Archive for the ‘Global Business’ Category

The Power of Continuous Education

Thursday, May 30th, 2013

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Do you take time to keep yourself sharp? I often hear about strategies to “improve your business, improve your process, improve this, and improve that.” Enough about the process…what about you? What can you do to improve you? Think about how much the business world has changed over the last few years. When I started in business, computers were just emerging, there were no laptops, and cell phones were bigger than your head. Yes, it’s ridiculous to think about, I know. And even if you’re just recently entering the business world, technology marches on. As everything changes around us, if we don’t grown and also change, we’ll be left behind. So, what can you do to keep yourself continually educating? Here are just a few things that I’ve run across throughout my career, and found to be incredibly helpful.

Go back to school. If you can make the time commitment, consider going back to school. I had the benefit of completing my MBA right after my undergrad. While I was excited about this accomplishment, the down side was that I had no real world experience to apply my learning toward. I learned many things, but not to the extent I would have, had I pursued a similar path now. If you are interested in learning more about a particular topic or industry, and you have the time and financial ability, nothing says “continuous education” like going back to school.

Take a technical class. If you find yourself with limited time or resources, this is a great way to keep your mind and skills fresh: take a technical class. (I kind of learned Excel in an 8-hour session. Don’t tell.) There are many local colleges or community centers that offer a variety of classes that can keep you up to speed in our ever-changing business environment, especially in the digital space!

Start networking more. Go to a networking event and get out of your comfort zone. If you’re more introverted, this can difficult task, but there are plenty of great articles out there on how to make this an easier process. I promise, it’s not so bad. Make a commitment to yourself that when you go to a networking event, you are going to learn something. And make note of one very important thing…it’s patio season, people, and we live in Minnesota. Take advantage of it!

Get involved in a peer group. One of the things I’ve done over the last couple of years is get involved in peer group meetings. If you think you have things all figured out…it’s likely you don’t. Somebody always does it better. In a peer group, you can learn best practices from some who has “been there, done that.” If you think you have unique problems that no other business or business person has encountered, a peer group can be helpful by not only giving suggestions, but sometimes it’s also just nice to know that you’re not alone when encountering a problem in your career.

These are just a few suggestions that have been helpful in my career. While there are many other things you can do, the main piece of advice is this: Consistently engage yourself in activities that will keep you sharp, and growing professionally.

 

Written by,

Chris Ohlendorf

Chris Ohlendorf is the Chief Talent Officer at Versique Executive Search and Consulting, and McKinley Consulting. He can be reached at cohlendorf@versique.com.

 

 

The Weigh-In: Why Does Cyprus Matter?

Wednesday, April 17th, 2013

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The European Union is once again facing a significant financial crisis as Cyprus has pushed Greece, Portugal, Italy and Spain from the headlines. How can such a small country – with fewer than one million citizens – have such a large impact on the global economy? The answer is complicated, much like the March 25 bailout agreement between the troika – the European Union, the International Monetary Fund and the European Central Bank (ECB).

The agreement with the Cypriot government paves way for Cyprus to receive a €10 billion bailout. In return, Cyprus has agreed to downsize its large financial sector and undertake a macroeconomic adjustment program that will require fiscal consolidation, structural reforms and privatizations (among other concessions). In return, the ECB will continue to provide emergency liquidity assistance to Cyprus banks.

Read the rest of this post in the UST Newsroom

Lalith Samarakoon is professor and chair of the Department of Finance in the Opus College of Business. As a financial economist, Samarakoon has two decades of advisory experience in financial sector reforms and development, and public debt management. He teaches Global Finance Issues and Policy: Eurozone Debt Crisis.

Employment Outlook: U.S. Employers Report Steady Hiring Pace

Thursday, April 11th, 2013


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As of December of 2012, Minnesota’s unemployment rate was at 5.2 percent, more than 2 percent lower than the national average, and that of most countries.  Minnesota’s unemployment rate is nearly half of what it was in 2009.  This is a positive sign the economy is on the mend, but companies are still treading with caution.  Manpower conducted their annual employment outlook survey last month and concluded that employers are still hesitant to increase their hiring quota.  Employers are still seeking a sustainable growth trend in the economy before labor markets follow pursuit.

