Community Weekly Report 28

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Volume 3, Edition 28

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Inspire, Inform & Educate

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July 14 - July 20, 2022

Page 2

Tips for Small Businesses To Not Only Survive, But Thrive

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Page 3 Jesse H. Jones School of Business Earns Reaffirmation of Accreditation

Page 3

New Research Sheds Light on How People Are Taking Civic Action

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2 | July 14 - July 20, 2022

Community Weekly Report BUSINESS

Tips for Small Businesses To Not Only Survive, But Thrive By d-mars.com News Provider

S

mall businesses are the heartbeat of communities. They pump life into neighborhoods, making them vibrant places to live, work and raise families, and are key to millions of local jobs. In fact, approximately 50% of all Americans are employed by a small business and 99% of American businesses are small businesses, according to the U.S. Small Business Administration.

“Small business is big business,” said Wells Fargo’s head of Small Business Derek Ellington. “As a bank that proudly serves over 3 million small business customers, we are still supporting small businesses in their post-pandemic recovery, but we’re also seeing many growing businesses bringing new ideas to life, and going from surviving to thriving. Now more than ever, it’s an important time for small businesses because they are such a vital part of the economy.”

To further power economic growth, strengthen your business, and deliver on the products and services the nation depends on every day, Wells Fargo offers the following four tips to move from surviving to thriving: 1. BE FLEXIBLE. If there was one glaring lesson business owners learned from COVID-19, it was to be flexible. Businesses had to revamp their online offerings and create a digital, ecommerce presence. Most had to change relationships with supply chains and vendors or reduce hiring. When it comes to business planning for the next six, 12, or even 18 months, one

thing is certain: flexibility will be key. Between staffing demands, supply chain delays, and rising interest rates and inflation, write your plans in pencil. Most importantly, be nimble enough to pivot, using your experiences over the past two years as a guide.

2. STAY IN THE KNOW. Stay informed of the latest developments that could impact your business.

For example, what do rising rates and growing costs of supplies and services mean for you? A small business banker can help you understand your options based on your particular business and needs, and make any necessary adjustments. Keep in touch with your tax advisor, accountant, and local chambers of commerce to stay in the know.

3. PREPARE FOR NEW COMPETITION. Now that life has regained a sense of normalcy, new business trends are emerging fast. To prepare for new competition, stay ahead of your competitors and drive new growth:

solve their pain points • Ensure you have competitive pricing • Change your business model and services to stay ahead • Provide exceptional customer service to existing and new customers • Target new markets

4. INVEST IN GROWTH STRATEGICALLY. To continue to grow, innovate and attract the best employees, demonstrate that you’re willing to invest in the future. However, it’s never cheap, and you might not be able to afford needed investments with your current revenue. Before borrowing money or taking out a loan, consider opportunities like changing your payments or receivable collection process, or reducing expenses.

Then look into the right lending opportunities when you are ready to accomplish big milestones like expanding, relocating, or adding new technologies with more capabilities. Strategic growth is all about investing in the right areas of your business at the right time to create an infrastructure in which you can flourish.

For more small business tips and resources, visit wellsfargo.com/biz.

Whether you’re a seasoned business owner or a new entrepreneur, consider using these tips to succeed and thrive in an ever-changing environment.

• Know your customers, and find and

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Source: StatePoint

July 14 - July 20, 2022 | 3

Community Weekly Report COMMUNITY

New Research Sheds Light on How People Are Taking Civic Action By d-mars.com News Provider

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ew research is offering insights into how the world can recover and rebuild from the pandemic, along with how individuals and organizations can address issues they care about in their communities.

“Civic Life Today: The State of Global Civic Engagement,” which was commissioned by Points of Light and designed and executed by INFLUENCE|SG, studied attitudes around civic engagement in the United States, the United Kingdom, India, and Brazil.

“We believe that the most powerful force is the individual who has realized their power to make change happen. However, everyone can be more impactful when working together,” says Natalye Paquin, president and CEO of Points of Light, the world’s largest nonprofit dedicated to accelerating people-powered change. “This report is intended to reveal ways to act effectively -- making it easier for individuals to find these opportunities and organizations to create them.”

