Media Coverage

Technology hasn’t just changed the way consumers use goods and services, it’s also changed the way they own them. Music collections, for example, have evolved from hundreds of alphabetically-organized records on a shelf, to carefully edited digital libraries, to the 2021 version — a list of songs stored on Spotify or some other streaming platform. What consumers used to think of as “mine” is now “ours” in the sharing economy, where everything from car rides to books has become less of a coveted item and more of an experience.

But marketers know that there is value in psychological ownership. When customers form an emotional attachment or self-identify with a product, that sense of “mine” enhances its luster and keeps them coming back for more. As shoppers shift away from owning material things, how can marketers preserve these benefits? Some answers can be found in a new study, “Evolution of Consumption: A Psychological Ownership Framework,” which recently appeared in a Journal of Marketing-MSI special issue.

The study authors are Deborah Small, marketing professor at the University of Pennsylvania’s Wharton School; Carey Morewedge, marketing professor at Boston University’s Questrom School of Business; Ashwani Monga, marketing professor, provost and executive vice chancellor of Rutgers University-Newark; Robert W. Palmatier, marketing professor at the University of Washington’s Foster School of Business; and Suzanne B. Shu, marketing professor at Cornell University’s SC Johnson College of Business

Retail analysts are predicting a rise in post-pandemic retail therapy, focused on dresses, heels, and other going-out looks. For inspiration, look no further than the icons of revenge style: Tina Turner and Princess Diana, both in the zeitgeist again.

For Tina Turner and Princess Diana, their nemeses were clear, and the stakes were high to rebrand. But for those of us lucky enough to spend the pandemic schlumping in loungewear while working at home, who, exactly, are we getting revenge against? Ashwani Monga, a marketing professor at Rutgers Business School, has a response to that puzzle: “This is actually consumers taking revenge on themselves.” He went on to explain that in the philosophical framework of multiple selves, our “virtuous self” prevented us from spending during a year of sadness and economic depression. Prof. Monga continued, “Now suddenly when things are opening up, I’m like, ‘I need to exert myself and take revenge on my virtuous self, you’ve been too good all year, and so let me now take revenge on you. Let’s blow some money and get some good stuff.’”

The Critical Tax Theory Conference has a long history of fostering the work of both established and emerging scholars whose research challenges and enriches the tax law and policy literature. Critical tax scholars question assumptions of objectivity in tax, as their work explores how tax law and policy impact historically marginalized groups. At a time when tax policy is once again at the forefront of politics and public discourse, the work of these and other critical tax scholars supports a more robust discussion of the role for tax law in current and future social and economic policy.

Jay Soled (Rutgers), Exploring the Dichotomous Tax Treatment of Investment versus Trade Or Business Expenses Under The Internal Revenue Code

Target will spend a total of more than $2 billion at Black-owned businesses by 2025 as part of its effort to advance racial equity.

That’s a significant increase in overall spending on Black-owned businesses, according to Target, though it declined to be more specific Wednesday.

But Jeffrey Robinson, associate professor and academic director of The Center for Urban Entrepreneurship & Economic Development at Rutgers Business School said Target has the right approach, but the number feels “low” given the size of the retailer. For the fiscal year that ended Jan. 30, Target generated annual sales of $93.5 billion.

“I applaud them for making the commitment, but let’s see if they can exceed it,” he said.

The hysteria over NFT, digital collectible items that people can buy, sell or trade, escalated quickly as more people began to invest in nontraditional assets during the pandemic.

Their usage may soon grow as they make money transactions smoother, safer and more transparent, according to crypto and blockchain expert Merav Ozair, PhD, a FinTech faculty member at Rutgers Business School. The digital assets and tokenization specialist explains the crypto-jargon and how NFT could revolutionize certain industries.

The possibilities and applications of NFTs are far-reaching in terms of who can create and sell one and what NFT business use cases and applications will be created. The opportunities are endless for anyone to monetize their digital or virtual content via an NFT, whether it’s a photo of their puppy, video of cooking lessons or a photo with Magic Johnson. People can create additional income streams as long as someone is willing to pay for it. Thus, NFTs can democratize society.

If you’re looking for the cheapest car insurance for a teen driver, the most affordable way to cover them is to add them to the family policy, which can save families thousands of dollars per year compared to buying individual policies.

