STAR Annual Report 2018-2019

Annual Report 2018-2019

Word of the Chairman In the blink of an eye, the academic year 2018-2019 has come to an end and it is time for us, as the XLIst STAR board, to say goodbye. Before we do so, we’re looking back on what STAR has accomplished this year. This annual report provides you with a comprehensive overview of the year 2018-2019 and its events, strategic accomplishments and STAR’s financial performance.

2018-2019 was the year our new brand was launched, which facilitated our focus on openness while creating unity among all existing STAR flagships.

Moreover, we have combined our forces with RSM and organized two new events together: RSM STAR Sustainability Forum and RSM STAR Entrepreneurship Challenge. On the other hand, we have critically analysed our current activities to make sure they are aligned with our mission: ‘Enrich RSM student life.’

From September 2018 onwards, around 300 active members joined us for the adventure and all events we have been able to host are the result of their everlasting dedication. Throughout the year, we have experienced personal as well as professional growth together and made friends for life. I am truly grateful to have had the opportunity to experience this with a group of such motivated and inspirational people.

Furthermore, I would like to thank the other parties that have played an essential role this year. Firstly, the Supervisory Board and Verification Committee, whose endless dedication and valuable advice have guided us through this year and enabled this year’s achievements.

XLIst STAR Board Secondly, Rotterdam School of Management, Erasmus University and our main partners. Their unceasing support and the successful collaborations have played an important role in the continuous success of the association.

This annual report provides you with an overview of the impact we’ve had this year and I am extremely proud of my fellow board members. It’s been an honour and a blast to experience this with you! Now, we hand the responsibilities over to the XLIInd board with full confidence and we want to wish them all the best in continuing STARs journey.

On behalf of the XLIst STAR board, Eva Duin Chairman XLIst STAR board

History of STAR Rotterdam School of Management In 1969 the ‘Interfaculteit Bedrijfskunde’ (and later on ‘Interuniversitair Instituut Bedrijfskunde’ – llB) was established, a joint initiative of various faculties of both Erasmus University and Delft University of Technology. In 1977, S.V.I.I.B. (Studievereniging IIB) was founded, an association focused on external contracts, internal contracts with scientific staff, and, of course, mutual contacts among business students. The exact meaning of S.V.I.I.B. was lost in 1984, when the faculty of Business Administration became an official part of Erasmus University,and so the name changed to Sviib.

As with the establishment of Rotterdam School of Management (RSM) as we know it today, which led to a more cohesive organization of BA, IBA, and MBA studies, the aim was to achieve the same cooperation among study associations. Several daughter associations were established and later on consolidated as Master Study Clubs. More importantly, in early August 2005, Sviib and Bactive (association for students of the program in International Business Administration) merged to become STAR (Study Association of the Rotterdam school of Management), an association of both worlds and an international focus.

About STAR Our best known events are the STAR Management Week, which is the largest off-campus recruitment event of the Benelux; and STAR Erasmus Consulting, where students conduct research for companies in countries all around the world. Together with EFR, the study association of Erasmus School of Economics, STAR organizes the Erasmus Recruitment Days, which is the largest on campus recruitment event in Europe. Moreover, STAR hosts the RSM STAR Case Competition, where twelve teams from top business schools from all around the world compete with each other by presenting their solutions to real-life business cases. Lastly, during Consultancy Castle seven top Strategy Consulting firms present their company and host workshops to challenge and recruit students.

XLIst STAR Board Eva Duin DaniĂŤlle van Bommel Lars van Boom Simon van Heijst Bas van Leeuwen Britt Dielemans Koen Vegter Daphne Slingerland Max van Merwijk

Chairman Secretary Treasurer Commercial Relations Manager Brand Manager & HR Manager Project Manager Bachelor Project Manager Master Project Manager Career Information Processes Manager

XLIst STAR Board

Supervisory Board Bas Louwman Mirna Steur Danique Rook Sander Ouwejan Joep Beliën Floor Theunissen Max van Soest Léon Hartkoorn Klaas Hartman Julius Regeer Anne de Jong Bodine Daams

Chairman 36th STAR Board Brand Manager 35th STAR Board Project Manager Master 38th STAR Board Project Manager Campus 38th STAR Board Information Process Manager 38th STAR Board Secretary & HR Manager 39th STAR Board Information Processes Manager 39th STAR Board Treasurer 40th STAR Board Chairman Master Study Club Financial Management Chairman STAR Management Week 2015 Commissioner of Events STAR Management Week 2016 Chairman Erasmus Recruitment Days 2017

Verification Committee Ron de Koning Sander van Vliet Lizz Jansen Rik Helsloot Léon Hartkoorn Per Kamerman Iza Kwaaitaal

Treasurer 36th STAR Board Treasurer 37th STAR Board Treasurer 39th STAR Board Project Manager Master 39th STAR Board Treasurer 40th STAR Board Information Processes Manager 40th STAR Board Treasurer STAR Management Week 2017

Events With approximately 56 committees, Master Study Clubs and a variety of skilled students we have several options for a nice collaboration. We are open to suggestions and feel free to contact us if you would like to receive some extra information.

