Category Archives: SMEs

Need help with Digital marketing in 2022?

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We are now offering again the opportunity for a student placement to assist you with your digital marketing needs. This placement is credited as part of their course MSc in Digital Marketing Management

To get our Masters students ready for the industry we have two modules:

  1. ‘The Management of a Digital Marketing Project’ – this module will prepare a tri-partite agreement between the student, the academic staff and the organisation as to the focus of the project, existing benchmark measures, what is to be achieved and how to make the project sustainable (so that it can continue after the student leaves). This is carried out between January to March/April
  2. The Work Based Digital Marketing Project – a credit work experience (450 hours) to deliver the project with the organisation concerned. (April to August)

The project can be in any type of organisation e.g. private sector, public sector, charity or a university. It is not essential for the work project activity to take place at the premises – many of the projects have been remotely delivered due to COVID.Here’s a blog with examples of previous projects our students have completed.

We have built in flexibility to the work-placement so it could be that you would like a portfolio of tasks to be completed rather than just one main project. Examples could be – creation of a digital marketing strategy, SEO audit, PPC campaign and re-launch of social media, budget and investment plan for marketing, devising and implementing a training plan for existing staff.

Below are some of the current students – either reach out to them directly or contact me jon.fairburn@staffs.ac.uk

Felix O’Gorman

After studying a BA(Hons) in Sound Design in London, which I received a 2:1 in. Before that I obtained all Distinctions in Digital Media at College. I am now working towards achieving a MSc in Digital Marketing Management. I have a range of experience creating various forms of digital content whether that has paid or volunteer. With this, I have been able to sharpen my skills in Adobe, Microsoft Office and other industry standard software, such as Pro Tools. I’ve always had a keen interest in technology, as well as social media which has given me excellent computer skills.

Felix O'Gorman
Felix O’Gorman

While I am currently working in C.E.X, I have also worked in a variety of small businesses which have given me multiple transferable skills such as time management, ecommerce, efficiently managing duties, dealing with customers, suppliers and administration.

I am looking for a placement that will challenge me, help me continue to sharpen my skills in digital marketing as well as keep me on my toes! Feel free to send me an email: felixog97@outlook.com or send me a message on my LinkedIn!

Sophie Allen

Sophie Allen - her first degree was in Sports Journalism
Sophie Allen – her first degree was in Sports Journalism

I am currently studying Digital Marketing Management at masters level after completing my degree in sports journalism. I have extensive knowledge on different Adobe softwares- including Indesign and Photoshop. As well as these softwares, I am fully capable of doing video and sound editing- just a couple of skills that were put to the test at the local football club Kidsgrove Athletic whilst completing my work experience for my degree.

As I aspire to pursue a career in the marketing industry, I am looking for experience to add to my existing knowledge to ensure I am the ideal candidate once my masters course is completed. Email Allen.sophielaura@gmail.com .My linkedin profile is here

Mikey-Lee Armitage

In 2018, I graduated from Staffordshire University with a 1st Class (Hons) in Events Management.  I’m currently studying a MSc in Digital Marketing Management.

I have previously managed my own business, social media; I Built my own website and became a member of a networking group.  I made many amazing connections whilst networking.  A previous student and I represented Staffordshire University in the tourism awards at both Drayton Manor (2016) and the Alton Towers Resort (2017). 

I have also got over ten years’ experience in the hospitality industry, 2-3 years’ experience working within the University Hospital (Newcastle). I have also worked within the care industry, warehouse industry and pride myself in working with local businesses to contribute towards the economy.

Has experience of running his own events company

I have also started to build my own Gift Shop and event accessories business; where I will be linking the business to work and raise more awareness within the mental health sector. My business will start by creating magical Christmas Eve boxes for families, attend wedding and event fayres and much more.  I am very passionate about mental health and a placement in that industry would be especially welcome. Please email to a028703f@student.staffs.ac.uk

Redhwan Ahmed

In 2019 I graduated with an MSc in International Business Management at Staffordshire University and I am now studying an MSc in Digital Marketing Management. 

I have gained over five years of experience working with various fast food takeaway shops in the UK. During this time, I have learned to develop ways to improve my soft skills such as Emotional Intelligence, having cultural awareness and the ability to communicate within part of a team and showed good problem solving skills that is important in business. Although my experience is mostly in customer facing roles, more recently, I have put myself forward to help a small but dedicated digital marketing team for Mitchell Arts Centre (MAC) as part of voluntary work.

Redhwan Ahmed
Redhwan Ahmed

I have a passion for Digital Marketing and my interest in the sector is within SEO, website management, email marketing and gaining hands on experience with PPC and other digital marketing tools.

Overall I have good computer skills that include Microsoft Word, PowerPoint, Excel and have good understanding in using social media. I am looking for a placement which can enable me to enhance my experience in digital marketing and develop my skills and pursue a career in the future within the industry. If you would like to discuss how we can benefit each other please email me mr.ahmed@live.co.uk  

Elizabeth Bromley

I would love to work in marketing consultancy however, I am very open to all different kinds of opportunities

I completed my Marketing Management bachelor’s degree with a First-Class honours and have continued my studies with Staffordshire university in MSc Digital Marketing.

I am passionate about marketing and would be open to challenge myself in any area of marketing. After completing my marketing degree, I took a part time marketing job where I create content and manage the social media and website for a local business. The business is primarily in the hair and beauty sector but have very recently opened up a restaurant/bar, this meant me adapting my existing marketing techniques with the business to target a different demographic. Alongside this job and my degree, I have been working at Tesco. I have very good time management skills and know how to prioritise certain tasks.

Elizabeth Bromley
Elizabeth Bromley – would love to work in a marketing consultancy

Throughout my degree I gained skills and experience in using different software’s including: Canva, Microsoft Word, Excel, PowerPoint. I also obtained Microsoft office specialist certificates and Google Digital Garage certificates in 2019.

