Evaluating Financial Literacy Student Ambassador Program: A Student-led Approach to Promoting Financial Literacy
Guohua Ma, South Carolina State University, Orangeburg, SC, U.S.A.
Keli Feng, South Carolina State University, Orangeburg, SC, U.S.A.
The student-led Financial Literacy Student Ambassador (FLSA) program can provide an innovative, peer-to-peer education to college students and help address the challenges and needs faced by struggling, inexperienced college students who reside in underserved communities. This paper evaluates the effectiveness of the FLSA program at a minority-serving institution by measuring the financial knowledge level before versus after the presentation sessions conducted by student ambassadors. The topics of the student presentations include “Credit Management” and “Budgeting and Financial Goals.” The empirical results show that FLSA program improves students’ financial literacy level and the improvements are statistically significant for both topics.
Virginia Cortijo, Stonehill College, Easton, Massachusetts, USA
The teaching potential of multimedia resources, when properly used to supplement an effective educational system, is endless. This paper focuses on the academic uses of a specific television show, The Profit, to teach Cost-Volume-Profit (CVP) analysis to undergraduate students enrolled in Managerial Accounting courses. To reach this goal, I provide a lesson plan, with three distinctive parts. The pre-activity offers a set of real life companies featured in different episodes of The Profit that can be used to introduce the basics concepts of the CVP analysis and show students how companies use the information produced by this analysis to make their business decisions. The main activity is an exercise I developed based on one of the companies featured in the episodes we previously discussed in class. This exercise will allow students to understand, through practice with different scenarios, how profits increase when higher margin rather than low margin items make up a relatively large proportion of total sales. In the last part of the lesson plan, I suggest additional activities that instructors can assign to reinforce the concepts their students just learned.
The feedback collected from students who participated in this activity confirmed that this lesson plan helped them put into practice the concepts we study in the classroom and close the gap between abstract concepts and current business practices through the use of real companies, thus increasing their level of engagement and motivation.
Keywords: Multimedia resources, television shows, managerial accounting, Cost-Volume-Profit analysis.
Basic Guidelines for Common Business Statistics Metrics
David Weltman, Texas Christian University, Fort Worth, Texas, USA Mark Eakin, University of Texas at Arlington, Arlington, Texas, USA
Over the past many years of teaching students and conducting workshops for managers, analysts, and executives in Business Statistics and Analytics, participants have frequently expressed the need for a simple set of guidelines regarding interpretation of common basic statistical metrics: coefficient of variation, skewness, correlation, and p- value. This article does just that in a single-page, user-friendly infographic. These guidelines are not flawless, so they are “first-level suggestions” and there are exceptions where our guideless may not be useful, but we believe they are generally accepted and work well for most common business applications. Brief overviews, descriptions, and origins provide perspective for each metric guideline.
Keywords: Teaching Business Statistics, Metrics, Coefficient of Variation, Skewness, Correlation, P-Value
“Are there any Questions?” The Theory of Constraints as Justification for using Student Response Systems in a Required Operations Management Course
William G. Vendemia, Youngstown State University – Ohio, USA
While Student Response Systems (SRS) are among the most popular forms of educational technology, many faculty still question the value of using these systems. While the literature provides some evidence of success, it is far from conclusive. Meanwhile, the Theory of Constraints, originally proposed as a mechanism for improved manufacturing productivity, provides a framework for justifying the use of these systems.
Keywords: student response systems, theory of constraints, operations management
Embedding Ethics into MBA Marketing Coursework:
The Utility of a Trust Approach
S. Duane Hansen, Weber State University, Ogden, Utah, USA
Skyler King, Weber State University, Ogden, Utah, USA
Matthew Mouritsen, Weber State University, Ogden, Utah, USA
The marketing professions (especially advertising) are experiencing an erosion of consumer trust. Some surveys indicate that the majority of consumers distrust marketing and advertising professionals altogether. Although other contributing causes are likely, some evidence suggests that this distrust may in part be due to the way marketing is being taught in MBA programs. In direct response to this, we propose a "consumer trust" pedagogical platform for marketing education in MBA programs. We suggest that this platform is capable of helping to restore the trust of consumers and other stakeholders by way of training managers to prioritize ethical behavior and to emphasize long-term, as opposed to short-term, profitability. In addition to arguments in support of a trust-based teaching platform, basic pedagogical recommendations are provided stemming from the authors' experience in the MBA classroom.
