Time.com: “The ‘Cash Cow’ of U.S. Universities: Professional Certificates Instead of Degrees”

In February, Pace’s Lubin School of Business and the Association of International Bank Auditors joined forces to introduce a six-month program leading to a Certified Compliance and Regulatory Professional certificate. Professional certificates are valuable for mid-career professionals who don’t have time to plod through the programs of study required for advanced degrees but who need to update their skills regularly.

An article written by Jon Marcus for The Hechinger Report and appearing on Time magazine’s website today focused on the boom in certificate programs at four-year colleges.
 
Certificate programs can be added and updated more quickly than conventional academic ones.  And they can help workers keep up with fast-changing fields such as information technology and intelligence, or get raises or promotions.
 
But a main reason for the explosion in the number of professional certificates at traditional universities, administrators concede, is that they bring in revenue, largely from mid-career students who pay the full cost without needing institutional financial aid, or whose employers reimburse them for tuition.
 
 
“A global economy and the rapidity of progress in technology require continuous education,” said Neil Braun, the dean and a former president of the NBC Television Network and CEO of Viacom Entertainment. “Certificate programs are very useful for people who see the world around them changing faster than they can keep pace.”
 
Students see the benefit of a professional certificate more narrowly: to distinguish them from other candidates for scarce jobs.

Crain’s New York Business: “Pace University launches entrepreneur lab”

Following the lead of schools like New York University and Columbia University, a group at Pace University has created a space for the school’s budding entrepreneurs to call home.

Downtown business school creates a space to foster entrepreneurialism among its students

By Emily Laermer
February 15, 2012
 
Following the lead of schools like New York University and Columbia University, a group at Pace University has created a space for the school’s budding entrepreneurs to call home. 
 
The lab, located on the third floor of 163 William St., will open Thursday. It was the brainchild of Neil Braun, the dean of the university’s Lubin School of Business. However, it will be available for use by all Pace students, not just those from the business school, he said. 
 
“It’s about more than starting companies. Entrepreneurship, to me, is a mindset, a way of thinking and interdisciplinary doing,” said Mr. Braun, adding that the lab will be open to students in all of Pace’s specialized schools, which include programs for computer sciences, business, education and health professions, as well as an arts and science program.
 
Before becoming dean of Lubin 18 months ago, Mr. Braun was the president of NBC Television Network and CEO and chairman of Viacom Entertainment.
 
Mr. Braun would not disclose the financials of the lab, but he noted that funding will come from the university. He said the university “reallocated funds that were used for other things that outlived their utility,” adding that he expects future successes from the lab will justify the cost.
 
The lab will include space for students to conference with investors, a studio for them to work and a large meeting room for speakers. Bruce Bachenheimer, the director of the lab and a professor at Lubin, says he plans to reach out to some of the thousand-plus Pace-area alums who self identify as entrepreneurs to be potential guests.
 
“This will be very student focused,” Mr. Bachenheimer said. “It’s important for me to see how the students are using the lab and what is providing them with the most value.”
 
In fact, Mr. Bachenheimer says he has seen an increase in student interest in entrepreneurship in recent years. He blames this on the economy and the high unemployment rate. Students see creating their own companies as a safer route.
 
“They also want to make something meaningful and create something,” he said.
 
Part of the inspiration for this lab stemmed from competitions at other schools like Stanford University and Massachusetts Institute of Technology. Locally, New York University launched its Innovation Venture Fund in 2010. This group offers seed money for startups built at the university. In November, the organization helped organize an Entrepreneurs Festival for its students.
 
NYU also partnered with Columbia University to organize hackNY, an group that aims to connect tech-minded students with startups. Columbia has its own lab, Columbia Technology Ventures, which launches about a dozen startups per year.
 
Pace will be hosting a ribbon-cutting event Thursday evening at the lab to mark its official launch. In addition to members of the Pace community, speakers for the reception include Gurbaksh Chahal, the founder, chairman and CEO of online advertising network RadiumOne, and Robert Walsh, the commissioner at the city’s Department of Small Business Services.

NEWS RELEASE: “Pace University Establishes Center for Global Governance, Reporting and Regulation; John Alan James, Recognized International Corporate Governance Leader, Named Executive Director

“At no time in history have international governance and regulation been more important to the business, government and public sector than they are today,” said Neil S. Braun, Dean of the Lubin School of Business, in announcing Pace’s new Center for Global Governance, Reporting and Regulation. John Alan James (pictured), an international expert on how corporations are governed, has been named the center’s inaugural executive director. James has over 40 years of experience as an author and consultant in Europe, Asia and the U.S., and as an instructor at leading European business schools such as INSEAD and IMD.

