insideKellstadt

How Alumni Can Make the Most of Kellstadt Resources

Wednesday, May 16 2012 03:26:52 PM

By The insideKellstadt Team – As new alumni join the Kellstadt community this summer, it is the perfect time for a refresher on resources that benefit DePaul University graduates. Read on for quick tips on DePaul websites that keep you informed and connected.

insideKellstadt.com: This site pulls together resources from throughout the university and the business school.
- The Events tab includes listings from multiple calendars, including College of Commerce departments, the Career Management Center and the Office of Alumni Relations.
- The Connect tab links to business organizations (both student groups and national associations) and volunteer opportunities.

kellstadt.depaul.edu: The Kellstadt Graduate School of Business website puts a range of important details all in one place.
- The Academics tab lists facts about different degree programs, including Alumni Learning for graduates.
- The About tab links to FAQs and important contact information for the school.

mbacmc.depaul.edu: The Kellstadt Career Management Center provides guidance on career tactics.
- The For Alumni tab mentions how to be a mentor and how to hire fellow Kellstadt grads.
- The Step 1 tab leads to online resources and a chance to sign up for E-News, the CMC’s twice-monthly email newsletter.

alumni.depaul.edu: The main page for the Office of Alumni Relations is a portal for all DePaul alumni.
- The Class Notes page lets alumni submit news and updates about their lives.
- The Benefits & Services tab leads to university benefits, alumni discounts, alumni FAQs (including how to get a transcript), and more.

Getting to know all of these DePaul resources will let you better manage your career and stay connected to Kellstadt. If you have questions about the sites or about insideKellstadt, please contact the web team.

Is the Corporate Tax Rate Too High in the United States?

Wednesday, May 02 2012 11:50:27 AM

By Jay McIntosh, Adjunct Faculty – The maximum corporate income tax rate for 2012 is 35% in the United States. How does that number compare to other large, developed countries? And which measures would give the most complete picture of our rate versus the world?

Germany, the largest economy in Europe, has a corporate tax rate of approximately 16% and the United Kingdom, the second largest economy in Europe, has a maximum corporate tax rate of 25%. Japan, the third largest economy in the world (behind the United States and China) has a maximum rate of approximately 28%. Closer to home, Canada has the lowest rate of all of these countries at 15%.

One does not get a complete story, however, just by looking at the maximum federal rate. In the U.S., for example, many states have corporate income taxes that must be added to the federal tax to determine the effective tax rate. And in Germany, there is a municipal trade tax that can increase the effective rate to over 30%. Also, and this is a complexity that is the core of tax compliance and planning: What is income? Companies in the U.S. generally get more deductions against taxable income than in other countries and that reduces the amount of tax paid, but not the amount recorded as an expense for financial statement purposes. Generally accepted accounting principles require companies to record tax expense based on financial statement income, but companies pay income taxes based on taxable income. One way to increase government revenue without increasing the expense recorded by companies is close the gap between financial statement and taxable income. One could say “Mine the Gap” would be a good slogan for corporate tax reform.

Another point to consider is that taxes in the United States as a percentage of GDP are generally lower than in most of the countries that are members of the Organisation of Economic Co-operation and Development (OECD). Based on 2009 and 2010 statistics provided by the OECD, taxes as a percentage of GDP are 24.8% in the United States, 36.3% in Germany, 35% in the United Kingdom, 31% in Canada and 26.9% in Japan. How can that be the case? One reason is that, although the United States may tax corporate income at a higher rate, it is the only country of this group that does not have a federal tax on consumption. Germany, for example, has a value added tax (VAT) of 19%, Japan has a consumption tax of 5%, the United Kingdom has a VAT of 20%, and Canada has a federal goods and services tax of 5%. Another reason is that total federal, state and local corporate income tax revenue only comprises 6.9% of total taxes collected in the United States, based on 2009 data. That is a surprisingly low number given all the time, money and effort spent on corporate tax compliance and planning.

