From the Independent Press:
Hina and Manoj Bhavsar are Morris Habitat for Humanity homeowners living in Summit since last summer. Their home is a dream come true after emigrating to the U.S. from India and becoming citizens in 2008. They worked hard to make homeownership a reality and now, their son Rishikesh (Rishy) has surprised them by winning a much needed scholarship to help with his college expenses.
Rishikesh Bhavasar received a $1,000 scholarship from Heritage Bank’s Affinity program. Rishy is a junior at Rutgers Business School - New Brunswick. He is hoping to finish his degree next year and is presently interviewing at Deloitte for a summer internship.
Read full article.
Vice Dean Nancy DiTomaso appeared on HuffPost Live with Alyona Minkovski discussing a new report revealing that the percentage of African-American professionals in certain fields has not grown in 20 years. Among some elite professions, black senior executives, physicians, dentists and architects are a rare find. Participating in the discussion were:
From the Denver Post: Donald McCabe is a professor of management and global business at Rutgers University and the founding president of the International Center for Academic Integrity, the group that's leading the fight against cheating in higher education. McCabe recently surveyed more than 82,000 undergraduate and graduate students in the U.S. and Canada. He reports that more than 40 percent of students admit to working with others on a project when instructed to work alone and more than 33 percent admit to copying information from Internet sources without proper citations.
KPIs are often seen as a cure to what ails the online ad industry. During AOL's first-quarter earnings call in 2012, CEO Tim Armstrong discussed how he was trying to convince more advertisers to use them:
"The majority of our ad customers are running their display budgets off of KPIs (key performance measures like brand lift)," Armstrong told Adweek. "We need to reconnect brands to KPIs. We've sort of needed to shift from an older display model to a newer display model, and that’s something we’re working through."
Got that? It's time to reconnect with KPIs, man. Dive into that KPI goodness.
What are KPIs, you ask? The acronym stands for "key performance indicators." Like many phrases adopted by the online ad industry, it has a precedent. Every industry has its own KPIs. In retail, for instance, same-store sales are a KPI, while in the auto industry they might be inventory turns or manufacturing cycle times. "In every line of business there's some kind of metric that someone uses to gauge how they're performing and whether to judge success or failure," says Jing Suk, vice president and director of strategy and analysis at Digitas and an adjunct professor at Rutgers Business School.
(Professor Suk earned her MBA from the Executive MBA Program at Rutgers Business School and a bachelor's degree in Computer Science from Rutgers College.)
Up to a million Facebook accounts could be vulnerable to an all-too-simple method of email hijacking that requires no programming skills or computer expertise. All you need, it turns out, is patience and someone's expired Hotmail address.
So say security researchers at Rutgers Business School in Newark. The threat arises, according to Professor Panagiotis Karras and his co-authors, graduate students Tarun Parwani and Ramin Kholoussi, because Microsoft retires unused Hotmail accounts after 270 days of inactivity and reassigns the email addresses to new users who request them.
Quick! What does the acronym CSR stand for?
If you said “customer standard reaction” or “computer system reboot,” you’d be correct, technically.
However, CSR in business today stands for “corporate social responsibility.” No longer is CSR just for large public companies, and it’s not just your organization’s ethics or philanthropy.
Business authors Archie Carroll and Ann Buckholtz in their book “Business and Society: Ethics and Stakeholder Management” defined CSR as “economic, legal, ethical and discretionary expectations that society has of organizations.”
Most leaders are attracted to the guy or woman who seems confident and outgoing, unafraid in any situation or facing any challenge. They expect an extrovert to infuse any team with energy, to push ahead on projects and to motivate colleagues to do their best work. Meantime they have low expectations of anyone who appears neurotic, who seems withdrawn and too anxious to live up to their potential. Leaders expect neurotic employees to contribute little and to drag down colleagues’ morale.
Not true, says a new study by Corinne Bendersky, an associate professor at UCLA’s Anderson School of Management. In a paper called “The Downfall of Extroverts and Rise of Neurotics: The Dynamic Process of Status Allocation in Task Groups,” Bendersky and co-author Neha Parikh Shah, an assistant professor at Rutgers Business School, explodes stereotypes about how extroverts and neurotics perform on teams.
