Jim Gardner, Executive Director of University Communications (973) 596-3433

Joe Harkins, Office of University Communications (973) 596-3438

NEWARK–Feb. 25, 1998–A team of two New Jersey Institute of Technology students placed second in the national Field Case of the Year Competition sponsored by the Small Business Institute Directors’ Association, the premier professional association of small business/entrepreneurship educators and researchers.

Kathleen Stathis, of Maywood, and Maria Krupin, of Monroe, N.Y., were recognized for their business analysis and recommendations for the Electric Launch Company, Inc., a New York-based company that builds electric motorboats and drives for pleasure boats and sailboats. The students, who graduated from NJIT’s School of Management in the spring of 1997 with M.S. in Management degrees, prepared the field case study as part of their course in entrepreneurial strategy.

The course provides students with an understanding of the decisions that guide the overall operations of an entrepreneurial business organization and how the company interacts with markets, competitors and suppliers. Students participate in classroom instruction and conduct case analysis of small firms.

NJIT’s field case projects serve clients who own or operate local businesses. Supervised by NJIT faculty, the field cases provide students with opportunities to help make lasting improvements in their client’s business operations. As a result, students learn about business, gain a sense of achievement and earn respect. Field cases culminate in a final written report that is delivered to the client. The Small Business Institute Directors’ Association competition was open to any college or university conducting field cases.

"Elco requested a business and market analysis that will identify new directions for survival and profitability," said Stathis, an assistant vice president for national consumer finance at Chase Manhattan Bank in New York City. "Elco has had a glorious past, but is now faced with significant challenges. To profitably propel the company into the next century, the company must adapt to modern boating needs."

The students made several recommendations to Elco, including increasing the price of a boat line by 20 percent, expanding the product line to include lower priced boats to attract a larger consumer market and developing a stronger dealer network.

"Being able to work with a real company and being able to make a difference was very satisfying," said Krupin, an associate director of budget and fiscal affairs at Ramapo College.

The NJIT students advanced to the national competition in Santa Fe, N.M., by winning a regional contest, defeating teams from New Jersey, New York, Puerto Rico, Virginia and foreign countries.

NJIT is a public research university enrolling nearly 8,200 undergraduate, graduate and doctoral students in 72 degree programs through its five colleges: Newark College of Engineering, School of Architecture, College of Science and Liberal Arts, the School of Management and the Albert Dorman Honors College. Research initiatives include manufacturing, microelectronics, transportation, computer science, solar astrophysics, environmental engineering and science, and architecture and building science. U.S. News and World Report's "1998 Annual Guide to America's Best Colleges" ranked NJIT among the top 175 national universities. Money Magazine's "Best College Buys 1998" rated NJIT as the sixth best value among U.S. science and technology colleges and universities.

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