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.
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.
Storm Barratt, Course Director, Staffordshire Business School
Almost
never a day goes by, when we aren’t reminded that “today” is National,
International or even Global “something” awareness day or week or month. From
the ever-popular Christmas Jumper day to my own particular favourite – National
Squirrel Appreciation Day (!), from National Allotment week to Fairtrade
fortnight to National Bed month.
All of
these campaigns are designed to raise awareness and/or funds for some serious
and not so serious issues. So, why as a business, would you want to know this?
Firstly, all businesses
have basic ethical and legal responsibilities; however, the most successful
businesses establish a strong foundation of corporate citizenship, showing
a commitment to ethical behaviour by creating a balance between the needs of
shareholders and the needs of the community and environment in the surrounding
area. These practices help bring in consumers and establish brand and company
loyalty.
It is
considered normal for businesses to balance the other stakeholders’ needs with
those of the shareholders during the decision-making process. Corporate Social
Responsibility (CSR) goes even further, making the general public a stakeholder
and shows that the business wishes to actively improve things for everyone.
For any
business making a profit is still key and, of course, the needs of employees,
customers and suppliers must be satisfied if the business is to survive.
However, Corporate Social Responsibility has become far more important over the
last few decades with consumers worrying about how the products they buy were
made and how companies that they buy from are run. On many company websites
there will be narratives of how they look after the environment and all the CSR
initiatives of which they are a part.
Corporate social responsibility comes in many
forms. Even the smallest company impacts social change by making a simple
donation to a local food bank. Some of the most common examples of CSR include:
Reducing carbon footprints
Improving labour policies
Participating in Fairtrade
Charitable giving
Volunteering in the community
Corporate policies that benefit the environment
Socially and environmentally conscious investments
The
growing popularity of National Awareness Days can tap into these initiatives helping
a company both internally and externally.
One internal perspective is if your employees can see that the business is taking a caring approach, by raising funds for charity for instance, involving the staff may mean that they become more motivated to engage with each other working towards a common goal. In fact, whilst “Wear a Christmas Jumper to Work” day seems an opportunity to raise a smile amongst colleagues as we approach the long dark winter months, the serious aspect is that the jumper wearers are raising money for a great cause.
Another
perspective is using “Awareness
Days” to help a business promote their product or service (all the better if
this can also highlight the CSR approach taken by the company). The issues can make an ideal
marketing tool for a business, providing inspiration for marketing content.
By adding
context to an awareness day, a business can plan their content by linking a day
to their product or service, so for example an artisan baker could showcase
their expertise and knowledge during Real Bread Week, or a nutritionist could
use National Allotment Week to encourage healthy and organic eating whilst
promoting their own healthy eating programme.
It’s not just
about direct promotion though. Awareness days can provide a great opportunity
for a business to engage in conversation with future consumers via social media
using hashtags associated with the cause, on Facebook, Instagram and Twitter. This
will allow people to find and contact you, consequently building your audience.
From engaging with employees to good PR to corporate social responsibility, supporting a national awareness day is a great way to show which values are important to you and your business. It can differentiate you from your competitors and allow you to build partnerships with charities and organisations that share your beliefs. With the potential to build trust as well as give a little back, it’s a win-win situation for all.
Become a responsible leader of global business.
Do you want to be at the forefront of modern enterprise? Our BA (Hons) Business Management and Sustainability course challenges the traditional interpretations of enterprise and will open your mind to a broad range of contemporary themes in business.
Our emphasis on ethical business and sustainability will position you to create long-lasting value for your organisation and you will learn the practical skills needed to become a responsible business leader.
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:
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.
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.
Olushola Fashola, Lecturer, Staffordshire Business SChool
Nuthall
(2019) asserted that the United Nations estimates that between 2% and 5%
(US$800bn–US$2trillion) of global GDP is laundered. The year 2019 saw global
anti-money laundering (AML) penalties going beyond £6billion (actual value was
£6.2billion which is equivalent to around $8billion), with the US imposing
double the quantum of fines imposed by UK authorities (Sweet, 2020). These facts
suggests financial crimes is on the rise, which is a worrying development for
societies, governments, organisations, and individuals. It is therefore
important that some sort of reflection (collectively or individually) be
undertaken by all concerned regarding how things have deteriorated to current
level in terms of emerging global narrative on financial crime. Consequently,
my own lived experience within a socio-economic and institutional context
offers a basis for looking at financial crime through the multiple lens of
three actors – “the vulnerable”, “the gullible” and “the
culpable”.
