Oct 31, 2008

Getting Through It
Posted by John

Hey guys,

I am chugging along, trying to get through this semester and I am realizing that I am very close to being done with college. I have three semesters after this to arrive at my 150 credit hours to sit for the CPA exam. As it gets closer, the lazier and lazier I would like to be, but I must keep reminding myself not to get lazy. Here are my reasons to not get lazy in school, for better or for worse:

  • Parents - My parents would be very upset if I did not perform to my potential. I guess I could hide my grades from then, but then again, they are probably reading this right now so that may be a bad idea... right mom and dad! :)
  • Jobs - I need a job to make money and I need money so I do not have to live with my parents later in life. Therefore, I must do well in school.
  • Soccer - If I do not meet the standards set in order to be a student athlete, I cannot play soccer. I enjoy soccer so this is a good reason to continue to do well in school.

So these are three reasons I continue to work hard and study. Hope everyone out there can stay motivated and finish out the semester.

John

 

Oct 29, 2008

Are there jobs for college grads in a down economy?
Posted by JR

Of course there are.  In fact, as I write this blog, we have just wrapped up a day where three of our interview rooms were full and all of the employers intend to extend offers to Kelley students, which is clearly encouraging news - even if it meant that we kept running out of coffee the day after a late Colts game.  

This is not to say the immediate job forecast isn’t without its stormy patches.   The economic turmoil has hit fields such as investment banking particularly hard (see Credit Suisse announcement) and the threat of a prolonged slowdown has many employers pulling back on new hires across the board – recent college grads included (see For ’09 Grads or PDF).  

If this sounds like it means more work for you as a job seeker, it does.  There are jobs, but gone are the days when a job search consisted of a visit to KelleyCareers and broadcasting your resume on Monster and CareerBuilder (two of the most frustrating online job boards for recent college grads).  The relatively strong job market for recent grads over the past few years has given some students the impression that companies and jobs will always seek them out, instead of the other way around.  Now that we are likely entering an economic slowdown, job seekers need to be more proactive than ever and the knowledge and application of effective job search skills and strategies is essential.

And that’s the ultimate silver lining: If you are looking for a job in a bad economy, you have to learn how to tap into the hidden job market, identify new / interesting / growing companies, explore alternative career fields, and learn to sell yourself.  Once you develop an effective job search repertoire, you’ll have a set of skills you can rely on for the rest of your career.  If you do it now, you are set for life.

Now that I’m back to blogging on a regular basis, I’ll be sure to share some tips and tricks, but please do yourself a favor and visit the Career Placement Office if you have any questions or concerns.  Don’t panic and don’t let the barrage of negative news stop you from going after the job or career you want.  What works for one student won’t necessarily work for another and we can help you set up a plan that caters to your strengths and your interests. 

In the meantime, I encourage you to listen to this Wall Street Journal podcast featuring an interview with Trudy Steinfeld, Director of Career Services for NYU.  She gives a candid assessment of the job market and passes on some timely advice.

I wonder how I can get on the Wall Street Journal’s speed dial?

 

Oct 26, 2008

The Red Line Diaries....
Posted by Jennifer

10/24/2008 Friday

Dear Journal,

It was very cold today. It rained ALL day. It's a sad show outside my window when I have to look at Gloom and Gray all day long. Ya know, the sun just makes ya happy. I don't know why, but when it's not around, even if it's not raining, you just feel ... well, gloomy.

So, I worked a very long day. It wasn't busy, but busy enough. I felt bad for the FFA (Future Farmers of America)visitors walking around downtown. When I left for lunch (with my big umbrella in hand), I witnessed many FFA's with their blue jackets wandering around downtown without umbrellas. Sure, some had baseball hats on, but many had nothing.

I left work. My feet hurt and it was Friday Night! Well, I couldn't WAIT to get home. I noticed it was getting colder. I didn't need my umbrella any longer. I sat down at the bus stop waiting for my One-Way Ticket outta here: The Red Line! Eventually it showed up. I got on the bus (which is usually not crowded) to find about a trillion people on it. I desperately found a seat and sat down.

