Costello College of Business News

Management Faculty Research

When expressing gratitude, it’s all in the timing

Jennifer Anzaldi — Wed, 04 Sep 2024 14:42:32 +0000

When expressing gratitude, it’s all in the timing Jennifer Anzaldi Wed, 09/04/2024 - 10:42

Thanks so much for reading this article all the way to the end! No, that wasn’t an editorial error. It’s a savvy managerial motivation strategy lurking somewhere in almost every employee’s inbox or Slack channel.

Mandy O’Neill, an associate professor of management at the Donald G. Costello College of Business at ��AV, has discovered a potential new addition to the annals of managerial motivation techniques: anticipatory gratitude.

Mandy O'Neill

We all know that thanking people for a job well-done, or a much-needed favor, is an effective form of positive reinforcement. Psychology researchers classify gratitude as a “socially engaging emotion” that promotes prosocial behavior and strong interpersonal relationships. In the course of exploring how employees cope with high-stress or frustrating work situations, O’Neill and her co-author Hooria Jazaieri of Santa Clara University discovered an interesting wrinkle in what we thought we knew about this popular emotion: Gratitude can be used as a form of emotion regulation and, when expressed ahead of time instead of after the fact, can produce that extra “oomph” when it comes to employee resilience and persistence.

Their paper is in press at Academy of Management Discoveries.

The researchers stumbled upon the power of anticipatory gratitude while researching organizational culture and change within the intensive care units of a leading U.S. hospital. It’s difficult to imagine a more gut-wrenching, high-stakes work environment: The ICU units in question receive what one employee called “the sickest of the sickest” from throughout the region. To decompress and process their emotions after especially difficult shifts, employees routinely emailed the group using an internal listserv. O’Neill and Jazaieri were forwarded four years’ worth of messages, which they analyzed with the help of direct experience gained from extensive site visits to the hospital.

In addition to writing heartfelt outpourings of post facto gratitude, ICU colleagues thanked one another for rising to occasions that had not yet occurred. Some of these emails were pre-emptively apologetic (“I may have to take a day or two off from time to time…Thank you for your patience and understanding”). Others seemed to function as pep talks, inspiring teams to keep up the good work (“Thank you…for bringing your a-game to work every day”).

As O’Neill describes it, “The ‘thanks in advance’ phenomenon involves an awareness that you’re going to be annoyed or upset by what I’m asking you to do, so I infuse you with the positivity of that feeling you get when someone expresses gratitude to you. Think about it as an emotional buffer. It helps with the inevitable distress of the task that’s going to happen later. It makes those negative emotions less salient, less powerful, and less insidious.”

The researchers launched several follow-up studies to learn more about the effects of anticipatory gratitude. They chose a context—Amazon’s Mechanical Turk (MTurk) gig-work platform—that was in many ways the polar opposite of the ICU. “You go from the ultimate interdependent work environment to the ultimate transactional work environment,” O’Neill explains.

“The ‘thanks in advance’ phenomenon involves an awareness that you’re going to be annoyed or upset by what I’m asking you to do, so I infuse you with the positivity of that feeling you get when someone expresses gratitude to you. Think about it as an emotional buffer."

The MTurk workers were assigned to solve extremely difficult puzzles. After completing the paid task, they received negative feedback about their performance and were offered the opportunity to do additional puzzles without being paid. MTurkers who had seen a message of gratitude before the main task voluntarily took on significantly more unpaid work than those who received a similar message after the paid exercise.

“What’s so compelling and surprising for us is that anyone who does work with experienced online gig worker populations knows it’s nearly impossible to induce workers to go beyond their assignment, even by 30 extra seconds, which is about what we were asking for,” O’Neill says.

Questionnaires administered during the study revealed that anticipatory gratitude enhanced feelings of communal self-worth, which contributed to the participant’s resilience, that is, their ability to “bounce back” after the initial failure. In a third study, the researchers found anticipatory gratitude was better than a related positive affect—anticipatory hope—at motivating MTurkers to persevere at (i.e., spend more time on) a different set of challenging puzzles.

At this point, the potential for managerial manipulation should be crystal clear. Indeed, it was evident even to some of the gig workers, who wrote private messages such as, “It may be partial trickery for academic purposes but it was still nice to hear.”

