‘Made in Dagenham’

By June Dennis, Dean of Staffordshire Business School

In 1968, some 50 years ago, a group of women machinists at Ford Dagenham went on strike and campaigned to be recognised as skilled workers.  The women trained for 2 years as machinists but were paid just 85% of what male unskilled workers received.  Although they only achieved partial success – the women did not get upgraded but received an increase in pay to 92% of what a male cleaner would earn – this well publicised campaign was considered a major stepping stone in the establishment of the Equal Pay Act of 1970, now superseded by the Equality Act 2010.

I recall watching the film ‘Made in Dagenham’ about the Ford Dagenham workers some years ago whilst on holiday with my two daughters, then aged 15 and 12.  As we discussed the film afterwards, I realised even then that it was going to be one of those defining moments in their development.  It also gave me an opportunity to tell them of some of my experiences. For example, as a final year student at a job interview I was asked ‘shouldn’t you be warming your husband’s slippers by the fireplace rather than working here’.

Dr June Dennis - the new Dean of Staffordshire Business School

June Dennis – the new Dean of Staffordshire Business School

Later in my career, I recalled being told by a very well meaning male colleague that I hadn’t been given the role as link tutor for a partner in India because I had a young family and might not be able to cope with a couple of trips abroad.  I was also able to tell them about my parents being role models – both were nurses and on the similar pro-rata salaries for much of their careers, although, it was my mother who worked part-time and unsociable hours to fit around the family.  I started my own business and subsequently became a lecturer because I could not maintain an international marketing role with a young family.  Neither of my daughters had been aware that such discrimination had existed to such an extent nor that their aspirations might still be curtailed by social and workplace norms about gender roles.  Some seven years later, both are intelligent, articulate and confident women who are already role models to younger teenagers.

This year, around 10,000 organisations with more than 250 staff were required to publish data about their gender pay gap on a Government website.  The results, released in April 2018, showed that there are still stark differences in the amount women get paid compared to men and also in the proportion of women on higher incomes within organisations.  The median pay for women is nearly 10% lower than for men and some 78% of organisations pay men more than women overall.  Smaller organisations, with less formal pay structures may have even greater variances.

Some 50 years on, it is less likely that a woman will be paid less for the same job, although the recent revelations about the pay of BBC staff demonstrates that this still exists. However, some of the pay difference can be attributed to the fact that women are still more likely to take part-time and lower paid jobs which they can work around other commitments.  This may be by choice or by necessity.  Career breaks also have an impact on overall salary.  However, there are still many structural inequalities of opportunity and social barriers that hinder progression for those women who wish to progress.  Such barriers include expectation to attend early morning or ad hoc late meetings, ‘golf course’ business networking events, requirement for overseas travel when promoted and, more subtly, expectations from friends and family – I don’t recall any well-meaning friends questioning my husband about his family loyalties when he had to work away from home, for example….

Until societal views permit both men and women to choose whether they want to work full or part-time, progress up the ladder or not or take parental leave or not, then I suspect any legislation will have limited impact on these statistics.

Contact June at june.dennis@staffs.ac.uk 

 

Recent Trends in Microfinance

The term Microfinance is derived from the word microcredit which means “small credit” in simple terms. However, with the expansion of services from Microfinance Institutions (MFIs), different people, agencies, and institutions have defined Microfinance differently. Generally, microfinance is defined as the provision of financial and non-financial services from microfinance institutions to low-income households and small business who were excluded by commercial banks.

The term Microfinance now covers a wide range of product and services such as microloans, savings, insurance, and remittance. Some scholars believe that the first formal microcredit institution was “Grameen Bank”, which was established in 1976 in Bangladesh by Dr Muhammad Yunus, a Nobel peace prize winner in 2006.

The term Microfinance covers a wide range of product and services such as microloans and savings.

The institution was set up as a non-profit institution to provide small credit, especially to women in the rural part of Bangladesh because it was difficult for them to receive loans from commercial banks. Over time, Grameen Bank grew in popularity and customer base and more MFIs started to emerge following the Grameen Model.

What is the Grameen Model?

The Grameen Model was created by Grameen Bank of Bangladesh which has currently the widest replication in many developing countries across the world. In Grameen model Five unrelated, self-selected prospective borrowers are formed and required to make a savings deposit and payment on a loan at given period. The institution does not evaluate these loans as individual loans but as group loans and also leaves members to do most of the management and financial services.

