Engineering and Business: Collaboration in Education

Brooks G 3047_head_shotThis post from Earl D. Brooks II, Ph.D., president of Trine University and member of the Indiana Chamber of Commerce board of directors, originally appeared in Inside INdiana Business.

The rapidly changing economic environment illustrates the importance of universities to provide both engineering and business programs with innovative curriculum. Such programs are essential because these students will be responsible for engineering, technology and business initiatives in the 21st century.

With that in mind, Trine University has created the College of Engineering and Business to focus on fast-changing economic needs while harnessing opportunities that exist and providing broader educational options.

It is imperative universities respond to circumstances within the contemporary climate of education. More high school graduates are entering college with college credits already earned, requiring universities to develop nontraditional options. While this can reduce student debt, we think universities should also strive to offer creative and unique curriculum to provide an even broader education. At Trine, students bringing credits can earn a bachelor degree in just three years, or opt to earn a bachelor degree and a master degree in four years in the 3 + 1 program.

Trine created three-year bachelor programs and went a step further to offer a one-year master’s degree program for both engineering and business students who choose to enter the 3 + 1 program. These students may earn a bachelor degree in any engineering major in three years and earn a Master of Science in Engineering Management (MSEM) in one year. Business concepts are the nucleus of the MSEM curriculum.

In comparison, students may earn a bachelor degree in any business major in three years and a Master of Business Administration in one year. The MBA curriculum includes engineering fundamentals. Both programs promote the cross-education model of preparing business and engineering students to collaborate and understand each other’s responsibilities for the success of the companies they serve.

Employers tell us there is a gap in the educations of engineering and business students entering the workforce. By responding to this concern, universities can better prepare their students for successful careers.

Engineers are excellent at developing devices and creating technology to advance their employers’ products and/or services, but often they are not equally adept at understanding business processes. Changes in the economic environment demand engineers possess business skills too. Engineering professionals of tomorrow must be self-sufficient business units, regardless of their position. The blending of engineering and business studies should foster this vision.

Traditionally, universities teach engineering knowledge and skills around manufacturing, technology support and product design. In Trine’s College of Engineering and Business, we teach these methods with the additional curriculum to build entrepreneurial skills crucial to develop economically relevant opportunities for business and technology. For example, engineering students of all disciplines can minor in business, preparing them for roles in engineering management, cost accounting, resource acquisition and leveraging, and financial risk management.

Similarly, business students must understand how engineering operations work and how successful engineering and technology companies operate. The curriculum for business students is enhanced by engineering-based courses on innovation, technology planning, development processes and patents. They must also understand the engineers’ perspective along with their problem-solving process and technical limitations they encounter. Businesses cannot sell goods engineers cannot produce and engineers should not produce goods businesses cannot sell.

Universities with a business school model that embraces the entrepreneurial spirit can promote initiatives and experiences to benefit business and engineering students. In Trine’s case, the Rhoads Center for Entrepreneurship along with Innovation One, an innovative service delivery framework within Trine, give business and engineering students the ability to work and learn together. Students team in a collaborative, hands-on environment to develop ideas and concepts along with business plans and more through private-sector projects secured by Innovation One.

Forging relationships between higher education and business and industry benefits students and employers. Such partnerships pave the way for internships, cooperative education and full-time employment. These opportunities enhance experiential learning, raise awareness of employers’ needs and expectations, and expand employment options for graduates.

Keeping pace with today’s fast-moving technologies and economy is the primary motivator in combining engineering and business studies. It is the educator’s responsibility to use a holistic approach to prepare students to be career-ready so they can make an immediate impact.

Isn’t That Sweet? Valentine’s Day Spending is Soaring

FWho loves you, baby?

Valentine’s Day spending will reach $18.9 billion this year, according to a survey by the National Retail Federation (NRF).

Gifts run the gamut, but candy takes the cake with consumers.

Here’s an excerpt from an NRF press release, which has the breakdown:

While most (53.2%) plan to buy candy for the sweet holiday, spending a total of $1.7 billion, one in five (21.1%) plans to buy jewelry for a total of $4.8 billion, the highest amount seen since NRF began tracking spending on Valentine’s gifts in 2010.

Additionally 37.8% will buy flowers, spending a total of $2.1 billion, and more than one-third (35.1%) will spend on plans for a special night out, including movies and restaurants, totaling $3.6 billion. Celebrants will also spend nearly $2 billion on clothing and $1.5 billion on the gift that keeps on giving: gift cards.

It turns out that Valentine’s Day isn’t just for lovebirds. Although 91% of those surveyed plan to indulge their significant others/spouses with gifts, 58.7% will dish out an average of $26.26 on other family members and $6.30 on children’s classmates/teachers.

