SBANC
Newsletter
August
8, 2006
Issue 433-2006
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QUOTE
"Only
buy something that you'd be perfectly happy to hold if the
market shut down for 10 years."
-- Warren
Buffett
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FEATURE
PAPER
Sustainable Entrepreneurship:
Broadening the Definition of ‘Opportunity’
The
following paper was presented at the 2005 USASBE/SBI Joint Conference.
It was written by Norris F. Krueger, Jr., Ph.D. of Boise State University.
Abstract
The ‘New
Economy’ and its offspring, the ‘New Competitive Landscape’,
are oft-characterized
as producing ‘new forms’ and ‘new functions’, often from ‘new voices’. This paper
discusses
one set of under-appreciated ‘new voices’ producing ‘new winners’ that are arising
from
proactively seeking opportunities that are sustainable not just on the economic
dimension but
also on social and environmental dimensions. Over the last several years, a working
group of
scholars and practitioners has focused on a broader definition of 'opportunity',
broadening the
construct of 'opportunity' to include social and environmental dimensions. It
is a most opportune
time to recognize that, for entrepreneurial managers, 'opportunity' is much more
than economic.
Introduction
Opportunity-seeking is essential for organizations to survive in the new competitive landscape.
One aspect of increased competitive pressure arises from an expanded set of pressures which
push the organization to ‘add value’ to their environments, especially social and environmental.
However, we also observe that individuals and organizations are increasingly focused on the
‘pull’ of environmental and social opportunities (e.g., Hawken 1993; Porter & van der Linde,
1995). That is, there exist significant perceived opportunities that are both economically
sustainable and environmentally beneficial.
An important question is "Why do strategic decision makers of some firms fail to see what
appears objectively to be a lucrative new opportunity (from the environmental perspective of
stakeholders)?" In short, how do we encourage the identification of viable, environmental
opportunities? We must recognize that opportunity is in the eye of the beholder. That is, we
construct or enact opportunities; we do not 'find' them.
Read
the Entire Paper...
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CONFERENCES
COC
|
| Who: |
Conference
Organising Committee
|
| What: |
The
International Conference on the Arts in Society
|
| Where: |
The
University of Edinburg in Scotland |
| When: |
August
15-18, 2006 |
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AMA
|
| Who: |
Atlantic
Marketing Association
|
| What: |
Annual
Meeting
|
| Where: |
Francis
Marion Hotel in Charelston, South Carolina, USA |
| When: |
September
27-30, 2006 |
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|
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SBI
|
| Who: |
Small
Business Institute
|
| What: |
Mid
Year Meeting
|
| Where: |
Louisville,
Kentucky, USA |
| When: |
October
12-15, 2006 |
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FFI
|
| Who: |
Family
Firm Institute
|
| What: |
Annual
Conference -- FFI's 20th Anniversary
|
| Where: |
San
Francisco, California, USA |
| When: |
October
25 - 28, 2006 |
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ABEAI
|
| Who: |
Applied
Business and Entrepreneurship Association International
|
| What: |
Annual
Meeting
|
| Where: |
Marriott
Waikoloa Beach Resort, Kona, Hawaii, USA |
| When: |
November
16-20, 2006 |
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|
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CALLS FOR PAPERS
USASBE
|
| Who: |
United
States Association for Small Business and Entrepreneurship
|
| What: |
2007
USASBE Conference
|
| Where: |
Disney's
Coronado Springs Resort in Orlando, Florida |
| When: |
January
11-14, 2007 |
Submission
Deadline:
August 15, 2006
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|
|
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SHRM/WBMA
|
| Who: |
Society
for Human Resource Management/Western Business & Management
Association
|
| What: |
2006
Western Business & Management Conference
|
| Where: |
Las
Vegas, Nevada, USA |
| When: |
October
15-17, 2006 |
Submission
Deadline:
August 31, 2006
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|
|
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AA
|
| Who: |
Allied
Academies
|
| What: |
2006
Fall International Conference
|
| Where: |
Atlantis
Casino Resort & Spa, Reno, Nevada, USA |
| When: |
October
19-21, 2006 |
Submission
Deadline:
September 11, 2006
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|
|
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WDSI
|
| Who: |
Western
Decision Sciences Institute |
| What: |
36th
Annual Meeting
|
| Where: |
Denver,
Colorado, USA |
| When: |
April
3-7, 2007 |
Submission
Deadline:
October 1, 2006
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|
|
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RCC
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| Who: |
Rollins
China Center, Rollins College |
| What: |
The
Globalization of Chinese Enterprises: The Advent
of a New Age
|
| Where: |
Rollins
College in Winter Park, Florida, USA |
| When: |
November
30-December 1, 2006 |
Submission
Deadline:
October 15, 2006
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|
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TIP
OF THE WEEK
Where
Are Your Greatest Opportunities for Making More Money?
