Sunday, September 27, 2009
The Value of College
Now, on to me thought for today. Actually, it started on Friday when the chairs of all the academic departments of the university got together for a meting with President Cole. One of here themes was persistence to graduate--meaning the graduation rate--of undergraduates. An amazing statistic, only 66% of entering freshmen graduate after 6 years! That's about the national average. (Sorry, no graduate statistics available, but I imagine they are quite higher.) After six years in college, almost no one graduates.
Today I read in the NY Times that the value of undergraduate education in terms of median salary per year is about $20k MORE for college graduates than high school graduates--$47k for college grads vs. $27k for high school only grads. Do the math and $20k more per year over a 30+ ear career and it runs into a few bucks--perhaps enough for early retirement, a house at the beach, or whatever other indulgence you like. Even including the cost of college, it's a really good deal!
So, I'm wondering why 1) students wouldn't try to get out sooner to get the extra salary and, more critically, 2) what it might be that derails 34% of the students from ever getting a degree. I'm also wondering what I can do to help students be more persistent to a degree. In my classes I've tried being kind, being mean; being demanding, being laisse-faire; having stretch goals, having almost no class hurdles. Still, I can't say any one thing has worked over another. I still have 2-3 students who fail my class every semester. I'm not proud of that. In fact, it pisses me off (okay, I'm a little less professional here) when the truth is that if you try--hand in anything--you'll get some credit. I've found that these students who failed generally did not do the work; it was not because they did the work badly.
So, I ask again, what can I do to help my students graduate in 4 or even 6 years?
Saturday, September 12, 2009
Your Brand
I was in a meeting the other day with a consultant who is helping the SBUS with its brand. In this case, we probably have one, but it is unclear, not well known, changing, and not very leveragable in terms of attracting students or prospective employers of our students. We are not Harvard, Warton, or Darden. But, we are known--at least in the region. The question is, what are we known for? Cheap? Quality? Convenient? Value? That's the task of the consultant, to figure out what it should be and plaster it everywhere. Why? Because brands matter. We DO reach for the Budweiser rather than the Rolling Rock as we have been told that Bud is the one to have: it's more refreshing, cooling, and "in" with almost anyone who is, them self, "in." When students are reaching for an MBA or employers an MBA graduate, we want them to reach for us, take Montclair State off the shelf. (I copied a few paragraphs from Wikipedia and pasted them at the end of this blog to give you some intellectual grounding on branding.)
Well, the whole conversation got me to thinking about individual branding--Your brand. What are your attributes? What do employers think about you when your name is mentioned? That mostly depends on how you have branded yourself. You don't think you have? Of course you have by the way you talk, dress, the quality and timeliness of your work, who you hang out with, roles you have played--either personally or at work, and a host of other ways. You see, you and I tag you and that becomes your brand. Part of my brand is a suit and tie (How many of your other professors "dress up?") The executive look is such a part of my brand that a former student made an emoticon of a tie for me that I included with my email address for a few years. I'd be surprised if one of your descriptors of me was not "corporate." Am I right?
Facebook and LinkedIn are brand creators. Readers tag you by what's on your wall, who your friends are, what groups you belong to, etc. My second cousin got nearly 1600 on the SAT (she took it before the scores changed). A near-perfect score and a sure scholarship to Princeton, Harvard, or wherever she wanted to go. NOT! She was rejected everywhere and barely got in to a state school in WA where she lives. I was not at the table where these decisions were made but I did go to her FB page. Surprise, surprise, according to her friends she was a really party girl. If I'm the admissions officer at Princeton do I want a very smart party girl or a student a little less capable that seems a little more serious?
So, here are some questions to ponder:
1. What brand do you want to be? If you're not sure, look around at the colleagues your respect and see what brand they have.
2. What brand do you have a the moment? Ask a friend--not your close friend and definitely not your significant other--what brand they see in you at work or from your social networking sites?
3. Are you satisfied with your brand? Will it get you what you want? Where you want to go?
4. If yes to #3, you're done! Congratulations. If not, you may want to work on your brand a bit. Not all at once, but a little at a time.
Or, maybe you think this branding stuff is a pile of s***. You are who you are and we can take it or leave it. In this case, I have little to say except "good luck!"
_____________________
From Wikipedia:
A product identity, or brand image are typically the attributes one associates with a brand, how the brand owner wants the consumer to perceive the brand - and by extension the branded company, organization, product or service. The brand owner will seek to bridge the gap between the brand image and the brand identity.[3] Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/service. The brand name should be conceptually on target with the product/service (what the company stands for). Furthermore, the brand name should be on target with the brand demographic. [4] Typically, sustainable brand names are easy to remember, transcend trends and have positive connotations. Brand identity is fundamental to consumer recognition and symbolizes the brand's differentiation from competitors.
Brand identity is what the owner wants to communicate to its potential consumers. However, over time, a products brand identity may acquire (evolve), gaining new attributes from consumer perspective but not necessarily from the marketing communications an owner percolates to targeted consumers. Therefore, brand associations become handy to check the consumer's perception of the brand.[5]
Brand identity needs to focused on authentic qualities - real characteristics of the value and brand promise being provided and sustained by organisational and/or production characteristics[6], [7]. Managing the whole organisation to this purpose is called Integrated Marketing.
http://en.wikipedia.org/wiki/Brand#Individual_branding
Friday, September 4, 2009
We're off to a Good Start
Well, I think things went pretty well last night in INFO 503. I believe we set some goals and reasonable expectations, outlined a plan of work, and started to create the kind of atmosphere that will foster the intellectual development of each of us. My thanks to you!
I can't tell you how passionate I am about what I do and how seriously I take my responsibilities. I certainly am not always right in the decisions I make or the ways I choose to communicate them, but I sure as hell try to be. Remember Rodrigo y Gabriella? The point? We each need to do things with passion and a self-imposed criterion of excellence. Anyone can do shoddy work--and likely stay with the masses and their $33k. Working hard and working smart gets one to the 20%---and to the 5% and 3% and 1%.
I saw in most of you the willingness to try out things. That's going to be key to our class. Get intimate with each of the tools we want to evaluate and le the tools speak to you. You'll be surprised that their potential--or lack of--will become apparent.
I'm going to reinstall the RSS feed app. and then write about it so you have some guidance. This would be a good tool to do now so our blogs are pushed to you rather than you having to go to sites and pulling them to your computer. Also, as a way of introducing yourself to the class and finding out about others, this would be a good time to get involved with Facebook and LinkedIn. Be sure to "befriend" me on Facebook and invite me on LinkedIn.
My own experience with FB and LinedIn. I have been at MSU in the MIS area since '96. I have lots of former students with whom I want to continue to communicate. Problem is, as they change jobs or e-mail addresses it became very hard to stay in touch. This summer I se up FB and LinkedIn profiles and began searching for and inviting former students. It's been great so far. I've found many, caught up with their lives, been invited to 2 weddings, and renewed their love for Montclair State. We're even thinking about having our own MIS reunion.
Let me know what you think of my blog.
Dr. P.