Home Posts tagged Isenberg School of Management
Cover Story

Study In Entrepreneurship

 

Bob Lowry calls it his ‘list-in-the-back-pocket’ technique.

That’s because it concerns a list he used to keep his back pocket — a list of ideas about how to make his emerging chain of fresh-Mex restaurants, Bueno Y Sano, better and more responsive to customers. It wasn’t what was on the list at any given time that was important, but rather how he handled the discussions that came up with employees about these items.

“Especially early on,” Lowry explained, “when we had a million things to figure out, I would keep a list in my pocket of the things I observed around our operation that we could improve or change; if I had an idea, I’d put it on the list. We’d have more or less regular meetings — every couple of weeks, we’d sit down as a staff, and I would ask them for their ideas.

“I’d say, ‘what do we need to do?’ ‘What do we need to change?’ ‘How do we get more organized?’” he went on. “They would have their ideas, and half of their ideas were the same ideas that I had. But instead of saying, ‘I already had that on my list,’ I’d say, ‘good idea, we’ll do it.’ In that way, it’s their idea, not my idea.”

Lowry talks about this technique often, and especially with the students in the “Introduction to Entrepreneurship” class that he teaches at the Isenberg School of Management at UMass Amherst. He uses it to demonstrate the power of positive reinforcement, the kind that was drilled into him when he first read Dale Carnegie’s classic How to Win Friends and Influence People, which serves as the textbook, if you will, for that class.

“Back then, the food at UMass was terrible. Most universities were already off to the races, but UMass was still stuck with food that wasn’t that great. So everyone was starving.”

“That notion of making the other person feel that the idea is theirs is right out of How to Make Friends — it’s a chapter,” Lowry told BusinessWest, adding that positive reinforcement is just one of the principles he focuses on not only in the classroom, but in his business. You might say he practices what he teaches.

All of which has helped him take Bueno Y Sano from that single store he started with in Amherst back in 1995 to what could be called a chain.

There are now locations that he owns in Amherst, Northampton, South Deerfield, and West Springfield. There is also a location in South Burlington, Vt., managed by Lowry’s brother, Will; another in Springfield owned by a business partner; and a store in Acton, Mass., owned by Lowry’s stepbrother.

It’s a thriving enterprise — one that actually managed to increase sales at some of its locations during the pandemic — that keeps Lowry busy enough so that he’s unsure if and to what degree there will be more expansion.

“Those things tend to pop up out of nowhere — it’s an organic thing,” he explained, adding that there are ongoing discussions about another location in the Acton area. “We’re not in a rush to have a big company at all. We have enough restaurants; we might have more, we might not.”

These days, Lowry spends his time “troubleshooting,” as he put it.

That’s how he described the practice of driving back and forth between locations, talking with staff, dealing with problems and issues that may arise, and, yes, coming up with ideas that go on a list, one that now resides in his briefcase and not in his back pocket.

He’s still giving employees credit for the ideas that he had already written down on his list, and that’s one of many reasons he’s quite content with a personal and professional life that meets a basic requirement he set a long time ago — working for himself rather than someone else.

The West Springfield location in the Riverdale Shops

The West Springfield location in the Riverdale Shops is one of the later additions to the growing portfolio of Bueno Y Sano locations in Western Mass. and beyond.

“I knew I did not want to work for a company — it was deep within me … I just knew that wasn’t going to be fun for me,” he recalled. “I might have been wrong — I’m sure there are jobs out there that would have been fine — but still, it wasn’t what I wanted. And I knew that when I was 12. I knew I wanted to do fun stuff, and jobs didn’t seem like fun to me.”

For this issue, BusinessWest talked at length with Lowry about what he did want, and did get: the opportunity to work for himself. We also talked about what he’s learned and now passes on to students and a few mentors, especially about that concept of success in business, how it’s defined, and how it’s achieved.

As one might say in his industry, it’s food for thought.

 

Taste of Success

Lowry was quick to note that, at one time — soon after graduation from UMass Amherst — he did, in fact, have a job.

It was with State Street Bank as a mutual fund administrator.

