Loyola Quinlan Professor Offers Holiday Gift Buying Advice to Shoppers
News Flash: We’re less than one week away from Christmas! Have you finished your holiday shopping yet? Of course you haven’t! For those procrastinators who have not, Professor Mary Ann McGrath of the Loyola University Quinlan School of Business has some tips for you.
McGrath recently published a guide on the Quinlan website that outlines four shortcuts for gift giving. The list offers consumers a few different ideas on how to best spend money on others this holiday season. A survey by the National Retail Federation shows that shoppers are expected to spend about $967 this year, up 3.4 percent from 2016; and that number only increases for those in the 18-24 year-old demographic.
McGrath’s first piece of advice is to focus on one or two special people. Don’t get hung up on finding special gifts to everyone in your life, you’ll only be wearing yourself, your time, and your money thin. Instead, she advises that consumers “choose one or two special people in your life—perhaps your significant other, a very special friend, or a parent—and find that special gift for him or her.”
Next, McGrath encourages giving non-traditional gifts, such as services or nonprofit contributions. Think of who you are buying for an purchase a service that best suits them. Know someone with kids? Buy them credit toward a babysitting service. Got a foodie in your life? You can’t go wrong with a restaurant gift card.
For those who have everything, consider making a contribution to a charity in their name. “If you are not sure which groups your recipient favors, a charity that benefits children is always a good choice,” she says.
Ultimately, McGrath says that the most successful gifts are small do not necessarily come from a store. In fact, she has found that “the perfect gift” is oftentime the handmade gift of a child. “In just that spirit, give generously and freely, try not to burden yourself or your recipients, and enjoy the company of family and friends,” she says.
McGrath, a professor of marketing, is an expert on consumer rituals, gift exchanges, and shopping behavior. She recently expanded her research into the international marketplace, and publishing several papers related to shopping and consumer behavior in China, where she lived and taught for two years. You can learn more about McGrath by reading her bio page.
USC and Marshall School of Business Lead Way For IoT Systems
The USC Institute for Communication Technology Management (CTM), the USC Center for Cyber-Physical Systems and the Internet of Things (CCI), and the USC Integrated Media Systems Center (IMSC) recently announced a partnership that will design, develop, test, and implement an Internet-of-Things (IoT) system to benefit communities in the Los Angeles metro.
You may be wondering: what is an IoT? These networks are built from groups of independent people or organizations that voluntarily work together to create consolidated data streams from numerous IoT device owners into one common flow. Moving forward, IoTs will allow those connected to a network to share the data from their devices so it can be used for applications that manage energy use, transit, garbage collection, air quality, parking, or leak detection in pipes.
In a simpler form, IoT is short-hand for multiple devices beyond just computers and smartphones, that are interconnected.
The Intelligent Internet of Things Integrator consortium—or I3 for short—will engage governmental agencies and industry partners to encourage the development of community-based IoT networks. According to a press release, the system will provide greater transparency between the developers who use data for decision-making purposes and the users or organizations that own the devices connected to IoT networks.
Spearheaded by USC, the I3 consortium aims to improve decision-making and customer service at municipal levels. For example, I3 applications bay include guides for firefighters in burning buildings, or detailed insights to improve economic activity such as the foot traffic outside of a potential restaurant venue.
“We live in an age of data-driven innovation, and initiatives such as the I3 Consortium are essential to leveraging the data that surrounds us for a strong future,” said USC Marshall School of Business Dean James G. Ellis. “USC and Marshall will continue to lead the way in helping our students, faculty and community better understand the convergences between businesses, consumers and governments that will shape cities in this age of data.”
Ultimately, the system aims to turn consumers into entrepreneurs and I3 co-founders Bhaskar Krishnamachari, Jerry Power, and Cyrus Shahabi hope to distribute the technology as opensource software so other municipalities, states, and other government entities can benefit from USC’s system.
Showdown: Find Out if You Should Get an MBA in New York City or Los Angeles
The battle for hip-hop supremacy may have ended in the ’90s, but we can keep the East Coast-West Coast beef alive while looking at full-time MBA programs in New York City and Los Angeles.
