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Social issues and boosting a brand – More companies taking a stand

Procter & Gamble this weekend put out a full-page ad in the New York Times supporting equal pay – In fact, the company urged the US Soccer Federation to “be on the right side of history.” P & G also gave $529,000 (which equates to $23,000 for each of the 23 players on the United States Women’s National Soccer Team) to the Players Association to help close the gender pay gap. Indiana University Kelley School of Business clinical professor of marketing Kim Saxton says this is an excellent move for Secret and P & G.  “This is brilliant. The Secret brand is all about being strong but 'made for a woman.' It makes sense for the brand to stand up for the very women it serves,” said Saxton. “I was a bit surprised at one level, because P & G is not typically a risk-taking brand. But as long as they stay consistent to the brand, know their target audience and what is important to that audience – which this clearly does -- It’s a brilliant move.” “We now have brands who are willing to take a stand on social issues,” Saxton continued. “In the past, brands may have steered clear of jumping into the conversation if it could offend someone. Now, brands are realizing that coming down on one side of a cause or another has worked well for Nike. Nike has taken flack for taking a stand on a number of issues, but they’ve stood strong and decided that’s what their brand’s about. If you help your target audience accomplish their goals, they will support you back, and that’s what’s happening here." Pay equity is just one issue that has come to the forefront as of late. Nike has also seen its brand benefit substantially when it decided to express its support for former NFL quarterback- turned-activist Colin Kaepernick. In fact, being on the ‘right’ side of that issue has some analysts pointing out it boosted the company’s value by close to 3 billion dollars. Social issues and marketing are emerging as a new trend. There are rewards, but there are also serious consequences as well. If you are a reporter covering this topic -- let our experts help explain. Kim Saxton is a marketing strategy professor who believes marketers should make data-driven decisions to improve their effectiveness. Kim is available to speak with media regarding this topic – simply click in her icon to arrange an interview.

Modernizing rural health – what it could mean for America

For Americans living outside of cities and in rural and sometimes remote areas of the country, the concept of readily accessible health care just isn’t a reality. However, the idea of expanding broadband internet into rural communities to improve access is one that shares support from all sides of the political spectrum. Just last week, an expert from Augusta University was called up to speak before lawmakers in Congress on the need for this technology and who it could best serve. "Broadband is the gateway to rural schools, businesses and health care providers," said Rep. Angie Craig, a Democrat from Minnesota.  Lawmakers raised concerns about the dwindling number of hospitals in rural areas and the need to be competitive when recruiting corporations to do business. "Just the ability in rural America for a physician to pull up an X-ray at their home instead of having to drive to the hospital to look at a patient to know if that is something that’s an emergency," said Rep. Austin Scott, a Republican from Georgia. "One of the biggest needs is tele-psychiatry and tele-mental health," said Dr. David Hess of the Medical College of Georgia. - Spectrum News 1 - July 11 It’s an interesting topic and one that is gaining a lot of attention. How many rural Americans are without access to a doctor or hospital in the country? How much money could be saved by expanding online health care? Online is a viable solution, but are there drawbacks or concerns for patients? And how could expanding broadband and digital health care support issues like mental and maternal health across rural America? If you are a reporter covering this topic – that’s where our experts can help. Dr. David Hess is dean of the Medical College of Georgia and executive vice president for Medical Affairs and Integration at Augusta University. He also helped develop the REACH telestroke network in rural Georgia that now includes about 30 hospitals. Dr. Hess is available to speak with media regarding this topic – simply click on his icon to arrange an interview.

