Media Coverage

One of the hardest parts of working remotely is losing the built-in social life an office environment provides. But just because you’re not in the same building as others doesn’t mean you’re doomed to be a hermit.

When friendships happen among colleagues, “people feel more engaged, turnover and absenteeism go down, we see better performance, people are better communicators, there’s even a link to innovation,” says Terri Kurtzberg, a professor of management and global business at Rutgers Business School and author of the book Virtual Teams: Mastering Communication and Collaboration in the Digital Age.

During the call or video chat, Kurtzberg encourages people to be vulnerable and share what’s really going on in your life. “Sometimes we aim for professionalism to the point where we don’t come across as human, and I think people like it better if you’re just a person,” she says. “Let people in a little bit to your world. It goes a long way in building connections.”

For several years, Rudolf Leuschner, Rutgers University associate professor in the department of supply chain management, has taught a class on risk mitigation. The 2021 course focuses exclusively on the pandemic.

Each week, guest speakers from different organizations virtually discuss challenges they've faced during the past year. Students break into groups to brainstorm potential solutions, and then the presenter discusses the approach the organization actually took.

When developing this version of the course, Leuschner and his colleagues "didn't know if 10 students or 100 students would attend," he says. As it turns out, enrollment was the highest it has been, at about 60. Most are current Rutgers students. They're joined by about a half-dozen alumni and several prospective students auditing the course.

Students say they appreciate learning firsthand the challenges encountered by supply chain professionals working through the pandemic.

Just as COVID-19 has altered supply chain organizations, it's also having a lasting impact on supply chain education.

Warren Buffett will no longer host business student groups in Omaha.

The decision, relayed by Buffett’s office to college professors who brought thousands of their students to visit Buffett in Omaha over more than two decades, noted that he will turn 88 on Aug. 30. The note to professors says Buffett “has decided to cut back on speaking engagements — especially commitments many months into the future.”

“We were sad to get the news,” said Rutgers University business professor John Longo, who has brought groups of students three times to the Buffett question-and-answer program and hoped to bring another group in 2019. “I guess it had to end sometime, but I’m sad it’s ending now.

Word of the decision has gotten to the students, Longo said. “There was some disappointment that we couldn’t go back, but I have nothing but fond memories of the experience, and I’m grateful for the trips we took. ... I hope he lives past 100.”

IIM Indore signed an MoU with the state university of New Jersey (Rutgers) for development of joint and dual degree programmes and
collaboration for student and faculty exchange.

IIM-Indore director Prof Himanshu Rai signed the MoU with Rutgers University academic affairs executive vice president Prabhas V Moghe and global affairs vice president Professor Eric Garfunkel.

He also welcomed Professor Ashwani Monga, Provost and Executive Vice Chancellor of Rutgers University-Newark on the International Advisory Board of IIM Indore, that has renowned academic and corporate leaders from around the world.

The Rutgers Center for Corporate Law and Governance launched its Fintech and Blockchain Collaboratory on February 19 with an event that involved nearly 40 participants, including leading law firm partners, counsel from major blockchain and fintech (financial technology) companies, former regulators, a representative from the World Economic Forum, and academics from American and European universities.

Besides leading the Collaboratory, the Rutgers Center sponsors a course on financial regulation and innovations. Professor Guseva co-teaches the course with Merav Ozair, associate professor and fintech faculty member at the Rutgers Business School. The instructors have invited several guest speakers and crypto-practitioners to share their expertise with the students.

Governor Phil Murphy today announced the appointment of members to the New Jersey Council on the Green Economy. The Council, which was established under Executive Order No. 221, will be overseen by the Office of Climate Action and the Green Economy, and serve to develop a blueprint for expanding the green economy and building a diverse workforce to support the Administration’s clean energy and climate goals.

“It is an honor to be asked by Governor Murphy to serve with the NJ Council on the Green Economy,” said Kevin Lyons, Associate Professor Supply Chain Archaeology, Rutgers University. “I am looking forward to contributing to the development of a comprehensive green economy strategy to support New Jersey’s clean energy future and the jobs that will be created.”

