Media Mentions

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis', Ph.D., business commentary covered the role venture capitalists play in international strategies. Dr. DeCarolis mentioned that in a study of high tech companies that underwent an IPO, researchers investigated whether the international experience of a venture capitalist on the board of a new venture was related to the company going global. The results showed that companies that have venture capitalists with international experience tend to go global. Other companies that have the potential of expanding abroad are more likely to go global if company management has international experience.  

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., did a business commentary covering office communication and how email, instant messaging, cell phones and texting are supposed to facilitate communication within an office but instead are causing communication breakdowns. Different generations use different methods of communication, boomers prefer email and cell phones and face to face communication. Generation Y prefer instant messaging, email and cell phones while Generation X prefer cell phones and texting and avoid emailing. This causes disparity in the workplace since everyone might not be using the same means of communication. Companies are now setting rules of communication when sending out messages establishing what methods are appropriate for different situations.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna DeCarolis, Ph.D., discussed self efficacy and overconfidence in entrepreneurs and how this can lead to a decrease in performance for a new company, for her business commentary. Self efficacy and overconfidence are main factors in deciding to start a business and normally is assumed will lead to better performance but research have shown that it is the opposite. This is commonly seen in industries that are dynamic and uncertain since entrepreneurs have unrealistic assessments and expectations of what they can accomplish and the outcomes they expect to gain. Entrepreneurs in ambiguous situations need to be more cautious than usual with their behavior and strategies.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis', Ph.D., business commentary covered outsourcing for entrepreneurs involved with new ventures. Outsourcing has its pros and cons such as allowing a professional to do their part in an area that might not be your strongest. This might be more expensive at first but in the long run it’s better to have a professional do it right the first time. On the other end entrepreneurs might want to have more control over such duties as design and public relations to ensure quality and strategic consistency. The important aspect of outsourcing is finding the balance that will give you a competitive edge to boost your business to the next level.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna DeCarolis, Ph.D., discussed how rude employees and bad behavior affect small businesses for her business commentary. Information from a recent study of managers and employees across industries suggests that behavior is costly to the firm as a whole. Employees who are victims of toxic behavior reported a decrease in commitment to the company and performance since they spend time worrying about co-worker's behavior. “Managers should not tolerate or ignore rude behavior. Appropriate social behavior should be part of performance evaluations. Offenders should be warned and reprimanded and if all else fails dismissed." 

Nasdaq.com

PHILADELPHIA -(Dow Jones)- There should be a market mechanism, not dependence on regulators, to address the problem of banks being “too big to fail,” said William Poole, former president of the Federal Reserve Bank of St. Louis and senior fellow at the Cato Institute.Speaking Thursday at a conference organized by the Global Interdependence Center and Drexel University’s LeBow College of Business, Poole said there must be creditors - not just stock holders - that are at some risk of loss.

Philly.com

William Poole, former president of the Federal Reserve Bank of St. Louis, will give the keynote address for the 27th annual Monetary and Trade Conference at Drexel University Thursday at 11:15 a.m. His topic will be “Saying Good-bye to Too Big to Fail,” referring to the phrase we’ve all heard far too often over the last year. The conference, which is jointly sponsored by the Global Interdependence Center and Drexel’s LeBow College of Business, will present several other speeches with suitably gloomy titles, such as “Searching for a Bottom” and “Creative Destruction in the Banking Industry: What’s Left and What’s Next.”

The Bottom Line

Dr. David Campbell, department head and professor of accounting, was featured in an article in The Bottom Line titled "Many in U.S. still have IFRS fears." Dr. Campbell discussed how businesses are reluctant to switch over to IFRS since the SEC is discussing a possible extension to the 2011 implementation of IFRS. Even though the switch is inevitable there is no rush for early adoption, this means that 1,100 foreign SEC registrants no longer have to reconcile the IFRS financial statements to U.S. GAAP statements said Campbell.

GreekNews.com

LeBow College of Business Dean George Tsetsekos, Ph.D., received the Hellenic Heritage Achievement Award for his outstanding achievements, and innovation strategies in education. Upon receiving his award, Mr. Tsetsekos said, “It’s always wonderful to be recognized for professional achievements, but being recognized by an organization connected to my heritage is something very special to me. Today it is estimated that more than three thousand academics of Hellenic heritage are involved in education and various roles at universities across the United States. They are part of the intellectual fabric of this great country. The Greek ideals of freedom and democracy provided the foundation upon which the West was built. It is in these challenging times it is with honor and distinction that Greek American faculties exemplify our Hellenic ideals in continuing the path of our ancestors to enrich the lives of generations to come.”

