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Calling all entrepreneurs and small business start-ups…

Every entrepreneur has questions. You need answers! We’re here to help.
Temple’s Small Business Development Center is hosting Temple Business Roundtables, a series of monthly business round table discussions. Our series kicks off on October 23rd at Temple University Center City. Registration is FREE
TBR will provide aspiring entrepreneurs with everything needed to make an informed decision about starting and running a small business.
Panelists will answer questions about all aspects of beginning and running a small business. We’ll have experts with the knowledge you need about legal, financial, marketing, HR, management, and funding resources.
Register for our October event here
Can’t join us in October? We’ll be hosting another TBR event on November 14 at Temple Ambler. More details and registration here

Risk is present everywhere, and it can threaten the operations of any organization, large or small. But how is it being managed … if at all?

“That’s a critically important question that leaders everywhere need to be asking themselves,” said M. Michael Zuckerman, an associate professor of risk, insurance, and healthcare management at Temple University.

Temple’s Fox School of Business welcomes industry leaders, educators, practitioners, and students to the 2018 Enterprise Risk Management Conference: Principles for ERM Innovation, on May 15. The conference will focus on the future of enterprise risk management, a method through which organizations can mitigate threats while also capitalizing on opportunities that support their primary objectives.

“Today, we’re seeing that risk can surface in multiple forms: cybersecurity, supply chain, climate change, human capital, data analytics, and beyond,” said Zuckerman, one of the conference’s organizers. “One goal of this conference is to help any organization—large or small, profit or non-profit, public or private—in addressing these risks, either through the launch of its enterprise risk management program or to proliferate its existing program.”

The Fox School of Business arranged an all-day agenda of leading practitioners and educators, including:

  • Carol Fox: Vice President of Strategic Initiatives at the Risk & Insurance Management Society (RIMS)
  • John Littig: Chief Finance and Underwriting Officer of The Risk Authority, Stanford University Health System
  • Kelly Botti, Esq.: Chief Risk Officer and Corporate Counsel, Trumark Financial Credit Union
  • Michelle Histand: Director of Innovation, Independence Blue Cross
  • Andrew Tait: P.E., Senior Consultant and Practice Leader, Core Risks Ltd., A JLT Specialty USA Company

Visit the Fox School’s website for more on the conference, organized with support from management consulting firm Navigate as well as the Spencer Educational Foundation.

Media requests: Please send requests to Christopher A. Vito, associate director of communications & media relations, Temple University’s Fox School of Business, at cvito@temple.edu

For more stories and news, follow the Fox School on LinkedInTwitterFacebook, andInstagram.

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 cvito@temple.edu.

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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

CONSUMER BEHAVIOR
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.

ECONOMIC IMPACT
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

EVENT PRODUCTION
Ira Rosen, Assistant Professor of Tourism and Hospitality Management, STHM
Available to discuss: Event production, entertainment booking, client account management, and service consulting

RISK MANAGEMENT
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

SOCIAL MEDIA
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

SPORT BETTING
Dr. George Diemer, Assistant Professor of Sport and Recreation Management, STHM
Available to discuss: Sport economics, including odds and probabilities and sport betting

TICKET MARKETS
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

TOURISM IMPACT
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

For more stories and news, follow the Fox School on Twitter, Facebook, and Instagram.
Home healthcare is a growing need for many Americans. But is it delivering on its promises? (Photo: MyFuture/Flickr)

Americans are growing older—and their caretakers need to decide the best and most cost effective way to care for them.

Since 2011, nearly 77 million baby boomers have become eligible for Medicare. For the elderly and those suffering from chronic diseases, home healthcare (HHC) is a convenient and cost-effective solution that avoids the necessity of receiving care through hospitals and nursing homes.

HHC meets an important demand in the healthcare system. Experts have found that close to 90 percent of Americans wish to spend their final time at home. But how does the care HHC providers deliver compare to that of larger health institutions?

Last year, In collaboration with investigators at the University of California at Irvine, Dr. Jacqueline Zinn, professor in the Fox School’s Department of Risk, Insurance and Healthcare Management, has received a five-year grant from the National Institute of Health to investigate the cost effectiveness and quality of care provided by home healthcare agencies.

