Business Mgmt Newsletter_10.12.22

a story of perseverance

Department Chair on Power 30 List

Professor David Daniel appears on the Power 30 Higher Education List for 2nd year.

Crayola Lecture Series

The Crayola Executive Lecture Series kicked off on September 22nd with Eric Hyatt, the Se nior VP of Hardees as speaker.

Ventzislav

Professor David Daniel appears on the power 30 higher education list for 2ND YEAR in a row

Business management is the largest major at East Stroudsburg. “We are a student-focused department that takes great pride in providing students with a sound busi ness education, which will lead them to secure career op portunities and a productive life,” he said.

“To see our students succeed brings satisfaction beyond measure,” Daniel added. “It is a profound honor to help students achieve their dreams, whether that is launching a career or

business, starting a family or traveling the world. This is what motivates me to give my best for them every day.”

His most important business mentor was his mother. As a single mom without a college degree, she started a suc cessful business that defied the odds. “The most impor tant lessons she gave me include the importance of good character and ethics in business and life, and how to pray,” Daniel said.

“Always try to do the right thing, even when you think no one is looking,” he said. “Failure is inevitable on the path to success, but failure is not as important as how you recover from it. Unconditionally accept and love yourself. Learn to be OK with discomfort; it’s part of growth.”

Professor David Daniel, CPA, Associate Professor, Department Chair

faculty news

Dr. Tribhuvan Puri presented a paper at the World Finance Conference in Turin, Italy in Au gust 2022. The title of the paper was, "Long Run Equity Risk Premium in International Mar kets."

The paper presented proposes a Long Run Risk Model (LRR). With the assumption of Epstein-Zin (EZ) recursive preferences of a representative agent, the LRR considers three sources of risk that contribute to the equity risk premium. These are short run consumption risk long-run consumption risk, and the time varying volatility risk of economic growth. The expected future growth rate and time varying volatility are critical for invest ment decision. The LRR is evaluated for the US and ten other industrial countries (Australia, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United King dom). The LRR model can successfully replicate the important characteristics of international equity markets, captured by

Dr. Allen Lim is about to publish two books: The first book is called: Moving Ahead Towards Job Satisfaction and Career Security. The sec ond book is: Completing my PhD and Doctor of Business Administration Degrees Without Tears.

From the Moving Ahead blurb: " Is it a coin cidence that so many people rush into their careers without really thinking about what they want to do? Are you sick and tired of coming home from a long day job and having no idea how to relax? Worried about your future and unsure of what might happen in the next year or two, but not quite ready for a drastic change yet? Dr. Lim

faculty SPOTLIGHT

Dr. Douglas L. Nay is an Associate Professor of Management at ESU. He has taught graduate courses in the masters’ degree program in Leadership and Organizational Behavior and in the Management undergraduate degree for the past six years. This ESU experience followed ten years of teaching and as Chair of Management and Technology departments in Southwestern Florida State College, Fort Myers, Florida.

Doug retired from Dun & Bradstreet (now D&B Inc) as a Senior Vice President of Operations after many success ful years in management of D&B offices around the United States, moving fifteen times in the process. The manage ment roles included front-line, area, district, regional and na tional line positions and headquarters leading roles of Train ing and Development, Duns Dial (telephone sales and service), policy and public relations and more.

moments of mean, volatility and first order autocorrelation of consumption, dividend, risk-free rate and the stock return. Industrial countries have in general experienced high-risk pre mium and high volatility on equity, and low mean and volatil ity of risk-free rate with a notable exception of Japan, where the equity premium has been historically low even though the volatility has been higher. The Netherlands and Sweden have experienced relatively much higher risk premium. We also in vestigate the variance ratio of growth rates, the predictability of consumption, dividend, excess return and their volatilities. A co-integrating relation between dividend and aggregate consumption, a measure of long run consumption risk further explains a significant part of variation in dividend and stock return in the sample countries.

argues that taking time to think about your future, the steps you need to take in order to get there, and who you want to be is the first step in taking control of your life. Are you ready to take that step?"

