Five New Year’s Resolutions for Business Students

America’s iconic New Year's Eve celebration at Times Square in New York City. Resolutions to better yourself professionally and academically can make 2016 a banner year for Mihaylo business students. Photo from Wikimedia Commons.

America’s iconic New Year’s Eve celebration at Times Square in New York City. Resolutions to better yourself professionally and academically can make 2016 a banner year for Mihaylo business students. Photo from Wikimedia Commons.

Want to prepare yourself for a challenging and rewarding career in 2016? These five resolutions will prime Mihaylo students for success in the contemporary business world.

According to Forbes, 40% to 50% of Americans make New Year’s resolutions, yet only 8% achieve their goals. For business students who want to position themselves on the pathway to success in 2016, following are five resolutions for career and academic success.

  1. Make Your Web Presence Professional

Social media is the primary communications medium for many of today’s college students. According to AdWeek, 71% of millennials check social media at least once per day. Entrants into the business world need to ensure that their digital footprint is professional, because 51% of employers check the social media of job applicants, according to CareerBuilder in 2014. That means ensuring that your public Facebook photos don’t show you passed out after a night of wild partying.

  1. Leverage Career-Oriented Sites Like LinkedIn or About.me

LinkedIn may not be as spirited as Facebook or Instagram, but it is vital for career networking. The site had nearly 400 million users as of mid-2015 and is widely used by employers and potential investors and partners. Another great tool is About.me, which can act as a platform to show work samples, résumé information and visuals.

  1. Develop Your Personal Portfolio

Consider creating both a digital and print portfolio of your work from class assignments, internships, volunteerism and jobs. Including group assignments and projects shows that you are a team player, but note what parts of the finished project you completed. Also, make sure you have your employer’s permission before including any work samples. An organized and diverse portfolio can land you a job when interviewing and assist you in getting into graduate or doctoral programs or securing support for a business startup plan.

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Holiday Sales Are Up, But the Retail World is Changing, Cal State Fullerton Economics Professor Says

Shoppers crowd into a Target store on Black Friday, the traditional start of the holiday shopping season. The National Retail Federation is forecasting a sales increase of 3.7% this year. Photo from Wikimedia Commons.

Shoppers crowd into a Target store on Black Friday, the traditional start of the holiday shopping season. The National Retail Federation is forecasting a sales increase of 3.7% this year. Photo from Wikimedia Commons.

The National Retail Federation forecasts that this year’s holiday sales season will see an increase of 3.7%, with online and value-conscious purchases leading the uptick. Mihaylo Economics Professor Aaron Popp discusses the outlook for holiday sales and the trends transforming retail.

After years of restraint due to the Great Recession and its aftermath, consumers seem to finally be spending more during the holiday season. The National Retail Federation forecasted holiday sales during the November and December period to increase by 3.7% this year, slightly below last year’s growth of 4.1%, but well above the 10-year average increase of 2.5%. Seasonal employment was projected to be between 700,000 and 750,000 positions nationwide, similar to 2014 figures.

“As the unemployment rate continues to fall and the economy continues to grow, albeit at a relatively slow rate, people will spend more on holiday shopping,” Mihaylo Economics Professor Aaron Popp says.

While American shoppers are spending again, several trends are transforming the sales landscape. Consumers remain value-conscious, and online sales are rising rapidly, projected to increase by as much as 8% this year. Additionally, there are indications that Black Friday, which has become synonymous with the start of the shopping season, may be in decline.

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Mihaylo Economics Professors and SBDC Release their First Annual International Trade Forecast

The Port of Long Beach is among the world’s busiest port facilities. The 2015 International Trade Forecast notes that California is second in the nation in total export-related employment. Image from Wikimedia Commons.

The Port of Long Beach is among the world’s busiest port facilities. The 2015 International Trade Forecast notes that California is second in the nation in total export-related employment. Image from Wikimedia Commons.

The Mihaylo office of the Small Business Development Center (SBDC) hosted the first annual Orange County and Southern California International Trade Forecast on Dec. 9. The report was delivered by Mihaylo Economics Professors Mira Farka and Adrian Fleissig.

In today’s interconnected global village, international trade is vital to the U.S. economy, with exports comprising 13.8% of the nation’s GDP. Southern California, home to some of the nation’s busiest seaports, airports and trucking routes, is particularly impacted by the health of world trade.

