Friday, August 26, 2016

Olympics and School of business programs.


Simone Biles August 8, 2016 Olympics
Wish you worked at the 2016 Rio Olympics?  

How can you be involved in the Olympics?  Any of our industry driven graduate programs could help get you there (or any other global business venture). 

1) M.S. in Business Leadership-  Athletes, or employees have to work together as a cohesive team.  Business is a team sport and tomorrow's  leaders are accomplished team players.  Learn how to inspire teams and generate results in this leadership focused, MBA alternative program.

2) M.S. in Finance- This year's Olympic games cost $4.56 billion dollars to host! Although a huge amount, it was actually less than the London and Beijing Olympics.  Behind the scenes corporate finance, accounting and investment management professionals were critical to support this huge money venture.

3) M.S. in Marketing and Communications Management- The Rio Olympics  involved thousands of marketing professionals.  Think of all the advertising, licensing, sponsorships, social media and partnerships that was involved.  The Olympic Marketing Committee publishes an interesting marketing fact file to ensure the integrity of the Olympics.  To view this file click here.

4) M.S. in Sport Business Management- Sport Management is an obvious connection to the Olympics, but Sport Business Management professionals are also focused on aspects that may not be so obvious including the management of:  interscholastic, collegiate, professional, and recreational athletics, from the viewpoint of every business discipline.

5) M.S. in Human Resource Management and Organizational Effectiveness- The Olympics is a monstrous HR undertaking .  HR professional are critical to securing the best workers, training, compensating and ensuring security, volunteers, contractors, Zika, health concerns, doping scandals, safety, cultural implications and global legal HR issues are addressed properly.  

6) M.S. in International Management- The Olympics is a huge international business event.  11,000 athletes from 207 nations completed in 306 events.  Managers are needed with expertise in working with different cultures, global economic concerns, political issues and global business practices

Get your graduate degree at the School of Business in as little as 1.5 years of part time study- just in time for the Winter Olympics in PyeongChange Korea!

Jean Mann
Director of Marketing and Enrollment Services
Manhattanville School of Business
 

Friday, July 1, 2016

Stimulating Conversations on Managing Risk: You Can’t Afford Not To



Stimulating Conversations on Managing Risk:  You Can’t Afford Not To



Michele Braun, Director
Institute for Managing Risk

Thinking about risk?  You know it is a good idea, but who has the time? 

CFOs, nonprofit executives, risk managers, business leaders, insurance and technology thinkers, financial managers, and students of many disciplines learned how essential it is to make the time!  Last month, they gathered at the Institute for Managing Risk at the Manhattanville School of Business for stimulating discussions on risk.  Most importantly, they joined together to talk about how an organization can think about risk and practical steps to be ready for expected and unexpected risks. 

In two events, participants joined no-holds-barred discussions on preparing for risk, identifying risk, managing and mitigating risks, as well as preparedness for those risks that are harder to foresee.

On June 7, risk professionals with years of experience at hedge funds, utilities, financial firms, and job placement companies tangled on the nature of risk and what “managing risk” entails.  With active challenges from the audience, event participants explored ethical issues, when it may be appropriate to take risks and when it is absolutely not appropriate, and the importance of “backbone” to stand up for good risk management inside an organization.  Co-hosted by Stamford PRMIA, this discussion on “Managing Risk in an Age of Uncertainty,” held participants in excited networking long after the official panel presentation had ended.  

The following week, executives and board members for nonprofit organizations gathered to explore their obligations to manage risk.  Co-hosted with the Nonprofit Management Center at Manhattanville, participants spoke of the challenges of balancing an organization’s mission while managing its risks.  These risks, they revealed, come in many forms, encompassing day-to-day management challenges as well as potential unusual events.  The executive of a grant-making organization and leading experts in strategic planning, financial preparedness, and insurance for nonprofits provided important guidance for nonprofit enterprises on “Preparing for the Unknown.”