Social media and the road to 2020

It was supposed to be a summit to discuss social media with lawmakers, political campaigners and social media gurus. But never missing an opportunity to take a swipe at Silicon Valley, President Trump unleashed on the tech industry at the White House’s Social Media Summit.   “Trump delivered his diatribe against Facebook, Google and Twitter — charges of political bias that all three companies long have denied — at an event at the White House featuring Republican lawmakers, GOP campaign strategists and social media meme-makers, a move that led some critics to express dismay that the president aimed to use the policy summit as a reelection push.” - July 11, Washington Post But will social media play the role it did in previous elections?  Has the fad faded or accounts, influencers, followers and friends still as vital as ever? And what have we learned from the past election about account data being used to sway voters? There’s still a lot to know, and that’s where we can help. David A. Schweidel is Professor of Marketing at Emory University’s Goizueta Business School. He’s an expert in the areas of social media and is available to speak with media – simply click on his icon to arrange an interview.

Trained and happy - are you investing in your staff?

A new report released this June overwhelmingly shows that Canadian companies need to invest in their employees if they want to grow. The Navigator: Made for the Future Report surveyed 2,500 businesses in 14 countries and territories - 200 of them in Canada. The survey found that in Canada: Nearly half of those surveyed plan to boost spending on skills training for their staff in the next two years. 47% said their companies planned to spend more on training employees. 42% said they'd spend more on employee satisfaction and well-being. While 54% of the surveyed Canadian business leaders said their companies would make investments that fall under the category of research, innovation and technology, Dan Leslie, deputy head of commercial banking for HSBC Bank Canada, said the results show that technology is only half the story. "Tech adoption brings improvements but also creates the need for new skills," Dan said. "The priorities have shifted since some of our last surveys away from trade or capital investment and more toward investment around the well-being of their workforce." "Given labour market experts predict that many of the jobs people will hold in the future haven't even been invented yet, investing in adaptable employees is good business sense", Dan said. CBC June 26 How much should businesses be investing? What's the cost of programs and training? Is there a tax benefit or assistance small companies can access to assist with costs? Does location play a factor? There are many questions to be answered, and that's where our experts can help. Andrea Bruley, Senior Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of owner managed business, mentorship, accounting and not-for-profit accounting. You can contact Andrea regarding this topic by clicking the contact button below. Sources:

Experts in the media - Will Facebook, Google take over blockchain?

Banking and big tech are going ‘all-in’ on blockchain initiatives – and it is getting a lot of attention from investors, regulators and the industry. In an announcement this week, Facebook stated it was moving full speed ahead with its cryptocurrency ‘Libra”. With this announcement, Facebook isn’t just moving into the cryptocurrency space—it’s also setting itself up as a financial services company. Unlike many other cryptocurrencies, Libra will be specifically designed for use as a payment medium, rather than a speculative asset. Bitcoin, Ethereum, and other digital currencies are generally difficult to transfer back and forth for everyday payments, partly because the price of the tokens is based primarily on market demand. The value thus fluctuates dramatically. If it works, Libra should be much less volatile since it will be pegged to traditional financial assets, including a raft of government-issued currencies. Slate, June 18, 2019 Recently, Dr. Eric Overby, associate professor of information technology at Georgia Tech's Scheller College of Business was interviewed by Blockchain Tech News to get his perspective on what to expect now that Google and Facebook are adopting blockchain as part of their platforms. The interview is attached below. Eric Overby's research focuses on the transition from physical to electronic modes of interaction and its effect on market efficiency. Eric is available to speak to media regarding blockchain or any other technology related topics – simply click on his icon to arrange an interview.

What will a ban on single-use plastic mean for small businesses in Canada?

Being environmentally friendly has become a popular trend. Climate change is occurring, and news stories of wasteful plastics clogging our waterways are becoming more frequent, making the battle against plastic waste an election issue. Earlier this month, Prime Minister Trudeau announced a ban on single-use plastics by 2021 that will likely include straws, plastic cups, food wrapping and grocery bags. It's evident, being environmentally friendly is in everyone's best interest, but business owners are concerned about what costs will arise as a result. Companies use plastics cups, lids and straws for take-out, plastic wrap as a significant part in food safety and freshness, and plastic bags for clients to transport purchases home. Even though these plastics are environmentally harming, some still see them as essential. There are more than 1.1 million small businesses in Canada, and most of them will have to adapt or adjust to: How will this impact their bottom-line? How slim are the margins already for most small retailers? Are incentives for businesses required before implementing this new policy? These are some of the critical questions to ask. If your small business will be affected, contact one of our experts to help. James Brutto, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of accounting, auditing, finance and entrepreneurship. Contact James to arrange an appointment regarding this topic by clicking the contact button below. Sources:

Up, Down or Steady – What do Interest Rates Really Mean for Our Economy?

