Business Magazine - May 2016

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News from the Black School of Business at Penn State Behrend.

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<ul><li><p>BLACK SCHOOL OF BUSINESSP E N N S T A T E B E H R E N D</p><p>MAGAZINE</p><p>How the Black School of Business is bringing students, faculty, staff, alumni, and community members together to grow great ideas.</p><p>Cultivating Engagement</p><p>INSIDE:ProfessionalSkillsProgramLaunchedAlumniEngagewithStudentsBusinessTripsOpenEyes,Doors</p></li><li><p>2 BLACKSCHOOLOFBUSINESSMAGAZINE behrend.psu.edu/businessMay2016</p><p>MessagefromtheBlack School of Business</p><p>Engagement: The secret to elevating student success</p><p>To learn more about engaging with the Black School of Business, call 814-898-6107.</p><p>I ts been another phenomenal academic year for the Black School of Business. Our students are receiving top accolades like winning the Charter Financial Analyst Institutes regional Research Challenge competition in Pittsburgh and then advancing to the regional finals in Chicago to be one of the top 21 teams in the world. </p><p>Theyre preparing themselves to be successful business leaders through our new professional development programnow involving more than 400 of our students. Theyre turning their ideas into entrepreneurial ventures. And theyre being sought after by the top firms in the country, including Amazon, Ernst &amp; Young, and Lockheed Martin. </p><p>On a separate note, this year saw Penn States multi-campus iMBA, led by the Black School of Business, ranked 7th in the country by U.S. News &amp; World Report.</p><p>These achievements have been made possible by the contributions of manyfaculty members, staff members, corporate partners, alumni, advisory board members, and industry leaders. In short, it is the engagement of these partners that fuels our success. </p><p>In this issue of the Black School of Business Magazine, you will read how these diverse forms of engagement are having an impact on students and graduates. How alumni like Bruce Gray and Angela Hudak are contributing to student learning and professional success. How faculty are engaging with students in entrepreneurial ventures and the aforementioned Research Challenge. How corporate partners help to bring student experiences to life on the schools annual spring business trip.</p><p>I hope that you enjoy reading these stories and that they inspire you to engage with us. Please stay tuned for many more stories of student success in the futuremade possible by the engagement of so many committed partners.</p><p> Sincerely,</p><p>Dr. Balaji RajagopalanToudy Chair in Entrepreneurship and Innovation Director, Black School of Business</p><p>Balaji Rajagopalan</p></li><li><p>3behrend.psu.edu/business BLACKSCHOOLOFBUSINESSMAGAZINEMay2016</p><p>ON THE COVER</p><p>CONTACT </p><p>ABOUT</p><p>Faith Kindig and her daughter, Braya MSadoques, were photographed in the colleges Innovation Commons with Dave Causgrove, lecturer in marketing. Causgrove oversees the idea lab, which was designed to offer support and resources to budding entrepreneurs. Read more about Kindigs project and how the Black School of Business has been cultivating a culture of entrepreneurship on page 6. </p><p>The Black School of Business Magazine is published and provided free to alumni and friends of Penn State Behrend by the Office of Marketing Communication. Director: William V. Gonda, wvg2@psu.edu, Editor / Writer: Heather Cass, hjc13@psu.edu</p><p>Copyright 2016 Penn State Erie, The Behrend College. This publication is available in alternative media upon request. Penn State is an equal opportunity, affirmative action employer, and is committed to providing employment opportunities to all qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. U. Ed. EBO 16-295</p><p>Contents </p><p>Polishing Business Skills in and out of the Classroom . . . . . . . . . . . . . . . . . . . . . . . . . . . 4</p><p>Penn State Behrend Offers Finance Degree Online . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5</p><p>Cultivating a Culture of Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6</p><p>Spring Business Trip Offers Myriad Opportunities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8</p><p>Alumni Encourage Involvement with School . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10</p><p>Black School of Business 281 Burke Center 5101 Jordan Road Erie, PA 16563 814-898-6107 behrend.psu.edu/business</p><p>The Black School of Business offers students a high-tech environment with distinctive opportunities for learning, including nine bachelors degrees, three masters degrees, and a range of minors and certificates. The Black School of Business is the only school in the region accredited by AACSB International, the premier accrediting agency for schools of business worldwide. The school is also listed in U.S. News &amp; World Reports Americas Best Business Schools and the Princeton Reviews Best 296 Business Schools. Our mission is to educate and empower minds to learn, adapt, and reinvent businessthe right way. </p><p>8 10</p><p>5</p></li><li><p>4 BLACKSCHOOLOFBUSINESSMAGAZINE