Over the last decade, the home healthcare field has seen dramatic increases in patients, care providers, and spending. The New York Times reported that individual states spend close to $200 billion of their own funds on Medicaid, making it the second biggest item within their budgets.

As projections continue to rise and healthcare technology advances, patients should be aware of their care options.

“What we don’t know is whether or not the technologies that lead to additional growth impact the quality of care delivered,” said Zinn. “In other words, do larger facilities have better quality associated with growth? What is the optimal [home healthcare] agency size with respect to cost and quality? These are the questions we hope to answer.”

Home healthcare not only includes rehabilitative care after surgery, but hospice care and palliative care, which is dedicated to relieving people’s physical and emotional symptoms after facing life-threatening illnesses.

“Healthcare is on track to become 20 percent of the GDP,” said Zinn. “That means one in every five dollars generated by the U.S. economy will be in the healthcare sector.”

Alongside her fellow researchers at the UC Irvine, Zinn aims to discover valuable insights for patients, government, and health institutions, and home healthcare agencies alike by learning more about this under-researched field.

Are you interested in the intersection of healthcare and business education? Read our article, “Why More Surgeons and Health Professionals Are Pursuing MBAs” and learn more about Fox School Research.
For even more stories and news, follow the Fox School on LinkedIn, Twitter, Facebook, and Instagram.

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 (Photo: Jim Roese)

MUSIC/ARTS

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.”

ACCOUNTING

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.”

INSURANCE

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.”

REAL ESTATE

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.”

GOVERNMENT

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.”

ENTREPRENEURSHIP

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.”

Getty Images

SPORTS

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.”

TRANSPORTATION

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.”

CYBERSECURITY

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.”

HEALTH

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.”

FINANCE

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.”

For more stories and news, follow the Fox School on Twitter, Facebook, and Instagram.

Mitchell L. Morgan recalled driving along Broad Street more than 45 years ago. His future, he said, had as little direction as the car he was steering.

“Higher education wasn’t for me, or so I thought,” Morgan said. “I wanted to go into the world. I wanted to start a business. I wanted to see it grow. But that was before I got to Temple University.”

Temple University’s Fox School of Business honored Morgan as the recipient of the 21st annual Musser Award for Excellence in Leadership, the highest honor conferred by the school, during a Nov. 8 dinner and reception at Mitten Hall.

The evening paid homage to Morgan, a Temple graduate and member of the university’s Board of Trustees. Morgan is the founder and chairman of Morgan Properties, one of the largest owners of multi-family apartment communities in the country. He founded the company in 1985, and has grown it to more than 37,000 units in 139 apartment communities in 10 states.

He and his wife, through their Mitchell and Hilarie Morgan Family Foundation, remain committed to making a difference in the lives of others. In particular, the Morgans’ lifetime support of Temple helped erect the 27-story residence hall that bears their names.

From the podium, Morgan thanked his family. At times in his career, he said, he leaned upon their support as much as his education.

“Having a dream in business was not enough,” Morgan said. “I needed the skills. I needed to be Temple Made. That’s why I’m proud to give back to this great university.”

Morgan’s career in real estate spurred a lively opening to the festivities by the evening’s master of ceremonies, Tyler Mathisen, the managing editor of CNBC Business News and co-host of the network’s show, Power Lunch. Mathisen emerged from behind a door to greet attendees, shortly before a handful of Fox Real Estate majors knocked at another door on stage.

“Every year that I’m on campus, the students look younger and younger. That’s probably because I keep getting older!” Mathisen quipped.

The Musser Awards dinner and reception annually honors achievement in business and outstanding leadership and service to the Philadelphia community. Past top honorees in attendance included Warren V. “Pete” Musser, Robert Fox, and Steven Korman, and Temple Trustees Dennis Alter, Joseph F. Coradino, Chair Patrick J. O’Conner, Daniel H. Polett, and Jane Scaccetti.