What features should teens and parents look for when shopping for a car, and how will this impact car insurance rates?

Both safety and anti-theft features may reduce the price of car insurance. For example, cars that have automatic braking, all-around airbags, and anti-theft GPS tracking devices may lower the price of car insurance offered by most providers.

John Longo, Professor of Finance at Rutgers Business School; Author of Buffett's Tips: A Guide to Financial Literacy and Life

As inexperienced drivers, students considered a greater risk to cause traffic accidents. In fact, according to the Centers for Disease Control and Prevention, motor vehicle crashes are the leading cause of death for America’s teenagers. This elevated risk leads to more expensive car insurance for college students as well as high school students. The good news is anyone can find cheap car insurance for students by researching car insurance coverage, getting personalized quotes and receiving all available discounts.

What factors should students consider when deciding whether to bring their car to campus or keep it at home?

If the student is attending college in an urban setting, there is less likely a need for having a car on campus. For example, most cities have pretty good mass transit systems, as well as a large number of Uber/Lyft drivers. Having a car on campus may be needed if a student is working off-campus in a suburban setting since alternate transportation options may be less plentiful and have greater downtime between pickups and drop-offs.

John Longo, Professor of Finance at Rutgers Business School; Author of Buffett's Tips: A Guide to Financial Literacy and Life

You’re not imagining things: The pandemic has made parent-child negotiation more intense. Experts share their tips for easing the tension.

In Charles Stella’s house, the battleground is dinner. It’s the one meal the family eats together and every day, he says, his daughters attempt to negotiate the terms. How long do they have to stay at the table? Which foods do they have to eat? Could they eat less of their vegetables tonight and more tomorrow? Would that still qualify them for dessert?

Stella has found himself mired in a Sisyphean process that will be all too familiar to many parents: negotiating with kids. Thought you’d established the rules or set the boundaries? Think again. You are in for many more rounds, which can range from reasonable discussion to impassioned pleas or outright whining. It all fits the definition if you “have different preferences and are trying to come to an agreement about them,” write Terri Kurtzberg and Mary Kern in their book Negotiating at Home: Essential Steps for Reaching Agreement with Your Kids. These sessions can vary in intensity, frequency, and the annoyance they create for adults (your kids may not be having any fun, either).

For more than a year, we’ve been wondering what work will look like when the pandemic ends.

But even more important than the organizational design and the tech tools of our hybrid world order are the hybrid skills we’ll need to develop wherever and however we’re working.

“Virtual communication, not to mention the experience of being in crisis mode, makes people more negative, more distracted, less willing to cooperate with others, less likely to share useful information, less trusting, and less willing to listen to new ideas,” write Daniel Levin and Terri Kurtzberg, management professors at Rutgers Business School.

EDITOR’S TAKE
Review: Discover it® Student Cash Back
The Discover it® Student Cash Back card is a good credit card for students with limited credit history, or even no credit score, who want to earn bonus rewards without paying an annual fee. Discover it® Student Cash Back gives 5% cash back on up to $1,500 spent per quarter in bonus categories that change, along with 1% back on all other purchases. Discover also doubles cardholders’ first-year rewards earnings after the first account anniversary. Earning good grades can get you a yearly bonus, too.

Do you think an annual good-grades bonus is a major selling point for a student credit card like Discover it Student Cash Back?

Marc Kalan, Assistant Professor of Marketing, Rutgers Business School
The value of a $20 good grades cash bonus is a great idea to give some value to students to reflect their efforts, however in today's economic environment $20 is a very minimal amount for students, especially college level where students generally choose their first "personal" credit cards, and therefore I would not believe this to be a significant factor in that decision. And who determines what are qualifying "good grades" and how are those received and evaluated. $20 strikes me as not reaching the level that provides enough incentive to stimulate that decision.

G. Christopher Crawford, PhD is Assistant Professor of Professional Practice of Entrepreneurship, Strategy, and Management at Rutgers Business School in Newark and New Brunswick. His research focuses on entrepreneurship and new venture growth, with a particular interest in studying how the largest, fastest growing companies develop and evolve. In recent work, he models the emergence of outliers – whom he brands ‘Rock Stars’ – as a universal theory for both academia and mainstream culture. Based on his research of more than 12,000 companies, he has developed the ‘Rock Star’ Theory: a conceptual framework that delves into the factors that drive the performance of the most successful individuals and businesses.

