Business Commons^™

The Economic Impact Of Artprize 2023, Christian Glupker, Paul Isely

Other Faculty Publications

ArtPrize is estimated to have generated or supported economic benefits for Kent County in the following ways:

• The total economic impact of all primary visitor spending and ArtPrize operational spending is estimated at $54.7 million in economic output supporting 434 jobs.
• 714,345 total visitors, with 53% visiting from outside the local region. The average age of all visitors was 47 years old.
• 39% of local visitors and 69% of all nonlocal visitors stated that ArtPrize was their primary reason for visiting Grand Rapids.
• All local visitors spent an average of 2.6 days at ArtPrize and all nonlocal visitors spent an …

A Review Of Two Decades Of Research On Language In International Management (1997 - 2022) - Supplemental Material, Yung-Hwal Park, Kevin Lehnert

Other Faculty Publications

This research reviews over two decades of research on language within international management. This comprehensive review codes and summarizes 263 articles, highlighting the impact of language in various strategic areas of management: language policy; HRM and organizational behavior; internationalization; HQ-subsidiary relationship; knowledge sharing; corporate reporting and governance; and mergers and acquisitions (M&A) and inter-firm strategic collaboration. This study also highlights two major needs within the discipline (internal vs. external focus of language and level of analysis – individual, group and organizational), and addressed the call for a broader future research agenda.

The Economic Impact Of The Rapid City Regional Airport - Rapid City, South Dakota, Christian Glupker, Paul Isely

Other Faculty Publications

Highlights from Rapid City Regional Airport's economic impact study include:

• Support for an estimated 2,877 jobs in Pennington County.
• The airport generates $456 million in economic activity for Pennington County.
• The economic activity creates a fiscal impact of $2.2 million for Pennington County.

The Economic Impact Of The Gerald R. Ford International Airport - Grand Rapids, Michigan, Christian Glupker, Paul Isely, Gerry Simons

Other Faculty Publications

Highlights from Gerald R. Ford International Airport's economic impact study include:

• Support for an estimated 30,883 jobs in Kent County and 40,324 jobs in the 13-county West Michigan Economic Development Region.
• The airport generates $5.2 billion in economic activity for Kent County and $7.7 billion in economic activity for the 13-county West Michigan Economic Development Region.
• The economic activity creates a fiscal impact of $10.4 million for Kent County and $10.3 million for the 13-county West Michigan Economic Development Region.
• The airport has a catalytic impact on household income of $1.3 billion.

The Economic Impact Of Saginaw Bay Bass Fishing Tournaments, Christian Gluker

Other Faculty Publications

The 2023 National Professional Fishing League Tournament and the Major League Fishing Tournament are estimated to have generated or supported economic benefits for Bay County in the following ways:

• The tournaments brought 582 total visitors from 25 states.
• There were 4,141 total visitor days. These visitors spent on average seven to eight days in the Bay City area.
• Direct spending of all visitors was $815,000.
• The total economic impact of all visitors is estimated at $976,000 in economic output supporting 10 jobs.
• Visitors generated approximately $8,187 in additional tax revenue for Bay County.

The Economic Impact Of The Frederik Meijer Gardens & Sculpture Park, Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• The total annual economic impact of FMG is $138 million in economic activity, supporting 1,167 jobs, and contributing $77.6 million to Kent County’s GDP.
• The visitor direct spending, operational spending, and capital investment spending generate $353,115 in annual tax revenue for Kent County.
• There were 755,000 visitors to Frederik Meijer Gardens and Sculpture Park (FMG) with 62% of these visitors coming from outside Kent County (nonlocal visitors).
• 50% of the nonlocal visitors were visiting FMG for the first time and 48% of the local visitors visit FMG six or more times a year.
• 40% of all …

The Economic Assessment Of The White River (Michigan), Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• There were 69,543 visitors to the White River in the past year, with 35,329 visitors coming from outside the local region.
• The local primary river users visited the river 49.3 times per year and nonlocal primary river users visited the river 14.7 times per year.
• The nonlocal primary river users averaged $15.84 in spending per person, per day, resulting in $9.0 million in total direct spending.
• The nonlocal primary river users generated $8.3 million in economic output, adding $4.2 million to the local GDP, and support for 80 jobs.
• There was $75,539 in additional tax revenue …

Innovation In The Economy: An Examination Of The Role Of Innovation On Economic Growth, Samuel Macchiarolo

Honors Projects

This paper will be examining factors that may have contributed to past economic recessions, particularly in the US, by looking at levels of both financial innovation and physical innovation, as well as research and development. The paper will take a deeper look into how previous economic recessions happened, how the changes in the level of innovation played a part in those recessions, why innovation levels change so much, and what can be done to eliminate the variation of innovation to help stabilize economic output.

