Friday News – Vanderbilt Celebrates Social Causes, New Influencer Research at Johns Hopkins, and More
Let’s take a look at some of the biggest stories from this week, including Net Impact Week’s arrival at Vanderbilt, and new Johns Hopkins research on Instagram influencers.
Net Impact Week Celebrates the Intersection of Leadership and Social Causes – Vanderbilt News & Events
Vanderbilt’s Owen Graduate School of Management celebrated Net Impact Week with a series of events and initiatives in collaboration with the Turner Family Center for Social Ventures, a student-led organization that seeks to alleviate poverty via market based solutions.
Beginning in late March, the week’s events included volunteer shifts at Tennessee’s Second Harvest Food Bank, pledges for greater sustainability efforts, and lunch and learn sessions. Among the long and short term goals that students stated in their pledges were reduction in water usage, use of sustainable transportation around campus and beyond, and reducing their consumption of meat and other animal products.
The Social Enterprise Consulting Showcase served as one of the lunch and learn events. Two teams, comprised of an ethically produced fashion brand and an urban farming project, presented their plans to an audience of student peers, sustainable business leaders, and faculty members. The week culminated in a presentation from students who had recently traveled to Ethiopia and Guatemala to engage in social impact work with local communities.
Click here for more on Owen’s Net Impact Week.
Internet Experts Who Attract Paid Advertisers Run the Risk of Alienating ‘Followers’ – Carey Business School News & Views
Itay Fainmesser, a professor of economics at Johns Hopkins’ Carey Business School, recently published research on how online influencers maintain followers within the fiercely competitive world of social media.
Influencers, he observes, must balance their profiles with both original and paid content in order to maintain the loyalty of their followers. “Followers developed loyalty to influencers they considered authentic. Influencers had to find the right balance between paid and organic content, so they could be paid but not lose followers to competing influencers.” Fainmesser further notes that the competition between influencers has tended to create higher quality recommendations for consumers.
Regulatory measures that had, since the 1960s, only applied to TV and radio, have only recently begun to address online platforms. According to the regulations, influencers, like those involved in the Fyre Festival debacle in 2017, must clearly reveal the portions of their content that are sponsored. In order to prevent consumers from simply moving on to a site with more organic content, the sponsored content must be appealing to viewers. Faimesser suggests in his research that improving search technology is the future of improved user experience.
In the lead up to the disastrous 2017 Fyre Festival, Instagram influencers effectively marketed the event without relaying that their posts were sponsored.
“The solution,” Fainmesser says, “is not to regulate influencers or marketers but to improve search technology to better match followers to influencers, whether they are sponsored or not.”
For more on Fainmesser and for a link to his research, click here.
From the Classroom to the Airwaves – Tuck School of Business News
Sydney Finkelstein, Professor of Management at Tuck School of Business, and leader of its Executive Program, and best-selling author, has turned his attention to a new podcast.
The Sydcast will feature interviews with influential people—thinkers, entrepreneurs, and even local small business owners—who frequently have a connection to Dartmouth but may be ‘under the radar.’
Best-selling author and Tuck School of Business professor Sydney Finkelstein recently jumped on the podcast wagon, launching The Sydcast.
“I’ve made a living out of asking good questions—in the classroom and in my research,” Finkelstein says, “so why not draw on that experience to create enjoyable content that can also give listeners new insights to business, careers, and how we live day to day?” He hopes to avoid the usual talking points of business leaders, such as management strategies or numbers, in favor of learning about his guests on a more personal and intimate level.
Finkelstein’s approach, he says, is to not rely heavily on research, but to intuitively let the conversations unfold.
“I try to approach it in the same way as you might when you know someone well, when you can really talk.” One of The Sydcast’s first featured guests was Deb Shinnlinger, the owner of Dartmouth’s mainstay coffee shop, Lucky’s. Finkelstein considers President Obama and Michael Jordan among his dream guests.
To subscribe to The Sydcast on iTunes, click here.
Why Aren’t Startups Founded by Women Getting More Funding? – Columbia Business School Press Releases
Collaborative research between Columbia Business School and the London Business School reveals that women-led businesses are 63 percent less likely to receive venture capital funding than those led by men.
Assistant Professor of Business at Columbia, Jorge Guzman, and Aleksandra Kacperczyk, Associate Professor of Strategy and Entrepreneurship at LBS, examined choices made by entrepreneurs at the founding stages of their efforts, and by investors at the point of funding. The team found that the disparity often originates in the type of businesses founded by women. Guzman says:
“Our study changes the focus of the gender gap in VC financing by showing that most of the gap is [high] up in the pipeline … While efforts to help existing women entrepreneurs are important, two-thirds of the issue is that we do not even see the women become entrepreneurs in the first place or start companies with the right underlying characteristics for attracting VC financing.”
