MBA – The Citadel Today https://today.citadel.edu Wed, 25 Mar 2020 19:33:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.7 https://today.citadel.edu/wp-content/uploads/2018/06/Citadel-Favion-new-150x150.png MBA – The Citadel Today https://today.citadel.edu 32 32 144096890 Part-time or online, The Citadel’s MBA program is one of the best in the nation https://today.citadel.edu/part-time-or-online-the-citadels-mba-program-is-one-of-the-best-in-the-nation/ Tue, 24 Mar 2020 21:29:53 +0000 https://today.citadel.edu/?p=14951 When it comes to its online and part-time Masters in Business Administration programs, The Citadel is one of the best in the biz.]]>

Photo: Dr. Kwangsoo Lim teaching a Citadel MBA course in January 2020, before the campus was closed in response to COVID-19

When it comes to its online and part-time Masters in Business Administration (MBA) programs, The Citadel is one of the best in the biz.

The Citadel is now accepting applications for both of these top-rated programs.

According to the U.S. News & World Report, the Tommy and Victoria Baker School of Business has one of the best part-time MBA programs in the country. This achievement comes just after the same publication named The Citadel’s online MBA program as one of the best, as well.

Together, these two options make for an adaptable — and convenient — course of study.

Jeremy Bennett, Ph.D., Jeremy Bennet, director of the business degree completion program at The Citadel
Jeremy Bennett, Ph.D., director of the business degree completion program at The Citadel

“Whether it’s something that affects everyone, like the Coronavirus, or something that only affects one person, like moving to a different city — our students are at an advantage,” said Jeremy Bennett, Ph.D., director of the MBA program. “They’re able to leverage the fact that The Citadel has two top-rated MBA programs — one in-person and the other online. If, for whatever reason, students are unable to take face-to-face classes, they have another top-rated program to choose at the same institution.”

Some of the advantages of an MBA from The Citadel include developing essential management and leadership skills that are immediately applicable for students who are working professionals. Additionally, the same expert faculty members who teach on campus teach the online students.

The college began offering a fully online MBA program in 2016, and has risen rapidly to be considered one of the best part-time and online programs in the country.

The annual U.S. News & World Report rankings are based on a combination of average peer assessment score, average GMAT and GRE scores of entering students, average GPA of part-time students, the part time students’ number of years of work experience, and the ratio of full-time to part-time students. For an online program, the methodology is based on a combination of engagement, expert opinion, student excellence, faculty credentials and training, and services and technologies.

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A Father’s Dream https://today.citadel.edu/dave-pawlowski-mba-student/ Thu, 25 Jul 2019 19:53:47 +0000 https://today.citadel.edu/?p=9594 Dave Pawlowski, Citadel MBA grad, owner of MethodRideDave Pawlowski, Citadel MBA grad, owner of MethodRideReflecting upon his childhood outside of New York City, Dave Pawlowski immediately recalls the work ethic of his father—a successful entrepreneur in the finance sector. “I watched him wake up]]> Dave Pawlowski, Citadel MBA grad, owner of MethodRideDave Pawlowski, Citadel MBA grad, owner of MethodRide

Reflecting upon his childhood outside of New York City, Dave Pawlowski immediately recalls the work ethic of his father—a successful entrepreneur in the finance sector. “I watched him wake up very early each day to catch the train into the city and saw how hard he was working for our family.  And after years and years of hard work, it finally paid off.  Watching him do that was very inspiring. I always looked up to him.”

Pawlowski dreamed of following in his father’s footsteps—his heart set on starting a family business.  “It was difficult to mimic my father’s success. I had no idea where to even begin.”

Then Pawlowski found The Citadel MBA program.  

Pawlowski and his wife Meg were new to Charleston with a young daughter and another baby on the way.  He was working full time from home and ready to start a business.  The Citadel’s MBA program was flexible— Pawlowski took coursework in the classroom and online and built his schedule around work travel, his daughter’s dance classes and the birth of his second daughter.  He completed the program in 2018, incorporating courses in entrepreneurship along the way. 

“The greatest takeaway from the MBA program was the sense of confidence it instilled in us to go our own way and create our own business.  I was able to apply those classes directly to the business we were running.”

The Pawlowskis are the proud owners of MethodRide, an indoor cycle studio located in Mount Pleasant. The studio’s goal is to transform the body, mind and soul with a challenging workout in a positive, candlelit room. Unlike many other fitness studios, MethodRide provides childcare for its members.

