In the Media

QUARTZ
New York, NY
Monday, September 18, 2017

QUARTZ

E-commerce means more deliveries than ever will pour into the world's cities. By 2020, e-commerce sales are expected to rise 85%, auguring a flood of packages. With urban congestion bad and getting worse, how will we get all those packages?

High-tech solutions to last-mile delivery have been on the horizon for decades, say logistics experts. But instead of jet packs, mostly we have gotten Amazon lockers and more night-time deliveries.

McKinsey looked for answers by assessing more than 20 logistical solutions now within reach as part of its September report on urban commercial transport.

"Some of those things have been around for long time," says Rutgers Business School professor and supply chain management expert Rudi Leuschner. "The question is, can you actually line up everyone to make it happen?" The biggest challenge is replacing and modifying old systems. Physical infrastructure as well as economic barriers such as competing delivery firms present massive hurdles for cities wishing to overhaul delivery. "I don't see any huge changes" in the near future, predicts Leuschner.

Full Article



Newark, NJ
Monday, September 18, 2017

myCentralJersey.com

A team representing Rutgers Business School won the $1 million Hult Prize for social entrepreneurship on Saturday, capping 11 months of entrepreneurial effort with a polished, convincing pitch about the ability of its rickshaw transportation business to improve the lives of refugees overseas.

Senior Gia Farooqi, new graduates Hasan Usmani and Moneeb Mian, and alumna Hanaa Lakhani, all of whom are New Jersey residents, created the Roshni Rides startup as a way of answering the 2017 Hult Prize Challenge of developing a business capable of restoring the dignity of 1 million refugees by 2022. The company uses a pre-loaded transaction card, encourages ride-sharing and existing rickshaw drivers.

Their ability to persuasively pitch the idea to the Hult judges enabled them to beat out finalist teams from five other schools: Harvard University’s Kennedy School, the Instituto Tecnológico Autónomo de México, the University of Waterloo, the University of Calgary and York University.

Full Article



New York, N.Y.
Sunday, September 17, 2017

Mack-Cali is on a mission to re-engineer the Harborside complex as a riverside destination for the city. The company has plans to add restaurants along the walkway and a ferry stop. It also is giving the property a $75 million face-lift and upgrade. "I think the concept now of turning the building inside out and marrying it to the environment to provide that seamless attachment is more current in thought in the last three to five years," said Kevin Riordan, executive director of the Center for Real Estate at Rutgers Business School. "And I think it’s been accelerating with millennials willing to live downtown."

Read the full story:



Fox Business
New York, NY
Sunday, September 17, 2017

Fox Business

Former President Bill Clinton awarded $1 million in seed funding to four Pakistani-American students who created a ridesharing rickshaw startup service to help refugees—especially women—travel to major points of interest in Pakistan.

The startup, called Roshni Rides, was developed by Rutgers University students who were participating in the 2017 Hult Prize Foundation competition that showcases more than 10,000 student volunteers in more than 500 on-campus university programs around the world. This year's challenge, which was issued by Clinton himself, was to find a way to restore human dignity and rights to millions of displaced people by 2022.

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Huff Post
New York, NY
Sunday, September 17, 2017

Huff Post

Four Pakistani-American students are one step closer to making their idea for tackling the global refugee crisis into reality.

The young entrepreneurs behind Roshni Rides, an envisioned transportation network to empower refugees overseas, on Saturday won the prestigious Hult Prize challenge ― which comes with a $1 million award in seed capital.

The Roshni Rides team is made up of recent Rutgers University graduates Hanaa Lakhani, Moneed Mian and Hasan Usmani, as well as CEO Gia Farooqi, who is on track to graduate from Rutgers later this year.

Farooqi, 22, said the refugee-focused challenge posed a politically poignant issue for her team. There was a lot of news coverage surrounding the Syrian refugee crisis when it was announced last October, she noted.

"Being Muslim, and feeling very connected to our global Muslim family, it just became something that was so much more than a competition," she explained.