Delectable chocolates, sweet gestures and a hearty economic impact – you’ve got to love it.

GUEST BLOG: Make Your Business’ Web Site Engaging, Intuitive and Professional

This guest blog about business web site design is the first in a series of informative posts presented by The Web Guys — a web design and digital marketing agency located in Carmel.

As the world becomes increasingly more digitized, a business web site is no longer optional. When looking for information, the average consumer’s first impulse is to head for Google — not the Yellow Pages. In the article “B2B’s Digital Evolution” on Google Think Insights, the author asserts:

New research from CEB’s Marketing Leadership Council shows that potential business customers are increasingly using digital channels to form opinions about major purchases. Today’s business buyers do not contact suppliers directly until 57 percent of the purchase process is complete. The challenge for marketers is to be present in these channels at all times with content that educates buyers and helps guide commercial decisions.

It’s important to realize, though, that not just any old web site will do. A well designed web site will have a higher conversion rate than one with a “one size fits all” approach, especially for younger, design-savvy visitors. Bad design shouldn’t happen to good companies, but all too often a business owner or manager will quickly slap up a sub par web site, bypassing the professional business, content and marketing expertise needed to drive traffic to the site and increase sales.

Web design companies know that in order to be truly effective, business web sites need to meet these three criteria: they must be engaging, intuitive and professional.

Every web site relies on visitor engagement to flourish; after all, it only takes a click of a button to leave a disappointing web site and look for greener pastures. Each company approaches engagement differently — some focusing on graphics while others rely on attention-grabbing content. The best sites usually are a combination of both of these elements.

Getting a visitor’s attention is one thing, but keeping it is quite another. A web site with navigation that takes more than five seconds to understand will confuse and irritate potential clients. Visitors should see a clear, intuitive path through the site. Avoid the trap of “Mystery Meat Navigation” – links that say “Click Here!” without any indication of where they lead. Consistent, clear labeling with call-to-action buttons that direct customers to get quotes, make purchases and contact businesses should stand out on every page.

Even an engaging, intuitive site can fall flat, however, if its design looks unprofessional to users. Consumers approach the Web expecting businesses to have professional, informative websites — not throwbacks to the 1990s. If you’re still relying on flashing animations, ticker tapes scrolling by and black text on lime green backgrounds to catch attention, a face-lift is long overdue.

When hiring a Web design agency to create a web site, business owners should research available options. Find an agency with experience, and ask detailed questions about the design process before committing to a partnership. For Indianapolis and Indiana business owners, working with a local company like The Web Guys enables them to provide optimal content paired with SEO services to reach their target markets.

First impressions are everything — and an unprofessional, confusing site will send potential customers running to the competition. Creating an engaging web site only requires a modest investment of time and resources but will generate traffic and new customers for years to come.

Next month, look forward to learning about the importance of having proper web site visibility on Google, Yahoo! and Bing!

Chamber’s Top Legislative Priorities in 2014

Eliminating business personal property tax, allowing employers to screen prospective hires for tobacco use and establishing a work share program are among the top legislative priorities for the Indiana Chamber of Commerce in 2014.

“In many categories of commercial and industrial property tax, Indiana is among the very highest states in the country. That’s largely due to our taxing of machinery and equipment. It’s a remaining black mark on our tax climate – an area where we simply can’t compete,” declares Indiana Chamber President and CEO Kevin Brinegar.

“All of our surrounding states have done away with the tax except for Kentucky, which taxes personal property at a lower rate than Indiana. It’s past time to remove this burden that can greatly hinder business expansion and innovation.”

On the health care front, the Indiana Chamber is seeking to repeal what is termed the smokers’ bill of rights for prospective employees.

“This is an intrusion into the rights of employers in making hiring decisions. Holding smoking up to the same standards as we hold discrimination based upon race, gender, religion and ethnicity seems arbitrary and without justification,” Brinegar offers.

“There are other behaviors (such as substance abuse and having a criminal record) which are also personal choice and over which employers do have discretion in hiring decisions; this reinforces that the state’s protection for smokers is unnecessary and not well founded.”

One policy the Indiana Chamber believes would benefit employers, employees and the state is a work sharing initiative that would allow employers to maintain skilled, stable workforces during temporary economic downturns.

“Employers would be able to reduce hours without layoffs and provide unemployment compensation to partially compensate workers for their lost hours. Then when circumstances improve, employees could return to full-time work status for the company,” Brinegar explains.

“What’s more, a federal grant is available for three years to pay for the cost of the program. It’s a positive scenario for all parties.”

