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Marketing Department Newsletter, Winter 2014

Greetings!

Marketing Department NewsletterAs 2014 enters with the BIG CHILL, we are excited to share news from Fall 2013!

On the faculty front, we bid farewell to Subhash Jain, who received the American Marketing Association’s 2013 Significant Contributions to Global Marketing Award, and retired in December. We welcomed three scholars with expertise in digital marketing and analytics. Jane Gu, Ph.D, works in digital marketing and distribution channels; Jane is teaching New Media Marketing Strategies. David Norton, Ph.D., is a recent graduate from University of South Carolina’s Darla Moore School of Business; Dr. Norton’s research focuses on consumer behavior in the digital marketing environment; he is teaching Introduction to Marketing Management. Hee Mok Park, Ph.D., a recent graduate of the University of Michigan’s Ross School of Business, focuses on empirical modeling of marketing problems, and will be teaching Marketing and Data Analytics.

Our students continue to make us proud! Josh Lagan ’14 was named one of the Top 10 Student Sports Business Leaders, Caitlin Taylor ’14 shares her internship experiences in marketing and social media, and Pi Sigma Epsilon, our sales and marketing fraternity, hosted the 2013 Northeast Regional Conference!

Our alumni continue to be important partners! John Fodor, Executive Vice President of American Funds Distributors, Inc., Capital Research Management Company, was named our 2012-13 Outstanding Alumnus. John is our keynote speaker at the Department’s Student and Alumni Networking Reception on February 10(register at uconn.biz/mktg2014). We hope to see you there! We greatly appreciate the creation of scholarship funds for our students and gifts to the Marketing and Business Law Endowment for Excellence.

Each newsletter highlights contributions of our faculty. Please read more about Bill Ross award winning article, “Individual Differences in Brand Schematicity” and Robin Coulter’s recent work on the effects of automatic color preference on consumer choice. At the 2013 American Business Law Conference, our Business Law faculty were revered, “their research, teaching, and service to the academy makes the UConn business law faculty one of the most prominent cohorts in the discipline,” and Mark DeAngelis was again honored as one of four national Master Teacher finalists for the Charles M. Hewitt Master Teacher Competition.

Our best wishes for a happy and healthy 2014!

Best regards,

Robin Coulter

Robin Coulter
Department Head
Professor of Marketing
Marketing Department


UConn Business School Announces New Hands-on Lean Business Process Improvement Interactive Workshop

Hands-On Lean Process ImprovementThe UConn School of Business has announced a new 2-day workshop – Hands-on Lean Business Process Improvement, designed to provide individuals at all levels of an organization with a solid foundation for using Lean to help achieve operational excellence from the top-down and the bottom-up.

The workshop will be held on February 27 & 28, 9am-4pm, at UConn’s Graduate Business Learning Center in downtown Hartford. The cost of the 2-day program is $1,200.

“The Hands-on Lean Business Process Improvement workshop enables individuals to quickly and easily follow a common roadmap and use simple tools to improve business processes by eliminating waste and improving flow to enhance value for your customers and stakeholders,” says David A. Burn, Chief Statistician in corporate operations for Boston Scientific Corporation and workshop instructor.

The workshop format is highly interactive and relies on simulation and competition to challenge individuals and teams to quickly learn concepts and skills and to reinforce their learning using a low-tech, high-touch approach. Features of the hands-on program include: real-time simulation of business processes; fast-paced competition between teams; and interactive discussion of relevant examples.

At the completion of Hands-on Lean Business Process Improvement, participants will be able to identify waste and flow problems in business processes, and design and follow a structured roadmap toward improvement. In other words, workshop participants will be able to cut costs and increase efficiencies within their organization.

“Lean processing is particularly important for Connecticut companies where the cost of doing business is one of the highest in the nation,” adds Colleen McGuire, director of UConn’s School of Business in Hartford. “We plan to offer more of these timely, relevant workshops in the months to come in support of a stronger, more competitive Connecticut economy.”


New Online Accounting Certificate Program

Now accepting applications!

The UConn School of Business Accounting Department is pleased to announce the new online Accounting Certificate Program (ACP). The program is designed for non-accounting college graduates interested in obtaining a graduate certificate in accounting. The potential applicants are likely to be working professionals who want to acquire additional accounting knowledge and potential MS in Accounting applicants, who were not accounting majors and thus do not have the required prerequisite accounting courses, providing an attractive bridge into the MSA Program. The program will offer four comprehensive accounting courses; Financial Reporting I, Financial Reporting II, Federal Income Taxes, and Assurance Services over the fall and spring semesters resulting in the completion of the certificate in May.
For more information, see ACP Information.

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Quarterly Connecticut Economic Outlook Released

The Connecticut Center for Economic Analysis, led by Professor Fred Carstensen, released its latest Economic Outlook in mid-December.

Even while jobs are returning to Connecticut’s economy, the apparently encouraging seasonally unadjusted unemployment rate of 7.5% for 2013Q3 needs to be compared with the Seasonally adjusted (SA) unemployment rate of 7.9%. The improving unemployment rate is in large measure a result of declining participation in the workforce. Nearly 65,000 working-age adults simply stopped looking for employment since 2010Q2.