Farooqi said it felt "very unsafe and almost uncomfortable" to be a Muslim in America after President Donald Trump's 2016 election campaign, which focused heavily on a ban to halt the entry of refugees and other citizens from predominantly Muslim nations into the United States.

Participating in the Hult Prize challenge to support refugees in Muslim-majority Pakistan and beyond afforded her a platform to represent the U.S. on a global stage as an American Muslim, Farooqi said.

"America is diverse and looks different," she added. "Anybody can help anybody, no matter what you look like."

Full Article



Fortune
New York, NY
Thursday, September 14, 2017

Fortune

The smartphone market is unique in that consumers have learned to expect new models every year from major manufacturers. This is a mixed blessing for the industry: The manufacturers are under great pressure to offer significantly innovative features every year; on the other hand, by constantly introducing new features and software updates, the industry has successfully persuaded consumers to ditch perfectly usable products and buy new ones every two years.

It is a great business model. Average repurchasing cycle of a smartphone (about every two years) is far shorter than average useful life of a typical smartphone (about 4.7 years). Moreover, consumers naturally expect to pay more for new and improved features in the new device, which allows the manufacturers to increase prices each year. No other industries can pull out the same trick.

A corollary is that the more innovative the new features are, the more a price increase can be justified. Add the name "Apple" to that, and you are forgiven to push the price envelope even further.

Professor Chan Choi is the Rutgers Business School marketing department vice chair.

Full Article



Newark, NJ
Thursday, September 14, 2017

The Daily Targum

Rutgers Business School was ranked among top 10 schools with the most diverse faculty in the United States, according to a survey conducted as a part of the Ph.D. Project, a project run by KPMG Foundation.

The survey covers the current academic year and it showed that, of the most diverse departments, North Carolina A&T had 22 black, Hispanic or Native American professors on faculty. Howard had 19, Florida A&M 15 and Rutgers 14, according to the data provided by The Ph.D. Project.

Professor Eugene Spiegle, an associate professor and undergraduate program director for supply chain management said the Business School places a great deal of importance on the diversity of its professors and faculty.

"In our department, we always look for a variety of persons. We don't want to be a university that is all white or all black or all Asian," he said.

He said the presence of diversity within the institution lends itself a learning curve that one does not get otherwise. This is why the department looks for professors with different work backgrounds to further the scope of learning.

Full Article



Piscataway, NJ
Sunday, September 10, 2017

The Daily Targum

The Rutgers Business School has climbed up in the rankings again, according to a recent report by Money that placed Rutgers 35th in the country for business, tied with Michigan State University and the College of William and Mary.

The ranking was based on quality, affordability and the career payoff.

"As you can see, Rutgers Business School is No. 5 – tied with Michigan State University – among the Big Ten schools and ahead of many elite business schools mentioned in this ranking, including the University of California–Santa Barbara, New York University, University of North Carolina–Chapel Hill and Boston University," said Lei Lei, Dean of Rutgers Business School.

Lei said the brand of Rutgers Business School attributed to the school's ranking.

"The brand of Rutgers Business School shows the unique strengths of our students and alumni. We pride ourselves on these values. Our students are resilient, resourceful and responsible," Lei said. "When companies know and appreciate the value of your brand, they come to hire your students."

Full Article



Asbury Park, NJ
Friday, September 8, 2017

Asbury Park Press

Fake news, coursing through websites and social media pages, isn't confined to politics. It is hitting businesses, too, forcing them to be on alert to douse deliberate misinformation before it affects their stock price or brand.

The potential for fake business news to go viral has prompted regulators and academics to search for ways to crack down on the publishers. For now, though, it is up to investors and consumers to ferret out what's real and what's fake.

"It's basically fraud," said John Longo, a finance and economics professor at Rutgers Business School in Newark and New Brunswick. "But if someone is anonymous, they might feel emboldened as a way of trading on it."

