iLabs

Help Wanted: Business professor advises how to navigate the latest economic challenges

stuxbury — Mon, 15 Nov 2021 23:55:56 +0000

Help Wanted: Business professor advises how to navigate the latest economic challenges stuxbury Mon, 11/15/2021 - 18:55

“Out of stock" messages on websites have risen 250 percent compared to pre-pandemic levels. Almost half of small business owners say they are finding it harder to find employees with the right skill sets to fill their positions. Heading into the holiday season, the optimism felt earlier this year isn’t as shiny and bright.

College of Business faculty member Patrick Keyes, who teaches 51��Ƶ-Dearborn’s Small Business Management course and has owned a business, understands struggles associated with ownership and wants people to know that there are ways through them.

“Our local economy is still being impacted by pandemic-related challenges. The U.S. economy as a whole is out of equilibrium. The country is working to correct it, but we’ll continue to feel these swings — having too much or too little — with each correction until the right balance is found,” he says. “Things like Small Business Saturday (which is Nov. 27) and help getting access to capital are good, but those don’t really address the larger issues.”

Talking with Keyes recently, he shared a few tips on how to navigate challenges and find success within the ever-present change.

Find partnerships in the community.

At one time, businesses did not talk to their competition. That’s no longer the case — Keyes says people need to put aside old thinking and find ways to work with other businesses in your area, even if they offer similar products and services.

Here’s why: You want to learn what’s working for them and what’s not. It’s also important to see what they offer and learn how you can help each other.

For example, if a customer calls your restaurant to inquire about a large lunch order, but your hours start at 4 p.m., refer the caller to a restaurant that’s open. Or if your schedule doesn’t work for a potential client’s fast-track project, connect them with another person whose services may be a fit. That creates a solution for the customer from a trusted source, and may give a financial boost to a small business in the community, and pave the way for that owner to reciprocate the referral.

“It is always better to have half of something than all of nothing,” Keyes says. “This is an uncertain time for a lot of people. Remember that you aren’t alone in this. Other businesses are feeling it too.”

He says partnerships can lead to more than customer referrals. There’s also cross-promotional marketing, shared costs for events, larger talent pool reach and more perspective when it comes to idea generation. “We need to be working together. Business partnerships are critical for local economies.”

When it comes to relationship building, focus your attention online.

Keyes says before people patronize or work for a business, they often are already familiar with it. “People typically don’t buy big-ticket items or hand a $300,000 contract to just anyone. Those go to people who are trusted.” He says it’s all about long-term relationships. Those take time, but the good news is that anyone can cultivate them.

This typically begins online by hearing about someone’s positive experience or seeing a business’ social media posts. “Without a relationship, you are just another store or service,” Keyes says. Active social media channels and thought-out social strategies are a must for relationship cultivation. (51��Ƶ-Dearborn students are often looking for opportunities like these for internships. Contact the Internship and Career Management Center if interested.)

Also important? Maintaining an updated “storefront” presence where people can browse and purchase, and an employment area for people to see available positions and apply. For small businesses that don’t have the resources to create a comprehensive website at the moment, Keyes says there are alternatives like an Etsy Shop or Amazon Storefront for retail and DoorDash Storefront or Grubhub for restaurants. For general services that don’t have direct up-front ordering, like construction work or consulting, post to local Facebook Marketplace sites or create an Upwork.com profile. If owners are looking for talent, sites like Flexjobs or Indeed can help.

No matter what you do, Keyes says look for ways to expand your web presence and budget for it. “There are third-party sites that are good to use, but if you can bring people to one place — like your website — to interact with you, that’s even better. If you have a well-managed online presence, it builds credibility and trust.”

Trust also plays a major role in hiring and employee retention. In general, loyalty isn’t the same as it once was on either side of the employer/employee relationship, Keyes says. Today employees are ultimately looking for the highest wage available and flexible remote work, but employers can’t always offer those. Even when owners have financial and location constraints, transparent and trusted workplaces make up a lot of ground.

Market and sell what you do have.

Billions of dollars in supplies are sitting in backed up U.S. ports. It’s wreaking havoc on many of the country’s industries and economists say the effect of this will likely be felt into mid-2022. Keyes understands the frustration of overcoming challenging situations...just to find more obstacles.

However, small businesses have entrepreneurial thinking on their side, he says. The strategy and creativity that led to business development will help get them through this challenging chapter.

