Each week we collect all the MBA news that’s fit to print and provide a quick overview of the latest trending topics from top schools around the world.
Here’s your quick MBA News You Need digest for the week of June 28, 2018.
Washington University’s Olin Business School Names New Career Center Director
On July 9th, Washington Olin appointed Jennifer Whitten as its associate dean and director of the Weston Career Center. As the primary driver of the Weston Career Center team, she will help guide students toward their chosen career paths. She will also expand business development opportunities by connecting students with Olin’s robust alumni network.
Whitten was previously the director of career services at ASU’s W.P. Carey School of Business, where she managed the career support portfolio of four MBA programs, 10 masters’ programs, and alumni career services. During her tenure at Carey, she significantly increased student engagement and employment rates.
To learn more about Whitten’s new role as well as the unique experience she brings to Olin, read the original press release.
Student Funds Let B-School Students Learn to Invest Using Real Money
The theory of investing can sometimes feel quite removed from the actual act of investing, which is precisely why hands-on experience is so necessary. Enter: student-led investment funds. These funds present unique opportunities for business school students to cut their teeth managing money and turn theory into practice.
In 2016, Columbia Business School announced the launch of the 5x5x5 Student Value Investment Fund backed by Thomas Russo, a Pennsylvania stock picker. The fund allows students to invest $250,000 a year in five investment ideas put together by fellow students. “Tom [Russo’s] goal was to get students to push their investment horizons out—to think about what can go in the portfolio that will be held and that they will be accountable for in five years’ time,” explained Meredith Trivedi, the administrative director of the Heilbrunn Center at Columbia. (Financial Times)
Columbia MBA Students Help Combat Hair Loss
Since 1976, Hair Club has helped more than 600,000 clients with hair loss solutions. The overwhelming success of the company has not hindered Hair Club’s quest to innovate—a quest that recently involved sourcing fresh ideas from Columbia Business School MBA students.
Students took part in a case study within the semester-long course Building the Sales Machine. MBA students throughout the term broke into teams to review various aspects of Hair Club from their sales training and marketing collateral to their consultations and clients. At the end of the semester, students presented their ideas to the Hair Club executive team.
“The students’ feedback was extremely valuable,” said Revital (Rev) Elder, a sales and marketing analyst for Hair Club. “We’re in this business all the time, but they brought an entirely different perspective. Their presentations contained very creative ideas—ideas we should be looking at.”
Read more on the Hair Club blog.
Goldman Sachs Pledges $500 Million to Support Female Founders
There is a conspicuous gender gap when it comes to fund managers and female entrepreneurs. In an attempt to help narrow that gap, Goldman Sachs Group Inc. announced a $500 million investment in businesses and financial products run by women. Dubbed “Launch with GS,” the program uses firm and client capital to invest in companies run and founded by women. In addition, Goldman Sachs announced the launch of a fund focused on female managers across private equity strategies.
The goal is to help balance the male-dominated financial services industry. “Changing that dynamic is going to take time, and it’s going to take a concerted effort by all organizations to foster environments that allow talent to thrive,” said Stephanie Cohen, Goldman’s chief strategy officer. “Diversity is also something that companies can drive through their core commercial activities.” (Bloomberg)
CEOs Across Industries Unite in Descrying Separation of Families at U.S. Borders
As more and more news stories emerge revealing the details behind the separation of children from their families at the U.S. border, top executives have begun to speak out. The CEOs of Apple, Goldman Sachs, Chobani, Facebook, and AirBNB, among others, have all condemned the practice and called on the government to put an immediate stop to it.
Apple CEO Tim Cook called the practice of separating families “inhumane” and “heartbreaking,” while Cisco CEO Chuck Robbins described it as “cruel and contrary to American values.” Twitter CEO Jack Dorsey tweeted, “Do everything it takes to #KeepFamiliesTogether.”
This is far from the first time American CEOs have called out President Trump; many business leaders spoke out against his decision to abandon the Paris climate agreement, while many CEOs left his business advisory council when President Trump blamed both sides for the white supremacists’ violence in Virginia. (CNN Money)
NBA Player Dwayne Wade Teaches Rising College Seniors at HBS
As part of Harvard Business School’s recent Summer Venture in Management Program (SVMP), professional NBA player Dwayne Wade spoke to a number of rising college seniors over a one-week period. Wade has been a regular guest speaker at HBS since Professor Anita Elberse invited to take part in a HBS case study focused on brand partnerships. In this latest speaking engagement, Wade discussed his background as a skilled business practitioner and brand builder.
“I’m thrilled to have the opportunity to return to such a highly respected learning community as Harvard Business School,” noted Wade. “I thrive on challenge, and being at Harvard as a student and speaker in Professor Elberse’s class challenged me in completely new ways. I hope to do the same with the students participating in the SVMP program.” (Harvard Newsroom)