To learn more about future events at the Institute for Managing Risk at the Manhattanville School of Business, check out the website or email me at michele.braun@mville.edu.

Monday, June 6, 2016

Thinking about Risk: Taking or Avoiding Risks is a C-Suite Imperative!



Thinking about Risk: Taking or Avoiding Risks is a C-Suite Imperative!


“…risk is a reality and you have to think about how to position the organization to take advantage of the opportunities,” says Peter Zaffino, CEO of Marsh, LLC, on the front page of The Wall Street Journal’s May 31, 2016, “C-Suite Strategies” section.  Mr. Zaffino is also quoted as saying that “Risk isn’t a negative.”  While taking risks can absolutely be a positive—a business imperative, actually—it can also be a negative.  Most importantly, risk should be considered strategically and tactically, and absolutely in the context of the enterprise taking the risks.

The International Standards Organization’s treatise on risk management defines risk as the “effect of uncertainty on objectives,” specifying that an “effect is a deviation from the expected” and that an effect can be positive or negative. [ISO 31000:2009]  Positive or negative… the positive outcomes from risk taking include corporate growth and profit.  The negative outcomes include product failure, financial loss, and reputational damage.  The former are desirable, the latter to be avoided. 

In two upcoming programs that are open to the public, the Manhattanville School of Business Institute for Managing Risk will host industry experts, risk managers, business and nonprofit leaders as they explore these challenges, consider how to embrace risk awareness, pursue “up-side” risks, and mitigate “down-side” risks.

Register now, so you can attend: 
June 7, 5:30 p.m. – Managing Risk in an Age of Uncertainty, co-sponsored with PRMIA
June 15, 8:00 a.m. – Preparing for the Unknown:  Managing Risk in Nonprofit Organizations, co-sponsored with the Manhattanville Nonprofit Management program.

Think about it:  an enterprise—whether for-profit or not-for-profit”—that does not take risks is soon out of business.  A nonprofit that provides health services for the elderly, for example, needs to rent or buy clinic space, hire medical practitioners, establish a record keeping system, among other things all before opening its doors.  Each step carries risks, as well as the overall risk that no clients will appear.  Alternatively, there is also the risk that too many clients will request services and the facility will be overwhelmed, the staff driven to exhaustion.  Similarly, a for-profit company launching a new service or product faces an array of risks, ranging from the operational (production, distribution, post-sales support) through legal (copyrights and patents), financial (funding development, product pricing), and corporate (staff support through HR, accounting, IT, facilities). 

Importantly, strategically, ISO 31000 calls on each enterprise to decide for itself which risks it wants to take and which risks it wants to avoid.   If the nonprofit does not take the risk of opening its clinic, why should it survive?  If a company does not take risks to develop, produce, promote its products, why should stockholders invest in it?  Conversely, of course, unconsidered risks can delay or destroy either endeavor.  Thus, the challenge, the imperative, is to be “risk aware.”  Rather than being risk averse, an enterprise needs to consider and manage its risks.  This isn’t willy-nilly taking risks on new things, but neither is it knee-jerk risk avoidance.

Monday, May 23, 2016

Join our conversation on Managing Risks in this Age of Uncertainty



You think risk management is not important?  Think again and join the conversation!

The 2016 proxy statement from IBM includes a full page discussion on corporate governance.  Roughly a third of that page is devoted to the topic of risk management.  To quote a few key lines:  “At IBM, we believe that innovation and leadership are impossible without taking risks.  We also recognize that imprudent acceptance of risk or the failure to appropriate identify and mitigate risks could be destructive to stockholder value.” 

This is music to my ears!  At the Manhattanville School of Business, we live by this “tag line”:  Managing risk for organizational growth and sustainability.  You can’t afford not to.

IBM’s statement raises three important points that are near and dear for me.  First, there is no success without risk.  I could go even further to say that there’s really nothing—and I really mean nothing—without taking some risks.  Doing nothing means your firm risks being put out of business just as much as it would by taking reckless action. 

