Our Faculty

Bruce Bachenheimer

Clinical Professor

Lubin School of Business

Management and Management Science

  • @New York City
    163 William Street 342
Office Hours
New York City

Tue 11:00am-12:00pm

Thu 2:00pm-6:00pm


MBA , Australian Graduate School of Management , Sydney, AUSTRALIA , 2000

BBA , Pace University , Pleasantville, NY , 1983
International Management

Awards and Honors

  • Lubin School of Business, October 9, 2015 - Excellence in Service
  • Lubin School of Business, May 23, 2014 - Faculty Reader
  • Pace University, May 16, 2012 - Faculty Reader
  • Kairos Society, February 3, 2012 - Mentor
  • Center for Global Business Programs, 2010 - Figueroa Faculty Grant for Study in International Business Recipient
  • 47th Annual Leaders in Management Awards Dinner, 2010 - LIM Award and Honorary Degree Presenter
  • The Wilson Center for Social Entrepreneurship, 2009 - Faculty Fellow
  • NASDAQ and the Massachusetts Institute of Technology, 2009
  • Wilson Center for Social Entrepreneurship, 2007 - Faculty Fellow
  • Pace University, 2006 - University Award for Distinguished Faculty Service
  • Students In Free Enterprise, 2005 - Sam Walton Fellowship


Bachenheimer, B. (2014, September). Chapter 2: The New Entrepreneurz. http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118837606.html

Bachenheimer, B. Entrepreneurship by Tom Zimmerman and Michael Fountain. http://www.oup.com

Kshetri, N. & Bachenheimer, B. (2013, October (4th Quarter/Autumn)). Global Entrepreneurship. (Issue 1) , pages 352. http://www.routledge.com/books/details/9780415888004/

Muller, H. & Bachenheimer, B. (2013, April (2nd Quarter/Spring)). Professor of Innovation. (Issue 1) , pages 55 -57 and 221 - 223. http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118340477.html

Robert Hisrich, R. & Bachenheimer, B. (2013, January (1st Quarter/Winter)). International Entrepreneurship. (Issue 2) , pages 536. http://www.sagepub.com/books/Book237248

Bachenheimer, B., Isaak, R. & Isaak, A. J. (2013, January (1st Quarter/Winter)). Reaching for Scalable Entrepreneurship: Implications for Growth and Job Creation. Entrepreneurship: Theory, Role of Economic Development and Practices. Hauppauge, NY, USA: Nova Science Publishers.


Bachenheimer, B. (2015, October 30). Global Consortium of Entrepreneurship Centers Annual Conference. Structure and Design Issues in Entrepreneurship Centers: A Workshop. Global Consortium of Entrepreneurship Centers, University of Floriada

Bachenheimer, B. (2015, October 23). One Day Immersion. Virtual Reality in the Business Market: On the Periphery of the Next Tech Boom. The Cable Center, Pace University, Michael Schimmel Center for the Arts

Bachenheimer, B. (2015, October 22). Phoenix Publishing & Media Group. The Future of Entrepreneurship Education. The Sino-American Publishing Research Center, Pace University

Bachenheimer, B. (2015, October 6). The 10 Commandments of Startup Profits. Panelist. Disruptive Technologists of NYC, Microsoft, New York

Bachenheimer, B. (2015, April 1). Balancing a Cool Idea with Profitability. Moderator. Disruptive Technologists of NYC, Microsoft, New York

Bachenheimer, B. (2015, January 24). How To Build A Strong Start-Up. The Future of Entrepreneurship. Columbia University, Industrial Engineering and Operations Research, Columbia University, New York

Bachenheimer, B. (2015, January 12). Yazamut Al'Habar. An Accidental Entrepreneur. Global Entrepreneurship Week, Tangier, Tel Aviv, Israel

Bachenheimer, B. (2015, January 7). Israel Entrepreneurship Initiative. New York's "Silicon Alley", a Hub of Start-Up Companies. MIT Enterprise Forum of Israel, Tel Aviv University, Israel

Bachenheimer, B. (2015, January 7). Israel Entrepreneurship Initiative. Providing Israeli Startups a Home Base in NYC. MIT Enterprise Forum of Israel, Tel Aviv University, Israel

Bachenheimer, B. (2014, October 27). NYC Social Infrastructure & Tech Ecosystem. Are We At An Inflection Point?. Disruptive Technologists of NYC, New York Institute of Technology

Bachenheimer, B. (2014, October 3). Global Consortium of Entrepreneurship Centers (GCEC) 2014. Building Scalable Ventures - University's Role in the Entrepreneurial Ecosystem. University College London (UCL), London, England

Bachenheimer, B. (2014, October 3). Global Consortium of Entrepreneurship Centers (GCEC) 2014. Eco-systems for long term success: building sustainable enterprise. University College London (UCL), London, England

Bachenheimer, B. (2014, June 30). Global Forum on Business and Entrepreneurship. Entrepreneurial Passion. Envision EMI, Pace University, New York, NY

Bachenheimer, B. (2014, May 8). HealthTech 2014. From Lab to Market: See the Challenges and Opportunities in Commercializing Breakthrough Discoveries. Westchester County Association, Tarrytown, NY

Bachenheimer, B. (2014, February 20). Entrepreneurs Roundtable. Moderator. Entrepreneurship Lab, Pace University, New York, NY

Bachenheimer, B. (2014, January 27). On Social Media. The Future of Social Media. Disruptive Technologists in NYC, ATT AdWorks Lab, New York, NY

Bachenheimer, B. (2014, January 16). NYC Entrepreneurship Tour. Creativity and Innovation. ROI Community, Entrepreneurship Lab

Bachenheimer, B. (2013, December 5). Leaders from Four of NYC's Top Business School Entrepreneurship Programs. Pace University. Golden Seeds, New York, NY

