Market results for the week of October 1, 2010 through October 7, 2010
DOW: 5 day change +1.49% S&P: 5 day change +1.48% NASDAQ: 5 day change +0.64%
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Up E c v o e m nt i : g WI . ravelocity Founder speaks at PSB
OCTOBER 13:
REGISTRATION BEGINS
MAJOR ADVISING EVENT
WHERE: 2ND FLOOR
MEZZANINE AREA OVER
THE CLARK CAFE, BURKE
CENTER
PIZZA AND POP WILL BE
PROVIDED
E-books out-
selling hard-
cover's
ARICA CHRISTMAN
business editor
Amazon reports that
over the past three months
the sales of e-books have
surpassed sales of hard
cover books.
Amazon states that their
recent sales have been 143
Kindle books for every 100
hardcover's.
For some the gap be
tween sales of e-books and
hardcover's is rising.
However, according to
industry sales, hardcover
books are "far from ex
tinct," states a New York
Times article.
The article also recorded
that sales of hardcover
books are up 22 percent
this year. The ex
plosion in sales of digital
books may be a surprise to
some, due to the fact that
they have only been on the
market for 33 months,
where Amazon has been
selling hardcover books for
15 years.
However, these sales are
a benefit to Amazon and an
asset to their business,
rather than a conflict of in
terest to their market.
quiot`e c:)1('
ehe toeek:
"Business, more than
any other occupation,
is a continual dealing
with the future; it is a
continual calculation,
an instinctive exercise
in foresight."
-Henry R. Luce
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STEVEN GALDO
business writer
Tuesday night in Burke Center
180, Penn State Behrend got a
taste of what it takes to become
an innovative business leader.
Terry Jones, the founder
of Travelocity.com and present
Chairman of Kayak.com shared
his insight on a lot of questions
regarding today's wireless ex
pansion.
"We live in a world driven by
speed and convenience," he said.
"Over 65 percent of travel is
booked online today, 80 percent
of home buyers search online,
and 74 percent of bankers bank
online."
Jones spends a lot of time with
his own consulting practice. His
presentation, titled "Leadership
in a Wired World," emphasized
the changing roles of business
leaders. Now more than ever,
leaders have to be technologi
cally savvy.
Two main focuses of the dis
cussion were the ability to inno
vate and build digital
relationships with customers.
"Everyone has realized they
can do it themselves," Jones said.
"The consumer's new tool is the
mouse. This is just the beginning
of web expansion."
Leaders have to understand the
relationship between the buyers
Continuing education
CHRIS HOLMES
business writer
As the Career Fair
wrapped up last Wednes
day, many disappointed
business students left the
Junker Center wondering
how their future was going
to pan out.
With the country's econ
omy struggling and an
enormous increase of uni
versity degrees nationwide,
it is becoming more and
more difficult to find a job
with an undergraduate de
gree. However, the answer
for many business students
may lie right under their
own feet.
The Penn State Behrend
Master of Business Admin
istration (MBA) degree is a
graduate program that
helps to expand problem
solving skills while apply
ing theory to workplace
challenges.
Depending on the num
ber of exemptions, it could
be a one-year program, in
cluding summer, spring,
and fall semesters, and can
EINEM
TIM
and sellers. As Jones reiterated,
technique follows technology.
Relationships are changing in
business, and customers are in
teracting with sellers in many
more ways than before.
All of this leads to more confu
sion and a greater demand for
those who understand technol
ogy.
Now it seems as if users can do
all but take over the world with
their phone. This is an example
of a short circuit or customers
going direct.
"Eliminate the middle man,"
Jones said. "Customers are inter
net empowered, tech savvy, time
starved, and information rich. In
2014 the web will influence 53
percent of retail sales."
In addition, e-commerce today
tends to be flawed in many ways,
Jones said. Complicated web
sites, a failure to market prod
ucts, and commonly a misunder
standing about what the buyer
wants are prevalent throughout
many industries.