Meg provides the creative vision—the branding, methodology and atmosphere. Pawlowski provides the technical knowledge on the back-end—monitoring cash flow, accounting, marketing, taxes—all skills he learned at The Citadel.    

“The Citadel MBA gave me the business insight I did not have.  We didn’t know what we were doing in terms of budgeting and marketing. We knew what we wanted the business to look like in our head, but the nuts and bolts and mechanics of that—The Citadel absolutely provided those skills, and helped us avoid major pitfalls along the way.”

Not advertised in the MBA program description was the benefit of the degree to his family life.

“Being able to see my family every day as part of my professional life is not something I take for granted. Some of my favorite moments are when we pick the kids up from daycare and sit down for a snack together at home. It’s always chaotic, but we love being together, and laughing together.  Being a father has changed everything. My will to succeed isn’t just for me anymore—it’s to provide for a future for other people.” 


To view more student and cadet stories, visit mighty.citadel.edu.


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The hidden value of a technical college degree, from associate degree to MBA https://today.citadel.edu/technical-college-degree-bachelor-mba/ Mon, 01 Oct 2018 15:38:53 +0000 https://today.citadel.edu/?p=3854 instructor handing a man his diploma while shaking his other handinstructor handing a man his diploma while shaking his other handAfter completing your associates and bachelor’s degrees many students continue onto graduate education.]]> instructor handing a man his diploma while shaking his other handinstructor handing a man his diploma while shaking his other hand

Technical and Community College Degrees

Technical and community college degrees are often the best or only available entry point into education for a large number of people either directly
out of high school or later in life. Whether it is an Associate of Arts (AA), Associates of Science (AS) or an Associates of Applied Science (AAS) these degrees can be extremely valuable and cost effective. Technical and community colleges can also offer a high standard of instruction and tend to be cheaper than their four-year school counterparts. The value of a community college degree are fairly well understood, but the hidden values of a technical college degree can be worth even more to the right students.

Associate of Applied Science (AAS)

Students who are interested and have the opportunity of going to a four-year can find it to be very rewarding, but for those trying to get into
the workforce quickly, in a well-paying job, a technical college applied education might be the best path. These programs are aimed primarily at students seeking practical, career-focused education. This focus can be in accounting, logistics, healthcare, construction, marketing or a multitude of other exciting fields. These programs tend to offer a more flexible schedule, work better for older and working students and include hands on training. Your local college, whether a technical college or community college, is able to focus in on jobs in which there is a growing shortage of workers to meet the workforce demands of their area. Because of these shortages, some states are even offering grants to people going to technical colleges in certain professions. Due to their focus on their local community, technical colleges will also know be able to better advise which degrees and certificates are the most valuable in your particular area and can help steer you to a path that intersects what you want to do with what will make you money.

Transferring your Technical and Community College Credits

Credits earned at an accredited technical college can transfer to a four-year university. Many high ranking schools like The Citadel have taken
notice of the drive of associate degree students and have offered bridge or 2+2 programs to their bachelors programs. These programs allow students to complete their bachelor’s degrees while working after earning their associates degree without missing a beat. If you are planning on transferring, you should talk to your advisor from the start to make sure you’re taking the right courses. You should also look at the transfer equivalency charts for the school(s) you are interested in transferring. Many four year programs will favor students who have an associate’s degree in a related topic, as those students have already demonstrated that they have the knowledge and drive to complete a degree. The journey does not have to stop there. After completing their associate and bachelor degrees many students continue onto graduate education.

Associates to Bachelors to Masters to Doctorate

Technical and community college programs are a great way of getting into the workforce, but can also be a stepping stone toward a bachelor and
graduate degrees later in life. In terms of staying out of debt, this route can end up saving students a ton of money in a world where student loans continues to reach new heights. I have personally worked with many associate degree holders who made the next step to their bachelor degree and are currently on their way to earning their MBA. The sky is truly the limit as long as you start with a good foundation and keep pushing.

