Is Live Nation’s market share cause for concern?

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Written by Paul Walters, Lecturer, Staffordshire Business School

The global event industry has grown significantly over the past ten years and in part due to the introduction of Live Nation as a concert touring company. The UK has benefited from their strategic alliances, buyouts and ownership with some of the entertainment products in the UK. The company has grown to become more than live music but a one stop-shop for venue management, artist management, ticketing, concert touring and festival management. Some commentators within the industry have aired their views as to the growth and dominance of Live Nation within the UK. The company was investigated by the Competition Commission regulator on the merger with Ticketmaster. Not the first time Live Nation was investigated by the UK regulator. One can debate if Live Nation has a market share of the UK live music industry that warrants concern. It is difficult to disagree on what Live Nation has brought to the global economy for live events. The company is now in more than 40 different countries developing a similar business module taken from the USA. It is therefore accurate to conclude that Live Nation is the largest live concert touring company in the world.

In an article published in Music Business world 2018, The Association for Independent Festival organiser is considering lodging a complaint to the Competition and Marketing Authority. It is claimed by AIF that Live Nation has 25% control over the UK festival industry.        

https://www.gov.uk/cma-cases/ticketmaster-entertainment-live-nation-inc-merger-inquiry-cc

Association of Independent Festivals

 


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Harnessing the power of social media for small businesses

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Written by June Dennis, Dean of Staffordshire Business School, Chartered Marketer and Trustee of the Chartered Institute of Marketing.

If you only have a small marketing budget, social media can seem like an ideal way to promote your product or service. Twenty years ago marketers could only dream of having access to such a huge audience so quickly.  However, where does one start?

Here are just four suggestions that could help you get more out of that limited budget:

Know your audience – it’s so obvious, but it’s really easy to make the simple mistake of taking your eye off the ball when it comes to ensuring your communication channels and messages are targeted at the appropriate audience(s).  We can get carried away by all the opportunities open to us that we forget what the purpose of engaging with social media actually was!  For example, why use Facebook if you’re primarily targeting a business-to-business audience?  (Sometimes, there’s good reason to do so, but you need to know why).  Spend time to make sure you know who your intended target audience is and what the key message is that you want to communicate with them.  Only then can you identify and choose the communication methods which best fit your message and audience.

Know your limitations – basically, don’t try to do too much!  Social media may seem very low cost compared to other forms of advertising or sales promotion, but there is still the cost of your time to factor in, at the very least.  It’s also very content hungry and if you commit, say, to writing a daily blog or tweeting several times a day, you may find you crash very soon.  Take note of what other businesses your size manage to do and try, where possible, to plan out your messages in advance.

Know how to create synergy – try to use the same or similar content more than once if you can. So, if you write a blog or post something on LinkedIn, can you direct people to it via Twitter? Could you use the copy for some promotional material or a newsletter? When you put something on YouTube, how can you maximise its use? It’s pretty obvious, but not everyone does it. Encourage customers and staff to send in stories which you can promote. I’ve found that people get a buzz from seeing something they’ve submitted being used or published and it creates a virtuous circle and they submit more material….

And, finally, think of ways you can work with others to create mutual benefit. A while back, I did an interview for a friend who was looking to increase traffic to her website via YouTube. As a result, I also sent links to my contact to her webpage and used the content of the interview to develop this blog. We both benefited and had some fun doing it.

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Jobs of the future

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Written by Rachel Gowers, Associate Dean

By 2025 it’s estimated that we will lose over five million jobs to automation. Don’t worry though – jobs are getting more interesting with machines handling the more mundane tasks. Your time will be freed up from performing the repetitive tasks of the past so you can focus on more fun stuff like knowledge creation and innovation. Here are some of the jobs to look out for:

Data Analyst – Data analysts are in high demand across all sectors, such as finance, consulting, manufacturing, pharmaceuticals, government and education. Data analysts translate numbers into plain English. Every business collects data, whether it’s sales figures, market research, logistics, or transportation costs. A data analyst’s job is to take that data and use it to help companies make better business decisions.