Both cities are home to top business schools and are ripe with employment opportunities in booming industries. But which is best for you? Let’s take a deeper dive.
Location
We’ll start with location, location, location.
The most bustling city in the country, NYC is is the capital of the business world. More Fortune 500 companies are headquartered here than in any other city. The city is not only home to Wall Street and the world’s largest financial institutions, but also some of the largest media, marketing, and advertising companies. While New York City can be daunting in its size, it’s also furiously expensive to live in, so it may not be for everyone. Getting to know the city’s vast public transportation system is a must and it can get pretty cold in the winter, so if you’re looking for beaches, keep reading.
Meanwhile, LA is Tinseltown. The city’s economy is driven by entertainment industries like television, film, video games, music recording, and production, but also by international trade, technology, petroleum, fashion, apparel, finance, telecommunications, and tourism. In the 2017 Global Financial Centres Index, Los Angeles was ranked as having the 19th most competitive financial center in the world, and sixth most competitive in United States. The city is also the largest manufacturing center in the western United States, with the ports of Los Angeles and Long Beach comprising the fifth-busiest port in the world and a vital trade route within the Pacific Rim.
New York City Full-Time MBA Programs
Full-time MBA Programs in New York City include:
- Stern School of Business – New York University
- Gabelli School of Business – Fordham University
- Columbia Business School
- Zicklin School of Business – Baruch College
What stands out about these programs?
A Columbia MBA opens up countless career options and is sure to pay off in the long run: The average starting salaries for Columbia MBAs is $104,000, with 37 percent of full-time MBA of graduates being employed in the financial services industry.
Meanwhile, Stern’s MBA curriculum gives students tons of flexibility, and allows degree seekers to choose one or two MBA specializations, NYU allows up to three specializations from 20 plus options.
Both Gabelli and Zicklin’s full-time programs feature cohort-based structures. Gabelli’s program features a New York immersion experience where, over the course of five days, students are exposed to a number of company visits with corporations like Deutsche Bank, Money.net, and Hewlett Packard. As an alternative to completing a major, Zicklin students may pursue a joint JD/MBA in conjunction with Brooklyn Law School or New York Law School.
Los Angeles Full-Time MBA Programs
Full-time MBA Programs in Los Angeles include:
- Anderson School of Management – UCLA
- Argyros School of Business – Chapman University
- Graziadio School of Business and Management – Pepperdine University
- Marshall School of Business – USC
- Peter F. Drucker and Masatoshi Ito Graduate School of Management – Claremont Graduate University
What’s special about these MBA programs?
Anderson features a Business Creation Option for MBAs, which gives students the chance to start their own businesses while still in school. Meanwhile, the Special Project Option challenges groups to tackle problematic issues that impact an entire industry.
Chapman’s full-time MBA curriculum features three main components—core/required courses, a capstone course, and elective courses. Students have several track options available to concentrate their studies, including: Corporate Finance, Marketing, Investment Management, Entrepreneurship, Information Systems in Digital Times, and more.
Graziadio full-time MBA students have the option to spend a trimester abroad in the fall term of their second year at one of Pepperdine’s partner universities in Africa, Asia, Europe, Latin America, or Oceania.
USC MBAs have required study-away coursework called PRIME International Experiential Learning, a 10-day site visit overseas. Students must complete industry—and company-oriented recommendations in capstone projects that incorporate concepts from global strategy and global economics.
At the Drucker School, students may choose two areas of concentration to focus their studies, and select elective within these areas of concentration. Concentrations are offered in: Strategy, Finance, Marketing, Leadership, Global Management, and Information Technology Management.
Jobs and Salary
When it comes to job placement, both New York and Los Angeles have their perks.
New York is home to business school with the highest job placement rate: Around 97 percent of Columbia Business School graduates receive offers within three months of graduation. The school’s class of 2016 boasted an average starting salary of roughly $125,000 plus a $25,000 signing bonus. The top three industries that employ Columbia graduates are financial Services (37 percent), consulting (35 percent) and technology/media (10 percent).
Check out a complete breakdown of NYC salaries and employment opportunities, give our guide to getting paid in New York a read.
