...CONCLUSIONS Paper Five Best Practices for Social Media Measurement How to link social media metrics to business results Insights from the webinar, Less Talk + More Action = Better Results, in the Measure What Matters: Redefining Marketing Success in the Digital Age series, presented in association with the American Marketing Association and SAS Featuring: Katie Delahaye Paine, CEO of KDPaine & Partners John Bastone, Global Customer and Media Intelligence Manager at SAS Five Best Practices for Social Media Measurement 1 If there’s anyone out there who still believes social media doesn’t warrant serious consideration, consider some basic facts: There are more than 750 million active users on Facebook, 140 million unique visitors to the site each month, 200 million registered Twitter users, and more than 100 million professionals on LinkedIn. That’s just for starters. In addition to social networking sites, there are blogs, comments on traditional media and e-commerce websites, review sites such as ConsumerSearch and Epinion, content-sharing sites such as YouTube and Flickr, and collaborative projects such as Wikipedia. Nearly half of Americans now get their news from the Web. One in five reads blogs. More than 80 percent of Americans use social media in some fashion each month. Some of those people just might be talking about your brand – and your competition. Some may be ambassadors and advocates, or they may just as easily be detractors and malcontents...
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...E11-4 (Depreciation Computations—Five Methods) Wenner Furnace Corp. purchased machinery for $279,000 on May 1, 2012. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and working hours of 25,000. During 2013, Wenner Corp. uses the machinery for 2,650 hours, and the machinery produces 25,500 units. a. $279,000 – $15,000 = $264,000; $264,000 ÷ 10 yrs. = $26,400 b. $264,000 ÷ 240,000 units = $1.10; 25,500 units X $1.10 = $28,050 c. $264,000 ÷ 25,000 hours = $10.56 per hr.; 2,650 hrs. X $10.56 = $27,984 d. 10 + 9 + 8 + 7 + 6 + 5 + 4 + 3 + 2 + 1 = 55 OR n(n + 1) = 10(11) 55 "10 X $264,000 X 1/3 = $16,000 55 " 9 X $264,000 X 2/3 = 28,800 55 Total for 2013 $44,800 e. $279,000 X 20% X 1/3 = $18,600 [$279,000 – ($279,000 X 20%)] X 20% X 2/3 = 29,760 Total for 2013 $48,360 E11-8 Goldman Corporation bought a machine on June 1, 2010, for $31,800, f.o.b. the place of manufacture. Freight to the point where it was set up was $200, and $500 was expended to install it. The machine’s useful life was estimated at 10 years, with a salvage value of $2,500. On June 1, 2011, an essential part of the machine is replaced, at a cost of $2,700, with one designed to reduce the cost of operating the machine. The cost of the old part and related depreciation cannot be determined with any accuracy. On June 1, 2014, the company buys a new machine of greater capacity...
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...The Qualitative Report Volume 8 Number 3 September 2003 447-461 http://www.nova.edu/ssss/QR/QR8-3/mccaslin.pdf The Five-Question Method For Framing A Qualitative Research Study Mark L. McCaslin University of Idaho, Idaho Falls, Idaho, USA Karen Wilson Scott University of Idaho, Idaho Falls, Idaho, USA The Five-Question Method is an approach to framing Qualitative Research, focusing on the methodologies of five of the major traditions in qualitative research: biography, ethnography, phenomenology, grounded theory, and case study. Asking Five Questions, novice researchers select a methodology appropriate to the desired perspective on the selected topic. The Method facilitates identifying and writing a Problem Statement. Through taking a future perspective, the researcher discovers the importance and direction of the study and composes a Purpose Statement. The process develops an overarching research question integrating the purpose and the research problem. The role of the researcher and management of assumptions and biases is discussed. The Five-Question Method simplifies the framing process promoting quality in qualitative research design. A course outline is appended. Key words: Qualitative Research, Five-Question Method, Biography Research, Phenomenology Research, Grounded Theory Research, Case Study Research, and Ethnography Research Introduction Planning a qualitative study for the first time tends to be an intimidating venture for graduate students just entering...