First, two members of the group will receive the loan and then the group members determine the rotation of access to credit, and after timely repayments, an additional two members receive loans. If any member in a group fails to make an installment payment on time, then the borrower or group will be cut off from the future borrowing. However, if the borrower/group makes payment on time and in an orderly manner then bigger loans are granted in the future.

The Grameen model provides credit to the very poor in rural areas without requiring any collateral. The model also has low transaction costs and focuses on women. The Grameen Bank approach is currently being applied in many countries. A few of such countries are Bhutan, Bolivia, Burkina Faso, Chile, Guinea, India, Indonesia, Kenya, Malawi, Malaysia, Mali, Nepal, Nigeria, Pakistan, Peru, Philippines, Sri Lanka, Vietnam and Zambia Some developed countries like Canada, France, and the U.S., have also adopted a version where it is being used to help people become income generators.

Trends in Microfinance

Microfinance Institutions (MFIs) have had global influence and spread around the globe because microfinance has been regarded as one of the effective tools for fighting poverty. Initially, MFIs depended on donations, grants and government subsidies. However, in last decade, some microfinance institutions have realised that they might need to make a profit to provide continuous service, cover their administrative, financial and operational cost, and also budget for the future development without needing any government funds or donations.

In recent years, MFIs have been focusing slightly more on their financial side and as a result, the industry is moving towards profit-oriented MFI’s which means that these MFIs are applying market-based principles. This implies that we have had three stages of MFI’s since their conception which can be seen from the following figure.

Trends in Microfinance Institutions

Some of the first microfinance institutions to adopt the profit-orientated approach were Bank Rakayat Indonesia (BRI), K-Rep in Kenya, Mibanco in Peru, First Microfinance Bank (FMFB) in Pakistan, and CARD Rural Bank in the Philippines. Similarly, PRODEM, the leading Microfinance NGO in Bolivia, transformed into a financial bank called BancoSol.

In conclusion, although MFIs were established as non-profit institutions to provide social services, it seems that microfinance institutions are becoming more like profit-oriented institutions for various reasons.

Sanjib Sherpa (sanjib.sherpa@research.staffs.ac.uk) is currently undertaking his PhD study at Staffordshire University in the area of Microfinance under the supervision of Dr Tolu Olarewaju.

THE BIGGER PICTURE: BREXIT SPEECH VS DONALD TRUMP’S TARIFFS

On Friday, 2 March 2018, at the Mansion House in London, Theresa May delivered her most comprehensive Brexit speech to date. It was a speech designed to bridge the divide between Remain and Leave voters as she tried to explain Britain’s future relationship with the EU.

To international business economists like myself, this was a welcome speech, with very insightful details into how Britain was looking to trade with the EU and other countries after D-day a.k.a. “Transition Period“. The Prime Minister spoke about approaching a crucial moment in the negotiations and specified that existing models like the Norway model would not work because that would mean having to implement new EU legislation automatically and, in its entirety and would also mean continued free movement.

A Canada model would also not be suitable on World Trade Organisation terms because that would mean customs and regulatory checks at the border and damage the integrated supply chains of both EU and British firms – inconsistent with the commitments that both Britain and the EU have made in respect of Northern Ireland.

The most positive thing about the speech however was its tone. It was in many ways a call to partnership and not protectionist mantra. Mrs May is right in many aspects but in one key detail in particular.

 

When other countries seek to become part of the EU, they have to make their laws, regulations and standards align with those of the EU. In this case however, Britain is already aligned with the EU. What Britain wants is some leeway to be different in certain respects. When Britain leaves the EU, the Withdrawal Bill will bring EU law into UK law.

In the future, Parliament might choose to pass an identical law to EU law in some cases – when businesses who export to the EU indicate that it is in their interest to have a single set of regulatory standards that mean they can sell into the UK and EU markets. If Parliament on the other hand decides not to achieve the same outcomes as EU law, it would be in the knowledge that there may be consequences for British market access.

 

 

TRUMP’S PROTECTIONIST TARIFFS 

A few days after the British Prime Minister’s speech, the US President, Mr Trump signed an order for a 25% tariff on imports of steel and a 10% tariff on aluminium into the US, saying some exceptions will be made for Canada and Mexico, prompting fears of trade war. While the US steel industry is obviously happy about the plans, it seems everyone else is upset.

