Harvard Faculty Discuss Recent Chinese Tariffs, and More – Boston News
Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
Trade War or War of Words? – Harvard Business School Blog
Following the Trump administration’s recent announcement of 25 percent tariffs on 1,000 Chinese exports, Bill Kirby and Willy Shih, Harvard Business School faculty experts on China, took to the HBS blog to “trade theories on the best path forward for the world’s two largest economies.”
Both experts point to economic shifts in the 1980s, which, not incidentally, was the decade in which Donald Trump started to become a household name. Kirby notes that the major trade distinctions between the United States and Japan, specifically regarding the auto-manufacturing industry, set a precedent. In that, the United States began to firmly invest in Japanese car companies like Honda and Toyota, building their own domestic manufacturing plants. Kirby suspects, however, that the Trump administration may not be as open to that kind of investment. “If Chinese companies wanted to improve access to American markets by investing in the US, would the administration be open to it?” he asks. “They ought to be, in my view. But my suspicion is that that’s not the outcome that this administration is looking for. They’re looking for a miraculous recovery of American-based manufacturing exporting to a Chinese market, not a particularly good match.”
Shih, staying on the topic of the ’80s, offers a different opinion, saying; “I think the real issue is industrial policy on the Chinese side competing with a lack of industrial policy on the U.S. side and the consequences of that. Going back to the mid-1980s, the Chinese government has been mapping a pathway for the country to become a modern country (just as the Koreans, Taiwanese, and the Japanese did before, except on a much larger scale). The Chinese have identified core capabilities that they want to see inside the country, and they’ve been methodically working on that over the last 30-plus years. I’d argue the positive trade balance with the US reflects the progress they’ve made.”
You can read the full conversation between Kirby and Shih here.
An Easy Internship Trick from Kayla Humel ’18 – Simmons Blog
Current Simmons School of Management student body president Kayla Humel, ’18, wrote candidly about the impact of the Student Government Association (SGA) on her recent internship at Puma and future career plans.
“First and foremost, [SGA has taught me] the power of good communication. When the e-board is communicating with one another, event planning is exponentially easier. When SGA is communicating with organizations, processes like budgets occur seamlessly. Good communication is crucial to success in any organization.”
Humel threw her hat in the presidential race because she “saw opportunities to improve processes between SGA and the other organizations on campus. I knew that SGA could create change on campus and I wanted to play a major part in that.”
You ca check out more about her Simmons experience here and watch an interview with Humel about her internship below.
Wield Polarization to Build Positive Change – MIT Sloan Newsroom
MIT Sloan School of Management sustainability initiative director Jason Jay used his recent TEDx talk as an opportunity to share some strategic advice on how to more effectively spark difficult conversations. “The voltage feels so high that we simply avoid conversations out of fear of getting shocked. But I like to think about that polarization as a kind of energy.”
- Draw a contrast between what others might expect you to do and what you’re really trying to do.
- Clarify the values underlying your positions, and do the same with the people you’re talking to.
- Make it clear that you aren’t meeting simply to bargain over these values, but to embrace tension and find new ideas.”
You can check out Jay’s TEDx talk at Hofstra University below and learn more about his work here.
Columbia Explores Power In News, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York City business schools this week.
Which News Outlets Have the Most Power? – Columbia Newsroom
Columbia Business School recently published research surveyed from 18 different countries, which uncovers that “television news is by far the most dominant and influential news source and the number of news sources that people rely upon and trust has a direct correlation with their income levels.”
CBS professor of business Andrea Prat explains, “Countries around the world are experiencing information inequality, with a distinct subset of the population depending on just one or two sources for news. In turn, this makes a certain set of large news organizations particularly powerful.”
The research points out several different, important conclusions:
- “Television-based organizations are the most powerful commercial news organizations.“
- “News sources that cater to information-poor audiences have greater ‘media power.’”
- “News consumption appears to be highly unequal.”
- “There is no evidence that public service broadcasting reduces information inequality.”
You can read more from the report here.
Toys ‘R’ Us is Just the Latest Nostalgic Retailer to Die – CNN Money
“Another one bites the dust,” writes CNN Money journalist Danielle Wiener-Bronner, remarking the full-scale closure of the once-iconic toy distribution empire Toys ‘R’ Us. Wiener-Bronner notes that the closure comes around six month after the chain filed for bankruptcy in fall of 2017, struggling for years to compete with other distribution chains like Wal-Mart and Amazon.
A photo of the grand opening of the Toys ‘R’ Us store in Manhattan. The 70-year-old former retail giant will soon be liquidating all of its U.S. and UK locations. Photo via AP/Richard Drew
Tulin Erdem, chair of NYU Stern‘s Marketing Department, spoke with Wiener-Bronner about the news, noting that while nostalgia can be very powerful when it comes to marketing, it just isn’t enough sometimes.
“You can have a comeback with [nostalgia], but you can’t sustain it,” she said.
While Toys ‘R’ Us stores will be effectively shutting down in the U.S. and UK, and upwards of 30,000 employers will lose their positions, the closure will never erase the sheer joy of driving a 2-seater child rider car in a department store. You can read the rest of the CNN Money report here.
Zarb Introduces New Co-Op MBA Program – Hofstra University Zarb School of Business
The Hofstra University Zarb School of Business recently announced a completely new full-time two-year Co-Op MBA, which includes a six-month paid co-op experience opportunity at a leading regionally based corporation.
“Hofstra University’s Co-Op MBA program provides students with an integrated educational and professional work experience in their field of study, allowing them to expand their experience and responsibility,” the school noted in a recent press release. “With New York City’s business community only 25 miles away, you’ll also have access to many non-classroom learning experiences.”