Second, creating new things, stretching horizons, seeking new opportunities, promoting innovation and leading new initiatives requires taking risks.  Third, and just as important, wantonly taking risks, not assessing risks in advance would be imprudent and inappropriate. 

Similarly, Consolidated Edison, a premier power providing company in New York State discloses in its 2016 proxy statement the active oversight responsibility of its board of directors for risk management and specifies that “Management regularly provides reports to the Board and its Committees concerning risks identified through the Company’s enterprise risk management program.”
Many other companies are also intelligently risk aware, many have or are considering implementing enterprise-wide risk management programs (ERM).  A corollary is that risk management is not just for financial services companies.  I’m using IBM and Con Ed as examples here because they are large, widely known non-financial companies that are not start-ups.

Managing a company’s risks is a critical activity, but no one says that it is easy.  On June 7, we’ll be hosting a no-holds barred discussion on Managing Risks in an Age of Uncertainty!  Join Stamford-PRMIA and the Manhattanville Institute for Managing Risk and share your views by registering here:  http://www.prmia.org/civicrm/event/info?reset=1&id=6818

Friday, May 6, 2016

A brief chat with Aaron Kolodny of M.S.Sport Business Management



Hi Aaron- Why did you choose the Manhattanville School of Business to pursue your degree?   
1)  I chose Manhattanville School of Business because of the location, the reputation of the program in the current sport management field and academics, and the geographic proximity to New York City. These three variables all enable students to obtain desired internships and future careers in the competitive sports business field. I also was very impressed with the faculty during my initial Open House and their prominent list of key advisors in the sport management field.
How has your studies helped in your position?
2) In regards to my position at the ECAC, I would say that all classes so far have been helpful during my tenure. I certainly have taken many themes from Professor Rollins’, Managing Sports Business, Professor Doris’, Leading Sports Organizations and Prof. Glovaski/Alpert's Facility & Event Management courses.
How else have your studies helped at your job?
3) In regards to the transition of what I am learning to what I am doing has been most evident with my grasping financial accountability involved in sports management.  I have learned a better understanding of the accounting department and the role the college conference office provides to its member institutions. I have worked collaboratively with the ECAC team to learn about the day-to-day and fiscal year operations and discussed future strategic plan investments. As a member of the administrative services team, I taught myself QuickBooks and our accounting reporting system.
Thanks Aaron- we wish you the best of success!

Monday, April 4, 2016

Planning for the Unknown: Risk Awareness for Nonprofit Organizations




Planning for the Unknown:  Risk Awareness for Nonprofit Organizations
by Michele Braun, Director, Institute for Managing Risk, Manhattanville School of Business

The leaders of every nonprofit organization know that they face risks:  challenges to delivering services, ensuring sufficient funding, specialized staffing for mission-driven services, facilities, technology, perhaps the local political environment, existing laws and regulatory changes, to name only a few.  How do leaders, with their plates already full—or overflowing—address these risks and manage them accordingly?  What tools are there for nonprofit leaders to decide which risks to take, which to manage and how to manage them? 

Importantly, the very first step in the International Standards Organizations’ risk management framework (ISO 31000) is to establish the context.   For nonprofits, the context includes that they have goals and missions other than financial profitability; they have clients to service, parks to maintain, students to educate, for example.  The beginning, or the first step, is to consider your specific organization and its goals. 

Here is the thing:  there is risk in every activity, and your organization should be taking some risks.  Frankly, if you don’t take any risks, you will fail to achieve your goals.  However, your organization should choose its risks, selecting those that are necessary to achieve its mission.  These choices require being risk aware, and they are part of the process of managing risk and determining which risks to avoid and how to do so. 

On  June 15,  2016, we’ll talk more about how to do this, focusing on strategy, finances, and risk management planning in the context of running a not-for-profit organization.  Join the Non-Profit Management Center and the Institute for Managing Risk to consider Preparing for the Unknown:  Managing Risk in Non-profit Organizations, A Program for Executives and Board Leaders.

For more information see this link. 

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