Pace University Establishes Center for Global Governance, Reporting and Regulation

 John Alan James, Recognized International Corporate Governance Leader, Named Executive Director

“Future Business Leaders Must Be Prepared for a Global Regulatory Labyrinth,” Says Neil S. Braun, Dean of the Lubin School of Business

Offers Certified Compliance and Regulatory Professional Certificate – Classes Begin February 2, 2012 

NEW YORK, NY, January 23, 2012 – At a time when European financial uncertainty is underscoring the impact of international businesses and economies on the U.S., the Lubin School of Business at Pace University has established a Center for Global Governance, Reporting and Regulation.

John Alan (Jack) James, a Lubin professor and major proponent of the teaching of comparative corporate governance, has been named the center’s inaugural executive director. James brings the center over 40 years of experience as an author and consultant in Europe, Asia and the U.S., and as an instructor at leading European business schools including INSEAD (Institut Européen d’Administration des Affaires, near Paris), CEI (Centre d’Etudes Industrielles in Geneva, Switzerland), IMD (International Institute for Management Development in Lausanne, Switzerland), and the Northwestern Kellogg European Management Program (Lausanne).  In the United States, he has been a guest lecturer at The Wharton School of the University of Pennsylvania, Cornell and Northwestern.   

Beginning February 2, the new Lubin center is offering a six-month program leading to a new Certified Compliance and Regulatory Professional (CCRP™) certificate.  The center also is planned to be an academic setting for professional organizations, business leaders and policymakers to exchange views on key issues facing world economies. It will provide thought leadership on current and emerging issues, conducting independent research and disseminating the findings, sponsoring guest speakers, hosting special events and participating in academic and industry conferences.

“At no time in history have international governance and regulation been more important to the business, government and public sector than they are  today,” said Neil S. Braun, the former President of the NBC Television Network and Chairman of Viacom Entertainment who is Lubin’s dean.

“Changes in the already-complex regulatory system are occurring daily in nations around the world,” Braun added. “The European Union is requiring new and tighter regulations, and the meetings of the G-20, the IMF and the Bank for International Settlements, Basel, are introducing numerous new ideas for achieving convergence and establishing a level playing field across the globe. Future business leaders must be prepared for a global regulatory labyrinth, and Lubin is building upon its track record in teaching comparative governance.”

James, an international expert on how corporations are governed, founded Management Counsellors International, S.A., a Belgian corporation, where he advised clients including 50 of the U.S. Fortune 100 major multinational corporations and foreign companies like Fiat, Henkel and Siemens on market entry strategies and operating in “foreign” regulatory environments. He is also the author of over 80 articles and 52 publications.  These include what are believed to be the first publications in English on how corporations are governed in Europe, detailing the stakeholder/workers’ voice approach used by all countries outside the U.S. and the British Commonwealth. 

Recalls James, “These loose-leaf text books were published in a series of three constantly updated versions entitled Company Law and Governance, Labor Law and Industrial Relations, and Employment Law and issued by my own publishing company in Brussels, which in 1979 was sold to Management Centre Europe, the European headquarters of the American Management Association. These ‘best-sellers’ became an important source of information for firms investing in Europe and a basis for integrating governance policies and regulations at the level of the European Commission (EC) — the executive body of the European Union (EU) — and national governments.” 

The new center’s first instructional program, a collaborative venture with the Association of International Bank Auditors (AIBA), leads to a certificate as a Certified Compliance and Regulatory Professional or CCRP™.  The comprehensive six-month, 75-hour, 25-session course — www.pace.edu/lubin/ccrp — will provide intensive regulatory strategy and compliance training to professionals in global financial services. The first students will include AIBA internal audit, compliance and internal control employees from the association’s membership in nearly 100 branches and agencies of foreign banks doing business in the United States.

James said developing the new CCRP™ program took four professors and eight industry professionals nearly 1,000 hours, adding that it is “the first collaboration by the AIBA with an academic partner.” 

International governance expert, author and global educator

James began his management consulting career with Hewitt Associates in Chicago and McKinsey & Co. in New York City. While consulting in Europe, from 1976 to 1980, he was appointed by Governor Ella Grasso as the State of Connecticut’s first Director of International Business and Economic Development, a part-time position. His activities resulted in moves of a dozen major European firms to build important subsidiaries in the state.

A frequent guest lecturer at business meetings around the world, James co-chaired the first UN conference on multinational companies and multinational trade unions at the International Labour Organization in ILO in Geneva in 1978. He was also an early contributor to the functions of the European Management Forum, now the World Economic Forum (WEF), in Davos.

