A Short Note to New Subscribers
Welcome new subscribers! NMSU Business Outlook is a free, monthly online publication sponsored by NMSU’s College of Business. Its primary audience is business practitioners and laypersons. If you prefer not to receive these alert emails, which link to each new issue, please contact me at firstname.lastname@example.org and I’ll remove your email address from the subscriber list. That said, please try a few issues before deciding. Thanks, and feel free to forward the email address of anyone you believe would appreciate these monthly alerts.
Mike Hyman, Executive Editor
Health Insurance on the Border
Mr. Luis De La Cruz, NMSU
Health insurance continues to be a heavily debated topic. Some people believe everyone has the right to be insured while other people believe everyone should be able to decide whether to be insured. One factor making this such a heated topic is the expense of U.S. healthcare, which costs an average of $8,500 per capital. Sadly, the U.S. spends the most and yet ranks last among 11 developed countries in healthcare efficacy. Changes are needed to improve treatment.
Complete Article: Health Insurance on the Border
Building a Business from Scratch: Part 1
Mr. Tom Dickson, NMSU Class of 1962
Over a 10-year period, I have made almost every mistake an owner or manager could make in creating a new small business. I now want to help others avoid the same mistakes. This is my intent in writing this article on the startup and management of a small business. I also want to show how each type of business has its own advantages and/or near-term problems.
Complete Article: Building a Business from Scratch: Part 1
Surveytainment: A Possible Solution to Declining Data Quality
Dr. Michael R. Hyman, NMSU; Ms. Alena Kostyk, NMSU; Mr. Wenkai Zhou, NMSU
Could the reason for declining survey data quality be “widely used data collection methods are outdated”? After all, the most iconic books on survey research methods (e.g., Dillman 1978; Payne 1951) were written in the pre-Internet, pre-social media, and pre-Millenials era.
Complete Article: Surveytainment: A Possible Solution to Declining Data Quality
Marketing Research Tutorial
Using Bayesian Analysis to Assess the Value of Conducting Marketing Research (Part 2)
Dr. Michael R. Hyman, NMSU; Dr. Jeremy J. Sierra, Texas State University
Managers should assess the value of conducting research. If its cost exceeds its value, then managers should avoid it. We recommend you use a Bayesian approach, which is a more formal way to assess likely value. After all, why pay more for something than it is worth?
News & Notes
Distinguished Alumnus: Mr. Jerald “Jerry” Smith, NMSU BBA, Class of 1977
Mr. Anthony Casaus, COB Assistant Dean, Alumni Relations
Mr. Jerald “Jerry” Smith’s education from NMSU’s College of Business served as a springboard for working with tribal council members to build and sustain economic development on the Pueblo of Laguna, a tribe in west central New Mexico.
Complete Article: Distinguished Alumnus: Mr. Jerald “Jerry” Smith, NMSU BBA, Class of 1977
Future of Business: Invitation to Participate in an Online Panel
Dr. Michael R. Hyman, NMSU; Ms. Alena Kostyk, NMSU
Given our business community’s forward-looking and tech-friendly disposition, we believe NMSU Business Outlook readers have interesting perspectives to share on business in the intermediate and distant future. Hence, we are inviting you to participate in an online panel on this topic.
Complete Article: Future of Business: Invitation to Participate in an Online Panel
Dr. Christopher A. Erickson, NMSU
The situation of the last few months continues. New Mexico appears to be in recovery, although at a pace slower than the national economy. Meanwhile, Las Cruces remains mired in recession, with the household and establishment surveys both showing declines. Interestingly, the Wholesale Trade sector increased by 25% during the last year, perhaps reflecting an increase in international trade associated with the Union Pacific Intermodal Train Depot.
Complete Article: Talking Points