At the corner of Rutgers University’s Livingston Campus—the institution’s youngest of five campuses in or near New Brunswick, New Jersey—rests a passive solar gem: the Rutgers Business School building at 100 Rockafeller Road in Piscataway. With splayed columns playfully propping up the upper curtainwalled corridor and a bottom corner that is seemingly split open, the structure greets students as an embodiment of the Livingston Campus’s vision: to be a model of sustainable and responsible community development and to serve as the gateway to the remaining Piscataway facilities.
In a way, the design of the building’s three vertical sections—classrooms to the west, offices in the middle, and lounges to the east—signifies its program, moving from opacity to transparency. Nothing was conceived haphazardly; wide corridors and accessible spaces were designed to foster chance meetings, and even the stairs and restrooms were located close to areas where sidebar conversations might occur. By daylighting these “collaboration spaces” and ensuring that they all have views across the campus, Norten made them all the more attractive and accessible.
The new Rutgers Business School in Piscataway, New Jersey, is more than a collection of classrooms and offices. The building, designed by TEN Arquitectos, is a linchpin of the university’s Livingston campus, reconceived as an urban center for graduate studies and continuing education.
“It established a frame,” said project manager James Carse, whose firm created a vision plan for the campus starting in the late 2000s. “We were interested in really marking the edge of campus to motivate future development to respect the campus boundary, rather than allowing or suggesting that this was a pervasive sprawl. We wanted to make sure this would set a pattern where infill would happen.”
The Rutgers Business School’s tripartite envelope reinforces the distinction between outside and inside. While the sides of the building facing the boundary line are enclosed in folded anodized aluminum panels, the glass curtain walls opposite create a visual dialogue with the rest of campus.
Rutgers Business School officials say they've taken the first major step toward launching the real estate academic platform at the university's new Center for Real Estate Studies. The school has selected its new faculty chair in real estate — spurred by a $1.5 million donation by West Orange-based developer Paul Profeta — and plans to unveil its pick in the coming months.
That will mean someone focused on creating an MBA concentration in real estate at the state's largest university, one modeled after the elite out-of-state programs that now lure away many of New Jersey's best and brightest.
“That Profeta chair is here to get Rutgers to be the NYU and Wharton in New Jersey, for real estate,” said Ronald Shapiro, the center's executive director. “They want to have not only excellence in teaching, they want this to be a major research facility for real estate.”
iFunding (http://www.ifunding.co), America's real estate crowdfunding platform, today announced that its CEO, William Skelley, will speak as part of a panel discussion at the Second Annual New York Summer Apartment Summit, to be held at the Scholastic Building, 997 Broadway, in New York City on June 26.
For the panel discussion, entitled "Debt, Equity & Alternative Capital Sources: Analysis of the Myriad of Financing Strategies and Key Differences Between Traditional Banks and Emerging Solutions," Mr. Skelley will explain how crowdfunding is providing an important new source of finance for operators of multi-family residences and apartment towers.
The moderator of the panel discussion is Ronald M. Shapiro, director of the Center for Real Estate Studies, Rutgers Business School. Besides Mr. Skelley, other speakers on the panel include Ray Adkins, Multifamily Account Management, Fannie Mae; John Gambardella, Regional Manager of Chase Commercial Term Lending, Chase; Michael A. Gardner, Managing Director, CCRE; and Justin Levitt, Loan Officer, Prudential Mortgage Capital Company.
CaseWare Analytics announced today that it has donated $250,000 of technology and services to The Rutgers Accounting Research Center. The contribution will support the efforts of the Rutgers Continuous Auditing and Reporting Lab (CAR) to advance audit practices through the use of technology.
“Today, we lead the field in research in the areas of Continuous Auditing and Enhanced Business Reporting, and are constantly seeking solutions to take advantage of the Real-Time Economy,” said Miklos Vasarhelyi, director of Rutgers Accounting Research Center, Rutgers University. “The donation of CaseWare Analytics’ technology has been vital to our project’s development. In a world with rapidly growing data, our students will be prepared to view this environment as an opportunity to add tremendous value and insights.”
