Business

You are here


Bernadette Bio

Body: 
  Bernadette M. Ruf Department of Accounting, Economics, and Finance College of Business Delaware State University 1200 N. DuPont Highway Dover, DE 19901-2277 Phone: 302-857-6917 Email: bruf@desu.edu EDUCATION PhD, Accounting, Virginia Polytechnic Institute and State University M.Acct., Virginia Polytechnic Institute and State University BA, SUNY at Plattsburg AREAS OF EXPERTISE • Managerial Accounting • Accounting Information Systems • Corporate Social Responsibility • Accounting Ethics PROFESSIONAL ACTIVITIES Dr. Ruf’s research has been published in Journal of Information Systems; the Journal of Business Finance & Accounting; Research on Professional Responsibility and Ethics in Accounting; Journal of Business Ethics; Journal of Management; and others. Her papers have been presented at national meetings of the American Accounting Association; the Allied Academies; the Decision Sciences Institute, International Association for Business and Society.    

Katz Bio

Body: 
  Michael A. Katz, J.D. Department of Accounting, Economics, and Finance College of Business Delaware State University 1200 N. DuPont Highway Dover, DE 19901-2277 Phone: 302-857-6918 Email: mkatz@desu.edu EDUCATION Juris Doctor, Widener University School of Law BA, Political Science, State University of New York at Buffalo PUBLICATION TOPICS • Employment Law • Contract Law • Social Responsibility PROFESSIONAL ACTIVITIES Professor Katz’s research has been published in the Atlantic Law Journal, the Midwest Law Review, the Delaware Business Journal, and the Atlantic Economic Journal as well as in various conference proceedings.  His papers have been presented at numerous Academy of Legal Studies in Business International Annual Meetings as well as Midwest Academy of Legal Studies in Business and Atlantic Academy of Legal Studies in Business Annual Meetings.        

Bieker Bio

Body: 
    Richard F. Bieker   Dr. Richard F. Bieker is Professor of Economics at Delaware State University. He teaches in the area of Economics. He earned his PhD in Agricultural Economics from the University of Kentucky and is a Certified Financial Planner.  In addition to teaching at Delaware State University he has served as a  faculty member or visiting scholar at a number of other institutions in the U.S, including the University of Delaware, Purdue University,  the University of Michigan and Central Michigan University.   He also served as a visiting   faculty member at Slovenská Poľnohospodárska Univerzita (SPU) v Nitre. Dr. Bieker is the author or co-author of over 75 journal articles, technical monographs and books.  His works have appeared in a variety of  refereed journals including the Social Science Quarterly, American Journal of Agricultural Economics, Growth and Change, Financial Counseling and Planning, Journal of Education for Business, Northeastern Journal of Agricultural and Resource Economics, Southwestern Economic Review,  Journal of Economics and Finance, and others.  His current research focuses on asset allocation in defined contribution pension plans, analysis of factors affecting economic growth in selected Eastern European countries and the impact of  accreditation on the quality and cost of higher education.    

Department of Business Administration Research Centers

Body: 
  Center for the Study of Innovation Management The Center for the Study of Innovation Management (CSIM) housed in the Department of Management, College of Business at Delaware State University is a research unit focused on the study of innovation management in organizations. Innovation management is defined as the activities, processes, routines and systems that foster knowledge creation, transformation, dissemination and sharing as it moves an organization towards change and adaptation in their pursuit of value creation and competitiveness. Entrepreneurship is intrinsic to this concept of innovation. The CSIM has a multi-disciplinary orientation in its programs and activities and embraces academic research from colleagues with expertise in psychology, sociology, human behavior, cognitive science, organizational behavior, management, marketing, information systems, economics, accounting, finance and other disciplines applicable to the study of innovation management. Director: Dr. Carlos M. Rodriguez. crodriguez@desu.edu Center for IT Services The Center’s mission is to provide professional IT services to the government agencies, non-profits and small business enterprises in and around Delaware through active student involvement & learning and applied research. The purpose of the center includes, but is not limited to: (a) Offer professional IT services to non-profits, government agencies, and business organizations located in and around Delaware at affordable cost, (b) Maintain relationships with government agencies and industry in and around Delaware, and (c) Provide real-life experience to students in the area of IT services and project management. Director: Dr. Chittibabu Govindarajulu. Chitti@desu.edu Delaware Center for Transportation The objective of the Delaware Center for Transportation Management is to become a premier resource in the State of Delaware for teaching, training and research in transportation management. The Center will be housed in the College of Business at Delaware State University. The Center will be headed by a Director with project-based staff support. The Center will work closely and collaboratively with the Delaware Department of Transportation (DELDOT), Federal Highway Administration (FHWA), Federal Transit Administration (FTA) and business and industry in Delaware. Director: Dr. Nanda K. Viswanathan. nviswanathan@desu.edu

