Posted on

Finance Boot Camp – The Beginning

The COES & Prebusiness office has been hard at work all summer and this past month preparing the first ever FINANCE BOOT CAMP.  This highly competitive program is stirring up interest all over campus.  Here’s a quick overview:

  • 4-day immersion in the framework and careers of Wall Street.
  • Interview prep simulating the fast paced, intense environment of a Super Day.
  • Networking opportunity with HC alum working on Wall Street.

We have interviewed 78 extremely qualified candidates for 30 coveted spots.

This program, like all other COES programs, brings successful alumni back to campus to help better prepare HC students for jobs in business, specifically finance in this case.  It’s bound to be an intense and exhausting week and we’ll be blogging each day, so watch for updates.

As always, don’t forget to “Like” us on FACEBOOK and look for our WIB, SBP and ELW groups on LinkedIN!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

Summer Business Program: Week 3

Quinn is back with another SBP post!

Quinn Korzeniecki is a senior English major with a Pre-Business concentration. She is editor-in-chief of The Advocate, a progressive online publication at Holy Cross, and works as an assistant in the Vice President and Dean of Academic Affairs Office. As a participant in the Summer Business Program, she hopes to learn more about marketing and advertising aspects of business. Quinn aspires to enter into publishing either in the editorial, marketing, or advertising departments.

—

Wow, how quickly time passes when you’re learning about the different aspects of business!

As I said at the end of my last post, on Wednesday we learned about what it means to work in the financial sect of the business world as a venture capitalist and how to choose the best way to fund a new business. We learned about Warren Buffett’s amazing work as one of the most successful venture capitalists in his company, Berkshire Hathaway. As a member of a venture firm, one must value companies based on their profitability, growth, and risk. I learned a term I never heard of before: EBITDA, which means “earnings before interest, tax, depreciation, and amortization.” Tom Flynn instructed us to throw that term into a financial interview to clinch the position. In the end of the session we were sent off into our groups and assigned the task of picking which company we would buy stock in, either Facebook or Google. Although I am obsessed with social networking, my group ultimately picked Google because a new social networking site will probably enter the spotlight within the next year or so and make Facebook obsolete.

Two former football playing Holy Cross alumni came in on Thursday to speak about marketing and sales. Peter George, the CEO of Fidelis Security Systems, spoke about the qualities of a successful salesperson. He filled us in on SPIN, or the science of selling, which is a four step way to assure that you are maximizing your potential as a salesperson. Since I am competitive, smart, hard-working, and a team player, I could definitely see myself going into this field of business! Terry Waters, the CEO of the Yankee Group, taught us about B2B (Business to Business) marketing, through which companies sell products and services to other businesses that in turn sell them to the consumer. The best marketing departments have board commitment, knowledge of the target market, and have a clear, quantified, focused, realistic, and resourced marketing plan. All companies want to have a combination of vision and ability to execute, and those that fall short either run out of money and need to ask for more debt or equity or fail. It’s survival of the fittest in America these days!

On Friday, Ian Dowe, another football alumnus came to Smith Labs 155 to speak with us about advertising. This workshop was completely different from the previous ones: we were asked to bring in magazines and links to advertisements on Youtube and used these ads to learn what runs through the minds of those working in an advertising firm when they are creating one of these promotions. After analyzing a nail polish ad in which a woman’s fingernails matched the eyes of a tiger and wore a large diamond ring, I realized that advertisements do indeed play into our wants and desires: we all want to be more desirable, and advertisers play into this to get you to buy their product. We broke into our groups with the task of advertising a product: my group created a new product, the “Shrup,” or shrinkable and portable cup. It was interesting to learn about the thought that goes into advertisements and it was even more beneficial to advertise for a product ourselves.

After a weekend of relaxation, shopping in Providence, and more relaxation, we got back to the grind. Monday morning we received a brief introduction to microeconomics with Professor Cahill. We learned about making decisions based on weighing opportunity costs. In our teams, we competed against each other making deals that served as examples of imperfect competition: a lot of friendships were broken by cheating team members, but they made amends in the next round when we made bids on bonds. Some ended up winning by a large margin to keep the peace (but I don’t think that’s how it would work in the real world). In the afternoon we learned about business organizations ranging from sole proprietorships to corporations. All in all, the past four days were a great success, and I look forward to learning how to use Microsoft Excel in the business world.

