The New USC Marshall Faculty, Summer Programs, and More – Los Angeles News
We’ve rounded up the latest news coming out of Los Angeles MBA programs this week.
Students Explore Asian Culture Through Unique Summer Program – Loyola Marymount University Newsroom
The Center for Asian Business at Loyola Marymount University’s College of Business Administration celebrates the 10 year anniversary of its “Exploring Asian Culture” program this year. The course, which has served 142 students since its premier ten years ago, is held at LMU in the spring and includes a two-week immersion experience in cities throughout Asia.
This year, students traveled to Shanghai and Beijing in China and Seoul and Busan in South Korea. Throughout the two week trip, students had the opportunity to visit cultural sites, attend lectures, and visit with local companies.
“The program was designed to broaden students’ perspectives through global imagination, enhance cross-cultural understanding, and exemplify positive world views,” comments Dr. Marki Hackett, Assistant Director for the Center for Asian Business.
“Our goal is that the program promotes a deeper understanding and appreciation between Asians and Americans, as well as prepare students to work in the global market.”
Read more about the Center for Asian Business and the “Exploring Asian Culture” course at Marymount here.
New Faculty 2018 – USC Marshall Newsroom
The Marshall School of Business at USC has recently announced the addition of nine new and continuing teacher-scholars.
In the past two years, the university added more than 50 new faculty members to the business school, covering a wide range of departments including entrepreneurship, economics, and accounting. Marshall MBA alum Maria Colman, lecturer in the Department of Business Communication, and Feng Chen, Department of Data Sciences and Operations lecturer, are also among the nine new faculty members joining the school this year.
More than 50 new faculty members have joined the USC Marshall School of Business over the past two years.
“We are excited about these faculty appointments, which build on our long tradition of fostering excellence in both research and teaching,” comments Marshall’s Vice Dean for Faculty and Academic Affairs Nandini Rajagopalan.
Click here for more information on the new faculty joining Marshall this year.
A Career That Makes Memorable Experiences for Others: Incoming Director Ellen Kim Discusses Opportunities in Entertainment and Hospitality – Mihaylo Newsroom
Associate Professor of Management, Ellen Kim, has been named as the new Director of the Center for Entertainment and Hospitality Management (E&HM) at the Mihaylo College of Business at California State University, Fullerton. The Center aims to make students and graduates aware of the many opportunities in this growing field, especially in the Southern California area.
With Disneyland, Southern California has a unique position when it comes to careers in entertainment and hospitality. The E&HM Center is the only hospitality program at a university in Orange County, positioning Kim to play a defining role in the way the industry grows in the area.
“Our students major in business, taking courses in accounting, finance, marketing and operations that are very challenging, which makes them well-rounded,” Kim comments in the Mihaylo Newsroom.
“What makes our students stand out is that they have a strong business foundation, which Mihaylo College provides.”
Read more about the Center at Mihaylo here.
Cal State Fullerton Debuts New Accounting Courses, and More – Los Angeles News
We’ve rounded up the biggest news stories coming from business schools in the Los Angeles metro area this week, including the introducing of new Cal State Fullerton accounting courses.
CSUF Mihaylo Accounting Program Debuts New Courses – Mihaylo Newsroom
The Mihaylo College of Business at the California State University, Fullerton recently announced new courses in the school’s accounting program. The accounting department, which aims to provide students with a well-rounded introduction to the field, hopes the new courses will offer the skills necessary for students to succeed in the industry, whether within major companies or smaller firms.
The new courses will include: Accounting Data Analytics, Seminar in Contemporary Accounting Problems, and Accounting for Income Taxes.
All classes will be available in either fall 2018 or spring 2019 semester. Classes will be taught by professionals in the field, such as Ernst & Young Executive Director of Tax Services Roger Idnani, who teaches the Accounting for Income Taxes.
Click here for more information on the Department of Accounting at Cal State Fullerton Mihaylo.
Report from the Summit: Blockchain, Tariffs and Transformation Were the Buzz at Sixth Annual Global Chain Excellence Summit – USC Marshall Newsroom
Visitors from around the world gathered in at USC’s Marshall School of Business this August for the sixth annual USC Marshall Global Supply Chain Excellence Summit. The two-day conference which gathered more than 500 leaders in the field to share their thoughts and industry insight.
USC Marshall dean, James G. Ellis, comments:
“We are fortunate to be able to facilitate a meeting of the institutions, government agencies, entrepreneurs, professionals and students engaged at the highest levels of the global supply chain.”
The conference included a lineup of keynote speakers, presentation of industry awards, and updates from the field. In addition to staying current within the industry, the conference helps to connect business students with those in the field seeking fresh talent. At the close of the summit, attendees were invited to join for a reception and industry career fair, allowing for networking opportunities.
Read more about USC Marshall and the Supply Chain Excellence Summit here.
