Staffordshire Business School Gets Full Marks in National Student Survey

Staffordshire University are pleased to announce that they have received 100% in the National Student Survey 2017 for their Accounting and Finance 2 Year Accelerated degree.

Earlier this year the subject area was also ranked 1st for Student Satisfied with Teaching in The Guardian League Tables 2018 and in the Complete University Guide we were number 1 in the Midlands for student satisfaction.

Karl McCormack – Course Leader joined Staffordshire Business School in 2010, and is a member of the Association of Certified Fraud Examiners and has expertise in forensic accounting and fraud risk management.

Karl said:
“It is really good to see that our accounting students are having such a great experience on their course and at Staffordshire University. Our strong personal tutoring programme, staff enthusiasm and promotion of the Staffordshire Graduate Attributes all play a crucial role in these results. It must not be forgotten though that the dedication of staff, both academic and support, shapes the overall experience.”

 

Acting Dean of Staffordshire Business School, Dr Peter Jones, added: “These results are testament to the great work that our Accountancy and Finance team does in producing a fantastic student experience. To be ranked number 1 in the UK is a real achievement.”

 

The measures for teaching on the course were as follows:

Staff are good at explaining things – 100%
Staff have made the subject interesting – 100%
The course is intellectually stimulating – 100%
The course has challenged me to achieve my best work – 100%

In fact the course attracted 100% satisfaction ratings in no fewer than 20 of the 27 categories.

For more information on our Accounting and Finance courses click here

The Importance of Employability Skills – Get Ready for Employability Challenge!

Without a doubt, one of the main challenges for students today is that different employers look for different sets of employability skills. However, it can be difficult for students to think about their employability skills whilst at university given busy schedules and pressure to meet assignment deadlines.

At Staffordshire University we take employability promise seriously. We want all of our students to graduate with the right employability skills and experience to enable them to follow their chosen career path. We promise our students to equip them with relevant employment skills and we deliver on our promise. We are proud about the fact that 97% of our graduates are in employment after graduating. When it comes to employability of our graduates, we are proud to be No. 1* in England for graduate employability. To achieve this, we work in partnership with many industry-leading organisations to help them tap into our home-grown graduate talent as well as helping students develop their employability skills through various initiatives and practices such as mentoring and work-shadowing. Global Entrepreneurial Week (GEW) event held at Staffordshire University every year plays the key role in equipping graduates with relevant work-related skills.

At Staffordshire University, we are committed to helping students maximise their employability and ultimately finding their dream graduate job, by offering a range of career-related events. In particular, GEW is an annual event at Staffordshire University that brings together a range of industry leading employers on campus during which students can meet and network with employers to find out about employment opportunities. Organised specifically for students, GEW and FutureFest event is designed to inform students about the future world-of-work. The Staffordshire University is committed to helping students maximise their employability, therefore the program is centred on topics that can help students succeed in every step of their career development process.

However, whilst we are committed to bringing leading business experts to share their expertise with students, there is also an expectation from students to actively participate in this event in order to get the most out of this unique opportunity for their career development. How to make the most out of this event? Network, network, network. Forward thinking students always have their CVs on hand to give out to potential employers. If you have never written a CV, you could get a professional help from the Career Office, who would assist you in writing a professionally looking CV, highlighting your transferable skills, and any work experience you have to date.

GEW and FutureFest event will provide students with an excellent opportunity to meet employers, discuss job opportunities, better understand career opportunities across various industries, get industry insights from recruiters, network with Industry leaders or simply get inspired. So, if you’re looking for your dream job or just looking to further enhance your employability skills, come along to GEW and FutureFest event held at Staffordshire University on November 13. We look forward to active participation of students in GEW and FutureFest 2017!

Dr Katerina Thomas, Senior Lecturer at Staffordshire Business School

www.staffs.ac.uk

 

*Joint with Bishop Grosseteste University, excluding specialist institutions. Source: DLHE 2017

What Next After Graduation?