He also led European Data Quality and US Data quality during the same three -year period as an ex-pat in London, leading a team of European managers in implementing a relational database to standardize data content for newly implemented credit models for busi ness. In that process he had a brief or longer working relationship with fifty countries in Eu rope, Asia and South America.

What does perseverance look like? ASK VINNIE.

The next time you’re ready to throw in the towel – remember Ventzislav Bojankov, or Vinnie, as he’s known to his friends.

Vinnie is a senior in the Business Management major at ESU. You may see him and his mother, Rossitza around campus or he may be in one of your classes. Vinnie’s goal is to graduate with a degree in Business Management. And he plans to graduate with excellence. He’s a full-time student and has a 3.933 GPA. He has been on the Dean’s list at Northampton Community College and at ESU. He’s a member of Phi Theta Kappa honor society and the National Society for Leadership and Success. At NCC, he was awarded certificates for the Rise Leadership conference; the Leadership Journey series (Student Affairs Edition) and the Emerging Student Leaders series (Understanding our Personal ity Edition).

Vinnie was born in Bulgaria, and went to primary school in Dub lin, Ireland. When he was 17, he travelled with 20 other students and represented Bulgaria to the European Parliament in Stras bourg, France. He was chosen to speak to the Parliament. In 2012, he moved to the United States and attended high school in Pennsylvania. As a teen, Vinnie was smart, but didn’t think he needed to apply himself to his studies. He constantly told his mother, “C’s make degrees.” He thought he could do just the least amount of studying and be satisfied with the results.

In August of 2014, Vinnie was accepted to the International Business program at the University of Bulgaria. He attended the school for only two months. On November 29, 2014, Vin nie’s life changed. He was the lone survivor in a car accident that killed his two friends.

Vinnie spent three months in a coma and, to date, has had fortynine life-saving surgeries in Bulgaria, Germany and the United States. There will be more surgeries in the future.

He had a severe traumatic brain injury (TBI). Vinnie’s accident has caused extensive trauma and he will live with physical, functional, emotional and cognitive deficits for the rest of his life.

What good could come out of this? Vinnie believes he has been given a second chance at life.

“Today I am a disabled young man. This horrible, tragic accident completely turned my life around. When I opened my eyes after

three months in a coma, I was impressed by the beauty of na ture that I saw from my hospital room window. I was touched by the warmth of the compassionate, kind, caring and loving staff in the hospital, who worked to take care of me and my family’s needs. Before the accident, I would have taken these things for granted. I woke up as a different, transformed person."

"I am still asking the question: What is the purpose of my life? Why was this incredible opportunity given to me to continue my precious journey on earth? Why was I given God’s blessings for life, but not death? I am not clear what my mission on this earth is, but one thing is clear: I take my second chance at life serious ly. I take it as a very big responsibility. I promise myself that I will put all my efforts and energy to touch broken human hearts, the lost, the desperate, the sad and empty souls who need to heal. I hope to help troubled young people who have been re jected or wounded physically or emotionally. I want to make an impact; I desire to make a difference for those who have given up on life, or have decided there is no Light in this world or hope for tomorrow."

The young man who once believed that “C’s makes degrees” now must put in several hours a day of reading, studying and preparing for his assignments. His GPA does not come easy; it is a daily struggle, but he believes it is worth it.

"The last seven years of my life have been hell, hard beyond imagination, but I survived. I proved to everyone, including my self, that nothing is bigger than the power of the human will, than the human spirit, human psychology and the desire for life."

"After the accident and the head trauma, my memory is not the same. Short term memory loss is still my challenge. But through hard work, study and writing assignments, I feel there is improvement. I am confident that my memory will slowly come back."

"My dream is to graduate, earn a degree in Business Manage ment and contribute to society."

So what is your excuse for not finishing with excellence? What’s holding you back? What do you plan to contribute to society?

