In the Media

Beat the GMAT
Newark, NJ
Tuesday, February 2, 2016

Beat the GMAT
It turns out 2015 was a GREAT year to graduate from business school … and 2016 is looking good too.

The business world increasingly sees MBAs as the key to company success, and this goes beyond the traditional fields like finance and consulting. Innovation is sweeping the healthcare and pharmaceutical industries, and in the process sweeping in MBAs who see working in Big Pharma as a way to change people’s lives for the better. The executive director of careers at Cornell’s Johnson School says recruitment for the industry doubled in 2015, though still small compared to other, more traditional MBA sectors.

Large firms like Johnson & Johnson and Bayer are leading the trend. “We see large firms and start-ups with hiring needs in supply chain, marketing, and finance,” says Dean Vera, director of career management at Rutgers Business School. He says the school’s biggest recruiter is Big Pharma.

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Science Daily
Newark, NJ
Friday, January 29, 2016

Science Daily

Two things people always need in life: food and love. According to psychologists, understanding the forces that drive both our hunger and our desire could help us eat healthier and have more satisfying relationships.

In Rutgers Business School's Dr. Kristina Durante's research on mate choice, she found patterns similar to food regulation: Encountering a potential romantic partner serendipitously (due to happenstance instead of deliberate choice characteristic of online dating) enhanced people's perceptions of future love, desire to see the person again, and sustained satisfaction over time. These effects parallel findings for food: encountering a food item in isolation versus amongst a choice set enhanced consumption.

"The rewarding nature of seeking and finding food and companionship share similar pathways in the brain," summarizes Dr. Kristina Durante. "Highlighting the parallels in choice behavior for each appetitive system, food and love, can lead to novel research that is poised to improve interventions that enhance relationship satisfaction."

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Outlook
Newark, NJ
Thursday, January 28, 2016

Outlook

The drop in Chinese stock threatens to produce a bearish environment around the globe. A long-term view suggests that fears of spillover effects and recession may not be justified. Instead, the world economy may actually benefit from China's successful transition from an economy emphasizing capital investment, exports and savings to one based on innovation, services and greater consumption.

Still, a combination of frugality and risk-taking in Chinese culture, along with negative real interest rates in bank deposits, has created huge bubbles in the Shanghai and Shenzhen stock markets for 2007 and 2015. These were bound to deflate — a process made worse by amateurism on the part of novice investors and regulators.

Investors should take the long view. The Shanghai stock market has yielded among the best returns in the world despite bubbles or wild run-ups in 2007 and 2015.
Farok Contractor is a professor in the Management & Global Business Department at Rutgers Business School.

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CityBizList
Newark, NJ
Thursday, January 28, 2016

Citybizlist logo

At its Annual Meeting and Real Estate Outlook, NAIOP New Jersey, the commercial real estate development association, elected its 2016 slate of officers and trustees.

NAIOP (National Association for Industrial and Office Parks) the Commercial Real Estate Development Association, has become the leading organization for developers, owners and investors of office, industrial, retail and mixed-use real estate.

Elected new trustee: Morris Davis, Academic Director of the Center for Real Estate, Rutgers Business School.

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BioSpace
Newark, NJ
Monday, January 25, 2016

BioSpace

New reports are suggesting that more and more life science and healthcare companies in the biopharma arena are hiring MBAs.

Percent of MBAs hired by healthcare

Although healthcare in general tends to hire fewer B-school grads than other areas, Cynthia Saunders-Cheatham, executive director of careers at Cornell’s Johnson School, indicates that recruitment in the health care sector doubled last year. The biggest movers and shakers in the area are Johnson & Johnson (JNJ), Bayer (BAY), and Genentech (RHHBY).

“We see large firms and start-ups with hiring needs in supply chain, marketing, and finance,” Dean Vera, director of career management at Rutgers Business School, told BusinessBecause.

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Newark, NJ
Tuesday, January 19, 2016

The Conversation

Plunging Chinese stocks have been sending worsening ripples across global markets all year, prompting fears of spillovers and recessions.

China’s Shanghai Composite Index lost 8 percent last week alone and is down more than 20 percent since a recent high in December, putting it in bear-market territory. That slide and the accompanying concerns about the world’s largest economy have sent stocks in the US, Europe and elsewhere into a tailspin. The Dow Jones Industrial Average and Standard & Poor’s 500 are both down 9 percent for the year.

This isn’t the first time in recent memory that tumbling Chinese stocks cascaded across the globe following a sharp rise. The same thing happened last May, in part because China is in the midst of a difficult transition from an economy emphasizing capital investment, exports and savings to one based on innovation, services and greater consumption.

A byproduct of this transition into a more mature economy is slower growth. Typically, as a nation progresses from poor to middle income – and from basic needs and manufacturing toward a service economy that includes more creativity and intellectual assets – growth rates naturally slow down for reasons economists do not fully fathom.

