Babson MBA Alum Wins Virtual IAN Global Startup Competition for $250,000 in Funding
Finding funding for a startup isn’t easy. Not only are there few angel investors looking to fund early-staged startups, but time and distance can make it even more difficult to succeed on the fundraising path. That’s why Babson College F.W. Olin Graduate School of Business works together with the Indian Angel Network (IAN), India’s first and the world’s largest business angel network, to develop a new type of startup competition: the IAN Global Startup Competition.
“We are pleased to host such a vibrant initiative that demonstrated the breadth of talent and truly innovative ideas being created by Babson startups,” Padmaja Ruparel, co-founder of IAN and Founding Partner of the IAN Fund, says in a press release.
“For more than ten years, IAN has worked to advance the transformative power of entrepreneurship across the globe, opening the door for emerging businesses to draw on in-depth operational and strategic mentorship.”
Wage Transparency, Rideshare Payouts, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Wage Transparency Works: Reduces Gender Pay Gap by 7 Percent – Columbia Business School
New joint-research from members of the Columbia Business School, INSEAD, the University of Copenhagen, University of North Carolina Kenan-Flagler Business School, and Cornell’s SC Johnson College of Business finds that wage transparency can help close the gender pay gap
Columbia’s Daniel Wolfenzon and his co-authors examined the effect of a 2006 requirement for Danish companies to report on gender pay gaps.
“What surprised us the most was the way in which this wage gap closed. Women’s wages did not increase at a faster rate in treatment firms as we were expecting. Instead, we find that men’s wages in treatment firms grew slower relative to men’s wages in control firms. As a result, the total wage bill grew slower in firms that were required to report wage segregated statistics,” Wolfenzon says.
“What is interesting is that the law has unintended consequences on women’s ability to climb up the corporate ladder and their willingness to join the labor market. When firms adopt fairer wage practices towards women, this can have positive effects on women’s labor market outcomes that go well beyond pay gaps,” UNC Kenan-Flagler Assistant Professor of Finance Elena Simintzi says.
You can learn more about the wage transparency research here.
Market-Driven Drivers: Dynamic Payout Ratio Means More Money, Less Wait – Binghamton School of Management
With the rise of on-demand services from ridesharing, we have become accustomed to getting what we want, when we want it. Binghamton University School of Management Assistant Professor of Supply Chain Management Jiaru Bai knows the secret to discovering how to handle impatient customers: data.
“Having a dynamic payout ratio almost always performs better than a fixed payout ratio, according to our model and data analysis,” says Binghamton Assistant Professor Jiaru Bai / Photo via Jonathan Cohen
Bai and her fellow researchers analyzed rides from Didi, China’s largest on-demand ride-hailing service platform. They found that the optimal solution is to flexibly determine the payout percentage, rather than adhere to a rigid, fixed rate.
“Basically, when demand is high, providers should get paid a higher percentage, and when demand is low, providers should get paid a lower percentage. Having a dynamic payout ratio almost always performs better than a fixed payout ratio, according to our model and data analysis, and it leads to benefits for all involved,” Bai says.
You can read more about the ridesharing research here.
New Research Shows U.S. Consumers Prefer Brands that Support Refugees – NYU Stern Experience News & Events
According to a new report titled “How Helping Refugees Helps Brands” from the NYU Stern School of Business and the Tent Partnership for Refugees, American consumers are more likely to purchase from brands that support refugees. This includes brands that hire refugees, deliver services to refugees, invest in refugee entrepreneurs, and source from refugee businesses.
“This report shows that consumers will reward brands that support refugees,” says Gideon Maltz, Executive Director of the Tent Partnership for Refugees.
“In a crowded marketplace, brands that integrate refugees into their business can distinguish themselves from their competitors, especially among millennials. This is a clear demonstration that brands can do well by doing good.”
The Tent Partnership for Refugees, founded by Chobani’s Hamdi Ulukaya, is mobilizing the private sector to improve the lives and livelihoods of more than 25 million refugees. Ulukaya launched Tent with the hope that the private sector is uniquely positioned to address the global refugee crisis, mobilizing networks, resources, innovation, and the entrepreneurial spirit of the business community. There are over 100 companies in the Tent Partnership supporting refugees across 34 countries, which can be found here.
Professor Tülin Erdem, co-author of the report and chair of NYU Stern’s Marketing Department adds, “It impacts brand image and consumer brand purchase behavior positively.’
“This is consistent with current consumer (especially the millennial consumer) preferences for brands that take a strong stance for social issues and consider the welfare on multiple stakeholders, including the society at large.”
The full report can be accessed online. For more, check out the recent NYU Stern article here.
The Best Business Schools for a Career in Project Management
Broadly defined by the Project Management Institute, project management is “the application of knowledge, skills, tools, and techniques … to meet a project’s requirements.”
A successful project comes to fruition only with the leadership of someone who is trained in time management, resource allocation, negotiation, conflict resolution, and budget planning. These are all skills one can acquire with a project management focused MBA. Continue reading…
Working in Healthcare? Rutgers Dishes New Advice – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Working In Healthcare? Here’s How to Stay Relevant – Rutgers Business School News
The Rutgers Business School recently shared five reasons its Masters in Healthcare Services Management is the “answer for professionals … who want to up their game with analytic skills, leadership development and business knowledge.”
- Analytical skills are a necessity: “Data provides critical insights needed to inform better decision-making and improve operational efficiencies.”