I also acquired a level 4 CIM qualification and gained experience working alongside different businesses including Plush hair lounge for my final year project. During my final year I achieved extremely high grades including 90% in a Corporate Brand and Reputation assignment.

Overall, I am hard working, have a keen eye for detail, I’m a fast worker and thrive under pressure. I work well individually and, in a team, and I can be relied upon to meet deadlines. I would love to work in marketing consultancy however, I am very open to all different kinds of opportunities. Email b015354i@student.staffs.ac.uk

Humad Majid

Interests in helping charities maximise donations and minimise costs.I’d like to think of myself as an entrepreneur. Someone who seeks out new opportunities, managing high risk strategies in order to achieve life changing results.

Humad Majid
Humad Majid – wants to work with charities

I have now set my site on launching an online Marketplace website that will donate all profits to charitable causes worldwide. www.areeni.com will allow retailers and private sellers to list their items for sale. A monthly subscription will be charged as well as a varying commission fee. With each item sold, both buyer and seller will be directly contributing to charitable causes. What’s more is that users will be able to see just how much their spending has raised for charity as well as where the money is being spent.

I am now open to new opportunities to help and support any charities looking to improve their marketing performance. For enquiries please contact me via email: humadmajid@outlook.com. Alternatively you can connect with me on LinkedIn.

Rebekka Boulton

I recently completed my Bachelor’s Degree in Events Management, in which I achieved a First-Class Honours. I am now studying a Master’s Degree in Digital Marketing Management.

Key areas I studied during my Events Management degree include Event Planning, Contemporary Issues Affecting Events, Accounting, Customer Service and Digital Marketing.

Rebekkah Boulton
Rebekkah Boulton

During the summer I volunteered at a Cancer Research UK charity shop. Where I gained experience of working in a fast-paced environment, meeting customers, building rapport, as well as using the till and working with money.

I am a hardworking, determined, and organised individual with a keen interest in travel and tourism, events, and hospitality. I believe that Digital Marketing is the way forward in the fast pace of the 21st Century, and especially as we emerge from the Covid-19 pandemic, and face an uncertain future where climate change needs to be at the forefront of all of our thinking.

If you would like to contact me, email me at rebekkaboulton@gmail.com or message me on LinkedIn.

Hirune Rajaguru Senadipathige

Graduated with a 2:1 in BA (Hons) International Business Management and currently undergoing a Postgraduate degree (MSc) in Digital Marketing Management, to broaden my knowledge with globally recognize digital tools in the Digital Marketing industry. I’ve two years of experience working in the Tourism Industry with a Tour Operating Agent in Italy. My experience provided me with a broad understanding of diversified cultures and ethnicities.

Hirune Rajaguru Senadipathige
has experience of working in the tourism industry

I am skilled with providing good customer care, team working, a practical approach to problem-solving, good interpersonal skills and confident use in social media and Microsoft Office. I work energetically with an exceptional work ethic to deliver the best interest to my employer.

Overall, I am looking for a work placement that helps me further broaden my knowledge in digital marketing with any industry as I’m adaptable and open to working in any new environment, with a willingness to learn and develop my skillset in pursuing a career within the industry. Email r011628k@student.staffs.ac.uk

Amy Smith

I am a recent graduate from Staffordshire University, where I studied Games Studies. In my final year I was looking at more community-based modules as well as my final year dissertation project observing Consumer Awareness of Accessibility in Games which had an underlining of observing how games are marketed.

Amy Smith
Has studied Games Studies as an undergraduate

During my final year I was also an academic note taker for a student who was studying the MSc Digital Marketing Management course, I realised through this I had alot of transferable skills, coming from a design and tech orientated background with an interest in User Experience and Accessibility, that I could utilise for marketing purposes.

I have started to write for Heywood Inclusion – who provide a range of website based services and blogs relating to accessibility. My linkedin profile is here, my email is s018795e@student.staffs.ac.uk

Winniefred Solomon

I graduated with a second class upper (2:1) degree in Computer Science and I am now pursuing a MSc in Digital Marketing Management.  Prior to that, I started a small-scale business in the early stage of my entrepreneurship career. I needed to find out more about digital marketing, how promotion could put my business at the top and everything that would positively impact my business in general.

Since I was mostly interested in how the search engine could rank a website above their competitors and get customers to the door, I decided to go for a paid course in SEO where I gained a technical knowledge of the digital marketing industry. 

Winniefred Solomon
Winniefred Solomon

I have acquainted myself with knowledge on search engine optimisation, content marketing, web development and e-commerce marketing.

Over the years, I have worked as an SEO specialist for organizations globally and this has helped me gain insights on the importance of data applications to businesses. During this time, I have applied extensive knowledge on keyword research, link building and content writing in building client satisfaction.

At the moment, I am looking for a placement that would enable me hone my skills and gain more expertise in digital marketing. Email me at winniefred1934@gmail.com

Folagbade Ajileye

I have a BSc (Hons) in Computer Science, while undertaking my degree, I worked for an IT firm as a Network Administrator and Engineer. After my graduation, I worked for a tertiary institution in Nigeria as a Network Administrator.

I have always had a passion for business and eCommerce. So, in 2019 I left my role at the tertiary institution to venture into the eCommerce world. Venturing into e-commerce gave birth to my passion for digital marketing. I learned and developed in Paid advertising using Twitter, Facebook, Google, YouTube, Instagram, etc.., which also led me to float a digital marketing agency “Fola Ajileye Digitals”.

Fola
Fola already has expereince in many areas of digital marketing



I have done paid digital marketing promotions for a lot of companies and individuals.

My background in Computer Science has afforded me a lot of experience and edge in building websites, advertising, and catching up with digital trends.

Owning my own business has given me the opportunity to work with various clients across many industries. I have made it my duty to identify the most efficient ways to grow a business or brand.

