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  • The Devaluation Dilemma | BizNews
    in oil prices a slowdown in the Chinese economy and sluggish consumer and industrial demand in industrialized nations is whipsawing Latin American economies especially large commodity producers such as Argentina Brazil Chile Colombia Mexico and Peru Not surprisingly Latin American GDP is expected to grow less than 1 in 2016 with Brazil and Venezuela continuing to post negative growth rates There is nothing on the horizon to seriously challenge this doom and gloom scenario Rather than address the real causes of economic conditions that trigger currency devaluations and respond with viable remedies political leaders often turn to scapegoating usually casting the blame on other nations For example in September 2010 Brazil s Finance Minister Guido Mantega used the term currency war with reference to monetary policies implemented mainly by China Japan Thailand South Korea Colombia and other countries to generate an artificial devaluation of their currency in order to achieve a cheaper more competitive domestic economy that may be attractive to foreign investors as well as to be able to withstand the 2008 economic crisis More recently the term currency manipulation has been bandied about most prominently among a number of U S presidential candidates These contenders assert that China specifically undervalues its currency to gain an unfair advantage in global trade However devaluation and revaluation are the prerogative of sovereign monetary authorities The U S in fact manipulates its own currency through interest rate manipulation As economist Matthew J Slaughter points out in today s globally networked economy trade competitiveness tends to vary little with the movement of any one currency Admittedly however the decline in China s yuan is fueling turbulence in financial markets across the world and could well unleash a cycle of competitive devaluations of currencies How would a series of currency devaluations impact Latin America s private sector Large corporations such as JBS Cemex Argos Techint and Cencosud have the wherewithal to weather economic recession and financial volatility while small companies especially microenterprises that struggle for survival in even good times will find the business environment even more challenging But what about new businesses Given the explosive growth of new business formation NBF in emerging markets particularly Latin America and the emergence on technology based entrepreneurial ecosystems in major metropolitan areas throughout the Hemisphere this question is of special importance In a recent study colleagues at Colombia s EAFIT University and I examined 30 emerging markets including a number from Latin America during a seven year period to determine the impact of devaluation on NBF We found that while devaluation clearly boosts NBF the effect is not lasting over time and loses significance after two years even sooner if a country s competitiveness is not strong to begin with Luis Videgaray Mexico s finance minister opined about competitive devaluations in a recent speech at the Foreign Ministry in Mexico City It s frankly a perverse process because at the end of the day if all countries engage in a competitive devaluation no one becomes more

    Original URL path: http://biznews.fiu.edu/2016/01/the-devaluation-dilemma/ (2016-02-17)
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  • How The Rest Of America Can Compete With Silicon Valley | BizNews
    new ventures many areas around the world are seeking their own path to success Mainly they spend government money to fund new research labs under the mistaken assumption that research in the labs is more important than development on the streets Or they encourage and finance venture capital funds under the mistaken assumption that venture capital from hard nosed financiers is more important than leadership from smart entrepreneurs to create successful ventures and that risk capital is the ultimate new business generator The reality is that you need it all and you need it in a combination better than anyone else especially better than Silicon Valley By all I mean technologies entrepreneurs financiers engineers sales people and other experts who can build great companies from scratch And most importantly you need to attract or develop the best in the world in order to beat the world beaters coming out of Silicon Valley This means the other areas need to beat Silicon Valley if they are going to directly compete against it They will not succeed because right now Silicon Valley VCs have more high risk money to invest more great opportunities to choose from and most importantly more guts to beat the meek And Silicon Valley still attracts the best and brightest of the world So beating Silicon Valley is a tall order But it is imperative that the rest of the world compete so that all the wealth in the world is not concentrated in Silicon Valley We need this so the rest of the world is not mired in unemployment and poverty or suffer from mass migration to Silicon Valley Rather than a frontal attack I would suggest that the