The Rutgers Accounting Web has been a leader of accounting and auditing research for the past two decades. The university is consistently ranked by the U.S. News and World Report as a top producer of Fortune 500 CEOs and job placements for MBA students.
Minority business accelerators have launched in a handful of metropolitan areas in recent years as local businesses, chambers of commerce and economic development groups work to create more jobs and improve the quality of life in their regions.
A key goal of the accelerators is to help minority owned-companies win contracts with large companies. Despite the rapid growth in the number of minority-owned businesses — over 45 percent between 2002 and 2007, according to the Census Bureau — they struggle to get business with major companies.
One reason for the disparity is that a small company may not have the infrastructure, such as computer systems, and the experience to operate on the level needed to fulfill a big contract, says Jeffrey Robinson, a professor of management and entrepreneurship at Rutgers University. He is working on the Newark accelerator.
"There's a leap you have to take from the five-person company to a couple hundred, to being a multimillion-dollar company. You can't run them the same way," Robinson says.
New Hope Borough Council President Claire Shaw would be well-advised to create some distance between herself and the borough’s review of the proposed four-story boutique conference center that investors want to build next to her property to avoid the appearance of a conflict of interest, say ethical experts.
Several colleges and universities with faculty specializing in political, philosophical, and organizational ethics were contacted to find out if they thought it’s a good idea for a public official to recuse themselves from consideration of project next door to their property to avoid the appearance of a conflict of interest.
James Abruzzo, co-director, Institute for Ethical Leadership at Rutgers Business School, said, “Public officials have a responsibility to every citizen to act in a disinterested manner. Inevitably, a governing body must decide on a situation that could benefit one of its members. In that case, there could be the appearance of a conflict of interest. I am not qualified to decide if something is illegal, but it could be construed as unethical. The best solution is for the person involved to declare his conflict; to provide input into the situation if asked; but to then remove himself from the voting process. This not only removes the conflict, it removes the perception of a conflict.”
Being socially responsible doesn't have to be on a grand scale, but in ensuring day-to-day processes are fair, safe and environmentally friendly, according to several speakers. Rutgers Professor Kevin Lyons, an expert in supply chain issues, said employee conditions is a topic that repeatedly comes up in his work. "Companies are in business to make money, but how are the people (workers) being treated," he asks. "Are they paid a living wage?"
Bruce Wrobel's body was found by a friend on Dec. 10, 2013, at about 1 a.m. in a Mercedes-Benz CLK550. Police called to the West 20th Street scene—a quiet, tree-lined stretch of townhouses in Manhattan's affluent Chelsea neighborhood—discovered suicide notes to family and friends. The New York City medical examiner concluded the 56-year-old poisoned himself inside the parked car with carbon monoxide by mixing sulfuric acid and other toxic chemicals.
Colleagues and friends were shocked and heartbroken. Why would Wrobel, a visionary businessman who succeeded through a forceful blend of hard work and passion, kill himself at the peak of his career?
And although Wrobel's accomplishments highlight the potential of enlightened capitalism to forge growth and better the lives of others, the issues that apparently contributed to his death show just how difficult it can be for even well-meaning people to navigate complex economic, social and political issues.
"What makes the whole thing sad is that in some ways he's emblematic of an emerging type of business person who understands that with power and wealth comes responsibility," said Michael Santoro, an expert on business ethics at Rutgers Business School. "He was a model of what we want business people to be like. But make no mistake about it—the kind of criticism [he was facing] is inevitable when we live in a world where we're expecting business to solve the problems that governments are supposed to."
A new study by the Center for Economic and Policy Research, which shows African-American college graduates are twice as likely to be unemployed than their white counterparts (PDF), is just another finding that speaks to the systemic unfairness of hiring practices, according to Nancy DiTomaso.
DiTomaso is vice dean for faculty and research at Rutgers Business School-Newark and New Brunswick and the author of, “The American Non-Dilemma: Racial Inequality Without Racism.” DiTomaso said that disparities between blacks and whites in terms of employment have been studied for decades: “The findings in this report are not necessarily new, but obviously they’re troubling,” she said.