One Dearborn business, I Say It with Cafe, expanded its coffee-themed gift item selection when some of the farm-sourced Puerto Rican coffee beans, a staple product, was temporarily out of stock. Hookah Love, another locally owned business, created a mobile party service that travels to businesses or homes so people can more easily gather in ways that are comfortable for them. Having a mobile service also reduces overhead costs that go with a brick-and-mortar location.

“Don’t be too focused on the hurdles or trying to go back to the way things were prior to the pandemic. If you do that, you will miss opportunities. I promise there are opportunities out there, but to get them you probably need to change how you do things. What that looks like depends on your business and its goals,” says Keyes, who says COB faculty can assist business owners with change management and new business strategies. “But what’s the same for all of us is knowing that our lives have forever changed. What worked for you three or four years ago doesn’t always work for you today. It’s the same for your customer. Embracing change is the best way forward.”

Article by Sarah Tuxbury. Want assistance with your business? Reach out to the College of Business iLabs Center for Innovation Research or email Professor Keyes directly.

Entrepreneurship

Faculty Research

51��Ƶ-Dearborn Experts

College of Business

iLabs

Management Studies

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Mon, 11/15/2021 - 23:42

Lecturer Patrick Keyes, who teaches 51��Ƶ-Dearborn’s Small Business Management course and is an entrepreneur, understands struggles associated with business ownership and has a few ideas on how to work through them.

A graphic that features Lecturer Patrick Keyes and his business expertise.

Taking care of business

stuxbury — Mon, 23 Aug 2021 17:37:14 +0000

Taking care of business stuxbury Mon, 08/23/2021 - 13:37

Ida González says coffee speaks to her soul — it’s a gift and an experience. When her family moved to the Midwest from Puerto Rico, she couldn’t find the smooth, sweet coffee flavor that she grew up with. So the attorney and mother of two young boys decided to start a small business to bring the coffee she loves to Dearborn and beyond.

González had the passion, coffee connections and the expertise to start I Say It With Cafe. But she lacked a comprehensive business plan and digital marketing experience.

And that’s where 51��Ƶ-Dearborn stepped in. González worked with College of Business (COB) Lecturer Patrick Keyes and his BPS 441: Small Business Management course, a capstone class in the Small Business Management major. The students helped create a social media plan, identified I Say It With Cafe’s audience and potential market reach, gave ideas for expanding its online presence and more.

Photo of Lecturer Patrick Keyes

“The students presented their information to me right before COVID started and I was able to put it in play at the right moment. When there was a rise in online business, I was ready,” said Gonzalez, who has a partnership with a local coffee roaster and conducts direct trade from a coffee farm in Puerto Rico. Her business features specialty organic coffees from Caribbean and Latin America countries, as well as coffee gifts. “I learned how to strategically manage my social channels, got a better understanding of my audience and what they want, and gathered marketing data. It was a great experience and I’ve used about 70% of what the students shared with me.”

51��Ƶ-Dearborn has a longstanding relationship with downtown Dearborn business organizations like the Downtown Dearborn Authority and the Dearborn Chamber of Commerce, which is how González first got connected with campus.

“I started at farmer’s markets, but wanted to continue to grow. However, I had limited resources when starting out like most small businesses. That’s why it is so important to look for support and talent in the networks that are out there,” said González, who also mentioned that her nine-year-old son created her logo. ”I know I love coffee because it brings people together. Have something to celebrate? Let’s go get coffee. Are you sad? Sit down and let’s talk over coffee. But I wasn’t exactly sure how to market that. The students helped me identify my target audience so I could focus on providing something unique for them.”

To strengthen partnerships and continue to find ways to support local businesses, Downtown Dearborn developed a Business Assistance Team. College of Business Lecturer Tim Davis, who is the Assistant Dean for Student Engagement and Success, has served as a university point person in meetings.

“The College of Business sees experiential learning as a foundation to understanding the nuances of business and how each company has to prepare and react based on their specific goals and customers. That is why we love to have students connect with professionals in every subject and around a variety of problems,” Davis said.

College of Business Small Business Management and Marketing dual major Alex Davalos said she took Keyes’ BPS 441 class and worked as an intern for I Say It With Cafe. She said during that time I Say It with Cafe’s revenue increased by 10% in a four-month period based on social media strategy changes and marketing efforts. But how to increase sales numbers wasn’t the most valuable lesson that Davalos learned.

“I saw the amount of work and dedication Ida put into her business. She was constantly thinking about what is next, constantly networking, constantly anticipating what her customers will want. She has the fire needed to get a start up off the ground,” Davalos said. “I eventually want to own my own business, and I saw all of the behind-the-scenes work needed to get one up and running.”