"Gratitude can’t be a substitute for fair pay and decent work conditions...But our findings are clear: anticipatory gratitude works; it is effective.”

For O’Neill, these findings show that gratitude is more complicated than we previously thought. “This paper is one of the very few to show that gratitude isn’t always authentic and prosocial. It can be used strategically, especially for managers,” she says.

Sincerity and strategy are not mutually exclusive. Empathic managers whose feelings of gratitude are so strong that they have to be expressed beforehand could still be taking advantage of the “thanks in advance” phenomenon.

“In all organizations, you need people to stick with difficult or thankless or boring tasks. The challenge, of course, is how to do so ethically. Gratitude can’t be a substitute for fair pay and decent work conditions, for example. But our findings are clear: anticipatory gratitude works; it is effective,” O’Neill says.

In This Story

Olivia (Mandy) O'Neill

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Management Faculty Research

GenAI brings us closer to automating investment expertise

Jennifer Anzaldi — Thu, 22 Aug 2024 18:39:34 +0000

GenAI brings us closer to automating investment expertise Jennifer Anzaldi Thu, 08/22/2024 - 14:39

In This Story

Yi Cao

Long Chen

Large language models (LLMs) such as ChatGPT and Google Gemini excel at being trained on large data-sets to generate informative responses to prompts. Yi Cao, an assistant professor of accounting at the Donald G. Costello College of Business at ��AV, and Long Chen, associate professor and area chair of accounting at Costello, are actively exploring how individual investors can use LLMs to glean market insights from the dizzying array of available data about companies.

Long Chen and Yi Cao

Their new working paper, co-authored with Jennifer Wu Tucker of the University of Florida and Chi Wan of University of Massachusetts Boston, examines AI’s ability to identify “peer firms,” or product market competitors in an industry.

Cao explains the significance of selecting peers by relating this process to the real-estate market. “The capital market is similar to the real-estate market in that a firm’s value is partially determined by the value of its peers. In the real-estate market, we price a home based on the value of comparable properties in the neighborhood, or the so-called 'comps.' In our paper, we aim to leverage the power of LLMs to identify comps for evaluating firm value.”

This task is at least as difficult as it is essential. It takes much time, skill and effort to gather, aggregate and manage data to select peers. However, the researchers reasoned that LLMs could do a lot of the heavy lifting of data aggregation and analysis for the individual investors, and produce a list of peers comparable in validity to that identified by human experts.

“The advantage is in the capability to utilize all the information potentially out there so that it is at least performing as well as other traditional methods that can help us investors and researchers,” says Cao.

For the study, Chen and Cao employed Bard from Google, now known as “Gemini,” as their LLM of choice because “Bard has a greater ability to utilize its pre-training data, which is arguably larger than ChatGPT’s and with more parameters,” says Cao.

After defining “product market competition” and forming a prompt for Bard, the researchers instructed Bard to limit its knowledge pool to a specific year within the period 1981-2023, in order to avoid “look-ahead bias,” i.e., future information scrambling the results.

“We need to understand that LLMs are actually a very powerful, new tool, unmatched in their efficiency, ability to process vast amounts of information at a low cost, and accessibility to the general public.”

They limited focal firms to large, publicly listed companies as there is less data out there for smaller or private firms. In all, the data-set comprised over 300,000 focal firm-years.

On average, the LLM could generate about seven peer firms for a focal firm, a number that is similar to the SEC recommendations on how firms should disclose their segments.

The researchers then compared the LLM’s performance to the lists generated by three human experts for a set of 40 leading computer software companies. The average overlap was a little over 40 percent, greater than expected.

They also compared the AI-identified peer lists to two alternative systems for identifying peers: the federal government’s Standard Industrial Classification (SIC) codes and Text-based Network Industry Classification (TNIC), which compares firms based on linguistic similarities in their 10-K filings. The LLM’s output overlapped significantly with TNIC’s. Plus, the peers identified by the LLM were generally a better fit than those from SIC and TNIC, as their monthly stock returns hewed closer to the focal firm.

But TNIC outperformed the LLM in identifying peers for mid-sized firms within the sample, indicating that it is not a clear-cut case of universal LLM superiority.

“It’s especially beneficial for individual investors—as all the cost concerns that we’re talking about are especially relevant for them,” Chen adds.