When it comes to K-12 education, Brinegar says the Indiana Chamber will continue to push for the absolute best academic standards for the state.

“That’s the bottom line. We need to improve student learning, meet the essential college- and career-ready requirement and have an appropriate student assessment system. Those elements all currently exist within the Common Core State Standards program, which we continue to fully support.”

Below are the Indiana Chamber’s top legislative priorities. The complete list is also available on the Indiana Chamber web site (www.indianachamber.com).

CIVIL JUSTICE
Support regulating the practice of lawsuit lending, in which a third party provides a plaintiff a cash advance loan while the legal case is pending. In turn, a plaintiff agrees to repay the advance (which is usually at a high interest rate) from the lawsuit proceeds. This practice complicates the legal process by forcing more cases to go to trial because the plaintiffs can’t afford to settle due to their repayment agreement with the lender. In turn, this causes more and more Indiana businesses to pay expensive legal fees. This lending practice is legal in most states, but regulation and transparency do not exist in Indiana.

ECONOMIC DEVELOPMENT
Support a voluntary vehicles miles travelled (VMT) pilot program as a potential replacement for existing fuel taxes. With Indiana’s already insufficient fuel tax revenues for roads/transportation trending down and more fuel efficient and electric/hybrid vehicles on the roads, a new funding mechanism for road maintenance needs to be found. Owners of alternative-fuel vehicles, including electrical vehicles, should pay for the roads they use just like other drivers. Voluntary VMT pilots in other states are currently taking place and Indiana cannot afford to ignore this potential road funding alternative.

Support expanding the patent-derived income tax exemption to the pre-patent phase. This incentive change would allow innovative, high-tech businesses that typically pay high wages to qualify during the earlier patent-pending phase of the (often long) patent application process, thus carrying forward any credit. Many emerging businesses would find this helpful in capitalizing their start-ups and expanding hiring. (Current law states you must have had a patent issued by the federal government before you can apply for the exemption.)

EDUCATION
Support maintaining high-achieving academic standards, such as the Common Core, and allowing the State Board of Education (SBOE) to determine student assessments. Indiana needs standards that improve student learning and meet the college- and career-ready requirement. The testing component of the standards can best be determined by the SBOE.
Support a framework for the future development of publicly-funded preschool initiatives for low-income families. There is critical need for improved preschool opportunities, especially for low-income children whose families may not have the means to provide a high-quality preschool experience or to provide needed learning opportunities in the home. The Indiana Chamber supports publicly-funded preschool programs that are: focused on those families in greatest need, limited to initiatives that maintain parental choice, focused on concrete learning outcomes and integrated with reforms at the elementary school level that will maintain and build upon the gains.

ENERGY/ENVIRONMENT
Support a water policy to stabilize our economic future and effectively compete with other states. A policy/plan is needed in order for the state to effectively manage its significant water resources, as well as to ensure delivery of an adequate, reliable and affordable supply of water.

HEALTH CARE
Support repealing the smokers’ bill of rights for prospective employees from the Indiana Code. The Indiana Chamber believes that all employers should have the right to choose whether or not to screen and/or hire prospective employees who use tobacco products. Since employers are footing most of the bill for health care costs for their employees, they should be able to have some discretion in determining whether new employees use tobacco products or not.

Support reinstating the wellness tax credit. The Indiana Chamber supports this incentive to start a wellness program, which can increase attendance, boost morale and productivity, as well as positively impact health care coverage costs.

LABOR RELATIONS
Support a work sharing program that will allow employers to maintain a skilled stable workforce during temporary downturns. Employers then could reduce hours without layoffs, enabling workers to keep their jobs – which hopefully could be returned to full-time status once economic circumstances improve. Also part of the equation: Unemployment compensation to partially compensate workers for their lost hours.

LOCAL GOVERNMENT    
Support common sense simplification and reforms to local government structures and practices. Creating the option for counties to have a single county commissioner and county councils with legislative and fiscal responsibilities is one that several Indiana counties desire. There should be incentives to reward local government efficiencies and performance in the delivery of services to taxpayers.

TAXATION
Support legislation to reduce the dependence on the taxation of business machinery and equipment. This tax discourages capital investment, places a disproportionate property tax burden on businesses and puts Indiana at a competitive disadvantage with surrounding states that have eliminated it or are moving to do so.

VIDEO: A Discussion About Northwest Indiana

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NWIndianaLife.com recently spoke to our president, Kevin Brinegar, about the key issues facing the northwest Indiana business community. We appreciate the opportunity, and here is their synopsis of the 21-minute interview.

