“This time of celebration is special for me because it is a reminder of how incredible our students are, and makes clear to me that our best days will always be in front of us, with leaders such as these exemplary future Gabelli School of Business alumni, leading the way,” said Lerzan Aksoy, the school’s dean.

Emme Simning, one of three co-valedictorians for the Gabelli School at Rose Hill, said that the education she got at Fordham is what made them exemplary.

“What makes a Gabelli graduate stand out in this world? My answer to that question does not involve the technical skills or business knowledge that we acquire, but rather that at Gabelli, we are taught to care for the world we live in,” said Simning, a finance major with a concentration in global business and member of the Global Business Honors Program. “The ability to be a part of something greater than ourselves and care for others is what sets Gabelli students apart.”

The event recognized students who were in honors societies and the business school’s honors programs, as well as students who received departmental awards and leadership awards. It also honored two Fordham graduates, Lorem Basile, GABELLI ’18, and Daniela Basile, GABELLI ’20 as Alumnae of the Year and recognized multiple faculty and staff members.

The three capstone student awards of the evening were the Alumni Chair Award, presented to a senior who exhibits “exemplary Fordham spirit and pride,” given to Natalia Kimmelshue; the Mozilo Future Distinguished Alumni Award, presented to a senior who has personified Fordham’s mission by “making excellence the focus of their life,” given to Beerdavinder “Bobby” Singh; and the Gabelli School of Business Dean’s Award, which recognizes a student’s “remarkable commitment to the Fordham community,” given to Amanda Evans.

Recognizing Parents: ‘You Are the Reason’

Both Aksoy and Vanessa Marku, a co-valedictorian, recognized the sacrifice of parents and families to send their students to Gabelli.

“This moment is for my mom—you are the green light at the end of the dock, my symbol of hope, and my greatest friend; for my dad, my greatest inspiration … for my grandparents who sacrificed everything in coming to America as ethnically Albanian immigrants from Montenegro,” said Marku, a finance major. “You are the reason I will be pursuing a juris doctorate at Hofstra University.”

‘Unique Experiences,’ from Monaco to London

Richard Torres Jr., a co-valedictorian, said that he was grateful for all the support and opportunities the Gabelli School gave him.

“You’ve afforded me so many unique experiences that I couldn’t have been exposed to anywhere else, including a study trip to Monaco, business meetings with Eli Manning and Giants executives, and an entire semester abroad in London,” said Torres, a business administration major with concentrations in finance and consulting.

All three valedictorians said that they were honored to be a part of this class.

“Many of you here in the crowd tonight will be the next changemakers and business leaders of the world,” Torres said.

The ceremony, which brought family and friends to the McNally Amphitheatre, featured awards for outstanding senior thesis; students admitted to honors societies; and the Dean’s Award, which was given to Hussein Chebli.

Chebli, a global finance and business economics major, was lauded by Vincent DeCola, S.J., assistant dean for the B.S. in Global Business, as “a quiet leader who leads by example, … hard work, and steady reliability, despite the challenges life can throw at you.”

The Global Citizen Award, which is given to an international student who has demonstrated a desire and ability to build bridges of acceptance and understanding in global business, was given to Jaeri Kim, who graduated with a concentration in global marketing with consumer insights. The faculty Cura Personalis award was presented to business law and ethics professors Mark Conrad, Ph.D., and Kenneth Davis, Ph.D.

Lerzan Aksoy, Ph.D., who was appointed dean of the Gabelli School in December, told students she had no doubt that they’d succeed professionally after having brought their best selves to their classwork.

“Most importantly, remember to give your best selves to those who love and support you regardless of your failings, because it is those relationships that will sustain you throughout your life’s journey,” she said.

She also issued a word of caution for when students do face failure and doubts–particularly when others may be succeeding by acting unethically. “It will seem all the more difficult when you see others abandoning decency and honesty for personal gain and financial gain,” she said.

“During those times, it is important to remember that there is no gain worthy of losing your soul. The good news is that if you don’t quit and you keep pushing forward while staying true to your values, you will win.”

Grace Oakley, a global finance and business economics major who was honored in March by the website Poets&Quants as one of the best and brightest students of the class of 2023, and who was honored as one of 13 finance scholars, was chosen to speak on behalf of the class.

Oakley, who is currently working as an analyst for Blackstone Financial Group, reflected on how she was asked what her dream job might be during a first-year orientation event in 2019. Her answer bore little similarity to what she ended up doing, which wasn’t surprising, she said, as many students’ identities change over four years.

But one thing that has not changed since 2019 was the emphasis on caring for one another.

This is what it means to embrace the ethos of Cura Personalis, she said.

“As we reflect on the difficulties we share, whether as trivial as the struggle of squeezing just one more person into a Lowenstein elevator to make it to class on time, or as monumental as world events of the pandemic, we can also appreciate the immense growth achieved through struggle, and acknowledge the vital role that every individual in the class of 2023 mutually played in molding each other during this time.”

“This shift represents an investment in our marketing and communication efforts,” Tetlow said. “That work raises Fordham’s profile, connects with our alumni and donors, and most of all, increases our enrollment. Investment in this area will pay dividends across the University.”

For decades, the University’s marketing and communications team has been a department within Development and University Relations, a division that encompasses about 120 professionals who work in fundraising, event planning, and alumni engagement, in addition to marketing and communications. The latter represents nearly a quarter of the division, but it is responsible for a wide range of enterprises, including advertising and marketing, communications and media relations, photography and video, social media, and website management. 

With the creation of a new vice president role, Tetlow has now placed University Marketing and Communications directly in her cabinet, where she can address the team’s needs. The division will be led by Lehmann, formerly the associate vice president for marketing, who has led the University’s marketing operations since 2017. She will serve as the interim vice president while the University conducts a national search led by Lerzan Aksoy, Ph.D., dean of the Gabelli School of Business and a professor of marketing. In the coming months, the search committee will ask for input from the University community.  

“I am excited to assume this role and thankful to the president for her confidence in our team,” Lehmann said. “We’ve very eager to tell Fordham’s story on a national and international stage.”

Though the marketing and communications functions are equally crucial, said Tetlow, the search for a permanent vice president will focus on someone with more experience in marketing, since this position will have a more direct impact on Fordham’s finances. Lehmann’s counterpart in University Marketing and Communications, Bob Howe, will remain in his current position as associate vice president for communications and special advisor to the president. 

Budget-wise, this position will replace the vice presidency for Lincoln Center. (Frank Simio, the previous vice president for Lincoln Center, plans on retiring on June 30.) 

