Category: Graduate Students
Bridging Management and Global Health & Development
Students from the Health Sector Management Program at Boston University have founded the Global Health and Development Association (GHD). This new organization seeks to bridge the divide between management and global health and development, while directly connecting and involving BU MBA students with issues that affect the developing world.
“We seek to better understand these complex issues of health and development so that we can learn to address them through innovation and effective management,” GHD members explain, through events such as speakers and panels with industry leaders, international collaborative consulting opportunities, alliances with other schools and departments across the University, and social and networking events. “The GHD Association is also a great addition to two clubs already operating within the Health Sector Management Program—the Bio Business Organization and the Health Services Management Association because we present the perspective of providing care in developing countries, emerging economies, and low resource settings,” adds student Meg Meyer (MBA’12).
Participants include primarily first- and second-year MBA students across many concentrations, including the Health Sector Management Program as well as students from the Professional Evening MBA Program, the School of Public Health, the School of Engineering, and the School of Medicine at Boston University.
Recent and upcoming events sponsored by GHD include:
- Friends of Ngong Road: Using Business Principals to Launch and Grow an International NGO: On Friday, October 14th, 2011, Amy Johnson, Board Member/CFO, and Peter Ndungu, Executive Director, both from Friends of Ngong Road, a Nairobi, Kenya-based NGO, discussed starting and growing an international non-profit using business principles. They covered topics such as creating strong financial controls and metrics; overcoming growing pains and pitfalls; using technology to your advantage; and working with different currencies.
- Global Health and Diagnostics: Featuring Dr. Una Ryan, President and CEO, Diagnostics for All, discussing her organization’s dedication to creating low-cost, easy-to-use, point-of-care diagnostics specifically designed for the 60% of the developing world that lives beyond the reach of medical access. More
- Spring 2012 semester back-to schools networking event, co-sponsored by the Bio Business Organization and the Health Services Management Association
- Fundraiser auction supporting a rural clinic in Palwal, India—one of the destinations of the School’s India Field Seminar
- Upcoming Speaker Series event in collaboration with Boston University School of Biomedical Engineering, planned for March 29, 2012, and featuring three speakers discussion their experiences in the fields of business, engineering, and public health.
- Discussion and collaborative learning experience between School of Management and School Engineering students, focused on exploring innovative business models for products that have been developed at BU School of Engineering, including a counterfeit drug detector and a device to diagnose pneumonia.
- Participation in the Emory for a Global Health Case Competition (March 30th-April 1st)
Explains Meyer, “This club is important to MBAs because many students are interested in or have experience with international health but aren’t quite sure how to integrate it into their career or are interested in learning more about it. The GHD club gives them an opportunity to hear speakers and meet people with expertise in this area. It’s also a great opportunity for collaboration across different schools within Boston University. In the future,” Meyer adds, “we hope to continue connecting with other schools throughout BU and establish yearly signature events.”
The Executive MBA 24 cohort is currently traveling through India with the 2012 EMBA International Field Seminar
BU’s Executive MBA Program’s International Trip
Strategy & Innovation Professor and faculty director of EMBA Pete Russo discusses the global focus and international components of the program.
About the EMBA International Field Seminar
EMBA students get the opportunity to put the curriculum into action in a global context during the international seminar in Residence Week 3. The seminar provides hands-on experience making business contacts abroad, conducting research on countries and industries overseas, and pulling together — quickly and efficiently — a high-performing team. During the seminar, students have the opportunity to attend presentations and discussions, conduct site visits, and engage with local organizations in team assignments. More Information
Boston University’s Executive MBA program (EMBA) is designed for mid-to-senior level managers with 10+ years of professional experience. The program focuses on a cross-functional understanding of the interdependencies among organizations’ components. It also offers a strong global component through a concentrated international module and trip designed to provide an understanding of the many factors that frame the business context in a range of developed and developing economies. More Information
Hsu Dissertation Honored by Marketing Science Institute
Product recalls: companies hate them; customers get annoyed by them. But how companies handle them makes all the difference in the world.
Liwu Hsu (PhD’12), who will defend his dissertation this spring, won a prestigious honorable mention in the 2011 Alden G. Clayton Doctoral Dissertation Proposal Competition for his dissertation “Can Online Chatter Kill a Giant? Insights into the Role of Brand Equity and Social Media during a Product Recall Crisis.”