Vinnie Bojankov

Accounting professor moves from across the pond

Dr. Inalegwu Ode-Ichakpa, Accounting Professor, began teaching at ESU in Spring 2021. He is from Manchester, England. His research areas include Corporate Social Responsibility, Corporate Governance, International Financial Regulation Standards and Supply Chain Integration.

"I teach a variety of accounting and finance courses, with industry experience in pension and mutual funds. I have been teaching since 2013. I have taught students at different levels from pre-degrees, and undergraduates, postgraduates and have successfully supervised over 70 masters dissertations and 2 Ph.D. Doctoral candidates.

The subjects I have taught are: Financial Accounting, Performance Management (the US calls it Managerial accounting), Corporate Finance, Financial Analytics, Financial Management, Auditing, etc."

Entrepreneurship Professor joins the FACULTY and lets freshmen know: "I'm new too!"

Greetings!

I am Dr. Carol Dimopoulos, a brand-new faculty member, serving as an assistant profes sor of entrepreneurship in the department of business management. I am honored to join the esteemed faculty, and chose ESU specifically based on the student centric culture. I have achieved many goals in my life. Working my way up the ranks as a top woman ex ecutive to CEO and entrepreneur in the tourism industry. I stood in front of a dissertation committee to earn a doctoral degree. I have also been a business professor at several SUNY (State University of New York) colleges for the past 14 years. I’ve traveled around the world, have met and studied with world leaders and successfully faced seemingly endless challenges. One may think, it will be a piece of cake to start in my new position at ESU and be 100% confident. Wrong. I was completely nervous and anxious, terrified really, about starting the role and arriving on campus to begin my new adventure. I had no idea of the campus layout, where to find my keys, badge and parking pass. I felt lost, alone and was wondering what I was doing.

However, from the moment I accepted the position and arrived on campus each and ev ery person I encountered has been a guide. Friendly, helpful, and kind. I was shaking as I walked into Stroud to teach my first class. I had no idea of how the technology worked. As I was fumbling around to find the elevator buttons, I was fortunate to meet with David Parfitt from our IT department who walked me to each class and showed me how ev erything worked. The positive encouragement from faculty in my department as well as many other departments. Our department chair, Professor Daniel, who walked me through all my questions and concerns. Dean Williams who hosted an event to welcome faculty in the business division for the 2022/23 semester. I was teary at Convocation hearing the wise words from our President Kenneth Long and Provost Margaret Ball as well as the guest speakers. While the ceremony is held to welcome our freshman and transfer students to campus, I also felt the community welcoming me. Truly, I knew I was in the right place when the students warmly greeted me with shoutouts of “Welcome to ESU, Dr. D.”

I know now that I have a community at ESU and so do you. My office is in Gessner 202. Please stop by during my office hours. I look forward to bringing innovative education in the field of management and entrepreneur ship to you all.

Wishing you a great semester and remember, you are never alone.

During bear market, Investment club Roars back to life

Dr. Daisy Wang reactivated the Investment Club and had at least 45 students attend the first meeting on September 12th. The ESU Investment Club is established to help stu dents obtain knowledge in building wealth in various financial markets, including the stock market, FOREX market, bond market, and derivatives market etc. Students can pick one area of their personal interest to focus on. In the beginning, they will introduce the basic fundamental

and technical analyses. They will be using the platform from TD Ameritrade mainly, called ThinkorSwim (they don’t charge fees). Other platforms are also welcome. Later on, when students are equipped with basic knowledge, they will invite experts from different areas to talk about different investment strategies. The club welcomes part-time and full-time East Stroudsburg University students. The Investment Club meets on Mondays from noon to 1:00 pm and on Tuesdays from 2:00 to 3:00 pm in Gessner 117 (the Bloomberg Lab).

about the Investment club president AND Vice-President

My name is Salah Gaddy, President of the Investment Club. I'm a first year Business Management major with a focus in Entrepreneurship which is the process of planning, developing, and running your own businesses. Personally I'm considering switching to Accounting as a major because the idea of running my own books is intriguing. When I came to ESU I wanted to bring DECA (an international competition of business and presentation skills) to the school and was prepared to develop the whole club from the ground up as a freshman. I then met Dr. Wang who needed help developing the 'Investment Club', I couldn't pass up the opportunity. I had been doing investing

