Tag Archive | "school of business administration"

Retired Admiral Urges Leaders to Build Bridges, Not Walls


Retired Admiral Urges Leaders to Build Bridges, Not Walls

By Annette Gallagher
UM News

Ret. Admiral James Stavridis delivers the Cobb Leadership lecture. t

Ret. Admiral James G. Stavridis says security depends on building bridges, not walls.

CORAL GABLES, Fla. (November 14, 2014) — One of the most powerful leaders of the 21st century, Ret. Admiral James G. Stavridis, the former Supreme Allied Commander at NATO, told a rapt audience at Storer Auditorium Thursday that building bridges, not walls, is the key to a secure world.

“In the 20th century, when we wanted security, we built walls: the Maginot Line, the Iron Curtain, the Bamboo Curtain, the Berlin Wall. It failed,” Stavridis, now dean of The Fletcher School of Law and Diplomacy at Tufts University, said. “Bridges are the key to security in the 21st century.”

Stavridis was invited to the University of Miami to deliver this year’s Cobb Leadership Lecture, a series former Ambassador Sue Cobb established in 1986 as a 50th birthday gift to her husband, UM Trustee Chuck Cobb, also a former ambassador. Stavridis is also the author of The Accidental Admiral, which was published in October and details his time as NATO’s Supreme Allied Commander, a post previously held only by generals.

He began his talk by cataloging the many challenges world leaders face today, chief among them violent extremism. He noted that ISIS (the Islamic State in Iraq and Syria) now has an income of $2 million to $6 million a day, generated from selling looted antiquities, oil, human trafficking, and other crimes. Unlike previous violent extremists, ISIS is “a very sophisticated entrepreneurial enterprise,” he said.

He also cited cybercrime at every level, and the troublesome situations in Syria, the Ukraine, Iran, and North Korea. “North Korea has both weapons of mass destruction and the ability to deliver them far away. Like in Ghostbusters, those are two streams you do not want to cross,” he said.

Calling Asia “the dog that hasn’t barked” and a place that will continue growing in global importance, Stavridis noted that China and Japan now have a similar relationship to that of Germany and Austria in 1914.

Turning to the region around Florida, he said poverty and enormous inequality is the biggest challenge, leading the disenfranchised to gangs and spurring the cocaine industry, which finances corruption and violence and undermines democracy.

In the face of such seemingly daunting challenges, Stavridis succinctly summed up his advice for the next generation of leaders. “Listen,” he said. “So often we tend to leap into action before we listen, and listening matters in building bridges.”

He also offered the same advice he gives students at The Fletcher School: Use your time to “build intellectual capital. Use your time to learn,” he said. “Study languages. To know another language is to know another life. Read novels. They build intellectual capital of a different sort than what you get from reading non-fiction.”

Amid all the challenges, Stavridis also detailed opportunities. “The United States still has a profoundly important role to play,” he said. “We have a strong economy, strong military, expanding demographics and are on our way to energy independence. It will take leadership to continue playing that role.”

And it takes leadership to build coalitions, which he asserted, really matter. Unilateral actions often fail, but NATO and coalitions like the one in Afghanistan are important because, after all, they build bridges.

“We are great at launching missiles; we need to get better at launching ideas,” Stavridis said. “Our opponents are innovators. They wake up every morning looking for ways to improve their margin and do better. We need to take our good ideas as leaders and move them on social networks, not just in traditional ways. We need to collaborate. No one of us is as smart as all of us thinking together.”

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Neurofinance Lab Will Explore Physiological Aspects of Decision-Making


Neurofinance Lab Will Explore Physiological Aspects of Decision-Making

By Jill Schoeniger
Special to UM News

Neurofinance.labCORAL GABLES, Fla. (November 4, 2014)—People make financial and business decisions for many reasons, and researchers are always looking for new ways to predict and understand their behavior. The emerging fields of consumer neuroscience and neurofinance seek to examine the physiological aspects of such decision-making, and the School of Business Administration is expanding its research into these fields.

Milica Mormann, who recently joined the finance department as a research assistant professor, is spearheading the creation of a  neurofinance lab at the school. The lab will  enable faculty and students to add another layer to their research, by exploring how physiological aspects factor into the final behavioral choices that people make.

“Instead of just using traditional surveys and asking people what they do, we can now do eye tracking, where we look at where their eyes move as they look at a page to see exactly what they focus on. We will also have an EEG machine, so we can get brain-activity measurements,” explained Mormann, whose interdisciplinary research focuses on consumer behavior, financial decision-making, and environment-related decisions.

In addition to stationary and mobile eye trackers and the EEG system, the lab will have facial expression analysis software, which records a person’s face and then analyzes her reactions while processing information.

Mormann also organized a Consumer Neuroscience Symposium, hosted by the school on September  25, which drew more than 90 scholars from top research institutions across the globe with diverse backgrounds, including economics, psychology, neuroscience, medicine and finance. Attendees examined the current knowledge at the intersection of consumer research and neuroscience.

The breadth and depth of this emerging field were on display in the panel discussion “Big Picture: What Can Neuroscience Offer to Consumer Research?” which Mormann moderated. It featured Colin Camerer, a professor at Caltech and recipient of a 2013 MacArthur Foundation “genius award”; Scott Huettel, director of the Center for Cognitive Science at Duke University; and Wes Hutchinson, director of the Wharton Behavioral Laboratory at the University of Pennsylvania.

