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Kelley School of Business Indiana University Bloomington
Kelley School of Business

Kelley partnering with Indy Chamber to offer free Rapid Recovery Series webinars to help businesses impacted by COVID-19

Posted on by George Vlahakis

 

INDIANAPOLIS – Indy Chamber and Kelley Executive Education at the Indiana University Kelley School of Business are partnering to offer a webinar series that will give business owners best practices and strategies for reopening and recovering from the COVID-19 pandemic.

Free and open to the public, the Rapid Recovery Series will cover topics ranging from setting a recovery strategy and rebuilding business financials to repairing supply chains and attracting new customers. Each hour-long webinar will be led by a Kelley School of Business faculty member, with 45 minutes of presentation and 15 minutes of Q&A.

Charlotte Westerhaus-Renfrow, clinical assistant professor of business law and management, will lead the first session from 4 to 5 p.m. on May 26. Recordings of each session will be made available at Indy Chamber’s Rapid Response Hub.

Held each Tuesday and Thursday through June 18, the eight-part series will be taught by Kelley faculty at Indianapolis and Bloomington.

“The Indy Chamber/Kelley School of Business Recovery Series is a well-timed and perfectly targeted series of webinars for owners and leaders of small and mid-sized businesses,” said Richard J. Magjuka, faculty chair of Kelley School of Business Executive Education and the Fred G. Steingraber Chair in Distributed Education. (more…)

Scarcity reduces consumers’ concerns about prices, research shows

Posted on by George Vlahakis

BLOOMINGTON, Ind. — During the current pandemic, panicked overbuying of products such as toilet paper, cleaning products and similar items often has led to limited options for consumers and empty store shelves. What’s often left are generic or lower-priced branded products.

Ashok Lalwani

According to new research from the Indiana University Kelley School of Business, it may not be because consumers during this crisis are viewing higher-priced products as having better quality. A paper published in the Journal of Consumer Research finds that scarcity actually decreases consumers’ tendency to use price to judge a product’s quality.

“Scarcity is aversive and triggers the desire to compensate for the shortage, and to seek abundance,” said paper co-author Ashok Lalwani, associate professor of marketing at Kelley. “People who face scarcity are less likely to view less vs. more expensive options as belonging to different categories, and thus are open to differences at either or both ends of the price continuum.”

This is the first paper to directly show the impact of scarcity on price-quality judgments. The findings are applicable amid times of economic crisis, natural disasters and social disturbances.

“We suggest that people may not only differ in terms of how they categorize purchases, but also in terms of the extent to which they categorize, and scarcity reduces the tendency,” Lalwani said.

While consumers frequently judge the quality of a product based on its price, they change their thinking during times of scarcity and are less likely to categorize objects and less likely to use the price of a product to infer its quality, Lalwani and his co-authors found.

The business implications for managers at high-end stores or those who want to increase sales of high-priced items are numerous. Lalwani suggested that one way such managers can activate the belief that higher prices indicate higher quality is by varying context or environmental factors. This could include encouraging consumers — such as through contests or sweepstakes — to categorize assorted items by price to facilitate the use of price-tiers as a basis for judging a product’s quality.

“The same objective could also be attained by reducing consumers’ desire for abundance,” Lalwani said. “For example, inside the store, managers could have portraits, displays or ads highlighting the harmful effects of gluttony or hoarding behavior. Doing so may increase customers’ price-quality inferences and shift them from purchasing lower-priced to higher-priced goods.

“Our findings also suggest that when stronger price-quality inferences are desired, retailers are advised to avoid utilizing scarcity messages, such as ‘sale ends this week’ or ‘while supplies last,’ especially for product categories in which the proportion of high-priced items is high, as priming scarcity among consumers may decrease their price-quality inferences.”

Other authors of the paper, “The Impact of Resource Scarcity on Price-Quality Judgments,” were Hanyong Park, assistant professor of marketing at the Eli Brand College of Business at Michigan State, and David Silvera, retired associate professor of marketing at the University of Texas at San Antonio.

Students ‘zoom’ to promote good mental health during annual Kelley Impact Competition

Posted on by George Vlahakis

 

BLOOMINGTON, Ind. – Stay-at-home orders and other precautions against the coronavirus couldn’t stop organizers of the  Kelley Impact Competition from moving forward to help the nation’s largest grassroots mental health organization.

This is the 10th anniversary of the Kelley Institute for Social Impact, which organized the case competition for socially-minded undergraduate students. It’s also the second year for the event, which last year aided Habitat for Humanity of Monroe County.

The top three teams receive monetary prizes, but more importantly, the winning team also receives $10,000 in seed money to support their idea and hopefully create lasting change for the client, which this year was the greater Bloomington chapter of the National Alliance on Mental Illness.

