The Fox School of Business and WHYY recently teamed up to host “Navigating the Internet for Better Financial Planning,” a program aimed at helping participants better evaluate online financial planning tools.
The Feb. 27 event was open to WHYY members and ran from 10 a.m. to noon in Alter Hall’s Capital Markets Room, which includes an array of financial software, dual-screen workstations and LCD displays and projection screens that can feature customizable stock data.
The program offered attendees hands-on evaluation of a number of Internet resources to help them ask the right questions about residential mortgage financing, retirement planning and investing.
Dr. Jonathan Scott, associate professor of finance and academic director of the Fox Honors Program, coordinated the event, relying on eight Fox honors students to help program participants navigate the Web. Those honors students made all the difference, he said.
“The program involved navigating between three different Web sites as well as returning to the financial calculator home page in Bloomberg and Yahoo Finance,” said Scott, who is also managing director of the Owl Fund, a hands-on investment management experience for students. “My experience in these computer lab settings is that no two people work at the same speed, and inevitably someone falls behind and becomes frustrated. Fortunately, the honors students were there to immediately help with any questions about what I was doing.”
The program addressed three areas where the Internet can help in financial planning: mortgage-related calculators, retirement-planning calculators and retirement investing.
For mortgages, attendees evaluated points versus no points, refinancing and 15- versus 30-year maturities. An in-depth use of Bloomberg’s retirement calculator helped everyone understand the factors that need to be considered in having enough money for retirement.
Participants also learned about risks and returns of retirement investing using tools from Vanguard and Morningstar. Throughout the program, participants were able to ask questions that covered a wide range of topics related to investing.
“Terrific,” WHYY member Gail Kaempf said in her description of the event. “Helpful in having a better understanding about finances and [Internet] tools to help. This makes me more confident in being self-sufficient rather then at the mercy of others!”
For photos of the event, click here
The Actuarial Science Program at Temple University’s Fox School of Business has been named one of 12 Centers of Actuarial Excellence in the United States and Canada by the Society of Actuaries, the industry’s largest professional organization.
To earn the distinction from the Society of Actuaries (SOA), the Fox School’s Actuarial Science Program – part of the distinguished Risk, Insurance and Healthcare Management Department – had to meet stringent requirements in degree curriculum, graduate count, faculty composition, graduate quality, integration, industry connections and research/scholarship.
“The universities that have been named Centers of Actuarial Excellence exemplify the highest standards in actuarial education, research and scholarship,” SOA President S. Michael McLaughlin said. “We are thrilled to recognize them for this accomplishment and look forward to building strong links between these universities and the profession.”
As a Center of Actuarial Excellence, the Fox School’s Actuarial Science Program is eligible to compete for substantial multi-year education and research grants provided by the SOA. If the Actuarial Science Program continues to meet Center of Actuarial Excellence criteria, it will maintain the designation for a five-year period ending Dec. 31, 2014.
“Being named a Center of Actuarial Excellence is a powerful affirmation of our talented faculty and staff, motivated students, cutting-edge research and wealth of industry partnerships,” Fox School Dean M. Moshe Porat said. “I take great pride in knowing that the Fox School is home to one of North America’s elite actuarial programs.”
The Fox School’s Actuarial Science Program integrates exam preparation into coursework and offers challenging curriculum, a wealth of networking opportunities, access to industry leaders and personalized service through advising, said Bonnie Averbach, director of the Fox School’s Actuarial Science Program since 1983.
The program, which started in the 1960s, offers undergraduate and graduate degrees in actuarial science, as well as a doctorate in risk management.
“Our program in actuarial science has long been one of the premier programs of its kind in North America,” said Dr. R.B. Drennan Jr., chair of the Fox School’s Risk, Insurance and Healthcare Management Department. “The faculty in the program are extraordinarily dedicated to the success of our students. We also boast many successful alumni who have assumed significant positions of leadership in the actuarial profession. I am extremely proud that our fine program has received this honor.”
Actuarial science students receive professional development through Temple’s Sigma Chapter of Gamma Iota Sigma, the international professional fraternity in risk management, insurance and actuarial science.
The Sigma Chapter is an extremely active Student Professional Organization that continuously earns honors for its performance and achievement. The Sigma Chapter has won the Edison L. Bowers Award, the highest honor from Gamma Iota Sigma, for 15 of the last 17 years.
Fox School actuarial science graduates have gone on to positions in a variety of fields at internationally recognized companies, such as CIGNA, Milliman Inc. and Towers Watson.
“Our Actuarial Science Program has a feeling of great accomplishment with this designation,” Averbach said. “It is a result of our strong academic programs, our committed faculty and the accomplishments of our students.”
In addition to Temple University, universities named Centers of Actuarial Excellence in fall 2009 include: University of Connecticut, Drake University, Georgia State University, Illinois State University, University of Iowa, Universite Laval, University of Manitoba, University of Nebraska, St. John’s University, University of Waterloo and University of Wisconsin-Madison.
“Safeguarding Homeland Security,” edited by Temple University professors, makes a case for public-private partnerships
PHILADELPHIA — In a new book about homeland security edited by a pair of Temple University professors, a collection of the nation’s leading political leaders describe – in their own words – how public-private partnerships can better prepare for, and recover from, major natural disasters and terrorist attacks.
