Tag Archives: business

Hewlett Packard to Cut 5,000 Jobs

Hewlett Packard/HP has decided to slash 10% of it’s workforce despite third quarter results that surprised Wall Street. HPE will release 5,000 people by the end of the year according to a Bloomberg report.

The cost-saving move made by CEO Meg Whitman, was to shed under-performing divisions and focus on services devoted to artificial intelligence.

CEO of Hewlett Packard (HP), Meg Whitman – Photo from The Drum

Only four years after taking the CEO job, Whitman has split HPE into two divisions: printers and PC’s (HP) and servers and storage(HPE), each worth $50 billion. HPE has had to play catch up with Amazon and Google in the cloud storage competition. Recently, Whitman’s commitment to HPE was in question when her name came up in the discussions for Uber’s  CEO job.

Whitman has stated that Uber was not a fit for her and had nothing to do with her situation at HPE.

HPE stock has gone up 3% this year and another 0.6% this week after the announcement, but that is lagging compared to the Nasdaq 100’s 21% gain this year.  Whitman has been with HPE for six years and will be with them as long as she wants to be.  She stated, “We have a very special opportunity here and we have plenty of work to do.”

 

 

Instagram took one more step in becoming Facebook

On March 15, Instagram released a statement telling its subscribers that they will be updating their newsfeed, making it non-chronological, similar to the way Facebook is set up. The way they organize the posts will depend on a variety of factors including the number of post engagements, and other social signals.

Instagram will also take into consideration the posts that you have previously liked in an attempt to find the correct images that are relevant and will interest the subscriber the most.

Instagram is evolving into Facebook. Graphic from Instagram Takipci Satin Al
Instagram is evolving into Facebook. Graphic from Instagram Takipci Satin Al

Since Instagram’s initial launch in 2010, their success has skyrocketed. They started out as, simply, an app used for teens to share the photos and socialize with each other. At the time, Facebook bought Instagram for 1 billion dollars, which in hindsight, was an incredible deal because Instagram is estimated to make 1.86 billion dollars in revenue just this year, thanks to its users constant social networking usage.

Although Instagram is attempting to update its aesthetic for the benefit of the user, there have been thousands of complaints. The users even created a petition on Change.org begging Instagram to leave the newsfeed alone. Most people complained because they didn’t want Instagram to look like Facebook, as well as the fact that Facebook is well-known for discriminating business pages’ content and their inability for users to reach posts. Instagram, on the other hand, is notorious for their chronological order and an unlimited reach of posts.

There is an argument, however, that the chronological newsfeeds are only effective when businesses post on Instagram every half hour and when their followers have very limited number of people that they follow. According to Optical Cortex data “based on 20,000+ Instagram users, average number of people they follow is 822.” This suggests that chronological order doesn’t matter anyway because the brands said users follow probably weren’t the first things they saw.

The change in newsfeed might be beneficial. If you post amazing pictures, your followers will see it even if it was posted hours ago.

“Instagram user survey indicated that 60% of Instagrammers learn about products and services on the network and 75% take action after being inspired by an Instagram post.” So all you have to do is be clever, be active, and post away!

Majors that allow you to be creative AND make money

We’ve all heard the story about the distant cousin who majored in Art and is now a starving painter living in a shoebox somewhere.

Choosing a major seems simple- choose something you can tolerate that will make you money. After all, how many people do you know that are truly passionate about finance? This doesn’t have to be the case, however. There are many careers out there that utilize creativity while also allowing you to live comfortably.

Here are just a few, offered here at Radford:

1. Media Studies: Advertising

Average salary for Creative Copywriters- $61,000 (with the ability to move up in the ranks and earn more)

Many people get Advertising confused with Marketing. While Marketing does require a certain amount of creativity, Advertising  works more with the nitty gritty aspects of introducing a product to the general public. While there are many jobs in the Advertising field, the most creative position is that of a Creative Copywriter (or Advertising Copywriter) . Creative Copywriters are in charge of designing the story-boards for marketing campaigns such as commercials. Every one of your favorite commercials started out as simply an idea in someone’s head. That person could be you one day!

Other careers for Advertising majors include Media Planning and Buying, Researching, and Account Managing. Senior positions in all areas can make well into the triple digits depending on the company and location.

2. Media Studies: Journalism

Average salary for Journalists: $49,000

Pinpointing the average salary for a journalist can be pretty tough considering how broad of a field journalism really is. As a journalist, you could work as an on-air reporter, a talk show host, a writer for a newspaper, or even just work freelance (sell your articles to newspapers, magazines, etc.) Because of this, pay obviously fluctuates. That being said, a career in journalism can be extremely rewarding both financially and otherwise.

