Rutgers Students Spark Social Entrepreneurship, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week, including Rutgers students jumping into social entrepreneurship.
Artificial Intelligence Gets Real – Stevens Institute of Technology School of Business Blog
Artificial Intelligence is now a $20 billion global industry and investment in AI is projected to triple in the next three years. AI is gradually reshaping many aspects of our daily lives right now. For instance, Apple’s Siri and Amazon’s Echo use AI-type processes, along with Google Maps and Translate. Notably, AI has become integrated into our transportation and medical systems, from self-driving buses, to diagnosing X-rays, AI has shown itself to be highly reliable for many processes.
Electrical and computer engineering professor K.P. “Suba” Subbalakshmi and founding director of SIAI (the Stevens Institute for Artificial Intelligence), asserts, “Simply put, our vision is to drive AI research and application that solves some of those tough ‘big’ problems that have so far resisted solving.”
AI will profoundly reshape society as we know it, but Subbalakshmi reassures the public,”It will permeate everything that we are doing, that’s a fact. But how it’s going to permeate sensibly and how that will affect our lives is in our hands, not the machines’.”
You can read more from the recent Stevens blog entry here.
Enactus Competition Sparks Student Interest in Social Entrepreneurship – Rutgers Business School News
Enactus is a group at Rutgers Business School that fosters social entrepreneurship as a way for students to empower their communities. Ben Foresti, a member of Enactus, worked with the chapter’s executive board to organize a social case competition that inspired a group of Rutgers students to create a unique high school-based incubator program to address food insecurity in New Brunswick.
“We thought a case competition would be a good way to introduce the wider public of Rutgers to social entrepreneurship,” Foresti says.
Foresti shares how he become involved in Enactus:
“While I was exploring clubs to join, I thought I wanted something that would give me good professional development and I was also looking to do something volunteer related. Enactus seemed like a good intersection of the two concepts. It offers professional development and there’s also the focus on improving your community in a sustainable way. It struck me as a perfect organization.”
Foresti reflects on his motivations for holding a social case competition. “We thought a case competition would be a good way to introduce the wider public of Rutgers to social entrepreneurship.”
You can find out more about the article here.
The Evolution of Wine Futures Pricing Research – Whitman School of Management News
Recently, professor Burak Kazaz of Syracuse University’s Martin J. Whitman School of Management delivered a talk late last year, offering faculty and Ph.D. students a closer look into his research on wine futures pricing. Kazaz’s research collected a range of data from New York to the Bordeaux region of France in order to to build a mathematical model that would predict wine futures prices.
During his talk, Kazaz provided an overview of the wine supply chain, which begins with the winemakers. He notes:
“It is important to note these wine markets do not sell only physical bottles of wine. They also sell wine futures. ‘En primeur,’ or wine futures, is a purchase method that allows distributors to purchase wine while it is still in the barrel before it is bottled.”
Kazaz’s predictive model has shown astonishing accuracy, with an average error rate of only 10 percent. Neil Taylor, vice president at Live-ex wrote to the team lauded Kazaz, “Your predictive model is certainly the most accurate I have seen of all of the work we have either done ourselves or participated with.”
Check out more from the recent article here.
A Stevens’ Therapy Startup for Trauma Victims, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Mobile Treatment Tools Can Change Way People Recover from Trauma – Stevens Institute of Technology SOB News
The Stevens Institute of Technology School of Business recently profiled Mira Therapeutics, a new homegrown startup that uses tech to “help patients manage their symptoms, and give therapists powerful new treatment tools.”
Co-founded by Stevens students CJ Internicola, Seth Kirschner, Gregory Mercado, Nicholas Gattuso, and Annika Roll, the startup’s interactive Mira mobile app “guides patients through crises like flashbacks, anxiety attacks, and dissociation using clinically-established grounding techniques.
Specially designed for veterans, sexual assault survivors, police officers, medical providers, and many other people living with trauma, Mira also records progress by “automatically tracking symptoms and suggesting daily journal prompts.”
Internicola writes, “There are thousands of mobile apps on the market that improve mental health. We are creating technology that addresses problems unique to people living with PTSD. Mira is positioned to become a holistic improvement in the way people recover and grow from trauma.”
“We want to create technology that improves everyday life, translates into better therapy sessions, and ultimately, ameliorates suffering.”
You can find out more about the therapy startup here.
Democratizing Finance and the Unexpected Future of Fintech – Gabelli Connect
PayPal CEO Dan Schulman recently visited the Gabelli School of Business to share his insights about fintech at an event co-sponsored by the Gabelli Center for Global Security Analysis titled “Democratizing Finance: Expanding Access Through Fintech.”
