What They’re Saying: Spring Break is Sadly Almost Over
While the East Coast of the U.S. is catching up with another pleasant April storm cyclone, the rest of the business school community is back at work, shedding off the sunburned skin of a spring break well had. With the end of the formal academic year drawing near, students are preparing for the home stretch.
Check out some of the things business schools around the U.S., Canada, and UK are saying about the end of spring break and what you need to know before the academic year closes out.
Spring Break is almost over. It’s time to start thinking about Summer! Register tpdayfor @BaruchCollege #summersession courses & finish your degree early! #BaruchSummer18 #BeBaruch #academicexcellence pic.twitter.com/UJWNEyy7kU
— Baruch College (@BaruchCollege) April 4, 2018
Snowy spring break! #LeBow MBA & MS students are in Romania meeting industry leaders, including @fitbit. Check our Instagram story for live updates. pic.twitter.com/anS73QiRQl
— LeBow College (@LeBow) March 26, 2018
It’s OFFICIALLY spring break! Our MBAs will be in China, Colombia, and Brazil getting a hands on #GlobalBusiness experience 🗺💼✈ pic.twitter.com/BDaPceTOCa
— Johnson at Cornell (@CornellMBA) March 31, 2018
From climbing volcanoes to discovering secrets of luxury marketing, spring break for some Questrom students was about enhancing their business acumen through cultural immersion. https://t.co/lA6oQsdOCB
— BU Questrom (@BUQuestrom) March 29, 2018
It’s extra quiet at the #RadySchool during Spring Break! We miss our students, but hope you are enjoying your break! pic.twitter.com/Kk2LaYMLk2
— Rady School (@RadySchool) March 28, 2018
Villanova Wins, Wharton and Temple Land Donations, and More – Philly News
Philadelphia was up late this week watching the Villanova win its second NCAA Championship in three years, but that wasn’t the only exciting news out of the City of Brotherly Love. Here’s your weekly Philly business school news brief!
William P. Lauder Endows the William P. Lauder Wharton Leadership Fellows Program with $4 Million Gift — Wharton News
The Wharton School at the University of Pennsylvania announced that alumni William P. Lauder has committed $4 million to endow the William P. Lauder Wharton Leadership Fellows Program. Wharton Leadership Fellows are second-year MBA students who mentor, coach, and support first-year students in developing their potential and strengthening their performance as learning teams.
“I have always believed that great leaders are also great teachers, coaches, and mentors,” said William P. Lauder, who serves as Executive Chairman of The Estée Lauder Companies. “That’s what I expect of leaders at The Estée Lauder Companies, and what I hope to model for MBA students … I am thrilled to support this outstanding program’s continued growth and evolution.”
Lauder is also a member of the University of Pennsylvania Board of Trustees, the Lauder Institute Board of Governors, the Wharton Leadership Advisory Board, and a lecturer in the Wharton School. His family has a track record of giving back to the Wharton community, including funding for the Lauder Institute, student fellowships, and numerous capital projects, such as the recently completed New College House at 3335 Woodland Walk.
Read more about Lauder’s gift and the Leadership Fellows program here.
Stanley and Franny Wang Make $2 Million Gift to Fox School of Business — Fox School News
In similar news, a $2 million gift from Temple alumni Stanley and Franny Wang will support a fully endowed chair professorship at the Fox School of Business, and create an endowed fund for the Stanley and Franny Wang Chair in Business and Management. According to dean Dr. M. Moshe Porat, the fully endowed chair will be held by a leading scholar in a department soon to be chosen.
“I am continually humbled by the generosity of our school’s graduates, and Stanley and Franny Wang serve as shining examples of this philanthropy,” said Porat. “The Fox School has a proud tradition of providing leading and cutting-edge business education. Stanley and Franny’s transformative gift will significantly enhance our efforts to attract the world’s top professors and most-renowned researchers—both now in our centennial year and throughout the school’s next 100 years.”
Learn more about the Wangs and their generous gift to Temple here.
Associate Professor Korschun Receives Fulbright Award, 2nd for LeBow Faculty in 2018 — LeBow News
Daniel Korschun, associate professor of marketing and Stephen Cozen Research Scholar in Marketing, has received a Fulbright award to travel to Italy for a research project. According to a press release, Korschun will teach and conduct research on political statements by corporations at Libera Università Internazionale degli Studi Sociali Guido Carli from September to December 2018.
“With the two-party system here in the United States, these decisions are made in a simpler context,” Korschun said. “In Italy, they don’t have that—there are a lot more shifts in how people see their political identity. That makes it more complex to disentangle what’s going on in people’s minds.”
Korschun is the second LeBow professor to be awarded with the prestigious Fulbright Award: Economics Professor Konstantinos Serfes received a Fulbright award to visit the University of Exeter in the United Kingdom during spring 2019.
Read more about Drexel’s Fulbright Scholars here.
Villanova’s Title Proves it is the Best Team—and Program—in All of College Basketball — ESPN
Okay, okay—not business news—but a big deal for Villanova and the surprisingly championships-filled city of Philadelphia.
Why McKinsey & Company Loves Hiring MBAs
McKinsey & Company is considered one of the most prestigious management consultancy firms in the world, with a clientele that includes 80 percent of the world’s largest corporations, along with an extensive list of governments and non-profit organisations. The firm is also a prestigious landing spot for MBAs following graduation. Continue reading…
What They’re Saying: The Facebook Fallout
It seems puzzling to say a company that is worth nearly half a trillion dollars is venturing somewhere near zero degrees Kelvin, but if you were only reading headlines this week you’d get the sense that Facebook isn’t looking so hot.