Keywords: Trust, Trustworthiness, Business Ethics, Marketing, Marketing Education, Masters of Business Administration Degree, Consumer, Customer, Pedagogy
Business Student Internships:
A Pathway to Resolving the Perils of Unpaid Placements
Ann Marie Johnson, California State University, San Bernardino, California, USA
David L. Baker, California State University, San Bernardino, California, USA
Steady demand exists for business student internships. The for-profit, government, and nonprofit sectors seek to acquire business interns while assessing talent for future employment consideration. This article summarizes the pedagogical context that tends to treat all internships in a favorable light with no dark shadows. It links this form of service-learning to the often ignored unpaid internship realities embedded in the current legal landscape. It also casts a spotlight on an obscure corner of the employment market where those less affluent suffer the consequences of a competitive disadvantage when they can ill-afford an unpaid internship. Stakeholders have institutional and social obligations for student protection. Additionally, the article unveils the troublesome scarcity of internship data available to inform business schools and public policy-making. After highlighting the perils of unpaid placements, a pathway to resolving the uncompensated conundrum is outlined and the urgent necessity for more comprehensive data development and research advocated.
Keywords: Internships, service-learning pedagogy, business students, civil rights, social equity
Incorporating Digital Marketing in the Marketing Curriculum:
An Approach for Small Colleges and Universities
Retha A. Price, Mississippi College, Clinton, Mississippi, USA
The rapid adoption of digital technologies in marketing practice has challenged the relevance of traditional marketing curriculum. While some schools have met this challenge with digital marketing courses, concentrations and majors, small institutions may face unique obstacles. This paper examines the extent to which small business schools have incorporated digital marketing courses in the curriculum, discusses obstacles small schools uniquely face, and describes how one small private institution addressed these issues.
Keywords: digital marketing, internet marketing, curriculum development, marketing curriculum
Bridging the Gap: Engaging Business Sophomores to Ensure Information Literacy Competency
Heather A. Crozier, Ohio Northern University, Ada, Ohio, USA
Harry J. Wilson, Ohio Northern University, Ada, Ohio, USA
This project showcases a two-week series of assignments that are designed to illustrate the value of information literacy skills to undergraduate sophomore business students. We demonstrate how the project integrates with our business curricula and show how leveraging the expertise of librarians ultimately improves the quality of education for our students.
Keywords: Information literacy, library instruction, collaboration
Recommendations from the Field: Expanding Business Education in the
Small School Environment
Blakely Fox Fender, Millsaps College – Jackson, MS USA
Kimberly Gladden Burke, Millsaps College -- Jackson, MS USA
Susan Washburn Taylor, Millsaps College -- Jackson, MS USA
Due to changing market conditions, the overall demand for the traditional MBA is in decline. The trend is even more troublesome for small business schools as applicants seek well-known “name brand” programs. The combination of a declining MBA applicant pool and an increased demand for individualized experiences has led smaller business schools to consider executive education programs as an alternative to or supplement to the traditional MBA. This paper describes an established, non-degree granting certificate program that engages the community in learning the general areas of business. In addition to describing the program and its inception, the paper provides practical guidance for small business schools that are entering the market for executive education.
Keywords: BusinessCertificate Program, Executive Education, Business Skills, Business Education
5 S Framework: Great Assignments Made Easy
Mary McCord, University of Central Missouri – Warrensburg, Missouri USA
Lorin Walker, University of Central Missouri – Warrensburg, Missouri USA
Larry Michaelsen, University of Central Missouri Emeritus – Warrensburg, Missouri USA
This paper presents a practical framework (5 S) that can be used to create effective group and individual assignments in several disciplines and across several types of pedagogy. Assignments that use the 5 S framework naturally embody the requirements of both psychological (Kolb’s Cycle of Learning) and physiological (Co-Constructed Developmental Teaching) theories.