rest of the world develop a complementary strategy where capital is not central to success since Silicon Valley is still the greatest in capital intensive strategies What the rest of the world needs to develop is a capital efficient strategy that is based on achieving more with less The only way to do this is by developing great entrepreneurs i e by placing the development of entrepreneurial leaders at the core of the strategy rather than by focusing on technologies or money Will this work Yes it has 76 of the billion dollar entrepreneurs in my database are outside Silicon Valley And 91 of them did NOT use venture capital compared with only 12 in Silicon Valley This group is composed of great entrepreneurs and they became great leaders without any help from anyone They developed capital efficient strategies to build ventures without venture capital and they did this until they reached the Aha stage At Aha about nine percent got venture capital to grow The rest did not They continued to grow and dominated their industries without venture capital MY TAKE Silicon Valley s strength is in capital intensive new venture development The rest of the world should stop trying to beat Silicon Valley at its own game What will work is building a complementary strategy The

    Original URL path: http://biznews.fiu.edu/2016/01/how-the-rest-of-america-can-compete-with-silicon-valley/ (2016-02-17)
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  • Entrepreneur gains clarity and confidence from SBDC at FIU. | BizNews
    set the wheels in motion to develop a roadmap for the company and to set clear goals for its success In the space we re occupying there hasn t been a company that has done what we re doing for the Caribbean American community said Thompson a popular South Florida personality With the help of the SBDC at FIU we re finding our way developing a business plan finding investors and figuring out our next steps Blondie Ras specializes in creating original television content designed to open a window into Caribbean culture As a new company working with a limited budget Thompson explained that getting off the ground wasn t easy The seven part series Taste the Islands which debuted in April 2015 became the first Jamaican produced and hosted program to air nationwide on independent PBS stations and on Create TV Island Origins which debuted in late 2015 is broadcast in South Florida on BECON TV Previous projects have aired on South Florida s SFL TV The CW and on cable stations throughout the Caribbean We need to give investors and ourselves a clear picture of what we want to do over the next few years to grow the business and make it a viable company Thompson said We needed to address what we re trying to achieve how our investors are going to make their money and what our end game will be Thompson whose background is in art architecture interior design and singing learned about the SBDC at FIU from a friend who had worked with the group In early 2015 she applied online for assistance from the organization They took care in pairing me with a consultant who knows about this particular industry Thompson said He gave me guidance confidence clarity and focus It wasn t a hand holding exercise I had to do my homework The transition from artist to business owner was one of the biggest challenges Thompson faced getting caught up in the creative component and not paying enough attention to the business of your business The SBDC at FIU consultant made Thompson take a serious look at the industry landscape identify how Blondie Ras plans to give customers the value they need and determine how the business will grow It made everything very real what are you going to do with the investments you get how are you going to satisfy that investor how is money going to come back into the business Thompson recalled We worked on turning the business into a real business not just running it as something that creative people do Today Thompson s focus is on connecting with potential investors The tough questions have been asked and answered forms have been filled out the must have steps have been taken and Blondie Ras pitch deck is nearly finished and already attracting attention I m really impressed with the status of the business and with growth in myself said Thompson I know the investment is coming and a

    Original URL path: http://biznews.fiu.edu/2016/01/entrepreneur-gains-clarity-and-confidence-from-sbdc-at-fiu/ (2016-02-17)
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  • Hollo School celebrates holidays, and a top faculty achievement. | BizNews