Jay McIntosh is Adjunct Faculty in the School of Accountancy and Management Information Systems at DePaul University.

White-Collar Crime: Why We Shouldn’t Ignore Ordinary People

Wednesday, April 18 2012 03:12:00 PM

By Kelly Pope, School of Accountancy – We all consider ourselves honest, hard-working people who strive to do the right thing. But do we? What are those small missteps that allow us to cross the line and engage in unethical actions that can alter our life indefinitely?

As I have spent the past four years developing the educational white-collar crime documentary “Crossing the Line: Ordinary People Committing Extraordinary Crimes,” I have met some of the nicest people. You would never suspect they would embezzle $9 million, duplicate bonus checks, duplicate expense reimbursement forms, falsify loan documents or create fictitious financial transactions. In fact, they were often described by colleagues as honest people: “She was the nicest person in the office” or “I would let her keep my kids” or “He was such a hard worker.”

As I have interviewed many white-collar felons through these years, people have often asked me if I have noticed a pattern. I think about this question after each interview and the conclusions that I have determined are the following:

1. All white-collar felons are not created equal. An individual’s rationalization for engaging in such behavior can range from corporate pressures, spousal pressure, a traumatic family illness or job loss. The felon who steals from the company typically has a completely different rationalization than the felon who succumbs to CEO and corporate pressure.
2. “I didn’t think I would actually get caught.” Many of the felons truly did not believe that they would get caught. They thought their fraud would only be a “one-time fraud” and no one in the company would ever find out. The discovery of fraud is usually just the tip of the iceberg. Just remember: you will get caught. In our current environment in which the whistle-blower is praised and protected, “Big Brother is watching.”
3. A sense of entitlement. This was a pattern I noticed more in the felons I interviewed who embezzled money and not so much in the people dealing with corporate pressure. It appears that they believed that they were taking “what was owed to them.”

“Crossing the Line” has been the most hands-on research project I have ever taken on. I have learned more than I would have ever imagined regarding the psychology behind fraud. Click here if to view the trailer for the documentary.

Kelly Richmond Pope is Assistant Professor in the School of Accountancy and Management Information Systems at DePaul University.

School of Hospitality Leadership Launches MBA in Revenue Management

Tuesday, April 03 2012 04:34:44 PM

By Thomas A. Maier, School of Hospitality Leadership – DePaul University’s hospitality school has become the only one in the country to offer an MBA in Revenue Management. The program is a partnership between the School of Hospitality Leadership and the Kellstadt Graduate School of Business.

Now that the program has launched, many hospitality industry executives are thrilled that DePaul is educating students with business core fundamentals and revenue management competency skills that are in high demand.

In the hospitality industry, revenue management is an approach adopted by businesses that want to optimize their revenue stream. This is achieved by gaining a thorough understanding of the marketplace, the manipulation of product supply and demand, careful competitive positioning and timing. The goal is to optimize income revenue from a fixed but perishable inventory and use information to segment markets and adjust products through distribution channels.

The MBA revenue management concentration focuses on the evolution of revenue management principles and practices within the hospitality sector. Revenue management concepts are addressed from a comprehensive perspective as they pertain to the importance of generating business revenues and contribution to overall financial performance within the hospitality industry. This field has advanced in both sophistication and complexity, increasing the need for enhanced development of human capital, investments in data analytics and integrated approaches to successful revenue generation.

The MBA in revenue management concentration, which includes two required courses and one tailored elective, is already being offered. Students can register through DePaul’s Campus Connect website and can email tmaier@depaul.edu to learn more about the program.

Thomas Maier is Assistant Professor of Leadership and Revenue Analytics in the School of Hospitality Leadership at DePaul University.

