Friday News Roundup – Northwestern Introduces New Classes, and More
Let’s take a look at some of the biggest stories from this week, including new Northwestern classes for its MBA program.
NYU Stern Faculty to Share Expertise on Artificial Intelligence – NYU Stern News and Events
NYU Stern School of Business has announced that select faculty members will be available for speaking engagements, panel discussions or other knowledge sharing on the state of one of tech and business’ greatest forces: artificial intelligence.
According to a recent announcement, leaders in their various fields will be available for comment in articles, or for speaking engagements and discussions on AIs present and future. Information Systems Professor Vasant Dhar, an expert on machine learning in finance, has explored the question of how reliable AI is in the handling of personal finances, as well as AI in big data, healthcare, and education.
Professor of Economics Nicholas Economides, which seems a little too on the nose for an economic’s professors name, is available to share his knowledge on the inequality that tech culture can perpetuate, particularly in California’s IT sector. His research focuses upon how public policy accommodates changes in technology, and how the ebbs and flows of the tech sector affect workers disproportionately to owners and shareholders.
Other topics on which faculty members will contribute their expertise are the ethical concerns behind the use of AI; the possibilities behind AI and crowdsourcing; the legacies of certain innovators throughout history, and a look at how workforce policy has addressed the shifts of the sharing economy.
For more on potential faculty engagements on the topic, read here.
UC Davis Graduate School of Management Professor Weighs in on Stock Buybacks – Yahoo! Finance
University of California, Davis Graduate School of Management professor Paul Griffin recently weighed in on corporate stock buybacks for Yahoo Finance.
A recent op-ed piece for the New York Times by Senator Chuck Schumer and Bernie Sanders criticized the practice for its marginalization of citizen stock traders in favor of corporations by increasing the value of shareholders’ stock options. In certain situations, however, buybacks have an unfavorable effect on stock prices.
Historically, during buybacks for large corporations such as Xerox and General Electric, stock devaluation has been the unfortunate end result. UC Davis’ Griffin notes, “The initial response generally positive, [shares] get a little bump in price. Then people start thinking more about what’s going on here, how a firm is performing on an economic basis rather than managed number basis.”
Few company’s damaged itself through stock buybacks more than General Electric, which bought $40 billion of its own stock (15 percent of its entire market) share. In 2016, the company’s individual stock price was valued above $30, but now consistently is sold between $7-10 per share.
Among the other companies that have landed in Yahoo! Finance‘s “Hall of Shame” are Viacom, GM, IBM, General Electric, and Sears.
Read here for more on corporate stock buybacks.
New Courses at Kellogg Will Focus on Shifts in Global Business – Northwestern Kellogg News & Events
Northwestern University’s Kellogg School of Management has announced 12 new courses that will explore the evolution of global business trends.
“To address the ever-evolving professional development needs of our students, it is a top priority to continually innovate our MBA curriculum … We’ve incorporated a mix of experiential learning, diverse intellectual perspectives and emerging business topics in our latest course offerings.” says Michael Mazzeo, Senior Associate Dean of Curriculum and Teaching.
Among the new course offerings are Blockchain Technology, Digital Assets and the Future of Finance, Corporate Entrepreneurship: Organization Design for Disruption, Leadership Ethics and Empathy, and The Right Stuff: Principles Behind Successful Careers.
Kellogg’s Curriculum Committee, which is comprised of seven faculty members from each of the school’s department, reviewed and approved the new courses via a detailed process that ensures the relevance and breadth of the coursework. To learn more about the new courses, read here.
Habitat for Humanity CEO Speaks at Fox on the Challenges of Non-Profit Fundraising – Fox School of Business News
Temple University’s Fox School of Business‘ Board of Fellows recently gave a presentation on issues pertaining to non-profit fundraising for an audience of MBA students.
Featured guest speaker Christine O’Connell, CEO of Habitat for Humanity, presented the challenges inherent in raising money for non-profit entities learned from her over twenty years of experience. “There is never enough money,” O’Connell says, “and there is entirely too much need. To put that need into context, 800 people call us a month. We are [only] building twelve houses a year and repairing 100.”
O’Connell focused upon the importance of maintaining strong relationships with donors, and of treating each donor with equal respect. Six figure donations, she believes, should be received with the same level of gratitude as smaller amounts. ““You gotta make a connection with people,” O’Connell says, “… You gotta create empathy, and you have to have people feel and know that they are empowered and that their gift counts.”
“[O’Connell] presents Habitat in such a way where she hones it down and says this is how you can help, by supporting this organization and talking about the breadth and depth of what they do, not just that they do it,” said Ellen Marshall, an advisor for Fox Management Consulting and Strategic Clarity Advisors and longtime fundraiser for non-profits.
Read more on O’Connell’s talk here.
Credit Card Company for Emerging Markets Wins Sloan’s Startup Competition – MIT Sloan News
A credit card company for emerging markets won this year’s “MIT Sloan Accelerate 100K Entrepreneurship Competition.”
The company, Duo, is aiming to help the millions of small and mid-sized Latin American businesses that lack credit. In Mexico, businesses that are less than two years old are not granted credit, which lands many of them in massive amounts of debt.
Duo co-founder Hugo Lopez-Velarde, (MBA ’20), winner of this year’s “MIT Sloan Accelerate 100K Entrepreneurship Competition.”