But the digital age has added urgency. Hoaxes can spread more quickly, and investors don't need the stories to linger long to make money; computer programs trade stocks by the second, Longo said.

Full Article



New York, NY
Friday, September 8, 2017

The New York Times

Over four decades, Mr. Dalio, 68, has built Bridgewater, which has $160 billion in assets, into the largest hedge fund firm in the world — bigger than the next two largest hedge funds combined.

He has also built an unusual and confrontational workplace at Bridgewater, where employees hold each other to account by following a strict set of rules that he created, "Principles."

All of the rules celebrate what Mr. Dalio calls "radical transparency" in the workplace, and the search for the ideal employee.

In an industry known for producing flameouts, the consistent returns have drawn investors to Bridgewater despite Mr. Dalio's idiosyncratic leadership style, which has included frequent management shake-ups. Most recently, Mr. Dalio ousted Jon Rubinstein, a former top Apple executive, in March after hiring him just 10 months earlier as the firm's co-chief executive officer, because he was not a "culture fit."

"It is a culture that is not for everyone but not one that would dissuade me from investing," said John Longo, a finance professor at Rutgers University School of Business.

Full Article



Forbes
Newark, NJ
Wednesday, September 6, 2017

Forbes

What Lyneir Richardson Has Learned About Failure and the Challenges for Minority Entrepreneurs

Lyneir Richardson wears two hats, as an entrepreneur and an academic. Since 2014, he’s been executive director of Rutgers Business School's Center for Urban Entrepreneurship and Economic Development, a program that supports women and people of color who are starting their own ventures.

He's also CEO of Chicago TREND, which offers financing and consulting to retail developers in Chicago's low-income neighborhoods.

Richardson's career has been marked by highs and lows. Early on, he ran his own Chicago real estate firm that first prospered and then crashed. Next, he worked for one of America’s most prosperous REITs, but lost his job when the financial crisis battered the firm. Then came a stint as head of economic development for the city of Newark, NJ.

In this interview, which has been edited and condensed, Richardson, 51, talks about what he learned from failure and why he believes African-American entrepreneurs should always make profits a priority.

Full Article



YoungUpstarts
Newark and New Brunswick, NJ
Wednesday, August 30, 2017

YoungUpstarts

Creating Effective Digital Habits for Yourself And Your Company

By Terri R. Kurtzberg and Jennifer L. Gibbs, co-authors of Distracted: Staying Connected without Losing Focus

As an entrepreneur, you will likely end up with two completely different jobs. One is to produce or offer something that the world values and thus create a line of revenue. But in addition, you also hope to end up in the position of having to manage other people, and thus will need to set the tone for a company as it grows and thrives, to decide what rules and behaviors will work best not just for you but for others who will look to you to make these kinds of decisions.

One of the tricky areas to get right in today's world is the balance between being connected to work through our wireless devices and protecting some pure time off. By now, this is probably a familiar tension for nearly everyone — while being able to keep tabs on work even while out of the office creates some impressive freedoms, it also strips us of having any reliable down-time, as emails and messages creep into our nights, weekends, and even vacations.

Some people defend this "bleeding" of work into home-life, stating that addressing things as they arise allows for so much more efficiency, and prevents a miserable stacking-up of messages and tasks upon return to the office.

Others just hate the intrusion and resent the colleagues and bosses who expect round-the-clock attention and fast response rates.

Many people feel pressure to keep up this pace only because others are doing so.

Terri R. Kurtzberg, PhD is associate professor of management and global business at Rutgers Business School, Newark and New Brunswick, NJ and Jennifer L. Gibbs, PhD, is associate professor of communication at Rutgers University's School of Communication and Information in New Brunswick, NJ. They are co-authors of Distracted: Staying Connected without Losing Focus.