The 5 S method of designing assignments can be used independently in any curriculum but is especially effective when integrated into an experiential learning course. Originally promoted as a framework for team assignments in the Team-Based Learning pedagogy (Michaelsen, L.K., Knight, A. & Fink, L.D., 2004), the authors suggest ways to use it for both team and individual assignments. First, the paper will give an overview of Kolb’s Cycle of Learning (1985), which has 4 stages; 1) Concrete Experience, 2) Reflective Observation, 3) Abstract Conceptualization and 4) Active Experimentation. Then it presents the basic tenets of Co-Constructed Developmental Teaching Theory (CDDT). Next, the 5 S method of creating effective team assignments is explained. To be effective, the team assignments must meet five conditions: 1) Significant Problem, 2) Same Problem, 3) Specific Choice, 4) Simultaneous Report, and 5) Salient Problem. We demonstrate how both a learning style theory (Kolb) and a neuro-cognition theory (CDDT) are supporting the increasingly difficult task of preparing students for careers that require content depth to launch startups or content breadth to consider ‘big picture’ strategic problems. The learning foundation must ensure that students master a broad range of content such as marketing research, financial planning, and other elements of a business model. However, the reality of entrepreneurial or business strategy decisions, especially those that are technologically innovative, requires that students must also be prepared to deal with increasingly complex problems and to work in teams made up of peers who come from many different business disciplines and embrace the requirements of multiple organizational functions. As a result, business educators must design their courses to give students experience working in teams and on problems that reflect the complexity of the business environments in which they will be employed. The 5 S model can be used in almost any business course for both individual and team assignments. Examples of effective team assignments using the 5 S framework for courses in Capstone Strategy and Entrepreneurship, and examples of using 5 S framework to create effective individual assignments are given.
Keywords: experiential, group assignment, team-based learning, Kolb, Co-Constructed Developmental Teaching Theory, 5 S
Teaching Leadership Through Philanthropy:
The Experience of an MBA Course
Michael B. Vaughan, Weber State University, Utah, USA
Many MBA programs offer one or more courses focused on leadership. In these courses, professors draw upon a variety of resources to teach leadership concepts. These resources range from the theoretical and empirical research to case studies to popular movies. This paper details an innovative experiential exercise based on philanthropy to develop MBA students’ understanding of leadership. Importantly, the philanthropy project allows students to research, collaborate, resolve conflicts, and make decisions in an environment with actual consequences. Specifically, students allocate actual funds to a nonprofit organization. This paper describes the philanthropy exercise and student reflections on the project as a tool for teaching leadership.
Keywords: Case Method, Decision-Making, Leadership, MBA, Teamwork, Philanthropy
Building a Professional Development Conference for Students and by Students
Amanda L. Wilsker, Georgia Gwinnett College, Georgia, United States of America
Nannette P. Napier, Georgia Gwinnett College, Georgia, United States of America
Despite the growing economy, students remain skeptical about their career preparation. To better prepare students for the future, a professional development conference was created with the intention of exposing students to career paths and skills not explored within the curriculum. GEAR, Grizzlies Active Engaged and Ready, was planned by selected students and attracted more than 140 participants in its inaugural year. This paper describes the process of directing a student planned conference with particular focus on the division of responsibilities across student subcommittees. Next, the topics, speakers, and alumni panel are discussed. Participants’ feedback is then summarized. Finally, the authors discuss key areas in which the conference could be improved should others choose to implement the process, specifically (1) greater campus collaboration, (2) improved faculty oversight of student planning committee, (3) enhanced communication between student subcommittees, and (4) clearer establishment of roles and responsibilities.