THE
VULNERABLE
Some
years back I was looking through job advertisements on various websites, hoping
to find a flexible job that will permit me to spend more time with my young
children. I did not search too long before I came across one placed by a
supposedly US based company. Though, the role was described as Administrative
Assistant, the job description was more of a home-based funds transfer officer.
Considering that I have practice experience in banking and finance, I quickly
applied and was very optimistic as to my chances of eventually getting the job.
Just as I had anticipated, I was offered the job. However, mode of operation
triggered some curiosity – the company will pay money into my account which I
shall subsequently transfer to various recipients!
THE
GULLIBLE
The
unusual nature of the responsibilities attached to this job role sent alarm
bells ringing. I contacted the website where I found the job to let them know
of my suspicion that something was not quite right about this company and the
job. The website’s initial response was to dismiss my suspicion, suggesting
there was nothing unusual about either the company or the job. Whilst pondering
as to the genuineness or otherwise of this job offer, I listened to the BBC
money box programme focused on money mules. This made the connection between this
job offer and money mule operations vividly clear. I contacted the website
again, now aware of the prospect of being used as a money mule based on what I
have learnt from the BBC programme. This time, the response was an apology and
commitment to bar the company from using the website. Prioritisation of
corporate social responsibility can help reduce the chances of financial fraud
occurring (Liao et al., 2019).
THE
CULPABLE
Whilst
I did not allow this company the opportunity to pay any money into my bank
account, I wonder how many people they had successfully persuaded into
accepting such payments through their banks. The banking industry is central to
economic growth and development, but also remains a vital part of the carefully
orchestrated dastardly design of financial crimes’ architecture. The growing
evidence against banks with respect to recurring culpability in facilitating
financial crimes is a worrying trend that compounds erosion of public trust in
them since the financial crisis of 2008/2009. Sanctions imposed on banks (see
below) for offences with a bearing on financial crimes bears testimony to
banking industry’s culpability.
Feb
2014: Standard Bank PLC fined £7.6m for failures in its anti-money laundering
controls (BBC, 2014)
May
2015: Barclays fined $2.4bn for forex rigging (Financial Times, 2015)
June
2015: HSBC pays out £28m “compensation” to Swiss authorities over
money-laundering claims (The Guardian, 2015)
November
2015: Barclays Bank (Barclays) was fined £72,069,400 for failing to minimise
the risk that it may be used to facilitate financial crime by the Financial
Conduct Authority (FCA) (FCA, 2015)
December
2019: HSBC to pay $192m penalty in US for helping clients hide $1billion dollar
worth of assets for tax evasion purpose (Financial Times, 2019).
Financial
service regulators may have demonstrated a commitment to ensuring banks do not
act as facilitators of financial crimes through these sanctions, but the
inherent culpability of the financial regulatory system in certain
jurisdictions means that these fines do not address why they have become a
magnet for financial crime. The public prosecutor in the HSBC/Swiss regulator
case as cited in The Guardian (2015) sums up the real source of financial
service industry culpability in financial crime thus:
“When
we have a law that doesn’t punish financial intermediaries accepting doubtful
funds then we have a problem. This problem dates from long before the HSBC affair.”
REFLECTION
ON EVIDENCE
Criminals
adept at committing financial crimes often targets the vulnerable. They are
also very clever at deciphering individual vulnerabilities. Unemployment was a
vulnerability ready to be exploited in this case. However, various other
vulnerabilities can be the focus of the ploy of these criminals. For instance,
search for acceptance and love (BBC 2020), desire to help others and outright
greed, are a mix of vulnerabilities often exploited by advance fee (otherwise
called “419”) fraudsters.
Individuals
or organisations should not think they are above gullibility when it comes to
financial crimes. The website involved in this case is a subsidiary to one of
the major global online platforms. Yet their vetting process allowed this job
advertisement to be placed; and initial response to contacting them laid bare
their gullibility – a failure in their social responsibility obligation to
society!
Banking
industry and its regulatory framework remains an important defence line in
society’s response to combating financial crime (Ryder, 2017). A basic line of
defence where banks had in the past dropped their guards is with respect to
“Know Your Customer” (KYC). This important anti-money laundering requirement
needs full compliance for the global fight against financial crime to be
successful. Specifically, a risk-based approach to KYC practice can help
operators in the financial services industry balance regulatory compliance with
business exigencies. Such an approach can help focus attention on potentially
risky clients such as the politically exposed person (popularly referred to as
PEP). The need for some sort of global regulatory alignment to ensure that
there are no safe havens for illicit wealth (Nance, 2018) will require every
nation to review its laws and ensure that loopholes exploited by financial
criminals and their intermediaries are plugged.
