This year has seen a change of the guard in our Marketing and Supply Chain Management department. Dr. Michael Smith stepped down as Department Chairperson on June 30, after several years of distinguished service. Thank you, Mike, for all you have done for us! I am privileged—and honored—to take over as the chairperson, and I am especially fortunate to have inherited a wonderful state of affairs. As the year, and our Fall semester, draw to a close, let’s behold the state of our world in Marketing and Supply Chain Management.
The past several years have been a period of tremendous growth in the Fox School, and one manifestation of that has been in our faculty hiring this past year. We are thrilled to welcome eight new, full-time faculty members in MSCM. On the research side, Dr. Xue Bai, who studies data analytics and online social networks and platforms, joins us from UConn; Dr. Marco Qin, who researches market structure and B2B marketing, joins us from the University of Minnesota; Dr. Abhishek Roy, who studies strategic decisions in supply chain management, joins us from the University of Texas at Austin, and Dr. Monica Wadhwa, who researches the drivers of consumer decision making, joins us from INSEAD. And, four of our new full-time faculty were already teaching for us as industry professionals and decided to take the plunge this year as full-time colleagues: Cheri Cutler, who has more than 25 years of experience in public relations and marketing communications; Denise Donaghue, who has worked for more than a decade in insurance marketing and corporate copywriting; Michael Hughes, who has more than 20 years of experience in instructional design and corporate training, and Sheri Lambert, who has more than 25 years of experience in high-level marketing research positions. All of these new colleagues have hit the ground running, and we’re stoked that they have come onboard in our department. In addition, I’d like to welcome Jessica Hallstrom, who joined us as our new department coordinator, and thank Nicole Stilianos, our associate director, for expanding her role in the department and taking on a great deal of administrative oversight.
What else is going on? There’s never a dull moment here, as we redesign our master’s programs in Marketing, plan for a new master’s program in Supply Chain Management, expand our BBA program in Supply Chain (almost 200 majors in SCM to join the almost 1,000 majors in Marketing!), and start up a new PhD program in Operations & Supply Chain Management. All this while we continue to recruit more top-quality research faculty, conduct our 10-year self-study report and prepare to rearrange some of our office space with the opening of our spectacular new Fox School annex, 1810 Liacouras Walk.
In addition to gushing over all of our new colleagues and activities, I want to take a moment to celebrate some highlights from this past year. In April, our AMA undergraduate chapter added to a string of recent successes by placing as a Top 5 overall student chapter at the AMA collegiate conference in New Orleans. In June, the Fox School and MSCM in particular hosted the annual INFORMS Marketing Science Conference, with over 850 attendees from all over the world. Dr. Xueming Luoserved as General Chair. This conference provided great visibility for our department as well as for Fox. In addition to that, Dr. Subodha Kumarserved as the Conference Chair for the annual Decision Sciences Institute conference, held in November in Chicago, as well as the General Chair for the annual Production and Operations Management Conference, which took place in Houston in May. These honors are symptomatic of the arrival of our department as an elite group.
But we can’t let that go to our heads. I assure you, we are committed as ever to working hard to serve our students and our community in the best way we know how: by continuing to deliver high-quality education and professional skills in our courses and programs, and by pushing the envelope in a variety of exciting research areas, including mobile analytics, consumer behavior, operations and supply chain management, and decision neuroscience. I look to 2019 for more of the same: hard work and high achievement!
Best wishes for the holiday season,
Michael F. Smith, after five years serving as the chair of the Department of Marketing and Supply Chain Management (MSCM), will step down in July. He will be replaced by Edward C. Rosenthal.
Smith, who earned his PhD from the Kelley School of Business at Indiana University, has taught at the Fox School since 1980. He has seen the MSCM Department undergo many transformations in his 38 years at Temple University. When Smith first started, there were less than 20 full-time faculty in the MSCM Department, and now there are 46 faculty members.
“Now we’re attracting faculty and PhD students from top schools around the world,” says Smith. Among the top research faculty hired while he has been chair are Xueming Luo, Subodha Kumar, Joydeep Srivastava, and Maureen Morrin. “Not only do we have the ability to hire top faculty and attract top students, but we’re able to give them the resources they need for research and teaching. The department has, overall, grown so much.”
Under Smith’s leadership, the department launched the undergraduate major in Supply Chain Management (which now has more than 160 students), an Online MBA concentration in Supply Chain Management, and, in collaboration with the Klein College of Media and Communication, a MS in Strategic Advertising and Marketing. Next year will see the launch of both MS and PhD programs in Supply Chain Management. He has also helped further link Temple, the Fox School, and the MSCM Department to the regional logistics, transportation, and supply chain industry. His time as chair has been defined by his remarkable ability to navigate these great changes.
“The curriculum is changing, the students’ needs and professional development requirements are changing, the faculty is changing—everything is in constant flux,” says Smith. “When Ed becomes chair, he’s certainly not stepping into a situation where it will be business as usual. He has the support of everyone in the department and Dean Porat, so I’m confident that he’s up for the challenge.”
Rosenthal, after earning his PhD at Northwestern University, arrived at the Fox School 32 years ago. He has taught courses in game theory, logistics and supply chain management, and production and operations management, and he received the Lindback Award for Distinguished Teaching and the Musser Award for Excellence in Teaching. He has had articles published in numerous journals, including the Journal of Public Economics and Games and Economic Behavior, and he has written two books, The Era of Choice: The Ability to Choose and Its Transformation of Contemporary Life and The Complete Idiot’s Guide to Game Theory.
Like Smith, Rosenthal has witnessed the evolution of the Fox School and the MSCM Department over the last few decades. And he is excited to take on his new role as chair of the department.
“I love the synergy of this department and I have a lot of high hopes,” he says. “In the three decades I’ve been here, Temple has become a world-class research university. The whole business school has gone through such a huge transformation and the MSCM Department is a big part of that energy. I hope to continue this growth and help us solidify our reputation as a school that does world-class work.”
One of the big goals of the department, Rosenthal says, is to revamp the curriculum to match the shifting needs of tomorrow’s employers.
“We want to get ahead of technological trends and not react to them,” says Rosenthal. “It’s a big challenge figuring out where to go next, but we’ll have a new committee take a fresh look at all our curricular offerings to determine that we have the right balance of course offerings. A lot of things in the real world move fast and academics tend to lag behind. But we refuse to do that; it’s our responsibility to prepare students for the job market in an always-changing world.”
Learn more about the Fox School’s Department of Marketing and Supply Chain Management.
This past year has been a year of growth and outstanding achievements on the part of our students and faculty in the Department of Marketing and Supply Chain Management (MSCM).
Enrollment of MSCM majors is well over 1,000 students and numbers in the Marketing, Supply Chain, and Digital Marketing minors are strong. MSCM continues to enhance our practice-focused curriculum offerings by incorporating more analytics and experiential learning activities. MSCM launched a joint Master of Science in Strategic Advertising and Marketing with Klein College of Media and Communication, as well as an Enterprising Marketing Management concentration in our MS in Marketing.
MSCM hosted a Supply Chain Management career expo in the fall and a Marketing career expo and Consumer Insights event in the spring. MSCM and Temple American Marketing Association (TU-AMA) also hosted a Regional AMA Student Conference. Temple University Supply Chain Association (TU-SCA) hosted professional organizations for events and participated in site visits. Hundreds of students participated in these initiatives, and industry professionals delivered valuable presentations about industry trends and advised students of internship and job opportunities.
I am excited to report that this past year TU-AMA was again designated “Top 5″ out of over 400 global chapters by the American Marketing Association. TU-SCA students have also been successful in national and regional conferences and competitive events. Professional Sales Organization (PSO) students competed and placed in national and regional sales competitions. Outstanding students from TU-AMA, TU-SCA, and PSO were honored at an annual banquet sponsored by the MSCM department on April 26.
New faculty joined the department, including one SCM faculty member, Tim Young, with extensive industry experience and internationally recognized thought leader Dr. Subodha Kumar. We also hired Michael Hughes for the integrative business initiative. A number of faculty in Marketing, Supply Chain Management, and Business Communications will join MSCM in the fall.