Report Illustrates How Credit-Based Pricing Perpetuates Economic and Racial Inequalities Impacting Millions of Americans

"We're at a pivotal point where things are going to be different," said Dr. Jerome Williams, Rutgers University Distinguished Professor. "Companies that continue to exploit and treat consumers unfairly, will eventually see consumers start to exit and voice their concerns. It's going to hurt the company, and sometimes it will hurt the company so much that it's tough to turn it around."

Fitchburg State celebrated Black History Month by holding a series of conversations referred to as Falcon Talks. These conversations were hosted by the Fitchburg State University’s Alumni Association. Yla Eason, an entrepreneur and Fitchburg State ‘71 alumna, put together a presentation concerning black images and black representation in toys and the media. She presented this information in a Google Meet on Feb. 11. Afterwards, a question and answer session was held so as to extend the conversation to the university community.

Rutgers Business School in New Jersey offers the Mini MBA in Digital Supply Chain, which is an executive education course. The majority of learners are leaders of organizations, or hope to become leaders.

The program currently covers ten topics across various parts of the supply chain, such as supply chain analytics, robotic process automation, supply chain finance and economics.

“Participants learn about what drives the supply chain of the future,” says Rudolf Leuschner, associate professor in the department of Supply Chain Management at Rutgers, adding that the curriculum has to change very frequently to keep up with developments in the sector.

Indeed, other courses in the Mini MBA now cover how the pandemic has affected supply chains and in particular, the importance of resilience. “Most customers have delayed payments to suppliers and there is a significant liquidity crunch affecting smaller and medium-sized suppliers,” explains Leuschner, adding that the economic disruption will continue even after the pandemic abates.

“This scholarship money will help make it possible for underrepresented students to attend Rutgers Business School, to study the field of supply chain management, and to consider many possible career paths,” says Lei Lei, dean of the Rutgers Business School. “We strive to promote diversity and inclusion across all of the academic programs within Rutgers Business School. The ability of companies like Gebrüder Weiss to create scholarships for underrepresented students helps us to achieve that and strengthens our efforts to cultivate professionals and leaders for the future business world.”

In the wrong hands, companies can have a progressive hiring policy yet they flatten out the mental diversity.

It's the mix of different ways of thinking and frames of reference that can be so potent for great work.

Professor Daniel Levin of Rutgers Business School asked more than two hundred executives to reactivate contacts who were relatively dormant.

Some were then asked to to get two contacts to give advice on an ongoing project, while others were asked to get advice from more active contacts.

Overall, they found the most valuable, productive advice came from the dormant contacts.

Why? Because these are the people less likely to share our worldview or think and work like us.

It's so easy to give into the comfort of folks who agree with you, who are easy to work with.

But easy rarely leads to great.

Despite the ongoing challenges of the COVID-19 pandemic, the President’s Task Force on Carbon Neutrality and Climate Resilience remains on schedule to deliver a climate action plan this summer that will lay out a path to reduce the university’s carbon footprint and help Rutgers and the state of New Jersey manage the risks of a changing climate.

“In the next few months, we will be choosing the building blocks of the climate action plan, establishing priorities and timing – what we can do right away, what can be done in two to three years, and what the university can do long range,” said task force co-chair Kevin Lyons, associate professor of professional practice at Rutgers Business School-Newark and New Brunswick and associate director of the Rutgers Energy Institute.

The online mentoring program, Rutgers Business School Guiding and Retaining Outstanding Women Students (GROWS), launched this semester in partnership with the Rutgers Business School Center for Women in Business (CWIB).

Lisa Kaplowitz, assistant professor of professional practice in the Department of Finance and Economics at Rutgers Business School and the center’s co-founder and executive director, said the program aims to give students insight on how to succeed as a woman in business and how to overcome the barriers they may face.

“Companies are ... trying to do a good job of getting equal representation of women at that entry-level, but they have not done a great job of making women feel that they are included and belong,” Kaplowitz said. “Where we see the biggest drop-off, if you look at the (McKinsey & Company) research, is at that mid-career level.”

Sangeeta Rao, assistant dean for mentoring programs at the Rutgers Business School, said the program entails five meetings in which mentees receive guidance and professional planning advice from their mentors.

