Ciocca Center for Business, Ethics, and Society Blog

June 30, 2011

Summer Business Program: Week 3 & 4

Here’s the rest of week 3 and the start of week 4 from Quinn!

Quinn Korzeniecki is a senior English major with a Pre-Business concentration. She is editor-in-chief of The Advocate, a progressive online publication at Holy Cross, and works as an assistant in the Vice President and Dean of Academic Affairs Office. As a participant in the Summer Business Program, she hopes to learn more about marketing and advertising aspects of business. Quinn aspires to enter into publishing either in the editorial, marketing, or advertising departments.

A couple of weeks have passed since my last blog, so here’s what you’ve missed:

On Tuesday, June 14, a few General Electric employees (who were all Holy Cross alumni) came to instruct us on how to use excel spreadsheets in data analysis. I honestly thought I knew all there was to know about Excel, but after a day chocked full of learning how to install hyperlinks, take the sums and averages of cells using functions, and even how to sort and filter a data set. I realized after this lesson that I didn’t know as much as I thought I did, and am grateful that I can now use a function to rearrange names into alphabetical order instead of taking hours to manually to do so. What am I going to do with all the time this lesson just saved me?

We learned how to create PowerPoint designs and presentations on Wednesday. Although this was more of a straightforward lesson for me, I did learn many new concepts as well. These three General Electric employees taught me how to paste whole internet sites into a slide, and also how to add an icon to the slide that links to a spreadsheet containing data to support the information provided on that slide. We were then able to experiment with shapes and fonts to familiarize ourselves with all the available formatting options. Later that day, after the conclusions of the PowerPoint lesson, we put on our Summer Business Program t-shirts and assembled outside Smith Labs for our group pictures. They all came out great!

Thursday was a bit of a shocker! We were instructed to come to the morning session in interview attire, but we weren’t aware that we would actually sit in a chair in the front of the class and be interviewed on camera in front of our peers. I will say that this was my first time being recorded, and as intimidating as it was, it was helpful to see myself as I interviewed: I learned that I move my head too much and that I look uptight with my hair pulled back so tightly. So, after analyzing our interview tapes, we dissembled for lunch. The afternoon session consisted of a site visit to Blue Hive, Inc. with Holy Cross alumnus, Jack Hally. This company creates large scale displays for companies such as Covidien and Liberty Mutual. This trip was amazing! The work environment was split into two sectors: very creative and very hands-on. Some staffers have to create the layout for the exhibits and others must physically build these displays in the workshops. Mr. Hally was very excited about the work being done at his company, and this excitement definitely rubbed off on us.

Bill Liesman ’72, a business consultant, came to speak with us on Friday, June 17th about international business. We learned in earlier weeks that emerging markets all over the world are looking promising in the stock world, and today we learned a little about why this is happening. Globalization is occurring on a massive scale and the world is becoming more interdependent: going global allows companies to increase their market base/share, increase profit, and better compete with other companies in their market. We learned about inventory practices and international law against corrupt global practices. In the afternoon we were assigned a natural disaster (my group received the earthquake in Chile) and were asked to create a PowerPoint revealing how the disaster affected the world’s supply chain of a specific product and what precautions the country should have taken to avoid the detrimental effects.

After an eventful weekend, the program reconvened on Monday with a visit from Michael Villa ’91 and Bob Allard ’91 explaining the process of starting a business. These innovators had us thinking like entrepreneurs and eventually being entrepreneurial! Each team had to design an iphone application and present their app to the group. We were hesitant at first, but Bob and Mike had tons of energy that was both motivating and encouraging.

We wrap up the program in a couple days with our group presentations, and I look forward to seeing what the other groups have in store for us!

Thanks again, Quinn! If you have any questions about SBP, please email us at prebusiness@holycross.edu. Don’t forget to find us on facebook!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

June 14, 2011

Summer Business Program: Week 3

Quinn is back with another SBP post!

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Wow, how quickly time passes when you’re learning about the different aspects of business!

