Optimal Solutions, Inc. (OSI), of Lyndhurst, has received a $225,000 National Science Foundation grant with the assistance and guidance of the New Jersey Small Business Center’s Technology Commercialization program which focuses on assisting science-tech companies in taking their innovations from the laboratory to the marketplace.
OSI delivers customized software applications that model, optimize and simulate complex industrial processes and is headed by Vijay Hanagandi, Ph.D.
As a recipient of an NJSBDC Small Business Success Award in December 2013, Dr. Hanagandi commented that, “The help received from the NJSBDC network’s Tech Commercialization Consultant Randy Harmon has been invaluable. It has essentially helped OSI chart a course to become a products company while maintaining its steady consulting practice.”
Dr. Hanagandi appreciates the NJSBDC network’s business guidance and help in securing the National Science Foundation STTR Phase I grant.
In addition to the current project, NJSBDC has assisted Dr. Hanagandi in winning two previous Department of Energy Grants.
The NJSBDC non-profit network is a federal-state-educational partnership. Its expert staff and business practitioners help small business owners and entrepreneurs with every stage of business development and growth.
The network headquarters is located at the Rutgers Business School in Newark. Its major funding partner is the U.S. Small Business Administration. The New Jersey Business Action Center is an additional funding partner of the NJSBDC program as well as other public and private grants/sponsorships. The NJSBDC network is an accredited member of the national association of SBDCs, with more than 1,100 centers and satellite offices throughout the country serving and assisting small businesses and saving and creating jobs across the nation.
Corporate culture (Unternehmenskultur) is a blend of the values, beliefs, taboos, symbols, rituals and myths all companies develop. Research demonstrates that ethical companies, with a culture and mission aligned with its values are, in the long run, the most successful. The same holds true for arts organizations (Kulturorganisationen): a healthy culture aligned with ethical values is what distinguishes the great arts institutions.
What are some of the other characteristics of an organization with strong culture and ethical values: openness and transparency – where employees who come forward with great ideas are encouraged and those reporting problems are not discouraged; respect and appreciation for the art – the leader’s role is to insure that employees are reminded why they are working there; and for arts institutions, particularly, an atmosphere where measured risk taking and creativity is encouraged - where artists are free to experiment and at times, even fail.
Joseph Taylor, CEO and chairman of Panasonic North America, will provide Rutgers Business School students with an insightful look at leadership and strategy on Thursday, Feb. 20 as the next featured guest in the school's distinguished CEO Lecture Series.
Taylor's talk, "The Challenge of Remaking a 100-year-old Global Corporation," will focus on Panasonic's emergence from its business struggles and what it has taken to regain the company's footing in the global marketplace.
Students, faculty alumni, journalists and others interested in attending are encouraged to register. The event will take place from 6 p.m. to 8 p.m. inside Bove Auditorium, Rutgers Business School, One Washington Park, Newark.
A reception will follow in the lounge outside Bove.
The job market has been tough for most people, and even more so for African-Americans, who have consistently had higher unemployment rates than their counterparts. The cause is a combination of a strained economy and systemic differences among certain populations.
Nancy DiTomaso, a professor at Rutgers Business School, wrote a book last year on inequality in the workplace. Her work examines how people get jobs and found that for many, jobs came through networking, something that is highly encouraged in today's labor market.
However, her analysis shows that networking in and of itself is skewed.
The New York Society of Security Analysts (NYSSA) announced the selection of the four finalist teams for the New York Local Final of the CFA Institute Research Challenge. The student teams will present their research to a panel of senior finance experts on February 20, 2014 from 6:00 p.m.--9:00 p.m. at NYSSA Conference Center.
The final four teams for the New York Local Final are:
Rutgers Business School--Newark and New Brunswick, Rutgers University
Team Members: Daniel Dicicco, Eric Lang, Shmuel Libby, Ankith Polavarapu, Andrew Spiro
Seton Hall University, New Jersey Institute of Technology, Fordham University
Each of the four teams will have 20 minutes to convince the panel of the merits of the investment recommendations found in their written reports. The winner will advance to the Americas Regional competition in Denver, Colorado, from March 18--19, 2014.