Contact Information: LinkedIn – https://www.linkedin.com/in/fola-ajileye-28b774ab/
Email: folaajileyedigitals@gmail.com

Liam Paterson

I am a creative, motivated and aspirational individual, a natural with technology, quick-to-learn new software and I instinctively study trend analysis. Over the course of the last 4 years I have obtained additional qualifications to further my knowledge within marketing and business operations. I graduated with First-Class honours  in 2021 after completing my bachelor’s degree in Marketing Management. After this, I have continued with my studies at Staffordshire University, currently studying MSc Digital Marketing Management.

For my Work Placement module I would like to work within a marketing consultancy agency to enhance both my skills and development within a fast-paced, ever-changing environment. However, I am available for various types of prospects in a wide range of industries. In addition to this, I would like to assist a company with the skills that are already developed through my previous experience.

Liam Paterson
Liam Paterson already working in the digital marketing industry

Currently, I work at DePe Gear Company as the Digital Marketing and Communications Officer. I am responsible for content creation, the management of both social media platforms and website (through WordPress and a social media management tool), email marketing campaigns, Google Adwords analysis, Search Engine Optimisation (SEO), Industry reports and analytics and leasing with external marketing agencies. DePe Gear is a company within the manufacturing/engineering industry which is an industry, that until recently, I was unfamiliar with. Entering this new industry has allowed me to expand my own marketing knowledge to effectively generate both engagement and leads.

My degree allowed me to gain skills and knowledge in a variety of different platforms and softwares to assist within a marketing role. These include: Canva, Hootsuite, MailChimp, Google Analytics, Social Media Analytics, and more. In addition to these skills, over my life at University I have also obtained a level 4 certificate in Professional Marketing from the Chartered Institute of Marketing (CIM), an accredited certificate in the fundamentals of Digital Marketing and additional completed courses from LinkedIn Learning. Furthermore, I gained more practical industry knowledge through my Work Placement module at level 6 For Raven Black House in Leek. Within my level 6 placement, I assisted Raven Black House with the production of an omni-channel social media marketing strategy.

If you would like to contact me regarding placement opportunities or any other queries, please contact p020542i@student.staffs.ac.uk Or alternatively, contact me via LinkedIn: https://www.linkedin.com/in/liam-paterson-ba-ba3866152/

Staffordshire Business School adapt Digital Marketing courses to respond to business needs

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Following the successful government-funded Small Business Leadership Programme, in conjunction with the Small Business Charter, Staffordshire Business School has enhanced the digital marketing courses to respond to identified business needs.

Issues emerged from the Small Business Leadership Programme

The programme allowed us to work with businesses nationally to understand their key challenges across business operations and provide guidance on how to survive and thrive in a continuously transforming environment. Naturally, businesses have their unique needs, however there were overarching themes identified which impact success. Whilst there have been developments in accessibility of training, digital marketing continues to be highlighted as a significant area with skills gaps. Particularly with the rise in e-commerce as a necessary approach for selling products and services due to the pandemic(Statista, 2020).

The Changing Consumer

It is no secret that in 2020 we saw accelerated changes in the way in which consumers engage with businesses. With 56.3% of the world’s population now on social media (We Are Social, 2021), changing customer expectations is not something that we can ignore. Operationally, we have learned that there is not the required time on a day to day basis to address those vast changes. The Small Business Leadership Programme enabled us to work practically with those businesses to ensure that understanding their audience is not something that is simply discussed in theory, but can be executed. This concept, coupled with working with businesses first hand, is embedded within course curriculum to ensure that the relevant skills are developed prior to entering the professional environment.

Attracting New Business

It is clear from the challenges caused by COVID-19, that if customers are not acquired and retained, business survival is put under great pressure (Hubspot, 2020). But how exactly do we use the right channels to attract new business? Through social listening, strategising against objectives and harmonising with business values, our connected business were able to ‘see the wood from the trees’ when striving for growth. As a digital society, we are inundated with options for promotion. This in fact has been a key barrier for our businesses, who found that perhaps too may options caused confusion of where they should be engaging.

Practical Ways to Plan and Rebuild for the Future

Overall, a general consensus across the five cohorts on the Small Business Leadership Programme was that planning for the future was most challenging, particularly with the reality of the changing environment often being faster than what they could plan for. We supported those businesses to think proactively, utilising guidance from our Entrepreneurs in Residence and to only use reactive approaches when relevant changes emerged for their business. We identify here that in order to support these business challenges, a flexible learning framework is key to any individual developing themselves within digital marketing.

Responding to the identified skills gaps, specifically with SME’s nationally, Staffordshire Business School provides a wide range of Digital Marketing courses focusing on industry expected knowledge, alongside fundamental skills needed to succeed in a professional environment. See our list of available courses below.

There are still places available on all courses, starting September 2021. Our variety of courses support a flexible approach to studying, with options for all experience levels.

Call us now on 0800 590 820 or Click Here for more information

Research on SME innovation especially in traditional manufacturing regions Part 2

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By Prof Geoff Pugh and Prof Jon Fairburn

Part 1 of this article can be found here

  • Radicic, D., Pugh, G. and Douglas, D. (2018). Promoting cooperation in innovation ecosystems: Evidence from European traditional manufacturing SMEs, Small Business Economics. Accepted 01-08-2018. https://doi.org/10.1007/s11187-018-0088-3

Abstract

We investigate whether public support for innovation increases the propensity of SMEs in traditional manufacturing industries to cooperate for innovation—in particular, for incremental innovation—with other firms and external knowledge providers. Using data from seven EU regions, we find that support programmes do not promote cooperation with competitors, marginally promote cooperation with customers and suppliers and strongly promote cooperation with knowledge providers. These findings suggest that, in this case, the role of public policy is systems conforming rather than systems creating. Innovation support programmes can assist SMEs in traditional manufacturing industry to consolidate and/or extend their innovation ecosystems beyond familiar business partners by promoting cooperation with both private and public sector knowledge providers. Finally, our findings suggest that evaluation studies of innovation support programmes should be designed to capture not only input and/or output additionality but also behavioural and systemic effects.