Rutgers University professor Nancy DiTomaso has an intriguing piece on the New York Times’ Web site. At first blush, “How Social Networks Drive Black Unemployment” might seem simplistic. A few times while reading it, “Well, duh!” crept into my head. But DiTomaso’s argument that “favoritism” is as much responsible for African American employment troubles as is “discrimination” is a more nuanced and complete look at the problem than I’ve seen before. It also holds an implicit lesson for blacks striving to get ahead.
“Getting an inside edge by using help from family and friends is a powerful, hidden force driving inequality in the United States,” DiTomaso writes. “Such favoritism has a strong racial component. Through such seemingly innocuous networking, white Americans tend to help other whites, because social resources are concentrated among whites. If African-Americans are not part of the same networks, they will have a harder time finding decent jobs.” She adds, “The mechanism that reproduces inequality, in other words, may be inclusion more than exclusion.”
The Washington Post
It's a startling statistic when you think about it: Unemployment for African Americans, which is currently at 13 percent, is nearly double the national average. Long thought to be the result of racial discrimination, Nancy DiTomaso, a professor of management and global business at Rutgers Business School, believes otherwise, stating that such high unemployment rates for African Americans has, instead, to do with favoritism.
In The Great Divide, the New York Times new series about inequality, she writes: "Such favoritism has a strong racial component. Through such seemingly innocuous networking, white Americans tend to help other whites, because social resources are concentrated among whites. If African-Americans are not part of the same networks, they will have a harder time finding decent jobs. The mechanism that reproduces inequality, in other words, may be inclusion more than exclusion."
How has social media played a role in all of this? Time and again Twitter has been highlighted for its stark divide across color lines, Black Twitter perhaps being its most notable subgroup. Could it be that social networks like Facebook and Tumblr, platforms meant to connect people, have in fact aided in creating greater disadvantages?
Nancy DiTomaso is a professor and vice dean of faculty at Rutgers Business School and joins us now from our bureau in New York. Nice to have you on the program today.
NANCY DITOMASO: Thank you very much.
CONAN: And I think it's important to point out, you say this is not done maliciously or maybe not even consciously.
DITOMASO: Well, it's certainly is not done in a way that people are aware of the impact of it. Although when I talked to the hundreds of people that I included within my study, almost all of them - albeit two of the people I talked - found 70 percent of the jobs that they held over a lifetime from having some kind of additional help from family, from friends, through someone either telling them about a job that otherwise was not public, using influence to help them stand out from the crowd or in some cases, actually, offering them an opportunity.
And yet, when I asked my interviewees what most contributed to their having the kind of life that they had, almost no one talked about the help they received. Instead, they talked about how hard they had worked, how motivated they were, the education they'd received. So there was a big gap between the amount of help that they'd received and how they thought about what had happened in their lives.
It is corporate earnings season and activist shareholders will demand their CEOs demonstrate how corporate social responsibility programs benefit them.
Even after 40 years of corporate social responsibility, many still believe it reduces shareholders' profits. But Milton Friedman's description of corporate social responsibility as "hypocritical window dressing" only being acceptable if it "cloaks self-interest" is wrong.
Research by Michael Barnett, vice dean of the Rutgers Business School, demonstrates that firms with the highest corporate social performance have the highest financial performance, as long as they establish credibility with stakeholders by making a commitment to social investments over time. Other research shows companies active in social responsibility experienced greater employee satisfaction and retention rates, a stronger relationship with outside stakeholders and a greater ease of doing business with potential partners who see a company as being good.
The New Jersey Needs You gathering probably had the biggest number of Garden State cheerleaders, among them Mark Savino, who works at Northwestern Mutual Life Insurance Co. and grew up in Lawrenceville, New Jersey, and Joseph Gasparro, who works at Bank of America Merrill Lynch and has an MBA from Rutgers Business School.
"My goal is to open up all the secrets to getting a job and building a career after college,” Gasparro, a co-chairman of the Young Leadership Board said. “How to interview, what to wear -- we also buy them a suit.”
Rutgers Business School's successful track record of placing MBA students in jobs three months after graduation earned it a ranking among the top 20 business schools in the country for post-graduation employment, according to U.S. News & World Report.
The ranking reflects the success of the MBA Office of Career Management's efforts to help students land full-time jobs within 90 days of graduation. In 2012, 93 percent of the students in the Traditional Full-Time MBA program were employed within the 90-day, post-graduation period. Rutgers Business School landed at No. 18 for post-graduation employment in U.S. News & World Report's latest ranking of top business schools in the U.S.
For the first time, U.S. News & World Report recognized the Supply Chain Management MBA concentration at Rutgers by ranking it No. 20 in the nation this year.