CONCLUDING
REMARKS
Fraud
triangle comprising of opportunity, incentive/pressure, and rationalization
(Cressey, 1953) had received wide scholarly attention, it is perhaps time we
switched attention to actors whose moral gap facilitates financial crime.
Vulnerability, gullibility, and culpability represents a collection of
attributes that helps financial crime to spread like wildfire and the criminals
that benefit from them to take the rest of society for granted. Hence, the need
for every individual and organization to undertake a self-assessment as to
whether they may be tacitly facilitating financial crime as a vulnerable,
gullible, or culpable actor in a dark web that leaves society morally and
economically bankrupt.
Liao,
L., Chen, G. and Zheng, D. (2019) Corporate social responsibility and financial
fraud: evidence from China. Accounting & Finance, 59(5),
pp.3133-3169.
Nance,
M.T. (2018) The regime that FATF built: an introduction to the Financial Action
Task Force. Crime, Law and Social Change, 69(2), pp.109-129.
Ryder,
N. (2017) The financial crisis and financial crime in the United Kingdom: A
critical analysis of the response by Financial Regulatory Agencies. The
Company Lawyer, 38(1), pp.4-14.
Angela Lawrence, Associate Dean, Staffordshire Business School
This morning I was labelled a geek. I don’t mind being called a geek (I probably am a bit of a geek) but what is interesting is that this label was awarded as a result of me sharing a plan on twitter. The plan for my allotment in 2021.
Now I don’t feel that planning makes me geeky – I’m a big believer in planning and the saying “fail to plan, plan to fail” is one that I use often. I plan a work “To Do” list at the end of each working day, a shopping list before walking down to the shops, I plan holidays months if not years in advance and yes, I plan which vegetables I am going to grow at my allotment and which beds they will go into. That way I can be sure that the soil will be right for them, the light conditions will suit them and that everything grows together in harmony to produce bountiful harvests.
Planning is a big part of business success – we create business plans, marketing plans and project plans in all aspects of our working life. Without things like business continuity planning, risk management, financial planning, many businesses fail to survive in today’s fast-moving work environment. Students are taught planning not only as part of their studies, but also as part of their own lifestyle management as a student – our students even brought together some tips to share with others in this YouTube video.
Some
would say planning has been difficult during 2020 and it’s hard to plan when we
don’t know what we will be able to do. I think this is actually all the more
reason to plan – if plans didn’t materialise, as so many failed to during 2020,
then we suck it up and plan all over again, whether it be a holiday, a
birthday, a wedding or a study plan for the year. What has been bumped from the
top of the list now goes back into the list again for re-scheduling.
Plans give us hope and they psychologically prepare us, they build anticipation, and they demonstrate commitment. When we plan, we mentally get organised and prepare ourselves and this is a good thing – it saves us from stressing about the unknown, relieves some uncertainty and helps us to cope better.
Plans
don’t have to be big, they don’t have to be impressive, they don’t have to be
written down (although I do get great satisfaction from planning on paper) and
they don’t have to be shared. They may not mean a thing to anybody but you, and
that’s just fine. I can guarantee that you will enjoy your planned activities
far more for having planned them and that you will stress less and cope better
with things that challenge you.
Happy planning – you have a whole year ahead of you, LET’S GO!
Staffordshire Business School is a premier centre for business education with decades of experience in providing business courses at the forefront of industry and technological developments. Business planning is integrated into all of our new business courses – click here to find out more.
Are you looking for free support, ideas and a team to talk to that will help your business through the pandemic, Brexit and beyond?
Staffordshire Business School is now delivering free training in leadership and management to help you and your business exactly when you need it most.
When does the course start?
We have two starting dates either:
Tue 12th January 2021 starting at 3pm
Wed 13th January 2021 starting 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,
Why choose 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
Build leadership confidence and effectiveness
Plan for the future of your business
Build lasting relationships with small business leaders
Improve risk management and efficiency
Eligibility requirements
To join the Small Business Leadership Programme:
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
Your commitment
The programme is designed to be manageable alongside full-time work. Participants will attend eight 90-minute webinars across ten weeks, and complete up to two hours of independent study and peer-supported learning 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 free to attend, and places are limited.
Register Now
There
are two ways to register. Either email one of the Entrepreneurs in Residence as
listed above or follow the simple instructions below (this takes 3 minutes)
and we will be in touch:
Choose either North West (for 13th January start) OR
West Midlands (for 12th January start) from the pink vertical menu on the left.