Forensic Accountant – As a forensic accountant, you’ll utilise your accountancy skills to investigate financial discrepancies and inaccuracies such as fraudulent activity, financial misrepresentation or misconduct and disputes. The role involves an integration of accounting, auditing and investigative skills. You will carry out meticulous investigations to uncover information, identify specific irregularities in financial documents and reports, quantify the exact losses and trace and recover illegitimate funds.

UX Analyst – User Experience (UX) roles involve delivering the best possible experience for the user of a website, with the aim of making the website as straightforward to use as possible. The term UX analyst arises as the role involves a lot of analysis of users’ behaviours and preferences in order to create the best experience for the user. As a UX analyst you will look at the content of websites, and also the design elements, such as colours and images. Within some companies you’ll focus on research skills and psychology, in others you’ll concentrate on design and in some you’ll fulfil a more technical IT role.

Content Creator – A content creator is someone who is responsible for the contribution of information to any media and most especially to digital media. They usually target a specific end-user/audience in specific contexts. Facebook hires thousands of content creators and editors every year to not only provide content but also to monitor what is happening on-line.

Talent Manager – A talent manager’s responsibilities include designing employee training programs, building succession plans and crafting an internal promotion process. To be successful in this role, you should have a solid understanding of full-cycle recruiting along with a strategic mind-set in order to develop a skilled workforce. Ultimately, you will build a talent pipeline that aligns with our hiring needs and business objectives.

Customer Experience Manager – Customer Experience Managers can be in any industry, here are responsibilities for a manager in the leisure and Theme Park Business. You’ll propose and implement strategies to constantly improve customer satisfaction and park development. Additionally, you may also oversee or take sole responsibility for the marketing of the park in order to generate business. You’ll be involved in all areas of the park, including rides, retail and food and beverages. Theme park managers may also be known as guest experience managers, rides and operations managers or attractions managers.

 

If you’re interested in a job of the future our Business and Accounting Degrees prepare you for these roles.

If you’re interested in a career in Leisure why not try the FdA in Visitor Attraction and Resort Management in partnership with Alton Towers.

The age of innovation: Has the time come for the paradigm shift in innovation policy?

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By Ema Talam

The United Kingdom is classified as Innovation Leader in the latest European Innovation Scoreboard. Although it excels in performance compared to the European Union average in 2017 on various indicators used (e.g. International scientific co-publications, Innovative SMEs collaborating with others, Foreign doctorate students, etc.), it stands out that the United Kingdom performs very poorly compared to the EU average  on the following indicators: R&D expenditure in the public sector and R&D expenditure in the business sector (the percentages for the UK are 67.0% and 85.1% of the EU average in 2017, respectively) (European Commission, 2018).

Businesses in the UK are the main contributors to the total R&D expenditure and this contribution has increased from 2005 on wards. Hodges (2018) points out: “Focusing on civil (non-defence related) R&D, in 2016 53% of all R&D performed in the UK was funded by businesses, 8% by higher education institutions or funding councils, and 17% by government, including the research councils”.

Increasingly, the majority of funding for R&D performed by businesses comes from businesses themselves—the share was 63.0% in 2010 and was 10 percentage point higher in 2016. The government funding for R&D performed by businesses decreased by 2.1 percentage point from 2013 until 2016 (from 9.9% to 7.8%) (Hogdes, 2018).  Research and development also becomes important in the context of Brexit. Dhingra et al. (2017) recognise lower research and development as one the factors that can lead to productivity and welfare losses in the event of Brexit.

The importance of innovation for growth is often emphasised (Van Reenen, 2011). Furthermore, my previous blogs 1, 2, 3 gave detailed accounts on the links between innovation, productivity and exporting. Although not the sole determinant of innovation, the role of research and development (R&D) can be significant in the process of innovation of a firm (OECD/Eurostat, 2005; What Works Centre for Local Economic Growth, 2015a; What Works Centre for Local Economic Growth, 2015b).