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...Abstract Five Guys’ has evolved from a small family eatery, to one of the largest restaurant chains in America. They haven’t utilized any major marketing methods, but have accomplished this simply by understanding what their customer’s want, and how to consistently provide it. Five Guys’ was founded in 1986 with its original restaurant located in Arlington, Virginia, and quickly became a Washington, D.C. area treasure. It was Jerry and Janie Murrell who presented their four sons with two options, start a business or go to college. The Murrell brothers chose the latter opening their first restaurant location with their parents’ supervision. The family operated five restaurants by the year 2001 and began to offer franchise opportunities in 2002. Now, 26 years later, there are in excess of 1000 Five Guys’ locations throughout the nation, with plans for 1500 locations in development. This paper examines what differentiates Five Guys’’ from other restaurant chains. The literature notes the factors that contributed to Five Guys’’ success and rapid growth. How Does Five Guys’ Philosophy Set It Apart? As stated on the company’s website “We follow the philosophy of focusing on a few items, and serving them to the best of our abilities,” this is what sets Five Guys’’ apart from other fast food chains. Unlike their competitors, such as Burger King and McDonalds, Five Guys’ has a specific goal, which is to serve the highest quality hamburgers and fries achievable. Their...
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...Five Guys Burger and Fries Restaurant Five Guys Burgers and Fries restaurant started as a 1 restaurant operation located in Arlington Virginia. As an alternative to college Jerry Murrell decided he would build a family business that his sons would help run. He then told his two older sons if they opted not to go to college he would use their college money and put it towards a business and they would stay behind to build and help run the business. His sons agreed. The two younger sons also joined the family business and in 1986 Five Guys Burgers and Fries restaurant was launched. (Monte 2012) Although not the least expensive burgers in town Jerry Murrell, his wife and their sons were determined to create a place where people can go and have good home made to order burgers and fries. They set themselves apart from traditional fast food burger restaurants such as McDonalds and Burger King by not cutting corners and using the best and the freshest ingredients. Good high quality meats are always used to make burgers and put between daily fresh baked buns and lots of topping. Their hand made fries are cut from fresh patatoes cooked fresh every day. Nothing on the menu starts out frozen. Making these good dishes would not only put smiles on their customer's faces but keep them as returning customers time after time with family and friends. Their customers would become the advertisment for Five Guys. The Murrell family were believers in the keep it simple approach to...
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...Burgers and Fries? | Successful Leadership and Entrepreneurship of Five Guys Burgers and Fries | | | | 10/28/2012 | Assignment 1: Entrepreneurial Leadership Contemporary Business Abstract This paper will analyze the business Five Guys Burgers and Fries to determine what has made this business and franchises successful. Five Guys operates in the food service industry and is among the top profitable franchises that offers a simple menu of burgers and fries as its main product. Five Guys’ is a family owned business that started in Arlington, VA that over time became one of the most popular places for fast food that did not require any marketing strategy to be a well-known place to eat. Five Guys’ prides itself of being such a simple company offering the best burgers and fries for a low-cost. Also, the business maintains a sense of integrity and ethics that continues to drive the business profits and keeps customers coming back for more of the burgers and fries. History There are plenty of restaurants available for quick choices of food and also price; one company has improved over time with being number one for a simple hamburger and fries combo. This company, Five Guys Burgers and Fries, are well known in the United States as a fast growing company that started from humble beginnings. The Murrell family, which consists of Janie and Jerry and their five (5) sons, help run the business from the beginning in Arlington, VA...
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...1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. The five Guys’ philosophy, Jerry Murrell and his five sons saw the vision to opened a fast food restaurant, on the menu is Americans favorite meal, hamburger and fries. The first store opened in Arlington, Virginia, 1986. Welch (2010) found…Jerry Murrell and his sons believed to set apart for other fast-food chains they would need to concentrate on the quality of the quality of their product, and the satisfaction of their customers. Boone and Kurtz (2012) Found…In his own words, Jerry Murrell’s business plan was simple. “Sell a really good, juicy burger on fresh bun. Make perfect French fries. Don’t cut corners. Five Guys’ burgers are made to order, it is different from the other fast-food chains, not place under a light for extended hours. According to Boone and Kurtz, (2012); the Five Guys Burger stores had a sign “If you are in hurry, there are a lot really good hamburger places with short distance from here.” 2. Analyze the original values for the start-up company and how it remains strong today. Boone and Kurtz (2012) found… the original values from the beginning, Five Guys fast-food restaurant wanted people to known that their money went to providing quality food. Money not spend on décor, the stores have simple red and white tiles. The hamburger meats are 80 percent lean, never frozen, always fresh. The fries are made from potatoes from Northern Idaho. The potatoes in Florida and California...