“Safeguarding Homeland Security: Governors and Mayors Speak Out,” edited by Temple Professors Simon Hakim and Erwin A. Blackstone, makes specific recommendations on how the use of private companies and volunteer forces can supplement – or even substitute – the government and improve the response to homeland security issues.
The book, available now from Springer, suggests that some public services could be delivered more efficiently by contracting them out and highlights incentives for greater involvement of the private sector in the delivery of emergency services. “Safeguarding Homeland Security” also shows that up to $7.31 billion could be saved annually nationwide by shedding public services that are private in nature, such as responding to false burglar alarms, and privatizing other emergency services under competitive market conditions.
From Boston Mayor Thomas M. Menino’s creation of a volunteer emergency medical corps to provide inoculations to Houston Mayor William H. White’s use of business and civic leaders to provide services during hurricanes Katrina and Rita, “Safeguarding Homeland Security” contains contributions from elected officials across the U.S., including Chicago Mayor Richard M. Daley and Govs. Timothy Kaine (Va.) and Edward G. Rendell (Pa.).
While “Safeguarding Homeland Security” highlights the innovative public use of technology in the creation of fusion centers, data mining, digital cameras and improved telecommunications during crises, it also states that profit incentives could attract private participation in the creation of public-private partnerships to better provide homeland security services.
Specifically, “Safeguarding Homeland Security” suggests the establishment of regional civilian forces to supplement existing emergency agencies. Private security personnel are at least three times that of the public police, the book states, and could be recruited and trained for emergency positions – with senior executives leading preparation, response and recovery efforts.
Editors Hakim and Blackstone, of the Center for Competitive Government at Temple University’s Fox School of Business, write that the lack of profit incentive inhibits prompt adoption of technology to improve preparedness. Greater involvement of IT executives in the proposed public-private partnerships could enhance technology, and universities could provide a stage for private-sector technological solutions to public homeland security problems.
Dr. Simon Hakim
Dr. Hakim earned a Master of Science degree in City and Regional Planning from the Technion, Israel Institute of Technology in 1971. He received a Master of Arts degree and Ph.D. in Regional Science from the University of Pennsylvania in 1976. Dr. Hakim has been with Temple University since 1974, and he is currently a professor of economics and director of the Center for Competitive Government. He has conducted many research projects on security and alarm issues, and his work centers on analysis of criminal behavior, police operations, privatization of police and correctional institutions. He has published 58 referred articles and 14 books.
Dr. Erwin A. Blackstone
Dr. Blackstone received his Bachelor of Arts degree from Syracuse University and his Ph.D. from the University of Michigan. He has taught economics for more than 35 years. Prior to coming to Temple in 1976, Dr. Blackstone taught at Dartmouth College and Cornell University. He has published on a variety of antitrust topics, including mergers, dominance, reciprocal buying, collusion and damages. His publications include more than 40 articles in major economics and public policy journals, chapters in books, a monograph on private policing, and a book on the electronic security industry.
The Center for Competitive Government
The Center helps governments identify candidates for privatization and outsourcing, and it suggests step-by-step procedures for restructuring public services. It organizes conferences, conducts research and consulting projects, and publishes reports, books and articles in journals and magazines. The Center also has substantial experience in conducting large-scale consumer satisfaction surveys for the airport and the electronic security industries. Dr. Simon Hakim directs the Center, which is part of Temple University’s Fox School of Business. Hakim and Blackstone are also editors of “Protecting Critical Infrastructure,” a new book series published by Springer.
Constantine “Chris” Pavlides, an associate professor in the Fox School of Business at Temple University and founder of the Greater Philadelphia Senior Executive Group, died Tuesday morning in a single-car crash on Conchester Highway in Concord Township, Delaware County. He was 62. Mr. Pavlides, a member of the Fox School’s Entrepreneurship Program in the Strategic Management department, had served as executive director of the Fox School’s Innovation & Entrepreneurship Institute (IEI). He also introduced the Mid-Atlantic Diamond Ventures, a science and high-technology business cultivator, to the entrepreneurial portfolio of programs in the Fox School at Temple. During his time as IEI’s director, from 2004 to 2008, Mr. Pavlides elevated the program into the top 10 in the nation. As founder and chairman of the nonprofit Greater Philadelphia Senior Executive Group, Mr. Pavlides led the largest “C-level” executive networking organization in the tri-state region. The professional association for chiefs of business includes 1,000 members in Pennsylvania, New Jersey, Delaware and Maryland. “He was an enthusiastic advocate for entrepreneurship at Temple, for the subject matter and for the students,” Fox School Dean M. Moshe Porat said of Mr. Pavlides. “He organized executives, he connected the school to business people, and the students loved him. His vibrant teaching style made him complete.” During his career, Mr. Pavlides held various senior-level positions, including COO and CFO of StrikeForce Technologies, an identity protection and verification company in Edison, N.J., and CFO of high-technology start-up Electron Direct in Wilmington, Del. Earlier, he was managing director of global syndications for AT&T Capital Corp. and vice president of corporate banking for Chase Manhattan Bank. Mr. Pavlides was chairman of the International Entrepreneurship Interest Group of the United States Association for Small Business and Entrepreneurship. He also served on the Executive Board of the Global Consortium of Entrepreneurship Centers and was a member of the Small Business Institute and the International Council for Small Business, among many other leadership positions in business and education. He established the Temple University Council on Entrepreneurship and was the Greater Philadelphia region’s instructor of the Emerging 200 Initiative, a program by the U.S. Small Business Administration to identify 200 inner-city businesses across the nation that show a high potential for growth and to give them the resources and support to become sustainable. Mr. Pavlides earned a bachelor’s degree in economics from Kutztown University and an MBA in finance and international business from The City University of New York. Mr. Pavlides, of West Chester, is survived by his wife Charlotte and two children, Charles and Elizabeth. Pennsylvania State Police are investigating the cause of the accident. Funeral arrangements are pending.