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What is the Economic Impact of Tariffs? https://today.citadel.edu/impact-of-tariffs/ Wed, 19 Sep 2018 17:37:24 +0000 https://today.citadel.edu/?p=3742 scattered amounts of different currencyscattered amounts of different currencyThe United States suddenly finds itself contemplating what might happen with international tariffs. What kind of impact will this have?]]> scattered amounts of different currencyscattered amounts of different currency

The United States suddenly finds itself in the middle of a vast international kerfuffle about international trade barriers and tariffs apparently arbitrarily imposed to increase the cost of imported goods. Where did this come from? What will the impacts be?

Imposition of Tariffs

The economics of trade embargoes like this are puzzling. Suddenly at the end of August 2018, a curtain went down at ports of entry all over the United States and the price of dozens of Chinese imported goods went up a total of $16 billion. The administration of President Trump began announcing tariffs on imports from countries all over the world, most of which have been economic and political allies. From the first speeches of President Trump’s 2016 campaign, he had complained that other nations were not treating the United States fairly in trade arrangements. The tariffs are designed to punish other countries by increasing the production and consumer cost of imports and reduce the costs of domestically produced goods.

Canada, Brazil, South Korea, Russia, and Mexico will be most affected by the new trade tariffs of 10% on Aluminum and 25% on steel, according to news sources. Canada will be most affected because 16% of the steel used in the US is imported from Canada.

The Politics Behind the Tariffs

The tariffs on steel were part of Trump’s election promise to revive the American steel industry by reducing foreign competition. The action was justified out of supposed security concerns after a Department of Commerce study of the national security risks of current levels of importation of steel and aluminum if the US were to have to “default on its own production.”

Key allies attacked the tariff move, saying that their countries’ imports pose no national security threats to the US because of long-standing political alliances. Chrystia Freeland, Canada’s foreign minister echoed that sentiment saying, “It is entirely inappropriate to view any trade with Canada as a national security threat to the United States…”

Foreign imports of steel from a total of 10 countries constitute nearly eighty percent (78 %) of the steel used in US manufacturing. Although Trump specifically mentions China as a target of the tariffs, China will be less affected than most nations since it is not among the top 10 importers.

The Risk of a Trade War

A Trade war is one of the potential international impacts of arbitrarily imposed tariffs. Already, many countries including Canada and the European Union have vowed to retaliate by imposing targeted tariffs on US imported commodities. The European Union is looking into imposing import taxes on US bourbon, orange juice, motorcycles, and other agricultural products as retaliation. Trade war means that tariffs could be imposed on imports all over the world, increasing costs and driving up prices on key imports (typically imports that cannot be replaced immediately by domestic industry). This could seriously disrupt the international trading system. China is said to be considering retaliatory tariffs on US soybeans (a $12.4 billion dollar business).

What Does it Mean for Business?

President Trump’s stated intention was to rebuild American business he said was affected by unfair international trade. However, not only are the intended targets affected by a trade war, but there is collateral damage as well. Already a review of corporate earnings suggests there are many times the number of large global companies being hurt by the intensifying trade disruptions than those being helped. There is some evidence that the tariff policy is helping the US steel industry as intended. Steelmakers are apparently increasing production, which helps the railways which haul steel and ore.

The customers of the steel industry are not doing as well. Big buyers of steel like Caterpillar say it is preparing for $200 million dollars worth of tariff-related extra costs. General Motors, Harley-Davidson and a host of other companies say that tariffs are cutting into their profits and forcing them to raise prices. The retaliatory tariffs from American export customers have not yet been felt. For many businesses that use imported products, the cost to produce their items will increase.

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Cultural Fluency and Successful Negotiations https://today.citadel.edu/cultural-fluency-and-norms/ Mon, 03 Sep 2018 17:31:22 +0000 https://today.citadel.edu/?p=3601 businessman working with Japanese business women on an important projectbusinessman working with Japanese business women on an important projectMore and more business are interacting with companies across the globe; meaning cultural fluency is becoming an important asset in every formal relationship]]> businessman working with Japanese business women on an important projectbusinessman working with Japanese business women on an important project

In a globalized economy more and more business people in America are communicating with organizations and companies from different parts of the world, and as such you should be aware of how social interactions and communication norms vary from country to country. Avoiding social faux pas and understanding expectations gives you a significant advantage when dealing with foreign colleagues and potential clients. Here are some simple tips you can add to your skillset:

Tips for Increasing Your Cultural Fluency

Notice Your Personal Bubble

In the United States, we like our personal space and generally stand about 18 inches away from other people during conversation. In Latin American cultures, as well as India, you will find that gap is much smaller. To ensure your conversation companion feels comfortable in these cultures, you should be aware of the space and try to stand a little closer than you would normally in the US.