Keywords: Professional Development, Student Engagement, Student Conference, Career Readiness
Teaching Statistical Computing with Python in a Second Semester Undergraduate Business Statistics Course
Justin O. Holman, Colorado State University Pueblo, Colorado, USA
Python has become one of the leading programming languages used by Data Scientists. As such, Python has also become a highly marketable skill for business students entering the job market. This paper describes efforts to incorporate statistical computing with Python into a second semester undergraduate business statistics course in which most incoming students have limited programming experience. Two free learning platforms, datacamp.com and repl.it, are trialed among students with mixed but generally favorable results in terms of classroom utility and student learning outcomes. An analysis of course evaluations indicates some students are reluctant to embrace statistical computing, preferring a traditional mathematics class structure, while others are grateful for the opportunity to learn new marketable technology skills.
Keywords: Teaching, Business Statistics, Analytics, Data Science, Python
Integrating Service-Learning in Business School Curricula
Kevin S. Thompson, University of Connecticut – Storrs, Connecticut, USA
The pedagogical value of service-learning in higher education is widely known (Fullerton, Reitenauer & Kerrigan, 2015; Grotrian-Ryan, Ryan & Jackson, 2016; Perry & Katula, 2001) and a number of universities include service-learning courses in business curricula (US News and World Report, 2018). To support the expanded use of service-learning in business schools, this article outlines the design and delivery of a non-profit consulting course. The outline includes high-level course design, engaging with potential non-profit clients, scoping projects, developing student consulting skills, supporting and facilitating service-learning projects, determining student success, and post-project client follow-up. The article pertains to a service-learning course which instructors can offer at the undergraduate or graduate level.
Keywords: service-learning, business school, curricula, course design, non-profit consulting
Introduce Non-GAAP Metrics to Business Students
Mark I. Morgan, Mississippi College, MS, USA
V. Brooks Poole, Mississippi College, MS, USA
Huan Qiu, Louisiana Tech University, LA, USA
Christa A. Owen, Mississippi College, MS, USA
The use of measures that are not considered generally accepted by the accounting profession has become widespread and is increasing. This paper informs business educators and instructors about these metrics so they can introduce it to their students and expand their students’ understanding of how it relates to the accounting profession. Even though the financial community has begun the use of and justification for the publication of financial statements with what are commonly called non-GAAP metrics, many business educators and even accountants old and new to the profession are not informed about these differing forms of non-GAAP nor have an idea of its potential benefit or harm. With this paper, educators and students can learn more about the description of non-GAAP, some of its history and the regulatory response to its use. The paper will also provide some examples of non-GAAP and reflect on how they may effect business reporting.
Keywords: Business Education, Accounting Profession, Financial Reporting, Non-GAAP Metrics
Student Investment Fund: AACSB and Experiential Learning, Using An Alumni Perspective
Ben Carlston, University of the Pacific, California, USA
Dara Szyliowicz, University of the Pacific, California, USA
Wenjing Ouyang, University of the Pacific, California, USA
Chris J. Sablynski, University of the Pacific, California, USA
Student managed investment funds (SMIFs) are part of many AACSB business school programs. This study introduces the innovative structure and operation of the University of the Pacific’s Student Investment Fund (SIF) and discusses how the course is structured to help achieve the AACSB’s goals of engagement, innovation, and impact. Different from past SMIF research, we also survey SIF alumni regarding their perspectives of this experiential learning experience. The survey results confirm that the structure, operation, and other activities in SIF help achieve the AACSB’s goals of engagement, innovation, and impact. Implications and future research directions are explored.
Measuring Student Ethical Behavior at the Micro Level Revisited
Earl J. Weiss, California State University, Northridge, CA, USA
Paul J. Lazarony, California State University, Northridge, CA, USA
Dennis Halcoussis, California State University, Northridge, CA, USA
Ronald S. Stone, California State University, Northridge, CA, USA
In an earlier paper, the authors described how ethical behavior of students was measured using vignettes containing ethical dilemmas. A second three-year follow-up study was conducted that analyzed the responses of 1,060 junior-level pre-accountancy majors, and was expanded to measure student ethical behavior using gender, age, hours worked, and the number of ethics classes taken. This study resulted in the following findings. (1) Female students appear to be more ethical than male students except when an ethical dilemma represents a potential threat or confrontation. (2) Students become more ethical as they get older. (3) Gender and age are not independent of student ethical behavior and are statistically significant. (4) The number of hours worked and ethics classes taken are independent of student ethical behavior and not statistically significant. (5) A longitudinal analysis shows little change between the two studies other than the addition of the demographics.