Jones's prescription? Catering
to customers' desires, and focus
ing on simplicity.
"Smart brands are listening to
what customers are saying," he
said.
"36 percent of customers are
using reviews, and 98 percent say
they are effective. Researching
products is the second most com-
be started the semester fol
lowing graduation.
"Each student is able to
earn up to 18 credits of ex
emptions," says Adam Fra
cassi member of the
Graduate Admissions
team.
"If students get a B or
better in their core busi
ness classes like Econom
ics, Accounting, and
Marketing, they could be
eligible for 18 credits worth
of exemptions."
The degree is from Penn
State Behrend's Sam and
Irene Black School of Busi
ness, which is accredited
by AACSB InternatiOn4d, a
recognition that dnly 15
percent of colleges and uni
versities have earned
worldwide, incluiling buk
ness schools such as Har
vard, Stanford, and Vale.
The MBA program ha
been ranked as one of the
best in the country by U.S.
News & World Report and
The Princeton Review for
more than 5 years
For students that are un
sure of their future, or even
MOM
CA' P,
mon online activity."
A little constructive criticism
never hurt anyone. Jones used
the example of how printers offer
the option to automatically order
ink online when it runs out of
ink. This makes the product sale
part of the functioning of the item
itself, he said.
Companies often do not know
where to start. Jones offered his
advice to building a good corpo
rate team.
"The best ideas come from the
bottom," he said. "Have a balance
of views; do not just hire people
that are all alike. You want real
debate.
Companies have to experiment
and one person can make a dif
ference."
The night ended when Jones
made a com
parison of the
business
world to
Charles Dar
win's Sur
vival of the
Fittest
"Those
most respon
to
change are
most likely to
survive," he
said.
business professors with
out tenure, getting an MBA
degree from Penn State
Behrend may be the best
option.
As the number of stu
dents obtaining undergrad
uate degrees continues to
increase, a job applicant
with 'just' an undergradu
ate degree may look like
just another fish in the sea.
However, a master's de
gree from Behrend may be
the stand-out bullet on a re
sume that earns that first
job, and possibly a higher
salary.
Many students contem
plate entering the work
field and coming back to
school later in life to get
their
added
with the possi
ble ad M dedbenefit of their
company paying for their
degree.
It is important for stu
dents to carefully analyze
their Minas and . try t© .
avoid 'mistakes that they
- Iriereed Mrett,i*
s Many stifidentct the
,
idea of.aa NBA "use of
the. cost. However; getting
in a top
an MBA almost always
pays for itself.
The long-term benefits of
the MBA degree are gener
ally greater than the costs,
which should be enough
information to catch the in
terest of any business stu
dent.
"Deciding to get my
MBA is one of the smartest
choices I've made while I
was here," said Brian Cas
sidy, a second semester
MBA student at Behrend.
"The program is a whole
new experience for me and
I am getting the opportu
nity to apply my knowl
edge to more realistic
business scenarios."
The program is taught by
many of the same profes
sors that teach in the un
dergraduate level. This
allows most students to
keep their connection with
a person that they have al
ready created.
"Professor Jim Fairbank
is the boMb," says Cassidy.
As students near their
giduation dates and an
MBA becomes a serious
school
consideration, if is vitat
that students talk to their
advisors about how the de
gree would incorporate
into their career.
An MBA may not only be
a student's guide to success
for now, but it may be a ne
cessity in the future.
The Black School of
Business will be hosting a
series of information ses
sions for students that are
interested.
The first one was on Oct.
7, and the next two will be
held Wednesday Oct. 13
and Tuesday Oct. 19.
All sessions are held in
the Robert and Sally Metz
gar Admissions and
Alumni Center at 6 p.m.
Dr. Al Warner, Director
of the MBA program will
speak along with Admis
sions counselor Ann Bur
bules.
If interested in obtaining
information about the MBA
program, attend the info
sessions, or contact Ann
Burbules in the Admissions
office.