Tetlow said the new shift will help to enhance Fordham’s reputation, both locally and around the world.

“The remarkable team in Marketing and Communications will continue to grow Fordham’s profile, engage our alumni, and most of all, help us to recruit our best and brightest students,” Tetlow wrote in a Feb. 17 email to the University community. “My hope is this new focus will lift and support their work.” 

It is with great pleasure that we announce the appointment of Lerzan Aksoy, Ph.D. as dean of the Gabelli School of Business, effective January 1, 2023. A Fulbright scholar, prolific author, and award-winning professor of marketing, Dr. Aksoy has been serving as interim dean of the Gabelli School since July 1, 2022. From 2015 to 2022 she served as associate dean of undergraduate studies and strategic initiatives within the school. 

Dr. Aksoy began her academic career as a marketing professor in the College of Administrative Sciences and Economics at Koç University (Istanbul, Turkey). She joined Fordham’s marketing faculty in 2008 and is the managing director of the Responsible Business Coalition at the Gabelli School. Dr. Aksoy has published over 70 journal articles and is co-author of the NY Times bestseller The Wallet Allocation Rule and co-author/co-editor of four other books on customer loyalty. In 2022, she received the American Marketing Association’s Christopher Lovelock Career Contributions to the Services Discipline Award. This is the highest award presented in the field of service marketing and recognizes exemplary teaching, research, and service. Dr. Aksoy currently sits on the Academic Council of the American Marketing Association (AMA) and will serve as president of the Academic Council beginning in 2024. 

Dr. Aksoy is an outstanding teaching scholar and accomplished administrator who will bring to the deanship a broad, strategic, and global vision for the school. She possesses a rare combination of intelligence, generosity of spirit, humility, and ambition for advancing Jesuit approaches to business education. As dean, Dr. Aksoy will ensure the Gabelli School continually offers innovative and relevant degree programs; helps students thrive as future business leaders in a diverse, inclusive community; and produces high-impact research. 

The Gabelli School of Business serves just over 2,700 undergraduate students and 1,600 graduate students, and boasts a global network of 40,000 alumni. It is a flagship institution for responsible business strategy; integrating business connections; environmental, social and governance (ESG) research; and expertly designed curricula to develop leaders who are change agents and critical thinkers prepared to act in the service of the greater good. 

Dr. Aksoy received her Ph.D. in marketing from the Kenan-Flagler Business School, University of North Carolina-Chapel Hill; an M.B.A. from George Mason University; and a B.S. in business administration from Hacettepe University (Ankara, Turkey).

We would like to thank the search committee, chaired by Matthew Diller, dean of the law school, for a comprehensive and successful national search that included extensive interviews of 11 semi-finalists and four finalists. From this very talented pool of candidates, Dr. Aksoy emerged as the clear leader best prepared to take the Gabelli School of Business to new heights.

Please join us in enthusiastically congratulating Dr. Aksoy as she assumes her new role.

With best wishes for a rewarding new year, 

Tania Tetlow
University President             

Dennis C. Jacobs
Provost and Senior Vice President for Academic Affairs

“The Impact Index came out of conversations with brand and retail CEOs wanting a framework to highlight ESG (environmental, sustainability, and governance) standards,” said Frank Zambrelli, the executive director of the coalition, launched at the Gabelli School in March 2020 and includes a network of executives, researchers, nonprofits, and educators.

“Consumers have decided they want to know what they’re eating or putting on their body or investing in and the impact of those elements,” he said.

For this project, which launched in November 2021, the coalition worked in partnership with Accenture, a professional services company, 30 international brands and retailers, and Vogue magazine to develop a framework and label that brought together “what the consumers wanted, what the brands and retailers were able to provide, and what the science-based communities deemed to be important” in addressing environmental and sustainability issues, according to Zambrelli.

The Impact Index aims to serve as an industry-wide label that lets consumers know what “environmental or ethical criteria” the piece of clothing meets. If the item meets one of the categories on the index, which currently includes ratings for raw materials, animal welfare, chemical usage, and education and empowerment, the article of clothing will receive an Impact Index logo.

When shopping online, consumers can click on the logo if they want to learn more, such as whether the product was made from Fair Trade organic cotton or it it has been “certified as free from harmful substances and chemicals.”

The framework and logo are part of an initial “proof of concept,” or pilot program, with a “major international clothing brand and a large national retailer,” Zambrelli said, which will allow the coalition to test the label and how it works, both for consumers and for the companies. The index is expected to rollout across the industry after several partner pilots in 2022.

History of the Coalition

The roots of the coalition go back to 2013 and aftermath of the Rana Plaza factory collapse in Bangladesh, where more than 1,100 people died, mostly garment workers, Zambrelli said.

“It was sort of a watershed moment,” he said. “That moment really marked a sea change in the industry. Out of the tragedy came the awakening and the recognition that the industry was not behaving, it was not operating responsibly.”

Zambrelli said that the tragedy sparked conversations between himself and other industry leaders, including Gabelli Fellow Cara Smyth, founder of the Responsible Business Coalition and chair of Rockefeller Philanthropy Advisors: Fashion Makes Change.

Together they began looking for an “intersection between profitability and sustainability” to bring the fashion executives to the table. It started with 16 leaders meeting for coffee, he said, and grew to include about 50 CEOs who control almost 300 brands today. The coalition also includes nonprofit leaders, nongovernmental organizations (NGOs), and research partners who help advocate for social and environmental efforts.

Moving to the Gabelli School

In March 2020, the CEO group found a new home at the Gabelli School. Zambrelli said that when the opportunity presented itself to work “inside a business school, inside a prestigious university, connected to the Jesuit network—it was a bit of a no brainer.”

Lerzan Aksoy, associate dean of strategic initiatives, marketing professor, and managing director of the Responsible Business Coalition, said the mission of the CEO group really aligned with the mission of the Gabelli School.

“Our purpose is really to educate the future leaders who have a passion for using the power of business to move society forward, so this really made a lot of sense,” she said. “We’ve been really working hard to link it back to opportunities for our students and our faculty.”

Some of those opportunities include conferences; a sustainability internship pipeline; a competition through a partnership with Net Impact for students to show off their ideas for sustainability initiatives in fashion; and funding for faculty research, particularly ESG databases.

“We have a student competition launching [in the spring], called Wear it Wise, looking really at the consumer side—what are the trends and demands that consumers are making when it comes to sustainability from fashion and apparel brands and how can students come up with these creative ideas to to solve some of the issues and problems when it comes to sustainability?” Aksoy said.