Each bus stop, more and more people got on. The bus could have exploded with people (okay, I'm being dramatic..... but hey, it's my recap). Eventually, it was standing room only! By the way, I'd love to thank the guy who sat next to me who constantly leaned into me on every turn (sorry, I'm married, sir). AND he wore tooooooooo much cologne (another lesson of the day).

I eventually got off the bus and walked to my car.

Until we meet again, Red Line, Ciao!

 

Oct 24, 2008

You can get on top of the bottom line - even in today's economy
Posted by Deb N.

NOW can be a good time to start or grow a business. That’s according to a panel of banking, finance and business experts who talked about finding funding for business at the Main Street Institute today, sponsored by the Kelley School of Business Women’s MBA Alumni Advisory Board and the Indianapolis Chamber. I had the honor of moderating the event, and it was a really great discussion with the panel and then in small groups. Here are some of the highlights for current or prospective entrepreneurs:
 
NOW can be the right time and right opportunity IF you:
· have a business or idea that can thrive in today’s economy;
· know your market;
· have an effective business plan;
· have some of your own money to invest and have a good credit score;
· have the passion; and
· are a risk-taker.
Turns out these are the same things panelists said were needed in good economic times!
 
Finding Funds for Your Business
· A fully developed business plan is a must when seeking capital from a bank. If you don’t have one and need help, the Indiana Small Business Development Center is a great resource with free services (we’re already paying for them with our tax dollars).
· Form a relationship with a banker before you need the money for a business. Ask someone where you do your personal banking if you need a referral – or ask fellow entrepreneurs.
· Family and friends can be sources of funding, but may come with a higher price than the bank.
· At least at M&I, they are looking to make loans to small businesses, but no one wins if the business owner can’t pay back the loan. A loan of less than $50,000 can be secured based on your credit score alone. If you try for a loan and don’t get it, ask why.
· Victoria Hall, regional director of the SBDC, dispelled the myth that there are lots of grants out there for small businesses. There aren’t many except for some targeted areas like biotech, life sciences and innovative new technologies.
 
Have You Got What it Takes?
In addition to the idea, business plan and drive, consider:
· Formal education in business or an MBA provides a really great background in all the fundamental areas of business, some which may not be your expertise.
· Experience in the field in which you want to start a business is helpful. If you want to open a coffee shop, but have never worked in retail or hospitality, get a job in a restaurant and learn about the customer-serving side as well as the back operations.
· Sales and marketing experience – to be successful, you always need a pipeline of prospects. If you can’t or don’t want to work the market, then partner with someone who does.
· Be prepared for the unexpected – you never know when you’ll find yourself stranded on the roof painting!
 
Lessons Learned
In addition to all the other advice, the two entrepreneurs offered some thoughts on things they wish they had known sooner. Gayle Ross, president of C.A. Ross Company, a 13-year-old customer manufacturer of architectural woodwork and furniture, says they had a really good plan, but you don't know your true cost of sales until you know how much have into your product. Her advice: cut your revenue projection in half and double your expenses. Liz Hoover, who realized her long-time dream of having her own business about 7 years ago, looks back and thinks that she could have started her business sooner than she did. The owner of Hoover Financial Services, Liz warns of the rising cost of health care benefits, and stresses their importance to attracting and retaining great employees. 
How are you finding the economic environment for growing your business? Let us know.
 

Oct 22, 2008

Need A Bilingual Accountant?
Posted by Kayoko

It's been almost 3 months since I started working for a regional public accounting firm as a part-time employee.  I work part-time as a Japanese translator to assist with communication between the prospective Japanese clients and the partners in this firm.  Whenever they need me as a translator, I get a call, and either I go work with them or work from home.    

 

Last month, I had a chance to visit a prospective client located in Eastern Indiana with two partners.  The company we visited was a Japanese-owned subsidiary of a manufacturing company.  So I thought I would be doing interpretation.  It turned out that there were no Japanese personnel at the meeting, and we all spoke in English.  Although I didn't do much this time (other than introducing myself, and sitting next to the lead partner), it was nice to observe the business.  On another occasion, I attended a seminar held by the Japan-America Society of Indiana in August.  The seminar was about the Japanese craftsmanship in the Japanese automotive industry, and focus of the event was learning the typical Japanese business style and networking with many mid-to-small size Japanese-owned companies in the Midwest.  It was nice.  I could see some of my ex-coworkers, friends, and acquaintances there, which was a bonus.   

