Health care insurance costs have been rising since 1998 at a rate significantly above the cost-of-living. The trend continues this year. Employers' cost of health care is expected to increase 14% in 2002 according to Towers Perrin, compared to an increase of 10.2% in 2001. Smaller employers were hit last year with a 12.5% increase in premiums.
Eleven second-year MBA students in Penn State's Smeal College of Business recently pledged portions of their signing bonuses to a scholarship that advances diversity at Penn State. The amount totals $16,000 and it is going to the "Vernis Welmon Endowment For MBA Minority Affairs And International Programs. " The 11 students are members of the Minority MBA Association in Penn State's Smeal College of Business and graduate in May.
Many of the approximately one-million undergraduate students receiving their diplomas this spring knew only one kind of economic climate and often viewed good times as a permanent condition. The economic climate has changed rapidly since September and, even though experts feel it is rebounding, this spring's graduates will face tough competition as lay-offs and under-employment create a backlog of young people with good educations but limited work experience.
Picture this. Michael Bloomberg, arguably the most prominent mayor in the world, positioned in the middle of rows of non-descript work stations, surrounded by a buzz created by hundreds of people in upscale business attire, on the phone, peering at computer screens, typing emails, talking to their colleagues. This is the way New York City is run - - a city budget in excess of $40 billion, probably the most complex urban area in the world, with a top management team absent the usual power offices.
The MBA Association in Penn State's Smeal College of Business honored several faculty members with "Outstanding Faculty Awards" during a special awards banquet.
The 2003 edition of U.S. News & World Report's "Best Graduate Schools" ranks 352 accredited business schools in the U.S. Penn State's Smeal College MBA Program is 43rd overall, tied for 18th among public universities. Accounting and Production/Operations management were ranked 22nd and 23rd, respectively, in their specialty areas.
Donald Hambrick, one of the world's top management strategists, will join Penn State's Smeal College of Business Administration as the new Smeal Chair in Management.
Robert W. Koehler of Penn State's Smeal College of Business will retire on June 30, 2002, after 39 years of service to the University.
Penn State's eBusiness Research Center is continuing its Distinguished Speaker Series with a presentation by Richard A. Knowles, Vice President of Marketing at SAP America, Inc.
Stephen Kochuba is hoping to make a contribution to the United States' war on terrorism-not in the military, but as a diplomat.
A recent study co-authored by two researchers in Penn State's Smeal College of Business provides information gatekeepers on the Internet and World Wide Web with insights into developing paid placement strategies, such as a fee for preferential placement in the database, an increased relevance score in response to a query, featured listings on the results page or some other form of prominent display.
The Web site for Penn State's Smeal College of Business has a new look, thanks to a joint effort with IBM. Smeal College launched its redesigned web presence ( www.smeal.psu.edu ) on April 26.
A team of second-year MBA students in Penn State's Smeal College of Business took first place in the 19th Annual Rutgers University MBA Case Competition, which was held April 7-9 in Atlantic City, New Jersey.
Increasingly, employees and executives are unwilling to move. In a recent survey by Challenger, Gray and Christmas, relocation among first-quarter job seekers in 2002 fell to its lowest level in 16 years. Only 14% of job seekers had relocated to accept a new job, compared to an average of 22% in the preceding 5 years.
Penn State alumni are returning to campus next week to help first-year MBA students navigate a rite of passage: The "Executive Panel." Every spring semester for more 25 years, MBA student teams have analyzed a comprehensive business case and made recommendations to a panel of judges from major corporations.
A panel of minority alumni will provide insights on issues relating to diversity in the workplace during the upcoming "Diversity Appreciation Weekend 2002." The weekend is hosted by The Minority MBA Association in Penn State's Smeal College of Business and is being held in conjunction with MBA Visitation Weekend.
Penn State President Dr. Graham Spanier will be a special guest when The Smeal College of Business introduces its new Executive MBA Program to the greater Philadelphia area tonight at the Pyramid Club.
Penn State's Minority MBA Association is hosting "Diversity Appreciation Weekend 2002," April 4-7 at the University Park campus. Diversity Appreciation Weekend will be held in conjunction with Smeal College MBA Visitation Weekend.
Several staff members in Penn State's Smeal College of Business received the "Outstanding Staff Award" at during a luncheon held April 11, 2002, at the Penn Stater Conference Center and Hotel.
Lee A. Showman, a 1997 graduate of Greensburg Salem High School, will serve as student marshal for the U.S. Army Reserve Officer Training Corps, during the Spring Commencement ceremonies for Penn State's Smeal College of Business Administration.
Two forthcoming books written by John W. Bagby, professor of business law in Penn State's Smeal College of Business, will provide an understanding of the major legal issues confronting cyberspace and e-commerce.
There has long been debate over the best source of CEO talent. The dominant model has been to hire from within, though this is changing. Back in the 60's over 90% of CEOs were promoted from within. Today that figure has fallen to less than 70% among public firms. Almost one third of current CEOs of Fortune 1000 corporations were parachuted in from the outside.
Two teams of undergraduate students from Penn State's Smeal College of Business Administration and the College of the Liberal Arts placed second and third in the recent regional competition of the annual "HR Games."