Guest Lecture Reflection

Dr. Stephanie Rosenthal believes the consumer plays the role of customer and product simultaneously. 

Dr. Stephanie Rosenthal visited our Business Foundations class on April 6th, 2018.  Her lecture focused on data analytics within businesses that work to interpret and compile information about the consumer.  Aside from tracking the frequency of consumer's visitation to website, she revealed that businesses often track the location of the consumer's mouse to better understand how they navigate the website.  She compared this data to the study of how people navigate grocery stores.  This comparison widened the scope of my definition of data to physical movement that can be analyzed to produce a better and more profitable experience.  If there appear to be consistent errors or areas of confusion, the business may utilize design-thinking to resolve the frequently-occurring troubles users encounter.  Until the user can appropriately navigate the area, they may continue reforming the layout and design of both website and place.

The textbook explains how raw data can be processed into useful information for business owners to use and make improvements by.  Information systems that support processes like this are overseen by a chief information officer (CIO) and chief technology officer (CTO).  Like most management teams, their information system management teams can be divided into top, middle. and first-line.  Top information managers use processed information to plan, set objectives, and make strategic decisions based on the inadequacies of prior approaches.  Middle managers receive information that informs their ability to allocate resources and manage activities accordingly.  Finally then, first-line managers use information to supervise employees, oversee operations, and coordinate activities that align with the company's overall vision and mission statement. 

According to Wladawksky-Berger (2018), corporations are beginning to utilize more direct ways of analyzing customer satisfaction.  Instead of gathering information from the online navigational habits of customers, companies like Adobe are creating surveys that more directly collect information on user-experience.  Overall, consumers of the global market reported that their digital satisfaction score is 55%.  The component that they value the most from popular company's online platforms is personalization services that customize products to suit their needs.  Though many people do not have a grasp on information systems that allow companies to do this, they are in full support of personalization services.  From this information, it is safe to assume that information systems have a bright future and protecting and fostering customer satisfaction. 

References

Wladawksky-Berger, I. (2018). Customer experience is the key competitive differentiator in the digital age. The Wall Street Journal. Retrieved from https://blogs.wsj.com/cio/2018/04/20/customer-experience-is-the-key-competitive-differentiator-in-the-digital-age/.

Professional Networking

The Sustainability Networking Mixer for students specializing in environmental outreach and education was held on March 28th, 2018 at Chatham University's Eden Hall Campus.  The participants included several members of recognizable organizations in the Greater Pittsburgh area such as Grow Pittsburgh, Phipps Conservatory, Allegheny Watershed Association, Allegheny Land Trust, and the National Aviary.  Representatives and their LinkedIn profiles are listed below.  

Alyssa Kail, MFA | Grow Pittsburgh | https://www.linkedin.com/in/alyssakail/
Sarah States, PhD | Phipps | https://www.linkedin.com/in/sarah-states-0b311b2a/
Rebecca Zeyeus, BS | Allegheny Watershed Association | https://www.linkedin.com/in/rebecca-zeyzus-56a2772b/
Jessica Kester, BS | Allegheny Land Trust | https://www.linkedin.com/in/jessica-kester-1a32814a/
Bob Mulvihill, MS | National Aviary | https://www.linkedin.com/in/bob-mulvihill-39b86617/

A consistent piece of advice offered by all participants was to pursue all opportunities, regardless of their direct pertinence to your over-arching goal within the field of sustainability.  Within these opportunities, each participant expressed the importance of maintaining a potential for discovery and learning.  They stressed the necessity of creating space to learn from others when holding an educator position.  Never disregard people's life experiences.  Instead attempt to introduce them into the conversation, lesson, or lecture.  

The concept of creating mutualistic learning environments between management, employees, and customers is emphasized within Herzberg's two-factor theory.  Here the hierarchy of needs is described in two categories: hygiene and motivation factors.  Hygiene factors include quality of supervision, pay, company policies, etc.  Motivation factors on the other hand consist of management providing promotion opportunities, recognition, responsibility, etc.  Together these factors advocate for a sense of transparency between employees and management that reflects on the guests overall experience of that particular establishment.  This form of management is also classified as a democratic leadership style.