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis’, Ph.D., business commentary covered lowering price to attract or retain customers. She started by mentioning the three components of the customer relationship, price, service and quality, and how crucial they are in making this decision since by lowering one you might be lowering another . If lowering the price is not an option she recommended business owners to show how their product is different, better and how it contributes to the customers bottom line and goals. Competitors also may lower their price which requires owners to show how their product adds more value and is different than the rest.

USnews.com

U.S. News and World Report picked up the story “When to Lower Your Price Point” published in Entrepreneur.com for their website USnews.com. The story included a section provided by the Director of The Baiada Center, Mark Loschiavo, on price changes.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., discussed for her business commentary how entrepreneurs should handle stress especially now in times of an economic downturn. The main thing to avoid is cognitive distortions where people emphasize the negative and ignore the positive. Instead entrepreneurs should always remember that they are in control and should write down short and long term plans of action since writing will help clarify thoughts. Staying in touch with business associates, family and friends also helps to control stress since they keep you grounded and give you a different perspective on things.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, PhD, shared information on her business commentary about where entrepreneurs can get advice, meet other entrepreneurs or network to discuss the problems and challenges they face. She suggests entrepreneurs seek help and support since going it alone is normally not the best way to handle problems. Empowerment-group.org, phillypreneurs.com, phillystartupleaders.org and founderfactory.com were recommended for entrepreneurs in Philadelphia.

Fox Business

Erik Benrud, Ph.D., has been named Curriculum Director of II Exam Prep, the suite of self-study products for the Chartered Alternative Investment Analyst examinations, produced by Institutional Investor, Inc. Dr. Benrud is Associate Clinical Professor of Finance at the LeBow College of Business at Drexel University in Philadelphia. “We are very pleased to welcome Dr. Erik Benrud as he is very familiar with the CAIA study materials, having earned the CAIA designation recently. He also has extensive experience in writing exam preparatory materials and his own research interests are in alternative investments,” said Allison Adams, publisher of Institutional Investor Journals and II Exam Prep.

Alibaba.com

Mark Loschiavo, senior executive in residence and executive director of the Baiada Center at Drexel University's LeBow College of Business, has pinpointed the following four questions as the most important to consider when thinking about a price change. Are you offering something your customers need?, Are you offering an affordable luxury?, Are you offering something that can help your customers weather the recession?, Are you decidedly better than your competition?

Cloud Computing Journal

Erik Benrud has been named Curriculum Director of the suite of self-study products for the Chartered Alternative Investment Analyst examinations, produced by Institutional Investor, Inc. Dr. Benrud is Associate Clinical Professor of Finance at the LeBow College of Business at Drexel University in Philadelphia. "We are very pleased to welcome Dr. Erik Benrud, as he is very familiar with the study materials, having earned the designation recently. He also has extensive experience in writing exam preparatory materials and his own research interests are in alternative investments," said Allison Adams, publisher of Institutional Investor Journals and IIExamPrep.

Philadelphia Business Journal

In an article entitled "Bonuses for Top Universal Health Services Executives Top $5 Million," Ralph Walkling, Ph.D., Stratakis Chair in Corporate Governance and Accountability at Drexel University's LeBow College of Business and Executive Director of the College's Center for Corporate Governance, said he does not believe bonuses should be eliminated altogether. Companies just have to be very careful [that bonuses] don't amount to gifts to executives at the expense of the shareholders, he said. Walking said shifting away from cash bonuses in favor of stock options, a strategy popular in the 1990s, has its own risks of executives trying to manipulate a company's stock price through fraudulent means. Bonuses are an important part of compensation, but they are coming under increasing scrutiny, he said.

Entrepreneur Magazine

Mark Loschiavo, senior executive in residence and executive director of the Baiada Center at Drexel University’s LeBow College of Business, has pin pointed the following four questions as the most important to consider when thinking about a price change. Are you offering something your customers need? If not, you may need to drop prices to get a percentage of the customer’s wallet. During recessions, must-haves almost always trump nice-to-haves.Are you offering an affordable luxury? During a recession, most consumers may still be willing to indulge a little.

Smart Money

If the company’s net income from operations (typically, the bottom line on a company's income statement) is close to zero, the company is operating very close to “break-even,” meaning its expenses are roughly equal to its revenue and little to no profit is being made, says George Tsetsekos, Ph.D., Dean of Drexel University's LeBow College of Business. That puts the company in a precarious situation: Should it lose a big order or experience less demand overall for its products, the resulting drop in revenue could push the company's bottom line into the red. If the net income figure is in brackets that means the company is already losing money. Either way, it's not a good sign.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D. commented on government funding of entrepreneurial ventures as part of the economic stimulus package. She believes part of the package should focus on new ventures since small companies pay 45% of private payroll and have created more than half of the new jobs over the past decade.