To reach the finals, these four teams bested students from 18 top area business schools. The field was narrowed down to the Final Four on the basis of written reports and presentations on subject company, Colgate-Palmolive.
Audible founder and CEO Donald Katz has been named chairman of Brick City Development Corp., the Newark economic development agency said Monday.
Katz, who moved the online audio book provider to the city in 2007, replaces former Newark Deputy Mayor Adam Zipkin after serving three years as a BCDC board member, the agency said in a news release. In his new role, Katz is expected to help the BCDC focus on drawing the technology sector and other growth-minded industries.
Katz's move to the new role comes as Lyneir Richardson, BCDC's chief executive, prepares to leave next month to lead the Center for Entrepreneurship and Economic Development at the nearby Rutgers Business School. In a prepared statement, Richardson said Katz "has the vision to engage the city's future leadership and to shepherd BCDC into Newark's next era."
Secretary of Defense Chuck Hagel announced Friday [Feb. 7] that he will assign to his senior staff a general officer who will report directly to him on issues related to military ethics, character and leadership. The officer will also work directly with the service secretaries and the service chiefs and coordinate the actions of the services on these issues. Hagel will receive weekly reports from the Defense Department’s senior officer and enlisted leadership on the progress DOD is making to tackle systemic ethics problems, he said.
Dr. Ann Buchholtz, a professor of leadership and ethics at Rutgers Business School who gave a two-hour presentation on ethics at an Army leadership course in January, suggested that directives and admonitions by senior officials won’t be enough.
“The strongest effects are the immediate managers. We know that the biggest effect on how somebody behaves at work is the manager right above them, the ones they see every day. And that’s why it can be such a challenge to get a culture of ethics,” she said. “Senior leaders can’t do it alone.”
Buchholtz said using case studies and real examples of ethical dilemmas that people might find themselves in are much more effective tools than teaching abstract ethical concepts.
“Practice with scenarios — and typically they are experiences people really had and decisions people really had to make — and just walking though it and what would you do in that situation, that is the best preparation for doing the right thing later on,” she said.
Students from Rutgers Business School's MBA Pharmaceutical Management Program captured third place in the Kellogg School of Management's prestigious biotech and healthcare case competition, securing a spot among the leading business schools in the country.
Eleven teams participated in the competition from schools such as the University of Michigan's Stephen M. Ross School of Business, Kellogg and the University of Minnesota's Carlson School of Management. Teams from Cambridge University's Judge Business School, Mexico's IPADE Business School and McGill University's Desautels Faculty of Management in Canada also competed.
The Rutgers team – made up of second-year MBA students Sarah Kruse, Rema Bitar, Mitchell Ezra, Michelle Finn and Denise Kubata – placed with teams from the Haas School of Business at the University of California, Berkeley and the University of Chicago's Booth School of Business. Haas took first place for the third year in a row while Booth won second place.
A secret $300,000 study commissioned in 2011 by the CalOptima board of directors showed no serious management problems at the county’s health plan for low income, disabled and elderly residents.
At the time of the study, Supervisor Janet Nguyen was pushing to take over the health plan’s board of directors.
Despite being briefed weekly on the lack of findings during the study, Nguyen repeatedly claimed publicly there were severe problems at the $1.5-billion county health plan.
Those problems, she told her Board of Supervisors colleagues, justified a new county ordinance remaking the CalOptima board and giving control to the medical industry and county government.
A three-member majority of the Board of Supervisors, including Nguyen, Supervisor Bill Campbell and Supervisor Pat Bates, ultimately adopted the new ordinance but never did a public analysis of alleged management wrongdoing at the agency.
According to Leadership and Ethics Professor Ann Buchholtz, Research Director of the Institute for Ethical Leadership at Rutgers Business School, the Theodora Oringher reports and surrounding events raise serious ethical issues concerning the Board of Supervisors and the way they handle public finances and policy.