    the Metropolis Ballroom at the downtown Epic Hotel Along with their refreshments guests enjoyed seeing the evolving Miami skyline and the robust development that drew many to the profession to begin with William G Hardin III As it turned out braving the rain was worth it Hollo School director William G Hardin III and associate director Isabel Lopez Miranda had a surprise announcement the school was just ranked first in the U S and second globally for faculty research in a study to published in the Journal of Real Estate Literature Everybody was exhilarated and really happy said Eileen Cardelle who is an alumna of the FIU Master of Science in International Real Estate program as well as MSIRE Admissions Operations Development Manager and Advisor to Real Estate Student Association RESA at FIU Our faculty is amazing Attending the party were some of the professors cited in the study whose contributions helped Hollo earn the top designation Hardin Zhenguo Lin Eli Beracha and Zhonghua Wu No surprise to some Hardin said that given the quality of the Hollo faculty the high ranking was not a bolt from the blue Our faculty are very attentive to the research in the field and who is doing this research he said To get an article published in a peer reviewed academic journal is an arduous task The acceptance rate at many journals is in the 10 percent range He added that faculty research is more than carrying out and writing up a study In academic research the goal is to provide new insights So by doing research and by reviewing peer research active researchers are way ahead of the learning curve he said What s more research today goes beyond academia Hardin noted pointing out that real estate research impacts the investment world as institutional investors such as pension funds hunger for intelligence about real estate investment and market trends The advantage of having top notch professors wasn t lost on students in attendance I didn t know what to expect when starting a new program said Enrique Piñeiro who will graduate in the summer with a master s in international real estate I have been impressed and astonished by the caliber of what we are learning from those professors It s incredible Piñeiro director of property management and leasing at the Coral Gables based Allen Morris Company is an FIU alumni having earned his undergraduate degree in real estate in 2003 and serves on the FIU alumni board As an example of the real world impact of faculty research Piñeiro said he recently cited a study by one of his professors Beracha in a work place presentation about Florida markets and real estate momentum Technology is changing our industry and there is a plethora of research he said It s important to find it and understand it it s great to know we have people like that working at FIU Sharing Twitter 0 Facebook 54 Google 0 Linkedin 23 Email this article

    Original URL path: http://biznews.fiu.edu/2016/01/hollo-school-celebrates-holidays-and-a-top-faculty-achievement/ (2016-02-17)
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  • Over 1,000 students awarded business degrees at December 14 commencement ceremonies. | BizNews
    Undergraduate School January 11 2016 Celebrate Jubilation filled every corner of the U S Century Bank Arena on Monday December 14 2015 as friends and relatives along with FIU President Mark Rosenberg Acting Dean Jose Aldrich and the business school faculty witnessed 1 064 students in the College of Business at Florida International University FIU being conferred with a business degree In the afternoon commencement 652 business students in the R Kirk Landon Undergraduate School of Business had the opportunity to step forward to receive their bachelor s degree The National Anthem and the FIU Alma Mater were performed by business instructors S Christopher Ellis and Donald Roomes At an evening commencement ceremony the same day 411 students from the Alvah H Chapman Jr Graduate School of Business were honored for earning a master s degree Jun Yang was awarded a Doctor of Philosophy in Business Administration College employees add degrees to their list of accomplishments Denise Codorniu Denise Codorniu MBA 15 BS 11 earned a Corporate MBA degree She is the coordinator of Administrative Services in the Department of Finance and Administration for the College of Business Natalie Gonzalez BA 15 a marketing coordinator in the Marketing and Communications Department earned her Bachelor of Arts degree in English In January Gonzalez will join the department full time Omar Jesus Larrazabal Gonzalez MS 15 in IT support and a web developer received his Master of Science degree in Telecommunications and Networking Sasha Maldonado Sasha Maldonado MS 15 BBA 10 a student services manager in the Corporate MBA office received a Master of Science in Adult Education Human Resource Development Liezel Maria Quintana Liezel Maria Quintana MBA 15 BBA 11 an administrative coordinator for the Office of Executive Professional Education received her Master of Business Administration degree Claudia Suarez MSHRM 15 BA 12 an Instruction Designer I in the Chapman Graduate School earned her Master of Science in Human Resource Management Constance Sodjiedo BS 15 a student assistant for the Pino Global Entrepreneurship Center Small Business Development Center received her Bachelor of Science degree in Finance and Business International Honors She will be moving to New York in July for a position with JP Morgan in their Treasury Services Division College of Business faculty members l to r Deanne Butchey Joel Barber Paul Black and Shahid Hamid College of Business faculty members back row l to r Raymond Rody Bruce Seaton Carlos Parra Gregory Maloney Rafael Soltero front row l to r Gladys Simpson Jaclyn Tanenbaum Yi Ju Chen School of Accounting faculty members Teresita Brunken Desiree Elias and Jimmy Carmenate Sharing Twitter 0 Facebook 53 Google 0 Linkedin 69 Email this article Print this article Authors Jane Schreier Jones Tags Claudia Suarez Commencement Donald Roomes José Aldrich S Christopher Ellis Denise Codorniu Natalie Gonzalez Omar Jesus Larrazabal Gonzalez Sasha Maldonado Liezel Maria Quintana Constance Sodjiedo Latest News Raise your glass to the Class of 2015 Grads enjoy Dean Aldrich toasting their success Amazon Going Global challenges FIU students at CUIBE

