Builders &Leaders
Boston University School of Management
transforming the undergraduate experience
inside Digital Learning Studio Expands Learning Options Questrom Foundation Provides Major Gift Commencement 2012
Creating Value for the World SM
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Alex TAnguAy (BSBA’02)
Why I gIve to BU Since 2007, Alex Tanguay (BSBA’02), assistant vice president at Merrill Lynch and partner within the Barcomb Group, has been a member of the BU Annual Fund Leadership Giving Society. As a certified financial planner, he personally knows the importance of philanthropic support for the School of Management.
“Giving is an investment in the University; the School is playing a critical role in educating future business leaders,” he says. “BU provided me a scholarship, which enabled me to attend, and I’ve been very fortunate to have benefited from that generosity in my professional and day-to-day life. “I look at donating to the School as giving back and helping to further the mission. Dean Freeman often refers to the three T’s: your time, talent, and treasure. Whatever you can do for BU pays back dividends to yourself, the region, and the global community.” Tanguay is looking forward to his tenth reunion on September 21. “I wouldn’t miss it for anything.”
To learn more about the Annual Fund Leadership Giving Society, this year’s reunion, and other events, or how to get involved, visit management.bu.edu/alumni/
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Boston University School of Management
Summer2012 595 COMMOnwEaLth
SMG Centennial Starts September 2013 Plans underway for year-long celebration. 4
SMG Rising in Rankings 3 INML Wins “Out of the Blue” Grant 4 Questrom Foundation Gives $10 Million 5 In Memoriam 6 Honors Program’s Spring Service Trip 6 Global Business Brigades in Panama 6
Commencement 2012 Caps, gowns, tears, and cheers. 14
Apps from SMG 7 More Case Events; SMG Teams Excel 8 PROFiLES
Andrei Razov (BSBA’12) 11 Selena Su (BSBA’14) 12 Phil Duffy (IMBA’12) 13 FEatURE StORiES
Phil Duffy (IMBA’12) Redesigning a design career. 13
On the cover: Elisse thurston (BSBA’12)
Transforming the Undergraduate Experience 16 Digital Learning Studio 21 FaCULty
Patricia Cortés: In-home Help Supports Professional Women 24 James Rebitzer: Unhealthy Insurance Markets 25 Faculty Accolades 26 Faculty Research & Teaching Days 27 Conversations with Ken 27 aLUMni
YJ Han (MBA’79) Leads BUAAC 28 Connect with Fellow Alumni 30 Seeking Alumni Mentors 30 Fund Established to Honor Peter Arnold 31 ARGUS Training on Campus 31 LaSt wORD
Lucy Halperin Zaro (CGS’75 , BSBA’77) IBC Builders & Leaders is published twice a year for alumni, students, and friends by Boston University School of Management. Please address comments or questions to: Builders & Leaders, Boston University School of Management, 595 Commonwealth Avenue, Boston, MA 02215; Phone: 617.353.3582, Fax: 617.353.5581, email: smgedit@bu.edu, www.bu.edu/builders-leaders. ©2012 by the Board of Trustees of Boston University. All rights reserved.
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Builders
&Leaders
DEan’S MESSaGE
BOStOn UnivERSity SChOOL OF ManaGEMEnt ALLen QUeSTROM PROFeSSOR And deAn
Kenneth W. Freeman SenIOR ASSOCIATe deAn
Karen Golden-Biddle ASSOCIATe deAn, FInAnCe And AdMInISTRATIOn
Martin Carter ASSOCIATe deAn, exeCUTIve edUCATIOn
Michael Lawson ASSISTAnT deAn, GRAdUATe AdMISSIOnS
Patricia Cudney ASSISTAnT deAn, CAReeR SeRvICeS
James O’neill ASSISTAnT deAn, GRAdUATe PROGRAMS
Katherine nolan ASSISTAnT deAn, UndeRGRAdUATe PROGRAM
Sandra Procopio dIReCTOR OF AdvAnCeMenT
Christopher Haley dIReCTOR OF ALUMnI ReLATIOnS
Sarah Murray BUiLDERS & LEaDERS edITOR
John diCocco CReATIve
david Linde
emergedesigngroup.com COnTRIBUTORS
Steven davidson Adriane dean Lauren dezenski Andrea Little Michael Pina Judy Rakowsky Tracy Slater Amy Sutherland PHOTOGRAPHy & ILLUSTRATIOn CRedITS
BU Photo Services Julie Cordeiro Adriane dean John diCocco diallo Ferguson ShutterStock.com Cover: Julie Cordeiro
TRANSFORMATION Remarkable things are happening at Boston University School of Management. We are in the midst of transforming the School into one of the world’s elite business schools, building on the strong foundation created over almost twenty years by dean emeritus Lou Lataif (BSBA’61, Hon.’90) and the broad SMG community. Our second century is rapidly approaching, with celebrations to begin in September 2013 as we bring the strategic vision of “Creating Value for the World” to life. This spring, the faculty approved the major redesign of our undergraduate and full-time MBA curricula, with implementation to take place during our centennial year. Our state-of-the-art digital Learning Studio is up and running, and garnering international attention. The Allen & Kelli Questrom Foundation gave an inspirational gift to the School, endowing two additional faculty chairs, and providing initial funding as we begin preparations to build an addition to the School behind 595 Commonwealth Avenue, facing Bay State Road. The School and the department of Marketing just concluded hosting the annual international conference of quantitative marketing scholars (InFORMS), more than 1,000 academics from all over the world who are helping define the future of analytics for marketing. Our undergraduate program improved 13 positions to #18 in the United States in the recently announced Bloomberg Businessweek ranking. Our custom executive education programs moved up to #2 in the United States and #5 in the world in the Financial Times ranking. your School has momentum. The transformation is underway. These are exciting times! Thank you for your support. We look forward to continuing the journey with you. Sincerely,
Allen Questrom Professor and dean Boston University School of Management
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SMG Rising: 18th in US
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FROM BU TOdAy | By AMy SUTHeRLAnd
“The School ranked 12th in academic quality among US business schools.”
he School of Management sprinted into the top 20 undergraduate business schools nationally in the latest Bloomberg Businessweek ranking, leaping 13 spots to number 18. It’s the highest position ever given by the magazine to SMG, which just three years ago placed 43rd, and it marks “a remarkable rise,” said Steven Davidson, the School’s director of learning assessment and research. Businessweek, which ranked 124 schools nationally, lauded SMG’s academics and cited employers’ growing awareness of its quality. “The School ranked 12th in academic quality among US business schools. They earned top marks in the areas of business students with internships (86 percent) and hours of time spent on class work per week (15.5),” a magazine spokesman said by email. The rankings are based partly on comments from students, who “specifically mentioned the required Core program as a high point, as well as the strength of business faculty,” the spokesman noted. (See more on the Core and the evolving curriculum on page 16.) “We are very pleased with the ranking improvement, which recognizes the work of SMG’s team of talented faculty and dedicated staff,” said Kenneth Freeman, Allen Questrom Professor and dean of SMG. “This represents an important step as we strive to become one of the world’s elite business schools.” “Besides surveying students, the magazine polled 257 employers on the quality of the schools’ graduates, curricula, and career services,” said davidson. It also compared schools on the number of graduates they funnel into top MBA programs and on the starting salaries of graduates. ExECUtivE EDUCatiOn naMED 2nD in US The School of Management’s executive education custom programs were recently ranked second in the United States and fifth in the world by the Financial Times. Such rankings are only possible when you have a dedicated faculty that is able to deliver timely, relevant material to a demanding customer base: the businesses and organizations working in a competitive economy seeking every advantage possible. The School’s executive education offerings are designed to take highachieving managers and leaders—and their organizations—to the next level. In both custom programs and open enrollment programs, middle- and seniorlevel managers have direct access to the School’s senior faculty, all of whom are scholars and practitioners with deep industry knowledge as well as a talent for teaching. The rankings are also the result of satisfied customers who return year after year for new programs—customers including IBM, ericsson, and the government of South Korea.
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New Faculty Books The School of Management faculty has published several new books this year. To see the entire list, visit the School website.
SMG Centennial: September 2013 After 100 years of innovation in management education, Boston University School of Management is not resting on its laurels. (See the cover story about the Undergraduate Curriculum, page 16.) Since Everett W. Lord served as the first dean from 1913 until 1941, the School has had several firsts, including early acceptance of women, the first public and nonprofit management MBA program (1973), and one of the first healthcare management MBA programs (1975). The School is planning a host of celebratory events from September 2013 through Spring 2014.
The School’s first home on Boylston Street, Boston.