“We are proud to honor Mitch, a driven leader who understands business principles as much as the value of giving back,” said Dr. M. Moshe Porat, Dean of the Fox School of Business. “He has committed himself to a lifetime of opening doors for people, from residents of his properties and colleagues of his company to the many beneficiaries of his charitable support.

“And this is worth mentioning,” Porat added. “While only one building on Temple’s campus is named for Mitch, he has led a campus renaissance and has placed his fingerprints on dozens of renovation projects. He is Temple University through and through.”

Even More Accolades

Faculty and staff at the Fox School joined Morgan as honorees at the 21st annual Musser Awards. Here are the winners:

  • Excellence in Teaching: Krupa Viswanathan, PhD, Associate Professor of Risk, Insurance, and Healthcare Management
  • Excellence in Research: In-Sue Oh, PhD, Charles Beury Professor of Human Resource Management
  • Excellence in Faculty Service: Susan M. Mudambi, PhD, Research Professor of Marketing and Supply Chain Management
  • Excellence in Administrative Service: Christine Kiely, Associate Vice Dean of MBA, MS, and International Programs
  • Excellence in Student Leadership: Megan Stoner, FOX ’17
  • Excellence in Alumni Achievement: Brett Kratchner, FOX ’83
For more stories and news, follow the Fox School on Twitter, Facebook, and Instagram.
Dr. Randy Dumm, right, Research Professor within the Fox School’s Risk, Insurance and Healthcare Management department, accepts the school’s designation as a Global Center of Insurance Excellence (GCIE) at the International Insurance Society (IIS) Global Insurance Forum in London. At left is IIS President and CEO Mike Morrissey.

Temple University’s Fox School of Business has been recognized as one of the inaugural awardees of the International Insurance Society’s Global Centers of Insurance Excellence (GCIE) designation.

The Fox School became one of the first recipients of this distinguished honor at the IIS Global Insurance Forum, held July 17-20 in London. Research professor Dr. Randy Dumm attended the forum and the conferring of this distinction on behalf of Fox’s Department of Risk, Insurance and Healthcare Management.

Founded in 1965, the IIS is considered the world’s largest and most-prestigious insurance industry organization. It aims to drive industry growth by bridging insurance executives, academics, and policymakers from nearly 100 countries.

The GCIE certification program, formed this year by the IIS, recognizes only 20 universities worldwide as leading providers of risk management and insurance education, and serves to enhance their connections and reputations with the insurance industry.

Universities awarded the GCIE designation must meet or exceed criteria related to course offerings; graduate and industry employment rates; and professional involvement. Additionally, a university must demonstrate that its students are exposed to designated full-time faculty with appropriate qualifications and research expertise. GCIE designation is retained for five years and thereafter extended upon renewal.

“It is incredibly humbling to learn that the Fox School’s Risk Management and Insurance program has been chosen as one of the first colleges and universities worldwide to receive this coveted distinction,” said Dr. R.B. Drennan, Chair of Fox’s Risk, Insurance, and Healthcare Management department.

U.S. News & World Report has ranked the Risk Management and Insurance undergraduate program at the Fox School of Business among the top-10 programs nationally each of the last 10 years. The program dates to 1914, making it the nation’s oldest, continuously running program of its kind. Additionally, with more than 475 students, it is one of the United States’ largest-such programs.

The program is also home to the Sigma Chapter, the largest chapter of the international professional fraternity Gamma Iota Sigma. Fox’s Sigma Chapter has earned the Edison L. Bowers Award as best overall chapter in 18 of the last 24 years.

Group photo of the Fox teamStudents and faculty from Temple University’s Fox School of Business are lacing up their running shoes to make a difference for a non-profit organization in Philadelphia.

Runners who have registered for Philadelphia’s Broad Street Run on May 7 are welcome to join the Fox School’s team, led by professor Michael McCloskey. Interested runners can purchase a Fox School team running shirt to be worn on the day of the 10-mile race, with all proceeds supporting a charitable organization.

This year’s charity of choice, ARTZ Philadelphia, is a non-profit organization that provides opportunities for self-expression and the rebuilding of self-esteem and dignity to people living with dementia and their caretakers through the use of artwork.