The program requires the completion of 38 to 45 credits, with classes available full-time, both day and night. The co-hort size will be between 25 and 30 students, offering 12 separate concentrations, including: accounting, business analytics, finance, and more.
Click here to learn more about the school’s newest program.
How Quickly Can You Earn an MBA in New York City?
The time of the two-year MBA is coming to an end. Now, many top schools offer accelerated MBA programs that can be completed in as little as 12 months—with one school offering a nine-month MBA program designed just for business school graduates. So where you can find the fastest MBA degrees in NYC?
For most of these one-year NYC business school programs, the MBA curriculum and experience is similar to that of the traditional two-year MBA but condensed into a more intense 12-month format. These are the ideal programs for business professionals who do not have the time to take off two years of work but want the full MBA experience. Continue reading…
Entrepreneurship Centers and Resources For NYC MBAs
Think you have enough moxy, bravado, gumption, etc. to be the next Elon Musk, Warren Buffett or Richard Branson? There are more resources and opportunities than ever before to go rogue and start your own business, especially in New York City
Top 5 Finance MBAs in New York City
Wall Street anchors the economy of New York City, and much of the U.S. So, it’s no wonder that it’s considered the world’s premier financial center. It’s home to the New York Stock Exchange, NASDAQ and more prominent financial institutions. Plus, Manhattan is a leading center of banking, finance and communication. In fact, financial services account for more than 35 messages of the city’s employment income.
That’s why it makes sense to get a finance MBA in New York City. There’s no better location to dive into the industry and all of its many facets, but which MBA program is the best? Of course, every school offers courses in finance, but there are a few schools that stand out.
Below, we’ve outlined the five best finance MBAs and why they stand out.
Stern School of Business – New York University
At the Stern School of Business, the finance department is home to world-renowned faculty, including Professor Robert Engle, the 2003 Nobel Prize winner in economics. And those professors are in charge of teaching a variety of finance courses for the MBA program. What makes Stern stand out is the myriad of finance specializations available to students. Unlike most programs, which offer a single finance concentration, Stern breaks it down into unique specializations:
- Banking
- Corporate Finance
- Finance
- Financial Instruments and Markets
- Financial Systems and Analytics
- FinTech
- Quantitative Finance
The courses that make up the specializations include everything from bankruptcy and reorganization to behavioral finance, valuation and financial information systems.
Outside of the classroom, Stern offers students an opportunity to join the Graduate Finance Association, and to participate in the Center for Real Estate Finance Research. And thanks to their focus on finance, 5 percent of MBA graduates enter the diversified financial services industry and 24 percent enter investment banking.
Columbia Business School
MBAs at the Columbia Business School can easily and effectively focus their career path in finance. The finance program includes such courses as asset management, investment banking and risk management. Outside of the classroom, the school offers students seven different programs and centers dealing with finance and economics. The most interesting programs include:
- Private Equity Program: The program serves as the business school’s primary point of contact with the private equity industry.
- Heilbrunn Centre for Graham & Dodd Investing: The center promotes the practice and study of original investing principles, to improve investing with a world-class education and research.
And it’s obvious that the finance MBA works at Columbia. In 2015, 15 percent of graduates went into finance: investment management, 14 percent went into finance: banking, and another 14 percent went into finance: other.
Gabelli School of Business – Fordham University
The finance MBA at the Gabelli School is a standout program. The concentration includes eight courses on finance including hedge funds, equity analysis and emerging markets. But it’s not just the concentration that makes Gabelli a good choice. It’s also the MBA Immersion Week experience, which allows students to spend five days immersed in the inner workings of the finance industry.
Outside of the program, students can participate in the Fordham Finance Society, which is student-run and provides a diverse range of events, speakers and resources in finance. As part of the society, the school offers a variety of challenges and events for graduate students including the University Trading Challenge.
Zicklin School of Business – Baruch College
At the Zicklin School, the MBA in finance is a major that covers a broad range of careers in the financial industry. There are dozens of courses that students can choose from, and 12 credits are required to complete the major. An example of possible courses include futures and forward markets, advanced managerial finance and measurement and management of credit risk.
The school is also home to the Subotnick Financial Services Center, which is a state-of-the-art instructional facility that provides hands-on finance practice. And the crowning achievement of the Center is the Wasserman Trading Floor. This floor includes 55 high-end workstations and high-tech financial tools that can be used for experiential learning experiences.
Zarb School of Business – Hofstra University
The finance MBA at the Zarb School is dedicated to helping MBAs achieve a career in the financial services industry. The degree requires 41-48 semester hours to complete and includes courses such as managerial finance, investments and advanced quantitative analysis for managers.
MBAs at Zarb also have the opportunity to use The Center for International Financial Services and Markets. To help students on their career path, the center regularly hosts conferences and workshops as well as offering resources for faculty and student study. There’s also the Financial Management Association, Graduate Finance Association and the Hofstra Investment Banking Association, which offer additional finance guidance and experience.
Hofstra Launches New Center for Entrepreneurship
Hofstra University has launched its brand new Center for Entrepreneurship. The new center will be directed by Mark Lesko. Lesko, who will become the executive dean of the center, currently serves as the executive director of Accelerate Long Island, a group that brings research institutions together with local business communities to create new economic ventures. Lesko has also served as a federal prosecutor and the supervisor of the Town of Brookhaven.
As the executive dean of the Center for Entrepreneurship at Hofstra, Lesko will continue his work to connect Hofstra University with the local business community to fund startups, commercialize research and expand Hofstra’s entrepreneurial impact on the community. In order to expand Hofstra’s entrepreneurial reach, the school will also expand the entrepreneurship curriculum and will coordinate business plan competitions to help fund student startup ideas.
