How can local corporations and local small businesses in Mill Basin collaborate to make the community more successful?<\/p>\n\n\n\n
Merisa Quick<\/p>\n\n\n\n
Borough of Manhattan Community College<\/p>\n\n\n\n
SBE 400: Small Business Management<\/p>\n\n\n\n
Dr. Roderick Shane Snipes<\/p>\n\n\n\n
4\/28\/2023<\/p>\n\n\n\n
Introduction:<\/p>\n\n\n\n
In the Mill Basin area of Brooklyn, NY, there are a multitude of businesses and corporations. All looking at each other as competition. Although, they are all \u201cthriving\u201d in their own way. The economy of the present day withholds their potential. When asked, the managers of the corporations and the owners of the small businesses felt like they were doing the best that they could do. That by raising the pricing accordingly they will be able to keep doing well. While this may be somewhat true, this method will only last for but so long. Since these businesses and corporations believe that they have it all figured out. I challenged them to see how much better their business could do if they collaborated with other local businesses.<\/p>\n\n\n\n
The objective of this research was to see if collaboration can be a powerful way for businesses to increase their success in order to better the community. While getting the managers and business owners to agree was hard due to the sharing of confidential information. They did in fact agree to compromise by doing an interview to state how much of a difference the collaborations that they made improved their business and the community worked.<\/p>\n\n\n\n
Since it was important for them to keep financial information, personnel information, customer data, and future business plans private to protect their businesses and corporations by avoiding legal troubles, damage to their reputations, and financial losses (if any may occur). The results of how much more well each business did was not easily accumulated either.<\/p>\n\n\n\n
In spite of the fact that they were also worried about competitive advantage, knowing that there<\/p>\n\n\n\n
were things their business or corporation lacked. Each business took important note that their collaboration for this research did not guarantee that one business or corporation will do better than another. That the success of this collaboration was for the benefit of its\u2019 community members. In addition, the success of this research would depend on the factors of co-marketing, co-creation, strategic alliances, and the goals of each business\/corporation.<\/p>\n\n\n\n
The local corporation I chose was a car dealership and the local small business of my choice was a deli that is about three (3) doors down from the car dealership. While it was a process to get a manager of the car dealership to speak with me, I was finally able to get Porscha to assist me with the research project. As for the deli I was able to interview Shemar. They both gave me as much time and information as they could. I went back to each location twice. Once to gather any information needed for the project and another where I was able to share my findings with each of them.<\/p>\n\n\n\n
Method:<\/p>\n\n\n\n
My research methodology was a semi-structured interview style. Where I had key questions written down. Since the local managers and small business owners had limited time. I had to make this process as short and sweet as possible. Making certain I got all the information I needed for my research. I was also able to do a SWOT analysis on the business and corporation to understand each of their advantages and disadvantages. Consequently, highlighting which local corporation would be well collaborated with what local small business. Gaining this insight improved understanding why some of them were struggling. Regardless of how well they believed they were doing.<\/p>\n\n\n\n
Diving deeper into the research, I found that the collaboration of these businesses and corporations can strengthen the community by increasing job opportunities, bettering the economic scales, and increasing the revenue in the community. This in turn can improve infrastructure for the community, create more charitable efforts for the community, and create a new business venture or permanent merger. With the responses gained from the manager and business owners, I was able to align their values and goals with each other.<\/p>\n\n\n\n
I appreciated the managers and business owners for using action research to actively collaborate effectively for this research project to work. As I went to the local corporation and the local small business owner for the interview process, I wrote down the feedback that was given to me. Noting their concern and honest interest in helping. In the process, they also had a few questions that were proficient. Overall, these collaborations helped these businesses achieve their goals while also helping the community.<\/p>\n\n\n\n