Be Comfortable with Silence

Here in the US, we may feel uncomfortable when the conversation lulls, especially in the company of business associates when time and efficiency of communication are vital. In some Asian cultures like China, however, silence is seen as natural and polite, a time for contemplation. When collaborating with people from China, do not feel compelled to always fill the silence, or your contacts may see you as impolite, brash, and impulsive.

Body Language

Any good business person knows that body language (how we physically present ourselves) is key in any business transaction, but the cues you have adopted for American negotiations may not translate well in other countries. In the United States, for example, we favor a moderate amount of eye contact, some but not too much. Whereas in many Middle Eastern cultures, you will notice that people want more direct eye contact, especially during a business transaction. Here in the United States we are also more physically reserved, preferring less body contact, but in some European countries, especially Italy, you will find that business people are more open and physically expressive. You may see a similar dynamic in some Latin American countries such as Mexico, and some Asian countries like Taiwan.

Dining Etiquette

We all know that important business negotiations often happen over a meal, which means you should be aware of the different dining customs that exist in other cultures. In Sweden, for example, you should always look into the eyes of the person receiving the toast and say skohl, whereas in Russia you should not start imbibing until the first toast has been offered. Did you warm up your singing voice before the meal? In South Korea, you may be expected to sing karaoke after dinner.

Why Cultural Sensitivity is so Important

These are just a few of the communication and social norms you should consider, and the norms you adopt for a transaction will vary from region to region. Cultural sensitivity may seem like a nice idea, but does it actually make a difference in practice? Countless studies have shown that effective communication practices lead to a greater level of success for businesses, while poor communication often results in wasted time, lost profit, and missed opportunities. Being aware of and sensitive to cultural differences makes you a more versatile and competitive negotiator, and here at The Citadel, we can help you improve your cultural fluency to prepare you for the unique and exciting challenges the modern business person must face.

The Citadel MBA program offers the critical thinking and leadership skills you need to thrive in a global economy. Offering a balance of real-world experience and academic rigor, we prepare our students to be successful and innovative leaders. Our flexible course schedule is tailored for working professionals and active-duty military, and our faculty brings a level of expertise and insight you will not find in other programs. Start planning your future today.

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6 Networking Opportunities for Young Professionals https://today.citadel.edu/networking-opportunities-young-professionals/ Mon, 20 Aug 2018 20:35:34 +0000 https://today.citadel.edu/?p=3483 An overhead view of a networking event for young businesspeopleAn overhead view of a networking event for young businesspeopleIt can be pretty easy to build a considerable network if you are simply diligent in the task of attending these networking opportunities.]]> An overhead view of a networking event for young businesspeopleAn overhead view of a networking event for young businesspeople

Networking is a vital part of career advancement for several reasons. For starters, it offers more contacts, each of which comes with their own unique skill set. It also gives you a larger pool of resources to pull from and more people to exchange ideas or knowledge with.

Finding these valuable contacts is not as difficult as many would think. In fact, it can be pretty easy to build a considerable network if you are simply diligent in the task of attending these networking opportunities.

The Best Networking Opportunities for Young Professionals

1. Industry Events

Industry events are the perfect networking opportunities to meet with other business professionals in the real world. Contacts created in-person can be much more personable than those met with online, despite online networking being significantly easier. To find events near you, check out MeetUp and EventBrite.

2. LinkedIn

LinkedIn is the ultimate social media platform for budding young professionals. Unlike other social sites, LinkedIn is geared specifically towards professionals, and the profiles created read like resumes. In fact, it can even serve for getting you hired. With over 84 million professionals on the site, LinkedIn is the site to go to for young business people.

3. Facebook Groups

If like most people you already have a Facebook profile, then you can put it to good use. Use the search bar located at the top of your news feed to search for groups pertaining to your industry or niche. You can also join groups for entrepreneurs, local professionals, school alumni, and more.

4. Work

Never discredit the unrivaled power of your coworkers in forming a network. One reason why your coworkers can actually end up being more valuable than other contacts you form is that they can be used as solid references when looking for a new job. Potential employers will place a lot of value on former coworkers because they can attest to your work ethic firsthand.