MBa PROGRaM’S intERnatiOnaL RECOGnitiOn All around the world, the School is climbing in recognition and renown. In its 2012 ranking, América Economía, based in Chile, named the School of Management 15th in the US and 29th in the world. Expansión magazine of Mexico named Boston University 19th on its list of “Top International MBAs,” and 39th in the world. In The Economist’s most recent ranking (2011), the MBA Program was 30th in the US, 49th in the world. U.S. News & World Report’s 2012 list ranked the MBA Program 37th in the US. EvEninG MBa BESt in BOStOn The School of Management’s Professional evening MBA (PeMBA) Program was again ranked first in Boston, and rose seven positions to place 25th in the nation, by U.S. News & World Report. Part-time MBA rankings by U.S. News are based on measures of academic quality and peer ratings from business school deans and MBA program directors at each of the nation’s accredited 326 part-time MBA programs. U.S. News & World Report also republished the Healthcare Management Ranking, where Boston University remained 11th overall in the nation. To learn more about the School’s rankings, visit bit.ly/smg-rankings. inML winS $100,000 awaRD In March, the Institute for nonprofit Management and Leadership (InML) at Boston University was awarded a Boston Foundation “Out of the Blue” grant. The $100,000 awards are given annually to “exemplary organizations that demonstrated an impressive level of achievement as community leaders, have demonstrated effective and collaborative community leadership, and are directed by strong, stable executive and volunteer leadership.” now in its fifth year, the InML has graduated more than 250 students from its core certificate program for nonprofit senior managers and executive directors. In Fall 2012, InML will launch the Community Fellows Program, a certificate program geared toward young, urban nonprofit leaders. InML also offers a Board Leadership Seminar comprised of three sessions held two or three times annually. These sessions are geared toward nonprofit board members interested in furthering their knowledge of and impact on boards. Learn more at bu.edu/inml.
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Questroms Give $10M Foundation Endows Professorships and More
First in Class
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llen Questrom (BSBA’64) and his wife, Kelli, have given a $10 million gift from the Allen & Kelli Questrom Foundation to Boston University School of Management, which Questrom credits with launching his 39-year career as a leader in retail. Questrom, a member of the BU Board of Trustees, is a former chairman of the board and chief executive officer of the J.C. Penney Company, neiman Marcus, Barneys new york, and Federated department Stores, Inc., which today is known as Macy’s. “I wouldn’t have found a fitting career in retailing without BU, so I have a very clear responsibility to give back,” says Questrom. The new gift will endow two professorships and serve as an early boost to plans for a new School of Management executive education Center, to be located on Bay State Road. Kenneth Freeman, the Allen Questrom Professor and dean of SMG, says, “This represents one of the most significant gifts in the history of the School of Management.” Freeman describes Questrom as “an icon of corporate America.” The professorships will have many indirect impacts as the faculty increases its emphasis on ethics in business. “That’s
“I wouldn’t have found a fitting career in retailing without BU, so I have a very clear responsibility to give back.” the beauty of the Questrom name, which is synonymous with business success, business results, and the highest integrity,” Freeman says. “We are grateful that Allen and Kelli Questrom share with us a vision for the future of the School of Management, and that they are willing to so generously help make our aspirations a reality,” says University President Robert A. Brown. “Their gift will help to attract and support distinguished faculty members and seed the fundraising for a new extension to the School’s facilities and help place SMG at the forefront of business schools worldwide.” In 2007, the Allen & Kelli Questrom Foundation gave $4 million for the endowed deanship (the only endowed deanship at BU) and professorship. Former SMG dean Louis Lataif (BSBA’61, Hon.’90) was the first Allen Questrom Professor and dean.
Every year, senior and graduate classes across the University compete for the honor of highest percentage of donors to the Class Gift. Many BU schools and colleges, including SMG, promote the competition internally. “Ideally we want to build a culture of philanthropy at BU,” says Joel Carlton-Gysan, SMG development and alumni officer, “and educate the entire SMG community about how their gifts will help the next generation of students just like they have benefitted from gifts by alumni. Annual Fund gifts are used for career services, student services and activities, and new technology to name just a few areas. Alumni participation in the Annual Fund also builds the reputation of the School. This competition isn’t about the dollar amount donated, but about participating at any level, to influence the mindset of giving.” On the last day of the very close 2012 competition, SMG seniors pulled ahead and won with a 61 percent participation rate.
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In Memoriam Kanagala Seshadri Rao (MSMF’13), a graduate student in the School’s mathematical finance program, tragically lost his life on April 19 in Allston. A memorial service at the School in May drew hundreds. Daniela Lekhno (BSBA’13) died in a car crash during a study abroad trip in New Zealand on May 12. Roch Jauberty (CAS’14) and Austin Brashears (ENG’13) also lost their lives. Dean Ken Freeman said, “The SMG community is deeply saddened by the tragic loss of our students. Our thoughts and prayers are with their families and friends.”
SMG hOnORS PROGRaM’S SPRinG SERviCE tRiP Boston University always has an enormous number of students participate in Alternative Spring Breaks, and School of Management students have been well represented among them. This spring, a group of undergrad School of Management Honors Program students decided to travel to the nation’s capital for an alternative alternative spring break, or as the honors program billed it, the Spring Service Trip. “Between the people we met, the work we were able to do, and the cultural experience of being in dC, it was a great educational week,” said Liz Katz, assistant director in the Undergraduate Program Office and one of the trip’s two advisors. The group helped out at two supportive housing sites for formerly homeless families, helped prepare meals from local ingredients for public school students at dC Central Kitchen’s program Fresh Start, and spent a day at the Capital Area Food Bank inspecting and sorting through donations. “I feel the most valuable experience for the students was their exposure to the homeless people’s dining room,” Katz said. “It wasn’t just the ‘obviously’ homeless. There were people there in work uniforms, some families as neat and clean as could be. you got the sense they could have been your neighbors and friends. It put a really different face on hunger and homelessness.” The trip itself was the Honors Program student leaders’ response to the increased requirement in volunteer hours for freshmen honors students, and the brain child of Selena Su (BSBA’14). (See her profile on page 12.) Rebecca Lang (BSBA’15) said, “By being able to volunteer over spring break and to brighten the days of those people whom we served, I’m proud to say that I’m a part of an honors program that is full of humble and kind people.” GLOBaL BUSinESS BRiGaDES in PanaMa, BUSinESS SkiLLS aS antiPOvERty tOOLS This January, the Boston University chapter of the Global Business Brigades made its first trip to Panama, where the group of 11 students taught business skills to an indigenous population. “The Global Business Brigades has had a presence on BU’s campus for the past couple of years,” says chapter president Stephanie Stanczyk (BSBA’14), “but this was the first year a large enough group could commit to a brigade.” dedicated to improving equality, the group calls itself the world’s largest student-led social responsibility movement. The Global Business Brigades, one of the nine programs within the Global Brigades’ organization dedicated to global health and sustainable development, has the mission to empower rural communities in underdeveloped countries without access to financial services and business guidance by providing consulting, financial planning, and strategic investment. With the help of Spanish translators, the group of BU undergrad business and economics students volunteered in Ipeti embera, a community three hours east of Panama City. “We taught a lot of the basic accounting skills that they would need in order to develop their own businesses,” Stanczyk said. The students broke into small groups and met with three different families per group. In the meetings, students learned how much each family made, what they did for a living, and future goals.
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Appsolutely Great EMBA and IMBA Create Student Apps
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By MICHAeL PInA
he executive MBA Program (eMBA) released its first custom iPad application this spring. The eMBA Program has continued to evolve its digital strategy, first by including all course material on the iPad (beginning two years ago), then offering access to e-textbooks as well as tools for editing and note-taking, and more recently to support the curriculum in the classroom. All students are provided an iPad as part of their tuition. Students who travel frequently have found the tool to be a major step forward in simplifying convenient access to information. “My iPad gives me access to everything I need to complete my assignments wherever I am: books, assignments, email, Webex,” says Peter Speiss (eMBA’13). “Given the workload of the eMBA Program, it’s important to use every spare minute effectively, and this allows me to do just that.” For prospective students, the BU eMBA app provides easy access to faculty profiles, information session registration dates and sign up forms, alumni videos, current blogs, and social media sites. And there’s more to come.
“My iPad gives me access to everything I need to complete my assignments wherever I am: books, assignments, email, and WebEx.”
iMBa a hits 25, Connects alums The International MBA Program (IMBA) turns 25 this year, and Amanda Miller (IMBA’99), director of the program, was looking for an easier way to connect alumni with each other and current students. The School’s IT department and the IMBA alumni board concluded a mobile app could be the answer. That week, Miller came across an article about a company called everTrue that provides customizable content platforms for schools, corporations, and nonprofits to connect alumni. even better: one of the startup’s two co-founders happens to be recent BU graduate Eric Carlstrom (MBA’09), whose company had already amassed over 50 clients, including Brown and Cornell. “We focus our entire company around building great applications that solve specific problems,” Carlstrom said. “And those problems are networking within alumni groups, and then also creating an engaging experience for alumni.” “Any time we can connect alumni with other alumni businesses and products is a great opportunity,” said Miller. The free IMBA app is available for iPhones, iPads, and Android devices from both iTunes and the Android store. Current students or graduates of the program are able to explore a community from both the past and present and access all the information that they’d like to share. To keep each individual’s profile as up-to-date as possible, the app automatically syncs with LinkedIn. It is also connected to the Program’s Twitter account, youTube channel, and Facebook group, giving users a convenient way to see what’s going on at the School just by pulling a smartphone out of their pocket and tapping a few icons. Using GPS tracking, those who have downloaded the application have the option of showing their exact location by way of Google Maps connecting to the School’s database.