Now you have completed an important journey of your life! It is truly a milestone and whether you have done it for yourself or for parents’/partner’s sake, the dedication, commitments and challenges have been great and will live with you for a very long time to come. From now on, anything that you wish to set as a target or challenge is within your reach! Some of you will be looking for jobs and others will make a decision whether to set another educational goal. A master’s degree perhaps, a PGCE or professional qualifications? Any and all are within your sight and sky is the limit for you! Whatever you would like to do, you are now the expert to confirm to yourself, yes, I can and I will do it…

Just to let you know that Staffordshire Business School offers a wide range of Masters degrees, just to mention few: MSc Accounting and Finance, MSc Digital Marketing Management, MSc International Business Management, MA Human Resource Management and MA Strategic Human Resource Management. Most of which attract a student finance loan of £10,280 to pay for the fees and your living costs. Because the University wanted to make it easy for those who wish to further their study, it set the Masters fees so low! Therefore, the £10,280 student finance loan is more than enough to pay the fees and goes a long way to cover significant part of your living expenses. For example, the fees for the MSc Accounting and Finance is £6,200 (for Home and EU students). The recipients of £10,280 from student finance will be left with £4,080 after paying the fees which they can use towards their living expenses!

Remember, if you are still finding it difficult to make this strategic decision about your future, your ‘former’ personal tutor, course leader and all other staff who taught you are only too pleased to discuss this with you. Of course the Postgraduate course tutors are there too to provide further details about their particular course.

Being the Connected University, the message is simple, do not hesitate to get in touch!

Arshad Hussain, Senior Lecturer at Staffordshire Business School.

www.staffs.ac.uk

3 Skills & Attributes To Focus On In The 21st Century!

As always graduation day was a very enjoyable and special day full of smiles, congratulations and a sense of having played a part (albeit a minor role) in someone’s life. This year I listened to Sarah Willingham, a fantastic entrepreneur, and as it happens a very inspiring speaker. Sarah’s story and advice was brilliant, poignant, uplifting and heartfelt and one word resonated with me and it was ‘Resilience’. “Remain resilient”, Sarah said.

I recalled my thoughts on employability attributes and skills in the 21st Century and how I can play a role in ensuring my students gain them. These skills go beyond disciplinary expertise and standard attributes such as:

• Oral & written communication
• Collaborator & networking skills
• Agility and adaptability
• Empathy and global stewardship
• Professionalism and self-regulation
• Critical thinking and problem solving
• Curiosity and imagination
• Initiative and entrepreneurialism
• Vision for the future.

I feel that there are three more attributes that are not focused on.
• Resilience
• Hope and optimism
• Grit

Resilience – the capacity to recover quickly from difficulties: toughness. This ability to be knocked down by life and come back stronger than ever, not allowing failure to overcome you. But how do I impart this ‘rubber ball’ ability? I decided to myself 3 questions:

• Do I help learners see failure as opportunity for growth?
• Do I encourage and reinforce learners own innate resiliency?
• Do I ensure each and every learner knows “You matter”?

Hope and optimism – confidence about the success of something or about the future, the glass being half full rather than half empty. Winston Churchill’s famous quote describes it well “a pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” Again, I asked some questions:

• Do I role model, teach, reinforce positive self-talk?
• Do I encourage a can-do attitude?
• Do I use examples that portray how others have succeeded or overcome adversity?

Grit – courage and resolve; strength of character. You’ve got to love that word, say it out loud. It’s about perseverance for long term goals and again highlighting this to students.

• How do I give learners opportunities to work on long-term, complex projects?
• Do I assist my students in identifying perseverance?
• Do I acknowledge the rewards of persevering through tough times?

Since asking these questions of myself I have starting to notice positive events, promoted seeking of new experiences, encouraged and role modelled the development of a positive attitude and self-belief and fostered a culture of listening. This has given a focus on my teaching. I have engaged in positive talk, maintained perspectives and developed a positive attitude.

So, what attributes and skills do you think are important and need to be added? How would you / do you develop them? What am I missing here? Let me know in the comments.

Karl McCormack, Lecturer – Accounting & Business

Click here for information on the courses available at Staffordshire Business School

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Do not waste your time with useless SWOT analysis

How to conduct a SWOT analysis perfectly to boost your business!

SWOT is a simple and popular tool for businesses – everyone knows it. Therefore you can find it in a lot of books, blogs or trainings – business students learn about it everywhere. Most entrepreneurs conduct at least one before launching their business, most of which are far from perfect. Most of which are far from perfect.

