THE BULL, BEAR & LION

VOL. II, NO. I

THE STUDENT NEWSPAPER OF THE COLLEGE OF NEW JERSEYS SCHOOL OF BUSINESS

AUGUST/SEPTEMBER 2015

WHAT YOU NEED TO KNOW ABOUT GREECE

BY KRISTEN BOROWSKI

On August 14, nineteen European

my (Merriam-Webster). According to

tine Lagarde, Managing Director of the

with very different levels of economic

Union (EU) finance ministers approved

the BBC, Greeces 2011 austerity plan

IMF, said, I remain firmly of the view

development, trade balances and effi-

a 86bn bailout loan to Greece. While

included increases in taxes; cuts to the

that Greeces debt has become unsus-

ciency of economics institutions intro-

other EU countries have yet to approve

public sector, spending, and benefits;

tainable and that Greece cannot restore

duce tension within the European

this measure, the EU is progressing in

privatization, and labor market reform.

debt sustainability solely through ac-

Monetary Union (EMU). Greece is the

placating the current Greek debt crisis.

The 2013 austerity plan was similar.

tions on its own. The recent agree-

latest country to cause financial tension

within the EMU.

Over the past six months, Greece

Greece needs to cut spending and

ment between Greek and European

has seen the election and resignation of

raise money to be able to pay off their

institutions through the Memorandum

Greece has its bailout now, but this

Prime Minister Alexis Tsipras; default-

debts. Reinhard Cluse and Gyorgy Ko-

of Understanding (MoU) is one more

is no guarantee of stability. Other EU

ed on a 1.6bn loan to the International

vacs, speaking on behalf of UBS, said,

measure by which the EU is supporting

countries are facing similar problems.

Monetary Fund (IMF), rejected new

[in compliance with the austerity and

Greece.

CNN reported that in 2010, Ireland

austerity measures, and accepted anoth-

bailout terms] the Greek parliament is

Dr. Georg Cerf, an Adjunct Profes-

er bailout.

to pass a first set of legislation related to

sor of Economics at TCNJ said, While

approved a 24bn austerity plan.

By definition, an austerity program

tax reform, pension reform, the inde-

there are great benefits to countries

2011, Portugal accepted a 78bn bailout

is a program of economic controls

pendence of the statistical office, and

with less ability to provide their own

from the EU and IMF. Only time will

aimed at reducing current consumption

public finance reform.

financial capital to finance their eco-

tell the future of the Greece and the

nomic activity and growth, countries

EU.

so as to improve the national econo-

In an August 14 statement, Chris-

ABOUT THE BUSINESS INSTITUTE

BY KRISTEN BOROWSKI
While many business students were
busy with internships and jobs this
summer, some students were getting
their first taste of the business world.
Over the summer, The College of New
Jersey held the first annual Business
Institute, a program designed to give
non-business majors a basic understanding of business and the skills integral to interacting in a professional
environment. Those enrolled had the
option of taking the program for credit
(2 course units) or non-credit. Ten
TCNJ students participated in this intensive five-week business program,
learning about various topics each
week. Topics ranged from evaluating
financial performance to strategic management and leadership. Students also
learned necessary skills such as using
Microsoft Excel, editing rsums, preparing for interviews, and team building.
George Hefelle, External Programs
Specialist for Graduate, Professional
and Continuing Education, serves as
the manager of the Business Institute.
Mr. Hefelle is excited about the program, saying that it allows students
with backgrounds in, say biology or
sociology, to understand business in
the context of their own major.
The faculty and staff of the School of

ummer has ended and we

begin, yet again, another semester. I hope that you enjoyed your summer and are
now ready to begin a new school year.
In our newspaper you will find informative articles, tips regarding interview preparation, and advice about
jobs and your future. We shall also
keep you well informed of important
business news in the US and around
Follow us on Twitter: @Bull_Bear_Lion

Business worked hard in the propagation of this program. Dr. Bea Chiang,
an Associate Professor of Accounting,
developed the outline of the program
and taught financial sections of the
program. Various full-time and adjunct School of Business faculty joined
Dr. Chiang in teaching the program.
Besides learning in a classroom setThe Business insTiTuTe
allows students with
backgrounds in, say
biology or sociology,
to understand
business in the
context of their own
major.
ting, students had the opportunity to
visit businesses, such as Princetel in
Hamilton, to witness a business in action. Guest speakers from Este Lauder
and the Educational Testing Service
(ETS) provided students with a unique
perspective.
When asked about the future of the
Business Institute, Mr. Hefelle said,
The skys the limit. Next year TCNJ
hopes to expand the program by enrolling more students from and outside
TCNJ.
KAB

the globe. We would love to hear your

thoughts about our newspaper. We
are always ready to add new members
to contribute to our newspaper team,
so do not hesitate to join us!
Best of luck this semester and be sure
to look for our next issue in the beginning of October.
Kristen Borowski
Editor-in-Chief
borowsk1@tcnj.edu

