As we approach the end of the academic year, it is important for us to look back over our accomplishments. Faculty members reached new heights in expanding their research capabilities. Our ties with the local business community continued to grow. Students showcased their talents, dedication, and abilities. The progress during the course of this year exemplifies how the Nance College of Business continues to fulfill its mission.
Innovation continued to be a predominant theme. The Nance College of Business became involved with a project led by NASA to develop a renewable hydrogen re-fueling station and to research the potential of hydrogen as an economic driver for the region.
The Nance College of Business partnered with the Fenn College of Engineering to offer a course on the design and development of innovative consumer products. These projects are examples of how we engage students to apply their coursework to real world problems, allowing them to develop their career portfolios before they graduate.
In addition, we formally unveiled the Business Innovation Continuum, an interactive exhibit that leverages the rich history of innovation in NEO to encourage new entrepreneurial ideas, stimulate innovation, and increase the region's capacity to sustain innovation. We also published the first edition of Praxis, a publication focusing on management practices that provides business leaders in Northeast Ohio with knowledge that increases their capacity to impact their organization's effectiveness. Both Praxis and the Business Innovation Continuum are helping to drive the economic vitality and sustainability of the Northeast Ohio region.
Dr. Santosh Misra, Chair of the Department of Computer and Information Science completed a Fulbright fellowship in Zambia. Dr. Susan Storrud-Barnes, Assistant Professor of Strategy in the Department of Management and Labor Relations, was appointed as an editor to the prestigious Journal of Management.
Our outreach programs effectively assisted business professionals from the local area to expand their capacity to succeed in a changing business environment. Presented in alliance with FedEx and the U.S. Commercial Service, the GlobalTarget program is assisting 10 local companies in their efforts to become successful global enterprises. During this academic year, over 60 local companies benefited from GlobalReach seminars on import compliance, global market entry, and global supply chain excellence. The Noon at Nance lecture series, directed by Marketing Instructor Jim D'Orazio, presented a very successful series of interactive panel discussions on Creating a 'Wow!' customer experience.
During the year several students competed in academic competitions and programs with exceptional results. Our SHRM (Society for Human Resource Management) team placed first in the Ohio HR games. MBA students Nassera Saoud and Roberto Vicevich placed first in the Cleveland Clinic Solutions Competition. Our Student Managed Investment Fund (funded through a grant from the Key Foundation and the CSU Foundation) outperformed its benchmarks. These representative accomplishments reflect the quality of the instruction at Nance as well as the abilities of our outstanding students.
Looking back over the past academic year, we achieved many of the goals that we set in September. Our faculty, staff and students demonstrated the expertise that the Nance College of Business has to offer while providing value to our community. I congratulate you for a job well done, and I look forward to another great year.
As part of their integrative Business Practicum experience, the students in Dr. Granot's EMBA Class of 2009 worked with three local organizations, the Cleveland Clinic's Global Cardiovascular Innovation Center (GCIC), Case Western Reserve University's School of Dental Medicine, and the Cleveland Jewish News (CJN), to provide them with consulting services. The Business Practicum provides an opportunity to apply the knowledge gained in the classroom to actual enterprise problems. The students met with executives and key decision makers from all three organizations a month before the semester began, and under Dr. Granot's guidance have spent 4 months analyzing the clients' key issues, and prescribing strategic action plans for implementation.
The first team, consisting of Joe Iveljic, Jeremy Shorr, Helen Kyriakidis, Jessica Hendricks, Daniel Policard, James Schenker, and headed by Manish Bhatt, was assigned a project with the GCIC, which is partially funded by the State of Ohio, for the purpose of creating innovation and attracting innovative companies to Northeast Ohio. The GCIC asked the team to formalize an innovation process that starts with identifying a need and culminates with commercialization. Student examined best practices from other organizations and formalized a structured process that the GCIC can follow. The team's deliverables included clinical trials and a two day seminar to bring in physicians and clinicians to create innovative ideas.
The GCIC's current needs-gathering process is geared toward accepting and evaluating formal proposals. Implementation of the EMBA students' plan, which stresses a structured needs-capturing program, will enable the identification of future needs earlier, so that the GCIC can take a more proactive approach toward business development. The new process will lead to increased commercialization opportunities and ultimately, the creation of more jobs in Ohio. This process will also maximize the GCIC's efficiency in using valuable resources such as clinician time and state funding dollars.
