What Exactly is the “Target Effect”? NYU Stern Prof Looks Deeper – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Why It’s So Hard To Buy “Just One Thing” At Target – Refinery29
Speaking with Refinery29 writer Cait Munro, New York University’s Stern School of Business marketing professor Tom Meyvis elaborated why consumers have such a strong impulse to buy more things than they intended when shopping at a big-box store.
“Stores have an idea about the path [shoppers take],” he says in an interview. “Walmart was once famous for doing things like putting like Band-Aids next to fishing hooks and things like that. Something you don’t naturally associate, but once you see them there, it makes sense. So when people come in for something in one category, you can cross-sell, you can sell them something that compliments in the next product category by making sure they’re right next to each other.”
What is the so-called “Target Effect” that makes people buy more products than they intend to?
“Meyvis also notes that stores like Target have extensive data on which products customers typically buy together, and they’ll often employ those numbers to decide what should go where within the store’s layout. Some are obvious, like placing flip flops next to sunscreen, while others are so subtle that you might not even notice what’s going on when you pick up hot sauce and Pepto Bismol in the same motion.”
You can read more of Munro’s piece with Refinery29 here.
A Masters in Governmental Accounting? Five Reasons It’s Time to Make the Investment – Rutgers Business School Blog
Offered completely online, the Rutgers Business School Master of Accountancy in Governmental Accounting program may be perfect for working professionals “in the field of public financial management or transition to the public sector from private industry.” The school outlines five the biggest reasons why you may need to consider it, too:
- Opportunities – Projections indicates that there will be governmental vacancies galore due to the fact that “nearly a third of the government workforce will qualify for retirement.”
- More than just numbers – The interdisciplinary degree combines “public policy, public administration, ethics, government accounting, and auditing.”
- Quality instruction – Instructors include former New Jersey State Auditor Rick Fair and Dean Michael Mead, senior research manager at the Governmental Accounting Standards Board.
- Valuable connections – Rutgers “works hard to build connections with local, state and federal employers who can provide job opportunities and advancement to students and graduates.”
- Uniquely accessible – The online program means “you can benefit from the quality of instruction and the Rutgers connections … no matter where you are.”
You can read more about the RBS program here.
5G mobile Communication in China: From Imitator to Innovator – Johnson Business Feed
Baohong Li, an Associate Professor at the School of Economics and Management at the Beijing University of Posts and Telecommunications, and visiting scholar at the Emerging Marketing Institute, recently wrote a piece for the Cornell Johnson Businessfeed, in which they discussed China’s incredibly rapid mobile technology advancement and the future of 5G connectivity.
Specifically, Li laid out five reasons why China has an vastly important role in the implementation of 5G, including:
- Institutional innovation and reform
- Strategic planning and policy innovation
- Imitating innovation and gaining advantage
- Encouraging patent and international standardization
- Creating co-opetition innovation ecosystem
Click here for a more in-depth review of Li’s work.
Mount Saint Mary’s MBAs Head to China, and More – Los Angeles News
We’ve rounded up some of the top stories coming out of Los Angeles metro area business schools this week.
Business Trip to China – Mount Saint Mary’s Newsroom
MBA students at the Mount Saint Mary’s University, Los Angeles recently took a nine-day trip to China as part of their studies in global business. Gannan University, a sister school of Mount Saint Mary’s, recently hosted the students in their third semester in the MBA program.
The trip, which was led by alumna and associate professor Katherine Whitman, included visits to several companies and the opportunity to take a deeper look into the country’s business operations. Students got the chance to go inside the factory of a joint Canadian-Chinese venture in auto transmissions, the research and development labs of a pharmaceutical company and more. And thankfully, even this business trip wasn’t all business- students had the chance for several cultural excursions and a final stop in one of the world’s largest financial centers, Hong Kong.
Read more about the Mount St. Mary’s MBA trip to China and their immersive global business education here.
Why Would a Former Investment Banker Want to Run Los Angeles Schools?– Marketplace.org
Austin Beutner, a former investment banker and past deputy mayor of Los Angeles, has recently been appointed as superintendent for the Los Angeles Unified School district. The second largest school district in the country, the LAUSD currently includes more than 640,000 students in schools across southern California. This week, Beutner was interviewed by Marketplace to discuss his change from business to education, and how this could inform the way he leads the district.