Lack of “transparency and due diligence,” are the main ethical failings of the three-member Board of Supervisors majority that voted in December 2011 to overhaul the CalOptima board of directors, said Buchholtz.
“The board (of supervisors) is ethically responsible” for making sure CalOptima is well-run," she said. “You would not want to make major changes without evidence. They should have insisted on someone getting in there and finding out what is going on” before voting to support Nguyen’s new ordinance. And, she said, those findings should have been public.
It’s hard to see the bright side to the financial upheaval in Detroit and other distressed governments. But if there is one, it’s that taxpayers, journalists and others are starting to pay attention to government financial statements.
As new users come into the fold we’re reminded that the defining feature of government financial reporting is complexity. The Management’s Discussion and Analysis, or the MD&A, gives governments a chance to tell its financial story, but it also raises questions.
Bloch points out two key facts about the MD&A. First, many local governments don’t invest much in it.
Second, and more important, a boilerplate MD&A can actually hurt a government’s credibility.
On January 30, the Economic Studies Program at Brookings held an event to discuss key current policy issues, including dark pools and their operations, payment for order flow, and the rules for ensuring best execution of customer orders. Martin Baily moderated a panel with Gregg E. Berman of the Securities Exchange Commission, Douglas Elliott of Brookings, Chester Spatt of Carnegie Mellon Tepper School of Business, and Daniel G. Weaver of Rutgers Business School, Department of Finance & Economics, to frame the topic.
The Second Annual New Jersey Gold Coast Investment Summit, the region's popular commercial real estate and economic development forum, will be held on March 5 at Maritime Parc in Jersey City, NJ.
New Jersey's Gold Coast is Greater New York's exciting new real estate market. With an influx of new multifamily and office tenants, and World Trade Center occupancy in Lower Manhattan, this region is poised to see significant growth in the years ahead. Experts say the region's proximity, tax incentives and unique-and-burgeoning submarkets make this a time for investors and developers. Join the most active investors, developers, capital sources, brokers, tenants and technology firms for an important New Jersey Gold Coast update.
Women represent just under 14 percent of the total board seats of New Jersey’s 111 largest publicly held companies. That statistic is slightly better than the national average, where just 12 percent of corporate boards of directors are women.
It is one example of workplace gender disparity found in “A Seat at the Table: Celebrating Women & Board Leadership,” (PDF) a report released yesterday by Executive Women of New Jersey.
Nancy DiTomaso, a professor in the Department of Management & Global Business, and vice dean at Rutgers Business School, said New Jersey companies may have more female board members because most of them are large and “can’t really avoid this issue. They have moved to make sure they have at least one woman on their board of directors,” she said.
There was little surprising or encouraging about “A Seat at the Table, ”(PDF) DiTomaso said. But she added the report does shine a light on gender inequality. “Without calling attention to these issues, not much changes. The fact that there is continued pressure on companies to pay attention to the issue, and evidence provided that more female board members makes a positive difference, I think it’s a good thing. Even if the results aren’t so optimistic.”
Omni-Channel Retailing is “the evolution of multi-channel retailing, but is concentrated more on a seamless approach to the consumer experience through all available shopping channels, i.e. mobile internet devices, computers, bricks-and-mortar, television, radio, direct mail, catalog and so on” (Definition from Wikipedia).
For the customers, this translates to a consistent and positive experience, no matter what part of the retailer you are dealing with, since all channels should have full knowledge of your activities, experiences and history with each channel.
For Returns, this should mean an easy positive experience as well.
85% of customers WILL NOT shop with you again if the return process is not convenient.
95% of customers WILL shop with you again if the returns process is convenient
In his presentation, titled “Returns in the Omni Channel”, organized by the RLA Consumer Products Committee, Dr. Dale Rogers, Professor, Logistics and Supply Chain Management at Rutgers Business School, provided an overview of the Omni-Channel and some of the impact it will have on Returns and Reverse Logistics.
Snapchat (a photo messaging application) added an image-based security challenge to its account registration process to verify that new accounts are created by humans, but the system can easily be defeated by computers, experts said.