    Original URL path: http://biznews.fiu.edu/2016/01/over-1000-students-awarded-business-degrees-at-december-14-commencement-ceremonies/ (2016-02-17)
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  • SBDC at FIU gives a push to the maker movement. | BizNews
    Makerspace in Wynwood Moonlighter was formed by FIU alumni Daisy Nodal M Arch 12 and Tom Pupo M Arch 13 adjunct professors at FIU It offers local designers entrepreneurs and the public a space to co create prototype and retail new innovative products Daisy Nodal At the time we reached out to the SBDC at FIU we had no physical location we only participated in workshops summer camps school events and fairs said Nodal We were struggling to find funding to gain support from the city and to open a brick and mortar location She recalls that their original business plan was 60 pages long 40 of them just numbers They helped us downsize it to five pages with the correct and must have information as well as a rendering of what Moonlighter would look like An SBDC mentor worked directly with Nodal and Pupo and the team met monthly to discuss matters of banking finances and accounting Ultimately the SBDC at FIU helped Nodal and Pupo secure 50 000 in startup financing from the Miami Bayside Foundation for the facility and its programs We learned the importance of organization discipline and reviewing the financial information regularly said Nodal If you follow these tips you can see trends and catch any issues that need tuning up Well established and membership is growing Moonlighter opened its doors August 14 2015 As part of its offerings Moonlighter hosts weekly classes that cover everything from 3D printing vases to laser cutting textiles or using littleBits circuits to create a synth instrument We wouldn t be here without the SBDC at FIU Nodal said It wasn t just the funding that they helped us with it was the support they helped us look at the numbers follow the path we established and stay on track At Moonlighter members get access to tools that include a 3D printing lab a production model CNC Mill laser cutter vinyl cutter handheld 3D printing pens industrial sewing machines a circuits lab and wood working tools They can create anything from a custom sticker on the vinyl cutter to custom flat pack wood furniture with the CNC mill Makerspaces have gained traction as startups and freelancers seek affordable convenient and collaborative workspaces where they can network learn from one another and attend workshops and events Co working spaces also offer WiFi access to conference rooms and generous hours of operation Everyone now is opening their minds to something different and creating something new Nodal said By bringing all of the tools together in one place Moonlighter is creating a platform for makers to collaborate We ve given them the space to come and learn and build their own futures One of the best pieces of advice Nodal learned from the SBDC at FIU is something she recalls daily Keep going don t let obstacles stop you she added Along the way you re going to face challenges that will make you reconsider the idea but don t let that

    Original URL path: http://biznews.fiu.edu/2016/01/sbdc-at-fiu-gives-a-push-to-the-maker-movement/ (2016-02-17)
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  • Ocho Rios International finds growth opportunities with the SBDC at FIU. | BizNews
    4 2016 After nearly three decades in business the owners of specialty foods distributor Ocho Rios International are no strangers to the challenges and demands of growing a business Aston Lue In 2014 when a credit line became vital when negotiating with potential suppliers COO Aston Lue sought the guidance of the SBDC at FIU The quest for cash had drawn Lue away from the daily operations of the business and he needed to act quickly As the number of credit worthy customers grew we required a line of credit because the products we import are in high demand and require prompt payment said Lue who founded the company in 1987 We needed a cash outlay because many Far East suppliers are C O D Lue describes the SBDC at FIU mentor that worked with Ocho Rios as a wizard at financial matters helping secure a line of credit from Capital Bank Working closely with Lue and his partners they put Ocho Rios on the right track for continued growth The depth of experience of the consultants the relationships their work in technology marketing and social media can help us grow in this environment said Lue We re a dynamic team working on the present and the future of Ocho Rios