25 February 2013
KOKOMO, Ind. — The first day Shane Martin played the stock market, he chose his stocks quickly, and lost $30,000.
Senior Kayla Ashmore checks on the stocks using her tablet.It's not a mistake he's likely to repeat.
"I learned to do my research before I invest," Martin, a senior at Indiana University Kokomo, said. "If it's on a 52-week low or high, the odds are good it's going to go down."
Lucky for Martin, he didn't lose any real money — his purchase was part of a simulation for his investments class in the IU Kokomo School of Business.
Dianne Roden, professor of finance, includes the Stock Trak simulation in her class because it allows students to experiment with what they are learning in class without risking real money.
"It's about as realistic as you can imagine," she said. "It's real time, real prices, buying stocks, bonds, options, and futures. They can experience first-hand what we talk about in class."
Each team of students starts with a $500,000 account, to buy and sell throughout the semester. Roden awards a bonus to the team that ends with the most money, but encourages them to take risks.
"I tell them to have fun with it, " she said. "The more they do it, the more fun they have. Then I see them checking on it on their phones or iPads during class. They really get into it."
Senior Brandon Rose said he enjoys trying what he's learned in class, knowing he won't lose real money if his strategy doesn't work.
"You can be a little more courageous because it isn't real," he said. "It gives you a chance to apply what you've learned in class to a real-world situation. It's a lot different than reading about it in a book."
He appreciates that mistakes aren't hitting his real pocketbook, after one of his strategies backfired. He bought stock in Budweiser shortly before the Super Bowl, planning to sell quickly when it peaked. However, he forgot until the day after the game, when the value had dropped, so he lost money.
"That was a big mistake, and I won't forget and do that again," he said.
Kayla Ashmore, also a senior, said even though they aren't spending real money, it is still nerve-wracking to make choices and buy.
"I cringe spending that much money, even if it's fictitious money," she said. "I bought Apple when it was down, and then learned to be patient and wait for it to go up before I sold it, so I made money."
Martin said the losses feel real too.
"You have to learn to be patient and wait for a stock to go back up, and not panic and sell right away to get rid of it," he said. "It makes you furious to see a loss."
Contessa Lawson, a Master of Business Administration (M.B.A.) student, said she's built confidence in her ability to manage her own retirement portfolio from the simulation.
"When I opened my account, I didn't know what I was doing, so I just trusted my financial advisor," she said. "Now I can make a more informed decision."
Roden said that is why students benefit from the simulation, even if they don't become financial advisors.
"Someday they will have retirement accounts, and they will be informed consumers when they chose how to invest," she said. "I can talk about all these principals over and over, but it's a whole different level of learning when you experience it for yourself."
Indiana University Kokomo serves north central Indiana.
04 February 2013
KOKOMO, Ind. — Dane Miller sold $17,000 worth of orthopedic implants during his company's first year of business. Twenty-five years later, Biomet had grown into an international corporation, with sales of $2.8 million and locations in 90 countries.
Dane Miller founder of Biomet.Miller will share his insights on entrepreneurship and business success at 5:30 p.m. Tuesday, February 12, at Indiana University Kokomo. His presentation, "The Life and Times of Biomet," will take place in Kresge Auditorium. It is free and open to the public, and free parking is available on campus.
Erv Boschmann, interim dean of the School of Business, wants those attending to be inspired by Miller's story.
"Whether or not you are in business, to hear from someone who has had huge success in life is always worthwhile," Boschmann said. "But there is also the notion of being an entrepreneur, starting something from an idea and developing that idea into something useful, that is very satisfying to most people."
He said students would also hear about the importance of giving back, as Miller has also given to many good causes through his philanthropic organization.
"They will see that he started with nothing, and built a company that is always mindful of needy people in the world," Boschmann said. "We are honored to host him at IU Kokomo."
Miller, who has a Ph.D. in materials science — biomedical engineering, co-founded Biomet in Warsaw, Indiana, in 1977. The company started with money pooled by Miller and his business partners, along with a Small Business Administration loan. The company specializes in medical products and technology. Miller served as president and CEO until retiring in 2006.
For more information, or to RSVP, contact Terri Butler at 765-455-9275 or e-mail tbutler@iuk.edu.
Indiana University Kokomo serves north central Indiana.
25 January 2013
KOKOMO, Ind. — Talal Al Hammad expected Kokomo, Indiana, would be a lot like New York City, because of what he had seen in movies.
Saudi Arabian studentsHe left his home in Saudi Arabia to earn a Master of Business Administration (M.B.A.) at Indiana University Kokomo, and has been pleasantly surprised by life on a small campus. He especially enjoys the relationships between students and faculty, who are on a first-name basis, and have provided support every step of the way.
"The faculty are really friendly and helpful, and so are my classmates," he said. "I feel like I've become part of the community. I'm really happy to be here."
Al Hammad is one of 15 Saudi students enrolled in the program. He wants to learn more about American culture while earning his master's degree, and also hopes to teach his classmates more about his country.
"Many Americans think of the Middle East and believe we still have camels and tents," he said. "I hope we are building a bridge between us now, and we can make stereotypes vanish, hopefully forever."
Gloria Preece, M.B.A. program director, is excited to have so many international students, and for the chance for the American students to learn from them as well.
"Diversity plays an important role in education," she said. "Having students here from other parts of the world brings many new perspectives into the classroom and campus. I've really enjoyed meeting all of our new students from overseas. We look forward to helping them achieve their dreams of succeeding in a global business economy."
Al Hammad found the M.B.A. program while searching online. He contacted Preece through Facebook for more information, and said she had replied with answers to all his questions within an hour. She then worked with the Saudi Arabian Cultural Mission to gain approval of IU Kokomo's program as one Saudi students may attend on its scholarships.