According to his doctoral advisor, Professor Shuba Srinivasan, “From 80 submitted papers, 168 marketing scholars selected one winner and four honorable mentions. It’s a great honor for Liwu and the department.” The annual award is given by the Marketing Science Institute. Hsu will begin as an assistant professor at the University of Alabama at Huntsville College of Business Administration in Fall 2012.
In his study, Hsu looks at how social media can help or hurt a company’s shareholder value in a product recall crisis situation and provides insight into the potential moderators of brand equity. This study builds on brand research previously published by Professor Susan Fournier, one of his doctoral committee members.
In the event of a product recall, when a company denies a problem or even hesitates to acknowledge a rumor of recall, social media gives consumers the power to tarnish a company’s reputation, increasing investors’ concern about future company cash flows. Investors fear the initial costs of product recall and replacement, potential lawsuits, and potential new regulations, and stock value and reputation can take a big hit (even if it’s temporary).
A big brand company can’t readily hide its faults and provide an insurance-like protection of shareholder value. Company denials get countered by user stories and blogs spread the word. That in turn generates more criticism, and generates more ill will. “Negative buzz spreads quickly via social media,” says Hsu, “and worse still, social media enables and encourages consumers to be more critical of companies and their brands. Moreover, it is increasingly difficult for a company to bury or hide from its mistakes on the web.”
Hsu recommends that in a PR crisis, the CEO should respond proactively. Immediate solutions include creating a post, perhaps a video, to air out the problem, and the company’s solution, immediately. “Share information efficiently, completely, and directly with consumers,” he says. In recent years, Hsu explains, marketing dollars have increasingly shifted from traditional communication vehicles towards the Web 2.0 platform. Companies are learning that it is important to be continually communicating online, keeping the channels open for when the need arises.
Recent business scandals demonstrate that it’s better to acknowledge a negative event quickly, admit fault, and then move on. The Internet assures that bad secrets never stay hidden for long.
Health Sector MBAs Solve Digital Marketing Case
By Lauren Dezenski
The team representing Boston University’s Health Care Management MBA program won it all on February 24 at the MIT Sloan 2012 Healthcare Case Competition. The theme was Digital Marketing for Healthcare.
Michael Barrett, Timothy Chanoux, Anshuman Mirani, and Matthew Scott (all MBA’13) shared the $4,000 first-place check.
The BU MBA Health Sector students faced teams from Harvard, MIT, Babson, and Cornell. “It was really an honor to represent BU in this competition against so many good schools. It was an honor and exciting to come out on top,” said Chanoux.
“Plus, we had a great time. It was great to meet a number of teams that all had great ideas,” Mirani added.
First, the teams had to submit a qualifying application. Of the eighteen submissions, ten teams, including BU, were chosen for the competition. “We were given the case one week in advance of the presentation day,” Mirani said. “We used the first days for brainstorming to be sure to cover all of our bases. That process really helped, and it’s something that is a product of our education here at BU. At the competition, the Q&A’s went really well, specifically because we debated all of these things among ourselves beforehand.”
After making it through one round of presenting followed by a Q&A session, BU and one of three MIT teams were named the two finalists. Following the two presentations, “it took the judges 30 to 45 minutes to deliberate. We were expecting it to be ten minutes, but it shows how tough the competition was,” said Chanoux.
The case was about developing a strategy for the launch of a kidney cancer drug by AVEO Pharmaceuticals (the sponsoring firm), which has just passed Phase III trials. Given the relatively small size and constrained marketing budget for AVEO, the teams had to design a digital media strategy. “We especially liked that all of the information in the case was actual market research done by AVEO, and it was a real business problem that they are currently facing,” Mirani continued. “The judging panel included senior members of the management team of the company and other senior leaders from consulting as well as other health care organizations such as Veritas Health Systems.”
“General feedback from the judges, and the reason we probably won,” said Scott, “was that we had three very different concepts. We were the only group to talk about accountable care; we were the only team to come up with a name for the drug; and we were the only team to brand the research effort. Our BU preparation absolutely helped, especially with the accountable care. The education helped us have a good sense of these things. When we got to finals, we really won with our Q&A.”
From January 1 through January 14, 20 MBA students traveled through India with the 2012 India Field Seminar.