As I said at the end of my last post, on Wednesday we learned about what it means to work in the financial sect of the business world as a venture capitalist and how to choose the best way to fund a new business. We learned about Warren Buffett’s amazing work as one of the most successful venture capitalists in his company, Berkshire Hathaway. As a member of a venture firm, one must value companies based on their profitability, growth, and risk. I learned a term I never heard of before: EBITDA, which means “earnings before interest, tax, depreciation, and amortization.” Tom Flynn instructed us to throw that term into a financial interview to clinch the position. In the end of the session we were sent off into our groups and assigned the task of picking which company we would buy stock in, either Facebook or Google. Although I am obsessed with social networking, my group ultimately picked Google because a new social networking site will probably enter the spotlight within the next year or so and make Facebook obsolete.

Two former football playing Holy Cross alumni came in on Thursday to speak about marketing and sales. Peter George, the CEO of Fidelis Security Systems, spoke about the qualities of a successful salesperson. He filled us in on SPIN, or the science of selling, which is a four step way to assure that you are maximizing your potential as a salesperson. Since I am competitive, smart, hard-working, and a team player, I could definitely see myself going into this field of business! Terry Waters, the CEO of the Yankee Group, taught us about B2B (Business to Business) marketing, through which companies sell products and services to other businesses that in turn sell them to the consumer. The best marketing departments have board commitment, knowledge of the target market, and have a clear, quantified, focused, realistic, and resourced marketing plan. All companies want to have a combination of vision and ability to execute, and those that fall short either run out of money and need to ask for more debt or equity or fail. It’s survival of the fittest in America these days!

On Friday, Ian Dowe, another football alumnus came to Smith Labs 155 to speak with us about advertising. This workshop was completely different from the previous ones: we were asked to bring in magazines and links to advertisements on Youtube and used these ads to learn what runs through the minds of those working in an advertising firm when they are creating one of these promotions. After analyzing a nail polish ad in which a woman’s fingernails matched the eyes of a tiger and wore a large diamond ring, I realized that advertisements do indeed play into our wants and desires: we all want to be more desirable, and advertisers play into this to get you to buy their product. We broke into our groups with the task of advertising a product: my group created a new product, the “Shrup,” or shrinkable and portable cup. It was interesting to learn about the thought that goes into advertisements and it was even more beneficial to advertise for a product ourselves.

After a weekend of relaxation, shopping in Providence, and more relaxation, we got back to the grind. Monday morning we received a brief introduction to microeconomics with Professor Cahill. We learned about making decisions based on weighing opportunity costs. In our teams, we competed against each other making deals that served as examples of imperfect competition: a lot of friendships were broken by cheating team members, but they made amends in the next round when we made bids on bonds. Some ended up winning by a large margin to keep the peace (but I don’t think that’s how it would work in the real world). In the afternoon we learned about business organizations ranging from sole proprietorships to corporations. All in all, the past four days were a great success, and I look forward to learning how to use Microsoft Excel in the business world.

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Thanks, Quinn! If you have any questions about SBP, please email us at prebusiness@holycross.edu. Don’t forget to find us on facebook!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

June 8, 2011

Summer Business Program: Week 2 part 1

Our guest blogger, Quinn, is back with more from SBP. I’ve asked her to share a brief bio this week as well. ENJOY!

On Friday, we learned about something for which my dad would be very proud of me if I could only accomplish it: personal finance, investments, and mutual funds. Professor Anderton taught us all about the similarities and differences between stocks and bonds. He stressed the importance of setting up a financial plan to control spending after graduation. Also, we discussed how profitable long-term investments can be especially if we start at our young age. Because of this workshop, I plan on saving the first significant amount of spare cash that I earn, investing it in stocks, and praying that in 50 years it will amount to 5 million dollars like it did for Susan Smith in the example. Hey, a girl can dream.

Along the same lines of personal finance, Professor Chu lead Monday’s workshop on accounting. We learned more about the individual shareholder’s piece of profit from stocks in the company. In the afternoon we learned about the terminology needed to understand the business world in general: one of the most interesting things I learned was that companies are obliged to report risk factors to the Security Exchange Commission. Therefore, when we had to list the cons of investing in the insulin pump company Insulet we realized that a natural disaster like the tornadoes that recently tore through Massachusetts could demolish the company’s only storage warehouse. Yet, sometimes the future benefits outweigh the present risks, and my group ultimately decided that we would invest in Insulet.