Recall that Mr Trump campaigned on saving US steel and aluminium jobs, which have been lost to cheap foreign imports. But these tariffs threaten to undermine decades of agreement in international trade and have split the Republican party. There was no congressional member of his own party present for the White House announcement.

The US President is planning tariffs on $60bn worth of Chinese goods, in part because of alleged Chinese theft of intellectual property – which means design and product ideas. The White House said it has a list of more than 1,000 products that could be targeted by the tariffs of 25%. Companies will get a chance to comment before they are put into effect. Mr Trump wants to cut the trade deficit with China – a country he has accused of unfair trade practices since before he become president.

Officials from China and Europe have threatened retaliation. Richard Warren, head of policy at UK Steel, said the US was a significant export market for British producers, accounting for around 15% of UK steel exports. “This really does throw a spanner in the works” he said. The European Union has indicated it could retaliate, potentially starting a trade war with the US.

 

 

European Commission President Jean-Claude Juncker said: “We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk.” “I had the occasion to say that the EU would react adequately and that’s what we will do.” “The EU will react firmly and commensurately to defend our interests. The Commission will bring forward in the next few days a proposal for WTO-compatible counter-measures against the US to re-balance the situation.”

It’s not just Europe and the UK that have voiced concern, Australia’s trade minister said it will distort global trade and cost jobs. He also highlighted the risk of retaliatory measures as Asian exporters sought more detail on the plans.

 

 

AN OVERVIEW

trade war is when countries try to attack each other’s trade with taxes and quotas. One country will raise tariffs, a type of tax, causing the other to respond, in a tit-for-tat escalation. This can hurt other nations’ economies and lead to rising political tensions between them. This is a form of protectionism. Protectionism is trying to use tariffs to boost your country’s industry and shield it from foreign competition.

trade war will be bad in this scenario, but Mr Donald Trump does have a point. China has been flouting international property rules and will have more to lose in a trade war. This flouting of international property rules has also resulted in a huge US trade deficit with China.

No party wants a trade war. Britain’s tone on Brexit is much softer and open to compromise. The US tone on trade seems to indicate a much tougher stance. Analysts might argue that this is because one side has more to lose than the other. Maybe what all sides need however is a more reconciliatory tone. Partnership will be better than conflict.

On Monday, 2nd of April 2018, China imposed tariffs of up to 25% on 128 US imports, including pork and wine, affecting some $3bn (£2.1bn) of imports. Beijing said the move was to safeguard China’s interests and balance losses caused by new US tariffs. The markets fell as a result, International Business Economists continue to monitor the situation.

Dr Tolu Olarewaju is a lecturer in Economics at Staffordshire University. For more information on International Business and Business Strategy courses at Staffordshire University, please visit www.staffs.ac.uk.

 

 

Evaluating the potential of public policy to jointly promote firms’ exporting and innovation – new PhD for Ema Talam

Ema Talam - a new PhD student in the Business School

Ema Talam – a new PhD student in the Business School

Ema Talam has recently joined the Business School to start research for her PhD.  Her topic is “Evaluating the potential of public policy to jointly promote firms’ exporting and innovation”, supervised by Dr Mehtap Hisarciklilar-Riegler and Professor Geoff Pugh.

Ema completed her Bachelor’s degree in the field of management at the School of Economics and Business of University of Sarajevo (Bosnia and Herzegovina) and received the Golden Badge of the University of Sarajevo for her accomplishments.

Ema then completed her Master’s degree in Economics at the Faculty of Economics of the University of Ljubljana (Slovenia). Her Master’s thesis explored the link between (un)employment, income and ethnic tensions and was titled “The link between ethnic tensions and unemployment in multiethnic countries: The case of Bosnia and Herzegovina”.

At the beginning of 2018, Ema has received the Preseren Award of the Faculty of Economics of University of Ljubljana for her Master’s thesis. Ema has attended several other notable educational programmes, such as the International Summer School in Human Rights at University of Oslo (Norway) in 2014. So far, Ema has written and published two papers that covered two distinct topics: “Socialism and Marxian economics: An overview” and “The link between globalization and gender equality”.

Currently, Ema is surveying the literature. Generally exporting and innovation are treated as separate activities. Only a small portion of the literature recognises that the link between the two exists and explores the link between exporting and innovation (i.e. how exporting influences innovation and vice versa). Furthermore, public policies aimed at promoting exporting and innovation are directed towards just one of the activities. Numerous studies have evaluated the effects of such policies.