The report also supports Points of Light’s Civic Circle, a framework that helps people understand that there are many ways to do good. The nine activities outlined by the Civic Circle are: listening and learning, using one’s voice, social entrepreneurship, volunteering, public, national or military service, using one’s purchasing power to express values, working, voting, and donating. Whether you’re a business leader hoping to mobilize your employees, a nonprofit or NGO leader looking to connect individuals to your cause, or an individual wanting to support your community, the Civic Circle and these key report takeaways can help you get started:

• Pandemic effects are universal: The same social issues and personal costs have been shared by

people everywhere. At the country level, healthcare, education, and the environment/ climate demand attention. On a personal level, the health of others in the community is where the most impact has been felt, followed by individuals’ financial and mental health.

• Issues leading civic engagement: Education, the environment, and healthcare were the top issues respondents wanted their countries to support, with healthcare ranked the leading issue in the United States.

• How people prefer to take action: The most common Civic Circle actions taken by respondents were using one’s voice (influencing one’s network through social media, advocacy, or other forms of expression), listening, and learning (learning about a cause or social issue), and volunteering (intentionally helping someone else). However, perceived barriers to civic engagement linger -- two of the top three reasons people cited for a lack of social issue involvement were

financial in nature, reflecting the perception that being civically involved means donating money.

• Virtual volunteering is here to stay: Volunteerism has not only remained important, but it’s also on the rise, with 54% of global respondents saying, “I plan to volunteer more than I did before the pandemic.”

Of those, the vast majority intend to do so primarily via virtual opportunities.

• Calls for corporate involvement: Individuals see companies as having an obligation to get involved.

Indeed, a majority of respondents said they expect companies to address social challenges. At the same time, respondents are measuring a given company’s sincerity by the way it treats its employees.

To watch a webinar recently hosted by Points of light with INFLUENCE|SG to discuss the research findings in more detail and to download the report, visit pointsoflight.org/civic-engagement-research.

“At a time when the whole world is facing a common challenge, we’re excited to see people take action. According to this report, 80% of Americans took at least one civic action in a 30-day period, up from 52% in May 2020.

That statistic itself is amazing,” says Paquin. “If we hope to move forward together, it’s this positive energy that we must capture.”

Source: StatePoint

EDUCATION & CAREER

Jesse H. Jones School of Business Earns Reaffirmation of Accreditation By d-mars.com News Provider

T

he Jesse H. Jones School of Business at Texas Southern University has received renewed accreditation from the Association to Advance Collegiate Schools of Business (AACSB International). The organization’s peer-review team delivered a rigorous evaluation that included checking strategic management and innovation and the academic engagement of students and faculty. The AACSB

accreditation for TSU’s business degree programs is for five years.

“Texas Southern recognizes the tireless commitment of the faculty, staff, students, and alumni who create an atmosphere that continues to enhance the scholarship and research within the Jesse H. Jones School of Business,” said TSU President Dr. Lesia L. Crumpton-Young.

“This reaffirmation of the school’s accreditation is further evidence of the innovative and transformative work that prepares students for the successful careers of today after matriculating and graduating from our esteemed University.”

TSU made history in 1968 as the first Historically Black College/University (HBCU) to achieve AACSB accreditation status. The University offers degrees in business administration, accounting, finance, management, marketing, and management information systems.

In its letter informing the school of the accreditation decision, AACSB highlighted several commendations and best practices that demonstrate leadership and high-quality continuous improvement in management education, calling the depth and breadth of commitment

commitment to continuous improvement, as our students deserve nothing less.”

of the Business Advisory Council highly enviable. AACSB also noted the creation of the Future Bankers Leadership Program as exemplary.

“Our goal in the Jesse H. Jones School of Business is to provide high-quality instruction in high-demand concentrations that is matched with highquality experiential learning and networking opportunities that prepare our students to be successful after graduation,” said Dean David Yen. “We are pleased at this reaffirmation.

We also remain resolute in our

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Accreditation means the school will continue to be associated with the highest standards in business education, a status earned by less than five percent of the world’s business schools. The school’s graduates have moved on to leadership roles in major corporations throughout the world, including a range of business, non-profit, and governmental organizations.

“Texas Southern is proud of its School of Business and the hard work the faculty, staff, students, and alumni have done that resulted in this accreditation renewal,” said Dr. Lillian B. Poats, acting provost and vice president for Academic Affairs. “This ensures the school’s ability to educate more bright young minds who will serve and lead in the Houston region, the state of Texas, and across the nation.”

The next on-site continuous improvement review from AACSB occurs in 2026-2027.

Source: Texas Southern University

4 | July 14 - July 20, 2022

Community Weekly Report

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