Wall Street 101

Body: 
  Camp Wall Street 101 – Student Edition Delaware State University’s College of Business, through the Delaware Center for Enterprise Development (DCED), is planning a one week day camp in the summer of 2010 for students entering grades 9 through 12 who are interested in learning about finance and the stock market. Camp Wall Street 101 – Student Edition will be held on Delaware State University’s Dover Campus during the first week in August with a capacity for 30 students. Campers will spend the week in the College of Business Financial Network Trading Room, learning the basics about financial management from DSU professors and/or other trained professionals in the finance field. The students will take a field trip to reinforce their learning experience either to the Bank of America Heritage Center, a stock market, or other appropriate financial institution.    DSU’s Financial Network Trading Room, one of three in HBCUs (Historically Black Colleges and Universities), replicates a real-world trading experience and functions as a laboratory and classroom.   Televisions offer access to live coverage of financial news and real-time tickers and stock boards provide students with the latest financial information. Each of the 20 dual-monitor workstations in the Trading Room is equipped with software needed for finance-related activities.    Camp Activities The various activities of Camp Wall Street 101 will give students an excellent overview of financial markets and how they function. They’ll have the opportunity to: Trade and compete in simulated financial markets Learn about time value of money, portfolio theory, and how to use a spreadsheet as well as interpret financial statements Study market efficiency Build models to analyze and value securities Use the tools of Wall Street (including such tools as Investopedia.com and finance.yahoo.com) Learn statistical, behavioral and other financial insights from games of chance Assemble the building blocks of financial analysis Construct and optimize portfolios Experience college life and interact with members of the DSU student body and College of Business faculty and staff, and Gain valuable mathematics and business knowledge that is aligned with state curriculum guidelines. Each day will feature a simulated trading exercise. Morning sessions will run from 9:00 a.m.–12:00 p.m. Afternoon sessions will run from 1:00–3:00 p.m. Families will be invited to Friday's close-out activities. Camp Wall Street 101 – Teacher Edition The Teacher Edition of Camp Wall Street 101 is a training class for up to 20 teachers at the middle and high school level who are teaching business, finance and marketing related subjects and want to incorporate the Stock Market Game® or other simulated portfolio management project into their curriculum. It is intended to provide in-service hours for the participating teachers with the Delaware Department of Education (DOE) approval and support. The curriculum was developed to ensure that it meets the needs of teachers and their schools. Teachers will spend two/three evenings or one Saturday in the College of Business Trading Room, learning the basics about financial management and trading from DSU professors and/or other trained professionals in the finance field, who will use the Trading Room to provide instruction. While teachers may instruct via the Stock Market Game in their business, finance and/or banking classes at vocational-technical schools or in economics classes, the level of support for this instruction does not include in-depth training or experiential education with actual market information. This type of training is unique to DSU.    This innovative in-service opportunity is designed for teachers who instruct middle school and/or high school students interested in the stock market or financial careers, especially those who teach the Stock Market Game® or have other financial simulations in their classrooms. The in-service opportunity will provide teachers in-depth exposure to what’s happening on Wall Street. It will give them an enhanced understanding of the world of finance and help them to be more effective teachers.    Wall Street 101 – Saturday Academy Delaware State University’s College of Business, through the Delaware Center for Enterprise Development (DCED), offers the Wall Street 101 Saturday Academy. The Academy will be an enrichment experience for middle school youth to gain knowledge about the financial markets and will be held on Delaware State University’s Dover and Wilmington Campus or other community locations. Participants will learn the basics about financial management from DSU faculty or other trained finance professionals.    Academy Activities The various activities of the Wall Street 101 Academy will give students an excellent overview of financial markets and how they function. Academy students will be trained with the curriculum developed for Camp Wall Street participants and will have a field trip to an appropriate financial institution scheduled for a date during the school year.  

Applied Business Research

Body: 
  Applied Business Research The most up to date Applied Business Research and analytical methods will be used to identify best business practices for small businesses. This information is collected and disseminated to small business users through our resource center network.   This research will provide small business owners with the needed knowledge to make the best practical decisions in identifying the market for their products and services and pricing and financial strategies.   In cooperation with local businesses, collaborative partners, and designated USDA/Rural Development employees, the Delaware Center for Enterprise Development (DCED)  provides consulting services to existing and new businesses. Small Business Institute (SBI) DCED Offers Free Consulting Services through the SBI A new program to improve the economic health of Delaware businesses by providing free consulting services and business solutions is now available through the Delaware Center for Enterprise Development (DCED). The Small Business Institute® is a national program that will operate at Delaware State University (DSU) within the College of Business under the management of DCED.   The SBI began as a funded program in the Small Business Administration (SBA) in 1972. More than 500 universities and colleges have participated in the SBI program with approximately 134 schools participating in 2004. In 1996, the program became independent of the SBA and is currently administered by the Small Business Institute®.    The primary goal of the SBI program is to provide high quality field-based business consulting to small business clients while providing an extraordinary learning experience for university MBA students. The program will use student teams of two to four, under faculty supervision, to conduct in-depth consulting and field case projects to analyze and create solutions for local small businesses. The SBI team and the SBI Director will meet frequently with the small business owner over the course of the academic term to learn about the owner’s goals, understand the business’s history, observe operations, and to identify opportunities and specific problems. The teams will then conduct in-depth consulting and field case projects to develop and propose options for local small businesses. At the semester’s end, each SBI student team will deliver a comprehensive written and oral report recommending courses of action or solutions with the end result to improve the economic health of client businesses whenever possible. Small business owners can receive additional information on the SBI, by contacting Ms. Ilona Figat at 302-857-6953 or by email at ifigat@desu.edu.  