Monday night we enjoyed a banquet-style dinner and discussion with Peter Mondani, VP of Human Resources for General Electric, who taught us about business models, personal branding, and careers. We learned that it is best to “influence without authority” by changing the opinions and viewpoints of others although you’re not in an authority position. Exude confidence but admit to making mistakes and learn from them. Also, apparently we women get red necks during interviews when we get nervous. I guess I’m “investing” in a scarf for my quickly approaching job interviews!

Tuesday afternoon focused on the job/internship search and networking. I found this particularly helpful since I’m entering my senior year and feel helpless in planning for the real world. I learned the best way to reach out to alumni and maintain informal and beneficial relationships. All in all, I’ve learned how to balance my personal finances, invest in stocks and bonds, and plan for attaining my first full-time job.

Wednesday we learn about what it means to work in finance: don’t let the English major fool you, I also enjoy math!

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Keep an eye out for Quinn’s posts throughout the month!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

June 3, 2011

Summer Business Program: Week 1

Quinn Korzeniecki ’12, is our SBP guest blogger. She’ll be giving you an insider’s view of what SBP is all about!

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“Consult not your fears but your hopes and your dreams. Think not about your frustrations, but about your unfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do.”-Pope John XXIII

Hi, I’m Quinn Korzeniecki and I am a participant as well as a program assistant for the 2011 Summer Business Program. For the next four weeks, I will be blogging about the fun and interesting goings-on of the program that occur in workshops and among participants during free time.

I didn’t know what to expect upon arrival to Holy Cross, and was shocked to see that the campus was deserted (of course, this was the day after all the seniors graduated, packed, and moved out). I was nervous and excited for the program to start: what would I learn? could I build connections with the speakers? would anyone be able to help me down my career path? will I do well with the tasks assigned to me?

I was more than relieved when we kicked off the program Tuesday night with a brief overview of the next month by Professor Chu, followed by a delicious meal in Hogan. Here we had our first encounter with the two speakers for Wednesday’s kick-off workshop on leadership, Moira Garvey ’78 and Mary Ann Rettig-Zucchi ’76 of the Jupiter Consulting Group. We “broke the ice” by playing games of bingo and making conversation with the help of question cards.

On Wednesday, I learned more about myself and my leadership traits than I ever knew possible. Moira and Mary Ann defined the word leader and explained the best characteristics of a leader, then used our 5 Dynamics personality test to identify the leadership strengths in each of us: I learned that I am effortless in communicating and forming groups as well as executing and carrying out plans. They placed us in groups according to our strengths (I was with the communicating “Excite” group) and gave us a stack of index cards and paper clips, then introduced the competition to see which group could build the tallest free-standing structure. It was really helpful to learn about myself through my interaction with others since a leader must have a keen self-awareness as well as an ability to communicate ideas with other people. It also helped that my group tied with another and won Peanut M&M’s!

We jumped back into action early Thursday morning with a workshop on Faith, Values, and Ethics taught by William Messenger, Executive Editor of the Theology of Work Project, Inc.. Here we learned about our own personal values and how they fit in within the world of business. We acted out some scenarios in which people were trapped in moral dilemmas in the workplace and we brainstormed the best ways to avoid making unethical decisions simply to please others or keep your job (and most times being ethical leads to increases in trustworthiness).

Tomorrow is another day, and I’m looking forward to the next few weeks!

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Keep an eye out for Quinn’s posts throughout the month!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

May 13, 2011

No matter what they tell you, your GPA really does matter

Yes, I realize the timeliness of this post. And, I am aware that it might even be a little cruel, but after surveying recruiters, it’s undeniable -if you want a job in finance, you have to boost your GPA. There’s no way around it and unfortunately the minimum keeps climbing.

An alum at JP Morgan gave us the following cold-hard facts:

JP Morgan won’t hire anyone below 3.4 (there was an addendum that if you manage to WOW someone in hiring, he’s seen one or two 3.2s sneak in, but it is rare.)