Bachenheimer, B. (2013, November 17). Global Entrepreneurship Week. Trends in the NYC venture industry. Tel Aviv University, Tel Aviv, Israel (via Skype)

Bachenheimer, B. (2013, November 7). Entrepreneurship NYC. The role of universities in the NYC ecosystem. Entrepreneurship Lab, Pace University

Bachenheimer, B. (2013, October 30). Engineering Innovation (ENGN3230). The Art of Pitching. Australian National University, Canberra, Australia (via Skype)

Bachenheimer, B. (2013, September 23). Ethics, Law, and Surveillance Culture. The MIT Enterprise Forum. The Cooper Union Entrepreneurship Society, Cooper Union

Bachenheimer, B. (2013, July 24). Enstitute Summer Immerisive Program. The Business Model Canvas. Enstitute, Entrepreneurship Lab, Pace University

Bachenheimer, B. (2013, July 21). National Youth Leadership Forum on Business & Innovation. Entrepreneurship. Lead-America/Envision, Fordham University

Bachenheimer, B. (2013, April 6). The Venture Toolkit. Educating Tomorrow's Entrepreneurs. Asian Business Association-America, Pace University

Bachenheimer, B. (2013, March 21). A Fireside Chat with Miles Lasater. A Fireside Chat with Miles Lasater, Co-Founder HigherOne. HigherOne and Entrepreneurship Lab, Pace University

Bachenheimer, B. (2012, November 12). Technology Entrepreneurship. A Dialogue for Global Entrepreneurship Week. IDC Interdisciplinary Center, Herzliya, Israel (via Skype)

Bachenheimer, B. (2012, October 26). Roundtable Discussion with French Minister Fleur Pellerin. New York City's Digital Economy. French Embassy, New York, NY

Bachenheimer, B. (2012, October 23). International Visitor Leadership Program. Promoting Entrepreneurship. United States Department of State, New York, NY

Bachenheimer, B. (2012, September 13). Collegiate Symposium. University Engagement. Consulate General of Israel, New York, NY

Bachenheimer, B. (2012, July 23). Business & Entrepreneurship. Entrepreneurship. LeadAmerica, New York, NY

Bachenheimer, B. (2012, July 19). Foreign Press Center Media Tour. Silicon Alley: Exploring New York's Technology Boom. United States Department of State, US Mission to the United Nations

Bachenheimer, B. (2012, May 18). The 11th Annual Faculty Institute. Collaboration & Innovation Showcase: The Entrepreneurship Lab. Pace University, Pleasantville, NY

Bachenheimer, B. (2012, April 27). Global Chapter Leadership Conference. Renew to Remain Relevant. MIT Enterprise Forum, Massachusetts Institute of Technology

Bachenheimer, B. (2012, February 4). Global Summit. Entrepreneurship Education. Kairos Society, New York, NY

Bachenheimer, B. (2012, January 12). Business Entrepreneurship for Engineers. Technology Entrepreneurship. Tel Aviv University, Tel Aviv, Israel

Bachenheimer, B. (2012, January 11). What They Don't Teach You In Business School. What They Don't Teach You In Business School. MIT Enterprise Forum of Israel, Tel Aviv, Israel

Bachenheimer, B. (2011, December 1). Small Business Development and Entrepreneurship. United States Department of State, New York, New York