Food Business Incubator Center

Body: 
  The mission of the Food Business Incubator Center (FBIC) is to nurture, support, and sustain food and agricultural industries in the Delaware region by providing business and technical training, resources for product and process evaluation and incubation, and a trusted source for information and guidance. The kitchen incubator at Delaware State University (DSU) is managed by the Delaware Center for Enterprise Development in collaboration with the Department of Hospitality and Tourism Management (HTM). The commercial kitchen incubator is located in the Bank of America Building on DSU's Dover, Delaware campus. The incubator provides a low-cost commercial and licensed facility that can be used by food producers. Incubator tenants will time-share space according to the amount of time needed while saving considerable expense over equipping their own kitchens. The FBIC provides low-cost kitchen facilities that can be used to produce food items for business. The commercial, licensed and certified kitchen is available by appointment and provides dry and cold storage, on-site assistance and access to computers, printers, fax, copier and a variety of office equipment. If you would like additional information about the kitchen incubator, please contact Audrey Scott Hynson, Incubator Manager at (302)857-6951.

Success Stories

Body: 
2010 SUCCESS STORIES Betty Jean’s Special Sauce Outline of Need: Cheryl and Orville Carney started a small catering company and were desperately in need of a licensed commercial kitchen to prepare their food products. The Carney’s had been sharing kitchen space with a local restaurant when they saw an advertisement in the Dover Post for DCED’s Food Business Incubation Center. This was an answered prayer for the Carney’s who now had a new place to prepare their food items for sale. The Carney’s had also begun exploring marketing a special sauce from a favorite family recipe. How DCED Helped: The Carney’s were able to rent space in DCED’s kitchen incubator and have access to a licensed commercial kitchen to expand their catering business named An Affair to Remember. The Carneys were also able to begin seriously pursuing marketing Betty Jean’s special sauce. They hosted a sample taste testing event at DSU asking participants to rate their sauce compared to their major competitors. SBI students assisted the participants and recorded the results; Betty Jean’s Special Sauce was rated the best from 100% of the sauce tasters. The Results: The Carney’s are now exploring difference bottling options for their sauce and considering the recommendation provided to them by the SBI team members. They have become the exclusive in-house caterers for all special events at the Milford Senior Center. They have already catered three large events at this location. The Carney’s will also be hosting a cooking show at the Delaware State Fair this year. Cheryl Carney recently wrote to DCED’s Incubator Manager expressing her gratitude and stated, “We can never say it enough and we honestly say it at least once a day – we would never have done this without the help of you and all the staff at DCED. When we first walked into the kitchen at the Senior Center it was just like the incubator kitchen. Having the opportunity to work in your kitchen, along with the safety training you provided, allowed us to walk into our own kitchen and work with confidence.” The DCED staff continues to assist the Carney’s and is helping them work with DSU faculty to determine the shelf life of their sauce. God’s Creation receives Marketing Assistance Outline of Need: Michelle Donnatien, owner of God’s Creations, a company specializing in natural hair and skin products was seeking a new marketing plan for her business. She wanted to explore social media and needed guidance on how best to promote her unique hair and skin products. Michele had begun to use YouTube but felt her videos lacked customer appeal. She was also uncertain about her pricing strategy and how to position her products in the marketplace. How DCED Helped: Michele began meeting with DCED’s Enterprise Consultant who provided her one-on-one technical assistance in developing a new marketing strategy for her business. With the additional help of a team of SBI students Michele was able to fine-tune her YouTube video and expose the uniqueness of her product to a much wider audience of potential customers. Ms. Donnatien has been working with staff from DCED for over a year. It was determined that her pricing structure as not adequate, and that she needed to explore ways to reduce her costs. The SBI team also assisted Ms. Donnatien in identifying possible alternatives for packaging her products in order to bring her costs down. The Result: Through the technical assistance Ms. Donnatien received from DCED and the SBI student team, she realized that her products were not properly marketed, and that her packaging needed to be changed. An alternative packaging approach had to be considered in order to sustain her business. She had to either lower her costs or raise her prices; in the current economic environment she felt a price increase would hurt her sales. Through the assistance she received from DCED and the SBI, she now has her newly packaged product for sale at the local natural foods grocer in Dover, and her business is profitable.  