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SMG Is On the Case Teams Excel in Case Competitions By JOHn dICOCCO And LAURen dezenSKI
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t has been a busy— and rewarding—year for School of Management students participating in case competitions. Next year will be even busier with the addition of the DePuy Spine Global Health Sector Interdisciplinary Case Competition.
DEPUy GLOBaL hEaLth CaSE COMPEtitiOn—Coming november 2012
The first annual dePuy Spine Global Health Sector Interdisciplinary Case Competition will be held at the School of Management the weekend of november 1-3. The event will be modeled in format after the very successful BU International Tech Strategy Business Case Competition. Given the long history of the Health Sector Management MBA Program at the School, and the collaboration between the Boston University Schools of Management, engineering, Medicine, and Public Health, the event is a natural fit. Mark Allan (MBA’93), lecturer, executive-in-residence, faculty director of the Health Sector Management Program, and director for the competition, says, “The context is the partnership the School is building with corporations and nonprofits. Allen Questrom Professor and dean Ken Freeman is seeking multiple ways to develop win-win opportunities with organizations to expose companies to our students and vice-versa (to create job and internship opportunities), and to spur research, innovation for both industry and education, and value creation for both.” For the dePuy event, host BU is inviting teams from five other elite programs in the United States and six from nations around the world. In addition, the fourperson teams must have one or two non-MBAs among them, such as students from their home schools of medicine or engineering. dePuy Spine, a division of Johnson & Johnson based in Raynham, MA, is providing sponsorship funding, including $20,000 that will be shared among the winning team. Max Reinhardt, vP of worldwide marketing for dePuy Spine, provided insight about the company’s participation. “We’re sponsoring because we feel, given our interactions with a number of interns from BU SMG and enG over the years, plus the vision of ‘One BU,’ that it’s a great fit for the company. We’ve hired interns from several universities—the young people from BU have really impressed us. “Plus we’re looking to learn,” Reinhardt adds. “We value diversity in the workplace, and a diversity of ideas. The case competition will allow us to hear input from a variety of smart people.”
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UnC winS 2012 intERnatiOnaL tECh StRatEGy CaSE COMPEtitiOn
now in its seventh year, the ericsson International Tech Strategy Case Competition has become a signature School of Management event. The School invites 15 MBA teams representing top business schools from all over the world to join host BU. It allows students to compete for a $25,000 first prize and put their knowledge on display in front of senior executives in the fields of IT and telecommunications. Several senior managers from ericsson, the event’s sponsor, participate in the judging during the course of attending an executive leadership program at the School. The team from the Kenan-Flagler Business School, University of north Carolina, Chapel Hill won first place in the 2012 event. The other finalists included Hong Kong University of Science and Technology, second; duke University, third; and University of Southern California, fourth. The invitation-only, 24-hour competition challenges business students to help solve real issues that face global technology leaders. The event took place at Boston University March 29-31, 2012. This is the fifth consecutive year that ericsson has sponsored the competition.
The winning team from University of north Carolina. From left: Todd valentine, BU Case Competition Committee Chair; Maciej dudek, Rohan vaidyanathan, Christophe Renaud, and Jae Lee, the winning students; dean Ken Freeman; and Helena norrman, senior vice president and head of communications, ericsson.
BU hEaLth SECtOR MBaS win Mit SLOan CaSE COMPEtitiOn
The team representing Boston University’s Health Sector Management MBA Program won it all on February 24 at the MIT Sloan 2012 Healthcare Case Competition. The theme was digital Marketing for Healthcare. Michael Barrett, Timothy Chanoux, Anshuman Mirani, and Matthew Scott (all MBA’13) shared the $4,000 first-place prize. The BU MBA Health Sector students faced teams from Harvard, MIT, Babson, and Cornell. “It was really an honor to represent BU in this competition against so many good schools. It was exciting to come out on top,” said Chanoux. The case involved developing a digital media strategy for the launch of a kidney cancer drug by AveO Pharmaceuticals (the sponsoring firm). “All of the information in the case was actual market research done by AveO, and it was a real and current business problem,” Mirani added. Scott said, “We were the only group to talk about accountable care; we were the only team to come up with a name for the drug; and we were the only team to brand the research effort. Our BU preparation was instrumental in our success.”
The team representing Boston University’s Health Sector Management MBA Program. From left: Michael Barrett, Timothy Chanoux, Anshuman Mirani, and Matthew Scott won it all on February 24 at the MIT Sloan 2012 Healthcare Case Competition.
BU tEaM SECOnD in EMORy GLOBaL hEaLth CaSE COMPEtitiOn
An interdisciplinary team of BU graduate students took second place in the Global Health Case Competition at emory University on March 31. The Global Health Contest is designed to raise awareness of, and develop innovative solutions for, 21st century global health issues. The BU team of six students (three MBA/MPH students, an Md/MBA student, a medical student, and a doctoral student in biomedical engineering) bested 21 of 23 teams. The home team, emory, won. This is the first time BU competed in this event. BU also won the “Audience Choice Award” voted by their peers in the contest. The team members were Ivan Busulwa (MBA/MPH’12), Darash Desai (enG’14), Meg Meyer (MBA/MPH’12), Sunil Nair (Md/MBA’13), Catherine Shih (MBA/MPH’13), and Daniel Silva (Med’15).
BU team members at emory. From left: Ivan Busulwa, darash desai, Meg Meyer, Catherine Shih, daniel Silva, and Sunil nair.
BU StUDEntS SECOnD in aLPha kaPPa PSi’S CaSE COMPEtitiOn
BU School of Management students Kate Blaes (BSBA’13), Michael Ely (BSBA’14), and Christine Yi (BSBA’15) won second place in the fifth annual Principled Business Leadership Institute’s Case Competition in Philadelphia in February, sharing a scholarship prize of $750. Representing BU’s nu Chapter of co-educational business fraternity Alpha Kappa Psi, chapter president Blaes and brothers ely and yi completed a market analysis and forecasted financials on a Harvard Business School case. Teams from the University of Pennsylvania’s epsilon Rho Chapter placed first and third out of 13 teams. bu.edu/management 9
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Boston sCientifiC tests smG
Boston Scientific executives and winning SMG students (all BSBA’14), from left: Jeff Clare, director, IS finance; Alexandria Chong; Michael Kehrberg, principal analyst, finance; Joseph McNiff; Charlene Stoessel, director, IS sales & marketing; Eunice Han; Lee Anne Howe, vice president, IS corp services; and Maxim Skudarnov.
Boston Scientific recently came to campus for an SMG-only IT case competition. Associate Professor of Markets, Public Policy & Law Shulamit Kahn oversaw the case competition, which was open to students in the SM 222 Modeling Business Decisions classes. The winning team was Alexandria Chong, Joseph McNiff, Eunice Han, and Maxim Skudarnov (all BSBA’14). The case asked teams to plan a new market entry strategy by analyzing actual data provided by Boston Scientific about several of their medical device products and similar units made by competitors. Kahn says, “For proprietary reasons, the products were given code names—students weren’t even sure of the product category. However, the judges were amazed by how much the teams did with so little hard information about specific products.” The winning team proposed a theory about the market behavior they saw as they crunched the numbers over time. Kahn says, “Called the ‘novelty theory,’ the team said the data suggested the best time to enter a market is when the product of a competitor has acquired some beginning growth but has not yet been established. By entering then, a company can stop the competitor’s momentum and grab market share.”
smG finanCe UnderGrads Beat Boston area mBas aGain
From left: Amit Singh, Elaine Lin, Luiza Santos, Eldar Karymsakov, and Research Professor Scott Stewart.
Congratulations to Boston University School of Management students Amit Singh, Elaine Lin, Eldar Karymsakov, and Luiza Santos (all BSBA’12) for winning the Boston Investment Research Challenge (BIRC) on February 15. This is the fourth year in a row that BU has made the final round in BIRC and the second time that BU students have won. The Boston Security Analyst Society and the CFA Institute sponsor the event. As the Boston round winners, the BU team advanced to the Regional Research Challenge in New York City on April 10 where they competed against teams from North and South America. The BU team finished in the top 16 overall, after being eliminated by the Illinois Institute of Technology, the overall regional winner.
KontroltV wins iteC’s 12th annUal $50K Competition
From left: Senior Lecturer Pete Russo, director of entrepreneurship programs; Beth Goldstein, director of the $50K New Venture Competition; and KontrolTV winners Juan Pablo Gnecco with son Daniel Gnecco. Photo via BU ITEC.
Here’s a first—a father-son team captured the 2012 $50K New Venture Competition on April 5, hosted by the Institute for Technology Entrepreneurship & Commercialization (ITEC). Congratulations to Daniel Gnecco (BSBA’12), his father, Juan Pablo Gnecco, and Alan Queen, an engineer from Gnecco’s hometown of Atlanta, whose company, KontrolTV, won the 12th annual event. KontrolTV’s plan is to design an application that will make it possible to use a mobile phone like a television remote control, allowing the user to find and launch TV listings. The application will also enable users to see what friends are watching on TV in real time. In addition to winning BU’s competition, Gnecco has landed $500,000 in seed money from Dallas Mavericks owner Mark Cuban. KontrolTV was also selected as the winner of the TeleEMG People’s Choice Award, representing the company the audience believed to be most likely to succeed. Landing second place in the $50K event was BU alum Michael Adelizzi (ENG’02) for Stabiliz Orthopaedics. Third place was won by City Fuel Company, headed by Diego Torres-Palma (MBA’13) and MIT graduate Matthew Pearlson.
