.:  NOVEMBER, 2004  
VOLUME 2, ISSUE 11 :.
  

BUSINESS INSIGHT

.: DOES HIGHER PRICE IMPLY HIGHER QUALITY? IT DEPENDS...

   

Anthony Miyazaki
Many consumers want to be able simply to look at a product to determine its quality. If they can't, either because the product is too complex or not at hand, as with tires, computers, or Internet purchases, buyers will look to price to assess the product's worth. Almost 100 studies over the past 30 years have confirmed this behavior. But new research put forth by the College of Business Administration's Assistant Professor of Marketing Anthony Miyazaki takes that theory a step further.

   Miyazaki and experts from Georgetown University and Babson College contend that how consumers consider price as an indicator depends on the presence of other quality factors, like warranty or brand name. If that second factor is not seen as having equal value—such as a limited as opposed to full warranty—or if the product is an unknown brand, the product's quality perception weakens.

   "When the two quality cues are consistent, the consumer trusts them to indicate a particular level of quality," Miyazaki said. "But when they're inconsistent—for example, one is high and the other is low—the cue that indicates high quality is invalidated. This raises important implications for both manufacturers and retailers."

   The findings of Miyazaki's study have been accepted for inclusion in one of the field's four premier publications, the Journal of Consumer Research, slated for publication in 2005.

FOCUS ON ALUMNI

.: CEO SPEAKER SERIES OPENS WITH MAGAZINE EXECUTIVE AND CHILD ADVOCATE.

   South Florida CEO Editor William Plasencia shared the podium to initiate a new breakfast CEO Lecture Series November 11 that his magazine is co-sponsoring with the Business Alumni Chapter. Speaking on "Achieving Success through Community and Media Relations" at the Hyatt Regency in Coral Gables, Plasencia offered his views on heightening community involvement through the media. William Plasencia has served in senior editorial positions with Latin CEO and Latin Finance magazines and a number of other national, regional, and international print and web mediums.

   Also addressing the subject of community relations was brother Jorge Plasencia, co-founder and chairman of the nationally-recognized Amigos For Kids, a volunteer organization for South Florida's abused and neglected children and families. The event was free to Alumni Chapter members with a $20 admission for guests.

.: ALUMNI FUN DAY BRINGS GUESTS TO CAMPUS FOR PRIZES AND PLAY.

From comic book characters that entertained the whole family to royal treatment on a free trip to the Bahamas, the Alumni Fun Day on October 16 offered something for everyone. The first-ever event drew about 80 Business Alumni Chapter members and friends to the south lawn of the Ryder Business Building for a day of activities, attractions, and prizes. At far left, NSHMBA member Rolando Muñoz (BBA '97) looks on as Chapter Secretary Arturo Aviles (BBA '01) and friends tangle with Spiderman.

Craig Kirsner (MBA '04) (on right) kicks back in the Bahamas during the three-day stay at Atlantis Paradise Island, airfare included, that he won at Alumni Fun Day. To view more photos, visit our web site.

   Have exciting news to share? Update your alumni profile at our web site.

.: NSHMBA NATIONAL CONFERENCE-GOERS

Board members from the local chapter of the National Society of Hispanic MBAs (NSHMBA) and Chapman Career Services' Barry Shiflett (second from right) staffed the FIU Welcome Center at the NSHMBA National Convention/Career Fair in Ft. Worth, Texas, an event the College co-sponsored October 21 - 23. Present at the event were (from right) Edgar Ceballos (BBA '99), William Somerville (MBA '02), Fabian Perez-Crespo (BS '92), Shiflett, and Yuset Allam. Seated from left are Chapman students Elizabeth Hunter, Irene Torroella, Katherine Hartmeyer, and Vanessa Martinez.

.: MENTORS HELP BRIDGE ACADEMIC AND PROFESSIONAL WORLDS FOR NEW PROTÉGÉS.

Alumni Circle member Demian Bellumio volunteers to kick-start a young career by sharing savvy and lending expertise with a business student protégé.

   Opening ceremonies for the second season of the College's Mentoring Program united 13 pairs of mentors and protégés, more than double the project's inaugural group, at an orientation breakfast October 14. Executive Dean Joyce J. Elam welcomed the participants, and strategies were outlined by Alumni Circle Chairwoman Josie Carreno (MBA '99).