—

Thanks, Quinn! If you have any questions about SBP, please email us at prebusiness@holycross.edu. Don’t forget to find us on facebook!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

Summer Business Program: Week 2 part 1

Our guest blogger, Quinn, is back with more from SBP.  I’ve asked her to share a brief bio this week as well.  ENJOY!

Quinn Korzeniecki is a senior English major with a Pre-Business concentration. She is editor-in-chief of The Advocate, a progressive online publication at Holy Cross, and works as an assistant in the Vice President and Dean of Academic Affairs Office. As a participant in the Summer Business Program, she hopes to learn more about marketing and advertising aspects of business. Quinn aspires to enter into publishing either in the editorial, marketing, or advertising departments.

On Friday, we learned about something for which my dad would be very proud of me if I could only accomplish it: personal finance, investments, and mutual funds. Professor Anderton taught us all about the similarities and differences between stocks and bonds. He stressed the importance of setting up a financial plan to control spending after graduation. Also, we discussed how profitable long-term investments can be especially if we start at our young age. Because of this workshop, I plan on saving the first significant amount of spare cash that I earn, investing it in stocks, and praying that in 50 years it will amount to 5 million dollars like it did for Susan Smith in the example. Hey, a girl can dream.

Along the same lines of personal finance, Professor Chu lead Monday’s workshop on accounting. We learned more about the individual shareholder’s piece of profit from stocks in the company. In the afternoon we learned about the terminology needed to understand the business world in general: one of the most interesting things I learned was that companies are obliged to report risk factors to the Security Exchange Commission. Therefore, when we had to list the cons of investing in the insulin pump company Insulet we realized that a natural disaster like the tornadoes that recently tore through Massachusetts could demolish the company’s only storage warehouse. Yet, sometimes the future benefits outweigh the present risks, and my group ultimately decided that we would invest in Insulet.

Monday night we enjoyed a banquet-style dinner and discussion with Peter Mondani, VP of Human Resources for General Electric, who taught us about business models, personal branding, and careers. We learned that it is best to “influence without authority” by changing the opinions and viewpoints of others although you’re not in an authority position. Exude confidence but admit to making mistakes and learn from them. Also, apparently we women get red necks during interviews when we get nervous. I guess I’m “investing” in a scarf for my quickly approaching job interviews!

Tuesday afternoon focused on the job/internship search and networking. I found this particularly helpful since I’m entering my senior year and feel helpless in planning for the real world. I learned the best way to reach out to alumni and maintain informal and beneficial relationships. All in all, I’ve learned how to balance my personal finances, invest in stocks and bonds, and plan for attaining my first full-time job.

Wednesday we learn about what it means to work in finance: don’t let the English major fool you, I also enjoy math!

—

Keep an eye out for Quinn’s posts throughout the month!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

No matter what they tell you, your GPA really does matter

Yes, I realize the timeliness of this post.  And, I am aware that it might even be a little cruel, but after surveying recruiters, it’s undeniable -if you want a job in finance, you have to boost your GPA.  There’s no way around it and unfortunately the minimum keeps climbing.

An alum at JP Morgan gave us the following cold-hard facts:

  • JP Morgan won’t hire anyone below 3.4 (there was an addendum that if you manage to WOW someone in hiring, he’s seen one or two 3.2s sneak in, but it is rare.)
  • The average cumulative GPA of new hires is 3.5
  • Some colleges and universities have long-standing grade inflation practices.  You might have to work harder for your 3.5 than the next girl/guy (and you’ve earned it), but on paper it all looks the same to recruiters.
  • It’s a MYTH that it’s okay to have a rough semester your freshman year. In the world of finance, everything counts. Find a tutor, join a study group, do anything to earn those few extra points – you need it.

So, keep up the hard work and realize there is a reason you are living in Dinand.

COES wishes everyone good luck on their finals!!

Don’t forget to find us on FACEBOOK!

Keep an eye out for our FINANCE BOOT CAMP posters throughout campus and watch for an upcoming post with more info!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

The Power of Possibility

While I’m not going to do this justice, Sheila Cavanaugh’s presentation on Tuesday night was too inspiring for me to not attempt to post some of her message.

When you wake up every morning, remember that you’ll never have another today.  Make it worth it.  The rest of you life is a question mark, so make sure you don’t settle.

If you don’t have a job the day you graduate, don’t fret. Keep at it. Things happen for a reason.  You’ll find a job and, more often than not, another after that.

Just because you work in the corporate world, doesn’t mean you can’t serve your community.  Companies have community outreach and development programs that do wonderful things locally and globally.

