UCF Business News

EDC To Host MBA Executives From Spain

Mon, 9 Nov 2009 15:35:03 EDT

About two dozen MBA executives from Madrid University are getting an in-depth look at one of the world’s most popular tourist destinations as part of the Executive Development Center's (EDC) International Residency Program.

Participants are enrolled in Madrid University's Executive MBA program. It will be the second time that the EDC has hosted the Escuela de Organización International (EOI). The EOI was founded by the Ministry of Industry and the Ministry of Education to provide engineers with management and organizations skills.

While in town, the students are learning about Central Florida’s history and development, the challenges and economic impact of area tourism and the global economy’s effects on Orlando.

“The goal of the program is to use Orlando as a vehicle for students to practice the concepts that they’ve learned in their own academic studies,” said Tiffany Hughes, an associate director at UCF’s Executive Development Center.

“The activities and presentations are intended to provide students the perspective of doing business in and with Central Florida,” she said. “We expect the students will be able to use what they learn and experience here in their personal and professional careers.”

The itinerary includes a behind-the-scenes tour at SeaWorld, The Florida Mall, a U.S. Army simulation and training technology center and Indra Systems Inc. There also are presentations from UCF College of Business Administration faculty members, the Orlando/Orange County Convention & Visitors Bureau Inc., the Metro Orlando Economic Development Commission, the Florida High Tech Corridor and the UCF Business Incubation Program.

UCF Tax Team Places Third in National Competition

Mon, 2 Nov 2009 13:57:16 EDT

The UCF Tax Team won third place in the graduate division of the 8th Annual Deloitte Tax Case Study Competition. Team members included Wendy Flynn, Justin Knox, Lauren Pryor and Rachel Weisman. Each student received $500, and the Kenneth G. Dixon School of Accounting received $2,500.

As part of the competition, teams are given five hours to complete a case study that requires participants to analyze information, identify issues and alternative tax treatments, and develop a recommended solution that appropriately cites the Internal Revenue Code and Treasury Regulations. Based on the information, each team must prepare a written solution to their case and submit it to a panel of judges from Deloitte Tax LLP for evaluation.

The UCF Tax Team consistently places in the upper tier each year, often out-performing top-ranking business schools from across the country. Accounting professors Donna Bobek and Charlie Kelliher serve as team advisors for the competition.

IEC Forecast: Recession Over, But Florida Struggling With Unemployment

Thu, 29 Oct 2009 10:42:04 EDT

Sean Snaith, director of the Institute for Economic Competitiveness in the CBA, uses a Halloween theme throughout his newly released Florida forecast (or gore-cast as he refers to it). He claims that although the recession is over, job losses will haunt Florida for another four years. Snaith predicts the state's unemployment rate will peak at more than 11 percent next year as other sectors of Florida’s economy will also struggle for longer than their counterparts in the rest of the country. Employment levels won’t return to pre-recession conditions until 2014, he says. You can read more about his predictions regarding the shape of the economy by reading his latest national forecast.

SBI® Accepting Applications from Local Small Businesses

Tue, 27 Oct 2009 10:03:49 EDT

The Small Business Development Center (SBDC) at UCF, in conjunction with UCF's College of Business Administration, is accepting small business clients for the Spring 2010 Small Business Institute® (SBI) program.

SBI®, a nation-wide program, provides high-quality business assistance to companies in need while providing an extraordinary opportunity for university students to learn through field case studies. SBI® is a graduate-level elective course within the UCF College of Business Administration. Students enrolled in the class provide management consulting services to local small businesses. Each student team will have direct contact with the client and will produce a professional case report. The report is the ultimate product of the program and will be tailored to each business. Case study reports may include market research, marketing plans, competitive analysis, advertising strategy, customer surveys, strategic plans, financial analysis, human resource manuals and business plans.

Interested businesses may call (407) 420-4850 for further information regarding program qualifications and the application process. A $200 non-refundable administrative fee is due upon acceptance to the program.

You can learn more about the SBDC and their services by visiting their Web site.

UCF Career Development Conference Winners Announced

Tue, 20 Oct 2009 16:34:21 EDT

The UCF Chapter of College DECA recently hosted its Inaugural Career Development Conference in the UCF Student Union. More than 50 students competed against each other in business simulations, case studies and prepared business presentations. Qualified students were invited to compete in the Florida Association of College DECA State CDC March 4-7, 2010 at the Radisson Resort Orlando-Celebration in Kissimmee, FL.