Due to the presence of market failures, governments use different instruments to increase private R&D spending by firms and commonly used ones are R&D tax credits and R&D subsidies. When it comes to R&D tax credits, firms make their own innovation choices, while in the case of R&D subsidies, policymakers are the ones who choose to whom the subsidy will be granted (What Works Centre for Local Economic Growth, 2015a; Dechezlepretre et al., 2016). Numerous studies have dealt with the issue of effectiveness of R&D tax credits and R&D subsidies on increasing R&D investment, innovation or economic performance of a firm.

Some empirical evidences suggest that R&D tax credits have been effective in increasing R&D investment, innovation and improving economic outcomes of a firm (Czarnitzki et al., 2011; What Works Centre for Local Economic Growth, 2015a; Dechezlepretre et al., 2016). For example, Dechezlepretre et al. (2016), using UK data, show that R&D tax credits had positive impact on innovation (i.e. patents), productivity, sales and employment. The effectiveness of R&D tax credits is shown to be different in different industries and sectors the firms are operating in (i.e. differences in the effectiveness are found between high- and low-tech industries), the size of firms (i.e. predominantly, the effect is larger for SMEs) and the age of a firm (i.e. R&D tax credits are more effective for young compared to older firms) (Castellacci and Lie, 2015; What Works Centre for Local Economic Growth, 2015a; Dechezlepretre et al., 2016). Evidence also shows that the impact of R&D tax credits is larger in the long-run (Bloom et al., 2002).

The impact of R&D grants, loans and subsidies on R&D expenditure, innovation and economic outcomes is inconclusive (What Works Centre for Local Economic Growth, 2015b). However, the study by Benavente et al. (2007) on Chile, found the positive impact of R&D subsidies on: process innovation, employment, sales and exports. Furthermore, the analysis by Dimos and Pugh (2016) shows that R&D subsidies have a positive, but small effect on private R&D. In particular, they state that: “findings reject crowding out of private investment by public subsidy but reveal no evidence of substantial additionality” (Dimos and Pugh, 2016, p. 811).

Latest thinking on innovation policy suggests that, in order to achieve smart, inclusive and sustainable economic growth, the focus of government intervention should not be on fixing market failures. Instead, Kattel and Mazzucato (2018) point out to the importance of mission-oriented policies and state: “The role of the public sector here is not just about de-risking, and levelling the playing field, but tilting the playing field in the direction of the desired goals—creating and shaping markets which increase the expectations of business around future growth opportunities, thus driving private investment.” (p. 2). In this case, quantity or rate of innovation are believed to be the second-order issues, while quality and direction of innovations emerge as the top priorities. According to the authors, putting missions at the heart of innovation policy can be used to address numerous challenges and problems that today’s societies are facing. Public investments centred around particular mission can create new markets and shape the existing ones. Mission-oriented policies, according to the authors, are gaining on popularity again.

Innovation matters. Due to its economy-wide impact, governments use different measures to support innovation. Approaches aimed at fixing market failures, such as R&D tax credits and R&D subsidies, generally showed to be effective, although sometimes having only small effects. However, throughout the history, there were also evidences of successful mission-oriented policies that re-shaped the whole societies. Given the stated, the real question is: Has the time come for the paradigm shift in innovation policy?

References – Innovation policy blog – v249 are here

 

A Recipe for Success

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Written by Angela Lawrence, Associate Dean at Staffordshire business school

There’s an Autumn nip in the air, the Great British Bake Off has begun and the annual McMillan World’s Biggest Coffee Morning is just around the corner. Kenwood mixers are whirling into action in kitchens across the UK.

Meanwhile, bags are being packed, goodbyes said, and freshers are itching to begin their university life. Around the World lecturers are preparing to welcome their new students and planning for the academic year to come.

It strikes me that these two situations have something in common. I wouldn’t go as far as to say that all lecturers are good bakers (far from it!), but there is something vaguely familiar about the nurturing, caring principles of baking and lecturing; the desire for a good outcome and the commitment to working hard to achieve this.

