SBANC
Small Business Advancement National Center University of Central Arkansas — Conway Arkansas
115H, College of Business - University of Central Arkansas - 201 Donaghey Ave. Conway, AR Issue: 800 - December 21st, 2014
Upcoming Conferences ABR
Who: Academy of Business Re- When: March 26-28, 2014 search Where: New Orleans, LA What: New Orleans Conference
Who: Allied Academies
When: March 26-28, 2014
AA
What: Spring Int’l Conference
Where: Nashville, TN
sponsibility Conference
CSR
Who: Society for Education & Research Development What: Corporate Social Re-
Where: Jakarta, Indonesia
Who: International Council for Small Business
When: June 11-14, 2014
ICSB
When: June 02-05, 2014
Where: Dublin, Ireland
What: ICSB World Conference
ICSM
Who: International Conference on Services Management
When: December 10-12, 2014 Where: Macau S.A.R., China
What: Int’l Conference
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Announcements SBANC
ISBE
AA
ICSB
USASBE
The Small Business Advancement National Center is pleased to tell you that we have revamped our website and newsletter recently. ISBE will be hosting this one day event at Ulster Business School, Belfast Campus during March 13, 2014.
Allied Academies will be hosting their Spring 2014 Conference in Nashville, TN during March 26-28, 2014.
ICSB will be hosting their annual conference in Dublin, Ireland during June 11-14, 2014.
USASBE will be hosting their annual conference in Fort Worth, TX during January 9-12, 2014.
Call for Papers IABE
IGDO
HICB
IETC
Who: International Academy of Business and Economics
When: March 16-18, 2014
What: 2014 Winter Conference
Deadline: February 10, 2014
Who: Institute for Gender and Diversity in Organizations
When: May 22-24, 2014
What: IGDO 2014 Conference
Deadline: February 6, 2014
Where: Orlando, FL
Where: Vienna, Austria
Who: Hawaii International Con- When: May 22-25, 2014 ference on Business Where: Honolulu, Hawaii th What: 14 Annual Conference Deadline: April 11, 2014 Who: International Educational Technology Conference
When: September 3-5, 2014
What: IETC 2014 Conference
Deadline: July 20, 2014
Where: Chicago, USA
Today’s consumers are informed, individualistic, and demanding. Their buying habits are often difficult to isolate, because they tend to buy at several levels of the mar-
Tip
of the Week
ket. For example, highfashion, high-income consumers may patronize upscale boutiques but buy their house hold applianc-
“49% of Americans would not have enough cash to cover three months of their living expenses and 28% of Americans do not have any money saved.”
es at Wal-Mart. They may shop at Williams-Sonoma for specialty Sprinkles cake mixes but buy their flour in bulk at Costco. For the consumer, three key factors have splintered the mass market:
ose households are shrinking.
As the middle class shrinks
In 2012, about 22% of all chil-
we are seeing two distinct
dren in the United States lived
marketing strategies develop-
below the federal income
ing to reach customers at
guidelines for poverty, which
both ends of the population,
is approximately $22,300 for a
think Tiffany’s and Dollar
family of four. Incomes for
General.
most have stagnated at 1997 levels (See Figure on Next
A Shrinking Middle Class
Page). According to the Feder-
Ethnic Groups Shifting
al Reserve, the average Ameri-
and Growing Throughout
can has total household debt
the United States
The middle class lost 40%
equal to 109% of his or her an-
of their financial net worth
nual after tax income. 49% of
during the past five years.
Americans would not have
According to census data,
Incomes have stagnated
enough cash to cover three
50% of the country’s over 36
and most of the growth
months of their living expens-
million Hispanics reside in
shown over the past years
es and 28% of Americans do
California and Texas. Hawaii,
has been attributed to two
not have any money saved.
New York, and California are
income households, and
However the top 0.1% of
the home of half of the over
Americans’ wealth has grown
12 million Asians in the Unit-
tremendously.
ed States. Over 70% of Blacks
“
as we have said before th-
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(Continued from Previous Page)
Live in the South and the Northeast. The greater Los Angeles area already the most ethnically diverse population in the world, has television stations available in Korean, Spanish, Chinese, Farsi, and Vietnamese. In one Orange County, California school district, the students speak more than 50
and Denver, 40% of the popu-
of men and 10% of women.
languages. Previously eth-
lation lives alone; that figure
The cost of housing and the
nic groups have been geo-
climbs to 48% in Washington,
recession have seen more
graphically concentrated.
D.C.
and more boomer angers
However, ethnic diversity
41% of all children born today
seeking the security of their
is expanding throughout
are born to unwed mothers,
family homes.
the United States.
and for those having children
Multigenerational families are
under 30 that rate increases
growing with 4.4 million
to 53 percent. Only one-third
households today comprising
of these families include the
three or more generations.
are Changing and
support of a live-in partner.
Some homebuilders are now
Evolving
Unmarried couples without
building homes specifically
children make up 6% of U.S.
for this target market as the
households and financial
multigenerational household
planners and lawyers are
spreads from lower to upper
reaching out to them to serve
class families. The growth of
their specific needs.
this market is both made out
Living Arrangements
Only 51% of adults are married today and 28% of all households have just one person. The percentage of people living by
Another huge change is the
themselves has doubled
number of young people be-
since 1960. In some of the
tween the ages of 25 and 34
larger cities like Atlanta
living with their parents: 19%
“
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of choice and out of necessity as younger people cannot find jobs and older people need assistance.
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Business can be a source of Progressive change. - Jerry Greenfield
Feature Paper
�
How Incorporating a Sustainable Business Model Creates Value This paper was written by Sharon Seay from the University of West Georgia. The paper was presented at the 2013 Allied Academics International Conference.
Abstract Sustainable business and sustainability reporting allow companies to capture the influence they have on their stakeholders and on their physical, social, and economic environments---and vice versa. Strong investors understand that the fate of the companies they own is tied to the nature of the relationships these companies have with other stakeholders. As the business case for sustainability practices becomes increasingly clear, reporting offers real value to those whose business is to assess the current financial health of companies and anticipate future performance. Much of the sustainability reporting data captured in nonfinancial terms or as qualitative policy descriptions can be readily translated into financial terms. Clearly, sustainability initiatives will have little or no credibility with shareholders, the Board of Directors, or members of the senior management team whose bonuses are dependent on performance if the link between sustainable business and performance is not demonstrated. Therefore, it is imperative for the firm to develop a framework for assessing how sustainability initiatives directly or indirectly impact performance. This study provides input toward such a framework and demonstrates how the integration of sustainability into business processes and products creates value for all of a company’s stakeholders.
SBANC Staff Director Dr. Don B. Bradley III
Development Intern James Vire
Development Intern Joshua Tucker
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: UCA Box 5018
(Page 15)
201 Donaghey Avenue Conway, AR 72035-0001
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