Keywords

SMEs; Traditional manufacturing industry; Innovation ecosystems; Innovation policy; Cooperation for innovation; Behavioural additionality 

  • Radicic, D., Douglas, D., Pugh, G. and Jackson, I. (2018). Cooperation for innovation and its impact on technological and non-technological innovations: empirical evidence for European SMEs in traditional manufacturing industries, International Journal of Innovation Management. Accepted 07-09-2018. https://doi.org/10.1142/S1363919619500464

Abstract.

Drawing on a sample of small and medium-sized enterprises (SMEs) in traditional manufacturing industries from seven EU regions, this study investigates how cooperation with external organisations affects technological (product and process) innovations and non-technological (organisational and marketing) innovations as well as the commercial success of product and process innovations (i.e., innovative sales). Our empirical strategy takes into account that all four types of innovation are potentially complementary. Empirical results suggest that cooperation increases firms’ innovativeness and yields substantial commercial benefits. In particular, increasing the number of cooperation partnerships has a positive impact on all measures of innovation performance. We conclude that a portfolio approach to cooperation enhances innovation performance and that innovation support programs should be demand-led.

From the MAPEER project:

  • Radicic, D. and Pugh, G (2016).  R&D programmes, policy mix, and the “European Paradox”: evidence from European SMEs, Science and Public Policy, 44 ( 4 ) ( 2017 ), pp. 497 – 512. doi: 10.1093/scipol/scw077. First published online: October 2, 2016.

Abstract

Using a sample of small and medium-sized enterprises from twenty-eight European countries, this study evaluates the input and output additionality of national and European Union (EU) R&D programmes both separately and in combination. Accordingly, we contribute to understanding the effectiveness of innovation policy from the perspective of policy mix. Empirical results are different for innovation inputs and outputs. For innovation inputs, we found positive treatment effects from national and EU programmes separately as well as complementary effects for firms supported from both sources relative to firms supported only by national programmes. For innovation outputs, we report no evidence of additionality from national programmes and cannot reject crowding out from EU programmes. However, crowding out from EU support is eliminated by combination with national support. These findings have policy implications for the governance of R&D policy and suggest that the European paradox—success in promoting R&D inputs but not commercialisation—is not yet mitigated.

Key words: R&D support; SMEs; policy mix; input and output additionality; European paradox

  • Radicic, D. and Pugh, G. (2017). Performance Effects of External Search Strategies in European Small and Medium-Sized Enterprises. Journal of Small Business Management, 55, 76-114. First published on-line: Feb.15th 2017. http://dx.doi.org/10.1111/jsbm.12328                                      

Abstract.

There is little evidence regarding the performance impact of open innovation on small and medium-sized enterprises (SMEs), especially across different firm-size categories and sectors. Using new survey data from 28 European countries, we specify ordered logit and generalized proportional odds models to explore how seven individual external search strategies (knowledge sources) affect SME innovation performance across different size categories and sectors. While we find some consistently positive effects, in particular from using customers as an external knowledge source, we also find that some search strategies may not be beneficial. These findings suggest managerial and policy implications.

  • Radicic, D. (2020). National and international R&D support programmes and technology scouting in European small and medium enterprises. Journal of Science and Technology Policy Management 11(4), 455-482.  https://doi.org/10.1108/JSTPM-10-2019-0091

Abstract

Purpose. This study aims to evaluate the effectiveness of national and international R&D support programmes on firms’ technology scouting, defined as firms’ use of external knowledge sources.

Design/methodology/approach. Drawing on a unique data set on R&D support programmes for small and medium-sized enterprises (SMEs) operating in both manufacturing and service sectors across 28 European countries, this study reports treatment effects estimated by the copula-based endogenous switching model, which takes into account unobserved firm heterogeneity.

Findings. Empirical results indicate that R&D support programmes have heterogeneous effects on technology scouting. In particular, a crowding-out effect arises in the case of informal sources of external knowledge, whereas additional effects are reported for formal, strategic sources.

Practical implications. For informal sources of external knowledge, a random distribution of R&D measures would have a substantially larger effect rather than using current selection criteria.

Originality/value. To the best of the authors’ knowledge, this is the first study to explore the policy effects on technology scouting applying a copula-based endogenous switching model. Most cross-sectional empirical studies use matching estimators, although their main disadvantage is the selection on observables.

Key words External knowledge search; Behavioural additionality; Copula-based endogenous switching model; European SMEs; Technology

Email g.t.pugh@staffs.ac.uk or jon.fairburn@staffs.ac.uk

Part 1 of this article can be found here

Research on SME innovation especially in traditional manufacturing regions Part 1

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By Prof Geoff Pugh and Prof Jon Fairburn

Introduction

About the projects

The two projects are the following.

  • GPrix project (November 2009 – February 2012) commissioned by the European Commission’s DG-Research. Full title: Good Practices in Innovation Support Measures for SMEs: facilitating transition from the traditional to the knowledge economy; Instrument: SP4-Capacities—CSA—Support Action; Call: FP7-SME-2009-1; Grant agreement Number: 245459. The website for this project, including aa very large number of deliverables etc., is currently available at http://business.staffs.ac.uk/gprix/en/index.htm
  • MAPEER project commissioned by the European Commission’s DG-Research. Full title: Making Progress and Economic Enhancement a Reality for SMEs. Funded under FP7-SME. Grant agreement ID: 245419. The MAPEER project website is no longer available but the results are reported in summary form on CORDIS: https://cordis.europa.eu/project/rcn/93511/factsheet/en

The two projects coordinated their questionnaire surveys to facilitate analysis and eventual publication. Together, participants at Staffordshire University contributed to seven publications arising from these datasets.

The GPrix project focused on evaluating innovation support measures for SMEs in traditional manufacturing industries. In brief, three published articles and a UNI-MERIT Working Paper arising from the project reported that:

  • the estimated effects of innovation support programs are positive, typically increasing the probability of innovation and of its commercial success;
  • although innovation support measures in the EU are mostly designed to support product innovation in R&D intensive sectors, for firms in traditional manufacturing industries a broader innovation (policy) mix is more appropriate, including support for product innovation, process innovation, marketing and organizational innovations (of particular importance), together with internationalization, design and cooperation;
  • innovation support programmes can assist SMEs in traditional manufacturing industry to consolidate and/or extend their innovation ecosystems by promoting cooperation with both private and public sector knowledge providers, suggesting that initial input and/or output additionality from public support may be propagated and amplified by behavioural and systemic effects; and
  • increasing the number of cooperation partnerships has a positive impact on all measures of innovation performance.

