Small Business Saturday (SBS) is an annual event celebrated the Saturday after Black Friday and sponsored by American Express. The goal of this event is to bring traffic into small businesses, in the local area, to increase their revenue. According to Forbes (2015), “the total spending among U.S consumer who were aware of Small Business Saturday reached $16.2 billion, an increase of 14 percent from $14.3 billion in 2014.” This is the shopping season of the year, and this statistic proves that SBS is gaining awareness and consumer dollars into local businesses in the U.S. Every year, the Districts of the City of Orlando participate in the Small Business Saturday. This year, our client Mills 50 is looking for new and fresh ideas to reach a larger …show more content…
Many businesses are choosing not to be included in the community events and are not taking advantage of the free promotions made possible by the district community. Mills 50 has over 80 business that are part of the District and they all have the final verdict on whether or not their business will be included in any upcoming events. In 2013, only 13 businesses volunteer to engage in Small Business Saturday (Mills 50). Additionally, one of the requirements for the Small Business Saturday is that the businesses must accept American Express as a payment method. Mills 50’s challenge is to encourage the local business owners, to not only accept American Express but to also be part of the Small Business …show more content…
Customers can get real-time special offers and discounts based on their location. This is an app that was created for the ten Central Florida Districts, including Mills 50. The problem is that the business owners are not technology-savvy and they do not have the understanding of how the app works, and the benefits that come with it. Only 18 of the 80+ businesses are currently utilizing the app and taking advantage of the profit that mobile marketing can bring to their businesses. According to Piejko (2016), “82% of smartphone users say they consult their phone during shopping in a physical location.” Therefore, using the Distrx app will allow consumers to not only received special offers but also bring an increase in profit to these small businesses. On the other hand, consumers may not be aware of the app because businesses are not promoting its use.
Finally, Joanne Grant, the executive director of Mills 50, is the only one that manages the social media accounts of Mills 50. She is also the one that organizes the events and maintains the relationship with the businesses. As you can see, she has an extreme amount of work and it is too much for one person to complete. Indeed, it would be beneficial for her to have the help of
Bass Pro shop started as an 8-foot-long display area in the back of a liquor store in 1971 and has expanded into a Fortune 500 company that employs over 8,800 employees and has annual sales estimating somewhere around $1.25 billion today. The question at hand is: should Bass Pro Shops continue to expand, and if so at what rate should they? The primary problems they might face when expanding are as follows. Could expansion hurt their brand image and if so how? The Competition outside of Missouri is going to be much greater. They will not have the publicity and brand recognition as they do in Missouri. Does Bass Pro have the financial resources in order to open new stores, if not then what are some options they can exercise? Will Negative publicity threaten their brand image as they continue to grow? Is the cost of overhead going to be too high initially for Bass Pro to expand at a fast rate, if so then at what rate should they expand yearly? These are all problems Bass Pro is going to have to face in the future. Through research and extensive problem solving, they will be able to make an accurate decision on rather they should expand.
Over the past 20 years, the nature of the American retailing market has changed dramatically, going from Mom and Pop's boutiques to mega retail stores like Wal-Mart. Especially in the last decade, Sam Walton's discount stores have proliferated in almost every city across the United States and Canada. But the opinions about the effects of Wal-Mart in small towns divide the rural population in two groups. Through economic, cultural and social arguments, the anti-Wal-Mart activists and the advocates defend their point of view about the expansion of the store in small communities.
Businesses have to examine every part of their environment to possibly predict future outcomes and problems that the business may incur over time. There are two different types of environments to be considered, external and internal. Each of these types has several sub categories to be considered. With a business like Play It Again Sports (PIAS), they have to examine the changing environment, general environment, specific environment, and also making sense of the changing environments. PIAS will also have to examine the internal environment which is the organizational cultures. The internal environments are not as extensive as the external environments.
According to the U.S. Census Bureau, nearly forty-seven percent of all businesses employ fewer than ten employees. Small business is a vitally imperative to our nation’s well-being. Small business is responsible for creating the majority of our new jobs, employing nearly half of the American’s private workforce, and providing half of our country’s private non-farm gross domestic product (SBA 2009). Regardless of your politics, since President Barack Obama took office in 2008, an immense degree of emphasis has been placed on small business. Some of the emphasis has been positive while other parts have been negative.
In the small communities of northwestern Wisconsin, we typically do not realize how local businesses affect our everyday lives and play an important role in our community. How often do we walk into a business and are greeted by name by one of the friendly employees? Although this does not seem unfamiliar to us, we take for granted this value that comes only from local businesses. The friendly service and close relationships is only one of the many benefits of buying services from a local provider.
