Are Business School Deans and Employers Focused on the Same Graduate Skills?

Businesses want college graduates to be ready to fulfill important functions upon hire. When graduates are not ready this can raise the cost of training and slow down production. Criticism of higher education revolves around the difficulties some schools are having preparing students to take on challenges in the modern business world. A study of perceptions of deans and prospective employers helps show where college administration and business leaders see eye-to-eye and where they diverge.  

Throughout the nation a debate rages about the value of higher education, its costs, and employ-ability of students. We also know that higher education is important to grow innovation and feed the needs of employers so they can fill open positions. There is a natural split between higher education as a vessel of cultural tradition and higher education as training grounds for employment.

That debate isn’t likely to be decided anytime soon. The study helps show that business school deans and employers are not that far off when assessing the importance of certain required skills. Businesses, of course, also had a few ideas but for the most part the two seem to be in the same hemisphere. 

Top Seven Skills by Prospective Employers (In order of importance): responsibility and accountability, interpersonal skills, oral communication, teamwork, ethical values, decision-making and analytical skills, and creativity and critical thinking.

Top Seven Skills by Business School Deans (In order of importance): critical skills/abilities to the organization are oral communication, written communication, interpersonal skills, decision-making, responsibility and accountability, ability to work in teams, and creativity and critical thinking skills.

As you can tell oral communication, responsibility and accountability, interpersonal skills, decision-making, creativity and critical thinking skills were common to both deans and prospective employers. Where they differed was ethical values, analytical skills and critical skills/abilities.

The differences seem to be based in the soft and hard skills. Hard skills are akin to specific job functions that you may find on a job description while soft skills are related more to personality and the ability to work with others. Understanding how to make a chart is an easily measurable skill while having the social abilities to influence stakeholders to accept the meaning of that chart is a little more difficult. Employers lean a little heavier on soft skills while deans focus more on hard skills.

This isn’t particularly odd considering that hard skills are easier to implement into curriculum and easier to assess for successful achievement. For example, someone can either explain compound interest or they can’t. It is more difficult to assess soft skills such as politeness or ethical behavior because these are more situational. Employers will still need to interview and assess needed soft skills themselves. Sometimes they are going to get a great employee and sometimes they won’t. It will be difficult for education to fix this problem but could consider methods of encouraging these behaviors in students. 

Shuayto, N. (2013). Management skills desired by business school deans and employers: an empirical investigation. Business Education & Accreditation, 5 (2).

Feds Announce the End to the Era of Quantitative Easing

The Federal Reserve announced a discontinuing of the controversial bond buying program at the end of October this year. They will keep the short-term rates around 0 for the near future.  To this point, the risk to inflation is relatively low and the economy has shown mixed signals of strength in the last year or so. The Federal Reserve seeks to support the  3% projected national growth rate while not undercutting gains in the employment market. 

Lower Unemployment and Skepticism: 

Unemployment dropped to 5.9% but wages have not risen to provide an income boost. Most Americans are still skeptical of the economy and feel that improvements will occur sometime next year. They are not sure when next year but “sometime” seems to be the target spot. It is skepticism that is a result of not seeing high paying jobs and wage increases.

Bond Purchases: 

The bond purchases were controversial from the beginning but were seen as one avenue of encouraging development out of the world’s longest recession. Since 2008, the Fed’s investment holdings are around $4.5 trillion making them unprecedented in history. As the amount rises, so does the cost of debt, at a time where budgets are anything but balanced. 

The whole purpose of quantitative easing was to reduce interest rates to spur borrowing and improve economic activity (Newman, 2013). Theoretically, as interest rates decline businesses find it cheaper to expand operations and build more factories and businesses. It ignores the high rates of cash many of these businesses are sitting upon. 

As debt increases so does its overall costs. It becomes counter-intuitive to hold so much debt without reasonable assurance when and how it will be paid back. Long-term liabilities in business and government can be risky if the situation changes, another recession occurs, or the costs of servicing that debt rise unexpectedly. The Fed has ended an era of Keynesian induced development. 

Low Interest Rates: 

Keeping the interest rates low at a time when inflation risks are low is beneficial. Low interest rates can be a spark for development and investment (Dunlap, 2013). That development can be in the form of business growth, housing, or spending. As money stays cheap people will naturally spend more because it is easier for them to borrow than to save. 

Economic Optimism:

One factor that is not discussed in all the high finance terminology is optimism. American businesses must feel as though their future prospects will be lucrative. Investors want to feel that by borrowing and spending today they will reap significant rewards tomorrow.  Their analysis and decision-making leads to the conclusion that the economy will continue to get better and expand leaving them ample room for profit. If they perceive the economy will not get much better it makes more sense to purchase less risky investments or hold their money in the bank until brighter days are again apparent. 

Newman, R. (2013). A boost from the Fed. U.S. News Digital Weekly, 5 (10). 

Dunlap, N. (2013). Interest rates, the economy, and the market marionette. Journal of Property Management, 78 (6).

Wine Review: Lindeman’s Bin 45 Cabernet Sauvignon

Wine is served on dinner tables across the country with a tradition that predates the founding of the country. Early settlers brought wine vines with them on their travels.  Wine lovers regularly seek to find new varieties of foreign and domestic productions to experiment with. Lindeman’s Bin 45 Cabernet Sauvignon 2013 offers an exciting option at a price only your local market can provide.  A true table wine ready to serve for most dinner functions.