The study focused on data in California and Massachusetts between 1995 and 2018. One of the conclusions Guzman and Kacperczyk drew was that female led businesses were often viewed by funders as ‘non-starters. That is, the ventures were not viewed as profitable to potential investors. Another conclusion was that if women do manage to get funding, their businesses are often as successful as their male peers.
The team also found that multiple interventions must be made to breach the disparity, including better education and training at each end of the spectrum for both entrepreneurs and investors.
For a version of the study that will be published in the journal Research Policy, click here.
Graziadio Business School to Host Spring 2019 Commencement – Graziadio Newsroom
Pepperdine Graziadio’s Spring 2019 Commencement Ceremony will take place on April 13 at 10:30 a.m. at the Firestone Fieldhouse on the Malibu campus.
Stasia Washington, MBA, ’13, Senior Vice President and Managing Director at financial services firm First Foundation, will receive recognition as a Distinguished Alumnus. Washington has won numerous awards for her accomplishments, including the Outstanding Banker of the Year from the LA Urban Bankers group and the National STEM Top Woman of Color in Finance award. After receiving her MBA from Graziadio, she graduated from UCLA Anderson’s Executive Leadership Institute.
At the First Foundation, Washington assists individuals, endowments, and non-profits with asset and portfolio management.
For more details on the upcoming Commencement events, click here.
Friday News Roundup – Fox Alum Promotes Financial Literacy, Haas Hosts Conference on African Business, and More
Let’s take a look at some of the biggest stories from this week, including Temple Fox promoting new financial literacy initiatives.
Fox Alumnus Offers Affordable Financial Literacy Programs to Philly’s Small Businesses – Fox School News
A Temple University Fox School of Business MBA alumnus has made it his goal to promote financial literacy through a new non-profit startup.
Thomas McDevitt, MBA ’02, formed Philly Financial Planning to offer underserved communities the tools to make informed financial decisions – tools which have not been available to these communities in the past. Philly Financial will seek to partner with various organizations to promote their cause and to implement programs.
McDevitt said, “Philanthropists, faith-based organizations, local government officials, community and neighborhood leaders, … corporations, learning institutions, and financial [institutions] can all play a meaningful role in helping us to achieve our long-term strategic goals of closing Philadelphia’s wealth gap”. In conjunction with Philly Financial, McDevitt hopes to form ‘The Eagle’s Nest’, a Shark Tank style competition series geared toward inner city entrepreneurs.
Education on financial matters has been McDevitt’s focus since his time at Fox. He formed McDevitt & Kline, LLC, with another Fox alum, Dr. Bill Kline, to offer continuing education to attorneys and CPAs.
Programs like his are necessary, because, as he says, “The financial literacy programs that exist in Philadelphia today are definitely not addressing the root causes of generational poverty.”
Africa Business Forum to Focus on Opportunity, Innovation in a Growing Economy – Haas Newsroom
The University of California, Berkeley Haas School of Business will host the 5th Annual Africa Business Forum, entitled “Africa on the Move: Enabling Homegrown Innovation,” on April 6, 2019.
The factors at work in Africa such as rapid growth and a youthful population make it appealing for existing companies and startups alike, as well as for investors.
Cheikhou Diaw, MBA 19, co-chair of the event, says, “There are billions of opportunities[in Africa]. Making people aware of those opportunities is something I’ve been trying to do since I joined Haas … It’s really important for us to make sure that people in the Berkeley community and the Bay Area understand that Africa is more than a place with safaris or a place full of poverty and disease.”
Of utmost importance to the chairs of the conference was focusing upon ways in which policymakers and leaders of business can support the growth of economies in the most beneficial and responsible ways. The conference will be comprised of panel discussions, keynote talks, and a hackathon on public policy innovation. Among the forum’s guests will be Andile Ngcaba, founder and chairman of the investment group Convergence Partners; Benjamin Fernandes, founder of fintech company NALA; and Nichole Yembra, founder and managing director of The Chrysalis Company.
Rutgers MBA in Supply Chain Management Leads to Opportunities to Work in Canada – Insights & News
Rutgers University Business School and the Supply Chain Management Association (SCMA) have joined forces to grant MBAs assistance in receiving their Supply Chain Management Professional (SCMP) designation.
