Tuesday, May 26, 2020

BU Renames School After $50 Million Gift

BU Renames School After $50 Million Gift by: John A. Byrne on March 30, 2015 | 0 Comments Comments 255 Views March 30, 2015Allen and Kelli QuestromBoston Universitys School of Management today announced it has received a $50 million naming gift from alumnus and long-time retailing giant Allen Questrom and his wife, Kelli. The gift, the largest ever received by the university, will endow 10 faculty chairs and enable planning to establish a new graduate program facility and result in the renaming of the school to the Questrom School of Business.The gift is one of the largest given to a business school, eclipsed by only 13 other benefactors, including David Booth whose $300 million to the University of Chicago is the largest ever to a business school and Dorothy and Robert Kings $150 million pledge to Stanford Universitys Graduate School of Business.  It should help to raise the profile of the school whose full-time MBA program is ranked 42nd best in the U.S. by PoetsQuants.Like so many big-name donors to business schools, Questrom’s connection with BU set the stage for his long-time career in retailing. In his last semester at the university, Questrom recalls taking an elective course in retailing from the late marketing professor Alan Beckwith. â€Å"I can see his face today, more than 50 years later,† recalls Questrom in an interview with PoetsQuants. â€Å"He was very engaging and he got his students involved through case studies. It wasn’t something I was really interested in and my goal was to be a ski instructor. Unfortunately, we didn’t have any snow that winter and I ended up not working.†A BU PROFESSOR LINED UP THREE INTERVIEWS FOR QUESTROM THAT STARTED HIS CAREER IN RETAILINGQuestrom recalls phoning professor Beckwith with his dilemma. Beckwith returned his call with three interview possibilities: Federated Department Stores and Gimbel’s in New York and Jordan Marsh in Boston. Questrom took a job as a man agement trainee for Federated in 1964 and the rest is history. â€Å"That is how I started in retailing and also met my wife, Kelli. That was 48 years ago,† he says. â€Å"We’ve had a long partnership together, fighting and arguing, but still come up with the right answers most of the time.†The right answer that led to the $50 million gift came from Questrom’s involvement in two separate stints on Boston University’s Board of Trustees but also the strongly held belief that higher education is vital to those who want to climb the ladder of success. â€Å"Allen and I both came from working class families and have been blessed with scholarships and mentorships,† says Kelli Questrom. â€Å"When we took a look at how we could pay it forward it was so clear that after Allens many years as a trustee, higher education was definitely a most worthy cause. One of the biggest problems is one of our biggest blessings: Equal opportunity and the furtheran ce of that. Higher education is the foundation of equal opportunity. If you can’t get a good education in whatever talent you have, you will not be able to pursue happiness.†This is a transformative moment in the history of the School and the University, said BU President Robert A. Brown in a statement. The gift will both propel the School on the path of increased impact and quality and will forever associate it with the name of one of the most successful and highly regarded corporate executives in America, and one of Boston Universitys most distinguished graduates.A RETAILING TURNAROUND EXPERT WITH SOME OF THE BIGGEST RETAIL BRANDSQuestrom, who graduated from the Boston University School of Management in 1964 and is a current member of BUs Board of Trustees, is nationally recognized for his turnaround leadership of several notable department stores and specialty retailers, including JCPenney, Neiman Marcus, Barneys New York, and Federated Department Stores. After Quest rom brought Federated out of bankruptcy, he led the acquisition of rivals The Broadway Stores and the Macy Stores, the combined companies of which later became known as Macys, Inc.His wife is a former fashion promoter and long-time civic volunteer who for  nearly 40 years has worked  with cities mayors and councils, advocating to solve the problems of AIDS, homelessness, womens preventative medicine, and sitting on boards in service of the arts and education.I would hope that students, as they go through school and into a career, will periodically reflect on their life, to pay mental homage to the people who helped them along the way and to recognize as they make good that they have a responsibility to do good, to pay it forward by helping the next generation, said Questrom in a statement.   When one looks at where investment can do the most good, you have to think of innovation in our schools because second only to the positive influence of family values, the route to earned success is to be well educated.DEAN DISCUSSED METRICS, TARGETS GOALS BEHIND THE GIFTKenneth Freeman, whose Allen Questrom deanship and professorship were endowed by an earlier gift from the Questroms, says the new gift  will enable the school to attract outstanding faculty widely recognized for excellence in research and teaching.  It is a pleasure and an honor to have the Questrom name on the school,† Freeman told PoetsQuants. â€Å"We had a number of discussions and it was a very business person to business person conversation. We talked about metrics, targets and goals. I think of Allen and Kelli not only as benefactors but investors in this school. And I’m looking forward to have the opportunity to continue an ongoing dialogue as we thrive to become one of the world’s elite business schools.â€Å"Questrom says it was his confidence in the universitys leadership that ultimately led to the gift. Changing a big university around, and Boston University is a big university, really takes a lot of time, said Questrom. But I have been impressed by the focus of the leadership of the school and with the advisors we have spent a lot of time coming up with criteria on key issues including having the school continue to make progress on its rankings. We have confidence in the leadership and their commitment to make sure we have a fine school that can help people compete in the world.Dean Freeman said the donation also provides seed funding for the planning of the addition of new classroom space that would connect to its existing building. Since moving into its current home in 1996, the school has grown significantly. The current facility, which was originally designed to accommodate 1,700 students, now welcomes more than 3,500 undergraduate and graduate students.(See following page for how the Questroms gift compares to others) Page 1 of 212 »

