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The world is watching and teams from all corners of the globe have descended on France for the 2019 Women’s World Cup. FIFA is making money hand over fist – but when it comes to funding and prizes between men and women – FIFA is coming up seriously short. In fact, men receive almost 10 times more money in prizes than women. Here’s a snapshot of the overall purse: $US400 million - what FIFA paid in prize money for the 2018 men's World Cup. $US30 million - what it's proposing to give teams at the 2019 Women's World Cup. It’s a stark difference – but why? Is this a matter of what the market can bare? Why do the women make only a fraction of their male counterparts? Is FIFA obligated to help develop women’s soccer? Or, does this system need to change and how does that happen? That’s where our experts can help. Professor Andrew Wonders joined the faculty of the School of Business Administration in 2013 following a 13-year career in the sport industry. His past experience includes working for Olympic organizing committees in Sydney and Salt Lake City and for the host broadcaster for the 2002 World Cup. Andrew is available to speak to this issue with media, simply click on his icon to arrange an interview today.
Do small businesses need to worry about the Canada Training Benefit?
The recent federal budget was supposed to be good news. The Canada Training Benefit would give workers money to help pay for training, provide income support during training, and offer job protection so that workers can take the time they need to keep their skills relevant and in-demand. Seems simple, but when you look deeper at the details – there may be some serious risks to small businesses in Canada. "Canada's skilled labour shortage is getting worse, and small firms are the hardest hit," CFIB president Dan Kelly. "Providing a training benefit to workers is a positive step, but the needs of employers need to be factored into the equation." Employers would be required to provide leave and job-protection to employees regardless of the type of training an employee wishes to pursue, such as Latin classes or interpretive dance. The program, well-intentioned, will have an impact on small businesses in Ontario and across Canada with a lot of scenarios and aspects to consider! We have an expert who can help. Corey Houle, Principal at Freelandt Caldwell Reilly LLP, is an expert in the areas of small business strategy. Contact Corey to arrange an appointment regarding this topic by clicking the contact button below. Sources:
New book reveals how to successfully navigate the uncertainties that sink most startups
INDIANAPOLIS – Research shows that the majority of startups fail. Even more never get off the ground. So how do you avoid the pitfalls that come with navigating the uncertainties of a startup? A new book entitled The Titanic Effect: Successfully Navigating the Uncertainties that Sink Most Startups, guides early-stage startups and their supporters through the challenges they will encounter as they begin building their venture. Startups are inherently uncertain. Decisions have to be made with incomplete information. These decisions result in unanticipated consequences –- problems that lurk beneath the surface. The book draws on lessons learned from the Titanic, which sunk in 1912 not only because it hit an iceberg, but because of a number of decisions that interacted to create one of the largest maritime disasters. A series of trade-offs and choices in the design, building and operating of the Titanic magnified the catastrophic consequences. Co-authors M. Kim Saxton, clinical professor of marketing at the IU Kelley School of Business, Todd Saxton, associate professor of entrepreneurship and strategy at the IU Kelley School of Business, along with serial entrepreneur Michael Cloran, who has founded multiple startups, leverage decades of startup experience to reveal the often-overlooked human, marketing and technical “hidden debts” that sink startups, while drawing parallels to little known parts of the original Titanic story. “The idea for this book came from a conversation about ‘technical debt,’ often used in a software development context, in which shortcuts taken early in a startup’s life limit potential later,” said Todd Saxton. “But this challenge isn’t unique to product development; it applies to other domains as well. That led us to broaden the idea to a more holistic one—That we call in our book ‘hidden debt,’ or debts that are beneath the surface but can limit growth or sink even the most promising startup.” “Most books about entrepreneurship and startups are ‘how-to’s,’ detailing all the things you have to do to succeed when creating your own venture. Our book tells you what not to do, and it shows you how to identify the potential issues that could keep you from being successful,” said Michael Cloran. The Titanic Effect explains that taking on these hidden debts is inevitable, but startups must be careful to recognize that debt and take steps to mitigate the risks. “Over our more than 20 years of working with student, alumni and venture community startups—and helping launch and investing in them as well--we have seen the same patterns of mistakes repeated over and over again,” explained Kim Saxton. “We made a list of the most common startup mistakes, and that’s the main focus of this book. Our goal is to bring these so-called ‘icebergs’—or ‘debt-bergs,’ as we call them—out of hiding. Debt is not necessarily bad as long as you recognize, measure and manage it.” “Entrepreneurs make a lot of decisions under uncertainty, and often, they don’t fully understand the consequences of those decisions,” Saxton added. “Each decision has the potential to either enable – or hamper – future potential. At best, the wrong decision could limit how the startup can grow. At worst, it could cause ventures to sink.” The Titanic Effect is available as an e-book and will be available June 2019 in print. For more information, head to the book’s website here.
Covering World No Tobacco Day – Let our experts help!