In this interview, Kevin Brinegar of the Indiana Chamber of Commerce discusses the Chamber's relationship with Northwest Indiana. He talks about how important the Region is to Indiana as a whole, given the proximity to Chicago and the variety of infrastructure in place for transportation and industry. He goes on to discuss some of the recent developments coming out of the Region, including the Illiana Expressway and how it will improve traffic flow in and out of the area, as well as the expansion of the Gary Airport, lakefront developments, and how the RDA is helping with improvements on a regional level. Next, he covers some of the positive opportunities coming out of Gary in the future, and how the revitalization efforts are helping the future of this strategically located city. Kevin then talks about the business climate in Indianapolis, and how visionary leaders across industries have helped foster a thriving area of economic growth. He attributes this growth to Indiana having one of the best, most stable climates for business growth, and how well the state has been ranked overall. He sees Indiana's economic future in the hands of the Chamber of Commerce, helping to grow the economy over long periods and directing long-term planning for the years ahead. He goes on to discuss how the Indiana Chamber of Commerce distributes information to the people of Indiana, through emails, newsletters, magazines, blogs, twitter, and more. Some plans the Chamber of Commerce have been implementing include the Indiana Vision 2025 plan and covering the cost of preschool for families to help prepare the next generation. He sees the Porter County Career and Tech Center as a model for engagement with employers as student are learning trades in school.

D.C. Fly-in Helping Hoosier Business Leaders Connect with Washington

Policy decisions taking place in Congress have a tremendous impact on Hoosier businesses. That's why Chamber representatives and Indiana business leaders embarked yesterday on the 2013 D.C. Fly-in.

Participants have the opportunity to speak with their representative and senators during a panel discussion, moderated by Gerry Dick of Inside INdiana Business, and at a sit-down dinner. Day two features visits to congressional offices to continue the dialogue. The key agenda items that will be discussed are comprehensive tax and regulatory reform, as well as principled, pragmatic immigration reform.

New this year, the Indiana Chamber is partnering with several local chambers to present a unified voice. We're grateful the Chambers from Carmel, Fort Wayne, Terre Haute, Warsaw (Kosciusko County), Southern Indiana (One Southern), Indianapolis and Evansville have joined us.

"It is important to be able to review vital issues with our congressional leaders. It is also a great opportunity to build relationships with members of Congress and their staff," explains Cam Carter, Indiana Chamber vice president of economic development and federal relations.

The Chamber would like to especially thank our D.C. Fly-in sponsors: Build Indiana Council, Duke Energy, Faegre Baker Daniels and Zimmer, Inc.

Work with the Military? We Want to Know

We'll celebrate the contribution of Indiana businesses to the U.S. military at our 24th Annual Awards Dinner on Nov. 12.

If your company works with the military, we want to know so we can possibly honor you at the event. Please let us know via www.indianachamber.com/military. Hopefully we'll see you at the dinner! It should be an enjoyable and moving fall evening in Indianapolis.

Chamber Scores Hoosier Legislators on 2013 Voting Records

The Indiana Chamber of Commerce handed out scores today to all 150 state legislators for their voting records on pro-economy, pro-jobs legislation during the 2013 General Assembly. The numbers, released in the organization’s annual Legislative Vote Analysis, also contain a two-year total for each legislator.

The 2013 scores range from 44% to 100%. House Speaker Brian Bosma (R-District 88 of Indianapolis), who votes at his discretion and therefore was scored on fewer bills, was the lone perfect mark. The highest full-time voting record for 2013 was Rep. Ed Clere (R-District 72 of New Albany) at 97%. The top senator was Joe Zakas (R-District 11 of Granger) at 87%. Last year, there were 15 legislators with 100%.

The reason for the slightly lower vote scores overall is the type of public policies on the docket, observes Indiana Chamber President and CEO Kevin Brinegar.

“The issues in 2013 were more complex and less partisan in nature. Two examples involved the Common Core academic standards and the ratepayer protection for the Rockport synthetic natural gas plant. Both were highly complicated – containing various provisions – and had significant supporters and opponents in both parties. This could very well be a sign of things to come.”

All scores and the full report are available at the Indiana Chamber’s web site at www.indianachamber.com/lva.

Brinegar also points out that the Senate scores, on average, were notably lower than in recent years. “That happened because the Senate watered down several crucial bills or simply refused to move other pro-jobs bills altogether.

“What’s more, the gap between the top (87%) and bottom (60%) scores in the Senate was closer this year, as Democrat scores increased overall while Republicans went down,” he notes.

“All in all, however, it was another successful session for Hoosier businesses and their workers. Legislators, for the most part, voted to grow jobs and move our state forward – and the results show it.”