BU taKes 2nd & 3rd at apiCs Case Competition
From left: Matt Fox, Ravi Kolipaka, Jane Bulnes-Fowles, and Tim Moran.
The Association for Operations Management sponsors the annual Advancing Productivity, Innovation, and Competitive Success (APICS) Northeast District Student Case Competition, in which BU took top honors in 2011. The winning team in the April 2012 nine-team graduate division was from the University of Connecticut. The BU team of Jane Bulnes-Fowles, Matt Fox, Ravi Kolipaka, and Tim Moran (all MBA’12) placed second. BU’s Stephanie Bloch (MBA’12), Derek Evenson (MS•MBA’12), and Eli Mather (MS•MBA’12) placed third.
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StUDEnt PROFiLE
A Helping Hand and Mind Andrei Razov (BSBA’12) extremely valuable to high school students who will need and use these skills throughout their professional lives. o help his younger brother, Alex, succeed in school, 22-year-old Andrei Razov (BSBA’12)—from newton, Upon graduating from BU this spring, Razov joined MA—made the decision to attend college locally. the Boston office of Accenture, the global management Almost twice his brother’s age, Razov felt it was a priority to consulting, technology services, and outsourcing company. stay nearby and assist him with schoolwork should nobody “I want to get my hands dirty with whatever company else be around to do so. I’m helping,” he said. “I don’t want to get to a point where “due to the age gap, I’ve played a parental role in [my I’m just rehashing the same solution or looking at the same brother’s] upbringing,” he said. “It’s made me understand issue over and over. I want to be constantly learning new how I can relate to someone younger in a learning ways to solve problems.” environment.” With a dual concentration in finance and organizational Razov was born in Russia and spent his childhood behavior and a minor in economics, Razov took a wide range in Israel, Canada, and Brooklyn, ny, before moving to of classes to make sure he was well-rounded as he prepared Massachusetts. Throughout high for graduation, and in doing so, found school, he tutored children at a “Businesses are the prime that most of them tended to have an private Jewish elementary school underlying connection. driver of environmental in Brighton, MA. This experience, “I took a finance course problems, but they can also that was strictly numbers and an coupled with his nightly routine of assisting his brother through be the biggest proponents organizational behavior course that the rigors of difficult homework looked at how a company should of solving the problems.” assignments, brought out an interest operate from a higher level, and they to help others with their studies. complemented each other,” he said. With tutoring in his background, Razov knew he wanted One course in particular that he found extremely to keep it up after being accepted into the BU Management interesting was environmental Sustainability. It provided him Honors Program. during his sophomore year, he was invited a broader perspective on how large corporations have to to apply for a leadership position in SMG’s oldest service equip themselves with the right resources to foster market organization, the LOCK Honorary Service Society. He joined sustainability as a competitive advantage rather than a the executive board and was able to gain perspective on threat to profitability. how they operate on a large scale and make decisions. Two “Businesses are the prime driver of environmental years later, Razov was elected president. With roughly 90 problems, but they can also be the biggest proponents of members, LOCK’s mission is to help undergraduate students solving the problems,” Razov said. who are having difficulty with any SMG required courses. The extent of information he’s absorbed in the last few The members tutor fellow students at least two hours in twoyears will only help as he plans to continue the role of a tutor week intervals with both scheduled and open sessions. in the future. It’s a responsibility he enjoys and one that he After becoming president, Razov decided this wasn’t hopes will never end. enough. He began the process of expanding the group’s reach “What I enjoy in the tutoring sessions is actually into local high schools, and instead of helping the students helping someone learn a concept or prepare for an exam,” with introductory college-level courses, he proposed that he said. “But I don’t give people answers. I help them get LOCK members hold seminars on essential issues, such as there on their own. I’m just guiding and directing, pushing résumé building, networking, and interviewing, that will be them along.”
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International Ambitions Selena Su (BSBA’14)
“I really like the diversity in courses because I am also pursuing a minor in Chinese to keep in touch with my heritage. That’s why I chose BU.”
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By LAURen dezenSKI WITH MICHAeL PInA
ook into her eyes and you see drive, persistence, and definite ambition. Selena Su (BSBA’14) was born in Guangzhou, China, and moved to Manchester, nH with her family when she was ten. In Manchester, she was instantly several years behind her fifth grade classmates in english skills. But clearly that didn’t hold her back at all. now, at the School of Management, Su is loading up on coursework. She already holds a dual concentration in international management and accounting, but after she gets her feet wet with her first finance class in the fall, Su has contemplated adding it as a third concentration. This rising junior doesn’t sit still. This past fall, she presented the idea for an honors-specific project to Boston University’s popular community service program Alternative Spring Breaks (ASB), where students participate in community service projects in various locations around the US (instead of heading to the beach). Su said her idea led to a leadership role to organize the project. “Having an alternative option for honors students to give back is important, especially during their spring break,” she said. “In addition, most of us have similar interests and similar future goals, and the ASB allows everyone who participates to create a close bond that they normally wouldn’t have the time or opportunity to create.” Su contacted a handful of organizations in the dC area, and ended up recruiting a group of ten honors students to work the week at multiple sites. Creating
the “customized” spring break also fed one of her other desires: wanting a diversity of experiences. “The great thing about BU is that you can have almost any interest and still pursue a business degree,” Su said. “you can earn a major/minor, study abroad, or take the electives that meet your interests. I feel like I’m taking advantage of the resources here. I’ve also joined clubs and been able to meet different people to add to my experience. “I also really like the diversity in courses that I can take,” she said. “I’m able to take courses in Chinese while also being in SMG. That’s why I chose BU.” Her busy schedule has prevented Su from staying as connected with her Chinese roots as she would like, but with a minor in Chinese in the College of Arts & Sciences, and plans to study abroad in Shanghai next spring, she’s doing all she can to remain connected to her heritage. Su has a summer internship working for Boston University’s Student Alumni Association, where she’ll help bring alumni back on campus to network and, hopefully, become mentors to current students. She will also help organize freshmen orientation and both casual and formal networking events. After graduation, Su hopes to work for an international or cross-cultural company. However, her ultimate goal is to travel back to her native country and work as a consultant.
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Redesigning a Design Career Phil Duffy (IMBA’12)
“eventually I hope to get back to an entrepreneurial situation, should the opportunity come,” duffy said. “But to start, I want to go back to design and look at it from a marketing point of view. SMG has really helped me build up the marketing side and understand how a product can be a revenuegenerating concept before it goes into development.” The decision to return to school at the age of 41 was an easy one for duffy. He knew he needed a challenge, and the intensity that comes with earning an MBA in a single calendar By MICHAeL PInA year has provided more than enough fter graduating from england’s Teesside University in the mid-1990s, intellectual stimulation. Phil Duffy (IMBA’12) figured he had two paths he could pursue with his duffy plans to reenter the undergraduate degree in industrial design. consumer product industry armed with “With industrial design, half the school wanted to go and design cars, and the his MBA. One of the most important other half wanted to design things for the film industry,” he said. “I was the guy who classes he took was Consumer wanted to design ships and rockets for movies, but in the UK the film industry is Behavior, a course that studies almost nonexistent.” consumers and their purchasing Knowing that getting into the entertainment industry can be next to patterns. As a designer, that impossible, duffy decided that as long as he was able to stretch his imagination and information is essential for duffy. come up with new, fresh ideas on a regular basis, he’d be happy. “A lot of the time marketers Instead of heading to work right away, duffy moved to China to learn as much will evaluate products and make about the country’s culture as he could. He originally intended to spend about a decisions based on the numbers and year, but stayed much longer. the marketplace, but they’re not really “I worked three years for several no-name consumer goods companies as a looking forward,” he said. “When you design manager, but then I landed a position at WowWee.” duffy stayed ten years at have an 18-month timeline to come WowWee, a Hong Kong-based toy manufacturer, running product development for out with your product, you need the company before deciding to start one of his own. to be forward thinking, and “I want to go He named it Blue Monkey Toys. duffy ran Blue Monkey for an understanding of design three years as a company that did a little consulting but also back to design thinking allows you to do that.” produced its own products. and look at it “We made toys that would actually become creatures,” he from a marketing said. “They could walk around the house, visualize where they were going, and avoid walls and stairs. They had personality.” point of view.” view.” despite having virtually no business education in his background, duffy figured that his prior ten years working at WowWee would see him through the difficulties that come with starting your own enterprise. But after three years, Blue Monkey Toys was forced to close. “I made classic, big mistakes,” he said. “I didn’t have anybody working for me in finance or marketing. I had to play those roles and I didn’t know how.” Feeling like he needed to reaffirm connections with the toy industry’s US market, duffy decided to enroll in Boston University’s one-year International MBA Program, where students study for three months in China followed by nine more in Boston. He chose marketing as his concentration.