While Silicon Valley has a reputation for being the prime place for MBA jobs in California, LA has been catching up recently—and fast. Los Angeles has embraced the tech boom in a big way, with many Valley bigwigs and new startups alike moving their operations to Silicon Beach. With that in mind, the new era of LA innovation is creating some lofty starting salaries, particularly for MBA graduates.
Recent UCLA Anderson graduates earned an average starting salary of $121,250 with a $25,000 signing bonus, according to statistics released by the school. The top five industries to employ Anderson MBAs are in tech (30.6 percent), financial services (21.6 percent), consumer products (13.4 percent), and consulting services (13.4 percent).
Check out our guide to the highest MBA salaries in Los Angeles for more information.
Georgetown Launching Leadership Fellows Program This Winter
Georgetown University has announced a Leadership Fellows program for students enrolled in the McDonough School of Business’ full-time MBA program. Open to second-year MBAs, the new program will launch in January 2018.
The fellowship’s first cohort is made up of 26 students and takes place over the course of two modules: a coursework module and then a leadership module. Each student must take the Coaching High Performance Teams and Advanced Coaching for Leadership Fellows classes before coaching teams of first-year MBA students through their required Leadership Communications course, and the Executive Challenge final exam.
While coaching their fellow business students, fellows will receive guidance from executive coaches to advance their skills and develop their own expertise. Among these educators and executives is Evelyn Williams, the McDonough Professor of Management and program leader.
“The program encapsulates the Jesuit principles of leadership and service to others. Fellows will be responsible for the development and maximizing the learning of their first-year student teams,” Williams said.
“Think of it as infusing the culture with 26 highly trained executive coaches, and they’re now going to be let loose,” she said. “The sky’s the limit in terms of the impact they’ll have.”
Erin McDowell Morton (MBA’18) is among the students accepted in the fellowship’s inaugural class. Morton is excited to work together with others who are also interested in giving back to the McDonough community.
“The structure allows us to practice the concepts we’re learning in class and build leadership skills that will make us better employees, managers, and members of the community,” Morton said.
McDonough’s full-time MBA is a 21-month, daytime program with one intake of students each year, and the fall semester begins in August. Along with fellowship opportunities like this, students are given the opportunity to participate in four residencies and study abroad opportunities.
Find out who the rest of the McDonough Leadership Fellows are here.
USC Marshall Alumni Honored by Southern California Leadership Network
USC Marshall School of Business graduate Darin Chidsey was recognized at the Southern California Leadership Network Visionaries Awards gala last month. Alumni of the Southern California Leadership Network’s (SCLN) fellowship program were honored at the event.
Chidsey earned his MBA in 2011 and twice graduated from the SCLA fellowship program, having completed the Leadership Southern California fellowship in 2008 and the California Connections fellowship in 2012.
“It is a great honor to be recognized alongside some of the region’s most admirable innovators and role models,” Chidsey said. “SCLN’s fellowship programs have been instrumental in developing a strong class of leadership for Southern California.”
Chidsey is currently the COO of the Southern California Association of Governments (SCAG), which is the nation’s largest metropolitan planning organization. SCAG represents 18 million people in 191 cities and six counties in Southern California. As COO, Chidsey is responsible for driving the agencies strategies and leading the implementation of new initiatives. He previously served as the organization’s director of strategy, policy and public affairs. Chidsey also serves on the SCLN board.
SCLN was founded in 1987 to train and develop a network of leaders in the business, government and community sectors of Southern California. The gala was held to celebrate the Network’s 30th anniversary. Chidsey was among 30 outstanding alumni of SCLN’s fellowship programs who were honored.
“Darin has demonstrated commendable skill and dedication to making a positive impact on the region, state and nation,” said Nancy Olson, executive director of SCLN. “His work exemplifies the SCLN mission of driving change.”
Other honorees included U.S. Representative Pete Aguilar; Los Angeles County Supervisor Mark Ridley-Thomas; Maria Contreras-Sweet, former administrator of the U.S. Small Business Administration; Juan Devis, chief creative officer for KCET; and Danielle Brazell, general manager for the City of Los Angeles Department of Cultural Affairs.