What company do you admire most? I most admire Deloitte because of their focus on people and their drive to innovate continuously. What drew me to Deloitte is they really emphasize well-being and flexible working to promote work-life balance. They also encourage better working teams through their workshops on Business Chemistry, which help to understand and emphasize the variety of personalities of people you work with. During my internship last summer, we were completely virtual, making networking and learning about the company challenging.

Still, I was blown away by how accessible and willing everyone was to help, no matter what their position. My recruiter recommended a couple of people and, from there, I was able to connect with so many people from various levels within a welcoming environment. At a time when social distancing creates a barrier to connecting with people, my virtual internship at Deloitte ended up being a significant networking opportunity. Furthermore, Deloitte dedicates a lot of resources to advancing technologies and continuously innovating. I’m so excited to be starting my career at a firm that is pioneering new technologies while putting its people first!

Who is your favorite professor? My favorite professor at Rutgers has been Anthony Taitt, who taught a Supply Chain Finance class that I enrolled in as a junior. Professor Taitt is fair, engaging, and thoroughly committed to the success of his students. He brings a wealth of experience to the classroom, weaves current events into coursework, and encourages students to think critically. It was a pleasure to study under Professor Taitt. I still think in terms of the frameworks he introduced to our class (cash conversion cycle, inventory turnover rate, float, etc.).

Lei Lei, Dean of Rutgers Business School, Rutgers University
An expert on supply-chain management, she oversees the education of the next generation of business leaders at the state’s top business school.

Buying a home represents an important milestone for most consumers. But for those who dive in to the deep end of real estate without a financial safety net, the decision could lead to buyer’s remorse in the long run.

In this report, WalletHub determined which cities are home to the most overleveraged mortgage debtors by comparing the median mortgage balances against the median income and median home value in more than 2,500 cities.

What are the most common financial mistakes people make when buying a home and which are most costly in the long-term?

If a borrower takes out the largest possible loan, they can qualify for based on their current income, it may leave them short of funds when it comes to emergency repairs and future capital expenditures.

David E. Frame, Ph.D. – Assistant Professor, Department of Finance and Economics, Center for Real Estate, Rutgers Business School – Rutgers, The State University of New Jersey

1. “Women, Power, and Promise” at the Newark Museum of Art

The Newark Museum has put together a slate of programs for this Women’s History Month event, with a keynote address by cosmetics mogul Bobbi Brown, an art performance by the Guerrilla Girls, and closing remarks from Lisa Kaplowitz, executive director of the Center for Women in Business at Rutgers Business School.

Price: $50 general admission
Time: 3 p.m.–5 p.m.

In this month’s video, we hear from Arash Azadegan, an associate professor of supply chain management at the Rutgers University business school. He discusses an article he co-authored with Arizona State University professor Kevin J. Dooley entitled A Typology of Supply Network Resilience Strategies: Complex Collaborations in a Complex World.

COVID‐19 has forced supply chain management researchers and practitioners to question many of their firmly held assumptions about the discipline. Perhaps the most interesting question is, where does supply chain management go from here? This article by Azadegan and Dooley is an attempt by the Journal of Supply Chain Management begins to answer that question via a combination of invited essays and a regular submission. Consider it a starting point.

For some, the stimulus checks represent a desperately needed financial lifeline, while for others, fortunate to be largely unaffected by the COVID-19 pandemic, it is an unexpected windfall. Those outside of the income limits who receive a stimulus payment may make their own assessment of the value of their tax dollars being used to fund the Act.

Here, for those who are receiving them, I offer some suggestions on how to triage your stimulus check(s).

Do Ethics Limit Business Success? Listen and watch the interview.

My enthrallment with history didn’t start until I met Mr. Ed Powers. Mr. Powers still teaches history where I went to high school and it’s he who lit the fuse. To this day – been a whole lotta days since – I still remember something he said during a discussion about the Vietnam War. To paraphrase, you can’t fight an -ism (e.g., Communism, Socialism, Capitalism, Buddhism, etc.). The -ism is an idea/philosophy/crutch utilized by people. So for me, any argument for/against an -ism is really about people.