Our research faculty and centers continue to produce innovative research and host national and global conferences. The 40th Annual INFORMS ISMS Conference, chaired by Xueming Luo, will bring over 900 conference attendees to Temple University and the Fox School of Business June 13-16. The Global Center for Big Data in Mobile Analytics also co-hosted the NYU 2017 Conference on Digital, Mobile Marketing, and Social Media Analytics in December 2017. The Center for Neural Decision Making will co-host its 7th Neuro Marketing conference at University of Michigan in June 2018, and center director Angelika Dimoka also led the initiative to host the Greek America Foundation’s 2018 National Innovation Conference at Temple University May 3-5.
MSCM is very excited to continue the momentum of excellence with additional faculty and new students. We look forward to working with alumni and other stakeholders to continue to increase the value we add to our students, employers, and our community.
Chairman, Marketing and Supply Chain Management Department
The Temple American Marketing Association (TU-AMA) did it again! On April 7, at the 40th Annual American Marketing Association International Collegiate Conference (AMAICC), TU-AMA was designated a Top 5 student chapter among 429 collegiate chapters worldwide.
TU-AMA competed against 284 collegiate chapters that submitted written annual reports to be considered in the 2018 running for chapter recognition. A panel of judges evaluated chapter annual reports of activities and in the following areas:
- Professional Development (35%)
- Social Impact (15%)
- Fundraising (10%)
- Membership Development (10%)
- Communications (10%)
- Chapter Operations and Planning (20%)
Thirty of TU-AMA’s 244 members (2017-2018 school year) represented our chapter at the AMAICC in New Orleans, Louisiana, to compete in a variety of competitions, attend speaker sessions, and network with professionals. In addition to earning Top 5 chapter status, TU-AMA also received the following recognition:
- Outstanding Marketing Week
- Regional Conference Recognition
- Top 15 – Mary Kay Case Competition
- 4th Place – Website Competition
- Semifinalist in Perfect Pitch Competition—freshman BBA student John Ourand
Each year, students attending the conference significantly benefit from the opportunity to network and excel. Students say:
“There are not enough words to describe how much AMA has impacted my life over the course of my college career. I am so thankful for this organization and the person it shaped me into, the people I have met, and opportunities that I have had.” – Alexa Gerenza, BBA Marketing senior
“My first year at the AMAICC was a great experience, and I look forward to going again in the future. The opportunities to network and learn more about the ways to build a career in marketing was valuable.” – Harry Gaffney, BBA Marketing sophomore
“[AMAICC] was a truly amazing experience. There were so many great speakers and networking opportunities that made it a time that I will never forget.” – Danny Glackin, BBA Marketing junior
MSCM congratulates TU-AMA students on their amazing achievements!
Learn more about the Fox School’s Department of Marketing and Supply Chain Management.
The Department of Marketing and Supply Chain Management faculty continue to be active, innovative, and impactful in the research community.
Anthony Di Benedetto published papers in Industrial Marketing Management, Journal of Global Scholars of Marketing Science, and European Journal of Innovation Management.
Angelika Dimoka published a paper in Journal of Business Research. Dimoka is the director of the Neural Decision Making Center. She also has grants from Office of Inspector General—USPS and National Science Foundation—Directorate for Social, Behavioral & Economic Sciences.
Nathan Fong published papers in Marketing Science, Journal of Interactive Marketing, and Management Science.
Subohda Kumar published papers in Production and Operations Management, Information Systems Research, and Information Systems and Operational Research. Kumar received a Best Paper Nomination at the INFORMS Conference on Information Systems and Technology, and another for INFORMS eBusiness Best Paper Award.
Xueming Luo published papers in Marketing Science, Journal of Marketing, Journal of Interactive Marketing, Journal of Consumer Psychology, and Personality and Individual Differences. Luo is the director of the Global Center for Big Data and Mobile Analytics and is serving as the Conference Chair of the 40th Annual INFORMS ISMS Marketing Science Conference. The American Marketing Association ranked Luo as 15th among all authors in the world for the 2008-2017 period in the top two premier American Marketing Association Journals and 21st among all authors in the world for the top four premier marketing discipline journals.
Maureen Morrin published a paper in Journal of Retailing and is publishing a book chapter in Brand Touch Points. She is the Director of the Consumer Sensory Innovation Lab. Morrin received a grant from the Center for Sensory Sciences and Innovation at Rutgers University. Morrin was selected as a Doctoral Consortium Faculty Research Fellow for the Association of Consumer Research conference and received an Outstanding Reviewer Award from the Journal of Public Policy and Marketing.
Susan Mudambi published a book chapter in B-to-B Marketnfuhrang: Grundlagen, Konzepte und Best Practices [B-to-B Brand Management: Fundamentals, Concepts, and Best Practices].
Crystal Reeck published a paper in Proceedings of the National Academy of Sciences of the United States of America and has a book chapter accepted in Handbook of Process Tracing Methods in Decision Making. Reeck has grants from Temple Brain Research Initiative, Scientific Research Network on Decision Neuroscience and Aging, National Science Foundation—Directorate for Social, Behavioral & Economic Sciences, and Environmental Defense Fund.
Ed Rosenthal published a paper in Omega (United Kingdom).
Joydeep Srivastava published a paper in Journal of Experimental Psychology.
Vinod Venkatraman published papers in Developmental Review and Journal of Behavioral Decision Making. Venkatraman also has a book chapter accepted in Handbook of Process Tracing Methods in Decision Making. He has grants from Office of Inspector General—USPS, Temple University Office of the Vice President for Research, and Temple Center for International Business Education and Research.
Howard Weiss published a paper in Omega (United Kingdom).
Learn more about the Fox School’s Department of Marketing and Supply Chain Management.
This fall, the Fox School of Business implemented the Fox Leadership Development Program (FLDP) for undergraduate students. This program was designed to strengthen student skill sets and encourage co-curricular engagement in the spirit of the mission and vision of the school.
Students earn points for activities, event attendance, and accomplishments at varying levels in FLDP. The program focuses on the competency areas of Community Engagement, Financial Literacy, Global Awareness, and Personal/Professional Development. Students track their progress and share their accolades with peers, advisors, and employers using Suitable, an impact measurement tool for academic institutions.
In addition to the FLDP achievements created by the Fox School, MSCM offers opportunities for students to earn career-focused credentials to enhance their resumes and LinkedIn profile:
- Consumer Insights – Expands Marketing student skills in the field of marketing research by developing technical skills and the ability to analyze, understand, and predict consumer behavior using analytical tools, models, and databases
- Sales Force Effectiveness – Marketing and Business majors learn how to become influential entrepreneurs or managers, developing skills in client service, negotiation, self-management, communication, and problem solving
- Supply Chain Management – Marketing and Business majors develop communication, negotiation, and leadership skills; and learn how to optimize business processes to meet the demand for supply chain professionals
Career-focused experiences allow undergraduate students to specialize in lieu of declaring majors and concentrations. For the career-focused badges, students complete two required courses, choose from a menu of optional courses, and submit reflections of their experience to the department.
MSCM also offered “Quant Camp” in fall 2017, led by assistant professor of practice, Christopher Monos. This 10-session workshop focused on enhancing technical abilities of students by training them to use SPSS statistical software and Excel to analyze survey data.
“These kind of badges are exactly what we had in mind when we created FLDP and partnered with Suitable,” says Charles Allen, assistant dean of undergraduate programs at the Fox School. “The ability to supplement classroom learning, and have students improve skills they need to become an asset in any organization, is the real value proposition behind our program.”
FLDP allows students to demonstrate to prospective employers that they have intentionally guided their own professional development to align with their career path, and as such, develop the knowledge and skills needed to succeed in their future career.
MSCM will continue to develop FLDP badges and offer events and activities that help our students succeed.
Learn more about the Fox School’s Department of Marketing and Supply Chain Management.
Angelika Dimoka’s job is to get inside your head.
As the director of the Center for Neural Decision Making at the Fox School of Business, Dimoka finds how you make the choices you do—and she does not need to ask you.