May 31 is the WHO’s World No Tobacco Day. And despite all the awareness campaigns, education and advice – people are still lighting up. In fact, according to the CDC: More than 16 million Americans are living with a disease caused by smoking. Cigarette smoking is responsible for more than 480,000 deaths per year in the United States, including more than 41,000 deaths resulting from second-hand smoke exposure. This is about one in five deaths annually, or 1,300 deaths every day. On average, smokers die 10 years earlier than non-smokers. If smoking continues at the current rate among U.S. youth, 5.6 million of today’s Americans younger than 18 years of age are expected to die prematurely from a smoking-related illness. This represents about one in every 13 Americans aged 17 years or younger who are alive today. With marketing toward youth increasing and e-cigarettes and vaping now a part of the mainstream – is the fight against big tobacco becoming even harder? There’s a lot there to cover and that’s where our experts can help. Dr. Martha Tingen is a behavioral nurse scientist targeting prevention of tobacco use in children. She is available to speak with media any time – simply click on her icon to arrange an interview.
What will the “new” NAFTA mean for business in Canada?
The "new" NAFTA - officially renamed as the Canada-United States-Mexico Agreement (CUSMA) in Canada, but is referred to as the United States-Mexico-Canada Agreement (USMCA) in the media - could be a benefit for businesses. While tariffs are being lifted and reduced trade talks thaw – it appears that the USMCA is a win/win/win for businesses on every side of the border. The new trade accord has free-trade when it comes to manufacturing, importing, exporting and resourcing. The USMCA sounds great, but will those rays reach areas like Northeastern Ontario? Will our resource and mining industries benefit? Also, what about our emerging technology sector? There is a lot to be figured out as this new trade deal goes through the approval process in Canada and America. Luckily, we have experts who can help! Marc Boivin, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of organizational finance, assets acquisition, business valuation and transactions. Contact Marc to arrange an appointment regarding this topic by clicking the contact button below. Sources:
Hurricane Season Starts June 01 – Are We Ready?
It’s that time of year again … where the warm winds of summer bring us tropical storms and hurricanes. Forecasters looking at the 2019 Atlantic Hurricane Season are predicting a slower year. It looks like El Niño is currying favor and its cooling temperatures mean less frequency of storms. So far, experts expect 12 to 14 tropical cyclones this season. Of those, five to seven could become hurricanes and two to four are predicted to become major hurricanes. But as we’ve learned from the past, it takes only one storm to devastate an area. In a previous post, Michael Prietula was featured and lent his expertise to show how communities and governments need to be prepared. Michael J. Prietula (PhD, MPH) is Professor in the Goizueta Business School and a senior faculty member in Emory's Center for Neuropolicy. He is an expert in the areas of organizations is crisis and is an expert in preparedness. He is available to speak with media, simply click on his icon to arrange an interview.
Belief in the ‘Prosperity Gospel’ Does Not Turn People into Successful Entrepreneurs
But the belief that God financially rewards the faithful can fuel values linked to entrepreneurial thinking, Baylor University study finds Belief in the “Prosperity Gospel” — that God financially blesses faithful followers — does not turn individuals into successful entrepreneurs. But prosperity beliefs can fuel values linked to entrepreneurial thinking, such as power and achievement, according to a Baylor University study. However, researchers found no direct relationship between prosperity beliefs and willingness to take risks, and little connection to recognizing opportunities. Risk-taking and identifying opportunities are typical traits of entrepreneurs, according to the national study. “As revealed in our findings, a belief that God will provide financial benefit to the faithful is not enough to push someone to launch a business,” said lead author Kevin D. Dougherty, Ph.D., associate professor of sociology in Baylor’s College of Arts & Sciences. “The relationship between prosperity beliefs and starting a business is indirect and inconsistent.” The study — Prosperity Beliefs and Value Orientations: Fueling or Suppressing Entrepreneurial Activity” — is published in the Journal for the Scientific Study of Religion. For the study, researchers analyzed data from a nationally representative survey of 1,066 working adults. Their goal was to connect prosperity beliefs, human values, entrepreneurial attitudes and entrepreneurial action. They found that values — both by themselves and in conjunction with religious beliefs — are important predictors of how and whether individuals might launch a business. Participants responded to a three-item scale to measure beliefs that faith and faithful behavior lead to success at work and in business. The items included: “God promises that those who live out their faith will receive financial success;” “Believers who succeed in business are evidence of God’s promised blessing;” and “I believe faithful believers in God receive real financial benefits in this life.” Participants also responded to questions relating to The Theory of Basic Human Values, which recognizes such universal values as openness to change, achievement, security, power and benevolence. In general, “entrepreneurs tend to think differently than non-entrepreneurs, prizing achievement and self-direction while downplaying tradition and conformity,” said co-author Mitchell J. Neubert, Ph.D., professor of management in Baylor’s Hankamer School of Business. Value orientations of self-enhancement and openness to change are associated with recognizing opportunities and taking risks — entrepreneurial behaviors that correlate with creating new businesses. While prosperity beliefs by themselves show little direct impact on entrepreneurship, they do influence the impact of values and attitudes related to creating a business. Prosperity beliefs can strengthen the relationship between self-enhancement values and opportunity recognition, but they seem to reduce the relationship between openness to change and willingness to take risks. Another significant finding pertains to gender. Men and women who accept prosperity beliefs are no different in their willingness to take risks or start businesses, said co-author Jerry Z. Park, Ph.D., associate professor of sociology in Baylor’s College of Arts & Sciences. In general, risk-taking and business startups are more common among men. The study also shows that education and experience are key predictors of entrepreneurship, but those resources may be difficult to acquire for some prosperity believers because of social and economic circumstances. While individuals in that group have hope, it seems contingent on divine action rather than human action, Neubert said. “Can prosperity preachers Joel Osteen and T.D. Jakes save the U.S. economy? Probably not. But nor are they damning it,” Dougherty said. “The type of positive, self-help gospel they preach can enhance specific value orientations that are related to entrepreneurial thinking and entrepreneurial behavior.” *The research was supported by a National Science Foundation grant. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 17,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT THE COLLEGE OF ARTS & SCIENCES AT BAYLOR UNIVERSITY The College of Arts & Sciences is Baylor University’s oldest and largest academic division, consisting of 25 academic departments and seven academic centers and institutes. The more than 5,000 courses taught in the College span topics from art and theatre to religion, philosophy, sociology and the natural sciences. Faculty conduct research around the world, and research on the undergraduate and graduate level is prevalent throughout all disciplines. Visit www.baylor.edu/artsandsciences.