How’s this relate to episode 2021:11 of Did You Know That? Christopher Young is all about people, specifically, the ethical actions of people in the business world. (Please hold all snarky comments until after the interview.) The world is made up of a lot of different -ism’s as they relate to business, which means there are a lot of people making business decisions on a second by second basis. We talk about how they’re making those decisions and how they can be better.

With every new year it’s important to take a step back, understand the emerging trends, and align our digital marketing strategies to take advantage of recent events.

2020 brought unprecedented changes onto society, and with both the maturation of social media and popularity of video and story-centric content, 2021 will continue to challenge marketers looking to improve their digital marketing ROI as newer technologies such as AI become more mainstream.

Rather than just post my own advice, which I will include at the bottom, I decided to ask many industry experts representing a variety of companies what digital marketing trends they are focusing in on the new year.

Hopefully some or all of this advice will resonate with your situation and provide you some insight on how to best pivot your marketing in 2021.

By: Lisa S. Kaplowitz, Kristina Durante, W. Brad Johnson, and David G. Smith

Too often, narratives about men’s engagement in gender diversity, equity, and inclusion (DEI) initiatives focus nearly exclusively on the benefits for women. For instance, efforts to compel male participation in gender DEI programs often focus on the business case (why advancing women is good for the company’s bottom line), the moral case (connecting inclusion with his sense of fairness and justice), the personal case (do it for your sister, daughter, or partner), and, of course, the well-documented benefits — professionally and personally — for the women who work with men.

Although each of these motivations to mentor, sponsor, and befriend women at work are both logical and evidence-based, together they create an erroneous impression that cross-gender collaboration at work benefits women alone.

This narrative — which paints men as entirely altruistic, selfless, even chivalrous for supporting women — is simply false. Yes, men are important to moving the needle on gender equity, but failing to capitalize on the myriad ways that men thrive in close relationships with women, especially relationships with underrepresented women, is a monumental missed opportunity in many ways.

Interaction on social media during an event increases our enjoyment in the moment and beyond.

The admonition to “Put your phone away!” while attending an event is universal.
Yet people persist in texting or posting on social media during experiences of every variety.
Our recent work indicates that these assumptions may not reflect how most consumers actually generate content during experiences. The concerns so regularly expressed by the popular media may be greatly overstated.

In our paper, “Generating Content Increases Enjoyment by Immersing Consumers and Accelerating Perceived Time”, published in the Journal of Marketing, Gabriela Tonietto (Rutgers Business School) and I found that those who generate relevant content during an experience enjoy it more than those who don’t.

Rudi Leuschner, program director of the Master of Supply Chain Management at Rutgers Business School, stresses that passion is equally as important as academic ability when studying supply chain management.

“The two most important factors for a potential candidate of a Master of Supply Chain Management are motivation and proof that they can academically handle the program,” he says.

Leuschner says that the supply chain management discipline has developed quickly and continues to do so — especially since the onset of Covid-19. “It’s important to stay engaged with the supply chain community, whether it’s through professional organizations or seeking educational opportunities. Learning just never stops, especially in the supply chain field.”

Operating since 2015, Rutgers Business School enrolls approximately 150-200 students in its supply chain management program with small, 20-person classes. While the Master of Supply Chain Management teaches timeless principles, such as procurement, operations, logistics, and forecasting, the school created an optional pop-up class to teach students how the supply chain is currently being affected during the pandemic, and how companies can face challenges during this difficult time. So far, the pop-up class has been the highest attended class yet.

“We actually had to remove caps from the enrollment system to let more people in. On average, between prospective students and alumni, there were around 70 students showing up live,” says Leuschner.

A year’s worth of economic and employment upheaval has left everyone — employees, communities and society as a whole — feeling anxious, concerned about our health, disconnected from colleagues and suffering other mental health challenges.

My research team at the Rutgers Institute for Corporate Social Innovation examined what the future of work may look like as a result of these new pressure points, and how companies can help build a healthier, more sustainable and equitable economy.

We identified five opportunities that businesses can take to “build back better” as we move into a post-pandemic normal.