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GRaDUatiOn
Commencement 2012 Onward and Upward Cheering siblings and spouses, proud parents, and beaming faculty and staff celebrated the graduating seniors, master’s, and doctoral students on Friday, May 18, at Agganis Arena at the School of Management Commencement ceremonies. 634 students participated in the afternoon undergraduate ceremony. At the evening graduate ceremony, MBAs, MSIMs, Master’s of Mathematical Finance, and doctoral students received their diplomas.
James Post, the John F. Smith, Jr. Professor in Management, gave the commencement faculty address at the undergraduate ceremony.
Michael J. Lyons (BSBA’81), senior managing director, Lincolnshire Management, Inc., was the guest speaker at the graduate ceremony. Allen Questrom Professor and dean Ken Freeman presented the 2012 Broderick Prize for excellence in Teaching to Associate Professor Jack McCarthy (dBA’02).
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The graduate student speaker was Erin Gregory (MBA’12).
Adam Skierkiewicz-Chovan (BSBA’12) was the student speaker at the undergraduate ceremony.
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The School of Management begins its second century in September 2013. The Class of 2017 will be the first to experience undergraduate curricular innovations that will prepare them for the challenges of an everchanging world.
transforming the undergraduate experience
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By JOHn dICOCCO WITH STeven dAvIdSOn
he enhanced undergraduate experience received overwhelming faculty support in February. Several faculty design teams are working throughout the coming year to prepare the new coursework. “The aim of the enhanced curriculum,” says Allen Questrom Professor and Dean Ken Freeman, “is to graduate leaders who will create value for the world. Our guiding objective is to prepare our students with the professional and personal skills needed to become highperforming, strategic thinkers in their first jobs and throughout their careers. They will have deep knowledge in their chosen area(s) of specialization and a strong awareness of the forces and critical issues shaping the global society.” Overall, the new design provides more flexibility, increased emphasis on analytics, more career-building skills, and innovative teaching methods. The new program continues to allow dual concentrations and dual majors with programs in other Boston University schools and colleges, and study abroad. More Flexibility & Individualized Learning The new undergraduate experience offers increased customization and the opportunity to pursue deeper sequential coursework, enabling students to engage in the management disciplines more thoroughly and explore the forces transforming our global economy. Students will be able to take the CrossFunctional Core (SM 323, the “Core”) during the second semester of their sophomore year or the first semester of their junior year, tailor the sequencing of management electives to meet their specific needs, and pair liberal arts electives with management courses. Each student will have the opportunity for exploration consistent with his or her interests through additional management electives or classes outside the School of Management. Integration of Professional Skills, Writing, and Analytics The new curriculum offers an integrated career sequence of courses, called “proseminars,” each year. These will focus on developing professional skills from résumé writing to interviewing, demonstrating how curricular content is used in industry, positioning students to obtain summer internships and full-time employment, and building essential career management skills.
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Arpit Jain (BSBA’13) and elisse Thurston (BSBA’12)
As in the past, students will benefit from early exposure to the various management functions from accounting to marketing. But in addition, they’ll gain a general understanding of the three sectors that are transforming the global economy: digital technology, energy and environmental sustainability, and health and life sciences. They will create personalized learning paths in the curriculum, review study-abroad options, and build recruiting and mentoring networks. They will apply their learning outside the classroom, meet organization leaders and alumni, and hone their skills for searching for and performing in internships. The proseminars will include participation in activities at the Feld Career Center, integrate Undergraduate Program Office advising, and foster mentor relationships with alumni. The new curriculum makes lucid writing a critical requirement each year. Through assignments designed to reinforce key skills in the management disciplines, students will develop essential business writing competency.
The business world also requires that students have ever-increasing analytical capabilities. A newly broadened three-course analytic sequence will help develop students’ quantitative analysis skills and focus. Delivering the Curriculum The revised undergraduate curriculum is primarily delivered in three phases. First, the cohesive Pre-Core Curriculum emphasizes an exposure to humanities, liberal arts, social issues, and traditional management disciplines; provides global and ethical frameworks for understanding key business issues; introduces students to the forces shaping our global economy; and provides essential professionalization, skillsbuilding, and student socialization components. The PreCore will be grounded by a new management foundations experience during the freshman year. bu.edu/management 17
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whERE OPPORtUnity awaitS: thREE vitaL SECtORS The new curricula at both the undergraduate and graduate levels of the School will include exposure to the three most vital and rapidly growing sectors of the world economy: digital technology, energy & the environment, and health. each student at SMG will take part in case studies, projects, and discussions about each of the three sectors. Those who want to immerse themselves further will have ample elective choices to do so. DiGitaL tEChnOLOGy david J. McGrath, Jr. Professor in Management N. Venkatraman is leading the development of the digital Technology sector. “The digital technologies are going to have a more profound impact on the economy than ever before, worldwide. From what we’ve learned in the MS•MBA program we will infuse more of the digital sector in the curriculum. “With a digital sector focus, faculty in all departments will be looking at what digital technology can do in their function, their subjects, and their areas of research. Finance, marketing, operations—they all require a digital strategy and digital innovation…where digital technology becomes the new source of competitive advantage. “The digital sector has a phenomenal opportunity to create value at multiple levels.”
“The foundational experience will help students understand the role of business in society.”—BarBara Bickart, associate Professor Barbara Bickart, associate professor of marketing and Dean’s Research Fellow, and Kabrina Chang (CAS’92), assistant professor of markets, public policy & law, are leading the design of the foundational experience. Bickart explains, “We’re particularly excited about the three-course sequence for all first-year SMG students. The foundational experience will help students understand the role of business in society, develop a framework for ethical decision making, and provide an introduction to the functional areas as well as the major issues and career opportunities within key sectors. In addition, students will complete the sequence in cohorts, thus building community and establishing long-term relationships.” In the second phase, the Cross-Disciplinary Core applies Pre-Core learnings to understand how management disciplines are interrelated and why business problems have multiple management aspects, and it shows where management concepts have real-world applicability. As in the past, the essential task of the Core is for a student team to conceive of a new product or service, develop a full business plan for it, and prepare a presentation to prospective investors. The Core has been altered with the addition of an analytics course and movement of the information systems course to the Pre-Core. Jonathan Hibbard (BSBA’82), assistant professor of marketing and a design lead for the enhanced Core, shares this about the change in the Core’s four-course mix: “The Undergraduate Task Force felt it was important to provide students an earlier exposure to information systems so they could better understand how digital technologies will impact firms and industries in the digital economy.” Third, a flexible Post-Core experience provides exposure to advanced management concepts, including a focus on strategy and purpose of the firm, business law, macroeconomics, complementary non-management and liberal arts electives, and a deeper exposure to management concentrations and the sectors.
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“We felt it was important to provide students an earlier exposure to information systems.”—Jonathan hibbard, assistant Professor These three phases combine with important non-course activities to create the enhanced undergraduate experience. The Foundational Sequence Recruiters indicate the School has long had a strong undergraduate curriculum. Now it’s further evolving to reflect the new forces transforming business and the global economy. The freshman foundation introductory course Business, Ethics, and Society provides an introduction to markets and firms, the role of business in society, and an integrated perspective of business functions and ethical conduct. Chang says, “The foundational class will expose students to philosophical-, business-, and market-based approaches to ethical thinking. By discussing the various approaches, we expect that students will learn to make more informed decisions. We’ll also infuse a number of the stalwarts of business theories into the dialogue such as profitability in light of responsibility to others, game theory, and the identification and role of various stakeholders. The idea is to give freshmen frameworks for doing their own analysis and coming to ethical conclusions. These frameworks will be continually reapplied throughout their four years at SMG.” The new curriculum introduces finance concepts earlier. All students will learn fundamental concepts of finance for valuation, and an introduction to risk management in Financial Markets & Foundations. Faculty will explain the relevance of these ideas to the areas of personal finance, corporate finance, and investments in a single unifying conceptual framework that emphasizes the role of financial institutions. Rui Albuquerque, associate professor of finance and Dean’s Research Fellow, is enthusiastic about the integration of finance content and the linkage between freshman year and Core. He says, “The redesign of the Core curriculum
EnERGy & thE EnviROnMEnt Professor of Finance Nalin Kulatilaka, the Wing Tat Lee Professor of Management, is leading the development of the energy and environment sector. “What makes the University special is that we have colleagues doing research and talking to each other on related topics across multiple schools within BU. There are engineering faculty and students working on energy technologies; environmental scientists, natural scientists, and public health people who are looking at specific effects on the ecosystems; and management faculty looking at how we can bring new technologies to market and have them adopted by people and institutions. “Energy is the key driver of economic growth everywhere. As the population grows and countries become more industrialized, we tend to need more and more energy. Thus, the key challenge is finding new energy that’s not environmentally harmful. “We have seen a tremendous amount of capital flowing into the alternative energy sector. As a result of that, it is one of the most important growth and employment opportunities in the economy now and for years to come.”