behrend.psu.edu/businessMay2016</p><p>EngagingStudentsinProfessional Development </p><p>Educating todays business professionals requires more than academic preparation. New graduates are expected to be knowledgeable not only in their area of study, but also possess and demonstrate other business skills in areas such as communication, leadership, networking, and civic and community engagement. </p><p>Employers want well-rounded individuals, said Laurel Brown, professional development coordinator in the Black School of Business. But its hard for students to know how to acquire these skills on their own, which is why we launched a Professional Development Program last year. </p><p>Using Suitable, an online professional development platform, students are encouraged to participate and document their activities that build their professional profile.</p><p>Participation is voluntary and free for students. They pick from a variety of activities at each level, such as joining a professional organization, registering to vote, participating in a class project, attending a cultural performance, or volunteering </p><p>at a nonprofit. As students complete each level, they can earn incentives from the school or </p><p>from local businesses like Erie Insurance, the Erie Sports Commission, </p><p>BKD CPAs and Advisors, and McCarty Printing. The partner businesses might offer a job shadowing experience, a plant tour, or maybe even gift certificates or scholarships. </p><p> As they complete more activities, students can improve their rank in Suitable. The top twenty are listed on the leaderboard on the home page, Brown said. </p><p>Currently, about 400 students are participating in the program, as are a dozen business partners who are, no doubt, keeping an eye on the leaderboard. </p><p>Maxwell DeBlasio, a first-year Finance major, is a student youll often find listed on the leaderboard. He says the program has helped him get involved on campus, meet people with similar interests and ambitions, and even given him a leg up in his major. </p><p>I havent taken any higher-level finance classes yet, but I have a better understanding of the field and the terminology used because I have attended finance-related lectures and guest speaker events, DeBlasio said. </p><p>His favorite Suitable activity so far? Becoming certified to use the Bloomberg Terminal because it is a critical source of business information and is used by business professionals all over the world, he said. </p><p>Black School of Business alumnus Troy Dean Shafer 04 is starring in Nashville Flipped, a new show on the DIY Network that shares the same name of Shafers home renovation business in Tennessee. </p><p>The nine-episode series, which premiered in April, follows Shafer and his team as they restore historic Nashville homes to their former glory.</p><p>In a 2013 interview with Behrend Magazine, Shafer said his Business Management degree has been a tremendous asset. </p><p>Every house is like a mini management project and thats where my degree has really helped me because it all goes back to the things I learned in college project management, finance, accounting, he said. I use those skills extensively. I have a great advantage over my competition because of that knowledge base. </p><p>Watch Shafer in Nashville Flipped on the DIY Network on Wednesdays at 10:00 p.m. EST </p><p>Developing professionals extends beyond classroom</p><p>Alumnus stars in DIY Network series</p><p>To learn more about Suitable or the Black School of Businesss Professional Development Program, contact Laurel Brown at ljb29@psu.edu or 814-898-6686. </p><p>Riya Anand, a first-year business student, is one of the top participants in the Professional Leadership Program and says shes found it to be an invaluable resource.</p></li><li><p>5behrend.psu.edu/business BLACKSCHOOLOFBUSINESSMAGAZINEMay2016</p><p>EngagingStudentsThroughWorld Campus</p><p>Finance degree now offered through World Campus</p><p>I already knew that Penn State was an exceptional institution but now I know World Campus is too.Andrew Hoverson World Campus Finance major</p><p>Andrew Hoverson, 29, is an enlisted Marine currently serving as chief instructor for the Marine Corps Security Force Close Quarters Battle School in Chesapeake, Virginia. Hes also a Penn State student majoring in Finance. </p><p>After eight years in the military, Hoverson said physical injuries prompted him to consider returning to college to train for a new career. Thanks to Penn States online World Campus, he didnt have to wait. </p><p>I wanted a challenging experience that would give me the knowledge and skills I need to succeed, Hoverson said. Penn State was the obvious choice.