There are many ways
to make more money. They include:
• Get more customers into your door.
• Get current customers to spend more each time they buy.
• Get current customers
to buy more often so that they don't go elsewhere to buy products that they would
be just as likely to buy from you.
• Improve product lines.
• Add product lines.
• Negotiate lower prices from vendors but keep current prices to customers.
• Cut overhead.
• Motivate employees to sell more.
• Grow the market for the products you sell.
• Increase or change the number of channels by which you offer your products,
making it less expensive to distribute your products.
When thinking about your research questions, think about implementing
the results of the research. If you learned that you have
to add new products to grow your business, is this viable
for you? If you have to spend money to grow your market,
can you make an investment that would pay off? You should
continually be asking yourself, "Once I get the answers to
my research questions will it be realistic for me to implement
the research results?"
In going through this process, many times the typical answer I have received from clients is, "I don't know what I'd do until I see the results of the research." While this can be a fair answer, it also smacks of research that might be interesting, but results never acted upon.
Getting answers to interesting questions where taking action
is out of the question can be a monumental waste of time
and money. But answering questions where actions can be taken,
if indicated, are always worth the effort.
Take the research for the wallpaper company again. Say the
results suggest that the real reason people don't buy when
they get the catalog is because they are afraid to buy wallpaper
sight unseen using only a catalog or the internet as their
guide. What actions might the company take if this proves
to be a major stumbling block?
Maybe they should
open retail stores so that customer can see their products
before they buy - an unlikely solution. Maybe they should offer free
returns
if the customer doesn't like the wallpaper once they see
it - a reasonable but perhaps profit-sapping solution. Maybe the
company can't afford
to do anything that is cost effective that would address
this problem. But I would doubt that as well.
While there is no apparent solution to this dilemma, it highlights why many research studies are not action-oriented. If you were Kraft or General Foods, that might not be such a problem. The cost of such research is often an insignificant part of their profits.
But for a small company, the cost of research can divert funds that could be used for their important initiatives. Therefore, it is far more important that those new to research be able to conceptualize solutions or areas where action might be taken prior to engaging in research. Anticipating possible actions that you might take would make you far more likely to conduct research that could lead to a profitable outcome.
| Robert
J. Kaden.
Guerrilla Marketing Research.
Kogan Page Publishing. 2006 Pages
13-15 |
ANNOUNCEMENTS
ISOBD
The International Society
of Business Disciplines (ISOBD) is accepting unpublished manuscripts,
working papers and abstracts for their semi-annual
professional meeting in Las Vegas, Nevada from November 5-8, 2006. All
papers and abstracts are double-blind reviewed prior to acceptance.
The ISOBD awards of
Faculty Teaching Excellence, Outstanding Department Chair, and
College Dean Award seek to honor participants who have gone above
and beyond the typical expectations of such positions. The five finalist
nominees for each award will be recognized at the November, 2006 meeting of
ISOBD. The winners will receive a commemorative plaque and additional
recognition. Self-nominations are allowed and encouraged.
A manuscript submission is not necessary in order to
register for the conference and as a special protection for you, if your
manuscript/abstract is not accepted by ISOBD before August 31, 2006. In
addition to being a premier scholarship outlet, ISOBD also sponsors several
prestigious business teaching and administrative awards.
For more information
go to ISOBD
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The
SBANC Newsletter is provided as a service to the members of our
affiliates: Academy of Collegiate Marketing Educators (ACME), Association
for Small Business & Entrepreneurship (ASBE), Federation of
Business Disciplines (FBD), International Council for Small Business
(ICSB), Institute for Supply Management (ISM), The International
Small Business Congress (ISBC), Marketing Management Association
(MMA), Small Business Administration (SBA), Service Corps of Retired
Executives (SCORE), Small Business Institute (SBI), Society for
Marketing Advances (SMA), United States Association for Small Business & Entrepreneurship
(USASBE), U.S. Department of Veterans Affairs (VA).. If you are
interested in membership or would like further information on one
of our affiliates, please see our web site at http://www.sbaer.uca.edu
SBANC STAFF
Main Office Phone: (501) 450-5300
Dr.
Don B. Bradley III, Executive Director of SBANC & Professor
of Marketing;
Direct Phone: (501) 450-5345
Brandon
Tabor, Development Intern
Tyler
Farrar, Development Intern
Garion
McCoy, Development Intern
Casey Thomson, Development Intern
To subscribe or unsubscribe to the
SBANC Newsletter, please E-mail SBANC at sbanc@uca.edu
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