“In the Americas, employers in all 10 countries surveyed report positive hiring intentions for the coming quarter, with hiring plans strengthening in four but declining in five in a quarter-over-quarter comparison. When compared year-over-year, Net Employment Outlooks improve in four countries and decline in six. The strongest regional outlook is in Brazil, while the weakest are reported in Costa Rica and the U.S,” says Manpower.

While several of the upcoming class of 2013 UST MBA graduates will pursue careers in states other than Minnesota, none are currently planning  to pursue international opportunities.  Although the U.S. may not be leading the pack with an 11 percent employment outlook, Manpower reports, two of the most popular industries at UST will be on the hiring riseL business at 18%, and finance at 11%.

To review the full report click here, in summary: (more…)

Is The New Pope the CEO of the Catholic Church?

Friday, April 5th, 2013

img_pope_francisUnless you’ve been hiding under a rock for the last month, you know that a new pope was selected. As a business school at a Catholic University, we wondered how Pope Francis’ challenges as head of the Catholic Church relate to the challenges of any new CEO. “One of the things the new pope will have to deal with is a classic business mess — a multi-billion dollar conglomerate that has stumbled and is losing money and relevance,” noted Planet Money. We asked some of our faculty to weigh in and got some surprising answers, and discovered that UST has a direct influence on what the Church says about the “Vocation of the Business Leader.”

Professor Robert G. Kennedy from the Ethics and Business Law Department noted that while people are still trying to figure out the pope’s new priorities, he is not the CEO of the church, and the Vatican is not the headquarters of a global corporation.

“The pope is leader of the college of bishops,” said Kennedy. “And the church is more like a confederation of thousands of local organizations.” There are thousands of bishops around the world who make decisions about their individual dioceses, without running everything through the Vatican.

FinalsoftproofVoclyr1Kennedy noted that UST professor Michael Naughton, Moss Chair in Catholic Social Thought and director of the John A. Ryan Institute for Catholic Social Thought was the principal editor of a document, entitled Vocation of the Business Leader, issued last March by the Vatican’s Pontifical Council for Justice and Peace. Several other Opus College of Business faculty were on the drafting committee.

This publication forms the base of the church’s opinion about business. “In this document, the church, drawing from its rich social tradition, all but declared that ‘God loves businesses’ and offered concrete ways to bridge principle and practice,” explained Naughton in America Magazine.

We asked Naughton to share a few thoughts: (more…)

‘Our Time to Lead’ is Theme of 25th Multicultural Forum on Workplace Diversity in Minneapolis April 9-11

Tuesday, March 26th, 2013

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“Our Time to Lead” is the theme of the 25th annual Multicultural Forum on Workplace Diversity, a national conference that will be held April 9 to 11 at the Minneapolis Convention Center.

The forum is sponsored by Target and presented by the Opus College of Business at the University of St. Thomas in partnership with the National Black MBA Association Twin Cities.

The forum is designed for professionals who manage a diverse workforce, are responsible for diversity within organizations of all sizes, or work with multicultural clientele. The largest diversity and inclusion conference in the country, the forum attracts more than 1,200 participants from 35 states and more than 400 companies.

The forum runs Wednesday and Thursday, April 10 and 11. A Career Services Center will be held Tuesday and Wednesday, April 9 and 10, and a Career Fair will be held Wednesday, April 10. More than 50 Midwest companies will be represented at the Career Services Center and Career Fair, which are free and open to the public. (more…)

A Business-view on Choosing the Next Pope: NPR

Tuesday, March 5th, 2013
People fill St. Peter's Square as Pope Benedict XVI delivers a homily on a giant video screen October 10, 2010 in Rome, Italy. Photo by Mike Ekern

People fill St. Peter’s Square as Pope Benedict XVI delivers a homily on a giant video screen October 10, 2010 in Rome, Italy. Photo by Mike Ekern

From NPR’s Planet Money: “The Catholic Church is not a corporation. It’s a religion, a cultural force, and a global power. Still, one of the things the new Pope will have to deal with is a classic business mess — a multi-billion dollar conglomerate that has stumbled and is losing money and relevance.”

Today, on the verge of the cardinals assembling in Rome for their conclave we bring you this NPR podcast that explores the business side of the Catholic church and some of the challenges the next Pope will face. Enjoy!

The Business Background of St. Thomas’ New President

Tuesday, February 19th, 2013

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The St. Thomas Board of Trustees has named Dr. Julie Sullivan, executive vice president and provost of the University of San Diego, to succeed Father Dennis Dease as president of the University of St. Thomas this summer.