DePaul, CIMA Launch Collaborative Certificate Program for Interactive Marketers

Wednesday, March 21 2012 04:44:15 PM

By Kate Stevenson, Department of Marketing – DePaul University’s Kellstadt Marketing Center is launching a collaborative certificate program with Chicagoland Interactive Marketing Association (CIMA) to promote interactive marketing and tap into local experts.

The sold-out spring session begins March 27 and runs for six weeks. In light of the popularity of the course, a second session of the CIMA Interactive Marketing certificate program will be offered on Wednesdays, June 6 - July 18, 2012. Professionals are encouraged to apply as soon as possible because space is limited.

The Kellstadt Marketing Center is excited to collaborate with one of the most forward-thinking professional associations in the interactive space in Chicago, and CIMA shares that enthusiasm:

“As part of CIMA's devotion to the development and enhancement of the interactive space in Chicago, we are extremely excited and proud to partner with DePaul University to offer a new certification program that will help marketers with three years of professional experience improve their knowledge and application of interactive marketing.” (CIMA LinkedIn profile)

Students will benefit from the expertise of both J. Steven Kelly, associate professor of marketing at DePaul, and industry leaders. Topics will include terminology and strategy for Internet search, social media, web analytics, mobile marketing and digital display advertising. Sections will be taught by Chicago-area professionals who are experts in their fields.

This is a non-degree course, and will not be taken for credit. Instead, participants will receive an Interactive Marketing Certificate from DePaul upon successful completion of the program (passing an examination based on the concepts taught in class).

The six-week summer session will take place every Wednesday evening, 6 p.m. to 9 p.m., at DePaul’s Loop Campus. Classes begin June 6 and run through July 18, with no class on July 4.

To register for the program, visit http://cpe.depaul.edu/cima. Please contact Jurate Murray, associate director of the Kellstadt Marketing Center, at jmurray9@depaul.edu for any questions.

Kate Stevenson is Communications Coordinator, Kellstadt Marketing Center and Department of Marketing at DePaul University.

Students Mix Learning and Fun on Asian Business Seminar

Wednesday, January 25 2012 10:41:21 AM

By Emma Zimmerman, Student – Each December, DePaul students can travel abroad for business seminars. The Hong Kong and Thailand trip is two parts business, one part vacation, and without a doubt was the most unique and exciting experience of my life.

The two-week business seminar occurs over DePaul’s December intercession. The trip, led by Associate Professor of Marketing Roger Baran and staff member Sharon Eul, is open to both graduate and undergraduate students. Because students are selected for their academic and professional vigor, the group creates a challenging learning environment that fosters discussion during the 10 scheduled business meetings.

This year students met with a variety of businesses including amusement parks, hotels, PR and advertising firms, and retail stores. Since Baran has been leading this trip since 1992, he has established an incredible network that gives students the opportunity to speak with both business executives and people in other fields. Students learn about the unique challenges of marketing in countries with high government regulation and high cultural sensitivity. They also learn about manufacturing, trading and retailing in the two extraordinary cities.

The trip also incorporates cultural visits to the usual tourist attractions, as well as some hidden spots such as the Rainbow Seafood Restaurant in Hong Kong or the floating markets in Bangkok, Thailand. The weekend between the two countries is spent on a tropical island, Ko Samet, where students can relax by the beach, see traditional Thai fighting, rent bikes to tour the island, and so much more.

I was amazed at how many things were planned each day, but I wouldn’t have missed a single meeting or adventure. This short-term study abroad program allowed me to see more than I could have possibly seen on my own, and I felt at ease knowing Baran and our tour guides were there to give recommendations and advice. The accommodations were incredible and our group spent two weeks forming relationships that will last a lifetime.

Sure, we came back with a tan, but we also came back with a remarkable understanding of international business practices and foreign cultures. I would recommend this trip to any business student who wants to talk sales by day, and eat pad thai or take scenic boat tours by night.

Emma Zimmerman is an undergraduate student majoring in marketing in the College of Commerce at DePaul University. She will graduate in June 2012.