3. Art: Graphic Design

Average salary for Graphic Designers: $53,000

The Graphic Design field has rapidly expanded over the past few years, causing it to become a pretty lucrative career path. Graphic Designers can work with any company from advertising agencies to magazine publications because so many businesses require their services nowadays. Graphic Designers may be asked to design logos, web page layouts, and book covers- the possibilities are endless!

4. Music: Music Business

Average salary: varied

If you love music, but don’t want to be the main act, this major may be the one for you. Careers in the music industry range from Managers to Booking Agents and Concert Promoters to Music Accountants. Depending on the success of either the record label you work for or the act you represent, you could either make peanuts or crazy good money. The job that pays the most consistently is that of an Entertainment (Music) Attorney. Entertainment Attorneys handle all the legal matters of the music business and can make anywhere from $70,000 to $150,000 a year. These jobs are pretty abundant considering the fact that every artist and record label needs lawyers. The one drawback would be that after completing the Music Business undergrad degree, law school would be a necessity. Other jobs such as Managers, who represent the musical talent, get their earnings solely from commission so they’re only as successful as their acts. Music Business Accountants handle musicians’ and labels’ financial needs and make salaries ranging from $40,370 to $113,740. While finding a job in the music industry might be a little harder than some other fields, working so close with something you love and having the opportunity to get rich doing it is something that you simply can’t pass up.

5. Design: Fashion Design

Average salary: $73,570

You may not get that dream job in Paris, however, every retail clothing store needs fashion designers. Most people shy away from this field because it seems so cut-throat. While competitive, it’s certainly not impossible to break into the fashion business as long as you’re willing to start at the bottom and work your way up. So if designing cute clothes is your passion and you’re willing to work hard to reach your goals, switch your major as soon as possible.

You should be able to wake up every day and be excited to go to work. If a creative degree draws you in, don’t push it away simply because your family thinks you’d be more successful as a business student. There are ways to make a good salary in most fields, so choose what you love and not what you can merely tolerate.

 

Making money with your art degree. Graphic by Katie Gibson
Making money with your art degree. Graphic by Katie Gibson

$45 Time Machine

Almost everyone is looking for the one thing that will act as a time machine to transport them back to their childhood. For many people that time machine comes in the form of a Super Nintendo, Nintendo 64, Atari or PlayStation. In a world dominated by the Xbox One and the PlayStation Four, the simplicity and nostalgia that these vintage systems bring to the player is priceless.

Radford University junior and business finance major Taylor Easter has turned his passion for retro games into a fairly lucrative small business. Taylor began his business while working on expanding his own game collection. While scouring yard sales and pawnshops, he’d often come across fairly priced duplicates of games that he already had. He began selling these in order to turn a profit, thus beginning Taylor’s Retro Games. Realizing what a gold mine the gaming industry could be, Taylor began setting up shop, even obtaining a table at a video game convention (during which he made enough money to pay off his car).

Taylor's Retro Games! Graphic by McKenzie Gibbons
Taylor’s Retro Games! Graphic by McKenzie Gibbons

Taylor’s strategy is easy to follow. Before going out and buying merchandise, he checks the prices of games on websites such as Amazon and eBay. “I try not to make purchases unless I’m paying 1/3 of its value so I can triple my money,” Taylor says.

Currently Taylor has many consoles in stock, including the Nintendo 64, PlayStation One and Two, Atari, Intellivision, and Sega Dreamcast and Genesis, in addition to some handheld systems. His game inventory includes fan favorites like Super Mario and Pokémon.

So how do Taylor’s prices stack up against big name companies selling the same merchandise?

DKOldies is currently selling a Nintendo 64 for a whopping $74.99, while the slightly more honestly priced Luckie Games is selling one for $61.64. Taylor’s price is a far more reasonable $45. The fact that Taylor has found a way to spend money to make money, and still be able to sell his merchandise at completely respectable prices, says a lot about his character and savvy business skills.

While business is booming now, Taylor imagines that his gaming business will take a backseat once he graduates from RU, becoming more of a hobby than an income. Those desperately searching for a piece of their childhood to buy back at a fair price should make their purchases while Taylor’s Retro Games is still operating.

To contact Taylor, simply e-mail him at taylorsretrogames@gmail.com. For those looking for a game that he doesn’t have in stock, Taylor takes requests and will keep his eye out for the games you desire.

The new College of Business and Economics building

The new College of Business and Economics building, also known as the COBE, was completed in time for the first Fall classes this semester.  It sits at the top of Radford’s campus and is the first campus building seen by students and visitors upon arriving to campus. This photo essay includes photos of the building’s exterior and interior. Continue reading The new College of Business and Economics building