Similarly, Cable, D. (2018) suggests that effective leadership occurs when you "bring out the best in your employees" by helping harness sensations of motivation, purpose, and appreciation.  Within this process the leadership should be willing and wanting to learn from the expertise of people in lower-level positions.  These perspectives are often grazed over or left unconsidered, but are integral to the everyday processes that occur within the business.  To encourage an atmosphere of collaboration amongst employees and administration, upper-level management should ask how they can be of more assistance to lower-level employees.  Keeping open lines of communication between the two spheres of business is rare, but absolutely necessary to maintaining a healthy business.   

References

Cable, D. (2018). How humble leadership really works. Harvard Business Review. Retrieved fromhttps://hbr.org/2018/04/how-humble-leadership-really-works.

Welcome to the Ivy Trestle, Pittsburgh's Premier Environmental Eatery.

Mission Statement

Our vision is to create accessible and inviting spaces for people to eat in correspondence with their desire for environmental well-being.  We dedicate ourselves to providing diners with a morally-fulfilling, friendly, and informative service. 

Business Environment

We will be competing in the restaurant industry, which is extremely difficult to establish a distinguished business within.  Because Pittsburgh has recently supported the development of small, unique restaurant ventures, it should be relatively easy to draw attention to this business.  Yet, if this culture of excitement surrounding those businesses did not exist, we would be worried about facing competition from companies that tend to operate in an oligopoly such as Darden and bigBurrito.  Across the globe, the restaurant industry is thriving due to people becoming more radically dependent on convenient, pre-prepared food resources.  In the 2016 Bureau of Labor Statistics Report, the U.S. Department of Labor reveals that 2,118,070 of America's workers work within this sector.

Much like the organic and local foods movement, the quest for environmental well-being through through sharing a meal of invasive species could expand greatly.  There is vast potential within these customer-bases seeing as their missions are to be healthy and support ethical growing practices.

Because invasive species are readily available, the cost of production will likely be much less than other stereotypical fine dining ingredients.  Coupled with the fact that this a unique business venture, it is safe to assume that The Ivy Trestle would have absolute advantage in it's local small-business economy. 

Since they are a luxury, restaurants are extremely influenced by the state of the economy and society at large.  For instance, a strong economy insinuates that people have more money to eat out.  Additionally, consumer trends; such as a growing interest in organic and local foods, influence what foods people tend to purchase and consume. 

Entrepreneurship and Strategy

Despite a growing number of people being interested in eating in correspondence with their morals, getting people to try invasive species could be problematic.  We think the biggest challenge in promoting this to the public is erasing the stigma behind invasive plants and using them to mimic familiar dishes that people can be initially comfortable with.  Again, because people have so many options when deciding where to go out to eat, it is important to remember that dinner with invasive species must be just as, if not more, affordable, convenient, and engaging. 

Operating within the culture of distaste we've established for invasive plants and weeds, we would first work to de-stigmatize them.  With every meal, we might include a creative and informative pamphlet about the value of using these plants in cuisines.  Since the space would also serve as a creative space, we would consider asking local musicians to preform and holding open mic nights as a way of inviting the surrounding community into our space. 

Management

As the General Manager, I will plan according to the pursuit of our mission statement.  With every decision, I will consider the importance of encouraging a culture of sustainability, creating equitable spaces, and enacting creativity in all actions of life.

I will organize by ensuring my workers a livable wage, advertising in creative communities, spending money on local musicians, and refusing to over-pay or charge my customers too much for invasive species-based dinners.  

I will direct employees by encouraging and allowing self-expression within the workplace.  For example, there will be no ban on tattoos, body modification, hairstyles, etc.  I will encourage employees to speak passionately about the issues we support with guests without interrupting their meals.  Additionally, I will continue to make every employee feel valued, appreciated, and informed.  Before each shift begins, we will have a meeting in which all menu changes will be relayed and encouragement will be expressed.  

I will control or oversee the actions of employees by creating an atmosphere of open conversation.  Before each shift, I will ask if there are any issues I'm unaware of that we should talk about.  If nothing arises, but there are underlying issues that I notice, I will be sure to speak with employees independently.  Every month, I will hold a mandatory meeting to discuss company goals, overall progress, and employee concerns.  Overall, my management style will be communal and emotionally-intelligent with lasting attention devoted to self-awareness, motivation, and empathy.  

In order to retain quality employees, I believe it is important to make them feel appreciated, respected, and fairly paid.  In addition to independent value, our workers should also try to see value in each other and actively engage in mutually-beneficial teamwork.  