Continuing productivity gains often approaching (or even exceeding) 2% annually translate into no job creation unless the economy grows even faster. Even at the national level, job creation remains modest for this reason. Ironically, Connecticut’s strength in manufacturing, which typically delivers quite high productivity growth, is a concomitant of fewer jobs, and thus a challenge for job creation.

Full-time equivalents (FTEs) have risen 43,000 over the three years. With gains in FTEs and loses in the number jobs, the ratio of FTEs to jobs in Connecticut has risen, which can be an indicator of further job growth.

Read the Full December 2013 Outlook 


UConn Students Compete in 7th Annual Business Language Case Competition

On Friday, November 8, three students from the University of Connecticut traveled to Provo, Utah to compete in the Seventh Annual Business Language Case Competition at the Brigham Young University (BYU) Marriott School of Business. The three students were Sarah Scheffel ’14, a senior who is majoring in international business with a minor in Spanish, Akanksha Singh ’16, a second-year student studying finance and Spanish, and Jonathan Sanchez ’14 (CLAS), a political science major also in his last year. The team was accompanied by Kelly Aceto, Managing Director of the UConn Center for International Business Education and Research.

The competition was conducted in two categories: Spanish and Mandarin. All of the participants were non-native speakers of each language. The team from UConn participated in the Spanish competition, in which they had to read a case about Wal-Mart’s expansion into organics, create an executive summary and PowerPoint presentation, and answer ten minutes of questions all in Spanish.

Overall, the BYU competition was an incredible experience for the students who took part because it allowed them to showcase their business acumen and foreign language skills, sharpen their presentation skills for real-life global business situations, and network with international business professionals who served as judges and coaches, as well as the other participants. Other schools present at the competition were Arizona State University, University of Miami, Indiana University, American University, University of Nevada Las Vegas, University of Washington, University of Pittsburgh, Rutgers University, University of Pennsylvania, Utah State University, and University of Notre Dame. This is the first year that UConn has participated in the Business Language Case Competition.

The UConn team was sponsored by the UConn Center for International Business Education and Research (CIBER), which is one of the 33 CIBERs located in top business schools throughout the U.S. The UConn CIBER is mandated to increase the competitiveness of U.S. business in the global marketplace.


The Value of a Day’s Work: Panel Addresses Pay Equity

Women make up 48% of Connecticut’s labor force, and yet in 2011, Connecticut full-time working women earned just 78% of what their male counterparts earned, according to a research brief on pay equity by the Connecticut General Assembly Permanent Commission on the Status of Women (PCSW).Continue Reading


UConn EBV Program is a Community of Veterans Supporting Connecticut’s Economy

UConn’s Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) fills an important need both for the veteran population in that it provides access to entrepreneurial education and resources, and to the state in that it helps create economic vitality and businesses that create jobs.

A May 2011 study from the Small Business Administration Office of Advocacy revealed that 45 percent of veterans are more likely to take the plunge into entrepreneurship than people with no active-duty military experience. “I think there are several reasons why veterans tend to be more entrepreneurial, says Michael Zacchea ’12 MBA, EBV program manager, in a 2012 Hartford Business Journal interview. “First, in the military, they developed a bias for action, and a commitment to mission accomplishment. Veterans tend to network with other veterans, and tend to understand things like logistics and supply chains. Veterans have learned management and planning skills that lend themselves to entrepreneurial success.”

On Veterans Day in 2004, Zacchea nearly died while fighting with his unit in the streets of Fallujah, one of Iraq’s deadliest combat zones. Nine years later and retired from the Marine Corps, he has led more than 60 disabled veterans through the EBV program curriculum. “We believe that veteran entrepreneurship is part of the solution both for the current generation of 2.5 million Iraq and Afghanistan veterans, and for our economy both nationally and for our state. In Connecticut, there are more than 40,000 veteran-owned businesses, which account for 8% of the state’s GDP,” says Zacchea. “Veteran business owners create both economic and social value disproportionate to their size of the population.”

Learn more about UConn’s EBV program and hear feedback from participants in this video:



The Wall Street Journal Available to UConn School of Business Students & Faculty

The UConn School of Business is excited to announce that the Wall Street Journal’s premium digital products—including WSJ Online and smartphone and tablet apps—are now available to all business majors and School of Business faculty at Storrs, Connecticut and at regional campuses.

“In our continuing efforts to increase the business information literacy of all our students, we are pleased to be able to offer them this opportunity to keep abreast of all the latest breaking news in the business world,” says Larry Gramling, associate dean for undergraduate programs.

For over a century, WSJ has sustained a legacy of journalistic excellence and is the #1 most trusted newspaper for the 27th consecutive year, according to the Pew Research Center.

The Wall Street Journal provides students with:

  • Deeper understanding of current global news and probing analysis of markets, corporations, financials and technology.
  • A personalized experience through customizing WSJ.com to track companies and industries for class projects and interview research.
  • Access anytime, anywhere with WSJ online and tablet and smartphone apps.