The secret of the perfect SWOT is the analysis. Which means that you have to invest time and effort. It is not an idea-generation tool. SWOT is a strategy development tool – therefore it is not enough to collect some ideas for each area. SWOT may be simple – but not easy.

Why does your business need a SWOT analysis?

SWOT analysis is a strategy development method – it is indispensable for any new business. Specification of the objectives of the enterprise, identification of external and internal factors that have an impact on the success and positioning yourself in the market – these cannot be achieved without SWOT analysis. Even if you do not write down you have (sort of) a SWOT in your mind. With identification of the strengths and weaknesses it determines every marketing decision.

SWOT analysis is a strategic planning tool, therefore it is a must before starting your business planning. It is not just for new businesses, it is a vital part of any marketing plan. The environment, the customers, the competition are constantly changing, therefore you should update your SWOT regularly. SWOT analysis is a perfect tool to assess the effectiveness and determine the future of the organisation.

When you diversify your business or enter new markets – you need a marketing plan for that. One market – one strategy. B2C/B2B, different countries, digital – the markets are different. SWOT is a tool for strategy development, therefore any new market means a new SWOT.

It is also a good feedback for your team (and for you), it can function as a starting point for team discussions about the future in a specific business situation. Though the factors are mostly factual, their evaluation may be subjective.

You may not always conduct SWOT, but when you do, do it right.

Steps of the SWOT
Identification of the factors. Or data collection. Every SWOT analysis begins with the examination of the company and exploration of its environment: you have to identify the strengths and weaknesses and spot the threats and opportunities outside. Most of the students stop here, but this is a mistake. Because there is one more step.

Scrutiny of the factors (aka analysis). You should evaluate and classify your findings. Are you able to answer these questions:
– Why is this factor relevant? What is the impact of this?
– How can we use this factor in our strategy?

Identification of the factors – sources of information for SWOT
1. Customer data and feedback. The number of prospects, contacts, leads, clients and repurchasing clients. The structure and the activity of your customers. Customer value (Do you know it?) as the most important one. The feedback from customers in any channels: from social media to formal complaints.
2. Performance indicators and team feedback. Production rates, growth, market share, RoI. Campaign indicators: reach, activity (e.g. shares), cost per lead, website data (unique visitors, bounce rate, time spent, shopping cart abandonment), mail/advertising response rates. Personal indicators of your team.
3. Your financial performance – sales results, income, value of the company, investment, or any other information about the financial background and resources.
4. Market research – collect customer information (primary/secondary, qualitative/quantitative). Check forums, blogs, social media. Conduct a questionnaire survey. You can also research the supply chain or any other stakeholder group.
5. Information from the competitors. Public information: price lists, homepages, social media sites, stores and web shops, advertisements, publications, financial reports. Request proposals, use their services.
6. Your mission, objectives, marketing and financial plans, previous analyses.

In the SWOT you summarise your findings by grouping them into four areas: strengths, weaknesses, threats and opportunities. Threats and opportunities are mostly external factors and trends, while strengths and weaknesses focuses on the business itself. The result is something like this:

Click here to download a SWOT template!

Do not stop here. Your SWOT is not ready yet. The SWOT is an analysis, you still have work to do: the analysis itself.

Scrutiny of the strengths and weaknesses
To evaluate them, first you have to answer three questions:
– Is it a competitive advantage?
– Are you really good at this?
– What is the perception of the customers?

High quality products can be a real strength of the company, but if the competitors (or some of them) are producing the same high-quality goods then quality does not differentiate your business. Should you even classify this as a strength? Yes. It is important to understand if you are good at something. Your team also need feedback (Your sales have a 90% closing rate, your customer satisfaction is close to 100% – can you tell your team that they are not a strength for the company?).
However only competitive advantages can give you the upper hand against your rivals. When anyone can achieve this, it becomes a necessity for the market.