Saturday, May 16, 2020

Health Psychology - 1720 Words

Cultural barriers affecting the mental health of Indigenous people Cultural barriers certainly have a crucial impact in affecting the mental health of Indigenous people. This is evident as Indigenous people tend to have considerably high levels of stress and anxiety in their lives stemming from the consequences of trauma and grief of stolen generation and dispossession which is intricately linked to mental health and disorder (Craven, 2006).This common pattern of loss of culture, land, voice, family and dignity resulted in poor mental wellbeing for many Indigenous generations over the past century (Brown, 2001). However, problems still continue due to the inadequate research in the mental health of indigenous people. This results in†¦show more content†¦However, Indigenous teenagers might avoid accessing traditional psychological services for support because of the cultural biases that exist within many of the mental health services. For instance, Western counselling and psychotherapy techniques focus mainly on independence and individuali ty, whereas indigenous cultures are collectivist and emphasise social interdependence. If a mental health professional is unfamiliar and unaware with the cultural norms of Indigenous people, such as emotional expression, these expressions may be misinterpreted and could affect the course of the treatment (Craven, 2006).Thus, indigenous teenagers will find Western approaches ineffective as they do not suit their cultural contexts (Paradies, 2006). Paradies, (2006) has found that almost one third of Indigenous youth were bullied sometime at school, with the patterns of bullying being very similar for males and females. The most frequent ages for being bullied occurred at 12 and 17 years and it was also found that if the Indigenous youth’s primary carers were both non-Indigenous, they were significantly more likely to be bullied. With regard to problematic behaviours, it was found that bullying was associated with increased levels of smoking and marijuana use. One in five Indigenous youth reported being discriminated against because of their Aboriginality. Like bullying, racism was associated with increased smoking and marijuana use andShow MoreRelatedThe Health Of Health Psychology Essay1973 Words   |  8 Pageseffectiveness of health psychology as it relates to improving health care quality†. The potential research question states, the role of health psychologists in health care delivery. As a part of my researc h I will explore areas associated with my thesis statement. 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Wednesday, May 6, 2020