“Schools don’t have a bottom line, but that doesn’t mean you can’t measure and hold accountable,” Beutner said, examining the differences between various environments. “It doesn’t mean you can’t make sure your workforce is well trained and have the tools they need to succeed.” According to Beutner, many of the same skills learned in business are applicable to running a school district, helping provide him with the background necessary to work towards closing the opportunity gap and better serve the needs of the kids. “… part of the challenge is going to be to have to make sure that where we are investing resources today reflects the mission of the organization,” Beutner commented in the interview, “which is to help every child achieve, and reflects the values of the community it serves.”
To read more of Beutner’s interview with Marketplace, click here.
Graduate Students Participate in University’s Inaugural Three Minute Thesis Competition for Cash Prize and Bragging Rights – Chapman University Newsroom
An MBA student at Argyros School of Business Chapman University recently took first prize in the annual Three Minute Thesis Competition (3MT), among fourteen other Chapman graduate students across six colleges. The competition, which began ten years ago in Queensland, Australia, has today become an annual competition taking place at more than 200 universities across the globe. The competition forces students to think about their research in a way that can be fun and engaging for audiences outside of their field. Student presentations were judged based on effective communication, visuals, timing and delivery.
Chapman Argyros MBA Rowena Zahn, ’18 / Photo via blogs.chapman.edu
The first place winner was Rowena Zahn (MBA, Food Science ’18), who was awarded with $1,000. Zahn’s research, “Optimization of DNA-based methods to identify elasmobranch species in shark cartilage pills,” attempts to identify the species of shark used in dietary supplements (which often use shark cartilage for its anti-inflammatory effects) in order to identify mislabeled or vulnerable species in the pills.
You can read more about Zahn’s research and the 3MT competition here.
New York City’s Work/Life Balance Problems, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York City business schools this week.
Would You Like Your Boss to be Fined for Making You Reply to Emails? – NBC News
Lehigh University College of Business and Economics management professor Liuba Belkin’s work was recently cited by NBC News regarding a potential new NYC law that would effectively ban workers from being forced to reply to after-hours emails and other messages. The reason behind the proposed law is that the increasingly common practice in the U.S. is decreasing work-life quality, which was a provincial point of Belin and co-author William J. Becker’s study “Exhausted, but Unable to Disconnect: After-Hours Email, Work-Family Balance and Identification.”
The potential new law would not effectively ban those from sending messages after hours, but being forced to work off-the-clock would be subject to a fine of around $500 for each offense. France, NBC News writes, passed a similar law in 2017 “requiring businesses with 50 or more employees to negotiate after-hours email rules with workers, potentially allowing them to ignore post-work correspondence.”
Human resources manager Steve Wang thinks the lofty comparison to France’s work culture is not as easy in the U.S. The country has stricter labor laws, instituting 35 hour max work weeks, and a law preventing people from working 4.5 hours straight without any breaks, for instance.
Click here to read more about the law and Belin’s study.
What are the Best Healthcare MBAs You Can Find in New York City? – MetroMBA
Four of the best health care MBA programs reside in New York; three of which fall right inside the five boroughs. Columbia Business School, the Zicklin School of Business at Baruch College, the Stern School of Business at NYU, and the SC Johnson Graduate School of Management at Cornell in Ithaca each offer exemplary healthcare management learning options for any hopeful MBAs, some of which are coupled with dual degrees.
Zicklin’s Executive MBA in Healthcare Administration is one of the few programs in the New York metro that has both AACSB and CAHME accreditation.
Find out more about the best healthcare MBAs you can find in New York here.
Daniel A. D’Aniello speaks on the value of mentorship in driving success – Johnson SOM Blog
Cornell University’s SC Johnson Graduate School of Management recently hosted Carlyle Group co-founder and former Marriot VP of Finance and Development Daniel A. D’Aniello at this year’s Lewis H. Durland Memorial Lecture.