In addition to finding ways students could get plugged in with downtown business leaders, Davis seeks ways to connect entrepreneurs with university assistance. One of the projects — in addition to the class-based connections — was a COB iLabs Center for Innovative Research survey that looked at how local businesses pivoted their offerings and services to weather the pandemic and what effect that had on their outlook.

“A community research project like this gives businesses an outlet to share their experiences, helps us keep our students aware of what’s happening in the local community, and provides data to the city — it’s a win-win-win,” said iLabs Project Manager Kari Kowalski when speaking about the survey project.

But much of the business assistance — like what González received — starts in the classroom. Keyes said College of Business faculty members always have their radar up for experiential learning opportunities.

“Our focus was twofold with this particular initiative: to provide the students experiential learning applying the concepts learned in the entrepreneurship and project management classes, as well as work with Downtown Dearborn to provide local businesses with support as they adjust their business model to successfully function in the world of COVID,” he said.

Even in the virtual environment, Keyes’ classes continue to evaluate start-up businesses and provide pointers, including a presentation to a new local business, Hookah Love, last week. Keyes says giving support to businesses when they need it leads to relationships down the road that will benefit students. “We create internship and job pipelines when business owners see the value that our students bring and the strength of our programs. We aren’t only here to give lessons — we guide students in applying what they learn too.”

González agrees. Entering her third year of business, she’s expanded her offerings to a variety of corporate gifts and virtual experiences like a Coffee Masterclass. She’s hired five 51��Ƶ-Dearborn interns through campus’ talent pipelines like the Internship and Career Management Center and the Career Services offices and looks forward to what the future holds. Now as a more established business owner, she’s interested in speaking with classes and helping students where she can. For example, she’s written letters of recommendation for a few of the students.

“Thanks to the great experience I had with the college, I was able to implement new ideas to keep my business growing,” she said. “The students I’ve met are driven. They helped me meet my goals. I want to help them meet theirs.”

Article by Sarah Tuxbury. If you are a business interested in partnering with a College of Business opportunity, please reach out to umd-ilabs@umich.edu.

Entrepreneurship

Student Success

Volunteer or Community Service

College of Business

iLabs

Management Studies

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Mon, 08/23/2021 - 17:35

To strengthen community partnerships and help students gain experience, College of Business initiatives continue to support local businesses throughout COVID changes and help entrepreneurs succeed.

Business owner Ida Gonzalez, center, started a coffee company. She's pictured with her two children.

eCities annual study recognizes 206 communities in Michigan

stuxbury — Wed, 21 Oct 2020 21:10:34 +0000

eCities annual study recognizes 206 communities in Michigan stuxbury Wed, 10/21/2020 - 17:10

Graphic for eCities

If you are looking for entrepreneurial growth and innovation in Michigan, eCities, the annual research project conducted by iLabs, 51��Ƶ-Dearborn’s Center for Innovation Research, has a list of 206 communities for you to check out.

The communities, located throughout all corners of the state, are recognized with four and five stars for their efforts that influence entrepreneurship, economic development and job growth.

“Each year, the eCities project aims to highlight the successes and continued commitment of cities and townships to grow business and support entrepreneurship within their communities,” said Kari Kowalski, iLabs project manager.

The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets, and tax rates, which can demonstrate the growth, investments, and cost of doing business within the community. For example, over the five-year period of 2015-2019, these communities increased their capital assets by an average of 2.4 percent per year by investments such as library equipment, building, water, and sewage improvements, and street renovations, while property tax rates increased by less than 1 percent on average per year.

Although accounting for less than 20 percent of the State’s cities and townships, the 277 communities analyzed are home to 70 percent of Michigan’s population and 87 percent of the state’s commercial property.

Local communities who participate in the project receive benchmarking reports showing their performance at creating inviting business environments and encouraging entrepreneurial growth. The focus of the project is to learn and share community success stories to attract entrepreneurial development and create business growth. Understanding these success stories, or best practices, and utilizing these concepts across Michigan can positively impact the state’s economic future.

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Wed, 10/21/2020 - 21:09

Researchers focused on the five-year changes in property values, community assets, tax rates and cost of doing business within the community.

Campus research institute improves business practices and your resume

stuxbury — Tue, 08 Sep 2020 01:24:01 +0000

Campus research institute improves business practices and your resume stuxbury Mon, 09/07/2020 - 21:24

A College of Business student gives a virtual presentation during her iLabs experience.