Expert perspective on a trade war with China and how it could impact a Trump presidency
Trade negotiations between the United States and China have continued to deteriorate over the last few weeks. In efforts to pressure the Chinese to make reforms to trade-related issues such as forced technology transfer and intellectual property rights, the United States has raised tariffs on nearly all Chinese exports. While there is a consensus among experts that these trade issues harm U.S. producers and must be dealt with, there is not universal agreement that a trade war is the best way to make it happen. Who will feel the effects? It is apparent that both consumers and producers in the U.S. will feel the effects of the trade war. Producers will not be able to absorb the increased costs from the raising tariffs and will need to pass them along to consumers. Consumers will begin to see the prices increase on a host of retail goods, such as clothing and apparel, toys, and home goods. Partners replaced? In addition, as the Chinese retaliate with increased tariffs on U.S. exports, such as agricultural goods, producers from other countries with lower tariffs are stepping in to take the place of the U.S. exporters. For example, Brazilian soybean producers are more than happy to sell their product to China at a lower cost. Once lost, it may be difficult for U.S. farmers to regain these important Chinese markets. A political price to pay? It appears that the effects of the trade war may hit the Trump administrations base, in agricultural and manufacturing regions, disproportionately. However, the administration may see the trade war as beneficial to Trump’s 2020 reelection campaign, as Trump is being perceived as being tough with the Chinese and holding them accountable to unfair trade practices. That appears to resonate with his base. However, it remains to be seen how long his base will continue to support this approach as both producers and consumers continue to feel the economic pinch of the growing trade war with China. There’s a lot to know about the short and long-term impacts of a trade war with China and that’s where or experts can help. Matt has taught business and marketing courses at Saint Mary’s University of Minnesota since 2008. Prior to Saint Mary’s, he worked in both the banking and the non-profit sectors, most recently with a non-governmental organization (NGO) with operations in more than a dozen countries. Matt is an expert in political and economic development and is available to speak with media. Simply click on his icon to arrange an interview.
Getting the facts on carbon tax for small to medium-sized businesses.
The carbon tax has become an election issue, a matter before the courts and the subject of coast to coast political talk. Each province and federal party are seemingly taking a side and spreading their own messaging on what the carbon tax means for small to medium-sized businesses. Heading into summer and this year's top issue is the carbon tax. Some owners claim that the rebates are not enough to cover the combined shipping, storage, services or other escalating costs. On the other hand, some are stating that's not the case, in fact, the new incentives are helping them increase business and create jobs. Do you know all the facts about the carbon tax? We have an expert that can help answer how much is it, who is paying and how is it impacting your business in Northern Ontario and across the province? John Greenidge, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of Indirect Tax, Federal Sales Tax (GST/HST), Provincial Sales Tax (PST/RST), Taxation and Accounting services. To contact John, simply click contact John below to arrange an appointment regarding this topic. Source:
Trump, tariffs and the long game
He said he’d get tough on China and make sure America was getting the better end of any trade deal – and President Trump seems bound and determined, despite the critics and advice from his own cabinet, that massive tariffs and a trade war with China is a good thing for America. Last week Trump more than doubled tariffs on $200 billion in Chinese goods. China reacted with tariffs on American agricultural and other products. The response, Trump is now looking at approximately $300 billion in import levies on more Chinese goods. As far as trade wars go, this one could be epic in its scale and economic proportions. But who will blink first, who will win and ultimately – who is paying the costs and taking on the burden of all the financial collateral damage at the end of the day? Is this a matter of short-term pain for long-term gain for America’s economy? Or is this political posturing that will at the end of the day hurt the country’s bottom line? There are a lot of questions to be asked and that’s where two of the experts from Cedarville can help. Dr. Glen Deurr's research interests include nationalism and secessionism, comparative politics, and international relations theory. Jeff Haymond, Ph.D. is Dean, School of Business Administration at Cedarville ad is an expert in finance and trade. Glen and 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.