The MAPEER project focused on innovation support for SMEs more generally. Three articles arising from this project reported:

  • that the “European paradox” regarding SME support — i.e. success in promoting R&D inputs but not commercialisation — is not yet mitigated;
  • new evidence on “open innovation” strategies, suggesting not only some consistently positive effects, in particular from using customers as an external knowledge source, but also that some search strategies may not be beneficial;  and
  • evidence that R&D support programmes have heterogeneous effects on technology scouting – defined as firms’ use of external knowledge sources – including a crowding-out effect on informal sources of external knowledge but additionality with respect to  formal, strategic sources.

For convenience, the abstracts of all seven contributions are reproduced below

From the GPrix project:

  • Radicic, D., Pugh, G., Hollanders, H., Wintjes, J., and Fairburn, J. (2016). The impact of innovation support programs on small and medium enterprises innovation in traditional manufacturing industries: An evaluation for seven European Union regions. Environment and Planning C: Government and Policy, 34(8) (December): 1425-1452. First published online December 18, 2015. doi:10.1177/0263774X15621759 

Abstract

We evaluate the effect of innovation support programs on output innovation by small and medium enterprises in traditional manufacturing industry. This focus is motivated by a definition of traditional manufacturing industry that includes capacity for innovation, and by evidence of its continued importance in European Union employment. We conducted a survey in seven European Union regions to generate the data needed to estimate pre-published switching models by means of the copula approach, from which we derived treatment effects on a wide range of innovation outputs. We find that for participants the estimated effects of innovation support programs are positive, typically increasing the probability of innovation and of its commercial success by around 15%. Yet, we also find that a greater return on public investment could have been secured by supporting firms chosen at random from the population of innovating traditional sector small and medium enterprises. These findings indicate the effectiveness of innovation support programs while suggesting reform of their selection procedures.

Keywords

Small and medium enterprises, evaluation, traditional manufacturing, innovation support, innovation outputs

Abstract

Innovation support measures in the EU are mostly designed to support product innovation in R&D intensive sectors. To increase the still considerable contribution to regional employment and competitiveness from SMEs in traditional manufacturing industries a broader innovation (policy) mix is more appropriate. This paper draws data from a survey of more than 300 SMEs from seven regions within the European Union, as well as case studies, to address the question: How can innovation policy interventions be improved to support SMEs in traditional manufacturing industries more effectively? We claim that innovation support should be sensitive to the way SMEs in traditional manufacturing sectors innovate and grow. We find that product innovation (and support used for product innovation) is less likely to generate growth, than (support used for) process innovation. Also (support used for) marketing innovations and organizational innovations are of particular importance – together with internationalization, design and cooperation. The increasingly selective application procedures applied are not the most efficient to generate impact, since those who are supported (and those who are supported more frequently), are the ones who are most likely to take the same innovative steps anyhow, irrespective of policy support.

Keywords

Innovation; SMEs; traditional sectors; low-tech; policy evaluation; manufacturing; process innovation

Part 2 of this article can be found here

Email g.t.pugh@staffs.ac.uk or jon.fairburn@staffs.ac.uk

Where will we work post-Covid?

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by Vanessa Oakes,Course Director

As we move through the Government’s Roadmap to ‘normality’ over the next few months, employers will be starting to consider what this may mean for staff returning to office environments. Many staff who have been able to work from home throughout the pandemic have reported increased productivity, better work life balance, saving time and money through the elimination of the commute, as well as many other benefits.

There have been some drawbacks, particularly where staff have had to juggle home-schooling and caring responsibilities, but as these staff become able to return to a normal working routine, it is likely that they will start to experience some of the same benefits as their colleagues

A recent YouGov survey showed that 91% of respondents surveyed who have been able to work from home during the pandemic, want to continue to do so at least some of the time. This pressure from employees (who have proved that they can successfully work from home), should be a catalyst for most organisations to make changes to the levels of flexibility they will allow. If organisations choose not to offer greater levels of flexibility in WHERE staff work, they may see their employees move to a competitor who IS willing this. More and more frequently ‘working from home’ can be found on job advertisements for professionals, allowing these organisations to take advantage of the changing demands of employees, and  opening their vacancies to a much wider talent pool, giving them more choice in their chosen candidate.

Of course, organisations in some sectors have always been prepared to offer high levels of flexibility of working hours and location and have found the transition to working from home a case of ‘business as usual’. At least a third of the workforce pre-Covid had some access to homeworking, but anecdotes suggest remote working was reserved for management, those who were highly valued or those who had sympathetic managers.

What the ‘mass working from home experiment’ over the last year has taught us is that everyone in our organisations can benefit from a level of flexibility, and the organisation will benefit in return through higher levels of engagement and commitment. Consider another benefit to increasing flexibility, the ability to truly open vacancies to more diverse candidates, from those with disabilities for whom homeworking would be much easier, to increasing the number of women in the workforce (and in senior roles) through allowing more flexibility around WHEN the work can be done.

Vanessa Oakes
Vanessa Oakes

One of the main challenges to remote working has been around managing (or monitoring) performance. This link between presence and performance has been prevalent in sectors where a judgement about performance is not based on measurable KPIs, rather about the complexity of work and behaviours demonstrated in performing it. This could provide challenges to organisations who are willing to improve the flexibility which they offer. This raises a series of questions for managers and leaders:

  • What does ‘good’ work look like? This will be a question that needs to be answered by each manager as they attempt to define what their performance expectations are within the new parameters of work.
  • Are managers communicating their expectations clearly enough?
  • Are they making themselves available, but not inserting themselves unnecessarily into the working day of their teams?
  • And most importantly, are they developing relationships built on trust with each of their team members? It is these relationships that will determine the success of the flexible working strategy and will allow the organisation to take advantage of the many financial and intangible benefits of a flexible workforce for the foreseeable future.