Professor Jerome Williams from Rutgers University in New Jersey, US, said behavioural targeting, through which advertising is tailored to the individual, was being used by the food industries to complement mass marketing.
“I really believe in the future, you’ll be walking down the street and you’ll look into a window and there will be an ad directly targeting you based on all your purchases in the past six months. That’s the direction we’re going in.”
Ms Martin said there were currently no restrictions on junk food advertising aired during popular children’s programs on TV, the medium which she said was still the “cornerstone” of advertising.
Well, the notion of a tale of two truths, I think, is a very good characterization. In the research that I've been doing, I didn't start out looking at the issue of jobs, but it soon became a very key part of what I was trying to understand, which was basically why it seemed to be that all of the people in my classes, most of whom were white, believed in civil rights, was against discrimination, thought equal opportunity was the standard for fairness, thought people should be rewarded for their effort. And yet we still have racial inequality, so I was trying to understand that gap.
So I started the research in trying to understand the life experiences of people like those in my classes and how they came to understand issues of inequality, particularly racial inequality, and the issue of jobs became a very important part of that. I got detailed job histories, starting with high school to the time I did interviews with people in three parts of the country, and one of the startling things that I found was that 99 percent of the people that I talked to got 70 percent of the jobs that they held over their lifetimes with getting some kind of help from family, friends, acquaintances, in terms of getting inside information, having someone use influence on their behalf or someone who could actually offer them a job or an opportunity.
And when you have almost every job that people get over their lifetimes with that kind of inside help, it raises questions about what actually is the job market if most jobs, in fact, are not available to just anyone out there, but is available to primarily someone who has an inside edge.
Also featured on PR Newswire
Interactive discussions with experts to make business case for corporate social responsibility, offer advice to companies, nonprofits and students
The Rutgers Institute for Ethical Leadership (IEL) will host its fourth annual Ethical Leadership Conference bringing together business and academic leaders in corporate social responsibility (CSR) to share lessons learned and help attendees work through challenges in starting and developing CSR programs.
"Ethics in Action: A Conference on Corporate Social Responsibility" will be held April 19 from 9:00 a.m. - 4:00 p.m. at the Newark Museum (49 Washington Street, Newark, NJ), near the Rutgers campus in Newark.
The unemployment crisis always opens up room for debate.
Author Nancy DiTomaso said the way we inform our friends about work creates an unemployment divide between blacks and whites. According to DiTomaso, whites unconsciously hoard and distribute advantage inside their almost all-white networks of family and friends and this may be one of the factors why the February unemployment rate was 6.8% for whites and 13.8% for blacks.
DiTomaso, author of “The American Non-Dilemma: Racial Inequality Without Racism” said racism and inequality have shaped the labor market.
DiTomaso said outside of work, few whites actually associate with non-whites . As a result, when a position opens up, a white person may tell his or her friends and family members looking for work but a majority of them are white.
Her research comes from 250 interviews of working-class and middle-class whites over about a decade in Tennessee, Ohio and New Jersey.
I'm sure her study has some validity especially if you look at a city such as Milwaukee with it's hyper segregation. Diverse neighborhoods are stronger neighborhoods. You learn from people who don't look like you. It just makes sense.
Although Dental Health Associates CEO and President Dr. Clifford Lisman jokingly describes his approach to business as "winging it," he is taking steps to enhance his knowledge while working to improve the acumen of his staff. In 2012, Lisman began an executive MBA program at Rutgers University. "I've spent considerable time studying business on an informal basis for years, but I'm now looking to supplement my life experience with more formal experience in terms of business management," he says.
There's a comforting-to-white-people fiction about racism and racial inequality in the United States today: They're caused by a small, recalcitrant group who cling to their egregiously inaccurate beliefs in the moral, intellectual and economic superiority of white people.
The reality: racism and racial inequality aren't just supported by old ideas, unfounded group esteem or intentional efforts to mistreat others, said Nancy DiTomaso, author of the new book, The American Non-Dilemma: Racial Inequality Without Racism. They're also based on privilege, she said -- how it is shared, how opportunities are hoarded and how most white Americans think their career and economic advantages have been entirely earned, not passed down or parceled out.