</p><p>A burgeoning interest in investing and financial planning made the Finance degree, which is administered by the Black School of Business, an easy choice for Hoverson, too. </p><p>Over the last eight years, Ive found myself utilizing more and more of my free time to research </p><p>financial markets and learn about investment strategies, said Hoverson. Having dislocated my shoulder fifteen times and dealing with various aches and pains associated with the life of an infantry Marine, finance looks pretty appealing for a career. </p><p>While Virginia to Pennsylvania may seem a wide gap to bridge, Hoverson said he feels involved and included. </p><p>I had a nagging fear that I might miss out on opportunities available to students on campus, but Ive been surprised at the effort put forth by the University to include World Campus students. </p><p>For example, Finance students studying through World Campus are invited to watch speaker events live on the Penn State Behrend Finance YouTube channel, and they have the same opportunity as a student in residence to ask questions of the speaker.</p><p>Soon, theyll be participating in the Black School of Business Intrieri Student Managed Fund as analysts. Hoverson is currently participating in a pilot project for the fund through Adobe Connect. He also serves as the vice president for the Financial Management Association and participates in monthly meetings via Skype.</p><p>Next year, World Campus students will be able to participate in the regional CFA Institute Research Challenge in Pittsburgh. All of this is an effort by the school to make engagement in co-curricular activities an integral part of the learning experience for World Campus students. </p><p>Hoverson, who plans to graduate in 2018 and wants to work as an investment banking analyst or portfolio manager, said the Finance program offered through World Campus has exceeded his expectations. </p><p>I already knew that Penn State was an exceptional institution, but now I know that World Campus is too, he said. Within the Finance major, Ive found people eager to include me in events and organizations in any way they are able. Its been a very fulfilling experience for me.</p><p>To learn more about the Penn State Behrend Finance degree offered through World Campus, visit worldcampus.psu.edu</p></li><li><p>6 BLACKSCHOOLOFBUSINESSMAGAZINE behrend.psu.edu/businessMay2016</p><p>Fostering a Culture ofEntrepreneurs are a national asset. Their innovations inspire and improve our lives, generate wealth and resources, spur new industries, and create jobs. Thats why Penn State Behrend is working hard to create an entrepreneurial culture that will inspire, motivate, and encourage new ideas and collaboration among students, faculty, alumni, and partners in the Erie region and beyond.</p><p>Most of the new jobs today are created by companies that are less than five years old, said David Causgrove, lecturer in marketing. With large U.S. companies closing or relocating overseas, its important that we have start-ups to fill that void. </p><p>The Black School of Business has made entrepreneurship a priority, encouraging the development of new idea generators through curricular changes, by forming partnerships with community resources, and by pairing business students with others who have the skills and resources to bring an idea to fruition. Today, would-be entrepreneurs even have a dedicated spaceInnovation Commons, an idea laboratory in Burke Center equipped with plenty of meeting space and resources like AutoCAD modeling programs, scanners, and 3D printers for prototyping. </p><p>The colleges efforts have begun to pay off. Wed like you to meet three of the entrepreneurs the Black School has helped nurture.</p><p>EngagingEntrepreneurs </p><p>Drew Lang</p><p>MBA student Drew Lang was up late studying for his undergraduate Biology degree at University Park when he realized he was missing some of his notes. In that void, he saw a business opportunity. I knew I couldnt be the only college student who had ever lost their notes or had to miss a class, he said.That night, he came up with the concept and business plan for an online company OmegaNotes.com that would offer </p><p>a platform for students to buy and sell notes. Students upload their notes and set the price. Potential buyers see a preview before deciding if they want to purchase the notes. Lang Enterprises takes a commission on sales.</p><p>Lang has been making use of the colleges new Innovation Commons and has engaged students in the Marketing Club to help him create a marketing strategy for the company. This spring, two Black School of Business undergraduate students worked as interns for Langs Omega Notes site. </p><p>Lang said his MBA coursework has been instrumental in helping him launch Omega Notes. I couldnt be happier with Behrends MBA program, he said. Ive been able to take a lot of what Ive learned and </p><p>immediately apply it to what Im doing with Omega Notes.</p><p>Eric Wehler</p><p>Eric Wehler 15 said the Black School of Business played an integral part in creating his businessStudentTrade.net. The website allows Penn State Behrend community members to exchange or purchase textbooks, appliances, furniture, and school supplies. The site also allows property owners to post and update student rentals.Think craigslist, but for students, said Wehler, who graduated in 2015 with a degree in Project and Supply Chain </p><p>Management and a minor in Management Information Systems. Its a service for the students and a way to help them save or make a little money.</p><p>The site started as a class project for Wehle...</p></li></ul>