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Archive for April, 2013

montThe István Széchenyi Institute is delighted to sponsor the International Business Society’s first international business mission. A delegation will represent Quinnipiac University at the ASECU Youth Conference (Association of Economic Universities of South and Eastern Europe and the Black Sea Region), from July 15-20th, in Kotor, Montenegro.

Throughout the years the International Business Society has been looking for ways to help its members extend their global opportunities, experiences and cultural diversity awareness. With a totally new e-board that focuses on providing more international and multidisciplinary academic and professional experiences to its members, the student organization has believes that such achievements will only be a result of hard-work added to excellent partnerships.

Italo Alves’15, Alyssa Thomas’13 and Michael Graziano’16, Presidents and Vice-President of External Affairs, respectively, were selected to go to the 3rd ASECU Youth Conference, which focuses on “Knowledge Economy- Impact on Sustainable Development of the Countries from East and South East Europe”.  The conference will cover a range of topics such as economic growth, human capital, digital economy, research and development, intellectual property, financial market innovations, and global marketing challenges.

“For the International Business Society, this presents a unique opportunity on multiple fronts. First off, it exposes our members to different perspectives on the very business practices we study every day. Secondly, it is an opportunity to learn from scholars and students alike. … It aids to our development not only as business professionals, but more specifically as international business professionals,” highlights Alyssa Thomas, current President of the club.

“This is just the perfect opportunity for us to establish even more partnerships with student clubs in Europe and narrow down the distance between academics and professionalism in international business. Hopefully, the results of this representation will be enormous to our club, and we will be able to attend even more conferences like this in the future,” says Italo Alves, Co-President of the IB Society.

“This conference will not only encourage us to focus on the economic concerns of the world, but give these three students enough information, knowledge, and confidence to bring everything learned back to our home at Quinnipiac University, which is our ultimate goal through this trip,” affirms Michael Graziano, VP of External Affairs.

The IB Society thanks Quinnipiac University and all its supporters for making this student dream a reality!

Learn more about the István Széchenyi Institute here.

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credit cardsPrepaid cards either issued by a bank or credit card companies are quickly replacing checks and even traditional credit and debit cards. Even the government is moving to prepaid cards over mailing checks. On March first the Federal government finished converting all Federal benefits checks to direct deposit or prepaid cards from traditional mailed checks. Through 2006 to 2009 prepaid cards were the fastest growing electronic payment method and by the end of 2013 prepaid card use is expected to be up 200 percent since 2010.

The shift to prepaid cards is thought to be, at least in part, to the Durbin Amendment that was recently passed. These new regulations put a cap on debit card fees and other fees banks used to generate revenue, costing the banking industry an estimated $8.4 billion in annual revenue. Prepaid cards however, are not regulated by the government allowing banks to make up revenues by issuing them more frequently with more favorable terms for the banks. Professor Robert Porter of the Finance department at Quinnipiac was asked, “How has the role of prepaid cards changed throughout the years?” Professor Porter responded, Prepaid cards were traditionally used by consumers with weak credit who were unable to qualify for a traditional credit card and did not have a bank account that would support a debit card. The fees associated with these prepaid cards were often quite high; especially when you consider that no credit was being extended to the card holder. It has been suggested that banks have recently been offering prepaid cards to their debit card holders due to the limits placed on debit card fees by the Dodd-Frank Act. Due to the limits on debit card fees, prepaid cards are a more profitable product for the banks.”

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ceoThe Quinnipiac University team of CEO Christopher Conlin (sophomore entrepreneurship major) and CFO Keith Kito (sophomore finance major/entrepreneurship minor) finished second in the 2013 CEO Startup Simulation Challenge.  CEO is the national Collegiate Entrepreneurs Organization and the Quinnipiac chapter has performed at the national level in past competitions including the simulation and elevator pitch contests.

The simulation required Chris and Keith to start a new company and compete against other companies both in their industry (retail) and in other industries for sales, profits, employees and customers.  It ran for six weeks and required almost daily supervision to keep up with changing market conditions and customer demands.  Faculty advisor Dr. Dale Jasinski , commented that neither student received any course credit for participating in this contest and that the student’s efforts reflect well on their entrepreneurial abilities and skills.  They will be going to the national conference in the fall, 2013 to be presented their certificate of achievement in front of the over 1,000 students and faculty who attend the annual conference in Chicago.

Collegiate Entrepreneurs’ Organization (CEO) is the premier entrepreneurship network with chapters on university campuses across North America and beyond it was established in 1997. CEO currently supports entrepreneurship on over 240 chapters in over 43 states. The organization sponsors one national conference and five regional conferences yearly, and in addition holds the National Elevator Pitch Competition. Many companies, like Northwestern Mutual, now support the CEO organization. As a sponsor they are able to see potential hires from over 8000 participants in the CEO programs.

