Carol Southall, Senior Lecturer, Staffordshire Business School

As the ‘Connected University’, Staffordshire University has a long history of working with international partners to deliver undergraduate and postgraduate education worldwide. Such links facilitate UK higher education (HE) provision, making HE available to those for whom it would otherwise be unaffordable were they to have to travel to the UK to study.

One such partnership is with the successful British University Vietnam (BUV), located in the north of Vietnam, in the country’s capital, Hanoi.

Now with a new, purpose-built campus in the Ecopark area of the City, BUV is expanding its course provision and consequently its student base, and now attracts students not only from Vietnam but also a small number from countries such as S Korea, Mongolia and Pakistan.

Since 2016, BUV have offered a UK summer school to their students, with small numbers, accompanied by staff members, travelling to the UK to spend a week at Staffordshire University and a further week exploring England.

In 2019, Student Experience funding made it possible for the first time to offer such an opportunity to Staffordshire Business School’s (SBS) Tourism Management and Event Management final year students based at Staffordshire University’s Stoke-on-Trent campus. The fund, with an additional contribution from students, supported the field trip to Vietnam to engage with British University Vietnam’s inaugural tourism conference, 5-6 December 2019 – ‘Vietnam Tourism in the 21st Century’.

Keynote speeches focused on ‘Sustainability’ and ‘The Journey to Cultural Awareness’, delivered by SBS Senior Lecturer and BUV Academic Link Tutor Carol Southall. The Vice Chairman of Vietnam National Administration of Tourism (VNAT) Dr Ha Van Sieu also outlined the exponential growth in Vietnamese tourism since the country opened its doors to tourism from the West in 1988, from initial arrivals figures of under 93,000 to 16 million in 2019.

With his focus on ‘The Good, the Bad and the Ugly’, or rather ‘The Good, Risks and Challenges’, Andrew Nisbet, Cluster General Manager of The Hilton Hanoi Opera and Hilton Garden Inn Hanoi, discussed the importance and development of the hospitality industry in Vietnam and its challenges going forward. Such challenges included staff development and training and the importance of education. Additional challenges identified by other speakers included destination marketing and the comparatively low marketing budget of US$2 million annually, compared to the US$80 million budget invested in Thailand’s destination marketing, as well as airport capacity and alternative (niche) tourism products and services.

Throughout their time in Hanoi, students were able to experience traditional northern Vietnamese food, including delicacies such as Egg Coffee, Bánh mì and Bun cha, the latter being immortalised in the tourist ‘must-eat’ list, after the then US President Barack Obama visited Hanoi and ate Bun Cha at a local restaurant in 2016. 

The visit also incorporated key tourist sites such as the jaw-droppingly beautiful Trang An Landscape Complex, recognised by UNESCO and located within the Ninh Binh Province of North Vietnam, near the southern edges of the Red River Delta. Other excursions included a boat trip through Halong Bay, another UNESCO World Heritage Site, as well as local attractions in Hanoi including Ho Chi Minh Mausoleum, the Temple of Literature, Ho Lao prison (the infamous Hanoi Hilton), Walking street, Heritage House, Hoan Kiem Lake, Old Town and the City’s night market.

A highlight of the visit was an evening reception at the British Embassy Hanoi, where students and academics networked with industry to discuss their experiences of Vietnam and possible future opportunities. Visiting Discova, a Hanoi-based inbound Tour Operator, on their last day, students discovered more about tourism in Vietnam, and how a tour operator capitalises on international markets. Discussions were held around how the first Formula 1 in Hanoi in April 2020 will put Vietnam ‘on the World Stage’, evidencing to Event Management students the importance of global events in showcasing a destination. Students also heard more about the challenges faced by Vietnamese tourism organisations and operators, including those of sustainability, repeat visitation, cultural sensitivity and the competitive nature of the MICE market (Meetings, Incentives, Conferences and Events) and the corresponding growth of destinations such as Hanoi, Danang and Ho Chi Minh City (Saigon) as MICE destinations.

As a connected University it is imperative to consider how we connect, not just locally, regionally and domestically, but also globally. Opportunities for cultural exchange, such as field trips, virtual classes, Skype/Microsoft Teams discussions, staff and student exchange, placements and collaborative academic research projects all enable the interaction required to facilitate cultural understanding and integration, leading to higher levels of cultural competence.   

For students on an undergraduate degree there can be no doubt that such a trip is a life-changing experience. Becoming a global citizen and melting the cultural iceberg takes time. We need to understand the journey from cultural sensitivity to increased cultural awareness and cultural competence, and ultimately to global interconnectedness and understanding. But any journey starts with the first step, and for Staffordshire Business School students, their journey to cultural competence is well-underway.

Week Commencing Monday 20^th January 2020

Starting from Monday 20th January, Staffordshire Business School will be running a whole week of activities designed to enhance student employability and enterprise skills.