The average cumulative GPA of new hires is 3.5

Some colleges and universities have long-standing grade inflation practices. You might have to work harder for your 3.5 than the next girl/guy (and you’ve earned it), but on paper it all looks the same to recruiters.

It’s a MYTH that it’s okay to have a rough semester your freshman year. In the world of finance, everything counts. Find a tutor, join a study group, do anything to earn those few extra points – you need it.

So, keep up the hard work and realize there is a reason you are living in Dinand.

COES wishes everyone good luck on their finals!!

Don’t forget to find us on FACEBOOK!

Keep an eye out for our FINANCE BOOT CAMP posters throughout campus and watch for an upcoming post with more info!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

April 21, 2011

A Growing Gem of a Club- CAM!

Please welcome guest blogger, Abaigeal Healy ’11, Co-Chair of CAM.

The CAM Club stands for the student-led communications, advertising, and marketing group on campus. CAM Club is offered by the Ciocca Office of Entrepreneurial Studies and Pre-Business Program in association with Professor Chu. The purpose of CAM is to educate students in communications, advertising, and marketing, and to expose them to the many careers in these fields. This is a unique club on campus because there are no specific advertising courses offered at Holy Cross. CAM Club can sufficiently supplement a strong liberal arts education.

CAM can act as an introductory course to the marketing/advertising industry. The club intends to help students prepare for summer internships offered through programs like The Summer Internship Program, which is affiliated with the on campus Career Center. If offered one of these competitive internships through SIP Holy Cross students will more than likely be working with students from other colleges and universities who specialize or major in communications, advertising, or marketing. CAM can prepare Holy Cross students to excel in these internships.

CAM consists of workshops, career panels, and on campus project campaigns. In a typical meeting the club will discuss current events and hot topics in the industry. AdAge Magazine is delivered weekly and is available for students to read and study. A specific topic is discussed and elaborated on each week. For example, CAM has discussed the importance of social media in today’s society and how to market to Generation Y. The club has also started to collaborate with other groups on campus to help them generate advertising campaigns for activities and events. Eventually, CAM hopes to become the in-house, on campus agency for fellow student-led organizations. CAM brought one speaker to campus this year and hopes to bring more next year. The featured speaker was Kerry Dyer, a father of one of the students in CAM Club. Kerry Dyer is the Publisher of US News and World Report. A dinner and talk was set up in collaboration with the Pre-Business Program.

CAM is a young club and has recently applied to become an RSO (recognized student organization) on campus. Becoming an RSO will help advertise this club to freshman, sophomores, and juniors who are looking to specify their studies and interests. CAM is open to students of all classes and majors and is looking to build up its membership. For all you interested and creative students, come learn what it is all about! The new Co-Chairs for Fall 2011 and Spring 2012 will be Harry Chiu, Kelsey Russell, and McCall McIntyre. Please email Prebusiness for more information.

–Thanks Abby! Be sure to check out CAM next semester.

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

April 7, 2011

The Power of Possibility

While I’m not going to do this justice, Sheila Cavanaugh’s presentation on Tuesday night was too inspiring for me to not attempt to post some of her message.

When you wake up every morning, remember that you’ll never have another today. Make it worth it. The rest of you life is a question mark, so make sure you don’t settle.

If you don’t have a job the day you graduate, don’t fret. Keep at it. Things happen for a reason. You’ll find a job and, more often than not, another after that.

Just because you work in the corporate world, doesn’t mean you can’t serve your community. Companies have community outreach and development programs that do wonderful things locally and globally.

In a world full of criticism, take time to praise others. Years ago, Sheila decided to start a movement to write letters of thanks and praise to help balance out the letters of disappointment and anger companies often receive. Try to make your positive comments outnumber the negative.

Every person you meet in life is there to serve a purpose – to teach, to learn, to inspire, to challenge – don’t underestimate each interaction. You might be passing up the chance to develop a life-long relationship.

That’s just the tip of the iceberg, so don’t miss Sheila the next time she visits campus.

That about wraps up our workshops and dinner speakers for the semester. Stay tuned for posts about Prof. Chu’s financial portfolio class, CAM, and the Finance bootcamp we have in the works!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

March 31, 2011

An Update of Updates

Just a few things we really want to point your attention to this week.