The research will examine the links between exporting and innovation. The research will explore how exporting and innovation affect firm performance, both when undertaken separately and jointly. Furthermore, it will analyse the impact of public policy support on exporting and innovation activities.

Finally, based on the all of the previously stated, the research will examine the implications of findings for policy and institutional design. The focus of this examination will be to explore whether programmes for firms aimed at supporting exporting and/or innovation activities should be designed and implemented jointly or separately.

Ema is on linkedin here

or email her on t028882h@student.staffs.ac.uk.

 

8 Trends To Keep Your Eyes On In 2018

1. Instagram Stories Drive Upcoming Instagram Trends

Instagram Stories is a big deal and they’re not going away. Daily viewers of Instagram Stories surpassed daily SnapChat viewers just one year after launch, and the growth isn’t stopping.

Instagram Stories was likely the biggest single change in the Instagram UX, and its marketing implications are huge.

A huge deal with Instagram Stories is this: accounts with over 10,000 followers can now add a link within the feature. Considering the fact that the only other place you can put a link on Instagram is just the one buried on your profile page, this is a huge deal, as it multiplies buying or inquiry opportunities by orders of magnitude.

Instagram Stories in particular will be relevant from a marketing perspective because, compared to other transitory video platforms, Instagram metrics are eminently trackable.

A final note on Instagram Stories: Their foundation is social media engagement gold. Video drastically outperforms all other forms of content on every test.

2. Influencer Marketing Makes Major Contributions to Social Media Engagement

Influencer marketing is big business — a billion dollar industry by some counts. There is an exhaustive list of micro-celebrities who earn six figure incomes. And this isn’t a fluke. Influencer marketing is uniquely keyed to exploit certain facts about a growing number of buyers.
As Millennials advance their careers, and Generation Z starts theirs, an enormous population’s purchasing power is increasing swiftly. These two groups — who, combined, literally comprise most of the world’s population — are uniquely influenced by this marketing method.

3. Generation Z to Decide Social Media Trends

We’ve mentioned Generation Z in both of the previous topics for good reason.

RetailDive had this to say about Generation Z and their associated social media trends:

“Gen Z is two- to three times more likely to be influenced by social media than by sales or discounts — the only generation to value social media over price when it comes to making purchase decisions…”

Furthermore, 81% report watching at least one hour of online video per day, or more, according to a study by Fluent, covered by AdWeek. Combine these facts and realize that droves of Generation Z will graduate college and/or start careers next year, and you start to see the powder keg.

4. Messaging Platforms Make Companies Accessible

 

What do you know about WeChat? They’re a wee little Chinese messaging company . . . errr, one that’s looking to cross 1 billion users this quarter. WeChat and WhatsApp are absolutely ubiquitous across either ocean, reaching across many different functions to dominate social media, direct messaging, and even purchasing and commerce.

Every year more and more buyers are Millennials and Gen Z, and fewer and fewer are older. In case you’re not aware of these people’s overwhelming preferences when it comes to talking to a company, we’ll illustrate in their native language:

top-social-media-trends-20185. Live Streaming Explodes

Live streaming isn’t about live streaming. At least not in the way we’re going to be talking about it. You’re going to see a lot more of it in 2018, and the people who do it well will be fully with the times and accelerating. Its prevalence will increase because it works.

But there’s something more at work here.

It’s actually about technology. We get better phones every year. Does that mean that we’re running the same apps better? Sometimes. But once the technological baseline of the average user has clearly moved up a notch, it becomes about making more robust apps that do more and fully take advantage of that new technology.

The smartphones of today are better than what we used to have by orders of magnitude. Furthermore, our data speeds are better, and are poised to make yet another insane leap in the next few years when 5G becomes the standard.

Live streaming is a medium or implementation of social technology that’s uniquely positioned to take advantage of hardware improvements for the next several years. The resolution of an image the size of a phone screen can only get so good before you have to zoom in to see a difference.

But better video processing across the board means all devices involved can handle more streaming at a better quality across more channels at the same time. This is such a huge change that it’s possibly unclear that anyone is even capable of fully understanding the ramifications.

6. Twitter is Going to Change

And they themselves might not even know how just yet.