International An immigrant from Jamaica Lue arrived in Miami in 1986 and opened Ocho Rios the following year operating out of a small self storage unit on Sunset Drive The company grew quickly as Jamaican Caribbean and Hispanic consumers expanded their footprint in South Florida Many sought out the flavors of home and Ocho Rios was there to deliver Its product lineup includes Ackee Cool n Sparklin R cucumber beverage green pigeon peas with coconut milk Scotch Bonnet pepper sauce jerk and curry seasoning jet fresh spiced buns Today Ocho Rios is a major distributor of Caribbean products throughout the US Canada and the Caribbean In 1995 they expanded into Atlanta establishing a distribution center with regional operations Advice was instrumental Lue recalls that traditional channels for adding suppliers and getting more products onto grocery shelves in markets throughout the U S weren t yielding the expected results That added one more component to the assistance Ocho Rios sought from the SBDC at FIU They analyzed our needs and worked to create a solution guiding us and giving us access to experts who could help us he noted It wasn t only about financial matters operations and growth strategy key factors included staying true to Ocho Rios mission and marketing the business via new and traditional media We learned that building relationships is just as important said Lue Ultimately in business success comes down to the relationship between the brand and the consumer Sharing Twitter 0 Facebook 21 Google 0 Linkedin 25 Email this article Print this article Authors Cynthia Corzo Tags SBDC Florida SBDC at FIU SBDC at FIU Ocho Rios International Aston Lue Latest News Entrepreneur gains clarity and confidence from SBDC at FIU SBDC at FIU

    Original URL path: http://biznews.fiu.edu/2016/01/ocho-rios-international-finds-growth-opportunities-with-the-sbdc-at-fiu/ (2016-02-17)
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  • Discipline and academic success make FIU Business students “Worlds Ahead”. | BizNews
    have changed lives Adeel Sobani An episode of double vision during Adeel Sobani s freshman year at FIU led to a diagnosis of chordoma a rare brain tumor After brain surgery radiation treatment and warnings that it would impair his ability to learn he was determined to prove skeptics wrong Adeel who graduated with a Bachelors in Accounting took five classes every semester during his time at FIU and remained on the Dean s List every semester He will now complete his third internship audit with PwC in its Fort Lauderdale Miami market and start his Master of Accounting at FIU in August 2016 Challenges in their home countries and immigration impacted three 2015 Worlds Ahead graduates and it quickly became one of their drivers to excel academically Anya Schmidt Poverty plagued the early life of Ghana native Anya Schmidt At 8 years old she began working at her sister s store to help the family following her father s death and learned that hard work and education would help her overcome life s greatest challenges At 12 years old when her grandmother gave her an opportunity to study in Germany Schmidt became the only black girl in her community and fought back against prejudice with a determined attitude Committed to succeed she learned the language and excelled in school Anya s next stop a prestigious job on Wall Street After successfully completing an internship program within the Corporate and Investment Bank at J P Morgan this summer she will be joining the firm full time in New York She credited her faith and family with guiding her journey Daniella Bernasconi Daniella Bernasconi moved to Miami from her native Peru when she was 13 Adapting to a new country with a different culture and language wasn t easy She recalls having to work harder than her classmates to succeed get good grades and get into college Business has always been on Daniella s mind making her determined to follow in her father s footsteps as an entrepreneur She is now the first in her family to graduate from a U S university receiving a Bachelor in marketing and international business This summer Daniella began a Market Development internship at MasterCard s Latin America and Caribbean headquarters and is hoping to remain full time at MasterCard upon graduation Zsofia Labady Zsofia Labady was recruited to the FIU women s basketball team in the summer of 2011 from her native Hungary where she won national accolades for scholarship and athletics While her parents remained in Hungary FIU provided the global community she was looking for Zsofia combined the rigors of varsity sports with a double major in accounting and international business graduating a semester early in December 2014 A disciplined approach enabled her to keep up with coursework and participate in group projects remotely Zsofia finished out her FIU hoops career with the 2015 season as she began the Master of Accounting program Zsofia will now join PwC s assurance practice in

    Original URL path: http://biznews.fiu.edu/2015/12/discipline-and-academic-success-make-fiu-business-students-worlds-ahead/ (2016-02-17)
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