STAR Annual Report 2017 - 2018

Annual Report 2017-2018

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Preface As we look back on the academic year of 2017-2018, it is clear that it has been a challenging but successful year. In July 2017, we started with 9 people as the 40th STAR Board. Last year, more than 300 Active Members joined us and committed themselves to together with the STAR Board make the difference for all RSM students. It resulted in a year full of challenges, successes, fun, new friends and a tremendous amount of learning experiences.

This Annual Report provides you with the highlights of the year 2017-2018. It portrays unforgettable events, strategic accomplishments, and STAR’s financial performance. Looking at all these results does me realize how special it actually is what we achieved together. It shows that anything is possible when people work together and turn challenges into opportunities. It has been great to see so many people grow with the help from each other.

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Preface To end, I would like to thank all the wonderful people that made all these initiatives and experiences possible. First of all, thank you to all the students of the Rotterdam School of Management that joined our events. I would like to especially thank the many Active Members that made all these events and initiatives possible: it was because of your hard work that we can look back on such a positive and strong year. We as the 40th STAR Board are also grateful for the support of our Supervisory Board and Verification Committee. Moreover, I would like to thank our faculty the Rotterdam School of Management, Erasmus University, and our corporate partners for their continuous support and trust in our association. You helped us to move the association forward. Finally, I would like to thank my fellow Board members of the 40th STAR Board for their great dedication, positive energy, and persistence last year! I trust that the 41st STAR Board will continue on a great journey and wish them all the best!

Best regards,

Marc Gijsbers Chairman 40th STAR Board rsmstar.nl

History of STAR

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. rsmstar.nl

About STAR Our best known events are the STAR Management Week, which is the largest off-campus recruitment event of the Benelux; and the Erasmus Consultancy Project, where students conduct research for companies in an emerging country. 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. rsmstar.nl

40th STAR board Marc Gijsbers

Chairman

Carlijn ten Have

Secretary

LĂŠon Hartkoorn

Treasurer

Jarno Levinga

Commercial Relations Manager

Linda Rodenburg

Brand Manager

Anouk Hokke

Project Manager Bachelor

Astrid van der Zanden

Project Manager Master & Vice Chairman

Nhu Pham

Project Manager Career & HR Manager

Per Kamerman

Information Processes Manager

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Supervisory Board Bas Louman

Chairman STAR Board

Danique Rook

Project Manager Master STAR Board

Julius Regeer

Chairman STAR Management Week

Klaas Hartman

Chairman MSC FM

Mirna Steur

Brand Manager STAR Board 12-13

Max van Soest

Information Processes Manager STAR Board

Sander Ouwejan

Project Manager Campus STAR Board

Bodine Daams

Chairman Erasmus Recruitment Days

Floor Theunissen

Secretary STAR Board 16-17

Joep Beliën

Information Processes Manager STAR Board

Anne de Jong

Commissioner of Events STAR Management Week 2016 rsmstar.nl

Verification Committee

Ron de Koning

Treasurer 36th STAR Board

Sander van Vliet

Treasurer 37th STAR Board

Okke Essing

Treasurer 38th STAR Board

Lizz Jansen

Treasurer 39th STAR Board

Rik Helsloot

Project Manager Master 39th STAR Board

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Events Eurekaweek

Augustus

After a general introduction of STAR, a lot of new students enjoyed the organized activities and became a member at STAR. BA and IBA introduction days 700 freshmen were introduced to their fellow students and STAR.

Announcement new committees The recruitment period led to 300 new active members.

STAR Lustrum Opening Party STAR’s lustrum year kicks of with an Lustrum Opening Party at Maassilo.

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Septembe r

General Assembly of Members The 40th STAR board has been officially inaugurated and the policy, financial statement and operations of the 39th STAR Board were reviewed.

Active Members Weekend

October

During a fun weekend with lots of activities, the active members of 2017-2018 had the opportunity to meet their fellow committee/MSC members.

Euro Trip to Malaga A group of students went on an exciting week to Malaga.

November STAR Management Week Two weeks in which all pillars of STAR were exposed via company visits, company dinners, in-house days, seminars, conferences and social events.

STAR Christmas Gala We started this evening with a luxury dinner at Humphreys and of course we were not ending this evening after desert but with an after party.