Instead, she looks to the human body for answers.
A trained biomedical engineer and neuroscientist, Dimoka came to the Fox School in 2008 to study how people make decisions. From air traffic controllers to victims of traumatic brain injuries to average consumers, Dimoka and her colleagues investigate—and predict—our everyday choices.
Getting inside your head
In 2008, Dimoka established the Center for Neural Decision Making, the first neuroscience center located within a business school, and currently the largest such center in the country.
“[The Center’s goal] is to provide a more objective understanding of the driving forces of a subject’s decision making,” says Dimoka, who is also an associate professor in the Department of Marketing. In the past, researchers have had to rely on self-reported data, asking consumers why they choose this product or made that decision. This, however, left room for error, as perhaps the consumer could not—or would not—divulge the true reason for their decision.
Today, with state-of-the-art tools like eye tracking machines, heart rate monitors, and MRI scanners, the Center’s research eliminates the subjective bias of decision-making research. “We don’t have to ask the subject anymore,” says Dimoka. “We can observe their physiological state.”
Dimoka and her colleagues, Vinod Venkatraman and Crystal Reeck, assistant professors of marketing, use these tools to study the body’s responses in experiments like the ability to recall print ads versus digital ads.
“With eye trackers, we can observe where the subject is looking at any given point,” says Dimoka, allowing the researcher to understand exactly what information the subject is taking in at what time. Heart rate monitors, skin conductors, and breathing monitors analyze the person’s emotional state—whether you sweat more, breath heavier, or have a faster heartbeat when making a decision.
What the brain reveals
The Center also has a new functional magnetic resonance imaging (fMRI) machine, brought to campus this fall in partnership with the College of Liberal Art’s Department of Psychology and with support from the National Science Foundation. “The fMRI scanners show us the brain’s functionality,” Dimoka says. “We can put people in the scanner and observe how their brains function when they make decisions.”
The areas of the brain that activate during different activities can reveal how consumers take in information and make decisions. Consider what happens when a person looks at a physical advertisement versus a digital advertisement. In a series of experiments funded by the Office of the Inspector General at the U.S. Postal Service, Dimoka and her colleagues studied subjects’ brains as they reviewed ads in both print and online formats.
“The area of the brain associated with memory, the hippocampus, showed higher levels of activation for ads that subjects had seen before in a physical format,” says Dimoka, “as opposed to digital ads.” By using the brain scanning tools, the researchers found that print is still sticky, even in today’s digital age.
The third phase of the experiments are currently underway. Dimoka says this new round will further investigate generational differences and brand awareness.
Are there any differences between the purchasing decisions of Millennials and Baby Boomers when looking at online versus print ads? “We did find some preliminary results [from earlier experiments] that were quite interesting,” Dimoka says, “and the opposite of what you would expect.” The full results will be published later this summer.
The Center investigates all kinds of decision making—including consumer, financial, and privacy decisions—that can have real impact on average people and companies. The impact of their work extends from marketing to fields like management information systems and finance.
For example, Crystal Reeck, assistant professor of marketing, found that how you review your choices during the decision making process can impact your ability to be patient. She is currently working on a study that involves how people disclose private information.
Companies are also affected by the Center’s work. “By looking at the brain of how 30 subjects were responding,” says Dimoka, “we can predict how millions of consumers in the United States would decide.”
“That’s the magic, the power of these tools.”
Learn more about Fox School Research.
There has been a backlash against globalization and multinational corporations lately, but as new markets emerge, people, knowledge, capital, raw materials, finished products, services, and culture will increasingly flow across national boundaries. This flow is the essence of international business, and its success hinges on understanding the new configurations that will emerge. It is essential that we prepare for the new world order.
Why is it important to study the flow of international business? First, comprehending the nuts and bolts of how business is conducted across borders expands knowledge and skill sets. Second, knowing other languages and having overseas experience shows employers that students have an open global mindset. It differentiates them from others competing for a job. The Fox School of Business specializes in teaching the international business flow and in giving students that employment edge. For this reason and more, the Fox International Business (IB) program attracts top students from the Philadelphia region and beyond.
Students also choose the Fox School as a result of its world-leading faculty, beginning with Arvind Phatak, who studied globalization and multinationals in the 1960’s long before these words became popular. Today, Professors Mike Kotabe, Ram Mudambi, and Charles Dhanaraj are driving the Fox School’s IB program to the top. The popular press regularly cites the research output of these three scholars, and the Academy of International Business has elected them Fellows of the Academy—the highest honor that the academy can bestow.
The Fox School’s IB program is committed to providing outstanding internship and career placement help for graduates. The Fox Center for Student Professional Development (CSPD) has close contacts with many international companies and international organizations in the city, region, and beyond. IB student recruiters include GSK, Bank of America, Vanguard, Lockheed Martin, BDP International, BNP Paribas, Alibaba Group, LinkedIn Corporation, Amazon, and various U.S. and foreign government agencies and nonprofit organizations. Salaries reported by IB students cover a wide range based on specific elements (e.g., industry, cost of living, etc.) and have sometimes exceeded $100,000. On average and according to the Economy League of Greater Philadelphia’s export plan, IB jobs and export-related jobs pay 20% more.
A Brief History of IB Education at Fox
Professor Hart Walters offered the first course in International Business at the undergraduate level in 1971, and in 1984 IB became an undergraduate major. The Fox School continues to be a pioneer in developing a state-of-the-art curriculum. For example, it is a founding member of the Consortium for Undergraduate Business Education (CUIBE), a group of nationally recognized IB programs that aims to improve the way IB is taught to undergraduates.
Opportunities to Study IB at Fox
Some scholars see globalization as a continuum: companies start local, and then expand nationally, go on to become continental or regional, and then finally global; all strategy therefore has to be global in scope. Because of this, students are advised to specialize in one functional area and add IB as a second major. Fox students can also minor in IB or get specialized area certificates.
Undergraduates usually take six courses comprised of a core and a menu of electives towards the IB major. Through these courses, students learn both the analytical aspects of IB, such as accounting, economics, finance, insurance and risk, and the behavioral side of IB, such as human resources, legal, marketing, supply chains, offshoring, and strategic management. IB students are also encouraged to join the IB Student Professional Organization (SPO), the fastest growing on campus. The IB SPO hosts practitioners who share their experiences with the students. IB students also work with Temple’s Small Business Administration and the World Trade Center of Greater Philadelphia, advising local clients who would like to take their products or services abroad. IB students get hands on experience by helping these clients enter emerging markets or help foreign clients enter the U.S. market.
At the master’s level, the IB the concentration has remained a popular choice among students. The Fox School offers an Executive MBA in many major countries in South America, Europe, Africa, and Asia.
Temple University and the Fox School have campuses in Rome and Japan. The university has also had a presence in China through the Fox School and Temple’s Beasley School of Law. Additionally, the Fox School has agreements with many foreign schools where students can spend a semester or year. Undergraduate and graduate students have studied at many of these locations and immersed themselves in the cultures of these places.
Through the Fox PhD program, multiple students have earned a doctorate with an international business concentration. The Fox School’s IB doctoral students have won dissertation awards at the Academy of International Business Annual Meetings. Today these alums are major knowledge creators and occupy prestigious positions in major universities.
The IB Program has also been the beneficiary of a Centers for International Business Education and Research (CIBER) grant from the U.S. Department of Education for more than 15 years. This grant provides funding of more than $1 million every four years to selected research institutions that are on the cutting edge of finding ways to improve U.S. competitiveness and trade. Specifically, the grant requires grantee institutions to become regional and national centers for the research and teaching of critical languages, politics, economic geography, culture, laws, and trade practices vital to enhance U.S. trade. Only 17 universities currently hold this grant.
Contact Us: The Fox IB Program is strong in terms of teaching expertise, research impact, rankings, job placements, and in total provides great value for money. To learn more about the program, contact Dr. Bertrand Guillotin via email at Bertrand.Guillotin@temple.edu.
The Philadelphia Eagles are headed to the Super Bowl for the third time in franchise history.