“I got an interview through somebody’s girlfriend; she knew someone who could get me an interview,” he recalled. “They hired me because they needed people — they hired like 500 people a year. I wasn’t good at the job, but I didn’t die, though, and I would have been OK, but…

He voice trailed off, and he didn’t really finish the sentence, because he wasn’t in that job long before he came back to the Amherst area to visit friends who had not yet graduated. And it was on that trip that he famously spotted a ‘for-rent’ sign on a property in downtown Amherst and began thinking seriously about a burrito shop there.

Many in this region now know the story of how Lowry called the number on that sign, found out the location was already (or soon to be) under contract, but kept on pursuing the dream at another nearby location. With a rough business plan and a $20,000 investment from his father, the 24-year-old Lowry opened Bueno Y Sano just four months after he originally started thinking about his concept.

That thinking was blended with solid research in the form of surveys that revealed a real need for such an establishment, said Lowry, who noted that, upon opening, the Amherst location struggled mightily to keep up with heavy demand — and for a reason.

Indeed, this was 1995, years before UMass Dining reinvented itself and eventually earned a place near and then at the top of the annual rankings for best on-campus food.

“Back then, the food at UMass was terrible,” Lowry recalled, speaking from personal experience and anecdotal information. “Most universities were already off to the races, but UMass was still stuck with food that wasn’t that great. So everyone was starving.

“We couldn’t keep up — for years,” he went on. “Back then, we were doing three times the business we’re doing now in Amherst, adjusted for inflation. We were serving three times as many people back then as we do now, because UMass food is now some of the best in the world, so students don’t go out to eat as much.”

Still, the Amherst location, and the others as well, are faring quite well amid what has become a boom in Mexican fare, and especially fresh-Mex food, one that has helped fuel expansion of Bueno Y Sano well beyond its downtown Amherst roots.

Bob Lowry

Bob Lowry says he long ago learned the importance of positive reinforcement, and he passes that message along to those he teaches and mentors.

Indeed, while a location that opened in Boston not far from Boston University quickly proved a bust — “we didn’t do any business in the evening because BU had awesome food” — the others have generally thrived, although the location in West Springfield in the Riverdale Shops hasn’t generated the traffic that was anticipated.

“We’re not a college-town place,” Lowry explained. “It’s a very broad market that we serve. Mexican food … if it’s not the biggest sector right now, it’s going to be, and soon. And we’re fresh Mex, quick service, which has grown like a weed ever since the day we started. There are probably 250 fresh-Mex, quick-service places in Massachusetts right now, where back then, there were probably 10, including us.”

The popularity of fresh Mex certainly helped Bueno Y Sano weather the pandemic, said Lowry, adding that, in 2020, the company registered roughly 75% of the sales it would during a normal year by focusing entirely on takeout and benefiting greatly from an online ordering system that was put in place before COVID-19 but not used extensively until the pandemic arrived.

“The Acton and Springfield locations actually did better than they did the year before,” he explained, adding that the company continues to do a great deal of business via the takeout route, with perhaps 80% of sales coming that way, while before the pandemic, it was probably 50%.

 

Hot Stuff

Flashing back to the days when he conceived Bueno Y Sano, Lowry said fresh Mex was a solid idea and, as things have turned out, a solid business proposition.

But it was also a means to an end — an opportunity to do what he wanted and not do what, deep down, he knew he couldn’t do — work for someone else.

“The things that go with a job were not motivating to me,” he explained. “I wanted to be the boss. I wanted to make decisions and do the fun stuff if I wanted to.”

Elaborating, and putting to work a phrase one hears often these days, Lowry wanted a business he could work on, not in.

“The vast majority of entrepreneurs get stuck working in the business as opposed to on it, and that’s a big trick,” he told BusinessWest. “That was part of my vision from the very, very first thought: I’m going to work on it, and other people can work in it. And it’s going to be fun, and people are going to like working for me because I’m not going to step on my feet by discouraging people.”

Expanding on that thought, Bueno Y Sano has become the kind of business he can work on, not in, he said, adding that he’s involved day to day, but there isn’t anything approaching micromanagement. He has put aside time to do other things, like teaching entreptreneurship, which creates an important balance — and often more fun.