To begin my research, I started with a SWOT analysis with the car dealership and the deli. Then deciphered the advantages and disadvantages of each. This assisted in making sure that they can collaborate well to benefit the community. While location is a given strength, the fact that they will attract different demographics is also an advantage. Cross promotion between the car dealership and the deli will work for the benefit of convenience. Customers shopping for a car will be able to get a quick bite to eat or something to drink while they are waiting for their car to be serviced or while in the process of making a purchase as car deals take up a good portion of the day.<\/p>\n\n\n\n
This could assist in making the car dealership look more catering to its\u2019 customers\u2019 needs since they do not have any vending machines or complement areas in their location. Having somewhere to<\/p>\n\n\n\n
get a snack will make their experience more pleasant. Another benefit of the collaboration would be that the deli can provide catering services for the dealership. The deli can produce food, drinks and snacks for dealership launches, events, and promotional activities. This will be a unique selling point for the dealership and the deli will gain a new audience for their food services.<\/p>\n\n\n\n
These cross promotional activities will benefit the community by creating jobs for the dealership and the deli. They will both need a \u201chelping hand\u201d to effectively cater to each customer. The deli will need help to provide a significant amount of food for each event, launch, or promotional activity. Giving the need of food handlers and cooks. While the dealership will need assistance in sharing the food, drinks, and snacks to the individuals attending. Giving the need of servers and bartenders. Which could help to stimulate economic growth and reduce unemployment.<\/p>\n\n\n\n
The strategic alliance between the deli and car dealership could potentially boost sales for both parties. Which in turn would afford the ability to have more charitable events. Creating a safe space for people to volunteer for hosted events. As the deli is known for its fresh food, having a specific day where they share food with the community will help a lot of families in need. While also eliminating the waste of the produce that they do not sell. The dealership can assist with space since it does take up most of the block. They may clear out the parking lot for use and have activities or entertainment for the community while there. Raising awareness for both businesses and supplying a fun engaging experience for the community.<\/p>\n\n\n\n
Another way co-marketing is a fantastic way to advertise and benefit the community, is by offering a coupon or discount voucher to customers of the car dealership to use at the deli, it creates an incentive that can potentially make customers spend more money when visiting both locations.<\/p>\n\n\n\n
Adapting a loyalty program for frequent customers of both the deli and car dealership, gives them a complimentary item for their frequent purchases. Offering a \u201cThank You\u201d gift such as a gift bag with dealership items in collaboration with a free sandwich and drink from the deli, for customers who purchase a car, is a great way to encourage business for both places.<\/p>\n\n\n\n
In addition to showing gratitude, co-marketing is a wonderful way to support the local community because it builds a strong partnership that benefits everyone. Word of mouth is the best and most effective way to gain. Once advertised, the co-marketing will increase foot traffic and will also help to revitalize the local community by bringing more people to the area. Filling the \u201cgap\u201d in economic scales. By doing this the deli can keep pricing at a respectable level. Benefiting the residents of Mill Basin and more.<\/p>\n\n\n\n
Interviews:<\/p>\n\n\n\n
My first interview was with the corporation manager for the car dealership Porscha. She was kind enough to give me her phone number for any further questions or clarification. After the formalities of thanking her for taking the time out to assist me in my research project the written interview went as followed:<\/p>\n\n\n\n
Merisa: How long have you been in the car dealership business?<\/p>\n\n\n\n
Porscha: I\u2019ve been in car sales for about 11 years now. I started when I was 23 years old. My first dealership was in Long Island. I migrated to Brooklyn 3 years ago when that dealership location expanded.<\/p>\n\n\n\n