We found that this last point — supporting a baseline level of mental health for employees, communities and society — is a foundation for all the rest. While there are benefits to working remotely, our current reality of 100% remote work is not ideal for brainstorming or the social interactions that make for an effective team.

1 year since we began this new normal

1 year since my role as CEO of the House took on new meaning

1 year since I’ve physically been on campus and taught inside a classroom

1 year since I’ve hugged any friends or extended family

It’s been surreal, yet it is so real. Over 500,000 deaths in the US alone. The impact to women and years of progress wiped away. The racial and socio-economic inequities magnified. The loss of jobs and closure of businesses. The loss of learning for the majority of children. The loss of social connection for almost all of us. Yes, I am sad. Yes, I am frustrated. Yes, there are days when I am downright mad.

Yet, I see some light, and while that may be because it is 70 degrees and sunny today in New Jersey, there have been some silver linings.

Known in the industry as "power buyers," large retailers have had an advantage for years when buying goods because they order larger quantities than smaller wholesalers do, said Rudolf Leuschner, associate professor of supply chain management at Rutgers University, who studies the relationships between suppliers and buyers.

It makes intuitive sense: Large retailers' scale and buying clout make them a top priority for manufacturers, he said, and they often get promotions, special packaging or new products early.

Manufacturers have to "give them the best service, the best on everything because they mean more to you," Leuschner said, comparing it to how airlines give perks to first-class fliers over customers sitting in coach.

I recently binged Netflix’s Bridgerton, a soapy depiction of London’s Regency era marriage market where high stakes debutante balls and cutthroat gossip abound as families compete to position daughters for a shot at an eligible bachelor. A young woman’s entire future hinges on this moment. Will she catch the eye of a wealthy man and have a secure future or is it a one-way ticket to shame and spinsterhood?

While the depiction of a do-or-die marriage market in Bridgerton teeters on farcical, the damage of not securing a partnership with a man was very real for women throughout human history, and the sting of not getting married is still alive and well.

During the podcast, Assistant Professor and Director of Master of Healthcare Analytics and Intelligence Xin (David) Ding comments on the production and distribution of coronavirus vaccines.

He says the Biden administration is relying on the Defense Production Act of 1950 to keep manufacturing on pace. The law allows the president to direct private companies to prioritize federal government needs.

DING: Basically, they are working closely with different pharmaceutical companies to boost up their production of vaccines.

President Biden is also encouraging pharmaceutical competitors to share manufacturing space and ingredients to speed up production. It’s called “coopetition.”

DING: For now, those pharmaceutical companies are working with the competitors to enhance the capacity. For instance, Pfizer is working with Santa Fe, and Moderna is working with Catalent. And Johnson Johnson is working with a Merk.

But getting everyone their initial vaccination might not be the end of this distribution challenge.

Dr. Jeffrey Robinson of Rutgers Business School named as research fellow

Filene Research Institute launches its Center of Excellence for Innovation and Incubation today and welcomes Dr. Jeffrey Robinson as its new research fellow.

"This is my life's work, what I've been doing, and what I want to do. I am interested in supporting an industry I admire—I got my first car loan from a credit union and I am a member of a credit union now," said Dr. Robinson. "As a researcher, I am interested in this work because I want to better understand and reveal deeper insights on how an industry like credit unions is reacting to social, technological and economic challenges, what kinds of business models are changing, how they are changing, who is changing them, and what kinds of innovations are coming out of these changes."

"Cooperative finance is not just a business model, it's a movement—and I like to be involved in movements that matter," he added.

United Airlines in October was the first domestic carrier to test a digital health pass for international travelers just as the race to vaccinate Americans against COVID-19 was heating up.

Rutgers University Business School Professor Wayne Eastman said pressure to broaden the use of digital health passes would intensify as companies market secure digital wallets that could develop into a universal standard for people to store proof of their COVID-19 status and quickly produce it.

“It is understandable they would want to set up some kind of system, but, when you do that, you create real concerns about a two-tier system in which some people are locked out,” Eastman said.

In the final months of 2020, Harvard Management Company sold its shares in multiple major technology companies, including Google’s Alphabet, Inc., and made new investments in others, like Microsoft, while maintaining portfolio growth from the previous quarter.

