraudsters ‘target lonely’ in lockdown. Available at: https://www.bbc.co.uk/news/uk-wales-54855321 (Accessed 04/01/2020)

Cressey, D. (1953) Other People’s Money. New York, NY: The Free Press.

Financial Conduct Authority (2015) FCA fines Barclays £72 million for poor handling of financial crime risks. Available at: https://www.fca.org.uk/news/press-releases/fca-fines-barclays-%C2%A372-million-poor-handling-financial-crime-risks (Accessed 18/12/2020)

Financial Times (2015) Barclays fined $2.4bn for forex rigging. Available at: https://www.ft.com/content/a255cd2a-fef8-11e4-84b2-00144feabdc0 (Accessed 18/12/2020).

Financial Times (2019) HSBC to pay $192m penalty in US tax evasion case. Available at: https://www.ft.com/content/e7d51ec4-1b99-11ea-97df-cc63de1d73f4 (Accessed 18/12/2020)

Liao, L., Chen, G. and Zheng, D. (2019) Corporate social responsibility and financial fraud: evidence from China. Accounting & Finance, 59(5), pp.3133-3169.

Nance, M.T. (2018) The regime that FATF built: an introduction to the Financial Action Task Force. Crime, Law and Social Change, 69(2), pp.109-129.

Nuthall, K. (2019) FATF’s new guidelines on tackling money laundering. Accounting and Business magazine, November (Chinese Edition). Available at: https://www.accaglobal.com/gb/en/member/discover/cpd-articles/governance-risk-control/fatf-cpdnov19.html#:~:text=According%20to%20the%20United%20Nations,of%20global%20GDP%20is%20laundered.&text=Accountants%20assisting%20with%20property%20purchases,been%20laundered%20into%20legitimate%20accounts. (Accessed 18/12/2020).

Ryder, N. (2017) The financial crisis and financial crime in the United Kingdom: A critical analysis of the response by Financial Regulatory Agencies. The Company Lawyer, 38(1), pp.4-14.

Sweet, P. (2020) Global anti-money laundering fines top £6bn. Accountancy Age publication of 17 January 2020. Available at: https://www.accountancydaily.co/global-anti-money-laundering-fines-top-ps6bn (Accessed 18/12/2020).

The Guardian (2015) HSBC pays out £28m over money-laundering claims. Available at: https://www.theguardian.com/business/2015/jun/04/hsbc-fined-278m-over-money-laundering-claims (Accessed 18/12/2020)


Discover how accounting and finance underpins modern enterprise in our BA (Hons) Finance and Business Enterprise.

Staffordshire Business School Creativity and Innovation Week – w/c 18th January 2021

Creativity and Innovation Week offers students a huge variety of sessions delivered by academics from both Staffordshire Business School and the School of Digital, Technologies and Arts along with some fantastic guest speakers.

As well as our keynote presenter, Ian Reid – Chief Executive of the Birmingham Commonwealth Games 2022, we will also be welcoming the team from Alton Towers, including Janet Gurr – Hotels and Accommodation Development Director, Neil Crittenden – Commercial Director, Jo Mountney – Divisional People Partner/HR Director and Jason Mumford – Senior Recruitment and Learning & Development Manager.

The Creativity and Innovation Week 2021 is also an ideal opportunity for you to gain additional micro-credentials to enhance your employability. Use this time to take a MOS exam in Word, PowerPoint, Excel and Outlook, or perhaps even all four. This will also help you to save time in future assessments through the use of appropriate presentation tools and shortcuts to complete assessment tasks. There are also 11 LinkedIn short courses embedded into the programme.

To view the full schedule of sessions, click below:

Fail to plan, plan to fail

Angela Lawrence, Associate Dean, Staffordshire Business School


This morning I was labelled a geek. I don’t mind being called a geek (I probably am a bit of a geek) but what is interesting is that this label was awarded as a result of me sharing a plan on twitter. The plan for my allotment in 2021.

Now I don’t feel that planning makes me geeky – I’m a big believer in planning and the saying “fail to plan, plan to fail” is one that I use often. I plan a work “To Do” list at the end of each working day, a shopping list before walking down to the shops, I plan holidays months if not years in advance and yes, I plan which vegetables I am going to grow at my allotment and which beds they will go into. That way I can be sure that the soil will be right for them, the light conditions will suit them and that everything grows together in harmony to produce bountiful harvests.

This Photo by Unknown Author is licensed under CC BY-SA

Planning is a big part of business success – we create business plans, marketing plans and project plans in all aspects of our working life. Without things like business continuity planning, risk management, financial planning, many businesses fail to survive in today’s fast-moving work environment. Students are taught planning not only as part of their studies, but also as part of their own lifestyle management as a student – our students even brought together some tips to share with others in this YouTube video.