   Demian Bellumio (BBA '00), vice president of corporate finance and development for Terremark Worldwide, Inc., said discussions with his protégé, Adriana Perez, ranged from academic issues and employment choices to professional experiences and business ventures.

   "It represents an opportunity to get to know a select group of students who have demonstrated an interest in learning and growing beyond pure academia and whom we will likely see enjoying great careers and holding leadership positions within this community in the coming years," Bellumio said.

   Organizer Cristina Jaramillo said about 20 more students are waiting to be partnered. Applications are now available. Contact Jaramillo for more information.
ALUMNI NOTES
  • Deborah Jarrell Dawson (BBA '81) currently is project manager/consultant in the audit and advisory services department for CSX Corporation in Jacksonville.
  • Annie Roques Hernandez (BBA '92) is an attorney practicing law at the Law Offices of Laura M. Fabar, P.A. in Coral Gables.
  • Josefina (Josie) Carreno (MBA '99), Alumni Circle chair, was promoted to vice president-director, Miami Manufacturing Operations for Beckman Coulter Corporation.
  • Kwan Wang Lin (BBA '99) is now the general manager of Universal Industrial Trading Company in Taipel, Taiwan.
  • Desa Burton (EMBA '01) has joined Fish & Richardson P.C. in Silicon Valley.
  • Michelle Ramim-Levy (EMBA '02) is an adjunct professor at Polytechnic University of the Americas (Miami campus) and FIU's College of Business Administration, teaching several on-campus, blended, and online management courses for undergraduate and MBA students. She also is an MIS consultant helping corporations and educational institutions on diverse Information System implementations, including new e-commerce and online learning platforms.

Have exciting news? Share your accomplishments and update your alumni profile at the alumni web site.


IN THE WORKS

.: BUSINESSWEEK TOUTS CHAPMAN'S IMBA PROGRAM AMONG THE BEST IN THE U.S.

  As it was in 2002, the College's full-time International MBA (IMBA) program again was ranked among the best 70 in the country in BusinessWeek's "2004 B-School Profiles and Rankings," published online October 11 and in print October 18. Considering only public universities in the top 70, the Chapman School's IMBA program is in the foremost 25.

  The listing shows FIU in the third tier of top programs, joined by the University of Florida as the only in-state schools.

  "This is a very elite group, representing about 15 percent of all AACSB-accredited institutions and less than 10 percent of all graduate-degree granting business schools in the U.S.," Chapman Dean José de la Torre said. "This is a testament to the quality of our faculty and their dedication to our IMBA program, their willingness to innovate, and their devotion to our students."

.: COLLEGE MARKS FIRST ANNIVERSARY OF DUAL-DEGREE PROGRAM BY HOSTING GATHERING OF ALL PARTNERS.

   

Enjoying a welcome breakfast in the MARC Lobby, José de la Torre chats with Associate Dean Henri-Laurant Brusa of the EDHEC Business School in France, one of the institutions considering a dual-degree arrangement with Chapman Graduate School.
Twenty-five academics and administrators representing the College's existing and potential dual-degree program business school partners united for the first time at Florida International University last month to design a strategic blue print for future joint activities.

   As a result, a full-exchange agreement was mapped out with our current counterparts, awarding all students the same benefits and degrees, according to Tomislav "Tomi" Mandakovic, director of international alliances and newly appointed associate dean of the Chapman School. Heretofore, the College served as host to international students earning an MBA from their "home" institutions for their first year of graduate work and an MIB (Master of International Business) after attending the Chapman Graduate School their second. Now, the program will enable the Chapman's Schools students to earn dual degrees as well through a reverse arrangement.

   With the program expanded to work both ways, meeting participants then re-examined all aspects of student services and academic content. Another program developed at the meeting enables our International MBA students to complete a summer term at partner institutions and earn an additional certificate. Doctoral studies, faculty exchanges, and joint research proposals were explored as well.

   Countries represented in existing agreements include Venezuela, Uruguay, Brazil, Perú, Colombia, Mexico, and Portugal. Signings are expected in December with the Universidad de Puerto Rico, Monterrey Tec (México), Universidad Adolfo Ibáñez (Chile), IAE, and Universidad Austral (Argentina). Negotiations also are underway with schools in Spain, México City, France, Brazil, Costa Rica, Dominican Republic, and Greece.