About the India Field Seminar
The Indian Field Seminar is focused on health sector management and the rapidly changing global forces of the health sector as they intersect with the dynamics of an emerging country. The program includes visits to government agencies, hospitals, pharmaceutical companies, health sector start-up companies, health centers, research laboratories, and academic research settings. The seminar is designed to help students examine the emerging global market in the health sector and understand the complex interacting dynamics of economic development, international competition, government policy, and the entrepreneurial initiative in a key emerging country. More Information
About the International Field Seminars
International Field Seminars are offered to those graduate students who seek to learn outside the classroom and beyond the book. Students begin their studies in a Boston classroom with preliminary research and complete the program abroad. More Information
Boston University School of Management students from the Mathematical Finance Program gave a strong showing at the first annual International Association of Financial Engineers (IAFE) Competition. The event was open to students enrolled in mathematical finance and economics (or related) programs at schools that are IAFE Academic Program Affiliates.
Twenty-seven teams from fifteen financial engineering programs entered the competition. They were tasked with solving a challenge related to the analysis and modeling of financial crises and sovereign risk, which was selected for its rigor and relevance by the Honorary Chair and IAFE Board of Directors.
The Boston University Math Finance Team included Ning Cheng, Jianing Liu, Quang Pham Huy, Jessica Ahn, and Sichares Suppapanya (all MSMF ’12).
The winning team, from the University of California, Berkeley, was announced at the Financial Engineer of the Year Dinner in New York City on February 2nd, 2012. They were awarded a $1,000.00 prize and an invitation to present their solution at a future IAFE event in New York.
1st place team to compete in International Tech Strategy Case Competition in March
During the weekend of January 28-29, 12 teams of Boston University School of Management students participated in the School’s Internal Tech Strategy Case Competition.
|Congratulations to the winners|
1st Place, Team 12:
Mike Rabinovich (MBA ’12)
2nd Place, Team 3:
Corey Mathis (MBA ’12)
3rd Place, Team 7:
Lara Wasowski (MS-MBA ’13)
The 1st place team, Team 12, will move on to compete against 15 other schools in the Seventh Annual International Tech Strategy Case Competition March 29-31, 2012, hosted by Boston University School of Management in collaboration with Ericsson.
The competition recognizes the best up-and-coming MBA strategists who understand the transformative power of IT in business, and enables student teams to showcase their talents to top players in the technology and telecom fields.
For more information, please contact firstname.lastname@example.org/.
MSMF By the Numbers
Class of 2013: For our newest MSMF Program class, graduating 2013, we welcomed 46 students from 11 countries. By citizenship, the statistics are:
- 2% Canada
- 2% Ghana
- 17% India
- 2% Lebanon
- 2% Morocco
- 22% China
- 7% South Korea
- 2% Taiwan
- 4% Turkey
- 37% USA
- 2% Vietnam
Class of 2012: To celebrate our first graduating class of the new 1 ½-year program configuration (as MSMF used to be a single-year program), we hosted a graduation brunch on Friday, December 9, 2011, featuring accolades and the presentation “A Look Back at the Class of 2012.”
The class of 2012 did an exceptional job completing internships during the summer of 2011. Forty-four out of 46 students, 96% of the class, participated in this highly practical industry training.
During the fall 2011 semester, the Mathematical Finance Program held a series of social events, including our Power of Ten celebration and conference, a speaker series, and our annual holiday party for first- and second-year students. The program also hosted various social gatherings such as Pub Nights at the BU Pub and Cornwall’s and trivia night at The White Horse in Allston. Get more details below, including a slideshow with pictures from these events.
The Power of Ten: Math Finance Anniversary Celebration and Conference
Saturday October 1, 2011
This event, held at Boston University School of Management, was a huge success, drawing approximately 150 Math Finance students, Finance faculty, and BU community members. The day included:
Lunch for alumni
Conference and Panel of Speakers:
“Chasing Bernie Madoff”: Harry Markopolos, Independent Financial Fraud Investigator and Bernie Madoff whistleblower
“A Reflection of Financial Crisis”: David Ye, Chief Risk Officer for State Street Global Markets
“A New Measure of Systemic Risk: Applications for Investors and Regulators”: Mark Kritzman, President and Chief Investment Officer of Windham Capital Management
Mathematical Finance Alumni Career Panel:
- Alex Brill, (MSMF ’01), CEO, Matrix Global Advisors; Research Fellow, American Enterprise Institute
- Nidhi Azar (MSMF ’01), Risk Manager, Fixed Income Credit, Barclays Capital
- Brandon Farr (MSMF ’04), Vice President, Investment Risk Management State Street Global Advisors
- Cel Kulasekaran (MSMF ’04), Senior Research Associate, Windham Capital Management
- Leon Zhang (MSMF ’07), Financial Risk Manager, Everbright Securities, Co, Ltd.