Temple University’s Fox School of Business and other leading academic institutions have joined with global insurers in a survey sponsored by the United Nations Environment Programme Finance Initiative that sheds new light on the industry’s approach to sustainability and climate risks.
Coming just six weeks before the pivotal UN climate summit in Copenhagen, Denmark, a report highlighting the first-ever such survey of the powerful insurance sector – which controls trillions of dollars in assets – says the industry has a fundamental role in transitioning to a clean, green, low-carbon global economy.
As the lead academic institution, the Fox School of Business spearheaded the creation of the pioneering global survey, which covered a wide spectrum of key environmental, social and governance (ESG) factors – including climate change, human rights and ethics. The survey was distributed through a “viral” marketing campaign, social networking and other means to 30,000 industry professionals and academics across the globe, generating nearly 2,700 pages of data from 60 territories worldwide.
The Fox School partnered with eight advisory institutions, including Columbia University, University of Cambridge, University of Oxford and Verona University.
“We are pleased and privileged to lead a team that includes some of the finest universities in the world,” Fox School Dean M. Moshe Porat said. “This collaboration is clear evidence that the Fox School of Business, through our Enterprise Management Consulting Practice, is a leader in creating real solutions to the challenges in sustainability.”
The Fox School’s EMC contributes to business, economic and social development by combining the expertise of business leaders and research and practice faculty with the creativity, effort and skills of MBA students to provide high-quality, research-driven support to start-ups, corporations and nonprofit organizations in the region and across the world. The EMC distinguishes the Fox School as one of a handful of business schools that are able to demonstrate the management and leadership skills of its graduates.
“Our many goals with EMC projects often come down to just two: a best-of-a-lifetime learning experience for our students, and professional-grade, world-class consulting deliverables for our clients,” said Assistant Professor James W. Hutchin, director of EMC’s Initiative for Sustainability Strategies. “The global launch of a report on sustainability in insurance underwriting, an undertaking which relied heavily on the exceptional work of five Fox MBAs from around the world, is another fine validation of the success of our unique educational model.”
The 100-plus-page report, based on the survey and backed by the United Nations Environment Programme Finance Initiative (UNEP FI), was released Thursday, Oct. 22, at a major UN gathering of financial service companies in Cape Town, South Africa. The report reveals that many insurance company executives believe that in order to sustain their industry’s long-term economic health, they must integrate key ESG factors into underwriting guidelines, product development and other core operations. The report also builds a case for the development of “Principles for Sustainable Insurance” to guide the industry.
“While other business schools may encourage their students to ‘go forth and change the world for the better,’ our EMC program provides them the opportunity, structure and instruction to do that now,” Hutchin said.
The UNEP FI report, “The Global State of Sustainable Insurance — Understanding and integrating environmental, social and governance factors in insurance,” is available at www.unepfi.org/fileadmin/documents/global-state-of-sustainable-insurance.pdf
Tuesday, August 25, 2009 (Philadelphia, PA) — Stanley Angelo, Chairman of Westinghouse Lighting, has been named Entrepreneur in Residence at the Innovation and Entrepreneurship Institute (IEI) of the Fox School of Business, Temple University for the 2009 – 2010 academic year.
Mr. Angelo was selected for his accomplishments in transforming a family owned business into an international supplier of lighting products, as well as his entrepreneurial thinking, innovations and leadership in the lighting industry. Entrepreneur in Residence is the highest recognition of entrepreneurial success given by the IEI each academic year.
Says Moshe Porat, Dean and Laura H. Carnell Professor, Fox School of Business, “We are fortunate to have Stan Angelo as our Entrepreneur in Residence. His vision and accomplishments will be an inspiration to our aspiring and early stage entrepreneurs, especially since he is an alumni of the Fox School and Temple.”
In addition to providing strategic guidance for 2009-2010 applied programs in entrepreneurship, Mr. Angelo will teach workshops and “toolbox sessions” for students and alumni, and provide consulting for a select number of Temple alumni whose ventures are slightly post-revenue and rapidly growing.
“I am very honored to be selected as ‘Entrepreneur in Residence’ of such a great University and business school. My Temple business education was the foundation of my success in the global lighting marketplace, and I expect to share my 45-years of on-the-job training and business experience with outstanding Temple students,” says Mr. Angelo. I always felt that to know and not to do is not to know at all. I hope to excite and inspire students with the practical challenges and adventures that await them, and I’m sure, learn something from them, too.”
“Stan Angelo has all the attributes we seek in the IEI’s Entrepreneur in Residence: he is a highly accomplished entrepreneur, an out of the box thinker, someone who has transformed his/her industry, and a highly personable executive who can relate to and inspire our constituency,” remarks Jaine Lucas, Executive Director of the IEI. We are honored he accepted our invitation, and look forward to a productive year ahead.”