The Economic Impact Of Bell’S Iceman Cometh Challenge 2022 Mountain Bike Race, Christian Glupker, Paul Isely

Other Faculty Publications

The 2022 Iceman Cometh Challenge mountain bike race is estimated to have generated or supported economic benefits for Grand Traverse County in the following ways:

• 16,569 total visitors, with 88% visiting from outside of Grand Traverse County. Over 36 states and four countries were represented.
• There were 38,047 total visitor days, with 95% coming from nonlocal visitors. These nonlocal visitors spent on average 2.5 days in the Traverse City area.
• Direct spending of all visitors was $4.7 million, with nonlocal visitors spending $4.5 million.
• The total economic impact of nonlocal visitors is estimated at $5.6 million in economic output supporting …

The Economic Impact Of Victoria Regional Airport (Texas), Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• A combined economic impact of $44.7 million in economic activity, generating $11.4 million in earnings and supporting 171 jobs. The total economic output includes $12.0 million in indirect and induced economic activity, with approximately 41% ($4.9 million) occurring in the city of Victoria.
• Victoria Reginal Airport's annual spending of $2.8 million generates $4.4 million in total output and supports 23 jobs. The total economic output includes $1.6 million in indirect and induced economic activity.
• Skywest Airlines and TSA operations generate $6.6 million in economic activity and supports approximately 30 jobs. The economic activity includes $2.1 million …

Total Taxation: An Examination Of The Total Tax Burden Of Individuals In The West Michigan Area, Connor C. Meech

Honors Projects

Have you ever thought about how much you might pay in tax each year, across all tax types? If you have, a chill probably went down your spine before you gave up thinking about it. When the subject is brought up, most people think primarily of income. The truth of the matter is that income tax is far from the only tax we pay. Throughout the year, Americans may end up also paying sales tax, property tax, fuel taxes, various sin taxes, and estate tax, just to name a few. With so many ways to be taxed, some of which …

Bus 201: Legal Environment For Business Oer Curation, Erica L. Schiller, Matt Ruen

Curated OER Collections

This OER curation is an annotated bibliography of prospective OER for the GVSU course BUS 201: Legal Environment for Business.

Are Lonely Salespeople Costing You Customers?, Valerie Good, Lisa Earle Mcleod

Other Faculty Publications

As customer interactions have shifted to Zoom, sales jobs have become increasingly transactional and lonely. Recent research suggests this is a costly problem that goes beyond a hit to morale: It’s actually causing three problematic behaviors — social awkwardness, impaired memory, and conspicuous overspending on customers — that could damage business performance. The authors offer eight strategies managers can implement to help salespeople feel less lonely and ensure your team is approaching customers with confidence.

The Role Of Perceived Organizational Support In Anxiety And Depression, Chloe Dingens

Honors Projects

This study seeks to explore the relationships between employees’ levels of perceived organizational support (POS) and their levels of anxiety and depression. Eisenberger et al. (1986, p. 500) defines POS as an employee's perception about how much the organization they work for values them and cares about their well-being. It was hypothesized that workers who experience higher POS will report lower anxiety and depression. Survey data were collected from 494 adults who worked an average of 39.9 hours per week (SD = 8.3). Participants completed survey measures of POS, anxiety, and depression, and reported demographics (e.g., job tenure) that were …

Pa/Pnh 390: Leadership Dynamics Oer Curation, Chealsye Bowley

Curated OER Collections

This OER curation is an annotated bibliography of prospective OER for the GVSU course PA/PNH 390: Leadership Dynamics, assembled by request from the instructor.