“Our team fields faculty and students from all of Temple’s schools and colleges, not to mention alumni,” said McCloskey, who teaches in Fox’s Department of Risk, Insurance, and Healthcare Management. “Not only are we helping a great cause, but we’re bringing together our entire university in the process.”

McCloskey’s team, in its ninth year, expects more than 250 runners and nearly $4,000 in contributions to ARTZ Philadelphia. The team had only 15 runners in 2009, its first year.

This effort is but one facet of the yearlong contributions being made to ARTZ Philadelphia.

Annually, students from Temple’s Sigma Chapter of Gamma Iota Sigma – a national professional organization for risk management and insurance majors – support a charity of choice through active fundraising during the academic year. In 2015-16, the Sigma Chapter donated $15,000 to Brave Hearts for Strong Minds, a Philadelphia-based organization that provides college funds for children who have lost an income-earning parent.

“The work of these students is an extraordinary active investment in their community,” said Susan Shifrin, ARTZ Philadelphia’s founder and executive director. “That’s one of the things that has most impressed me. Additionally, these students have participated in volunteer training sessions to find other ways to give back to our organization. I have been very impressed with their sensitivity and their commitment to philanthropy.”

ARTZ Philadelphia has an estimated operating budget of $60,000, said Shifrin, which demonstrates the need for the anticipated five-digit donation from Fox’s students.

“The possibilities are endless with how their contributions can support our work,” Shifrin said.

For Fox’s Broad Street Run team, the charitable connections do not end there. The team receives its running shirts at no charge from Ivory Ella, a charitably minded apparel company owned by 2015 Fox School alumnus Rich Henne. What’s more, the running team guarantees its runners free campus parking, and provides transportation to and from the start-finish lines and a post-race barbeque courtesy Temple Police.

“Our team receives support from top to bottom,” McCloskey said. “Overall, the groundswell of support we have received from Temple runners who want to help a good cause has been outstanding.

“I think everyone wants to be a part of something that supports a greater cause, and that’s what we’re trying to do through the Broad Street Run.”

Laureen-ReganDr. Laureen Regan, an Associate Dean and Associate Professor at Temple University’s Fox School of Business, died March 5. She was 52.

Regan served in a variety of capacities during her 23-year tenure at the Fox School. Most recently, she was Associate Dean of Fox’s MBA Programs and its suite of Specialized Master’s Programs. She also served as an Associate Professor within Fox’s Risk, Insurance, and Healthcare Management program.

“Laureen was a significant, respected, and beloved member of the Fox family,” said Dr. M. Moshe Porat, Dean of the Fox School. “I have fond memories of her, dating back to 1993. This was when I first met her, as the chair of the Risk department, and hired her to a faculty position. At this time, my thoughts and prayers are with her husband, their daughter, and her family and friends.”

Regan’s teaching portfolio included courses in the Fox School’s undergraduate, Global MBA, and Executive MBA programs on four continents. She also held visiting research fellow appointments at the University of Pennsylvania’s Wharton Financial Institutions Center and Georgia State University.

Regan received recognition by the Fox School on multiple occasions for her contributions in the classroom. In 2008 and 2011, she was named MBA Faculty of the Year. She also twice received the Crystal Apple Award for Outstanding MBA Teaching, in 2009 and 2011. She was honored as the 2009 recipient of the Musser Award for Excellence in Teaching, as well.

In her field, she sat on the academic advisory board for the Registered Professional Liability Underwriters designation granted by the Professional Liability Underwriters Society. She also served as President of the American Risk and Insurance Association (ARIA), the leading academic research organization in her field of study.

Dr. R.B. Drennan, Chair of Fox’s Risk, Insurance, and Healthcare Management department, has known Regan since they were doctoral students together at the University of Pennsylvania’s Wharton School.

“Laureen was a talented and gifted teacher who commanded respect in the classroom,” said Drennan. “She and I once co-taught a larger section of an undergraduate course, and I was a first-hand witness to her energy and activity in the classroom. Her students raved about her. Additionally, she was well accomplished and made a number of significant contributions in her time as ARIA president. She was one of the leaders in our department here, and she will be missed greatly.”