Twitter has been slowly circling the drain, in some respects, for a long time now. 2017 pulled no punches with the social network, either. Twitter needs to make some big changes to stay relevant, as its growth is the slowest of all the major social media platforms.

7. Online Hangouts Become the Norm

Online hangouts go hand-in-hand with the live streaming trend, and with Generation Z. Consider Houseparty — an app for multiple friends to essentially FaceTime with each other in a group setting.

Houseparty made quite a wave in 2017 with rapid growth, and hit its stride well enough to inspire copycats, including perhaps an effort on the way coming from (no surprise here) Facebook.

The online hangouts trend is also going to intersect with VR. Sure, everyone promised everything this year with VR and AR, and all that ultimately came of it was two weeks of Pokemon GO.

But this year actually has the potential to be different. Many promising programs have another year of beta testing still left under their belts, but the technologies are improving in exciting ways. Once again, Facebook is at the epicentre, with Facebook Spaces.

8. Social Platforms See More Hardcore Moderation

The last year or so has forced the hand of several tech and social media titans to intervene and play a more active role in content moderation. Those manoeuvres, in retrospect, felt more like damage control than any sort of final solution.

We’re likely going to see companies revisit this in a more significant or longer-lasting way, and definitely more proactive than reactive.

As leveraging social media outlets for marketing first took flight, some were dubious of their staying power. The years since have changed sceptic’s into believers, and what’s on the forefront will clearly and easily amplify the channels’ relevance even further.

2018 is here… but were you prepared?

2018 social media trends predict that time on social media platforms will increase. This means you will need to improve your online presence in the year to come.

 

By Richard Holland – MSc Digital Marketing Student

 

Contact –

Linkedin- Richard Holland

Instagram – Ricardo J

Brand –

Instagram – Ricco London

Twitter – Ricco London

Facebook – Ricco London

E-mail marketing or Messenger marketing?

What Email Marketers are saying

When it comes to email marketing software, marketers are spoilt for choice. But how do they feel about the emails they send?

It turns out that relevance is a huge concern for them. DMA reports that 42% of marketers say only some of the emails they send are relevant, and a whopping 10% say their emails aren’t relevant at all. That’s an issue, with consumers trashing irrelevant email.

Another issue people wonder about is the ROI of email marketing. In other words, is it really worth it? Various comparison’s of email marketing vs social media shows that email outperforms social by miles. And Chief Marketer says the ROI of email marketing is 28.5% better than for direct mail.

So what does Messenger do better?

Well, the big problem with email marketing is that you’re talking at your users and potential customers, not with them.

It’s kind of like being on the receiving end of a sales pitch, one where you have no say until the salesman is finished leaving you with only one response, yes or no.

Messenger though, creates a conversation.

It’s the only channel that solicits real time feedback from your users, the only channel where they have a say and shape the conversation which builds interest and engagement.

Check out the below example from 1800-flowers.

What Does the Future Hold?

Email is a mature channel, one which has been extensively developed and includes various advanced features to help you better market to your customers.

Messenger on the other hand is the new kid on the block.

It’s showing great promise and is getting far higher engagement in the areas where they’re going head to head, but it’s not yet at the level of sophistication email has developed.

Messenger is quickly gaining ground on email in terms of features and is already outpacing the platform in the areas where there’s overlap.

So what should a smart store owner like you do?

Well, what you shouldn’t do is abandon email marketing in favour of Messenger. Right now Messenger simply doesn’t have the advanced functionality and tracking of email.

However, if you already haven’t you should be looking at implementing Messenger on your site ASAP.

Right now, Messenger is the perfect complement to your email marketing. And if the last year is any indication, in the near future Messenger will continue to outperform email in other key marketing and communication areas for ecommerce as the platform progresses.

Right now, if I had to advise some specific campaigns your store needs to be running I’d recommend focusing on:

Messenger isn’t just a nice thing to have on your store or a new fad that will die out. The success rate of stores across the globe and the growing user base points to a new channel that might one day overtake email as the chief ROI channel.

In conclusion:

Email marketing and social media are like parallel universes that communicate with each other.

We suggest using email marketing when you’re looking more for reach, traffic and direct conversions. Social media, on the other hand, is a great tool that can help you engage your audience and assist you with making more sales.

There is no reason why you shouldn’t use both. Just be sure to allocate your resources the right way. Thank you for reading this blog and please leave your comments below.