He said the class, which he’s been teaching since 2006, has several components, including a pitch contest, the textbook, and guest entrepreneurs (he’s one of them) who will share experiences from their ventures and adventures. Over the years, a number of students, maybe 40 to 50 by his count, have gone on to start their own businesses.

Lowry said the teaching has been … well, a learning experience for him while standing at the front of the classroom, one that has given him great clarity about what works in all workplaces, and especially his.

“When they’re the boss, most people have as their first reaction the thought that their job is to catch people doing things wrong and tell them about it. But with just a small adjustment in philosophy, they could understand that their job is to catch people doing things right and tell everyone about it. And if they did that, they would be much more successful.”

With that, he returned to his chosen textbook, How to Win Friends and Influence People, which is subtitled The Only Book You Need to Lead You to Success, commentary he agrees with wholeheartedly.

Slicing through its 288 pages, he said it provides a roadmap for being not necessarily a popular leader (although that, too), but an effective one.

“Don’t criticize, condemn, or complain,” he said, while listing some of the tenets he has long lived by. “Show people genuine appreciation; let the other person feel that the idea is his or hers; give people a reputation to live up to; avoid arguments; be a great listener. These are the things you need to do as a leader and business owner.

“I’m always learning to be a better listener, and I’m always learning to take advantage of positive reinforcement,” he went on. “When they’re the boss, most people have as their first reaction the thought that their job is to catch people doing things wrong and tell them about it. But with just a small adjustment in philosophy, they could understand that their job is to catch people doing things right and tell everyone about it. And if they did that, they would be much more successful.”

And while this approach, or attitude, is one that works for entrepreneurs, it does for everyone else as well, he noted.

“If I can help them see what works with people, then I will have succeeded,” Lowry said in conclusion. “Because all of them will use it in their lives, whether they’re entrepreneurs or not. Positive reinforcement works much better than negative reinforcement. If you take it to heart, you can enjoy management and help people grow. The success of the people in your business is your success.”

 

Bottom Line

Getting back to that list of ideas that he used to keep his back pocket and that now mostly resides in his briefcase, Lowry said that, during those staff meetings — both years ago and quite recently — he would often get around to some of those items he had written down that hadn’t been addressed to that point.

“Half the time, they had a better idea than me, but at the end, I would have a few ideas left on my list, and I would say, ‘what do you think about this, and what do you think about that?’” he explained. “People are much more open to things after you’ve listened to their ideas.”

That’s another lesson that he passes on to his students, many of whom share his lack of enthusiasm, if not fear, of working for someone else.

In his case, that fear led to opportunity, and a chance to not only be successful in business, but also impart lessons to others on how to do the same.

In both cases, Lowry has certainly been a class act.

 

George O’Brien can be reached at [email protected]

Education

Maintaining Momentum

Anne Massey

Anne Massey says that early on, she told faculty and staff at Isenberg that the pandemic was not to be looked at as “a short-term problem we’re just trying to solve.” Instead, it has been a learning experience on many levels.

 

When Anne Massey arrived at the Isenberg School of Management at UMass Amherst in the late summer of 2019, she came with a lengthy set of plans, goals, and ambitions for an institution that was steadily moving up in the ranks of the nation’s business schools and determined to further enhance its reputation.

The overarching plan was to decide what was being done right, what could be done better, and how the school could continue and even accelerate its ascendency with those rankings.

Massey was already making considerable headway with such initiatives when COVID-19 arrived just eight months later and turned normalcy on its ear. But she was determined not to let the pandemic create a loss of focus or momentum.

And almost 16 months after students went home for a spring break from which they would not return, she can say with a great deal of confidence that she has succeeded with that broad mission.

In fact, the pandemic may in some ways have even created more momentum for Isenberg, which is now the top-ranked public business school in the Northeast.