Temple University was ranked #5 in undergraduate and #11 in graduate programs in entrepreneurship byEntrepreneur magazine and the Princeton Review in fall 2008, and was cited as a Top 20 Most Entrepreneurial Campus by Forbes and the Princeton Review.
Fox School of Business, Temple University
Established in 1918, the Fox School of Business, Temple University has a distinguished tradition of preparing business leaders, professionals and entrepreneurs for successful careers. Today, it is the largest, most comprehensive business school in the greater Philadelphia region, and among the largest in the world with nearly 6,200 students, 155 full-time faculty and more than 52,000 alumni. Related websites are www.sbm.temple.edu (Fox School of Business) and www.sbm.temple.edu/iei (Innovation and Entrepreneurship Institute).
Westinghouse Lighting Corporation
Westinghouse Lighting Corporation is a leading manufacturer and marketer of lighting products, including light bulbs, lighting fixtures, ceiling fans, and decorative lighting hardware. Dedicated to offering the latest advancements in technology, Westinghouse Lighting Corporation provides lighting innovations for residential and commercial applications. For more information, visit us at www.westinghouselighting.com.
Today, more and more corporate business leaders are answering the call to step out of the boardroom and into their surrounding communities. Temple University’s Fox School of Business MBA program is no exception.
In August, 36 full-time, first-year MBA students donned their gloves and sneakers to participate in the inaugural “Give a Hoot!” day of service as part of their monthlong MBA Essentials pre-term orientation program.
Fox partnered with City Year, a nonprofit service organization that employs teams of young people from across the country, in their “Give a Year” program to perform public service in schools and communities.
A total of 51 Fox participants, including first- and second-year MBA students, alumni, faculty and staff, were shuttled to the local Athletic Recreation Center on 26th and Master streets in North Philadelphia to help repaint an auditorium and stairwell, clean up outdoors and create mural panels to surround playgrounds.
The day started with group calisthenics and cheers led by the City Year volunteers, who then assigned jobs to the Fox students.
“Our goal is to have this continue through future classes. Their decisions as CEOs, or whatever it might be, will impact their local communities,” Jason Bozzone, director of the full-time MBA and MS programs, said of Fox students. “We want to have Fox business leaders that are making ethical, moral decisions because their decisions have an impact on the community that they’re a part of.”
After reading about how a handful of MBA programs were integrating community outreach into their required orientation programs, Bozzone approached Brittni Devereaux, a second-year MBA student, to develop a plan that combined the service-learning concept with the goals of the Fox MBA program.
Christine Kiely, assistant dean of MBA and MS programs at Fox, said the day’s events served as a foundation for future classes and casework.
“Corporate social responsibility and sustainability are very important to build into curricula today. And with this service learning component, it’s not just a one-shot deal,” she said. “What we’re having the teams do this year is create the business plan for next year’s day of service.”
Working side-by-side, the MBA students, alumni, faculty, staff, City Year volunteers and even children from the recreation center put in a full afternoon of labor to brighten up the building.
Devereaux, a graduate intern for the full-time MBA program, picked City Year as a partner for the event after hearing about the organization in Professor T.L. Hill’s social entrepreneurship class.
“I’m hoping that after being involved in a day like today, students will broaden their scope to see that it’s not just about ‘my company and my team,’ but it’s about the community we live in, and the greater good of all the people that the business can affect,” Devereaux said.
That message was echoed throughout the day, including at a panel discussion after the community service work. Fox MBA students met with executives from SEI Investments, Eagles Youth Partnership and Villa, all of which are corporate sponsors of City Year. The business leaders discussed the ways in which their companies promote youth development.
“We get this idea that kids who go into nonprofit and public service sectors, like City Year, and MBA students have values that are so diametrically opposed, that they’re complete opposites to each other,” said Andrew Martel, a first-year MBA student from New Jersey. “But business success and community success go hand-in-hand. You’re not going to succeed working in Philadelphia if Philadelphia isn’t succeeding as a city.”
The Fourth Annual Social Entrepreneurship Conference was held on Wednesday, April 8, 2009, to increase awareness about social entrepreneurship. Temple University’s Fox School of Business’ Net Impact, Students for Responsible Business (SRB) and the Innovation & Entrepreneurship Institute (IEI) made this year’s conference possible along with PNC Bank, the Fresh Grocer, Sodexho and many other co-sponsors.
The day began with keynote speaker Dr. Dickson Despommier, professor at Columbia University, discussing the vertical farm project. He explained how this is an up-and-coming endeavor to keep the production of food consistent with the constantly rising population, which will be vital in the future. “I was amazed by the talk about farming in buildings inside of urban areas,” expressed Erick Glenn, assistant vice president of the PNC Branch on Temple’s main campus.
Local entrepreneurs and organizations such as the Fresh Grocer, Trader Joes, Michelle’s Granola from Baltimore, Md., the Community Design Collaborative and many other fresh food and farming entrepreneurs were at the conference. “Supporting local producers has several benefits like protecting your community, environment, and health,” said Ben Schneible, Students for Responsible Business (SRB) president. Panelists highlighted the importance of buying local and fresh food as it helps keep the local community stronger, which in return supports area businesses.