Experts from Temple University’s Fox School of Business and School of Sport, Tourism and Hospitality Management (STHM) are available to discuss the following subjects relating to the Super Bowl: advertisements; city pride and team branding; consumer behavior; economic impact; event production; risk management; social media; sport betting; ticket markets and availability; and tourism impact.
For interview requests, email Christopher A. Vito at firstname.lastname@example.org.
Dr. Paul A. Pavlou, Senior Associate Dean of Research, Doctoral Programs and Strategic Initiatives, Fox School of Business
Dr. Angelika Dimoka, Associate Professor of Marketing and Management Information Systems, Fox School of Business
Available to discuss: Neuromarketing research using fMRI brain scans to identify the anatomy of the brain that significantly better predicts the success of TV advertising.
Dr. Subodha Kumar, Paul R. Anderson Professor of Marketing and Supply Chain Management, Fox School of Business
Available to discuss: The effectiveness of Super Bowl advertising, as well as social media analytics and web analytics as they pertain to the Super Bowl
CITY PRIDE/TEAM BRAND
Dr. Thilo Kunkel, Assistant Professor of Sport and Recreation Management, STHM
Available to discuss: The Eagles’ Super Bowl appearance and its spill-over effect on the civic and community pride, and team branding
Dr. Joseph Mahan, Associate Professor and Chair of Sport and Recreation Management, STHM
Available to discuss: Sport-related consumer behavior, like the extent to which the Super Bowl will inspire merchandise and ticket purchases, TV viewership, etc.
Dr. Jeremy S. Jordan, Associate Dean, STHM
Dr. Daniel C. Funk, Professor and Washburn Research Fellow, STHM
Available to discuss: The economic impact of major sporting events
Ira Rosen, Assistant Professor of Tourism and Hospitality Management, STHM
Available to discuss: Event production, entertainment booking, client account management, and service consulting
Michael McCloskey, Assistant Professor of Risk, Insurance, and Healthcare Management, Fox School of Business
Available to discuss: Riot and civil authority risk management and security around large-scale events
M. Michael Zuckerman, Associate Professor of Risk, Insurance, and Healthcare Management, Fox School of Business
Available to discuss: Risk management around large-scale events, including terrorism readiness
Amy Lavin, Assistant Professor of Management Information Systems, Fox School of Business
Available to discuss: Social media’s role in coverage of the Super Bowl and other large-scale events
Dr. George Diemer, Assistant Professor of Sport and Recreation Management, STHM
Available to discuss: Sport economics, including odds and probabilities and sport betting
Dr. Joris Drayer, Associate Professor of Sport and Recreation Management, STHM
Available to discuss: Supply and demand of Super Bowl tickets and secondary ticket markets that include StubHub, Seat Geek and others
Dr. Robert Li, Professor of Tourism and Hospitality Management, STHM
Available to discuss: Destination marketing, and the mechanisms through which a location (like a Super Bowl host) can market itself to support tourism and travel
Eleven alumni leaders share insights on how technology is shaking up today’s major industries and constantly reshaping business possibility.
You can’t open a magazine, a newspaper, or Twitter now without encountering a story about the rise of artificial intelligence and how this will impact businesses and economies around the world. Will the robots displace workers, leaving behind a massive trail of catastrophic unemployment? Or will the relationship be more harmonious as robots optimize productivity and maximize efficiency boosting both the bottom line and free time for us humans? Nobody knows. But one thing is for certain: Technology has brought and will continue to bring radical changes and thrilling opportunities for business innovation industry-wide. To get a firmer grasp on how some of the major industries and fields of business are positioning themselves for the future, we asked 11 Fox School of Business alumni leaders—representing a variety of industries from finance and professional sports, to transportation and healthcare—to examine what’s on the horizon and to share their insights.
James Poyser, BBA ’92
Grammy Award-winning musician, The Roots
“Advances in technology have totally changed how music is made, performed, taught, marketed, and sold. Hit records are not only made in studios anymore, but in bedrooms, basements, and even on smartphones. Traditional instruments are being replaced with digital ones (check out a Stro Elliot video on YouTube). Artists are foregoing the traditional route of signing to record labels, and putting their music out online or finding other ways to collect payment. And more changes are coming, too. The rules keep changing and evolving. What new advances are in the future? I know they’re coming. How will we create music in the future? How will we listen to music in the future? How will we purchase music? Actually, will music even be purchased anymore? (This is when it gets scary: Do I matter anymore? Is there any value left in music?) Whatever changes take place, I believe those that adapt to the changes, keep their heads on a swivel, or have the mindset to change, will be positively affected.”
Eric Salfi, BBA ’91
CPA, Partner, Cwienkala & Salfi
“Many CPAs didn’t know how to deal with QuickBooks when it was first released and it put them out of business—the advances in technology and the way accounting is done now has changed even more dramatically since. We’re moving toward strictly cloud-based activities where there’s more interaction and my clients send documents and information through a portal. The accountant’s role has evolved, too. It used to be about bookkeeping—handling bank statements, creating financial reports, and so on. QuickBooks, and now cloud software, eliminated all the people sitting in a room somewhere compiling this information, but it still requires an expert to manage the software. The accountant has evolved and, for me, it’s more of a business consultant role now. Clients don’t just need me to prepare a tax return; I now have deeper relationships with my clients and I act as a personal advisor, helping them value new businesses or solve cash flow problems. One of the big issues, as information’s moved to the cloud, is cybersecurity. There’s more data accessible now, so creating a safe, encrypted portal that allows clients to interact with us is essential. You need to adjust and adapt with technology or you’ll be left behind. I look forward to embracing whatever changes come next.”
Adam Lyons, BBA ’09
Founder & Chairman, The Zebra
“Technology has changed and is changing insurance, though no one would hesitate to admit the industry was painfully slow to welcome the insurtech revolution. At the Zebra, we’re a technology company in the insurance space, and we believe the right technology, applied by people who truly understand the profound complexities of the insurance industry, can create efficiencies which simplify everything from assessing risk to distribution to claims management and beyond. We’ve seen incredible developments in the property and casualty insurance industry, like peer-to-peer insurance and pay-per-mile models, and we’re creating an insurance search engine where consumers can access, understand, and use all of these innovations. We’re creating essential technology which informs and educates consumers so they can understand their options and make the right decisions for their unique needs. Environmental factors are critical as well, but they’re unpredictable. Still, we’ve seen trends showing an increase in devastating storms, most recently Hurricanes Harvey and Irma, for example, which just reaffirms the need for people to have the resources to find the right coverage for their circumstances to protect themselves.”
Bob Rosenthal, BBA ’85
Partner, Envision Land Use
“Real estate, like everything, is in the middle of the internet revolution. Philadelphia was dead 20 years ago, back when I went to Temple. There was a void between City Hall and the suburbs—then the millennials came. The parts that have grown, like Fishtown, used to be manufacturing areas, and the buildings have now been repurposed. Everyone talks about the retail change and how people now buy online, but the same has happened in everything from healthcare to office space. What once was a retail center is no longer a retail center; this battle’s been going on for years in the city and is now hitting the suburbs. I’m 57 and right now I’m working from my car on an iPhone. People don’t need office space the way they did—with a lobby, a huge campus, and a front desk—especially younger people without ties to old ways of doing business. And when the millennials come back to the suburbs—which they’re already starting to do—they want lifestyle options just as they do in the city. They want to be able to easily Uber or walk to a bar or a restaurant. So even in new developments in the suburbs, we’re aiming to make these changes. With more businesses moving online and changing needs, land uses change so quickly that governing authorities can’t keep up and many aren’t willing to change. People are always frightened of change, but we must keep moving forward and adapting.”