Grants, Contracts and Sponsored Research

Bachenheimer, B. (2014, March 31). Israel Entrepreneurship Initiative.
Michael Dezer, BBA '68 , Private , $250,000.00 . Funded,From original proposal: The Michael Dezer Entrepreneurship Center: A Global Reach Your career is a classic entrepreneurial success story. We share your commitment to experiential learning, risk-taking, and creative thinking to give our students the skills they need to thrive in the workplace—whether they wish to start their own business or rise to top positions at leading companies. Our entrepreneurship program has been a core component of the Lubin School of Business curriculum since 1979, making it one of the oldest such programs in the United States. Under the leadership of Professor Bruce Bachenheimer, the Lubin Entrepreneurship Lab guides our students through every step of the entrepreneurial process—from pitching an idea, securing investors, managing a workforce, marketing a product, and everything in between. The Lab gives these young men and women the skills they need. Professor Bachenheimer has also taken the lead in fostering closer global partnerships for Lubin students. Most significantly, in 2012, he led the first Lubin field study to Israel. During a 10-day excursion, our students focused on technology innovation and entrepreneurship, visiting such companies as ISCAR, Itmar Medical, Better Place, Omrix Biopharmaceuticals, Ashkelon Desalination Plant, and Objet. With a $10 million gift, you can establish the Michael Dezer Entrepreneurship Center. Your gift will take our entrepreneurship program to new heights in three ways. First, your gift will help us to establish a unique connection with a university in Israel, one of the most entrepreneurial societies in the world. Second, we will create a physical home for the Center that is commensurate with the needs of a substantially expanded program. And, lastly, we will expand the program's most important and exciting initiatives, including field studies and internships, allowing us to serve a larger student population. The logical next step in Pace's entrepreneurial education is expanding it to include an international focus. After all, in an increasingly global marketplace, business leaders must forge key relationships with customers and suppliers overseas. Your gift can take the international work we are already doing in Israel to the next level, infusing our coursework, field studies, and other programs with a distinct international focus. A Unique Connection with Israel We have already made impressive strides in solidifying a working relationship with business and academic leaders in Israel. Recently, Pace hosted a forum on technology innovation and entrepreneurship in Israel; organized a speaker series for Lubin students featuring executives from top Israeli tech firms like Outbrain, Chiasma, and 5min Media, as well as Israel's Economic Minister to North America; and spearheaded a similar lecture event overseas in Israel. Professor Bachenheimer's hard work in building our relationships with Israeli leaders, particularly in the technology and biomedicine sectors, has built the infrastructure and set the stage for your gift to take these collaborations to the next level. With a critical mass of successful Pace alumni living in Israel, there is already a vibrant network of professionals eager to make further connections with their alma mater. With your gift, we will look to develop a strategic partnership with Tel Aviv University or a similar institution. Professor Bachenheimer already has established relationships at Tel Aviv University and considers them an excellent partner for our program. A collaboration of this nature will create countless avenues for mutual benefit, such as student exchanges; research partnerships; faculty exchanges between Tel Aviv and New York; physical spaces on both campuses to facilitate collaboration on business ideas; and internship opportunities. Not only will our students and faculty benefit from these experiences, but it will also be a great benefit to young Israeli students as well. With the Dezer Center's proposed new home, Israeli students can take advantage of all of the resources that Pace will have to offer. Creating a formal partnership with an Israeli institution is desirable in a number of ways. Most importantly, Israel is one of the most entrepreneurial nations in the world and has a demonstrated and robust record of turning out world-class companies and entrepreneurial thinkers. There is a natural academic interest in how that has come to be and how it can be replicated in other countries. Aligning our entrepreneurship program with Israel in this special way will be a unique calling card for the program and will attract a lot of attention from the academic community, potential students, and business leaders. A New Home The first step is to identify a physical space that will put the Dezer Center on the map. Given the needs of our students and the international focus of what the program seeks to accomplish, it is essential that visiting dignitaries, corporate leaders, and guest speakers have a state-of-the art venue in which to work. Moreover, being in the same space will encourage collaboration among students and foster cooperation across fields. With a designated space, the program can host even more lectures, build upon successful events like the Pace Pitch Contest and the Pace Business Plan Competition, add new shared office space for budding entrepreneurs to develop new ventures, and accommodate more students and faculty in expanded classrooms and lecture halls. Building on Success—Growing Our Existing Programs Expanded Field Studies Entrepreneurship by definition is experiential. There is so much that cannot be learned in a classroom setting. For this reason, we need to offer exciting opportunities for students to go out into the field and see successful companies in action, while they learn from executives and managers how to run a business and manage a team. Your gift can create better opportunities for field studies across the globe. We seek to give students a thorough understanding of how strategic investments in education, infrastructure, and high-tech have fueled economic booms and how this model for growth can be applied. By taking students to high-tech hubs such as Tel Aviv and Herzliya, students can see how entrepreneurs have leveraged Israel's human capital and technical expertise. In addition to Israel, we have previously organized trips to Tanzania focused on social entrepreneurship and to India focused on micro-finance entrepreneurship. Your gift will help us offer even more opportunities like these. Internship and Apprenticeship Opportunities In addition to visiting corporate headquarters and manufacturing centers through field studies, we also want Dezer students to gain hands-on experience working for leading companies at home and abroad. Your gift will help us establish two important initiatives for our students—internships and apprenticeships. The Dezer Center will aim to develop valuable internships at local start-up businesses for our undergraduate and graduate students. This is a prime learning experience for them to truly be immersed in the workings of a start-up company. Moreover, our students will serve as important resources for these firms as they are formalized and become established. Your gift will help subsidize the internships, as many of these companies will lack the financial resources to hire and train potential interns. The second initiative is global apprenticeship opportunities with leading firms across various sectors. These global firms—especially in Israel—will have the resources to take on student apprentices and give them meaningful work and in-depth business and cultural experiences. Not only does this strengthen the marketable skills of our students, but it establishes key institutional connections with these companies. Pace alumni will become the leading candidates to fill positions at these firms, leveraging our existing strengths in computer science, accounting, and banking. Your gift will open up new avenues for employment for Pace alumni, in addition to cementing our long-term relationships with economic leaders. Events and Networking Opportunities In addition to the experiential learning component of the Dezer Center, it's equally important that we provide our students with a constant flow of ideas between industry and the students and staff of the University. Annual events are critical to this function. We envision a regular guest lecture series featuring prominent entrepreneurs, visiting scholars, and other networking events that promise to bring valuable insight and insider knowledge to our students. As the Dezer Center grows, we plan to sponsor additional student competitions in a variety of industry sectors—designing proposals, pitching investment opportunities, and securing investments for micro-projects. These opportunities to engage with the industry will provide a real boon to our students' academic and professional experience.

Bachenheimer, B. (2014, September 30). Ted and Pat Levine Proof of Concept Entrepreneurship Initiative.
Ted Levine and Pat Levine , Private , $40,000.00 . Funded,With your pledge of $40 000 over two years the University would establish the Ted and Pat Levine Proof of Concept Entrepreneurship Initiative which would provide competitive awards for Pace students and young alumni interested in performing proof of concept work. Your gift would support work to better understand if a business idea might best flourish into a successful entrepreneurial venture. This specific area of focus has never been funded before at Pace making the Levine Initiative a very unique and useful contribution to our program. Managed through the Pace University eLab the Levine Initiative would be an opportunity to help potential entrepreneurs discover and decide if when and how to move ahead with their ventures. Entrepreneurship is a priority for Dean Braun and your generous contribution would provide us with the chance to further develop our program at Pace. Each year $5 000 of your gift would be allocated to program administration and $15 000 would be allocated to two to three grants.