Merisa: Of those 11 years, how long have you been a manger for the dealership?<\/p>\n\n\n\n
Porscha: I\u2019ve been a car sales manager for 3 years now. The promotion came with the change of location.<\/p>\n\n\n\n
Merisa: That\u2019s great congratulations. So, with the proposal of collaborating with the deli a few doors down. How well do you believe this collaboration will benefit both the community and the dealership?<\/p>\n\n\n\n
Porscha: Thank you, well to be honest I have no idea. This is a very unorthodox paring. When you first came to me about the whole thing, I was very unsure. We usually use the deli for personal use but there\u2019s a lot of other places around that we order from also.<\/p>\n\n\n\n
Merisa: Understandable. With you being one of the managers here, would you be overseeing this collaboration, or would you appoint someone else to manage the key milestones of this process?<\/p>\n\n\n\n
Porscha: I will have to hire an assistant to help manage the collaboration\u2019s milestones.<\/p>\n\n\n\n
Merisa: How do you feel the collaboration will affect the corporation?<\/p>\n\n\n\n
Porscha: Hopefully, it makes the customers happy and builds our clientele. Although we\u2019re in a big location, we don\u2019t have many benefits for customers. A good portion of our surveys state that we don\u2019t accommodate them with things such as water or snacks. Whereas other locations and dealerships have tea and coffee stations for their customers.<\/p>\n\n\n\n
Merisa: What do you feel some of the risks or potential challenges could be with this collaboration?<\/p>\n\n\n\n
Porscha: Some potential challenges can be our cultural differences. Although, we get along now as two different businesses, that\u2019s just what we are. Everyone goes to the local deli for their needs, but no one has ever worked with them. If they\u2019re willing to collaborate and benefit from it as well as<\/p>\n\n\n\n
help the community then it\u2019ll work out fine. The only risk would be that collaboration not happening at all.<\/p>\n\n\n\n
Merisa: What are some legalities that should be considered if collaborated?<\/p>\n\n\n\n
Porscha: In short, we would just have to make sure that everything is done to keep things fair and beneficial to all. By just remembering the bigger purpose of the collaboration.<\/p>\n\n\n\n
I then thanked Porscha again for her insight and moved onto interviewing Shemar, the deli\u2019s owner. As I did with the first interview, I thanked Shemar for taking the time to speak with me. As I was asking Shemar questions, we did pause a few times so that he could assist customers. This made me realize that even though the local residents patronized the store, there wasn\u2019t a lot of traffic. I came to this conclusion because of the way Shemar interacted with each customer. He knew them on a first name or nickname basis. As of them with him.<\/p>\n\n\n\n
Merisa: How long has this store been at this location?<\/p>\n\n\n\n
Shemar: I\u2019ve had my store here for 5 years now.<\/p>\n\n\n\n
Merisa: What would you say your professional relationship with your customers is like?<\/p>\n\n\n\n
Shemar: They\u2019re all like family. I see a lot of them growing up, the school kids that come in before and after school. The people in the neighborhood come for breakfast and lunch. We\u2019re all good.<\/p>\n\n\n\n
Merisa: How do you believe this potential collaboration will help the community?<\/p>\n\n\n\n
Shemar: Well, I\u2019m not sure but I\u2019m willing to try it out to help. This community is what helps make the store what it is. So, if I can help too then why not?<\/p>\n\n\n\n
Merisa: How will the collaboration impact the industry structure and competition of the<\/p>\n\n\n\n
community?<\/p>\n\n\n\n
Shemar: There\u2019s a lot of places people could get food from around here. There\u2019s a lot of business because it\u2019s a busy area. But I know that I\u2019m a people person, so they\u2019ll get good food, good laughs, and will leave happy. And if they\u2019re ever at the dealership I know they\u2019ll always come back again. So, it\u2019ll be good for me and the dealership.<\/p>\n\n\n\n
Merisa: What do you feel some of the risks or potential challenges could be with this collaboration?<\/p>\n\n\n\n
Shemar: The collaboration could be risky if it\u2019s a super busy day at the dealership. Because it\u2019s only me and my nephew here each day. We would need help to make sure we can cater to all the customers.<\/p>\n\n\n\n
Merisa: How do you feel this collaboration will impact the employees, customers, and suppliers?<\/p>\n\n\n\n
Shemar: Well, my nephew would be happy (Shemar chuckled), he would have helped. The customers would be happy too because they know they won\u2019t have to wait long to get what they came for. And I\u2019ll make them laugh while they are here. My supplier would be the happiest because I\u2019ll be giving them more business. More customers mean more money.<\/p>\n\n\n\n