Kristina Kelley wanted to meet people, add experience to her resume and understand how to conduct research. So when she first came to 51��Ƶ-Dearborn in 2019, the College of Business student applied to work at iLabs Center for Innovation Research.

“I didn’t know much about campus at that time and I was new to the Dearborn community. Becoming a student researcher has introduced me to great people and expanded my connections,” she says.

Through iLabs, Kelley says she’s worked with nonprofits, municipalities and businesses on projects that would help improve their processes and customer service. “I now know how to identify a problem and give solutions through collecting and analyzing data. That’s a valuable skill to have — at work, school or home.”

COB Assistant Dean for Student Engagement and Success Tim Davis and iLabs Project Manager Kari Kowalski say the iLabs research — which is a three-credit-hour independent study — is open to all students regardless of major or degree level.

Interested students can apply now for Winter 2021 client projects. After applying, students are interviewed and paired with projects that match with their interests. Each iLabs project team ranges from two to four people.

“No matter your academic interest, you can be successful in iLabs,” Kowalski says. “We don’t expect you to know everything — you are here to learn. What we are looking for is a can-do attitude and a willingness to learn; bring that and you will walk away with skills and experience that will benefit you.”

Marketing senior Brandon Harris says he connects with his iLabs mentors and student teammates remotely twice a week. During that time, he’s gained more than a resume line. He’s also grown his confidence.

“I’ve learned to clearly state my ideas and became more confident when expressing myself,” he says. “I’d never done research prior to this, but I knew it was key to presenting an informed solution to a business problem.”

Harris and Kelley have been working together on an iLabs project to examine if employer and student educational expectations match. They spoke with industry leaders in business and engineering, interviewed alumni and analyzed the data.

When the research duo found that the expectations didn’t match — Kelley says students think hard skills, like learning a specific program, is what employers want; employers say they can teach hard skills and would prefer developed soft skills like the ability to work well in a team — they created a presentation to virtually share with faculty. They will give the presentation later this month.

“We are going to present our findings and suggestions on how to bridge that gap,” says Kelley, who is a graduate student in finance. “The iLabs staff mentors you to make sure that you are ready to give your presentation — work with you from start to finish on a project to make sure it’s right and you are prepared for anything a client may ask.”

Davis, who’s led the center for more than a decade, says that’s the beauty of the iLabs experience: It prepares you for anything.

“It’s learning those soft skills employers are looking for and how to handle a multitude of professional situations,” Davis says. “We help students connect what they are learning in class to real world problems that need to be solved. The experience will help them in future — while also helping local businesses and agencies discover ways to improve their organizations.”

Check out the iLabs student researcher site for more information on the research experience.

Experiential Learning

Research

College of Business

iLabs

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Tue, 09/08/2020 - 01:22

iLabs consulting-style research experience is open to students across campus. Applications are now accepted for the Winter 2021 term.

These Michigan cities are driving entrepreneurial growth and innovation

admin — Thu, 29 Nov 2018 13:11:13 +0000

These Michigan cities are driving entrepreneurial growth and innovation admin Thu, 11/29/2018 - 08:11

Annual eCities study

Four communities across the state of Michigan have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study. The study, conducted by iLabs, University of Michigan-Dearborn’s Center for Innovation Research, identified the cities of Charlevoix, Hillsdale, Marquette and Sault Ste. Marie for their successes and efforts in contributing to Michigan’s growth.

“For more than a decade, the eCities project has highlighted how local governments from across the state of Michigan are cultivating and supporting economic development. These communities show how local governments can work in distinct and strategic ways to energize public spaces, while investing in businesses and job development,” said Tim Davis, director, iLabs.

The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets and tax rates, which can demonstrate the growth, investments and cost of doing business within the community. For example, over the five-year period of 2013-2017, these communities increased their capital assets by an average of 2 percent per year by investments such as street and building improvements, technology, and emergency vehicles and equipment.

“While accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to 70 percent of the population and 85 percent of the state’s commercial property,” Davis said. “By analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.”

Additionally, 26 communities answered optional, open-ended questions about recent business climate improvements, future development goals, and small business attraction.

“The responses from communities that resonated most with reviewers included a clear, but brief, explanation of the business community,” said Davis. “This wasn’t done with a list of demographic details; it was with a specific example of how a policy helped business, or a point in time that helps define the community.”