The Mihaylo office of the Small Business Development Center (SBDC), which assists local small enterprises through advising and access to capital, is at the forefront of advising businesses about the Orange County and Southern California export market. On Dec. 9, the center hosted its first annual International Trade Forecast, delivered by Mihaylo Economics Professors Mira Farka and Adrian Fleissig.

The report examines merchandise exports in Los Angeles and Orange counties and the Inland Empire. The region has 5.3% of the nation’s total share of U.S. exports ranking third behind Houston and New York City. An estimated 775,000 California jobs are supported by exports, second only to Texas.

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Five Holiday-Themed Attractions Within An Hour of Mihaylo College

Boats decked with lights and decorations traverse Newport Harbor for the annual Christmas Boat Parade. This year’s event will be held from Dec. 16 to 20 and is expected to draw as many as 1 million spectators. Photo from Boat Rentals of America.

Boats decked with lights and decorations traverse Newport Harbor for the annual Christmas Boat Parade. This year’s event will be held from Dec. 16 to 20 and is expected to draw as many as 1 million spectators. Photo from Boat Rentals of America.

Looking for holiday-themed attractions in Southern California this year? Following are five must-sees this season within a 60-minute drive of CSU Fullerton.

Feeling homesick this holiday season? Looking to venture off campus and explore Southern California?

The Southern California region hosts numerous special events and activities through the holiday season, many of which are free and within a short drive from Mihaylo College. Following are five must-sees:

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U.S. Department of Commerce Honors Marketing Professor Irene Lange for 50 Years of Business Education

Mihaylo Marketing Professor Irene Lange is honored on Oct. 29. From left to right: ITA Trade Specialist Jason Sproule, ITA Regional Director Richard Swanson ’89, Deputy Under Secretary of International Trade Ken Hyatt, Lange, California Governor’s Office of Business and Economic Development Deputy Director of Global Trade Brian Peck and Southern California District Export Council Chair Don Sovie.

Mihaylo Marketing Professor Irene Lange is honored on Oct. 29. From left to right: ITA Trade Specialist Jason Sproule ’00, ITA Regional Director Richard Swanson ’89, Deputy Under Secretary of International Trade Ken Hyatt, Lange, California Governor’s Office of Business and Economic Development Deputy Director of Global Trade Brian Peck and Southern California District Export Council Chair Don Sovie.

The U.S. Department of Commerce recently honored Mihaylo Marketing Professor and Department Chair Irene Lange for 50 years of outstanding global business education at the department’s conference in Costa Mesa.

Mihaylo Marketing Professor and Department Chair Irene Lange has an impressive list of accomplishments during her 50 years of service to the CSU Fullerton business college, including the department chair position for 40 years, outreach in the former Soviet Union following the collapse of communism, export promotion and involvement in local chambers of commerce.

On Oct. 29, the U.S. Department of Commerce bestowed the International Trade Administration’s Certificate of Appreciation on Lange for five decades of business education at the Discover Global Markets: Pacific Rim Consumers Conference in Costa Mesa. The event, part of a conference series for U.S. exporters seeking to expand into global markets, drew more than 450 attendees, a record for a California export event.

Lange’s award was presented by Deputy Under Secretary of International Trade Ken Hyatt, California Governor’s Office of Business and Economic Development Deputy Director of Global Trade Brian Peck, Southern California District Export Council Chair Don Sovie and alumni of the Mihaylo international business program, which Lange spearheaded.

Lange was a founding member and longtime supporter of the International Marketing Association of Orange County, provided guidance through U.S. Chamber of Commerce courses to Orange County businesspeople and companies, actively promoted international exchange programs at CSU Fullerton and established several university courses on international trade.

“Dr. Lange’s long and fruitful history in the international trade community goes back to being an instructor, founder of the Orange County International Marketing Association and facilitator of the CSU’s first international business degree program,” noted Richard Swanson ’89, an alumnus of the international business program and Mihaylo adjunct professor on hand at the conference. “Dr. Lange’s award captured the human spirit in today’s digital global economy and provided inspiration to those both in the trade and education ecosystems.”

For more on Mihaylo’s marketing programs, visit the Department of Marketing at SGMH 5214 or online.

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Professionals Discuss the Growing Field of Health Care Analytics

Dan Exley discussed the impact of big data on health care.