Full Article



Fast Company
Newark, NJ
Thursday, August 24, 2017

Fast Company

The Center for Urban Entrepreneurship and Economic Development addressing the underrepresented minority entrepreneurs funding gap

The Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers Business School in New Jersey has been plugging away for years to help change that. This year, however, the organization launched two initiatives specifically designed to address the funding gap, after hearing from countless entrepreneurs who struggled to secure capital.

A three-month pre-accelerator called the Black and Latino Tech Initiative (BLT) offers founders of color mentorship and access to CUEED’s venture capital partners, including local accelerators at Newark Venture Partners and IDT Ventures. CUEED’s Pipeline to Inclusive Innovation (PII), on the other hand, aims to up the number of underrepresented scientists and inventors who take advantage of federally funded innovation and tech programs.

There are already about 20 to 25 companies between the two new programs, from a service that CUEED executive director Lyneir Richardson describes as "Yelp for reviewing landlords and property owners," to a diabetes test that uses a human teardrop.

"These folks have interesting ideas,' CUEED’s academic director Jeffrey Robinson says. "Certainly there are comparable ideas out there in the marketplace, and they get greenlit. It makes me wonder, why didn't these folks get greenlit? We're of the mind that we can better prepare entrepreneurs, no matter who they are, for entering accelerators, or getting that first level of funding, or supporting them as they go after these grants."

Full Article



BusinessBecause
Newark and New Brunswick, NJ
Tuesday, August 22, 2017

BusinessBecause

It may not come as a surprise to learn that the skillset required of soldiers on the battlefield—autonomy and uncertainty, self-sufficiency, and effective decision-making—makes them a natural fit for the boardroom.

With a whole host of financial resources available to veterans and military personnel at both the national and state levels, there's never been a better time than now to consider business school.

Rutgers' Office of Veteran and Military Programs and Services (OVMPS) collaborates with departments throughout the business school—and beyond—to ensure a "smooth transition and supportive environment" for student veterans. In addition, Rutgers Business School offers a Mini-MBA in Business Management for Veterans, developed to help student veterans and military personnel apply the "knowledge and skills of military training to a civilian workplace."

Full Article



Montclair, NJ
Tuesday, August 15, 2017

Steve Adubato "On the Air"

Steve Adubato sits down with Janice Warner, Ph.D., Rutgers Business School '07, Dean of the School of Business and Digital Media at Georgian Court University, to hear why she decided to incorporate digital media studies into the business school and how multimedia and communications can go hand in hand with business and e-commerce.

Video and transcript excrpt



Monday, August 14, 2017

MBA Crystal Ball

The most important objective of doing an MBA program is undoubtedly to get on to the fast track for career advancement. Naturally, people vie with one another to get admitted to top-rated MBA programs, assuming that these programs are also the best for job placement. However, not all top programs have the best employment rates. Some lesser-known programs may outdo their elite counterparts by a big margin.

According to a survey by US News and World Report, three of the ten schools that have the highest job-placement figures for 2016 (full-time MBA) are not among the top 50 of the US News' 2018 Best Business Schools (BBS) rankings. The survey, which ranks 131 MBA schools that provided data to US News, records an average job placement rate of 88.3 percent among full-time 2016 MBAs three months after graduation.

First, let's go to US News' job-placement ranks (three months after graduation). The top spot goes to the Fox School of Business and Management, Temple University, Pennsylvania. Its score? A boast-worthy centum. By the way, Fox has a BBS ranking of only 32 (tied rank; henceforth given as just "tie").

Top MBA placements

Here’s the list of job-placement toppers:
1.    Fox School of Business and Management, Temple University (PA)
2.    Foster, University of Washington (98 percent employed three months after graduation)
3.    Stevens Institute of Technology (NJ) (97.2 percent)
4.    La Salle University School of Business, PA (96.4 percent)
5.    Rutgers, the State University of New Jersey (96.3 percent)

Full Article



WalletHub
Washington, D.C.
Tuesday, August 8, 2017

WalletHub

"Cool" is a subjective term that few people associate with credit cards. Sure, celebrities seem pretty sweet when they're flashing their black cards, but how cool can us common folk really look when we pull out our plastic at the gas station or grocery store?

