In the Media

NorthJersey.com
Newark, NJ
Monday, May 2, 2016

NorthJersey.com

The power of the second degree LinkedIn connection depends upon the quality of the first degree connection.

The fact that you have any specific quantity of connections on LinkedIn is of little real meaning. There's also the quality issue; in other words, just how good are these connections?

For instance, we used the example of the person with 500 first-degree connections.

But if all 500 of your connections have 500 of their own, then you have 250,000 second-degree connections, and when you do a search of target employers, and a second-degree connection comes up with a real good quality first-degree connection in between, now you're tapping into the power of the second degree.

Not that the formula is perfect. Far from it, actually, as was pointed out in an email to me by Daniel Levin, professor in the Management and Global Business Department in Rutgers Business School, who said, "I like the overall point ... I did want to point out one assumption made (both in the text and in the equation) that may be mistaken: namely, that there is no overlap in second-degree connections. That is, if 500 people each know 500 people, it is actually not the case that the result is 250,000 people, because the original 500 will know a lot of the same people in common (including each other). This is because the world is "clumpy" in that people sort themselves into relatively closed networks of similar people..."

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Wired Magazine
New York, NY
Friday, April 29, 2016

Wired Magazine

Amazon's electronic assistant foiled my first attempt at ordering a Domino's pie through one of the company's many platform plays. I also could have tweeted or texted or even turned on the TV. But I chose Amazon Echo because my Echo and I have a good rapport. Or we did, until I tried having it deliver a pizza to my mouth.

Alexa vexed me. I'd done the requisite work, setting up a Pizza Profile on the Domino's desktop site, enabling the Domino's "skill" in my Alexa app, and working up a healthy appetite. And yet, not a slice to be seen. What seemed so easy—and Domino's does make it sound easy—was anything but.

I mention this only to raise an important caveat before explaining Domino's AnyWare, an ambitious campaign to let you order pizza on every platform as quickly as humanly and technologically possible. AnyWare is innovative and a lot of fun. There's a lot to like about it.

Except trying it for the first time. But then, whether you actually try it is almost beside the point.

That willingness to take risks and break stuff often makes Domino's the first, and sometimes only, retailer trying new tricks. Consumers respond to that. "They're known for convenience," says Stacy Smollin Schwartz, a digital marketing veteran who teaches at Rutgers Business School. "In terms of the program fitting with that brand image, and giving them some press and some attention that they're trying to extend the distribution and convenience factor to mobile channels, it does give the impression that they have this tech-forwardness."

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New York, NY
Friday, April 22, 2016

Bloomberg Business

Verizon Communications Inc. consultant Timothy Donovan was told that opening global trade barriers would lift everyone from the mail room to the executive suite, but there he was Wednesday, on strike for the seventh straight day, calling on his employer to protect workers' jobs, wages and benefits.

If trade agreements could help U.S. workers, Donovan said, he'd be all for them.

"This is a political issue that (we've) been chewing on for more than 200 years," said Farok Contractor, a professor of management and global business at Rutgers Business School in Newark. "Every political cycle this issue comes up."

The U.S. is squarely in the middle of the global economy. It is a member of the World Trade Organization, which spells out trade rules among 154 countries. And it has its own free trade agreements with 20 countries that are meant to even out the playing field and allow exporters to sell their products cheaper, Contractor said.

Contractor said the benefits are palpable. Americans have access to lower-priced goods, giving consumers more spending power. A recent check of Target's web site, for example, found a Magnavox 46-inch-screen, high-definition television set on sale for $349.99.

Contractor said many corporations have taken the profit they've generated in the global economy, and, instead of giving workers raises or better benefits, have invested in technology to become even more efficient; rewarded shareholders by increasing dividends; and awarded executives bonuses.

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EContent
Medford, NJ
Wednesday, April 20, 2016

EContent

Last year, the buy button hit big, with Facebook, Pinterest, and Instagram adopting more enticing ecommerce solutions in an effort to alter the consumer experience on social media and increase revenue opportunities. Since that time, a wider trend has unfolded, as demonstrated by major publishers like Vox Media, The Huffington Post, and Bonnier Corporation pursuing content monetization options: the maturation of shoppable content and the emergence of a universal shopping cart to make that content shoppable.