Some would say planning has been difficult during 2020 and it’s hard to plan when we don’t know what we will be able to do. I think this is actually all the more reason to plan – if plans didn’t materialise, as so many failed to during 2020, then we suck it up and plan all over again, whether it be a holiday, a birthday, a wedding or a study plan for the year. What has been bumped from the top of the list now goes back into the list again for re-scheduling.

Plans give us hope and they psychologically prepare us, they build anticipation, and they demonstrate commitment. When we plan, we mentally get organised and prepare ourselves and this is a good thing – it saves us from stressing about the unknown, relieves some uncertainty and helps us to cope better

Plans don’t have to be big, they don’t have to be impressive, they don’t have to be written down (although I do get great satisfaction from planning on paper) and they don’t have to be shared. They may not mean a thing to anybody but you, and that’s just fine. I can guarantee that you will enjoy your planned activities far more for having planned them and that you will stress less and cope better with things that challenge you.

Happy planning – you have a whole year ahead of you, LET’S GO!


Staffordshire Business School is a premier centre for business education with decades of experience in providing business courses at the forefront of industry and technological developments. Business planning is integrated into all of our new business courses – click here to find out more.

Multiple accreditations in progress for new courses

Staffordshire Business School is working with a number of professional bodies to ensure relevant accreditations for our new suite of courses.

For Digital and Social Media Marketing we are working with the Chartered Institute of Marketing (CIM), the world’s leading professional marketing body.

For Business Management and Sustainability and Business Innovation and Entrepreneurship we are working with the Chartered Management Institute (CMI), the only professional body able to award Chartered Manager status. We are also working with The Institute of Leadership and Management who have been researching the knowledge, skills, attitudes, behaviours and values of great leadership since
1947.

These accreditations mean that students will have the opportunity to graduate with an additional professional qualification alongside their degree.

Plan and the future will be bright

Paul Walters, Lecturer, Staffordshire Business School


The event sector which includes hospitality and tourism, has seen a significant decline in commercial activity, since March 2020 and as we come to the close for the year 2020.  Many small to medium size business saw a complete loss of business, this included the festival industry which had somewhere in the region of 7 million visitors attending festivals in the UK each year.  It is reported, the UK prior to the COVID restrictions had somewhere in the region of 400 plus festivals throughout the UK each year.  Even the largest event provider on the planet ‘Live Nation’ experienced financial difficulty and received $500 million from a Saudi investment fund.  Live Nation furloughed 20% of its staff to save $600 million and Live Nation artists were informed by the company to take a pay cut.  This was a similar situation and mirrored in most cases across the Event Sector. 

Companies within the sector that had Interruption Insurance, attempted to make a claim because of the Government shut down.  The sector will fully understand what is meant by ‘interruption Insurance’.  As some insurance companies decided to decline claims on ‘Interruption Insurance.  Insurance companies argued that many claims did not specify or have insurance for the specific type of interruption.  However, there was some light at the end of the tunnel, a High Court ruling on the 15th September 2020 which represented 370,000 policy holders who are some way clearer to an answer and pay out under their interruption insurance claim.  So, what do we learn from this, it is not just necessary to have interruption insurance but also specify the type of interruption be that Government shut down, a pandemic and what type of virus, be that SARS, Zika or any other known type.  

Some event companies within the sector made an early attempt to re-engage with their consumers through a different medium. Those that made the immediate change rather than cancel maintained a presence in the commercial marketplace and some saw a significant increase in revenue. 

Image source: https://www.tomorrowland.com/en/festival/welcome

If you haven’t heard of Tomorrowland outdoor music festival, let me refocus your attention. This is a festival that takes place in Belgium and has a 15 year history.  In 2019 Tomorrowland had 250,000 attendees at the festival site.  When the pandemic hit the global economy, Tomorrowland didn’t cancel or postpone, they created over a period of three months an online virtual festival. Two million people registered for a ticket and 400,000 people received an invite.  Some commentators say the industry in the main wasn’t quick to respond to the change to the environment, thus providing a short-term alternative solution for their customers. 

In the North East of England, we saw the first licensed outdoor music event that ran for a period of 6 weeks. With a maximum capacity of attendees each day of 2500, contained in their own Covid secure zones, a maximum of six per zone.  The event was sponsored by Virgin money as title sponsor.  For the event to have a return on investment, a schedule of live performances over six weeks was the only solution.

Image Source: Daily Feed

So, the question on everyone’s lips, will the event industry recover and what will it look like in 2021 going forwards. 

There is no guarantee for this virus to completely dissipate from society even with a vaccine and we as a nation may experience another rise in transmission during 2021 and possible government shutdowns. The events industry must be flexible and ready to respond to the change in the environment to maintain some financial stability and continued growth.  Alternative methods for delivering events should be considered and factored into the planning process with a viable contingency if immediate change is required. 

Get your Hunter Wellington Boots on and book a ticket for Parklife outdoor music festival September 2021.