Indeed, those at the school have used the past 15 months as a valuable learning experience, said Massey, who was most recently the chair of the Wisconsin School of Business. She stressed repeatedly that this was a time, as challenging as it was, not to simply get through or survive, and as a homework assignment for her staff, she strongly recommended Ryan Holiday’s book The Obstacle Is the Way — The Timeless Art of Turning Trials Into Triumph.

“I said early on that we’re not going to be looking at this pandemic, and all the things that it wrought for us in terms of remote teaching, remote learning, and remote work, as a short-term problem that we’re just trying to solve,” she explained. “I said that we’re going to learn things, and we’re going to carry them over to when we came back and be better than we were in March of 2020.”

She believes the school will be better because of how it has learned to use technology to do things differently and in some ways better than before, but also because of the many experiences working together as a team to address challenges and find solutions.

“I said early on that we’re not going to be looking at this pandemic, and all the things that it wrought for us in terms of remote teaching, remote learning, and remote work, as a short-term problem that we’re just trying to solve. I said that we’re going to learn things, and we’re going to carry them over to when we came back and be better than we were in March of 2020.”

Moving forward, Massey said those at Isenberg, whether they’ve read Holiday’s book or not, are responding well to the notion of looking at obstacles as opportunities and not letting challenges, even global pandemics, stand in the way of achieving goals and improving continuously.

As she noted, this mindset will serve the institution well in the future as it and all of its many competitors prepare to return to normal, but not a world exactly like the one that existed 16 months ago.

“It was also obvious to me in March and April of 2020 that everyone was going to be forced to be remote, at least for some period of time,” she said. “We’d been in the online space for 20 years, so we were ahead of the game. But now, suddenly, everyone was going to be playing the game. They weren’t all going to be good at it; some of them still aren’t good at it, but think they are.

“But now, there are going to be more people joining this competitive space,” she went on. “And some of them have more resources than we do. So we needed to say, ‘we’re just going to keep plowing forward. We need to be better than they were because that’s the only way we’re going to maintain our competitive position.”

For this issue and its focus on education, BusinessWest talked at length with Massey about her challenging and, in many ways, intriguing first two years at the helm at Isenberg, and especially about how the school will take the experiences from the pandemic and use them to make the school, as she said, better than it was before anyone heard of COVID-19.

 

Getting Down to Business

The lawn signs were first introduced a year or so ago.

They say ‘Destination Isenberg,’ and were intended to be placed on the front lawns of the homes of students bound for the school — enrollment in which is increasingly becoming a point of pride.

While those first signs to be issued were technically accurate, many of the students didn’t have the Amherst campus as their actual destination because of COVID, said Massey, adding that that the latest signs — they’re at the printer now and will be distributed soon — speak the full truth: students will be back in the fall.

There will be a party in August to welcome them to campus, and planning continues for an orientation that will feature programs and events not only for freshmen but also the sophomores who couldn’t enjoy such an experience last fall because of the pandemic. As part of those celebrations, there will be recognition of the national-champion UMass hockey team, which included 15 players who are enrolled at Isenberg.

The students will be coming back to the ultra-modern, $62 million Isenberg Innovation Hub, which opened in January 2019 and sat mostly quiet for the bulk of the pandemic. They’ll be coming back to a school now ranked 53rd in the country by U.S. News & World Report when it comes to undergraduate programs (34th among public schools).

The ‘Destination Isenberg’ signs soon to grace lawns

The ‘Destination Isenberg’ signs soon to grace lawns across the country will have real meaning this year, with the school back to fully in-person learning this fall.

They’ll be returning to a school where enrollment continues to grow even as competition increases and high-school graduating classes shrink. “We have the largest incoming class ever,” Massey said. “We have more than we probably should have, but we’ll deal with it.”

But they won’t be returning to the same school. Indeed, as she noted, they’ll be coming back to, or joining, an Isenberg that used the pandemic as a learning laboratory of sorts, one that will stand the school in good stead as it continues its quest for continuous improvement and movement up the rankings in an even more competitive environment.

She said this work actually started before the pandemic, soon after she arrived on the campus. She started with a survey that went out to faculty and staff that included three key questions:

• ‘What unexploited opportunities do you see for Isenberg?’