The new feature, known as a CAPTCHA (Completely Automated Public Turing test to tell Computers and Humans Apart), is part of a series of security-related changes made by the company this month following the disclosure of vulnerabilities that allowed attackers to match large sets of phone numbers to Snapchat accounts and to register new accounts in bulk.
"I'm just saying that if it takes someone less than an hour to train a computer to break an example of your human verification system, you are doing something wrong," said Steven Hickson Hickson, a research assistant at Georgia Institute of Technology. "There are a ton of ways to do this using computer vision, all of them quick and effective. It's a numbers game with computers and Snapchat's verification system is losing."
David Lorenzi, a graduate research assistant in the Department of Management Science and Information Systems at Rutgers Business School in Newark who researched attacks on image CAPTCHA systems in the past, agreed with Hickson's analysis.
"The key takeaway is that the [Snapchat] CAPTCHA simply has too low of a variation in its challenges -- images featuring a ghost -- to provide effective security," Lorenzi said Thursday via email. "I suspect Snapchat used a template based image generator in the creation of these picture challenges as it would provide an effective and efficient means to easily generate a large number of 'unique challenges' in an attempt to prevent an attacker from launching a database attack against it. Sadly, this also means that the images generated in this fashion are weak against the method Steve [Hickson] is using."
Lorenzi hopes this case will inspire other developers to be more concerned about their CAPTCHA implementations so they can make online services safer for everyone.
Blogging in The New Yorker, Professor Michael Santoro, Department of Management and Global Business writes: “Fabrice Tourre, the former Goldman Sachs Group trader who, last August, was found liable for misleading investors in an infamous 2007 deal known as Abacus, is pursuing a Ph.D. in economics at the University of Chicago. Observing him in court last August, I couldn’t help wondering what my reaction would be if he were a candidate for a teaching job at the university where I teach.”
Women small business owners from varying industry sectors - some of whom with annual revenues of a million-plus - have credited their tenacity as well as the New Jersey Small Business Development Centers network for much of their development and growth. Small business drives the economy and leads the way for innovation and job creation throughout the state. These NJSBDC women business clients lead the way with their success stories.
Clients of the NJSBDC network, including women at the helm, have further developed and grown by seeking the advice of and guidance of the NJSBDC's business professionals. The network provided more than 20,000 hours of one-on-one counseling to more than 5,000 small business owners and entrepreneurs in 2012. Data for 2013 will be released in February"We believe these women are great examples of how perseverance and attention to details can pave the way for great accomplishments," NJSBDC CEO-State Director Brenda Hopper said.
"Our network's business experts helped them succeed in getting to these great benchmarks and will continue to provide guidance during the various stages of growth to come," added Deborah Smarth, NJSBDC chief operating officer-associate state director.
Brick City Development Corp. CEO Lyneir Richardson has spent the past four years advocating for urban revitalization in Newark. He plans to do the same thing at his next job, except from a broader vantage point.
Richardson will now lead the Center for Entrepreneurship and Economic Development at Rutgers Business School, also based in Newark. He starts his new role March 3.
"It's four blocks away," said Richardson, who moved to Newark from Chicago when taking reins at BCDC. "I'm not leaving the city or leaving the work. I'm taking a different seat at the table."
Richardson said the next phase of Newark's economic development requires more focus on strengthening neighborhoods by better connecting residents to local resources. Rutgers-Newark is the right place to do that, said Richardson, who noted that Chancellor Nancy Cantor has stressed the role of universities as anchors of communities.
The entrepreneurship center pushes urban revitalization by combining academic research with boots-on-the-ground private capital and resources from the public and nonprofit sectors.
Editor’s Note: The following post comes to us from Divya Anantharaman of the Department of Accounting and Information Systems at Rutgers Business School and Yong Gyu Lee of the School of Business at Sungkyunkwan University.
In our paper, Managerial Risk Taking Incentives and Corporate Pension Policy, forthcoming in the Journal of Financial Economics, we examine whether the compensation incentives of top management affect the extent of risk shifting versus risk management behavior in pension plans.