   "This is central to our strategy of differentiating us as the leading business school for international business, particularly in the Americas," de la Torre said. "The addition of a small group of Mediterranean partners is a big plus and makes us more global while remaining true to our hemispheric orientation."

.: REAL ESTATE LUNCHEON UNITES PROFESSIONALS, ACADEMICS, AND STUDENTS.

Event MC Paul Jones (right), of Pyramid Realty Group, Inc., presents a plaque of appreciation to GMAC Vice President John McLeod for being the first sponsor of the annual awards luncheon.

   About 50 people attended an awards ceremony October 19 in FIU's GC Ballroom to honor industry professionals who support the College's Jerome Bain Real Estate Institute and its real estate programs.

   For the first time in its four-year history, the Annual Real Estate Awards Luncheon received corporate sponsorship, courtesy of GMAC Commercial Mortgage and Pyramid Realty Group, Inc. Pyramid's President Paul Jones served as master of ceremonies after John Zdanowicz, the Institute's director, presented him with an appreciation plaque to open the program. Jones (BBA '78) was a founder of the FIU Real Estate Alumni Council, which now numbers more than 80 members, and also serves as the organizer of its annual Career Forum.

   "He's been a cheerleader and a key player all along," Zdanowicz said, "and if I had to use all of his ideas, I'd never sleep."

   Guest speaker, GMAC Vice President John McLeod, said a prime component of his job is getting out from behind his desk and into the field, "which includes coming to FIU and talking to students."

   McLeod addressed members of the newly-formed Real Estate Student Association (RESA), outlining the growth of his company and industry. He said GMAC's offices in Boca Raton and Miami are responsible for just under a half-billion in transactions, with an average loan of $11 million.
IN THE COMMUNITY

.: COLLEGE ENTERS TWO HISTORIC MULTI-NATIONAL PARTNERSHIPS TO AID LATIN AMERICAN TRADE.

FIU President Mitch Maidique (top left) signs the technical cooperation agreement with Chelston W.D. Brathwaite as Executive Dean Joyce J. Elam and Jerry Haar look on.

   In a first-of-its-kind partnership with a university, the 61-year-old Inter-American Institute for Cooperation on Agriculture (IICA) signed an agreement with the College on October 14 to help small- and medium-sized agribusinesses prosper in a global market. Also in October, the College's Knight-Ridder Center emerged as part of a new multi-national coalition to advance the Central American Free Trade Agreement (CAFTA).

   The first agreement calls for the College to provide training, feasibility studies, executive education, and other non-financial support to farming and agribusiness operations so they can transform raw commodities into more lucrative, competitive products. This might mean, for instance, that instead of selling guavas at a local market or for export, the grower reduces the fruit to pulp, processes and packages it as jam, and sells it to grocery and health food stores, boosting profit for the producer and value for the consumer.

   The pact will foster an entrepreneurial culture in agricultural communities, according to Jerry Haar, who cultivated the program and acts as its manager. Chelston W. D. Brathwaite, IICA's director general, said the agreement will help bring concrete benefits to emerging democracies in Latin America and the Caribbean.

   "Democracy needs to be translated into a better life, including prosperity," he said. "People are fed up with promises. We have to put some meat into these philosophies."

   The second agreement binds the College with 100 leaders and organizations forming the Alliance for CAFTAction, which aims to meld business, community, and policy interests in the six countries that signed the free-trade accord at the end of January. Scaffolded by a $700,000 USAID grant, the Alliance for CAFTAction staged a public launch November 9 in Guatemala City with Knight-Ridder Center's Director Ed Glab in attendance as a founding signatory. The event was simulcast in all participating countries.

   College experts in family-owned enterprises and Latin American economic/political policy, Haar and David Wernick, respectively, also will be participating in the endeavor.

.: STORM CHASING

NBC 6 and WB39 News at Ten's Chief Meteorologist Roland Steadham took time during South Florida's busy hurricane season to teach students about forecasting models in the operations management class of adjunct Professor Bill Henrie at FIU's Pines Center.



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BUSINESS NETWORKS is published by the Marketing, Communications, and Publications Office and developed in conjunction with the College's Alumni and Partner Relations Office in the College of Business Administration at Florida International University. Editor: Sally M. Gallion.

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