Keywords: ethics, ethical behavior, demographics, age, gender, hours worked, instruction in ethics, ethical dilemma, vignettes, students, moral compass, universal ethics standard
Analysis of the Changes in Undergraduate Business Student Perceptions of Online Courses
David J. Wright, Professor of Finance, University of Wisconsin-Parkside USA
Kristin Holmberg-Wright, Distinguished Lecturer, University of Wisconsin-Parkside USA
The purpose of this paper is to determine what has changed, and what has not changed, regarding student perceptions of online undergraduate business courses over the last six years. A pair of comparative surveys was administered in both 2012 and 2018, separating those students with online experience from those with only face-to-face instructional experience. Given the growing prevalence of online business courses, the analysis provides evidence of how students’ perceptions and experiences have evolved over time. Furthermore, measures of tuition pricing sensitivities for online college courses relative to face-to-face instruction provide significant evidence of the importance to the online course pricing decision.
Designing and Implementing a Strengths-Based Approach to Student Development
James P. Borden, Villanova University - Villanova, Pennsylvania USA
Research has shown that there is a significant and positive relationship between strengths-based employee development and performance. At colleges, a strength-based approach to development can help students to improve self-awareness, foster development, and find direction. This paper provides a detailed look at one school’s approach to designing and implementing a strengths-based approach to student development using the CliftonStrengths assessment tool. Details on the program are provided to assist other schools with implementing such a program.
Keywords: CliftonStrengths, student development, program design, professional development, skills development
Integrating Data Analytics into the Undergraduate Accounting Curriculum
Jun Zhan, California State University at Northridge, Northridge, California, USA
Young-Won Her, California State University at Northridge, Northridge, California, USA
Tao Hu, California State University at Northridge, Northridge, California, USA
Chan Du, University of Massachusetts at Dartmouth, Dartmouth, Massachusetts, USA
The advent of Big Data and related applications and technologies have largely changed the process and practice of the accounting, and led to essential changes in the construction and teaching contents and practice of the undergraduate accounting curriculums. In response to the changes and practical needs in accounting education, in this paper we propose the rationale and procedures of integrating data analytics into the undergraduate accounting curriculum. Based on the extensive literature review of Big Data and data analytics processes, techniques, and technologies, we discuss key strategies, procedures, contents, and specific pedagogies for the integration of data analytics into the undergraduate accounting classroom. Following the data analytic implementation framework of Dzuranin et al. (2018), we introduce our teaching practice in a large public university in the U.S.A. and exemplify the integrative process and activities of incorporating data analytics topics into the existing accounting curriculums in a large public university in the U.S.A. This paper shall contribute to the teaching practice and pedagogies in integrating data analytics into the undergraduate accounting curriculum.
Keywords: Big Data, Data Analytics, Undergraduate, Accounting Curriculum, Course Development.
Book Review: How Did I Not See This Coming?
Hayden Sheets, Murray State University-Murray, Kentucky, USA
In the book How Did I Not See This Coming,Katy Tynan noted that the practice of poor management is widespread in the workplace. In an innovative approach in assisting new managers on ways to improve their skills in the workplace, the author used a literary novel format to lead the reader to vicariously experience challenges and frustrations in the workplace through the actions of a protagonist, Julie Long. Through unique conversations with several experienced managers in diverse discipline, Julie came to understand some important truths about good management and how to apply them in a workplace setting. The book can serve as an excellent supplement for college business students, allowing them to enrich their understanding of applied management skills.
Keywords: management, team members, truth about management, goals, motivation, trust