5. Friends

One very simple way to begin networking is through your friends. Chances are you have a handful of friends who are also in business. Even if they are not in the same industry or sector as you have chosen to be, they can still be helpful. Friends can also introduce you to their friends, who can introduce you to their friends. This is essentially the networking equivalent to word-of-mouth advertising.

6. School

Like work and friends, many young professionals fail to realize the vast networking opportunities they are presented with at school. Your classmates are working towards similar goals. Although they may not be important or high up in any companies right now, they could be later. It isn’t only your peers who could begin your network at school, but also teachers and other staff members.

Additional Networking Tips

The idea of attending networking opportunities can be a frightening one because it means you must reach out to strangers. In a very real way, you are marketing yourself to others. To this effect, you always want to market the best version of yourself to potential contacts. Here are a few tips to keep in mind when doing so.

  • Always be polite and honest in your dealings with others.
  • Put your best foot forward at all times – you never know when a potential contact will show themselves.
  • Be friendly and open. This can be difficult for naturally shy individuals, but with practice, it gets easier.
  • When going out in public, always be well-groomed. This includes cleaning beneath your fingernails and keeping facial hair trimmed.
  • Be willing to help others as much as you wish them to help you.
  • When you make a contact always connect with them via social platforms when possible. If they have LinkedIn, this is the preferred method.

Learn More About Networking at The Citadel

While we’ve laid out six great networking opportunities along with some networking tips in this post, there’s still so much more to being effective at this crucial piece of business! To learn more about networking and other activities essential to business, consider pursuing an online MBA from The Citadel. Our online classed provide the perfect platform for you to learn about business while maintaining your busy schedule.

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Legal Issues When Hiring and Conducting Job Interviews https://today.citadel.edu/legal-issues-hiring-job-interviews/ Wed, 15 Aug 2018 13:06:46 +0000 https://today.citadel.edu/?p=3348 smiling young executive sitting at his desk preparing for job interviewssmiling young executive sitting at his desk preparing for job interviewsIt is of vital importance you know what can or cannot be said during the process of conducting job interviews]]> smiling young executive sitting at his desk preparing for job interviewssmiling young executive sitting at his desk preparing for job interviews

Fair hiring laws were enacted to ensure all qualified candidates receive an equal opportunity for job acquisition. These laws state that hiring an individual based on their age, gender, sexual orientation, or ethnicity is illegal and punishable by federal regulations.

Unfortunately, it isn’t always a matter of an ill-meaning employer or hiring manager purposefully excluding a potential employee. Sometimes a person may either misunderstand something which is said or become angry when they do not get the position and try to file a claim with their local FEPA (Fair Employment Practicing Agency).

To avoid this from occurring it is of vital importance you know what can or cannot be said during the process of conducting job interviews. Here are the primary ways you can avoid adverse legal action.

Everything Must Pertain to the Position

Any interview questions or requirements must pertain to the position you are hiring for. The sexual orientation or ethnicity of an applicant is obviously irrelevant, but other items may also be. Asking these other questions could be misconstrued, dependent upon what you are hiring for.

For example, you could face adverse legal actions should you ask a potential secretary whether she is physically capable of lifting over 100 pounds regularly or if she has a forklift license. Neither of these is necessary for the basic job description. You would be within legal rights to inquire upon her typing skills and whether she is competent in certain computer programs utilized by your business, however.

Offer Assistance Within Reason

If a person has a disability or medical condition which has the potential to affect the way they perform their job, you must be willing to offer a reasonable amount of assistance. You must also be willing to listen to how the applicant intends to perform the job requirements.

For example, you are NEVER able to ask questions like “How long have you been in a wheelchair?” or “Do you really think you can do this job with a cane?” during job interviews. What you should be asking instead is how the applicant intends to perform the necessary tasks. You may be surprised to find that the applicant poses significant upper body strength or is able to stand alone for short periods.

Physical Comments Are Not Allowed During Job Interviews

Anything which could be construed as sexual harassment is strictly off limits – not only during the hiring process but at any time. Asking a potential applicant for sexual favors, making mention of their sexual organs, or obviously hitting on them are all off limits. It is important to note that any comments remarking upon a person’s physical appearance are disallowed.