Regarding the future of LLM, Chen states, “There are always costs and benefits associated with using generative AI. It is uncertain whether current systems will soon be obsolete.” When asked about the SEC adopting an AI tool for investors, Chen emphasizes that users need to understand the pros and cons of using AI to make their informed judgments “because AI cannot be held responsible for the information it provides or for how it is utilized.”

Chen concludes, “We need to embrace this new technology, but we must recognize that it is not yet in a perfect state. Competition to improve the technology is fierce. Our findings might just represent the lower bound of the effectiveness of the technology.”

Topics

Accounting Faculty Research

Artificial Intelligence

PhD student’s research on COVID-19 transmission leads to discovery of a major model gap

Colleen Rich — Fri, 09 Aug 2024 20:52:40 +0000

PhD student’s research on COVID-19 transmission leads to discovery of a major model gap Colleen Rich Fri, 08/09/2024 - 16:52

Scientists have long studied the spread of diseases, but the emergence of COVID-19 and its profound impact on society have underscored the critical need to understand where and how diseases spread. As ��AV doctoral student Jericho McLeod reviewed literature on disease transmission as part of his work toward a PhD in computational science and informatics, he and George Mason professor Eduardo López noticed a gap in the models and now seek to correct it.

From left, PhD student and George Mason alum Jericho McLeod with Professor Eduardo López in front of their research poster at the International Pandemic Sciences Conference at Oxford University. Photo provided

In trying to understand why disease transmissions were worse in some areas over others, McLeod and López dove into COVID-19 data looking specifically at extended family ties—meaning family members beyond the nuclear family of parents and children, such as cousins, aunts, uncles, or grandparents.

“According to research on social networks in the United States, individuals during crises like COVID-19, contract their social circles yet become more active with them,” said McLeod. “During lockdown, you saw your friends less, but may have still delivered groceries to your grandmother regularly.”

Studies by McLeod, López, and George Mason PhD student Unchitta Kan previously confirmed that people migrated closer to family more frequently after the pandemic began and that availability of extended family plays a primary factor in influencing face-to-face interaction, laying the groundwork for this research. Now, McLeod and López wanted to know if these extended family ties played a role in the spread of COVID-19.

With the help of Kan and doctoral students Bryan Adams, Valentin Vergara Hidd, and Mailun (Alan) Zhang, they aimed to confirm that these networks mattered enough to warrant future research and updates to disease modeling.

The team gathered obituaries in the Unites States between 2020 to 2022 to examine familial relationships with Centers for Disease Control and Prevention (CDC) data on deaths by geography, age, and gender. They found that during COVID-19, there were more instances of multiple family members dying within short periods (e.g., 60 days) compared to 2018 and 2019, where such cases were less common. This rise in deaths aligns with CDC data on excess deaths but is more noticeable between different waves of the pandemic. So, should these relationships be considered in models demonstrating the spread of disease? McLeod says yes.

In July, McLeod presented his research at the International Pandemic Sciences Conference at Oxford University and was awarded best poster presentation in the epidemiology, data and analytics category.

“I am very proud of our work, and it has been collaborative in every way,” said López, who is an associate professor of computational data sciences. “Jericho has a strong ability to work through the data engineering portion of a problem, but also has the intuition necessary to make this research happen. We were optimistic that we would see the effects that we did, and now we have this great opportunity to study something that people have just completely overlooked.”

McLeod earned a degree in accounting from the University of South Alabama before attending George Mason to earn an MBA. In one of his business courses at the Costello College of Business taught by Pallab Sanyal, professor of information systems and operations management, McLeod was introduced to data analytics and machine learning—and found it fascinating. He went on complete a graduate certificate in data analytics at George Mason before deciding to pursue a PhD.

“Attending the [Oxford] conference was so energizing,” McLeod said. “It brought together a collection of top minds, and Dr. López knew the right people to introduce me to, which led to additional conversations, ideation, and thoughts on future directions for this research.”

George Mason’s Graduate Student Travel Fund, offered by the Office of the Provost, supported McLeod’s trip to the Oxford-based conference.

Discover the resources available through GAPSA

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MBA Program

How this summer’s heat waves may impact the economy

Greg Johnson — Tue, 06 Aug 2024 13:39:44 +0000

How this summer’s heat waves may impact the economy Greg Johnson Tue, 08/06/2024 - 09:39

This sweltering summer has brought record-breaking high temperatures to 63 countries, all but cementing 2024’s status as the world’s hottest year on record (even though we’re barely past the halfway point). Such extreme weather trends are bound to have serious implications for the environment, public health, and the economy.