 

It was somewhat a surprise to me, knowing local public accounting firms (like the firm I work) have connections to Japanese businesses in the Midwest.  I thought most (or all) of such businesses are in the Big 4's field.  I've never imagined a need of bilingual staff at a local public accounting firm until recently.  Maybe because of some unknown reason, or maybe because of an increasing pressure from Big 4s to the mid-to-small size companies for the quality standard strain (like we've learned in A514), some type of "distribution of business" within the public accounting field may be happening.  It looks like for the regional public accounting firms, this particular business segment is a growing potential.  I will report more, when I do more work. 

 

 

Oct 21, 2008

Congratulations to our Kelley Accounting Students
Posted by Professor Carow

Our team took second place in a statewide competition hosted by the Indiana CPA Soceity. 

On Friday October 17, 2008, four students competed in a case competition.  All Indiana Colleges and Universities were invited to participate.  Teams of four students from each college are given a case to answer.  A panel of Indiana CPAs reviews and judges the written case solutions.  The top six teams are chosen to make an oral presentation. 

The 2008 case discussed a hypothetical large local Indiana CPA firm.  The teams were asked to present strategic recommendations to the firm partners about challenges and opportunities for the firm.  Some challenges/opportunities related to the firm structure, particularly to diversity and work/life balance issues.  Other challenges/opportunities related to changes in client services, particularly related to emerging continuous assurance services and to consideration of alternative billing structures.

Congratulations to our team members:
•         Chad W. Beauchamp III
•         Molly Utterback
•         Melissa Utterback
•         Shu Ting Zhao

The University of Southern Indiana finished first, and the Purdue Calumet team placed third. 

For more information on the Case competition, see the following link.
http://incpas.org/Students/Events/CaseStudyCompetition.aspx

 

Oct 20, 2008

The Red Line Diaries...
Posted by Jennifer

10/20/2008

Dear Journal,

Since starting my new job downtown, I now take the Red Line Shuttle Service thru IndyGo. You know? The FREE downtown circular that goes thru IUPUI and Downtown Indy! Well.... where do I start?

A couple of days into my sojourn, I stumbled upon a peculiar package. I was leaving work one day, boarded the Red Line, and immediately took a seat before I was thrown about. I sat down almost sitting on a brown bag. I sat next to it. As we traveled around Downtown, I wondered what could have been in that mysterious little brown bad. Perhaps someone had hit the liquor store a little early? Could it be a valuable treasure that was missing? Could it be....? Oh, what could be in the bag? I mustn't look. Or should I? Is it my duty to look in the bag? Perhaps it was someone's medicine, just sitting there forgotten? Oh, what should I do? What could I do?

"Oh, I wouldn't sit there. I don't know what's in the bag. It was there when I got on," I told a girl feverishly looking for a seat on the bus.

"Oh... O... Kay?" She said very confused. She sat as far from me as she could get on that little bus.

Finally, I couldn't take it any longer. I leaned over the bag cautiously. Perhaps there was a rabid squirrel? Perhaps not.

As I looked in the little brown bag, I felt relieved and disappointed at the same time.

I pulled the cord to signal to the driver that the next stop was mine. I stood up, grabbed my purse and continued towards the doors.

"Ma'am?! Ma'am?!!! You forgot your bag!" a stranger yelled. I turned to look at her.

"Oh, that? That's not mine. It was there when I got here," I said back to her. The whole time everyone thought that little brown bag was mine. Oh, but I know it did not belong to me. It was someone elses.

What was in the bag you ask? Leftover Chinese food.

Until we meet again, Ciao!

 

Oct 15, 2008

Get on Top of the Bottom Line – finding funds for your business
Posted by Deb N.

Wondering how to sustain and grow your business in these increasingly tough economic times? Wondering if now is the time to take the plunge?