Schulman told the audience, “We have a mission, which is democratizing financial services. It’s very inclusive [and it’s] about all citizens having access to the digital economy…probably the most important value for us is inclusion and diversity. Because if we have a mission that includes all citizens, we need to represent that as a company.”
Center for Financial Services Innovation president and CEO Jennifer Tescher used the event as an opportunity to talk about diversity in fintech—or lack thereof.
“I would say that, why don’t we have more women anywhere? I think it’s a particular challenge in the world of engineering, which cuts across any tech. Why don’t we have more women in financial services, forget about fintech. I think it’s a huge problem.”
You can find out more about the recent event here.
Summit Explores Future of Selling in a Digital World – Rutgers Business School News
As part of a summit that focused on “the future of selling in the digital world,” the Rutgers Business School recently hosted two panels comprised of a diverse array of sales executives:
Panel #1
- Phil Cohn, Senior Vice President of U.S. Sales for Samsung
- Jeff Clachko, Senior Vice President for NBC Sports Ad Sales
- Gary Carleton, President of Sales-Healthcare for UPS
- Tolga Akcura, Co-Founder of eBrandValue
- Joel Silverman, Executive Vice President and General Manager of Synchronoss Technologies
Panel #2
- Rita Fawcett, Vice President of Cardiovascular Sales for Bristol-Myers Squibb
- Frank Palumbo, Senior Vice of Cisco’s Global Date Center Sale
- Rahsan-Rashan Lindsay, Executive Vice President, TV One
- Jim Sterbenz, Senior Vice President of U.S. Sales at Campbell Soup
The first panel “delved into the role of analytics, metrics and customer relationship management for sales professionals” while the second panel focused on the “challenges and opportunities in sales as a result of technology.”
The keynote speaker was Cocoa Exchange President John Wycoff who extolled the virtues of the growing gig economy, which forecasts to have 7.7 million workers by 2020 due in large part to the growth of digital sales tools.
You can find out more about the recent event here.
Finance Fraud Won’t Stop, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Don’t Let Artificial Intelligence Take Your Job – Rutgers Business News
The Rutgers Business School is slated to host a symposium this week entitled “Lifelong Learning in the Digital Era,” which will host LinkedIn, edX, Google, and McKinsey experts, among others, to “offer solutions to companies and individuals on how they can refresh their knowledge and skills and not become irrelevant in the new digital economy.”
Rutgers Dean Lei Lei says, “The pace of change in technology requires both management and the workforce to keep their skills current. Otherwise, they will lose out to competitors that have increased their efficiency and stimulated product innovation,” she said.
Rutgers Assistant Professor of Professional Practice and Symposium Organizer Leon Fraser adds, “Recent college graduates as well as seasoned executives must refresh their skills regularly or risk becoming irrelevant and disposable.
You can read more about the recent symposium here.
It Pays to Cook the Books–Even When You Get Caught – Columbia Business School News
According to new research from Columbia Business School’s Shiva Rajgopal and Dan Amiram, along with researcher Serene Huang, the risk of detection for cooked books is only about 25 percent, which means that “more than half of perpetrators—most often the CEOs and CFOs of major companies—could find it beneficial to commit financial reporting misconduct.”
Rajgopal writes, “Unless regulators improve their processes, research shows that financial reporting misconduct will continue to be an attractive option.”
Their study, “Does Financial Reporting Misconduct Pay Off Even When Discovered?,” finds that “stock market losses are an effective deterrent: analysis shows that the average cost of getting caught amounts to $26.7 million, with the notable hits coming via stockholding and forgone earnings, suggesting that the stock market and the labor market are generally effective at punishing perpetrators.”
You can read the complete study here and the full article from Columbia Business School News here.
Young Professionals Earn Binghamton University MBA While Pursuing Full-Time Careers in NYC – Binghamton SOM Blog
The Binghamton University School of Management blog recently highlighted its one-year Professional MBA (PMBA), which enables students to earn MBAs while simultaneously pursuing careers via Saturdays-only classes.
“The PMBA program is designed specifically for New York City-based young professionals who are looking for a step up without temporarily stepping out of their relatively new careers.”
Trevor Smith (MBA ’17) and current district sales manager for Mazda of Boston writes, “It’s so much more than being able to look at data and know what’s going on—we learned how to deliver an effective message and story based on the data.”
“I feel much more comfortable communicating with top decision-makers than before, and it prepared me to better manage both my personal and professional life.”
Laurice LuSane (MBA ’15) and Weill Cornell Medicine Fellowship Coordinator adds, “What I was learning made me feel ready for something new. I was ready for new challenges at work. I was given more opportunities to speak out, to plan, to manage and to show I was capable.”
You can visit the program page here and check out the entire Binghamton SOM Blog entry here.