Maged Argalious, Brent Burkey, Seona Goerndt (team manager), Paul Mucci, Don Pirc, Rick Sawyer, Parisa Talea, and Vishal Vyas provided consultation to the CWRU School of Dental Medicine. The CSU team was engaged to develop a marketing plan for the Case Dental Clinic to increase patient flow into the clinic by 20%. The team developed an integrated marketing plan which recommended both operational improvements and external marketing opportunities. The results of the plan were well received by the leadership of the Case Dental Clinic and plans are underway to prioritize the recommendations for implementation.
The Cleveland Jewish News group, consisting of Katherine Free (team manager), Padma Kallur, Phillip Epstein and Shaun Spencer, had the opportunity to delve into the struggling newspaper industry and determine what a niche paper such as the CJN could do in order to maximize its current resources. The CJN had recently restructured due to economic conditions so the EMBA team emphasized utilizing resources that were readily available to them at very little or no cost. Several options were suggested to the CJN including web-based solutions to connect with readers and increase brand awareness. Examples include Facebook, message boards, blogging, and RSS feeds. Additional solutions included pricing modifications and a re-evaluation of JStyle Magazine.
Ken has served as Vice President and General Manager of International Operations for Libbey Glass, Inc. since May 2003. During his tenure, he has repositioned Libbey Glass as a global force in its industry, opening new sources of sales and profit growth. Libbey Glass is now the 2nd largest producer of glass tableware in the world and the largest in the Western hemisphere. During Ken's tenure, he has been a principal force in changing the business from a slow growth company of $250 million in sales to $810 million in 2008. International operations is the fastest growing segment of the business in sales and profits.
Ken attributes this success to "taking a customer-centered business, operations and commercial approach and proving we can win in the international marketplace. American businesses are known for their greater attention to marketing, product and market development and service. We took those principles, considered and adapted to regional requirements, and applied them in our industry to a world-wide market."
Ken manages all operations outside North America. His scope includes commercial activities throughout the world, encompassing sales, marketing and distribution in 107 countries. He is most proud of "redefining and establishing the business of a proud, American company to a global business and giving the people of our company the opportunity to show the world market that we can compete on a global basis from Beijing, China, Monterrey, Mexico, or Leerdam, the Netherlands to Toledo, OH."
Ken credits CSU with providing him with the "development of strong financial and analytical skills and the ability to manage and balance work and marriage, while receiving a good education." When asked what advice he would give to current Business students, Ken responded, "take challenges in your career, don't fear new opportunities, be willing to change jobs to get the opportunity to expand your knowledge and broaden your perspective."
Ken graduated from Cleveland State University in 1980 with a BBA in Finance and graduated Cum Laude from DePaul University in 2006 with an MBA in Finance. He resides in Sylvania, OH with his wife of 31 years, Teresa. They have three children: Matthew (24), Kyle (17) and Anna (12). In his free time, he enjoys tennis, golf and running, citing having run the Cleveland Marathon as a personal high point. He also hopes to see the Cleveland Indians win the World Series in his lifetime. Ken is a member of the Nance College of Business Visiting Committee and a board member of Juvenile Diabetes Research Foundation, Northwest Ohio Chapter.
Andrea Gustafson, a senior student majoring in Computer and Information Science with a minor in Labor Relations, is this month's featured student. She maintains a 3.63 GPA and has a Co-op at Rockwell Automation as a Software Functional Tester. Andrea is the 2009 recipient of the Rotary Award for Excellence in Computer Science. In addition, she is the current President of Theta Phi Alpha sorority.
Andrea transferred to Cleveland State University at the start of her sophomore year from theRochester Institute of Technology, and during her time here she has worked hard to grow ademically and build her career portfolio. Andrea said that one aspect that has impressed her most about the Nance College of Business is the high quality of our professors, and the stimulating classes they provide. In particular, she has enjoyed taking Organizational Behavior with Dr. Dunegan and Database Concepts with Dr. Munakata.
Andrea has also enjoyed the opportunity to gain career experience. She has worked as a co-op for Rockwell Automation for the past two years. When asked what she liked most about her co-op experience, Andrea replied that it was the hands-on experience of software testing. Andrea advises current CSU students to get involved in an internship or co-op because it gives you an opportunity to explore a career field of interest before graduation. She plans to look for employment in the field of software development or testing after she graduates in December of 2009. Andrea's long term career objective is to earn a master's degree in computer or software engineering. She plans on returning to CSU to accomplish this goal.
Andrea is known by those around her for almost always wearing the color pink. She became involved with the Susan G. Komen Foundation after her grandmother passed away from breast cancer. In high school she participated in an event to raise awareness for breast cancer by wearing pink for a week. Since that time she has made an effort to incorporate the color pink into her wardrobe and life as much as possible to raise awareness for the need to find a cure.