Supply Chain Sustainability In The Fashion Industry, Quinn Hanley

Honors Projects

Sustainability in the fashion industry has become an important topic recently for both retailers and consumers. Through my research I will be laying out what supply chain sustainability is, how it relates to the fashion industry, as well as how companies are doing it well or poorly. I will be using both scholarly pieces and other articles online to perform my research on the topic, to find a more in-depth understanding of how companies are affecting the world around us as well as the people around us. My goal with this research is to educate consumers about how supply chain …

An Entheogenic Endeavor: Exploring Indigenous Healing In Modern Times, Samantha J. Deboer

Honors Projects

There are thousands of years of practice and tradition surrounding the use of entheogens as medicine in indigenous cultures around the world. While our modern western culture methodically dives into this research whilst exploring these medicines for pharmaceutical usage, this work delves into indigenous and shamanic cultures uses of these plants.

Economic Forecast Of Grand Rapids, Mi, Zachary Fillmore

Honors Projects

The purpose of this report is to analyze the current state of the Grand Rapids, MI economy, as well as provide a ten-year forecast of the city’s economic condition. Economic forecasting is the process of predicting the future condition of an economy using the combination of several indicators. The indicators being used for this report will include population growth, economic production, wages, industry specific production trends, unemployment rates, home values, occupancy rates, rent forecasts, education, and tourism. From intensive research and data analysis, a snapshot of the economic condition of Grand Rapids in ten years will be displayed. Additionally, several …

Marketing Strategy Implementation Impediments And Remedies: A Multi-Level Theoretical Framework Within The Sales-Marketing Interface, Avinash Malshe, Douglas E. Hughes, Valerie Good, Scott B. Friend

Peer Reviewed Articles

Why do marketing strategies fail? This persistent question attracts significant attention and resource investments given its associated performance implications. Existing research suggests that most marketing strategies suffer due to poor implementation; however, the nuances of strategy implementation impediments and their accompanying remedies remain underdeveloped. To contribute to this line of inquiry, the authors use multi-level qualitative data to capture cross-functional dynamics that traverse the organizational hierarchy and are critical to marketing strategy implementation. The data collection procedure consisted of depth interviews with 48 informants within eight organizations, constituting sales-marketing dyads at three hierarchical levels (senior, middle, and frontline) within each …

More Than Money: Establishing The Importance Of A Sense Of Purpose For Salespeople, Valerie Good, Douglas E. Hughes, Hao Wang

Peer Reviewed Articles

Much of the current research on salesperson motivation focuses on extrinsic reward expectancy related to compensation, contests, incentives, and quotas. We find that while salespeople want to make money, they also want to make a difference and contribute to society through their work. In Study 1, the qualitative findings reveal that a sense of purpose–the belief that one is making a contribution to a cause greater and more enduring than oneself–is a significant motivator for salespeople. Hence, in Study 2 we develop a measure for sense of purpose and distinguish it from related constructs. Finally, in Study 3 we use …

The Impact Of Culture On Business Negotiations, Nadia L. Gonzalez

Honors Projects

Understanding the impact of culture and cultural differences is essential in negotiations. Using both Hofstede’s cultural dimensions theory and the GLOBE Project’s nine cultural dimensions, this paper highlights the impact of culture in international business negotiations. After discussing the dimensions and various national attributes attributed to these dimensions, this paper highlights several important cultural strategies for firms to keep in mind when negotiating. It concludes with propositions and a discussion about how negotiators can improve their skills through an understanding and respect of cultural differences.

Mathematical Modeling In Finance, Owen Sweeney

Honors Projects

Financial tools play an integral role in the day-to-day lives of individuals and businesses. Many of these tools use predefined formulas to calculate items such as loan payments, interest and capital structure components. These tools do not usually provide the flexibility needed when new parameters are introduced. By utilizing mathematical modeling, these standard formulas can be derived and even improved to provide the needed flexibility.

A Review Of Two Decades Of Research On Language In International And Multicultural Marketing (1997 – 2020) – Supplemental Material, Yung-Hwal Park, Kevin Lehnert

Other Faculty Publications

This comprehensive review piece investigates over two decades of research, reflecting on the crucial role of language in international marketing success. In coding and summarizing 181 articles, this work highlights how language has impacted international-marketing-related outcomes across 19 specific content areas. Those content areas are then grouped into seven broad research themes relating to language: Marketing Communications; Linguistics; Branding; Consumer Behavior; Servicescape and Retailing; Internationalization, Supply Chain and Sales; Bilingualism. We synthesize these themes and the common outcomes of the research. From these themes we highlight challenges to the field and explore future research in language in international marketing.