accepted a 67.5bn bailout and Italy

In

KAB

WOMEN IN BUSINESS ON THE RISE

BY SARAH WALLIN
TCNJs Women in Business is an uprising student organization to keep an
eye on as this fall semester begins. As
outlined on the clubs website, the
Women in Business organization
strives to promote gender equality in
the work place and in the business
school. The group had its first interest
session in March 2015 and within two
weeks, an e-board was formed and the
group began having weekly meetings
in the Business Building. Over the
course of the spring semester, 27 interested students joined the Women in
Business organization.
Women in
Business has kept its involvement high
to jump start the promotion of the
group, which has yet to receive approval by Student Government. By cosponsoring the CEO Peer Mentors
LinkedIn workshop and the School of
Business Women in Business panelist

discussion, the group has worked to

gain the attention and interest of students, staff members, and guest speakers. In March, Women in Business
welcomed Courtney Chamberlain
from Northwestern Mutual to TCNJ to
speak about her experiences in the
workplace at one of the clubs meetings.
Membership in Women in Business
is not limited to female business majorsthe group invites anyone who is
interested, regardless of gender or major. If you are interested in joining, or
you would like more information,
please contact womeninbusiness.tcnj
@gmail.com. Find us on Facebook by
searching Women in Business TCNJ
and browse our website at http://
womeninbusinesstcnj.wix.com/tcnj. Be
sure to check it out!
SW

NEW FINANCE FACULTY,

TAE-NYUN KIM
BY JOANNA DICICCO
The TCNJ School of Business is hap-

management.

py to welcome one of our newest pro-

Aside from his occupation in higher

fessors, Tae Nyun-Kim. Dr. Kim, orig-

education, Dr. Kim is involved with

inally from South Korea, earned his

organizations such as the American

Bachelor of Business Administration

Finance Association, Financial Man-

with honors from Korea University in

agement Association, and Beta Gamma

2003. Later, he earned his Master of

Sigma.

Applied Statistics from The Ohio Uni-

During the Fall 2015 Semester, Dr.

versity in 2005, as well as a Ph.D. in

Kim will be teaching Introduction to

Finance from Rutgers in 2011. Dr. Kim

Investments (FIN 310) and Statistical

then became an instructor at Frostburg

Analysis for Management (MGT 235).

University, where he worked for four

In the spring, Dr. Kim will be teaching

years. He taught undergraduate cours-

Financial Modeling (FIN 360).

es encompassing topics such as corpo-

look forward to taking his classes!

rate finance and financial institutions

JD

We

THE BULL, BEAR & LION

AUGUST/SEPTEMBER 2015

DEPARTMENT NEWS
ACCOUNTING
Undergraduate Accounting
program #20 in the country
MANAGEMENT
Dr. Lillevik leading Study Abroad
in Heidelberg, Germany

FINANCE
New Faculty, Dr. Tae-Nyun Kim
ECONOMICS
New faculty members:
Dr. Richard Baker &
Dr. Trevor OGrady

UPCOMING EVENTS

MARKETING & IDB

Julianna Hessel (MKT, senior)
selected as Alyssa Ruggieri
Scholar Award recipient

BOOK REVIEW
The Challenger Sale by Matthew Dixon and Brent Adamson
BY ALYSSA J FREITAS
Although there are many sales
methods utilized with dedicated followers, The Challenger Sale is here to
shake things up. According to research
conducted by CEB Global, a best practice insight and technology company,
there are five buckets into which all
sales professionals can be categorized.
i. The Hard Worker is selfmotivated and willing to go the extra
mile.
ii. The Relationship Builder is generous with time and helpful to others.
iii. The Lone Wolf follows his/her
own instincts and is self-assured.
iv. The Reactive Problem Solver is
detail-oriented and a reliable respondent.
v. The Challenger loves to debate
and push the customer.
While each category has its virtues,
the researchers at CEB have determined that the most effective and desirable salesperson is the Challenger.
This sort of salesperson presents a
different view of the world while
having an in-depth understanding of
his/her customers business and is willing to debate with the customer in
order to ultimately better serve all the
needs (even those needs which the

customer may not have realized the

business had!).
While this fact might be counterintuitive at first, after all, most theoretically successful salespeople tend to
embody the Relationship Builder, it
becomes clear through The Challenger
Sale that what sets a Challenger apart
is a combination of skills; namely the
ability to teach, tailor, and take control
of the sales call. What makes this an
interesting and engaging read is the
use of examples and evidence to illustrate and support the position of the
authors. There are practical tips and
advice for sales professionals, as well as
a new way for anyone to think about
how they present their ideas and value
to others.
Despite the plethora of sales strategies and books, The Challenger Sale
truly gives a well-researched and effective method for increasing the success of salespeople. It is a valuable read
not only for those interested in sales
but for anyone who wants to know
how to better communicate a message
and make it impactful.
AJF