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...understanding of Vonnegut’s expressions, or rather inexpression of violence of war. Vonnegut’s writing style directly correlates to the notions that violence cannot be accurately represented. Ultimately, this suggests that Slaughterhouse Five’s larger theme at work is that the violence of war is a trauma that is utterly unrepresentable. In majority of Slaughterhouse Five, Billy Pilgrim’s explanations are done in a matter-of-fact way. Whether this be about time travel, his family’s tragedies, or about the...
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...Running Header: Special Interest Special Interest Jermall Cuffee Professor: Dr. Jane El-Yacoubi POL 110 03/03/13 So, when the election is all over. What can the average American do to stay involved in the political arena and not have to wait for the next election? There is one significant way of influencing American government and that is through an Interest Group. Interest Groups also known as advocacy groups, lobbying groups or special interest, are in place to persuade or prevent changes in public policies. They exist for the solemn purpose of conveying the views and defending the interest of a part of society to public officials. There are all types of interest groups in America from animal rights groups to public interest groups to citizen groups. Interest groups get there start when James Madison developed the theme in “The Federalists (No. 10). In it he discussed factions, which was his term for interest groups and Madison believed that will always have diverse interest especially when it comes to economic circumstances and property ownership. Even though interest groups can be found deeply rooted in many different traditions and cultures such as Germany, they are common threads that can be observed in the development of interest groups mostly in Western industrial societies. There are about four phases in which the development of interest groups can be viewed. In what is called the first phase or the preindustrial phase beginning in the 1830s to the 1870s, there...
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...Janie Murrell’s four sons. Soon thereafter Five Guys Burgers and Fries was born. The Murrell family opened the restaurant in Arlington, Virginia in 1986, quickly becoming an institution in the area. From 1986-2001 the Murrell family business went from one location to five in the Washington – DC metropolitan area. In 2003 the Murrell’s decided to give franchise opportunities and have exploded nationally, becoming America’s Fastest Growing Fast-Food Chain. In this analysis I will determine the Five Guys philosophy and differentiating factors from its competitors. I will also analyze the firm’s original values, and other factors that have contributed to its explosive success as a start-up and over the last 10 years. The Philosophy and Original Values The philosophy of Five Guys Burgers and Fries has been to “sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners. (Welch)” Five guys competes in what is known as the fast-casual restaurant market. This is a mix of the traditional fast-food / quick service restaurant like McDonalds and more casual dining entities such as Applebees. By focusing on quality as a primary driver rather than speed it creates a sub-set within the restaurant industry. Five Guys has a very a limited menu and focuses its attention towards creating the highest quality burgers and fries at a reasonable price point. Jerry Murrell, founder, chief executive and father of the “Five Guys” is committed to nothing less than the...
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...Five Guys: An Honest Business Built on Simplicity Reyna Haynes-Smith Professor Barry Adkins Contemporary Business BUS 508 October 19, 2012 Food. It’s a major topic of discussion today. What’s healthy, what’s not. What’s filling, what’s worth the money. There are many factors that contribute to the reason consumers choose one business over another. Most choose fast food options because they don’t have the time for a sit down meal. Time is short and many want a meal that is filling but also want something healthy. Enter Five Guys Burgers and Fries. Five Guys was founded in 1986 by Jerry and Janie Murrell in Washington DC. They wanted to give their sons the opportunity to either build a business or go to college. The business route won and the family opened a carry out burger joint in Alexandria, VA. Their premise was to concentrate on the quality of their product and the satisfaction of their customer. From that a simple yet beneficial business was born. The “Keep it simple” mindset has brought Five Guys tremendous success. “Now, over 20 years after Five Guys first opened, there are over 1,000 locations nationwide and over 1500 units in development. Five Guys continues to receive media attention and has grown a cult-like following around the world”. Five Guys took many years to perfect their business practices. Many of their practices differed from those of other businesses...