Joseph (Han) Stice

Why, then, aren’t economic indicators flashing bright red? Joseph (Han) Stice, assistant professor of accounting at the Donald G. Costello College of Business at ��AV, has run the numbers on business and climate change. His recent working paper, co-authored by Marcus Kirk of University of Florida and Derrald Stice of University of Hong Kong, paints a picture of profound climate-related disruption underneath the placid-seeming surface of the economy.

For the years 1990 to 2020, the researchers compared quarterly sales performance from a large sample of U.S. firms to the temperature data at their base of operations. In this way, they constructed a measure of weather sensitivity, which they termed “weather beta,” for each company in the initial sample. Specifically, they were looking at whether sales either benefited or suffered when local temperatures were higher or lower than the “ideal” of 65 degrees Fahrenheit.

“What they—they being the people who examine temperature—say is that if it’s above 65, you turn on your air conditioning. If it’s below 65, you turn on your heater,” says Stice.

After restricting the sample to only those firms with discernible weather beta, they ended up with a data-set comprising 66,795 firm-quarters.

Across the sample as a whole, the results were a misleading nonstarter. Weather fluctuations did not seem to have an impact on economy-wide sales, one way or the other.

This was no surprise to Stice. Citing past research, he points out that “the overall economic effect is that colder weather is, on average, better. But that’s not true in every single instance. Some industries (i.e., agriculture) benefit from hot weather. And it also depends on what region you’re in, what time of year it is, etc.”

“We need to have a national discussion and a global discussion,” Stice says. “But the people who really matter are the local leaders, as far as climate is concerned. The people you elect on the local level are going to have a much greater impact on how you respond and how your companies can adjust, than whether or not your candidate is in the White House.”

To gauge actual impact, the researchers split the sample by size and geographic concentration, presuming that larger firms with a wider geographic footprint would be less affected by temperature changes at home base. These differences between firms proved to be critical. For the smallest, most localized firms, a swing from the 75th to the 25th percentile in terms of nonideal temperature meant 8.8-15.9% lower sales. The biggest and most sprawling firms saw sales declines of just 4.3-5.6% from an equivalent shift.

Stice clarifies that “we are talking about very small deviations, like percentages of degrees on average per day over an entire quarter. If it were one degree hotter than 65 degrees every day, that would come up in our measure as a 90. The biggest number we have is like a 25 or a 30.”

Also, sales impact tells only part of the story. The sheer size of the data-set allowed Stice and his co-authors to predict quarterly sales performance for individual firms, based on the weather and firm characteristics. On average, actual sales declines were about half as severe as predicted. The researchers speculate that firms were able to soften the blow of immoderate temperatures by adjusting their business practices. The time and resources spent on these adaptations are part of the hidden economic costs of climate volatility.

If firm managers can anticipate how the weather can impact business outcomes, you would expect financial analysts to be at least as attentive to climate effects. However, the researchers found that sales forecasts made shortly before earnings announcements were thrown off by abnormal temperatures in the previous quarter, with 7.4% inaccuracy in the mean. Similarly, the researchers found that weather impact was positively correlated with announcement-period stock market returns. Apparently, even professional investors are being caught off guard by the subtle but costly interactions between climate and economic activity.

For more accurate appraisals, Stice suggests we should turn to the local level. He notes that his measures of firm-specific weather sensitivity happen to line up fairly neatly with municipal self-assessments made by local governments as part of the Carbon Disclosure Project.

Empower your future with Costello College of Business

In This Story

Han Stice

Topics

Accounting Faculty Research

Costello MBA global residency experience: consulting project with Circle Care Clinic in Dubai, UAE

Greg Johnson — Wed, 24 Jul 2024 21:25:23 +0000

Costello MBA global residency experience: consulting project with Circle Care Clinic in Dubai, UAE Greg Johnson Wed, 07/24/2024 - 17:25

Each summer, MBA students at the Costello College of Business at ��AV travel abroad as part of their global residency experience. The goal of the global residency experience is for these students to fully immerse themselves in the business culture of the country they are currently visiting. This year, four cohorts traveled to Greece, Japan, South Africa, and the United Arab Emirates (UAE), each having unique experiences based on their destination.