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December

Ski Trip The ski trip was again a very popular trip, with lots of participants

January

and fun!

Erasmus Recruitment Days The largest on-campus recruiting event in the Benelux with 2500

February

participating this year in exciting recruitment activities with over a hundred companies.

Lustrum Active Members Weekend An amazing weekend to celebrate STARs birthday with all the active members of the past 5 years.

Speaker Series Over the year the Speaker Series had several successful events with among other things David Allen.

Study Trips This year the BA Study Trip went to Hong Kong to explore the business and social of this city. The IBA Study Trip went to South Korea, Seoul.

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March

Race of the Classics The participants left from the port of Rotterdam and sailed down the Dutch and Belgian coasts.

International Week 30 students from all over the world came to Rotterdam to experience the Dutch culture.

Consultancy Castle The Netherlands best and brightest meet the top consulting firms in a great setting at a castle!

STAR RSM Case Competition They provides the most ambitious, intelligent and motivated students the possibility to compete with other business schools around the world.

Theme Nights Took place at the Vrienden Live.

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April

Lustrum Beercantus We will start the Lustrumweek with a beercantus in HAL4.

Lustrum Chic Day Always dreamed of the rich and wealthy life? This Chic Day was all about the racetracks and live the good life for a day.

Lustrum Closing Night We closed it with an even better Closing Night, danced the night away in the WTC. Open EUR Festival After a general introduction of STAR, students enjoyed themselves at the Vrienden Live with dinner and drinks.

Meet the Main Partner Get to know our main partners ING and PWC.

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May

MSC Study Trips A lot of Master Study Clubs went on trips all over the world: Silicon Valley, Tel Aviv and much more!

June

Erasmus Consultancy Project This year they did field research in Indonesia. These three weeks gave them a lot of insights in the Indonesian market and added a lot of value.

International Care Trip (iCare) This August the STAR International Care trip went to India with twenty motivated students.

Active Members Yearbook The publication of this years STAR Yearbook, where memories are kept forever.

Rebranding Introduced the rebranding of the STAR brand, which gave the whole study association a brand new face.

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July

Strategy On a yearly basis, STAR develops and executes a policy that is in line with its mission: to enrich RSM students’ life. In November 2017, the 40th STAR Board developed the policy for 2018, thereby considering the views of STAR’s main internal and external stakeholders. The policy development process has been critically reviewed, improved and supervised by experienced alumni. After the process of development, STAR’s Supervisory Board and Verification Committee reviewed and eventually approved the policy for 2018.

STAR’s

policy

is

developed

within

the

framework

of

the

association’s Strategic House 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.

Furthermore, we believe that every initiative that is organized by STAR should aim to be sustainable and have a positive impact on society. rsmstar.nl

Initiatives The Annual Report captures a high-level overview of the 2018’s policy, the defined strategic goals and objectives. On this page, you can find an overview of the seven focus points that make it possible to reach STAR’s strategic goals. However, for an in-depth explanation of the initiatives, please refer to the Policy 2018 document that can be also found on rsmstar.nl.

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Achievements Value Driver

Result

Knowledge Management

To make it easier for Active Members to work at STAR, a new structure for all information and documents was created on max.rsmstar.nl. Moreover, Active Members are now able to work in a structured manner with the help of a centralized system which is provided by Google Team Drive.

Improve Full Time Active Membership Value Proposition

A research among RSM students, current full time active members, and past full time active members was conducted. In addition, a financial analysis was carried out. The results of these researches and analysis led to a proposed change of €14.112 in the recently renamed ‘Compensation Policy’ (in the past: ‘Declaration Policy’). This proposed change was approved during the General Assembly of Members in September 2018.

Clean & Integrate IT Systems

The invoice and contract handling has been digitalized within STAR. In addition, STAR’s digital files are now stored in one central place by the help of Google Team Drive. Besides, a new online system for the STAR Management Week was created. Finally, to enhance the working experience of Active Members at STAR, a new IT environment has been implemented in STAR’s office.

Reduce Organizational Complexity

Data has been collected by interviewing Active Members about the past lines of communication within STAR. Moreover, a Frequently Asked Question document was created to help Active Members solve frequently encountered issues. On top of that, a clear communication guideline has been issued for Active Members to enhance communication within STAR. The file was published on max.rsmstar.nl

The first critical steps for the implementation of a new societal impact and sustainability strategy have been taken. During the first half of 2018, various Societal Impact & stakeholder meetings and debates have been conducted. Furthermore, longSustainability term sustainability and societal impact strategies have been formulated for rsmstar.nl committees.