In a world full of criticism, take time to praise others.  Years ago, Sheila decided to start a movement to write letters of thanks and praise to help balance out the letters of disappointment and anger companies often receive.  Try to make your positive comments outnumber the negative.

Every person you meet in life is there to serve a purpose – to teach, to learn, to inspire, to challenge – don’t underestimate each interaction.  You might be passing up the chance to develop a life-long relationship.

That’s just the tip of the iceberg, so don’t miss Sheila the next time she visits campus.

That about wraps up our workshops and dinner speakers for the semester.  Stay tuned for posts about Prof. Chu’s financial portfolio class, CAM, and the Finance bootcamp we have in the works!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

An Update of Updates

Just a few things we really want to point your attention to this week.

First, one of our Executive Leadership Workshop participants is also a Blogger! Ted Cullinane ’14 wrote a fantastic post about his ELW experience over Spring Break.  Be sure to check out Ted’s Post to get a participant’s view of the program.

Tonight, Holy Cross alumni, Ryan Leonard ’09 and Alesandra LaPointe ’09 from Nielsen Company are hosting an event to discuss working in a financial rotational program.  From the Classroom to the Boardroom: Applying What you Learn at Holy Cross in the Real World will be held in Hogan from 6-8 Tonight, 3/31. You don’t want to miss it.

Here’s another even you can’t miss:  The Power of Possibility Sheila Cavanaugh ’81, a Senior Vice President at Fidelity Investments, wraps up our Dinner Speaker Series this semester.  Ms. Cavanaugh always draws a crowd when she comes to campus and is a favorite among the Women in Business conference panelists.  This event is open to a limited number of people so email Prebusiness if you would like to attend. The event starts at 5:30 p.m. on Tuesday, April 5.

Hope to see you at any and all of these events!

Just a quick reminder that we are accepting Summer Business Program applications.  The deadline is Friday, April 15.

Be sure to find us on FACEBOOK!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

Summer Business Program – 4 weeks to pave the way for the next 40 years of your life

We had a great turn out at Monday night’s Summer Business Program Info Session, but if you missed it here’s what you should know.

What you can expect to gain from SBP – Our Mission:

•       Leadership development and team building – skills you NEED on your resume

•       Moral values and ethical business practices – how Holy Cross students stand out

•       Functional and personal business skills –  your foot in the door to Wall Street and finance

•       Starting and managing a business – business plans, marketing, & growing your business

•       Team project  – practically applying what you are learning during the program

•       Visit to local business – seeing business in action in central, MA

Program Logistics:

•       Open to approximately 30 students

•       Housing in either Alumni or Carlin residence halls

•       Taught by alumni and some faculty – real world teachers who work in the business everyday

•       Daily interactive classes in the new science building, 9-12, 1-4 PM

•       Weekends free

•       Work on team project outside of class – your teams will meet in your free time

Team Project break down:

•       6 teams @ 5 per team – less or more depending on our applicant pool

•       1 executive mentor per team – a business executive to guide your project

•       Team Exec decides project/role of team – working to real expectations and deadlines set by Exec

•       1 meeting per week with your Team Executive (face-to-face or phone)

•       Dry run June 23

•       Team presentations June 24 – CASH PRIZE to winners

The Benefits of participating in SBP:

•       Comprehensive business education – a business background with your Liberal Arts degree

•       Skill sets: leadership, team, presentation

•       Networking – meet successful HC alum throughout the business world

•       Differentiation – stand out from your peers at HC with this on your resume

What’s this going to cost you:

•       $1,600—room and course materials

•       $1,400—commuter discount

•       Scholarships available

•       We DO NOT provide meals —Cool Beans, Crossroads, off-campus eateries, supermarkets

•       Cars allowed on campus – summer permits provided

How to apply:

•       Deadline: Friday, April 15, 11:59 p.m.

•       Online application, attach cover letter, resume, transcript

•       One recommendation letter

•       Interview

Let us know if you have any questions.  The Summer Business Program is a chance for you to stand-out in your interviews and prepare yourself for a fulfilling career in business.

We’ll see you there!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

ELW Winners!

Congratulations to the members of Team 4!

This winning team presented a business plan for a company they named “PoolA Palooza.”

This service would allow inground pool owners to utilize the area of their pool during the fall, winter and spring months by installing a safe and effective covering system.  Their cheery slogan “Take back your backyard” concluded a very professional presentation.

Our panel of distinguished alum declared them the winners, with a 3-way tie for second place.  They announced that all of the teams presented very innovative, creative, and organized proposals.