Cohort in front of the Burj Khalifa

During the global residency, the agenda includes site visits at companies ranging from multinationals to startups, delving into their business practices, and learning about the local culture with scheduled tours and events.

As Nirup Menon, professor of information systems and operations management and the faculty lead for the UAE trip, put it, “Sure, reading about doing business in Dubai is useful. But conducting a competition and market analysis for geographic or product scope expansion in Dubai gives students specific and lasting impressions about global business.”

John Davis, the Costello MBA student ambassador, shared his experience and the project he and his team completed in the UAE. Their consulting project aimed to leverage their analytical skills and fresh perspectives to enhance Circle Care Clinic's services and operational efficiency.

The following project recap is written by John Davis, Costello MBA student ambassador.

Project Overview

Our consulting project focused on analyzing Circle Care Clinic's current services and facilities. My team and I conducted multiple meetings and site visits with Circle Care Clinic’s business director Joe Hawayek, immersing ourselves in the clinic’s daily operations to understand its strengths and areas for improvement. We also received great feedback from Mr. Hawayek: “Partnering with the Costello MBA program has been a transformative experience for Circle Care Clinic. Their insightful analysis and strategic recommendations have provided us with a clear roadmap for enhancing our services and expanding our footprint in the UAE healthcare landscape.”

Recommendations

At Circle Care Clinic

Our top recommendation was expanding the services offered by Circle Care Clinic. Recognizing the growing trend and necessity of digital healthcare, we proposed integrating telemedicine services for specific specialties such as dermatology. This addition would broaden the clinic's reach and cater to the increasing demand for convenient and accessible healthcare options. Furthermore, we suggested introducing additional specialties and expanding current ones to attract a wider patient base and provide more comprehensive care. Specialties such as dermatology, women’s health, and orthopedics were highlighted as potential growth areas based on our market research.

Our analysis also covered the strategic expansion of Circle Care Clinic to a third and fourth location within the UAE. We identified optimal locations based on demographic trends, population density, and competition analysis. The recommended sites were selected to ensure maximum accessibility and convenience for potential patients, aiming to solidify Circle Care Clinic's presence in the region. The expansion strategy included detailed plans for resource allocation, marketing, and phased implementation to ensure sustainable growth.

Takeaways

Sightseeing in the desert

This consulting project with Circle Care Clinic in Dubai provided us with valuable insights into international business and healthcare. We navigated the UAE’s healthcare market, learning about its regulations, cultural nuances, and operational challenges. This experience enhanced our understanding of global business and equipped us with skills to thrive in diverse settings. Our team demonstrated analytical prowess and strategic thinking, contributing to the clinic's vision of exceptional healthcare services. This collaboration benefited both Circle Care Clinic and us, allowing us to bring together everything we learned throughout the course of our MBA program and provide insights and actionable growth plans to an established business in a foreign country.

Topics

Costello College of Business Students

Learn more about the Costello MBA

In This Story

Nirup Menon

Scared to negotiate job offers? Do it anyway. Here’s why.

Jennifer Anzaldi — Tue, 16 Jul 2024 14:17:48 +0000

Scared to negotiate job offers? Do it anyway. Here’s why. Jennifer Anzaldi Tue, 07/16/2024 - 10:17

Getting a job offer can be a joyful experience. Often, however, the elation quickly gives way to a state of anxiety, as candidates agonize over whether to accept the terms on the table, or negotiate for better ones. After all, it’s commonly believed that job candidates who negotiate, risk losing the opportunity.

Einav Hart

Einav Hart, assistant professor of management at the Donald G. Costello College of Business at ��AV, challenges that assumption in a recent research paper for Organizational Behavior and Human Decision Processes. Her findings suggest that the expected worst-case scenario—having a job offer rescinded—may be a much more remote possibility than most job candidates believe.

The paper was co-authored by Julia Bear of Stony Brook University and Zhiying (Bella) Ren of University of Pennsylvania.

The researchers conducted seven studies involving more than 3,000 participants. To start with, they surveyed job candidates, hiring managers, and experienced professionals. These surveys showed that job candidates thought it highly likely that negotiating would lose them the job offer, while managers took a more flexible view. The hiring managers reported extending an average of 26.9 job offers during their careers, only 1.73 of which were withdrawn after a candidate negotiated.