Heather Qader, MBA ’16
Manager of Business Development, City of Philadelphia Department of Commerce
“Technology is slowly changing local government for the better. Philadelphia, like other cities, is realizing that to compete at a global and national scale, it must adapt its infrastructure. These adaptations look like the digitization of SEPTA’s ticketing system, installation of Indego Bike Share citywide, parking kiosks that allow the use of cards instead of change, and an overhaul of the City of Philadelphia website to create a more user-friendly interface and allowing for more public engagement and user ease. With every new administration, personnel changes occur and there is a transitional period required to get new personnel up to speed. One initiative that has survived the Michael Nutter administration and is currently embraced by the Jim Kenney administration is StartupPHL, a platform that funds worthy initiatives and connects startups to resources in the Philadelphia tech ecosystem. The most recent StartupPHL call for ideas round funded five organizations with $100,000 to train instructors, supply equipment, and teach children the technology skills that they need to be globally competitive. We are keeping up—not as fast as many of the lean startups here in Philadelphia—but progress is being made.”
Salvatore DeTrane, BBA ’93
Managing Director, Empactful Capital LLC
“Most innovation in healthcare technologies in recent decades has been in medical devices, drug therapies, and medical diagnostics. These have led to people living longer, more productive lives. The downside is these advancements have resulted in a financially unsustainable cost trend. The next frontier is entrepreneurs disrupting healthcare with innovative information technology solutions. There have been massive investments in the last 15 years in electronic health records, claims systems, genomics, social determinant data, and big data software. Some of the innovation opportunities include practical applications of machine learning, natural language processing, intelligent workflow advancements, and advanced analytics that offer actionable insights. Proactive interventions will enable healthcare providers and payers to better manage care, reduce healthcare costs, improve quality, and assess risk of managing populations and encourage business model evolution. With the expected increase of today’s industry expenditures in the U.S. from $3.5 to $5.5 trillion by 2025, this transformation will prevent a financial crisis. All payers—whether health plans, employers, or consumers—are demanding more efficient and effective healthcare and transparency. The industry now stands at a pivotal moment. It must transform into a system that leverages these data/IT investments to support better, more informed decisions by each major constituent. And I think Temple, given Fox’s programs and its health system and medical school, is positioned to support the innovation required to transform our healthcare system.”
Joe Heller, BS ’05
Vice President of Marketing, Philadelphia Flyers
“Broadcast coverage of live sports events continues to evolve and advance at a rapid rate. Viewers are getting more access to their favorite teams and players through virtual and augmented reality, cable cams, and GoPro cameras. In the future, I wouldn’t be surprised to see dedicated channels allowing viewers to experience the duration of a live game straight from a players helmet through a virtual reality headset. This could be similar to the way motorsports has cameras mounted on cars, or the NHL on referees and players at the All-Star Game. Stadiums and arenas will be continually challenged on new ways to adopt VR/AR into their venues, improve WiFi, provide charging stations in the seats, show live video helmet feeds on the big screens, and alike, to bring the comforts and expectations of home viewing to the game. From an NHL team perspective, the Flyers recognize we’re becoming our own media company by placing a greater emphasis on content about the team, connecting players and fans through mobile platforms, providing behind the scenes access, and much more. As tech advancements are made, pro sports will continue to look for new ways to be early adopters and integrate them into event coverage, for home viewers and in arenas and stadiums.”
Marco Herbas, MBA ’15
Whole Securitization Funding, Ford Motor Company
“Self-driving cars are an inevitable reality that will disrupt and transform the industry for its incumbents as it opens new doors for non-traditional, automotive value-chain players able to purvey hardware and software that enable interconnected and autonomous vehicles (AVs). AVs, along with mobility and continuous development of electrified powertrains, are creating a paradigm shift in the lengthy, bureaucratic processes engrained in traditional automakers’ decision-making, essentially forcing them to become more agile in their product and systems development lifecycles to emulate these potential tech entrants. The notion of AVs is not only disrupting the auto industry, but the transportation ecosystem as a whole. Some examples may include public transportation, where cities may have to partner with automobile purveyors to deploy fleets of self-driving vehicles, as well as insurance providers where AVs create a safer commuter environment, meanwhile curtailing risk and impacting insurers’ revenue streams. Ford has communicated it intends to pursue automotive and high-growth mobility businesses. In 2016, senior leadership announced the company would commence mass production of level-4 autonomous vehicles by 2021 available for ride-sharing/ride-hailing services. Key underpinnings include the launch of the next generation Fusion Hybrid Autonomous Development Vehicle, the creation of its mobility division, as well as its acquisition of Chariot, an app-based, on-demand shuttle service. And Ford is investing $1 billion in start-up Argo AI to further its advancement in AV development by leveraging the startup’s robotics technology.”
Andrew Bertolazzi, EMBA ’97
Vice President, Ronin Security Solutions LLC
“Seaborne shipping accounts for approximately two-thirds of global trade, with over $4 trillion worth of goods transported annually. One of the major challenges the industry faces—increased global competitiveness, new regulations, reliance on automation, etc.—is security. This includes compliance with layers of domestic and global requirements, physical security, and protection of the supply chain. But the most insidious risk with the potentially greatest impact is cybersecurity. The industry, both afloat and on land, is increasing the level of automation across the value chain to improve efficiencies, reduce cycle times, enhance safety, and drive down cost. The greater use of technology leads to the need for increased knowledge and specialized tools, as well as the risk of breaches and compromises. A recent example of cybercrime’s impact on global shipping is the Petya ransomware attack, whose disruptions cost over $300M to one of the world’s major shipping companies. The federal government and industry associations are working to raise awareness and offer assistance to organizations across the supply chain through focused outreach, education, and grants. And the private sector is improving cybersecurity through assessments, training, and adding specialized security tools, processes, people, and consulting support. Each organization must evaluate the amount of resources of time, people, and funding needed to appropriately address the threats. The level to which they’re able to do so will determine the impacts and stimulate innovations in technology, business processes, and approaches to security.”
Ron Iller, BBA ’93, MBA ’95
Director at Large, Fox Alumni Association
Director, Product Management-Analytics and Data Discovery, Change Healthcare
“The move to value-based care and risk-based contracting within the healthcare market has changed the game. It’s about providers and payers applying data and analytics to effectively provide better care at the lowest cost. Overall, it will be a very positive change in terms of working to improve outcomes. The focus will be on the individual and patient populations, and how their level of health impacts the cost of the system. Organizations will focus more on keeping people healthy as opposed to getting them healthy by utilizing care management programs and other forms of outreach. Change Healthcare will inspire a better healthcare system and deliver wide-range financial, operational, and clinical solutions to payers, providers, and consumers. I’m focused on helping hospitals and health systems move from fee-for-service to a value- or risk-based payment model. This involves taking a broader view of the patient or population, either in terms of payment, health status, or access to care, not only within the walls of the hospital, but extending to the broader community. We do this by providing a data platform for health systems to acquire and aggregate massive amounts of data at scale and then applying analytics in the transition to value-based care. The data we gather and what we can do with it will continue to improve with new technology, and ultimately allow us to improve the quality of care we provide even more.”
James Sanders, EMBA ’12
President-elect, Fox Alumni Association
Vice President, Commercial Lending, Customers Bank
“Fintech is providing access to capital, especially to small businesses, at a right-now rate. People are getting loans on mobile devices and it happens quick. Mobile and cloud technology, whether people use it to bid on contracts or communicate with employees, is helping small businesses evolve faster. It used to be more difficult to start a small business; now there are infinite online resources people can tap into. You can watch a YouTube video that will tell you how to do it (but, keep in mind, that won’t help you when it comes to actually executing a successful business). Small business owners are getting younger, too. There’s a lot of buzz around millennials and how they have a fresh way of thinking and handling business. With platforms like Etsy, eBay, Amazon, and Instagram, there are many ways to make money. My son started a tech company; he designed the app and everything. I’m very optimistic about the future of small and medium sized businesses—they’re the backbone of America. Their names aren’t plastered on the highways when you’re driving downtown and you may not see them on TV or the internet. But they’re everywhere and they’re creating and driving new industries and opportunities.”
Vast amounts of data are generated every day – about 2.5 quintillion bytes according to estimates from IBM.1 This “big data” originates from numerous sources: from individual social media posts and text messages, to corporate supply chain management activities and financial transactions. Businesses are gaining valuable insights through the analysis of all the data they can gather.
