Stevens Lecture Encourages Employees to Take Life and Career Into Their Own Hands
When it comes to relationships between employees and their employers, a lacking connection often means workers must do more for their own future, says Fran Dramis, who recently spoke at the Stevens Institute of Technology’s School of Business.
Dramis, a former leader at financial institutions like Salomon Brothers, CitiBank, BellSouth, and Coopers & Lybrand, explained that the lack of a meaningful social contract between corporations and employees means that workers must be strategic about their own job security.
“How do you make it so unintended consequences become intended? When the downsizing happens, the people who get eliminated are the support people, not the strategic people. Your job as a leader is to make your organization and your employees strategic. Don’t go to work someplace that doesn’t offer you that, or you’ll be the first to be laid off,” he explains.
As the CIO at BellSouth, Dramis retention strategy was to give employees “life security,” as opposed to job security. “You have to increase their marketability, help them learn new skills. If you give someone life security, they’ll stay with you.”
Stevens Professor and information systems expert Michael Parfett worked under Dramis in a few different positions over the years. In his introduction, Parfett praised Dramis’ “life security” approach. “He kept asking me if I was updating my résumé. No other boss has ever asked me to do that. People do that when they’re getting ready to leave. In his book, it’s part of his technique — he gives you the ability to leave, but you don’t want to.”
Dramis concluded his talk with some words that he hoped might light a fire under future MBAs. “We’re rapidly moving to a digital society, where the interaction between business processes and digital enhancement is creating incredible opportunities. No company will hire you and tell you you’ll be there for the next 30 years. You have to take responsibility for your own life security.”
Kogod Introduces New Graduate Certificate in Islamic Finance
American University has launched a new graduate certificate at the Kogod School of Business: the Graduate Islamic Finance Certificate.
The new program was founded by Professor Ghiyath Nakshbendi. He held his first Islamic finance conference at Kogod in 2009 and created two classes on the topic afterward. Following feedback from Kogod’s students and faculty, Nakshbendi officially launched the program for the fall 2017 semester.
“This program offers a special opportunity to become an educational leader in the field,” Nakshbendi says. “I’m excited for what lies ahead.”
Students in the Graduate Certificate in Islamic Finance program can expect:
- Business courses, such as Financial Accounting and International Finance
- Economics courses, such as Economics of the World Regions
- Mathematics-focused courses
- Guest lecturers who offer students real-life perspective from the business world
Nakshbendi has an all-star line up of speakers for the program’s inaugural semester, including CEOs, lawyers, and high-profile Islamic finance professionals from Kuwait, Doha-Qatar, and Bahrain. “I make a point of inviting guest speakers who can help my students with job prospects,” Nakshbendi said.
It’s all about networking for Nakshbendi, and he hopes that his program will attracting Islamic finance professionals to Kogod. His “ultimate goal” is that these professionals will bring their work experience and job contacts with them. Nakshbendi told Kogod that he hopes to place his students at places like Citibank or Goldman Sachs.
Along with launching the Graduate Islamic Finance Certificate, Nakshbendi also founded the American Center for Alternative Finance (ACAF), a non-profit that promotes Islamic Finance and other alternative finance methods in the United States.
Through seminars and conferences, ACAF offers students opportunities to network and gain experience outside of the classroom. Nakshbendi says the organizations helps provide “great supplemental experience” for students.
Nakshbendi hopes the Certificate program is a conduit for success. Outcomes are his priority, and he wants to ensure students are flourishing after graduation.
Columbia Awards Annual Alumni Medals
Three Columbia Business School graduates have received the 2014 Columbia University Alumni Medals. Mitch Freinberg, ’77, Philippa Feldman Portnoy, ’90, and Sabin Streeter, ’67, have all been honored for their distinguished service of 10 years or more to Columbia. Founded in 1933, alumni medals are given to those known to serve all that is Columbia. This includes the school itself, alumni associations, regional Columbia clubs and university-wide initiatives. Continue reading…