In subsequent studies using in-person and online negotiations, Hart and her co-authors found that even taking on an imaginary role changes how one views the negotiation and its risks. They randomly assigned participants to play either a “job candidate” or a “hiring manager,” with real money at stake based on any agreed-upon job offer.

The researchers found that two psychological mechanisms were particularly relevant to explain job candidates’ exaggerated risk estimation: zero-sum perceptions, or the idea that parties in a negotiation are fighting over a fixed and finite resource, and power perceptions, i.e., how much candidates felt they had the ability to influence the hiring manager. Moreover, because of their concern about losing the deal, nearly half the candidates chose to accept the offer as is and not to negotiate.

All else being equal, candidates tended to take a much more competitive (i.e., zero-sum) view of negotiations and a less optimistic view of their power than did the “managers.” This may help explain why so many of us shy away from bargaining for better job offers, to our own detriment.

Hart says that “negotiating is not just zero-sum. Besides negotiating salary, maybe you care more about teleworking than a small signing bonus. The hiring manager might really appreciate the savings and be flexible about how often you come into the office. Thus, this negotiation (and many others) can have a win-win, mutually beneficial solution.”

Indeed, candidates primed to consider negotiation as a potential win-win interaction (as opposed to zero-sum) were less likely to fear losing the deal entirely, and by extension to forgo negotiations. Likewise, candidates primed to have higher power perception were less concerned about jeopardizing a deal and less likely to forgo negotiation. However, even with low zero-sum or power perceptions, candidates still overestimated their risk of losing the deal.

“Besides negotiating salary, maybe you care more about teleworking than a small signing bonus. The hiring manager might really appreciate the savings and be flexible about how often you come into the office. Thus, this negotiation (and many others) can have a win-win, mutually beneficial solution.” —Einav Hart

At the same time, Hart’s prior work suggests that negotiation is a decision that should be made carefully by each party. A previous paper introduced the concept of “Economic Relevance of Relational Outcomes” (ERRO), which points to the fact that there is often a long-term financial advantage in preserving strong relationships, over and above incremental gains to be won in any one negotiation.

Hart says, “Consider negotiating for a babysitter’s rate. What use is negotiating for a great deal on the rate if the babysitter feels bullied in the negotiation and is not excited to take care of your kids?”

Negotiating a job offer is tough and there is a legitimate risk that negotiating can jeopardize the deal. However, Hart’s research suggests that job candidates overestimate this risk and can often obtain better outcomes through negotiating a job offer—at least if they preserve a good relationship.

Looking for more advice? Check out Career Services!

In This Story

Einav Hart

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Management Faculty Research

MS in Business Analytics Student of the Year says hard work, motivation, and organization are key to success

Jennifer Anzaldi — Fri, 28 Jun 2024 16:37:24 +0000

MS in Business Analytics Student of the Year says hard work, motivation, and organization are key to success Jennifer Anzaldi Fri, 06/28/2024 - 12:37

Katie Kacher, the 2023-24 master’s in business analytics Student of the Year is proof that hard work, motivation, and organization are the key ingredients to success in graduate business school. After earning her bachelor’s in commerce from the University of Virginia, Kacher chose the Donald G. Costello College of Business at ��AV for her graduate degree, primarily due to George Mason’s reputation for high caliber coursework and student outcomes. A Northern Virginia resident, Kacher notes that the proximity to campus and the in-state tuition rates were also factors in her decision to be a part of the inaugural class of the master’s in business analytics program.

Katie Kacher

Completing the program in just a year, Kacher has thoroughly enjoyed building her skillset learning multiple programming languages, data visualization tools, and the newest trends in big data. She particularly enjoyed her data mining course with Professor Jean-Pierre Auffret. Kacher says she was impressed with Auffret’s ability to tie in thought-provoking contemporary case studies to class, which called for a good mix of both learning a technical skill and tying it to conceptual real-world elements.

Auffret acknowledged that Kacher’s great interest in learning led to her success in data mining. “Katie is very diligent in mastering complex topics. She made excellent contributions to class discussions with an interest in current issues related to current AI-related issues of trustworthy AI, polices and legislation for AI, and societal considerations for generative AI, such as ChatGPT,” said Auffret. “Katie and her team did a fantastic class project on factors related to U.S. housing affordability.”