Getting a job is increasingly about who you know — and that’s making the playing field less even for African-Americans. In a new study published by the Russell Sage Foundation, Nancy DiTomaso, a professor of organization management at Rutgers University, says “hidden” forms of racial inequality tied to seemingly innocuous things like networking are holding black job-seekers back. In a 21st century workplace where hiring is increasingly based on personal connections and internal employee referrals, African-Americans are at a disadvantage — since they don’t have as much “social capital” and aren’t as connected to networks that can help them land good jobs.
Much progress has been made on racism and its economic effects. A recent paper by economists Betsey Stevenson and Justin Wolfers found that gaps in subjective “well-being” between blacks and whites have shrunk over the past three decades.
There’s nothing illegal about giving a hand to a friend or family member who’s looking for a job. But when whites do it for other whites, blacks get stuck on the outside looking in. Most blacks still lack the networks to boost them into the kind of good jobs that whites take for granted.
That, in a nutshell, is the conclusion of a forthcoming (April 2013) book called The American Non-Dilemma: Racial Inequality Without Racism. It’s by Nancy DiTomaso, a professor of organization management at Rutgers University in New Jersey.
Today DiTomaso spoke on a conference call with reporters that was sponsored by the Russell Sage Foundation, the book’s publisher. Three other experts joined her.
Nearly half a century after the Civil Rights Act of 1964, which banned discrimination on the basis of race, ethnicity, national origin, religion, and gender, straight-out racism has become rare in the U.S., DiTomaso says in American Non-Dilemma.
The question is, why does the racial divide in employment remain stark? To find out why, DiTomasso conducted 246 interviews with working-class and middle-class whites in New Jersey, Ohio, and Tennessee. The vast majority believed in civil rights and equal opportunity. But they also believed in helping out their friends and family members—who for the most part were also white. DiTomaso’s conclusion, she said today, was that in hiring, “the favoritism of whites towards other whites may be more important than the discrimination of whites towards racial minorities.”
It’s a common workplace practice: Recommend a friend or former colleague for a job and collect a handsome bonus.
But a Rutgers University management professor finds that such referral programs actually cut off opportunities for minority candidates. Nancy Di Tomaso says that corporate America could actually be undoing gains in workplace diversity.
The problem is access and information, and cronyism raising barriers to employment for US Latinos and African Americans, Di Tomaso says. Her new book—called The American Non-Dilemma: Racial Inequality Without Racism—relies on almost 300 in-depth conversations with individuals about their careers. (DiTomaso did not research company referral programs, though she has looked at corporate policies and practices on promotions in the past.)
Some 99% of the 270 whites interviewed relied on information, influence or direct hiring by family, friends or acquaintances to help land a job—men more often than women. Interviews with blacks showed they tried their networks too, but were more likely to land jobs through public programs or equal employment opportunity initiatives, Di Tomaso says in an interview with Quartz.
Rutgers business school professor Nancy DiTomaso, author of the new book The American Non-Dilemma: Racial Inequality Without Racism, told The Hollywood Reporter that the project-based and who-knows-who nature of the entertainment industry accentuates the difficulty that diverse writers have in breaking into established networks.
“It is not just a friendship network, but one that is often based on neighborhood, race/ethnic or religious groups, people who went to the same school, attend the same church, who are associated with the same institutions and so on,” she said. “The impact of networking in this field and others is the perpetuation of inequality and often the opportunity for some people to build skills that others are denied.”
Rutgers Institute for Ethical Leadership (IEL) at Rutgers Business School has been awarded a $2.6 million donation from Prudential Financial, Inc. and The Prudential Foundation. The support allows the IEL to continue serving nonprofit organizations, students, and business leaders with programs that reinforce the importance of ethical leadership.
Last year, more than 3,000 students and business and nonprofit leaders benefited from IEL programs, events, and resources. The IEL combines academic research with practical training to strengthen current leaders and to prepare tomorrow's leaders for the complex ethical challenges they will encounter. The IEL also continues its ongoing capacity building and training with the leaders of nonprofit organizations in Newark and the surrounding areas contributing to the health and vitality of the community.
The $2.6 million contribution includes a $850,000 three-year challenge grant from The Prudential Foundation. Each dollar of new and increased money the IEL raises will be matched by the Foundation with two dollars of support. The Prudential Foundation has made more than $1.5 million in grants to IEL since 2004 when it provided startup funding to create the Center for Nonprofit and Philanthropic Leadership at Rutgers University. IEL was created from that organization in 2008 with funding that was included in a $5 million Prudential contribution to Rutgers University.