Teams were asked to identify strategies that will increase the impact that the local NAMI chapter will have on the community and come up with methods to expand the reach of its message and grow its base of supporters and volunteers.

Last fall, Kelley 2011 alumnus Lance Breitstein, whose gift made the competition possible, asked the focus to be on mental health and wellness.

As part of its “Decade of Difference” celebration, the competition – which is open to all undergraduates at IU Bloomington — originally was scheduled to cap off a week of activities. As it became apparent in March that the coronavirus was going to affect campus activities, organizers moved it to April 24 and online.

Ten of the 12 original teams – each consisting of four students – remained committed. During the competition, they used Zoom to log in from all over the world — from India and China – as well as from all across the country – from Florida, California, Ohio, Illinois, Texas, New York – and, of course, Indiana. Also tuning in were 13 judges who included alumni and community partners. (more…)

Student in Master of Science in Healthcare Management program is flattening the curve

Posted on by George Vlahakis

 

 

 

Launch your career with a healthcare management degree. Apply by December 1: https://kelley.iu.edu/programs/ms-healthcare-management/

BLOOMINGTON, Ind. — When she enrolled in the Master of Science in Healthcare Management program at Indiana University, Cat Sartino had no idea she’d find herself on the front lines of a once-in-a-lifetime health crisis.

Back in June 2019, when the program was inaugurated, the world had never heard of COVID-19. Today, Sartino is all too familiar with the virus that has claimed lives around the globe and changed the way we live and work.

As part of the MSHM program, students are placed in immersive practicums that are more than internships. Sartino, as fate would have it, wound up in the infection prevention department at an Indianapolis hospital.

“Never in a million years did I think that we would be where we are right now,” she said. “Being at the hospital has made this pandemic so real. I am in it, fighting with my team. It’s scary, but I always think about how many people we are protecting and saving.”

On her team, Sartino is using her newfound healthcare management skills to help keep track of where COVID-19 patients are located throughout the hospital and strategically deploying personal protective equipment to those hot spot areas. It’s Sartino who is charged with reporting positive COVID-19 test results to the Indiana State Department of Health, and updating the department on any changes that occur.

(more…)

Faculty at Kelley offer their innovative and entrepreneurial expertise to fighting COVID-19

Posted on by George Vlahakis

 

 

 

BLOOMINGTON, Ind. – Faculty at the Indiana University Kelley School of Business are using innovative methods and their personal resources in the battle against the novel coronavirus pandemic that has now affected the lives of more than 8,200 Hoosiers and nearly 590,000 people nationwide.

Many of those efforts arose from an “Idea Sprint” organized by several management and entrepreneurship professors. They pulled together more than 200 entrepreneurs, coders, engineers, medical doctors, nurses, venture capitalists and other business professionals, who worked virtually and developed 19 potential solutions for problems arising from COVID-19.

Participants came from all across the United States and Canada and from four other continents, Australia, Europe, Asia and South America. The initiative was organized in just three days and led to the development of social initiatives addressing issues such as the shortage of surgical masks, grocery stock outs, displaced workers, small business matchmaking and online educational challenges now impacting students across the country.

“We all know there are great ideas out there related to this crisis. We wanted to find a way to quickly bring entrepreneurs, medical professionals, and technologists from around the world together to work intensively on solutions,” said one of the organizers, Regan Stevenson (pictured right), assistant professor of entrepreneurship and management and the John and Donna Shoemaker Faculty Fellow. “In order to do this, we knew we needed to move fast and step outside the institutional structure to get this movement off the ground immediately.” (more…)

The latest information about how to apply to programs at the IU Kelley School of Business

Posted on by George Vlahakis

 

BLOOMINGTON, Ind. – Recognizing the challenges and concerns presented by the ever-changing situation related to COVID-19, the Indiana University Kelley School of Business has extended deadlines for several programs and made other accommodations for applicants.

Below is information for each Kelley program:

Undergraduate Program (at IU Bloomington):

  • As stated by the IU Bloomington Office of Admissions, the deadline to reserve a seat in the undergraduate program for the upcoming fall term is June 1.
  • The latest information about admissions the Kelley Undergraduate Program is available at the program’s web site.
  • Details on virtual visit options (including one-on-one appointments) are available here for IU Bloomington and here for the Kelley School.
  • Residential Programs and Services’ web site has information about housing applications.

Full-Time MBA Program:

  • The Full-Time MBA Program, following their April 15 deadline, will continue to accept applications from domestic candidates on a rolling basis until June 1. Candidates will be given full consideration for admission and merit-based financial aid.
  • If disruptions caused by COVID-19 have delayed completion of the GMAT or GRE, candidates are welcome to submit their application prior to taking the tests. The admissions committee will begin the review process, but test scores must be submitted before a final decision is made.
  • While campus visits have been temporarily suspended, candidates are welcome to contact the program (iumba@indiana.edu) if they’d like to arrange a chat by phone or Skype with a member of the admissions team.
  • More information about the Full-Time MBA Program is available at the program’s web site.