Marketing

As the CMO, I envision utilizing social media presence to promote our company.  In the beginning, I will help viewers come along for the construction, hiring, and opening processes.  When the restaurant opens, I will post daily about new menu offerings, deals/ specials, and a feature on workers that mimics Humans of New York.  This advertisement would be targeted towards young creative people looking for a space to express and embody their craft, while contributing to the health of the environment.  I will bolster our support on social media by promoting our Instagram, Twitter, and Facebook pages.  

I would attend local environmental marches and network/ mingle with passionate peers.  I would inform them about the potential of eating invasive species to help restore and revitalize native ecosystems.  While within these spaces, I would offer business cards, as well as, flyers for upcoming events.

We will be operating in a consumer market that encourages purchase for personal use.  Our potential customers include eco-conscious millennials, young creatives, and elderly environmentalists who are curious about the progress of their movement.  Because concern for the environment and creative expression are universal concepts, our market will be segmented by psychographics or individual lifestyle choices. 

Product - We are selling a dining experience that gives diners the opportunity to conveniently commit themselves to environmental action, have meaningful discussions, and express their creativity.

Price - We are utilizing focus groups with varying income and social demographics to determine an equitable price point for our product and services.  We encourage prices to be accessible, but encouraging of an equitable wage for our workers.  In the initial phases of this project, we will use penetration pricing strategies. 

Promotion - We will attend local marches, events, and community gatherings to talk about the intersections of social activism, environmental well-being, art, and dining experiences.  We will talk about the value of sharing a meal with people you love, while doing something that enhances one's moral integrity.  We will also have a recognizable presence on social media that will give followers a behind-the-scenes perspective of restaurant life. 

Place - We will seek out property that in no way contributes to or supports gentrification.  We will identify places where people are very socially and environmentally active. 

Overall, we would distinguish our product as an innovative offering by enacting superior customer service that seeks to engage in honest conversation, provide adequate information on the mission of the company, and encourage creative expression.  We will create a fun and inviting atmosphere that pushes back against the idea that delicious food must be formal, uncomfortable, and unexciting. 

Accounting and Finance

             The Ivy Trestle Restaurant

                    Balance Sheet

               As of April 20, 2018

Assets                                                

     Cash                                            $5,000 

     Accounts Receivable                  $8,500

     Inventory                                    $10,000

     Supplies                                      $3,000 

     Total Current Assets                   $26,500

Liabilities and Owner's Equity

     Current Liabilities

             Notes Payable                     $2,000

             Accounts Payable               $3,000

             Wages Payable                    $7,500

             Taxes Payable                     $3,500

             Total Current Liabilities     $16,000    

     Long-term Liabilities

             Notes Payable                     $4,500  

             Bonds Payable                    $3,500

             Total Long-term Liabilities $8,000    

                    

     Owner's equity

             Investment                         $5,500

             Profit Retained                   $2,000

             Total Owner's Equity         $7,500

Total Liabilities and Owner's Equity $31,500

To begin financial planning, I would assess the value of my assets and debt.  Prior to entering business, I have accrued no debt.  I have spent the majority of the beginning of my life building wealth.  As a business owner, I will surely invest a larger portion of my income into the development of my business.  As it takes off, I will progressively begin to focus on preserving and increasing my wealth, while still upholding my morals and ethics.  If this business prospers, I might consider opening others in the local area. 

Information Systems and Operations

In the initial phases of attempting to bolster our online presence, I would track the popularity and appearance of our online platforms via Google Analytics.  Because our management team is very small, I might also consider using a Decision Support System that processes data and makes suggestions relevant to important decision-making processes.

Regarding efficiency, I would endorse a system that allows us to track and re-distribute waste.  Vegetable and herb scraps for example will be accounted for and then delivered to companies such as Steel City Soils who develop compost for urban gardens. 

References

What Makes a Leader? (2004). Harvard Business Review.  Retrieved from https://hbr.org/2004/01/what-makes-a-leader?referral=03759&cm_vc=rr_item_page.bottom.

How Effective Managers Use Information Systems. (1976). Harvard Business Review. Retrieved from https://hbr.org/1976/11/how-effective-managers-use-information-systems.

Occupational Employment Statistics. (2018). Bureau of Labor Statistics. Retrieved from https://www.bls.gov/oes/current/oes353031.htm. 

Meet My Role Model, Stephanie Wright

When we have more than we need, we should build a bigger table - not a higher fence.