DCED helps Best Loser in Delaware become a Winner! Outline of Need: Debbie Lonski of Exquisite Nutrition had been operating her business for over a year without a business plan. Mrs. Lonski, at one time, was considered obese and needed to lose weight in order to maintain her health. She became involved with Herbal Life Products, lost weight, and wanted to share her success with others. Mrs. Lonski had the passion for her business but lacked the clear direction of a plan to move her business forward. How DCED Helped: Through the technical assistance made available to her through DCED, Mrs. Lonski now has her vision on paper and is already meeting some of her goals. She is working to develop a comprehensive business plan to provide a roadmap for growing her business venture. The Results: Mrs. Lonski started her first “Best Loser in Delaware” weight challenge in Dover and continues to encourage others struggling to lose weight to join her in working to become healthier. Her vision is to see a healthier population in Delaware, thus her saying, “I want to see less of you next time.” Mrs. Lonski trains others to become coaches and holds support meeting throughout Kent and Sussex Counties. Three sites are now in operation in Delaware.      2009 SUCCESS STORIES DCED Assists Two Winners of Third Annual Business Plan Competition for Family Child Care Providers  Outline of Need: In the spring of 2009, The Delaware Center for Enterprise Development (DCED) and its partners, such as the First State Community Loan Fund (FSCLF), announced the third annual state-wide business plan competition for child care providers.  In the past, only family child care providers could apply; this year the competition was open to center owners, as well.  Citigroup provided FSCLF with the funds for the awards.  It was announced that the awards would be $5,000 for first place and $2,500 for second place Family Child Care Providers.  The best plan submitted by a Child Care Center owner would receive $5,000; second place would receive $2,500. Mrs. Donna Savini a large family child care provider, in the rural community of Lincoln, Sussex County, Delaware, met with DCED’s Enterprise Consultant. Although they only met that one time, the two of them stayed in contact throughout the business plan writing process.  In the spring, DCED offered the Developing Your Family Child Care Business course in each of the three counties.  The interest from Sussex County did not warrant providing a separate class; those participants were invited to join the Kent County class.  The class met on Saturday mornings from 8:30 a.m. until 3:00 p.m.  Mrs. Crystal Wheatley, a Level II Family Child Care Provider from Millsboro, DE, attended the classes in Dover even though it meant she would need to be on the road by 7:30 a.m. and travel over 50 miles each way.  How DCED Helped: Ilona communicated with not only these two caregivers, but with 7 family child care providers and 1 child care center owner.  They talked by phone and sometimes very late at night or very early in the morning when the children were not present.  Sections of their plans were e-mailed to Ms. Figat, as the caregivers completed them. This system seemed to work best. The Results: The completed business plans had to be sent electronically and reach the First State Community Loan Fund’s office by May 15, 2009.  In the early hours of the deadline date, the business plans were transmitted. Then, on June 27, 2009, DCED and its partners celebrated with over 25 of the 41 family child care applicants at a reception held at Delaware State University in the College of Business at the Dover Campus.  After brunch was served, many providers and their families, along with technical assistance representatives from partnering agencies throughout the state, were awaiting to hear the names of the five winners.  Mrs. Savini won first place and Mrs. Wheatley won second place. These caregivers are thrilled to have accomplished such a tedious task as completing a business plan.  Ilona continues to keep in touch with the caregivers.  She also still communicates with the non-winners encouraging them to improve their plans.  Anyone interested in technical assistance to help with completing their business plans can call Ilona at 302-857-6953.   DCED Assists Small Business Owner Outline of Need: Maurice Curtis of EliteAutoTuning was in the process of publishing his website and needed assistance in developing a business plan. He sells accessories, such as body kits, wheels, and electronics, for high-end vehicles. He recognized that he needed to rent a location where he could not only customize the vehicles, but also store parts he accumulated through auctions. Furthermore, Mr. Curtis not only wants to acquire a brick and mortar location; he also has a strong desire to make his services mobile. By being mobile, Maurice will be able to make his customization more desirable and accessible, as he would travel to the customer’s location. In order to expand and to offer these services, he would need a loan, so he came to Ilona Figat, Enterprise Consultant for assistance. How DCED Helped: While meeting with Maurice to discuss the components of the business plan; Ilona realized Maurice already had the marketing plan in place. He has customer savvy and understood that features tell the customer what he offers, but the benefits is what will sell his products. He was in the process of building a customer base, contacting auto dealers, and negotiating with some manufacturers. EliteAutoTuning wants to be the first place where customers look for their upper-end vehicle customization needs. He knows his target market and is strategizing accordingly. The Results: Within two weeks, Maurice brought the finished business plan to Ilona for review. The business plan was well written, needing just a few additions. Once the financial needs were identified, Ms. Figat recommended that Maurice and his partners start the initial steps of the loan process. In June, Maurice and Ilona