As for internships, Zambrelli said that last year they partnered with beauty giant Esteé Lauder to place interns throughout the company.

“We were able to place interns at Esteé Lauder who work in sustainability—but in the accounting department, and then sustainability in the packaging team and in sustainability in product creation and marketing,” he said. “It really set the standard for how we could engage interns in a way that was highly pragmatic and useful to the industry, as well as [provide]a tremendous educational experience.”

The past two years the internship offerings expanded to include the clothing company PVH, a partner of the Gabelli School; there are plans to expand to other companies later this year.

Zambrelli said that some of the students have described participating in the program as a “life-changing experience” because they were able to work in the areas of business that they are interested in without having to compromise their “personal value set and mission.”

Growing Beyond Fashion

While a lot of their work has been done in fashion, both Zambrelli and Aksoy said that the coalition is expanding this year to include a focus on ESG reporting and disclosure and future ready business leaders.

One of the goals is to help teach both current and future executives and employees how to accurately report their environmental and social impacts using sustainable accounting practices.

“They’re receiving multiple requests to report ESG metrics—but the lack of knowledge, standardization and comparability creates challenges,” Aksoy said.

In addition to offering a sustainable accounting course for current students, the Gabelli School launched an executive education program this spring on ESG literacy for business executives.

“We really see [the coalition]as accelerating all the great area-led initiatives at the Gabelli School and a way to embody the mission of the Gabelli School in action,” Aksoy said.

ASIF SIDDIQI
50 Years Ago, a Forgotten Mission Landed on Mars
Discover Magazine 12-1-21
“The Soviet space program was under a lot of pressure in the 1960s to achieve ‘firsts,’” says Asif Siddiqi, a Fordham University history professor who’s penned multiple books on the Soviet side of the space race.

CHERYL BADER
Rittenhouse Verdict Sparks Split Reactions, Fears of Vigilantism
Bloomberg.com 11-19-21
“I am afraid that as people are empowered by this verdict to weaponize the public spaces, we will see more fatalities,” said Cheryl Bader, a former assistant U.S. attorney and associate clinical professor at Fordham University School of Law.

ZEPHYR TEACHOUT
‘I Want to Be a 21st-Century Trustbuster’: Zephyr Teachout on Her Run for A.G.
New York Magazine 11-24-21
Teachout is currently a professor at Fordham Law School, where she specializes in constitutional and antitrust law.

FORDHAM UNIVERSITY

Capital Campaign Watch: Dickinson, Fordham, Springfield, Tulane
Inside Higher Ed 11-22-21
Fordham University has announced a campaign to raise $350 million, probably by 2024. The university has raised $170 million so far.

Museum of American Finance to Present Virtual Panel on “SPACs: The New IPO?”
BusinessWire 11-30-21
“SPACs: The New IPO?” is sponsored by Citadel Securities and Vinson & Elkins. It is presented in partnership with the Fordham University Gabelli Center for Global Security Analysis.

Study Abroad Programs Reopen To Eager College Students
Gothamist.com 12-1-21
This fall, Fordham University only re-opened its London program. Joseph Rienti, director of the study abroad office, said the enrollment for that campus was higher than usual.

LAW SCHOOL FACULTY

CHERYL BADER
Rittenhouse Verdict Sparks Split Reactions, Fears of Vigilantism
Bloomberg.com 11-19-21
“I am afraid that as people are empowered by this verdict to weaponize the public spaces, we will see more fatalities,” said Cheryl Bader, a former assistant U.S. attorney and associate clinical professor at Fordham University School of Law.

JOHN PFAFF
In Depth Podcast: Why Kyle Rittenhouse was acquitted
Audacity.com 11-19-21
This week’s guests include Kim Belware, John Pfaff (sic), and Charles Coleman Jr.
… Pfaff (sic), an author and law professor at Fordham University, breaks down how self defense laws, open carry laws, and the burden of proof contributed to this case.

OLIVIER SYLVAIN
FTC Chair Khan Brings on AI Policy Advice From NYU Researchers
Bloomberg Law 11-19-21
They join Olivier Sylvain, a law professor from Fordham University, who is serving as Khan’s senior adviser on technology.

DORA GALACATOS
The future of geographic screens for NYC’s high schools is up in the air amid concerns over diversity, commutes
Chalkbeat.com 11-19-21
Dora Galacatos is the executive director of the Fordham Law School Feerick Center for Social Justice, which recently released a report calling for a number of reforms to make the admissions process more fair.

CHERYL BADER
Rittenhouse’s Winning Strategy Rested on Tear-Filled Testimony
Bloomberg Law 11-19-21
Cheryl Bader, a former federal prosecutor who now teaches at Fordham University School of Law, said there didn’t appear to be any obvious errors in the state’s case.

CHERYL BADER
Rittenhouse verdict raises stakes in Arbery trial
SFGATE 11-20-21
Cheryl Bader, a former assistant U.S. attorney and a professor at Fordham University School of Law, said that while people of any race can claim self-defense, implicit bias means that race will inevitably factor into who can successfully claim it.

RICHARD M. STEUER
The congressional debate over antitrust: It’s about time
The Hill 11-20-21
Richard M. Steuer is an Adjunct Professor at Fordham Law School

ERIC YOUNG
Who Was Watching Over The CEO Of Activision Blizzard?
Forbes 11-22-21
Eric Young, a former chief compliance officer at a number of large global investment banks, and currently an adjunct professor for compliance at Fordham Law School, said about this matter, “Where there’s smoke, there’s fire.”

OLIVIER SYLVAIN
Hochul tops new poll
Politico 11-22-21
Olivier Sylvain will be senior adviser on technology to [FTC Chair Lina] Khan. He is a law professor at Fordham University and is considered a Section 230 expert.

CHERYL BADER
Table Topics: Oil Prices, Rittenhouse, and Ethical Debates
Player.fm 11-23-21
Cheryl Bader, clinical associate professor of law, Fordham

OLIVIER SYLVAIN
FTC Chair Lina M. Khan Announces New Appointments in Agency Leadership Positions
MyChesco.com 11-24-21
Olivier Sylvain will serve as Senior Advisor on Technology to the Chair. Sylvain joins the FTC from Fordham University where he has served as Professor of Law.

ZEPHYR TEACHOUT
‘I Want to Be a 21st-Century Trustbuster’: Zephyr Teachout on Her Run for A.G.
NY Mag 11-24-21
Teachout is currently a professor at Fordham Law School, where she specializes in constitutional and antitrust law.