“Having access to the Wall Street Journal gives students the opportunity to read what recruiters are reading—from a concise, reputable source,” says Bill Tracy, educational representative for the Wall Street Journal. “The mobile apps provide them with in-depth videos, interviews, and more than just a traditional news article,” he adds. “Nearly 90% of our student subscribers say that reading WSJ makes them feel confident and prepared.”


UConn’s CIBER Case Challenge Proposes Solutions to Real-World International Business Issue

From October 9-12, the UConn School of Business hosted students from universities across the globe to participate in a case competition to solve a real-world challenge.

Now in its third year hosting the CIBER Case Challenge competition, the UConn School of Business Center for International Business Education and Research (CIBER) has taken charge in its mission to increase the competitiveness of U.S. business in the global marketplace, as set forth by the U.S. Department of Education. This year’s competition brought together students hailing from 12 different colleges and universities located within the U.S. as well as higher education institutions as far away as Tokyo, Japan.

Kelly Aceto, managing director of the CIBER Case Challenge, led the event, proposing a challenging problem derived from the global business marketplace for which teams of students were required to envision a solution. The problem was kept secret until its official announcement at 9 a.m. on Friday, October 11, at which point the case was distributed. This year’s challenge? To determine if Gillette should bring its Guard razor into the U.S. market. “I have participated in several case competitions, and this one was very different not only because of the international nature of the problem, but also because everyone on our team had a different area of study, whether it was marketing, accounting, operations, or finance,” says Ningwei Li, a finance and economics major at the University of Maryland, College Park, who came in among the top three finalists for “Best Presenter” in the preliminary round. Each team was comprised of four students from four different universities, each studying a different business discipline.

Unlike traditional case competitions, the CIBER Case Challenge tasked students to demonstrate their ability to work in teams consisting of students from varying cultures and nations. Students first met their teammates virtually two weeks before arriving on the Storrs, Connecticut campus. To facilitate greater bonding within teams prior to the case distribution, students traveled to Mystic, Connecticut to participate in a series of team challenges set against the backdrop of Connecticut’s historical seaport. “My team had students from Italy, California, Arizona, and Rhode Island. I’ve never traveled out of the country, so this experience enabled me to make a lot of connections I wouldn’t have made otherwise,” says Joseph Bona, a management major at Bryant University.

On the third day of the event, students presented their case solutions to a panel of judges composed of international business executives from the local tri-state area business community. Presentations were evaluated based on content (60%) and presentation (40%), considering whether the students did their research, logically supported their conclusions, and whether those conclusions would realistically be accepted by management. “They [the presentations] exceeded my expectations,” says Phil Ferrari, CFO at Virginia Industries, Inc., one of the event judges. “The students were intelligent, cohesive, and desirous to do an outstanding job. Quite impressive.”

The evaluations of the judges held serious weight for the student competitors; only three teams advanced to the final round later that day. “It was hard work to differentiate between the groups as they were excellent,” adds Ferrari. “Groups like this will bode well for the future of business in the U.S.”

The finalists were announced at an awards dinner on Saturday evening, where they were presented with plaques acknowledging their accomplishment:

First Place

GianMarco Taverna, University of North Carolina
Ellie Lin, Purdue University
Margaret Wong, Bryant University
Ihinosen Dibua, Pittsburg University

Second Place

Dallin Shaner, Brigham Young University
Nicole Green, University of Connecticut
Sergio Alessandro Castagnetti, University of Trento
Ben Hsieh, University of Maryland

Third Place

Daisuke Honjo, Rikkyo University
Leah Gonzalez, University of North Carolina
Esther Buck, Belmont University
Josh Emmett, University of Connecticut

Best Presenter
Dallin Shaner, Brigham Young University

Best Q&A
Leah Gonzalez, University of North Carolina

“This experience has been amazing,” says Li. “Despite our differences, most, if not all, of the students are like-minded with how we approach school, career, and our aspirations – with an ambitious, positive attitude. That’s how we connected.” he says.

This year marks the first time that two UConn students have placed among the top three teams in the CIBER Case Challenge. “They were well prepared,” says Aceto. “Paul Borochin, assistant professor of finance at the School of Business, spent a lot of time with the students as they got ready to face the challenges of a case competition.”

In an ever-changing international business climate, the United States has public universities like the University of Connecticut to depend on to challenge their own students to work with students of different backgrounds and nationalities. UConn is one of 33 universities nationwide designated as national resource centers for international business, with UConn CIBER in existence since 1995.

For more information:

About CIBER
CIBER Case Challenge

Pictured: One of the student teams, awarded first place for teamwork during their excursion to Mystic, poses in the School of Business atrium: Raaheela Ahmed, finance and economics major at the University of Maryland; Mike Masso, finance major at the UConn School of Business; Mac Bellingrath, marketing major at Belmont University, and Johanna Kuehl, an accounting major at Manchester Business School.