Lindeman’s Bin 45 2013 Cabernet Sauvignon is a bright red wine with high viscosity and long legs. In the glass Bin 45 contains current flavors, dark berry, vanilla, spices and oak. A smooth start and higher tannin finish with a reasonable level of acidity. A well balanced wine that retails for under $10. It pairs well with most meat dishes making it versatile for most home uses. 

The growing region of southern Australia has warmer interiors and cooler exteriors. The type of soil in the region has an impact on the taste and texture of the wine. For example, organic soils produce looser clumps, heavier berries, and high performance grapes (Cheng, et. al. 2014). In this case they produced a solid product ready for market production. 

It is hard to find wines that have a solid taste but still not budget busting your hard earned dollars.  Among the variety of wines that I have tasted and reviewed I find the Cabernet Sauvignons to be some of the best wine categories. They generally work well with oak barrels that lessen the tannin levels and raise the vanilla flavor. Bin 45 fulfilled my expectations and is on the “buy again” list. 

Cheng, et. al. (2014). Effects of climatic conditions and soil properties on Cabernet Sauvignon berry growth and anthocyanin profiles. Molecules, 19 (9).  

Call for Papers: Second 21st Century Academic Forum Conference at Harvard

Submission Page: http://www.21caf.org/2015-hrd-conference-cfp.html

Website: http://www.21caf.org/

Date: March 8-10, 2015

The theme of the Second 21st Century Academic Forum Conference at Harvard is Teaching, Learning, and Research in the "Just Google It" Age. We encourage submissions that approach this theme from a variety of perspectives under three major topic tracks: (1) teaching and learning in the 21st century and (2) creativity, innovation, and entrepreneurship and (3) academic research for the 21st century. Please visit our website for detailed topic track lists.

Objective: The primary aim of the conference is to bring together an international group of researchers and practitioners to encourage and support the development of a new framework for better understanding the dynamic and interconnected nature of education, research, business, and life in the age of ubiquitous statement "just Google It."

Ways of Participating:

- Oral Presentation: 25 minutes
- Poster Presentation: 3 hours (held on March 9th from the a.m. coffee break through lunch)
- Absentee Presentation: For those who are unable to join us at Harvard, we offer you the opportunity to participate as an Absentee Presenter. Absentee Presenters can: upload their narrated PPT to our website, have their abstract printed in the Conference Program Book, and have their paper published in the Conference Proceedings
- Non-Presenter (Listener): For those interested in attending to participate in the various presentation sessions.

Paper Publication Opportunities:

All papers that meet the 21st Century Academic Forum's Conference Proceedings requirements will be published in our online Conference Proceedings (ISSN: 2330-1236). Papers must be submitted for inclusion in the Conference Proceedings by June 8, 2015. We purposely set the deadline for papers three months following the conference with the rationale that authors should use the feedback they receive at the conference in crafting their final drafts of their paper.

The Conference Proceedings will be published on September 7, 2015. The Conference Proceedings editorial board in turn works with the editors of our three peer-reviewed journals to select papers for possible publication in one of our three online peer-reviewed journals listed below.

- The International Journal of 21st Century Education (ISSN: 2330-1244)
- The International Journal of Innovation and Entrepreneurship (ISSN: 2333-9659)
- Journal of Language Learning and Teaching for the 21st Century (ISSN: 2333-9640)

Abstract Submission:

Submission of your abstract proposal(s) should be made in English through our Online Submission System until the final deadline of February 14, 2015. The Conference Committee reviews abstract proposals on a rolling basis and authors will typically receive a decision within two weeks of your submission.

Three Wonderful Benefits of Almonds

The benefits of almonds are significant as they are considered one of nature’s wonder foods that improve general health. Their benefits lay in being a high source of protein, removal of free radicals, and improving heart health. Those who avoided high fatty foods can now eat a handful almonds five times a week while still encouraging weight loss and greater fitness. 

People who like to stay in shape and are active have heard throughout the years that only low-fat foods are helpful in this process. We found that low-fat foods across the board can actually be damaging to the body. The goal is to reduce saturated fats while eating an appropriate amount of un-saturated fats for body development. 

Almonds and almond milk are great methods of obtaining their benefits. I went to the farmers market in Little Italy and found a local vendor selling natural almonds flavored in different types of seasonings. I opted for the coco-cinnamon blend out of the 10 or so different choices. Over the years I have become more disciplined and can try a few without overdoing it. Remember that Almonds have a lot of fat in them so you will still want to limit yourself. 

The benefits:

Protein: A single handful of almonds (approximately 1 oz) provide a quarter of our daily protein (Ying, et. al., 2011). Protein leads to healthy muscles and bone strength.  Those who spend some time in the gym can appreciate the benefits of obtaining protein from a natural source versus protein shakes. 

Anti-oxidants: Free radicals can slow down work out recovery, cause cancer, and other diseases. The vitamin (E and B) help to not only improve upon cognitive functioning but also the rebuilding of the body. 

Cardio Vascular Disease: Almonds contain vitamins, hytosterols, fiber, minerals and antioxidants that fight against heart disease (Brufau, et. al., 2006).  It increases HDL and lowers LDL which protects the heart and vessels from damage.  

Brufau, G. Boatella, J. & Rafecas, M. (2006). Nuts: a source of energy and macronutrients. BR Journal of Nutrition, 2. 

Ying, B., et. al. (2013). Association of consumption with total and cause-specific mortality. New England Journal of Medicine, 369.