Scroll through the list of centres until you find Staffordshire University and the date you prefer & click register. There are some screen grabs in the document below if you need them
The coronavirus started in China and
spread to Europe and America in the first quarter of 2020 with a “battle axe” on
businesses. The leadership of the most affected countries have become Santa Claus with their supports to the households and
businesses. Many industries have experienced the offensive side of the coronavirus
battle axe while other industries benefited from the defensive opportunities it
created.
Industries such as Aviation, Road haulage, Ferries, Steel, Horticulture have all taken the pain of the offensive side of the battle axe. For instance, many of the affected developed countries economies are shut down and consumers are under stay at home policy. These have serious negative impacts on these industries revenue and sustainability investments. To complicate the pain emergency loans support from financial institutions have dried up thus, there are fewer chances of survival without taxpayers interventions. Some commentators are of the view that greener pastures are not guaranteed for the industries that will survive the pain as the new world of doing business will emerge.
The likes of the e-commerce marketplace (Amazon); pharmaceutical companies (AstraZeneca and Pfizer); video conferencing (Zoom, Teams and Skype) and entertainment streaming (Netflix) industries benefit from the defence of this deadly axe. The longer the stay at home policy takes more people and businesses start thinking of a different way to sustain their livelihood and businesses from home. Another innovative business opportunity created is the products that many governments make mandatory to be worn everywhere. Although some of these products are reusable, few concerns have been raised about the materials used in the production and the ability to recycle these materials.
This pandemic has brought difficult business operating environment.
Many business leaders are worried about how to sustain productivity to increase
growth by adapting to the new business environment that the pandemic created. Businesses should protect the workforce with physical and emotional support,
empathetic communication, training and retraining of employees in readiness for
recovery. They should review their supply chains and possibly arrange
alternative sources of raw materials or services. Also, businesses should
frequently review the impact of the worst-case situation on the business cash
flow and the governments’ tax relief provisions and other supports. Finally,
business leaders should consider their business digital transformations by increasing
IT infrastructure and digital upskilling.
The Small Business Leadership Programme is
provided by Staffordshire Business School and is fully funded (free).
Participants will develop strategic leadership skills and the confidence to
boost business performance.
The course lasts ten weeks and the next two cohort start dates are West Midlands 12th January 3.00 – 4.30 pm North West 13th January 3.00 – 4.30 pm
Hazel Squire, Head of Department Staffordshire Business School
Global Entrepreneurship Week is a collection of tens of thousands of activities, competitions and events aimed at making it easier for anyone, anywhere to start up and scale a company.
This November 16 – 22, as
part of GEW 2020 Staffordshire Business School together with Staffordshire
University Innovation Enterprise Zone will be hosting a range of activities
aimed at both local businesses and students.
As a nation, the impact of
COVID-19 means we are all seeking and finding new ways of doing things. In an
effort, to build resilience and come together in leveraging the power of new
ideas and innovation we will be launching our Innovation Enterprise Zonehttps://www.staffs.ac.uk/business-servicesthat
will give businesses access to:
Skills
development and support
Researchers,
student talent and experts
Grants
and business support programmes
Innovation
infrastructure and incubation facilitates
Announced last
year, Staffordshire University was one of 20 University Enterprise Zones
(UEZs), launched with a £20 million investment by Research England, part of UK
Research and Innovation.
Furthermore, be inspired offers a full year of start-up support including: information,
advice and guidance from an experienced team of business advisers, regular
meetings with industry mentors of your choice, full business processes
induction, industry-led specialist workshop sessions, networking opportunities,
access to personal growth software, access to personalised legal documentation,
a £3000 tax free grant and, as your idea grows, access to investment
opportunities. Information detailing how to access all this help will be provided
at the be inspired session on Friday 20th November.
Finally, Enterprise
Education has never been more important, as it allows us to equip future
generations with the skills and mindsets, they need to navigate a world of work
that may not even exist yet. Through entrepreneurship activities, learners can
gain key entrepreneurial skills such as critical thinking, problem-solving,
communication, risk-taking and teamwork. Entrepreneurship can offer alternative
pathways for young people, improving their skills, employability and life
chances, while supporting wider economic and social development.
Thus, Enterprise Education is
embedded in to all our courses and as part of GEW Staffordshire Business
School will be providing a week of challenging enterprise activities
working with guest speakers and the be inspired Graduate Start up Programme.
Here is a list of all our free and exciting activities – to book your place use the links provided in the table below:
*Our Innovation Enterprise Zone is one of the only 20 awards around the UK and is embedded at the heart of our campus, IEZ offers unprecedented access to specialist advanced materials, manufacturing and digital facilities, research, student talent and funding to support and accelerate innovation-led growth.