“One of the reasons I feel this is the case has to do with the way whites help each other in terms of the job search,” she said. “Whites are disproportionately in positions where they have more authority, more decision-making ability – particularly in regard to who gets hired (and) who gets opportunities. Then if blacks are not in those same networks … they are less likely to get access to those jobs.”
The 6th Annual National Association of Women Business Owners - Central Jersey (NAWBO-CJ) Chapter Business Plan Competition, Supporting Emerging Entrepreneurs’ Development (SEED) was hosted on the Rutgers University New Brunswick - Douglas campus on Tuesday, May 20, 2014. The evening’s competition included the final five contestants with the best business plans who were selected from 38 New Jersey women entrepreneurs by a panel of notable judges.
Chris Pflaum, speaking on behalf of Rutgers' New Ventures & Entrepreneurship Group, expressed excitement about partnering with NAWBO-CJ on the S.E.E.D. event and recognizing women entrepreneurs in New Jersey.
Keynote speaker Jasmine Cordero, Managing Director of The Center for Urban Entrepreneurship & Economic Development at Rutgers Business School, offered attendees insight on business building when the entrepreneur is faced with draining challenges.
In the Huffington Post's TED Weekends, Professor Michael Santoro shares his impressions of Liu Bolin's technique in his art and social commentary about contemporary China and a TEDTalk that coincided with the 25th anniversary of Tiananman Square.
While automated investing startups have recently attracted plenty of venture capital (Wealthfront also raised a $35 million round in April, bringing total funding to $65.5 million), some experts express doubt that passive, automated investing platforms will be able to retain Millennials over the long term.
“To manage your money, you have to have a minimum level of expertise,” said Ravi Jagannathan, a co-director of the Financial Institutions and Markets Research Center at Northwestern University’s Kellogg School of Management. “[These platforms] are for really busy people who are trying to do things on their own.”
With that in mind, Jagannathan says more sophisticated investors may end up looking for asset-management services that are more hands-on.
“It’s hard to predict where they will go in the future,” he said.
And as Gen Y builds more wealth, it may need other services not currently provided by some of the startups in the field.
“There are some instances where having a human advisor makes sense. Like for high net-worth investors, their financial situation tends to be more complicated. Estate planning-type needs may not be dealt with effectively [by these startups],” said John Longo, clinical associate professor of finance and economics at Rutgers Business School.
Last month, Republicans in the U.S. Senate blocked legislation that would have used building codes to increase energy efficiency.
This theory ignores the reality of business in the post-Friedman era. On sustainability, in all its forms, the most successful businesses recognized their responsibility as corporate citizens and began acting on them decades ago.
Companies share a responsibility to all citizens, not just their employees and shareholders. The citizens and local governments allow the corporation to exist and thrive. They run the fire departments, teach the children of workers, and dry-clean clothing. The government provides all basic services necessary for the company to exist, including maintaining the roads between the private airport and the local headquarters.
“Ethical” corporations realize this and act accordingly.
Clearview Diagnostics, Inc. announced today that they have received FDA approval to market their imaging software system, ClearViewHD. The ClearView Image Enhancement System uses proprietary patent-pending technology to significantly enhance the ultrasound images used for breast cancer diagnosis.
Ultrasound imaging is especially useful in women with dense breast tissue, found in up to 50% of the female population and especially prevalent in younger women, where traditional mammogram screening can fail to find the cancer.
Clearview is uniquely positioned to collaborate with world-renowned hospitals, cancer centers and research facilities, as well as attract some of the most talented engineers and scientists in the country.
Minority entrepreneurs who feel their road to success is more difficult than others may not be imagining things.
Sterling Bone, an assistant professor at the Jon M. Huntsman School of Business at Utah State University, said research he has completed shows that entrepreneurs who are minorities face more obstacles to success and deal with the rejection they sometimes experience differently than their Caucasian counterparts.