Activities include:

• TestFest exams to become a certified Miscrosoft Office Specialist
• A drop in session to discuss ideas and suggestions with the Business School Senior Management Team
• Guest speakers from organisations such as the Staffordshire Chamber of Commerce and international universities

Take a look at the schedule below for timings and more information:

Jordan Hubble, MSc Digital Marketing Management student

Augmented Reality (AR) is predicted to become one of the biggest Digital Trends of the new decade. Augmented reality is the result of using technology to superimpose information (sounds, images and text) on the world we see. Forms of AR have been around since the 1990s where Fighter Aircraft were able to show details on heads up displays and later identifying objects in their field of views as targets. It’s only in recent years where it’s been implemented into the publics almost every day use. AR is predicted to be worth $34 billion by 2023. On the other hand, with adding the VR market expectations, the sum of total market size of AR and VR will be more than 100 Billion USD in total. The reason why we sum AR and VR is, soon the distinction between AR, VR or Mixed Reality technologies will be diminish and we will start to evaluate the techniques in XR (Extended Reality) universe.

With each new step forward into the digital revolution, films like ‘The Matrix’ are becoming more like reality with every new step. Software and Hardware engineers are continuing to refine their AR software’s to the point where it is already blurring the line between real life and virtual life.

The first real AR software to take the general public by storm was Pokémon Go. Pokémon go was a mobile game that was released in 2016, which was developed by Niantic as part of the Pokémon franchise. The game uses the players GPS to locate, capture, battle and train their virtual Pokémon which will appear on the user’s screen as if they were at the players real-world location. The game follows the freemium business model in the sense that it is free to play, however it charges for in-app purchases.

By the end of 2016 it had more than 500 million downloads and was the most used and most profitable apps that year. It was credited with popularizing AR technologies as well as promoting physical activity. By early 2019 the game had over a billion downloads, grossing over $3 Billion and over 147 million monthly users.

It was only a matter of time before AR moved into the Fashion as you’d think that the two things go hand in hand together. Giving buyers the ability to see what they’d look like in clothe without even having to try them on or leave their house. ASOS launched its first AR feature called Virtual Catwalk which will allow to have a new way of trying on the clothes that they wish to buy. The online retailer is also trailing other AR features, including a tool which allows customers to view products on different size models, so customers can get a better sense of how something might fit their body shape.

Augmented Reality has also been introduced into the world of IKEA. IKEA released an App which is called IKEA Place and lets users use AR to see what IKEA furniture would look like in their homes before they go to one of their stores and buy it. To make the models work within the app, each one had to be squeezed down to a file size less than 1.5 megabytes large. This meant a careful balancing act of reducing the size while making sure the detail and texture of the model remained. Too little detail, and the illusion of placing a real item in augmented reality would be shattered.

Allowing buyers to be able to use Augmented Reality to see how clothes would look on their own bodies digitally will eventually change how the general public view the high street and here’s why. If you give someone the opportunity to be able to go online and digitally be able to see what an entire outfit or shopping haul would look like on their body without even leaving their house, they’re just going to do it over and over again. It removes the need for the high street, for bigger brands at least. The smaller independent brands are never going to have the financial backing to be able to introduce AR so will no longer be able to compete with their competitors.

AR is a relatively new technology that is only going to get more backing and funding to create more extraordinary software’s that will continue to push the barriers in terms of what is achievable with AR. They will be a lot more realism with what will be possible, it is exciting to see what is going to happen and how different developers will develop this software to help change the digital world forever. Will it become what it is predicted to be, or will it fall flat like many types of software before it? 2020 will definitely be the start of finding out.

Dr Ahmad Mlouk, Senior Lecturer, Staffordshire Business School

In a ‘Global Financial Literacy Survey’ carried out for S&P in 2014, four questions were asked to measure financial literacy among world population whereby 150,000 people were surveyed in more than 140 countries. The following 4 questions were asked (answer options in brackets) and those who correctly answered 3 out of 4 questions were regarded as ‘financially literate’.

1. Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments? [one business or investment; multiple businesses or investments; don’t know; refused to answer]

2. Suppose over the next 10 years the prices of the things you buy double. If your income also doubles, will you be able to buy less than you can buy today, the same as you can buy today, or more than you can buy today? [less; the same; more; don’t know; refused to answer]

3. Suppose you need to borrow 100 US dollars. Which is the lower amount to pay back: 105 US dollars or 100 US dollars plus three percent? [105 US dollars; 100 US dollars plus three percent; don’t know; refused to answer]

4. (i) Suppose you put money in the bank for two years and the bank agrees to add 15 percent per year to your account. Will the bank add more money to your account the second year than it did the first year, or will it add the same amount of money both years? [more; the same; don’t know; refused to answer]