Bachenheimer, B. (2014, June 25). Veterans Entrepreneurship Boot Camp.
Blackstone Charitable Foundation , Private , $50,000.00 . Funded,Entrepreneurship Boot Camp at Pace University A Condensed Proposal to the Blackstone Charitable Foundation (Revised June 4, 2014) Veteran Affairs at Pace University Pace University is a leader in the area of veteran affairs in the United States. Pace recognizes and honors the commitment and sacrifices our brave soldiers have demonstrated during times of crises. In fact, Pace University was selected by G.I. Jobs magazine as a top Military Friendly School for 2014. This is an honor awarded to only 20 percent of all colleges, universities, and trade schools nationwide. We are firmly committed to assisting veterans in pursuing higher education. As of January 2014, 241 veterans were enrolled at the university. Admitted veterans are eligible to receive need-based financial aid from Pace as well as benefits offered by the G.I. Bill. We also provide transitioning services, counseling, and financial assistance through our Veterans Scholarship program, which can cover up to half of the cost of tuition for full- and part-time undergraduate and graduate students. Beginning in fall 2009, veteran students were eligible to receive full coverage of tuition through our Yellow Ribbon Program. The University also provides application fee waivers to all veterans. Program Description The Entrepreneurship Boot Camp at Pace University will be designed around two central elements: a focused, practical training in the tools and skills of new venture creation and growth; and the technical application that will allow participants the opportunity for real-time startup. The Boot Camp will meet once each week for seven weeks. Each meeting will consist of the following elements: ? 1 hour of business instruction focused on a core element of entrepreneurship, such as opportunity identification and analysis, organizations and operations plan, entrepreneurial finance and marketing, business plan writing, and pitching. ? 1 hour of technical instruction that will provide participants with the foundation for creating their own website. ? 1 hour of lab-based instruction in which participants will begin to create their own website through the use of tools – including HTML5, JavaScript, Domain, and Webhosting, to name a few – they have learned during technical instruction. The goal of the Entrepreneurship Boot Camp is to open the door to entrepreneurial opportunities and small business ownership to veterans by developing their competencies in the many steps and activities associated with creating and sustaining an entrepreneurial venture and also by helping them make connections that will allow them to be successful entrepreneurs. The Entrepreneurship Boot Camp will be run twice during the summer, fall, and spring. In order for each participant to receive personalized feedback, we will keep the enrollment between 12 and 16 veterans per session. The activities of the Boot Camp will be structured to help veterans connect their military experience to business concepts. The role of the program facilitator will be to arm the participants with the ability to identify and analyze opportunity, conduct research, and create detailed plans to cover three important aspects of business which are operations, marketing, and financial. The facilitator will help the veterans set achievable goals and regularly access their progress. The veterans will also be given an opportunity to network and collaborate throughout the course. A networking event will be held at the beginning of the courses to allow the participants the chance to connect about their business ideas and make connections. At the end of the courses, a Demonstration Day will be held to allow the participants to present their business concepts to industry experts, investors, and venture capitalists. Target Audience The target audience for the Boot Camp will be veterans based in the tri-state area with a strong interest in entrepreneurship. Veterans seeking to enter the program will demonstrate a passion to start a business venture or to be a part of a high-growth startup. The program will be open to all veterans regardless of their affiliation with Pace University. We will recruit participants, with the assistance of Veteran Affairs, through veteran associations and universities in the tri-state area with a high population of veterans. Applicants will be asked to complete a comprehensive online application to ensure they are dedicated to developing entrepreneurial skills and initiating the steps to begin a business or substantial online component. While the program will be open to all veterans, it is anticipated that the initial session or two will be largely comprised of current Pace students and recent alumni. As word of the program spreads through marketing and publicity, we anticipate a much broader mix of participants. Program fit with The Lubin School of Business' Entrepreneurship Lab The Boot Camp will be an expansion of The Lubin Entrepreneurship Lab's programming. Since its opening in February 2012, the Entrepreneurship Lab (eLab) has been extremely active. It has hosted a wide variety of events and activities, actively engaging students, faculty, alumni, and members of the broader entrepreneurial ecosystem in the New York metropolitan area. Staff The Entrepreneurial Boot Camp will be coordinated and taught by Professor Bruce Bachenheimer, Director of the Entrepreneurship Lab, and Nikhil Kalyankar, Associate Director of the Entrepreneurship Lab. Funding Request Pace University requests $50,000 from Blackstone Charitable Foundation to extend our offerings at our eLab in order to serve veterans through the Entrepreneurship Boot Camp. The grant will fully cover the cost of stipends for a program facilitator, technical advisor, and two student assistants for the duration of the six courses. The budget also includes materials for participants, including laptops with preloaded software (such as Business Plan Pro, Adobe Photoshop, etc.) to be used throughout the six courses. Other expenses include marketing materials for the program, office materials, and the cost of catering for networking events. Should additional unexpected costs arise, the regular operating budget and other resources of the Entrepreneurship Lab would be used to insure the success of the program. Metrics and Deliverables We expect to meet the following metrics and deliverables at the completion of the funding period: ? 80% attendance rate ? 80% satisfaction rate with the course* ? 80% of participants have implemented a critical element of launching a business* * Participants will complete a survey at the end of the course in which they rate their satisfaction with the instruction and whether they have gained the core competencies of launching a business. The participants will also be surveyed on the initial steps they have taken, or will take, to launch a critical element of their business. This may include creating a website or logo for their business, creating marketing materials for a service, making a product prototype, completing a loan application, or creating professional business materials such as an executive summary, pitch deck, or business plan. Risks and Contingencies We will work to recruit 12-16 students per course from veteran organizations and universities in the metropolitan area; as this is a new program, however, there may be unforeseen difficulties in recruiting students. If there are low enrollment numbers, we will not run the course with less than six students. In the situation that there are less than six students enrolled in any of the six sessions, we will roll over participants into the next session. The funding that has not been spent at the end of proposed grant period will be used to extend the program by planning an additional session in the fall of 2015. Expected Outcomes Through the Entrepreneurship Boot Camp we expect to serve 72 veterans. Participants of the program will have acquired entrepreneurial skills that will lead them to initiating the steps in starting a business or a substantial online component of a business. Given the award notification date, we expect to prepare the program in the summer of 2014, offer the first two sessions during the fall 2014 semester, the next two sessions in the spring 2015 semester, and the final two session in the summer of 2015.

