Lehigh MBA Success, 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.
Extraordinary Outcomes for Lehigh’s 1-MBA and M2 Programs – Lehigh College of Business and Economics
This past spring saw Lehigh graduates from the College of Business and Economics’ inaugural 1-MBA (1-year full-time MBA) cohort, as well as the third cohort of its M2 (MS in Management) complete the transition from the classroom to the boardroom.
Employers like Tesla, QVC, and Hubspot snatched up 1-MBA graduates while Amazon, Bloomberg, IBM, KPMG, and more extended offers to nearly 80 percent of M2 graduates. This statistic is very much in line with figures from the 2017 graduates of the M2 program—96 percent of which were employed within three months of graduation by the likes of Deloitte, Vanguard, IBM, and Amazon.
You can read more about the recently Lehigh MBA success here.
School of Management Students Provide Support to Businesses Looking to Export – Binghamton SOM Blog
This semester, Binghamton SOM students took part in the six-month ExportNY “Launch into the Global Marketplace” program, a unique offering that adjunct assistant professor founding director of the Center for International Business Advancement (CIBA) Elena Iankova developed to help give “regional businesses [the] knowledge and resources needed to export their products.”
The basic idea that underlies the “Launch into the Global Marketplace” program is that students research, consult, and support the export plans of participating businesses. Iankova explains: “It’s a two-way street. The students provide the companies research assistance and consultation, and the companies provide the students real-life experiential learning opportunities, helping them develop their management research and consulting skills.”
The program is a partnership between the CIBA and the Alliance for Manufacturing & Technology (AM&T), the Global New York Program of Empire State Development, and the U.S. Commercial Service and the Small Business Administration.
One of the participating companies, Awestruck Ciders, “produces hard ciders from NY state apples” and hopes to export its product to the South African market. Co-founder Patti Wilcox writes: “We think it’s important to the local economy to expand our view of the market on a global scale. We’re fascinated by this idea of an international cultural exchange, and we think doing so commercially is very valuable.”
You can read more about the program here.
The Endless Scroll: How to Tell if You’re a Tech Addict – PC Mag
Just recently, PC Mag dropped its lengthy article “The Endless Scroll: How to Tell if You’re a Tech Addict,” written by Rob Marvin.
In the piece, Marvin highlights Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked from NYU Stern School of Business professor Adam Alter, who doesn’t mince his words when it comes to tech addiction.
“There’s a myth that there’s something different about people with addictions from people without addictions,” Alter explained in his interview with Marvin. “Right now, if you are a person who doesn’t have an addiction, does that make you in some qualitative or categorical way different from people who do? The more I’ve studied this, the more I realized that just isn’t true.”
“Right now, if you are a person who doesn’t have an addiction, does that make you in some qualitative or categorical way different from people who do? The more I’ve studied this, the more I realized that just isn’t true.” – NYU Stern professor Adam Alter, interviewed by PC Mag / Photo via PC Mag
You can read more from Marvin’s excellent piece, out now, over at PC Mag.
HBS Reviews Elon Musk’s Compensation Plan, and More – Boston News
In case you missed it, let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
Elon Musk’s Unusual Compensation Plan Isn’t Really About Compensation at All – Harvard Business Review
Harvard Business School faculty member George Serafeim, the Jakurski Family associate professor of business administration, recently published his insight into the compensation package Tesla shareholders awarded CEO Elon Musk this year—“likely the largest compensation package ever awarded to a CEO.”
Serafeim argues that the design of the compensation plan and its announcement were about “signaling a credible commitment to Tesla’s purpose: to become a clean energy giant that helps address climate change by transforming mobility. To get there, Musk needs not only the normal sort of investor confidence, but also for investors to buy into his radical vision for the company.”
Serafeim further explains:
“Musk’s compensation plan, with its ambitious targets for market capitalization, focuses the mind on exactly this vision. For Tesla to reach a $650 billion valuation by 2028, the market will have to shift dramatically, with electric vehicles becoming the overwhelming percentage of all new sales. That would boost Tesla revenues from both vehicles and batteries. Such a future would also likely require that Tesla’s autonomous pilot technology becomes state-of-the-art, allowing it to be used safely and widely in Tesla vehicles but also potentially through licensing by other players.”
You can read more about Serafeim’s insight here.