But what’s really behind all this angst, the booms and the busts? And are investors and traders right to be increasingly concerned about a global recession?

A longer-term view suggests the fears are misplaced: the world economy will actually benefit from a successful transition in China, despite a few bumps along the way.

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Newark, NJ
Sunday, January 17, 2016

Pittsburg Post-Gazette

It is hard to miss all of the Western hand‐wringing over China and its equity markets on the 24/7 financial news channels. Where was it written that the rest of the world was entitled to a double‐digit rate of return out of China, year after year, in perpetuity? Investing 101 tells us that past performance is no guarantee of future results.

And yet, incredibly, the American business media that are diagnosing what China's regulators should do are the same outlets that missed the great mortgage‐backed security fiasco that took the global economy to the brink of disaster in 2008.

Nowhere was there a more perfect distillation of this petulant Western investor sentiment over China's misfortune than The New York Times editorial headlined "China’s Obsolete Economic Strategy," in which the paper took the Chinese to task for "making so many mistakes" in handling their economy.

The aperture through which outlets like Bloomberg News and CNBC view the China stock market crash is entirely too small, because a broader view would collapse the editorial validity of their enterprise. Let's call it "big‐board myopia."

"China does not have a stock market problem," says Michael Santoro, professor of global business ethics at Rutgers Business School, and author of the book, China 2020: How Western Business Can and Should Influence Social Change in the Coming Decade.  "It has deep political, social, economic and environmental problems."

Failure to see this China crisis through Mr. Santoro's multidisciplinary prism is to miss the significance of what this moment means for China and, by extension, the world. It is not just about money.

Incredibly, in the hundreds of words that the Times' editorialists wrote on how China "turned what should have been a benign, natural slowdown into a chaotic
 descent" — a view common in the business press — the paper made no mention of the "red alert" air‐quality environmental emergency that has required the closing of schools and thousands of manufacturing facilities.

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NJBIZ
Newark and New Brunswick, NJ
Thursday, January 14, 2016

NJBIZ

U.S. News & World Report released its 2016 rankings for the best online graduate programs Tuesday.

This is the fifth year the publication has ranked online degree programs.

Rutgers, meanwhile, was recognized for its online business MBA. The university appeared on that list in a tie with Quinnipiac University at No. 14.

The nation's only advanced degree program in governmental accounting- the Master's in Governmental Accounting prepares graduates to take advantage of career opportunities in governmental accounting, auditing and finance. The online MS in Supply Chain Management offers the same high caliber and quality of a nationally ranked, solution oriented and leading edge face to face supply chain management program in a highly interactive and leading edge format to students across the globe.

View a complete list of the U.S. News & World Report 2016 “Best Online Graduate Business Programs.”

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Globe Advisor
Toronto, ON
Thursday, January 14, 2016

Globe Advisor

No stranger to entrepreneurship, MBA alumnus Desi Saran joined up with friends Robert Giuliani and Abby Taylor last year and helped them to win the top prize of $20,000 at the annual Rutgers business plan competition. By the summer, the year-old Playa Bowls business started by Giuliani and Taylor, was one of the busiest spots on the Belmar boardwalk and growing strong with Saran's strategic assistance.

Jan. 20 is the next deadline for prospective students to apply to the full-time Rutgers MBA program. (It is the final deadline for international candidates.) Remember, the earlier an application is submitted, the greater the chances of obtaining scholarship money.

Rutgers MBA alumna Tashni-Ann Dubroy's experience in the research laboratory and the classroom combined with her leadership and business skills landed her a position leading Shaw University. Read about Shaw's newest president.

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Peak Oil
Newark, NJ
Wednesday, January 13, 2016

Peak Oil

China’s regulators spent billions in just a matter of days to try to stabilize their own exchanges. Market watchers around the world held their breath as a Maalox moment become a Maalox week. If we did not know it before, the start of 2016 has made it increasingly apparent that the fate of the global economy, and our shared planet, is tied up in the future of China.

The world’s most populous country, and its second largest economy, China is at a crossroads.  Its Communist Party leadership has built a thriving economy based on exporting manufactured goods to the world at prices no one else can match. But that strategy has been paying diminishing returns in recent years, as Chinese production costs rise and new competitors grab a share of the market. But to keep their hold on power, the nation’s leaders need to keep money flowing to people who have had a taste of the good life.

“Since 1979 they have lifted 200 to 300 million people out of poverty and into the middle class,” Michael Santoro, professor of international business ethics at Rutgers Business School and a China expert, told WhoWhatWhy. “But we forget how many really poor people there are still in China. There are more people under the World Bank poverty line in China than the total number living in the United States.”