The communities — as well as 181 communities named five- and four-star performers — were recognized today during the Executive Speaker Series panel discussion, which discussed Michigan’s economic growth, including key areas such as capital, infrastructure, industry, and the ecosystem.

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Thu, 11/29/2018 - 13:09

The annual eCities study recognizes 181 Michigan communities — including four standouts — developing a positive entrepreneurial climate.

Students earn first-time awarded College of Business Certificate in Entrepreneurship

nlerma — Mon, 23 Jul 2018 15:36:57 +0000

Students earn first-time awarded College of Business Certificate in Entrepreneurship nlerma Mon, 07/23/2018 - 11:36

Entrepreneurship certificate - first graduates

Scott Fritz is used to going the distance. The running enthusiast, veteran and information technology professional said he’s always pushed himself.

But he credits an innovative College of Business (COB) course for giving his latest venture a nudge.

Frtiz, a biology major, took an entrepreneurship course—ENT 400: Entrepreneurial Thinking and Behavior—as an elective. That course led him to enroll in the university’s Certificate in Entrepreneurship program, which gave him the knowledge and confidence he needed to turn a dream he had into reality.

“I had never taken a business class before. I am a science guy. But the course looked interesting, and I knew I had a business idea in the back of my head—starting a race management company—that I didn’t really know what to do with,” said Fritz, a senior who is active in the racing community. “Just like running, I learned that being successful is about the proper training and a goal: Getting a personal best. I knew I had the determination, but this certificate gave me what I needed to properly focus my drive.”

Fritz is among the first group of students to earn the new certificate this summer.

Tim Davis, iLabs director, said COB saw student demand for a expansive entrepreneurial program after revamping ENT 400 a few years ago. Working with industry and seeing that entrepreneurial thinking is beneficial to all workplaces—not just the ones you start—Davis led a course redesign that grew to an expansion educational offerings. The certificate builds off of that redesign. The college also will offer an entrepreneurship minor, beginning this fall. The 15-credit minor, interdisciplinary in elective course selection options, includes a capstone course.

“The meaning of entrepreneurship has shifted—it benefits people in all fields. Instead of having a business plan focus, it’s about finding opportunities for change and creating solutions. It’s about running into a setback and thinking agile enough to see this as a time to come up with a new plan. This is applicable no matter where you work,” said Davis, who teaches the ENT 400 course. “More and more, entrepreneurial thinking is a preferred skill listed when employers post positions.“

Davis said the nine-credit Certificate of Entrepreneurship is open for both enrolled and guest students. The three courses in the program teach students about market assessment, business planning, effective communication, staffing, financial planning, operations management and more.

“It’s also about converting and capturing value. How can you create value using a problem that needs solved? And while we do love to make money, value isn’t always tied to that. It can be social responsibility too,” Davis said. “These courses let students know that there is not a single right way to get started. It’s about being innovative and making smart choices that are right for you, the organization and the end user. Simply drafting a business plan is an old thought process; iteration is how we create great products.”

Fritz said this advice prompted him to pursue his passion for running and working in the runner community.

“Before this, I thought I had to go all-in and choose between my IT career, which I really enjoy, and this dream I had. Professor Davis and the certificate classes showed me that I can do both,” he said. “I don’t need to choose. I can have a career and a hobby business that grows as demand and time allow.”

Frtiz’ business, Mitten Race Management, is under development and will launch in the spring.

“The running community is so positive and uplifting, and I wanted to become involved in a deeper way. This business will allow me to do that, and my courses have showed me how I can balance this passion in a way that doesn’t take away from my other responsibilities,” he said. “It has pushed me mentally and physically at times. But, like running, it feels good.”

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Mon, 07/23/2018 - 15:36

Entrepreneurship is more than making business plans—it’s innovative thinking, creative strategy and more. To reflect the educational needs in this ever-changing process, the College of Business offers a certificate program and a new minor.

Student entrepreneurs focus on food and mobility solutions at fifth annual Pitch Competition

admin — Mon, 02 Apr 2018 14:14:36 +0000

Student entrepreneurs focus on food and mobility solutions at fifth annual Pitch Competition admin Mon, 04/02/2018 - 10:14

COB Idea Pitch Competition

Entrepreneurial thinking can solve just about anything. But can it help a picky child eat their veggies?

One team at 51��Ƶ-Dearborn's 2018 Business Idea Pitch Competition last week says it can. And with their five-minute presentation at the fifth annual College of Business event, they convinced the panel of judges too.