The Investment Club appears to be a natural fit for Avia Bibeau, the Vice-President of the Club. She is a Junior and a Finance major. She enjoys reading investment books. She has been trading in Forex (Foreign Exchange Markets) since she was 17 years old. She also has interest in Options and stock holding. Her goal is to become an entrepreneur who assists students and young people grow their wealth through Financial Literacy. Her classes at ESU have all contributed to her goal, especially Business Analytics and English classes.

since I was 16 years old and would buy and sell clothes as a way to pay for my school clothes and phone bill. I grew up in an entrepreneurial family where most of the adults are either owners or agents for big companies. My family is big on no handouts and you get what you earn. Therefore after becoming 18, the stock market was nothing different from the clothing business that I been doing for two years. Flash forward to now and I have 3 year’s experience with options, trading stocks, FOREX, and business startups. I've been helping friends develop their own businesses and have my own photography and management businesses. In 4 years when I graduate from ESU I will have two business running that will be self-sufficient. I plan on wholesale buying and selling businesses and cars. In high school I took every management and finance class available at the school and my transcripts reflect this. With the knowledge I gained from high school, I was able to make money and take care of my immediate friends and family. There's no specific knowledge to know to help you as an investor. But general knowledge of the world will help you navigate changes based on history and predictions based on current world data. My advice to anyone looking to start investing is to join the investment club. We share our general knowledge and mistakes so that YOU can avoid OUR mistakes and be the best individual possible!

Internship Spotlight  Student learns the ropes at big four accounting firm

My internship was secured with the help of Professor Daniel’s recommen dation as well as my interview with two managers at the Harrisburg office. I started on June 9th and my internship ended August 11th. My position was a tax intern in the BTS Passthrough group in asset management.

The company I interned with is called KPMG. Their history is a little compli cated with multiple mergers. The firm was started by William Barclay Peat in 1891 who rose through the ranks of Robert Fletcher & Co. and renamed it once he assumed leadership. In 1897, JamesMarick started Marwick, Mitchell & Company and met Peat in 1911 when they were both passen gers on a ship from Europe to America. They decided to merge and become Peat, Marwick, Mitchell & Co. In 1917, Piet Klynveld opened an accounting firm in Amsterdam and by1946 when he passed he left behind the largest accounting firm in the Netherlands. The last founding father, Reinhard Go erdeler started a small firm named DeutscheTreuhand-Gesellschaft better known as DTG. By 1978 Peat, Marwick, Mitchell Company, now named PMI, was on its way to becoming one of the largest international firms, Klynveld joined forces with DTG and became KMG. In just 9 years PMI merged with KMG in 1986 and by 1987 the companies renamed themselves Klynveld Peat Marwick Goerdeler, better known as KPMG. This merger is known as one of the largest mergers in the history of accounting firms.

KPMG’s values are integrity, excellence, courage, together, for better. They truly follow-through with this as there is a lot of training to make sure that we know the exact course of action to do in any situation and how to avoid insider training and independence. Just last year their global revenues had grown 17% in advisory, 4% in audit, and Tax and Legal services having an 8% growth showing that their methods are working.

From what I understood through talking to my managers, the areas that we offer mostly are in tax, auditing, or advisory. All with the same structures with different names as the other big three accounting firms; EY (Ernst & Young), PWC (Pricewaterhouse Coopers), and Deloitte. The organization structure starts with interns or paraprofessionals at the bottom. After get ting a bachelor's degree or completing the internship they are offered a full time offer as an associate. Usually, people are associates for two to three years and then become a senior associate. After spending around 2-3 years as a senior associate an employee then moves into manager and senior manager roles spending around 3-5 years in each position. Finally at the individual firm branch level there are managing directors and partners. They are at the same level of responsibilities; however, partners have a stake in

the company.