Her research in insurance economics, risk management, and public policy garnered a number of national awards, most notably in 1999 when she received the James S. Kemper Foundation Award from the American Risk and Insurance Association. In 2008, her work earned best feature article designation from the Risk Management and Insurance Review.

Regan earned her Bachelor of Science degree in Finance and Economics from the University of Pittsburgh. She later earned her Master of Arts degree and PhD from the University of Pennsylvania – the latter in Managerial Science and Applied Economics, with a specialization in Insurance, Risk Management, and Industrial Organization.

She is survived by her husband, Paul, and their daughter, Rowan.

A team of students from the Fox School of Business put together the pieces to win a national case competition.

The students won the Spencer-RIMS Risk Management Challenge, a three-month case study from a major company – iconic toymaker, LEGO. The competition culminated with eight teams delivering presentations during the RIMS 2016 Annual Conference and Exhibition, held April 10-14 in San Diego, Calif.

This marked the third win in five years for students from the Fox School’s nationally ranked Risk, Insurance, and Healthcare Management department. Senior Actuarial Science majors Carolyn Murset and Zilong Zhao, and Risk Management and Insurance majors Andrew Donchez and Sean Preis, a senior and a junior, respectively, comprised the winning team, which received $4,000 in prize earnings.

The Spencer-RIMS Risk Management Challenge tasks undergraduates from around the country with developing a comprehensive, written risk analysis that will be judged by a panel of experts at the annual risk management society’s conference.

“Temple’s Risk Management and Insurance program has helped us to hone our analytical and critical-thinking skills, and adequately prepared us to identify the main risks facing LEGO,” Donchez said. “Meeting LEGO’s strategic risk manager and picking his brain taught us that risk management is a real-world issue that demands passionate, curious and persistent practitioners.”

“Winning the competition is an extraordinary closing on the last chapter of my Temple journey,” Zhao said. “It signifies the high caliber of future business leaders Fox School has nurtured.”

Temple University’s Fox School of Business received a $250,000 grant from the Charles Schwab Foundation as part of Schwab Advisor Services’ efforts to support the Fox School’s financial planning programs.

The grant enabled the construction of the Charles Schwab Financial Planning Training CenterTM in second-floor space in Alter Hall. The contribution also financed the purchase and installation of 75 laptops with data connections, two 65-inch LCD wall-mounted displays, a digital stock ticker, and HD capability. A room dedication ceremony will take place Wednesday, Nov. 2.

“We are proud to partner with Temple University to inspire and develop the next generation of independent investment advisor talent,” said Bernie Clark, executive vice president and head of Schwab Advisor Services. “We believe that students in the financial planning program will be well-positioned to meaningfully contribute to the independent investment advisor industry, a growing and increasingly prominent field.”

“Combining the power of a degree in financial planning from the Fox School of Business with the generous support of the Charles Schwab Foundation affords our students a tremendous opportunity,” said Cindy Axelrod, Director of the Fox School’s Financial Planning programs. “This experiential learning facility provides access to state-of-the-art investment and financial planning software and allows our students to train with the best tools available.”

Financial planning professionals take a holistic approach that enables their clients to identify and attain lifestyle and retirement goals through finance management, retirement and estate planning, and tax-efficient investing.

The Fox School of Business introduced Financial Planning as an undergraduate major in 2015 to prepare students for careers in this in-demand field. Students who complete Financial Planning curriculum at Fox are eligible to sit for the Certified Financial Planner (CFP) examination upon graduation, a unique feature of the program. The Fox School’s Finance department oversees the program, which also draws upon the expertise of faculty from Fox’s Legal Studies in Business and Risk, Insurance, and Healthcare Management departments.