 

By Richard Holland – MSc Digital Marketing Student

 

Contact –

Linkedin- Richard Holland

Instagram – Ricardo J

Brand –

Instagram – Ricco London

Twitter – Ricco London

Facebook – Ricco London

New book co-authored by Prof Iraj Hashi – Spanish Sociedades Laborales—Activating the Unemployed

Spanish Sociedades Laborales—Activating the Unemployed- A Potential New EU Active Labour Market Policy Instrument by Jens Lowitzsch, Sophie Dunsch,  Iraj Hashi

 

This book investigates the potential of the Spanish Sociedades Laborales (SLs) as an instrument of active labour market policy for re-turning the unemployed to the labour market. SLs are  mostly small and micro enterprises and a qualified form of the conventional corporation, majority-owned by their permanent employees. Unemployed persons can capitalise their unemployment benefits as a lump sum to start a new SL or to recapitalise an existing SL by joining it. This makes SLs similar to start-up subsidies for the unemployed, an established instrument of active labour market policy across the EU. This book examines the function and success of existing SLs and explores the transferability of the scheme to other EU Member States.

It tackles two widely discussed policy issues at both the EU level as well as the national level: firstly, the reactivation of the unemployed into work, and secondly the encouragement of employee co-ownership in the context of the economic reform agenda, in particular with regard to corporate governance, regional economic stimuli and distributive justice.

https://link.springer.com/book/10.1007/978-3-319-54870-8

Social Media And Our Communication Skills

Social media opens vast possibilities for finding connections and interactions. It also is a very powerful tool to communicate ideas. The uprisings that we have observed during last years in various parts of the world were all organised by people getting together in social media platforms. Once the message is out, it can spread to millions within seconds. The latest #metoo movement on social media was so effective that it has been selected to be the 2017 Times Magazine person of the year.

However, this popularity comes with a cost. More connection does not imply more interaction. Having grown up with social media, the new generation prefers to communicate through an online platform than to have a face-to-face conversation. Real-life interactions, however, teach us aspects of non-verbal communication: being able to read and respond to facial expressions, eye-to-eye contact or changes in tone of voice. These abilities could easily be lost in digital communication. Besides, experts relate the rising occurrence of depression, anxiety and isolation among youngsters with their excessive exposure to social media.

While communicating through social media, we often do not feel the need to form grammatically correct complete sentences. This is particularly common for youngsters and teenagers who heavily rely on emoji, acronym or short expressions. However, over time, this convenience is likely to weaken their ability to write and to communicate in formal environments. In a world becoming increasingly competitive, these skills will be the essential assets for success.

So, while we are enjoying the benefits of social media, we need to remember that the real-life friendships and face-to-face interactions are equally valuable. A balanced use of digital and face-to-face interactions can immensely expand our communication capabilities and help us to utilise our full potential.

Mehtap Hisarciklilar-Riegler, Associate Professor, Staffordshire Business School

Why do women still earn less than men?

In the nearly fifty years since the passing of the Equal Pay Act the gender pay gap in the UK has proved to be stubbornly resilient. What has changed is the way economists try to explain its existence and persistence. Fifty years ago economists used to explain differences in wages predominantly in terms of differences in experience, education and training, what collectively they termed ‘human capital’. Whilst they recognised that luck, nepotism and discrimination may be important, differences in human capital were thought to be the dominant determinant of wage differentials. It was, however, recognised that female workers were typically crowded into a narrower range of occupations and industries than males. Moreover, whilst glass-ceilings constrained many female employees’ ability to move up the job-ladder, it was also evident that employers tended to place a low premium on caring skills, which traditionally have been more associated with female workers.

More recently economists have established the importance of non-cognitive productivity-related characteristics, such as motivation, resilience and initiative, in explaining differences in wages. In terms of explaining the gender pay gap this opens up three intriguing possibilities. It may be that females are, on average, less endowed with those productivity-augmenting characteristics. This may be the result of nature or nurture and here the findings that single-sex schooling may be related to lower gender pay gaps is of interest. An alternative hypothesis is that females may have, on average, different preferences, placing a lower relative value on the monetary benefits from working. A third possibility is that employers do not reward males and females similarly for a given non-cognitive characteristic. Behaviour which is seen by employers as positive when undertaken by males, such a providing leadership in group discussion, may be viewed as indicative of a poor team-player when evident in a female employee.

