STAR Annual Report 2021-2022

Annual Report

Word of the Chair

More than one year ago the XLIVth STAR Board took over and we started our new positions within STAR. After a great year with a lot of wise lessons and of course a lot of fun, it is time to hand over to the XLVth STAR Board. This annual report provides a comprehensive overview of the year 2021- 2022 and the events and strategic accomplishments, as well as STAR’s financial performance in that time period.

At the start of the academic year, it was very unsure what the influence of COVID-19 would be. The year before, the pandemic had a great influence on the operations of STAR. The previous STAR Board had to be very creative to pursue STAR’s mission ‘to enrich RSM student life.’ Luckily, we suffered less from COVID-19 in comparison with the previous year, but the pandemic certainly did have an impact on STAR. In December 2021, we even had to go into a tight lockdown, resulting in switching to online events. But the lockdown did not stop us, we were still able to keep adding value to RSM students. In March 2022, a lot of restrictions were dropped by the government, and we were able to run our normal operations again. In addition, we also spent a lot of time during the year further developing the strategic direction. We have taken the impact of COVID-19 into account and set up plans to bring STAR to a new height. A lot of initiatives have been launched and I am very proud of the results. More of this will be elaborated further in this report.

XLIVth STAR Board

Also, I would like to thank our faculty, the Rotterdam School of Management, Erasmus University, and our main partners PwC and AON. The relationship with these partners and their support have had a great influence on the ability of STAR to continue enriching RSM student life. I am honoured that I was in the position to lead STAR during the last academic year together with my eight fellow board members who became really good friends of mine. We have had an amazing experience and I am very proud of everything we have accomplished together.

I wish the XLVth STAR Board the best in leading the association during the next academic year!

On behalf of the XLIVth STAR Board, Renske Vermeer

History of STAR

Rotterdam School of Management

IIn 1969, the ‘Interfaculteit Bedrijfskunde’ (and later on ‘Interuniversitair Instituut Bedrijfskunde’ – IIB) was established, a joint initiative of various faculties of both Erasmus University and Delft University of Technology. In 1977, S.V.I.I.B. (Studievereniging IIB) was founded, an association focused on external contacts, internal contacts with scientific staff, and, of course, mutual contacts among business students. The exact meaning of S.V.I.I.B. was lost in 1984, when the faculty of Business Administration became an official part of Erasmus University, and so the name changed to Sviib.

As with the establishment of Rotterdam School of Management (RSM) as we know it today, which led to a more cohesive organization of BA, IBA and MBA studies, the aim was to achieve the same cooperation among study associations. Several daughter associations were established and later on consolidated as Master Study Clubs. More importantly, in early August 2005, Sviib and Bactive (association for students of the program in International Business Administration) merged to become STAR (Study Association of the Rotterdam School of Management), an association of both worlds and an international focus.

About STAR

Our best-known events are the STAR Management Week, which is the largest off-campus recruitment event of the Benelux; and STAR Erasmus Consulting, where students conduct research for companies in countries all around the world. Together with EFR, the study association of Erasmus School of Economics, STAR organizes the Erasmus Recruitment Days, which is the largest on campus recruitment event in Europe. Moreover, STAR hosts the RSM STAR Case Competition, where multiple teams from top business schools from all around the world compete by presenting their solutions to real-life business cases. Lastly, during Consultancy Castle seven top Strategy

Consulting firms present their company and host workshops to challenge and recruit students.

XLIVth STAR Board

Renske Vermeer

Deamy Verhoeven

Jasper Muller

Femke van den Berg

Lars Bloksma

Anna Aapkes

Koen van Cappelle

Thomas Wilmink

Tom van Gogh

Chairman Secretary

Relations Manager

Supervisory Board

Léon Hartkoorn

Bas van Leeuwen

Daphne Slingerland

Davey van Gilst

Lars van Straaten

Okke Bergers

Simon van Heijst

Meike Conijn

Marouchka Blahetek

Bas Zwaan

Eva Duin

Milou van Mierlo

Treasurer 40th STAR Board

Brand Manager 41st STAR Board

Project Manager Career 41st STAR Board

Commercial Relations Manager 39th STAR Board

Information Processes Manager 42nd STAR Board

Program Manager Eurekaweek Committee 2015-2016

Commercial Relations Manager 41st STAR Board

Commercial Relations Manager 42nd STAR Board

Chairwoman AFM 2017-2018, ECP Consultant 2016-2017

Chairman MSC Marketing Management 2018-2019

Chairman 41st STAR Board

Program Lustrum Committee 2017-2018

Verification Committee

Astrid van der Zanden

Jasmijn Bolhuis

Lars van Boom

Michiel Colijn

Tristan Boer

Bente Koeleman

Project Manager Master 40th STAR Board

Treasurer STAR Management Week 2019

Treasurer 41st STAR Board

Treasurer 42nd STAR Board

Project Manager Master 42nd STAR Board

Treasurer 43rd STAR Board

Strategy

On a yearly basis, STAR develops and executes a policy that is in line with its mission: ‘to enrich RSM student life’. In December 2021, the XLIVth STAR Board developed the policy for 2022, thereby considering the views of STAR’s main internal and external stakeholders. The policy development process has been critically reviewed, improved on, and supervised by STAR alumni with relevant experience. STAR’s Supervisory Board and Verification Committee have reviewed the final policy for 2022 and it was officially approved at the semi-annual General Assembly of Members in 2022.

STAR’s policy is developed within the framework of the association’s longterm strategy consisting of three strategic pillars, namely Career Start Support, Development & Academic Support, and Social Interaction. These three pillars are underpinned by the personal and professional development of our active members and the belief that every initiative at STAR should aim to have a positive impact on society.