“At the conference, students learned that purchasing locally grown food benefits communities in three ways, including the creation of businesses, jobs and revenue for local communities; providing a fresher, healthier alternative to traditional supermarket foods; and reducing green-house gases generated by commercial vehicles,” said Jaine Lucas, executive director of IEI. “Such triple bottom line businesses are proof that entrepreneurs can make profit while also doing good.”
At the conference, students listened to a panel of speakers who discussed a variety of issues surrounding fresh and local food businesses such as the “Impact of Local Food on the Food Supply Chain” and “Access to Healthy Foods in Urban Areas.”
Reed Wilmerding, an MBA student with a concentration in MIS, attended the conference because he wanted to gather information for a consulting project through the IEI for Weavers Way, a farmers market in Mount Airy. “I was able to learn what other industry experts and businesses are saying about farming,” explained Reed.
“Ultimately, we hope that students were inspired by the stories and successes of the speakers, and start to think about how they can create entrepreneurial companies of their own that benefit people and/or the environment,” added Lucas.
“I have learned a lot by listening to what the other panelists are doing to become innovative, like the hydroponics idea that was discussed,” said George Cashmark, one of the panelists and the district manager at Sodexho.
The expo of local producers allowed students to put a face to what they were learning. For example, the Fresh Grocer gave out free samples of a new product they are making in their stores, called the cocoPop, made with rice, corn, wheat and sea salt. “We are working on fresh and healthy products like this one to meet customer demand and to offer more healthy options in our grocery stores,” said Eric Kim, co-founder of the cocoPop machine.
The Fresh Grocer displayed the plans for their new store in the expo being built on Temple’s campus in Progress Plaza, behind the 1300 Residence Hall. “The opening of the store will provide more than 100 jobs for the community,” said Sheila Lajoie, director of human resources for the Fresh Grocer. One student, a north Philadelphia native, said, “There has not been a grocery store in the area for over a decade.”
In December 2009, students will be able to walk over to the plaza and buy fresh and locally grown products, which is part of the sustainability process that many students learned about at the Social Entrepreneurship Conference.
The Sigma Chapterof Gamma Iota Sigma has done it again and brought home the prestigious Edison L. Bowers Award for the ninth year in a row — 14 out of the past 16 years!
The Sigma Chapter also received additional awards and scholarships making it the most awards won by a single chapter in the history of Gamma Iota Sigma.
Gamma Iota Sigma is an international professional fraternity for students studying risk management, insurance and actuarial science.
The Bowers Award was given at the 37th Annual Gamma Iota Sigma International Management Conference held in October 2008 in Virginia.
The Bowers Award was created to recognize the one chapter of Gamma Iota Sigma that demonstrates an exceptional, well-rounded and organized program each academic school year.
The Bowers Award takes into account public relations, industry relations, alumni affairs as well as other chapter activities. This award is the highest honor that a chapter can receive from the Grand Chapter of Gamma Iota Sigma.
Along with taking home the Bowers, the Sigma Chapter also received awards recognizing community service, membership development, public relations, alumni relations, and career development.
Finally, the Sigma Chapter was given four “Black and Gold Awards” for ‘Neighboorhood Bikeworks Fundraising Project’ and ‘The Gamma Ambassadors Program,’ ‘Creating an E-Commerce Website,’ and ‘Essentials of a Periodic Newsletter.’ These awards recognize unique chapter events and programs that can be replicated by other chapters.
In addition to these chapter awards, Sigma Chapter members and alumni received the following recognition:
Anita Benedetti Memorial Award
Kevin Johnson (Class of 2009)
This award recognizes outstanding participation with RIMS on the local and national levels.
Warren L. Weeks Scholarship
Tiffany Calhoun, (Class of 2008)
This award recognizes the effort to encourage individual members and the furthering of fraternity goals.
Elizabeth Lange Microsoft Scholarship
Paul Rossi, (Class of 2010)
This award recognizes a member’s successful chapter, family and community contributions.
Thomas J. Miles Actuarial Award
Former Sigma Chapter President Aaron Hill (Class of 2008)
This award recognizes a member of Gamma Iota Sigma that best represents the qualities of scholarship, leadership, character and service exemplified by Dr. Miles.The Sigma Chapter of Gamma Iota Sigma at Temple University will host the 38th Annual Management Conference in October 2009.
The Students for Responsible Business (SRB) hosted the first annual “Green by Design” week from March 23-27, 2009. This year’s event concentrated on informing students, faculty and staff about incorporating sustainability into business and personal practices, through a series of professional guest speakers, launching its Green Food Initiative and its eco-friendly laundry dispenser competition.
“Our Green By Design Week is focused on educating students about the opportunities in sustainable building, design and development,” commented Todd Oskin, SRB member and this year’s conference coordinator.
The week began with the commencement of SRB’s Green Food Truck Initiative; an effort to make the vending trucks around Temple University’s main campus more sustainable through a socially responsible graded ranking system. There are currently nine out of 20 trucks involved in the initiative. “We hope to have 75 percent of vendors involved, as we will be continuing this program throughout the summer and semesters to follow,” commented Jordan Salmeron, SRB member. Each truck receives a point for every sustainable action it takes. For example, offering a discount to customers who bring reusable mugs, giving paper/plastic bags only on request or purchasing local or organic eggs can earn a vendor points. Each point is worth one-fourth of a peach (SRB’s point icon), and the number of peaches the business collects will be displayed in SRB’s marketing campaign and on the truck’s sign. Therefore, students who support environmentally conscious vendors will be able to easily spot and purchase from these green trucks.