BRUCE GREEN
Jan. 6 panel faces double-edged sword with Alex Jones, Roger Stone
The Hill 11-26-21
“Even people that have a tendency to lie in a lot of different contexts have strong motivation not to lie under oath because it puts them at risk,” said Bruce Green, a law professor at Fordham University and a former federal prosecutor.

BRUCE GREEN
Ahmaud Arbery trial shines a light on prosecutorial misconduct
DNYUZ 11-30-21
Bruce A. Green is the Louis Stein Chair at Fordham Law School, where he directs the Louis Stein Center for Law and Ethics.

BRUCE GREEN
10 Things in Politics: Kamala Harris’ Big Tech problem
Business Insider (subscription) 12-1-21
Bruce Green, who leads the Louis Stein Center for Law and Ethics at Fordham Law School, said it would be “misleading or irresponsible” to make such a commitment.

JOEL COHEN
When a President Comments on a Pending Criminal Case
Law & Crime 12-1-21
He is the author of “Broken Scales: Reflections On Injustice” (ABA Publishing, 2017) and an adjunct professor at both Fordham and Cardozo Law Schools.

TANYA HERNANDEZ
A college law professor who teaches critical race theory worries that educators are living through another ‘Red Scare’
Business Insider 12-1-21
Tanya Katerí Hernández feels fortunate to be a tenured professor at Fordham University School of Law, a private Catholic institution in New York City that she said supports her teaching on critical race theory.

FORMER LAW SCHOOL FACULTY

ALISON NATHAN
Who Is Alison Nathan? Ghislaine Maxwell Trial Judge
Newsweek 11-29-21
From 2008 to 2009, she was a Fritz Alexander Fellow at New York University School of Law and before that, from 2006 to 2008, a visiting assistant professor of law at Fordham University Law School

ANNEMARIE MCAVOY
From Serious to Scurrilous, Some Jimmy Hoffa Theories
NewsNation USA 11-24-21
Former federal prosecutor and adjunct law professor at Fordham University Annemarie McAvoy discusses history and fascination of the Hoffa case.

GABELLI SCHOOL OF BUSINESS FACULTY

FRANK ZAMBERELLI
How does the Impact Index support sustainable fashion?
Sustainability.com 11-19-21
Frank Zambrelli, Executive Director of the Responsible Business Coalition at Fordham University’s Gabelli School of Business, says, ‘it is not a green light or a red light. It’s merely a platform. Nobody’s saying this is a better skirt than this one; we’re just saying, “This skirt was produced this way, with these certifications”’.

BARBARA PORCO
Companies Are Falling Short Measuring Environmental Performance Against Goals: Report
Forbes 12-2-21
As I wrote last month, “All elements of ESG reporting are really based on proper risk management,” according to Barbara Porco, director for the Center of Professional Accounting Practices at Fordham Business School.

LERZAN AKSOY
Aflac Lands Top-15 Spot on the 2021 American Innovation Index
PR Newswire 12-1-21
“The pandemic continues to challenge companies to adapt their business models at a faster rate than in normal times,” said Lerzan Aksoy, Ph.D., professor of marketing at Fordham University’s Gabelli School of Business.

GRADUATE SCHOOL OF SOCIAL SERVICES FACULTY

Aging Behind Prison Walls
WFUV-FM 11-30-21
Tina Maschi, PhD, LCSW, ACSW Professor, Fordham University Graduate School of Social Service

ARTS & SCIENCES FACULTY

BRYAN MASSINGALE
Christians must develop an anti-racist spirituality, Mennonite authors argue
National Catholic Reporter 11-24-21
Among that year’s honorees was Fr. Bryan Massingale, who was then on the faculty of Marquette University in Milwaukee and now teaches at Fordham University in New York.

JACK WAGNER
In Their 80s, and Living It Up (or Not)
New York Times 11-26-21
Dr. Katharine Esty has the right idea. I am 85 and my wife is 80. I work out six times a week at my local gym, and I teach mathematics at Fordham University. We are fully vaccinated, including boosters.

KATHRYN REKLIS
Telling Native stories on TV
The Christian Century 11-19-21
Kathryn Reklis teaches theology at Fordham University and is codirector of the Institute for Art, Religion and Social Justice.

SHELLAE VERSEY
Forever Young: Seniors Dance in the Bronx
The Villiage Voice 11-24-21
“Even before COVID, we were already noticing the squeeze of gentrification on the social lives of older adults who were living in these communities,” Shellae Versey, an assistant professor of psychology at Fordham University, tells the Voice in a phone interview, referring to members of racial minority groups being priced out of their neighborhoods.

CHARLES CAMOSY
Takeaways from the USCCB’s General Assembly
National Catholic Register 11-20-21
To help shed some light on the broader scope of what happened in Baltimore, and the general assembly’s true significance, the Register spoke with Charles Camosy, a moral theologian at Fordham University;

CHRISTINA GREER
Eric Adams, off on the right foot
Marietta Daily Journal 11-20-21
The rubber’s yet to hit the road and I’ve written plenty already about my doubts and concerns about Adams and what Fordham University political science professor and my FAQ.NYC co-host Christina Greer calls his “nervous cop energy.”

CHRISTINA GREER
Thanksgiving is upon us
Amsterdam News 11-25-21
Christina Greer, Ph.D., is an associate professor at Fordham University, the author of “Black Ethnics: Race, Immigration, and the Pursuit of the American Dream,” and the co-host of the podcast FAQ-NYC.

BRYAN MASSINGALE
Bryan Massingale wins social justice award from Paulist Center
The Christian Century 11-29-21
He currently teaches ethics at Fordham University, where he also serves as the senior ethics fellow for the school’s Center for Ethics Education.

ARISTOLTLE PAPANIKOLAOU
Jan. 6 panel faces double-edged sword with Alex Jones, Roger Stone
National Catholic Reporter 11-30-21
Looking ahead to the pope’s time in Cyprus and Greece, Aristotle Papanikolaou, co-director of the Orthodox Christian Studies Center at Fordham University, told NCR that “the symbolism is key.”

CHRIS RHOMBERG
Fattest Profits Since 1950 Debunk Wage-Inflation Story of CEOs
Daily Magazine 11-30-21
“Workers may be tired of seeing the fruits of their labor go to corporations making record-breaking earnings,” Chris Rhomberg, a professor of sociology at Fordham University, said at that point. “The Deere workers evidently felt that the company could afford more.”

