Creative people drawn to work in the fashion industry don’t necessarily have business skills, while business professionals interested in fashion industry jobs often know little about the field’s creative side.
The Rutgers Business School-Newark and New Brunswick aims to breach that gap with a new Master of Science in Business of Fashion program to create a new breed of industry professionals, said Tavy Ronen, founding director of the program and an RBS finance professor.
"In the fashion industry, there seems to be a big disconnect between the business sector and the creative field – there’s a real chasm between the two," Ronen said. "We decided it would be great to provide a program for creatives who want to learn how to run a business and for business professionals who want to work in the fashion industry."
The 30-credit program, which can be completed in one year as a full-time program or two years part time, will launch in the fall with 25-30 students in Jersey City, across the Hudson River from the New York City fashion industry.
Unlike other fashion-related business programs that emphasize retail merchandising, the Rutgers program focuses on core business principles, with courses including finance, accounting, supply chain management, marketing and entrepreneurship. "What we’ve put together covers all interdisciplinary fields," Ronen said.
Fashion industry executives told a RBS task force, set up in 2012 to explore the need for a master’s program, of a demand for graduates who have a better understanding of skills – including retail math, retail production and supply and demand – as they relate to the fashion industry, Ronen said. Research by RBS reaffirmed that graduates who have an understanding of both the business and creative elements of the industry make for stronger, sought-after job candidates.
Business Insight: Leveraging supply chain management concepts to improve healthcare
In a new Business Insight video, Professor David Dobrzykowski explains how new technologies and process-related techniques can be used to make healthcare delivery more efficient by improving information-sharing and more stream-lined hand-offs.
"Supply chain management, while it means a lot of things to a lot of people, can fall under the broad umbrella of trying to better improve the coordination of information, material and financial exchanges among organizations."
Listen to Dobrzykowski describe how the delivery of healthcare services is being transformed.
Watch the video