Finance by Day, Pro Soccer by Night – Carroll School of Management News
The Boston College Carroll SOM recently profiled Issey Maholo ’07, a polymath who spends his days as VP of prime brokerage for J.P. Morgan and his nights as goalie for the Hong Kong Football Club.
Maholo, a native of Tokyo born to a Congolese father and Japanese mother, writes, “There will be plenty of excuses you can make in life as to why you should stop doing what you love to do.” He also notes the parallels between his vocation and avocation, particularly when it comes to teamwork:
“One person can shape a game, but usually not a whole season. It’s the same in finance—someone can bring in a big mandate, but you all have to pull together to become the top bank in Asia.”
You can read more about Maholo here.
The Quest for Error-Free Care – Sawyer Business School Blog
The Suffolk University Sawyer Business School recently hosted a panel discussion sponsored by the Suffolk University Chapter of the Institute for Healthcare Improvement (IHI), which touched upon “trends in the industry, patient safety, how the patient experience has improved over the decades, job-hunting advice, and many other subjects.”
The talk featured three Boston health care leaders: Lahey Hospital and Medical Center Chief Quality and Safety Officer Dr. Judith Melin; Mass General Hospital Associate chief quality & safety officer Mary Cramer; and Professor Elizabeth Turner, a nurse-attorney whose practice focuses on health care law.
Professor Mona Al-Amin, faculty adviser to the IHI group, writes, “The importance of this event was that students learned about quality improvement in healthcare organizations. They also got to ask questions about the field. And they got to learn about career choices and what skills they might need.”
You can read all the takeaways from the discussion here.
How to Turn an MBA into a Career with Tesla
Tesla, Inc. founder and the tech entrepreneur world’s newest shining beacon Elon Musk, a graduate of the Wharton School at the University of Pennsylvania, once pessimistically said, “As much as possible, avoid hiring MBA’s. MBA programs don’t teach people how to create companies … our position is that we hire someone in spite of an MBA, not because of one.” Continue reading…
MIT Professor Talks Disruptive Potential of Self-Driving Cars
Few modern incarnations have such a high-level of disruption than self-driving cars. MIT Sloan recently took a look at the potential impact.
Last month, the House passed the “Self Drive Act,” which establishes a “federal framework for regulating self-driving cars.” This legislation permits 25,000 self-driving cars on the road annually between now and 2020, followed by 100,000 per year after that.
Sloan professor David Keith, whose research explores emerging automotive technologies, says self-driving cars have “the potential to change the whole paradigm of vehicle ownership.”
According to Fortune, most cars are parked 95 percent of the day. Shared self-driving cars would save car-less consumers money, create less congestion on the roads, reduce commute times, and offer mobility for folks who otherwise can’t drive—“teenagers; people who are sick; those who have lost their license; and the elderly.”
As job opportunities open up for people as a direct result of self-driving cars, it’s likely the ubiquity of autonomous vehicles will put bus drivers, as well as the 3.5 million truck drivers, out of work. Keith puts an optimistic spin on the development, believing there is still a need for human involvement, “whether it is for loading and unloading freight on trucks or ensuring the safety and comfort of passengers on buses.”
The article points out that the House will impose minimal oversight on self-driving car manufacturers due to the fact that autonomous vehicles will significantly reduce the number of motor accidents, which topped 40,000 in 2016, according to the New York Times. Autopilot-activated Teslas reduced the likelihood of crashes by 40 percent, according to data.
Keith concludes, “To ensure that self-driving cars can reliably make good decisions, even in situations they’ve never before encountered, we need to get more self-driving cars on the road.
Haas Sharing Economy Study Explores How Manufacturers Can Adapt
New working research from the Haas School of Business at UC Berkeley suggests that the sharing economy might actually be more beneficial to manufacturers than previously thought.
Inside the McCombs MBA Classroom: The Power of Information Technology
One of the best ways to get to know an MBA program is to sit in on a class. While the classroom is just one aspect of the business school experience, a class visit offers a valuable preview of the learning environment, instructor expertise, student interaction and quality of discussion.
Unfortunately, not many MBA candidates have a chance to attend a course before landing on campus. That’s one reason that the University of Texas at Austin McCombs School of Business began offering a detailed write-up describing one of their popular MBA classes. Continue reading…