SARIT KATTAN GRIBETZ
Yeshiva University Museum Receives NEH Planning Grant
Yeshiva University 11-20-21
Additional consultants on the project are Sarit Kattan Gribetz, Associate Professor of Classical Judaism at Fordham University, who has particular expertise on the Jewish calendar and its development during the rabbinic period and on aspects of the calendar as they relate to the historical experience of Jewish women;

ASIF SIDDIQI
50 Years Ago, a Forgotten Mission Landed on Mars
Discover Magazine 12-1-21
“The Soviet space program was under a lot of pressure in the 1960s to achieve ‘firsts,’” says Asif Siddiqi, a Fordham University history professor who’s penned multiple books on the Soviet side of the space race.

DAISY DECAMPO
The Ethics of Egg Freezing and Egg Sharing
The Cut (subscription) 12-1-21
Daisy Deomampo, a medical anthropologist and associate professor at Fordham University who has researched donor egg markets.

NICHOLAS JOHNSON
School Board Finds Anti-2A Bias In Elementary School Textbook
Bearing Arms 12-1-21
As Fordham professor Nicholas Johnson brilliantly pointed out in his book Negroes and the Gun: The Black Tradition of Arms, the Second Amendment has long played a role in advancing the cause of freedom in the United States.

CHRISTINA GREER
December is upon us
New York Amsterdam News 12-2-21
Christina Greer, Ph.D., is an associate professor at Fordham University, the author of “Black Ethnics: Race, Immigration, and the Pursuit of the American Dream,” and the co-host of the podcast FAQ-NYC.

FORMER ARTS & SCIENCES FACULTY

ROGER PANETTA
Houston highway project sparks debate over racial equity
MyNorthwest.com 11-23-21
Roger Panetta, a retired history professor at Fordham University in New York, said those opposing the I-45 project will have an uphill battle, as issues of racism and inequity have been so persistent in highway expansions that it “gets very difficult to dislodge.”

ATHLETICS

KYLE NEPTUNE
Early returns on the Kyle Neptune era at Fordham University positive
News12 New Jersey 11-19-21
The early returns on the Kyle Neptune era at Fordham University have been pretty positive.

Red Bulls Pick Up New Players In Super Draft
FirstTouchOnline.com 11-28-21
Janos Loebe, a German-born Fordham University product, will start to move from forward to attacking wingback, a key position on the field for New York.

ALUMNI

40 Under 40: Kyle Ciminelli, Ciminelli Real Estate Corp.
The Business Journals (subscription only) 11-19-21
[Kyle Ciminelli] Bachelor’s, finance, Fordham University; master’s, real estate and finance, New York University.

Devin Driscoll to Host Christmas Gathering
The Knoxville Focus 11-21-21
Devin Driscoll graduated from Catholic High School and went on to earn a degree from Fordham University.

Columnist Judith Bachman Captures The Spirit Of Sister Mary Eileen O’Brien, President Of Dominican College
Rockland County Business Journal 11-23-21
Sister O’Brien has dedicated herself to education for over 50 years. Sr. Mary Eileen earned a doctorate degree in Educational Administration and Supervision from Fordham University and holds a master’s degree in Adult and Higher Education from Teachers College of Columbia University and a master’s in Mathematics from Manhattan College.

Lacerta Therapeutics Appoints Min Wang, PhD, JD and Marc Wolff to its Board of Directors
BusinessWire 11-24-21
Dr. [Min] Wang received her PhD in Organic Chemistry from Brown University and a JD from Fordham University School of Law.

Teva Attorneys Leave Goodwin Procter For Greenberg Traurig
Law360.com (subscription) 11-24-21
He earned his law degree from Fordham University School of Law.

She went through foster care. Now she leads one of the oldest U.S. child welfare organizations.
MSNBC 11-29-21
[Kym Hardy] Watson, who holds degrees from Fordham University and Baruch College, CUNY, began her career in the 1980s after a summer job working with youth at St. Christopher’s Home.

FreedomCon 2021 – Native Lives Matter
Underground Railroad Education Center 11-27-21
[Loriv Quigly] earned her bachelor of arts in Journalism and Mass Communication from St. Bonaventure University, and a master of arts in Public Communication and Ph.D. in Language, Learning and Literacy from Fordham University.

The Hall case in the Poconos and malice in the US | Moving Mountains
Pocono Record 11-27-21
Anthony M. Stevens-Arroyo holds a doctorate in Catholic Theology from Fordham University and authored a column on religion for the Washington Post from 2008-2012.

The Success Of Emmy Clarke, Both In And Out Of The Camera
The Washington Independent 11-29-21
[Emmy Clark] decided to attend Fordham University. She finished her studies in 2014 and received a bachelor’s degree in Communication and Media Studies.

Paraco’s CEO puts business lessons, family experiences in print
Westfair Communications Online (subscription) 11-19-21
…was born in Mount Vernon, the oldest of four sons He attended Fordham University, graduating in 1976 with a Bachelor of Arts degree in…

Greenberg Traurig Further Strengthens Pharmaceutical, Medical Device & Health Care Practice
PR Newswire 11-19-21
In addition, [Glenn] Kerner has experience in complex commercial litigation, antitrust, real estate litigation, and other civil litigation. He has a J.D. from Fordham University School of Law and a B.A. from Cornell University.

Three Universities Have Announced the Hiring of African Americans to Diversity Positions
The Journal of Blacks in Higher Ed 11-19-21
[Tiffany Smith] holds a master’s degree in education, specializing in counseling services, from Fordham University in New York.

President Biden nominates second out woman to federal appellate court
LGBTQ Nation 11-21-21
[Alison Nathan] has clerked in the Supreme Court and taught at Fordham Law School and NYU Law.

GOTS ramps up oversight on product claims in North America
HomeTextilesToday.com 11-22-21
[Travis Wells] earned his Juris Doctorate (J.D.) in Corporate Law from George Washington University Law School and his Master of Business Administration (MBA) in Global Sustainability and Finance from the Gabelli School of Business at Fordham University.

Malcolm X’s 5 surviving daughters: Inside lives marred by tragedy and turmoil
New York Post 11-23-21
[IIyasah Shabazz] graduated from the elite Hackley School, obtained a bachelor’s degree from SUNY New Paltz and a master’s degree in human resources from Fordham University.

Michael R. Scoma is recognized by Continental Who’s Who
PR Newswire 11-24-21
From a young age, Dr. [Michael] Scoma knew he wanted to pursue a career helping others. He started off earning his Bachelor of Science from Fordham University.