Winners included:

Hall of Fame Award
- Marcia Kieler, '05, Recruiter & Promoter Specialist, Pasco-Hernando Community College
Lifetime Membership Award
- Professor Jack J. Rose, Executive Director, Florida Association of College DECA
Outstanding Student of the Year Award
- Jessica Sofranec
Advertising Campaign
- First Place - Brittany Keating/Joseph Stagliano
- Second Place - Anne Webster
- Third Place - Robert Alexander
Business Law
- First Place - Nicholas Gurney/Alan Hardman
Business-to-Business Marketing
- First Place - Nicholas Candaffio/Matthew Higgins
- Second Place – Ace Glenn/Chris Young
- Third Place – Marlee Popluder/Arianthi Then
- Finalist – Daniela Maldonado/Nichole Soros
Financial Services
- First Place - Jessica Sofranec
- Second Place - Timothy Tasson
Hospitality
- First Place – Melissa Blette
- Second Place – Marco Fanelli
- Third Place – Kevin Lavelle
- Finalist – Arianthi Then
Marketing Management
- First Place – Alan Hardman
- Second Place – Erika Jones
- Third Place – Nicholas Gurney
- Finalist – Melissa Blette
- Finalist – Marco Fanelli
- Finalist – Daniel Cone
- Finalist – Tiffany Choez
Restaurant & Food Service Management
- First Place – Matthew Higgins
- Second Place – Brittany Keating
- Third Place – Charlie Bateh
- Finalist – Joseph Stagliano
- Finalist – Daniel Cone
Retail Management
- First Place – Erika Jones
- Second Place – Richard Metro
- Third Place – Samantha Friefeld
- Finalist – Lisa Currier
- Finalist – Robert Alexander
Sales Representative
- First Place – Ace Glenn
- Second Place – Mathew Torgow
- Third Place – Nichole Soros
- Finalist – Ashley Suchoval
- Finalist – Charlie Bateh
- Finalist – Emily Vurnakes
- Finalist – Lisa Currier
- Finalist – Samantha Friefeld
Sports & Entertainment Marketing
- First Place – Ashley Suchoval/Emily Vurnakes
- Second Place – Richard Metro/Kwame Walker
- Third Place – Daniela Maldonado/Chris Young
- Finalist – Tiffany Choez/Timothy Tassone

For more information on the UCF chapter of DECA, contact Dennis Ferraro at dferraro@bus.ucf.edu or (407) 823-2328.

TIDES Releases 2009 Racial and Gender Report Card for Soccer

Tue, 20 Oct 2009 14:27:29 EDT

The Institute for Diversity and Ethics in Sport (TIDES), part of the DeVos Sport Business Management Graduate Program, has released a report examining the racial hiring practices in Major League Soccer(MLS).

Based on statistics from the 2008 season, the MLS earned a third consecutive solid A for racial hiring after getting A's in the categories of MLS League Office, players, head coaches, team president/CEO and team professional administration. This was, again, the second best grade in men's professional sport following the NBA for racial hiring.

For gender hiring practices, the MLS grade increased substantially from a C+ in 2008 to a B in 2009. MLS received an A+ for gender in the MLS League Office in 2009. That offset a D+ in team professional positions and a C- in team senior administration.

Dr. Richard Lapchick, the primary author of the study, is the director of the institute and chair of the DeVos Sport Business Management Graduate Program in the CBA. The study was co-authored by Ashley Turner and William Johnson.

The full report can be viewed on the TIDES Web site.

New Program Lowers Health Care Costs for Small Businesses

Tue, 20 Oct 2009 13:44:16 EDT

An innovative public-private partnership led by the UCF Center for Entrepreneurship and Innovation (CEI), located in the College of Business Administration, will help Floridians secure more affordable health insurance through the small businesses that employ them.

On a small scale, the initiative can accomplish President Barack Obama's push for more affordable and accessible health insurance for small businesses—while still providing that coverage through private insurers.

Eventually, we hope to offer the program statewide and as a national model.

The newly created Florida Small Business Resources Association (FSBRA) will connect area small businesses with discounted insurance and management services through a membership group, which can negotiate improved coverage and lower premiums.

So far, big-name companies Blue Cross Blue Shield, Insurance Office of America (IOA) and FrankCrum have signed on to help the new group—likely the first of its kind in the Southeast.

Because small businesses have so much trouble finding and buying insurance on their own, “this program provides us the scale that will give small businesses a voice with insurance companies,” said Richard Quinn, a CBA management instructor who helped develop the association.

Quinn expects the UCF-based association to help small businesses owners and employees save up to 20 percent on rates. Those savings will benefit the largest segment of Floridians who don't have health insurance.

Of the nearly 4 million Floridians who are uninsured, more than 50 percent are either employees or dependents of employees who work at small businesses. Central Florida, Quinn says, is the small business capital of the state. October is Florida Small Business Month.