NJ Monthly Mag Highlights Rutgers EMBA Doctors, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York City business schools this week.
NJ Monthly Mag Highlights Rutgers EMBA Doctors – Rutgers Business Blog
According to stats released by Rutgers Business School, it’s not uncommon to find between 1-5 doctors in a typical EMBA class. This is largely due to the new reality of the medical profession, which has increasingly required that doctors “transition from medical practice to running hospitals, managing hospital finances, heading-up HMOs, working for pharmaceutical companies and becoming Chief Medical Officers.”
Three Rutgers EMBA Doctors made New Jersey Monthly Magazine’s annual “Top Doctors” list:
- Clifford Sales, a vascular surgery specialist at Overlook Medical Center
- Eric Seaman, a male infertility specialist at the Urology Group of New Jersey
- Jacqueline Williams-Phillips, the medical director of the Pediatric Intensive Care Unit at Bristol-Myers Squibb Children’s Hospital at Robert Wood Johnson University Hospital in New Brunswick and associate professor of Pediatrics at UMDNJ-Robert Wood Johnson Medical School.
Learn more about these EMBA Superstar Doctors here.
Patagonia Exec Talks ‘Fast Fashion,’ Fair Trade, and What It Means to Be A Responsible Company – Gabelli Connect
The Gabelli School of Business‘ Center for Humanistic Management recently hosted a guest lecture from Vincent Stanley, the Patagonia director of philosophy, in which he talked about how corporate responsibility has directly shaped the company’s business.
“One of our big concerns is how we look at the challenges of the planet and ensure that our company is not contributing to those challenges and instead contributing to the solutions. Nature is not just where we go to play. The health of our natural systems underlines all of our social and industrial systems, even in this tiny little town where we were based.”
Vincent Stanley, Patagonia director of philosophy / Photo via fordham.edu
You can read more about Stanley’s lecture here.
Can Stevens Students Create a Cryptocurrency Exchange? Bank on It – Stevens Institute of Technology SOB Blog
A team of Stevens Institute of Technology School of Business seniors recently announced its plans to unveil Coin Complex, a cryptocurrency exchange designed to address and improve upon the limitations of the current trading options, at the May 2 Innovation Expo. George Engroff, a senior finance major who recently completed a summer internship with Credit Suisse, elaborates: “The exchanges I was using were completely inadequate—none of them gave you a good understanding of the market and your portfolio. So I thought, here at Stevens, we have a lot of smart people and innovators—I’m sure we could make a better exchange than what’s out there.”
The Coin Complex login / Photo via Tom Braunck
You can find out more about Coin Complex here.
How NYC Business Schools Help the Underprivileged Applicants
Pursuing an MBA is a shrewd move for anyone looking to earn a competitive salary right out of school. Though attending a renowned school can up the price tag of earning an MBA, it may also increase the overall return on investment. According to an article in U.S. News & World Report, “… graduates of top-tier business schools usually earn higher starting salaries than their peers who went to lower-ranked schools.”
It’s not jut the opportunity to have a lucrative job right out of school that makes a high starting salary appealing. An enviable starting salary could mean more earning potential down the line. However, a top-tier school may seem out of reach for low-income applicants. After all, how can you enjoy the return on investment if you can’t afford to invest in the first place?
Luckily, many prestigious business schools offer resources for students from different socioeconomic backgrounds. Below, we’ve outlined the resources available for low-income applicants at five of New York City metro’s best business schools.
How NYC Business Schools Help the Underprivileged
Columbia Business School
Columbia Business School offers need-based awards to many students, which may result in anywhere from $7,500 to $30,000 in tuition support. Nearly half of applicants receive need-based scholarships, which are automatically renewed at the start of the second year. Columbia students can also apply for private and federal loans. To create incentive for students to choose careers in public and nonprofit fields, the school offers a Loan Assistance Program for students who utilize their education to pursue these paths. Students are eligible to apply for this program for up to five years after graduation. Depending on the extent of students’ debt, they may receive anywhere from $2,000 to $10,000 of annual support. Columbia students may also receive merit-based scholarships, such as the Columbia Fellows Program, which may cover full or partial tuition and is granted to applicants with an outstanding track record in leadership and creativity.
Stern School of Business—New York University
NYU’s Stern School of Business offers a variety of scholarships for high-achieving applicants. According to the school’s website, nearly a quarter of students who enter the full-time MBA program receive a merit-based scholarship. There are also additional merit-based opportunities for students coming from different backgrounds and perspectives. Scholarships like the Advancing Women in Business Scholarship and the Forte Fellowship are particularly geared toward female-identifying students, to support women in business. The ROMBA Fellowship aims to help LGBTQ students succeed in business education. The Consortium Fellowship exists to increase the number of minorities such as Hispanic Americans, Native Americans, and African Americans in business school as well.
