American Business Culture Rooted in Adaptation and Performance

Americans are pragmatic if anything. As a people who continuously expanded West to conquer new lands their culture is ultimately rooted in their history and outlook on life. The ruggedness of the frontier made Americans adaptable through their constant overcoming of challenges and interactions with the Native Americans who used their own style in warfare which was subsequently adapted and gained independence from Britain.

Western business culture can be egalitarian when information is spread throughout the organization and lower level managers are empowered to make decisions. These decisions are expected to be based in supported arguments and bring forward practical problems and issues.

Organizations that widely disseminate information and are willing to draw skilled workers and lower level management the decision making typically are more adaptive. Problems are solved quicker and there are more minds to help changes both small and large processes. Organizations work as a team where everyone "buys" into the company's success.

A sense of fair play and pay based on actual performance is what set Americans apart. Some cultures are more oriented toward family, social networks and friends. While this creates a stable society it can often damage the competitiveness of their company as less skilled individuals are hired for important positions.

As Americans we should cherish these cultural traits that have helped us move toward the top. There is a growing trend where nepotism at the upper ranks is damaging corporate competitiveness. While hiring someone you know to be a high performer is an appropriate business practice, one must always consider all of the qualified candidates and base their decision on solid business practices.

Detecting and Measuring Economic Clusters on a Regional Level

Detecting and measuring economic clusters on a national scale is possible with a little statistical analysis. Researchers in Germany were able to evaluate macro-data and determine which industries and geographic locations experienced vertical and horizontal linkages (Titze, Brachert & Kubis, 2011).  Understanding where these clusters are formed can impact public policy in ways that improve production and export. 

The researchers used input-out analysis and then further pinpointed locations of industries with concentration measures. The end result was that they were able to determine concentrations of linkages in specific regions within German. 

Governments can use information like this to determine where clusters are forming and what industries are thriving. Based on economic need, they can further promote policies for the national good will. 

To understand specifically how these firms are connected and how they interact means we would have to move from a macro analysis to something more intimate. This intimacy could be in the form of specific transactions and inter-company exchanges that highlight how they are acting. 

Governments should consider supporting and enhancing research in economic clusters because of their large potential on the economy. Recent decades have sparked more interest but not enough to truly push for active engagement on a national level. The development of economic policy could be based on data, such as found in this study, and followed up with supportive detail grabbing research. 

Titze, M., Brachert, M. & Kubis, A. (2011). The identification of regional industrial clusters using qualitative input–output analysis (QIOA). Regional Studies 45 (1). 

Long-Term Corporate Decisions Add Value

A study in the Harvard Business Review indicates that long-term decision making leads to greater corporate performance. The study reviewed the performance of 615 nonfinancial U.S. companies between 2001 to 2014 and found that long-term behaviors increased firm value while short-term decision came up "short".

The difference between short and long-term choices influence outcomes such as average revenue 47%, average market capitalization 58%, average company economic profit 81%, average job creation 132% and average company earnings 36%.

The study also found that if that if companies took a long term approach over $1 trillion in asset value could be realized leading to a total market cap of about 4%. A total of 5 million additional jobs could have been created.

While the study doesn't address this issue there are reasons why strategic decision makers often focus on short-term results. They must prove themselves, show profit, and please their shareholders. They need quick results to justify their positions. With an average job span as a CEO of a few years time keeps getting in the way.

Barton, D., Manyika, J. & Willamson, S. (May-June, 2017). The data: where long-termism pays off. Harvard Business Review, 95 (3), pg. 67.

The Future of Economics - a multidisciplinary approach

The Future of Economics - a multidisciplinary approach
16th to 17th October 2017
Washington DC, United States of America


We gladly invite you to attend the International Conference The Future of Economics - a multidisciplinary approach which will be held at Johns Hopkins University, just 20 miles away from Washington DC.

The Research Association for Interdisciplinary Studies (RAIS) creates an ample research platform for academics and researchers from all around the world and offers them the opportunity to create lasting relations for future collaborations. RAIS encourages academics and researchers to share their experiences and to contribute to the developing of diverse subjects, offering them the perspective of an interdisciplinary approach.

Topics include, but are not limited to:
Economics, General Management, Studies on Poverty, Business Ethics, Strategic Management, Family Business, Labor Market, International Business, Marketing, Economic Development, Production and Consumption, Sustainability Business, Corporate Finance, Business Law, Entrepreneurship, Business Performance Management, Urban Studies, Statistics, Cybernetics, Communication Management, Accounting, Global Business, and so on.