Then, don’t miss the Main Street Institute on Fri., Oct. 24, sponsored by the Kelley Women's MBA Alumni Advisory Board, it's the perfect opportunity to meet fellow women entrepreneurs and get tips and tools for starting or growing your business. Hear from and participate in a lively panel discussion with:

Connie Shepard, senior vp, M& I Bank
Liz Hoover, owner Hoover Financial Advisors and executive board member of the National Assn. of Women Business Owners (NAWBO)
Victoria Hall, regional director of the Indiana Small Business Development Center
Gayle Ross, Kelley alumnus and executive vp, C.A. Ross manufacturing company
 
After the panel will be roundtable discussions where you can talk with the panelists and other experts.
 
I'd love to see you there. Register online at www.events.indychamber.com
 
October 24, 2008
Breakfast / Registration 9 a.m.
Panel and Roundtables 9:30 a.m. to Noon
Where: IUPUI Campus Center Room 450 A & B
420 University Blvd.
Indianapolis 46202
Convenient parking in Vermont Street garage
$30 Public / $10 IUPUI Student
 
Main Street is a partnership of the Greater Indianapolis Chamber of Commerce and Kelley School of Business
 
 
 

Oct 07, 2008

Test Time
Posted by John

Hey guys,

Same old story for me, school and soccer. School is hitting tough times though, kind of like our economy (I am watching the debates right now so I felt like the joke is applicable), because of Tests. I had two tests last week and two tests this week. A couple of them went very well and the others did not go so well.

Other than tests, i have been getting into the elections. I feel like this is my generations first real chance to influence the vote. I think it is great to hear players on my team talk about which candidate they like and see students reading the paper getting the scoop on the future of our country. It is fun. The debates are pretty rough. These guys really go for the jugular. I do not think I could take the criticism without getting extremely worked up and wanting to throw down the microphones and step into a ring... I guess that is what will keep me from becomming the president.

Anyway, that is what I have been up to. Hope everyone is well and avoiding colds and flu's!

 

 

Oct 05, 2008

EU vs US
Posted by Jaime

Hi Kelleygues,
 
So I have been back in England for almost two weeks now; I was in Spain before and I really loved it. I am falling in love with the European cities and countries I have visited, however life is not as it is in the US (as one can expect). In the US, business is more straightforward and things happen faster; efficiency and productivity are considerable more visible in the US and it is hard to work in an environment that is not as responsive to market changes (EU). Nonetheless, it has been a great learning experience and I look forward to the challenges and learning that is to come.
 
I have started to look at my next educational challenge. Most likely I will go back to school next year to get my MBA. Because my line of work is so commercial oriented (legal with a mix of marketing, sales and finance) I am considering an MBA that will allow me to learn more about multiple business functions. Today more than ever, it is important for businesses to have people that are flexible enough and with the appropriate knowledge to move from one business function to the next.
 
So how is Indianapolis? I really miss Indy, it is one of those great cities that are rare to find. I really miss it and I hope to be back there soon.
 
All the best,
 
Jaime
 

Oct 01, 2008

Greetings from next door!
Posted by Jessica

Since this is my first blog post, I thought I'd introduce myself.  My name is Jessica, and I’ve been University Library’s Business Librarian for just over 2 months.  My job entails evaluating, purchasing, and maintaining our collection of business resources (books, journals, databases, etc.), and making sure that all of you know what’s available and how to find/use it.  

I have a bachelor’s degree in Business and Administration from Southern Illinois University at Carbondale and a MLS (Master of Library Science) degree from the University of Illinois at Urbana-Champaign.  My work experience includes a couple of years at a museum here in Indy, and 4 years working with teens at a Tennessee public library.  I'm thrilled to be at IUPUI working with Kelley students, faculty, and staff!

On a personal note, I’m happily married and the proud (though sometimes exhausted) mother of a toddler. One of my favorite things to do these days is just hang out at home.  Having a child has given me the opportunity to see everything through a fresh pair of eyes, so even the most mundane things are suddenly fun and entertaining.
 
I love my job, and my goal is to connect you with the resources you need as you work toward landing the job of your dreams.  My contact information is listed on the Business Research Guide.  Please stop by and say hello next time you're in the library.  I’m looking forward to working with all of you!