STODDARD BOWL: 2021 game will honor the former greats, Maloney’s Annino and Platt’s Shorter
MyRecordJournal.com 11-24-21
After Platt, [Michael] Shorter did a post-grad year at Choate, where he was an All-New England running back, then went on to play four years at Fordham University, where he earned a degree in Economics.

Local performer returns to state with ‘Fiddler’
HometownSource.com 11-24-21
From there [Scott Willits] went to The Ailey School and Fordham University and received a Bachelor of Fine Arts degree in dance in New York.

The Singer Who Calls Himself Sick Walt
Long Island City Journal 11-24-21
After graduating from Fordham University with a degree in communications and a minor in German and singing in a cover band, Sick Walt set out on a traditional (he means boring!) career path, taking what he calls a corporate “suit job” in a financial institution.

Aleksander Mici files to run for U.S. Senate
Bronx Times 11-24-21
[Aleksander] Mici, 46, is a practicing attorney with a law degree from Fordham Law School.

Robert Hughes
Citizens Journal 11-20-21
Bob [Robert Hughes] has a MA in economics from Fordham University and a BS in business from Lehigh University.

Grassroots solutions and farm fresh eggs
The Bronx Free Press 11-27-21
[Jack] Marth first connected with POTS when he was a Fordham University student in 1988, as he volunteered to help in the soup kitchen.

Suozzi enters governor’s race
The Daily Star 11-29-21
A graduate of Boston College and Fordham Law School,, [Thomas] Suozzi lives with his wife, Helen, in Nassau County.

Latino students succeed in graduate school with the support of the Hispanic Theological Initiative
FaithandLeadership.com 11-30-21
The Rev. Dr. Loida I. Martell recalls a critical, do-or-die moment she faced while pursuing a Ph.D. in theology from Fordham University.

Governor Hochul Announces 2021-2023 Fellows
Governor.ny.gov 11-30-21
[Shaquann Hunt] received a B.A. in Philosophy and Psychology from Colby College and a J.D. from Fordham University School of Law.

With Graduate Degree She Worked At McDonald’s, She Now Owns Three
Patch.com 11-30-21
Just after Sara Natalino Amato received a graduate degree at Fordham University, she went to work at an Orange McDonald’s.

Lamont nominates Nancy Navarretta as Mental Health and Addiction Services Commissioner
Fox61.com 12-1-21
[Nancy Navaretta] earned a Bachelor of Arts degree in psychology from Boston College, and a Master of Arts degree in clinical psychology from Fordham University.

United Way Board of Directors Appoints Four New Members
Patch.com 12-1-21
[Marjorie] De La Cruz was awarded the Fordham School of Law 25th Annual Corporate Counsel Award; Latino Justice 2019 Lucero Award and was featured in Hispanic Executive in March 2019.

Jasmine Trangucci, LCSW-R is Meritoriously Named a ‘Top Patient Preferred Psychotherapist’ Representing the State of New York for 2022!
DigitalJournal.com 12-2-21
[Jasmine Trangucci] then went on to complete her Master of Social Work degree at Fordham University in 2005.

Hamilton Re-Signs Anderson as General Manager
OurSportCentral.com 12-2-21
A 2006 graduate of Fordham University, [Jermaine] Anderson earned his Master of Business Administration from the Ted Rogers School of Management at Ryerson University in September of 2019.

Hers Is a Filmmakers Festival
The East Hampton Star 12-2-21
Ms. [Jacqui] Lofaro grew up in Greenwich Village and graduated from Fordham University.

Connell Foley elects new managing partner
ROI-NJ 12-2-21
[Timothy] Corriston earned his J.D. from Fordham University School of Law and his B.A. from Hobart College. He also holds an LL.M. in environmental law from Pace University School of Law.

OBITUARY

Walter Miner Lowe, Jr.
Auburn Citizen (subscription) 11-24-21
Born in NYC, he was the son of late Walter Sr. and Florence Lowe. Walter was a 1958 graduate of Fordham University and an Army veteran serving his …

Denis Collins
Legacy.com 11-24-21
He graduated from Gonzaga High School in 1967, and attended Fordham University, with various mis-adventurous detours to Trinity College in Ireland, Talladega College in Alabama, and Stony Brook University in Long Island.

Sr. Marie Vincent Chiaravalle
Legacy.com 11-29-21
She attended St. Elizabeth Teacher College, Allegany, Fordham University in New York City and graduated from St. Bonaventure University, Allegany, with a bachelor of science degree in education.

Frank J. Messmann III
The Enterprise 11-26-21
He received a doctorate from Fordham University.

Roderick Dowling
The Atlanta Journal-Constitution 11-28-21
He received his law degree from Fordham Law School as the President of his class in 1965, paying for his tuition through multiple jobs as a waiter, lifeguard, and a Fordham scholarship.

Mary Waddell
The Atlanta-Journal 12-1-21
Mary was born in Manhattan, New York to James and Anna McHugh McGuinness on August 18, 1927. She attended St. Barnabas High School in the Bronx and graduated from Fordham University with a Bachelor of Science degree in Chemistry before joining the global headquarters of the New York City-based public relations firm Carl Byoir & Associates.

On Oct. 3, representatives from five of the most innovative companies in the world came to Fordham to give students a peek into the ways they constantly reinvent themselves.

Part of the second annual American Innovation Conference held at the Lincoln Center campus, the company presentations were followed by an awards ceremony that honored the top social innovators from the American Innovation Index, the only survey in the U.S measuring company social innovativeness based on customers’ experiences. It drew students and faculty from both Fordham and elsewhere.

The survey was launched last year by the Gabelli School of Business, the Norwegian School of Economics, and market research firm Rockbridge Associates. The top five companies in this year’s survey were Apple, Honda, Weber, Toyota, and Amazon; on Thursday, students heard from representatives from Toyota, IKEA (sixth on the list), John Deere (13th), Stanley Black & Decker (17th), and Aflac (18th).

Lerzan Aksoy, Ph.D., a professor of marketing at the Gabelli School of Business, said the rating is meant to provide value to companies, because the ones that are viewed by their customers as socially innovative achieve unique advantages in loyalty and word of mouth that ultimately contribute to long-term marketplace success.

“Because the Social Innovation Index is based on customer perceptions, it has a high level of objectivity and market validity,” she said, adding that when it’s used along with internal-metric evaluations, it can help provide a fuller picture of a company.