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FleetOwner
Newark, NJ
Tuesday, January 12, 2016

FleetOwner

Research by Arash Azadegan, Ph.D., a professor of supply chain management at Rutgers Business School, indicates that specific leadership qualities can more effectively speed recovery following a supply chain disaster.

Yet those skills sets shift depending on the supply chain "disaster phase" a company finds itself in, he argued during a presentation at the 95th annual meeting of the Transportation Research Board (TRB) being held this week in Washington, D.C.

"Because of JIT [just in time] practices, the Internet, and globalization, the 'dominoes' of the supply chain are now very close together – and the closer they are, the faster they fall," Azadegan said. "It's what called the 'ricochet effect.'"

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NJBIZ
Newark, NJ
Monday, January 11, 2016

NJBIZ

Leaving the corporate world is tough. Leaving the corporate paycheck is tougher.

According to Dean R. Vera, assistant dean and director of the MBA Office of Career Management at Rutgers Business School-Newark and New Brunswick, economic factors are pivotal in most students’ decisions to go back to school for an advanced degree.

"For us, the number of applications for prospective students goes down when the economy is doing well," he said.

"That isn’t true for all schools, but it is for us. It’s tough for people who are doing well professionally to make that decision to invest in going for the MBA rather than put it off for another year."

Vera said more than 90 percent of Rutgers’ full-time MBA students are there to make a career shift.

"Our students were once engineers, scientists, pharmacists, teachers, lawyers, doctors or ex-military," Vera said. "Nearly everyone here is an ex-something and has decided to pursue a career in corporate America. Nearly everyone here needs that MBA to make the paradigm shift in their career path."

In the Rutgers MBA program, supply chain is the most popular concentration for these career changers. Over the last five to 10 years, the supply chain program has grown to account for about 35 percent of students.

"The recession was one of the impetuses for the popularity of this program," Vera said. "Companies couldn’t raise prices so they had to find some way to squeeze a profit. That is where supply chain people have come in. Ten years ago, people were called buyers or purchasing agents. Now, they’re procurement managers."

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NorthJersey.com
Newark, NJ
Thursday, January 7, 2016

NorthJersey.com

Wrestlemania, Super Bowl XLVIII, and now, the Copa America Centenario. The Meadowlands Sports Complex attracts some large-scale events but the next challenge for local officials in the region is to figure out how to encourage visitors to spend more time here.

Marc Kalan, an assistant professor of professional practice at Rutgers Business School, whose expertise is in marketing, views the region as a destination for events. Kalan expressed doubt as to whether the region could ever be a multi-day destination without something like a convention center. With a venue like that, other facilities in the region can be marketed.

"The Meadowlands needs to be big and bold and brash," Kalan said before throwing around some potential slogans to position the region, like "New Jersey's Big Event Venue" or "Excitement on this side of the river" similar to the way Madison Square Garden is "The world's most famous arena."

If the desire is for the Meadowlands to be a destination in and of itself, it needs to have an image. In marketing terms, there is product differentiation, which is the perception that a product is different from others, making it more attractive to a target market. Achieving this can be tough, Kalan said.

"And we're sort of stuck because we're next to this big apple," Kalan said.

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Princeton, NJ
Wednesday, January 6, 2016

U.S. 1 Princeton Info

Many professions have codes of ethics that prevent its members from engaging in harmful, though legal actions. Every doctor takes the Hippocratic Oath.

Even lawyers have codes of ethics that obligate them to be honest and fair to all parties involved in a trial.

But what code of ethics restrains the actions of a business leader? While many companies have created their own codes of ethics, there is no code governing business people in general. The MBA graduation ceremony has no equivalent of the Hippocratic Oath.

That’s something that has never sat well with James Abruzzo, co-founder of the Rutgers Institute for Ethical Leadership. “There are certain things that define a profession, and business doesn’t have those,” Abruzzo says. “We need some kind of agreed-upon set of principles by which we can make decisions. One of the things that defines professions is a code of ethics, and there are hundreds of them.”

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Rochester, NY
Saturday, January 2, 2016

Democrat & Chronicle

They grew up in Rochester, but Ryan Marks and Cody Dalton never met until they both landed jobs at Brand Networks.

Dalton's job was to find great stock photos for companies to use on their social media accounts. Marks' job was to help manage clients. The two quickly realized they were having the same problem at work: Companies wanted authentic photos, not posed stock images.

Neal Schaffer is an expert on the business potential of social media. He said Instagram has spent the last 12 to 24 months becoming the second-largest social media network, behind Facebook. With so many eyes on the site, companies want to place more marketing there.

"Companies have moved away from stock photos for digital marketing," Schaffer said, "because an Instagram user will scroll the site, see a posed image and pay it no mind. Therefore, companies are hungry for images that look like Instagram pictures to keep the potential customer's attention."