The following comments may seem benign, but they cannot and should not be said during the interview process:

  • “Wow, you’re really strong.”
  • “You have big muscles.”
  • “I notice that you are built for [this job, this task, etc.].”
  •  “You look like [person, thing, etc.].”
  • “You don’t look like you can do that.”
  • “You don’t look like you would be a good fit.”
  • “You look very nice [or pretty, beautiful, handsome, etc.]”

Avoid Taboo Topics

On a final note, it is of the utmost importance you avoid all socially taboo topics during any job interviews. Even a small hint or question could skew the entire interview process or give applicants the potential to file a claim with their local FEPA.

Taboo topics might include personal choices, such as political affiliations, sexual orientation, religious denomination, or abortion. Other socially taboo topics in the United States include arranged marriages, female fertility, alcohol consumption, prostitution, pedophilia, polygamy, or incest.

A good rule of thumb is that if you wouldn’t say it to your grandmother – or would feel embarrassed conversing with her on that topic – do not say it in an interview.

Learn More About Running a Business at The Citadel

When it comes to running a business, finances, customer service, and the supply chain aren’t the only things you’ll have to manage! Knowing how to hire employees and conduct job interviews is another important piece of the puzzle.

To learn more about running a business, consider getting an online MBA from The Citadel. Our online courses are flexible and taught by some of the best professors around so that you can get a quality education on your schedule!

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The Economics of College Sports: How Does College Football Make Money? https://today.citadel.edu/economics-college-sports-college-football-make-money/ https://today.citadel.edu/economics-college-sports-college-football-make-money/#comments Mon, 30 Jul 2018 19:48:28 +0000 https://today.citadel.edu/?p=3191 college football player attending a team practicecollege football player attending a team practiceThe top college football teams in the US can make their respective schools a very large sum of money - here's how.]]> college football player attending a team practicecollege football player attending a team practice

Many people love watching college football on the weekends or going to support their team during big games. What few fans realize, though, is how lucrative college football can be for their respective university. The top football teams in the US are some of the most profitable collegiate entities in the world today. So, the real question remains: how profitable can college football teams be?

The answer varies depending on the team, but the answer is that the top 24 teams in at Universities in the US can gross their athletic department over $100 million per season.

So, now that we’ve answered that question, a new one becomes apparent: what are the sources of revenue that contribute to the profits college football teams make?

The answer is that there are several different keys to the revenue that a top Division I college football team can bring in. The following are some of these sources of revenue and how they play into the team’s overall ability to bring revenue into their athletic organizations:

Ticket Sales:

Ticket sales easily lead the way as the largest money-maker for top grossing college football teams in the US. The National College Athletic Association (NCAA) reported that over $1 billion worth of football tickets were sold between September 2016 and August of 2017 alone.

Tickets for top Division I college football teams are pricey, and die-hard fans are willing to pay the price to see their favorite team in action. Reports state that the average football ticket to a top Division I game runs between $100 and $450 depending on what game you want to go see.

Considering the average NFL ticket runs around $90, it’s easy to see how these universities make millions off of sold-out games alone.

Athletic Apparel:

Many fans will go out and buy athletic apparel to show their support for their favorite college teams. While individual players do not get paid for their jersey sales, a portion of the sales do go back to their respective athletic clubs and are counted as revenue for the entire program. Athletic apparel for the largest and most supported teams can be a significant source of income for the university’s athletic department.

TV Contracts:

While TV contracts with channels that broadcast football games are not as huge of a source of revenue as many people may like to think, that’s not to say that TV contracts don’t bring in some money for college football programs. Many channels show games from some of the biggest programs throughout the season. Just with the guaranteed games that are shown throughout the year, over $150 million will be headed for school’s pockets. Around $70 million of that is to be paid near the beginning of the season. These sums of money include more than 200 contracts for games that will be televised throughout the season. The average game payouts run between $150,000 and $1.65 million depending on the teams playing and how “big” the TV ratings are expected to be for that specific game.

The Bottom Line – College Football is a Huge Source of Revenue for Universities

In conclusion, the top college football teams in the US can make their respective schools a very large sum of money. The athletic programs of each school own all that money and can use it as they see fit. From paying coaches and staff to offering scholarships for players to help them get educations, each athletic program will spend the money that their football programs bring in. In the end, it’s safe to say that football is still the most lucrative college sport the universities can offer.

Are you interested in learning about other intriguing topics related to business and economics but don’t have the time to attend classes in-person? Then the online MBA offered by the Citadel is perfect for you! Please contact us today to learn more about our online business program.