D’Aniello used the talk as an opportunity offer invaluable entrepreneurship, stewardship, and mentorship advice to Johnson students from his distinguished career as co-founder of one of the world’s largest investment firms. He also “emphasized the importance of humility in recognizing one’s errors and understanding how to spend one’s time.” He elaborates:
“Allocate your valuable time to things that are going to scale, grow, and become profitable. Time is your highest opportunity cost.”
You can read more highlights from D’Aniello’s talk here.
What Toronto MBA Can You Earn in the Least Amount of Time?
It’s easy to see why earning an MBA could be a huge boost to your career—but if the thought of putting those things on hold for two years while pursuing your degree is a source of great anxiety, you are not alone. Many who might otherwise have the ambition and skills to thrive in an MBA program may simply not have the option of putting their life on hold for two years and enrolling in school full-time. This can mean that many talented and driven individuals won’t have access to the kind of opportunities for advancement and growth that an MBA provides.
Not every MBA program requires two years of full-time work. But part-time and weekend programs can often have the opposite problem for individuals eager to earn their degree and reap its benefits. While such programs allow students to continue working full time while earning their degree, they can often take up to three years or more to complete.
For individuals driven to earn their degree quickly, there are a number of programs that allow students to earn an MBA in under one year, reducing the amount of time without an income and moving allowing for a quick path to the salary increase and advancement opportunities an advanced degree is likely to offer.
In Toronto, many top business schools offer accelerated or abridged versions of their MBA programs that can be completed in as little as eight months.
The Fastest Toronto MBA Programs
Ivey Business School – Western University Canada
The Accelerated MBA at the Ivey Business School is available for students who have recently graduated from Ivey’s HBA program, allowing students to earn their degree in just eight months—without needing to take the GMAT exam. This makes it not only among the fastest Toronto MBA programs you can find, but also among the most unique.
The program takes place over the course of eight months, building on the base of knowledge earned during the HBA program. The courses are designed to refresh students on business fundamentals, while also providing career-centered electives in fields like marketing, finance, entrepreneurship, and more. The program also allows students to pursue study abroad through an optional trip to China, South East Asia, or South America.
The benefits of Ivey’s Accelerated MBA are evident for graduates: 97 percent of students earned an offer of employment by within three months of graduating, reporting an average post-graduate salary of $107,116. About 65 percent of employment offers were also facilitated by the university, demonstrating the indelible benefits of the connections made while in school.
DeGroote School of Business – McMaster University
The DeGroote School of Business at McMaster University also offers an Accelerated MBA for students graduating from a Canadian university with their undergraduate degree in business. Attending full-time, the program can be completed in as few as eight months, making it one of the most time-efficient MBAs available to students in Canada.
By exempting students from the required first year MBA courses, students can earn their degree quickly while also cutting their overall tuition expenses in half and accelerating their path to employment. The program is designed for students who have earned their undergraduate business degree in the last ten years, and have at least one year of professional experience. Students may start the program in either September or January.
Wilfrid Laurier University – Lazaridis School of Business & Economics (Toronto Campus)
The One-Year MBA at Wilfrid Laurier’s Lazaridis School of Business & Economics is a unique program that immerses students fully in an integrated model of business education, asking students to constantly make use of the knowledge gained during the program through team projects, case study analysis, and as consultants for a real business. The degree is designed for graduates from any four-year university with at least two years of professional work experience.
Wilfrid Laurier University also offers one of the fastest MBAs you can earn in Canada, with the One Year Lazaridis School of Business & Economics MBA.
The Lazaridis MBA can be completed in just twelve months, offering one of the best return on investments of any Canadian MBA program. Located in Waterloo, a center of technology and finance within Canada, the One-Year MBA also allows students to choose from over 10 different MBA concentrations, such as entrepreneurship, strategic management, supply chain management, and organizational behavior.
Schulich School of Business – York University
The Schulich School of Business‘ Accelerated MBA allows students to bypass many of the Year 1 MBA requirements, cutting the time it takes to complete the degree by half. The program can be pursued either on a full-time or part-time basis, and can be completed within just eight months with the full-time option. The program is reserved for students who have earned a BBA or BCom degree in Canada within the past ten years. With 89 percent of all Schulich MBA students earning a job offer within three months of graduation from their respective programs, the Accelerated MBA gives students the chance to join the workforce much sooner and quickly reap the benefits of their education.