Bone's conclusions were recently published in the Journal of Consumer Research, a top academic publication. He collaborated on the paper with Glenn L. Christensen, Garrett Research Fellow, and associate professor of marketing at the Marriott School of Management at Brigham Young University, and Jerome D. Williams, the Prudential Chair in Business and research director of the Center of Urban Entrepreneurship & Economic Development at Rutgers Business School.
“Therefore, it is appropriate to continue asking the question: 'Is the glass half empty, or is the glass half-full?' in terms of progress being made in eradicating discrimination in the marketplace,” Williams said. “If marketers continue to remain insensitive to racial and ethnic minority consumers, they run the risk of alienating these segments and, as a result, suffering severe economic consequences.”
"If you are white and set out to get financing for an entrepreneurial venture, it might be a tough journey," said study co-author Glenn Christensen, an associate professor of marketing at Brigham Young University. "But, generally speaking, you would experience fewer obstacles and find more help along the way than if you came from an African-American or Hispanic background."
"While racial and ethnic minorities have made significant progress in terms of race relations over the past several decades, the harsh reality is that there still are remnants of discrimination in society," said co-author Jerome Williams, director of the Center of Urban Entrepreneurship and Economic Development at Rutgers Business School. "It is appropriate to continue asking the question, 'Is the glass half empty, or is the glass half full?' in terms of progress being made in eradicating discrimination in the marketplace."
Nearly five years after the Great Recession officially ended, the struggles and dampened expectations of young college graduates have become a fixture of American politics and even popular culture. But amid all the focus on the difficulties of college-educated millennials, one facet of this upheaval has remained largely unexplored: the continued significance of race.
As a new crop of college graduates joins the American workforce, unemployment rates among minorities with degrees remain distinctly elevated and their economic prospects disproportionately dimmed, a new report (PDF) released by the Center for Economic and Policy Research has found.
In 2013, the most recent period for which unemployment data are available by both race and educational attainment, 12.4 percent of black college graduates between the ages of 22 and 27 were unemployed. For all college graduates in the same age range, the unemployment rate stood at just 5.6 percent. The figures point to an ugly truth: Black college graduates are more than twice as likely to be unemployed.
"This study—its findings, as terrible as they are—honestly should not come as a shock to anyone who is willing to face the truth about employment and unemployment in the United States," said Nancy DiTomaso, a professor at Rutgers Business School who studies inequality and organizational diversity.
The national debate over whether to raise minimum wages has stirred interest in where American companies stand on the issue. That curiosity perhaps is most intensely targeted at feel-good companies, which pride themselves on progressive practices. Do those companies match their upbeat branding with living wages?
"Companies that wish to project a progressive image for their brands for being environmentally friendly or supporting organic farming represent an equally important social barometer for pay equity," says Michael Santoro, professor of business ethics at Rutgers Business School.
"Can brands that cater to conscious consumerism extend their value proposition to help workers earn a living wage?" asks Santoro, who wrote about the widening disconnect between Main Street and Wall Street in his book, "Wall Street Values." He added, "The days of grooving to your iPhone and not caring that a worker manufactured that phone in a substandard factory are over."
Avolution, a leader in Enterprise Architecture software and solutions, today announced that Rutgers Business School has become the latest institution to join its academic partner program. Recently ranked as #10 on a list of the top 13 business schools in the USA, Rutgers Business School - Newark and New Brunswick, will be enhancing the Enterprise Information Architecture content of its Business Analytics and Information Technology (BAIT) curriculum with the help of Avolution’s enterprise modeling and analysis tool, ABACUS®.
Enterprise Information Architecture defines the way in which responsibility for information storage and processing is distributed throughout an organization, and understanding this topic is critical when making additions or changes to an organization's computing resources. The Rutgers Business School (RBS) BAIT curriculum introduces students to the techniques and tools for integrating enterprise applications, data, technologies and infrastructure with business capabilities and processes. Course content covers methods and models for Enterprise Information Architecture (EIA); reference architecture, open group architecture, service-oriented architecture, operational models, viewing information as a service, and conceptual frameworks such as TOGAF and Zachman.