According to a CGMA survey of more than 2,000 finance professionals around the world, 87 percent of respondents said that data analytics will transform the way business is done in the next 10 years.2 The same survey, however, found that only 48 percent believe that they have the skills within their organizations to take advantage of the opportunities that data presents. This article focuses on how CPAs can leverage the power of data analytics coupled with data visualization to improve decision-making.
A major factor in gaining a competitive advantage in today’s globalized business environment is the quality of a firm’s decision-making.3 Imagine the strategic decisions that a CFO could make with the ability to predict the optimal price to charge a customer on a particular day. Suppose controllers could accurately predict the collectability of a receivable based on a customer’s credit score. Or think about the level of assurance that an auditor could obtain by analyzing entire data sets rather than samples. All of the aforementioned scenarios are possible today thanks to data analytics and visualization software, and you do not need to be trained as a data scientist or information technology (IT) professional to leverage these tools.
Data analytics is the process of examining big data for the purpose of gaining insight. There are four key characteristics of big data, often described as the four Vs: volume, variety, velocity, and veracity. Volume is the number of records in the data set. Variety refers to the types of data, and the data set must contain more than one file type to be considered big data. Velocity describes the speed with which the data is generated. Notably, a key characteristic of big data is that it constantly grows – often at a rapid pace. Veracity refers to the certainty of the data. Large amounts of data may not be useful for decision-making unless the data is clean and accurate.
In recent years, data analytics has gained immensely in popularity. Advances in technology, the decreasing cost of data storage, and innovation in the marketplace has earned the practice wide recognition from businesses. Data analytics provides managers with greater insight into business operations, creating a positive reinforcing cycle. As more meaningful insights are obtained, businesses start tracking and capturing new and additional data points to analyze. The results are more robust data sets and insight, leading to additional questions and theories, requiring more information to be captured and analyzed to answer them.
Data analytics can be applied in many disciplines, such as marketing, monitoring business transactions, or even identifying potential fraud and corruption. It opens new windows of opportunity for generating business intelligence and helping businesses run more efficiently and effectively. There is a wide variety of data analytics software tailor-made for specific industries, including health care analytics to identify waste and reduce costs at hospitals, energy analytics to predict surges in electricity usage to ensure adequate supply, and weather analytics to anticipate environmental conditions to help farmers improve crop yields.
By using data analytics, businesses can considerably reduce the time, effort, costs, and, most importantly, likelihood of errors associated with manual review. In addition, data analytics can be executed in real time on an entire population instead of relying on a sample, providing valuable insights to help businesses detect nefarious activity. For example, companies like Visa can review every single credit card transaction in real time and use rule-based monitoring systems to flag suspicious transactions. Banks can leverage real-time transaction monitoring systems to identify potential money laundering and terrorist financing.
Data analytics not only streamlines operations, it is also more useful and efficient for detecting fraud compared with traditional, manual methods. Instead of spending time performing detailed transactional testing, data analytics allows auditors to focus on performing higher-level risk analysis. Moreover, data analytics allows auditors to review the entire universe of transactions and attain greater confidence about whether or not material misstatements exist in the financial statements.
Data analytics can give auditors access to real-time information, allowing them to proactively get in front of issues and quickly devise remediation strategies. For example, during an internal audit, running data analytics on disbursements, sales activity, product returns, and expense report data can tease out information and suspicious patterns that are indicative of potentially fraudulent activities and behavior. Trend analysis of payment data can help CPAs immediately identify peaks and valleys indicating abnormal payments and any other anomalies in the data that warrant additional investigation.
One of the most critical characteristics of data analytics are traceability and repeatability. It provides a documented step-by-step audit trail of executed analyses to demonstrate how the conclusion was formulated. This can be a valuable benefit for independent parties, such as regulators, in reviewing the work of auditors. If necessary, an independent party can repeat the analyses and reproduce the same results.
For CPAs providing consulting services, data analytics can be used as a targeted exercise to run high-impact analyses to identify areas with the highest risk. This enables project teams to narrow the investigative focus and significantly save time. This is referred to as a top-down approach, where data analytics is applied to the universe of data to cull it down to a targeted population. Data analytics can also offer a holistic analysis, or viewing a problem in a broader context, when information is linked and consolidated from disparate systems and data sources. Through data aggregation and analysis techniques, information is no longer isolated, allowing data relationships and correlations to become more easily identifiable.
Insights from data analysis are not always easy to glean, and can be equally difficult to share. But the analysis can be enhanced with visualization. “A picture is worth a thousand words” is a common expression that underscores the important connection between visual imagery and cognition. Humans can make sense of an image much quicker, and often more effectively, than text. In fact, the brain is capable of processing visual images in as little as 13 milliseconds.4 Another study found that presentations using visual aids are 43 percent more persuasive than unaided.5 Data visualization is simply the representation of data in the form of a picture or graph.
For decades, CPAs have created visual representations in the form of bar charts and pie graphs to communicate financial results. Today, a rapidly growing field of data visualization takes advantage of the intersection of visual imagery, big data, and advances in technology. CPAs should leverage data visualization given their important role in communicating and using data for decision-making.
Data visualization facilitates communication and understanding of complex relationships, and it can help managers identify patterns. Making sense of large, complex data sets for decision-making is one of the challenges facing business managers today.6 CPAs who can effectively communicate insights gained through data by using visualization tools stand poised to gain a competitive advantage.
Sophisticated and inexpensive software has made data visualization accessible to just about anyone with a computer and an Internet connection. But Scott Berinato, in the Harvard Business Review, warns users to avoid the temptation to simply “click and viz” without understanding the purpose and goals of visualization.7 Berinato suggests that users consider two questions: Is the information that you have conceptual or data-driven; and do you need to make a declaration or explore something? If the answer to the first question is conceptual, then you will want to visualize qualitative information. If data-driven, you are likely going to plot quantitative information.
Berinato describes four types of visual communication: idea illustration, idea generation, visual discovery, and every day “dataviz.” The goal of idea illustration is to clearly communicate complex information by relying on visual metaphors or basic geometric shapes.8 For example, consultants will often use a metaphorical tree in diagramming decisions that can be made. As another example, organizational charts and flow charts often use geometric shapes and hierarchies to communicate the relationships of reporting responsibilities and the flow of processes.
The second type of visual communication is idea generation, or creative thinking, to solve problems and capitalize on business opportunities. Idea generation is useful for various business professionals – from finance managers looking to make strategic cost reduction decisions, to independent auditors holding brainstorming meetings to discuss the risk of fraud. Incorporating visualization as part of the idea-generation process can lead to higher-quality idea conception.
Visual discovery, the third type of visual communication, can be broken down into two categories: testing hypotheses and open-ended exploration.9 In testing hypotheses, data visualizations can serve as confirmation that a suspected relationship between variables exists. For example, an auditor that suspects fraudulent revenue recognition could use data visualization to compare a population of sales invoices to shipping documents to confirm whether or not recorded sales are supported by evidence of shipping. The second category of visual discovery, open-ended exploration, is useful for spotting trends, making sense of complex data, and performing deep analysis.
Finally, Berinato describes everyday dataviz as simple line charts, pie graphs, and bar charts that can be generated in spreadsheet software such as Excel. The data for this type of visualization is simple and low volume. The goal is typically communicating a simple message for formal presentations. Examples include quarterly profitability, income versus expense, and expenditures by percentages. Despite the simplicity, it is important that CPAs are proficient at creating and communicating through everyday dataviz because poorly designed graphs can result in unnecessary questions and failure to communicate the point.
The execution of data analytics requires certain skills and software to perform. According to an EY survey, 58 percent of CFOs and finance leaders believe they need to increase their understanding of digital technologies and data analytics as a strategic priority.10 Fortunately, there is a plethora of resources and off-the-shelf software, such as SQL (Structured Query Language) and Python, to run data analytics and conduct various forms of forensic analysis. SQL and Python are programming languages used for accessing, manipulating, and analyzing data contained in databases.
The majority of CPAs are well versed in Excel, but when comparing the technical abilities of SQL and Python to Excel, the latter is less efficient and incapable of handling high-volume data analytics.