- It’s all about delivering value: Stay “up-to-date about changes in health care and…value-based practices that ensure quality services.”
- Empowered to bring about change: “Students learn what it takes to change practices, make operational improvements, and be effective leaders.”
- It’s not as hard as you think: “Many courses can be taken online to supplement time in the classroom. And students are able to waive up to six credits for eligible work experience.”
- Hands-on learning: “Students in the program are required to complete a capstone project that gives them a chance to work with a real healthcare provider on an actual problem.”
You can read more from the recent RBS article here.
Answering the Call for AT&T: Interns’ Insights Add Value at Company’s Indian Operations – Stevens Institute of Technology School of Business News
The Stevens Institute of Technology SOB blog recently highlighted some positive accolades from AT&T Business’s senior VP of Service Excellence Paul Rosenbaum, specifically regarding the company’s longstanding history with Stevens.
Rosenbaum expressed his pleasure with the Business Intelligence & Analytics students who interned at the company’s office in Hyderabad, India this past summer. “We know the quality of the students, and many of our executives are Stevens alumni. My team in India and my team in the U.S. were really impressed with these students’ capabilities,” he says.
He explains that because “Stevens business students are bilingual in business and analytics [they are] well suited to leading technical teams.”
Five Stevens School of Business interns, alongside several colleagues and AT&T employees, from the company’s Hyderabad office / Photo via stevens.edu
Of the experience in Hyderabad, Sanjay Pattanayak, ’18, writes, “This is the first place I’ve worked where equal opportunity is given to individuals to bring ideas to the table or suggest solutions, rather than just top-down leadership.”
“Having that independence, and being encouraged to put your ideas into action, enables the development of you as an individual and strengthens the organization.”
You can read more about the school’s program and Rosenbaum’s observations here.
Lehigh Announces New Philly Focus for Flex MBA – MetroMBA
Next Spring, Lehigh’s Flex MBA program will unveil two non-degree courses developed by the MBA Test Drive Program for prospective students at the school’s Center City Philadelphia location (1800 JFK Blvd).
“From Plan to Action: Strategy and Organization” will investigate “business model development in today’s competitive environment as well as the use of disruptive innovation in strategy development” while “From Private to Public Company: A Path to Exit” will survey the “considerations involved” in taking a company public.
You can learn more about the new Lehigh Flex MBA course offerings here.
Research Awards, Hackathons, Leadership, 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.
Four Executives Share the Essence of Leadership – Rutgers Business Blog
Citrin Cooperman partner Michael Napolitano moderated a discussion at this year’s Rutgers Business School CEO Evolution event between the following four executives:
- CEO and Angel Investor Braun Kiess
- MZM Construction and Management Owner and CEO Marjorie Perry
- Villa Restaurant Group President Biagio Scotto
- Yesterday’s Business Computers Cwner and CEO Tom Tsivgas
CEO Evolution is an annual platform for leaders to “inspire others in the business community.” This year’s guest speakers offered insights into their “challenges, mistakes, ambitions, individual strategies, and leadership styles.
Kiess talked about “what the next wave of college graduates will be looking for in their careers.”
“They don’t want to be just a cog in the wheel. They expect more from an employer than just a paycheck.”
You can read more from Rutgers Business News here.
Eyes on the Prize: Business, A.I. Skills Help Stevens Team’s Eye Health Entry Win Hackathon – Stevens Institute of Technology School of Business Blog
Stevens Institute of Technology School of Business’ Niraj Chaurasia, Medhavi Uniyal, and Vidya Sagar Polaki took home first prize at a one-day iCIMS hackathon last month, as well as prizes in Best Hack for Good and Best Use of A.I./Machine Learning, for a model that accurately “taught itself whether it was looking at a healthy or sick eye 90 percent of the time.”
The team used machine-learning techniques to build a “data set of healthy eyes, as well as eyes with various health problems, such as cataracts and glaucoma.”
Polaki explains that he hopes the team’s model might significantly reduce ophthalmology expenses and assist eye doctors in identifying eye problems.
“It costs, on average, $180 for an eye checkup in the U.S. So this would be a major cost savings. And when you visit the doctor, you have the data in hand, so you can be confident, have the right questions to ask and understand what remedy is available.”
You can learn more about the event here.
Economics Professor Receives Bright Ideas Research Award – Stillman School of Business News
Seton Hall University Stillman School of Business Professor of Economics Kurt Rotthoff received the Bright Ideas Award, which acknowledges faculty members “whose research significantly advances knowledge in their discipline area and delivers relevant findings to business practitioners.”
Rotthoff’s Journal of Sports Economics publication Structural Breaks in the Game: The Case of Major League Baseball, “analyzed nearly 150 years’ worth of Major League Baseball data [to] identify two significant eras: the free-swinging era, initiated by Babe Ruth, and the recent steroid era, marked by the increase of consistency in offensive power plays.”
Rotthoff explains:
“The research was exciting because it’s a method of measuring the performance of baseball players over time. Using batting statistics and some time-series statistical techniques, we determined certain points in the history of the sport that changed the entire game.”
You can learn more about Rotthoff’s research and award here.
Amazon HQ2 Reportedly Moving To Virginia, NYC
Nearly a year after the initial announcement of a new headquarters, Amazon has decided where it’s next move is. Well, sort of. According to new reports, the newest Amazon site will actually be split and perhaps not be a headquarters at all.