Rotman School of Management – University of Toronto
For prospective MBAs with several years of professional or managerial experience, another way to quickly earn an MBA is by pursuing an Executive MBA, designed specifically for senior managers and executives. Executive MBA programs, such as the One-Year EMBA at the University of Toronto’s Rotman School of Management, can typically be earned in 13 months or less and are designed to accommodate the schedule of a busy professional. While executive programs typically cost more than other MBA variations, the Rotman One-Year MBA stands out as the fastest EMBA you can earn in the Toronto metro.
Georgia Tech EMBA Sets Up Students for International Success
Every year, the EMBA program at the Georgia Institute of Technology at the Scheller College of Business brings new opportunities to students in the program, expanding their global leadership abilities through hands-on projects that asks them to work outside of the classroom and around the world.
The EMBA program at Scheller is focused around two major parts of a rigorous curriculum: a capstone project that requires students to work with a company on a real-time business challenge, along with hands-on international visits. Just within 2017, EMBA students would travel both to China and to Panama for a visit to the Georgia Tech Logistics Innovation and Research Center.
The reasons why a business professional might apply to the Global EMBA program at Scheller can vary, yet by graduation all students can claim indelible new skills and global experiences. For Fard Pasha, Global IT Director at the Coca-Cola Company, Scheller’s Global EMBA was a natural next step to enhance his business skills abroad and help him be a global leader. For Kara Mayo, approaching the program with an undergraduate degree in engineering, the program’s focus on innovation, technology resources and global business helped make up her mind.
While their reasons for choosing the Global EMBA and their plans after graduation may have varied, both Pasha and Mayo observed the invaluable benefits of the program, observing six main skills they had gained in the program that would set them apart from other global leaders. Mayo and Pasha observed a focus on strategic perspectives, the integration of innovation and technology, cultural awareness, corporate social responsibility, core values and a powerful network of classmates and advisers that would help set Scheller EMBAs apart from the rest of the pack.
Five Chicago Booth MBAs Named Siebel Scholars, One Named McGowan Fellow
The University of Chicago recently announced it’s Siebel Scholars and McGowan Fellow for 2018, with five MBA students from the Booth School of Business being recognized for their academic achievement and leadership, and awarded scholarship money for their efforts.
Darrick Chan, Kathleen Davis, Monica Kalwani, Igo Shkilko, and Yihan Tan make up this year’s group of Booth Siebel Scholars. Each second-year MBA student received $35,000 each toward their final year of MBA tuition.
Siebel Scholars are nominated their schools deans for their academic excellence, and leadership in the fields of business, computer science, bioengineering, and energy science. Established in 2000, the Siebel Foundation presents grants to more than 90 graduate students from 16 universities in the United States, China, France, Italy, and Japan. On average, Siebel Scholars rank in the top 5 percent of their class, and many rank within the top 1 percent.
Meanwhile, Pedro Amoroso Lima was named Chicago Booth’s McGowan Fellow for 2018 thanks to his commitment to ethical leadership. Lima is one of 10 McGowan Fellows nationwide this year. These students will work together on a social impact project that will tackle a particular challenge.
Established in 2010 by the William G. McGowan Charitable Fund, a Chicago-based family foundation, the McGowan Fellows program awards full-year tuition to select students. The program aims to provide the resources and guidance to young professionals to become ethical, accountable leaders and role models for generations to come.
These are not the only scholarship and fellowship opportunities for Chicago Booth full-time MBAs. Full and partial tuition is awarded through merit-based awards, Chicago Booth Fellowships, and Corporate Fellowships. Merit-based awards do not require a formal application beyond the normal process of applying to Booth.
Like the merit-based awards, the 15 different Chicago Booth Fellowships have no formal application process, although interested Booth applicants are encouraged to contact the Office of Admissions (7773.702.7396) for more information. Fellowships are awarded under the categories of: Academic, Diversity, Industry, Leadership, Military, Regional, and the Yellow Ribbon Program.