3 Washington DC Nonprofit MBA Programs You Need To Know
It’s fair to say that the finance and consulting industries are the most popular for business school grads. But what about non-profits and social enterprises—where do they rank? While some assume that an MBA and working for a nonprofit do not go hand-in-hand, that’s not the case.
According to Fast Company, the nonprofit sector is the third-largest segment of the U.S. workforce, employing more than 13.7 million people at 1.8 million organizations, accounting for 10 percent of the country’s total workforce. The sector is the seventh-largest economy in the world—with combined assets of nearly $3 trillion, the U.S. nonprofit sector is larger than the economies of Brazil and Russia, and its neighbor to the north is taking notice. According to Nonprofit HR, in 2015, 50 percent of nonprofits were hiring compared to just 34 percent of for-profits. Nonprofit wages have also increased by 29 percent between 2000-10 and continue to rise, and exciting jobs in the sector are perfect for MBAs.
Some schools run entire centers and initiatives dedicated to the idea of social change. Other schools offer social entrepreneurship coursework, concentrations and graduate certificates with their MBA program. Here’s our rundown of three nonprofit MBAs in the Washington DC metro.
George Washington University School of Business
Students enrolled in the GWSB MBA program may combine their advanced business degree with a graduate-level certificate. One certificate program offered by the school is the Graduate Certificate in Nonprofit Management. This program is intended for students hoping to advance their careers in the nonprofit sector, as well as students who want to expand their knowledge but who do not want to commit to a master’s degree program.
The certificate requires that students complete 12 credit hours and maintain at least a 3.0 grade point average in order to be awarded the Graduate Certificate. Sample coursework includes:
- PPPA 6031 – Governing and Managing Nonprofit Organizations
- PPPA 6032 – Managing Fund Raising and Philanthropy
- PPPA 6016 – Public and Nonprofit Program Evaluation
- PPPA 6033 – Nonprofit Enterprise
- PPPA 6034 – Managing Nonprofit Boards
- PPPA 6053 – Financial Management for Public, Nonprofit, and Health Organizations
- PPPA 6058 – International Development NGO Management
The Graduate Certificate in Nonprofit Management program is available at the George Washington University’s main campus in downtown Washington DC.. Certificate students enroll in regular courses of the Trachtenberg School and earn graduate credit. Regular graduate tuition and fees apply.
Kogod School of Business – American University
The Kogod School of Business at American University also offers a Graduate Certificate in Nonprofit Management. According to the school, the certificate provides those currently working in the nonprofit sector a program combining both academic rigor and skill set training to enhance their performance in this growing work sector, as well as a foundation for master’s degree students about to enter the field.
The certificate program requires 18 credit hours of approved coursework with at least 9 credit hours at or above the 600-level and encompasses course offerings from the School of Public Affairs, the Kogod School of Business, and the School of Communication, as well as select coursework from the School of International Service and the College of Arts and Sciences.
Sample coursework includes:
- ACCT-607 – Financial Accounting
- FIN-630 – Financial Analysis of the Firm: Concepts and Applications
- COMM-642 – Strategic Communication Management
- MGMT-609 – Management of Organizations and Human Capital
- MGMT-633 – Leading People and Organizations
- PUAD-681 – Managing Nonprofit Organizations
University of Maryland R.H. Smith School of Business
The UMD Smith Dingman Center of Entrepreneurship and Center for Social Value Creation offer several different venues and opportunities for students to explore social entrepreneurship. According to the school, the Center for Social Value Creation was founded in 2009 and aims to educate, engage and empower Smith students to employ business principles that help not just the bottom line, but also the world. You can learn more about the UMD Smith Center for Social Value Creation here.
Students can pitch business ideas with a social mission through the Center’s Pitch Dingman program, or receive support and resources for their own social enterprises. The Center for Social Value Creation offers graduate coursework in social entrepreneurship at both the undergraduate and graduate levels, and leads Social Innovation Fellows, a one-year program that gives Smith School undergraduate students hands-on opportunities to seek innovative solutions for social and environmental challenges through the application of business principles.
To learn more about using your MBA for a nonprofit career, take a look at our “Should MBAs Work in the Nonprofit Sector” post. Check out our list of the top 10 nonprofit MBA programs in the country for even more options and information.