The five meetings cover five essential skills for women in business: self-assessing strengths and weaknesses, articulating effectively, communicating with confidence, dealing with imposter syndrome and positioning oneself for success, she said.

Panelist Lyneir Richardson, executive director of the Center for Urban Entrepreneurship & Economic Development (CUEED), at Rutgers Business School, discussed the many “capacity-building” programs aimed at Black and Latino students and community members. These programs provide skills, knowledge, tools and mentorship to get urban businesses to the next level.

CUEED started more than 10 years ago in order to foster more diversity among entrepreneurs. “Over the last 10 years, we’ve assisted over 500 entrepreneurs, with 70 percent of entrepreneurs of color and over 60 percent women,” Richardson stated.

He added, “I’m proud of the fact that over 40 percent of them now [each generates] more than $1 million in revenue.” A million dollars is a threshold of business viability and customer acceptance, Richardson noted. It indicates a company’s readiness to talk to bankers and investors. The Center’s goal is to help 1,000 entrepreneurs achieve a million dollars in annual revenue.

Yla Eason
Assistant Professor of Professional Practice, Rutgers Business School-Newark and New Brunswick

In a recent report by Citibank, their research revealed startling facts about the cost of discrimination. When I read that “not addressing racial gaps between Blacks and whites has cost the U.S. economy up to $16 trillion over the past 20 years,” I was stunned.

First, I was amazed that Citibank would begin to explore racial financial discrimination when banks are often contributors to this malaise. I knew research by the late Rutgers professor Jerome Williams revealed that the actual treatment of Black-owned businesses seeking small business loans from banks “is consistently poor” and “significantly inferior in critical ways.”

Second, it made me think of the harsh criticism I often hear that generally starts with: “Why don’t Black people own more businesses?” I bristle at this question because it assumes a level playing field exists for those of us who do start businesses. Too often we discover the strange ways our efforts to create wealth through individual ownership of the means of production – basically capitalism – is thwarted by the very institutions that would benefit from it.

As a Black woman business owner who started a toy company in 1985 and grew it to $5 million in sales, I sadly learned that my revenue achievement put me at the top 3 percent of Black-owned businesses. While proud of my accomplishment, it was a stark reminder that our upper level was a lower-middle range for white-owned businesses. The lack of access to capital is one of the reasons for this disparity.

As the report summarized, “providing fair and equitable lending to Black entrepreneurs, might have resulted in the creation of an additional $13 trillion in business revenue and potentially created 6 million jobs per year.”

It’s not too late to change.

Rutgers Business School professor John M. Longo called the University’s 2020 return “very respectable,” comparing the 7.3 percent return to a passive investment strategy of investing 60 percent in more risky assets and 40 percent in less risky assets.

“The 7.3% return of Harvard endowment in the most recent fiscal year is very respectable,” Longo wrote in an email. “Although not exactly comparable, a low cost, 60% stock, 40% bond fixed income U.S. portfolio delivered a return of 6.7%.”

Longo wrote that Harvard’s generalist model allows the school to vary its investment strategy for its financial gain.

“No one firm or institution has a monopoly on investment talent. Harvard’s generalist model has the advantage of not being beholden to a single manager or single investment approach,” Longo wrote. “Rather, Harvard’s investment team may scour the world for best-of-breed investment managers across a range of asset classes.”

The Thirty-Fifth AAAI Conference on Artificial Intelligence (AAAI-21) kicked off today as a virtual conference. The organizing committee announced the Best Paper Awards and Runners Up during this morning’s opening ceremony. Three papers received Best Paper Awards and three were recognized as Runners Up.

Best Paper Awards
Informer: Beyond Efficient Transformer for Long Sequence Time-Series Forecasting

Institution(s): Beihang University, UC Berkeley, Rutgers University, Beijing Guowang Fuda Science & Technology Development Company

Authors: Haoyi Zhou, Shanghang Zhang, Jieqi Peng, Shuai Zhang, Jianxin Li, Hui Xiong, Wancai Zhang

Sankofa is a word in the Twi language of Ghana that literally translates “fetch it go back and get it or “it is not wrong to go back for that which you have forgotten.”