We are now recruiting for cohort 5 of the Small Business Leadership Programme (free and starting 30th March) and Vanessa will be covering this topic in more depth on this course.

Vanessa Oakes on linkedin,Email Vanessa.Oakes@staffs.ac.uk

20 years’ smart city research marching on – what’s next?

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Professor Fang Zhao, Associate Dean Research and Enterprise, Staffordshire Business School

By 2050, two-thirds of the world’s population will live in towns and cities, resulting in the consumption of over 70% of energy, and the emission of an equal amount of greenhouse gases (European Commission, 2019). The Covid-19 pandemic is exacerbating the challenges that cities have already been facing from multiple fronts such as rapid urbanisation, digital disruptions, demographic, climate and environmental changes, economic restructuring and reforms. Covid-19 is changing how urban residents live, work and commute and reshaping economic structures and business models. In the current global battle against Covid-19, smart cities have a pivotal role to play in responding to the crisis in terms of track-and-trace of coronavirus cases using smart technologies, enforcing social distancing rules, getting homeless people off the streets, and special emergency measures for care homes, to give just a few examples.

The concept of a smart city has been seen as a strategy to tackle the grand challenges facing urban planning and development. Smart city is a fuzzy word with various terms being used – intelligent city, digital city, green city, knowledge city, and smart sustainable city. Research on smart city can be traced back to the 1990s, taking on many perspectives, mostly in four aspects: the technological aspect including the technological infrastructure and support network for building smart cities, the socio-cultural aspect, or citizen engagement, the political-institutional aspect, such as government support and policies, and the economic-business aspect, namely business models and profitability.

A team of researchers (Prof Zhao, Dr Olushola Fashola, Dr Tolulope Olarewaju and Dr Ijeoma Onwumere) at Staffordshire Business School have been investigating what has been done in smart city research over the past 20 years. After a systematic and comprehensive literature review, the research team found that smart city research tends to revolve around six key areas: digital technology diffusion, smart city strategy and implementation, supply chains and logistics, urban planning and governance, smart city entrepreneurship and innovation, and Smart city evaluation and measurement. The team also identified four major challenges for small city research: (a) smart city research is often fragmented and technology-driven; (b) many studies are on perceived benefits of smart cities and fewer on the downsides of the effect of technologies and failure projects; (c) there is a need to build new theories for smart city research; and (d) there is a lack of empirical testing of the conceptual frameworks developed in smart city research. Furthermore, the team found that there was very limited research on crisis management in smart city before 2020. However, the research landscape is changing with emerging literature investigating how smart cities respond to crises and pandemics, and exploring strategies that can be used to tackle swiftly the crisis effectively at both strategic and operational levels.

Directions for future research and practice in smart cities are proposed.  If you want to know more and/or seeking for collaboration, please contact Prof Fang Zhao – Associate Dean Research and Enterprise at fang.zhao@staffs.ac.uk.

Which to use: Quick Ratio or Current Ratio for Liquidity Measurement in business

Status

Mayowa AKINBOTE

Just as businesses are adapting to the shock of Brexit, the global pandemic presents another disruption to businesses. These two events have created huge uncertainty for most small businesses while some have benefited . The striving small businesses are revaluating their strengths with financial metrics to enhance their sustainability as the new markets are emerging. Financial metrics present small businesses with the opportunities to increase efficiency in their operations, liquidity, profitability and stability during uncertainty period. Some commentators argue that inadequate liquidity is the major reason small businesses collapse during the uncertainty period.

The quick ratio helps the business managers to evaluate their businesses financial liquidity. This informs the business managers of how current assets excluding inventories can be quickly converted to cash to meet their current liabilities. This ignores inventory because it is not easily converted to cash. Unlike the current ratio which considers inventory value, the quick ratio is generally viewed as the conservative evaluation of business liquidity as it’s based on the business most liquid assets. For instance, a business has current assets worth £40,000 of which inventory is £10,000, and £15,000 worth of current liabilities thus the business has a 2:1 quick ratio. This indicates that the business can afford to meet the short-term liabilities twice with the short-term assets.

Money

Businesses with a 1:1 or lower quick ratio could be at risk of becoming a going concern. Thus, small businesses with limited access to funds might fire sale their non-current assets to meet the current liabilities.

Many businesses have already closed due to Brexit and the global pandemic and it has been estimated that a further approximately, 98,000 small businesses might not survive the current pandemic. Thus, small business managers that are currently struggling to survive should pay attention to their financial metrics especially the quick ratio.

Unlike the quick ratio, many commentators argue that the current ratio cannot accurately evaluate some businesses short-term liquidity power. For instance, a retail business that targets seasonal customers will stock up inventory for the season. Thus, toward this period the current ratio rises and fall after the seasonal sales. Hence, the quick ratio would be best to evaluation the liquidity ability of such businesses as it ignores the inventory value.

However, other commentators argue that excluding the inventory value from the current assets could be an inefficient way of evaluating liquidity ability for some businesses. For instance, small business such as corner shops that a large percentage of their current assets are fast-moving inventory. Thus, excluding the inventory from the current asset would relatively inflate the current liability. Hence, the quick ratio will present an inaccurate picture of the business to cover their current liability with their most liquid assets.

In conclusion, business managers need to consider both the quick ratio and current ratio, especially during the uncertainty period. This would provide a more accurate measurement of their business ability to pay their short-term liabilities without being forced to fire sale their non-current asset.

Business managers need to ensure that the quick ratio and current ratio is not too excessive compared to other competitors in their sector as this could indicate poor control of working capital. This might suggest that the business is not turning over its inventory quickly enough or is carrying slow-moving or obsolete inventory and has poor credit control practices resulting in their customers delaying payments beyond the agreed terms.