First, one of our Executive Leadership Workshop participants is also a Blogger! Ted Cullinane ’14 wrote a fantastic post about his ELW experience over Spring Break. Be sure to check out Ted’s Post to get a participant’s view of the program.

Tonight, Holy Cross alumni, Ryan Leonard ’09 and Alesandra LaPointe ’09 from Nielsen Company are hosting an event to discuss working in a financial rotational program. From the Classroom to the Boardroom: Applying What you Learn at Holy Cross in the Real World will be held in Hogan from 6-8 Tonight, 3/31. You don’t want to miss it.

Here’s another even you can’t miss: The Power of Possibility Sheila Cavanaugh ’81, a Senior Vice President at Fidelity Investments, wraps up our Dinner Speaker Series this semester. Ms. Cavanaugh always draws a crowd when she comes to campus and is a favorite among the Women in Business conference panelists. This event is open to a limited number of people so email Prebusiness if you would like to attend. The event starts at 5:30 p.m. on Tuesday, April 5.

Hope to see you at any and all of these events!

Just a quick reminder that we are accepting Summer Business Program applications. The deadline is Friday, April 15.

Be sure to find us on FACEBOOK!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

March 24, 2011

Summer Business Program – 4 weeks to pave the way for the next 40 years of your life

We had a great turn out at Monday night’s Summer Business Program Info Session, but if you missed it here’s what you should know.

What you can expect to gain from SBP – Our Mission:

• Leadership development and team building – skills you NEED on your resume

• Moral values and ethical business practices – how Holy Cross students stand out

• Functional and personal business skills – your foot in the door to Wall Street and finance

• Starting and managing a business – business plans, marketing, & growing your business

• Team project – practically applying what you are learning during the program

• Visit to local business – seeing business in action in central, MA

Program Logistics:

• Open to approximately 30 students

• Housing in either Alumni or Carlin residence halls

• Taught by alumni and some faculty – real world teachers who work in the business everyday

• Daily interactive classes in the new science building, 9-12, 1-4 PM

• Weekends free

• Work on team project outside of class – your teams will meet in your free time

Team Project break down:

• 6 teams @ 5 per team – less or more depending on our applicant pool

• 1 executive mentor per team – a business executive to guide your project

• Team Exec decides project/role of team – working to real expectations and deadlines set by Exec

• 1 meeting per week with your Team Executive (face-to-face or phone)

• Dry run June 23

• Team presentations June 24 – CASH PRIZE to winners

The Benefits of participating in SBP:

• Comprehensive business education – a business background with your Liberal Arts degree

• Skill sets: leadership, team, presentation

• Networking – meet successful HC alum throughout the business world

• Differentiation – stand out from your peers at HC with this on your resume

What’s this going to cost you:

• $1,600—room and course materials

• $1,400—commuter discount

• Scholarships available

• We DO NOT provide meals —Cool Beans, Crossroads, off-campus eateries, supermarkets

• Cars allowed on campus – summer permits provided

How to apply:

• Deadline: Friday, April 15, 11:59 p.m.

• Online application, attach cover letter, resume, transcript

• One recommendation letter

• Interview

Let us know if you have any questions. The Summer Business Program is a chance for you to stand-out in your interviews and prepare yourself for a fulfilling career in business.

We’ll see you there!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

March 15, 2011

ELW Winners!

Congratulations to the members of Team 4!

This winning team presented a business plan for a company they named “PoolA Palooza.”

This service would allow inground pool owners to utilize the area of their pool during the fall, winter and spring months by installing a safe and effective covering system. Their cheery slogan “Take back your backyard” concluded a very professional presentation.

Our panel of distinguished alum declared them the winners, with a 3-way tie for second place. They announced that all of the teams presented very innovative, creative, and organized proposals.

The week wrapped up nicely with a closing banquet, where students could relax and interact with our panel of mock “venture capitalists,” and murmurs of applying to the Summer Business Program passed throughout the room.

The only questions left is: How do you want to return from your Spring Break next year – Sunburnt or Successful?

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor