SBANC
Small Business Advancement National Center University of Central Arkansas — Conway Arkansas
Quote
115H, College of Business - University of Central Arkansas - 201 Donaghey Ave. Conway, AR Issue: 820 – June 3rd, 2014
Of The Week
“Your most unhappy customers are your greatest source of learning.”
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B i l l G at es
Upcoming Conferences Who: Allied Academies AA
IISES
What: Summer International In- Where: Online ternet Conference
Who: International Institute of Social and Economic Sciences th
What: 13
IEDC
When: July 21-25, 2014
When: September 15-18, 2014 Where: Antibes, France
Conference
Who: International Economic Development Council
When: October 19-22, 2014 Where: Fort Worth, TX
What: Fort Worth Conference
CRCHS
Who: Canadian Research Centre for Humanities & Science What: CICSSE Conference
When: August 22-24, 2014 Where: Toronto, Canada
Announcements SBANC
The Small Business Advancement National Center aims at increasing your knowledge of small business and entrepreneurship. All questions and comments are greatly appreciated.
USASBE
The Baylor University Entrepreneurship Program and USASBE are jointly sponsoring a student case writing competition in conjunction with USASBE’s annual meetings. Deadline for submission of cases is September 12, 2014
ISBE
The Haydn Green Institute at Nottingham University in partnership with the Institute of Small Business & Entrepreneurship (ISBE) is inviting people to attend a Paper Development workshop that will take place on September 18, 2014 at Nottingham University, Nottingham,
ICSB
IEDC
The International Council for Small Business will be hosting their ICSB 2014 World Conference in the wonderful city of Dublin, Ireland on June 11-14, 2014. The theme of the conference will address the current international movement towards sustainability. The International Economic Development Council will be offering a Neighborhood Development Strategies course that qualifies as a professional development elective needed to sit for the Certified Economic Developers Exam.
Call for Papers Who: Sakarya University IETC
WBI
LARP
What: International Educational Where: Chicago, IL Technology Conference Deadline: July 20, 2014 Who: World Business Institute
When: October 6-7, 2014
What: 10th Asian Business Research Conference
Where: Bangkok, Thailand
Who: London Academic Research and Publication
When: September 8-9, 2014
th
WBI
When: September 3-5, 2014
Deadline: September 5, 2014
Where: Barcelona, Spain
What: 28 Int’l Conference
Deadline: July 21, 2014
Who: World Business Institute
When: October 9 - 10, 2014
What: 3rd Global Business and Finance Research Conference
Where: Taipei, Taiwan Deadline: September 1, 2014
Tip
of the Week
“We are now at a stage of communication technology that demands the inclusion of a website in any combination of advertising media.” Frequency of Advertising Determining how often to advertise is an important and highly complex issue for a small business. Obviously, advertising should be done regularly, and attempts to stimulate interest in a firm’s products or services should be part of an ongoing promotional program. Continuity reinforces the presence of the company as the place for customers to buy when they are ready. One-shot advertisements that are not part of a well-planned promotional effort lose much of their effectiveness in a short period. Of course, some non-continuous advertising may be justified, such as advertising to prepare consumers for the acceptance of a new product. Such an approach may also be used for holidays and seasonal events. Many products and services have some seasonal demand — landscaping services in warm
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months, snow removal in cold ones, costumes at Halloween, flowers on Valentine’s Day. Deciding on the frequency of advertising involves a host of factors, both objective and subjective. This is another reason for entrepreneurs to seek professional Advice. Where to Advertise Not everyone is a serious prospect for your business. You have to identify the market segment most likely to buy the products and services you offer and to buy them from you rather than other sources. This means restricting your advertising perhaps by geography or customer type. From among the many media available, a small business owner must choose that will provide the greatest return for the advertising dollar. The most appropriate combination of advertising media depends on the type of business and its current circumstances. Furniture retailers and auto deal-
ers use television and newspaper ads. Television keeps their name and products in front of the consumers, making them easy to remember when customers are ready to shop and buy. And when someone is ready to purchase a car or some furniture, she or he is likely to look in newspapers to compare products and prices. Hotels and restaurants near busy highways rely on billboards to attract patrons to their locations. Retirement communities and assisted-living facilities may obtain mailing lists from senior citizen centers and use direct mail to reach their target market. We are now at a stage of communication technology that demands the inclusion of a website in any combination of advertising media. Websites are the first step in identifying prospective sources of products and services by many consumers and businesses.
Feature Paper
SBANC Staff
Back to the Future: Adaptation and Precognition in Venture Capital
Executive Director Dr. Don B. Bradley III
Development Intern
In this paper we examined two factors considered vital for success in the venture capital industry: adaptation to changing conditions; and an ability to predict future trends. We conducted semi-structured interviews with eleven venture firms, asking about how they planned to adapt their investment strategies, on the stage and industry of companies in which to invest, and the future of their industry. We compared their views with industry results published year later in the National Venture Capital Association (NVCA) Yearbook, and found that the VC industry is undergoing significant changes that have farreaching implications on the entrepreneurial landscape. (pg. 162)
Read Entire Paper Here
James Vire
Development Intern Daniel Champion
Comments? The Small Business Advancement National has recently made immense changes to the layout of its website, SBAER.UCA.EDU, as well as its Newsletter. We welcome constructive criticism, comments, and of course, all questions throughout this transition.
Contact Us Email: SBANC@UCA.EDU Phone: 1 (501) 450-5300 Mail:
Tip of the Week Source: Small Business Management
UCA Box 5018 201 Donaghey Avenue Conway, AR 72035-0001
17th Edition Longenecker, Petty, Palich & Hoy CENGAGE Learning Page 463 - 464
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