The Sankofa concept advocates and encourages efforts to explore, examine, and educate blacks about the cultural and historical contributions of the Black diaspora. The foundations of Sankofa, fueled the establishment of a designated period to reflect and commemorate the historical contributions of peoples of African descent.

The evolution of Black History Month in the United States coincided with and was informed by the civil rights and Black movements. It would take decades of struggle for those movements to awaken the national consciousness and receive broad endorsement — particularly at the federal level. Today, Black History Month is widely observed not only in the United States but in several foreign countries throughout the diaspora. Despite wide acknowledgement, the observation, incites considerable controversy.

Fitchburg State University will celebrate Black History Month in February with a series of events exploring themes centered on the Black family.
The theme for the university events was inspired by the Association for the Study of African American Life and History.
For the university’s exploration of these topics, Fitchburg State’s Black History Month committee, including cross-sectional representation within the institution, solicited programs from across all campus constituencies.

Presentations will include a talk by Fitchburg State alumna Yla Eason ’71, a professor at Rutgers University, who founded a multicultural toy company that featured the first Black superhero toy created to promote positive self-images for her son and other children.

The transformation, fueled largely by a push to expand affordable housing and homeownership in this city of renters, is part of a deliberate strategy with an ambitious goal: erasing Newark’s long legacy of blight without pushing out residents, 86 percent of whom are Black or Latino.

Lyneir Richardson, executive director of the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School, ran Newark’s economic development corporation under the city’s former mayor, U.S. Senator Cory Booker.
“Getting investment to happen — it’s evolutionary, not revolutionary,” Professor Richardson said.
“And you’ve got to celebrate flowers in the concrete.”

As the saying goes, “money can’t buy love.” But it certainly can express it. This year, Americans collectively will spend more than $21.8 billion on Valentine’s day gifts — from greeting cards to jewelry to a special night out — with the average lovebird shelling out $164.76.

What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy?

Vice Chair and Associate Professor of Marketing, Kristina M. Durante said, "Like the holidays (Christmas, New Year’s) a couple of months ago, Valentine’s Day is an excuse to bring a little cheer to an otherwise uncertain time. Consumer spending may look different from other years with much of it happening online. Also, many of the options for bigger ticket spending are off the table such as weekends away or dinners out. While total spending may be down, consumers will still be motivated to bring some positivity to lockdown and some warmth to the frigid winter across much of the nation."

What are the most common mistakes people make when shopping for a car?

One common mistake is not being aware of the dealer invoice price, which is usually several thousand dollars below the manufacturer's suggested retail price (MSRP). Consumers should aim for a price as close as possible to the dealer invoice price. Another mistake is not shopping around for a good deal. A fair amount of pricing knowledge may be obtained by searching the internet. People that hate haggling over prices, a sizeable part of the population, should look into car buying services, such as that offered by Costco.

Make sure your emergency fund is set before spending on wish-list items, advises John M. Longo, Ph.D., CFA, professor of finance and economics at Rutgers Business School and author of “Buffett’s Tips: A Guide to Financial Literacy and Life.”

“The COVID-19 pandemic has made most understand that they should have an emergency fund of at least six months living expenses,” Longo said. “If you must shop online for non-necessities, then wait until your emergency fund is fully funded.”

What a post-pandemic recovery and the Biden White House could mean for the state’s manufacturers.

On Jan. 26, President Joe Biden signed the “Buy American” order, aiming to close loopholes in the federal government’s requirement to buy anything it needs from American companies. The move, Biden argued, is meant to bolster the nation’s manufacturing industry at a time when the economy as a whole could use a boost.

Kevin Lyons, an associate professor of supply chain management at the Rutgers Business School, said that local and state level economic efforts bode well for buying domestically, as long as public officials and business executives coordinate their efforts. Lyons is involved with the 2020 “Buy Newark” initiative, under which businesses headquartered in the state’s largest city buy directly from Newark businesses.

Wilmington Alliance’s annual Yes, Wilmington! fundraiser on March 18 will, like most events, be virtual this year. With a focus on equitable economic mobility, three national speakers will be featured, discussing topics like community growth and revitalization, income security and wealth accumulation for all.

