Wednesday, August 31, 2016

Consider the role of the family in career planning

Image result for Work home hobbies
Non-work orientations are related to
higher career and life satisfaction

The study shows that the salaries of people who have strong non-work
orientations are not negatively affected. In addition, they are
happier with their career and with life in general.

When planning a career, many people take non-work orientations into account, such as family, personal interests and civic engagement. Psychologists from the University of Bern (Switzerland) have found out that people who strongly consider the role of the family in career planning report more satisfaction with their career and their lives in general. Surprisingly, non-work orientations also showed no negative effects on earnings.

People differ greatly in terms of how much they consider nonwork roles, such as family, personal interests and civic engagement when making career decisions and planning their career. Up until now, it was unclear how the consideration of nonwork roles affect career success and satisfaction with life in general.

Taking the family into account leads to more satisfaction
In a study over a time period of six months with over 500 employees from Germany, Andreas Hirschi and colleagues of the Institute of Psychology at the University of Bern (Switzerland) and the FHNW School of Applied Psychology have shown that people who more strongly integrate family considerations into their career planning report greater satisfaction with their careers.

Increased attention towards the family, personal interests and civic engagement are also correlated with generally higher satisfaction with life. It also shows that in particular a strong family orientation had the greatest effects on satisfaction with life. In addition, the researchers discovered that people with stronger nonwork orientations do not earn less money than those who focus more exclusively on their careers.

No significant differences between men and women
In terms of family orientation and taking civic engagement into consideration in career planning, no differences due to sex were identified. Yet women took time for themselves and for their personal interests more into account for their career path than men. The study found no differences in nonwork orientations between young employees between 25 and 34 years and older employees between 50 and 59 years.

Self-sacrifice for the job no longer an ideal image
"In many organisations, there is still a prevailing image that an ideal employee completely and totally lives for work. On the other hand, people who are strongly involved in non-work activities are often told that they do not have enough ambition for their career and that it could have negative consequences on their career success," says Andreas Hirschi. But the study shows that the salaries of people who have strong non-work orientations are not negatively affected. In addition, they are happier with their career and with life in general. "The results suggest that, in general, it is worth to actively include non-work aspects like family or personal interests in career planning," adds Hirschi.

Story Source: Materials provided by University of Bern.  Andreas Hirschi, Anne Herrmann, Noemi Nagy, Daniel Spurk. All in the name of work? Nonwork orientations as predictors of salary, career satisfaction, and life satisfaction. Journal of Vocational Behavior, 2016.

Tuesday, August 30, 2016

Single women with personal wealth more likely to become entrepreneurs than men

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www.lipstickalley.com

Single women with personal wealth more 
likely to become entrepreneurs than men

". . .from 2009 to 2014, the proportion of men in self-employment
increased by 6 per cent. Over the same period, the proportion 
of self-employed females jumped by a remarkable 22 per cent."

A new economic study by the University of Stirling and Royal Holloway, University of London has found evidence that there is a big difference in cash flow problems faced by men and women in the UK. They found single women face more severe constraints to their incomings and outgoings, but that those single women whose personal wealth increases unexpectedly through an inheritance are more likely to start a new business than their male counterparts.

It is difficult for an aspiring entrepreneur, or current business owner, to obtain the funds necessary to start a business or expand an existing one. Labour Force Surveys show that from 2009 to 2014, the proportion of men in self-employment increased by 6 per cent. Over the same period, the proportion of self-employed females jumped by a remarkable 22 per cent.

Despite the relatively large growth rate in self-employed females, obstacles for women that want to engage in entrepreneurial activities still remain. In the area of small business operations, one of the main problems many entrepreneurs face is how to maintain a flow of cash through the business.

Using previously unexplored data from the Wealth and Assets Survey, researchers found evidence that there are substantial differences in liquidity between the genders in the UK. This is based on the finding that the willingness to start a new business increases with personal wealth, and this relationship is stronger amongst women than men. The relationship is strongest amongst single women.

Researchers found that £1,000 more money in the bank would lead to an 8.5 per cent increase in the probability a single woman starts a new business.

Researcher Tanya Wilson, Early Career Fellow in the Division of Economics at the University of Stirling, said: "There are several possible explanations as to why liquidity constraints are most severe for single women. It could be that single women have less collateral necessary for securing a loan. There may be gender discrimination in the granting of credit. It is also possible that single women are more risk averse than others and choose not to borrow money even when borrowed funds would be forthcoming.

"A glass ceiling may emerge even in self-employment when women suffer relatively more from liquidity constraints than their male counterparts.

"If lack of collateral is the main obstacle preventing a single woman from starting a new business, or expanding an existing one, then a new private initiative or public policy that helps channel sufficient collateral to liquidity-constrained single women would be of great economic and social value. Public policy programmes that encourage business start-ups do currently exist, but they are generally too restrictive to affect a substantial proportion of single women."

Story Source:  Materials provided by University of Stirling. Robert M. Sauer, Tanya Wilson. The rise of female entrepreneurs: New evidence on gender differences in liquidity constraints. European Economic Review, 2016

Thursday, August 25, 2016

BRANDING: Going green is for girls, but branding can make men eco-friendly

Image result for Pepsi Max
Marketers used more masculine fonts and colors in packaging
and hired very masculine spokesmen, explicitly stating that the 
product was for men only. It worked. Marketers changed their
phrasing to 'zero-calorie' drinks. Pepsi Max stated that it was
the 'first diet cola for men'. 

Going green is for girls, 
but branding can make men eco-friendly

"Shoppers who engage in green behaviors are stereotyped by others 
as more feminine and also see themselves as more feminine."

Studies show that men are not as environmentally friendly as women. But could men be persuaded to go green? New research indicates the answer is yes — and it’s all about branding.