“Neuroscience is not going to replace traditional methods” of consumer research, Huettel told the audience. “We think of neuroscience as something that accompanies traditional methods. … Neuroscience can speed the pace of discovery.”

The school’s neurofinance lab is already off to an auspicious start with an exciting lineup of projects. For instance, Mormann will study how people process information related to financial institutions and how this information affects their choices—such as whether to invest in a retirement fund.

“When I first worked on these issues at Caltech, eye tracking was largely considered the exclusive domain of vision scientists,” Mormann says. “Today, most of the top research schools have embraced its interdisciplinary potential and are setting up eye-tracking labs or neuroscience labs. The deans and many of my colleagues were interested in getting a similar lab started here.”

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Master’s in Business and M.B.A. Preview on November 22

Join the School of Business Administration for a half-day information session on the school’s master’s programs in accounting, business analytics, economics, finance, international business, and taxation on Saturday, November 22, from 9 a.m. to 1 p.m. at the Newman Alumni Center, 6200 San Amaro Drive, Coral Gables campus. Talk one-on-one with current graduate students about their experiences, and meet the graduate business admissions team. Hear about the Ziff Graduate Career Services Center, which is dedicated to our graduate business students, and take advantage of the opportunity to network. Breakfast and lunch will be provided. To register for the event, visit www.bus.miami.edu/graduateprograms.

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CIBER Receives $2 Million to Enhance U.S. Success Abroad


CIBER Receives $2 Million to Enhance U.S. Success Abroad

Special to UM News

CORAL GABLES, Fla. (October 31, 2014)–The U.S. Department of Education has awarded a grant of more than $1 million to the University of Miami to continue supporting its Center for International Business Education and Research (CIBER), which has been housed at the School of Business Administration. The Center will receive more than $250,000 each year for four years to continue carrying out innovative services and interdisciplinary endeavors to strengthen U.S. competitiveness. The funding will be matched by the university, resulting in more than $2 million in total funding for programming. The University of Miami is among just 17 universities nationwide, and the only institution in Florida, to receive the CIBER funding in 2014.

“We are thrilled and honored to be among the elite institutions to receive this funding, particularly at a time of increased competition for fewer grants,” said Joseph Ganitsky, director of the University of Miami CIBER. “Our CIBER will deliver results by leveraging Miami’s strengths as a gateway to the Americas, by combining the expertise and competencies of the School of Business and the university’s other schools and colleges, and by focusing on South Florida’s service areas of excellence such as health care and finance, which are key drivers of U.S. competitiveness.”

In this second funding cycle, the University of Miami CIBER will focus on three areas that will help enhance U.S. competitiveness, the common goal of all CIBERs:

  • The CIBER will create international experiences that enhance student employment opportunities. This will include enhancing international business courses, exchanges and experiential learning opportunities such as field study trips, consulting, reverse mentoring, and interdisciplinary projects.
  • And the CIBER will promote interdisciplinary research and the international business competencies of university faculty members. The Center will sponsor eight interdisciplinary programs that will include breakthrough international business research, academic and professional conferences featuring leading business and academic leaders from across the U.S. and Latin America, and field study trips, among other programs.

“A key part of the strategy of the School of Business is to build our global perspective, particularly as it pertains to Latin America,” said Gene Anderson, dean of the School of Business Administration. “This grant will enable us to develop and carry out programs that enhance the international perspective of our students, faculty, and wider business community while helping to achieve the CIBER goal of strengthening U.S. competitiveness.”

The University of Miami CIBER will be supported by more than 50 faculty members from across the university and more than 50 community partners including Miami Dade College, the University of Florida’s Center for African Studies, and several foreign universities.

The CIBERs were created by Congress under the Omnibus Trade and Competitiveness Act of 1988. Administered by the U.S. Department of Education under Title VI, Part B of the Higher Education Act of 1965. The CIBER network links the manpower and technological needs of the United States business community with the international education, language training, and research capacities of universities across the country.


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Business-Minded Youngsters Visit UM to Learn the Secrets to Entrepreneurial Success

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Business-Minded Youngsters Visit UM to Learn the Secrets to Entrepreneurial Success

By Robert C. Jones Jr. UM News

UM alumna Jacki Stanley gives advice to youngsters during the national launch of the Secret Millionaires Club ‘Grown Your Own Business Challenge.’

UM alumna Jacki Stanley gives advice to youngsters during the national launch of the Secret Millionaires Club ‘Grow Your Own Business Challenge.’

CORAL GABLES, Fla. (October 20, 2014) – Jacki Stanley, B.B.A. ’12, was only 12 years old when her father told her about the dream he had in which someone told him to start a new line of sneakers for girls. “We were vacationing in San Francisco,” Stanley recalled, “and one day at breakfast, Dad starts telling us about his dream and drawing these incredible pictures of shoes.” It wouldn’t be until Stanley’s junior year at the University of Miami that she would partner with her father in launching a brand of shoes that encourages girls to be creative. Today, colorful Bobbi-Toads sneakers are sold with toes embossed on their white toecaps, allowing the wearer to embellish them with nail polish, clean them off the next day, and start all over again with any design they choose. Read the full story

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