Lyneir Richardson, the executive director of the Rutgers Center for Urban Entrepreneurship and Economic Development. He’s also the founder of Chicago TREND, a social enterprise that works with organizations seeking to better understand the trajectories of Chicago neighborhoods and invest in profitable retail projects that can drive transformative change.

Bill Ritter, "Tonight a look at a pandemic business trend that is rattling the pros on Wall Street. Amateur stock traders keeping busy while at home and taking some stocks to surprising heights. All of this to the 'say what?' of stockbrokers. Case in point: the computer store called GameStop the target of some amateur investors using Reddit to talk to each other and drive the stock up, despite the market blunders today. ABC7 reporter Darla Miles speaks with John Longo, Finance & Economics professor at Rutgers Business School."

How often should drivers get new car insurance quotes?

I would suggest reviewing your options annually, or perhaps every two to three years if you are happy with your current provider. In addition, if you ever file a claim, you will get a feel for what it is like to work with that particular firm. If you find the claim process to be unfair or a major hassle, it probably makes sense to look around.

What major factors should drivers consider when comparing car insurance quotes?

There are several factors to consider, with the most important being the cost, amount of coverage, and the timeliness and quality of the service.

Why should shoppers consider full coverage auto insurance over liability-only auto insurance?

If you have a newer car that is financed and you get in an accident that is your fault, it may result in a very expensive repair. If you have full coverage insurance, you will likely only be responsible for the deductible, which usually ranges from $250 to $1,000 per incident for most people.

What strategies can buyers use to find affordable full coverage insurance from a reputable provider?

It pays to shop around using various sites on the Internet. Most of the big insurance providers, such as GEICO, State Farm, Progressive, and Allstate, will also provide free insurance quotes. It is important to try to get an "apples to apples" quote since it is possible to get lower prices by having a higher deductible, lower cap, different coverage levels, and so forth.

The Center for Real Estate at Rutgers Business School has added a well-known title insurance professional to the team of industry leaders at the helm of its advisory board. Monica Casiello, director of marketing and business development at U.S. Title Solutions, joins the board’s executive committee alongside several developers, investors, and other commercial real estate influencers in New Jersey.

“Anyone that knows Monica knows that she is a driving force for real change and innovation for the real estate industry in New Jersey,” said Morris Davis, the Paul V. Profeta Chair of Real Estate and the center’s academic director. “Monica has been a strong supporter of the Center since it first began, participating on the Conferences and Events Committee and promoting the activities and programs of the Center to her expansive professional network.

This article originally appeared in Bloomberg.

Black paid Epstein $50 million in 2013, $70 million in 2014 and $30 million the following year. He made a $10 million donation to Gratitude America in October 2015, which was a charitable organization affiliated with Epstein.

That sort of compensation is unusual. Estate planning attorneys and tax advisers are typically paid by the hour or by the transaction. IRS regulations forbid tax practitioners from charging contingent fees “in connection with any matter before the Internal Revenue Service.”

But Epstein, with his atypical role and background, could avoid those rules, said Jay Soled, a Rutgers University professor who is also a practicing estate tax attorney. “This is a very unusual arrangement because he doesn’t really have training.”

As cashierless technology becomes normal, it could be used problematically for purposes beyond payment, particularly shoplifting detection.

Jerome Williams, a professor and senior administrator at Rutgers University’s Newark campus, told NBC that a theft-detection algorithm might wind up unfairly targeting people of color, who are routinely stopped on suspicion of shoplifting more often than white shoppers. A 2006 study of toy stores found that not only were middle-class white women often given preferential treatment, but also that the police were never called on them, even when their behavior was aggressive. And in a recent survey of Black shoppers published in the Journal of Consumer Culture, 80% of respondents reported experiencing racial stigma and stereotypes when shopping.

“The people who get caught for shoplifting is not an indication of who’s shoplifting,” Williams told NBC. In other words, Black shoppers who feel they’ve been scrutinized in stores might be more likely to appear nervous while shopping, which might be perceived by a system as suspicious behavior. “It’s a function of who’s being watched and who’s being caught, and that’s based on discriminatory practices.”

New Jersey employers are digging into their pockets to jump-start the state's vaccination program, but they are stopping short of using one tool at their disposal: making employees get the shot.