Stress And Its Effect On Stress Essay - 881 Words

Stress’s definition according to college text book Psychology in my life, stress is; a group of behavioral, mental and physical processes occurring when events match or exceed the organism’s ability to respond in a healthy way. When we think about stress it comes across as something that’s only negative, but stress in moderation can be good. This type of stress is known as being acute stress, it’s good and bad stress. When frequently experiencing acute stress for long periods at a time it’s becomes a little more sever stress know as episodic. Although episodic stress isn’t the most serve kind of stress, chronic stress is the more deadly types of stress. Theorist found that we experience things out of our control, the body’s natural response is to stress using perception and interpretation to experience an emotion. There are classifications for different types of personalities because people experience stress differently than others. Al though many thing stress us out there are plenty of ways to cope with stress in a healthy way before it’s too late. Stress is a part of our everyday lives. Theorists William James and Carl Lange, 19th century scholars, where one of the first to connect stress with emotions. Their theory was when a person experiences arousal from and event, the automatic nervous system (A.N.S.) reacts by making the heart beat faster, increase perspiration, and muscle tensions. The brains interpretation to that is an emotion (Sarah Mae Sincero, 2012). James andShow MoreRelatedThe Effects Of Stress On Stress And Stress864 Words   |  4 PagesMerriam-Webster defines stress as â€Å"a physical, chemical, or emotional factor that causes bodily or mental tension and may be a factor in disease causation† (Stress, 2015). Many people think of stress as being overworked or overwhelmed, but stress can be caused by all facets of everyday life. 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Tuesday, May 5, 2020