The study "Is Eco-Friendly Unmanly? The Green-Feminine Stereotype and Its Effect on Sustainable Consumption," forthcoming in the Journal of Consumer Research by James Wilkie, assistant professor of marketing at the University of Notre Dame's Mendoza College of Business, provides evidence that shoppers who engage in green behaviors are stereotyped by others as more feminine and also see themselves as more feminine.

n a series of seven studies, Wilkie and his co-authors manipulated small details about the products, attempting to change men's attitudes and behaviors. They found that men are more open to purchasing environmental products if their masculinity gets a branding boost.

"Previous research shows that men tend to be more concerned about maintaining a masculine identity than women are with their feminine identity," Wilkie says. "We therefore thought that men might be more open to environmental products if we made them feel secure in their masculinity, so they are less threatened by adopting a green product."

They used two approaches -- affirming a man's masculinity before introducing him to environmental products and changing the associations people have toward green products.

"We documented how both men and women find green products and actions to be feminine," Wilkie says. "We thought that if you reframe environmental products to be more masculine, men would be more likely to adopt them. Instead of using traditional marketing messages about green products (which are typically perceived as feminine), we changed the messages to be more masculine in nature by changing the phrasing, colors, etc. When we did that, we found that men were more willing to 'go green.'"

One study was conducted in China at a BMW dealership and focused on a model known for being an eco-friendly car. While surveying shoppers, the researchers simply changed the name of the car from the traditional, environmentally friendly name to "Protection," which is a masculine term in China. Despite all other descriptions of the car remaining the same, the name change did increase men's interest in the car.

In another study, the team compared men's and women's willingness to donate to green charities. They called one "Friends of Nature," with a bright green logo featuring a tree. The second was named "Fun for Wilderness Rangers" showcasing a wolf howling to the moon. Women favored the more traditional green marketing, while more men were drawn to the masculine branding over the traditional.

Wilkie proposes marketers mimic successful approaches in other products to combat feminine stereotypes.

"Body wash used to be considered a very feminine product, but companies changed that perception by marketing their products in a more masculine fashion," Wilkie says. "They used more masculine fonts and colors in packaging and hired very masculine spokesmen, explicitly stating that the product was for men only. It worked -- as it also did for diet soft drinks. Again, there was a perception that 'diet' products were for women. Marketers changed their phrasing to 'zero-calorie' drinks. Pepsi Max stated that it was the 'first diet cola for men' and Dr. Pepper 10 warned, 'It's not for women.'

"These campaigns appeared to get more men to purchase the product, yet did not scare away women. We think that green products can be successfully marketed in the same way."

Story Source:  Materials provided by University of Notre Dame.   Aaron R. Brough, James E.B. Wilkie, Jingjing Ma, Mathew S. Isaac, David Gal. Is Eco-Friendly Unmanly? The Green-Feminine Stereotype and Its Effect on Sustainable Consumption. Journal of Consumer Research, 2016

Wednesday, August 24, 2016

Want to succeed as an entrepreneur? Then put yourself in your customer's shoes

Want to be an entrepreneur? 

Then put yourself in your user's shoes

"Thomas Edison and Richard Branson show how they were aware of the link
between putting themselves in their customers' shoes and a successful idea."

A new study explores the cognitive traits that can spur the recognition of market opportunities in entrepreneurship. In particular, this research introduces a new cognitive mechanism called “user perspective taking”, which means assuming the user’s perspective when approaching a market, and finds that by adopting such a perspective entrepreneurs are able to enhance their ability to identify market opportunities.

Emanuela Prandelli and Gianmario Verona (Department of Management and Technology) together with Martina Pasquini (IE Business School) have published "In User's Shoes: An Experimental Design on the Role of Perspective Taking in Discovering Entrepreneurial Opportunities" in Journal of Business Venturing.

Entrepreneurship is about discovering and exploiting opportunities for new businesses. To recognize the right opportunities is thus among the most important abilities an entrepreneur must possess. At the same time, understanding the potential demand and customers for your business is a core feature of opportunity recognition.

Research in entrepreneurship has pointed to information corridors as a primary cause of the discovery of entrepreneurial opportunities. Recently, however, the focus has shifted to cognitive traits that, in addition to the information possessed by an entrepreneur, can spur market opportunities. Cognitive mechanisms can affect how an entrepreneur interacts with the environment, and so are particularly important when it comes to understanding demand. This is why Prandelli, Verona and Pasquini decided to investigate a specific cognitive mechanism, which they call "user perspective taking," and its effect on opportunity recognition, through an experiment involving 137 graduate students.

User Perspective Taking
Perspective taking (PT), the cognitive component of empathy, is the ability to understand others' experiences and feelings and to view the world from other persons' perspective. Extensively studied in psychology, business studies have discovered how PT contributes to marketing performance and organizational alignment. But its role for demand and entrepreneurship is still unknown. Anecdotal evidence, the authors say, points to the importance of understanding demand and customers when looking for new business opportunities. The examples of entrepreneurs such as Thomas Edison and Richard Branson show how they were aware of the link between putting themselves in their customers' shoes and a successful idea.

The results of the scenario-based experiment in the food industry support the authors' intuition. Those who were asked to help a user to invent a new product package by assuming his perspective, compared to those who did the same but without PT, were able to identify a market opportunity. Moreover, through the experiment the authors also found that prior knowledge of the market positively moderates this relationship between user perspective taking and opportunity identification.

Story Source:  Materials provided by Bocconi University, original written by Paola Zanella. Emanuela Prandelli, Martina Pasquini, Gianmario Verona. In user's shoes: An experimental design on the role of perspective taking in discovering entrepreneurial opportunities. Journal of Business Venturing, 2016.