COVID-19 may give employers a more compelling case to mandate a vaccine, said Joanne Ciulla, director of the Institute for Ethical Leadership at Rutgers Business School-Newark and New Brunswick.

COVID-19 may give employers a more compelling case to mandate a vaccine, said Joanne Ciulla, director of the Institute for Ethical Leadership at Rutgers Business School-Newark and New Brunswick.

The disease has killed more than 20,000 New Jerseyans, infected at least 580,000 and has sent the job market tumbling; New Jersey in December had 8% fewer jobs than it did a year ago, according to the state Department of Labor and Workforce Development, and no sector escaped unscathed.

The vaccine, public health officials have said, could be the state's best chance to finally end the pandemic, saving lives and restarting the economy.

A scenario plan is a forward-looking document that’ll typically look at a couple of good – and not so good – scenarios for your business.
A comprehensive one will take time and money – and, yes, ‘futurists’ are available for hire – but small businesses can still put together a simple one with utility.

Lyneir Richardson is an instructor at Rutgers Business School and director of the institution’s Center for Urban Entrepreneurship & Economic Development. Here he provides insight into the importance of planning ahead. "The economic climate is changing so rapidly – it’s important that small business owners do scenario planning to make reality-based assessments and predictions."

The Spirit of Dr. Martin Luther King, Jr. visited me. Decades after his death, he remains amused and yet humbled by all the fanfare of a national MLK holiday. At the time of his death in 1968, he was deeply unpopular. J. Edgar Hoover, FBI Director, considered him the most dangerous man in America. Many whites opposed his campaign to obtain more rights and opportunities for Blacks. Most Americans viewed him negatively for one reason or another. On the one hand, his opposition to the Vietnam War and socialist proclivities – namely that the government should take care of those unable to fend for themselves — unsettled the populous. On the other hand, Blacks either questioned the legitimacy of his leadership as the principal voice for the Black community or they disapproved King’s nonviolent resistance and civil disobedience strategy.

By Jessica Remo | NJ Advance Media for NJ.com

The boxes that arrive on my front porch, nearly daily, are reminders that I’m complicit.
I bought almost everything — paper towels, underwear, groceries, you name it — online.
I am the retail apocalypse, the death of brick-and-mortar. The retail apocalypse is me. And I’ve never felt much guilt about it. Until now.

As to whether in-person shopping is on its way out?

Not a chance, says Rutgers Business School Professor Stacy Schwartz. But it may begin to look different.

“I cringe when I hear the phrase ‘retail apocalypse,’ because I don’t think it’s dead,” says Schwartz. “In a time of normalcy, people like to go shopping.”

How does the business world fit into the fight for racial equality?

From Madam C.J. Walker — the world’s first self-made female millionaire of any race — to contemporary business titans, like Jay-Z and Merck’s CEO Ken Frazier, Black business leaders have not only built their companies despite formidable obstacles, but they’ve viewed their work as an essential component of the struggle for justice.

A virtual panel discussion with the producer and director, Stanley Nelson is moderated by Chike Uzoka, founder and CIO of the Newark-based Valentine Global.

Panelists:
Kai Campbell: launched his first restaurant concept, Burger Walla, in 2014.
Stanley Nelson: the filmmaker who created “Boss: The Black Experience in Business.”
Lyneir Richardson: the executive director of the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School.
Denise Woodard: Woodard is the founder and CEO of Partake, a line of allergy friendly snacks.

The Mini MBA: Business Essentials at Rutgers Business School in New Brunswick teaches students about the power of the consumer, the impact of globalization, and the pervasiveness of the digital era. The 12-week self-paced program has two cohorts entering in 2021, starting in February and May.

Peter Methot, director of Executive Education at Rutgers Business School, notes how their portfolio of Mini MBA programs is topping up business knowledge.

“In our digital marketing program, almost everyone that comes has an MBA—they just earned it before digital marketing was part of the curriculum,” Peter comments.

“Financial illiteracy is one of the driving forces behind income and wealth inequality. What better way to become financially literate, and ultimately financially independent, then to use a framework inspired by the greatest investor ever?” Professor John Longo says. Just released at Amazon, Barnes & Noble, Books-A-Million, Indie Bound, Indigo, and Waterstone’s, by John Wiley & Sons, “Buffett’s Tip’s: A Guide to Financial Literacy and Life” is co-authored by John Longo and his son, Tyler Longo.