• ‘What’s standing in our way of those opportunities?’ and

• ‘Given what you know, what do you think Anne Masse should focus on for the next year?’

She received a 95% response rate to that survey, and the answers provided considerable fodder for discussion at what would eventually be more than 30 meetings with various groups within the school, including faculty and staff.

She then developed five key priorities for maintaining and enhancing the school’s reputation for excellence and went “on the road,” as she put it, visiting alumni in Boston, New York, San Francisco, and other cities. These visits continued until the pandemic arrived, she said, adding that, while the road trips have to come to a halt, the work of developing these priorities, identifying areas in which the school needs to invest, and shaping all this into a strategic plan have continued unabated.

Getting back to the pandemic, Massey actually had considerable experience on her résumé in the realm of research regarding virtual teams and how they function. And that work came in handy during the pandemic, especially as it related to communication, coordination, and relationships among individuals in those teams.

“We have the tools and technology that support communication and that support collaboration and coordination of our work,” she explained. “But the relationship building and maintaining relationships is something that people often don’t pay attention to. They get wrapped up in the work, and not the nature of the team and the relationships amongst the team members.”

Flashing back to March 2020, when students, faculty, and staff were sent home for spring break, Massey said she knew they wouldn’t be coming back anytime soon and that all operations, from teaching to recruiting to development, would have to go remote.

“I knew that we had the tools, but what we really needed to focus on were the connections,” she told BusinessWest, adding that she soon launched what became knowns as the Dean’s Briefing, which, as that name suggests, was a briefing sent out to faculty and staff almost weekly.

“Sometimes it was a pat on the back, sometimes it was ‘I know how hard it is,’ sometimes it was personal, sometimes it was about what was going on at the university and what we thought the summer was going to look like and what the fall would look like; it was always about trying to keep people in the loop,” she said, adding that she encouraged the associate deans, the department, and others to do the same with their own group. “They needed to maintain communication that was positive and supportive.”

 

Driving Forces

At the same time, Massey emphasized the importance of the faculty engaging with students and helping them through a difficult and unprecedented time.

Because not all faculty members had taught online, or certainly to that extent, the school named five Isenberg teaching fellows, all of them experts in remote learning, who are assigned to one or a few departments and a cohort of faculty.

“They took the ball and ran with it,” Massey said, adding quickly that she wasn’t sure at first how this initiative would go over. “They had workshops, they had brown-bag lunches, they used Zoom, they coached people, they surfaced new best practices, they shared ideas … they even wrote a few research papers that have been published. They were phenomenal.”

Lessons learned from the pandemic and these teaching fellows will carry over into ‘normal’ times, she said, adding that she’s expecting to get back on the road in the fall and continue to push the five priorities for the school as it works to sustain and enhance its overall reputation for excellence, a key driver of those all-important rankings.

“They’re all about reputation in various ways,” Massey said of the rankings, of which there are many across several categories, from undergraduate offerings to part-time MBA programs. “The question that I asked over a year ago, and that I always ask, is ‘how might we sustain or advance our reputation for excellence in all we do? And excellence in terms of students and our quality of students, the quality of our faculty and their research, the placement of our students, what the recruiters think, and companies once students are working for them and they’re out a few years. Do they deliver the goods? All of that.”

Listing those priorities, which all intersect, she started with attracting exceptional students, which means more than those with the top GPAs. It also means achieving diversity and attracting students with a commitment to their communities, she said, adding that another priority is sustaining faculty excellence, especially at a time when business schools, and higher education in general, is facing what Massey described as a “looming retirement problem.”

“It’s becoming more and more difficult to attract and retain faculty; we’re not producing Ph.D.s at the rate that we probably need to,” she explained. “So I’m always thinking about how we can make this a good place for prospective faculty, and then, when we get them, how do we keep them? And how do we support them in their research efforts, and how do we support them becoming better teachers?”

Another priority is what Massey called “enabling career success,” which involves both current students and alumni, many of whom were impacted by the pandemic and the toll it took on employers in many sectors. To address this matter, she created an Office of Career Success and integrated the Chase Career Center with the school’s Business and Professional Communications faculty in an effort to expand services to alumni as well as current students.