ALUMNI ADVICE

SEPTEMBER:
8th Welcome Picnic, 12-2pm, BB Lawn
9th Merck Presentation, 3-4:30, BB Lounge,
sponsored by Career Center
30th College-wide speaker, Soledad OBrien,
4pm, Kendall Hall

SPOTLIGHT TOPIC:
Big Data
BY DAVID W. LETCHER, PH.D.
PROFESSOR EMERITUS
An examination of the Google Books
Ngram Viewer, accessible at Culturomics.org, reveals that the term
Big Data started to appear in books
and other literature during the 1960s.
But its frequency of use really accelerated during the 1990s and reached
todays popularity around 2010.
What does the term big data mean
in todays world of business? An historical perspective will help. Business
data processing, using computers, became routine soon after the invention
of the computer that we are familiar
with today. The 1950s saw the beginnings of data processing in certain
business functional areas that used
fairly standard business processes such
as accounting.
As the decades passed, the number
and sophistication of computer-based
applications for businesses blossomed.
The evolution of applications witnessed growth in transaction processing, online transaction processing,
decision support, executive support,
business intelligence, analytics, and
now big data. These systems typically
used stable, structured files. (Think of
rows of data; each row containing
many attributes, each in their own
columns.) The data types in these files
included numeric or string information primarily.
But what sets big data apart from its
predecessor applications? Its not just
the size of the data files. Although,

Seven Tips for a Successful Career

THIRD THURSDAY PROGRAM:

Sept. 17: Speed Networking with Recruiters
Oct. 15: Entrepreneurship & Mayo Business
Plan Competition Info.
Nov. 19: Go Global!
[See the School of Business website for info.]

often enough, a lot of big data analytics use extremely large files. Its also
the nature of the files themselves. The
files are unstructured (think emails)
and are usually combinations of data
streaming in from a diversity of
sources such as sensors or web-based
transactions and with quite a mix of
data types. These data types include
video, text, images, and genomics.
However, these files may contain
many errors or may need to be combined prior to processing. This requires
the data analyst to perform a series of
housekeeping steps to prepare this
data for analysis. The number and
types of analyses are countless.
The story of big data is epic and exciting. Job opportunities are growing
by leaps and bounds and many colleges
and universities already have, or are
planning to have, majors and/or minors in big data, both at the undergraduate and graduate levels.
Thomas H. Davenport, in his 2014
book entitled Big Data@Work,
speaks on behalf of students when he
says on page 6:
if you are a student preparing
for a career or at least a job or
two in big data, congratulate
yourself on your perspicacity.
This field is likely to be booming
for many years.
DWL

BY KRISTEN BOROWSKI
What is the key to success? After
chatting with TCNJ School of Business
Alumni one can conclude that there is
not one definitive answer. Instead,
there are several:
i. Gather as much information about
the business world as possible.
Read business newspapers and
periodicals, watch programs about
the stock market, and keep your
eyes and ears open. Paul Rudek,

Marketing, 97
ii. Focus on the task at hand. Accomplish short-term goals in order
to achieve long-term dreams.

Justin Kerner, Marketing, 02

iii. Look the Part. Have a work wardrobe and never wear party
clothes to work, stay professional.
On casual wear days, do not be too
casual. Steven Capelli, Account-

ing, 79
iv. Take advantage of the TCNJ
School of Business Alumni Chapter. Make sure to get involved

with annual face-to-face networking opportunities as well as online

networking through the LinkedIn
group. Michael A. Saperstein, In-

ternational Business, 99
v.

Network your connections. Use

your network to identify someone
within the firm and reach out to
that person, as a referral from inside the firm is viewed more favorably than an application.

Virginia Zmuda, Finance, 88

vi. Dont be a complainer. Instead be
positive and learn how to remedy
the situation by taking cues from
experienced co-workers. Heidi

ADVERTISE HERE!
C o n t a ct b o r o w s k1 @ t cnj . e d u f o r
details.

Becht
vii. Become the best at your profession. Ask yourself: What do I
need to know/do/accomplish to be
the best at my job? Perfection is
not the goal, competence and hard
-work is. Susan Nappi, Business

Administration
KAB

THE BULL, BEAR & LION

STAFF:
Editor-in-Chief, Kristen Borowski, 2017
Contributor, JoAnna DiCicco, 2017
Contributor, Alyssa Freitas, 2017
Contributor, Sarah Wallin, 2017

ADVISORS:
Patty Karlowitsch, Manager of Operations,
TCNJ School of Business
Dr. Jean Brechman, Assistant Professor,
Marketing

Thank you to Dr. Letcher for contributing

to this issue.

Follow us on Twitter: @Bull_Bear_Lion

CONTACT:

Join our team! Write, take photographs, or help manage

The Bull, Bear & Lion!
Write to Kristen Borowski:
BOROWSK1@TCNJ.EDU