Stacy Smollin Schwartz, instructor of professional practice in the Marketing Department at Rutgers Business School, says it makes sense today to put a shopping button in as many places as possible. "A marketer never knows when a specific customer might be ready to buy, and having a shopping basket at the ready within their social media posts, banner ads and videos covers their bases," says Schwartz. "Even if these new buy button placements don't provide a significant revenue stream, they are a convenience for shoppers who might be ready to decide. And these e-tailers get to appear more user friendly and accessible, especially among shoppers who don't wish to interrupt their experience on the content page they're currently viewing."

Schwartz adds that savvy marketers are quickly learning that today's shoppers enter and exit purchase decisions at various points during a site visit; hence, content providers have to "plan their strategies around a circular consumer decision journey rather than through the top of a linear sales funnel."

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NJBIZ
Newark, NJ
Tuesday, April 19, 2016

NJBIZ

Bloomberg Businessweek recently released its annual update to its list of best undergraduate business schools for 2016.

In the most recent rankings, Villanova took the top spot, jumping 23 places from its previous ranking of 24th in 2015.

But several colleges from the Garden State made leaps in the rankings this year, as well.

The biggest jump was made by Rutgers Business School in Newark, which moved 31 spots, to No. 97 from No. 128 in 2015.

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New Brunswick, NJ
Wednesday, April 13, 2016

New Jersey 101.5

A new study from LinkedIn provides new evidence of just how much the job market trends are shifting from previous generations.

The study finds that that millennials are changing jobs at a much more rapid pace than their parents did, sometimes as hopping jobs as many as four times in their first decade out of college.

"Over the last 20 years, the number of companies people worked for in the five years after they graduated nearly has doubled," the study's authors wrote.

Eugene Gentile, director of the Office of Career Management at Rutgers Business School in New Brunswick, said millennials are expecting more than their predecessors.

"If they're not getting what they perceive to be full value for their efforts or full compensation, they're more likely to jump," Gentile said.

And it is not always about just job security and compensation.

"Companies that are socially aware and socially responsible, and if they feel that they're not getting that piece of it too, that's another reason to move on," Gentile said.

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Newark, NJ
Wednesday, April 13, 2016

Bloomberg Business

Rutgers Business School's MBA program was ranked No. 3 in the nation for MBA employment in the latest U.S. News & World Report (2017) Best Business School Rankings.

Strong corporate connections to New York and New Jersey's top global companies helped 98 percent of Rutgers Full-Time MBA graduates obtain employment within three months of graduation. The high employment ranking contributed to Rutgers Full-Time MBA being recognized as the No. 1 Public MBA in the Tri-State area (N.Y., N.J. and Conn.).

"This historic milestone highlights the dedication and hard work of our MBA Office of Career Management and our entire MBA team, and the rising reputation of Rutgers Business School among U.S. corporations and recruiters," said Rutgers Business School Dean Lei Lei.

"We have cultivated long-term relationships with Fortune 500 firms, and these strong partnerships help employers as much as our students," said Dean Vera, director of the Rutgers MBA Office of Career Management. "We can often speak to student's qualifications beyond what the recruiter sees on a resume or cover letter. Our students have a roll-up-your-sleeves attitude when it comes to proving themselves during their summer internships," he said.

In a competitive job market, the hard work of Rutgers MBA students led to an impressive employment outcome that compared favorably among peer business schools in the Big 10.

Comparison of Big 10 Business Schools
MBA Employment 3 Months after Graduation (%)

1. Rutgers Business School: 98.3
2. University of Iowa (Tippie): 97.9
3. Ohio State University (Fisher): 95.7
4. University of Illinois (Urbana-Champaign): 94.1
5. Northwestern University (Kellogg): 93.8
6. University of Michigan (Ross): 92.1
7. Michigan State University (Broad): 90.6
8. University of Wisconsin: 89.5
9. University of Minnesota (Carlson): 89.2
10. Indiana University (Kelley): 89.1
11. Penn State University (Smeal): 86.4
12. University of Maryland (Smith): 82.4
13. Purdue University (Krannert): 80.9
14. University of Nebraska (Lincoln): N/A

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NJBIZ
Newark, NJ
Wednesday, April 13, 2016

NJBIZ

College Choice released its list of the Top 50 graduate schools that offer a master's degree in business administration on Monday. The list included big names such as Harvard and Stanford in the Top 5.