Balance Sheet Assets

31-07-18

31-07-17

Intangible Assets

Liabilities & Equity

31-07-18

31-07-17

Liabilities

Share ERD

7.000

7.000

Payables

26.000

19.034

Share ERP

100.000

100.000

Service still to be delivered

49.392

45.666

Total: Intangible Assets

107.000

107.000

Total: Liabilities

75.392

64.700

Fixed Assets

Equity

Furniture

6.718

2.183

Retained Earnings

435.759

455.022

IT & Electronics

19.350

6.821

Result of the year

79.185

(19.263)

Brand Assets

16.224

(9.040)

Reservation and Provisions

32.637

83.985

Website

35.244

50.209

Total: Equity

547.581

519.744

Total: Fixed Assets

77.537

50.173

Inventory

-

6.920

Cash and Cash Equivalents

168.037

141.899

Accrual accounts

73.602

(2.193)

Receivables

196.797

280.646

Total: Current Assets

438.436

427.271 622.973

584.444

Current Assets

Total: assets

622.973 rsmstar.nl

584.444

Total: liabilities & equity

Income Statement FY 2017

FY 2016

Revenues

FY 2017

FY 2016

Office supplies

(18.861)

(20.208)

Usage & depreciation

(18.587)

(25.456)

Project costs

(50.548)

(56.532)

Day Programme costs

(69)

(516)

Traveling costs

(1.616)

(2.738)

G&A expenses (Association wide)

Contribution students

480.887

434.484

Board costs (Note 2)

(66.584)

(65.569)

Acquisition revenues

472.035

367.214

Marketing costs

(3.252)

(2.023)

Contribution other

88.546

91.960

Other costs

23.191

28.297

Sales books

(3)

161.602

Total: G&A expenses

(136.325)

(144.745)

Provision revenues

50.000

-

Financial results

Total: Revenues

1.091.465

1.055.260

Cash Register Surplus

Cost of Sales (committees)

(10)

Interest Revenues

23

392

Interest Costs

(15)

Total: Financial results

8

382

39.335

(1.350)

Office supplies

(35.774)

(36.932)

Usage & depreciation

(1.344)

(1.136)

Project costs (Note 1)

(509.885)

(442.452)

Day programme costs

(96.089)

(59.183)

Revenues and Costs previous FY

Travelling costs

(251.995)

(233.993)

Incidental results

(29.588)

(3.182)

Recruitment Costs

(478)

(4.948)

Results Erasmus Recruitment

74.153

85.547

Marketing costs

(59.285)

(60.814)

Other

(5.012)

(18.085)

Costs books

-

(153.630)

Total: Other results

78.888

62.930

(993.089)

Results

79.185

(19.263)

rsmstar.nl Total: Cost of Sales (954.851)

Other results

Financial Statement Employees; the association has no employees. All work is performed on a voluntary basis.

Exploitation surplus; the association has no objective to have an exploitation surplus. However the Association will use this exploitation surplus to improve its liquidity, which means a possible exploitation surplus is added to the retained earnings.

Audit obligation; under section 396 (6) Book 2 of the Netherlands Civil Code, the association is except 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.

Rotterdam, September 2nd, 2018 On Behalf of the Board,

LĂŠon Hartkoorn Treasurer STAR Board 2017-2018

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41st STAR Board During 2018-2019 the 41st STAR board will be there for you: Eva Duin

Chairman

DaniĂŤlle van Bommel

Secretary

Lars van Boom

Treasurer

Simon van Heijst

Commercial Relations Manager

Bas van Leeuwen

Brand Manager & HR Manager

Britt Dielemans

Project Manager Bachelor

Koen Vegter

Project Manager Master & Vice Chair

Daphne Slingerland

Project Manager Career

Max van Merwijk

Information Processes Manager

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Contact +31(0)10 408 2037 info@rsmstar.nl rsmstar.nl Visiting address: Room T04-53, T Building Erasmus University Campus Burgemeester Oudlaan 50 3062 PA Rotterdam Postal address: PO Box 1738 3000 DR Rotterdam The Netherlands

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