Metro News And Notes: Brexit Affecting UK Education, Hulu At UCLA And More
Good morning and happy Friday!
Here are a few stories you may have missed from the week that was …
Running a Company: Two UCLA Anderson MBA Alums Discuss
Entrepreneurship is one of the fastest growing career choices; Forbes estimates that approximately 543,000 new businesses are started each month. That said, the truth is that 90 percent of startups eventually fail, which makes it vital for budding entrepreneurs to learn from their predecessors.
Recently, Erik Basu, a UCLA Anderson School of Management MBA alum and Founder/CEO of Sentek Global, and John Tabis, Anderson MBA ’06 and Co-Founder of the Bouqs Company, shared their advice about running a company. And while both company founders offered different perspectives, their advice is valuable for any potential entrepreneur. Continue reading…
How UCLA Anderson Is Building Its Startup Community
Startups are booming in Los Angeles. Droves of venture capitalist from Northern California are now heading down south in search of better deals and new technology. According to CB Insights, around $3.5 billion in funding was poured into the LA area in 2016, a 25 percent increase from 2015. In fact, The Economist reveals that Los Angeles is now the third-most-prominent outpost for startups in America. So, it’s no wonder that Los Angeles universities are crafting their education with an eye toward entrepreneurship and the startup culture.
The UCLA Anderson School of Management is a great example of what it means to create a startup culture on campus. Entrepreneurship is intricately woven into the curriculum and opportunities on campus in such a way that it’s a vital part of the school. So, it’s no wonder that UCLA alumni are responsible for companies like Crazy Cart XL, Neural Analytics, BodySpec, Sugarfina, and more. And at the epicenter is the Price Center for Entrepreneurship & Innovation.
Price Center for Entrepreneurship & Innovation
The Price Center is the recognized leader in entrepreneurial education and research at the Anderson School. It’s a place where students, professors, and budding entrepreneurs can collaborate, practice entrepreneurship, and delve into business innovation. The Center provides a challenging interdisciplinary curriculum for students alongside real-world business experience to encourage new ideas and embrace the entrepreneurial vision. It’s also home to not only one of the largest clubs on campus (Entrepreneur Association), but the 10,000 square foot Anderson Venture Accelerator.
Anderson Venture Accelerator
The Anderson Venture Accelerator is a state-of-the-art facility that encourages students, faculty, and alumni to develop new business concepts together. It’s a multidisciplinary collaboration between students, entrepreneurs, campus researchers, alumni and the business community. It’s part living room, part laboratory and part conference center.
“The UCLA Anderson Venture Accelerator offers students and researchers an environment that triggers innovation and breakthrough ventures,” explained UCLA Anderson Dean Judy Olian. “It brings together students and faculty from across UCLA, including the health and computer sciences, engineering and the humanities to develop new ventures.”
Entrepreneur Association
As for the Entrepreneur Association, it has more than 600 members, making it among the largest student organizations on campus. Members can attend more than 100 events each year, averaging three per week, including networking events, hands-on workshops, world-class business plan competitions, conferences and more. As an example:
- Dinners for Eight: This program brings eight students into an intimate setting so they can get to know accomplished entrepreneurs and fellow students over dinner.
- Entrepreneurial Leaders Roundtable: This event welcomes a group of successful leaders below the age of 40, and allows students to network and get the inside track on running a company.
And for students who want to take the entrepreneurial track in a more competitive direction, there’s the Knapp Venture Competition.
Knapp Venture Competition
Now in its 36th year, the Knapp Venture Competition is one of the premier business plan competitions in Southern California. Students from across UCLA Anderson attend to showcase their talents and to participate in a unique venture creation experience that has been instrumental in launching numerous businesses. It’s a competition that is not just about gaining funding, but also about gaining advice and insight from successful entrepreneurs and business executives.
But it’s not just the co-curricular activities that make UCLA Anderson an entrepreneurial gold mine; it’s also the curriculum. For example, the MBA program offers students a chance to specialize in entrepreneurship by completing four courses.
Entrepreneurship Curriculum
At UCLA Anderson, classes dedicated to entrepreneurship can be specialized or general, depending on the student’s needs and wants. The various entrepreneurial course offerings at UCLA Anderson provide students with knowledge and perspective about the entrepreneurial process. Students will develop strategies to generate market interest, and simultaneously learn how to manage organization operations, transitions, and growth. Some courses include:
- Business Plan Development
- Business Law for Managers & Entrepreneurs
- Entrepreneurship & Venture Initiation
- Financing and Emerging Enterprise
- Managing Entrepreneurial Organizations
- Venture Capital & Private Equity
And these classes are all taught by area specialists and faculty who have distinguished themselves as business professionals. As an example, Daniel A. Nathanson is a Visiting Assistant Professor who teaches Business Plan Development. His background includes being the founder and CEO of Computerized Retail Systems (CRS), a turnkey, point-of-sale computer company that became a leader in its field. He’s also the founder and CEO of Washington Square Capital Fund (WSCF), a formalized angel group that invests in early-stage companies. Both of these experiences make him an invaluable resource for students, and he is just one example of the quality faculty at UCLA Anderson.
No matter you’re entrepreneurial interest at UCLA Anderson, there’s sure to be an opportunity, a class, a professor, or a business that fits your needs and wants.
Becoming A Pharmaceutical Brand Manager
The job of a brand manager is to create a lasting impression among their consumers and to improve their company’s product sales and market shares. These individuals monitor market trends and oversee advertising and marketing activities to ensure the right message is delivered. It’s a fast growing career field with the projected percent change in employment from 2014 to 2024 at 9 percent according to the Bureau of Labor Statistics.
For consumer goods companies and retailers such as Procter & Gamble, a Brand Manager position makes sense—it’s all about the product, placement, price and promotion—but what about the healthcare industry, in particular pharmaceuticals? Is a job as a Pharmaceutical Brand Manager unique and is it a good choice for MBA candidates? Continue reading…
Stanford Finds Link Between Stress, Time and Money
Stanford’s Graduate School of Business recently debuted new research from professor Jeffrey Pfeffer (no relation), Haas-Berkeley professor Dana R. Carney and UCLA Anderson School of Management professor Sanford DeVoe, which demonstrates the often harsh effects of time-money awareness can have on stress levels.
Big Data and Business: An MBA vs. Masters in Business Analytics
2016 was the “Year of the Data Analyst.” According to the U.S. Bureau of Labor Statistics, the job market for various data analyst positions is growing far faster than average—around 27 percent annually. In fact, 85 percent of Fortune 500 companies have either launched big data projects or are planning to do so.
Big data, which refers to the practice of analyzing extremely large data sets to reveal trends and patterns, is reshaping the business world—and it’s here to stay. Companies like Google and Amazon have dedicated significant resources to big data, and a report by PWC estimates that the big data market for financial services is expected to increase to $53.4 billion in 2017.
As for the job market for data analysts, the McKinsey Global Institute estimates that by 2018, the U.S. could face a shortage of 140,000 to 190,000 workers with “deep analytical skills,” and 1.5 million managers and analyst with the necessary “know-how” to interpret and apply big data.
In sum, the increasing emphasis on big data in business translates to a growing need for workers who are able to analyze data and communicate the results effectively. Because employers want graduates who can do this work, many business schools are rethinking their curricula and integrating data science.