Earning first place and the fan favorite online vote, the Happy Tummy team—made up of members Alina Hernandez, a sophomore majoring in industrial engineering, and graduate students Raquel Estrada and Priyal Sheth—was awarded prizes, which included start-up money.

“So many parents have issues with having their kids eat, either because they will not sit still or because they are too picky. We hope our new design will add an element of fun—and education—for kids, and relieve stress on parents,” said Hernandez, who showed a 3D printed model of Happy Tummy they made in the Mardigian Library IDEA Studio to the judges.

The Pitch Competition, which buzzed with energy to a full house at Fairlane Center North last week, is designed to promote the entrepreneurial environment of campus by identifying and supporting promising new business ideas from students.

Students were encouraged to share their ideas for the chance to win $5,000 in cash prizes. While hosted and led by the College of Business, students across campus are invited and encouraged to take part in the experience.

Although not limited to these topics, the focus for the entrepreneurial initiative is to provide solutions to issues surrounding healthy food and mobility/transportation, such as access, quality and education.

“We have been doing this for five years now, and the ideas keep getting better,” said iLabs Director Tim Davis. “Food and mobility have continued to be the focus of the competition because the problems you can work to solve in these areas applies to people here on campus, across the globe and everywhere in between.”

Eleven student groups competed for prizes—ideas ranged from Mealbox, which is an EBT-based delivery service with nutritionally healthy food and recipe cards, to Idle, a ride-sharing service with a structured app platform that gives mobility to others through short-term car rentals from individuals.

Competition judges were Innovatrium CEO Staney Degraff, Robert Bosch-North America Corporate Strategy Manager Preetinder Gill, ITA Head of US Beauty Sector Meredith Kerekes and Visteon Global Continuous Improvement Engineering Director Amy Lester.

On the stage, Hernandez explained to the audience that Happy Tummy is a kids’ feeding plate with an entertainment station included. The interactive plate, which is for children 18 months and up, holds their attention and facilitates healthy eating training through game play.

The plate shape is rectangular, but the food pathway is wavy and whimsical like Candyland game board—minus the obvious, of course. Kids can eat separated food portions on the way to the end, where a caregiver can elect to place a dessert.

Hernandez, noting the idea came from group members having young children in their families, said the interactive plate knows what the kids eat because of a built-in scale mechanism. And, as they eat, an application that runs on a computer screen—which is connected to the plate/scale—incorporates their food into learning modules kids enjoy.

Hernandez said the contest was a fun learning experience for her. It may be housed in the business college, but she appreciated everything she’s learned and can apply to her future career in engineering.

“Engineers are creative and we love to problem solve. But we might not know how to sell an idea,” she said. “With this competition, it is not just identifying and solving a problem. It is doing that and then learning how to best present these things in a confident way. We believe in what we are doing, but this competition showed me how to take that feeling and our research and successfully pitch it to an audience.”

Hernandez said the teams’ family members—and others they have spoken with— are interested in testing out a future product; the team will now look at next steps.

“When we did our research, there are parents—almost 90 percent—who really want Happy Tummy. I am excited to continue developing our idea,” she said. “We haven’t slept for days because we wanted everything to be perfect with the presentation. I’ll rest for a day, but not long—we have work to do.”

Experiential Learning

College of Business

iLabs

College of Engineering and Computer Science

Metropolitan Impact

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Mon, 04/02/2018 - 14:13

Eleven cross-campus teams competed for the opportunity to win $5,000 in prizes.

Four Michigan communities recognized for efforts in contributing to Michigan’s growth

nlerma — Mon, 13 Nov 2017 15:41:50 +0000

Four Michigan communities recognized for efforts in contributing to Michigan’s growth nlerma Mon, 11/13/2017 - 10:41

Annual eCities study

51��Ƶ-Dearborn’s iLabs’ eCities research recognizes 184 Michigan communities developing a positive entrepreneurial climate

Four communities across the state of Michigan have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study. The study, conducted by iLabs, University of Michigan-Dearborn’s Center for Innovation Research, identified the cities of Dexter, Saginaw, Sturgis and Tecumseh for their successes and efforts in contributing to Michigan’s growth.

“For 10 years, the eCities project has highlighted how local governments from across the state of Michigan are cultivating and supporting economic development. These communities show how local governments can work in distinct and strategic ways to energize public spaces, while investing in businesses and job development,” said Tim Davis, director, iLabs.