Understanding And Motivating Salesperson Resilience, Valerie Good, Douglas E. Hughes, Alexander C. Labrecque

Peer Reviewed Articles

Prior research has shown that approximately half of salespeople fail to achieve their targets each year. Not only is the role difficult but also sales jobs are often marked by high levels of stress, rejection, and burnout. Thus, salesperson resilience is critical. However, a gap remains in our understanding of how resilience influences performance and how managers can motivate salespeople to be more resilient. To answer these questions, we collected survey data from 110 salespeople from a large firm based in the Midwest, along with objective effort and performance data provided by the company prior to and following a poor …

Investor Behavior In The Midst Of A Global Pandemic, Abigail N. Bates

Honors Projects

Investors partaking in portfolio and asset management through the stock market and other avenues do so with certain reasoning and methods in hand. Each investor may have different interests and risk tolerances that guide their choices for investment. Behavioral finance allows for an in-depth look at an investor’s actions and the influencing psychology behind it. Before this approach was popularized, early studies of finance assumed that investors were always rational in their decision making and put resources only into opportunities that would increase their utility or happiness. The behavioral finance approach takes a more comprehensive look at these behaviors and …

Supply Chain Management For Circular Economy: Conceptual Framework And Research Agenda, Daniel Pellathy

Peer Reviewed Articles

Purpose – Circular economy (CE) initiatives are taking hold across both developed and developing nations. Central to these initiatives is the reconfiguration of core supply chain management (SCM) processes that underlie current production and consumption patterns. This conceptual article provides a detailed discussion of how supply chain processes can support the successful implementation of CE. The article highlights areas of convergence in hopes of sparking collaboration among scholars and practitioners in SCM, CE, and related fields.

Design/methodology/approach – This article adopts a theory extension approach to conceptual development that uses CE as a “method” for exploring core processes within the …

Doing Good When Times Are Bad: The Impact Of Csr On Brands During Recessions, Valerie Good

Peer Reviewed Articles

Purpose – This paper aims to determine what the brand performance consequences of corporate social responsibility (CSR) activities would be during times of recession for well-known brands.

Design/methodology/approach – Based on signaling theory, this paper investigates if CSR activities serve to signal higher brand value for consumers via perceptions of better quality and greater differentiation, specifically during recessions. This study incorporates a representative longitudinal sample of known US firms for the analyses, which is accomplished through generalized method of moments estimations.

Findings – The findings empirically demonstrate that CSR initiatives during recessions are actually associated with increased perceptions of brand …

Using Alteryx Designer In Audit, Nolan Asiala

Honors Projects

My senior project was built around data analysis and how it relates to the auditing profession. Initially, I was planning on attending a data analytics competition, but that was canceled due to the events of COVID-19. This project utilized the Alteryx Designer program to demonstrate how it can be used during an audit engagement. By creating a workflow in Alteryx Designer, a report from a client can be cleaned and reformatted into a working dataset. My project includes two Excel files, a Microsoft Word document that serves as a brief introduction to the program, and a video describing the workflow …

Analyses Of Five Industries, Potential Job Prospects, And Expatriate Employment In Spain, Leonardo Brista

Honors Projects

This memorandum analyzes five industries of personal interest and potential job opportunities within each, as well as an analysis of Spain’s economy and identifying the process of working as an expatriate. The goal of this project is to lay out the career opportunities in various industries in and out of the United States, the situation of their environments, and rationalizing them in an evaluative method. Each industry of interest will be analyzed on their economic strength, sociopolitical environment, and geographic area of focus. The top five companies in each industry will also briefly analyzed, comparing their overall employee approval rating …

Beyond Warm Glow: The Risk-Mitigating Effect Of Corporate Social Responsibility (Csr), Abhi Bhattacharya, Valerie Good, Hanieh Sardashti, John Peloza

Peer Reviewed Articles

Corporate social responsibility (CSR) positively impacts relationships between firms and customers. Previous research construes this as an outcome of customers’ warm glow that results from supporting firms’ benevolence. The current research demonstrates that beyond warm glow, CSR positively impacts firms’ sales through mitigating their customers’ perceptions of purchase risk. We demonstrate this effect across three conditions in which customers’ perceived risk of purchase is heightened, using both secondary data and two lab experiments. Under conditions of greater purchase risk (i.e., recessions, a service context, and longer-term consumer commitments), CSR positively impacts both sales and customer purchase intentions to a greater …