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“Design thinking is a human-centered approach to innovation that draws from the designer's toolkit to integrate the needs of people, the possibilities of technology, and the requirements for business success.” - Tim Brown, CEO of IDEO I would add the following to Mr. Brown’s statement. This innovation approach requires more than a designer’s toolkit. It requires multiple departments within an organization to engage in the approach. If I’ve learned one thing in my more than 5 years in higher education it’s that companies continue to push for employees to become better problem solvers, more creative/critical thinkers, and ultimately stronger communicators. Why? Company growth is critical, and the aforementioned skills are how many companies will achieve growth. At Otterbein, we continue to provide education that addresses the development of these skills. We are designing a new focus in the MBA Program; Design Thinking. Otterbein University’s MBA Program is collaborating with the Master of Design (MDes) Program at the Columbus College of Art & Design (CCAD), to integrate a Design Thinking Area of Focus within the MBA program. Design Thinking combines design research, service design, studio & project course for prototyping/impression/artifact work, along with design thinking principles critical in succeeding in business and industry. It is designed for individuals who wish to pursue a career in business design, organizational change, and innovation, among other potential career paths. Are you a reporter covering stories that involve Design Thinking? Are you a student considering pursuing Design Thinking as a postsecondary option? If so, let our experts help with any of your questions. Eric is Director of the MBA Program at Otterbein University and is available to speak to the concepts of Design Thinking. Simply click on his icon to arrange an interview.
Billion reasons why Netflix loves binge-watching
The numbers are out, and the there’s no doubt about it, Netflix despite weaker Q2 figures released this week, streaming is now an industry mainstay. Netflix has transformed the industry and now viewers are no longer willing to wait for that one time a week a show usually airs. In fact, streaming options are now a must have for networks hoping to compete with Netflix and other services. And with Disney and Apple are now spending billions to catch up – audiences are in store for a lot more content. But, as bingeing television becomes the norm, there are also concerns? On the human side, what dangers are posed to people consuming enormous amounts of screen time. And on the industry side – how can show business keep up? And should it? Are you a reporter covering streaming services, binge-watching and the other habits of audiences? Then let our experts help. David A. Schweidel is Professor of Marketing at Emory University’s Goizueta Business School. He is an expert in the areas of customer relationship management and social media analytics as well, his research also includes binge watching. David is available to speak with media – simply click on his icon to arrange an interview.
Full speed ahead or time to pump the breaks when it comes to investing in ride-share companies?
There’s been a lot of talk and even some screaming from early investors about the state of ride-share stocks like Uber and Lyft. Since its IPO, Uber has been a rollercoaster ride for those who got in early. “When Uber stock (UBER) went public on May 10, it looked like a disaster. At minimum, underwriters look for a stock to close slightly above its offering price. Uber’s shares dropped 7.6% to $41.60 in the first day of trading and closed well below the offering price of $45. But a funny thing has happened since. After closing down as much as 18% from its IPO price, Uber stock has rallied 21% to close at $44.92 per share on Thursday. The stock eclipsed the IPO price during intraday trading for the first time on Wednesday and closed at exactly $45 that day.” June 07 – Barron’s But let’s be honest, unless you’ve got a crystal ball or a time machine – any stock is a gamble. How the market reacts, how the company performs and even how CEOs behave can dictate big gains or drastic falls. Steve Jones is a Professor of Finance at Indiana University's Kelley School of Business – he lent his perspective to the topic. “As far as which stocks to buy, there are never right or wrong answers – It’s just a question of a person being able to assess risk or potential returns. The IPO prices indicate the market has discounted Uber and Lyft stocks and sees them as riskier than originally perceived to be. Now, they do offer potential for a good return… For example, Facebook stocks dropped then rebounded… Google dropped then rebounded. Lots of stocks that have not done well at first have come back. Will that be these two? "I think there’s potential for it. On the other hand, we have this situation where analysts are critical of the business models of both these companies. It’s not clear Uber drivers are going to sign up to do this in the long run at these kind of wages, and if they can’t underpay drivers, how do they make money? There is a criticism going on of the business model here, and if this model can become profitable, I think the stocks will take off. It’s questionable though, whether that’s possible or not. That’s what the market is going back and forth on right now.” Are you covering the track Uber investors are on, other IPO’s or companies that are disrupting not just the marketplace but also the stock market? Then let our experts help with your stories. Steve L. Jones is an expert in the areas of asset valuation, corporate finance, financial markets, and investment management. He’s available to speak with media regarding these topics – simply click on his icon to arrange an interview.
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.