Kacher credits her successes as a student to not only the great teachers in the masters of business analytics program, but also to her motivation and dedication to succeeding. “I spend about three hours a week outside of class per course working on classroom-related work,” says Kacher. “I also have a good work-life balance and feel like my organizational skills have helped me stay focused on what’s important.”

Aside from being an exemplary student, Kacher also works as a financial data analyst at Children’s National Hospital in Washington, D.C. “This job allows me to use the technical skills I’ve learned and apply them in a way that makes a difference to people in the world,” says Kacher.

She believes that being organized and intentional in dedicating time to both her schoolwork and career has allowed her to balance starting a new position and a new program simultaneously. For tips on how to balance both schoolwork and career, students may meet with Costello College's Office of Career Services. Kacher met with the Office of Career Services team in the fall to discuss her career pathway and satisfaction. “While career services did not directly get me my job, I would recommend students who are unsure of their career path meet with them to start the conversation,” says Kacher.

Kaleb Lewis, director of career services, agrees. “Meeting with a career advisor early in a graduate program encourages students to think strategically about their long-term career plans. By setting clear goals and milestones, students can stay proactive in pursuing opportunities that align with their aspirations while taking classes,” says Lewis. “The Costello College of Business Office of Career Services can help students identify and leverage transformative career resources effectively, maximizing the student’s potential for success both during and after their degree program. Career advisors provide guidance on professional development strategies, including resume building and networking skills. Our office is here to help build a solid foundation for students’ future career endeavors.”

As for advice for students looking to join the MS in business analytics program, Kacher encourages people to go for their dreams. “If it is something you really want, you can find a way to do it. If you are motivated, anything is possible.”

Topics

Master's in Business Analytics Program

Costello College of Business Graduate Programs

Costello College of Business Students

Students

Photography entrepreneurs continue to grow businesses while studying marketing

Greg Johnson — Wed, 26 Jun 2024 14:18:18 +0000

Photography entrepreneurs continue to grow businesses while studying marketing Greg Johnson Wed, 06/26/2024 - 10:18

Many students graduate from the Costello College of Business at ��AV with bold plans to start their own companies. Bethany Rivera and Alex Tugbang, both undergraduate marketing students and classmates in Jiyeon Hong’s marketing course, had already launched their respective businesses, Rivera’s Photography and Photuggraphy, prior to enrolling.

“In my digital marketing course, I’m trying my best to keep my materials up to date and focus on skills and lessons of practical value, offering many opportunities for students to apply what they learn in class to real-world scenarios,” says Hong. “This is because the digital world is constantly changing, and I believe the best learning can come from hands-on experience.” Focused on their career ambitions and passions, Rivera and Tugbang knew what they wanted to learn more about to become even more successful entrepreneurs.

Bethany Rivera

Her family and friends knew it was only a matter of time until Bethany Rivera became an avid photographer. “Ever since I was born, I was surrounded with cameras and pictures,” she says. She fondly recalls her father giving her a Canon camera when she was 12 years old, but it wasn’t until high school that she realized she could make a living with it. She had taken a picture at a pep rally and sent it to her English teacher, who also taught the yearbook class. They selected the photo to use on the cover, and Rivera quickly became involved with working on the yearbook.

Since officially launching her business in 2021, she has steadily grown her clientele from people she knows in the local Hispanic community. In addition, many of her clients are of Indian background, connections stemming from befriending the owner of an Indian restaurant.

Alex Tugbang

Alex Tugbang’s passion for photography began more recently. Inspired by videos he watched on YouTube, he decided to bring a camera with him on a family vacation to Hawaii in 2016. At first, he wasn’t happy with how his pictures were turning out, but he continued to practice and teach himself until they got better and better.

“When I was in Hawaii, there was this crazy moment when the concierge sat me down and asked me if I made money off photography, and he walked me through how to open a business,” he says.

Shortly after the trip, he started doing photo shoots for friends performing activities like dance. As his content was put out there, dance studios began to contact him. As a graduate of Bishop Ireton High School, he became friends with the bishop who recommended him to several other churches in the area for projects. And so, his client network grew rapidly, all while being a self-taught photographer and videographer.