Race of the Classics

Study Trip

At the largest student sailing event of Europe, over 500 students will compete with large tall ships on the Northern Sea in the first week of April in order to take the cup home.

• Product Sponsoring • Exposure on Products Study Trips

Students will discover foreign countries and will get the chance to develop themselves in an academic, cultural, social and business environment.

• Company Visits • Product Sponsoring • Exposure on Products

Introduction Days

International Week

A long weekend filled with social activities in order to welcome all upcoming freshmen students of the Rotterdam School of Management.

• Product Sponsoring • Exposure on Products

Students from all over the world will visit Rotterdam in order to discover the Dutch culture and business environment.

• Company Visits • Product Sponsoring • Exposure on Products

Speaker Series Key note speakers from varies area of business are invited to the Erasmus University, in order to inspire the student.

• Speakers • Locations

RSM STAR Sustainability Forum During the RSM STAR Sustainability Forum, students, faculty and thought leaders seeked to answer the question: ‘Business for the better?’ regarding sustainable practices and the future of business.

Eurekaweek During the annual introduction week, the so-called Eurekaweek, STAR will be present in order to introduce our association to the new freshmen students.

• Product Sponsoring • Exposure on Products

Ski Trip

An organized ski trip in January especially for RSM students.

• Product Sponsoring • Exposure on Products

Strategy On a yearly basis, STAR develops and executes a policy that is in line with its mission: ‘to enrich RSM student life’. In November 2018, the XLIst STAR board developed the policy for 2019, thereby considering the views of STAR’s main internal and external stakeholders. The policy development process has been critically reviewed, improved and supervised by STAR alumni with relevant experience. STAR’s Supervisory Board and Verification Committee have reviewed the final policy for 2019 and it was officially approved at the General Assembly of Members in March 2019.

STAR’s policy is developed within the framework of the association’s longterm strategy consisting of three strategic pillars, namely: Career Start Support, Development & Academic Support and Social Interaction. These three pillars are underpinned by the personal and professional development of our active members and the belief that every initiative at STAR should aim to have a positive impact on society.

Initiatives The policy for 2019 exists of eight initiatives, focusing on the following three areas: •

•

•

Assessing and adjusting STAR’s committee structure to establish a

balanced portfolio, aligning it with the interests and needs of RSM students and the new RSM BSc curriculum; Creating an IT environment that enables data driven decision making, resulting in a more comprehensive understanding of trends; Improving STARs career and academic pillar to better fulfil the needs of RSM students.

This annual report gives you a high-level overview of STARs policy for 2019 and its defined strategic goals and objectives. For an in-depth explanation of all initiatives, I refer you to the policy 2019 document that can be found at rsmstar.nl

Achievements Value Driver

Result

Optimize training curriculum

STAR’s training curriculum has been evaluated and a year plan for the year 2019-2020 has been determined, which will be executed from September 2019 on and evaluated by the end of 2019.

Redesign Master portfolio

An evaluation of the master portfolio has taken place and four points of improvement have been defined, for which multiple action points are determined. This will result in more structure in the Master Portfolio.

Redesign Bachelor portfolio

Opportunities and threats of the changing bachelor curriculum have been defined and a few committees will be excluded from the bachelor portfolio, to facilitate focus on quality of all events and make room for new committee opportunities.

Upgrade Erasmus Recruitment Platform

A critical analysis of the current ERP has taken place, problems have been defined and a plan for an improved platform has been determined, which will be further developed and implemented by the XLIInd STAR board and EFR.

Value Driver

Result

Establish Academic Platform

A study page has been added to the STAR website where content such as books, summaries, trainings and study videos can be found, which will be tested in trimester 1 of 20192020.

Introduce Career Orientated Events

A proposal for three career orientation events has been written and presented to RSM, with the goal to implement them into the relevant courses of the bachelor curriculum.

Implement Data Driven Decision Making

The membership database has been cleaned and a coupling between Salesforce and Tableau has been created, resulting in a clear overview of our membership data, facilitating a better and easier use of our gathered data.