Stephanie Wright is a Masters of Arts in Food Studies student with a focus on Food Policy.  She decided to pursue this course of study after receiving her Bachelors of Science in Horticulture from Brigham Young University-Idaho.

Having grown up in poverty, Wright has developed a passion for uplifting disadvantaged youth by intermingling food and education. 

She firmly believes that education is the key to helping underprivileged youth escape poverty.  But, like many have recited before her, pursuing an adequate education is extremely difficult without access to affordable, healthy, and culturally appropriate foods.  In her current and future work, she is constantly working to help low-income families gain access to healthy and nutritious food. 

Wright currently serves as a Food Advocacy Fellow with the Greater Pittsburgh Community Food Bank. 

Beyond her work with the Greater Pittsburgh Community Food Bank, Wright has worked with Chatham University's Eden Hall K-12 program.  Throughout her time in this position, she helped children gain hands on experience in the garden, learn more about soil science, and begin to study aquaponics.  She has continued her work with children in the position of Membership and Outreach Coordinator for the Jewish Genealogy Society of Pittsburgh.  Here, she works with young kids to foster a greater understanding of their Jewish heritage through food. 

To be a successful student, while pursuing advanced opportunities, Wright suggests studying next to a timer.  She says to set it for twenty minutes and when that time is over, giver yourself a brief five to ten-minute break.  This allows your mind to stay focused and active without being drained by long periods of monotonous activity. 

She says that shameless self-promotion and networking were the biggest contributing factors that led her to her previous and current positions.  Whether the applicant is already a great communicator or still working on their skills, Wright suggests being warm, friendly, and always carrying business cards.  Her favorite way to connect after an exchange of information is sending a follow-up e-mail. 

To continue pursuing opportunities that align with passions, Wright suggests always saying yes.  Not only will this further your intellectual growth and development, but it may also expand your resume/ portfolio.

Compared to Chatham Business Insight's article on Jessica Pachuta, MBA '16, this article lacked any mention of preferred or beneficial course material.  If I were to conduct a similar interview in the future, I would provide a description of courses suggested by the interviewee for students who are considering this field of study. 

Stay Current

An Analysis of Freakonomics' Podcast, What Can Uber Teach Us About the Gender Pay Gap?

The gender pay gap that exists between men and women throughout the world has been a hot topic of conversation amongst feminists, researchers, and scholars alike.  Despite global data suggesting that women; on average, earn 30% less than their equally qualified male counterparts, the reasoning behind this inequity is still unknown.  Recently, Uber opened their employment and wage data to five renown economists to be analyzed for the presence and explanation of a gender pay gap.  Since Uber operates as a member of the growing "gig economy" and allows their drivers to adhere to self-determined schedules, their company seemed ideal for this analysis.  

Throughout the course of this study, economists from Uber and Stanford University chose to focus on the city of Chicago, in which 30% of all Uber drivers are women.  They interpreted raw data from January, 2015 - March, 2017.  Overall, this included statistics from 1.8 million drivers and 740 million Uber trips.  

On average, men driving for Uber make 7% more per hour when compared to women. 

Uber's ride-share algorithm does not account for the gender of drivers or riders.  Researchers also discovered that riders do not prefer one gender over the other when choosing their drivers.  Together, these two statistics eliminate the possibility of discrimination being a contributing factor to the gender pay gap.

Instead, Uber's gender pay gap can be broken down into three categories.

1. The decisions of each driver pertaining to when and where they are able/ want to drive.
2. A driver's experience and how that relates to them taking advantage of the highest paying opportunities.
3. On average, men are driving more trips than women per hour.

Additionally, the researchers found that women have high demand for temporal flexibility.  This drastically effects the fluctuation of their wages, when compared to men who are typically able to maintain a more consistent, long-term schedule with Uber.

Once one accounts for these relative differences, it is likely that men and women are being paid the same. 

Uber's participation in this research suggests that the company as a whole intends to improve their corporate social responsibility (CSR).  By identifying the problem areas which lead to a wage disparity between men and women, Uber is making a public effort to express concern and work towards a more equitable future.  Their attentiveness to gender inequities may provide them leverage in the "gig economy", throughout which they are currently competing with companies like Lyft.  Thus, if the consumer values gender equality and fairness, then they will face higher switching costs when considering alternative ride-share programs.