Drake Management Review

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The mission of the Drake Management Review is to provide an online, accessible, publication for high-quality, insightful, and thought-provoking viewpoints, commentaries, applied research articles, case studies, student/faculty research reports, and book reviews focusing on issues relevant to today’s organizational managers and academic researchers. More information & sumission guidelines can be found here: https://faculty.cbpa.drake.edu/dmr/


Recent Submissions

Now showing 1 - 5 of 54
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    Effective Cybersecurity Training Using Microlearning and the Drip Concept: A Case Study of a Large Regional Hospital
    (Drake Management Review, 2023-10) Le, Daisy; Matsuda, Cassidy; Pena, Sebastian; Platou, Ian; Olsen, Timothy
    Cybersecurity is a critical aspect of any business, with organizations investing in sophisticated software to protect sensitive data from potential hacks or breaches. However, human error remains the leading cause of security breaches. Most employees access the internet and email, exposing businesses to various risks. Businesses and organizations within all industries take action to mitigate this risk by providing cybersecurity training. For most, cybersecurity training takes the form of an annual 60-minute-long video training with a short quiz or acknowledgement for completion. This traditional format has been proven ineffective. In contrast, the drip concept employs a constant steam of information to educate and persuade. The concept comes from the practice of and ‘drip irrigation’ and ‘drip marketing’ whereby small drops of water provide constant nourishment to plants, or automated emails capture viewers attention. We propose that the use of microlearning and the drip concept will allow employees to become better educated on the topic of IT security. The microlearning technique, which involves repeating small bits of information over an extended period, has been proven effective through programs like Duolingo and Fitbit. In our paper, we explore the implementation of cybersecurity microlearning in the healthcare industry. We utilized two group interviews followed by a member check where our findings were confirmed with the informants. We found that microlearning was effective when combined with effective incentives, however several professional groups required specialized training and different engagement methods.
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    How the Internet of Things (IoT) is Adding Proactivity to Insurance
    (Drake Management Review, 2023-10) Afrank, Allyson; Bell, Matthew; Kennedy, Olivia; Upton, Jack; Yang, Mingdong
    In recent years, the insurance industry has seen a major shift in how data is used, specifically in the realm of risk prevention. Advancements in technology within the Internet of Things (IoT) have enabled more comprehensive data analysis, changing the way the industry views risk. This has led to an increased emphasis on solutions that are proactive, preventing risk as opposed to merely mitigating losses. Despite the industry being historically slow-moving and focused on response to risk, new offerings are now promoting prediction and prevention of risk. This report will explore the implementation of the Internet of Things into the insurance industry. First, the concepts of IoT and proactivity will be described. The state of the insurance industry will then be examined, followed by the culture of innovation within insurance companies and how it holds a significant role in driving the industry forward. A select overview of insurtech solutions that contribute to the theme of proactivity within IoT will be detailed. To follow, looming adoption issues will be addressed. Finally, the report will outline up-and-coming strategies in the industry, including the rising trends of integration and gamification.
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    Weathering the Storm: Evaluating Captive Insurance for Iowa Cooperatives in Crisis
    (Drake Management Review, 2023-04) Bujakowski, Douglas; Kievits, Rick
    Iowa agricultural cooperatives are facing a crisis in obtaining affordable and comprehensive property and casualty insurance due to the withdrawal of major carriers and significant increases in premiums and deductibles. The regulatory requirements for property and casualty insurance and its importance for securing commercial loans make this crisis particularly concerning. This paper examines captive insurance as an alternative for Iowa cooperatives, outlining the benefits and challenges of a self-insurance model. While captive insurance offers customization, potential cost savings, tax incentives, and risk management benefits, cooperatives must consider high start-up costs, limited risk pooling, and selective admission. The paper also discusses strategies for overcoming these challenges, such as purchasing reinsurance and diversifying captive membership. The issue will be further explored at an upcoming cooperative CFO conference in June 2023.
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    Career Opportunities in the Iowa Insurance Industry
    (Drake Management Review, 2023-04) Croft, Kevin
    The Iowa insurance industry is an economic powerhouse, creating an $8.9 billion impact in the Des Moines – West Des Moines MSA alone. The industry’s scale has spawned two start-up accelerators focused on insurtech, each with a global reach. The Iowa workforce has experienced twenty-five percent growth since 2000. Insurance carriers are attractive employers exhibited through a high level of compensation, wage growth at a rate above the national average, and a suite of employee benefits that are generous, flexible, and well-aligned with the desires of generation Z. Over the next decade, nearly twenty percent of the workforce will reach retirement age. This retirement wave will create rapid advancement opportunities for younger employees, especially those with skills in technology, data analytics, distribution, and product development. The demand for actuaries is expected to grow at a rate three times greater than the average occupation while actuarial compensation exceeds the median annual salary of other mathematical science occupations. Actuarial careers are consistently ranked among the best in both business and STEM fields and have above-average upward mobility.
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    Suggestions for Solving Cheating Scandals at Public Accounting Firms
    (Drake Management Review, 2023-04) Simms, Kathryn; Li, Yiwen
    The purpose of this paper is to provide suggestions that may help to resolve problems that public accounting firms have experienced with employees cheating on the AICPA’s ethics exam and on training exams, including Continuing Professional Education (CPE) exams. To form these suggestions, we analyzed the recent cheating scandal at Ernst & Young (EY) that was widely publicized in June 2022. Our suggestions include: (1) impose more effective penalties and deterrents; (2) redesign the ethics exam; (3) implement mandatory time for CPE and provide confidential outplacement services, and (4) rethink CPE requirements for the profession as a whole.