But how did colleges in New Jersey fare?

Well, the Garden State did not go entirely unrepresented: Rutgers University ranked 49th on the list.

"Rutgers Business School has strong ties with top companies in New York and New Jersey, making it easier for graduates to find jobs," College Choice said in its ranking.

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Jobs MBA Rankings


Newark, NJ
Monday, April 11, 2016

Bloomberg Business

For corporate responsibility and sustainability professionals, there is an important area that needs to be in focus, a critical area that presents challenges, risks and myriad opportunities: the global supply chain. Enterprises of all sizes and sectors are making a difference in society, creating competitive advantages and mitigating risks through responsible supply chain and procurement practices.

The Institute for Ethical Leadership at the Rutgers Business School and the Governance & Accountability Institute are partnering to offer a Corporate Social Responsibility Certificate Program with a key topic area of supply chain management. The subject will be led by Dr. Kevin Lyons, an associate professor of supply chain management at Rutgers Business School and will focus on these critical topics for corporate managers:

 

  • Quantifying economic and social development options
  • Focusing on four main supply chain and sustainability responsibilities
  • Emergence of social procurement strategies
  • Stakeholder mapping
  • Working with social enterprises
  • The importance of the circular economy shift

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CNBC
New York, NY
Thursday, April 7, 2016

CNBC

Could Bernie Sanders, a self-described "democratic socialist" and Wall Street's biggest critic, be an entrepreneurial genius?

A closer look at the ideas and methods propelling the 'Feel the Bern' phenomenon, and interviews with entrepreneurial experts, show that the Sanders campaign has displayed plenty of business smarts tailored to today's market.

"An entrepreneur is someone who understands a particular market segment, who can energize that base and who can get it to take action," said Lyneir Richardson, executive director of The Center for Urban Entrepreneurship and Economic Development at Rutgers Business School.

"Bernie Sanders is speaking to a segment that not only other politicians but most big corporations want to figure out how to sell to: millennials," Richardson said.

"Everyone's going after that demographic right now, and millennials are responding to Sanders in a way that the rest of the country and business world is watching and learning from."

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NJBIZ
Newark, NJ
Tuesday, April 5, 2016

NJBIZ

A typical day for a developer? As George Jacobs explains, it can be anything but typical.

Take this example from a recent Wednesday.

"Today, I was tracking down an FAA permit because I'm building a shopping center in Elizabeth," said Jacobs, president of Clifton-based Jacobs Enterprises Inc. "We're under construction … for a Foodtown-anchored strip center, and we have to use a crane because we're hanging some prefab walls."

"We’re in the flight path of Newark airport."

Jacobs recounted the story last month at the Rutgers Real Estate Career Seminar before more than a 100 MBA candidates and prospective students who are considering careers in commercial real estate. It was the first-ever career seminar hosted by the quickly growing Rutgers Center for Real Estate, drawing a packed crowd to a classroom at Rutgers Business School's main building in downtown Newark.

For his part, Jacobs was one of 11 New Jersey real estate industry leaders who were on hand to share their experiences and answer questions, representing a cross-section of different practices and asset classes that operate within the sector.

"Students just don't get much exposure to real practitioners," Paul Profeta, owner and president of Paul V. Profeta Associates in West Orange, told attendees at the March 23 event. "Today, you've got some real practitioners — these are people who put bread and butter on the table."

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NJBIZ
New Brunswick, NJ
Tuesday, April 5, 2016

NJBIZ

A conference next week will shine a light on Halstead Healthcare System, a dominant provider whose footprint is filled with all types of physical assets — from a suburban campus and off-site specialty centers, to recently acquired physician practices and struggling urban hospitals.

The organization also happens to be entirely fictional, part of a theoretical case study hatched by the Rutgers Center for Real Estate that will be the foundation for its second annual conference.