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hEaLth SECtOR executive-in-Residence and Lecturer Mark Allan, faculty director of the Health Sector Management Program at the School, is deeply involved in the development of the Health sector curriculum. “The health sector is a natural area of focus for the School of Management. The University is unusual in having the complete array of academic research capabilities within this field, including a leading business school and medical school, one of the top biomedical engineering programs in the country, an excellent school of public health, and one of the best health law programs in the nation. “Also, we’re based in Boston, the national ‘capital’ of the health sector. We have top academic medical schools, biomedical engineering programs, and pharmaceutical research centers that have international import. Some of the top biotech companies in the country are here. We have health information technology initiatives that have become models for other areas. And finally, in public policy, Massachusetts is the only state in the country that has solved the problem of covering all people. Bring that all together, and the environment is absolutely unique as a context within which to educate students. “The health sector in the United States is ripe for innovation. Our country faces real challenges in terms of resources and wealth, which is going to force us to come to grips with creating value in the sector, meaning producing more and better, without just adding on cost.”
“The idea is to give freshmen frameworks for doing their own analysis and coming to ethical conclusions.”—Kabrina Chang, assistant Professor with new courses and a new timeline will allow students greater flexibility in setting their learning goals. SMG will be better equipped to meet the needs of those students who, early in their studies, have a clear, well-defined view of their desired career path.” Students will conclude the foundational experience with Sectors: Forces Shaping the Global Economy to expose them to the key sectors (as mentioned above) transforming the global economy and the major issues, career opportunities, and disciplinary linkages within each of them. Enhanced Student Learning Faculty leading each course redesign will consider new ways of delivering content that promotes a more engaged classroom experience. Jeffrey Furman, associate professor of strategy & innovation, explains, “By using new delivery methods such as targeted podcasts, we have the opportunity to devote class time to a deeper level of discussion and can also use these methods to expose our undergraduates to the content expertise of senior SMG faculty.” Students will also learn about the emerging research of SMG faculty, current topics within the sectors, and emerging business forces through new one- and two-credit elective courses. This fall, the School will pilot innovations across the curriculum, and faculty will closely monitor the student experience. “Boston University School of Management has pioneered many areas of management curricula during its first hundred years. As we approach the beginning of our second century, we intend to prepare leaders who will create transformative value for the world,” says Freeman.
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FEatURE Colin Fisher, assistant professor of organizational behavior, uses the smart board in the new digital Learning Studio.
STUDIO
DIGITAL
A new million-dollar teaching space is altering the way students at the School will learn from now on.
By JUdy RAKOWSKy
On a recent morning in the new digital Learning Studio (dLS), graduate students and tech supporters were clicking mice and dragging files onto big LCd screens when they got a blast from the pedagogical past. As they peered at 42-inch screens on their “team walls,” another frame popped up on their screens. In it was a lecturing professor pointing to numbers on an overhead projector. Strategy and Innovation Professor N. Venkatraman quickly realized this was a live feed from a traditional classroom. “That’s exactly what we’re trying to retire,” said venkatraman, david J. McGrath, Jr. Professor in Management, “four hundred students in a dark room listening to a lecture.” The digital Learning Studio, which went online in January, has put the School of Management and BU at the forefront of the high-tech learning revolution with an array of hardware and software configured to stimulate collaboration and engage learners. Room 326 is “where management education is heading,” said Allen Questrom Professor and dean Ken Freeman. “Less lecturing, more doing.” After 70 years of business school education in the traditional amphitheater-style classroom, “it’s time for a change,” Freeman said. “digital technology enables us to move from using historical case studies developed over a period of months or even several years to real-time experiences, engaging CeOs and other leaders in companies from around the world on current issues, in the classroom, and enabling our students to address today’s problems in small groups.” the next generatIon In operatIon According to venkatraman (who has spearheaded the creation of the dLS), a number of factors, including the accelerated move by for-profit universities toward web-based learning, affect business management schooling. He said, “We must innovate not by delivering the same model of online education but by blending individual learning through rich-media lectures and interactions in classrooms through debates, dialogues, and conversations with industry executives that deepen and broaden the education and development of insights. “Freshmen and first-year MBAs will still learn the fundamentals, of course,” venkatraman assures. “More advanced undergraduate courses and many graduate classes, particularly in digital technology, will take advantage of the capabilities of the digital Learning Studio. We’re bringing current, relevant cases and executives right into the class.” Just two days before the overhead-projector feed interrupted his class, venkatraman presided over a starkly different learning experience in a graduate class in which he hosted videoconference “visits” with a cloud computing expert in Massachusetts and a digital innovation expert in the Midwest. The students were divided into teams representing the interests of Microsoft and Google to tackle a real-life problem. They then received feedback from the industry executives who wanted to test the problem on people who were not already steeped in the Google and Microsoft cultures. bu.edu/management 21
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“LESS LECTURING, MORE D “Students have the unique opportunity to create something together and solve a problem for a company in real time,” said venkatraman. Eric Whitney (MS•MBA’12) said the class that was televisited by the executives was more intense than a typical visiting lecture class. “you’re getting the perspective that’s happening right now,” he said, “rather than working on a case that might be two years old or more.” And the executives were pleased with the students’ insights. Erica Hansen (MS•MBA’12) said, “They were interested in how someone outside the industry looks at the opportunities, and we validated input they were getting.” The bonus of the learning studio is that executives from elsewhere in the country or around the globe can take an hour or less out of their schedule to drop by the class virtually rather than take a minimum of a half day to attend in person. easIer access for execUtIves An executive from ericsson, the Swedish communications company that sponsors the International Tech Strategy Business Case Competition at SMG, was on hand when Whitney and Hansen were running the software through its paces. He marveled at what he saw. ericsson’s Steve newman said, “This is the beginning of something really important.” The dLS has rolled out with excitement and no small amount of consternation. The contractors turned the classroom over to SMG on January 13, 2012, and just four days later the first class was held at 8 a.m. The classroom was built from bare walls to a $1 million technological marvel over the winter break. Its early success, by many accounts, is due to a tremendous amount of teamwork and flexibility among the faculty, information technology staff, and student employees.
“What makes the dLS an innovation leader is not a single technology or feature but the configuration and combination of software, facilities, and design,” said Greg DeFronzo, SMG’s information technology services director. The SMG team looked at what was being done at other management schools including the Wharton School at the University of Pennsylvania, the Fuqua School of Business at duke, and the Sloan School of Management at MIT, adapting features that are promising now and also will grow as technology changes, deFronzo explained. See how the tech team did it at bit.ly/smg-dls. Let the experIments BegIn Some classes try out different applications including Prezi (cloud-based storytelling software), said Margaret Costello (BSBA’12), who has been doing tech support in the dLS. The technology is just one piece of the equation. The other side is what to do with it. “It’s a different mode of teaching,” said Finance Lecturer Keith Osher, who says he’s not all that tech-savvy but has overhauled his Modeling Business decisions and Market Outcomes class to take advantage of the room. “The classroom is great for collaborative learning. It’s learning much more by doing than by listening to someone in the front of the room,” Osher said. In contrast to most statistics classes, students in Osher’s class work to solve excel problems by collaborating
“wE’RE bRINGING CURRENT, REvELANT CASES AND ExECUTIvES RIGhT INTO ThE CLASS.”
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Senior Lecturer of Marketing Deborah Utter discusses website design with students.
on which formulas they need and what the data means, according to a class blog. For instance, students in recent classes have taken data from Boston Scientific and created histograms and regression tables with one another. “Mr. Osher has grasped a great way to have students be more interactive in the class,” said Sean Flaherty (CAS’13), an ITS student employee doing faculty support. It is not easy to adjust to a classroom where there is no lectern and students are facing in opposite directions around long tables. That’s where Jeanne Myers, an educational technologist working on her Phd in education, came in. She helped faculty members assigned to teach in Room 326 adapt their lessons to exploit the potential of the studio.
“IT’S A whOLE DIffERENT MODE Of TEAChING.” in the room. I can really see how it can increase the value of all my classes.” Faculty members have been gung ho about reworking lectures, but even the classroom design and implementation team has been surprised by what the learning studio has to offer. And now professors who were alone in a room with the students are having all sorts of company with IT staffers and students on hand.