John M. Longo — a professor at Rutgers Business School and the Chief Investment Officer for the Beacon Trust — wrote in an email that the University’s new holdings in Microsoft and Salseforce are “excellent long-term prospects.”

“There are two new sizeable positions in HMC's public equity portfolio, Salesforce and Microsoft, with 11.2% and 9.9% portfolio weights at the end of 2020, respectively,” Longo wrote. “They are blue-chip software companies with excellent long-term prospects, so I wouldn’t be too concerned with their high weights.”

Advocates are pushing the city’s universities, hospitals, and large companies to buy from local Black and brown-owned businesses to boost the economy.

Similar efforts are underway in other cities. In Newark, N.J., anchors including Amazon’s Audible and Prudential Financial have collectively increased local spending from 3% in 2017 to about 14% last year, said Kevin Lyons, a Rutgers Business School professor who heads the city’s “Buy Newark” initiative. Lyons said he’s still working on an analysis of the impact of the local spending, but anecdotally he has seen suppliers boost revenues.

“In a handful of the situations, they’ve had to hire additional staff because this is probably one of the largest contracts that they’ve gotten,” Lyons said. “They want to make sure that they keep it.”

The February 2021 reading of the LMI suggests that the logistics industry has continued to expand through the beginning of the year. The February LMI reads in at 71.4, up (+4.2) from January’s reading of 67.2. This is well above the all-time average of 62.7, and significantly above (+18.8) last February’s reading of 52.6. Much of the increase in this month’s LMI are driven by increases in the rate of growth for price and cost metrics across the board.

The Logistics Manager’s Index (LMI) is a joint project between researchers from Arizona State University, Colorado State University, University of Nevada, Reno, Rochester Institute of Technology, and Rutgers University, supported by CSCMP. It is authored by Zac Rogers Ph.D., Steven Carnovale Ph.D., Shen Yeniyurt Ph.D., Ron Lembke Ph.D., and Dale Rogers Ph.D.

Companies are setting up programs to improve working capital and cut costs while disclosing few details.

Large manufacturers, such as airplane manufacturer Boeing Co., and other global companies, including soft drinks producer Keurig Dr Pepper Inc., are avid users of supply-chain financing to extend payment terms.

But there tends to be a barrier to entry for some businesses, especially those with weaker credit ratings. These ratings help determine the discount rate applied to the payment the supplier receives. The better the credit rating of a company, the cheaper it is for the supplier to participate in the program.

“Smaller companies have to just deal with the fact that their discount rates are fairly high,” said Rudi Leuschner, associate professor of supply chain management at Rutgers University.

Discover credit cards are known for generous rewards, 0% introductory APRs, no foreign transaction fees, and offers for applicants of all credit levels. Discover also is unique because it is both a credit card issuer and a card network.

Ask the experts: Arthur GuarinoAssociate Professor of Professional Practice, Rutgers Business School–Newark and New BrunswickArthur Guarino.
Discover does not currently charge annual fees or foreign transaction fees on any of their credit cards; how likely is that to last?

Probably not for very long depending on the value of the dollar on foreign exchange markets. If the dollar stays strong then there may not be any fees or foreign transaction fees.

Which do you think resonates more with consumers: an initial rewards bonus of a few hundred dollars for spending a few thousand dollars in the first three months, or a one-year anniversary bonus that doubles the rewards a cardholder earned the first year?

Probably the one-year anniversary bonus since it may take that amount of time for a cardholder to spend that much to earn such a reward.

After a near-death beating by the police in Los Angeles, California, in 1991 that sparked riots in which 63 people were killed and over 2000 injured, Rodney King famously asked, ‘Can’t we all just get along?’. This unfortunate incident occurred 25 years after the U.S. Civil Rights Act was passed, which itself was followed by riots—some called them rebellions—often sparked by police brutality toward unarmed Black men and women. Thirty years later, in Minneapolis, Minnesota, another killing by the police of an unarmed Black man, George Floyd, led to massive protests for social justice across the U.S. and even in other parts of the world. Between these two events, many unarmed Black men and women have been killed by the police, while inequality in wealth and income has grown, political polarization has become pronounced, and global crises have created constant threats. In this environment, both countries and companies are facing the challenges of people getting along, especially as populations have become more diverse with migrations of people from different races, ethnicities, and religions occurring on a grand scale.