The book was influenced by four trips Professor Longo took to Omaha with groups of Rutgers students for a personal visit with Warren Buffett, affectionately known as the “Oracle of Omaha.” In parallel, he was teaching his teenage son aspects of financial literacy, further leading to the book collaboration. For example, they opened financial accounts and products geared toward minors, such as a savings account, checking account, debit card, credit card, brokerage account, and 529 college savings plan.

“It is important to understand the financial concepts that drive the economy and one’s financial position. Examining these topics through the lens of Warren Buffett may maximize one’s chances for success,” says Tyler Longo.

Sephora’s plan to combat racial bias: Fewer security guards, more Black-owned brands and new protocols
Retail and crisis management experts say the initiative provides a comprehensive — and necessary — road map for the industry

Racism in retail, academics say, has become a persistent problem in an industry that relies heavily on personal interaction. More Black Americans — 24 percent — said they had been treated unfairly in a store within a 30-day period than at work, restaurants, bars, health-care settings or in police interactions, according to a Gallup poll conducted last summer.

“This has been a problem for many, many years because, let’s face it, individuals bring their own biases to work,” said Jerome Williams, a business professor at Rutgers University and author of “Race and Retail: Consumption Across the Color Line.” “To make progress, there are two areas that are critical: employee training and a strong commitment by upper management to treat all customers fairly, without making assumptions.”

How does the business world fit into the fight for racial equality? From Madam C.J. Walker — the world’s first self-made female millionaire of any race — to contemporary business titans like Jay-Z and Merck’s CEO Ken Frazier, Black business leaders have not only built their companies despite formidable obstacles, but they’ve viewed their work as an essential component of the struggle for justice.

In the next PSEG True Diversity Film screening at NJPAC, they will take a look at the long and inspiring history of Black business leadership and Black entrepreneurship, and how both have impacted the social justice movement.

Panelists include:

Lyneir Richardson: Lyneir is the Executive Director of the Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers University, where he leads capacity-building programs that have assisted more than 450 local entrepreneurs.

ProfCon speaker Stacy Schwartz, assistant professor of professional practice and program director, MS digital marketing at Rutgers Business School, launched a new digital marketing program at her school. She discusses growing pains and other tips and tricks for developing and launching a new program in her speaking session titled “Lessons Learned: Launching a New Digital Marketing Program.”

The World and Everything in It is an Apple Podcasts top 100 News program delivering essential headlines, field reporting, interviews, and expert analysis every weekday.

Sarah Schweinsberg reports on the problems in the vaccine supply chain that are slowing the distribution of the shots. Xin (David) Ding specializes in healthcare supply chains and comments at 10:00.

Listen to the PodCast

On at least four occasions, Rutgers University students were the beneficiaries of some legendary financial acumen.

That’s a result of Rutgers Business School professor John Longo responding to the question of who might be a good mentor to teach local college students financial literacy with the answer: Warren Buffett.

And, after having his students meet with Buffett several times over the course of about 15 years, Longo is putting pen to paper on the insights he gleaned from the billionaire CEO of Berkshire Hathaway.

In November, Rutgers Business School announced it would be endeavoring to make its curriculum more accessible with a new format, called the Rutgers Stackable Business Innovation Program. It allows students to pick classes in an “a la carte” fashion, instead of committing to a standard, predefined two years of college courses for a degree.

Benjamin Melamed, a professor in the Department of Supply Chain Management at Rutgers Business School, is the program’s director. He said the current model simply isn’t flexible enough for some working professionals.

Nurse Kristen Cline was working a 12-hour shift in October at the Royal C. Johnson Veterans Memorial Hospital in Sioux Falls, South Dakota when a code blue rang through the halls. A patient in an isolation room was dying of a coronavirus that had raged for eight months across the country before it made the state the brightest red dot in a nation of hot spots.

Cline knew she needed to protect herself before entering the room, where a second COVID-19 patient was trembling under the covers, sobbing. She reached for the crinkled and dirty N95 mask she had reused for days.