- Christopher Glynn (MSMF ’09), Jr. Quantitative Research Analyst, Boston Advisors
- Olesya Shubov (MSMF ’09), Assistant Vice President, Strategy Advisory Group, Jennison Associates
Program Reception, School of Management Atrium
Alumni Celebratory Dinner, Trustees’ Lounge
See pictures from this event in our slideshow.
MF Program 2011 Speaker Series
- November 7, 2011: Dmitry Kiselyov, CFA Manager, Complex Securities Group, Ernst & Young, LLP, “Valuation of Credit Instruments”*
- October 24, 2011: Simon Tuck, Director, Catastrophe Management, Liberty Mutual, “Catastrophe Insurance: Quantitative approach”*
- October 7, 2011: Kishore Karunakaran, President and Chief Operating Officer, FFCM LLC, “Market Neutral ETFs and Their Applications
- September 23, 2011: Dragan Skoko, Director, Trading, Batterymarch Financial Management, Inc., “The Anatomy of a Buyside Trading Desk.” This talk was followed by a reception.
- August 31, 2011: Crystal Fantry, Senior Educational Outreach Specialist, Wolfram Research, “Introduction to Mathematica”
- August 3, 2011: Francesco Pasquariello, Sales Representative, Bloomberg, “Introduction to Macro Tools and Single Security Analysis”
- May 3, 2011: Tarek Eldin, Head of Quantitative Research, Geode Capital Management, “Quantitative Analysis for Asset Management”*
- April 28, 2011: Matthew Appel, CFA, Vice President, Risk Services, State Street, “Investment Analytics”*
*Talk arranged by Kateryna Kruzement-Prykhodko (MSMF, January 2012)
Get more recent MF news and pictures in the news story “Mathematical Finance Program’s Latest Statistics“
By Natalie Truesdell (MBA, MPH ‘07) and Naomi Muse (MBA ’07)
The Health Sector Management Alumni Mentorship program was developed in the fall of 2011 in response both to the alumni board’s interest in further connecting with students and to feedback from a broad alumni survey indicating that graduates were interested in structured mentorship opportunities. The program was developed as a group mentoring model pairing a single alumnus with several students to facilitate mutual learning and maximize the alumni-matching process.
The program spans six months, from October through April of each academic year. Students and mentors are matched based on career interests, dual-degree status, and students’ specific areas of desired learning. Students and mentors coordinate their own schedules with the expectation that the groups will meet once a month over the six-month period.
This month, we are collecting mid-point feedback from student and mentors that will be used to further develop and improve the program. Thus far, we have received very positive comments from students. Below are examples from two students. The first is a “career switcher” and thus highly eager to have the opportunity to develop a relationship with someone in the health sector field:
“It has been invaluable to be in contact with a professional who has been through the same program I am in now, especially as a PEMBA and career switcher. My mentor has been really great at connecting me with other alumni and has opened me up to a number of career options.”
Another student explains,
“I’ve been able to bring what I’ve learned to the classroom, and ask questions of my mentor about how the concepts I am learning apply in the ‘real world.’ I have found that my classmates in other disciplines—finance, for example—are jealous of the alumni mentorship opportunity I have had.”
- Number of students in the program: 29
- Number of alumni mentors: 10
- Alumni class years represented: 1995- 2011
- Health sector fields represented and number of participating alumni in each field:
- Biotechology: 1
- Pharma: 1
- Medical devices: 1
- Consulting: 3
- Health care delivery: 4
- Job positions and companies of participating alumni:
- Sales, New England Area Account Manager, BioSero, LLC
- Manager, ECG Management Consultants
- CEO, Propel Careers
- TeleHealth and TeleMedicine Program Manager, Children’s Hospital Boston
- Consultant, PricewaterhouseCoopers
- Vice President of Operations, post acquisition integration, Beacon Health Strategies
- Health Industries Associate, PricewaterhouseCoopers
- Product Manager, Philips Healthcare, (looking at product marketing, strategy, roadmaps and business development)
- Advisory Manager, PricewaterhouseCoopers
- Director of Planning, Covenant Health Systems