E DOING.”— KEN FREEMAN AllEN QuEstRoM PRoFEssoR ANd dEAN
teachIng the InnovatIng on the fLy facULty too Steve X. Chen (BSBA’12) was Myers hosted faculty group involved in the classroom early on meetings to share best practices and recently completed a course in as well as glitches and lessons the room as well. “I’ve been involved learned. She shared an extensive in the design, implementation, list of ways to adapt traditional training, and troubleshooting—the learning approaches to the latter is the longest phase of all,” he innovation studio, including said with a grin. At the end of each problem-based or project learning class, Chen or one of his studentand tournament learning (a employee brethren save the lecture competition of ideas). There are and all the high-tech components several ways to divide a project into a digital document that is among several groups of students available to the whole class for to solve a piece of it and then send downloading. An MBA class uses the technology to review team a “teacher” from their team to share even as the rollout continues, performance on a “construction” project. the team’s findings as the rest of student employees Chen, Kenny Sun the class views their slide on the main screen at the front of (BSBA’12), and Jamison Kissh (BSBA’13) are brainstorming the room. “This generation is so visually driven,” Myers said, about what’s next. One night, they contacted deFronzo with “that the students catch on quickly and adapt to new ways an idea: Using Wii technology, they could create a virtual of learning with technology. smart board on any wall, no board required. deFronzo “The room design allows for students to see multiple greenlighted the trio to go pick up the components at Best versions or multiple parts of a larger whole,” Myers Buy to test out their idea. explained. The approach is designed to help students “By 8:30 p.m. they had a prototype to set up in rooms connect the segments. “The real bang for your buck is in the with no LCd screens (such as teamrooms), to capture notes preparation phase. What can you do prior to class in order written on a traditional chalkboard,” deFronzo said. to use the time in the lab wisely?” Where will the learning studio go from here? Associate Professor of Strategy & Innovation Jeffrey In the short term, venkatraman said, “I see it beginning Furman, whose undergraduate honors class meets in the in the digital technology sector curriculum and adapting room, said he’s excited about its potential. over time for the health and energy sectors. The philosophy “Instead of operating as the conductor of an orchestra is that the classroom becomes a welcoming place for you have to be more of a juggler and the manager of a debate and dialogue that builds off material that the three-ring circus.” He knows he has to work to exploit its students have mastered through readings, videos, and other potential as a complement to the old-fashioned setup. “I interactive materials.” have to go back to the drawing board to learn how to teach bu.edu/management 23
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faCUltY researCh
Immigration Revelations Low-skilled In-home Labor Helps High-skilled Women BY TRACY SLATER
M
below the median. . . . Focusing on women working in uch of the controversy about immigration in the occupations where men work long hours, we find large United States stems from the fear that incoming positive and statistically significant effects of low-skilled foreigners deprive natives of access to jobs. But a immigration in the probability that women will also work recent study by Patricia Cortés and coauthor José Tessada long hours.” suggests a different, long-ignored result of immigration: Among their specific findings are data suggesting that that the arrival of low-skilled laborers in this country the low-skilled immigration wave of the period 1980–2000: provides the conditions for high-skilled women to succeed • Reduced by close to seven minutes a week the average in their careers. time women at the top of the wage distribution spent on Cortés, an assistant professor in the markets, public household chores; policy & law department, and Tessada, faculty member • Increased by 20 minutes a week the average time at Pontificia Universidad Católica de Chile, revealed their women at the top of the wage distribution devoted to market findings in their paper “Low-Skilled Immigration and the work (work outside the home, such as in an office); and Labor Supply of Highly Skilled Women,” in the July 2011 • Increased the probability that women employed in American Economic Journal: Applied Economics. occupations demanding long hours would work more than 50 Using census data and tracking the immigration to 60 hours a week. wave of the 1980s and 1990s, the authors find a This last result is especially striking correspondence between important, since many women in the availability of low-cost, flexible Highly skilled women this group—lawyers, physicians, and housekeeping and child care services are now better able to women with PhDs—work in fields provided by newcomers, and an compete in the workplace where success depends upon working increase in the number of hours long hours. worked by women in high-salary because of more “Low-skilled immigration into the jobs, particularly those traditionally affordable, low-skilled United States can generate effects dominated by men. However, though domestic help. on the labor supply of natives that the availability of support for homego beyond the standard analysis related responsibilities correlates to an of the impact immigrants have on natives increase in labor hours for highly educated women of similar skill,” argue Cortés and Tessada. in the top income bracket, it has no “By lowering the prices of services that are impact on the likelihood of these close substitutes of home production,” they women gaining employment conclude, “low-skilled immigrants might to begin with, suggesting that increase the labor supply of highly skilled low-skilled immigration might native women.” increase job success for highRead more at bit.ly/smg-cortes. skilled women who already have careers but doesn’t necessarily propel them into the workplace. Explain Cortés and Tessada, “We find a large positive and statistically significant effect of low-skilled immigration on the hours worked per week by working women at the top quartile of the female wage distribution. Much smaller, but still statistically significant, Assistant Professor of Markets, Public Policy & Law effects are found for women Patricia Cortés above the median, and no effects are found for women with wages
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faculty research
Search Frictions Hamper Health Insurance Rebitzer Receives 2012 Best Paper Award in Health Economics By tracy slater
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ames Rebitzer’s “Unhealthy Insurance Markets: search Frictions and the cost and Quality of Health Insurance” has received the 2012 Ken arrow award for best paper in health economics from the International Health economics association (iHea). Professor of economics and Public Policy, everett W. lord Distinguished Faculty scholar, and chair, Markets, Public Policy & law Department rebitzer coauthored the winning study, which appeared in the august 2011 American Economic Review, with Professors randall cebul and Mark Votruba (both of case Western reserve University) and lowell taylor (carnegie Mellon University). In praising the article’s import, iHea executive Director tom Getzen notes, “the paper [is] a clear and compelling presentation of important empirical results with implications for current policy . . . very important and very current.” “Unhealthy Insurance Markets” is the first study to estimate the magnitude of search frictions—inefficiencies and heightened administrative costs that stem from employers’ difficulties choosing wisely or easily among the insurance market’s complex and profuse products. the paper analyzes the effects of search frictions on the functioning of health insurance markets, with a focus on the fully insured market. larger employers can avoid many of the costs associated with search frictions, since they can afford to “self insure,” or hire insurers to administer their plans for them, the authors note. But “smaller and less sophisticated firms generally do not self insure. Instead, they purchase products that provide both administrative services and insurance.” “Fully insured” firms comprise approximately half the entire Us insurance market. rebitzer et al. show that “frictions increase insurance premiums (enough to transfer 13.2 percent of consumer surplus from fully insured employer groups to insurers— approximately $34.4 billion in 1997) and increase insurance turnover (by 64 percent for the average policy),” thereby reducing incentives on the part of insurers to invest in the future health of their policy holders. they also explore the publicly financed insurance option, finding that it can improve the efficiency of private insurance markets by reducing search-frictioninduced distortions in pricing and marketing efforts. “these improvements,” the researchers argue, stem from the fact that a moderately priced public option can displace the relatively small number of insurance policies located on the far right tail of the distribution of premiums. Eliminating this tail has a ripple effect that reduces prices throughout the rest of the market, scales back the incentives that lead to excessive marketing costs, and reduces policy turnover. . . . Our analysis of frictions further suggests that an effective public option would be a simple, well-marketed, and subsidized backstop policy that employers can choose if they don’t find something they like better.
“Unhealthy Insurance Markets” is the first study to estimate the magnitude of search frictions— inefficiencies and heightened administrative costs that stem from employers’ difficulties choosing wisely or easily among the insurance market’s complex and profuse products.
Professor of economics and Public Policy James rebitzer
“a better understanding of the causes and consequences of search frictions is crucial,” rebitzer and his coauthors urge, “for formulating better policy and improving the efficiency of insurance markets.” bu.edu/management 25
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stUdent profile faCUltY
Faculty Accolades Three Rise to Full Professors Chalykoff Becomes sacred heart dean
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ffective September 1, 2012, three of the School of Management faculty will be promoted to full professors: Associate Professor of Information Systems Chris Dellarocas, Associate Professor of Marketing and Dean’s Research Fellow Susan Fournier, and Associate Professor of Operations & Technology Management Erol Peköz.
new faculty leadership announced In May, the University Provost’s office announced the approval of several other new appointments at SMG. Associate Professor and Dean’s Research Fellow Barbara Bickart will be the next chair of marketing, effective January 1, 2013. Professor Chris Dellarocas became chair of information systems, effective July 1, 2012. Five professors will take on new faculty director roles. Associate Professor of Marketing and Dean’s Research Fellow Susan Fournier will be faculty director of the MBA Program in July 2013, including PEMBA. During 2012-13, Fournier will collaborate with Morton H. and Charlotte Friedman Professor in Management Tim Hall, current faculty director of the MBA Program, during a period of transition. Associate Professor of Strategy & Innovation Jeff Furman will be faculty director of the Undergraduate Program. Senior Lecturer of Markets, Public Policy & Law David Randall will be faculty director of the SMG Undergraduate Honors Program. Executive-in-Residence, Senior Lecturer, and Faculty Director, Entrepreneurship Programs for the Institute for Technology Entrepreneurship & Commercialization Peter Russo is the new faculty director of the EMBA Program. David J. McGrath, Jr. Professor in Management N. Venkatraman will be faculty director of the MS•MBA Program. Appointed to key curriculum leadership positions within the Undergraduate Program: Associate Professor of Operations & Technology Management J. Robb Dixon will be faculty lead of the Undergraduate Foundational Experience, and Assistant Professor of Marketing Jonathan Hibbard will be faculty lead of the Interdisciplinary Core.
