Strictly Business Belmont University College of Business Administration

18Jul/12Off

Coke Freestyle: A Marketers Dream

Ever buy a fountain drink only to discover your favorite Coke product is not offered? Rest assured, Coca-Cola has revolutionized the way soft-drinks are dispensed so this will never happen again. Talk about creating happiness, Coca-Cola has transformed the way fountain drinks are distributed with Coca-Cola Freestyle.  Not only that, Coca-Cola may have just created the means of solidifying another century of solid growth. Market data has never before been so accurate and so instant.

Customers select their beverage of choice from over 100 options through touch screen technology and are presented with numerous flavor options.  From a marketing perspective the brilliance behind freestyle is two-fold. First, customers are greeted with a dynamic experience from Coca-Cola that not only provides them with more options than before but also invites them to be a part of Coke’s global marketing campaign of “creating happiness."  Secondly, Coke Freestyle offers Coca-Cola invaluable information of the needs and desires of customers in real time. Through the use of RFID technology, Coke freestyle provides real-time data about which beverage flavors are being consumed when, where, by how much, providing a goldmine of data for Coke’s marketing team.

Beverage companies have long tried to tailor the customer experience to one of enjoyment and satisfaction. Starbucks for example, has created value through delivering a consistent customized product through intense barista training. Those barista’s however, do not have a way of relaying real time data back to Startbucks’ headquarters. Coke freestyle provides the same sort of customization without the hassle or cost of training employees and with the advantage of real-time data on customer trends.

Coke Freestyle is unlike any soft-drink experience before. It elicits excitement in creating customer satisfaction and at the same time provides Coke with a marketer’s dream, real-time data.

This post was submitted by Charles C. Boyd, IV, Massey MBA Candidate.

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30May/12Off

Belmont SIFE Team Wins National Championship… AGAIN!

For the second time in three years, the Belmont University Students in Free Enterprise (SIFE) team won the national championship for their service projects at the SIFE USA National Exposition, which was held May 23-25 in Kansas City. Belmont’s SIFE team will now represent the United States at the international SIFE World Cup competition Sept. 30-Oct. 2 in Washington, D.C.—U.S. Secretary of State Hillary Clinton is already confirmed to host the event. Belmont’s SIFE Team previously took third place in the 2010 SIFE World Cup.

Our team's top place finish places Belmont as the No. 1 team out of nearly 600 teams nationwide and the best of the 156 teams who competed in the National Exposition. Click here to view the team’s winning presentation and the question and answer session with the judges. Belmont SIFE was selected to go to nationals after a seventh consecutive year winning as regional champions.

With the tagline “A head for business, a heart for the world,” SIFE is an international non-profit organization that mobilizes students around the world to make a difference in their communities while developing the skills to become socially responsible business leaders.

Read the full story here.

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10May/12Off

Cornwall Quoted by USA Today

Dr. Jeff Cornwall, director of the Center for Entrepreneurship, was quoted this week in a USA Today article titled “Gen Y grads more likely to launch start-ups.” Click here to read the story.

1May/12Off

Students Win Big at Collegiate DECA International Conference

Belmont students showed their business and leadership skills with their best ever performance at the 2012 Collegiate DECA International Career Development Conference, which was held April 21-24 in Salt Lake City. Twenty-nine Belmont students competed in nine events at the international competition, with 25 of the Belmont participants reaching the finals in their respective events, a phenomenal accomplishment given the more than 1,200 students overall who competed. Belmont students swept the Entrepreneurial Challenge category and placed first in two of the nine events.

Read the full story here.

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11Apr/12Off

Harris Wins Annual Business Plan Competition

Five teams of undergraduate students competed in the annual Belmont Student Business Plan Competition sponsored by Baker, Donelson, Bearman, Caldwell & Berkowitz, PC.  The event was held on March 16 in the Massey Boardroom.  Senior Jerell Harris won first place and earned $5,000 and the title of “Outstanding Student Entrepreneur of the Year” for his business plan for QuickMed, a medical waste management company whose primary service consists of collecting, transporting, and processing medical waste.

“The entrepreneurship program has helped me tremendously. I have learned how to listen to complaints within a market and develop products or services based on those criticisms. In addition, the course has taught me how to make necessary pivotal steps that will help my reach my growth targets. Above all, I have learned how to manage my company as it goes through various life cycles,” said Harris, who is studying entrepreneurship.

Jonathan Murrell and Moriah Nogoy took second place and $2,000 for their Candy Galaxy business plan. Julia Cecere earned $1,000 for Cool Candy & Beverage Company. Other finalists included George Livingston and Ian Raffalovich for Sweet Meat Jerky, Seth Whiting for Map My Views and Michelle Keil for Nava Salon. Each of the entries was for a real business venture that is currently operating or that is in the planning stages to be launched.  Numerous students submitted written plans and the top six were given the opportunity to present their ideas to a committee of judges consisting of Belmont Entrepreneurship Alums and business leaders from the Nashville community.