Quality Ingredients

Ever tried baking a cake with less than quality ingredients – with a dodgy cooker and scales that don’t quite weigh correctly? The chances are your cakes won’t turn out to be as good as you would like them to be. Quality, fit-for-purpose equipment and excellent ingredients are needed to guarantee the bake that you are looking for.

When choosing a university to spend three or more years of their life at, prospective students similarly seek quality – high rankings in the league tables and TEF, good NSS scores, high levels of student satisfaction and committed, highly qualified academics. A quality university is needed to turn out a top-notch, highly qualified and work-ready graduate.

The Recipe

Even quality ingredients can’t ensure a perfect bake if the recipe is wrong. One too many eggs or not enough baking powder and the cake’s a flop.

The same balance needs to be considered within the course that a student selects. The onus is on academics to create a balanced mix of exciting learning content, activities, guest lecturers, trips and course materials to ensure that students learn exactly what they need to know. Miss out a vital ingredient and students will struggle to achieve success in their assessments.

The Temperature

Too hot an oven and your cake will burn. Too cool an oven and your cake won’t rise. Getting the temperature right is as important as having the correct recipe.

Lifelong friendships are made at university, so a good balance between studying and fun is needed. The correct work-play balance creates an environment in which students flourish – without the fun some students struggle with the pressure of study and can be tempted to drop out. Too much fun and grades may suffer. A good university seeks to provide exactly the right balance between social and study. Student Unions, personal tutors, pastoral care and student guidance teams are all there to support students in getting it right.

Decorations

Jam and cream fillings, a sprinkle of icing sugar here, a coating of chocolate there and your cake is more than a cake, it’s a thing of beauty. It’s those finishing touches that make your cake the one that everyone wants to take a bite out of.

Similarly, a degree is not enough. Employers are inundated with graduate applications for advertised vacancies, and applications that stand out are those where the candidate has more than just a degree. Work experience, success in student competitions, self-awareness, confidence, professional presentation, global awareness…these are many of the added extras that lead an employer to choose YOU over other applicants.

Staffordshire University has a recipe for success. A university that has risen to within the top 50 universities in the league tables, been awarded a gold in the TEF, achieved one of the highest graduate employability rates in the UK and provided a supportive and fun environment in which students flourish.

Would you like a taste of our recipe? Come and visit us at one of our Open Days to find out for yourself – we can promise you a delicious time.

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Leaders versus Leadership

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Professor Rune Todnem By, MBA and Senior Leader Master’s Degree Apprenticeship course leader

r.t.by@staffs.ac.uk   @Prof_RuneTBy

Leadership is often defined as “something leaders do”, and this common (mis)understanding is the cause of much confusion, conflict, and under-utilisation of resources in both organisations and the wider society. Finding themselves somewhat pre-occupied developing superhero Teflon-shoulders, flip-flopping around meeting short-term targets in support of their own survival, bonuses, the next step up the career-ladder, and a golden pension others can only dream of, too many formal leaders simply don’t have any time left to provide leadership. However, many who don’t perceive themselves as leaders do provide leadership. Tons of it – every day (that is if we could measure it in metrics). When cheering on your child, supporting a colleague, taking your grandparent to a doctor’s appointment, picking up some litter, or volunteering in a club or society, you are in fact undertaking acts of leadership through actively contributing to a better society.

To live in a society which we like to refer to as highly advanced and developed, we are rather backwards.  Many of our institutions and organisations are still operating under the Great Man concept, with one all-powerful, strong and macho leader whose word is law. This is often a person we all tip-toe around and tell what they want to hear. Well, this reflects power – not leadership. Leadership is the activity of undertaking a journey together in order to deliver on a common good. As with migrating geese, it is less important who is flying first. What is important is where we are going and going first is something we all need to take in turn.