Kevin Lyons, an associate professor and supply chain expert at Rutgers Business School, said nothing the VA did before or during the pandemic showed it had a handle on its own purchase and delivery of supplies, let alone prepare for a global shortage. His research is exploring how the Trump administration’s purge of hundreds of VA staff members created a path to disaster.

The logistics industry has seen a flurry of drone activity with UPS, Amazon Prime, Walmart and others working closely with the FAA. But widespread adoption for these operations has been precluded by the slow pace of regulation. New drone rules bring that future a little closer to reality.

Kevin Lyons, associate professor of supply chain management at Rutgers Business School, noted hurdles still remain. Many people and organizations see drones as a serious privacy issue, which can make the concept of home delivery via drone unappealing.

"Cameras on the drones need to be active at all times so the drones will be literally recording everything it sees," Lyons said in an email. "The ability to see into peoples houses, backyards, etc. is something that currently exists with satellites ... but the drones will be a visible intrusion to many people."

On average, you'll spend 19% more time doing your tasks and solve 22% fewer problems.

“The fact of consulting our smartphone during our breaks, between tasks, or during their completion, is an increasingly common phenomenon. This is why it seemed important to us to explore the consequences linked to the use of this device on the cognitive level. Many of us think that this is just another way to decompress, but it turns out that looking at our smartphone makes it harder to focus on work tasks again”, explains Terri Kurtzberg, co-author and associate professor of management and international business at Rutgers University.

At the end of each year, we publish a list of the 10 stories that most captured our readers’ interest over the course of that year. Our top story for 2020 referred to the themes of diversity and inclusion, which were so important to us all year long.

1. Black and Latino Angel Fund Backed by Rutgers Ready to Hear Entrepreneurs’ Pitches, June 19, by Esther Surden

It’s been a long journey, but the Black and Latino Angel Investment Fund of New Jersey is about to hear pitches from the first three entrepreneurs hoping for investment.

The fund, started by Lyneir Richardson, executive director of the Center for Urban Entrepreneurship & Economic Development at Rutgers Business School in Newark, has 10 angel investors and has raised $500,000 so far. The angels want to invest at the pre-seed level in companies headed by black and Latino founders in the Newark area. The fund continues to look for new angel investors to join on this journey.

While every American hospital was stretched by the pandemic, the VA’s lack of an effective system for tracking and delivering supplies made it particularly vulnerable, according to a recent examination by the federal Government Accountability Office.

As COVID-19 overwhelmed the antiquated system, VA leadership asked employees at more than 170 hospitals to enter inventory by hand into spreadsheets every day and did “not have insight” into how resources were being deployed, the report said.

Kevin Lyons, an associate professor and supply chain expert at Rutgers Business School, said nothing the VA did before or during the pandemic showed it had a handle on its own purchase and delivery of supplies, let alone prepare for a global shortage. His research is exploring how the Trump administration’s purge of hundreds of VA staff members created a path to disaster.

Lyons, an Air Force veteran, told me top VA officials have been able to claim all’s well — even as nurses and doctors describe continued shortages and rationing — because bureaucrats who awarded contracts did little or nothing to track how they worked out. He said the rapid-fire approval of contracts gave “the appearance that we’re doing something. But there was no connection between the nurses and the doctors who actually need it.”

“All they really care about is, you know, signing a contract, and then crossing your fingers and hoping that stuff comes,” Lyons said. “And that’s just not the way that supply chain is supposed to happen.”

This holiday season is shaping up to be quite different for many of us. One marketing professor said the pandemic has created new trends that will probably stick around for a while.

Rutgers Business School marketing professor Ashwani Monga said the new routines created by the COVID-19 pandemic are reflected this holiday season.

"I've created new habits. So now I do my shopping online. I may spend more time with my family on weekends even after COVID is long gone. Some of these habits are going to stay with us,” Monga explained.

Monga said it might be bad news for brick-and-mortar stores but not necessarily for the economy because of online shopping. But he added this trend is a mixed bag.

"You have one segment that's saving a lot of money right now, they are going to have a lot of discretionary income to spend more and we have the other group of people who are unemployed,” Monga said.

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