Even if you are the best you still can improve. It is essential to understand that you are better than the competitors, but if your customers are not satisfied, you should improve. Can a 40% repurchase rate be a strength? A 4% sales funnel conversion rate? An 85% cart abandonment rate?
You can classify it as a strength – you can be the best with them – at this specific situation. Temporarily. But the decisions should be different in the case of a real strength of the company compared to a competitive-only strength.

It is also vital to examine the perception of customers. An unknown, but existing strength requires different actions than an alleged but non-existent one. Customers can draw conclusions without knowing the facts, for example perceived quality of a product is highly related to its price, country of origin or the retailer. Perceived value (→ satisfaction) of a product is based on customers’ expectations. Cognitive dissonance distorts our perception, customers are not rational.

When you are ready with this, take a look at the whole picture.
Which are the most important strengths of the company? Which are unique? Where to improve, what to communicate? Can the business save money on some strengths?
Can you deal with all the weaknesses at the same time? Is it vital to improve any of them for the survival of the company? Can something compensate the weaknesses?
You can use ABC (Pareto) analysis to classify your factors.

Draw your conclusions for strategy – you can start thinking about the implications here. What are the consequences of these factors to the strategic level of 4Ps? Branding, pricing strategy, communication strategy, product portfolio, partnerships – most of them are determined by the strengths and weaknesses.

Do not forget to communicate / discuss this with your team. It can be important feedback for them, a recognition of their results. You can also set targets with them.

Scrutiny of the threats and the opportunities
As for the opportunities, the most important question is the prerequisites. What should you do to capitalise on them? How can you make full use of all the opportunities? Can you start working on them now? Do you need money, knowledge, licence – or any other resource before you can act? What steps lead the opportunity to become reality?

Threats are more difficult. You should know:
– the odds of their occurrence
– the consequences (potential impact of occurrence)
– ways of prevention / protection

Rank them by importance (multiple the odds and impact): those with high impact or high probability need immediate action (prevention or preparation). The identification of the most vulnerable points will influence your marketing. Focus the company’s resources to the critical factors, and do the easy and obvious only for the rest.
It is also important to examine what you can do. Some threats can be avoided, others certainly become reality sooner or later. The objective of the analysis is to be ready. To understand the options and start acting. Sometimes it is just monitoring the environment and setting up triggers (reacting behaviour) – sometimes it is leading the changes (proactive behaviour).

Do you really need to conduct a quality SWOT analysis?
The real question is this: do you need any marketing for your success? Sometimes business works without marketing or DIY.

But whenever you work with a marketing expert, a consultant or an agency, you have to make sure that they understand your business and goals. SWOT – a quality one – is a good starting point for cooperation.

Andras Kenez, Lecturer in Marketing

Any questions? Email Andras.Kenez@staffs.ac.uk

So you’ve graduated – now what?

5 top tips for new graduates from Senior Lecturer Angela Lawrence

Three years of study have come to an end, exams are over, the university board has sat, results announced and graduation is looming. It can be a worrying and scary time for many graduates as the intensity of those final assessments has been all-consuming for weeks and months. All of a sudden everything is over. There’s quite a gap in your life that you need to fill and you may be floundering and wondering what’s next. If you were smart, you began applying for graduate jobs at the beginning of the year, but even so, you may not yet have bagged the job of your dreams.

Here are a few tips to help you to stay focused on securing the graduate employment that you deserve:

  1. It’s a numbers game

Statistics suggest that 39 graduates apply for every advertised graduate position. So you are up against around 38 ex-students who are applying for the same jobs as you. Don’t be too hard on yourself if it takes a while and you feel like you spend half of every week filling in applications – it’s a numbers game, the more jobs you apply for the better chance you will have of securing the role that’s right for you. Keep believing in yourself and keep on searching through the jobs sites; sooner or later your time will come.

  1. Perseverance is key

Don’t give up – NEVER give up! You have worked hard to earn your degree and you deserve to get a graduate position. Okay, you may have to accept a job that is less than what you want in the first instance, to make ends meet, but do not stop seeking out and applying for graduate positions.  It took three years to get your degree so it may take three months or more to secure that job that you are after.

