Without doubt, the multicultural market in the United States is an increasingly powerful consumer. Research by Geoscape, the leader in business intelligence across the multicultural market, shows Hispanics currently represent 18 percent of American households but were responsible for nearly half of the growth in consumer spending from 2013 to 2014. Between Asian-American and … [More]
Manufacturing and Logistics – Arizona vs. the Nation
Arizona has received a C grade for its manufacturing industry and D in logistics, says a new report from Ball State University. The “2015 Manufacturing and Logistics Report,” prepared by Ball State’s Center for Business and Economic Research (CBER) for Conexus Indiana, the state’s advanced manufacturing initiative, shows how each state ranks among its peers in several areas … [More]
Restaurant Growth: Credit to Check Increase and Traffic
For the fifth consecutive year, the restaurant industry has grown since the end of the Great Recession. Growth was measured by analyzing the average per check, traffic and net new restaurants on the market. Overall, there was a 3.3-percent rise in the industry for 2014, according to the GE Capital Franchise Finance 2015 Chain Restaurant Industry Review. The chief reason was the … [More]
Middle Market Firms Are Becoming Economy’s Workhorses
They may lack the romantic narrative of small businesses, which are seen as the fruits of the American Dream. And they may lack the instant name recognition that comes with being a huge corporation. But middle market firms, defined as businesses generating between $10 million and $1 billion in revenues, are economic engines to be reckoned with despite what they may lack in … [More]
Small Business Wins Big with Arizona Consumers
Arizonans have embraced the national trend of patronizing small businesses in overwhelming numbers. Eighty-eight percent of Arizona consumers support small businesses in their communities by buying small at least once a week, and 64 percent buy small two or more times a week, according to the 2015 Cox Consumer Pulse on Small Businesses. For the third year in a row, Cox … [More]
Knowing Our Market
From entrepreneurs to housewives, everybody benefits from having a bit more information about how their hometown stacks up. WallletHub has conducted two studies that compare our community to others nationally in the areas of diversity and culture — giving consumers and businesspeople a glimpse into how we perform on many key data points. Running a good business or starting … [More]
Employers, Employees and Workplace Violence
Workplace violence affects nearly 2 million American workers every year — more, actually, as that is just the number of incidents that are reported. According to Jessie Atencio, assistant director and consultation and training program manager for the Arizona Division of Occupational Safety and Health, violence can occur at any workplace, and he notes it is the responsibility of … [More]
Where are America’s Most Innovative Technology Hubs?
An important question to ask, of late, is, “Who is on top in innovation technology?” because the answer truly can make a difference in local markets that are all vying for the top position — or very close to the top. The good news is, many of the top communities are on top because they are making a concerted effort to compete. The bad news is some, like Phoenix — although they … [More]
Passion Fires Sustained Performance Improvement
Companies need passionate workers because these workers can drive extreme and sustained performance improvement. However, a mere 12 percent of the United States work force exhibits all of the attributes that define the “Passion of the Explorer,” according to a new report from Deloitte’s Center for the Edge entitled “Passion at work: Cultivating worker passion as a cornerstone … [More]
2015 Super Bowl in Arizona: What’s Different This Time?
Arizona will be in the global spotlight leading up to Super Bowl XLIX on Feb. 1, which many hope translates to a boost in our economy. A lot has changed since we hosted Super Bowl XLII seven years ago, when the economy was declining. “Downtown Phoenix doesn’t look anything like it did in 2008,” says Jay Parry, president and CEO of the Arizona Super Bowl Host Committee.“When … [More]
Small-Business Owners’ Optimism Highest Since 2007
Small-business owners’ optimism on business prospects and the economy continue to rise, according to the Fall 2014 American Express OPEN Small Business Monitor. Currently, 63 percent of business owners nationwide maintain a positive outlook, a level not reached since fall of 2007 (64 percent). Stronger revenue growth could be fueling this optimism, as more entrepreneurs say … [More]
Positive Impact: Women and Millennials in Leadership Positions
Some $50 billion a year is being spent on developing leaders worldwide, but it’s not viewed by company leaders as being effective, according to a report released in July by global talent management consultancy Development Dimensions International and The Conference Board. The 56-page report titled “Global Leadership Forecast (GLF) 2014|2015, Ready-Now Leaders: Meeting … [More]
Arizona Fall League: Developing Talent for the MLB
Major League Baseball’s best kept secret is right here in Metro Phoenix, and, for baseball fans, it provides a chance to see a “Who’s Who” of the best Minor League players in action. Now in its 23rd season, the Arizona Fall League is a pivotal cog in baseball’s player development process. All 30 MLB clubs must participate by sending seven of their top prospects to the league. … [More]
C-Level Partnerships Affect CMO Compensation
A new “CMO Compensation Report” from the Chief Marketing Officer Council reveals that chief marketing officers (CMOs) who report directly to CEOs are likely to earn more than their peers. And CMOs who forge close partnerships with chief financial officers and chief information officers are among the highest paid. This may support intuitive logic, but the CMO Council’s executive … [More]
Fraud Is Big in Online B2B Sales
Fraudulent Online Product Inquiries The impact of fraud is felt unevenly. As fraudsters succeed against businesses in an industry, they beget copycatters who continue to target that industry. Percentage of Inquiries that are Fraud Attempts Percent of Businesses Affected 75% … [More]
Employment Growth Opportunity in Clean Energy
Arizona made it to the short list of the top 10 states for clean energy jobs added in the first quarter of this year. Sharing this distinction with Idaho, Texas, California, Missouri, New York, Kansas, Hawaii, New Mexico and Louisiana — named in order of ranking — Arizona came in at No. 7 in the country. This was primarily due to two efforts: Davis-Monthan Air Force Base, in … [More]
Cost and Effect of Employees’ Bad Internet Behavior
Information technology managers report a high incidence of troublesome habits among office workers using company computers, according to a U.S. survey recently released by TeamViewer, a leading provider of remote control and online meetings software. The survey was aimed at determining how big an effect common “bad behaviors” have, both on the IT department and on the company’s … [More]
Businesses Are In Expansion Mode
Sixty-five percent of Arizona business owners and executives plan on investing in their business in 2014, with upgrading and/or purchasing new equipment, along with modernizing technology and systems, cited as their primary expenditures, according to an anonymous survey by independent research company Pollara released recently by BMO Harris Bank. That coincides with a … [More]