Dan Exley discussed the impact of big data on health care.

Demand for analytical talent could be 50% to 60% greater than the projected supply by 2018, and health care analytics will likely power the next revolution in American health services and sciences, improving patient outcomes and ensuring accurate diagnoses. Dan Exley and Scott Raymond of Memorial Care discussed the impact of analytics in their six-hospital network at the recent Health Care Analytics Seminar.

The advent of big data in the last decade has revolutionized industries across the economy. But perhaps no other field stands to gain as much from this transformation as health care. The accurate and accessible reporting, archiving and retrieval of data can assist practitioners in making prompt and accurate diagnoses, select the most effective medications and identify individual health risks.

There is currently an estimated $300 billion annual potential value to U.S. health care big data and demand for analytical talent could be 50% to 60% greater than the projected supply by 2018.

Scott Raymond discussed the improved care as a result of the efficiencies permitted by health care analytics in the Memorial care system.

Scott Raymond discussed the improved care as a result of the efficiencies permitted by health care analytics in the Memorial care system.

Memorial Care Executive Director of Data Strategy and Reporting Dan Exley and Executive Director of Information Services Scott Raymond discussed the impact of analytics on their network of six Southern California hospitals at the Health Care Analytics Seminar on Nov. 6.

Raymond discussed an app, developed by PerfectServe, which is improving accuracy and efficiency in network hospitals. The app improves communication between nurses and physicians by permitting doctors to decide how they wish to be contacted, establishing a single platform for secure messaging, enabling advanced call routing and permitting users to list and edit their schedules on demand.

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Wahoo’s Fish Tacos Cofounder Shares His Entrepreneurial Journey

Mihaylo Associate Management Professor David Obstfeld (left) moderates a discussion with Ed Lee, co-founder of Wahoo's Fish Tacos, on Nov. 9.

Mihaylo Associate Management Professor David Obstfeld (left) moderates a discussion with Ed Lee, co-founder of Wahoo’s Fish Tacos, on Nov. 9.

Wahoo’s Fish Tacos Cofounder Ed Lee shares the story behind his family’s business, Wahoo’s Fish Tacos, an Orange County success story.

“I think there is a magic moment when everything turns in the right direction for any successful business.” That’s what Ed Lee, cofounder of Wahoo’s Fish Tacos, told Mihaylo students at a recent Center for Entrepreneurship event about the moment when Mike Lesher, vice president of Billabong, invited the fledging fish taco business to cater for his surf warehouse one weekend in the late 1980s. “Our lives changed overnight.”

Of Chinese descent, Lee was born and spent his early childhood in Brazil, before moving to Orange County in 1973. The son of restauranteurs, Lee grew up on the second floor above the family Chinese restaurant on Newport Beach’s Balboa Island. At the time, he was fluent in Portuguese and understood only elementary Chinese. Yet always a self-described fighter, he mastered English and succeeded in academics.

Living just steps from the beach, Lee developed a passion for surfing – a pursuit that would later open doors for his enterprise. “Surfing is so addictive; you’ll never catch the same wave twice,” he said.

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60-Second Pitches Perfected at the Titan Fast Pitch Competition

The top three college finalists at the Titan Fast Pitch competition on Nov. 7, 2015. University, junior college and high school students competed for scholarships and funding.

The top three college finalists at the Titan Fast Pitch competition on Nov. 7, 2015. University, junior college and high school students competed for scholarships and funding.

Chopit Drones, founded by Mihaylo information systems and decision sciences graduate student John Tsui ’17, takes top honors at the Titan Fast Pitch competition. The annual event gives students the opportunity to pitch their startup ideas to win scholarships and funding.

This year has been a banner year for Chopit Drones, the brainchild of Mihaylo information systems and decision sciences graduate student John Tsui ’17. With the help of the CSUF Startup Incubator in Placentia, the new company has developed a business plan and last week netted its first client: Anaheim Public Utilities. Chopit Drones provides on-demand aerial photography and videography with cameras on drones. Tsui can also add a first-place finish among college and university competitors and a $1,500 scholarship award at the Titan Fast Pitch competition on Nov. 7 to his highlights for the year.

“Having a succinct, 60-second pitch helped me focus on what my company is really about,” Tsui says. “It helped me pinpoint the strengths and weaknesses of my company. For students pitching in the future, I would tell them to really think about your pitch in these terms and do your research. And keep practicing.”