Kelley Direct online MBA and MS Programs:

  • The application deadline for the fall 2020 cohort of the Kelley Direct Online MBA Program has been extended to July 15. In addition to experiencing the program’s on-demand virtual open house, applicants can also join admission staff for online office hours and register to attend live info sessions by visiting the Kelley Direct Programs Meet Us page.
  • The deadline for applying to Kelley Direct’s Master of Science programs is unchanged and remains Aug. 1.
  • The application deadlines for the fully online MS in Accounting via edX and MS in Information Technology Management via edX is unchanged and remains Aug. 1.

Master of Science in Information Systems:

  • Limited to applicants from undergraduate programs at Kelley, the Luddy School of Informatics and Computing and Engineering and +Kelley students (IU College of Arts and Sciences and DePauw University students only) graduating this spring with a grade point average of 3.5 or higher. Test scores may be waived.
  • Those applying must be nominated by a faculty member or academic/career advisor in writing, sent to msis@indiana.edu.
  • Deadline for applications to the MSIS is April 20 (was previously March 1). Applications will be processed on a first-come, first-served basis until the class is full.
  • More information about the MSIS Program is available at the program’s web site.

Master of Science in Finance:

  • The application deadline for the summer 2020 cohort of the residential Master of Science in Finance has been extended to April 30 from March 1. The program is set to begin with summer classes, most likely online.

Master of Science in Accounting:

  • The application deadline for the fall 2020 cohort for the Master of Science in Accounting will be extended to July 1 for U.S. students (from March 1). Test score requirements for Kelley Bloomington students and those with a GPA of 3.5 or higher will be waived. The program is set to begin in the fall with Jumpstart classes this summer, most likely online.

Kelley/Manchester Global MBA (Executive Degree Programs):

  • Students are required to submit results of the Graduate Management Admission Test (GMAT), the Graduate Records Examinations (GRE) or the Manchester Admissions Test (MAT).  The MAT can be completed from an applicant’s home computer after receiving the link from the Alliance Manchester Business School.  The link is requested on the application. When the application is submitted, the link will be sent.
  • The standardized test requirement will not be waived, and there will not be a deadline extension.  All applicants can take the MAT and submit the application by July 1.

Graduate certificates (Executive Degree Programs):

  • Graduate certificates offered online by Executive Degree Programs do not require that applicants take the GMAT or GRE. Application deadlines for each certificate program vary and remain unchanged. More information about each certificate program is available online.

Undergraduate Program (at IUPUI):

  • As stated by the IUPUI Office of Admissions, the deadline to reserve a seat in the undergraduate program for the upcoming fall term is June 1.
  • Housing applications also will be accepted through that date, but changes to submitted preferences on the application will not be possible after May 11
  • The latest information about admissions is available at the program’s web site.

Evening MBA Program (at IUPUI):

  • The Evening MBA Program will accept applications and admit students on a rolling basis, for either the August or November cohorts. The application deadline for an August start is July 16 and the deadline for the December start is Oct. 7. While those applying are encouraged to submit application materials as early as possible, please connect with admissions staff about testing postponements or other concerns related to applications.
  • In some cases, the program may be able to review applications without all the required materials. To learn more, experience an online info session or contact the program at mbaindy@iupui.edu or 317-274-4895.

Business of Medicine Physician MBA Program:

Kelley School helps businesses navigate through the COVID-19 crisis by providing free access to journal and podcast

Posted on by George Vlahakis

BLOOMINGTON, Ind. – In addition to being a public health issue, the novel coronavirus is endangering many businesses across the country and in Indiana. The Indiana University Kelley School of Business is responding to this need by providing free access to useful information through its Business Horizons journal and The ROI Podcast produced at the school at IUPUI.

Greg Fisher, the Larry and Barbara Sharpf Professor and an associate professor of entrepreneurship (pictured left), edits Business Horizons and has put together a collection past articles from the journal about how businesses can respond to this crisis.

Published bimonthly in partnership with Elsevier Ltd., Business Horizons often tackles important questions, challenges and matters facing the business arena. Elsevier is hosting the collection online and has made the included articles free for 90 days. This is a joint effort between Business Horizons and Elsevier.

“COVID-19 has created crises for many, and the ensuing social, health, and economic challenges require innovative and responsive solutions.,” Fisher said. “This is a time when we need leaders who are willing to adopt innovative business practices, scholars who embark on novel research to solve real problems, and a broad exchange of ideas to figure out ways to address challenges.

“With this in mind, we have put together a collection of articles from our archives that address issues within the five themes listed above. We hope these articles will serve as a catalyst for solving impending business challenges and for prompting new research and discourse,” he added.