The week wrapped up nicely with a closing banquet, where students could relax and interact with our panel of mock “venture capitalists,” and murmurs of applying to the Summer Business Program passed throughout the room.

The only questions left is: How do you want to return from your Spring Break next year – Sunburnt or Successful?

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

From inside the Executive Leadership Workshop

40 students are dressed in business attire, they’ve already sat through an hour and a half of valuation presentations, they are neck deep in the financial data for Kayak and Google — and it’s only 10 a.m. on day 2!

Over the course of the week, these adventurous students (who have opted out of the typical Spring Break vacation) will get an intensive view of how to build, grow, and sustain a company.

Their teachers are Holy Cross alum that coming back to campus to share their stories and introduce important business techniques that will help these students be more prepared for jobs in the business world.

The schedule looks something like this:

Monday: Starting A Company

Tuesday: Valuing and Growing a Company

Wednesday: Business Market Game

Thursday: Managing the Momentum of a Global Enterprise

Friday:  …. is a little different.

On Sunday night, the students were broken into teams and given the task of (over the course of only this week) creating a business geared towards the 30-45 year old demographic.  Each team is responsible for coming up with a new idea, creating a business plan and presenting their business to an executive panel that will pick a winning team at the end of the week.

Friday morning, all 8 teams, will present their plans in hopes of being the victor!

We’ll update you on Friday afternoon with the results!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor
Posted on

Where Business and Service Meet

For all of the soul-searching, job-seeking seniors.

I have found that, upon graduation from a liberal arts institution, students are left with two common goals: “I want to make a difference in the world” and “I want to make a lot of money.”  This is bound to happen because in any notable liberal arts curriculum, students are conditioned to be both socially responsible and professionally successful.  More often than not, graduates are left choosing between taking that steady analyst position at a large corporate firm and teaching English in an impoverished South African village (believe me, I’ve been there. Choosing to go to graduate school to postpone making a decision may not have been my most enlightened solution).  These options might seem like completely opposite ends of the employment spectrum.  The truth is, though, that being successful professionally (in terms of both job title and salary) and making a global difference are NOT mutually exclusive.

Jobs serving the betterment of the community are not limited to government and non-profit organizations.  Despite common misconceptions, careers in business have just as much to offer the global community.  If a “higher moral calling” exists in the public (government) and social (non-profit) sectors, it exists in the business sector as well.   The truth is that “You can make a vital contribution in any of these three sectors, because all three are needed for a society to function well.  (If just one sector is weak or absent, the result is usually a failed state.  Think of the former communist states that tried doing away with private business, or the chaotic warlord states without effective government.)”  And while many are put off by the “corruption of corporate business,” keep in mind that there are dozens of examples of both virtue and vice in each sector.  No one sector monopolizes either corruption or morality. It is important to remember that goodness lies within the individual and in the moral decisions those individuals make regarding their work, not in any particular industry.

I recently read the book Half the Sky, which promotes the humanitarian organization by the same name.  The Half the Sky Organization is a non-profit that works to fight global poverty by unlocking women’s power as economic catalysts — transforming teenage girls from brothel slaves into successful businesswomen.  This non-profit organization is using entrepreneurial and business practices to fight extremism and poverty around the globe.  Yes, Half the Sky is a non-profit organization, but it is bolstering the business sector and suggesting (quite convincingly) that entrepreneurial endeavors, combined with education, are the most effective way to combat poverty.

The fact of the matter is that business strengthens a community.  It creates jobs, which in turn allows for the economic growth and security of individuals, their families, and by extension their entire community.  By entering the business sector and engaging in socially responsible business practices, you are making an irrefutable social contribution.

When it comes time to make a decision about your career path, I’m not suggesting that the business sector is the only place to look; however, I do ask that you not overlook it either.  Armed with your Liberal Arts degree, you have the tools to succeed in any job you choose and, with that ability, to better your life and the lives of those around you.  No matter what sector you find yourself in, you can make a difference in the world and be professionally successful at the same time.

Until next time!

Kaithlyn

Kaithlyn Kayer
Associate Director, Entrepreneurial Studies

David Chu
Director, Entrepreneurial Studies & Pre-business Advisor

Excerpts from “Where Goodness Lies: An Open Letter to College Students” by Judith Cone, Vice President, Emerging Strategies, Ewing Marion Kauffman Foundation.
All information about Half the Sky Organization is property of Halfthesky.org