Since the break of the Cambridge Analytica scandal, the tech giant lost an estimated $100 billion USD in value, and its beleaguered founder Mark Zuckerberg lost an estimated $14 billion of his own worth. Fortunately for him, according to CNN, he’s still worth over $60 billion so he can easily afford more mayonnaise and butter sandwiches.
But the fallout is more than monetary. Trust in the social media company is at a critical low point, according to Statista data.
Janina Conboye at the Financial Times recently asked how the company may go about repairing its own image in “The MBA view: can Facebook fix its reputation?,” speaking with numerous business school faculty members, including London Business School‘s Jill Schlechtweg, who plainly says, “It is worth wondering whether Facebook can regain credibility at all. Arguably Mark Zuckerberg has evaded responsibility for the social costs of social media addiction, the proliferation of fake news, and now leaks of personal data for political ends.”
Check out how other business schools and industry experts are reacting the ongoing Facebook story below.
What @facebook knows about you apparently includes data about phone calls and messages. The revelation could make Facebook’s huge data scandal hurt more than ever. https://t.co/jActrbEB5i
— MIT Tech Review (@techreview) March 27, 2018
PSA: “Harvard Business School Prof. Shoshana Zuboff calls it “surveillance capitalism.” And as creepy as Facebook is turning out to be, the entire industry is far creepier. It has existed in secret far too long…” https://t.co/vSPlAyWnzu
— Mitchell Schneider (@Mitski) March 27, 2018
What Cambridge Analytica is accused of doing, Facebook and Silicon Valley giants like Google do every day, indeed, every minute we’re logged on. – https://t.co/8O9730vddo
— Mark Schaefer (@markwschaefer) March 29, 2018
In the wake of the Cambridge Analytica scandal, Apple is making their position clear on privacy. https://t.co/OLIl5ihtby
— FOX MBA & MS (@FoxMBA) March 28, 2018
.@profgalloway weighs in on #Facebook‘s handling of the Cambridge Analytica scandal via @barronsonline https://t.co/6zWqfAa3nk
— NYU Stern (@NYUStern) March 28, 2018
Don’t Forget These April MBA Deadline Dates
Don’t be left behind, and get a jump on the MBA application process this April! Here’s your guide to the April MBA deadline dates in some of our top metros.
LA Small Business Growth, UCLA Time Management Advice, and More
Take a look at some of the top stories coming out of the Los Angeles business schools this week.
The Growing Role of the CIO – Wall Street Journal
Vijay Gurbaxani, professor of business and computer science at the the Paul Merage School of Business at the University of California, Irvine, recently sat down with Ben Fried, CIO at Google Inc., and the Wall Street Journal for a conversation on the changing role of the CIO in today’s companies. The conversation was led by Nikki Waller, WSJ bureau chief.
Gurbaxani discussed changing technology and its impact on business, particularly the importance of cultivating talent in machine learning. For companies to stay current and competitive, he says, they must perfect the art of gathering data and putting it to good use.
“If you fall behind your competitors in developing this new know-how and leveraging, you’re going to fall further and further behind,” Gurbaxani said. “So my message to you would be get out there in a hurry.”
To read more excerpts from the interview, click here.
Study: L.A.’s Small Businesses Optimistic About Growth – Los Angeles Business Journal
A recent survey, conducted by 1st Century Bank in a partnership with Beacon Economics, has showed positive signs for LA small business growth, which is projected to continue through the end of the summer.
The study, which surveyed 150 small businesses in 30 core industries, reported a number of findings that offer hope and a positive outlook for small business owners in Los Angeles. About 78 percent of businesses reported that they expected to see an increase in market demand, while 54 percent witnessed an increase in profit margins over the past six months. Nearly 56 percent of the businesses reported a boost in sales during that same period, and over 70 percent expected to see further increase during the next six months.
More than 70 percent of small business owners in LA are expecting even more growth within the next six month.
According to Beacon Economics research director Adam Fowler, small businesses are a crucial part of the Los Angeles economy and throughout the nation.
“If we don’t understand small-business sentiment,” he comments, “we can’t know the direction this important sector will be heading in … nor can we improve conditions for their success.”
Click here to learn more about the LA small business growth research and look at the complete report here.
Time Management for Startups: Entrepreneurs Act as if Future Hours Aren’t Worth Much – UCLA Anderson Review
While larger companies have become increasingly aware about the importance of time management in a hyper efficient work environment, the same may not be true for entrepreneurs. Upstarts in the business world are as notorious for breaking certain conventions as they are for cutting their teeth, putting in triple-digit hour work weeks to build companies from scratch. And the reason being, says UCLA Anderson‘s Charles J. Corbett, is that there isn’t enough research quite yet.
“I realized there wasn’t much out there,” Corbett said in a UCLA Anderson Review interview. “A lot of the issues that entrepreneurs face don’t come up in our core management studies.”
Alongside fellow UCLA Anderson and INSEAD professor Guillaume Roels, and University College London’s Onesun Steve Yoo, Corbett found that entrepreneurs have to think of time management in the terms of their future, rather than today. And the trick is to understand “net present value (NPV).”
“But, according to Corbett, Roels and Yoo, people, including entrepreneurs, aren’t very good at thinking about their time in the same way. When people think about the value of their time, they tend to think about its current value, today, and not the future ramifications of having that time today. Correctly anticipating those dynamics, ‘NPV thinking’ is particularly important for entrepreneurs with the ambition to grow their business.”
You can read more from the trio’s time management research here.