Both Rivera and Tugbang find their current coursework, especially Jiyeon Hong’s course, immensely helpful in growing professionally. “She doesn’t know this, but every time she’s teaching something I always make the changes on my website,” says Rivera. “Like when she was talking about SEO and how to optimize your SEO and everything, I was on my website making those changes in real time.” One of the course’s projects that Tugbang finds particularly helpful is analyzing a company’s website and social media presence to make recommendations. In fact, it’s something he finds himself doing often for his business. “For example, this dental company reached out to me, and I could see they didn’t even have a website and needed this and that,” he says. With an analytical eye and a strong marketing skillset, he can help clients reach their goals. “I’m very proud of my students who are pursuing their entrepreneurial spirits while managing their academic responsibilities,” says Hong. “I wish them all the best for the continued growth of their businesses.”

Rivera is already doing professionally what she’s always wanted to do. Now her goals are just bigger and more ambitious. In addition to photography and marketing, she finds much to love about being an entrepreneur. “Before I started my business, I was a homebody who didn’t go too far unless it was with family or friends,” she says. “Now that I have clients in different locations, I get to see different locations I wasn’t aware about, and I get to connect with different people from different cultures.” The sky is the limit for Tugbang’s business as well. “I definitely want to keep focusing on my business,” he says. “It allows me to grow myself and grow the community as well because there’s other photographers I’m helping, and they help me with my own projects as well.” With ever-expanding client networks and skillsets, Bethany Rivera and Alex Tugbang are excited to continue growing their businesses to new heights.

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Jiyeon Hong

Dean hosts fireside chat with president and CEO of EagleBank Susan Riel

Greg Johnson — Mon, 24 Jun 2024 14:51:19 +0000

Dean hosts fireside chat with president and CEO of EagleBank Susan Riel Greg Johnson Mon, 06/24/2024 - 10:51

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Ajay Vinzé

Ajay Vinzé, dean of the Donald G. Costello College of Business at ��AV, sat down with Susan Riel, president and CEO of EagleBank, for a fireside chat on the afternoon of Wednesday, April 10.

Susan Riel, president and CEO of EagleBank

In front of faculty, students, and community guests gathered on George Mason’s Fairfax Campus, their discussion covered a range of topics, from EagleBank’s evolution as a startup to a community bank, to how regional banks support the entrepreneurial ecosystem. Having been at EagleBank since 1998, Riel has held several different positions, experiencing and driving the decades-long evolution of the bank and its impact on clients.

EagleBank’s mission is to be the most trusted, experienced, and client-centric bank across the Washington, D.C., region and beyond. With clients over the years including MOM’s Organic Market and Honest Tea, EagleBank was founded on the belief that every person and business deserves individualized financial guidance from experts who care. The bank’s "Relationships FIRST" policy was echoed throughout Riel’s remarks. FIRST is an acronym, standing for flexible, involved, responsive, strong, and trusted.

Susan Riel speaks with Dean Ajay Vinzé

“Entrepreneurs depend on banks,” said Riel. Despite the current challenges for commercial real estate, resulting from many employees not returning to the office following the pandemic, she explained how the banking system is as important as ever and has continued to evolve. Fewer consumers are making banking transactions in person at the brick-and-mortar buildings, leading to a reduction of bank branches. However, with nearly everyone completing their banking needs via mobile devices, digital products are more important than ever before.

“Thinking strategically is an important part of any business,” she said. When considering a bank for employment opportunities, many job seekers think there are limited opportunities. However, Riel assured the audience that there are many professions within a bank, and especially at EagleBank. Many of the new jobs are results of this shift to a more digital banking experience.

Leadership, and especially leading as a woman, was another major theme of the discussion. When addressing how women can get ahead in the workplace, Riel said, “Speak up and share your ideas when you have them. Be open and outspoken.” But it is also advice that she would give to anyone looking to make their mark. “Don’t limit yourself,” she said. “Be open to opportunities.”

After asking his questions, Dean Vinzé opened it to the audience.

Riel spoke of the name recognition that came from naming George Mason’s EagleBank Arena and explained how EagleBank hires diverse thinkers by always attempting to hire the best person for the position.

This is the third fireside chat hosted by Dean Vinzé. The fireside chats are instrumental in providing knowledge and insights to the Costello College of Business community and forging partnerships with leaders in business.

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