STOP PRESS: We are now recruiting for cohort 5 of the Small Business Leadership Programme (free starts 30th March).

Mayowa Akinbote FCCA
Lecturer in Accounting and Finance
Staffordshire Business School
Staff Page: https://www.staffs.ac.uk/people/mayowa-akinbote
LinkedIn: http://linkedin.com/in/mayowa-akinbote-33448895

Innovation to survive and thrive Part 2

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By Tanya Hemphill

Part 1 of Tanya’s article can be found here

STAGE TWO

Once you have used these initial basic filters to find the strongest ideas, the next stage is to use a more in-depth filter to make decisions on the remaining ideas. Day (2007) recommends using a risk matrix. The R-W-W matrix is based to three key questions:

  • Is it Real?
  • Can we Win?
  • Is it Worth doing?

This is expanded into the following set of questions:


Is it
real?
Is the market real? 		Is there a need or desire
for the product?
Can the customer buy it?
Is the size of the
potential market
adequate?
Will the customer buy the
product?

Is the product real? 		Is there a clear concept?
Can the product be made?
Will the final product satisfy
the market?

Can we
win?
Can the product be
competitive?
Does it have a competitive
advantage?
Can the advantage be
sustainable?
How will competitors
respond?

Can our company be
competitive?
Do we have superior
resources?
Do we have appropriate
management?
Can we understand and
respond to the market?

Is it worth doing?
Will the product be
profitable at an
acceptable risk?
Are forecasted returns
greater than costs?
Are the risks acceptable?

Does launching the product
make strategic sense?
Does the product fit our
overall growth strategy?
Will top management
support it?

STAGE THREE

Once a few viable marketing innovation ideas remain, the next stage is to consider the risks even further. This is where conducting a pre-mortem is a useful tool. This helps organisations identify the possible failures of a project before they happen and mitigate risk by pre-planning so that those failures don’t occur.

The following pre-mortem exercise has been adapted from Gray et al. (2010).

Activity
Step 1Imagine we are two years in the future.
Things have gone completely wrong.
What could have caused this? Generate a list of all the reassons failure occurred.

Step 2List all concerns and rank them to
deterimine priority
Step 3Address the 2 or 3 items of greatest
concern and list what actions you would
need to take to stop the issues
happening.

The list of risks and actions that need to be taken to mitigate the risk can be used as Critical Success Factors (CSFs) for an innovation or project launch.

Hopefully, this article has helped you think about the different types of innovation you can potentially pursue and how to evaluate the best route forward, using a systematic filtering process.

STOP PRESS -We are now recruting for cohort 5 of the Small Business Leadership Programme (free starts 30th March)

References

Day, G. (2007) Is it real? Can we win? Is it worth doing? Managing Risk and Reward in an Innovation Portfolio. [Online] Harvard Business Review. Available at: https://hbr.org/2007/12/is-it-real-can-we-win-is-it-worth-doing-managing-risk-and-reward-in-an-innovation-portfolio (Accessed 11 February 2021).

Fisk, P. (2017). Gamechangers: Are you ready to change the World? Creating Innovative Strategies for Business and Brands. West Sussex: John Wiley and Sons Ltd.

Gower, L. (2015) The Innovation Workout. Harlow: Pearson Education Limited.

Gray, D., Brown, S. & Macanufo, J. (2010) Game Storming: A Playbook for Inovators, Rulebreakers, an Changemakers. Sebastopol: O’Reilly Media, Inc.

Keeley, L., Pikkel, R., Quinn, B. and Walters, H. (2013). Ten Types of Innovation: The Discipline of Building Breakthroughs. New Jersey: John Wiley & Sons, Inc.

Osterwalder, A. and Pigneur, Y. (2010). Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. New Jersey: John Wiley & Sons, Inc.

Free Small Business Leadership Programme – starts end of March

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Supporting SME leaders to create resilience and manage uncertainty in 2021 and beyond

Access free ideas, guidance, peer & 121 support to help your business to manage the uncertainty of steering through the pandemic and impacts of Brexit for up to TWO leaders in your business.

Staffordshire Business School is supporting regional business by delivering free training in leadership and management to provide exactly what business needs most to build a resilient future.

This is cohort 5 of the SBLP and the positive impacts of previous cohorts are being felt across the region. Here is what Rhys from XP VR thought of the course

Why choose to be part of the Small Business Leadership Programme?
▪ Make your business more resilient
▪ Boost business performance and growth
▪ Create an innovative and agile organisation
▪ Recover from the impact of COVID-19
▪ Find solutions to the impact of Brexit
▪ Build leadership skills, confidence and effectiveness
▪ Plan for a solid future for your business
▪ Build lasting relationships with small business leaders
▪ Improve risk management and efficiency

When does the course start?
Tuesday the 30th March 2021 (1st webinar at 3pm)

If you would like to have a chat about the course then please email one of our experienced Entrepreneurs in Residence with your phone number and they will call you back,

Jane Pallister – Jane.Pallister@staffs.ac.uk
Emily Whitehead – emily@staffs.ac.uk
Jonathan Westlake – j.c.westlake@staffs.ac.uk

Here’s what another business thought of the course: Geoff Barton, General Manager of Canalside Farm in Great Haywood near Stafford said: “It’s allowed me to connect with other businesses, and I’ve learned much and managed to strengthen a few knowledge gaps and boost my handling of the business during these unique times.”

What’s involved?
Eligibility requirements
▪ Your business must be a Small or Medium-sized Enterprise (SME) based in England.
▪ Your business needs to employ between 5 and 249 people and have been operational for at least one year
▪ The participant should be a decision maker or member of the senior management team within the business with at least one person reporting directly to them.
▪ The participant must be able to commit to attending the full programme


Time commitment
The programme is designed to be manageable alongside full-time work and furloughed staff can join the programme.

Participants will attend 8×90- minute webinars across ten weeks, and complete up to 2 hours of independent development and peer-supported engagement per week.