Nance Celebrates 10 years in Monte Ahuja Hall and the Inauguration of the Business Innovation Continuum
On April 17th, 2009, the Nance College of Business formally celebrated its 10th year in Monte Ahuja Hall. Alumnus Monte Ahuja was honored for his continuous contributions to the college, and the donation that allowed for the construction of Monte Ahuja Hall. Over 100 attendees were present, including faculty, staff, alumni, and friends of the Nance College of Business. Mr. Ahuja spoke to those in attendance about the importance of the Nance College of Business to the local business community.
The Business Innovation Continuum was formally inaugurated during the event. The Business Innovation Continuum is a multi-media learning center for students, entrepreneurs, educators and civic leaders, which leverages the rich history of innovation in Northeast Ohio to encourage new entrepreneurial ideas, stimulate innovation and increase the region's capacity to sustain innovation. The installation also features some of the most successful and entrepreneurial alumni of the Nance College of Business Administration. Their biographies demonstrate the effectiveness of a Nance business education and provide inspiration to today's business students. Nearly all of the alumni honored in the Business Innovation Continuum were present, some traveling from out of state, showcasing the importance of the event.
Dean Scherer shared with the crowd the vision for future expansion of the Business Innovation Continuum. Alumnus Steve Kirk and his wife Joann have already made a leadership gift toward an Entrepreneurship component to be included in that expansion. Alumni from the Nance College of Business, who would like to get involved, and support the Business Innovation Continuum, should contact Anthony Pasiak, Director of Development and Alumni Relations at firstname.lastname@example.org or 216-687-2410.
Dr. Chenchu Bathala was recently appointed as the new Chair of the Finance Department, a position that had officially been held by Associate Dean Benoy Joseph, PhD. In describing his new position, Dr. Bathala said "my job as the chair of the finance department will be to build on our core strengths in curricular offerings and work with the faculty members to help achieve our objectives in finance education and scholarly activities. I see a great potential for enhancing educational experiences of our finance majors and their career opportunities by actively seeking the support and involvement of area employers and professional associations in advisory capacities and collaborative events," he added.
Dr. Bathala is known for his extensive contributions to research and teaching. He is a member of several professional organizations, including the CFA Institute, CFA Society of Cleveland, Financial Management Association International, and Southwestern Finance Association. Dr. Bathala serves on the editorial review boards of the Journal of Business Research, Afro-Asian Journal of Finance & Accounting, and International Journal of Social Entrepreneurship. In addition, he is the faculty advisor for the Students Managed Investment Fund (SMIF) at CSU.
Dr. Santosh Misra received a grant of $50,000 to develop a partnership program with Copperbelt University in Zambia. Cleveland State University is one of 20 institutions out of nearly 300 applicants to receive the grant funded by USAID (The U.S. Agency for International Development) and HED (The Higher Education for Development). The grant will be used to establish a planning program to develop a partnership with Copperbelt University to assist them in addressing regional and national economic development priorities. Dr. Misra recently completed a sabbatical at Copperbelt University and is aware of the challenges they face in trying to grow their academic programs. The grant will allow the Nance College of Business and Copperbelt University to develop a partnership to address these issues, and will help to establish a lasting relationship between both institutions.
The Nance College of Business recently honored some of its best and brightest with initiation into Beta Gamma Sigma and with the presentation of business scholarships. The Beta Gamma Sigma Induction Ceremony & College Honors Night was held at the Cole Center on April 17, 2009 to honor the new inductees and scholarship winners.
Beta Gamma Sigma is an honorary society formed in 1913 to encourage and reward scholarship and accomplishment among students of business administration. Election to membership in Beta Gamma Sigma is the highest scholastic honor that a student in business administration can attain and is reserved for those business programs that are accredited by AACSB International.
The following students were inducted into Beta Gamma Sigma (name and academic program):
A number of business students were recognized for their academic excellence through business scholarships established by various alumni, professional organizations, and civic or corporate organizations (name, academic program, and scholarship earned):
Undergrad Scholarship Recipients
Graduate Scholarship Recipients
Student fund managers of the Student Managed Investment Fund (SMIF), Shadie Andraos, Tanuja Devu, Adeel Khan, Joey Medina, Seth Woolf, and Anthony Zrim recently attended the Redefining Investment Strategy Education (R.I.S.E.) IX Forum, co-sponsored by the University of Dayton and United Nations Global Compact. Three additional fund managers who could not attend the conference include: Dan Jacobs, Daniel Policard, and J.K. Smith. Collectively these students have a portfolio of $250,000 under their management.