Although we are somewhat obsessed with titles, power, status and salaries, leadership is something we do – not who we are. The activity of leadership is not the prerogative of a small, exclusive group of ordained individuals. It is a shared responsibility none of us can abdicate from. Unfortunately, we are living in a country where class still defines us. Who our parents are, the post code we live at, and where we receive our education all matters, when it shouldn’t. As a result, many of our formal leaders are made from the same mould with the same notion of privilege. As a result, many who could provide leadership are never given the opportunity. Such a status quo is holding us back. Simples.

I am pro-leadership with a view full of hope. Just imagine what we can achieve as a city and society by releasing the leadership ability and energy in us all. Imagine the potential! Once upon a time not too long-ago, women were perceived as less able than men, and ethnic minorities less able than white people. These things have thankfully changed, and not a minute too soon. However, what hasn’t changed yet, is an equally outdated view that leadership can only be provided by a small group of all too often, white, middle-aged, privileged men. Because surely, no one else can provide leadership…

Thinking of joining us? Find out more about our courses in clearing

Why not take a look at the Senior Leader Master’s Degree Apprenticeship Level 7 that we offer!

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Accounting and Finance achieve 98 per cent satisfaction in National Student Survey

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Written by Karl McCormack, Course Leader in Accounting and Finance

We are proud to announce that the Staffordshire Business School’s suite of Accounting and Finance courses are in the top 5% of institutions for overall student satisfaction according to the recent National Student Survey results.

The suite of courses achieved 98% satisfaction in the overall quality of the courses, ranking 6th out of 107 institutions teaching Accounting and Finance. The two-year accelerated award achieved 100% overall satisfaction rating for the second year running.

The breakdown of key results for the suit of courses is as follows (all rankings are out of 107 institutions teaching Accounting and Finance):

  • Staff are good at explaining things – 98%
  • Staff have made the subject interesting – 90%
  • The course is intellectually stimulating – 98% (3rd)
  • I have received sufficient advice and guidance in relation to my course – 93% (3rd)
  • I have been able to contact staff when I needed to – 93%
  • I have been able to access course specific resources when I need to – 98%
  • The course is well organised and is running smoothly – 93% (9th)

Karl McCormack, Course Leader for the Accounting and Finance degrees, said:

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

Dean of the Staffordshire Business School, June Dennis, added:

“These results are testament to the great work that our Accountancy and Finance team does in producing a fantastic student experience. To be in the top 10 in the UK is a real achievement.”

More information on our Accounting and Finance courses.

Thinking of joining us? Find out more about our courses in clearing

Great places to eat in Stoke on Trent and Newcastle under Lyme

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Staffordshire University have a lot of international students and staff from all sorts of cultures. Here are some of the more varied places to try in the Potteries.

Hawasana is based in Shelton and on Stoke Road (the next road over from the College Road campus), they will provide you with authentic Afghan cuisine including huge naans  and cheap food – on facebook  

Miso is a Japanese restaurant on the London Road in Stoke Town Centre. Also in Stoke town further along the London Road is Carmen’s Caribbean Cuisine which is a takeaway.

Hong’s Kitchen -in Newcastle specialises in Hunan pot dishes – plus a lot of stuff you don’t usually see on Chinese menus in the Potteries.

food

A selection of food from Hongs Kicthen

For authentic Polish food try Agie and Katie in Burslem (Agie is a Business School alumni).

Newcastle has two good Thai restaurants – The Blue Chilli (alumni of the Business School) and The Art of Siam  . Also in Newcastle is Patty and Shake which is very popular with a young clientele  and excellent value.

Popular for burgers and curly fries

The best Italian in the area also happens to be in Newcastle Amore  also on facebook. It is very popular during the day for coffee and cakes and a different night time menu.

A delicious plate of pasta from Amore

A delicious plate of pasta from Amore

Try the great pizzas from a clay oven at Klay Pizzeria in Hanley  

  also in Hanley is the Slamwich Club .