Bachenheimer, B. & Coppola, J. (2013, January 24). Thinkfinity Grant.
Pace University, Office of the Provost , Pace University , $15,000.00 . Funded,"Entrepreneurship Meets Technology Innovation" Entrepreneurship skills are important for those not only seeking to establish a new venture, but also are increasingly critical in various professional careers given today's competitive marketplace, and rapid technological innovation leading to a dramatic change in the very nature of work. The Entrepreneurship Lab serves as a means to facilitate and integrate unique activities and opportunities with students in the computer science and information technology courses. The lab provides an environment where students can safely experiment with their ventures, allowing for both successes and failures without the consequences they would otherwise face in real-world scenarios. By developing risk-taking and risk-management behaviors, students will be better equipped to successfully identify sound entrepreneurial opportunities. Funding is requested to enhance the technological resources and capabilities of the Entrepreneurship Lab, specifically: a 3D Printer and supplies; tablet Computers to test apps; participation in an entrepreneurship/innovation academic conference; student stipends; and faculty/staff stipends.

Bachenheimer, B. A 'Fireside Chat' with Miles Lasater (Sponsorship).
HigherOne , Private , $1,811.00 . Funded,http://www.pace.edu/lubin/departments-and-research-centers/entrepreneurship-lubin/entrepreneurship-lab/events/past-events/mileslasater

Bachenheimer, B. Commercial Real Estate Insights for NYC StartUps (Sponsorship).
Cushman & Wakefield , Private , $2,000.00 . Funded,Key Topics History and Overview Corporate Real Estate 101 Contracts and Negotiations Estimating Costs Real Estate Life Cycle Government Regulations & Incentives Special Circumstanc