The Toyota Way

Brian Kiser, a vehicle product training specialist at Toyota, said his company stays innovative by following the two pillars of “The Toyota Way”: Kaizen, which is Japanese for continuous movement, and respect for people. The firm, which views itself as a mobility company, is particularly proud to be a leader in the production of electric vehicles, and Kiser said it plans to make an electric option available on every one of its cars by 2025.

He also predicted the company’s new Guardian accident avoidance system will help prevent collisions. The system, which will be available next year, detects potentially dangerous situations and “amplifies” human control, to prevent, say, a teenage driver from over-steering while avoiding an obstacle.

“Guardian coordinates the skills and strengths and the machine. The joy of driving is still real though as it’s an inherent and important part of the experience,” he said.

Listening to Customers

Maria Møllerskov Jonzo, a customer experience knowledge and insight leader at IKEA, said that her firm operates from the understanding that 80% of its customers’ satisfaction comes from their experience shopping for an item, while only 20% comes from the actual product. Since city dwellers are the company’s largest growing customer base, IKEA has begun opening outposts within city centers that are much smaller than the nearly 400,000 square foot big box stores it has traditionally occupied.

Most important, she said, is to listen more to customers, understand their experience, follow up, and act on their complaint. As she explained this, Jonzo displayed a screenshot of a complaint from a real customer, with certain sections highlighted to show where the company could learn valuable lessons.

“When we listen to the customer, we can actually know what’s going on, because they will tell us everything,” she said.

182 Years of Innovation

Mark Moran, director of technology and information center at John Deere, framed the 182-year-old agricultural, construction, and forestry machinery company’s mission as a simple one: Feed more people with better food. Two-thirds of its business comes from the agricultural sector, and it’s been able to innovate through a fervent embrace of technological breakthroughs. For instance, its most advanced tractors are capable of using GPS to determine where they are, down to the inch, even though GPS was not originally designed to be that precise. That enables the company to do things like deploy artificial intelligence to differentiate individual weeds from plants, and then spray only the former.

The company has also spent $1.8 million on its “Dollar for Doers” program, which provides funds to charitable groups that employees choose to volunteer for, he said. It all ties into the company’s ethos of “doing things right, and doing right for all of our constituents,” said Moran.

Helping Children with Cancer

Buffy Swinehart, senior manager of social purpose at Aflac, drew oohs and awws forth from the crowd when she showed off the insurance company’s therapeutic robot ducks, 5,700 of which it has sent to hospitals around the country. The ducks are designed to provide comfort and entertainment to children who are undergoing treatment for cancer. Cancer insurance was the first product the company offered, she said, and in the last 24 years, it has committed $136 million to research on pediatric cancer. Aflac and the firm it partnered with spent 18 months interviewing 82 patients about what needs a duck could meet; its unveiling represents a new way of helping a vulnerable population.

Experiment with Purpose

Mark Maybury, chief technology officer at Stanley Black & Decker, offered a personal note of thanks for his company’s award, noting that former Fordham professor Raymond Schroth, S.J., FCRH ’55, married him and his wife 34 years ago. Like John Deere, he noted that his firm has a long history of evolution, and although it still makes iconic brands like Craftsman tools, it has also branched out into areas such as electronic tags that identify newborns and their mothers to ensure they don’t get separated. The secret to innovation, he said, is to observe carefully, listen deeply, think outside the box, and experiment with purpose.

“I think it’s critical to recognize that the Ignatian philosophy of being men and women for others is embedded in the social good that’s a focus of these awards, and it’s particularly humbling to be recognized not only as an innovative company, but also one that’s dedicated to the social good,” he said.

Donna Rapaccioli, Ph.D., dean of the Gabelli School of Business, said the renewal, which takes place every five years, is a testament to Fordham’s dedication to coordinate resources from across the institution and focus them toward improving the lives of others.

“It’s external validation that we’re living our mission. When you look at what AshokaU is doing, it’s really holding us accountable to educate change leaders. That’s what Fordham is really about—educating students who will make positive change,” she said, noting that being a member of the network also allows Fordham to tap into resources of universities around the world that have similar missions, visions, and goals.

One of the highest-profile changes to take place at Fordham as a result of the partnership with AshokaU was the creation of the Social Innovation Collaboratory. Housed within the Gabelli School of Business but open to the entire university community, it hosted 10 social innovation applied learning and action research groups last year. The groups, which comprised 131 undergraduate and graduate students, focused on topics such as financial inclusion, sustainable fashion, climate impact initiatives, diversity, equity and inclusion, and social-impact storytelling.

AshokaU noted in its renewal letter that Fordham has shown its commitment to social innovation in multiple ways. Last fall, the collaboratory’s steering committee, which is co-chaired by Maura Mast, Ph.D., dean of Fordham College at Rose Hill, and Dean Rapaccioli, was reformulated to include more senior leadership. In March, a new assistant director position was filled at the collaboratory, and a part-time communications position will also be filled in the near future.

Fordham has also begun using a Kumu visual map to match students with opportunities for social innovation throughout the University’s schools, departments, and centers.

“It shows you the network of different things that are going on. It will help us identify the various entry points that students can take, whether it’s curricular or co-curricular, to engage in social innovation efforts,” said Lerzan Aksoy, Ph.D., associate dean of undergraduate studies and strategic initiatives and professor of marketing at the Gabelli School.

“It’s a kind of GPS for the students.”

The Ground Floor, a course that is offered to every first-year student at the Gabelli School of Business, was also retooled last fall to have a greater emphasis on social innovation. Working with mentors from the Fordham Foundry, students in the class are now tasked with forming a plan to address one of the United Nation’s Sustainable Development Goals. At the end of the semester, the plans are entered in a contest co-sponsored with PVH Corp., and the team with the best plan is awarded a $2,000 prize.

Aksoy said a good example of the direction Fordham is heading is the Ignite Scholars program, which the Gabelli School launched last year. To be admitted to the program, students must demonstrate leadership skills as well as academic success. Starting a business is one example of leadership; taking action to improving their community is another.

Resilience is a big part of the Ignite program. Associate professor Yuliya A. Komarova, Ph.D., has been organizing workshops on resilience with students, and on Sept. 26, Gabelli Social Innovation fellow and Nobel Peace Prize co-recipient Jerry White will conduct a workshop on personal transformation.

“His story is really inspiring; he worked with Princess Diana on eliminating landmines, and was himself the victim of a landmine,” Aksoy said.

“It’s not just about academics,” she said, “but also about building these really important skills and mindsets in our students.”