It depends on your definition of cool. We think the coolest thing about a credit card is its ability to save you money. Other people might be more interested in fancy new card materials, custom designs or an air of exclusivity.

With these differing conceptions of cool considered, WalletHub's editors compared more than 1,000 offers (some of which are issued by WalletHub advertising partners) in order to identify the coolest cards currently on the market in two distinct categories: 1) those offering the most value; and 2) those that are the coolest looking.

"The design of the card can be 'cool,' beautiful or interesting, when you happen to catch it coming in or out of your friend's wallet, but I think what makes it 'cool' enough to proactively share with a friend is it mobile experience. Mobil wallets and credit cards with robust mobile apps get 'cool points.'"

Stacy Smollin Schwartz, professor of marketing at Rutgers Business School

Full Article



Morristown, NJ
Monday, August 7, 2017

New Jersey Monthly

"Forty months ago, we were in my garage and I had a tape gun," Huang marvels as he shows off the part of the two-mile conveyor system that seals boxes with digitally encoded tape—all the better to ensure accurate, speedy delivery.

Boxed, founded in 2013, specializes in direct shipping of bulk items like toilet paper, breakfast cereal and pet food to consumers and businesses. It is considered the first online-only retailer to seriously take on industry leader Amazon and big-box stores like Sam's Club, Costco and BJ's.

"They're doing a lot of things right," says John Impellizzeri, director of the Center for Supply Chain Management at Rutgers Business School. He predicts Boxed will be a huge success. "A large portion of the population has to drive 20 miles to a Sam's Club, so at some point the 55-year-old mom or dad will say, 'Do we really want to drive 40 miles and pay a membership fee?'"

Full Article



Cambridge, MA
Friday, August 4, 2017

Harvard Law School Forum

Dan Palmon is William J. von Minden Chair in Accounting at Rutgers Business School. This post is based on a recent article by Professor Palmon; Stephani A. Mason, Assistant Professor of Accounting at the DePaul University Driehaus College of Business; and Ann F. Medinets, Assistant Professor of Accounting at Rutgers Business School.

Populist anger in the U.S., Europe, and Australia has triggered an ongoing debate about whether executives receive excessive compensation, and if so, how to control it. Several countries have instituted say-on-pay rules (shareholders' right to vote on executive compensation) aimed at reducing excessive compensation.

Determining the effectiveness of say-on-pay is difficult because its tenets vary by country due to political, institutional, cultural, economic, and social factors that have shaped local governance and compensation practices. Policy issues like say-on-pay are complex and lack the necessary foundation of definitive assumptions and theories.

Existing say-on-pay research is inconclusive, since some studies find no change in CEO compensation around its adoption, whereas other studies show that say-on-pay lowers CEO pay or changes its composition. A major factor that hinders the effectiveness of say-on-pay research is the many forms in which it comes. It can be implemented by shareholder proposals or through legislation, and the effect of say-on-pay measures can be binding or non-binding, depending on regulatory requirements or internal corporate policy.

Full Article



Metro MBA
Havana, Cuba
Friday, August 4, 2017

Metro MBA

Kevin Riordan, the Executive Director of the Center for Real Estate at the Rutgers Business School recently surveyed the potential—and pitfalls—of American real estate investment in Cuba.

Riordan moderated a Royal Institute of Chartered Surveyors (RICS) panel entitled "Destination Havana," which explored "how the changing economic, political and social landscape will impact the country’s developing real estate and infrastructure."

"With Raul Castro assuming the presidency and the commencement of the Cuban Thaw in December 2014, there are signs that the state wants to embrace some economic liberalization. Unsurprisingly, this means tourism and real estate."

Riordan explains, "There’s still a lack of large substantive projects under construction because of how business is conducted on the island."

Full Article

Kevin Riordan reports from the field: Blog RE