BEHREND BEACON
Business January 29, 2010
www.thebehrendbeacon.com
School of Business:
Upcoming Events
MONDAY, FEB. 15
6:00 P.M.
Speaker: Lorenzo Simonelli, CEO of
GE Transportation
Event: "CEO Conversation"
Location: REDC 180
THURSDAY, FEB. 25
7:00 P.M.
Speaker: Dr. Benjamin Powell
Event: "Sweatshops and Third World
Living Standards: Are the Jobs Worth
the Sweat?"
Location: REDC 180
THURSDAY, MAR. 18
5:30 P.M. - 7:00 P.M.
Speaker: Stuart Varney, business and
financial journalist for FOX News
Event: "Sweatshops and Third World
Living Standards: Are the Jobs Worth
the Sweat?"
Location: REDC 180
World & National
Business News
Supreme Court votes 5-4 to
uncap corporate donations
WASHINGTON, D.C. - A landmark
ruling by the Supreme Court will now
allow corporations to spend unlimited
amounts of money to support or op
pose politicians who are running for
President or Congress.
President Obama, in a statement re
leased after the decision, stated that it
has "given a green light to a new stam
pede of special interest money in our
politics."
He also stated that he would he
working with "bipartisan Congres
sional leaders to develop a forceful re
sponse to this decision."
Justice Anthony Kennedy wrote for
the majority.
"No sufficient governmental interest
justifies limits," he wrote, "on the po
litical speech of nonprofit or for-profit
corporations."
Justice John Paul Stevens, for the
minority, wrote that the decision
"threatens to undermine the integrity
of elected institutions across the na
tion. The path it has taken to reach its
outcome will, I fear, do damage to this
institution."
Apple launches iPad
This week, Apple launched its
newest device - the iPad - which it
calls "a revolutionary device for
browsing the web, reading and send
ing email, enjoying photos, watching
videos, playing games, reading e
books and much more."
The device, according to a release
from Apple, will be just 0.5 inches
thick and weigh 1.5 pounds, with a
9.7-inch display screen and what esti
mates claim is a 10-hour battery life.
The largest concern with sales of the
product, Apple has admitted, is that
users with smartphones will be hesi
tant to purchase a product so similar
to a device they already have.
Beginning prices place the iPad at
$499.
ETS Major
ARICA CHRISTMAN
howit.s , rely), to • Mai loqing maw,
Successful students and a qualified
faculty are two goals that Penn State
Behrend strives for each year when
students take the ETS Major Field
Test.
The Major Field Test that is given to
students in Bachelors and MBA de
gree programs at Behrend helps to
demonstrate the strengths of the pro
gram to prospective students. It helps
faculty, help ensure that students have
mastered their field of study, and it
prepares students to succeed by using
test results to improve curricula.
Ets.org says for Bachelors students
the test has questions designed to
measure a student's subject knowl
edge and the ability to apply facts,
concepts, theories and analytical
methods. For MBA students, ques
tions require knowledge of specific in
formation drawn from marketing,
management, finance, and managerial
accounting, or a combination of these.
The Major Field Test is a compre
hensive test of business understand
ing, which is why it is administered to
students in the Management 471 class.
These senior students are most expe
rienced in each area of the exam.
John Magenau, Director of the
School of Business, states that the test
is used as part of Behrend's assess
ment program and allows the Business
school to make improvements.
Teams of faculty review the tests
Behrend business school reputed
The
Princeton
Review
AKEEM MCINTOSH
hianc,, wooer • Alt', major
Each year the Princeton Review
compiles a list of the best business
schools in America. Although not in
any particular ranking and a number
one was not chosen, being noted to
this prestigious list is a great honor
and accomplishment.
For the 2010 edition of this list, the
Sam and Irene Black School of Busi
ness at Penn State Erie, The Behrend
College, has been named among the
best. In fact, it has been named on this
list every year since it began to be
compiled by the Princeton Review.
In order to be considered for this
list, the school has he to ranked in the
top third of the Association to Advance
Collegiate Schools of Business
(AACSB). According to the AACSB,
there are currently 579 schools that
are accredited, which means Behrend
ranked higher than 278 other institu
tions of higher learning. Once that
hurdle is clear the school has to allow
the Princeton Review to survey the
Business Internships available.