According to Dr. Bathala, SMIF's faculty advisor, "R.I.S.E. is the largest student investment forum in the world, bringing students, faculty and industry professionals together to discuss current topics and issues in financial markets and investment management." This year's keynote speakers included such high profile individuals as C. B. Bhave, Chairman, Securities and Exchange Board of India; Steve Liesman, Senior Economics Reporter, CNBC; John P. Surma, Chairman & CEO, United States Steel Corporation; and Durmus Yilmaz, Governor, Central Bank of the Republic of Turkey.
Nance student Tanuja Devu said, "The conference provided me with insight about how to analyze stock market information, allowing me to learn about the best ways to implement that information in my investment strategies." Shadie Andraos stated, "The conference provided us with a tremendous opportunity to network with other student investment fund managers. It hosted some of the top researchers, analysts, and financial experts from across the industry. Being a part of the conference helped me to recognize the level of knowledge I have acquired, and the quality of our program, as each presenter put forth topics which we had discussed in our classes and in the SMIF." Students interested in joining the SMIF course may contact Dr. Bathala at email@example.com or 216.687.4715.
Accounting students from the Nance College of Business participated in the United Way's "Audit Review Extravaganza" on February 28th. United Way of Greater Cleveland annually recruits the assistance of volunteers to conduct organizational assessments for the companies that it funds. This year the United Way of Greater Cleveland had an unusually large number of audits to conduct, so they recruited the help of Nance's senior accounting majors and accounting graduate students. Dr. Bruce McClain, Chair of the Department of Accounting, and Accounting Instructor Daniel Kaminsky organized the team of students to help with the audits. United Way of Greater Cleveland felt that the 18 CSU students who participated did an exceptional job, completing reviews on 32 audits in five hours. The project gave students the opportunity to apply their knowledge, gaining valuable experience. Students also had a chance to network with the CPAs from United Way as well as the other professional volunteers. The project was so successful that plans are underway to make the "Audit Review Extravaganza" a regular event for our Accounting students.
Nance students Nikki Mangano, Rachel Garcowski and Melissa Miller proudly represented the CSU SHRM chapter at the Regional HR Games Competition, held March 27-28 at University of St. Thomas in Minneapolis. Dr. Mary Hrivnak attended the competition with the CSU team, helping them with preparations before the event. Our team competed against 35 other institutions using a Jeopardy-style format to answer questions related to Human Resource management, such as labor relations, staffing, compensation benefits, and training. The team not only answered questions, but challenged other teams on answers that they knew were incorrect. The CSU team placed 8 out of 35; however, there was a discrepancy in scoring that is still awaiting resolution. The CSU SHRM team is pleased with their performance at the event, and felt that it helped prepare them for the PHR exam.
Seven student officers from the American Marketing Association (AMA) attended the International AMA Collegiate Conference held March 26-28 in New Orleans. Students Rhonda Asfour, Jessie MacCloy, Marco Milenkovic, Matt Murphy, Jason Ocepek, Caroline Walker and Russa Wenzel participated. The focus of the conference was on building marketing power. The students took part in many team building workshops and seminars, learning how to help the CSU AMA chapter grow. The CSU AMA chapter received an award for outstanding chapter communication this year at the conference banquet dinner. The skills the AMA officers gained from the conference will benefit their members and enable them to better serve the CSU community.
The Nance College of Business has become a sponsor of the American Journal of Business. The American Journal of Business has been in publication since 1986, and is sponsored by ten AACSB accredited business schools throughout the Midwest. The publication has a national audience of 2,000 subscribers, and only 25% of submitting authors become published. According to the American Journal of Business, its goal is to "give a voice to scholarly research both in academic and practicing business circles." Associate Dean Raj Javalgi is serving on the editorial board on behalf of the Nance College of Business.
As the host institution for NASBITE International, a professional organization for the global business community, The Nance College of Business and the NASBITE Board of Governors hosted the annual conference in San Diego, CA on April 19-22. The theme of this year's conference was "Making Waves: Trade Education for Change." The conference attracted over 150 professionals and featured three top notch keynote speakers, over 40 presenters. Presentations covered a wide-range of topics including: ethics in trade, leveraging strategic partnerships, creating a competitive advantage, grant management, and trade in today's economic climate, including two exciting panel discussions: Trade Opportunities in the Current Economic Crisis and Creating a Competitive Advantage Through Green Trade.
At the conference, NASBITE announced the launch of the Certified Global Business Professional (CGBP) Accredited Provider Program, which will certify qualified institutions to deliver the CGBP training. Nance will be one of the first of such institutions to offer the program. The success of the CGBP program was celebrated at the closing night luau where all those who have earned the CGBP credential were recognized. Thank you to all who helped to make the 2009 NASBITE International Conference such a meaningful and positive event.
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