A resident of Fairfield County, Connecticut, James earned his bachelor’s degree in political science from Northwestern University and an MBA from the University of Chicago’s Booth School of Business. In 2003, James joined Lubin as a Professor of Management, creating one of the first graduate business school courses in Comparative Corporate Governance Systems.  He also teaches a course on Regulatory Strategy.

In recent years he has been quoted as an expert source on corporate governance and regulation in such business publications as The Wall Street Journal, Financial Times and Investor’s Business.

Evolution from accounting standards

The new Center for Global Governance, Reporting and Regulation is an outgrowth of Lubin’s Center for the Study of International Accounting Standards, itself an outgrowth of Lubin’s 105-year record as a leader in the teaching of accounting.

The earlier Center sponsored major conferences between 2008 and 2010 on the impending convergence of U.S. and international accounting standards, and developed curriculum segments for Lubin courses on the global spread of such standards. That, in turn, led to a realization that knowledge of international reporting standards alone is not sufficient in the current business environment and that grounding in governance and regulatory compliance also is essential.

“This is one of the essential expertises of the future,” James underscored.

About the Lubin School of Business at Pace University: Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at Pace’s suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance. Its programs are designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

About Pace University: For 105 years Pace has produced thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. www.pace.edu.

About The Association of International Bank Auditors (AIBA): The AIBA membership consists of internal audit, compliance and internal control professionals of nearly 100 U.S. branches and agencies of foreign banks.  The mission of the AIBA is to foster the professional standing of its members by increasing their knowledge and capacities to carry out their responsibilities with respect to international banking.

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Pace Media Contact: Samuella Becker, sbecker2@pace.edu; 212-346-1637 (office) or 917-734-5172 (mobile)

CCRPTM Program Contact: BrianPew, bpew@pace.edu; 212-618-6444

Bloomberg Businessweek: “Executives Teaching in B-School”

Some academic theories might be best understood by the people who put those theories into practice.

Practitioners who teach have their failures as well as their successes on display for students. They also serve as a sounding board for students seeking practical career advice.

Business schools have come to value the practitioner’s perspective, and they are increasingly making room for those viewpoints on their staffs. Bloomberg Businessweek identified 25 top executives who teach/guest lecture, including Neil Braun, Dean of the Lubin School of Business.

Neil Braun: Viacom Entertainment

Who: Chief executive officer, Viacom Entertainment (VIA), 1988-94; president, NBC Television Network, 1994-98
Where: Pace University’s Lubin School of Business
What: Dean, guest lecturer

Braun joined a growing list of former executives tapped to run business schools when he was named dean of Pace University’s Lubin School of Business in June 2010. Braun also flits in and out of the classroom as a guest lecturer. He says he has his most rapt audience any time the discussion topic is M&A negotiations. During his time at Viacom, the company bought Blockbuster and Paramount Pictures. “Students hang on every word when you can tell them what was really going on,” he says of those deals in Bloomberg Businessweek.

U.S.News & World Report: “CEOs Teach in M.B.A. Classrooms”

Most CEOs spend the latter years of their professional lives giving presentations in high-pressure board rooms for select groups of middle-aged power brokers, not in lecture halls filled with green but eager business students. However, a few such as Neil Braun, Dean of Pace’s Lubin School of Business and former President of NBC Television Network, have opted to venture into the world of higher education … using their corporate experience to mold a new generation of top executives.

Neil Braun, dean of Pace University’s Lubin School of Business and former CEO of Viacom Entertainment: Having worked as the top executive at numerous firms—including entertainment giant Viacom—during his 33-year career, and no longer satisfied with the rewards of his day job, Braun told U.S. News & World Report that he yearned to impart the knowledge he’d gleaned to a younger generation. After searching for vacant administrative positions at business schools in the New York metropolitan area, he landed at Pace in 2010, where, in addition to serving as dean, he routinely meets with student leaders and gave guest lectures in eight classes during the past year on topics ranging from leadership to competitive strategy. 

Beyond the detailed advice he offers in those lectures, he advises all business students to learn to write well, to hone one very difficult analytical skill, and to familiarize themselves with areas of business outside of their specialty. Data analysts, for instance, should be able to freely converse with marketers about their duties, and vice versa, he says. 

“I wish somebody had clued me in to some of this stuff when I was young, and contextualized all the trauma I had to go through—like we all do—in trying to figure this out,” he says. “I’m not being naïve in thinking that just by telling them I’m going to save them from anything, but I do get E-mails and feedback from people that they took one or two really important things that have made a difference in their lives.”