About the Fox School of Business at Temple University

Established in 1918, the Fox School of Business at Temple University is the largest, most-comprehensive business school in the Greater Philadelphia region, and among the largest in the world, with nearly 8,500 students, more than 200 full-time faculty and more than 65,000 alumni. Accredited by AACSB International — a distinction held by less than 5 percent of the world’s business schools — the Fox School offers BBA, Global MBA, Part-Time MBA, Executive MBA, Online MBA, Specialized Masters, and PhD programs, and an Executive Doctorate in Business Administration, on campuses throughout the world.
fox.temple.edu

About Charles Schwab

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on TwitterFacebookYouTube, and LinkedIn

About Charles Schwab Foundation

Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at www.aboutschwab.com/community. The Charles Schwab Foundation is classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Charles Schwab Foundation and Temple University are unaffiliated entities.

Dr. R.B. Drennan, Chair of the Risk, Insurance, and Healthcare Management department, and Dr. M. Moshe Porat, Dean of the Fox School of Business, listen to one of the speakers at the 28th annual Department of Risk, Insurance, and Healthcare Management Awards for Excellence.
Dr. R.B. Drennan, Chair of the Risk, Insurance, and Healthcare Management department, and Dr. M. Moshe Porat, Dean of the Fox School of Business, listen to one of the speakers at the 28th annual Department of Risk, Insurance, and Healthcare Management Awards for Excellence.
Hundreds filled the two-tiered Grand Ballroom at Philadelphia’s Hyatt at the Bellevue for the Fox School of Business’ 28th Annual Department of Risk, Insurance, and Healthcare Management Awards for Excellence Dinner.

The gala, held April 13, helped pay tribute to the department’s current successes, as well as its rich tradition and rising national rank.

Dr. R.B. Drennan, Chair of Fox’s Risk, Insurance, and Healthcare Management department, honored a team of Risk Management and Insurance (RMI) and Actuarial Science students who, a weekend prior, had taken first place in the prestigious Spencer-RIMS national Risk Management Challenge, a three-month case study of a risk portfolio, for which the students were tasked with developing proposed solutions.

The night also centered on growth in the program. Not only is the Sigma Chapter of Gamma Iota Sigma the nation’s largest chapter, but the Fox School also serves as the largest provider of Risk Management & Insurance education in the United States, according to a recent survey.

Top industry executives have taken notice of our programs and that is a testament to the quality of our students,” said Dr. M. Moshe Porat, Dean of the Fox School of Business. “I think you will all agree that we have succeeded on all accounts – more students, more speakers, better rankings, and more success.”

Porat helped found the department’s annual awards reception 28 years ago, when he served as the department’s chair. It began, Porat said, as a small luncheon held at Temple’s Mitten Hall.

And today, because of the many successes of our Risk, Insurance, and Healthcare Management students, smaller venues are not feasible for such an occasion,” Porat said.

The Grand Ballroom at Philadelphia’s Hyatt at the Bellevue served as the venue for the 28th annual Department of Risk, Insurance, and Healthcare Management Awards for Excellence.
The Grand Ballroom at Philadelphia’s Hyatt at the Bellevue served as the venue for the 28th annual Department of Risk, Insurance, and Healthcare Management Awards for Excellence.
Richard Rosenbaum, senior Actuarial Science major and President of the Sigma Chapter of Gamma Iota Sigma, lauded Drennan for facilitating the department’s growth and continually improving its reputation nationally and internationally. For the third consecutive year, Fox’s RMI program ranked among the nation’s top-5 such programs in the United States.

He not only has shown us the vast opportunities available in risk management, but also has helped us with navigating difficult educational and professional decisions in our first years at Temple,” Rosenbaum said of Drennan, who presides over the longest-running continuous program of its kind in the U.S.

Dr. R.B. Drennan, Chair of the Risk, Insurance, and Healthcare Management department, delivers remarks at the department’s 28th annual Awards for Excellence.
Dr. R.B. Drennan, Chair of the Risk, Insurance, and Healthcare Management department, delivers remarks at the department’s 28th annual Awards for Excellence.
The event’s keynote speaker, Thomas F. Motamed, Chairman and Chief Executive Officer for CNA Financial Corporation, discussed his foray into the RMI industry, its future, and the role Fox School of Business students can play in it. Motamed addressed the ever-increasing need for talent in the RMI profession as one of the most significant challenges facing the industry today. Due to retiring professionals, he said the industry needs to fill 400,000 positions by 2020 in order to remain fully staffed.