If we are serious as a society about eliminating the 18 per cent gender pay gap then it may be time to pay less attention to altering the behaviour of female workers and spend more time creating more male homemakers.

Nick Adnett, Professor in Staffordshire Business School

The Economic and Social Impact of Stoke City FC

The English Premier League is a global brand. Stories abound of travellers from Stoke-on-Trent travelling to far flung corners of the earth, getting into a cab, pub, or conversation and being asked; “Where are you from?” the traveller responds; “I am from Stoke” only to be told; “I know Stoke FC!”, a list of players is usually reeled out including Peter Crouch and co, and from then onward, the conversation takes on a new dimension of familiarity and friendliness.

Peter Crouch Goal Celebration

 

English Premiership Clubs have fans in all corners of the world. Jerseys are sold in Africa, Asia, the Americas, Europe and Australia. Matches are watched on all sorts of devices and football players are household names with kids dreaming of growing up to be like their heroes or even just meeting them someday.

 

Beyond the pitch however, there is another dimension that is closer to home. Football clubs are generating huge revenues and investing these in a variety of ways with a huge impact to their local economies. For example, Stoke FC’s revenue was £11 million in the 2007/2008 football season and then Championship promotion boosted the Club’s revenue even more from commercial, match day and broadcast streams. In the 2015/2016 Stoke FC’s total revenues rose to £119 million, making them the 9th in the Premier League. The growth in the Club’s income since joining the Premier League has enabled it to significantly increase its investment in the region and grow the profile of the Club and the city at home and abroad.  Some key regional and social impact statistics for Stoke FC for the 2015/2016 season are shown in Table 1.

 

Table 1: Key Regional Economic and Social Impact of Stoke City FC Statistics (2015/2016 Season)
2,391 international visits
119,000+ domestic tourists
£7 million visitor spending
301 direct Club employees (FTEs)
£1.3 million spent on local community initiatives
£29 million spent on Club supply chains (some local)

 

In addition to the impact highlighted in Table 1, the Club has also expanded its stadium to boost match day attendance and attract more visitors to the region, invested in players from the UK and abroad to extend the reach of its fan base to other areas of the globe, invested around £4million into its academy providing local young people with opportunities to develop their football careers at the Club, and invested in the Community Trust to work with the wider community to target individuals who want to get back into education, employment or generally improve their health or mental well-being.

 

Not only does success on the pitch attract visitors to the region who spend on travel, accommodation and food and drink, there is the indirect effect from the supply chain and the induced impact from increased employee spending. Analysis from Ernst & Young LLP shows that Stoke City FC generated a total Gross Value Added contribution of 132 million to the region during the 2015/2016 season. £108 million was directly contributed via the club and its tourism, a further £13 million was generated via indirect effects in local supply chains and £10 million was generated via induced effects. This activity also attracts businesses to locate their operations within the area.

Staffordshire University students and staff with Tony Scholes (CEO of Stoke FC)

 

Granted that a lot of the players might not live in the region, the activities of Stoke City FC resulted in an estimated £66million total liability to the Exchequer in 2015/2016. The presence of Stoke City FC also supported many FTE jobs in the regional economy during that period. 301 people were directly employed by the club, 853 people were employed by relevant supply chains, 401 people were employed via tourism to watch Stoke FC, and a further 682 were employed because of induced effects.

 

Beyond these, the Club supports a variety of initiatives to improve the lives of individuals and communities, working with a number of stakeholders including schools, local government and wider supporting organisations (e.g. the premier league). Community activities are delivered by Stoke City FC’s Community Trust (SCCT) which was founded in 1989 and became a registered charity in 2004. Ernst & Young LLP estimate that around 10,900 people have participated in community and charitable programmes in 2015/2016. 119,600 day trips were organised and 304 people have gained at least one qualification as a result of the Clubs initiatives. During the period under review, 10,246 hours of volunteering community work was done with the result of £8.7 million savings for the local community on physical wellbeing and £2.9 million savings on mental well being from increased physical activity.

 

With these key statistics, it is not hard to cheer for our local team. The sporting and commercial success of the Club in recent years, which includes breaking their transfer record twice in the 2015/2016 season, has allowed Stoke FC to further embed itself as a key member of our local economy. We at Staffordshire University will continue to cheer for the club. You should do the same too 😊😊😊!!!