A total of 19 legislators also received a star designation for their significant efforts on issues deemed of critical importance or their overall leadership. Among them: Speaker Bosma and first-term House Minority Leader Scott Pelath (D-District 9 of Michigan City) who together championed the Indiana Career Council legislation.

Says Brinegar of Pelath: “He brought a breath of fresh air to the House and it was noticeable. From our perspective, things were much more focused on policy issues than political issues.”

New this year in the vote descriptions is a 2025 icon next to those bills that directly reflect the goals contained in the Indiana Chamber’s long-term economic development plan, Indiana Vision 2025.

“We do the Legislative Vote Analysis to keep Hoosier employers and citizens informed about what’s going on at the Indiana Statehouse and how their legislators are voting on issues vital to Indiana’s economic future. This report makes it clear which legislators support pro-job growth and pro-business issues, and which legislators do not,” Brinegar explains.

Legislators who score 70% or greater for the most recent two-year voting period are eligible for endorsement by the Indiana Chamber’s political action committee, Indiana Business for Responsive Government.

Bills used in the report were selected based on their significant impact to the state’s economic climate and workforce. Lawmakers are notified of the Indiana Chamber position and reasoning on these bills through various communications during the legislative session – and prior to key votes being taken. Only floor votes for which there is a public record are used in the Legislative Vote Analysis.

Copies of the Legislative Vote Analysis report are sent to all legislators and Indiana Chamber board members, and made available online for all businesspersons, community leaders and citizens.

This marks the 29th year the Indiana Chamber has measured state legislators’ voting performance on bills that reflect the organization’s public policy positions.

U.S. Chamber Honors Pro-Business Members of Congress

The U.S. Chamber of Commerce recently honored members of Congress (252 in the House; 48 Senators) for their pro-jobs, pro-growth stances with the annual Spirit of Enterprise Award.

“In the face of high-stakes politics and difficult choices, legislators from both parties provided America’s job creators with a strong voice in Congress,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “This award recognizes these men and women for consistently demonstrating their support for pro-growth policies.”

The Chamber’s prestigious Spirit of Enterprise Award, in its 25th year, is given annually to members of Congress based on key business issues outlined in the Chamber publication How They Voted. Members who support the Chamber’s position on at least 70% of those votes qualify to receive the award.

The Chamber scored Congress on 8 Senate and 12 House votes in 2012, including reauthorization of the Export-Import Bank of the United States, the establishment of Permanent Normal Trade Relations (PNTR) with Russia, and the reauthorization of surface transportation legislation. Also scored were votes to repeal onerous provisions in the Patient Protection and Affordable Care Act, improve the process by which regulations are promulgated, and better secure the United States from cyber threats.

To view a complete list of the 2012 Spirit of Enterprise recipients, please visit www.uschamber.com/soe.

Those from Indiana are:

INDIANA
Sen. Dan Coats
Sen. Richard G. Lugar
Rep. Joseph Donnelly (IN-2)
Rep. Marlin A. Stutzman (IN-3)
Rep. Todd Rokita (IN-4)
Rep. Dan Burton (IN-5)
Rep. Mike Pence (IN-6)
Rep. Larry Bucshon (IN -8)
Rep. Todd Young (IN-9)

Start-up Founder Laments Simple “For-Profit” Approach

Start-up cofounder Rand Fishkin has an interesting post on his blog about how simple "for-profit" thinking may not be optimal if the view is just short-term. I'd argue some start-ups aren't profit-focused enough sometimes, but his general outlook is worth noting and he makes some valid points about the nature of doing business today.

Apple as a whole may be worth more, but Google’s trendline, particularly the past 6 months, is far more favorable. Fred’s assertion is that this stems from investors’ sophisticated understanding that Google controls so much of the data, software, and ecosystem around computing. Google’s mission isn’t to make as much money as possible, certainly not in the short term anyway. Google is aiming for total domination of their (ever-expanding) areas of focus. Revenue and profits are merely a helpful side-effect of these efforts.

Later in the week, courtesy of Dan Ariely, I watched this video about Hancock Bank’s remarkable $1.4Billion growth following Hurricane Katrina (it’s worth watching all the way through, but if you don’t have 6 full minutes, start at the 3:44 mark).

The mission of making money isn’t just boring and stale. It’s hard to get excited about. It’s hard to get behind. It’s hard to build a fan-base around. It’s hard to hire for. It’s hard to scale. And it’s hard to stick with something through the muck of despair and failure that inevitably occur if you’re not pursuing something bigger than yourselves – bigger than money.

I don’t mean to suggest that those who relentlessly pursue wealth at the cost of all else don’t occassionally succeed. But I would argue that most businesses that have changed the world in the technology age have been pursuing a mission beyond the financial.