"As part of an academic institution … the Center for Real Estate feels with all of its events that we have to deliver an elevated discussion, a higher level of substance when it hosts a conference or seminar or other event that focuses on real estate," said Ted Zangari, an executive committee member for the center. "So we thought that an issues-packed, fact-driven hypothetical or case study would help us raise the level of discussion to a more substantive level than you might find at some of the other conferences on this topic in the past."

The Future of Healthcare Real Estate Symposium will take place Friday, April 15, at Heldrich Hotel in New Brunswick.

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Digimind
New Brunswick, NJ
Tuesday, April 5, 2016

Digimind

Being engaged on social media has never been more important, so the Digimind.blog compiled an A-Z list of today's Top 20 social media influencers who should be followed on Twitter. They come from a breadth of backgrounds, from entrepreneurs to authors and strategists, and are guaranteed to keep you in the loop when it comes to the latest digital marketing strategies. Three of the top social media influencers on Digimind's list, Glen Gilmore, Mark Schaefer and Neal Schaffer, are part of the Rutgers Business School Executive Education faculty. All three teach as part of the Mini-MBA Social Media Marketing program. Gilmore and Mark Schaefer also teach in the Mini-MBA Digital Marketing program. 

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Inside Business
Newark, NJ
Friday, April 1, 2016

Inside Business

Home delivery service becomes big business

The system that delivers a package to your front door today has its roots in the 19th century and the potential to create housing on Mars in the 21st century.

What started as a way to deliver watches and grew to include the shipment of household goods, clothes and even homes has changed the way the world shops.

Nearly 70 percent of Americans make online purchases at least once monthly and that translates into millions of deliveries.

Professor Arturo Osorio of the management and global business department of Rutgers Business School said the modern home delivery service began with Richard Sears, who published his first mail-order catalogue in 1886.

“The fundamental relationship then was between the customer and the retailer, based on trust,” Osorio said. Retailers, then, were also the shippers, he said.

While the mail-order catalogue has been supplanted by the online store made available by the Internet, the concept is the same, Osorio said: A customer purchases an item from a retailer, who then ships it to him or her.

Today, however, an online customer generally pays electronically and relies on a delivery service to receive or return an item. The introduction of the delivery service changed the relationship, Osorio said.

“A fundamental difference now is that the primary relationship is between the retailer and the shipper,” he said.

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BusinessBecause
Newark, NJ
Tuesday, March 29, 2016

BusinessBecause

MBAs are hot property in the frothy real estate market. As investors pump capital into commercial property, tempted by juicy yields while interest rates are at rock bottom, MBA job opportunities are exploding.

"As large institutional investors like the sovereign wealth and pension funds are increasing their real estate portfolio allocations, their demand for talented professionals grows," says Stijn Van Nieuwerburgh, director of NYU Stern's Center for Real Estate Finance Research.

Employers are big property developers, life insurance companies, private equity funds, pension funds, and sovereign wealth funds. "We are seeing a variety of opportunities," says Kevin Riordan, a director at the Center for Real Estate at Rutgers Business School, where two private equity firms are snapping up interns.

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Newark, NJ
Tuesday, March 29, 2016

Elon University

"Kid Tested, Mother Approved: The Relationship between Advertising Expenditures and 'Most-Loved' Brands," appears in the International Journal of Advertising.

Kacy Kim, assistant professor of marketing in the Martha and Spencer Love School of Business and her co-authors, Jerome Williams, Rutgers University-Newark, and Gary B. Wilcox, University of Texas at Austin, explored relationship between advertising expenditures and perceptions regarding popular brands as held by children and mothers in the United States.

The article’s abstract reads:

"In this research, we examine the relationship between advertising expenditures and perceptions regarding popular brands as held by children and mothers in the United States. Our findings show that traditional media advertising expenditures positively relate with brand affinity for children and mothers, while product placement relates positively with children’s brand affinity but not with mothers’ brand affinity. A closer examination of advertising budgets reveals that marketers for the top children’s brands devote most of their advertising to TV and magazine advertisements, indicating that they still believe that traditional media play a key role in reaching the youth market. Additionally, the advertisers spend disproportionately higher amounts to reach Hispanic and African American populations."