The fast-pitch competition is designed to give student entrepreneurs from local high schools, junior colleges and universities, including CSU Fullerton, a chance to develop their all-important 60-second business plan pitch, while providing the opportunity to compete for scholarships and funding.

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Economics Professor Kristin Kleinjans Explores Divergent Global Healthcare Models

Mihaylo Economics Professor Kristin Kleinjans has studied the healthcare systems of the U.S. and Denmark.

Mihaylo Economics Professor Kristin Kleinjans has studied the healthcare systems of the U.S. and Denmark.

Mihaylo Economics Professor Kristin Kleinjans discusses healthcare systems in the U.S. and Denmark, examining the benefits and drawbacks of both the mostly privately-provided insurance system in the U.S. and Denmark’s tax-financed universal healthcare.

Among the leading issues in American politics is how to make healthcare affordable and accessible to the country’s more than 300 million citizens and residents. Key to the debate is whether a mostly private insurance-based model, which exists at present in the U.S., or a tax-financed public model, used in many countries around the world, offers the best quality care.

Mihaylo Economics Professor Kristin Kleinjans’ study The Effect of a Severe Health Shock on Work Behavior: Evidence from Different Health Care Regimes compares the employer-based healthcare system in the U.S. and Denmark’s public system to determine how divergent healthcare systems impact employment decisions among older adults.

“The big difference is that in Denmark, health care is universal and paid by taxes. Thus, everybody has access to health care. Out-of-pocket costs are low and nobody faces the risk of catastrophic health care expenditures,” Kleinjans says. “In the U.S., people without health insurance often go without basic care and end up in the emergency room, either because preexisting health conditions, such as diabetes, were not adequately treated, or because they lack access to other types of care. Not surprisingly, this results in much higher costs and leads to worse health outcomes.”

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Mihaylo FEMBA Students Learn about the Supply Chain at Amazon Fulfillment Center

Mihaylo FEMBA students and faculty at the Amazon Fulfillment Center in San Bernardino, Calif., on Oct. 23, 2015. The group got an inside look at one of the mammoth e-retailer’s processing facilities.

Mihaylo FEMBA students and faculty at the Amazon Fulfillment Center in San Bernardino, Calif., on Oct. 23, 2015. The group got an inside look at one of the mammoth e-retailer’s processing facilities.

A group of Mihaylo graduate students visit the Amazon Fulfillment Center in San Bernardino, Calif., for an inside look at the contemporary supply chain.

Perhaps no enterprise better represents the contemporary supply chain than Amazon. The company is the leading e-retailer in the United States with nearly $90 billion in net sales in 2014, 270 million worldwide customer accounts and more than 154,000 employees.

Students in Mihaylo College’s Irvine-based MBA for the Fully-Employed (FEMBA) program had the opportunity to see Amazon’s supply chain up close with a visit to the Amazon Fulfillment Center in San Bernardino, Calif., one of three such centers in Southern California’s Inland Empire region.

Mihaylo students inside the San Bernardino facility.

Mihaylo students inside the San Bernardino facility.

The 1-million-square-foot San Bernardino facility, a typical size for Amazon fulfillment centers, opened in Oct. 2012. Local officials hope the jobs created by the center will help revitalize their community, which suffers from high rates of crime and unemployment.

“I was not aware that more than 20 million SKUs exist in one building – this is an exceptional feat,” Mihaylo Management Professor Harold Fraser said as he and the students witnessed the eight miles of conveyor belts running at the average speed of 25 miles per hour processing packages prepared for shipping.

MBA student Vishal Aggarwal ’16 was equally impressed: “I was amazed to learn that with everything else going on at such a fast pace, operations can detect a missing DVD from inside a DVD case packed in a box, and their system can prevent it from shipping.”

“They have designed a great system, handling a huge variety of items at an extremely high speed,” Mihaylo Management Professor Gus Manoochehri says.

Mihaylo’s MBA programs not only provide instruction from world-class teaching and research faculty, but also excursions to local businesses, networking events and international study abroad opportunities designed to prepare students for the 21st Century economy.

For more on MIhaylo’s graduate programs, visit Mihaylo MBA and Graduate Programs online or at SGMH 4210.

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