Business Up Front - December 2002

Business Up Front

Job Interviews for Dummies

Job seekers typically research what they should do during an interview. But knowing what not to do is an equally valuable lesson. OfficeTeam, a staffing service specializing in administrative professionals, asked executives to name the strangest things they had recalled happening in a job interview, and the results show many job seekers could benefit from a refresher course in interview basics.

When asked why he wanted to work for the company, the applicant responded, "That’s a good question. I really haven’t given it much thought."

When told she would meet with another interviewer, the candidate said, "Wait just a minute." She then took out a large bag from her briefcase and proceeded to reapply her makeup and hairspray in the first interviewer’s office.

When asked by the hiring manager why she was leaving her current job, the applicant said, "My manager is a jerk. All managers are jerks."

The candidate disparaged his former boss during the interview, not realizing the boss and the interviewer had the same last name, and were related.

After being complimented on his choice of college and the GPA he achieved, the candidate replied, "I’m glad that got your attention. I didn’t really go there."

The candidate asked for an early morning interview. He showed up with a box of doughnuts and ate them during the meeting, saying this was the only time he’d have to eat breakfast before going to work.

When asked by the hiring manager if he had any questions for him, the candidate replied by telling a knock-knock joke.

When asked by the manager about his goals, the job seeker said, "To work in this position for the least amount of time possible until I can get your job."

Minorities Want Their Own Businesses

Some 10 million American adults are involved in the process of starting nearly six million potential new businesses at any one time, with African Americans 50 percent more likely to start a business than whites, according to a report released in September. The Panel Study of Entrepreneurial Dynamics (PSED) finds African American men with graduate experience between the ages of 25 and 35 are the most actively engaged population starting new businesses in the U.S. today. Hispanic men are 20 percent more likely than white men to be involved with start-up ventures. Funded with grants from the Ewing Marion Kauffman Foundation, the National Science Foundation and 33 member institutions, findings of the study were announced at the opening of the U.S. Minority Business Development Agency’s national Minority Enterprise Development (MED) Week conference in Washington, D.C.

The ongoing study tracks emerging entrepreneurs as they progress through the entrepreneurial process and reveals that attempts at new business formation are more widespread than previously disclosed and involve all racial and ethnic groups. Among the key findings:

• Approximately 10.1 million adults in the U.S. are attempting to create a new business at any given time.

• With nearly one half of all new ventures started by teams of people, this represents about 5.6 million potential new businesses.

• Men are twice as likely to be in the process of starting new businesses as women; young men ages 25-34 are the most active.

• African American women have a higher propensity for entrepreneurship than white or Hispanic women, who are about equally as likely to attempt to start a business.

• Education significantly predicts who will start up a business, particularly for African Americans and Hispanics. Approximately 26 of every 100 African American men and 20 of every 100 Hispanic men with graduate education experience report efforts to start a new business. This compares to 10 of every 100 white men with graduate education experience.
  

For more information about the study and to download the report, visit emkf.org.

Study Confirms Popularity of Cell Phones

Despite the fact that the average price of a wireless phone call continues to drop, there are fewer first-time consumers subscribing to wireless services than in the past, according to the J.D. Power and Associates 2002 U.S. Wireless Industry Services Study released this fall. The study found 56 percent of households in the 27 largest U.S. markets surveyed use wireless phone service, representing a 107 percent household penetration increase over 1995 – an average increase of 11 percent per year. However, the growth rate is slowing. Between 2001 and 2002, the overall growth rate fell to 7.6 percent, while future penetration rates are predicted to show continued slowing as the market approaches a saturation point.

"It's imperative that wireless service providers start concentrating on retention strategies as the ability to expand the customer base becomes more difficult," said Kirk Parsons, senior director of wireless services at J.D. Power and Associates. "The average reported cost per minute has dropped from 56 cents in 1995 to 11 cents today, making it difficult for providers to generate the same amount of revenue per customer they once received. With the cost of acquiring each new customer ranging between $300 to $425, wireless providers must make a serious effort to retain customers with
loyalty programs and superior service."

Nevada Ranks As Top State For Health Clubs

The International Health, Racquet & Sportsclub Association (IHRSA) recently announced the 25 U.S. states and 24 U.S. metropolitan areas with the highest rates of health club membership, according to data collected in the 2001 Health Club Trend Report. Nevada tied with South Dakota as the top state, with a projected 18.5 percent of state residents (over the age of six) belonging to a health club or fitness center. The national study also ranked Las Vegas fifth in the country, with 18 percent of residents being members of health clubs. The top 10 states and cities are listed here:

According to the study, U.S. health club members visited their clubs and gyms an average of 93 days during 2001, a 29 percent increase since 1987, which is a record high level of attendance. The report also found the number people who logged 100 or more days per year at their gyms reached a record 13.9 million members in 2001, representing a more than 160 percent increase since 1987.

"We project that health club membership will reach 50 million members in the U.S., and a total of 100 million worldwide, by the year 2010," said John McCarthy, executive director of IHRSA. "Clubs increasingly provide programs and services that appeal to people from all walks of life and cater to members with diverse fitness backgrounds. We absolutely expect membership to continue this growth trend through the next decade."