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...customer appreciated restaurant of today with old fashion hard work and common sense. Assignment 1 – “Entrepreneurial Leadership” Determine how Five Guys’ philosophy sets it apart from other fast-food chains? In today’s fast food market chains businesses have to focus more on nutrition as well as making profits. Today within our health conscience world we now live in and with all the media hype about overweight people in the United States fast food chains need to really market themselves in a way to stand out above others in order to compete. Although the number one goal of any business model is to maximize profits and minimize costs in order to meet shareholders expectations as well as growing the business to maximize profits they now have to be thinking of creative ways to grab the customers and make them feel they are making a well educated guess in eating healthier even though it is still considered fast food. The Five-Guy business model has really been creative in certain ways to capture this. The owner Jerry Murrell believes in order to gain a market edge he focused on quality of the products they use in order to gain the satisfaction of their customer base. All the meat they use in the chains are at a minimum 80% lean, never frozen but made fresh from their plants delivered fresh to be used each day. Five-Guys also buys all their potatoes for their fries at reasonable prices from farmers in Idaho due to more...
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...Philosophy: Set apart A fast food burger is a burger, right? Not at 5 guys. Other chains use frozen meat with additional preservatives and have extensive menus with items such as milkshakes, salads, desserts, etc. 5 Guys website states “We follow the philosophy of focusing on a few items, and serving them to the best of our ability. If we were to add to our menu, then you can guarantee that we would only do so if we could serve the highest quality product possible.” (5 Guys Website) They go on to add that if they are not able to do something the very best, better than what is already available out there via other venues, they are not going to do it at all. 5 guys have received several awards for being the best and this philosophy certainly is a big part of how they have maintained such consistent success. If you go into any 5 guys you will clearly see their simple approach from decorating to pounds of potato bags filling the dining area. You know you will get fresh cut fries and that is only one of the many fresh options available. The menu is not extensive as stated already, however it is classic and alluring. You can order a burger “your way” at Burger King, but it’s a whole other ballgame at 5 Guys. Here you can see the fresh selection list of toppings…all free of charge to make your burger the best it can be. This is not stingy burger or fries either. A small fry can easily feed two people as not only is the cup it comes in filled to overflowing, the bag they...
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...wait for the doctor to come back to the room to talk to you about the prescription but the doctor can talk to you right there and send it to the pharmacy as soon as possible instead of you having to take it there. It’s something that you can rely on for your own good. What environmental trends are working in Script Pads favor? If Script Pad has uncovered a promising business opportunity, what environment trends have made Script Pad possible? Put yourself in the shoes of a family physician that’s part of a small practice (containing five doctors). If you were that doctor and were being pitched on Script pad’s method for writing prescriptions, how would you react? What would you see as the pluses and minuses of adopting the service? Ultimately, based on the information in the case and Script Pad’s web site, what would your decision be? * My reaction to being pitched about writing prescriptions compared to me using the Script Pad method is really nothing. Doctors all started off writing prescriptions and some doctors still do it because I went to...
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...P A R T 1 Venture Opportunity, Concept, and Strategy Entrepreneurs have important roles in creating new businesses that fuel progress in societies worldwide. The entrepreneur uses innovation and technology to foster positive impact and activity in all facets of life. The capable entrepreneur learns to identify, select, describe, and communicate the essence of an opportunity that has attractive potential to become a successful venture. The entrepreneur is able to describe the valuable contributions of a venture and create the design of a business model that can be sustained by a competitive advantage. The venture team creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■ C H A P T E R 1 Economic Growth and the Technology Entrepreneur There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy |||||What drives global entrepreneurship?|| |C H A P T E R O U T L I N E|||| ||||| |||||ntrepreneurs strive to make a difference in|| 1.1|The Entrepreneur’s Challenge|||| 1.2|The Entrepreneur||our world and to contribute to its better-|| ||Ement. They identify opportunities, mobi-|| 1.3|Economics and the Firm||| |||lize resources, and...
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