  • Inc. [Internet], September 28 2015
    Walmart to Vendors: Give Us a Discount September 28, 2015 By Jeremy Quittner “To do business with a company like Walmart, vendors are really pushed to the maximum of what they can do,” says Bruce Bachenheimer, a clinical professor of management at Pace University in New York. 1. Consider a currency hedging strategy. It makes sense, if you're manufacturing overseas and paying for things using local money, to get a handle on costs by protecting against currency swings. One way to do that is by purchasing a currency contract, known as a hedge, that allows you to exchange dollars into the local currency, but at a fixed price and at a predetermined time in the future. You benefit if the value of the local currency goes up, but not necessarily when it drops in value. With the strong greenback in recent months, you're likely to feel some pain. But here's an additional thing to be wary of, Bachenheimer says: If the currency you've hedged decreases in value, and the retailer you supply also asks for a price concession, you'll take a double hit to your bottom line. 2. Create more flexibility in your overseas production. While that's not as easy as it sounds, you could explore adding in other countries that peg their currency to the dollar. That includes many Caribbean nations, such as Barbados, Antigua, and Belize, Bachenheimer says. http://www.inc.com/jeremy-quittner/how-to-protect-yourself-from-big-box-supplier-cost-demands.html
  • Westchester County Business Journal [Newspaper], September 3 2015
    Experts: Opportunity lies in Chinese stock collapse September 3, 2015 By Evan Fallor While most may see the recent Chinese stock market collapse as an indicator of economic despair, some business experts see it as a golden opportunity for Westchester and Fairfield County firms. Bruce Bachenheimer, a clinical professor of management at Pace University and the executive director of Entrepreneurship Lab — a Lubin School of Business networking and development program — said now is as good a time as ever for local companies to explore opportunities for partnerships and strategic alliances with Chinese companies. “If I was a Chinese firm and saw this going on, I wouldn't want to have all my eggs in one basket,” he said. “New York City is the financial capital of the world, and there is a lot of talent here in Westchester County and Fairfield County. I see it as an opportunity for small firms to do business.” Despite China having the second largest economy in the world after experiencing accelerated growth in recent years, the Shanghai Stock Exchange has been on a downward slump for much of the summer. Aug. 24, now widely known as “Black Monday” in the financial world, saw the Shanghai main share index lose 8.49 percent. Calling the U.S. a safe haven economy, Bachenheimer said Westchester's standing as a wealthy county with large amounts of intellectual capital make it a desirable destination for Chinese companies. Investments in the tech industry would help these firms diversify. Investors in Westchester, he said, can do one of two things: buy from China, where products and services are less expensive, or conversely, sell to Chinese companies. The selling opportunities, he said, are plentiful in a big market where specialty products may not be impacted by the shrinking Chinese growth rate. At roughly $10 trillion in gross domestic product, the Chinese economy is still the second largest in the world and has been growing at a very rapid rate for decades. Though the rate is slowing now, it continues to grow. The latest crash does not mean a direct negative impact on Westchester's small businesses, Bachenheimer said. “I think, if anything, the Chinese stock market crisis provides more opportunities than stability does,” Bachenheimer said. “They should take these market jitters as an opportunity, not a reason to withdraw into a shell. The Chinese symbol for crisis is the same symbol for opportunity.” http://westfaironline.com/73960/experts-opportunity-lies-in-chinese-stock-collapse/
  • Inc. [Internet], August 15 2015
    What You Can Learn From Carly Fiorina's Smackdown of Trump August 15, 2015 By Jeremy Quittner Her record at Hewlett-Packard, which she led form 1999 until 2005, is controversial at best. Under her leadership, the company's share price decreased by more than half, she oversaw the layoffs of tens of thousands of employees, and she engineered a merger with computer maker Compaq that resulted in an ugly public feud with Hewlett family members. Fiorina was also ultimately fired by the computer company's board. With those things in mind, Fiorina's strategy then, as now, is closest to something called agency theory, says Bruce Bachenheimer, a clinical professor of management at Pace University in New York. Loosely defined, it describes the way public shareholders hire agents--such as chief executives--to make decisions for their companies. Sometimes these agents don't work in the best interests of the company, Bachenheimer says, which could include having a greater appetite for risk than the owners have, because it's not really their money at stake. And that appetite for risk sometimes increases as a company underperforms, because the agent's skin in the game--such as stock options--are worth less. So it can cause an agent to aim for the bleachers, in an all or nothing strategy. “For Carly Fiorina, it was worth taking a risk [in the debates], because the consequences would have been death by a thousand cuts, and becoming completely marginalized,” Bachenheimer say. “By attacking Donald Trump, she could get to five or seven percent in the polls.” http://www.inc.com/travis-wright/28-favorite-tech-tools-for-small-business-entrepreneurs-in-2015.html
  • Computerworld [Internet], July 27 2015
    The worst thing about tech bubbles isn't what you may think July 27, 2015 By Patrick Thibodeau "It's often difficult to recognize a bubble while you're in it, as unreasonable optimism and speculative greed lead to the belief that a 'new paradigm' will validate wildly aggressive projections," said Bruce Bachenheimer, clinical professor of management at Pace University and executive director of its Entrepreneurship Lab. "It certainly appears that certain sectors of the market are due for a major correction," he said. http://www.computerworld.com/article/2952732/it-industry/the-worst-thing-about-tech-bubbles-isnt-what-you-may-think.html
  • New York Business Journal [Magazine], July 10 2015
    Pommes Frittes tries to rebuild with a little help from Uber-competitor Gett July 10, 2015 By Gary M. Stern Bruce Bachenheimer, executive director of the Entrepreneurship Lab at Pace University, says the rise of the Internet is fostering these co-marketing ventures. “When your only options to promote such partnerships were expensive television, radio or newspaper ads, it wasn't really a viable proposition,” he says. With the Internet and social media, companies can join forces and avoid spending expensive marketing dollars. Moreover, corporate social responsibility is playing a more potent role in consumer choices. When Toms shoes donated a free pair of shoes to the disadvantaged for every pair of shoes bought, it inspired confidence in the company and boosted business. But some of these partnerships are “publicity stunts” and antagonize customers, acknowledges Bachenheimer. In the case of Pommes Frites' disaster, the circumstances were so “out of control, along the lines of an act of God,” that it warranted a charitable outpouring, hints the Pace University professor. Hence, Pommes Frites was considered a worthy recipient for Gett's assistance. This partnership could generate attention and business for Gett, which faces a very competitive market in going head-to-head versus Uber and Lyft. Most for-profit businesses assist non-profits, not profitable enterprises, but this situation is a special one. But Pommes Frites may benefit long after the check is cashed. “It should build brand awareness for a restaurant that many probably didn't hear of,” Bachenheimer asserts. http://www.bizjournals.com/newyork/news/2015/07/10/pommes-frites-gett-business-cooperation.html
  • Staples.com [Internet], July 5 2015
    How to Raise an Entrepreneurial Child July 5, 2015 By Steve Peha Talk about value creation. Sounds like a lofty topic, but even the youngest kids can understand value. "Entrepreneurship is really about opportunity and value creation - the ability to recognize, analyze and capture opportunity in order to create value by solving problems or providing benefits,” says Bruce Bachenheimer, clinical professor of management and executive director of the Entrepreneurship Lab at Pace University in New York. "This is important for kids to learn because jobs, and more importantly meaningful careers, are much less about 'Tell me what to do and I will do my best to accomplish it' and more about 'What can you do for me?' - i.e., how can you create value by capturing opportunity in this position. Focus on recognizing opportunities, discussing how to analyze them, and seeing if there is some way to test how to capture them by trying some aspect of the idea in the real world.” "Everyone looks to Silicon Valley as a mecca of innovation and entrepreneurship," said Bruce Bachenheimer, director of the Entrepreneurship Lab at Pace University in New York City. "They have to be here." http://www.staples.com/sbd/cre/education/k-5/how-to-raise-an-entrepreneurial-child.html
  • USA Today [Newspaper], June 19 2015
    Taiwan becomes first Asian nation with Silicon Valley launch pad June 19, 2015 By Elizabeth Weise "Everyone looks to Silicon Valley as a mecca of innovation and entrepreneurship," said Bruce Bachenheimer, director of the Entrepreneurship Lab at Pace University in New York City. "They have to be here." http://www.usatoday.com/story/tech/2015/06/19/taiwan-silicon-valley-soft-landing-bridge/28928305/
  • The Wall Street Journal [Newspaper], May 26 2015