So if you are a student of risk management at Temple, you must be aware that you are truly coveted,” Motamed said. “You are the human capital of the future.”

The winning team from Temple University’s Fox School of Business featured Carolyn Murset, Andrew Donchez, Sean Preis, and Zilong Zhao. They are joined by Dr. R.B. Drennan, Chair of Fox’s Risk, Insurance, and Healthcare Management department.
The winning team from Temple University’s Fox School of Business featured Carolyn Murset, Andrew Donchez, Sean Preis, and Zilong Zhao. They are joined by Dr. R.B. Drennan, Chair of Fox’s Risk, Insurance, and Healthcare Management department.

A team of students from Temple University’s Fox School of Business put together the pieces to win a national case competition.

The students won the Spencer-RIMS Risk Management Challenge, a three-month case study from a major company – iconic toymaker, LEGO. The competition culminated with eight teams delivering presentations during the RIMS 2016 Annual Conference and Exhibition, held April 10-14 in San Diego, Calif.

The win marked the third in five years for students from the Fox School’s nationally ranked Risk, Insurance, and Healthcare Management department. Senior Actuarial Science majors Carolyn Murset and Zilong Zhao, and Risk Management and Insurance majors Andrew Donchez and Sean Preis, a senior and a junior, respectively, comprised the winning team, which received $4,000 in prize earnings.

The Fox School students bested Florida State University and Butler University, which placed second and third, respectively.

The Spencer-RIMS Risk Management Challenge tasks undergraduates from around the country with developing a comprehensive, written risk analysis that will be judged by a panel of experts at the annual risk management society’s conference.

“Temple’s Risk Management and Insurance program has helped us to hone our analytical and critical-thinking skills, and adequately prepared us to identify the main risks facing LEGO,” Donchez said. “Meeting LEGO’s strategic risk manager and picking his brain taught us that risk management is a real-world issue that demands passionate, curious and persistent practitioners.”

“This competition reinforces that the risk management profession’s future is bright,” said RIMS CEO Mary Roth. “The Rising Risk Professional demographic of RIMS members continues to grow and their contributions and professional needs have directly influenced the resources and opportunities the Society delivers. We are so proud to be able to introduce these students to the energy and excitement of a RIMS Annual Conference and congratulate all of them for participating in the challenge.”

In November, the Fox School team had learned that it had advanced in the competition. From there, the students spent months poring over research material to craft the perfect plan for reducing risk for a company that, despite its storied history and global appeal, came close in recent years to filing for bankruptcy. Judges gauged how well Fox’s students analyzed LEGO’s risks, and presented their research findings.

“Winning the competition is an extraordinary closing on the last chapter of my Temple journey,” Zhao said. “It signifies the high caliber of future business leaders Fox School has nurtured.”

The RIMS 2016 Annual Conference and Exhibition provides students opportunities to engage with sponsors and industry leaders, network with their peers, sit in on guest lectures, tour San Diego’s best attractions, and perform community service.

“Traveling to the RIMS Conference is an amazing experience for any student in RMI,” said Dr. R.B. Drennan, Chair of the Fox School’s Risk, Insurance, and Healthcare Management department. “The number of industry professionals our students met is overwhelming. I believe they received a very good idea of the field in which they are entering.

“Further, I couldn’t have been more proud of their achievements and extending Fox’s rich tradition in winning the Spencer-RIMS Risk Management Challenge.”

OWLympiad_1The Fox School of Business will welcome nearly 250 juniors from Philadelphia-area high schools to Temple University for the 7th annual OWLympiad math competition, to be held May 9 at the Howard Gittis Student Center.

Free to attend, OWLympiad offers cash prizes for 11th-graders who are exploring career possibilities in the actuarial science field. Actuaries leverage high-level numerical skills to assume positions in insurance, consulting, investment banking, government organizations, and more.