The Triangle

The National Organization for Business and Engineering Society, Drexel Smart House and the Drexel Entrepreneur Association held The 21st Century Entrepreneur event to showcase what it takes to become an entrepreneur in today's society."[The event] was to cover an area of entrepreneurship that differs from what students are exposed to in class - to really show the new-world entrepreneur," Zachary Howitt, president of NOBE, said.

The Triangle

BusinessWeek’s 2009 Best Undergraduate Business Schools ranking placed the LeBow College of Business 38th among private colleges and universities in the nation and rated LeBow’s undergraduate programs an ‘A’ for job placement. “We are a very good quality business school and we are at the top of the best worldwide known business schools because there’s only 550 accredited schools, so if you are among 38 then you have a distinguished of education and the college and its programs,” George Tsetsekos, dean of the LeBow College of Business, said.

The Hellenic News of America

PHILADELPHIA (March 9, 2009)-Drexel University LeBow College of Business Dean George Tsetsekos, a native of Naflpion, Greece, will be honored with the American Hellenic Institute’s 2009 Hellenic Heritage Achievement Award for his outstanding achievements and innovative strategies in education. Tsetsekos will receive the award at a celebration on March 14 at the Capital Hilton in Washington D.C. ABC’s George Stephanopoulos, chief Washington correspondent and host of This Week, will serve as master of ceremonies for the celebration .“My colleague and friend George Tsetsekos is highly deserving of this prestigious award,” said Drexel President Constantine Papadakis. “As dean, he has advanced our business college, its programs and curriculum to better prepare graduates for the global business world with a solid education well grounded in leadership and entrepreneurship.”

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis', Ph.D., Business Commentary covered the importance the name of a company plays and the benefits that it brings when branding as well as the importance of trademarks for protection.

E-School News

Erik Poole, director of instructional technology at Drexel University’s LeBow College of Business in Philadelphia, said podcasts have been most useful for adult students who can watch lectures while traveling or working. But just like students who don’t remain focused in the classroom, watching podcasts without taking notes and paying attention will leave students unprepared for quizzes and tests, he said.“The big key is the ability to capture that knowledge and the content from the faculty member,” Poole said. “Technology is just a tool, and it can only really enable students to do better if they utilize it properly. … They still need to put the work in.”

Jewish Exponent

Take me to your leader! Well, that would be David L. Cohen (center), exec VP of Comcast Corp., named Drexel University LeBow College of Business 2008 Business Leader of the Year. Making it their business to fete him are George P. Tsetsekos, Ph.D. (left), R. John Chapel Jr., dean’s chair in leadership, LeBow College of Business; and Drexel prexy Constantine Papadakis, Ph.D.

Middle East Economic Survey

Shawkat Hammoudeh is Professor of Economics and International Business at Drexel University. He can be reached at hammousm@drexel.edu. Quantitative easing (QE) is an economic tool that is aimed at getting more out of a tired monetary policy in an interest rate environment that is zero-bound. It primarily targets the quantity of money instead of the interest rate, when the economy is in a 'liquidity trap' - that is, when the interest rate is very low and lowering it further will not stimulate economic activity. In this article, I compare Japanese and American QE in terms of objectives, tools and duration. The Bank of Japan (BOJ) pursed QE in the period 2001-06, while the US Federal Reserve has embarked on QE since September 2008. I will also discuss whether Japan has embarked on QE since October 2008, but using the American model this time, and whether the Fed is undertaking another round of QE to fight deflation.

KYW News Radio

Management Professor and Associate Dean for Strategic Initiatives Donna De Carolis, Ph.D., covered working from home for her Business Commentary on KYW News Radio. She spoke about the pros and cons, and how to overcome the draw backs that come with working from home such as decreased motivation.

Greek News

Washington, DC-The American Hellenic Institute (AHI) is set to celebrate the accomplishments of a select group of Greek American community finest this year at its 34th Anniversary Hellenic Heritage Achievement and National Public Service Awards Dinner in Washington, D.C. on March 14, 2009, at a gala at the Capital Hilton (1001 16th Street NW). The black-tie event begins with a 5:30 p.m. reception and silent auction, followed by a dinner and awards ceremony starting at 6:30 p.m.

Philadelphia Business Journal

The business model for PhindMe grew out of the partners’ entry into a Lebow College of Business competition. Those who have watched the two in action give PhindMe a good chance of success. “They don’t just have a sense of the product,” said Mark Loschiavo, executive director of the Baiada Center. “They have an understanding of distribution strategies, a sense for how to acquire customers, how to build a business around it.”