With a Ph.D. in business administration, Sullivan has a strong background in business education that she will bring to bear at UST. John M. Morrison, a trustee who served as chair of the search committee, said Sullivan’s extensive background as a professor and administrator has prepared her well for the St. Thomas presidency.

“Julie is tailor-made for the position,” said Morrison, who has served on the St. Thomas board since 1996. “She has the academic experience, business acumen and personal qualities we need in our next president, and her Roman Catholic faith is central to her life. St. Thomas, which is similar in many respects to that of the University of San Diego, will thrive under her leadership.” (more…)

How are “Fun” Companies Created: Google

Wednesday, January 30th, 2013
Photo Source: Google.com

Photo Source: Google.com

Remember when Netscape, Buena Vista and Excite were our options for internet searches and we had to dial up to get to the internet? Then, we were introduced to the Yahoo yodeler and heard from a talking dolphin in the 2002 Superbowl ad touting the fact he learned to talk using Yahoo. Yahoo grew through acquisition but much of that growth was in response to the more rapid growth of a company called Google.

While giving you the history of Google isn’t the focus of this post, I think it is important to know a few facts about the company in order to understand how it grew to be, in my opinion, a fun company. Here are a few historical highlights:

1995: Larry Page and Sergey Brin begin working on a search engine called BackRub which was housed on Stanford servers.

1997: It was decided that the name BackRub didn’t quite fit the vision of Page and Brin. Their brainstorming resulted in the name Google – a play on words using the term googol, a mathematical term used to described the number 1 followed by 100 zeros. (Perhaps googol also stands for the ultimate goal of Page and Brin in terms of identifying the value of their company.)

1998: Google files for incorporation in California  They also receive $100,000 in funding from Sun co-founder Andy Bechtolsheim which they use to set up work space in a garage in Menlo Park. Page and Brin hire their first employee.

1999: Google moves from their garage office to Palo Alto with a total of eight employees. Yoshka, the company dog, regularly came to work with the senior vice president of operations. The first chef was hired – he previously catered for the Grateful Dead. (more…)

Observations from Across the Pond: UST London Business Semester Fall 2012

Wednesday, January 23rd, 2013

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Undergraduate students in the Opus College of Business have the opportunity to study abroad during the fall semester on a UST sponsored study abroad trip called the London Business Semester. A group of about 50 students travel to London during their junior or senior year accompanied by two OCB faculty members each fall to not only learn a new perspective of business but also to learn a significant amount about themselves, methods of getting around in foreign countries and to quickly convert dollars to Pounds or Euros.

As a ’01 London Business Semester alumna myself, I was interested to hear about the trip this fall. Professor Dave Brennan was one of the faculty leads on the trip and provided some interesting observations of business in London:

  • London dominates England and the U.K. more than New York or any other city in the U.S. It is the largest metro area with a population of approximately 13 million or over 20% of the U.K. It dominates the country’s social, economic, political, athletic, entertainment and media environments. In comparison, the New York metro area has 18 million people, but is less than 6% of the U.S. population and is not the political capitol.
  • Retailing in London is different than the U.S. There are fewer malls and more high streets or fashion shopping streets. There are fewer department stores, but some exceptional ones like Harrod’s. Specialty stores dominate the landscape rather than big box stores. Grocery stores are smaller and often located near tube stations, bus stops or near densely populated areas.
  • American brands are limited in London. Some American companies buy local companies and keep their name while others intentionally name their product differently to sound more British. One standout product is Pringles. It is everywhere from supermarkets, convenience stores, gas stations, theatres (plays), etc. They also have a wide variety of sizes and different flavors including some for Christmas with sweets and spices.
  • Food is purchased more frequently here. Why? Refrigerators are smaller, food lacks preservatives, and people prefer fresh. Organic is big – way ahead of the States. Eggs are free range, British and Irish beef touted (non-genetically modified feed or drugs as in the U.S.), and many more vegetarian options are offered in restaurants. (more…)

Six Characteristics of the Immigrant Perspective on Business

Tuesday, November 20th, 2012

The Opus College of Business’ Diversity Insights Breakfast Series recently welcomed Glenn Llopis, founder of the Center for Hispanic Leadership, for a discussion on the values immigrants bring with them that are relevant to business leaders. He spoke to a group of corporate and nonprofit participants about the six characteristics of the immigrant perspective: (more…)