Business Consulting in a Multicultural America

Thaddeus Spratlen is professor emeritus of marketing at the University of Washington and a leading expert on multicultural marketing and business assistance for urban enterprises. Leslie Lum has worked for a Fortune 100 company, a global bank, and as a manager of a retail start-up. Detra Y. Montoya is clinical professor in the W. P. Carey School of Business at Arizona State University. Michael Verchot is the founding director of the Consulting and Business Development Center at the University of Washington Foster School of Business.

• Preface 1. Strategy About This Chapter After Studying This Chapter Strategic Planning in Small Businesses Role of Strategic Planner Small Business Strategic Planning Strategies Porter’s Competitive Strategies Growth Strategies Sustainability and Exit Strategies Tools for Strategic Analysis Porter’s Five Forces Core Competency Value Chain SWOT Analysis PESTLE Analysis The Business Model Case Study 1 / Readapt Systems Strategy for Exponential Growth Discussion 2. Consulting, Teaming, and Project Management About This Chapter After Studying This Chapter Nature of Emerging Business Consulting Entry Business Case Contracting Data Collection and Analysis Data Collection Integration/Synthesis Inferences/Relationships Business Decisions and Actions Metrics Follow-Up Evaluation Teaming High-Performance Teams Team Development Forming Stage Storming Stage Norming Stage Team Roles Cultural Considerations in Teaming Divergent Thinking Performing Stage Teaming Postscript Project Management Project Mission Project Goals and Objectives Project Scope Project Team Knowledge Management Project Plan Project Management and Control Dealing with Problems Project Close Mentoring Creating the Action Plan Focus on Key Issues Prioritize Findings and Analysis Compile the Action Plan Describe Action Steps Follow Up Discussion 3. Multicultural Markets About this Chapter After Studying This Chapter Multicultural Markets Multicultural Marketing Context of Multicultural Markets Multicultural Population Growth Multicultural Purchasing Power African Americans Demographics Geographics Other Factors Purchasing Power Media Hispanic Americans Demographics Immigration Geographics Other Factors Purchasing Power Media Asian Americans Demographics Immigration Geographics Other Factors Purchasing Power Case Study 2 / Northwest Asian Weekly Media American Indians and Alaska Natives Demographics Geographics Other Factors Purchasing Power Media Native Hawaiians and Pacific Islanders Multiple Race Lesbian, Gay, Bisexual, and Transgeder (LGBT) Culture and Markets Discussion 4. Multicultural Entrepreneurship About This Chapter After Studying This Chapter Minority Businesses, Other Small Enterprises, and Nonprofits Most Small Businesses Want to Stay Small Businesses with No Employees Employer Firms Gazelles, or High-Impact Firms Sources of Capital African American Businesses Case Study 3 / Retail Lockbox Hispanic Businesses Asian Businesses American Indian and Alaska Native Businesses Women-Owned Business Enterprises Veteran-Owned Businesses Native Hawaiian and Pacific Islander-Owned Businesses Nonprofit Organizations Discussion 5. Marketing Analysis and Strategy About This Chapter After Studying This Chapter Segmentation, Targeting, and Positioning Market Segmentation Targeting and Positioning Consumer Decision-Making Process Using the Marketing Mix Product Pricing Place/Distribution Promotion Customer Relationship Management Customer Value Proposition Customer Share Customer Lifetime Value Social Customer Relationship Management, Online Marketing, and Social Media Creating a Web Presence Case Study 4 / Bunky Boutique Search Engine Optimization Social Media Maintaining the Website Marketing Discussion 6. Research and Data Gathering About This Chapter After Studying This Chapter Research Process Does the Research Meet the Objective? What Information Is Needed? Are Secondary Data Available? What Methods Will Be Used to Collect Data? What Are the Breadth and Accuracy Required? Who Are the Users of the Research? What Are the Costs and Benefits of the Research? What is the Value Added? Secondary Research Budgeting Time Using the Library Effectively Evaluating Research Consumer Data Competitive Information Small Business Industry or Trade Associations Social Media Primary Research Preliminary Research Refine the Purpose Who Is to Be Surveyed? What Do You Need to Know? Type of Survey Formulating the Questions Ordering the Questions Pretest the Survey Evaluate the Research Process Service Firm Surveys Checklist for Conducting a Survey Qualitative Research Focus Groups One-on-One In-Depth Interviews Case Study 5 / Explorer West Middle School Ethnographic Studies Observational Studies Discussion 7. Business Processes About This Chapter Relationships Between the Balanced Scorecard and Business Process Analysis After Studying This Chapter The Balanced Scorecard Small Business Adoption of Technology Business Process Management Who Are the Customers and What Do They Value? Target the Critical Processes Who Owns the Process? Case Study 6 / Soul Carrier Other Methods of Business Process Analysis Service Blueprint Discussion Case Study 7 / Flowers on 15th 8. Accounting and Financial Analysis About This Chapter After Studying This Chapter Accounting Analysis Setting Up Accounting Systems Order Processing and Fulfillment Purchasing Disbursement Cycle Financial Analysis Income Statement Analysis Balance Sheet Analysis Cash Flow Analysis Accounting and Financial Metrics Financial Projections Case Study 8 / Green Cleaning Seattle Payback Period Net Present Value Return on Investment Internal Rate of Return Sensitivity Analysis Financial Plan for a New Business Opportunity Breakeven Analysis Cost-Benefit Analysis Benchmarking Discussion Epilogue | The Final Client Oral Presentation and Written Report About This Epilogue After Studying This Epilogue Preparing for the Final Presentation and Report Developing Effective Findings and Recommendations Prioritizing Recommendations The Action Plan Measuring Results Communicating Results The Presentation The Final Report Display of Data Suggested Elements of the Final Report Style, Layout, and Presentation Discussion Index