Rachel Storey

Hometown: West Chicago, Illinois

Interests: Music (clarinet, saxophone), old movies, sewing, Reading (anything historical non-fiction/ fiction), the outdoors.

Faith Journey: I committed my life to Christ at the age of seven and have trusted His word ever since.

Favorite aspect of LeTourneau University: The academics at LeTourneau University are comprehensive and relevant to current issues in the world today.

  

Mentions from the Managers


Why did you choose Business Management?

I have always wanted to own a small business in which I could incorporate any one of my hobbies or interests such as sewing, floral design, reading, and cooking. Now I just need to pick one!

What has been your favorite Business Management course so far?

My favorite course so far has been Marketing Management. In this class we looked at several ways managers try to increase their company’s bottom line using various marketing techniques. It is always interesting to see the innovative ways managers utilize marketing in promoting their product or service.

What has been the most challenging Business Management concept for you?

*The Equimarginal Principle and the consumer’s optimum where “The consumer moves along his budget line, trading Y for X until the relative price of a unit of X (which is the marginal cost of that unit measured in terms of Y) is equal to the marginal rate of substitution between X and Y (which is the marginal value of that unit measured in terms of Y).”

Have you participated in any memorable projects or events for your Business Management classes?

Currently in my Compensation and Benefits class I am working on a business plan to provide a local fulfillment services group insights into implementing a new service into their business line. So far it has been a great experience to work with the company’s CEO and management team. Working on this project has brought to my attention the reality of planning efforts in view of the competitive nature of business.

What is the most important thing you have learned so far about Business Management?

It is important to establish your personal ethics code when operating in the field of management. Companies that operate on a set of values are often successful in business. Whether it is your job to establish these ethical standards or to follow those of a company you work for, you will always be faced with making ethical decisions.

Advice for prospective Business Management students.

Always take the information you’ve learned in each class (even if outside the field of management such as philosophy or psychology) and apply it to business. You will have a greater perspective on issues relating to business and in making sense of life’s experiences in general.
It is helpful to consider different companies and what they are doing (whether they are in the current news or not). Consider their values, mission statement, corporate culture, etc. You will get a better understanding of how you would like to run a business someday, or understand your company, and maintain an edge on your competitors.

*Landsburg, Steven E. Price Theory and Applications. Mason, OH: Thomson South-Western, 2011. Print.

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