*Introduction to our new Incubator and Accelerator facility, what it is and how it supports start-ups and SME’s. Delivered by Kelly Bradley. Programme Manager
*Whether you are looking for research and development advanced manufacturing techniques or process improvement – hear how we can help you succeed! Delivered by Rachel Wood. Programme Manager
THURSDAY 19TH NOVEMBER
*An outline of the programme, benefits of knowledge exchange and how to get involved. Delivered by Marc Wootton. Programme Manager
*This webinar is an introduction into our dedicated project SCIMIA and other wide support for businesses, Delivered by: Marek Hornak – Head of Employer Partnerships and Enterprise
Staffordshire Business School
aspires to be a leader in making a real impact on business and society through
research and innovation. Our team have successfully delivered many industry/business
and government funded research projects and have extensive experience of
leading large team projects including local, UK, EU and internationally funded
projects. Many of our team members combine rich industry and practitioner
experience with academic rigour in conducting world-leading research in the
areas of entrepreneurship and innovation, digital transformation, environmental
health etc. Here are some of the exciting research projects that researchers at
Business School have been doing:
Austerity, Welfare and Work: Exploring Politics, Geographies and Inequalities
In his new book, Prof David Etherington provides bold and fresh perspectives on the link between welfare policy and employment relations as he assesses their fundamental impact on social inequalities. Drawing on international and national case studies, the book reviews developments, including rising job insecurity, low pay and geographical inequalities.
Environmental health inequalities resource package
Prof Jon Fairburn is the lead author of a recent World Health Organization publication. The publication is aimed at local, regional and national policy makers hoping to improve environmental health especially for deprived and other groups. Jon has been collaborating with WHO for over 10 years on this subject.
Covid-19 and Smart Cities – What’s Changed? Getting ahead of the Game
Prof Fang Zhao and her team have been conducting research and analysis of a range of changing scenarios of smart cities in post-Covid-19 and pinpoint the opportunities and challenges for businesses, city councils and universities. Their research focuses on strategies, tactics and digital transformation.
The Impact of COVID-19 on BAME Owned Businesses in the UK
The project led by Dr Tolulope Olarewaju is investigating the specific challenges that BAME 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. The project is funded by the British Academy.
People, Place and Global Order: Foundations of a Networked Political Economy
This book co-authored by Dr Andrew Taylor explores how the convergence of technology and globalisation is shifting value creation out of products and processes and into digital networks and, in the process, leaving many people behind. He is looking into examples and models of how people and place may flourish within global networks.
Leadership typology reveals how smart city leaders prefer to tackle inequality
The research of Associate
Professor Alyson Nicholds sheds light on how leaders, operating in different
organisations, roles and sectors prefer to tackle inequality differently. Her
latest writing draws on organisational concepts of leadership and philosophy to
show the benefits this type of understanding can reap for society.
Entrepreneurs in Residence
Business School has recently
appointed Entrepreneurs in Residence providing students and staff with hands-on
experience in conducting research to spot business opportunities, conduct market
analysis and better understand consumer behaviour, leading to business venture
creation.
For more information and collaboration
and partnership, please contact Prof Fang Zhao – Associate Dean Research and
Enterprise at fang.zhao@staffs.ac.uk.
The MSc in Digital Marketing Management was developed to deliver the technical, strategic and organisation skills for this industry. As such the course includes a substantial project with an external client and this work is credited as part of the award. Carrying out a project at the height of the pandemic was even more challenging than usual with everything needing to be done remotely and ongoing changes to adapt to the new situation – so Congratulations to the students below for these excellent projects.
Eerik Beeton carried out a project for The Waterfront Gallery, in Milford Haven, West Wales. This has involved developing the ecommerce offer on the website, creating social media channels Facebook, Instagram and helping to recruit volunteers for the gallery.
Eerik Beeton who carried out a project at the Waterfront Gallery in Milford Haven, Pembrokeshire
Charlotte has a new marketing job with the Aston Care group in Stone
Craig Holdcroft carried out a project for the Donna Louise Trust developing the website and social media. He has also started his own marketing business, Holdcroft Digital Marketing while at Staffordshire University, completing projects for a number of Micro and SME’s.
Craig Holdcroft is running his own agency and part-time lecturing for business and marketing.
Grace Thomson started a student peer blog for the Staffordshire University Careers Studio and this has now been incorporated into the main careers website for the University. The project included providing guidance and training for students across the different faculties in blog writing and social media. The blog has already achieved 23,000 reads in the short time it has been up.