L.A. County Jobless Rate Steady at 4.5 Percent in July – Los Angeles Business Journal
A new report from the Los Angeles Business Journal reveals that the county’s unemployment rate has remained steady throughout the summer, staying at roughly 4.5 percent throughout July.
Despite seasonal job losses throughout the education sector, the rate of unemployment in L.A. County remains the same. Adjusting for the payroll jobs that dropped in June with the end of the academic year, L.A. County reported a net gain of 7,300 jobs in July. Over the past year, the net gain has been roughly 49,000 jobs, or 1.1 percent. The slow growth seems to indicate the fact that L.A. County has been operating at nearly full-employment for some time.
To read more about job growth in L.A. County and read the Los Angeles Business Journal‘s full report, click here
MBA Deadline Dates You Should Know in September
September may mean that summer’s over, but it’s also a time to start to look forward to new beginnings! Stay on track of September MBA deadlines and get those mid-fall and winter program intake applications in. Continue reading…
New MBA Jobs: McKinsey, AT&T, Barclays and More
Big time companies are hiring in some the world’s most bustling metros. Check out the hottest new MBA jobs at top consulting companies, supply chain departments, and financial institutions across the country below:
Shark Tank Success, Security, and More – Los Angeles News
Check out some of the latest news coming out of business schools in the Los Angeles metro this week.
The Founders of a ‘Shark Tank’ Success Relied on a Key Piece of Business School Advice – Business Insider
Hanna and Mark Lim, husband and wife entrepreneurs, recall the crucial role the UCLA Anderson School of Management played in the $100,000 investment their company was awarded on the hit TV show Shark Tank.
In 2012, Hanna and Mark presented a pitch for their startup company, Lollacup, which produced safe sippy cups for children. Going into the pitch stricken with fear, Mark reminded Hanna of an important piece of advice he had received during his business school education. While at UCLA Anderson, Mark had already gained experience in pitching business plan. During school, he and his classmates would often pitch ideas not just for professors but for professional venture capitalists. Throughout all this, he learned to not be overwhelmed by the celebrity of the investors but to instead treat them as equals.
“We’re here pitching to investors who are essentially our equals,” Mark told Hanna before their Shark Tank pitch began. “We’re not here for a handout; we’re not here to beg. This is an investment. We’re potentially handing over part of our company that we’ve built.”
The advice payed off, with both Mark Cuban and Robert Herjavec deciding to invest $100,000 for 40 percent of the company. What began as Lollacup has since re-branded as Lollaland, which provides a range of products for infants and toddlers, and recently passed $2 million in sales.
You can read more about the Lims and their experience on ‘Shark Tank’ over at Business Insider.
Neel Patel Won the $3,000 HIMSS Scholarship – Cal State LA CBE News Archive
Neel Patel, a MBA/MSHCM at the California State, Los Angeles College of Business and Economics, was recently awarded with a $3,000 scholarship from the Health Information Management Systems Society (HIMSS). HIMSS, a premier organization for professionals in the healthcare information management field, presented Patel with the award earlier this summer, making him the second student in Cal State LA history to receive the distinction. Patel has left his mark on the university before, however, as part of the winning team in this year’s Western Regional Healthcare Executives College Bowl Case Study Competition.
Patel connected with the HIMSS through Thao Tran, Chair of Academic Alliance Community for HIMSS, who was brought in as a guest speaker for one of Patel’s classes. Tran has been a crucial part of the connection between CBE and the HIMSS, helping introduce students to the organization and its benefits since 2011.
Read more about Health Information Management at CBE and the HIMSS here.
In Network Security, “The Bad Guys are Always Ahead” – USC Marshall Newsroom
Richard Drobnick, Director of the IBEAR MBA program at USC’s Marshall School of Business, recently interviewed Global CTO of NTT Security Kazu Yozawa for the USC Marshall Business Class podcast. During the interview, Yozawa maintains a positive view of the future of network security but warns vigilance. From young forgers to state sponsored hacking, the threats against network security may be greater now than ever.
Global CTO of NTT Security Kazu Yozawa / Photo via marshall.usc.edu
According to Yozawa, “only a few executives understand the situation,” making education surrounding security and how computer networks operate will be crucial going forward.
You can listen to the full interview here.
Are Business School Neighborhoods Becoming More Gentrified?
When universities are found in downtown urban areas, gentrification most often follows. It almost seems inevitable since universities bring in more individuals with higher education, draw in more money, and increase new businesses. But what does the rapid increase of gentrification statistics mean for the business school students looking to start their career in a new area?
What Is Gentrification?
First, we need to look at what gentrification is. In simple terms, it’s the influx of more affluent residents moving into urbanized neighborhoods. At the outset, it may sound good, but it can be controversial.
Gentrification may improve the financial quality of a neighborhood, but it can also force the relocation of current residents and businesses due to increasing costs. Often, the process of gentrification also shifts a neighborhood’s racial and ethnic composition, as well as the average household income. This can lead to community displacement for lower-income families in gentrified areas, some of which often live in the area for several generations.