Realize and Adhere to STAR values

Five values were defined, which will be implemented by having active members actively think about how to incorporate them during the on boarding. Externally, the values will be spread through multiple sources to create awareness.

Balance Sheet Assets

31/07/2019 31/07/2018

Intangible Assets Share ERD

7.000

7.000

Share ERP

70.000

100.000

Total: Intangible Assets

77.000

107.000

Furniture

5.723

6.718

IT & Electronics

14.657

19.350

Brand Assets

24.518

16.224

Website

24.417

34.932

Total: Fixed Assets

69.315

77.225

Inventory

-

-

Cash and Cash Equivalents

331.962

168.037

Accrual Accounts

482

73.602

Receivables

116.507

196.797

Total: Current Assets

448.951

438.436

Total: Assets

595.266

622.661

Fixed Assets

Current Assets

Balance Sheet (continued)

Liabilities & Equity

31/07/2019 31/07/2018

Liabilities Payables

6.226

26.000

Services still to be delivered

37.378

49.392

Total: Liabilities

43.604

75.392

Retained Earnings

514.632

435.759

Result of the year

6.495

78.873

Reservations and Provisions

30.535

32.637

Total: Equity

551.662

547.269

Total: Equity and Liabilities

595.266

622.661

Equity

Income Statement Revenues

FY 2018

FY 2017

Contribution students

411.787

480.887

Acquisition revenues

356.073

472.035

Contribution other

98.822

88.546

Sales books

-

(3)

Provision revenues

-

50.000

Total: Revenues

866.682

1.091.465

Office supplies

(34.005)

(35.774)

Usage & depreciation

(432)

(1.344)

Project costs (Note 2)

(421.366)

(509.885)

Day programme costs

(61.282)

(96.089)

Travelling costs

(223.571)

(251.995)

Recruitment costs

(83)

(478)

Marketing costs

(66.563)

(59.285)

Costs books

-

-

Total: Cost of Sales

(807.302)

(954.851)

Revenues

Cost of Sales (committees)

Note 1

FY 2018

FY 2017

Note 2

FY 2018

FY 2017

Project costs

Board costs

421.366

509.885

30.658

66.584

Location costs

224.996

236.879

Recruitment costs

2.680

1.808

Food & beverages

153.352

206.947

Costs HR Policy

27.978

64.776

Other project costs

43.019

66.059

Audit obligation Under section 396 (6) Book 2 of the Netherlands Civil Code, the association is exempt from the obligation to have the financial statements audited by an auditor. Consequently, no audit has been requested and therefore no auditor’s report has been issued.

Income Statement (continued) Revenues

FY 2018

FY 2017

Office supplies

(18.374)

(18.861)

Usage & depreciation

(48.736)

(18.899)

Project costs

(58.767)

(50.548)

Day programme costs

-

(69)

Travelling costs

(1.398)

(1.616)

Board costs (Note 3)

(30.658)

(66.584)

Marketing costs

(3.351)

(3.252)

Other costs

28.283

23.191

Total: G&A expenses

(133.001)

(136.638)

Cash register surplus

-

-

Interest revenues

10

23

Interest costs

-

(15)

Total: Financial results

10

9

Revenues and costs previous book year

(11.628)

39.335

Incidental results

2.166

(29.588)

Result Erasmus Recruitment

77.552

74.153

Other

12.015

(5.012)

Total: Other results

80.106

78.888

Result

6.495

78.873

G&A expenses

Financial results

Other results

XLIInd STAR Board During the academic year of 2019-2020, the XLIInd STAR Board will be there for you.

Tommy van Thiel Eva de Graaf Michiel Colijn Meike Conijn Jaap Cox Lisa van Embden Tristan Boer Niek Kirchner Lars van Straaten

XLIInd STAR Board

Chairman Secretary & HR Manager Treasurer Commercial Relations Manager Brand Manager Project Manager Bachelor Project Manager Master Project Manager Career Information Processes Manager

Colophon Authors: Eva Duin, Lars van Boom & Bas van Leeuwen Copyright Š 2019 Study Association Rotterdam School of Management, Erasmus University Besides legal exceptions nothing in this publication may be copied and/or made public without prior permission from the publisher. We have taken the utmost care in compling this publication. However, we are not responsible for errors or incomplete information.

Postal address: PO Box 1738 3000 DR Rotterdam The Netherlands

Official Study Association of Rotterdam School of Management, Erasmus University

Visiting address: Room T04-53, T Building Erasmus University Campus Burgemeester Oudlaan 50 3062 PA Rotterdam T +31 (0)10 408 20 48 F +31 (0)10 408 90 23 E info@rsmstar.nl W www.rsmstar.nl