The speaker series showcased companies from diverse fields that offered a wide range of services and products including solar-powered systems, energy-efficient heat pumps and water treatment systems. The series began with SunPower Builders, the leader in southeastern Pennsylvania solar system installations. As made clear in the company’s description on its Web site, SunPower Builders merges “historic building techniques with contemporary technology.”
Josh Meyer, Temple University alumnus and key speaker, discussed the efforts of his company, PekaSys, which provides information about the top-performing sustainable products. “In the business model of PekaSys, the core idea is education,” explained Meyer. PekaSys currently features a German-imported product called, The Clear Rex Bubbler. According to PekaSys’ product description on their Web site, “The Clear Rex Bubbler is a fully biological on-site sequencing batch reactor (SBR) wastewater treatment system.” It transforms almost any septic tank into a wastewater treatment system because it can be retrofitted to an already existing reactor chamber. The system provides on-site wastewater treatment nutrient reduction and ecosystem protection.
Another noted speaker was Mordechai Levi, adjunct assistant professor in management science and operations management at Temple University, who talked about his company, Chi Sage Systems and its innovative green heat pump. The system can use multiple untreated sources such as ocean water, sewage water, lake water, river water and even more common geothermal water. By transferring energy from the source to the building or vice versa, the systems can heat or cool buildings with energy savings reaching 70 to 80 percent. Additionally, Chi Sage Systems offers energy-saving lights based on a new technology. Unlike other energy-efficient lights, its lights do not contain mercury and have a life expectancy of 60,000 hours, compared with 1,000 to 1,500 hours of regular lights. They have a luminosity of 60 lm/w, which is the same as the best fluorescent bulbs, and can go up to the equivalence of 400w, making them the only option for street lights. The lights’ color is similar to that of incandescent bulbs, thus making it comfortable and pleasant. The key to Chi Sage’s success is its ability to offer customers a no-cost installation and guaranteed savings at the same time for a long-term contract.
A two-day expo held in Alter Hall, and a student-designed laundry detergent distribution contest also occurred during the week. Student organizations and sustainable businesses Rho Epsilon, SEA, Green Depot, Big Green Earth Store, PekaSys, SRB and Joe Coffee, took part in the expo and provided information about their business organizations at their tables, while the Big Green Earth Store gave out samples of their Sun and Earth Laundry detergent. The purpose of the detergent distribution contest was for participants to design a system that will reduce or eliminate the waste from current laundry detergent dispensers. The most efficient system will be manufactured and used throughout the city and the winner will receive a cash prize. The week concluded with a “Going Green, Growing Strong” event hosted by the Alumni Association and a student and professional networking social sponsored by SRB at the Draught Horse.
Four Fox School of Business students attended the fifth annual CIBER Case Challenge at the Ohio State University Fisher College of Business this fall, competing against 15 leading business schools from around the world. TheCIBER Case Challenge brings teams from across the globe to compete in analyzing and presenting an international business case to judges. “Temple CIBER is pleased to sponsor a student team each year to participate in this exciting program, where students have an opportunity to apply the IB theory and methods they have been learning in the classroom in a real-life, practical application,” said Kim Cahill, director of Temple CIBER and the Institute of Global Management Studies.
The Centers for International Business Education and Research (CIBER) and Fisher’s International Programs Office hosted the event, which is co-sponsored by Temple CIBER.
CIBER was established under the Omnibus Trade and Competitiveness Act of 1988, to increase and promote the nation’s capacity for international understanding and economic enterprise. There are currently 31 CIBERs around the country.
Jason Chen, Alejandro Herrera, Kari Dunbar and Shoab Tajak represented the Fox School in the competition, which was held Oct. 28-31 in Columbus. They were selected by Temple’s CIBER office based on academic performance, presentation experience, international exposure and major/area of study. Dr. Arun Kumaraswamy, assistant professor of general and strategic management, served as the faculty advisor for Fox’s team, and prepared the students in advance by providing them with sample cases and practice scenarios.
Shoaib Tajak, an international and business economics major, explained, “Dr. Kumaraswamy was very instrumental in helping us prepare for the whole event. He made sure we understood how to effectively analyze a case for the important details, and disregard anything that was not important.”
The four-day challenge began with exploring the city of Columbus and taking students to the Honda USA production plant to witness the process of a Honda vehicle becoming assembled. As Kari Dunbar, an international business and finance major, explained, “At first, I thought it was going to be an experience where I would just see cars being built. Fortunately, the experience provided me insight into how global companies are dealing with the implications of the credit crunch, from shutting factories down to minimizing the output of vehicles.”
Similar to the hit television show, The Apprentice, each competing university team had to complete a specific task in 24 hours. At the end of the competition, they were to meet in a boardroom for their presentation. Starting at 9:15 am on Thursday morning and working until 7:00 am on Friday, students analyzed the case presented by Beauty Avenues, a Limited Brands company, and prepared a solution.
Jason Chen, a Fox international business major with a concentration in economics, explained, “Our approach focused on the international expansion of Limited Brands, specifically through existing production and distribution networks by means of partnerships and buyouts.” Alejandro Herrera, an accounting major, added, “The biggest challenge was obviously the limited amount of time available to prepare our presentation. Despite the difficulty, the pressure to complete the plan substantially helped me develop the way I approach business challenges and value the input of our team, which worked very well together in our preparation.”