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Beta Gamma Sigma 070

Students at the Beta Gamma Sigma Honor Ceremony in Burt Khan

On April 10th, sixty-two students from the Quinnipiac University School of Business were inducted into Beta Gamma Sigma, the only national business honor society recognized for Business Schools accredited by AACSB International. The honor society name is derived from the initials of three Greek words that represent the principles of Beta Gamma Sigma: BEBAEOS (which signifies honor), SPOUDE (which signifies earnestness), and GNOSIS (which signifies wisdom). Eligibility for induction into Beta Gamma Sigma is limited to graduate students in the top 20 percent of their class and undergraduate juniors and seniors in the top 10 percent of their class. The induction ceremony was held in Burt Kahn Court where family, friends, and faculty celebrated with the honored inductees. During the induction ceremony, Dean Matt O’Connor administered the pledge and charged the students to cherish honor, acquire wisdom, and cultivate earnestness while advancing the interests of Quinnipiac University, the nation, and the community. After affirming the pledge, the inductees were presented with the Beta Gamma Sigma key as a symbol of the ideals of honor, wisdom, and earnestness. The event concluded with the award of the Beta Gamma Sigma Dean’s Scholarship. The scholarship is awarded to that student with junior standing who is judged to best exemplify the principles of Beta Gamma Sigma though demonstrated accomplishments in the areas of academics, extracurricular activities, and community service. The 2013 Beta Gamma Sigma Dean’s Scholarship award winner is Everett “Joe” Almeida, a junior finance and economics double-major from Hope Valley, RI.

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power company

Twenty-five business and engineering students visited The United Illuminating Company’s operations center in Orange, Conn., on April 2 for a career Utility Exchange Program.

The half-day program was designed to provide insights into the academic requirements necessary for the development of career paths with electric and natural gas utilities beyond the traditional engineering curriculum.

“Electric and natural gas companies require a blend of talent in engineering, administration, finance, supply chain, business analytics, communications, logistics, technology and other support services,” UIL President and Chief Executive Officer James P. Torgerson told students in attendance. “The energy sector is a very dynamic place to work.”

In addition to presentations on electric operations, safety, electric and natural gas engineering, supply chain, construction operations, students had the opportunity to visit the UI control room to witness how electricity moves throughout the company’s service area, and to tour the operations facility to view the logistics requirements and support services necessary to keep the electricity flowing to customers around the clock.

“I was really impressed to find out that UI recycles 95 percent of their product,” added Matt Modelson ’13. “Doing that plays a huge role in sustainability.”

Students also learned about UIL’s work recruitment process. “Twice a year, we visit college job fairs to recruit new talent for internships and for employment at our electric and gas companies,” explained Ron Robert, manager, Organizational Talent. “We’ve been very successful attracting quality talent through this process. The program we conducted with Quinnipiac University provides us with another way to partner with local colleges and universities to not only provide academic value for the schools and students, but also to attract the next generation of electric and gas industry employees.”

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Quinnipiac Students, Prof. Ron McMullen, and Dean Matthew O'Connor

Quinnipiac Students, Prof. Ron McMullen, and Dean Matthew O’Connor

Quinnipiac’s Enactus team presented their three projects on Wednesday, April 3 in New York City. Jimmy Stewart (junior, International Business), Cassie Klatskin (junior, Economics), Sara Dors (junior, Accounting), and Preston Porter (junior, Finance) presented before a panel of 12 judges the work the team has done this year. The presentation wow’d the judges, and now the team will advance to the national competition in May in Kansas City, MO.

Quinnipiac’s Enactus group is for students who want to use entrepreneurial skills to do good in the world. Currently, Quinnipiac’s Enactus chapter has three projects: Beading Cancer, which imports beaded jewelry from the Ghana-based Global Mamas organization and then uses the proceeds to raise awareness of and conduct prescreening for breast cancer in Ghana; The Market Project, which helps local farmers and businesses bring their food to Quinnipiac’s Farmer’s Market, develop marketing plans, and increase their businesses’ success; and ReNew Haven, which works with high school students in New Haven to teach them business skills and create projects to help improve their community.

Enactus is an international non-profit organization that brings together student, academic and business leaders who are committed to using the power of entrepreneurial action to improve the quality of life and standard of living for people in need.Guided by academic advisors and business experts, the student leaders of Enactus create and implement community empowerment projects around the globe. The experience not only transforms lives, it helps students develop the kind of talent and perspective that are essential to leadership in an ever-more complicated and challenging world.

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entrepreneurshipOn Friday April 12th from 1:00 to 3:00 p.m., Dean Matthew O’Connor and Patrice Luoma, the Chair of the Department of Entrepreneurship and Strategy invite students to attend the Entrepreneurship Business Model Competition in the Mancheski Executive Seminar Room.  The Entrepreneurial Business Model provides an opportunity to showcase student business ideas, obtain feedback from business professionals, and win prize money for their business.  The call for the competition was open to Quinnipiac University students, both individuals and teams. A variety of student business ideas were welcomed and eligible for the competition. Students are evaluated on how viable their business ideas are. Following the presentations, the ranking of the top three finalists are announced. An awards reception will follow the announcement with prizes ranging from $1,000 to $5,000. Judges of this competition include Carlton Highsmith, founder, president, and CEO of CLH Holdings, David Kaiser, retired president, COO, and cofounder of Alexion Pharmaceuticals, and Bobby Emamian, founder and CEO of Prolific Interactive.

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