The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets and tax rates, which can demonstrate the growth, investments and cost of doing business within the community. For example, over the five-year period, these communities increased their capital assets by an average of 2 percent per year by purchasing public safety equipment and improving sidewalks and other infrastructure.

“While accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to nearly 70 percent of the population and 85 percent of the state’s commercial property,” Davis said. “By analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.”

Additionally, 37 communities answered optional, open-ended questions about their development objectives, unique community features and recent successes.

“Reviewers found that the most compelling community stories came from those who understand the importance of a diverse community and business community, recognize their unique features and can connect how those features can attract talent,” Davis said. “In many cases, these communities are able to further use their unique assets and diversity to create an environment that allows a prospective business to see why their firm could succeed there.”

The communities—as well as 183 communities named five- and four-star performers—will be recognized Tuesday, Nov. 14, during the eCities Panel Discussion, which will discuss how talent, business policy and access to capital have impacted community growth in Michigan. The panel, moderated by DBusiness Magazine and DBusiness Daily News editor R.J. King, will feature Beth Ardisana, CEO, ASG Renaissance; Antonio Luck, managing director, Endeavor Detroit; Anthony Tomczak, chief procurement officer, DTE Energy; and Amelia Zamir, co-founder and principal of acquisitions, Method Development. The event is free, but registration through the 51��Ƶ-Dearborn College of Business website (umdearborn.edu/cob) is required.

The annual eCities research project, which began in 2007, previously used data supplied by the participants. This year’s shift to reviewing publicly available data was implemented to simplify the process for communities.

“Reducing the amount of time it takes for communities to share their information may encourage more communities in be involved in this study,” Davis said, “allowing us to further understand entrepreneurial success across the state.”

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Mon, 11/13/2017 - 15:40

The communities were identified as part of the annual eCities study, conducted by iLabs, 51��Ƶ-Dearborn’s Center for Innovation Research.

51��Ƶ-Dearborn student groups help ‘Give-Back,’ evaluate nonprofit

admin — Mon, 20 Mar 2017 16:06:15 +0000

51��Ƶ-Dearborn student groups help ‘Give-Back,’ evaluate nonprofit admin Mon, 03/20/2017 - 12:06

Alcodray has a few boxes around the Metro Detroit area to collect hotel toiletries people bring home from travels. Once every two months, he transports these items to homeless shelters in Detroit.

“I go every couple months, but there is still a greater demand. I’d like to help these shelters better get their needs met,” said Alcodray, a frequent traveler for work who started the organization to repurpose the unused hotel items he brought home.

So he approached the College of Business.

“I wanted some feedback on the Give-Back Project’s website and maybe some ideas for marketing. To be honest, I wasn’t thinking much beyond that. I was happy to get any type of feedback,” said Alcodray, who runs the nonprofit as a one-man show when he’s not working at his full-time job.

But what the Dearborn Heights resident—who has two children at 51��Ƶ-Dearborn, two who are U-M graduates and has taken classes at the university—got was much more. He was given access to students who have helped him generate ideas, carry out his nonprofit work and suggest ways to make his process more efficient.

“I was given a hands-on all-in response. I was connected to professors, students and their ideas,” Alcodray said. “It’s been great to be surrounded by all of the young energy.”

After iLabs Director Tim Davis met with Alcodray, Davis took an interest in the project. He saw this as an opportunity to show students how a seemingly simple idea still has many moving parts to manage.

“Joe is a one-man band who wants to pick up material from boxes and then distribute them to warming centers and homeless shelters. It’s simple in concept, but there are a lot of things to look at in the process. Where are the best places to put the boxes? How many boxes should there be? How often should materials be picked up? How do we raise visibility to collect more materials? How can an already lean process be more efficient?” Davis said. “There is more to it than you realize.”

Davis came up with an incentive for students to help give Alcodray fresh ideas and evaluate the Give-Back Project’s process.

Through support from the Ford Community Corps Program—which is supported by the Ford Fund and has the goal of engaging students with nonprofits in the community—Davis reached out to all COB student organizations and, in exchange for a semester-long commitment to the project, he’d give $500 to their general funds. In addition, all students involved would become a part of the Ford Blue Oval Network, an exclusive Ford-based young professional network.

“The students have gone out to businesses, had new boxes placed and have been collecting materials and tracking progress. At the end of the semester, they will sit down with Joe and give him their key findings,” said Davis, who noted that the American Marketing Association (AMA) and the Financial Investment Club are taking part.

