Business

Firms hiring former employees as auditors has been a common, yet concerning practice. In this episode of the Business Review, Assistant Professor of accounting, Dr. Owen Brown, shares a different perspective.

FIRMS COMMONLY HIRE FORMER EMPLOYEES TO AUDIT THEM. IT’S LOGICAL TO ASSUME THEIR ALUMNI MAY SHOW BIAS TO THEIR FORMER EMPLOYER, BUT ASSISTANT PROFESSOR OF ACCOUTING, DR. OWEN BROWN, SAYS HIS RESEARCH SHOWS ANOTHER SIDE.

A lot of companies will hire people from their external audit team or the firm because there's a lot of just kind of natural benefits to doing that.

That’s not an uncommon practice, but there's been some concerns about how that practice of hiring from your audit firm could impact auditor, kind of, independence or their objectivity. If you're

It’s all about relationships, says restauranteur Abraham Nardali. In this episode of the Business Review, he explains how genuinely caring about customers leads to greater success.

ABRAHAM NARDALI EMIGRATED TO THE U.S. WITH JUST A FEW DOLLARS IN HIS POCKET. HE ACHIEVED THE AMERICAN DREAM BY OPENING A TINY RESTAURANT, CONSISTENTLY VOTED ONE OF THE TOP EATERIES IN THE RESORT TOWN OF MYRTLE BEACH.

ABRAHAM’S GYROS OWES ITS SUCCESS TO THE RELATIONSHIPS IT HAS WITH ITS CUSTOMERS.  TREAT THEM LIKE FAMILY, HE SAYS.

The customer is number one.  We always emphasize serving is just like give the customer as you do to your family.  So we love the people, it’s just from the heart. Not just because as a customer, as a person

In Episode 94 of Downtown Depot,  Austin Meek interviews Julie Keith, owner of Vitek’s BBQ. Julie discusses the responsibility of managing the business as a 4th-generation owner and the opportunities the Covid-19 pandemic presents. Before that conversation, Austin shines the Small Business Spotlight, presented by American Bank, on Jose Lopez of Waco Shoe Hospital. 

Dr. Ed Freeman of the Institute for Business in Society says capitalism isn’t what it used to be. In this episode of “The Business Review,” Freeman says that with a new focus on stakeholders, not just shareholders, it’s time to rewrite the story.

CAPITALISM HAS GOTTEN A BAD RAP, AND SOMETIMES DESERVEDLY SO. IT’S TIME TO RE-WRITE THE STORY, SAYS DR. ED FREEMAN OF THE INSTITUTE FOR BUSINESS IN SOCIETY.

First of all, the purpose of business isn’t just to make money.  If you have a purpose, profits follow from that. But it’s purpose first.  The second idea is about stakeholders, not just shareholders.  The third

“The most inspiration woman in the world,” Lolly Daskal, gives a pep talk on the characteristics of a great leader in this episode of the Business Review.

SHE’S BEEN CALLED THE MOST INSPIRATIONAL WOMAN IN THE WORLD, AND LOLLY DASKAL HAS MADE IT HER MISSION TO TEACH OTHERS HOW TO INSPIRE GREATNESS.

TURNING THE TYPICAL BUSINESS MODEL ON ITS HEAD, SHE SAYS THE BEST LEADERS ARE NOT THOSE WHO HAVE ALL THE ANSWERS AND MAKE ALL THE DECISIONS, BUT THOSE WHO RELY ON THE TALENT OF THEIR TEAM, RECOGNIZE THE SUCCESSES OF

Diana Trout, co-founder of KOMBUCHA, tells us what she doe when she has a tough decision and there is not a consensus of solutions.

FOLLOW YOUR GUT AND SHOW THE WORLD WHAT YOU’RE MADE OF. FOR HEALTH-ADE’S CO-FOUNDER DAINA TROUT, IT’S NOT JUST A PART OF THE COMPANY MISSION, IT IS THE COMPASS TROUT USES WHEN MAKING TOUGH DECISIONS FOR HER KOMBUCHA PRODUCING BUSINESS.