  1. Keep in work

Work, work, work…and keep working! You may only be working part-time, working to help out a family member’s business or working as a volunteer, but you must keep working. Having that evidence on your CV that you have a strong working ethic speaks volumes to potential employers. Furthermore, you are probably practising a multitude of transferable skills, whatever the role. Skills that employers want to hear about, such as good timekeeping, the ability to work independently or as part of a team, the ability to be trusted, accuracy and attention to detail.

  1. Ask for feedback

If you have applied for a job and had no response within indicated timescales, then ring the company up and ask them if they have shortlisted applications yet. If they have and you are not on the list, ask them if they would mind telling you what the criteria for shortlisting was, so that you know for next time. If you actually got to an assessment board or had an interview, but were not successful in being offered the job, you must ask for feedback. It may simply be that another candidate had more relevant experience, or it may be that you find out it was something that you were lacking, that you could work on before your next interview. It may be the way you interviewed, possibly nerves were showing. So practise makes perfect and you now have that knowledge to help you to prepare yourself better for your next interview.

  1. Network

The saying goes “It’s not what you know, it’s who you know”. This is never more true than in the game of job hunting. It is stated that ninety-three percent of recruiters use LinkedIn for recruitment. So if you haven’t got a professional LinkedIn profile, you’re missing a trick. Join your alumni LinkedIn group and network with alumni who know only too well how hard it is to find that all-important break in the job hunting market. But offline networking can be equally important. Check out the local networking opportunities with your local Chamber of Commerce, and seek out recruitment fairs in your local area or in the region in which you would like to work.

A final tip for Staffordshire University graduates – don’t forget that you have access to our online careers portal, eCoach following graduation. Our Careers Network services are available to you for as long as you need them. Your lecturers and personal tutors will be happy to provide you with references, so good luck and we know you’ll do us proud!

Teaching and Learning: International Cooperation

The Business School has been working with a number of international partners to support their efforts to upgrade the curricula and enhance the teaching and learning experience of their students for many years now. We have had partners in most Central and South East European countries as well as the Middle East. The Teaching and Learning Conference on 20 June provides an opportunity to invite some of our current partners to join us for a day of activities to consolidate the work we have been doing over the year.

Teaching and Learning has always been the focus of attention of our partners mainly because of the contrast between the traditional ‘talk and chalk’ approach, which had been common in almost all our partner universities, and the modern student centred learning or other alternative approaches. The idea of having students sit on different tables in one classroom, doing different activities baffled some of our visiting colleagues (I am sure it still baffles some colleagues in this country). Assessment in any form other than oral exams was dismissed as not sufficiently rigorous and not appropriate at university level.  Group work, presentation, poster making and other methods of assessing students’ work was treated as not serious.

However, over the years, as the relationship with Western universities developed and EU funded programmes aimed at reforming, restructuring and upgrading the higher education systems and studies were implemented, the university environment and attitudes changed too. The change agents were the younger, Western educated lecturers who gradually entered the higher education sector and began to use methods which they had been exposed to during their time at Western universities. In the meantime, the student numbers had soared too. Students had become very choosy and, being technologically more savvy than their teachers, they could access advanced knowledge and information easier than their professors.  Professors, therefore, had to change their attitudes and raise their games to meet the challenges of a larger number of demanding students and modern technology.

Staffordshire University played an important part in the transformation of the teaching and learning approaches in many partner universities, especially in Albania, Croatia, Kosovo and Macedonia. While working with universities in these countries to upgrade their study programmes and enhance the capabilities of their teaching staff, we also trained a large number of their younger staff on our MBA and MSc/PhD in Economics. Almost all of these young graduates have returned to their universities and are contributing to the training of the next generation of economics and business students. Over the years, around 150 young scholars completed Masters and PhDs at SU, constituting a critical mass of knowledge and skill in the region and in some universities. They have been instrumental in bringing new teaching and learning methods to their universities, something that has been particularly appreciated by students.

Currently we have two EU-funded projects working with 11 universities in Kosovo and Albania. Both projects involve supporting their teaching and learning practices and improving their curricula with the aim of embedding employability skills in the syllabi of different courses. We have hosted a range of staff (from Rectors and Deans to senior professors and new lecturers) and introduced them to the Staffordshire Graduate programme and how it is evolving in different schools – and they are very interested in this programme particularly because they face high levels of graduate unemployment in their countries. Some of our colleagues have also participated in either teaching or running seminars for staff on curriculum development activities. Dr Jana Fiserova from the School of Business, Leadership and Economics, Dr Mohammad Hasan from the School of Computing and Digital Technologies, and myself, for example, were recently engaged in these activities in Kosovo.