The heat was on Federal Reserve Chairman Jerome Powell this week to lower interest rates coming out of the June meetings of the Fed. He was under scrutiny from President Trump and others who share a growing worry that America’s economy could be slowing down and potentially turning toward recession.  An option that is neither appetizing for investors, the business community or politicians looking for positive messaging as an election looms in 2020. Powell held the rates steady but there is massive speculation this will be for the last time and that rates will begin to be cut as of the next meeting of the Federal Reserve. There are a lot of questions about interest rates and the economy: How do rates encourage or dissuade investment and business? How much of a rate cut will it take to impact the economy? Do interest rates and the dollar go up and down in tandem? And how independent is the Fed and who influences these decisions? If you are covering, we can help. Jeff Haymond, Ph.D. is Dean, School of Business Administration at Cedarville and is an expert in finance and trade. Bert Wheeler, Ph.D. specializes in macroeconomics, international trade, economic development, and econometrics. Jeff and Bert are both available to speak to media regarding the current trade war with China – simply click on either expert’s icon to arrange an interview.

Why it just makes ‘cents’ to know your financial ABCs early in life – let our expert explain.

Managing money, understanding interest and how to avoid debt – all these elements make up some of the very basics of financial literacy.  However, despite a humming economy and record low unemployment, more and more Americans are falling deeper into debt. Just recently, CBS News reported that roughly 4 in 10 Americans can’t cover an unexpected bill of 400 dollars. Something desperately needs to be done about not just how we are handling our money – but when we are taught the how banking, money and personal finances work. It’s a topic of concern and one that is gaining traction. Showbiz moguls Will Smith and Nas invested in a financial literacy app for teens (see attached article). The issue is finally on the radar of leaders in Washington and throughout the country as well, with 19 states now requiring financial education to graduate, according to the Council for Economic Education, up from 13 in 2011. Can these efforts make a real impact and reverse the tide of financial illiteracy? How did America get to this point? Is this about our spending habits and access to credit or a lack of education? And if we don’t correct the curse – what could it mean for our economy? There are a lot of questions and that’s where our experts can help! Professor Jonathan Clarke is an award-winning teacher and researcher in the fields of investment banking, finance and analysis. Clarke created a personal finance course that is offered to all Georgia Tech students that provides the importance of budgeting, basics of credit, as well as more advanced financial topics such as investing and trading. He’s an expert in the field and is available to speak with media about economics and the importance of financial literacy – simply click on his icon to arrange an interview. He has also developed a one-week summer course for high school students – Wall Street on West Peachtree and annually assists the Boy Scouts with obtaining their finance badge.

College readiness: Why it’s time to turn the page on one-off developmental courses