Tableau is a popular software program that is robust in graphic visualization and reporting. A free version is also available called Tableau Public. There are dozens of other data visualization programs, including Microsoft BI, Domo, and Zoho Reports, to name a few. It is important to note that software is only as good as the person using it, and it can’t replace human judgment. Software is useless without the right people asking the right questions. CPAs that are comfortable approaching unfamiliar data can use data analytics and visualization as a successful approach to problem-solving and strategic decision-making.
Becoming proficient with data analytics and visualization requires an investment in education and training. Surely that is no easy task for busy professionals, but it could be a worthwhile investment. A CGMA survey found that 85 percent of respondents believe data analysis skills will enhance career options and employability.11
So how can CPAs prepare for the opportunities and challenges related to big data? The top three learning opportunities by potential for skill development are a data analytics degree, data analytics certificate, and proficiency in data visualization software.12 In Pennsylvania, there are several colleges and universities that offer analytics degrees at the graduate level.
Another option is to take data analytics and visualization courses offered through Coursera, an educational company that specializes in massive open online courses. Coursera partners with universities to offer content for free or at a low cost. For example, Coursera offers a data visualization course developed by the University of Illinois Urbana-Champaign. Students gain access to course materials for free, but they have the option to purchase the course and obtain access to graded materials, receive a grade after completing assessments, and earn a certificate of completion.
Many consulting firms also provide professional workshops focused on data analytics and visualization proficiency in a variety of formats, including online, traditional live-classroom instruction, accelerated 90-minute sessions, and multiple-week classes. The PICPA, too, has numerous courses available that cover data analytics.
The complexity and volume of data will only grow in the future, and surveys of business leaders highlight the importance of being able to gain insight from such data. By applying data analytics, CPAs can make sense of large data sets in a way that was not possible until recently. CPAs can add value to their organizations by leveraging the power of data analytics and visualization to recognize trends, predict outcomes, and test hypotheses. Ultimately, these skills improve the CPA’s decision-making and provide a competitive advantage in the marketplace.
1 “Bringing Big Data to the Enterprise,” IBM. www-01.ibm.com/software/data/bigdata/what-is-big-data.html
2 From Insight to Impact: Unlocking Opportunities in Big Data, CGMA (2013).
3 “Business Analytics and Decision Making: The Human Dimension,” CGMA (2016).
4 M. C. Potter, B. Wyble, C. E. Hagmann, and E. S. McCourt, “Detecting Meaning in RSVP at 13 ms per Picture,” Attention, Perception & Psychophysics, 76(2), 270–9 (2014).
5 D. R. Vogel, G. W. Dickson, and J. A. Lehman, Persuasion and the Role of Visual Presentation Support: The UM/3M Study, 21 (June 1986).
6 Ramesh Sharda, Dursun Delen, Efraim Turban, Business Intelligence: A Managerial Perspective on Analytics (Upper Saddle River, NJ: Pearson, 2014).
7 S. Berinato, “Visualizations That Really Work,” Harvard Business Review, 94(6), 92–100 (2016).
10 “Do You Define Your CFO Role? Or Does It Define You? The Disruption of the CFO’s DNA,” The DNA of the CFO, EY (2016). www.ey.com/Publication/vwLUAssets/EY-the-disruption-of-the-CFOs-DNA/$FILE/EY-the-disruption-of-the-CFOs-DNA.pdf
11 “Business Analytics and Decision Making: The Human Dimension,” CGMA (2016).
12 N. Tschakert, J. Kokina, S. Kozlowski, and M. Vasarhelyi, “The Next Frontier in Data Analytics,” Journal of Accountancy, August (2016), 58–63.
Cory Ng, CPA, DBA, CGMA, is an assistant professor of instruction and the undergraduate program director of accounting at the Fox School of Business at Temple University in Philadelphia. He is also a member of the Pennsylvania CPA Journal Editorial Board. He can be reached at email@example.com or on Twitter @cngcpa.
Mason Pan is director at Control Risks in Washington, D.C., a professional services firm that specializes in compliance, forensics, and intelligence. He can be reached at firstname.lastname@example.org.
The authors gratefully acknowledge Steven G. Blum, CPA, CFE, CFF, a member of the Pennsylvania CPA Journal Editorial Board, for his efforts in coordinating this article.
Reprinted with permission from the Pennsylvania CPA Journal, a publication of the Pennsylvania Institute of Certified Public Accountants.
The Fox School’s Department of Marketing and Supply Chain Management (MSCM) not only offers high-quality academic programs at the undergraduate, graduate, and doctoral level, but also offers non-credit opportunities for industry professionals. MSCM collaborates with the Project Management Institute (PMI), Delaware Valley Chapter (PMI-DVC) to expand Fox’s opportunities for professionals by offering the Project Management Professional (PMP) Prep Program.
PMP Prep is a two-course sequence of foundations and exam preparation courses dedicated to preparing project management professionals to study and sit for the Project Management Professional (PMP) ® certification.
MSCM offers this program during the fall and spring semesters at the Temple University Center City campus in small class settings during the evenings to accommodate demands of working professionals. All instructors are members of PMI-DVC and certified PMPs with extensive real-world project management experience. We are offering this non-credit executive education program for the third year, and it continues to enroll an increasing number of prospective PMP candidates each semester.
Speaking on the impact of a PMP certification, Michael Chapman, director of training for PMI-Delaware Valley Chapter, said, “I have always been impressed with the universal recognition of the Project Management Professional (PMP) ® certification and the respect that it is afforded worldwide. Individuals who pursue the PMP certification demonstrate their commitment to professionalism and their dedication to their careers.”
Those interested in learning more about this program can contact Dr. Mark Gershon, professor of operations management in MSCM, at email@example.com.
Learn more about the Department of Marketing and Supply Chain Management.
This past year has been very exciting with the outstanding achievements of our students and faculty. Student enrollment and quality of the students continue to increase. The Fox School actively assesses and updates our BBA and MBA curricula to meet the demands of the marketplace; notably, we have incorporated more analytics and project-based assignments across our programs to best prepare the students for career launch. This fall, the Department of Marketing and Supply Chain Management (MSCM) launched a joint MS program initiative with Temple University’s Klein College of Media Communications. We continue to collaborate on innovative interdisciplinary programs and initiatives with other departments and schools across the university.
MSCM expanded our co-curricular opportunities for undergraduate student development with integration of the Fox Leadership Development Program (FLDP); this program encourages a culture of student engagement, achievement and leadership outside of the classroom. MSCM formally created “badge” achievements for our practice-focused offerings in Consumer Insights, Sales Force Effectiveness and Supply Chain Management to track student interest and career focus. MSCM offers the Quant Camp badge each semester to students that want to enhance their skills in SPSS software. We also collaborate with our Student Professional Organizations (SPOs) to offer badges, such as a Professional Sales Organization (PSO) Sales Certificate badge.
MSCM’s Student Professional Organizations (SPOs) continue their reputation of growth and success. Temple University’s American Marketing Association (TU-AMA) placed 3rd in the International AMA Collegiate Case Competition and named a Top 5 chapter globally. TU-AMA and MSCM hosted Fox Marketing Week in October to raise awareness of the marketing program offerings, highlight potential career paths, visit local companies, and provide student networking opportunities with executives and industry professionals. TU-AMA also hosted their regional AMA collegiate conference in October; over 170 attendees from local and regional university participated.
Temple University Supply Chain Association (TU-SCA) students are active in national and regional industry conferences and competitive events. TU-SCA students have represented MSCM at industry events, received scholarships, participated in case competitions, and hosted industry professional organization meetings at Alter Hall. MSCM and TU-SCA hosted the annual SCM Career Expo in October that featured over 25 firms recruiting our students and drew over 100 student attendees.
The Sales Education Foundation ranked Temple University as a 2017 Top University for Professional Sales Education. Professional Sales Organization (PSO) students continue to excel in their national and regional sales competitions, building on that reputation. Students placed 2nd and 5th in the Speed Selling Competition at the International Collegiate Sales Competition at Florida State University this fall.