    How to Survive Being an Overnight Success May 26, 2015 By Neil Parmar As a company grows, it's “very difficult for them to maintain that culture,” warns Bruce Bachenheimer, a management professor and executive director of the Entrepreneurship Lab at Pace University. http://www.wsj.com/articles/how-to-survive-being-an-overnight-success-1432318577
  • The Hill [Internet], May 15 2015
    US must support new entrepreneurial ventures to create jobs and remain competitive May 15, 2015 By Bruce Bachenheimer During National Small Business Week, Sen. Mazie K. Hirono (D-Hawaii), a member of the Senate Small Business and Entrepreneurship Committee, introduced legislation to help small businesses in Hawaii and across the country grow and succeed. The United States needs to support new entrepreneurial ventures in order to create jobs, sustain innovation and remain competitive in a global economy. But lumping small business owners and innovative entrepreneurs in the same category will only serve to mask the problem. Small business and entrepreneurship is not synonymous. Small businesses are certainly an important part of our economy, but they are quite different than high-growth entrepreneurial start-ups. Small business is not the engine of job growth. The prevailing belief to the contrary is appealing to populist policy makers and small business advocates, but is not supported by analytical research. Census data demonstrates that young firms, those one to five years old, are responsible for about two-thirds of job creation (Kauffman 2014). And this is not a new phenomenon. David L. Birch studied 5.6 million businesses between 1969 and 1976 and found that two-thirds of net new jobs were created by firms with twenty or fewer employees. Perhaps more importantly, he found that approximately 80 percent of those jobs were created by firms four years old and younger ('The Job Generation Process' 1979). While entrepreneurial ventures generally start small, they are intended to scale rapidly. Small businesses generally stay small in support of the owner's lifestyle. Small businesses are often founded as an alternative to traditional employment, sustaining a level of income for its founders. An independent contractor, solo-professional, mom-and-pop shop, and family business are examples. Some of these certainly grow to become very large firms that create a significant number of jobs, but those are the exception. Entrepreneurship is the ability to recognize, analyze and capture opportunity in order to create value by solving problems or creating a bundle of benefits. The three key elements that distinguish an entrepreneurial venture from a small business are a truly new business innovation, a basis of sustainable competitive advantage, and an inherently scalable business model. High-growth entrepreneurial ventures are needed to transform the economy. A large number of small businesses does not translate into job creation, commercial innovation and national economic competitiveness. With only 3.8% of adults engaged in early-stage entrepreneurial activity, Japan is ranked among the least entrepreneurial economies in the Global Entrepreneurship Monitor (GEM) 2014 Global Report. It is, however, often referred to as a 'nation of shopkeepers' (i.e. small business owners), which may explain why it has been in a recession for more than two decades. The nation's economic success in the 1970s and 80s was largely due to manufacturing efficiencies, which were eventually competed away to the consumer in the form of lower prices. In the end, innovation is the only basis of sustainable competitive advantage. Unfortunately, for the past 30 years business startups have been steadily declining in the United States (US Census). This is likely due to financing difficulties and a sharp decline in average household net worth, which fell 48% for those under 30 since 2007 (Pew 2014). SBA guaranteed loans can help small businesses, but will not significantly spur the growth of entrepreneurial start-ups. These firms need private equity investments, something President Eisenhower recognized in 1958 when he signed the Small Business Investment Act, a time when public support for venture capital to promote American innovation was galvanized by Sputnik. Bachenheimer is clinical professor of Management at Pace University's Lubin School of Business and executive director of its Entrepreneurship Lab. He was also the founder of a small business, Annapolis Maritime Corp., and co-founder of an entrepreneurial venture, StockCentral Australia. http://thehill.com/blogs/congress-blog/economy-budget/242132-us-must-support-new-entrepreneurial-ventures-to-create
  • PBS [TV], April 29 2015
    Was interviewed in 'From Soldier to Entrepreneur' on SciTech Now, hosted by Hari Sreenivasan, which premiered on WLIW Channel 21 April 29, 2015 from 7:00 –7:30 PM. The program also aired on WNET Thirteen and other PBS stations nationally. A video clip of this segment is available at: http://bit.ly/SciTech_Now.
  • ABC [TV], April 25 2015
    I was interviewed on Hiring America, which aired on WABC-TV Channel 7 April 25, 2015 from 1:30 –2:00 PM. The program was also broadcast nationally in over 80 markets as well as on the Armed Forces Network and Pentagon Channel. A video clip of this segment is available at: http://bit.ly/HA_48.
  • OnlineDegrees.com [Internet], April 20 2015
    Most Employable Degrees for Business 2015 April 20, 2015 By Francesca Di Meglio 1. Entrepreneurship/Entrepreneurial Studies People assume that studying entrepreneurship automatically means you're planning to go into business for yourself. In fact, early on, many questioned whether business schools could even teach entrepreneurship or if the required talents were innate. But today, many employers look favorably at the study of entrepreneurship. After all, companies need people who know how to grow a business. "These days companies large and small are recognizing the value of an 'entrepreneurial mindset' and see the unique value in hiring someone who has a demonstrated interest and commitment to entrepreneurial thinking (i.e., by pursuing a degree in the subject)," says Bruce Bachenheimer, clinical professor of management at Pace University. http://www.onlinedegrees.com/degree360/student-focus/best-business-degrees-2015.html
  • American Entrepreneurship Today [Internet], April 10 2015
    Pace University's eLab Provides Crucial Entrepreneurial Education to Veterans April 10, 2015 With hundreds of military veterans enrolled, Pace University places considerable importance on being responsive to veteran needs. The Entrepreneurship Lab or eLab run by Bruce Bachenheimer is a case in point. Thanks to a $50,000 grant they received from the Blackstone Charitable Foundation for veteran entrepreneurial initiatives, the eLab runs boot camps to provide veterans with the critical skills they need to pursue entrepreneurship. Pace was one of only six organizations nationwide to receive such a grant out of 200 plus applicants. Needless to say, they feel quite honored by their selection and have a special commitment to the programs they are running for veterans. “Blackstone is obviously a very prestigious name and they're doing some important work,” Director of the Pace University Entrepreneurial Lab Bruce Bachenheimer said in an interview. “It's great to have been selected by them in a competitive process.” “We don't just want to take their skills and transition them into the workforce; we want to get them thinking and acting entrepreneurially,” Bachenheimer said. “It's about unleashing the entrepreneurial mindset, discovering it, and harnessing it.” Bachenheimer, along with Associate Director Nikhil Kalyankar, teach the courses. Bachenheimer focuses on fundamentals such as marketing, strategy, and entrepreneurship while Kalyankar teaches technical hands-on courses that ground veterans in the current technology that they can apply to their specific business venture. “For me personally, when I saw the opportunity to provide a service to those who served, it was really rewarding,” Bachenheimer said. http://ny.americanentrepreneurship.com/aetstories/entrepreneur-profiles/pace-university-s-elab-provides-crucial-entrepreneurial-education-to-veterans.html
  • Forbes [Internet], April 8 2015
    After The Sharing Economy -- Companies That Connect People In Real Life April 8, 2015 By Mike Montgomery Bruce Bachenheimer, the executive director of Pace University's Entrepreneurship Lab, says that he's seeing more and more startup businesses that are incorporating a face-to-face element. “We are social animals by nature,” says Bachenheimer. In the past, entrepreneurs (outside of dating companies) were hesitant to include a real-life element in startups. Putting people together offline can be messy, and potentially dangerous. It's hard to give 100% assurance that a driver isn't going to rob his customer or that a temporary guest isn't going to smash the place up. But that has been the case for taxis and hotels for decades. It's also challenging to scale something that requires human interaction. It's easier to attract millions of people to click on your website than it is to convince millions of people to share their cars or their homes. “But now that someone has done it, other people see that it can work,” says Bachenheimer. “Companies like Uber and Airbnb created a perception of feasibility.” And that hard work put into securing drivers, landlords and chefs pays off in stickiness. Bachenheimer says that once people have committed to a company, it's less likely they will jump ship to a competitor. http://www.forbes.com/sites/mikemontgomery/2015/04/08/after-the-sharing-economy-companies-that-connect-people-in-real-life/
  • American Entrepreneurship Today [Internet], April 6 2015
    Investor-Entrepreneur Discussion Highlights Disruptive Technologists of NYC April 6, 2015 Bruce Bachenheimer, a Clinical Professor of Management and Executive Director of the Entrepreneurship Lab at Pace Universit