Initiatives

The policy for 2022 exists of six initiatives, focusing on the following areas:

•

Reorganizing Consultancy Branch

• Redesign the portfolio to better meet the needs of RSM students

• Create and implement data-driven STAR organization

• Structuring the academic pillar and finding new ways to create academic value for RSM students

• Create and make use of a strong alumni network with engaged members

• Building valuable long-term partnerships with new initiatives around us

This annual report provides a high-level overview of STAR’s policy for 2022 and its defined strategic goals and objectives. For an in-depth explanation of all initiatives, I refer to the Policy 2022 document that can be found at rsmstar.nl

Achievements

Value Driver Result

Reorganizing Consultancy Branch

The STAR Consulting Academy has been established. Next to that, the Shadow Case Competition and a case solving training have been organized. Redesign the portfolio to better meet the needs of RSM students

An analysis of the previous portfolio and future student needs has been made. The responsibilities of the Commercial Team have been expanded and new ideas to improve STAR’s portfolio have been set up.

Create and implement datadriven STAR organization

The previous KPI’s have been revised, a plan has been made and implemented on how active members are able to get insight into data. A collaboration with a new partner has been started to build KPI dashboards.

Value Driver Result

Structuring the academic pillar and finding new ways to create academic value for RSM students

The academic student needs have been analysed, a R-studio workshop has been organized and an overview of all deadlines and exams for BA/IBA year 1 has been made.

Create and make use of a strong alumni network with engaged members

A Linked-In page for all full-timers has been made. It also includes the yearly automatic update of our alumni data. The connection between alumni and RSM students has been simplified and is now more accessible.

Building valuable long-term partnerships with new initiatives around us

Standard criteria for new partnerships have been set up based on the student needs and new collaborations have been created.

Balance Sheet

Assets

Intangible Assets

Share ERD Share ER Total: Intangible Assets

Fixed Assets

Furniture IT & Electronics

Brand Assets Website Total: Fixed Assets

Current Assets Inventory

Cash and Cash Equivalents (note 1)

Accrual Accounts

Receivables (note 2)

Total: Current Assets

Total: Assets

31/07/2022

2,378

6,559 8,504 18,226

7,000 75,000 82,000 2,246 0 13,168 2,782 18,196

383,483 -1,904 232,296

422,306 -1,641

High level of receivables due to many debtors. For example Erasmus Recruitment result of 97.5k had not been received yet. Furthermore, debtors were high because of relatively late year-end invoicing.

Balance Sheet (continued)

Liabilities & Equity

Liabilities

Payables

Services still to be delivered

Total: Liabilities

Equity Retained Earnings

Result of the year

Reservations and Provisions

Total: Equity

Total: Equity and Liabilities

14,793 21,621

79,498 63,189

43,882 49,893

Income Statement

Revenues

Revenues

Contribution students

Acquisition revenues

Contribution other Sales books

Provision revenues

Total: Revenues (note 3)

Cost of Sales (Committees)

Office supplies

Usage & depreciation Project costs Day programme costs

Travelling costs Recruitment costs

Marketing costs Costs books

Total: Cost of Sales (note 3)

FY 2022

268,569 340,496 97,267 706,332

(25,750) (372,349) (49,120) (110,216) (834) (50,931) (609,200)

FY 2021 40,186 115,095 76,356 231,637 (14,650) (34) (98,097) (18,577) (3,958) (285) (24,818) (160,419)

Note 3: Increase in revenues and cost of sales due to increased activities after Covid-year Note 4: High result Erasmus Recruitment due to acquisition period with forecast of physical on-campus event attracting many companies and thus high acquisition revenues combined with last-minute switch to online event due to covid restrictions resulting in low costs.

Audit obligation

Under section 396 (6) Book 2 of the Netherlands Civil Code, the association is exempt from the obligation to have the financial statements audited by an auditor. Consequently, no audit has been requested and therefore no auditor’s report has been issued.

Income Statement (continued)

Revenues FY 2022

G&A expenses

Office supplies

Usage & depreciation

Project costs

Day programme costs

Travelling costs

Board costs

Marketing costs

Other costs

Total: G&A expenses

Financial results

Cash register surplus

Interest revenues

Interest costs

Total: Financial results

Other results

Revenues and costs previous book year

Incidental results

Result Erasmus Recruitment (note 4)

Other

Total: Other results

FY 2021

(13,240) (13,834) (52,126) (271) (27,552) (634) 13,838 (93,818)

(958) (34) (992)

(4,991) 2,293 97,500 (17,626) 77,176

Result 79,498

(16,475) (24,936) (45,798) (742) (37) (22,264) (128) 8,829 (101,550) (5,479) (1,312) 55,835 25,184 74,228 43,882

10 (23) (13)

XLVth STAR Board

During the academic year of 2022-2023, the XLVth STAR Board will be there for you.

Stijn Ouwerkerk

Anouk van Balen

Patrick Stam

Mickey Kuiper Marc Slokker Caroline Janse Sophie van der Zandt

Lotus de Vries Sander Bruggeman

Chairman Secretary Treasurer Commercial Relations Manager Brand Manager Project Manager Bachelor Project Manager Master Project Manager Career Information Processes Manager

XLVth STAR Board

Colophon

Authors:

Renske Vermeer, Jasper Muller & Lars Bloksma

Copyright © 2022 Study Association Rotterdam School of Management, Erasmus University

Bides legal exceptions nothing in this publication may be copied and/or made public without prior permission from the publisher. We have taken the utmost care in compiling this publication. However, we are not responsible for errors or incomplete information.