With summer officially here, millions of recent high school graduates and adult learners alike are preparing for college this fall. Unfortunately, a large percentage of them need developmental courses in order to advance, and many of those students will drop out within their first year—victims of a college preparedness approach that is generally not working. While it is true that education provides one of the surest pathways to a better life, millions of individuals do not have the academic background, confidence, mindset, and study habits to succeed in postsecondary programs and achieve their career dreams. Underprepared students face serious hurdles when attempting to enroll in college, and often struggle with one or more of the following: Poor self-image, lack of confidence (and overconfidence), and undeveloped study skills Weak math skills and math phobia Poor writing/language skills Lack of preparation for rigorous reading of texts, analytical thinking, and problem-solving Despite the poor track record, an estimated $7 billion is spent annually on traditional remedial education by students and institutions. According to research, 68 percent of community college students and 40 percent of public four-year college students take at least one developmental course, and among them less than 10 percent of two-year students graduate within three years, and only 35 percent of four-year students graduate within six years. Solutions exist, according Pat Partridge, president of WGU Academy—an independent nonprofit entity established by Western Governors University (WGU) to help solve the growing college-readiness gap. He suggests that for college readiness to be effective, programs must incorporate noncognitive personal competencies. “The Academy’s approach is based on the premise that to make college-readiness effective we must address the whole person rather than just getting them through one-off math or English courses to satisfy admissions requirements. Our two-pronged approach to preparing students—focused on academic coursework and noncognitive personal skills—is challenging traditional thinking paradigms that are not working well. The program is designed to be transformative for students who need confidence and persistence, social and emotional learning skills, and customized support to position them for long-term academic and career success.” Studies show that students and families pay an extra $3,000 on skills and content they should have learned in high school—a hefty price for courses that typically offer no transferable credits. Partridge suggests that programs like Academy—which uses an online, competency-based learning model similar to WGU’s—can change that by offering a scalable, replicable solution. WGU Academy students pay $150 per month, and most enrollees should finish the program in three to four months, or even less—making it a low-cost, low-risk solution. And the courses are ACE (American Council on Education) recommended, which hundreds of colleges and universities recognize. “The challenge is far larger than WGU alone can tackle, which is why Academy is designed to help serve hundreds of thousands of individuals who are not likely to attend WGU” Partridge noted. “We look forward to working with other entities that share the same mission to help individuals succeed in college and their careers—both recent high school grads and adults—by boosting completion rates.” WGU Academy’s first partnership is with tnAchieves in support of Tennessee’s flagship scholarship program that allows any resident without a postsecondary certification to attend community college tuition-free. WGU Academy, which launched May 1, 2019, already has more than 600 enrolled students. To speak with Partridge, contact WGU Academy’s PR Business Partner, Matt Griffin, at matt.griffin@wgu.edu or (615) 472-6056.

Banning single use plastics – grasping at political straws or a realistic first step toward a healthier planet?

There’s no question about it – our planet has a problem with plastic. Though simple, cheap, convenient and often necessary, the reality is single use and non-reusable plastics like straws, plastic bags, wrapping and most containers are causing problems. There’s no hiding or ignoring the evidence – plastic is everywhere from landfills, to our rivers and streams and even occupying its own land mass in the ocean.   Recently Canada proposed a ban on single use plastics to come in to effect in 2021. The country joined the likes of France, Germany, Italy, the U.K. and the European Union who are all implementing similar policies. The United States, however – has not. Here are some facts from the Center for Biological Diversity. Americans use 100 billion plastic bags a year, which require 12 million barrels of oil to manufacture. The average American family takes home almost 1,500 plastic shopping bags a year. According to Waste Management, only 1 percent of plastic bags are returned for recycling. That means that the average family only recycles 15 bags a year; the rest ends up in landfills as litter. Up to 80 percent of ocean plastic pollution enters the ocean from land. 100,000 marine animals are killed by plastic bags annually. One in three leatherback sea turtles have been found with plastic in their stomachs. Plastic bags are used for an average of 12 minutes. It takes 500 (or more) years for a plastic bag to degrade in a landfill. Unfortunately, the bags don't break down completely but instead photo-degrade, becoming microplastics that absorb toxins and continue to pollute the environment There is no doubt plastic is a serious problem in America – but will the country join in? What will it take from an industry point of view? Will costs outweigh the benefit? Is this a matter of regulation and do Americans have the appetite to make this a political issue? There are a lot of questions and that’s where our experts can help. Dr. Beril Toktay is Professor of Operations Management, Brady Family Chairholder and ADVANCE Professor at Georgia Tech’s Scheller College of Business. She’s the founding Faculty Director of the Ray C. Anderson Center for Sustainable Business. She’s an expert in the areas of sustainable operations and supply chain management, with a special focus on the circular economy.  Beril is available to speak about this issue with media – simply click on her icon to arrange an interview.