Paris Business Seminar Helps Students Build Cultural Skills

Wednesday, January 04 2012 02:23:03 PM

By Kate Stevenson, Department of Marketing – “C’est une experience” is a popular French expression about enjoying every moment. Business students at DePaul certainly had a trip full of experiences this December during the two-week Paris Business Seminar.

Both Kellstadt Graduate School of Business students and undergraduate College of Commerce students attended the trip, accompanied by Associate Professor of Marketing J. Steven Kelly and myself.

The goal of this yearly trip is to expose students to international business practices and help them become independent travelers and appreciate a foreign culture. We arranged ten visits to businesses in France including Veolia Environnement, Schneider Electric, Publicis Groupe, Digitas, Carlson Wagonlit, MetLife, Boston Scientific and Taittinger Champagne.

At Boston Scientific, Michael Onuscheck, the senior vice president of Europe, Middle East and Asia, explained how complicated international business can be, especially for a medical device company. Providing products to over 60 countries, each with their own regulations and policies on healthcare, can be a daunting task, and cultural understanding is key.

Alison Jarrett, MetLife eBusiness manager for Western Europe, taught us about living and working abroad. Her advice is simple but effective: “You are hired for your hard skills, but promoted for your soft skills.” These soft skills include understanding another culture, being able to conduct oneself professionally and adapting quickly—just the type of skills our students walked away with after two weeks of travel in Paris.

In addition to the business visits, experiencing French culture was a treat. As one student, Jenny Nuth, explained, “The food is magnificent. Even their ‘fast food’ is fancier than Illinois. For a reasonable price, we were served delicious gourmet foods. When I came back home to Chicago, I began missing the French cuisine.”

The food was just the tip of the iceberg. We also made a point to explore museums, ride the Metro train to every company visit, find St. Vincent de Paul’s grave, and navigate to different neighborhoods to make sure to get the full experience of Paris. We even visited two universities (ESSEC and SciencesPo) to have lunch with French students and compare educational experiences.

I would highly recommend that any business student consider taking a study abroad seminar. It can help you gain not only solid career advantages, but also the soft skills that will help you in all aspects of life. Merci DePaul!

Kate Stevenson is Communications Coordinator, Kellstadt Marketing Center and Department of Marketing at DePaul University.

Career Changers Embrace Kellstadt’s Accelerated Full-Time MBA

Friday, October 14 2011 11:01:54 AM

By Melissa Booth, Director of Admission – Fall marks the beginning of school across the country, and this year DePaul proudly welcomes our full-time MBA cohort class. This group of 54 energetic and eager career changers represents eight different countries and a variety of academic and professional backgrounds.

By joining this cohort program, students are committed to completing their MBA degrees in an accelerated format, allowing them the opportunity to return to the workplace within 18 months of beginning their advanced degree. The accelerated program is based at DePaul’s Loop Campus and offers the core MBA curriculum plus a choice of 35 MBA concentrations. Students in this program also benefit from working exclusively with our Kellstadt Career Management Center to hone the networking, resume writing and business etiquette skills needed to prepare them for interviewing.

Over the years we have worked hard to grow the full-time MBA program and attract students from all over the world, all in an effort to strengthen recognition of the program. We have seen a 15 percent increase in the size of the program since 2008. Our full-time MBA cohort is designed to provide students with a glimpse of working within a fast-paced, diverse environment.

For this year’s incoming class, 27 percent is from international student enrollment and 52 percent is from students coming to DePaul from outside of the Chicagoland area. Women represent more than 40 percent of the class. The incoming students also have diverse employment backgrounds. On average they have four years of work experience prior to starting their MBA degrees and come to us from various nonbusiness-related areas in law, architectural design and engineering, just to name a few.

We welcome the latest cohort of full-time MBA students to Kellstadt and are certain this experience will give them the foundation they need to be successful in business.

Melissa Booth is Director of Admission, Kellstadt Graduate School of Business at DePaul University.