Still other priorities include “creating global citizens and inclusive leaders” and “inspiring innovation in teaching and learning,” Massey said, adding that she wants Isenberg to be a significant player in business education, especially when it comes to advances in teaching and the use of emerging technology.

“How do we use 3D? What about augmented reality?” she asked, adding that these are just some of the questions she and others at the school are addressing. “One of our initiatives when it comes to inspiring innovation in teaching and learning is the creation of a ‘technology sandbox,’ a dedicated space where new and emerging technologies will be available for our faculty to play with and our staff to play with — because you can’t provide support for something if you don’t know how to use it — and for our students to play with.”

 

Positive Signs

Getting back to those lawn signs, Massey, who has one in her yard (her son attends the school), said they’re great exposure for Isenberg, especially outside of Massachusetts, where the name is somewhat less-known, but becoming better-known.

“It’s good to have them all over the country, and the students love them,” she said, adding that these are literal signs of growth and progress at Isenberg, but there are many others, from the record class for the fall of 2020 to its longstanding home at to the top of the rankings of public business schools in the Northeast — it’s been there since 2015.

There were signs of progress during the pandemic as well, she said, even if they’re harder to see. The school was determined not to lose momentum during that challenging time and to turn that obstacle into an opportunity.

Time will tell just how successful that mission was, but Massey already considers it a triumph for all those at the school.

 

George O’Brien can be reached at [email protected]

Economic Outlook

The Big Picture

Bob Nakosteen has an old saying hanging in a frame in his office at the Isenberg School of Management at UMass Amherst — the one he hasn’t been in but once since last March.

It reads: “You Can See the Future by Looking at the Past.”

Nakosteen, a professor of Economics at Isenberg, said he’s lived by those words, especially at this time of year, when he’s asked to try to forecast what might come over the next 12 months.

Only this time, that saying doesn’t hold. Indeed, while people tend to throw that word ‘unprecedented’ into the mix early, often, and sometimes when it doesn’t actually apply, one could certainly use it with regard to COVID-19, the economy, and any efforts to look into the crystal ball and make some projections.

“In virtually every situation I’ve been in before, you can pick out an historical situation that came close and give some perspective on what might happen next,” he said. “Now, you can’t at all. Even 1919 and the last global pandemic was different; there was lingering demand from World War I, and a lot of global agriculture had been shut down. That really bolstered United States agriculture; we were still predominantly an agricultural country. There were some circumstances that we can’t duplicate now.”

So if people can’t look to the past to project what will happen in 2021, how can they handle that assignment?

“Not very easily,” said Nakosteen, who noted there are always question marks going into a new year. This year, they come by the bushel bag, and cover everything from vaccines — how effective they’ll be and when they’ll be widely available — to overall consumer confidence, always a huge issue in determining which way the arrow will point; from the election of a new president to what’s happening in other countries, especially with regard to the pandemic; from the employment scene (specifically, how many of those millions of lost jobs will actually come back) to whether, and to what degree, Congress keeps printing money and dispensing it to those in distress.

Bob Nakosteen

Bob Nakosteen

With these vaccines coming online, once people get them, and they have confidence that other people have done the same thing, then you’ll likely see a pretty robust recovery, starting slowly and then accelerating. But, then again, we’re in completely uncharted territory.”

Add it all up, and there is simply too much uncertainty to make any real projections, said Nakosteen, adding that, while the country may well avoid another recession, or the dreaded ‘double-dip recession,’ as it’s called, the eventual shape of the recovery — which has been the subject of endless conjecture, with possibilities ranging from a V to a U to something like a Nike swoosh — is still be to determined. Obviously.

“What we could have is a W-shaped recovery,” said Nakosteen, offering another possibility, noting that, in this scenario, the economy would move back down again, hopefully not as bad as it did when it cratered last March, but eventually climb back up.

“With these vaccines coming online, once people get them, and they have confidence that other people have done the same thing, then you’ll likely see a pretty robust recovery, starting slowly and then accelerating,” he told BusinessWest, adding that the bounce-back might also take the more dramatic Nike swoosh shape. “But, then again, we’re in completely uncharted territory.”