Places are fully funded by the Government to support the resilience,
recovery and growth of SMEs during and after COVID-19. The programme
is completely free to attend but places are strictly limited.

Register Now
There are two ways to register.

  1. Email one of the Entrepreneurs in Residence as listed above and they
    will talk you through the process.
  2. Follow the simple instructions below (this takes 3 minutes) and we will
    be in touch:
    • Go to https://smallbusinesscharter.org/sblp-registration/
    • Choose ‘West Midlands’ from the pink vertical menu on the left
    • Scroll through the list of centres until you find Staffordshire University
    (start date 30th march) & click register

PLEASE NOTE: Your business can send up to two eligible delegates to this programme and delegates can be furloughed. Please do one registration for each person.

How COVID-19 Exposed The Ethnic Poverty and Enterprise Rift (Participate in Our Research)

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Dr Tolu Olarewaju, Lecturer, Staffordshire business School

The British Academy (the United Kingdom’s national academy for the humanities and the social sciences) has tasked us with investigating the specific challenges that UK business owners faced during the COVID-19 pandemic and lockdown, the strategies that they used to keep their businesses afloat, and how they engaged with financial and regional support.

We are also interested in how best to support members of the Black Asian and Minority Ethnic (BAME) business community.

To participate in our study, kindly fill the survey below and/or please share the URL with your networks if you know any other business owners:

URL: http://staffordshire.qualtrics.com/jfe/form/SV_50kNUNYOKJFFQNM

Photograph: benjamin lehman | URL: https://unsplash.com/photos/gkZ-k3xf25w | Unsplash

Ethnic minorities were particularly affected by the COVID-19 pandemic in the UK and US, as in some other countries. In particular, the risk of death for some ethnic minority individuals who contracted COVID-19 in these countries was two to three times more compared to white individuals.

This disparity was a result of the underlying social and economic risk factors that ethnic minorities face, such as living in overcrowded and urban accommodation, being employed in riskier lower-skilled jobs, reduced access to healthcare, and structural racism. In other words, ethnic poverty in developed countries is driving higher infection and consequently death rates for ethnic minorities.

Drivers of Ethnic Poverty

Underlying the drivers of poverty for ethnic minorities in many developed countries are several socio-economic factors which include historical factors, discrimination, educational and entrepreneurial variations, and employment and pay disparities between ethnic groups.

Despite facsimile policies that emphasize equal access to education and employment in many developed countries, discrimination remains a critical barrier to equal employment. Several studies have found that both ethnic minorities are called back for interviews 50% less frequently than comparable whites, hired less often for high-skill jobs, and once hired are paid less. Thus, despite the increasing educational gains made by ethnic minority individuals, many are overqualified for the jobs that they do. Ethnic minority workers also often report not being given pay rises and being passed over for promotion.

Another very important driver for the disproportionately high poverty rates among ethnic minority groups is the concentration of such workers in low-paid work. Ethnic minority workers are more likely to work in low-paid sectors with limited progression opportunities and lower wages. Lack of movement out of low-paid work increases the risk of poverty among ethnic groups. In addition, there is generally a lower percentage of ethnic minority workers who are managers, directors, and senior officials.

Photograph: Maria Oswalt URL: https://unsplash.com/photos/qFkVFe9_d38 | Unsplash

Business Ownership Disparities

Before the pandemic, BAME business owners were less likely than non-BAME business owners to obtain mainstream business support and in the early days of coronavirus, nearly two-thirds of BAME business owners felt unable to access state-backed loans and grants, leaving many on the brink of financial ruin.

BAME-owned businesses are traditionally concentrated in the sectors worst hit by lockdown such as retail, health and social care, education, restaurants and accommodation.

The economic crisis facing these businesses is aggravated by the fact that they are more likely to hire a considerable number of BAME employees and attract more BAME customers. The significantly higher risk among such groups from COVID-19 implies that these businesses would have had to incur considerable costs to protect their staff and customers.

Solutions

Ethnic minorities consistently report reduced access to education, lack of social and financial capital, unemployment, low-pay, and poor progression from low-paid sector work. This suggests similar solutions for all groups, which would lead to better-quality jobs and higher pay. However, given that some of the drivers of poverty, such as higher unemployment and inactivity rates disproportionately affect ethnic groups, specific forms of outreach activity and drawing on local knowledge may be needed in these contexts.

Similarly, government solutions to reduce ethnic poverty in developed country contexts include interventions that ensure that education, training and apprenticeships are provided for ethnic minorities as well as schemes that help tackle low pay among ethnic minority workers. There is a need for policies that focus the on education, skills and training for ethnic groups particularly digital, literacy, and numeracy skills. Moreover, policies should also be encouraged that monitor the workforce in relation to ethnicity, which should include the recruitment, retention and progression phases of jobs.

Authorities need to work with employers to provide better-paid jobs and they should do more to listen to and encourage employers to hire a diverse range of skills and experiences. It is advisable to consider putting targets for ethnic minority representation on boards, something that has proven successful in the case of gender. It is also important to recognise the benefits of positive discrimination in the labour market, rather than view legislation to combat ethnic inequality as red tape or political correctness. Mortgage market discrimination needs to be eliminated as this would allow ethnic minorities to take advantage of the benefits that come with owning a home.

State-backed grants and loans should be made more accessible as an incentive to business owners who have incurred additional costs to protect customers and staff. Crucially, the process to obtain them should not be too onerous and the criteria should be fair. Regional governments should also take care to plug BAME businesses into the supply chains of local projects in response to the pandemic.

Source: Author

All these should reduce ethnic poverty and the economic and health inequalities that the COVID-19 pandemic has highlighted.

Don’t forget to participate in our research if you a business owner: http://staffordshire.qualtrics.com/jfe/form/SV_50kNUNYOKJFFQNM

Notes: Excerpts for this essay was taking from my book chapter: “Ethnic Poverty: Causes, Implications, and Solutions” available at: https://www.researchgate.net/publication/344725834_Ethnic_Poverty_Causes_Implications_and_Solutions