(ii) Suppose you had 100 US dollars in a savings account and the bank adds 10 percent per year to the account. How much money would you have in the account after five years if you did not remove any money from the account? [more than 150 dollars; exactly 150 dollars; less than 150 dollars; don’t know; refused to answer]

You might wish to have a go at this survey. The first 10 correct answers to all questions can each claim a free bar of chocolate. In order to participate, you must be based at Staffordshire University Stoke Campus. E-mail your answer to: a.mlouk@staffs.ac.uk

Sadly, the outcome of the survey was that only one third of world adult population are financially literate. This picture is a lot better for most developed countries, in the UK for example, according to the same survey, two third of adults are considered financially literacy. However, a recent Financial Conduct Authority survey found that 4.1 million people to be ‘in serious financial difficulty’, which means they are unable to cope with the payments of credit card and other debts. According to the Money Charity in the UK, total debt per adult was £31,284 at the end of August 2019, total interest payment over 12 months to the end of August 2019 was a staggering amount of £50,722 million, that is the equivalent of £139 million per DAY! Students have a big share of this … they need to be savvy with their economics, political and financial affairs! They need to become super financially literate in order to overcome this big hurdle in their early life and career! The above is not sustainable and there has to be a way out of this ‘open prison’ for so many people.

Here is a good tip for you: plan your finances AND avoid the use of credit card if at all possible and, if used, ensure to pay off the balance on time otherwise you will pay ridiculously high interest. Credit card interest on average at the end of August 2019 is 20% per annum at the time when Bank of England base rate of interest is 0.75% (November 2019). For more information and to further develop your financial literacy, visit www.themoneycharity.org.uk.

We offer undergraduate and postgraduate courses in Accounting and Finance at Staffordshire Business School

As we enter November and preparations for Global Entrepreneurship Week begin around the World, Angela Lawrence, Associate Dean of Staffordshire Business School reflects on sporting success, failure and the qualities of a successful entrepreneur

Mention the title entrepreneur and who do you think of? Richard Branson, Bill Gates, Anita Roddick? These famous names are just the tip of the iceberg – actually there are 582 million entrepreneurs in the world. So with a world population of 7.7 billion, this means that there is approximately a 1 in 13 chance that you are or will become an entrepreneur!

Whilst cheering the England boys along in the Rugby World Cup recently, it has occurred to me that our team offers a few tips for budding entrepreneurs. England last won the Rugby World Cup in 2003, so the battle continues after 16 years of knock backs and failed efforts. Disappointment in the finals, losing against the Springboks shouldn’t lessen acknowledgement of the victory that we saw just one week earlier, when England beat the All Blacks to claim their place in the finals.

So, what can the budding entrepreneur learn from a team of brawny sportsmen who crashed out at the final hurdle?

1. Never give up

The odds were against our England boys in the semi-finals against the All Blacks, but they stood proud and strong as they faced their nemesis, determined not to give up or let the competition threaten them.

Even after suffering a crushing defeat in the finals the England team should take time to recognise what they have achieved over the course of the competition. As coach Eddie Jones said after the game, they “didn’t meet their goal to be the best team in the World, but they are the second best team in the World, so that’s how they should be remembered”.

Nothing is impossible. At times you will probably make wrong decisions, feeling like everything is going against you, but when the chips are down you need to stand strong – pick yourself up, dust yourself off and start again. It’s all about resilience and the ability to bounce back from adversity.

2. Everyone needs a team

Individually you can be brilliant, but with the support of a strong team you can be amazing! As the saying goes, teamwork makes the dream work! The phrase is said to be coined by John Maxwell, an American clergyman, who went on to say, “but a vision becomes a nightmare when the leader has a big dream and a bad team”. Even the most successful entrepreneur has a team around them and it is often the hard work and determination of the team that makes sure the entrepreneurial dream becomes a reality.

England captain Owen Farrell converted some magnificent tries throughout the competition, but the ability to kick a peculiarly shaped ball between two goal posts would not win a match without the hard work of his teammates, battling the opposing side tirelessly and creating opportunities for conversion.

3. Don’t be intimidated

Starting out as an entrepreneur, there will always be people who will tell you that you’re wrong, you’ve no idea, you’re living in cloud cuckoo land! It’s important to have the courage of your convictions and not to be deterred. You have a vision and you need to hold true to that – don’t be put off or intimidated by others. Face your fears, hold your head high and believe in yourself.

The Haka, a ceremonial dance complete with angry faces, stamping of feet and what could be perceived as threatening growls, was performed as expected prior to the England versus All Blacks semi-finals in the Rugby World Cup. The England team stood strong, forming a v-shaped formation and showing that they were not intimidated in any way. Their response, as reported in The Guardian said “Challenge laid down, challenge accepted”

4. Look after yourself

We wouldn’t expect a professional team to play an energetic and bruising game like rugby, day after day without giving their bodies time to rest. World cup tournaments are planned to allow rest days between games, in recognition of the fact that teams need to rest and reform. A week between the semi-finals and the finals in the Rugby World Cup gave the England team time to recover, rest and prepare themselves mentally and physically for the all important culmination of years of training.