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NBC News
Newark, NJ
Wednesday, December 30, 2015

NBC News

Twitter may be celebrating but not everyone is excited about Jeffrey Siminoff, the social media giant's new hire as Vice President of Diversity and Inclusion.

On Monday, Twitter announced Siminoff, a former Apple executive and a gay, white male, via the social media platform. Some see the hire as inconsistent with Twitter's messaging on improving diversity.

When Mark Luckie, Twitter's former manager of journalism and news, heard the news he said he was initially befuddled.

"Like others in the news and tech industries, I wondered why Twitter would hire a white male in a very public diversity position," told NBCBLK via email. "Jeffrey Siminoff has an impressive resume but for a company who is lacking in racial and gender diversity, it sends the wrong message to the public."

Nancy DiTomaso, Rutgers Business School distinguished professor of Management and Global Business, thinks the hiring of Siminoff could be a plus for Twitter.

"If Twitter wanted to give more attention to diversity and inclusion issues, it makes sense to hire someone with a background in dealing with these issues," said DiTomaso. "He is also someone with large firm experience, which should be a plus for a company that is just trying to get up to speed on diversity issues. He might be the right fit for tech companies that have global users of their products."

DiTomaso has researched issues of diversity since the early 1980s. Her 2013 book, The American Non-Dilemma: Racial Inequality Without Racism, highlighted the very issue Twitter and other companies face today -- the phenomena of white males being hired for the majority of available jobs.

"These are issues that need to be addressed so that they can rethink their approaches to diversity and can become more accountable about how decisions are made about who gets hired, promoted, offered good assignments, rewarded, etc.," she told NBCBLK via email. "Having someone designated to address issues of diversity, to pay attention to the outcomes of decisions with regard to hiring, promotions, raises, and so on should make a difference, because it introduces more accountability into such decisions. But it is not enough if it is only a symbolic gesture with no links to making structural changes and policy changes."

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Newark, NJ
Tuesday, December 29, 2015

International Newsmedia Marketing Association

Innovative companies are those that encourage professional and personal development on behalf of employees and accept that failures will happen. How will you do this in 2016?

One of the most compelling, frank, and, well, helpful perspectives on developing a culture of innovation actually doesn’t mention innovation. The Employee Handbook of New Work Habits for a Radically Changing World by Price Pritchett and Ron Pound references change. I recommend it as a short yet insightful perspective for organizations struggling to transition culture and employees to the new paradigm.

Bob Provost
Distinguished Executive-In Residence

Rutgers Business School
Newark, NJ

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Poets & Quants
New York, NY
Monday, December 28, 2015

Wondering what it’s like to be a student enrolled in the MBA program at Rutgers University? Learn more about the student experience during this interview with 2015 Rutgers Business School graduates, Katrina Garrier, Marketing, and Paul Rosiak, Finance, and Poets & Quants’ editor-in-chief John A. Byrne.

Don’t miss Rutgers’ one-on-one interview compilation featuring more from Katrina and Paul; Sharon R. Lydon, PhD,  Associate Dean and Director for MBA Programs; and Dean R. Vera, Assistant Dean, Director of MBA Office of Career Management.

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Rutgers Today
Newark, NJ
Wednesday, December 23, 2015

Rutgers Today

For decades, Rutgers University-Newark has offered seed grants to artists whose creations highlight the essence of the city.

One of the best-kept secrets about Newark is how it nurtures the arts. From the Robeson and other galleries at Rutgers University-Newark (RU-N), to the Newark Museum, to the majestic New Jersey Performing Arts Center and WBGO jazz radio, downtown Newark is humming with arts and artists.

RU-N is now injecting even more energy into Newark’s rich arts environment.

Arts and humanities programs make up a major portion of more than $4 million in “seed grants” that the chancellor’s office awarded in fall 2015 – for academic and cultural programs devised by RU-N faculty that are intended both to strengthen Newark communities and make the life of the city more integral to the university’s own scholarship.

Through another of the seed grants – obtained by faculty members Ian Watson, chair of the Department of Arts, Culture and Media; and James Abruzzo of Rutgers Business School – Rutgers University-Newark has made plans to launch a two-track Master’s Program in Urban Arts and Cultural Leadership.

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New York, NY
Monday, December 21, 2015

Bloomberg Business

Three Rutgers Business School students won the Institute for Supply Management national case competition in Orlando, bringing the top prize to Rutgers for a second year in a row.

The team of Diana Harriman, Sonali Shah, and Marchela Stancheva, all seniors majoring in supply chain management competed against students from Michigan State, Arizona State, the University of San Diego and Western Michigan.

"They're three pretty sharp students. They worked well as a team, and they spent endless hours practicing," said Paul Goldsworthy, assistant professor of professional practice who selected the students to represent Rutgers. "I am thrilled and proud of them and Rutgers."

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