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Business Leaders of the Internet of Things https://today.citadel.edu/business-leaders-internet-of-things/ Wed, 25 Jul 2018 17:15:01 +0000 https://today.citadel.edu/?p=3001 businesswoman interacting with the internet of things on a large graphical interfacebusinesswoman interacting with the internet of things on a large graphical interfaceHere are some of the key businesses which are developing fascinating innovations in the Internet of Things.]]> businesswoman interacting with the internet of things on a large graphical interfacebusinesswoman interacting with the internet of things on a large graphical interface

The Formation of the Internet of Things

Technologically, the world of today is vastly different from the world of 20 years ago and even 10 years ago. Advancements and developments in technology continue to spread like wildfire and are changing the way we live our daily lives. The birth of the internet from the basic action of connecting two computers together to “communicate” with one another in 1969 has led to unimaginable innovations in which technology plays a central role in every action of daily life. This is becoming more true as companies begin to invest in the Internet of Things (IoT), or the connection of operational devices with the internet.

What is the Internet of Things?

The term “Internet of Things” was first coined by Kevin Ashton of MIT in 1999. The “things” referred to in this term can be any tangible object or living thing that has a unique identifier which can transmit data over a network. Some examples of these things could be pets with biochips, a car with sensors that transmit information about the functioning of the vehicle, or the fitness watches one wears while working out.

According to Business Insider, IoT is being developed in three distinct fields: consumer, enterprise, and government. In the area of consumer IoT, smart homes and personal health solutions are gaining ground. Businesses, composing the enterprise segment, are looking for ways to automate and utilize robotics. Finally, the government is developing smart cities which employ connected cameras and meters to collect information and aid in developing appropriate solutions.

It is estimated that over the next five years, that $6 trillion will be spent on IoT with the area of enterprise leading the way. Government will come second, followed by consumers. Business Insider predicts that in 2020 there will be approximately 34 billion IoT devices in use which is up from 10 billion in 2015.

Leading Businesses in the Internet of Things

Which companies are leading the foray into IoT? Who are the leaders with the most experience and the best investment opportunities? Here are some of the key businesses which are developing fascinating innovations in this field:

  • Hitachi offers the Lumada IoT platform, a way to tap into data and develop solutions that will improve business practices and increase efficiency. They offer consultation services to help clients find the best way to use IoT to their advantage and smart cameras and devices for data collection.
  • Honeywell is the current leader in the integration of IoT within the field of manufacturing. They are involved with blending software with physical products with the goal of improving aircraft, vehicles, homes, utilities, and factories.
  • Comcast has rolled out a national LoRaWAN network called machineQ. Comcast, with its extensive network and unique positioning in the United States, is continuing to pursue the development of IoT technology and solutions.
  • T-Mobile launched the first Narrow-band IoT network in the United States. This network helps bring IoT solutions to the market and support new technologies. Their IoT platform, Connect, has allowed them to innovate with companies like twilio, Nokia, and Ericsson.
  • Google offers a service called Cloud IoT Core that helps customers access, interpret, and manage data from devices around the world.
  • Apple has a strong connection with the consumer market. For example, their HomeKit helps individuals collect data and control accessories related to utilities and security in their homes. Consumers can control these aspects with just a touch on their phone, watch or device.
  • AT&T offers an IoT platform which provides the framework on which you can design and develop your own way for devices to connect and communicate with one another.

Learn More About the Internet of Things From The Citadel

These are some of the key players in the field of IoT, but there are many other startups and companies involved in IoT. This technology will continue to develop and has the potential to greatly change our lives.

Do you want to learn more about the Internet of Things and how it’s impacting the world of business? Online courses from The Citadel MBA provide you with the opportunity to do just that! Please contact us to learn more about how our Online MBA program can teach you the ins and outs of what it takes to succeed in business in today’s ever-changing world.