Kevin Dowlin, Executive Director of RBS’s Office of Technology and Instructional Services, commented, “This new focus on Enterprise Architecture addresses the importance now being placed on IT Strategic Planning within major corporations today. RBS students will gain an understanding of the best-practice techniques that can be employed to align a corporation’s IT needs and business goals, as well as hands-on experience in how leading enterprise analysis and modeling tools, such as ABACUS, facilitate this.”
So why the switch from informative, catchy slogans to things that are so hard to define? Criticized for selling fast food, companies reckon they can’t get in trouble for celebrating their customers’ inherent awesomeness. “Fast food companies have taken such a big hit, getting criticized for their contribution to the obesity problem. … ‘Be Your Way' is suggesting that it’s an individual choice to eat [at Burger King] and people can make their own choices,” says Jerome Williams, who holds the Prudential Chair in Business in the Department of Marketing at Rutgers Business School and who has studied consumer behavior and marketing. Burger King and its competitors are in a difficult advertising spot: They’re viewed as selling an unhealthy product, but they know people love that unhealthy product. So instead of touting how great their food is, they’re empowering customers to feel good about themselves when they order it.
While few people agree on just about any aspect of Jill Abramson’s dismissal as executive editor of the New York Times (NYT), there’s general consensus on this: The company didn’t handle it well.
What could the Times have done better? Here are some ideas:
“When you’re working in upper management, it’s not just about dealing with subordinates, but also peers, and in some cases you need to learn how to temper your style,” said Ray Henson, a management consultant who teaches executive and leadership strategy in the Department of Management & Global Business at Rutgers Business School. “People who have been successful don’t see a reason to change.”
"Investment advisors are realizing that it's very difficult to outperform a benchmark, but they can consistently add value by minimizing taxes," says John Longo, who teaches at Rutgers Business School and is the chief investment officer of MDE Group, an investment advisory firm in Morristown, N.J. "Taxes are the largest transaction costs investors face."
At the annual healthcare symposium sponsored by Rutgers Business School's Blanche and Irwin Lerner Center for the Study of Pharmaceutical Management Issues, many classroom lectures and lessons became a little more meaningful.
"We hear about the theory, the legislation, the big picture," said Michael Kwatkoski, an MBA student in the Pharmaceutical Management Program. "Something like this puts in all in practical perspective."
The April 30 symposium, "Global Challenges to Pharmaceutical Reimbursements," provided a big-picture, real-world look at the federal government's efforts to reduce healthcare costs while increasing access to medical care. Jonathan Blum, principal deputy administrator at the Centers for Medicare and Medicaid Services, gave the keynote address. Gail Wilensky, a senior fellow from Project Hope, also spoke about the Affordable Care Act.
In a panel discussion moderated by Richard Bagger, a senior vice president at Celgene, a trio of pharmaceutical executives shared their insights about how the new focus on pricing and affordability is impacting the industry's business model – namely the strategy of how companies decide what new medicines to spend time and money developing and taking to market.
The annual symposium is the Lerner Center's signature event, reinforcing its role as a source of thought leadership on issues impacting the pharmaceutical and healthcare businesses. This year's symposium attracted a crowd of more than 70 students, alumni, industry professionals, corporate supporters and media.
In his opening remarks, Professor Mahmud Hassan, the center's director, highlighted some of the strengths of the Rutgers MBA Pharmaceutical Management Program – including the high percentage of graduates who are employed by the industry after completing their MBAs – and how the program benefits from the presence of the 10-year-old Lerner Center.
Hassan said the goal of the symposium was to produce a "meaningful dialogue" relevant to the growth of the biopharmaceutical industry.
Kwatkoski, who is studying pharmaceutical management and marketing, sat through the three-hour event, absorbing the information and insights. "I enjoyed hearing the perspective of people who have worked in pharma for so many years," he said.
Javiar Rodriguez, a former pharmacist turned MBA student, also said the symposium enriched his studies with practical insights.