•
Bank of America ArcelorMittal AstraZeneca Pharmaceuticals
Technology Analyst Staff Accountant and Global Operations Associate -
Intern Program Financial Analyst Supply Chain
More information on internships and full time positions can be found online at:
http:/hvww.pserie.psu.edu/student/cdc/oncampusreerulting.htm
Field Test gauges business school
and help to find gaps in what was cov
ered, he said, a question that scored
low overall is a possible area that
needs improvement. Magenau said
that results will help to make sure the
school's curriculum matches the test
and will also display the quality of in
struction.
The Major Field Test is also used as
part of the school's accreditation. The
test is not required by the standards of
- ' 291 Major Field
1. Which of the following organizations is
most likely to use project financing?
A) A small startup
B) Financial services firm with an ex
tensive client list
C) A large consumer goods company
D) A large public utility involved in
infrastructure development
2. Littleton, Inc., has fixed costs of $75000
per month, variable costs of $5 per unit,
and a sales price per unit of $3O. What is
the break-even quantity per month?
A) 2,143
B) 2,500
q 3,000
D) 15,000
students about school's academics,
student body, and campus life. In this
survey, the Princeton Review surveyed
over 19,000 students at 301 business
schools and collected statistics and in
formation from school administrators.
So what exactly does this mean for
The Black School of Business? Being
recognized for academic excellence
and building a great reputation that
stands alone without the extra attach
ment of University Park is a wonderful
achievement for this small business
school. Not only can the school pub
lish this as recruitment for future stu
dents, but graduates can say that they
have received one of the best career
preparations in the United States.
"Now students from the Black
school of Business do not have to feel
that they have to transfer to Smeal for
a good education," said student Karl
Merandi.
Answers to Major Fields Test: 1. D 2. A 3. C 4. A
Tests
Sample Questions
How do YOU line up?
or answers, see bottom of page
the AACSB accreditation that Behrend
uses; however, an assessment pro
gram is needed, and this test provides
many ways of determining improve
ment. AACSB accreditation, the As
sociation to Advance Collegiate
Schools of Business, "represents the
highest standard of achievement for
business schools worldwide. Institu
tions that earn accreditation confirm
their commitment to quality and con-
(MASTER OP BUSINESS ADMINISTRATION)
411
3. Which of the following should be
shown net of tax on a corporation's
income statement?
A) Discontinued operations
B) Operating income
C) Gross Profit
D) Gain on sale of delivery truck
4. Increased globalization and technologi
cal change, particularly in telecommunica
tions, enable more organizations to adopt
which of the following organizational
structures?
.A) Functional
B) Matrix
C) Network
D) Mechanistic
A little perspective...
OTHER SCHOOLS ON 301 BEST BUSINESS SCHOOLS
Auburn University
Arizona State University
California State University
Carnegie Mellon
Clemson University
Columbia University
tinuous improvement (aacsb.edu)."
"The AACSB accreditation is one of
the oldest and most prestigious ac
creditation processes for business pro
grams," Magenau said. "Students
should understand that they are going
to a school that uses this esteemed ac
creditation."
There are many standards and crite
ria that are required by the accredita
tion, one of which is continuous
improvement. One way this can by
achieved is through "qualified profes
sors who are academically and profes
sionally prepared to teach the subject
matter," Magenau said. This is why
many teachers continue research, at
tend seminars and workshops, and
continue to gain certifications in their
field.
ustentag.
He stresses the importance of con
tinuous improvement.
"It's all about having a qualified fac
ulty and maintaining their level of
qualification," Magenau said.
Students also play a major role in
the improvement of the school. This
is why it is so important for students
to perform to their full potential so
that their scores on the Major Field
Test reflect their knowledge of the
subject matter.
In order to motivate students to
achieve these goals, recognition is
given for receiving a score in a high
percentile. Students should take pride
in their education from a quality pro
gram and strive for high scores on the
ETS Major Field Test.
highly
Dartmouth College
Florida State University
Georgia State University
Illinois State University
Stanford University
Texas A&M University
Beacon Business Staff
Business Editor
Garrett Carson
Business Writers:
Arica Christman • marketing major
Akeem Mclntosh • MIS major
Harmilee Cousin 111
Ohio State University
Penn State Erie, the
&blend Calkge
Penn. State University
University of Notre Dame
University of Virginia