From The New York Times:
A study of New York State’s tax from 1932 to 1981 by Anna Pomeranets and Daniel G. Weaver found that it increased the cost of capital for investors and reduced trading volume. Most important, they found the tax actually increased trading volatility by as much as 10 percent.
Increasing volatility is exactly what advocates of the tax don’t want. They want volatility reduced to prevent market disruptions, but the decline in traders in the markets mean fewer buyers and sellers and more price jumps. This finding of increased volatility is in general accord with nine other major papers to study this issue, including studies of the tax in 23 countries, among them Britain, Sweden and Japan. Only one of these papers found that a financial transaction tax reduced volatility.
The New York State tax experience raises a bigger issue — that of traders just going elsewhere. This problem was mirrored in Sweden.
George Amick’s NJ.com article of February 11, 2013, captioned “No help from state for ethics oversight” concludes that Hamilton Mayor Kelly Yaede’s heart was in the right place in trying to obtain state assistance in overseeing the city’s ethics program. I agree that having an “independent” ethics oversight function is important, with the emphasis on “independent.” However the overall state of government ethics programs, to the extent they aspire to foster an ethical culture, is significantly wanting. Let me explain and propose a solution.
Government ethics programs are centered around a body of rules geared to prevent conflicts arising from personal financial interests and official duties. Indeed the mantra of the United States Office of Government Ethics is: Preventing Conflicts of Interest in the Executive Branch. Employees are encouraged to comply with the various ethics requirements mostly through the threat of administrative sanctions. Official oversight bodies, public interest groups and the news media also play a vital role in this process.
Published by Amtrak for the Acela train line, the magazine for Northeast business & leisure travelers. Also at ARRIVEMAGAZINE.com.
Professor Farrokh Langdana was featured in Arrive, Amtrak's magazine for the Acela northeast train corridor. "Once the economy gets traction, because never in history have we printed so much money without inflation, we will need to suck the money back in, or we will see inflation. It's like toothpaste - once out of the tube, it's hard to get back in," says Langdana in interview. See article.
The Provident Bank Foundation recently donated $2,500 to the Rutgers University Foundation to support the Institute for Ethical Leadership at Rutgers Business School and its “Leaders Common Ground” program. The grant will cover two scholarships for the program as well as general expenses.
“We are most grateful for The Provident Bank Foundation’s support and look forward to using the Leaders Common Ground program to positively affect the long-term development of nonprofit leaders,” said Sandro Tejada, development director, Rutgers Institute for Ethical Leadership.
The Leaders Common Ground Program brings 10-12 nonprofit senior executives together for monthly peer group sessions to mutually explore challenges they face as leaders of nonprofit organizations. The sessions are moderated by an Institute for Ethical Leadership facilitator, who leads participants through a discussion of real life issues of governance, board and staff relations, ethical leadership, strategic planning, fundraising skills, financial management skills and program development and management. In the seven years of the program’s history, more than 50 participants have benefited from the program, many of whom have participated for two or more years.
Nancy DiTomaso, a professor and vice dean for faculty and research and professor of management and global business at Rutgers Business School of Newark and New Brunswick and author, says that equality in the workplace is often obstructed by Whites’ favoritism for other Whites during the hiring process — even by those who claim to support equal opportunities.
As a result, minorities are boxed out of the job market, which is a major reason for the unyielding unemployment rate among Blacks.
According to DiTomaso, the aforementioned racial bias calls in to question whether there is a meritocratic, skill-based job market in the United States.
DiTomaso’s conclusion is based on her book, “The American Non-Dilemma: Racial Inequality Without Racism,” where she interviewed 246 randomly selected middle-class White people in Tennessee, New Jersey, and Ohio.
“Without Racism” revealed that economic racial disparities are fostered by explicit racism that plays out in everyday events, such as networking and institutionalized racial bias, which is endemic in the jobs market.
Transaction taxes result in more volatile markets, wider bid-ask spreads, greater market impact, and a decrease in volume. Those are key findings of a recent study conducted jointly by the Bank of Canada and Rutgers University into the impact of a transaction tax administered by the State of New York until 1981.
Anna Pomeranets, an analyst with the Bank of Canada, and Dan Weaver, a professor at Rutgers, conducted the study, “Security Transaction Taxes and Market Quality,” in light of movement on both sides of the Atlantic to adopt trading taxes. Both European and U.S. politicians have pushed for trading taxes, arguing they would raise revenue and dampen speculative trading activity.