"These events bring the real world to us," Rodriguez said. "It validates what we're learning."
“Most traditional supermarkets stay within a geographical area for distribution, advertising, labor and management,” Kalan said. “Whole Foods focuses on a niche market, on more of a demographic that is attracted to their offering of organic and natural foods and items. It is more of an upscale middle class demographic — those that are willing to pay a little more for a higher quality product and unique services. Metuchen is a similar type of community.”
Too many people think today’s “de facto” segregation in metro areas is the result of personal preferences expressed by individuals, when the fact is that public policy has created the conditions we live with today. In fact, I see the demise of Jim Crow through the Civil Rights Act and the Voting Rights Act corresponding with the immediate rise of an insidious, “non-racist” racism that shapes our metros today. Our metro areas have never dealt with this.
In the aftermath of the Donald Sterling controversy, the Atlantic’s Ta-Nehisi Coates posted an on-spot critique of how racism is viewed and how racism is really working in today’s society. Coates describes how “elegant racism”, that insidious force, shapes where we live, what jobs are available to us, how we’re educated, and who is incarcerated and who isn’t.
This position is further buffeted by research done by Nancy DiTomaso, a business professor at Rutgers University in New Jersey. In her book, The American Non-Dilemma: Racial Inequality Without Racism, she says this:
“Because whites disproportionately hold jobs with more authority, higher pay, more opportunities for skill development and training, and more links to other jobs, they can benefit from racial inequality without being racists and without discriminating against blacks and other nonwhites. In fact, I argue that the ultimate white privilege is the privilege not to be racist and still benefit from racial inequality.”
Marisa Blackwell founded Cravings from her home in 2008, now operating from a modest space on Halsey Street.
At first she used her home and “borrowed” commercial kitchens as she gained her earliest clients, including Rutgers. For nearly six years, she has catered for Rutgers Business School’s Executive MBA program under a weekly, 150-person assignment that spans about nine months annually.
Cravings has operated at Halsey and Linden streets since 2010, thanks largely to some help from real estate investor and philanthropist Paul Profeta. With a zero-interest loan from the Profeta Urban Investment Foundation and guidance from Rutgers Business School, Blackwell was able to renovate the space and set up shop in one of the city’s main corridors alongside Broad Street.
CPA Australia recently hosted the inaugural Evolution of Auditing Forum where Professor Miklos Vasarhelyi, Department of Accounting & Information Systems of Rutgers Business School in New Jersey, inventor of continuous auditing technology and a pioneer in advanced data analytics, evoked Steve Jobs' radical approach to consumer electronics as an analogy for the auditing profession - "how can we make auditing something people use twice a day - like toothpaste." His challenge was clear - "how can we simplify our messaging to equate to the ethos of our customers 'being able to do everything in three clicks or less."'
This is not rhetoric common in the accounting profession, but it is this kind of disruptive thinking that is required to address a potential crisis of relevance and to meet a rapidly mounting set of challenges facing capital markets.
Five ways to reopen lines of communication
Interview by David Brancaccio
Monday, April 28, 2014 - 05:08
Research by Daniel Z. Levin, professor of management and global business at Rutgers Business School - Newark and New Brunswick, was cited by NPR Marketlace in an interview by David Brancaccio with Adam Grant, professor of management at the Wharton School at the University of Pennsylvania. Levin's paper, "The Power of Reconnection — How Dormant Ties Can Surprise You," was published by MIT Sloan.
In an effort to shed light on one of the most under-publicized Latino ethnic stories in the Garden State, organizers throughout New Jersey conducted the first binational, Mexican-American summit in New Jersey on Saturday.
The one-day conference brought together a wide cast of U.S. and Mexican federal and state experts in health, immigration, education, commerce, politics and the U.S. Census. The event took place at the Rutgers Business School’s new, eye-catching, glass-enclosed, six-story facility on the Livingston Campus in Piscataway. The building, which was designed by Mexican architect Enrique Norten, includes a 440-seat theater-like auditorium where the conference was held.