Finally, if you fancy something traditional try the excellent pies at Pieminster at Trentham Gardens

If you want to find out more on food in the area the following accounts are excellent

Eat Stoke on Instagram   

Staffs food and drink on Instagram

Moorlands Eater website see especially the reviews, facebook, twitter

If you have any recommendations please add them in the comments section.

Interested in tourism and events? Find out about our courses in clearing  

Or call us on 0800 590 830

Five things you didn’t know about Staffordshire Business School!

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Written by Rachel Gowers, Associate Dean Recruitment

1.    We are one of the leading Business Schools in the world for Social Media. We’ve won the Edurank ‘Best Twitter Performance’ award twice in the Business School category (beating Harvard into second place) and we’ve also come in the top 20 Business School blogs in the Top 20 Business Education Blogs And Websites To Follow in 2018

2.    Our Marketing Management course includes exemptions from The Chartered Institute of Marketing and also Google Garage Exams, covering SEO, PPC and loads of other practical skills so you can start to build your own digital marketing campaign straight away.

3.    The Events Management Degree is a top ten course* according to The Complete University Guide League Tables 2019. We’ve also added some new modules this year like ‘experiential marketing’ and ‘managing the visitor experience’ which mean you get out and about straight away and start working with companies to design their systems.  You’ll also get to go on an overseas residential in your second year – last year we went to Iceland.


4.    Business degrees are the same wherever you go – right? Wrong! Our Business Degree covers topics you won’t find anywhere else, we worked with employers to come up with them.  You’ll study Business Agility, Big Data, Authentic leadership and Customer Experience Strategy (CX) – don’t know what these are? Google them – these are vital topics for 21st Century leaders.

5.    Accounting and Finance degrees at Staffordshire Business School offer more than just a degree.  You will also gain exemptions from three professional bodies meaning you can fast-track to professional qualifications when you’ve finished you’re degree. Plus we were ranked 1st for ‘Students Satisfied with Teaching’ in the Guardian League Tables 2018.

As if five wasn’t enough, did you know we are the first Business School in the UK to launch an Esports degree…don’t know what this is? Find out here.

*ranked 7th in the ‘Hospitality, Leisure, Recreation & Tourism’ category

Thinking of joining us? Find out more about our courses in clearing

 

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Exciting news for Esports students at Staffordshire University

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Written by Stuart Kosters, Lecturer in Esports at Staffordshire Business School

Staffordshire Business School launches the brand new Esports Hub – a customised esports lab for showcase and learning.

Esports Hub Room

We strive for excellence and have spoken to many esports industries to deliver the very best training; in delivery and presentation.

Computer equipment is top of the range industry standard, featuring tournament level hardware and software, allowing for ease of use and the best in quality assurance.

  • Razer Naga Chroma Professional Grade Ergonomic MMO Gaming Mouse
  • Razer Kraken 7.1 Chroma V2 – Gaming USB Headset and 7.1 Surround Sound with 50 mm Drivers, Retractable Digital Microphone
  • Razer BlackWidow Chroma V2, Linear and Silent Mechanical Gaming Keyboard
  • Razer Goliathus Chroma RGB Gaming Mouse Mat

Stylish graphics surrounding the room showcasing your home of Esports Hub, stems from extensive research and design prototypes, to be unique and current in the world of competitive gaming and learning. This esports lab strives to be one of a kind.

State of the art broadcasting area for your training experience and exhibition pleasure featuring an incredible range of the best equipment from sound editing, to vision mixing and full 360% camera rotations to capture every moment and showcase the very best in esports event exhibitions:

  • 360 degrees camera
  • vision mixing unit
  • soundboard
  • and full streaming training unit

Custom made interview area with a backdrop and modern esports furniture for viewing pleasure allows for extensive use of training in casting and interview skills, building soft skill management and providing the best experiences to share with online and local viewership.

Want to find out more? Visit us on one of our Open Days to have a look around and speak to our expert staff!

Details of our Esports Hub Launch Event on 18 August 2018!

Thinking of joining us? Find out more about our courses in clearing

 

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