In the week beginning 19 June, we will be hosting young lecturers from three universities in Kosovo (University of Prishtina, Riinvest College, University of Business and Technology) and two universities in Albania (University of Tirana and Agricultural University of Tirana). Among other activities, they will be participating in the Teaching and Learning Conference on 20 June. They will be interested to learn about our efforts to improve students’ learning experience by using innovative methods, new technology and a variety of assessment methods that encourage student engagement with the subject and with the graduate attributes. They will also share with us their experience of a different group of students and different teaching environment. In some of these universities, staff have to deal with hundreds of students on their modules and, therefore, are eager to find out how we deal with large classes and how they can adopt some of these methods in their settings. At the same time, their experience of working in universities (and countries) with greater resource constraints would also be of interest to our colleagues.

We look forward to the exchange of ideas on 20 June.

Professor Iraj Hashi

School of Business, Leadership and Economics

Join our new Staffordshire University Business School LinkedIn page!

 

School of Business, Leadership and Economics Pride Awards Night

On the 30th March, final year Events Management students Josh Lonsdale, Tom Gater and Lorna Wilde organised and hosted the first (and hopefully not the last) Business, Leadership and Economics Pride Awards evening. Staff and students in the School were asked to vote for nominations in various categories and the event was part of their final year project module.

The evening started with a buffet and bucks fizz and Lorna performing a wonderful selection of songs. We were all blown away with her brilliant singing voice and professional delivery. Isabelle Clarke was master of ceremonies and Lorna, Josh and Tom presented the awards.

The event was for both staff and students celebrating their contribution and impact they have on the School and University. It was held in one of the School’s rooms in Ashley
decorated by the students. As Josh said “it was great to see staff and student support each other hand in hand about the great achievements we had within the school” and It has been a pleasure as final year Event Management students to put on an event that gets to showcase how many talented staff and students are in the school. We hope that this event will be continued by the school and we hope that the other schools may take the initiative to host a similar awards ceremony.”

The evening ended with Lorna again singing, this time ‘Somewhere over the Rainbow’ and ‘On My Own’ from Les Miserables especially for Carol and Angela. There was not a dry eye in the house – at least from Carol, Angela and me!

  

The winners of the awards were:

Exceeding Expectations Award

Given to a student who has gone above and beyond during their time here at the Staffordshire university Business School.

Dee  Rahmat

Commitment to Excellence Award

Awarded to a staff member who consistently and proactively help raise the reputation of not only the Business school but also Staffordshire University.

Karl McCormack

Outstanding Leadership Award

Awarded to staff members who lead students and or staff to achieve improved results across the Business school but also Staffordshire University.

Alison Maguire

Student Honours List

Awarded to students who have had a positive impact on Staffordshire University and the Business School throughout their studies.

The Hult Team, Daniel Griffiths, Danielle Nugent , George Balshaw and Sarah Wright

Future Leader Award

Awarded to a student who encompasses of the Staffordshire Graduate Attributes.

Henry Greentree.

Community Partnership Award 

Awarded to a member of staff who with the community while maintaining a positive image of the Business School at Staffordshire University.

Carol Southall

Exceptional Contribution Award

Awarded to a member of staff who has contributed to not just the business school but Staffordshire university for several amount years

Anni Hollins

Future Leader Award

Awarded to a member of staff who has developed an original and contemporary assessment with positive feedback

Angela Lawerence

Written by Anne Harbisher

So how can Snapchat be worth over $20 billion?

Snap Inc, the parent company behind the disappearing images app Snapchat, has just floated on the New York Stock Exchange at $21.44 per share valuing the company at around $20 billion (yes, billion, not million dollars), making the founders Evan Spiegel and Bobby Murphy multi-billionaires. Not bad when you are not yet thirty.