“We hope small business will take advantage of this opportunity to join with others and expand their insurance and resource options,” said Thomas L. Keon, dean of the College of Business Administration.

Here's how it works: Businesses with 50 or fewer employees can join the FSBRA, giving them access to a broad portfolio of insurance products or human resources services from Blue Cross Blue Shield, IOA and FrankCrum.

Resources available include health care insurance, commercial insurance, payroll processing, human resources management and other support services. Members can also select benefits “a la carte” depending on individual needs.

Association members also will have access to UCF's facilities and researchers, including education seminars, conferences and coaching programs offered through the UCF Executive Development Center and the Center for Entrepreneurship and Innovation and its partner agencies.

The association will be operated through the CEI, with support from the UCF Executive Development Center. The university simply plays the role of “matchmaker” and makes no money from referrals, Quinn said.

Annual membership fees that average less than $20 per employee will go toward the association's operating costs and services for its members.

“By joining together, our collective purchasing power will help us achieve the same competitive agreements available to much larger companies,” Quinn said. “This will help fuel small businesses in the region and directly benefit an underserved but critically important market.”

To find out more, visit the FSBRA Web site or call (407) 823-2642.

SBDC Helps Entrepreneur Enter Global Market

Tue, 13 Oct 2009 13:00:43 EDT

A local entrepreneur is about to go global, thanks to the Small Business Development Center (SBDC) at UCF.

Gary Gillstedt, a former CPA from Michigan, owns Magic Ink Artisans, a temporary tattoo company that operates kiosks at the Walt Disney World Resort. He originally turned to the SBDC for assistance after the tragedy of September 11, 2001. As tourism in Orlando declined, so did his business.

Eunice Choi, director of the SBDC, counseled him and helped him obtain the Small Business Administration's (SBA) Economic Injury Disaster Loan. Today, his business is so successful he has 11 kiosks located in Animal Kingdom, Blizzard Beach, Disney Hollywood Studios, Downtown Disney and Typhoon Lagoon, and he is ready to seize a new opportunity.

After more than a year of extensive research and development, Gillstedt has invested in “BeadforLife,” an organization that sells beads made from recycled paper by Ugandan women. He was inspired by the eco-friendly and philanthropic message of BeadforLife, and introduced the fun of stringing African beads into jewelry to his current product mix. With this new project and working in conjunction with Disney, his company is poised to enter the global market.

Gillstedt is grateful for all the help the SBDC has provided and serves on the Entrepreneur Advisory Board of the Disney Entrepreneur Center. “I would not have survived without the SBDC help. I would like to repay the community,” he said.

You can read more about the SBDC by visiting their Web site.

MBA Program Ranked Among Top 10 "Best Administered" in Nation

Fri, 9 Oct 2009 15:55:19 EDT

Our MBA program is among the nation's top 10 “best administered” programs, according to a newly released publication by the Princeton Review. UCF is the only business school in the state of Florida to receive this ranking.

The Princeton Review's 2010 edition of the “Best 301 Business Schools” features the top graduate business programs in the nation. While the publication lists 301 business schools, it does not individually rank the schools in a hierarchical order. Instead, the book has 11 lists of the top 10 business schools in various categories. The results were compiled using data provided by business schools as well as a survey of 19,000 students. The top 10 best administered schools' rankings were based on student assessment of how smoothly the school runs and the ease with which students can get into required and popular courses. The top administered schools include:

Harvard University - Harvard Business School
Vanderbilt University – Owen Graduate School of Management
University of Michigan – Ann Arbor Steven M. Ross School of Business
Northwestern University – Kellogg School of Management
Elon University – Martha and Spencer Lover School of Business
University of California Berkeley – Haas School of Business
New York University – Leonard N. Stern School of Business
Dartmouth College – Tuck School of Business
Miami University Ohio – Farmer School of Business
University of Central Florida College of Business Administration

“Our inclusion in this ranking is a testament to the hard work of our administrators, faculty, staff and students. We are proud to be listed among such a prestigious group of business schools,” said Thomas L. Keon, dean of the UCF College of Business Administration.

New Blog Highlights CBA Grads

Thu, 8 Oct 2009 09:04:19 EDT

A new blog has been launched to highlight graduates from the College of Business Administration. “Business Casual” is an online resource that allows visitors to learn more about our graduates in an informal way. The first profile features Brian Wheeler, '95, founder and CEO of Tijuana Flats. You can read more about Brian by visiting the new blog at web.bus.ucf.edu/businesscasual. If you are a graduate of the college and would like to be profiled, contact Don Swift, Assistant Director of Development and Alumni Relations, at dswift@bus.ucf.edu or (407) 823-5781.