met again. The website was now getting approximately 160 hits a day. He was not satisfied with this low number. Maurice’s vision is to create a network for the international aftermarket, including customers, parts manufacturers, dealerships, magazines and tuning shops. In order for Elite AutoTuning to become the leading online resource for the high-end aftermarket; Maurice feels he not only needs more exposure, but he needs to move quickly. Ms. Figat and Maurice reviewed his marketing strategy. She commended him for the growth his company was experiencing; assuring him that he was doing quite well for a start-up business. During that meeting, Maurice identified other services he could offer providing him with even more exposure on the Web. One such service identified is to offer classifieds to customers wishing to sell their customized vehicles. There would be no charge for the classifieds; Maurice believes that in order to build a business, the relationships need to be built first. This is one service he could offer without it causing any hardship to the business. Maurice and Ilona also discussed a new product (patent pending) to be introduced in the United States during the late Fall. Maurice is appealing to the manufacturer, in Colombia, to contract with Elite AutoTuning. Elite wants to serve as the sole distributor in the U.S. This opportunity was discussed; with Maurice and Ilona identifying a number of concerns to discuss with the manufacturer. Once these issues are addressed, a pricing structure would be developed; and Maurice should be on his way to not only marketing the new product, but also serving as the primary distributor in the United States. Ilona notes that some entrepreneurs just need hand holding, reassurance, encouragement, and validation for their hard work. Maurice needed someone to confirm that he was headed in the right direction. Ms. Figat encouraged him to not only refine his vision, but to also meet with an attorney prior to signing a contract with the manufacturer. She advised that he keep moving forward with the loan process. Maurice Curtis is confirmation that entrepreneurs are risk takers while seeking opportunities and jumping on them. DCED continues to work with Maurice every step of the way! Use of Food Business Incubator Center at DCED Assists Food Companies to Grow Outline of Need: DCED recognized that small food businesses needed a low-cost kitchen where they could prepare food for events and to produce foods for sale. How DCED Helped: DCED appealed to its many supporters; funding was provided, and DCED opened the Food Business Incubator Center (FBIC). The Center is managed by DCED in collaboration with DSU’s Hospitality and Tourism Management Department. DCED’s mission for the Food Business Incubator Center is to nurture, support, and sustain food and agricultural industries in the Delaware region by providing business and technical training, resources for product and process evaluation and incubation, and a trusted source for information and guidance. Since the opening of the Center, DCED has been reaching out to caterers, specialty food producers, farmers and cart vendors that handle food. Services being offered include: business development, product and process development, equipment use training, regulations and compliance support, market research and strategy, and workforce development and training. The Results: Many small business owners have been utilizing the services offered by the FBIC. Pamela Rutherford manufactures dog biscuits. Ms. Rutherford is the owner of Skipper’s Biscuit Company and states that she “is proud to be a participant and the kitchen provided us a stepping stone to take our business to the next level by giving us the opportunity to manufacture in a commercial kitchen that was clean, equipped with an expansive variation of modern appliances, and the usage fees didn’t eat up our budget.” Ms. Rutherford continues by saying, “We are lucky to have such a professional facility so close to home!” Orville and Cheryl Carney are the proud owners of An Affair to Remember, a catering service. The Carney’s state, “the use of the commercial kitchen combined with the eager assistance of your staff has helped make one of our goals come to life – a full service catering company. We found that your Center had more to offer than a full service commercial kitchen with restaurant quality equipment. The staff also provided us with training on such things as food safety and product labeling while showing enthusiasm about the Center.” Cheryl shares that not only did they realize their goals, but the resources offered by DCED has encouraged them to try things they would never thought possible. Small companies such as these are being serviced by DCED with the use of the FBIC. The FBIC continues to provide superior services including dry and cold storage. The users also have access to DCED’s computers, printers, fax, copier, labeling software, and a variety of other office equipment. The goal is to lead companies to self-sufficiency with independent business establishments. Assists Winner of First Annual Business Plan Competition for Family Child Care Providers Outline of Need: In the Spring of 2007, it was recognized that family child care providers are often intimidated about creating a business plan.  The Delaware Center for Enterprise Development (DCED) and its partners, such as the First State Community Loan Fund (FSCLF), announced the first annual state-wide business plan competition for family child care providers. Citigroup then provided $10,000 to be divided among the five best plans written by family child care providers. Mrs. Sarah Reyes, a family child care provider in the Wilmington area reached out to Ilona Figat, Enterprise Consultant for assistance.  