My internship learning objectives were to become more educated in the accounting field as well as gain skills that I can carry with me to any firm or any business venture that I decide to move into. I learned how to manage work relationships through multiple meetings with managers and partners at the branch that I worked at. I think a class learning aspect that helped me the most during this internship is to never give up on a certain problem and to write good notes to look back on. Asking for help is always fine if you are showing that you are at least trying to understand and are doing something to improve. By writing notes I was able to ask better questions to build off the knowledge and skills that I had already mastered. Most of my objectives could not have been achieved if it were not for all the networking sessions that I was able to have as well as constant meetings with my leadership to guide me through my journey through every engagement.

I had an amazing time and was able to work for around 4 or 5 clients. I believe that if I stayed longer, I would have had an incredibly good learning experience overall with more confidence being gained every week. Unfor tunately, I did miss the busy season, so I was only able to prep one federal return but was able to become very familiarized with the K-1 retrieval and review process. I enjoyed that the management puts a lot of emphasis on delegating work to the people below you at a level as early as second year associates to prepare them to manage people underneath them by the time they are up for promotion in the coming year. I would tell a fellow student that this firm will teach you so much and make your internship very mem orable with the amount of training and entertainment they do for you to make you feel as comfortable as possible during your internship.

PLANNING AN

Jayden Deiter (right) with other student interns

Do What You Love and Never Work a Day in Your Life: Hasbro's design legend steve evans

As part of the Provost SeriesCollaboration and Entrepreneurship across the Colleges

BEERS LECTURE HALLFRIDAY OCT 14,2022 1:00 PM-2:00 PM

Join us for an unforgettable session with the Marvel at Hasbro, the design legend Steve Evans, a engaging creative global leader with over 20 years of experience in bringing brand stories to life for global consumers through product, entertainment and branding.

His accomplishments include:

Creative Director ~ Hasbro Consumer Products

Steering an international design team delivering trend-led creative material for global licensing partners for Hasbroowned brands:

• TRANSFORMERS

• MY LITTLE PONY

• POWER RANGERS

• NERF

• MONOPOLY

Director of Design & Development ~ Star Wars

Leading a small band of rebellious product designers for the relaunch of Star Wars in 2015. Introducing new creative standards and processes. Forging relationships with licensors and film makers. Helping to incubate and launch our ‘Haslab’ commercial platform and acting as fan community ambassador for the brand at Hasbro.

Director of Global Brand Design

Establishing Hasbro’s new ‘Brand Design’ department. Leading a team of 35+ graphic designers and managers in exploring and embracing the discipline of brand definition, articulation and implementation across multiple touchpoints.

The iconic entrepreneur and designer will share:

• His career journey.

• Entrepreneurial spirit (building your own doors to kick down and make opportunities).

• Do a job you love and never work a day in your life.

• Innovation - “DESIGN FOR BUSINESS"

CRAYOLA EXECUTIVE Lecture series CONTINUES FOR 2ND YEAR for COBM

ESU has partnered with Crayola in the development of a Crayola Executive Lecture Series for the second year. The series will be held in the Fall 2022 semester.

This lecture series offers students an opportunity to learn more about the career options, business chal lenges, life experiences and educational opportunities of its guests.

Fall 2022 speakers will include:

Eric Wyatt, Senior VP, Hardees Operations, USA, on September 22nd

Mike Wilson, Chief Experience Officer, Member's First Federal Credit Union on September 29th

Chris Paradysz, Managing Partner, The Advisory Labs, LLC on October 13th

Alfredo Garcia, Senior Partner, Managing Director, Snowden Lane Partners on October 20th

Nick Igdalsky, CEO of Pocono Raceway, Director of the Mattioli Foundation on October 27th

Nicholas Boyer, Chief Investment Officer, Executive Vice-President, RKL Wealth Management, on November 10th

Glenn Cademartori, Vice President, Marketing, Mount Airy Casino Resort on November 17th

John Diggins,Partner, Platinum Equity, Private Equity

Firm December 1st

The Crayola Executive Lecture Series is free and open to members of the public.