"It would not be possible for us to be here without Gloria's help," he said. "We are all very thankful to her."
He was the first to enroll, starting classes in August 2012. After he was accepted, he immediately posted information about IU Kokomo on a Facebook page for Saudi students considering business schools in the United States.
"I had more than 100 replies asking me about it, which is how all the other 14 Saudi students knew about it," he said. They are all enrolled full-time, and will be on campus about two years to complete the M.B.A. program.
Mohammed Basurah looks forward to being involved with student activities, and was pleased by the variety offered on campus.
"I've been to two universities and didn't get the opportunity to be in activities," he said. "There are lots of interesting student activities here, which I have found to be an advantage. The students have been really friendly, too. We feel welcome here."
Al Hammad lives with his family in Indianapolis, where his wife is studying. Several of the other new students also commute from Indianapolis, but most have found apartments in Kokomo.
They're learning how to live like Americans, including eating the food. Saudi Arabia has many American chain restaurants, but the food doesn't taste exactly the same, Al Hammad said. Like most college students, their favorites are pizza and burgers. They've also learned that Americans prefer using debit cards, rather than carrying cash, and that many businesses, including gas stations, offer automated payment options.
Mohammed Alhargan came with some previous knowledge of the campus because his uncle graduated from the same program several years ago.
Abdul Aloqail is impressed with the business faculty, and the strength of the graduate business degree. Both of his parents studied in the United States, and told him not to be afraid to ask for help because Americans would treat him with kindness.
Basurah said they all have scholarships from their government, which sends its best and brightest students to earn advanced degrees, so they can come back and be their country's business leaders. Students may first spend 18 months at language schools, to improve their conversational English.
"We can gain the knowledge and experience to implement the best business practices when we go back, and use our knowledge to help the country," he said.
Al Hammad anticipates more Saudi students will come to IU Kokomo for graduate and undergraduate programs, now than an initial group has enrolled.
The scholarship program has been in place since 2006, and there are approximately 70,000 Saudi students and their families in the United States.
Indiana University Kokomo serves north central Indiana.
03 July 2012
KOKOMO, Ind. — Jennifer Rozzi made a crucial decision about the future of her family business, with help from Indiana University Kokomo students.
As vice president and co-owner of Rozzi's Catering, which her parents started as a neighborhood grocery store more than 35 years ago, she had to determine the company's future direction.
Continental Ballroom
Rozzi enlisted the help of IU Kokomo's Master of Business Administration students to analyze all her options, which included building or buying a banquet hall, developing products for mass-market sales, or opening a restaurant.
She used the analysis to build a business plan, which helped her get approval from her bank to buy the Continental Ballroom in Kokomo.
"The students determined that was the best plan, and it turned out to be the right decision," she said. "Adding the Continental Ballroom gave us exposure to the community, which helped us maintain our business through the economic slump."
She now recommends the free program to other area entrepreneurs.
"This is what our community needs to stay on top of economic development, to encourage growth and bring in a new generation of business-minded people and keep them here," Rozzi said. "We need to connect them with the community and connect the community with them. It's a brilliant program, and it will help the area as it moves forward."
Rozzi said the students she worked with brought new perspective to the business, along with five years of financial projections.
"As they take a look at your business, they see possibilities that maybe you don't see while you're in the midst of your business. I think that helps you to move forward."
Launa Bills, who earned her M.B.A. in May, found working with a local business gave her a chance not only to build on her areas of strength, but also to learn from classmates and their expertise.
"I had no previous business experience. All I had was book learning. This was a chance to use what I had learned in real life, to see how things work with an actual business," Bills said. "I could bring my own strengths to the project, and gain experience in areas where I needed to learn more."
Steve Cox, professor of finance, said the program reflects the current trend of business students having hands-on learning opportunities, and it benefits both the businesses helped and the students doing the work.
"By working with a business, students enhance their technical and personal skill sets, and they also build business contacts in the community," he said. "This will be a welcome addition to the students' résumés. The community benefits as businesses and not-for-profit organizations reap the benefits of the students' work."
The M.B.A. program is accepting applications from established businesses and start ups, entrepreneurs, and governmental and non-profit agencies, to provide teams of students to help transform the region's economy.
Gloria Preece, program director, said the project is now a required element of the MBA program. Faculty members will support the student teams through the projects, which may be completed during multiple semesters.
She said the program fits with Chancellor Michael Harris' campus themes of Academic Excellence and Student Success, Building Relationships and Making Friends, and Transforming the Region.
"We feel this is a great way to share our resources with the community," she said. "Our students also benefit, by using the skills they've learned in the classroom in a real-life situation."
Monty Henderson, business advisor at the Hoosier Heartland Small Business Development Center, is excited about the venture, saying it benefits both the small businesses and the students.
"The students are usually pretty eager to prove themselves and work in a real business. It's rewarding to the owners because they have someone look at their business from an outside point of view. It is a win for both sides."
Preece invites business owners to call her at 765-455-9269 or e-mail gpreece@iuk.edu for information to participate in the M.B.A. program.
Indiana University Kokomo serves north central Indiana.
07 January 2011
KOKOMO, Ind. – High quality education and exceptional faculty have earned the Indiana University Kokomo School of Business reaccreditation for another five years through the Association to Advance Collegiate Schools of Business (AACSB).
AACSB accreditation is the hallmark of excellence in business education and has been earned by less than five percent of the world’s business schools.
12 August 2010
Indiana University Kokomo welcomes Frank Wadsworth, Ph.D., as the new dean of the School of Business.
A former faculty member at IU Southeast for 17 years, Wadsworth brings with him not only an understanding of the importance of regional campuses, but his educational experiences in international business and marketing research and statistics as well.