Dr. Subodha Kumar joined MSCM as a full professor of Supply Chain Management. MSCM also hired Tim Young as an instructor in Management Science Operations Management.
Our centers in Big Data in Mobile Analytics, Neural Decision Making, and the Consumer Sensory Innovation Lab continue to produce innovative research. Dr. Xueming Luo’s Global Center for Big Data in Mobile Analytics has actively supported research in top journals and is co-hosting a conference on digital, mobile marketing, and social media analytics with NYU in December. Dr. Luo will also bring the 40th Annual INFORMS ISMS Marketing Science Conference to Temple University in 2018.
The Neural Decision Making Center, directed by Dr. Angelika Dimoka, co-organized an international symposium: Interdisciplinary Symposium on Decision Making held at Stanford University with over one hundred participants.
Dr. Vinod Venkatraman and Dr. Angelika Dimoka (with Dr. Pavlou) received a grant for $160,000 to study the effect of age on branding. Dr. Crystal Reeck also received a $32,194 grant to study social reward and aging. MSCM faculty have published articles in several journals, such as Journal of Consumer Psychology, Journal of Marketing, Marketing Science, Management Science, Journal of Production and Operations Management, Journal of Business Research, MIS Quarterly, Journal of Product and Information Management, Journal of Retailing, Journal of Neuro Science and the MIT Sloan Management Review. A fourth year Ph.D. student, Ning Ye, won an ACR Sheth Foundation Award in October.
We are very excited about continuing the momentum of MSCM programs in 2017–2018 with additional research faculty and new Ph.D. students.
Michael F. Smith
Chairman, Marketing and Supply Chain Management Department
Bloomberg claimed that in 2016, $255 million is spent each month on social media influencer marketing. The influencer trend has continued to increase since then, as brands pay celebrities both big and small (or, as they’re now called, micro-influencers and nano-influencers) to share photos, stories, GIFS, selfies, and reviews through their own social media accounts about how much they love their products.
Social media analytics, including the impact and evolution of influencer marketing, is one of the main research areas of Dr. Subodha Kumar, a professor of marketing and supply chain management who came to the Fox School of Business this year after previous teaching engagements at the University of Washington and Texas A&M.
Kumar, the deputy editor of the Production and Operations Management Journal, is also spearheading a new PhD concentration in supply chain management and is the director of the Fox School’s new Center for Data Analytics. His other research interests include healthcare analytics, cybersecurity, web and mobile advertising, and supply chain analytics.
Given the current buzz around influencer marketing, we spoke to Kumar about where he sees the trend heading in the future. Here’s what we learned.
Social media influencers are still a relatively new phenomenon, but what have been some of the big changes over the last year?
Until last year, somebody might tweet, “I really like Pepsi,” and it wasn’t clear if they were just giving their opinion or if it was an ad. Now there’s a federal rule that it has to be tagged as an ad; if you’re taking money it has to be clear. Companies, like Coke and Pepsi, are finding big people to tweet about their product, so when we think of big influencers, we think of Michael Jordan or someone similar, but it’s not always someone that big. You can also find people who have a lot of followers, and who may impact views, but those influencers who are relatively unknown outside of a specific community might be very relevant to the target consumer. Companies choose influencers based on many factors, like how many people follow them, how much their opinions are valued, and who follows them. The overall goal of influencer marketing is transferring the influence into dollar values.
Do you think it was a good move to make it a rule that paid influencer shares be tagged as ads?
In my opinion, it’s a must. I think it’s important, otherwise you get into problems like those faced by Amazon, which gives products for review to customers who have high reviewer followings. The rules keep changing, but they’re trying to make the role and connection of the influencer to the product more obvious. People value opinions of influencers, so it has to be made clear. We collect a lot of data from Twitter to study how this all works. I’m now trying to get data to determine how people’s perceptions of campaigns have changed since it has been required to state that an influencer tweet is an ad.
Where do you think the influencer model will go next?
One thing that will eventually change is that companies will have to decide and determine more influencer factors. Right now, it’s pretty straightforward: The company locates an influencer and pays the influencer to share X number of tweets. But soon, more attention will have to be paid to sequence and frequency. Which ad you see first is very important. If you go to a company website, for instance, the order in which you experience an ad is planned to have the best outcome. That’s not happening now with Twitter influencers, but we’ll see more of it.
Also, more attention will be paid to identifying combinations of influencers. Now, influencers are normally hired as individuals. But there will be more synergy over time, so if there are three influencers sharing, what’s the best sequence for them to share in? Some influencers will have common followers, so the tweet needs to be timed to come from the influencer the people value more, first. We’re looking into this now, but it’s a complicated situation. The influencer model is still in its infancy, but it’s becoming more refined. It will keep going in new, more interesting directions, and we’ll continue developing more sophisticated ways to research it.
Learn more about the Department of Marketing and Supply Chain Management.
On Friday, October 27, 2017, Temple University American Marketing Association (TU-AMA) hosted the 5th Annual Regional Marketing Conference, where the theme was “Adapting Content to the Future.” The sold-out event was attended by over 170 people, including collegiate members of AMA from the College of New Jersey, West Chester University, Pennsylvania State University, Virginia Tech, and Lehigh University. Also in attendance were industry professionals from Burlington, Merck, SideCar, Horizon Media, Publicis Groupe, Kantar Health, AmerisourceBergen, Mangoes, and Ipsos, many of whom were Temple alumni.
Fara Warner, vice president of custom content at The Wall Street Journal (WSJ), was the keynote speaker. Her presentation addressed the changing demands of media toward millennials and how content needs to be delivered to adapt to evolving preferences.
WSJ also collaborated with TU-AMA to offer a case competition. Seventeen teams submitted a written case memo, and the top eight teams were selected to present to WSJ professionals. A TU-AMA team of sophomore Anastasia Postolati, freshman Emily Allocco, and freshman Anjali Sachdeva won the case competition with their recommendation to implement a student blogging page, “The Wall,” designed for college students to interact on WSJ through publishing stories and commenting on news articles with other millennials. The team also recommended the adoption of “Street Team,” a WSJ student ambassador program on college campuses. The winning team will travel to New York City to work for a day with WSJ professionals to create the ideas presented in their case.
Speakers from Vox Media, the Brownstein Group, and Chatterblast Media also presented, focusing on the ever-changing growth and demand of digital marketing and provided guidance for millennials to adapt to these changes to succeed in the field. A brief Q&A followed each presentation to engage attendees eager to discuss these ideas.
The conference provides a unique opportunity each year for students to network with professionals, students from other AMA chapters, and Fox alumni. The Fox School’s Department of Marketing and Supply Chain Management and TU-AMA will host the 6th annual conference again next October.
Students were enthusiastic and pleased with this year’s conference. Here are some of their comments:
“It was awesome to hear from a wide array of professionals from different fields and stages in their career. Zach Khan, from Vox Media, talked about his ‘go-get-em’ mentality and it was inspiring to hear as an upperclassman who is looking for future careers.” – Elliot Barbell (Junior, Marketing major, Digital Marketing minor)
“I liked the variety topics talked about by the speakers. Matthew Ray [from Chatterblast] was hilarious yet informative and relatable at the same time. It was fun to watch him throw an entertaining twist to marketing.” – Amna Mahmood (sophomore, kinesiology major)
“From a film perspective, the conference helped out with networking and allowed a great atmosphere for learning from very experienced professionals.” – Steven Aronow (sophomore, marketing/media and production major)
“It was interesting to hear from professionals in the industry about the new ways they’re marketing to different demographics. Specifically, how The Wall Street Journal is attempting to target the younger demographic.” – Patrick Lavelle (junior, marketing major)
TU-AMA graciously thanks their conference sponsors for their support: DVIRC, Harmelin Media, Mikey Robbins, Pita Chip, Saxbys, Temple Book Store, Under Armour, WaWa, WSI, The Wall Street Journal, and of course, the Marketing and Supply Chain Management Department.
Learn more about the Department of Marketing and Supply Chain Management.