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US News featured Lubin Professor Bruce Bachenheimer in "What to Know About Getting an MBA During the Coronavirus Pandemic"

06/05/2020

US News featured Lubin Professor Bruce Bachenheimer in "What to Know About Getting an MBA During the Coronavirus Pandemic"

Bruce Bachenheimer, a clinical professor of management with the Pace University Lubin School of Business in New York City, suggests that admitted MBA students account for the type of MBA program they were accepted into when determining whether to enroll or postpone their study plans.

“When considering a top tier MBA program, interactions among one’s cohort, academic and social, is absolutely one of the most valuable aspects of the program and I would recommend deferring admission until traditional classes and regular activities are certain to resume,” Bachenheimer wrote in an email. “For other programs, where there is not necessarily a strong cohort model, chancing a semester of remote learning is not as consequential. This would especially be the case for part-time programs.” 

Read the full US News article.

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Crain’s New York featured Lubin Professor Bruce Bachenheimer's piece "Entrepreneurs are sure to find inspiration in the pandemic"

04/21/2020

Crain’s New York featured Lubin Professor Bruce Bachenheimer's piece "Entrepreneurs are sure to find inspiration in the pandemic"

Professor Bruce Bachenheimer: New York is well-positioned to develop new businesses that shift manufacturing from massive to nimble and distribution from scale to flexibility. Our workforce is driven and adaptable, with the spirit to think and act more like committed entrepreneurs than just employees.”

Read the full Crain's New York article (PDF)

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Wall Street Journal featured Lubin School of Business management professor Bruce Bachenheimer in "New Yorkers Step Up to Help Mom-and-Pop Businesses"

04/08/2020

Wall Street Journal featured Lubin School of Business management professor Bruce Bachenheimer in "New Yorkers Step Up to Help Mom-and-Pop Businesses"

Such concerns aren’t unfounded. Even a well-run small business typically has less than two months of operating capital in reserve, says Bruce Bachenheimer, a management professor at Pace University’s Lubin School of Business.

Read the full Wall Street Journal article.

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Forbes featured Bruce Bachenheimer, director of the Entrepreneurship Lab at Pace University in New York in "Why We Don’t Send Gifts To Clients During The Holidays"

12/16/2019

Forbes featured Bruce Bachenheimer, director of the Entrepreneurship Lab at Pace University in New York in "Why We Don’t Send Gifts To Clients During The Holidays"

It can send the wrong message to clients and employees. 

“In the 1980s, you couldn't spend enough money," Bruce Bachenheimer, director of the Entrepreneurship Lab at Pace University in New York, told The Street. "But today clients are saying, 'Forget the hunting trip, forget the lavish treatment — just give me a better price."

Bachenheimer added, "If you're rolling out the red carpet for a customer, they're going to assume you have incredibly high margins to do all that spending. They're going to think, 'Oh, he's overcharging everyone — including me — in order to afford all this."

Besides sending the wrong message to clients, it could also anger employees. If you’re going all-in on lavish presents for clients, while your teammates haven’t received a bonus, they’ll question why. Remember, your team can make or break your business. You need to keep your teammates happy and ensure they feel appreciated. 

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"Can North America" featured Bruce Bachenheimer, Clinical Professor of Management and Executive Director of the Entrepreneurship Lab in "North America’s most powerful cities"

11/12/2019

"Can North America" featured Bruce Bachenheimer, Clinical Professor of Management and Executive Director of the Entrepreneurship Lab in "North America’s most powerful cities"

Regulations

Powerful cities don’t regulate to prevent progress, they regulate to protect investors, for example, and to provide for a more livable environment that attracts talent.

The top-ranking cities also offer a sense of trust because there’s a rule of law and low political risk. Having a well-developed commercial legal system works in favor of companies that want to operate in these cities.

While regulations can create high expenses for companies, those that go through tremendous regulatory hurdles for the SEC, auditors or other regulatory bodies have higher valuations, because the regulations work to prevent fraud and accurately identify risk.

“What’s a problem is regulations that don’t make sense, but the idea that regulation is hurting business is misunderstood at best,” said Bruce Bachenheimer, Clinical Professor of Management and Executive Director of the Entrepreneurship Lab at Pace University. “Financial regulation will cost companies money in compliance, but the value of their stock is exponentially higher because they comply with that regulation.”

Regulations do serve to protect businesses and their operations, but they can also prevent innovation. Lobbying for restrictions to maintain the status quo and protect businesses might work for a short period, but then the city will eventually falter, said Bruce.

The Austrian economist Joseph Schumpeter coined the phrase creative disruption to describe the idea that some things needed to be destroyed, because, in spite of any pain from that change, it freed resources and energy that could be reallocated and used for disruption.

Companies can lobby for regulation that prevents a new way of distribution or a more innovative product in the market, for example, but allowing for the creative process to continue is what enables progress in the long run.

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"The Wall Street Journal" featured Lubin School of Business professor Bruce Bachenheimer in "Cash-strapped small businesses turn to go fund me"

11/12/2019

"The Wall Street Journal" featured Lubin School of Business professor Bruce Bachenheimer in "Cash-strapped small businesses turn to go fund me"

Bruce Bachenheimer, a professor at the Lubin School of Business at Pace University, said even more important than cash is the validation business owners receive from GoFundMe campaigns. Two-thousand customers contributing $20 or $40 each might not be enough to keep a business open, but it can give owners reassurance.

After a successful GoFundMe campaign, owners might say to themselves, “‘I should hang on, I should keep going,’” Mr. Bachenheimer said.

Read the full Wall Street Journal article.

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"Pymnts" featuredprofessor Lubin School of Business professor Bruce Bachenheimer in "Struggling SMBs Soliciting Donations Via GoFundMe"

11/11/2019

"Pymnts" featured Lubin School of Business professor Bruce Bachenheimer in "Struggling SMBs Soliciting Donations Via GoFundMe"

But more than the boost in cash flow, the community support a business receives through a GoFundMe campaign can truly be invaluable, explained Bruce Bachenheimer, a professor at the Lubin School of Business at Pace University. In fact, a successful fundraiser can be a sign for an owner that their business is still worth fighting for.

Read the full Pymnts article.

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