Ilona met with Sarah at her home and was quite impressed with the layout of the family child care setting and the fact that Ms. Reyes encouraged bi-lingual activities. Although, Mrs. Reyes was apprehensive about tackling such a huge undertaking, Ilona assured her that she would not only write a plan, but that she believed Sarah could be a winner. How DCED Helped: After Ilona’s initial visit to Wilmington, she and Sarah communicated almost daily.  They talked by phone and sometimes very late at night or very early in the morning when the children were not present.  And, Sarah would e-mail Ilona sections of her plan as she completed them. This system seemed to work best. At one point, Sarah was becoming discouraged, since she was not only writing her business plan, but she was also enrolled in Child Development courses at Delaware Technical Community College.  Sarah felt it was a challenge to complete all the required components; but Ilona kept encouraging her to complete it. The Results: The completed business plans had to be sent electronically and reach the First State Community Loan Fund’s office by April 30, 2007.  In the early hours of the deadline date, Sarah transmitted her plan. She made the deadline! Then, on June 12, 2007, DCED and its partners celebrated with many family child care applicants at a reception held at Delaware State University in the College of Business at the Dover Campus.  After dinner was served, many providers and their families, along with technical assistance representatives from partnering agencies throughout the state, were awaiting to hear the names of the five winners.  Sarah’s perseverance paid off.  She was one of the winners and she received a check for $2,000.  Not only did Sarah accomplish a tremendous task by completing her business plan, she also completed her courses at the Community College.  She and Ilona keep in touch and whenever Sarah has a question, she knows that Ilona is there to help her.  Anyone interested in technical assistance to help with completing their business plans can call Ilona at 302-857-6953 Assists Small Business Owners Within the Community Outline of Need: Mary and John Walson began meeting with Ilona Figat, Enterprise Consultant in April, 2007.  The goal was to complete a business plan for their small business, Collars to Cuffs, a sewing shop that “fits” all needs.  In other words, Mary designs outfits and showpieces to not only fit the non-typical body shape, but she also creates one-of-a-kind garments for her customers. While in California, Mary worked for several Designers.  One particular designer recognized Mary’s talent and encouraged her to go to school.  That’s exactly what she did, and she graduated with a Degree in Fashion and Art from the College of Alameda. Now, Mary was equipped to make patterns in the design rooms she was accustomed to working in.  That was not enough, she wanted to do more.  She opened a shop in California and for five years she was making custom dresses, designing patterns and doing alterations. Mary needed to move back east in order to care for her ill mother.  She took a break from sewing, but not for long.  Once in Delaware, Mary began doing alterations and DESIGNING CLOTHES ONCE AGAIN.  In January, 2007,  she and her husband, John, opened Collars to Cuffs.  In other words, they can design anything from head to toe! Mary is the creator of fashion and John is in charge of time management, scheduling the clients, and handling the business aspects of the shop.  This couple has what it takes to run a successful business.  They have the passion, desire, determination and know how. The couple is very thankful for Ilona’s assistance in helping them to complete their business plan; and feel that it has helped them recognize the direction they want to take with their business. How DCED Helped: Mary’s newest vision is teaching custom dressmaking to persons interested in learning the skill, and then hosting a fashion show to highlight the finished products. A concern has been whether there is a market in the little state of Delaware for learning this area of expertise. So, once Ilona established the  Small Business Institute® (SBI), in the College of Business, at Delaware State University, she met with John and Mary, and Dr. Nanda Viswanathan, a professor teaching Marketing in the MBA program. The MBA students then met with the Walsons to assess the marketing needs of the new venture.  The Results: Seven weeks later, a marketing plan was developed; and the students presented it to the Walsons on May 1st.  Once again, the Walsons are thrilled with the assistance they have received from the Delaware Center for Enterprise Development.  Without the assistance from DCED and the students involved with the SBI, the Walsons aren’t sure they would have been able to launch their new venture.  Now, Mary meets on Saturdays with a group of persons learning custom dressmaking and plans are being made for the fashion show to be held in the fall. You can visit John and Mary at their new location at 44 Evergreen Drive, Dover, DE.  