Spring 2014 News
CSULB’s College of Business Administration Teams Win Trophies in the 50th Annual International Collegiate Business Strategy Competition
Three teams of undergraduate and MBA students brought home four trophies after they competed in the 50th Annual International Collegiate Business Strategy Competition. The competition involved a remote phase of 10 weeks and then a second, on-site phase which was held in Anaheim, California on April 24-26. A total of 33 teams from 22 universities from the U.S., Canada, China, and England were divided into seven groups of five teams (called “worlds”) as they vied for top honors in two categories: Best Written Reports and Best Overall Performance.
Beach Breeze, an undergraduate team won a first place trophy for Best Overall Performance and an additional one for Best Written Reports. The second undergraduate team, Beach Drive, Inc. won a trophy for Runner-up for Best Written Reports and Playa Dental, the MBA team, won a trophy for 2nd Runner-up for Best Overall Performance. The teams’ faculty advisor was Dr. Annette Lohman.
The students participated in a simulation in which they ran a virtual company in direct competition with other teams in their world over a period of five simulated years. During that time they reviewed recent and historical financial and operating reports to make marketing, operating and financial decisions for both domestic and foreign operations. The students ran simulated companies that produced kites, USB drives, and electronic toothbrushes.
During the remote phase, students submitted a Strategic Business Plan and made company decisions for three simulated years (12 fiscal quarters). Upon arriving in Anaheim for the intensive on-site phase, the teams submitted an annual report of their most recent year of operations to the judges. Over the next two days, they completed two more years (8 quarters) of decisions and met with the judges twice with the final meeting being a formal presentation. The judges played the role of being the simulated companies’ board of directors and queried them about their company decisions and results.
At the end of the event, several students remarked about how valuable the competition was for them. “The ICBSC placed me in a situation in which I saw how different divisions of a business fit together and how each has an effect on the others. Most importantly, my participation in the ICBSC gave me in-depth experience with teamwork. I learned more about teamwork and how to recognize good team members than I have gotten from any other project or team sport (Jared Fisher, MBA student);” “It has shaped me to think and write more like a professional businessman (Jimmy Bourland, U-grad student);” and “If you surround yourself with a good team, the possibilities are endless (Jake Cuevas, U-grad student)” were just some of the comments made.
This year for the fourth year, the College of Business Administration has been the host University of the ICBSC which is the longest running, most comprehensive business competition open to business students. Dr. Annette Lohman, in addition to being faculty advisor to the teams, serves as the Administrative Director for the competition.
CBA's Volunteer Income Tax Assistance (VITA) program had a very successful tax season. Sixty accounting students underwent training and became certified in January. Students had the opportunity to interact with representatives from the Board of Equalization and Internal Revenue Service. This free program primarily serves low to moderate income individuals and families, as well as the elderly, non-residents, and students with income under $51,000. What sets CSULB's program apart is that it is one of only two CSU campuses certified in non-resident tax returns. From February to March 28, student volunteers prepared over 930 tax returns, and refunded more than $590,000 back to Long Beach community members! Under faculty advisor Sudha Krishnan, the program also secured $3920 IRA funding for next year spring 2015. Many thanks go Accountancy student Jennifer Mae Formeloza, who was VITA Coordinator for Spring 2014 and Accountancy Professor Sudha Krishnan, who was VITA faculty advisor. They were key to the success of this program.
Marketing Professor Terry Witkowski received an Emerald Literati Network Award for Excellence as an Outstanding Author Contribution for his chapter, "The Visual Politics of U.S. Gun Culture," published in the 2013 edition of Research in Consumer Behavior: Consumer Culture Theory. The research applies key visual theory concepts to investigate a selection of political representation made by gun rights advocates. It fosters understanding of core U.S. gun culture and how it promotes its political ideology through visual means. Selected for the award by editors Russell W. Belk, Linda Price, and Lisa Penaloza, this was the only chapter so honored.
The Department of Marketing has been recognized by the Office of Academic Affairs for both “High Achievement in Student Success” and “Improvement in Student Success” (April 2014). The Department is one of 12 departments across campus recognized for its (1) high graduation rates and (2) large retention rates for native and transfer students. These student success outcomes were made possible in part because of how the department schedules courses to help student graduation. In addition, the Department’s graduation rate is higher than that of the University, the College, or other CBA departments. By winning both awards, the Department will receive $20,000.
Accountancy Professor John Lacey has been reelected to the American Institute of Certified Public Accountants (AICPA) Governing Council. Professor Lacey is also newly elected to the California Society of CPAs (CalCPA) Governing Council. While having attended the CalCPA Council meetings as a non-voting observer because he was one of the elected representatives that represents California on the AICPA Council, Professor Lacey was separately elected to be a voting member of CalCPA Council. Both positions are for three year terms. These are the bodies that set policy for our professional organizations. Founded in 1887, AICPA is the national professional organization of CPAs, and CalCPA was founded in 1909. Few academics involved in professional governance in Accounting and we are proud that Professor Lacey has been selected to represent the academic community on these councils.