The final cases were presented to a panel of multinational corporate executives from Central Ohio on Halloween morning. Although the Fox team did not make it into the final round, the judges’ feedback was positive, and Alejandro Herrera was recognized as the best performer in the room. Each student remarked on how the experience enabled them to work as a team, network and build valuable business strategy tools that will be beneficial in their future business careers.
“Working under tight deadlines in a stressful situation helped students understand the challenges that often confront real consultants in the business world and enabled them to present their ideas to the very executives who are managing the business challenges described in the case,” said Melissa A. Torres, director of the International Programs Office/CIBER at the Fisher College of Business. “Students also had a wonderful opportunity to learn how their colleagues from other business schools analyze the same issues and present their strategies, and to compare that to their own approach.”
The 2008 CIBER Case Challenge winners were: Singapore Management University (first place), Washington University (second place), Canada’s Concordia University (third place) and Audencia Ecole de Management of Nantes, France (fourth place).
Choose your own path and make your own destiny. Network. Be persistent, creative and innovative. Have passion. That was the message to students and some of the Philadelphia area’s most prominent entrepreneurs and business owners from panelists and speakers at the 9th Annual Women’s Entrepreneurial Conference, held on Oct. 28, 2008, in Mitten Hall’s Great Court. Tracy Davidson, NBC 10 news anchor and consumer reporter, moderated the event, marking her 6th year of involvement in the conference.
The conference occurs annually each fall and is a collaboration among Temple University’s League for Entrepreneurial Women, Fox School of Business, School of Tourism and Hospitality Management, School of Communications and Theatre and the Innovation and Entrepreneurship Institute.
The Women’s Entrepreneurial Conference is held to promote entrepreneurial leadership among not only Temple University students but also women and men, who are currently entrepreneurs and business owners or those who are interested in starting a business, and focuses on timely issues impacting entrepreneurs in business. “I wanted to be my own boss,” explained Michelle Farmer, executive senior sales director of Mary Kay Cosmetics. She has been building her business for 23 years and was a first time attendee of the conference.
Temple University President, Ann Weaver Hart, delivered a passionate and inspirational keynote address, which highlighted the “ABC’s” of entrepreneurial, innovative and history-making women. Past keynote speakers include, Tracey Davidson, Ritz Carlton and Rebecca Mathias.
President Hart used one of her favorite quotes by an influential woman, author and activist Laurel Thatcher Ulrich, to make her point. “Well behaved women seldom make history.” President Hart’s ABC’s consisted of a list of prominent women (doctors, scientists, teachers, singers and athletes) who experienced hardships in their quest to make their own paths and shape their own goals. These women made history by not allowing society to put them into categories and roles that were expected. These women were revolutionary pioneers in their respective careers. They transcended race, age, time period and accomplishments, and ranged from Philadelphia’s own Marian Anderson to athlete Mildred “Babe” Didrikson Zaharias. “We mustn’t let others slot us into any category to make history,” said President Hart.
This year’s event highlighted the various aspects of small business, including funding, planning and execution. Each panelist reinforced the importance of formulating an effective and realistic business plan, and creating a brand or face that enables a product or service to be distinguished from others in the market. Three of the panelists, Candice Caprice, Brian Linton and Jason Smikle, are Temple alumni.
“This year’s panelists said ‘Yes, you can do it.’ I thought our group was very inspirational. They spoke about how their dream became a reality,” said Dr. Betsy Barber, associate dean of the School of Tourism and Hospitality Management and the conference co-chair.
The panelists encouraged participation in the Fox School of Business Annual Business Plan Competition, recently renamed “Be Your Own Boss Bowl,” which is available to Temple University students, faculty, staff and alumni. The goal of the competition is to launch a brand new business in the Philadelphia region; however, it is not to be an extension of an already existing business. Two of this year’s panelists were previous winners: Karen Moustafellos, president and co-founder of Elements and Alloys (EnA), the 2006 winner, and Brian Linton, founder of Sand Shack, who won last year.
Each year the Women’s Entrepreneurship Conference honors influential female alumni who make a significant impact in the Philadelphia community and business world through creativity, entrepreneurship and leadership. This year’s inductees into the Women’s Entrepreneurship Hall of Fame were: Wanda D. Paul, senior vice president of the Philadelphia Convention and Visitors Bureau and Sarah M. Hetznecker, director of project development for Conergy Americas –both Temple alumni. “Every year we have the same criteria, we’re always looking for women who make a difference,” explained Dr. Barber.
When asked about her expectations for the conference Dr. Barber said, “I just hope women will walk out inspired, and they will walk out thinking anything is possible. Follow your heart, follow your dream.”
The Fox School’s bachelor of business administration major in management information systems (BBA in MIS) was named a top 10 U.S. program for information technology(IT) by TechRepublic.com in November 2008.
TechRepublic selected the Fox School’s BBA in MIS after evaluating more than a hundred undergraduate business-oriented IT programs across the nation. They based their selection on curriculum, placement, available resources, value, and overall strength of each program and also by interviewing alumni and corporate stakeholders.