Creative thinking, invention, innovation and challenging the norm can be hard work. There will be days when everything falls apart and your risks are costly, times when you feel you can’t go on. It’s at times like these that you need to take time out to rest. Downtime is crucial – learning how to balance work and rest is essential to avoid burnout.

About Global Entreprenuership Week:

From the 18-24 November, Global Entrepreneurship Week inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators. These activities, from large-scale competitions and events to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors—introducing them to new possibilities and exciting opportunities…Continue reading

Learn more about Global Entreprenuership Week 2019 by visiting: https://www.genglobal.org/united-kingdom

#GEW2019

30th October 2019

Staffordshire Business School has been awarded funding to support 50 microbusinesses to engage with technology to boost their productivity.

Staffordshire Business School is part of a consortium of business schools accredited by the Small Business Charter for their expertise in supporting small businesses and entrepreneurs who will deliver the programme. The Leading to Grow Programme will be offered at no cost to microbusinesses across Staffordshire.

Businesses that employ up to nine people will be able to apply to take part in workshops around how to use existing technologies to improve efficiency and profitability.

The funding has been made available through the government’s £8m Business Basics Programme run by the Department of Business, Energy and Industrial Strategy (BEIS) and Innovate UK.

Hazel Squire, Head of Department at Staffordshire Business School, said:

“As a digital University, this learning is an essential part of our offer to students and we’re delighted to be able to run The Leading to Grow Programme for small businesses in our region who may not have had access to this level of training and expertise.

This is in keeping with our Civic University commitment as it will ultimately enable businesses to grow and become more successful and have a positive impact on skills and the region’s economy. The programme will run from January and we are inviting interest from small businesses in our region who fit the criteria.”

Due to the small size and the dispersed nature of microbusinesses, they have not routinely received planned interventions by government agencies. The government is now targeting this type of business due to their potential and readiness to scale-up, and this is the first time that such a programme has been coordinated across the country.

The UK’s 1.1 million microbusinesses employ over 4 million people and contribute £533bn to the UK economy. The business schools, the Small Business Charter and the government hope to make a real impact on this important part of the economy.

Anne Kiem, Executive Director of the Small Business Charter and Chief Executive of the Chartered Association of Business Schools, said: “We are excited to be working with business schools to help improve the productivity of a range of microbusinesses. The pace of technological advances means that today’s small firms who embrace innovation will be tomorrow’s success stories.”

To register your interest in the Leading to Grow programme, email Eloise White at Staffordshire Business School on Eloise.White@staffs.ac.uk

Dr Mohammad Ali Wasim, Lecturer, Staffordshire Business School

In this time of uncertainty where Brexit is looming round the corner there is some form of relief for international students who make their way to the UK for higher education. Despite paying a significantly higher fee they end up being unable to find work due to strict visa restrictions which make it difficult for companies to sponsor their work visas. Experts argue that this was a smart move by the government given the fact that post Brexit there could be a significant impact on the labour market and to cater to the potential shortage the post study work permit would be a ‘win, win’ scenario. The employers would be able to fill the gaps with UK qualified international students and the international students would get an opportunity to benefit from UK work experience.

It is difficult to evaluate at this stage the impact the visa regime would have as a further analysis on the impact of Brexit on different industries needs to carried out. In hindsight when the visa regime was made stricter during the tenure of Theresa May as Home Secretary in 2012, the UK found it difficult to recruit international students and the students then preferred Australia and other EU countries over the UK. Experts argue that the full benefit of the scheme would be observable once the new visa regime comes into operation in 2020 and how it pans out for the benefits of the students and whether it is extendable beyond two years. A longer term opportunity would be beneficial for both the potential UK employers and their international student employees. This scenario also needs to be looked at keeping in mind the excessively high visa and its extension fee which the international students will have to bear when shifting to the new regime.

Staffordshire University has a significant influx of international students every year and this new visa regime would help secure more international candidates who would not only add to the diversity at the University enhancing student learning but also contribute to the local economy where initially students may participate through part time jobs to gain experience. In addition, employers would also have an advantage as they will have a bigger pool of resources to recruit and potentially benefit from.

Like any government policy, consistency is the key to its success. With changing governments and their fluctuating policies the impact of potentially beneficial schemes may be limited. The hope is that given the circumstances and uncertainty due to Brexit, the return of the post study work permit would be a permanent policy decision and not impacted by the outcome of the Brexit deal. Otherwise it would be considered more of a political gimmick to gain short term support and appease the disgruntled public because of the Brexit uncertainty.