Elon University

Access International Journal of Advertising Article



BusinessBecause
Newark, NJ
Monday, March 21, 2016

BusinessBecause

Gilles Duranton, chair of the real estate department at Pennsylvania University's Wharton School, sees a feast of MBA career opportunities in the sector. But what really gets him animated is advanced analytics.

"The data component — sophisticated modelling — is becoming more important," he says, with feeling. "Companies are asking for this more and more."

MBA jobs in real estate are booming, from developers to private equity firms such as Blackrock and KKR and investment funds at Goldman Sachs and Morgan Stanley. What all these employers have in common is a thirst for analytical talent.

Advanced financial modelling is one of the four key skills needed to succeed in real estate careers, says Morris Davis, the Paul V. Profeta Chair in Real Estate at Rutgers Business School.

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Newark, NJ
Friday, March 18, 2016

U.S. News & World Report

When Nest Labs wants to increase profitability, it's up to Tejash Patel to help figure out how.

To find answers, Patel, a business operations systems manager in Nest's supply chain arm, analyzes data and meets frequently with the operations, engineering and marketing departments.

It's a rare kid who dreams of working in supply chain management, a field where responsibilities typically divide into four parts: plan, source, make and deliver the product.

But demand for MBAs to fill these functions has been growing along with the geographical reach and complexity of supply and distribution channels, say b-school placement professionals. Companies focus on finding cost savings in their supply chain to avoid raising prices, says Dean Vera, director of the MBA Office of Career Management and assistant dean at Rutgers Business School—Newark and New Brunswick. Consulting firms also are looking for supply chain experts.

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Newark, NJ
Thursday, March 17, 2016

Accountability Central

Rutgers Business School’s Institute for Ethical Leadership and G&A Institute joined forces to develop and offer a Corporate Social Responsibility Certificate Program for corporate professionals. The first executive education program classes begin on Wednesday, April 27 and Thursday, April 28 at the Rutgers Business School campus in Newark, New Jersey. The two-day program features a deep dive into CSR and the related fields of philanthropy, sustainability, risk management, supply chain management, and ethics.

Louis. D. Coppola of Governance & Accountability Institute will lead an interactive course focused on diving deep into the history, definitions, and practicality of “materiality” from a sustainability perspective and the importance of determining materiality in the context of the corporate CSR program or when making investment decisions.

Materiality, as the U.S. Supreme Court defined it under the scope of U.S. securities law (and as the Securities & Exchange Commission generally applies it to corporate disclosure and reporting) along these lines: The materiality of particular information is whether there is a substantial likelihood that a reasonable investor would consider the misstated or missing information as having significantly altered the total mix of information that was available.

With the dramatic expansion of disclosure and reporting of ESG performance data (environmental, social and governance), the range of information being made public by companies is bringing about a vigorous dialogue (especially among investors) focused on the materiality of information.

Participants will be able to directly relate to the content and material, allowing them to apply their learning to their current work place immediately.

Registration includes breakfast, lunch, dinner Wednesday evening, parking, and course materials. Upon completion of the 2 day program, participants will be awarded a certificate in executive leadership. The program runs from 9:00 am to 5:00 pm, on Wednesday, April 27 and Thursday, April 28, at the Rutgers University Business School in Newark, NJ.

To learn more about the CSR Certificate program, call 973-353-1134, email leadership@business.rutgers.edu, or visit http://www.business.rutgers.edu/iel/csr.

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Chicago, IL
Wednesday, March 16, 2016

Hospitals & Health Networks

What are some of the hottest issues that are top of mind for hospital leaders, and what are the nation’s top performers doing to address them?

That question was the topic of a conversation today at the American College of Healthcare Executives 2016 Congress. The trade group rounded up a handful of notable researchers to chew over high-level issues, and some of those covered weren’t necessarily what you might expect.

Doctors and nurses can sometimes desire autonomy in their work, looking for freedom to think and problem-solve on their own. And yet, autonomy pulls providers away from collaboration and team-based care, and could possibly be detrimental to patient satisfaction, theorizes David Dobrzykowski, a researcher and assistant professor with Rutgers Business School.

“What we show is that, if you motivate your staff, that will improve your HCAHPS scores and you may not need to spend time on mahogany and fireplaces,” Dobrzykowski says.

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