AMA President Adrian Andrade said the students have placed boxes in several new locations—from ad agencies to community libraries. The nearly 30 new locations are being tracked and evaluated.

He said the project has challenged him on both a personal and professional level.

“It was a real life experience in managing resources—our time, our members and our networks—under constraints and making what appears to be the best overall call,” he said. “This was more challenging than I expected it to be, but that is a good thing. There is an intense satisfaction knowing that you are helping a good project accomplish a mission. I’m glad we have this opportunity to make a difference.”

Experiential Learning

College of Business

iLabs

Metropolitan Impact

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Mon, 03/20/2017 - 16:06

Joe Alcodray—who founded the Give-Back Project, which collects and distributes travel-sized toiletries to homeless shelters—wanted to get advice on how to improve his nonprofit organization.

Economic investment: Communities recognized for entrepreneurial development

admin — Fri, 11 Nov 2016 16:22:30 +0000

Economic investment: Communities recognized for entrepreneurial development admin Fri, 11/11/2016 - 11:22

The study, conducted by iLabs, University of Michigan-Dearborn’s Center for Innovation Research, identified the City of Farmington Hills, City of Grand Blanc, City of Hillsdale, City of Romulus, City of Sault Ste. Marie and City of Tecumseh for their strategies, innovative programs and best practices geared toward business development.

“The eCities project highlights how local governments from across the state of Michigan are cultivating and supporting economic development. These communities show how local governments can work in distinct and strategic ways to energize public spaces, while investing in businesses and job development,” said Tim Davis, director, iLabs.

Also, an additional 40 communities are recognized as five-and four-star performers.

Five-Star Communities (*denotes best practice community)
Five-star communities have commercial constructions worth over $875 million, having issued over 2000 construction permits. They have more than $29 billion in combined real and personal properties. They have more than $21 million in additions to assets in the past year and with about 10% of the employed population being self-employed.

Ann Arbor Charter Township
Cascade Charter Township
Charter Township of Meridian
City of Ann Arbor
City of Coldwater
City of Dexter
City of Farmington
City of Grandville
City of Madison Heights
City of Marquette
City of Midland
City of Mount Pleasant
City of Novi
City of Oak Park
City of Romulus*
City of Sault Ste. Marie*
City of Sturgis
City of Wixom
Delta Charter Township
Kochville Township
Pittsfield Township

Four-Star Communities (*denotes best practice community)
Four-star communities has seen over $342 million in commercial construction which account for close to 50% of the total construction value and 16% of the construction permits. Additionally, they have additions to their assets worth more than $30 million. 68% of their population is over 25 years of age and 47% have attended some college.

Bath Charter Township
Charter Township of West Bloomfield
City of Adrian
City of Dearborn
City of Farmington Hills*
City of Grand Blanc*
City of Livonia
City of Mason
City of Mount Clemens
City of Norton Shores
City of Plymouth
City of Portage
City of Swartz Creek
City of Tecumseh*
City of Trenton
City of Ypsilanti
Cornstock Charter Township
Flint Charter Township
Northville Charter Township
Saginaw Charter Township
Thomas Township
Village of Oxford
Village of Quincy

The eCities study surveyed 76 communities from 25 counties in Michigan that are home to more than 22 percent of Michigan residents and 28 percent with at least a bachelor’s degree. These communities count for nearly one-fifth of the state’s entrepreneurs who earned more than $1.9 billion self-employed income in total. About 60 percent of these communities have a local business database, more than a quarter provide business improvement grants and more than 40 percent have full-time economic development employees.

“For the past decade, eCities research has provided data on the strategies and best practices communities are using to successfully attract and retain business,” Davis said. “We continue to share this research so that communities throughout Michigan can adapt and adopt the tools that best align with their community needs and economic development goals.”

The communities were honored today at 51��Ƶ-Dearborn. Support for eCities is provided in part by the DTE Energy Foundation, Comcast, Plante Moran and 51��Ƶ-Dearborn’s College of Business.

The annual eCities research project, which began in 2007, uses data supplied by the participants, as well as other public records to assemble a six-factor, 32-item index of entrepreneurial activity, looking at such factors as clustering, incentives, growth, policies, community and education. The study focuses on entrepreneurship because of its importance to expansion and diversification of Michigan’s regional economies and the impact small businesses have on job creation. To date, more than 200 communities across Michigan have participated in the study.

iLabs

Metropolitan Impact

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Wed, 11/02/2016 - 10:22

Six communities across the state of Michigan have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study.