The pandemic brought with it a number of unexpected economic surprises, among them a booming housing market in much of New Jersey, with low inventory and intense competition among buyers often leading to bidding wars; average home prices are at the highest level in state history.

Contributing to the competitive real estate market, says Morris Davis, the Paul V. Profeta Chair at the Rutgers Business School, is that millennials are reaching the age when they’re starting families and looking for homes. Correspondent Joanna Gagis reports.

Watch video

The University’s endowment growth for fiscal year 2020 is consistent with its peer institutions but falls slightly below the national average.

John Longo, a professor of finance at Rutgers University and the chief investment officer at the wealth management firm Beacon Trust, said universities’ endowment growth may be explained by factors like a strong governmental fiscal and monetary response to the pandemic as well as speedy vaccine development that happened toward the end of the fiscal year.

“If you told me that we would have the worst pandemic since the early 1900s and the world economy would have a deep recession, I would have been very surprised that most endowments wound up in positive territory,” Longo said.

One of the hardest parts of working remotely is losing the built-in social life an office environment provides. But just because you’re not in the same building as others doesn’t mean you’re doomed to be a hermit.

When friendships happen among colleagues, “people feel more engaged, turnover and absenteeism go down, we see better performance, people are better communicators, there’s even a link to innovation,” says Terri Kurtzberg, a professor of management and global business at Rutgers Business School and author of the book Virtual Teams: Mastering Communication and Collaboration in the Digital Age.

During the call or video chat, Kurtzberg encourages people to be vulnerable and share what’s really going on in your life. “Sometimes we aim for professionalism to the point where we don’t come across as human, and I think people like it better if you’re just a person,” she says. “Let people in a little bit to your world. It goes a long way in building connections.”

For several years, Rudolf Leuschner, Rutgers University associate professor in the department of supply chain management, has taught a class on risk mitigation. The 2021 course focuses exclusively on the pandemic.

Each week, guest speakers from different organizations virtually discuss challenges they've faced during the past year. Students break into groups to brainstorm potential solutions, and then the presenter discusses the approach the organization actually took.

When developing this version of the course, Leuschner and his colleagues "didn't know if 10 students or 100 students would attend," he says. As it turns out, enrollment was the highest it has been, at about 60. Most are current Rutgers students. They're joined by about a half-dozen alumni and several prospective students auditing the course.

Students say they appreciate learning firsthand the challenges encountered by supply chain professionals working through the pandemic.

Just as COVID-19 has altered supply chain organizations, it's also having a lasting impact on supply chain education.

Warren Buffett will no longer host business student groups in Omaha.

The decision, relayed by Buffett’s office to college professors who brought thousands of their students to visit Buffett in Omaha over more than two decades, noted that he will turn 88 on Aug. 30. The note to professors says Buffett “has decided to cut back on speaking engagements — especially commitments many months into the future.”

“We were sad to get the news,” said Rutgers University business professor John Longo, who has brought groups of students three times to the Buffett question-and-answer program and hoped to bring another group in 2019. “I guess it had to end sometime, but I’m sad it’s ending now.

Word of the decision has gotten to the students, Longo said. “There was some disappointment that we couldn’t go back, but I have nothing but fond memories of the experience, and I’m grateful for the trips we took. ... I hope he lives past 100.”

IIM Indore signed an MoU with the state university of New Jersey (Rutgers) for development of joint and dual degree programmes and
collaboration for student and faculty exchange.

IIM-Indore director Prof Himanshu Rai signed the MoU with Rutgers University academic affairs executive vice president Prabhas V Moghe and global affairs vice president Professor Eric Garfunkel.

He also welcomed Professor Ashwani Monga, Provost and Executive Vice Chancellor of Rutgers University-Newark on the International Advisory Board of IIM Indore, that has renowned academic and corporate leaders from around the world.

The Rutgers Center for Corporate Law and Governance launched its Fintech and Blockchain Collaboratory on February 19 with an event that involved nearly 40 participants, including leading law firm partners, counsel from major blockchain and fintech (financial technology) companies, former regulators, a representative from the World Economic Forum, and academics from American and European universities.