Merisa: How do you believe the cultural differences between you and the dealership managers will be managed throughout the collaboration?<\/p>\n\n\n\n
Shemar: I believe that we\u2019re all human and business owners. We will be able to work together fine. As long as we respect eachother and treat each other good there shouldn\u2019t be any problems. We come together to help each other and the community.<\/p>\n\n\n\n
When I was about to conclude the interview Shemar asked me a question that caught me off guard. Shemar: How do you think we can help each other help the community?<\/p>\n\n\n\n
Merisa: While doing this research I\u2019ve found many ways that you all can effectively help the community. It would just be up to you both to actually come together and make the change happen.<\/p>\n\n\n\n
Results:<\/p>\n\n\n\n
By the conclusion of my interviews and method research, I\u2019ve noted that the collaboration between the local deli and the local car dealership was a good pair. They both fulfilled what each other lacked. The deli needed more customers and the dealership needed to be more appealing to its customers both benefited from collaborating to benefit the community. Coming together allowed them to become closer and generate more revenue in the community. When research the employment and income rate of Mill Basin was as follows:<\/p>\n\n\n\n
What are the employment statistics in Mill Basin?<\/p>\n\n\n\n
White-collar workers make up 84.87% of the working population in Mill Basin, while blue-collar employees account for 15.13%. There are also 3,834 entrepreneurs in Mill Basin (8.84% of the workforce); 25,900 workers employed in private companies (59.74%); and 9,567 people working in governmental institutions (22.07%).<\/p>\n\n\n\n White Collar 84.87%<\/p>\n\n\n\n Blue Collar 15.13%<\/p>\n\n\n\n Self-Employees 8.84%<\/p>\n\n\n\n Private Companies 59.74%<\/p>\n\n\n\n Governmental Workers 22.07%<\/p>\n\n\n\n Not for Profit Companies 9.35%<\/p>\n\n\n\n What are the median and average incomes in Mill Basin?<\/p>\n\n\n\n The average annual household income in Mill Basin is $115,779, while the median household income sits at $86,185 per year. Residents aged 25 to 44 earn $97,088, while those between 45 and 64 years old have a median wage of $108,970. In contrast, people younger than 25 and those older than 65 earn less, at $30,785 and $55,635, respectively.<\/p>\n\n\n\n Given the information above it is safe to say that the collaboration will benefit the community more. As they would both have to hire people for a variety of new jobs. Evaluating the community, its needs, and preferences, developed relevant solutions. This approach can help the community to bring in permanent change. The collaboration could lead to lowering pricing for the community of Mill Basin which will let them have an increase in income. While also increasing tax revenue for the local community. An increase in tax revenue will help fund public services for the community\u2019s schools, parks, and public transportation. Increased revenue also means improved infrastructure. As the government will then fund construction of new roads and community centers. Giving people of the community a safe space to volunteer in.<\/p>\n\n\n\n Report Back:<\/p>\n\n\n\n When presenting my findings to Porscha and Shemar, they both seemed in awe. The fact that I was able to present to them a real solution to how the collaboration would work and benefit them both while still benefiting the community was outstanding. Their feedback was incredibly positive as they both are willing to put this plan into action, unfortunately Porscha is not the owner of the dealership and would have to get clearance for the collaboration to come to life.<\/p>\n\n\n\n Bibliography:<\/p>\n\n\n\n<\/td> Y-o-Y Change<\/td><\/tr> White Collar<\/td> 36,797<\/td> 2.9%<\/td><\/tr> Blue Collar<\/td> 6,560<\/td> 7.4%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n <\/td> Y-o-Y Change<\/td><\/tr> Self-Employees<\/td> 3,834<\/td> 13.6%<\/td><\/tr> Private Companies<\/td> 25,900<\/td> 3.6%<\/td><\/tr> Governmental Workers<\/td> 9,567<\/td> -1.5%<\/td><\/tr> Not for Profit Companies<\/td> 4,056<\/td> 7.1%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n <\/td> Y-o-Y Change<\/td><\/tr> Average Household Income<\/td> $115,779<\/td> 5.4%<\/td><\/tr> Median Household Income<\/td> $86,185<\/td> 2.5%<\/td><\/tr> People below Poverty Level<\/td> 7,724<\/td> 9.9%<\/td><\/tr> People above Poverty Level<\/td> 85,607<\/td> 3.9%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n