Joining the Fox BBA in MIS in the top 10 list are Carnegie Mellon, MIT, University of Arizona, University of Maryland, and other internationally renowned universities. The Fox BBA in MIS was only the program selected from the Philadelphia region.
M. Moshe Porat, Dean, Fox School of Business, commented “I am very pleased with the success of the MIS department, they have done all the right things, by paying attention to student needs, hiring great faculty, innovating on research and curriculum, and great alumni relations.”
According to Dr. Munir Mandviwalla, associate professor, and founding chair of the MIS department, “this is a great honor, given that we started the department only eight years ago and now we are already in the company of such well established programs, and because TechRepublic followed such a systematic process in their evaluation.” The MIS department was also recognized in 2007 by The Chronicle of Higher Education, which ranked its faculty in the top 10 for research. According to Mandviwalla, the program’s success is based on “our hard working students, faculty who work on innovative and relevant research and our Institute for Business and Information Technology (IBIT) which connects us with industry and provides a real world anchor.”
In their analysis, TechRepublic also highlighted the department’s strong relationship with industry as well as the support provided by faculty and the student led Association of Management Information Systems (AMIS).
The Fox School’s MIS department offers undergraduate, graduate, and doctoral programs in information systems and includes 500 majors and minors and 13 faculty members.
The associated Institute for Business and Information Technology (IBIT) connects students and faculty with industry leaders through a membership structure, and provides project and professional development opportunities.
View TechRepublic’s Top 10 U.S. college programs for IT report.
About the Fox School of Business
Established in 1918, Temple University’s Fox School of Business is the largest, most comprehensive business school in the greater Philadelphia region and among the largest in the world, with more than 6,000 students, 145 faculty, and 51,000 alumni. The Fox School’s programs are among the best in the world and are highly ranked by theFinancial Times, The Economist, U.S. News and World Report, Entrepreneur magazine, The Princeton Review, andComputerworld.
TechRepublic serves as the Web’s largest community of IT leaders. The site delivers a unique blend of original content by IT professionals, peer-to-peer advice, and a vast library of professional resources from the leading vendors in the IT industry. TechRepublic features blogs, community forums, vendor white papers, software downloads, Webcasts, and research. According to Nielsen, TechRepublic with its 2 million unique users, 74% of whom are IT professionals, reaches the highest concentration of IT professionals of any web site or publication. TechRepublic is part of CBS Interactive, which owns well known media channels including CBS News, ZDNet, and CNET.com.
For more information about The Fox School’s rankings, please visit www.fox.temple.edu/rankings.
Many high school students are interested in business and statistics, but when they hear the words, “Certified Public Accountant” (CPA) they might not know what the title truly means. To provide high school students with insight into the accounting profession, Temple University’s Fox School of Business Accounting Department hosted the first-everPassport to Opportunity on Oct. 27 at the Howard Gittis Student Center. Nearly 300 students from 11 Philadelphia-area high schools attended the event.
Sheri Risler, CPA, professor of accounting practice at Fox, organized the event in conjunction with the Pennsylvania Institute of Certified Accountants (PICPA) and the Relations with Schools & Colleges Committee. Risler said, “The event is a great opportunity to showcase Fox’s accounting program to students interested in the accounting degree and profession.”
Temple men’s basketball coach and Fox professor, Fran Dunphy, kick-started the event, telling students, “This is your opportunity to do great in high school and do your best. Give it everything you have and be a good person.” Dunphy related to students through basketball by describing specific challenges some of his athletes had faced and how they overcame them by working hard.
Hard work and determination were key themes addressed throughout the day’s event. Keynote speakers, Fox accounting professors, Temple seniors in the program, and representatives from the Center for Student Professional Development (CSPD) provided various tips on how to get into college or business school, detailed course requirements for accounting majors, and offered career and internship advice.
Keynote speaker Neil G. Lubarsky, CPA and Senior Vice President and CFO for Thomas Jefferson University Hospitals, described his responsibilities making all of the financial decisions for the hospital and its 700 employees. He explained that good accountants must be skilled in math, have proficiency with the latest in information technology, have good communication and organizational skills, and possess integrity.
Sheri Risler briefed students on the various accounting courses offered at Fox, the steps required to become a licensed CPA, and referenced the book, Fresh Perspectives-A student’s handbook to becoming a CPA as a tool for students to gather more information on the opportunities available to accountants. Megan Rimer, associate director for CSPD, described the resources available at CSPD. She outlined the various employment options available to accountants, including working at public, private, corporate or government firms. She noted the importance of students being prepared for college by achieving high SAT scores and good grades, and becoming involved in extracurricular activities, such as athletics or community service.
BBA students majoring in accounting spoke about how they have already secured positions after graduation, and remarked how helpful Fox’s CSPD was to them in finding internships and full-time positions. Jonathan Reiter and Joe Yurkanin expressed how important it is for students to get involved in professional associations or organizations during their college career, and highlighted the student accounting organizations within Fox.
High school juniors Sash Wynter and Tash Morgan Wynter, and senior,
Kimisha Simpson, all from Haverford High School, said it was very beneficial to hear firsthand about majoring in accounting and the skills needed to break into the industry. Each has a strong interest in business and accounting, and is a member of the Future Business Leaders of America (FBLA) association.
Because this year’s Passport to Opportunity was so successful, Fox’s accounting department hopes to make it an annual event.