However, there is a grey area. Gentrification happens when a location becomes increasingly attractive. At that point, more high-income individuals move into the area bringing in investments in the community and leading to improved infrastructure and economic development.
What Causes Gentrification?
According to a recent comprehensive review of gentrification completed by researchers at UC Berkeley and UCLA, gentrification most often occurs when more public transportation is available. People are more attracted to transit hubs because they allow more privileged groups to trade car commutes for transit and signal a large-scale commitment to neighborhood upgrading, which, in turn, leads to increased employment opportunities.
Another spur to gentrification is education. Quality schools, universities, colleges, and medical centers tend to shape gentrification. The substantial federal support that public universities receive brings money into neighborhoods through many means including housing and housing subsidies for faculty and staff. A CityLab study revealed that universities and other academic institutions are key to attracting the creative class, creating more market demand and political pressure for better amenities, schools, and other services.
Analyzing University Neighborhood Gentrification Statistics
Since universities have such an impact on gentrification, we thought we’d take a look at what areas and schools have been most affected. While gentrification is not something most urban areas should aspire for, it happens, and it’s important to know where it’s occurring the most.
To find out, we looked at a recent study by RentCafe of the most gentrified areas in the U.S. The study took a look at the 2000 Census and the 2016 American Community Survey to see the changes that took place over a decade and a half across 1,000 U.S. ZIP codes. The study found that there are easy ways to quantify gentrification statistics when looking at median home value, median household income, and the population that holds a bachelor’s or higher degree.
Based on the results of the study, we analyzed the top five MetroMBA universities in gentrified areas.
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University of Southern California
Located less than five miles away from ZIP code 90014 in Los Angeles, USC Marshall is just on the edge of the most gentrified area in the U.S. Over the last 16 years, this area has witnessed:
- A 707 percent increase in home values
- A 95 percent increase in median household income
- And an 857 percent increase in people holding bachelors or higher degrees
So, while some at USC might be fighting gentrification, it may not be working. Just last year, USC opened up a brand-new $700 million USC Village with a Target Express, Trader Joe’s, and 15 restaurants, transforming the surrounding neighborhood. And even though as part of the development USC provided $20 million for construction of off-site subsidized housing, there are still concerns.
“Across the street, land values are going to increase,” Joe Donlin, Associate Director of Strategic Actions for a Just Economy, told KPCC. “We know the landlords are going to rent at higher levels of rent.”
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Howard University
Located in Washington, D.C. Zip Code 20001, Howard University’s campus is located directly in the second most gentrified area in the U.S. Over 16 years, the area has witnessed:
- A 207 percent increase in home values
- A 163 percent increase in median household income
- And a 212 percent increase in people holding bachelors or higher degrees
The gentrification statistics of the Howard University area hasn’t gone unnoticed. According to NPR, there has been a drastic change:
“The area, located just a couple of miles north of Capitol Hill, was once working-class and black. But as hundreds of new residents move to D.C. each month, more non-black residents move into Howard’s neighborhood. And as property values rise, the university is trying to capitalize on the hot real estate market.”
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University of Houston — Downtown
Located just steps away from zip code 77003, The University of Houston campus is located near the third most gentrified area in the U.S. In the last decade and a half, the area has seen:
- A 284 percent increase in home values
- A 71 percent increase in median household income
- And a 443 percent increase in people holding bachelors or higher degrees
Much of the gentrification can be laid at the university’s feet as its student housing footprint has expanded into surrounding neighborhoods over the last decades. According to the Houston Chronicle, “In the portion of the neighborhood closest to downtown, which includes Emancipation Park, median home values increased 176 percent between 2000 and 2013, according to an analysis of census estimates conducted by Governing.”
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University of Pennsylvania
The Wharton School at UPenn is less than five miles outside the fourth most gentrified neighborhood in the country: zip code 19123. This area, over the last 16 years, has noticed:
- A 203 percent increase in home values
- A 95 percent increase in median household income
- And a 230 percent increase in people holding bachelors or higher degrees.
In fact, UPenn has had a complicated history with gentrification over the years, dubbed Penntrification by some. The problem, according to The Daily Pennsylvania, is that in West Philadelphia Penn students’ demand for housing is displacing low-income families. There have even been protests criticizing the university for causing gentrification in the area.
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Texas Christian University
Fort Worth, TX, contains the sixth most gentrified area in the U.S.; just two miles away from Texas Christian University (TCU). Over 16 years, the area has witnessed:
- A 323 percent increase in home values
- A 103 percent increase in median household income
- And a 122 percent increase in people holding bachelors or higher degrees
While Fort Worth’s growth has brought new life to the city’s urban core, it’s also sky-rocketed property values. In particular, the areas around TCU are growing quickly. The university recently completed a $100 million renovation for its football stadium—just five years after its last overhaul, which reportedly cost $164 million.