Business Canvas Model of Commonwealth Bank-Samples for Students

Question: Determine the effectiveness of business model and smart-connected devices in relation with the Commonwealth Bank. Answer: Commonwealth Bank is a multinational Australian Bank headquartered in Sydney. Along with Australia, Commonwealth Bank is situated in various other parts of the globe such as New Zealand, Asia, and United States and in United Kingdom. Initially, it was founded by Australian Government but later on it was fully privatised in 1996 on listed on Australian Stock Exchange in 1991. Currently, bank has more than 1100 branches along with 51,800 employees across worldwide locations (Commonwealth bank, 2018). Commonwealth Bank is one of the largest companies in terms of revenues in global banking industry. Success and growth of an organization is dependent over its business model, business ethics and the strategies adopted to match up with the latest trends of market, to fulfil its customers needs, as well as to build an effective image amongst the competitive business environment. In this business essay, business model canvas of Commonwealth Bank will be discussed. Along with the business mode l, disruption and innovation will also be discussed in relation with the analysis of threats and opportunities of utilisation of smart-connected devices will also be covered under this business essay. This essay will help to determine the effectiveness of business model and smart-connected devices in relation with the Commonwealth Bank. Business model and disruption In order to gain success and growth for a longer period of time, organizations are required to adopt appropriate business model and disruptive techniques. Both these terms plays vital role in an organizational life-cycle. Business model describes the procedure of how an organization delivers, creates, and captures the value in correlation with the social, economic, cultural and in other contexts. Construction of business model is a crucial segment of business strategies (Osterwalder Pigneur, 2010). Disruptive innovation is used in the businesses to form new markets and value network and disrupts existing markets and value networks in order to enhance the productivity and efficiency. All innovations are not disruptive but all disruptions are tending to be innovations. For example: when automobiles were initially introduced in the market, it did not disrupt the market of horse-down vehicles. But when mobile phones were introduced in the market, it disrupted the whole market of other medium of communication such as landline phones, etc. It is known as disruptive innovation (Porter Heppelmann, 2014). Business model canvas framework is introduced by Osterwalder, et al. (2011) in order to combine all the components of a business together. This framework acts as the vital strategy included in the strategic management which is mainly used for developing business models. This framework includes all crucial elements of business such as products description, value propositions, resources, customers and other required resources (Osterwalder, et. al., 2011). Another aim of the business model is to perform well and in an effective manner in dynamic business conditions. All the functionalities are managed in the most appropriate manner which is required to obtain expected outcomes. Along with this, business model also helps the organization to make optimum utilisation of the available resources with the objective of delivering value to its targeted demographics (Porter Heppelmann, 2015). Along with the business model canvas framework for building the effective and result oriented business model, disruptive innovation model has also been adopted by the companies nowadays with the objective of uplifting the market image along with gaining competitive advantage. Adaptation of disruptive innovation leads to generate positive outcomes and develops unique value dimensions to serve the potential customers in the most appropriate manner (Guttentag, 2015). Some of them value dimensions served to the customers are simplicity, reduced prices; enhance quality, convenience, etc. Disruptive innovation brings unique ways for the organizations to move towards success, growth and other variables which are necessary to attain competitive advantage in the target market. In relation with the disruptive innovation technology, smart-connected devices are also growing rapidly in the market. These devices are assisting the companies to move towards automation from manual work procedure. Apa rt from this, smart-connected devices reduce chance of men-made errors and other glitches which could reduce the efficiency of an organization. With the help of disruptive technology, organizations are using smart-connected devices in their operations with the objective of enhancing the efficiency and productivity of the organization (Christensen, et. al., 2011). Software, sensors, and other technological devices which ease the organizational functionality and increase the efficiency of organization are known as smart-connected devices. Technologies help the organization to make their operation effective and quick and the same goes with smart-connected devices. These devices form a way between the customers and organization in order to share information, raising a query, etc. The data collected from these products can be then analysed to inform decision-making, enable operational efficiencies and continuously improve the performance of the product (Chesbrough, 2010). Numerous products and services are being delivered by the Commonwealth Bank to its customers. Services such as financial services, investment schemes, insurance plans, saving, current and other types of bank accounts, broking services, retirement and maturity schemes, etc. are provided by Commonwealth Bank. Major reason of organizational success and expansion in various parts of the globe is adaptation of trending techniques and effective business model (King Baatartogtokh, 2015). Apart from this, Commonwealth Banks success could also be measured by the utilisation of smart-connected devices in their operations. Certain disruptive innovations made by the team of Commonwealth Bank are smart machines, Block-chains, Internet of Things, big data and smart-chipped cards. The smart-chipped cards have unique features and provide various advantages to its users. Generally, debit cards are being used for transacting and shopping purposes but debit cards issued by Commonwealth Bank are less w ith unique safety features. These safety features saves customers of bank from fraudulent activities as well as in the scenarios of card lost, it could be deactivated easily by a mobile application only. These