In order to maintain an efficient supply chain, it is very important to know the unknowns. Dr. Dale Rogers, professor, Logistics and Supply Chain Management, Rutgers Business School and Tad Kelly, Manager, Transportation Services, Legacy Supply Chain Services, explain in detail how to deal with these unknowns.
In the last few years, firms have developed new strategies for managing risk. At the same time we have seen the number and severity of risk increase.
Firms have to take into consideration many more sources of pressure and risk than they had to previously. As a supply chain matures it almost always becomes more complex. This means that the firm has to take on more complexity while at the same time outsourcing more to different kinds of suppliers. Supply chain complexity is problematic in many industries.
The Rutgers Office of University-Community Partnerships is jointly hosting A Super Celebration of Jazz Saxophones at Rutgers University Newark, on Tuesday, Jan. 28, 2014, at 6:30 p.m. This special campus and community event will celebrate the jazz heritage of the city of Newark and will feature The Kenny Garrett Quintet led by internationally renowned, Grammy® Award winning saxophonist Kenny Garrett. The concert will take place at the Paul Robeson Campus Center, 350 Dr. Martin Luther King Jr. Blvd., on the campus of Rutgers University-Newark, and will be free and open to the public.
First impressions are short-cuts, but sometimes our instincts are off. In one study of hedge funds, Ankur Pareek, Department of Finance and Economics, and Roy Zuckerman found that managers that looked more trustworthy attracted more funds, but there was "no evidence that perceived trustworthiness predicts actual manager skill." In fact, the trusty-seeming managers generated worse returns.
"The extraordinary gains of the stock market in 2013 have not been matched in the paychecks of ordinary working people and small businesses," said Michael Santoro, professor of business ethics at Rutgers University. Outlined in his book, "Wall Street Values," he argues that market fortunes have become increasingly separated from the rest of society.
Harvard Business Review blog post: "White People Do Good Things for One Another, and That's Bad for Hiring" features Nancy DiTomaso's research for her book: The American Non-Dilemma: Racial Inequality Without Racism. Nancy DiTomaso is the vice dean for faculty and research and a professor of management and global business at Rutgers University Business School–Newark and New Brunswick.
Hedge fund firm Gottex Fund Management is readying a new mutual fund that will let retail clients sample asset classes normally reserved for millionaires, like hedge funds, private equity and real estate.
"It is certainly an attractive pitch to get access to what millionaires can access for much less," said John Longo, a professor of finance and economics at Rutgers Business School, and chief investment officer of wealth advisor MDE Group.
"Investing in hedge funds makes sense now," he added. "But it is also important to compare prices."
Holiday shopping season is in full swing, but some people might be getting more than they paid for. National Public Radio host Michel Martin talks about racial profiling, and what to do if you're a target. She's joined by Rutgers Business School professor Jerome Williams, Department of Management and Global Business, and attorney Melba Pearson.
Three Rutgers faculty members have been named fellows of the National Academy of Inventors: Joachim Kohn and Kathryn Uhrich, professors in the Department of Chemistry and Chemical Biology in the School of Arts and Sciences, and Richard Mammone, professor in the School of Engineering and the Rutgers Business School.
Christopher J. Molloy, senior vice president for research and economic development at Rutgers, congratulated the university’s first NAI fellows.
“Professors Kohn, Mammone, and Uhrich exemplify the high level of scientific excellence and creativity among the Rutgers faculty, and they are recognized leaders both in their fields of research and within the university,” Molloy said. “It’s noteworthy that all three have been influential teachers and mentors to students and postdoctoral fellows over the years, while achieving great success in their research and commercializing their results.”
The long-blighted city of Newark, New Jersey, is undergoing its biggest economic growth period since the 1950s.
Ron Shapiro, the head of Rutgers University’s Center for Real Estate Studies, said Newark’s turnaround can be largely attributed to a few investors who’ve taken a risk on the city and paved the way for others.
“I think people were waiting on the sidelines, waiting for someone to lead them through the maze,” said Shapiro, who was also a former executive at several banks, including Union Center National Bank and Wells Fargo.