Duo co-founder Hugo Lopez-Velarde, (MBA ’20) says, “In Mexico, corporate cards are uncommon—often, business owners use personal cards and take on credit on behalf of their businesses … This is the first step for next-generation financial products for companies in Mexico.”
Duo users will not only be free of personal debt, but they will also establish credit history. Duo’s card also boasts an analytics dashboard that will allow business owners to manage spending.
Runners-up focused upon emerging technologies in healthcare. The startup Encora created a therapeutic wearable wristband that alleviates hand tremors in neurodegenerative patients. Hikma Health designed customized data systems for healthcare providers who are treating the Syrian refugee population.
Accelerate 100K’s winner and runners up were chosen based upon audience votes, and will advance to Sloan’s Launch competition this spring. Read more about Accelerate’s winners and about Launch here.
How Philadelphia MBA Programs Help Lower-Income Applicants
Compared to Philly’s east coast metropolitan peers, its cost of living is laughably low. Additionally, Philly has all of the advantages of being located smack dab between DC and NYC. Although Wall Street has long since displaced Philly as the American center for banking, much of that infrastructure and tradition remain, which helps Philly maintain its status as a major economic powerhouse in the 21st century.
Since, according to Philly Mag, Philadelphia has one of the fastest growing millennial populations in the country, the city has creativity and energy that permeates every sector. All of these factors make Philly the perfect place to launch a career.
For low-income students looking to pursue an MBA in Philly, we’ve compiled a list of what some of Philly metro’s top schools are doing to help students fund their higher education.
Fox School of Business — Temple University
The Fox School of Business at Temple University has a variety of options for students looking to finance their MBA. In fact, according to the school’s website, 60 percent of first-year Temple students receive need-based aid each year. On average, first year students receiving need-based aid are awarded $15,000 toward tuition. Fox carefully assesses the applications of all incoming students, and the school distributes merit-based scholarships for those who demonstrate particular promise. There are also specific financial perks for Temple alumni coming into the MBA program. These students are not required to pay an application fee and receive a five percent tuition scholarship.
JUST FOR YOU: Fox Temple EMBA Jumps in New Financial Times Ranking
Lehigh University College of Business and Economics
The Lehigh University College of Business and Economics provides a some merit-based scholarships to helps students fund their education. Awards are determined by the Committee on Financial aid. The committee considers an applicant’s undergraduate record, test scores, and work experience. Scholarships include the Dean’s Scholar, which offers extremely promising students a full ride plus a $10,000 living stipend.
Lehigh also has a number of Director’s Scholars, who may receive awards anywhere from $5,00 to full tuition. Lehigh offers many other scholarships in addition to need-based financial aid specific that varies depending on the MBA track.
LeBow College of Business — Drexel University
When considering Philly Metro MBA programs that provide resources for low-income applicants, it would be remiss not to mention Drexel’s LeBow College of Business. At LeBow, an impressive 82 percent of full-time MBAs get aid that amounts to 62 percent of tuition. Additionally, nearly 70 percent of full-time students benefit from grants that covered about one fifth their tuition. Drexel also offers merit-based scholarships. Additionally, the school offers the URM Scholarship, which offers supplemental fiscal gifts to underrepresented minority students.
Smeal College of Business — Penn State University
Penn State’s Smeal College of Business has a large number of MBA alumni-funded scholarships that are awarded based on academic achievement, work history, and how well students fit into the Smeal program. Around 20 percent of incoming students receive $5-10,000 awards. There are fellowships for specific groups of students, including the Powerful Women Paving the Way Fellowship which is awarded to promising women, and the Maimuna Mijindadi Anyone Memorial Fellowship, for students of Nigerian descent.
The Wharton School — University of Pennsylvania
Students who apply to Wharton are automatically considered for fellowships that offer some level of financial support. Students also have the option of applying to any of over 700 external fellowship programs. Wharton students can also apply for private or federal loans.
The Ivy League business school offers a litany of scholarship opportunities for incoming and current students, from the American Association of University Women, to the Instituto Ling Scholarship Program for international applicants, among others.
Additionally, Wharton hosts a positively booming array of fellowship opportunities, including some of MetroMBA’s favorites, like the Forte Fellowships program and the Reaching Out LGBT MBA Fellowship.
For more information on Wharton’s many financial assistance opportunities, click here.
Healthcare Management MBA: Philadelphia
Philadelphia is dominated by the healthcare industry. In fact, in 2013, health care accounted for 22 percent of the jobs in the city, or about 146,000 jobs and $6.7 billion in annual salary. It makes healthcare far and away the city’s largest employment sector. And it makes sense considering Philadelphia’s largest employers include the Children’s Hospital of Philadelphia, Temple University Hospital, Independence Blue Cross and Pennsylvania Health, just to name a few. Continue reading…
Fox School of Business Offers 24 in 24 Program
Temple University’s Fox School of Business’s program “24 in 24” gives applicants an edge on admission. If an applicant applies from now until July 24, 2014, an admissions decision will be delivered to him or her in 24 hours.
“We don’t want the thought of applying to be cumbersome,” said Phyllis Tutora, Director of Graduate Admissions at Fox. “Summer is a time for people to be enjoying themselves. This program gives individuals a quick decision so that they can get on to enjoying the summer.”
The “24 in 24” program is for both Part-Time and Full-Time MBA students. The requirements for the application program are to have the required standardized testing scores, a completed application, university transcripts, one letter of recommendation and one essay. During this application period, the application fee will be waived for anyone who applies. Continue reading…