Deadlines:

Abstract submission: August 21, 2017
Acceptance Notification: 1 week after abstract submission
Full papers submission: September 15, 2017

You can now attend our conference for the price of $179, or check our website for our call for papers offer. (Please see our website for details:
http://rais.education/2058-2/)

Inquiries: rais.e@email.com
Web address:
http://rais.education/the-future-of-economics-a-multidisciplinary-approach/ 

Rosarito Beach Mexico-Fun and Frenzy

We find our selves surrounded by the cool ocean, sparkling hotels, and a smorgasbord of bars and restaurants. Welcome to Rosarito Mexico just 18 miles or so from the border. A place where youthful Americans and Mexicans go to "sow their wild oats".

Originally a ranching community it took off in the 1950's when Hollywood entered the area. People flocked to the little city in an effort to get away and enjoy the beach culture just across the border.

Wild and crazy it is definately for those under the age of 30. Places like Pappa & Beer are a popular destination with their American style dance music, sand dance floor and multiple floors.

Towns like this exist because of tourism. It appeals to Americans, Mexicans and European visitors. Money and investment that caters to visitors keeps the place growing and changing around the beach.

You will find that Rosarito Beach is very well kept while the greater the distance from the tourist location the more the properties are run down.

It isn't the cheapest place either! $3.50 for Mexican beer or $10 a shot. Yet when you compare that to many American resorts its a steal. Cheaper places are found just off the beach.

Transportation isn't bad. Costing somewhere around $30 from the Otay Border for a car full of people (4) or $20 with Uber. Coming back is a better deal at $10 for an Uber.

Its a place you might want to visit at least once. A few hundred dollars for a weekend should suffice. Plan on eating tacos and other domestic cuisine.

Creating an Online Conversation with Students

Discussion questions can be a little redundant and leave students bored. Students get used to the same way of communicating with their professors over and over. They go through the motions and don't put much thought into them, seeking to maximize points but not truly engaging in the conversation. Not enjoying also means less interest and less recall. Professors can create momentum to engage in a deeper conversation by focusing more on what is being said and providing insightful responses.

We can be smart, witty, and totally dumbfound our students with big words. But is it a conversation?Connecting with students in a way that engages them in a conversation that leads to greater insight means we actually "talk" to them even when the forums are online. We discuss issues on a "real" level and seek their input so we can expand their knowledge.

It takes a different kind of response then simply posting a certain amount of times, focusing specifically on content, and referring to items from a text. To engage means listening to what students  actually find interesting and engaging them on their level. One must develop a sense of where conversations are leading and be willing to post "tid bits" of information where the student left off.

Sometimes it could mean finding something going on that appeals to the students at their age level and then letting them apply ideas to musicians, games, sports, or pop culture. For example, marketing is as important for gamers as much as it is for cars. The theories will most likely apply similarly to a multitude of items available on the market.

Students live in a dynamic world where information isn't stagnant like we find in many classrooms. they want to see how that information works for them. Finding purpose for information often leads to greater interest and engagement by the student. Solving problems and enhancing decision making is the main purpose of higher education. Converse with your student and they will learn that the information is worth talking about.

Lessons from Sailing: Practices Makes Perfect

After a month off from sailing I find myself back on the Minx crew grinding away in the Beer Can Races #2. This time was a little different as my skill level improved after seven or eight competitive races. It takes a little time under the "hot seat" to make things work. Control of the jib, and spinnaker seemed to become more natural with repeated experience.

In the past it would take two people to act as grinders to manage the jib and ensure a tight exchange and reset upon tacking. This time the skill became more natural and the second person was barely used at all. As a matter of point, the second person sometimes became a hindrance when trying to navigate between taking up the slack by hand and using the wench to finish it off.

The advantages were that less skirting of the jib was needed because of the increased speed. What I learned from this situation is that practices does improve overall knowledge of how these two sails work and that finding the right spot with telltales was much more natural; taking only a few seconds to set properly.

Part of this was due to the heavier racing schedule and then a latent period of break when I wasn't in town. When I came back things just seemed to make more sense and I gauged the wind, course and conditions better.  There was a more intuitive sense on what to do much like learning to ride a bike.

What can we learn from this?

1. Practice makes perfect.
2. Practice followed by a latent period allows for deeper learning.
3. Learning under pressure speeds up the process.
4. Persistence in your goals is necessary.