Besides leading the Collaboratory, the Rutgers Center sponsors a course on financial regulation and innovations. Professor Guseva co-teaches the course with Merav Ozair, associate professor and fintech faculty member at the Rutgers Business School. The instructors have invited several guest speakers and crypto-practitioners to share their expertise with the students.

Governor Phil Murphy today announced the appointment of members to the New Jersey Council on the Green Economy. The Council, which was established under Executive Order No. 221, will be overseen by the Office of Climate Action and the Green Economy, and serve to develop a blueprint for expanding the green economy and building a diverse workforce to support the Administration’s clean energy and climate goals.

“It is an honor to be asked by Governor Murphy to serve with the NJ Council on the Green Economy,” said Kevin Lyons, Associate Professor Supply Chain Archaeology, Rutgers University. “I am looking forward to contributing to the development of a comprehensive green economy strategy to support New Jersey’s clean energy future and the jobs that will be created.”

Report Illustrates How Credit-Based Pricing Perpetuates Economic and Racial Inequalities Impacting Millions of Americans

"We're at a pivotal point where things are going to be different," said Dr. Jerome Williams, Rutgers University Distinguished Professor. "Companies that continue to exploit and treat consumers unfairly, will eventually see consumers start to exit and voice their concerns. It's going to hurt the company, and sometimes it will hurt the company so much that it's tough to turn it around."

Fitchburg State celebrated Black History Month by holding a series of conversations referred to as Falcon Talks. These conversations were hosted by the Fitchburg State University’s Alumni Association. Yla Eason, an entrepreneur and Fitchburg State ‘71 alumna, put together a presentation concerning black images and black representation in toys and the media. She presented this information in a Google Meet on Feb. 11. Afterwards, a question and answer session was held so as to extend the conversation to the university community.

Rutgers Business School in New Jersey offers the Mini MBA in Digital Supply Chain, which is an executive education course. The majority of learners are leaders of organizations, or hope to become leaders.

The program currently covers ten topics across various parts of the supply chain, such as supply chain analytics, robotic process automation, supply chain finance and economics.

“Participants learn about what drives the supply chain of the future,” says Rudolf Leuschner, associate professor in the department of Supply Chain Management at Rutgers, adding that the curriculum has to change very frequently to keep up with developments in the sector.

Indeed, other courses in the Mini MBA now cover how the pandemic has affected supply chains and in particular, the importance of resilience. “Most customers have delayed payments to suppliers and there is a significant liquidity crunch affecting smaller and medium-sized suppliers,” explains Leuschner, adding that the economic disruption will continue even after the pandemic abates.

“This scholarship money will help make it possible for underrepresented students to attend Rutgers Business School, to study the field of supply chain management, and to consider many possible career paths,” says Lei Lei, dean of the Rutgers Business School. “We strive to promote diversity and inclusion across all of the academic programs within Rutgers Business School. The ability of companies like Gebrüder Weiss to create scholarships for underrepresented students helps us to achieve that and strengthens our efforts to cultivate professionals and leaders for the future business world.”

In the wrong hands, companies can have a progressive hiring policy yet they flatten out the mental diversity.

It's the mix of different ways of thinking and frames of reference that can be so potent for great work.

Professor Daniel Levin of Rutgers Business School asked more than two hundred executives to reactivate contacts who were relatively dormant.

Some were then asked to to get two contacts to give advice on an ongoing project, while others were asked to get advice from more active contacts.

Overall, they found the most valuable, productive advice came from the dormant contacts.

Why? Because these are the people less likely to share our worldview or think and work like us.

It's so easy to give into the comfort of folks who agree with you, who are easy to work with.

But easy rarely leads to great.

Despite the ongoing challenges of the COVID-19 pandemic, the President’s Task Force on Carbon Neutrality and Climate Resilience remains on schedule to deliver a climate action plan this summer that will lay out a path to reduce the university’s carbon footprint and help Rutgers and the state of New Jersey manage the risks of a changing climate.

“In the next few months, we will be choosing the building blocks of the climate action plan, establishing priorities and timing – what we can do right away, what can be done in two to three years, and what the university can do long range,” said task force co-chair Kevin Lyons, associate professor of professional practice at Rutgers Business School-Newark and New Brunswick and associate director of the Rutgers Energy Institute.