According to the newly unveiled American Innovation Index, (AII) each company has earned a reputation for being innovative from the ultimate authority: customers.

On Tuesday, Oct. 16, the Gabelli School of Business will host a daylong conference dedicated to exploring how these companies manage to constantly stay ahead of the curve. In addition to a keynote presentation by Malcom Frank, author of What To Do When Machines Do Everything: How to Get Ahead in a World of AI, Algorithms, Bots, and Big Data (Wiley, 2017), the conference will feature a panel discussion with senior executives from Southwest Airlines, Goodyear, Amazon, eBay, and John Deere.

Lerzan Aksoy, Ph.D., associate dean of undergraduate studies and professor of marketing at the Gabelli School, said the index, jointly created by Fordham, the Norwegian School of Economics, and market research firm Rockbridge Associates, is the first large-scale, scientifically vetted survey in the U.S. that measures a company’s innovativeness based on customers’ experiences.

“There are a lot of innovation indices out there. Most of these rely on macroeconomic indicators, or self-reports from managers or experts. But none of these indices gauge innovativeness from the customer’s perspective.  The American Innovation Index is the only national measure of customers’ perceptions of innovation,” said Aksoy, who helped develop the methodology for measuring customers’ responses.

The Top Ten

The survey, which was conducted in May, gathered the input of 7,429 consumers, and resulted in a ranking of 200 companies. The top 10 brands were Apple, Amazon, Ikea, Toyota, Netflix, Honda, John Deere, Southwest Airlines, Airbnb, and Samsung.

Aksoy said one of the biggest surprises was the dearth of technology companies among the high scorers. Apple and Netflix were the only ones to crack the top 10, while Google placed 19th, Facebook was 56th, and Twitter ranked 63rd.

“When we traditionally think about innovation, we think about technology, but it’s so much more than that. It’s about how you innovate in your industry. Maybe you break the boundaries of what your industry is, like Amazon, which is number one in the general merchandise retailer category,” she said.

“Or maybe you’re IKEA, which is innovative in getting affordable solutions that are also great designs into people’s homes. They’re also very environmentally conscious and socially innovative as well. It’s also about how you innovate when it comes to serving your customers and their needs.”

Social Innovation is Key

In addition to an AII rank, the survey also measured the degree to which companies are perceived to innovate in ways that benefit society and the environment. That Social Innovation Index (SII) score was calculated based on how customers answered three questions: How do a brands’ offerings benefit society and the environment, how much of a priority is it to the company, and how routinely does the company unveil innovative solutions to social and environmental problems. Four of the top 10 companies in the AII index were also given high marks for social innovation. John Deere, for instance, took the top spot for SII; Southwest Airlines and Ikea also scored high.

Aksoy said the survey provides a template for anyone in business who wants to be innovative, whether they’re in the C-suite, marketing, or research and development.

“I think it shows that it’s not just this one single department who is responsible for innovation, but it’s the entire organization working together to send that message,” she said.

It reinforces the importance of communication, because while the top-rated companies might be inherently innovative, this survey says they are also perceived that way by customers, she said. Aksoy said the concept of a socially innovative company is also something firms are increasingly embracing.

“It’s not just about giving to a charity; it’s about changing the DNA of your organization and the way that people think about these problems. That’s another very important lesson to be learned from this sort of an index,” she said.

“Finally, I would say it’s helpful for students who are just starting their careers. How do you pick where you’re going to work? What organizations fit who you are and the kind of an impact you want to have in the world? This is a great showcase of some of the best companies in America.”

To register for the conference, visit the American Innovation Index website.

In their new book, Aksoy and co-author Tim Keiningham, global chief strategy officer at Ipsos Loyalty, argue that many companies overlook an important gauge in customer satisfaction: the share of customers’ spending in the company. Grounded in new, rigorously-tested strategies coming out of Harvard Business and MIT Sloan School of Management, The Wallet Allocation Rule: Winning the Battle for Share (Wiley, 2015) represents an “unabashed challenge” to current customer experience management.

“We have been working on the topic of loyalty for over 15 years,” said Aksoy, a professor of marketing. “During this time we have come across lots of companies complaining about investments in making customers happier, but not necessarily paying off.”

With this conundrum as their starting point, Aksoy and Keiningham began to investigate why companies’ efforts to improve customer satisfaction or to get customers to recommend their company to others didn’t translate into market share growth. They found that most companies’ focus is far too narrow.

“The way companies go about determining what to focus on is wrong,” Aksoy said. “They focus on what makes customers happy with the company, but don’t necessarily understand—or measure—whether the same customer also shops with competitors and why. It’s really as simple as that. [The book] offers a way to determine this.”

The pair recommends in The Wallet Allocation Rule that companies shift their focus from what creates satisfied customers to why customers buy from them and their competitors. Understanding that “why” helps companies not only determine where they rank relative to their competitors in the mind of the consumer, but ultimately grow their market share.

Aksoy and Keiningham will be present for a book launch tonight at Fordham’s Lincoln Center campus. The book comes out Feb. 9.

In a study published last month in the Harvard Business Review, Lerzan Aksoy, Ph.D., associate professor of marketing, joined with colleagues from Vanderbilt University and Ipsos Loyalty to develop a formula called the Wallet Allocation Rule.

Over a two-year period, the researchers examined buying habits of 17,000 customers in several industries. They discovered that the rank that consumers assign to a brand (i.e., first choice, second choice, etc.) can actually predict the “share of wallet” relative to other brands, according to a simple mathematical formula.

Furthermore, the study reported that raising customer satisfaction levels with a brand didn’t necessarily translate to actual spending on that brand.

For example, researchers said that Walmart had a “rude awakening” when it undertook Project Impact—a 2008 remodeling initiative to improve the appearance of stores and raise customer satisfaction. Customers said they were more satisfied, but they didn’t necessarily spend more money at the store.

“Instead, what companies need to do is to move away from improving satisfaction for its own sake, and toward trying to improve their company’s relative ranking among their competitors in their customers’ minds,” Aksoy said.

Even being tied for first place is not enough; if customers choose two brands equally for first place, it means a rank of 1.5 in terms of wallet share, not one.

“Improving your rank requires minimizing the reasons your customers have for using the competition,” she said. “Customers have legitimate reasons for using multiple brands in a category.  Therefore, it is imperative to ask [customers]why they choose another brand, clearly understand those reasons, and develop strategies to address them.”

“The Wallet Allocation Rule is clear on this point: if you can’t improve your rank, you can’t improve your share of wallet.”