are certain crucial innovations made by Commonwealth bank to enhance its effectiveness (Demil Lecocq, 2010). It has been observed that smart-connected devices bring various opportunities and threats for the organization. In relation with the adaptation of smart-connected devices, Commonwealth bank has introduced smart machine in their operations which enables the bank to provide unique financial services to its potential customers across the globe. The smart-machine is introduced with the help of sensors and advanced technology which enables the bank to manage and record the information regarding transactions made by its customers (Fadlullah, et. al., 2011). This machine has the capability to manage all the branches of banks interlinked with each other. Along with these services and facilities, Commonwealth Bank also provide online banking, online account opening, and other crucial services to its customers. With the help of these technology and advancements, organization has attained growth related attributes along with an impressive growth rate (Christensen, Raynor McDonald, 2016). Along with the opportunities to grow and prosper, there are various challenges and threats linked with the usage of smart-connected devices. One of the biggest challenges is dependency over technology and automation. Due to this, manual processing of functionalities is getting declined whereas users also face certain challenges such as losing the passwords for online banking. Apart from this, old aged people are also facing challenges in order to make use these technologies (Sun, et. al., 2016). In relevance with these challenges, it is required for the management of bank to provide adequate information of using these technologies along with the procedure of recovering the passwords. The major threat of smart-connected devices is the fraudulent activities because card lost; leakage of confidential credentials of customers could lead to big loss for the bank as well as for its users. Thus, it has been recommended to the bank and its users to keep their confidential credentials in safe and secure place through which these technologies and advanced could be utilised in an optimum manner (Yu Hang, 2010). Key Partners Firms issuing credit cards Subsidiary companies in other parts of the globe Local clients in other countries Stakeholders Security providing firms Vault services providing firms Key Activities Retail banking Investment schemes Credit card facility Insurance plans Risk evaluation techniques Value Proposition Quality financial services Reliable investment schemes Customer-centric retail banking services Brand equity in banking sector, Australia Practical growth Provides services to local and small banks and financial institutions Customer Relationships Renders quality services to its customers (Harwood, et. al., 2014). Practice various functionalities in relevance with making customer relations strong Customer centric approach Takes customer feedbacks on priority Brand image Customer Segments All customer segments Business organization, government, and all people Credit card users Key Resources Wide and effective distribution network Operates from more than 1100 branches worldwide Brand image of being one of the largest banks in terms of revenues, service quality, etc. across the globe ATM Effective men-power Skilled technicians Channels Own communication channels Official website Other social media platforms Cost Structure Salaries to employees Remuneration to financial experts Administrative costs Other financial costs Maintenance, security, interest, etc. fees. Rewards and returns Revenue Streams Interest on loans Interest on credit card payments Fees for overdraft facility Debit card fees Other services fees and fees on non-maintenance of minimum balance in account. Above discussed business canvas model is adopted by Commonwealth Bank, Australia. This model has made the organization effective enough to achieve desired goals and objectives. Along with this, it has been observed that for effective management of business practices, appropriate model, structure or a framework is required. With the help of this model, organizational capabilities could also be compared with its achievements and gaps recognised could also be fulfilled in an effective and appropriate manner References Chesbrough, H., 2010. Business model innovation: opportunities and barriers.Long range planning,43(2-3), pp.354-363. Christensen, C. M., Horn, M. B., Caldera, L., Soares, L. (2011). Disrupting College: How Disruptive Innovation Can Deliver Quality and Affordability to Postsecondary Education.Innosight Institute. Christensen, C. M., Raynor, M. E., McDonald, R. (2016). What is disruptive Innovation.The Encyclopedia of Human-Computer Interaction,2. Commonwealth Bank. (2018). Harwood, J., Dooley, J. J., Scott, A. J., Joiner, R. (2014). Constantly connectedThe effects of smart-devices on mental health.Computers in Human Behavior,34, 267-272.accessed from: https://www.commbank.com.au/about-us.html?ei=CB-footer_about-commbank [online]. [21st April 2018]. Demil, B. and Lecocq, X., 2010. Business model evolution: in search of dynamic consistency.Long range planning,43(2-3), pp.227-246. Fadlullah, Z. M., Fouda, M. M., Kato, N., Takeuchi, A., Iwasaki, N., Nozaki, Y. (2011). Toward intelligent machine-to-machine communications in smart grid.IEEE Communications Magazine,49(4). Guttentag, D. (2015). Airbnb: disruptive innovation and the rise of an informal tourism accommodation sector.Current issues in Tourism,18(12), 1192-1217. Harwood, J., Dooley, J. J., Scott, A. J., Joiner, R. (2014). Constantly connectedThe effects of smart-devices on mental health.Computers in Human Behavior,34, 267-272. King, A. A., Baatartogtokh, B. (2015). How useful is the theory of disruptive innovation?.MIT Sloan Management Review,57(1), 77. Osterwalder, A., Pigneur, Y. (2010).Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley Sons. Osterwalder, A., Pigneur, Y., Oliveira, M. A. Y., Ferreira, J. J. P. (2011). Business Model Generation: A handbook for visionaries, game changers and challengers.African journal of business management,5(7), 8918-8932. Porter, M. E., Heppelmann, J. E. (2014). How smart, connected products are transforming competition.Harvard Business Review,92(11), 64-88. Porter, M. E., Heppelmann, J. E. (2015). How smart, connected products are transforming companies.Harvard Business Review,93(10), 96-114. Sun, Y., Song, H., Jara, A. J., Bie, R. (2016). Internet of things and big data analytics for smart and connected communities.IEEE Access,4, 766-773. Yu, D., Hang, C. C. (2010). A reflective review of disruptive innovation theory.International journal of management reviews,12(4), 435-452.