The Shop is opened from 10 to 6 Monday through Friday, and by appointment on the weekends and in the evenings by calling 302-678-7125. Assists Owner of Cross Fit Dover Outline of Need: In January of 2007, Mr. George Dobbins met with Ilona Figat, Enterprise Consultant to discuss his dream of opening his own CrossFit location. While exploring the ins and outs of starting a business, George knew he needed to begin writing his business plan. CrossFit Dover is for those persons interested in fitness. But, according to George, “while working out at CrossFit, people can expect to increase their core strength and conditioning through a variety of functional exercise.” George has the passion for motivating his participants by often challenging them to fight through their pain. While the CrossFit members are working with George, he tries to fit in as much as he can into the hour session. George is a hard worker, and he doesn’t mind working long hours. His challenge was to find other folks like him that would appreciate the concept of CrossFit. A marketing plan was needed and the challenge was to distinguish his exercise program from those of the competitors. How DCED Helped: George was sharing space with a local gym. He was sure he would have a following if he ventured out on his own. He just needed to find an affordable space, dedicate many hours to marketing the concept, and begin generating revenue. George met with Ilona on a weekly basis. He created a business plan; and he and Ilona worked together to develop not only a marketing plan, but also a pricing schedule that would create revenue and profits for the young entrepreneur. By March of 2007, George was in his own place and members of the community were frequenting his establishment. His dream became a reality. The Results: The challenge was to get the people to join. In just listening to George, Ilona felt that once the member would join, he would be hooked. Today, CrossFit Dover is up and thriving. George is devoted to his members and he wants them all to reach their goals. He develops an exercise portfolio to meet each member’s needs. He believes Word of Mouth has been his most successful marketing strategy. George appreciates the importance of excellent customer service, and once he opened his doors, he knew that he would want to expand. In order to make it on his own, he needed to generate enough profit. So far, he is doing just that. Recently, George was highlighted in a local newspaper for the work he was doing with a local pregnant woman – nine months pregnant! She was performing overhead squats with free weights, squat thrusts, and other exercises; and later that day, she was scheduled for a Caesarian section. CrossFit Dover is located in Camden, Delaware and George can be reached by calling 302-242-5400. A Touch of New Orleans Goes a Long Way in Delaware Cajun Queens Catering Services have been catering for the Delaware Center for Enterprise Development (DCED) and other state agencies since her graduation from the Entrepreneurial Program. The owner, Sandra Winfrey not only caters the affairs, but also she has also served as the keynote speaker on occasion.. Ms. Winfrey started her business twelve years ago when she saw an ad for the Entrepreneurial Success Course offered by DCED. She immediately signed up and says that “the benefits of taking that class has helped my business to grow by 300%.” Sandra initially started her business with her sister and notes that most of her business is through word-of-mouth. She is proud of the fact that she spends very little money on advertising. She knows that referrals are the key and she set high standards when she first started out and still follows those standards today. She is always on time, offers excellent quality, pays attention to details and provides a little more (“lanyap”) New Orleans style. She attributes her success on the information she learned by taking the Entrepreneurial Success Course. She states: “I learned the things to avoid, and that my paperwork needs to be in order. Additionally, I became knowledgeable in accounting principles, how to price my products and customer service techniques.” Ms Winfrey adds, “Who would have thought that doing something I love would bring me such a sense of achievement. I tell everyone, "Go after your Dreams and don’t let anyone discourage you. If I could do it, anyone can.” Entrepreneurial Course Graduates Highlight Niche Product Gary and Nancy Petitt, graduates of DCED’s Entrepreneurial Success Course are sprouting their chestnuts in a Delmarvelous way; and the Delmarvelous Chestnuts are gaining national notoriety. The Kent County, Delaware couple was highlighted in Southern Living Magazine, Food Finds, a TV show on the Food Network, the News Journal, Wilmington DE Today, and the Hobby Farms Magazine. Gary and Nancy own a 30-acre chestnut orchard in Townsend, DE and sell chestnuts, seedlings and chestnut gift items. After graduating from the Entrepreneurial Success Course, they expanded their idea of selling chestnuts and created a website, www.delmarvelouschestnuts.com. The couple harvest bushels of chestnuts every fall, shipping Delmarvelous Chestnuts all over the nation. In the early 20th century, chestnuts were very scarce. One-fourth of the chestnut trees in the Appalachian forests were hit by an Asian fungus, called chestnut blight; and within 40 years, in excess of 3 billion chestnut trees were wiped out. Luckily for chestnut lovers, many of the roots survived and began sending up sprouts that made breeding work possible; and that is what Nancy & Gary are doing. They planted over 1,600 trees and are successfully resurrecting the supply of homegrown chestnuts. In fact, Delmarvelous Chestnuts ranks as one of the top five commercial growers in the U.S While the couple was enrolled in the Entrepreneurial course, the instructors emphasized finding a niche product. The Petitts have certainly succeeded in finding their niche. They sell the seedlings in the spring; and they sell out of chestnuts in record time in the fall. If you are interested in learning more about this successful couple, you can send an e-mail to nancy@buychestnuts.com or see their website at www.delmarvelouschestnuts.com.