Snap Inc’s shares jumped over 40% in early trading at the beginning of March, valuing the company at some $28 billion but a week later after some profit-taking by investors, dropped back 10%. So what, you might say, but Snapchat despite having 160 million daily users managed to lose $372 million in 2015 and over $500 million in 2016. Its trading loss 2016 was even more than its turnover, which takes some doing. It has never made a profit.To put Snapchat’s valuation into perspective, the company is now valued at more than the combined market valuations of established (and profitable) retailers Next, and Sainsbury’s. Is this all social media hype or will Snapchat become the “new” Facebook, currently valued at $393 billion, three times its valuation when it first became a public company in 2012. Snapchat has a long way to go – Facebook’s turnover in 2016 was $28 billion, some 70 times those of the “upstart” Snapchat.

Optimists will argue that share valuations are all about future, not past, profitability but, of course, the future is uncertain and Snapchat, which is only accessible by mobile phone, faces many challenges to justify such a massive valuation. When Twitter floated in 2013, it projected massive growth and plans to sell adverts to its large user base but three years on it is deep in the red and its share price has collapsed.

Snapchat’s unique selling proposition is that it is seen as “cool” and having 160 million daily users, up 48% on the previous year, is certainly impressive. But can Snapchat turn this mainly young and perhaps fickle audience into profitable customers generating substantial advertising revenue as successfully as the now-mainstream players, Google and Facebook? Can it compete with and emulate these big boys who have very deep pockets – particularly its more direct competitor Facebook, who own both Instagram and WhatsApp – or will it end up like the now-forgotten MySpace and Tumblr?

Only time will tell.

Paul Hammett BA, FCMA, FCMI, PGCHPE

Senior Lecturer

School of Business, Leadership and Economics at Staffordshire University

Simple ideas to change your mindset

Our mindset is made up of our beliefs, ideas and attitudes. Thinking about our mindset can help us adapt and change it.

Every now and again I catch myself being negative. That little inner voice suggesting I can’t do something or that something is too hard. Recently during my personal tutoring sessions, I have seen this in students as well. I decided to explore a change in mindset, to change the way we look at things. With an open mind and a realisation that this may take some time and effort I looked into how to change.

word-brain

 

What can I say to myself?

Instead of…… Try thinking……..
I’m not good at this What is it I am missing
I give up! I’ll use some of the strategies I’ve learned
This is too hard This may take some time and effort
I can’t make this any better I can always improve, I’ll keep trying
I made a mistake Mistakes help me learn and improve
I’ll never be as smart as her I’m going to figure out what she does and try it
It’s good enough Is this really my best work?
I just can’t do this I am going to train my brain
Plan A didn’t work Good thing the alphabet has another 25 letters or There’s always Plan B

 

connections-graphic

 

And the more I explore this in myself the more I see in colleagues either a fixed mindset or growth mindset, the more I became aware of myself, the more I noticed who I wanted to hang out with.

Characteristics related to a growth mindset and a fixed mindset

Fixed Mindset Growth Mindset
Resist learning new technologies, oppose change almost instinctively Excited to learn new technologies, embrace change
View setbacks as a reason to give up View setbacks as a challenge to overcome
Simply don’t do things that they determine are too hard Ask for help when they need it
Feel threatened when others succeed, resent having to work with others Collaborate with colleagues, look for ways to ensure everyone’s success and learn from other’s successes
Resent being asked to do anything they view as extra Willing to put in time and effort to succeed
Ignore any negative feedback or criticism Use negative feedback as a way to improve performance
Actively resist any new challenge Constantly seek to improve performance
I feel like feedback is personal I feel like feedback is constructive
My abilities determine everything My effort and attitude determine everything

Imagine being able to create a mindset in students and colleagues that allows growth. People who are not afraid of change, open to new ideas. People who are excited by the possibilities of new tools and technology. People who share a growth mindset.

Oh if only it was that easy. Read a few charts, change the way you think and (if you have an Uncle Bob) Bob’s your uncle! But it’s not easy, change is hard, this is who I am…

Wait…… yes it will take time and effort, I may need some help. But it’s who I want to be, it’s who I want my students to be!

 

Karl McCormack  BA (Hons), PgCHPE, FHEA

Accounting Awards Course Leader.

Visit our website to find out about Accounting and Finance Courses.