When asked about the factors that will dictate the eventual shape of the recovery, Nakosteen said there are almost too many to count. They include:

• How much more stimulus money will be injected into the economy. Like most, Nakosteen said the recent $900 billion package approved by Congress will help, but it won’t be enough. When asked if the federal government could keep on printing money, in essence, he said he didn’t see why it couldn’t. “One of the things that happens during an economic crisis is that the government will provide temporary support until the economy heals itself. This is not permanent; this is temporary, and it’s a bridge to the future. And right now, we need a bridge.”

• The election of a new president. “That generally seems to perk things up — there’s generally a first-administration bounce — but in these unprecedented times, who knows?”

• To what extent new habits might become permanent. These include everything from not dining out or traveling to doing most shopping online, to working remotely. “I would like to get back to going out more, but my guess is that my life has changed, and we’ll never really go back to the way it was before the pandemic.”

• How many of the jobs that have been lost are regained. Employment is always a key to any recovery, and there is conjecture that many jobs will be lost permanently due in part to those changes in behavior; and

• Whether this region can somehow benefit from these changes in behavior and attitude. Some have suggested that, now that people can successfully work remotely, they may choose to do so in a setting like Western Mass., which provides space and a lower cost of living than Boston or other major cities.

While making hard projections is difficult, Nakosteen said he could offer what he considers to be a best-case scenario:

“By early summer, enough of the country is vaccinated and enough of the state is vaccinated, and, almost as importantly, people have confidence in the vaccine and the percentage of the population that’s been vaccinated, and then you see people start to re-engage. The industries that have been hurt have all been face-to-face industries — accommodations, retail, other services, the arts, and recreation. These face-to-face services start to bounce back quickly because people have a great hunger to get back out. If things go well, you’re going to see them get back out in the summer, and that’s when you’ll start to see the beginning of a serious rebound.”

Again, that’s the best-case scenario.

The worst case? An insufficient percentage of the population receives the vaccine, supply-chain issues “gum things out,” news of new strains of the virus spreads fear, people lose confidence in a recovery, and things drag on into the fall and perhaps longer, he said, adding, again, that myriad factors will determine which scenario — possibly one in between those two — becomes reality.

Summing things up, Nakosteen noted that, in some respects, we know what’s coming next — the administering of vaccines to millions of people over the next several months. What we don’t know is how all that is going to play out.

As he said, normally you can look to the past to see the future. But not in this case.

 

Daily News

AMHERST — For the fourth year in a row, the online MBA offered by the Isenberg School of Management at UMass Amherst topped the rankings of U.S. programs — and came out number three in the world — in the Financial Times survey.

Isenberg has offered an AACSB-accredited MBA degree program entirely online since 2001, making it one of the most well-established and robust online degrees in the country. Currently, more than 1,100 students are enrolled in the program.

“Isenberg’s pioneering online MBA program is an outstanding representation of a flexible, cutting-edge graduate degree,” said UMass Amherst Chancellor Kumble Subbaswamy. “Online education has become an essential part of any major university’s offerings, and the success of Isenberg’s MBA program is a great example of how such degrees can serve students from a variety of professional backgrounds and geographical locations on their own schedules.”

In addition to its overall position in the 2020 Financial Times ranking, the Isenberg online MBA also stood out in a number of data areas, based on information collected by the publication from members of the 2016 graduating class. It ranked first in the world for salary increase, with alumni reporting that they earn 46% more now than they did when they graduated from the Isenberg MBA program; second in the U.S. for average current salary ($168,046); and first in the U.S. for value.

“The online MBA was a revolutionary idea when the school created the program almost two decades ago,” said Isenberg Dean Anne Massey. “It’s thrilling to see the repeated recognition the degree has received from the Financial Times, confirming again that our investments in faculty, curriculum, and technology support a program that’s known to be a game changer for mid-career professionals.”

buy ivermectin for humans buy ivermectin online buy generic cialis buy cialis payday loans online same day deposit 1 hour payday loans no credit check