Business Economics

Body: 
  Welcome Welcome to the homepage of the business economics concentration. Here we have provided you with information that you will find helpful in learning about the exciting field of economics. In addition, the information on this page will help you determine whether economics is the right major for you.  If, after reviewing the information on this page, you have additional questions, please feel free to contact us.  We will be happy to assist you in any way that we can as you make the very important decision of choosing your major field of study. What is economics? Economics is sometimes referred to as the queen of the social sciences. Economists are the only social scientists who are awarded the Nobel Prize each year for their contributions to the body of social science knowledge. To see the wide range of issues to which economists have applied economic principles, take a look at the contributions of Economists who have won the Nobel Prize. An understanding of economics is also necessary for successfully completing studies in business disciplines such as finance, marketing and strategic management. Finally, statistical studies have shown that students who complete an undergraduate degree in economics are well prepared to enter law school. One study found that the average Law School Admissions Test (LSAT) scores of economics majors ranked first among 15 different majors. In another study, economics majors ranked third among 29 different majors. What you must do to successfully complete the degree program in economics To successfully complete the degree program in economics, you must develop the skills to think logically, utilize quantitative tools to analyze data  and communicate clearly, both verbally and in writing. See the AEA website for further information about the skills that you will need to succeed in the field of economics.  The curriculum sheet contains the exact list of courses that you must complete to earn the degree in business economics at Delaware State University. The course descriptions site describes the content of each of the economics courses that you must complete.   Economics is a challenging major, but we think that you will find it to be an exciting one as well. As you work your way through the program, we are here to help you, especially on those occasions when may feel discouraged. What do economists do? If you are successful in earning an undergraduate degree in economics, there will be many employment opportunities available to you.  With an undergraduate degree in economics, you will be well-qualified to pursue a career in many different occupations with private for-profit firms, as well as with the government and nonprofit organizations. You will also be prepared to pursue graduate studies in economics, business or enter law school. For more information about the types of careers available, click on the careers tab on the AEA website. The Famous Economics Majors page contains a list of famous people who earned an undergraduate degree in economics. By reviewing this list you will see the wide range of careers that economics majors have pursued. Finally, to learn about the employment outlook and earnings for people trained as economists see the Occupational Outlook Handbook. To see the types of careers that economics majors who graduated from Delaware State University have pursued, see Where are our graduates?   How much do economists earn? The average starting salary in 2007 for graduates with a bachelor’s degree in economics and no experience was $48,483. To see how this salary compares to the salaries of other majors go to the AEA website, click on the careers tab and scroll down to career earnings.  
Rightbar: 

 

Economics Faculty:

Dr. Richard Bieker
Dr. Michael Casson
Dr. Jan Christopher
Dr. Rachel Mathers

 

Master of Business Administration (MBA)

Body: 
  Program Outline The MBA program consists of 48 credits, including 18 credits of Foundations and 30 credits of Core, Capstone and Elective courses.  Appropriately qualified students may petition for a waiver or may test out of foundations courses up to a maximum of 18 credits.   In order to waive a course, a student must have taken the equivalent undergraduate courses or a graduate course at another institution with a grade of B or better.   To test out of a course, a student must successfully pass a comprehensive test in the course developed by COB faculty members.  Students seeking additional information on waiving or testing out of a course will be advised to contact the MBA Program Director at 302-857-6978. To complete the MBA curriculum, students must take a minimum of 30 credits of upper level MBA courses (core and electives), of which 21 must be taken at DSU. Foundation Courses  Credits Accounting Foundations (MBA 501) Economics Foundations (MBA 502) Finance Foundations   (MBA 503) MIS Foundations (MBA 504) Marketing Foundations (MBA 505) Quantitative Methods Foundations (MBA 506) 3 3 3 3 3 3 Total Foundation Credit Hours    18 Required (Core) Courses Credits Economics for Managerial Decision-Making (MBA 601) Marketing Management (MBA 602) Business Law and Ethics (MBA 612 revised) Financial Management (MBA 604) Organizational Leadership & Behavior (MBA 605) Operations Analysis and Management Information and Technology Management (MBA 600) 3 3 3 3 3 3 3 Total Required Credit Hours 21 Capstone – Required of all students Applied Strategic Management (MBA 616)  3 Two Elective Courses - Required of all students (Students can substitute up to 6-credits of practicum involving a real-world project or up to 6-credits of internship 6 Total MBA Credit Hours (with foundation courses):   48 Total MBA Credit Hours (without foundation courses):   30 If you would like to have a concentration in either Finance or Information Systems, you will need 9 credit hours. Your 2 required electives will count towards the 9 credits. Finance Concentration: Financial Statement Analysis (MBA 617) Investments and Portfolio Management (MBA 641) Derivative Securities and Risk Management (MBA 642) Domestic and Global Financial Markets and Institutions (MBA 643) Economic and Financial Environment of Business (MBA 645) Information Systems Concentration: Strategic Information Systems (MBA 631) Managing Electronic Commerce (MBA 632) Topics in Information Systems (MBA 633) Supply Chain Management (MBA 651) Project Management Concentration: Project Risk Management (MBA 621) Project Management Methodology (MBA 622) Program and Portfolio Management (MBA 623)    

Pages