Gabelli School of Business—Fordham University
At the Fordham University Gabelli School of Business, graduate students may be eligible for federal financial aid, merit scholarships, or a variety of graduate assistantships. Awards based on academic excellence range from $10,000 to full tuition. Exceptional students may be eligible for awards like the Dean’s Premier Scholarship, which includes a $20,000 living stipend, and may include a stipend toward one of Fordham’s global programs. Students can also apply for a plethora of need/merit-based scholarships, like the Hitachi Diversity and Inclusion Scholarship, which seeks to help underrepresented minorities finance their education.
Rutgers Business School, Newark and New Brunswick
The Financial Times ranked Rutgers Business School among the top 50 MBA programs for return on investment in 2017, citing a 130 percent increase in salary for students within three years of completing their degree. Moreover, the school’s website states that, “More than 80 percent of Rutgers students receive some form of financial aid.” Moreover, at $31,011 per year (not including fees), this program is far more affordable than many other prestigious schools. Students can apply for federal or private loans, grants, and an array of scholarships. In addition to the awards offered by the Rutgers Business School Graduate Scholarship Fund, the Rutgers website lists 30 fellowships, scholarships, and partnerships. The Ralph Bunche Fellowships, for example, provide tuition remission, and a $15,000 living stipend to minority students from disadvantaged socioeconomic backgrounds.
SC Johnson Graduate School of Management—Cornell University
Around 30 percent of entering the SC Johnson Graduate School of Management students receive some level of scholarship support. Scholarships like the National Society of Hispanic MBA’s (NSHMBA) and the TOIGO Fellowship specifically seek to help underrepresented minorities. The MD MBA Dual Degree Program and Lee Family Scholarship supports students on the rigorous path to receive their MD/MBA. Additionally, Cornell’s Park Leadership Fellows Program awards full tuition to up to 25 MBA applicants annually. The award is granted based on personal and professional achievements, academic performance, social contributions, and leadership. Students can also apply for federal and private loans.
Gear Up For These January MBA Deadlines
The next round of MBA admissions is swiftly approaching, with the eve of 2018 almost here. Time to mark those calendars!
New York City
The NYU Stern School of Business, Columbia Business School, and Rutgers Business School, Newark/New Brunswick are the big headliners when it comes to deadlines in the New York City metro in January.
The Forham University Gabelli School of Business, and the Syracuse University Whitman School of Management Online MBA program also have deadlines in the first weeks of the new year. Click here for more information on upcoming New York City metro deadlines.
The third round for application deadlines to Cornell’s Tech MBA on its new Roosevelt Island campus arrives January 10, 2018.
Los Angeles
The biggest Los Angeles metro business school institutions all have a slew of deadlines ready to pass within the first weeks of the new year, including the UCLA Anderson School of Management‘s full-time MBA, USC Marshall‘s part-time program, as well as the Claremont University Peter F. Drucker and Masatoshi Ito Graduate School of Management‘s part-time MBA.
Take a look at the coming deadlines in the Los Angeles metro here.
Toronto
Two Toronto metro schools have deadlines in early January, with the Ivey Business School full-time, Accelerated, and EMBA deadlines all falling on January 8, 2018. The second round deadline to the University of Toronto Rotman School of Management‘s full-time MBA also falls on January 8.
Take a look at the coming deadlines in the Toronto metro here.
Chicago
Two of the most prominent business schools in the entire Chicago metro—Chicago Booth and Northwestern Kellogg—feature a bevy of full-time, part-time, and Evening MBA deadlines before January 10. As well, the Quinlan School of Business at Loyola University’s full-time MBA for its annual spring intake arrives on January 15, 2018.
Just outside of the city, on the near border of Indiana, the Notre Dame Mendoza College of Business’ second round deadline for its full-time MBA program is set for January 9.
Get familiar with the coming deadlines in the Chicago metro here.
The second round of deadlines for the Northwestern Kellogg part-time and full-time MBA programs arrives on Jan. 10, 2018.
Boston
In Boston, the heart of America’s higher education, every January is a major month for several of the country’s most prominent MBA programs. Indeed, Harvard Business School and MIT Sloan, as well as the Questrom School of Business at Boston University, the Carroll School of Management at Boston College, and Northeastern University’s D’Amore-McKim School of Business all have MBA deadlines right at the beginning of the new year for various MBA programs.
Take a look at the coming deadlines in the Boston metro here.
For updated deadline information in Philadelphia, Washington DC, Baltimore, Atlanta, Dallas, Houston, Denver, San Francisco, San Diego, Seattle, and London, click here.