This partnership will benefit MBAs seeking opportunities in Canada, as the SCMP designation is frequently required by Canadian companies as they search for qualified supply chain professionals. Christian Buhagiar, President and CEO of SCMA, says:
“Rutgers is the first U.S. university with which we’ve partnered to develop advanced standing pathways into our SCMP designation. Immigration is a key economic driver for Canada, supported by the Government of Canada, and creating international pathways to Canada’s most sought-after supply chain designation will open opportunities for those wishing to emigrate to work in Canadian supply chain management.”
Under the agreement, MBAs from Rutgers’ program receive exemption from certain SCMA workshops and educational modules as they pursue a SCMP designation. Andy Gogates, Manager of Corporate Relations at Rutgers Business School, was a major player in forming the partnership. He says, “It’s a testament to the strength of Rutgers supply chain management curriculum to so closely match the requirements for the SCMP designation … This is a real advantage for Rutgers MBA graduates looking for career opportunities in Canada.”
Harvard Business School Joins Farm Forward’s Leadership Circle – Harvard Business School Newsroom
Harvard Business School recently joined the Leadership Circle of sustainable agriculture non-profit Farm Forward.
Farm Forward works to promote awareness and access to food options that support humane treatment of animals and responsible farming practices. HBS joins Villanova University, UC Berkeley, and 12 other organizations as an institutional partner.
Leadership Circle members, according to Farm Forward Executive Director Andrew DiCoriolis, “practice the kind of values-based food purchasing that all institutions should strive for. Through thoughtful procurement policies, institutions like Harvard Business School meet growing consumer demands for more ethical and sustainable food by decreasing their carbon footprint and improving the welfare of farmed animals.”
The relationship with Farm Forward is part of a growing effort by HBS to implement sustainable practices across campus. Its alignment with Farm Forward will result in procurement of food products that are from certified organizations, along with the introduction of more plant based foods on the menus of the campus’ dining halls. Both dining halls are certified by the Green Restaurant Association, and leftover food is donated to Food for Free, which donates to shelters or to others in need.
The University of Texas McCombs School of Business and Moody College of Communication Join Forces with Blue Cross Blue Shield of Texas – Newswire
The University of Texas McCombs School of Business and Moody College of Communication will partner with Blue Cross Blue Shield of Texas to conduct research on administration of adult vaccines in two Texas counties.
The $500,000 grant will help advance research on issues that result in the ever rising cost of healthcare. The study, “Improving Adult Vaccine Delivery by Optimizing Clinical and Health IT Processes in Austin/Travis County, Texas” will be led by Dr. Leanne Field, a clinical professor at the College of Natural Sciences and director for Digital Health Care Innovation at McCombs.
Dr. Vince Fonseca, a physician specializing in public health and community based medicine, will also be part of the team. He says, “Vaccines are some of the most cost-effective, high-value health services available, yet adult vaccine coverage is suboptimal in the United States.”
The research team hopes to implement their findings to improve access to vaccines and other interventions at a lower cost to the consumers who most need them.
McDonough MBAs Visit Fair Oaks Farms For First-Hand Look at Sustainable Business
Last month, 18 Georgetown McDonough School of Business MBAs visited a sustainable dairy farm as part of Associate Professor Ed Soule’s Principled Leadership in Business and Society course. According to a press release, the class visited Fair Oaks Farms in Fair Oaks, Indiana to get a first-hand look on how sustainable businesses work. Continue reading…
Scheller College Professor Beril Toktay Honored for Work in Operations Management
L. Beril Toktay, a professor at the Georgia Institute of Technology – Scheller College of Business, was recently named as a Distinguished Fellow of the Manufacturing and Service Operations Management Society (MSOM).
Drucker Day 2016 to Focus on the Future of Mindful Business Practices
Claremont Graduate University’s Drucker School of Business will hold its annual Drucker Day event on November 5th. Guest speakers will address a range of topics, from the future of corporate retail to sustainable business practices.
Drexel Alum’s Eight Oaks Craft Distillers Possesses the Spirit of Sustainability
Before going on to pursue his MBA degree at Drexel University’s LeBow College of Business, Chad Butters (MBA, 2012) had spent twenty-five years in aviation, serving both in military and civilian industries.
After Drexel, Butters went on to head Lehigh Valley’s Eight Oaks Craft Distillers, a local, sustainable, spirits business. With Eight Oaks, Chad found a way to synthesize the skills he gained in the military and at Lebow.