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How Tax Incentives Have Influenced America’s Most Popular Filming Locations https://today.citadel.edu/tax-incentives-influenced-americas-most-popular-filming-locations/ Tue, 17 Jul 2018 18:42:44 +0000 https://today.citadel.edu/?p=2643 movie filming location on the river of a nearby citymovie filming location on the river of a nearby cityThese cities know that tax incentives pay off, figuratively and literally, when it comes to film production!]]> movie filming location on the river of a nearby citymovie filming location on the river of a nearby city

When we think of popular filming locations for movies and television, we think of California. It’s the home of Hollywood and all the major studios, and it’s a deeply ingrained association. We also often think of New York, with so many famous films taking place in that city.
But the truth is, those locations are expensive and difficult to film in, and often studios seek to shoot their films elsewhere! Film production is big business, with different states competing to lure productions to shoot in their borders using tax incentives. Here are some of America’s most popular filming locations that aren’t what you would expect:

Washington DC

It’s no surprise that our nation’s capital is an incredibly popular place to set a film, but it’s also a great place to shoot a film. With so many iconic locations, Washington DC is an appealing state for filming, and the state offers some sweet deal for filmmakers. Washington DC production incentives include:

  • 35% rebate on qualified production expenses subject to in-state taxation
  • 21% rebate on untaxed production expenses
  • 30% rebate on below-the-line resident labor costs subject to in-state taxation
  • 50% rebate on qualified job training expenditures
  • 25% rebate on production company’s base infrastructure investment

All of this with a low $250,000 minimum spend!

Washington DC production returns are substantial. In 2012, local film production in Washington DC generated nearly $22 million in tax revenues, created 154 jobs, and paid those employees over $8 million in wages and benefits.

Films shot in Washington DC include nearly every action movie with a presidential theme, including Air Force One, Mission Impossible III, Live Free or Die Hard, XXX: State of the Union, Captain America: Winter Soldier, and two Transformers films. Some more surprising films shot in Washington DC include Borat, The Exorcist, and Wedding Crashers.

Illinois

Believe it or not, Illinois is also a popular filming location, even outside of Chicago, which often makes a less expensive double for New York. The rest of the state has the appealing look of middle America. Illinois offers generous production incentives like:

  • 30% tax rebate on qualified production spending, including post-production
  • 30% tax credit on Illinois resident salaries up to $100,000 per year
  • 15% additional tax credit on wages over $1000 for residents living in economically disadvantaged areas

The minimum production spend is just $100,000.

2017 was a booming year for production in Illinois, particularly for the women and minorities that made up 53% of hires on 347 television, film, and commercial production in the state. In 2017, the state saw $423 million in film revenues and got nearly 14,000 production jobs. The state has served as the location for iconic films like Field of Dreams, In the Heat of the Night, and A Nightmare on Elm Street, and more recent hits like Gone Girl, Suicide Squad, and Divergent.

Washington State

Washington state is another surprising filming location. But the state offers a diversity of environments, from deep forests to wild beaches to the distinctive skyline of Seattle, and offers a generous production incentive program to boot. Washington production incentives include:

  • 30% tax credit for film production expenses, and 35% for television series’ with six or more episodes
  • 15% tax credit for non-resident labor costs, if 85% of the crew are state residents
  • State sales tax exemption on rental equipment, services, and vehicles
  • Hotel/motel tax exemption for 30-day stay
  • Seattle filming permit just $25/day including city-owned property

Qualifying production budgets are $150,000 for commercials, $300,000 for episodic series, and $500,000 for film production. Productions must also comply with a code of conduct.

In the past 10 years, the production incentive program has brought an estimated $116 million dollars in direct spending in Washington, for just a maximum $3.5 million/year annual investment. Washington is perhaps best known as the filming location for Twin Peaks, but was also the setting for the vampire hit Twilight, and has been a dystopian wasteland more than once, in The Road and The Postman.

Conclusion – Tax Incentives in Film Production Pay Off!

As many states are learning, incentives alone won’t guarantee a successful local film industry. After several years of offering ever-more-competitive incentives, many states simply weren’t able to lure film production based on incentives alone, and many are scaling back their programs in recent years. In order for a state to be a good film location, it needs the right visuals, the right local talent pool, the right infrastructure, end even the right incentive package for productions!

The states that get it right realize that film production offers huge benefits: a surge in spending at local restaurants, hotels, catering companies, vehicle and equipment rentals, as well as hundreds or even thousands of highly paid, highly skilled (albeit temporary) jobs. Tax incentives pay off, figuratively and literally, when it comes to film production.

Learn More at The Citadel

Are you interested in learning more in an environment where your business classes actually apply to the real world? Contact us today to learn more about earning an online MBA at The Citadel!

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