“This was by far the most competitive group of applications and finalists for the presentation that we have ever had in this event.  The outside judges were blown away by the work our students are doing,” said Director of the Center for Entrepreneurship Jeff Cornwall.

10Apr/12Off

College of Business Administration Maintains Prestigious AACSB Accreditation

The College of Business Administration at Belmont University is proud to announce maintenance of business and specialized accounting accreditation by AACSB International – The Association to Advance Collegiate Schools of Business. Founded in 1916, AACSB International is the longest serving global accrediting body for business schools that offer bachelors, masters and doctorate degrees in business and accounting.

Dean of the College of Business Administration Dr. Pat Raines said, “Belmont’s AACSB International accreditation sends a message to students, parents, faculty, employers and other schools that Belmont has one of the best business schools in the world. Only 178 institutions worldwide have earned AACSB accreditation for both their business and accounting programs. Maintaining this accreditation demonstrates that Belmont’s business and accounting programs are performing at the highest levels of quality, rigor and relevance.”

Belmont is part of an elite group of institutions—less than five percent of the world’s business schools—to have achieved business accreditation from AACSB International. Even more impressive, less than one percent of institutions have achieved both business and accounting accreditation.

Read the full story here.

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5Apr/12Off

SIFE Team Wins Seventh Regional Title

For the seventh year in a row, Belmont Students in Free Enterprise team won the regional competition in its league and will be moving on to the National Exposition in Kansas City May 22-24. The event was one of 11 throughout the United States held in March and April.

Students Katherine Richardson, Eric Taft, Hilary Hambrick, Ayesha Ghaffar, Brennon Mobley, Michael Kattman, Andrew Bishop, Kelsey Bright and Rami Nofal played instrumental roles as presenters and/or project leaders this year in the fashionABLE, Spring Back, Be a Blessing and Philanthroteach projects.

SIFE is an international organization that mobilizes students around the world to make a difference in their communities while developing the skills to become socially responsible business leaders.

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28Mar/12Off

U.S. Bank Chairman Shares Views on Ethics at Belmont

Richard K. Davis, chairman and chief executive officer of U.S. Bank shared his views on the importance of regulating ethical business behavior with Belmont students, faculty and Nashville business leaders on Monday, March 26.

Davis began his campus visit with a convocation lecture titled “Business Ethics & Responsible Banking Today” presented to students in Beaman A&B.

“Ethics can be learned now. What I can’t drill into your head is when a lot of people are doing little things wrong, you will want to draw the line on when it will end. You can draw the line in the sand now that you will adhere to as you begin practicing business,” he said.

Davis emphasized the need to create a business culture with consistent values and regular audits as the cornerstone to long-term success. He encouraged government regulation on ethical business practices, such as shareholder access and whistleblower incentives to promote honesty, integrity and transparency. He also summarized the evolution of corporate responsibility from 1919 to the present.

“Making money is not a bad thing, because capitalism is what got America where it is today, as long as you do it the right way with honesty,” Davis said.

Read the full story here.

26Mar/12Off

SIFE Finalist For 2012 Strobel Award

Belmont University Students in Free Enterprise are 18 among finalists for the 26th annual Mary Catherine Strobel Volunteer Awards.

SIFE is up for the Civic Volunteer Group Award, which recognizes representatives of civic, membership, congregation or non-corporate groups that volunteer together for a cause. Belmont SIFE works with local, national and international community partners to develop ethical and environmentally sustainable business models that create lasting economic and social change. Now in its seventh year of existence, Belmont SIFE has more than 40 students involved and has partnered with numerous Nashville organizations, including 147 Million Orphans, African Leadership and Magdalene/Thistle Farms.

Oasis Center – Middle School Teen Outreach Program and The Patient and Family Advisory Councils at Vanderbilt University Medical Center are the other finalists for the category. Hands On Nashville will announced the winners of six categories for outstanding volunteer in Middle Tennessee ceremony at the Marriott Cool Springs Conference Center in Franklin on April 10.

HCA/TriStar are presenters of the annual event, founded by Ford Motor Company. Some 105 individuals and organizations were nominated this year for the Mary Catherine Strobel Volunteer Awards.

The Mary Catherine Strobel Volunteer Awards are named in memory of the late Mary Catherine Strobel, known for her extensive and charitable efforts toward improving the lives of Middle Tennessee’s homeless, impoverished and less fortunate populations. The annual awards ceremony celebrates Strobel’s service and recognizes those who continue her legacy.

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26Jan/12Off

Schenkel Honored with Entrepreneurship Award

Associate Professor of Entrepreneurship Mark Schenkel recently received the United States Association for Small Business and Entrepreneurship (USASBE) President’s Award for Outstanding Service. The plaque is in recognition for his outstanding leadership and service serving as senior vice president of operations and planning on the USASBE Board of Directors.  The award was presented on Jan. 15 during the 26th annual USASBE conference in New Orleans, Louisiana. USASBE is the largest independent academic organization in the world dedicated to advancing the discipline of entrepreneurship.