(more…)

Here’s practical advice for teaching online, from an expert at the IU Kelley School of Business

Posted on by George Vlahakis

The Kelley Direct online MBA program at the Indiana University Kelley School of Business consistently is ranked No. 1 by U.S. News and World Report and other news organizations. Sarah Smith-Robbins, director of learning technologies at Kelley, can discuss the transition that many colleges and universities are having to make, from in-person to online instruction.

Smith-Robbins offers these tips:

Don’t try to recreate your classroom:“Learning online is different, just as holding a virtual meeting is different from an in-person meeting. Both residential class meetings and virtual class meetings have their drawbacks and their benefits. Take advantage of those benefits. For example, in an online meeting, more than one student can ask a question at a time in the chat. They can even answer one another’s questions there without interrupting the instructor. It’s also far easier for students to get together as teams and collaborate when they’re all online. Encourage them to do so.”

Let your hair down just a little: “Virtual class meetings allow you and your students to see one another in a different setting than in a classroom. Personalize the space that students see behind you when you’re on camera. Let them know a little bit about who you are that you wouldn’t typically be able to share. Login to live sessions a bit early to chat casually with students who are there. That informal communication matters.”

Consider the wide range of student circumstances: “Some students may have gone home to a fast internet connection and a great computer. Others may have to park their car in a parking lot to access free WIFI on a borrowed laptop. In either circumstance, your students want to learn. Do what you can to meet them where they are. For example, if you’re posting a pre-recorded lecture to your course, record it in a few short videos rather than one long one. The file sizes will be smaller and students will still see the whole lecture. If you’re planning to host live class meetings, understand that not all students will have the bandwidth to attend or might lose their connection in the middle of class. Post a recording of the session afterwards so everyone can participate. If you can cut the recording into several small videos, even better.”

Learn from other instructors:“It’s not often that faculty sit in on one another’s residential classes. In a typical semester, you may have little reason to compare notes on teaching methods with other faculty. However, you now have a perfect reason to compare what you’re doing to ensure that your students continue to learn. Why not practice holding online meetings by meeting with fellow faculty to share ideas about converting your courses to online delivery? Make use of your department’s mailing list to ask questions and learn from one another. If you’ve taught online before, offer yourself as a resource to faculty in your department who haven’t.”

Think of it as an adventure:“Though the situation that brought us to this point of teaching online at short notice is dire, we’re all in it together. No one expects your online course to be perfect. Consider it an adventure that you and your students are on together. They’ll forgive your mistakes and make a few of their own. Connecting with one another, even online with a few hiccups, will go a long way to ensuring that students still feel connected, considered, and cared for.”

Creating a legacy with The Consortium for Graduate Study in Management

Posted on by Kelley School

Members of IU’s inaugural class in a 1968 meeting with faculty member

 

As we celebrate Kelley’s centennial, we’re proud to be one of three founding members of the Consortium for Graduate Study in Management and a part of their commitment to enhancing diversity in business education. Hear from Kelley MBA alumni on the importance of The Consortium network. Kelley alumni of the Consortium for Graduate Study in Management include Louis Jordan, owner of Tympany Vineyards; Jill Rahman, the highest-ranking African-American woman at one of America’s largest food companies; and Fay Ferguson, the chief executive of the top African-American-owned advertising agency.

Learn more about Kelley’s rich history with the Consortium.

 

Conference to help early-stage life science companies connect with venture funding

Posted on by George Vlahakis

 

BLOOMINGTON, Ind. – Innovation needs investment, particularly in the early stages of development for many of Indiana’s life sciences companies. A conference being presented Feb. 21 in Indianapolis by the Indiana University Kelley School of Business will offer practical guidance on funding strategies and finding support from government, private equity firms and venture funds.

Kelley’s Center for the Business of Life Sciences will present the conference, “Capital Makes the (Life Sciences) World Go ‘Round,” from 9 a.m. to 3:15 p.m. at OneAmerica Tower, 202 N. Illinois St. in Indianapolis.

Participants will include managing directors and a CEO of several venture capital firms and executives in research and development at companies seeking cures for hepatitis and cancer and management of dental practices in humans and medical treatments for animals.

Keynote speakers will include David Roberts, chief innovation officer at the Indiana Economic Development Corp., and Nnamdi Alozie, director of corporate strategy/innovation at IU Health, pictured left.

Funding is crucial for early-stage and mid-stage companies prior to being able to issue stock and go public or merge with a larger firm. Funds are often used to pay for clinical trials and other research and development, including testing prototypes.

According to a recent report from BioCrossroads, 36 Indiana life science companies attracted a total of $74 million in venture funding last year. This was a double-digit drop from the year before, when 34 companies raised a record $115 million. On average, budding firms reached deals averaging $2.1 million year, which also was a sharp drop from 2018.

(more…)

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