“This event creates awareness that actuarial science is an appealing career path for someone who loves math, and it’s a great way for local math-minded students to connect with one another,” said OWLympiad coordinator Dr. Krupa Viswanathan, an Associate Professor and Director of the Fox School’s Actuarial Science program.

OWLympiad will challenge teams of four students to demonstrate their knowledge in a range of math-related subjects, including algebra, geometry, and trigonometry. The competition, which begins at 9 a.m., will consist of a multiple-choice exam, a “24” math cardgame competition, and a Quizzo-style lightning round. The team that accrues the most points will be awarded $400. All participating students will receive a customized T-shirt, lunch, and other items provided by the event’s sponsors.

OWLympiad_2The Fox School’s Risk, Insurance, and Healthcare Management department, as well as the Sigma Chapter of international professional fraternity Gamma Iota Sigma, will host the competition. Travelers Insurance Company and the Casualty Actuarial Society are the event’s sponsors.

Temple University offers one of the most-distinguished Actuarial Science programs in North America, and has been recognized by the Society of Actuaries as a Center of Actuarial Excellence (CAE) – one of only 30 institutions to receive this honor. The Risk, Insurance, and Healthcare Management department has offered engagement opportunities for local high school students for the past 15 years, including OWLympiad.

Email Timothy Ellis (timothy.ellis@temple.edu) or Viswanathan (krupa@temple.edu) for more information about OWLympiad.

Exterior photo of Alter HallThe Fox School of Business at Temple University will introduce new academic programs for the 2016-17 academic year.

A Bachelor of Science program in Statistical Science and Data Analytics headlines the new offerings by the Fox School, and joins two undergraduate minors in Leadership and International Business Administration.

At the graduate level, students can elect for MBA concentrations in either Business Analytics or Enterprise Risk Management. In Fall 2016, Fox also will launch a Master of Science degree program in Business Analytics.

“The addition of new programs and concentrations demonstrate our reputation as one of the nation’s most-comprehensive business schools,” said Dr. M. Moshe Porat, Dean of the Fox School of Business. “Employers and industry partners agree that these areas represent emerging fields and areas of study wherein professionals and leaders are in great demand, and we have the diverse, renowned faculty to answer the call of industry and these support programs.”

The undergraduate major in Statistical Science and Data Analysis will provide students with the ability to select, utilize and apply quantitative reasoning and data analytic skills to their future fields of study, according to program director Dr. Alexandra Carides, Associate Professor of Statistical Science.

The minor in International Business Administration incorporates the nationally ranked curriculum of Fox’s undergraduate-degree program in International Business. The minor requires only four courses and four prerequisites, delivering the cornerstones of international business education while offering students the opportunity to complete a study-abroad trip in the process.

The minor in Leadership cultivates stronger interpersonal skills for effective management and leadership positions. With courses focusing on workplace demands for leadership from both the organizational and interpersonal points of view, the minor allows students to move beyond technical competence as they step into leadership roles in industry.

The MBA concentration in Business Analytics is designed to enable graduate students to use data and models to recognize opportunities and to improve organizational decision-making. “Data-driven decision-making has been shown to have large positive effects on outcomes of interest to organizations of all types,” said Assistant Professor of Marketing and Supply Chain Management Dr. Eric Eisenstein, the concentration’s director. “Business Analytics concentrators will meet the growing demand for talent in the areas of managing, analyzing, predicting, and discovering insights from the complex data that is available to modern corporations.”

The MBA concentration in Enterprise Risk Management, offered by one of the most-prestigious Risk Management programs in the nation, will prepare MBA students to design and implement state-of-the-art processes that enhance and improve organizational strategic decision-making, how it manages risk across the enterprise, as well as improving traditional risk mitigation decisions. “This concentration will provide MBA candidates with the concepts and tools to develop advanced organizational risk management capabilities and pursue executive responsibility for managing enterprise-wide risks,” said Assistant Professor of Risk, Insurance, and Healthcare Management Dr. M. Michael Zuckerman, the concentration’s director.

All eligibility and declaration questions regarding the new undergraduate major and minors should be referred to Fox’s Center for Undergraduate Advising. Graduate students are encouraged to speak with their program advisors for more details about new curricula.