The tough ones are the ones where you don’t have alignment. Everybody disagrees about what the right thing to do is. It’s not clear what the right solution is.

In those decisions knowing what to do, where to go, what to hold onto, what to not hold onto is a very personal decision. The way I approach that, I try to be very 

Beth Miller, tells us how to address the behaviors of difficult employees

HARD-TO-MANAGE STAFF TAKES UP TIME THAT LEADERS COULD SPEND ELSEWHERE.  BETH MILLER, FOUNDER OF LEADERSHIP DEVELOPMENT COMPANY, EXECUTIVE VELOCITY, SAYS THE TYPE OF QUESTIONS YOU ASK DIFFICULT EMPLOYEES CAN MAKE ALL THE DIFFERENCE.

I always like to start with how’s and what’s. How’s and what’s will get people to self-reflect and uncover things that probably they really haven't thought about. I would ask, "How would you feel if this behavior was done to you?" Those kinds of questions get the person to shift from me to somebody else.

MILLER SAYS THIS QUESTIONING STYLE IS EFFECTIVE WITH MOST DIFFICULT EMPLOYEES BUT THE APROACH WILL DEPEND ON THE DRIVING BEHAVIOR.

The person who is always trying to push off work to other people, that's a person, who's got some accountability issues. So, that's where you have to be really clear on what is required

This week on Downtown Depot, host Austin Meek is joined by Jed Cole of Brazos River Capital. He also shines the Small Business Spotlight on voice actor Chris Griesemer.
 

Lighting Revolutionary Chuck Swoboda, helps us understand what to look for if you want a team of innovators.

AFTER SUCCESSFULLY HELPING TO LEAD THE L.E.D LIGHTING REVOLUTION, TRANSFORMING CREE FROM A START-UP TO A GLOBAL MARKET LEADER, CHUCK SWOBODA, KNOWS WHAT IT TAKES TO CREATE AND INNOVATE.

I think people that want to be innovators or entrepreneurs, they really need to have a mindset that allows them to do things that most of us are trained not to do. They need to be not afraid of failure,

Marketing Professor Dr. Lora Tu explains the power of nine - ending pricing and how that affects a buyer's perception.  

RESEARCH HAS PROVEN THE BOTTOM-LINE VALUE OF NINE-ENDING PRICING AND ITS POWER TO BOOST RETAIL SALES.  DROPPING A PRICE JUST A SINGLE PENNY GIVES BUYERS THE SENSE 

The best designs are difficult to forget if they tap into the viewer's imagination.

On this episode of Downtown Depot, host Austin Meek is joined by Kelly Harp, co-owner and designer of Harp Design Co. Kelly lays out the long road that brought her and her husband Clint back to Waco, the beginnings of their partnership with Chip and Joanna Gaines, and how she deals with managing her burgeoning public persona. Meek also shines the Small Business Spotlight on Danea Anderson of Waco Haunted Houses. 

Social media has become the most important way for consumers to solicit and receive customer service from a brand. It can either make or break a business.

SOCIAL MEDIA IS NOW THE NUMBER ONE WAY CONSUMERS REACH OUT FOR CUSTOMER SERVICE.  SOCIAL MEDIA STRATEGIST NICOLLE SOTO (SOH-toh) SPECIALIZES IN HELPING SMALL BUSINESSES ENGAGE WITH CONSUMERS ONLINE.

Social media engagement is important because it gives you direct insight into what your audience

There's one question you should be asking yourself each day. In this episode of Business Review, Tom Corley, speaker and author of Rich Habits, explains what this question is and how it drives success. 

THERE’S AN IMPORTANT, DRIVING QUESTION YOU SHOULD BE ASKING YOURSELF. AUTHORITY ON HABITS AND WEALTH CREATION, TOM CORELY, EXPLAINS WHAT THIS QUESTION IS, AND WHY IT WILL STEER YOU TOWARD SUCCESS.

Most successful people, especially entrepreneurs, they have a vision of their future selves and their future lives. A vision actually gives you a clear idea of where you want to go and who you want to be. Your vision,