With all the problems persisting with Sephora’s digital marketing strategy, it’s becoming a time-pressing issue for Sephora to do something substantial and to do that really quickly. Hence, I am proposing to have an app named ‘BEAUTYMe’, that is fully customized for the individual customers and act as a virtual store, on the contrary to the existing apps, those act like mere online catalogues. The step-by-step app experience can be explained as below with the example of the following flow diagram.
Small Business Administration. “ Women’s History Month Amelia Jenks Bloomer.” Online Women’s Business Center. 16 Apr. 2002. 3 May 2005 .
Mobile is the first order priority device for access because people are connecting with others, finding entertainment, and doing business—all with smart phones. The prices of mobile phones are never over $1,000 in today’s world. They are affordable and accessible. As the result of the changes the worldwide and national business environment has undergone, people own 1-2 cell phones on average. However, the mobile markets in US seems to have been saturated.
Katz, J. A., & Green, R. P. (2014). Entrepreneurial small business (4th ed.). New York, NY: McGraw-Hill/Irwin.
There are over 28 million small locally owned businesses in the United States and 70 % of these businesses are owned and operated by a single person. Owning a small business is not an easy task it takes hard work and dedication, Steve Jobs once said “you need a lot of passion for what you’re doing because it’s so hard”, people don’t realize
Although small businesses do not make a lot of major deals with large investors, most small businesses create profit revenue greater than large corporations. Small business creators are very brave considering only ten percent of small businesses survive. Unfortunately, some communities do not support local small businesses; they only support the large brand name and force small businesses to die out. Since small businesses will not have a name brand known around the world, many people from communities will not support them because they are not known on a national scale. “This, in turn will affect the local economy and drive capital out of their local economy. On average, for every one hundred dollars spent in an economy, if spent on a
In the 21st century, small and large, private and public businesses are all aiming towards economic growth. The small business marketplace is extremely dynamic and the changes are fast. Here are some facts from the US Small Business Administration on small businesses. There are about 30 million small businesses in the United States and employ just over half of the country’s private workforce. They employ a staggering 40% of high tech workers such as computer professionals, scientists and engineers. More than half of the small businesses are home-based businesses and two percent of them are franchises. One of the most important aspects is the fact that a majority of innovations in the United States come from small businesses. In 2008, there were 627,200 new businesses that started, 596,600 businesses that were closed and 43,546 companies that filed for bankruptcy. According to business experts, of all the small business startups, one-third of them are profitable and successful, a third of them just about break-even and the rest of them are down with negative earnings Some buyer’s develops as independent business owners, while others are more likely to prosper as franchise owners. According to a recent report by the Small Business Administration (2007), the United States had approximately 26.8 million small business firms in 2006. In fact, as recently reported by Moutray (2006), most firms in the U.S., are very small and account for about half of the country's non-farm real GDP. Over the past decade small business has generated 60–80% of new jobs annually. In reality, there are easy answers to the independent business versus franchise dilemma. Although, a franchise system offers benefits to owners such as brand recognition, to inc...
Growth in the small and medium business in Canada and other developed countries has been very significant. This sector of the business community now represents about 40 percent of GDP and accounts more than half of total employment. Today small businesses are more diverse and more vigorous than ever, but they also faces newer and more challenges or inhibitors to their growth than their older conter parts. This research will attempt to find the answer to the following hypothetical question:
Small businesses have been considered the mainstay in countries around the world. In many European countries for example, the small business has been considered crucial to the success and flourishment of the country in general. Most individuals start upon a small business venture in the hopes of realizing ownership, independent profits and personal success. Small businesses can prove extremely successful when planned properly. Studies suggest that several small businesses, however, close or fail within the first few years of operation. This failure suggests that a majority of small business owners may not have as yet realized the crucial success factors necessary for successful implementation of a small business.
As a manager in the organization that is being acquired, I would give some Price Waterhouse advice to help with the transitional period of the company by building a guiding team. I feel it's fundamental to creating a successful change in any organization. Furthermore, the cohesion of the employees will be more effective overall. During the last two months of the company prior to the change, I would create a team of creditable employees consisting of managers and workers. The goal of this change management team would be to convey a message that is clear to avoid any confusion among the ranks of the employees. Furthermore, the team would help answer questions and give advice for employee's; that will be leaving the company in the near future, as well as employees that might be changing positions, or employees that could be transferring to another division entirely. I feel by building a team to help manage the new changes the next three months following the acquisition will become a smother transition. During the next three months, I would have the team focus giving attention to the retained employees, by reassurance and guidance of the fact that letting go of the old company culture and thinking of the new culture and adapting to it should be done easily. This would ultimately give the employees more productive and efficient work in the future and long run, and will make the employees feel more comfortable about the transition.