    • MIT Enterprise Forum [Chairman of the Board of Directors, Global Board Member, Chapter Executive Committee] , July 1 , 2002
      History. The MIT Enterprise Forum of New York City was founded in 1971 by John Jenkins, an engineer who had graduated from MIT. We were probably the first organization established for the purpose of providing support to entrepreneurs. Seven years later, a national organization was established by MIT, which today consists of 28 chapters throughout the world. This global network is managed by Technology Review, an independent media company owned by MIT with a global readership of 2.6 million. Program. The Forum has always been open to one and all and operated by volunteers. The purpose has never changed: to help technology-related entrepreneurs start and grow innovative businesses. And the program has consistently featured discussion forum events that support this purpose by delivering insights and opportunities to build relationships with people who can be of help – investors and corporate executives who may become customers, strategic partners, or acquirers. We take pride in being able to attract a sophisticated following of entrepreneurs, investors and business decision-makers.
    • Academy of Management , November 6 , 2003


    • Lubin Advisory Board [Other]
      Desc: Highlighted the accomplishments of the Entrepreneurship Lab.
      Committee's Key Accomplishments: High quality presentation material prepared for distribution. Very positive response received.
    • "Did You Know?" Lubin Majors Event [Other]
      Desc: Represented Entrepreneurship concentration and spoke about Entrepreneurship Lab opportunities.
      Committee's Key Accomplishments: Capacity attendance and very high satisfaction feedback.
    • Celebrate Lubin! [Attendee, Meeting]
      Desc: Attended event and helped prepare display and materials for the Entrepreneurship Lab table.
      Committee's Key Accomplishments: See pic.twitter.com/OVOz0Uuyjg
    • Major Series Month [Other]
      Desc: Presented the undergraduate Entrepreneurship program and Entrepreneurship Lab opportunities to freshman and sophomores on October 13, 2014
      Committee's Key Accomplishments: 1. 62% of people that attended were freshman and 33% were sophomores 2. 90% of students indicated that they feel more informed about their major 3. 100% of participants gave the session a good, very good or excellent rating 4. 50% of participants indicated that the sessions helped them feel ready to declare their major. 5. 70% of students would recommend this program to other students
    • Princeton Review Survey [Other]
      Desc: Completed the undergraduate and graduate entrepreneurship surveys for Princeton Review. This included gathering data and writing essay responses.


    • Center for Student Enterprise [Board of Directors]
      Desc: Attend board meetings, review financial statements and other documentation, provide feedback and vote on key issues, participate in events.
      Committee's Key Accomplishments: Governing body for three student run businesses: Pace Perk, Pace Mart, and Pace Connect.
    • Convocation [Attendee, Award Ceremony]
    • 16th Annual Lubin Golf Classis [Attendee, Award Ceremony]
    • Commencement [Faculty Reader]
      Desc: Served as a Faculty Reader at the Pleasantville undergraduate commencement ceremony (5/23/14). Also participated in the Alumni Commencement Reception immediately afterwards.
      Committee's Key Accomplishments: Completed task as requested.
    • Commencement [Attendee, Award Ceremony]
      Desc: Attended NYC commencement and met alumni donor Michael Dezer, BBA '68
    • Pace Perk Board of Directors [Special Institutional Assignment]
      Desc: Attended regular board meetings, reviewed documentation and participated in events.
      Committee's Key Accomplishments: Ongoing operations of a student run business.
    • Students In Free Enterprise (SIFE) [Faculty Advisor]
      Desc: Advised Pace University SIFE team and took them to the Regional Competition, held on April 11, 2012.
    • Research and Scholarly Activity Action Group [Committee Member]
      Desc: The Research and Scholarly Activity Action Item Group was formed under the leadership of the Provost to explore the means to increase and strengthen research, scholarly activity and external funding initiatives at Pace University. The Action Item Group has met four times (10/12/12, 11/2/12, 11/16/12, & 11/30/12) during the Fall Semester 2012 to explore the issue.
      Committee's Key Accomplishments: See final report submitted on December 10, 2012.
    • CIS 101 Re-Engineering Committee [Committee Member]
      Desc: To collaborate on a revision of the CIS 101 course, a requirement for all incoming freshmen across every school. Design a curriculum to provide students a global perspective on the technology necessary to be successful in the classroom and in their chosen professions. Attended meetings on 3/20/12, 4/2/12, 4/16/12, & 5/2/12.
      Committee's Key Accomplishments: See final recommendations issued at the end of the spring 2012 semester.


    • Girl Scouts of America [Adviser and Guest Speaker ]
      Desc: Assisted in the development of a year long entrepreneurial project to teach 9 and 10 year old girl scouts skills through peer learning and experiential exercises. The result is a case study of how the girl scout program is a working example of project-based learning teaching 21st century skills.
      Committee's Key Accomplishments: A video that comprehensively documents this project, and highlights my role, is available at http://youtu.be/8Uj_nfGJsVw.
    • Chappaqua Central School District [Discussant]
      Desc: Advise board members on incorporating elements of innovation and entrepreneurship in school facilities and curriculum.
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