Associate Dean of Academic Programs John Chalykoff, a title he held since 2001, has accepted the position of dean at John F. Welch College of Business at Sacred Heart University in Fairfield, CT. Chalykoff was a visiting professor at SMG in 199798, after serving as dean of business at University of New Brunswick, and joined the information systems faculty in 1999. During his BU tenure, Chalykoff at various times oversaw the Feld Career Center, the Graduate Admissions Office, the academic program offices, SMG Marketing Communications, and served as faculty director of the MS•MBA Program. Chalykoff created the International Tech Strategy Business Case Competition and grew it into a landmark program of the School.
additional honors
At the Spring MBA Gala, students recognized the “MBA Professors of the Year”: first-year full-time MBA Cohort A chose Assistant Professor of Finance Jay Zagorsky; Cohort B honored Morton H. and Charlotte Friedman Professor in Management Tim Hall of organizational behavior; Cohort C voted for Professor of Markets, Public Policy & Law and Everett W. Lord Distinguished Faculty Scholar David Weil; and Cohort D named Associate Professor of Marketing Melvyn Menezes. 26 Builders & Leaders
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FaCULty
Faculty Research and teaching Days
Jack aber Retires
The second annual Faculty Research Day, held at the School in May, featured 22 professors giving mini-lectures on a wide range of research topics, many of which cut across disciplinary lines. The day was divided into broad themes, including organizational change, digital technology, developments in finance and accounting, behavioral approaches, and applications to firms, sectors, and industry. Faculty Research day was open to University faculty, students, and staff. Among the participants, Assistant Professor of Organizational Behavior Emily Heaphy (above) discussed “navigating the Autonomy-Interdependence Paradox.” Senior Associate dean and Professor of Organizational Behavior Karen Golden-Biddle talked about “Liminality as a Cultural Process for Cultural Change,” and Assistant Professor of Finance Yrjo Koskinen shared “Innovation, Competition, and Investment Timing.” Review the complete list of lectures and videos at management.bu.edu/faculty-research.
Professor of Finance Jack Aber has taught at the School of Management since 1972, after earning his MBA from Columbia and his DBA from Harvard. In 2011, he won the Broderick Prize for Service to the Graduate Programs. “We hate to lose Jack to retirement, but it’s much deserved,” said Professor Allen Michel. “He spent many years as department chairman, a thankless task, and always did it with the best interests of the department and faculty driving his decisions. We were particularly lucky in that we got a ‘twofer;’ along with Jack, we also got his wife, Cindy, who actively orchestrated many events at their home.” Allen Questrom Professor and Dean Ken Freeman reported a particular alumnus’s praise. “When Rajen Kilachand (MBA’74) was attending SMG it was a very different era; only three international students were in his class. Rajen told me there was one faculty member in particular who inspired and helped him—Jack Aber. He recalled Jack’s teaching, his warmth, and his willingness to help. Rajen later provided the largest gift in BU history ($25 million) to name the Honors College, in honor of his parents, in the fall of 2011.” “In retirement,” Aber said, “I intend to remain involved in BU activities, and I’m a FitRec diehard. Hopefully, we’ll be able to spend a bit more time at our place on the Rhode Island coast. I’ll also continue my work as a director on several mutual fund boards.”
Faculty Teaching Day, also held in May, featured various faculty presenting best practices for management instruction, uses of new technology, and the digital Learning Studio (see page 21). Associate Professor of Information Systems and dean’s Research Fellow Marshall Van Alstyne (right) discussed how to manage and grow a platform ecosystem like that of the Apple iPhone. The faculty plans to make this an annual event.
Conversations with ken Allen Questrom Professor and dean Ken Freeman has inaugurated the dean’s Speaker Series, featuring leaders from various fields. When time allows, dean Freeman has a conversation with the speaker before he or she goes on stage. We recommend watching the dean’s interviews and insights on various topics related to management and education. Follow the URLs below. DENNIS SWANSON, FOX TV In February, dennis Swanson, President of Station Operations at FOx Television Stations, shared highlights from his 50-year career in broadcasting: persuading the International Olympic Committee to stagger its winter and summer games and alternate them every two years, reinventing “Monday night Football,” and giving Oprah Winfrey her first daytime talk show. bit.ly/dennis-swanson GUSTAVO VALLE, DANNON YOGURT dannon CeO Gustavo valle visited the School of Management on January 30 and talked with dean Freeman about issues of multinational commerce and the challenges of marketing yogurt in the US, an “emerging” market. bit.ly/gustavo-valle ED WEISS, FENWAY SPORTS GROUP On April 24, ed Weiss, general counsel for the Fenway Sports Group, owner of the Boston Red Sox, the Liverpool Football Club, neSn, a nASCAR team, and other properties, shared stories about the operations of a global sports business and handed out several pieces of Red Sox gear and game tickets in the SMG Auditorium. bit.ly/smg-weiss
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aLUMni
Young-jae Han Alumnus Profile
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By JOHn dICOCCO
lumnus Young-jae Han (MBA’79), CeO of nOROO Holdings in Korea, recently honored Boston University with a scholarship gift to support Asian students attending the School of Management. He also serves as the current president of the Boston University Asian Alumni Committee (BUAAC). In an email exchange this spring, we sought to learn more about this successful and generous alumnus. Builders & Leaders: Can you please explain your companies and their businesses? yJ Han: We have been in paint manufacturing, industrial coatings, and synthetic resins for 67 years. It is businessto-business for industrial markets, whereas trade sales are done through dealers. The markets that we serve include architectural, automotive OeM coatings, auto refinishes, coil coatings, wood finishes, marine paint, and general industrial markets. nOROO is our major consumer brand, together with sub-brands such as Soon & Soo, representing environmentally friendly products. You are the chairman and CEO, correct? I am the chairman and CeO of nOROO Holdings Co., Ltd., which is the major shareholder of nOROO Paint & Coatings Co., Ltd. nOROO Holdings is an investment company controlling several other operating companies besides nOROO Paint & Coatings. When did you become CEO? I was appointed president & CeO of daihan Paint Co., Ltd. (former name of nOROO Paint & Coatings) in 1988, and I was elected as chairman & CeO of nOROO Group in 2000. What have been your successes and your challenges? As the local market becomes saturated, it has been our challenge, for the last several years, to expand into overseas markets. Currently we have operations in China, Malaysia, vietnam, Saudi Arabia, India, the United States, Turkey, and the Czech Republic.
EDUCatiOn & aLUMni nEtwORk What are your memories of the School of Management? What lessons from SMG have you brought to your career in business? Among the knowledge I gained and experiences I had during the two years earning my MBA degree at Boston University, the most valuable asset was that I learned the logical way of identifying the main issue in a business situation, doing analysis for alternative solutions, and
Scott Nichols, vice president for University development and alumni relations (left), receives the scholarship pledge from Young-jae Han.
recommending one solution. I was trained through many case studies to take this approach, and it has helped me make crucial decisions in running these businesses. Everyone’s business network is important. Specifically, did you find your BU contacts helpful? Can you give an example? It is always impressive to find that each and every alum I have met has love and pride for BU. I have been able to network with many alumni not only in Korea but also in many other countries over the last seven years. We share knowledge and business experiences both on a personal basis as well as at international business forums. I have established two joint businesses with BU alumni, one in Korea and one in Japan.
thE BUaaC What is the mission of the Boston University Asian Alumni Committee (BUAAC)? The main mission is to strengthen ties and networking among the alumni in Asia. Alumni get to understand different cultures better, and some can build up mutually beneficial business relationships. This further strengthens pride for BU and stimulates their support for the alumni clubs and Boston University. How have you made BUAAC so active? What inspires you and your team to create more and bigger activities than other such clubs? In november 2005, 130 Korean and Japanese alumni gathered together in Tokyo, which was the first meeting of its kind. I was not sure about the outcome until the event started that evening. To my surprise, once the event got started, everyone talked to each other as if they were old friends. It struck me that it would be great if an international event like this could be held in neighboring countries every year. For this reason, I (along with many of the BU Alumni Association of Korea members) decided to host the first BU Asian Alumni Festival in Seoul in September 2006, followed by events in Hong Kong, China, Thailand, and Taiwan. now, participants from China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Taiwan, and Thailand gather once a year for one of two alternating international events: Asian Festival one year and Business Forum the next year. The 4th Asian Festival was held in Taipei in november 2011, and the next event is the 4th Business Forum in Singapore in november 2012, cohosted by Singapore and Malaysia.
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aLUMni
BU asian alumni Committee Country Contacts India Deepinder Bedi (MS•MBA’05) buindia@decibells.com Indonesia erwandi Hendarta (MBA’93) erwandi.Hendarta@bakernet.com Japan Ken Kondo (MBA’75), Chair kondo@fujico-ltd.com Malaysia TC Tan (MBA’93), Chair teochoontan@yahoo.com Philippines Charlie Agatep (COM’53), Chair charlie.agatep@agatep.com PRC - Beijing Weiqiang Han (MBA’89), Chair hanwq@cicc.com.cn Wei Jin (MS•MBA’06) jinwei918@gmail.com PRC - Shanghai vincent Wang (GRS’02) fhwang@sse.com.cn PRC - Hong Kong Wayne Cheung (enG’99), Chair wcheung@twineintl.com Lincoln Chan (CAS’94) lincolnchan80@hotmail.com Singapore Chen Ang (MBA’87), Chair chorch.ang@gmail.com
Members of the BU Asian Alumni Committee enjoyed a tour of Taipei in november 2011.
yOUR GiFt Your scholarship gift to the University was very generous. What prompted you to make such a pledge? What are the benefits you hope to see from it? It was my belief that it was about time for me to make contributions to BU by participating in the fundraising campaign driven by President Robert Brown. His plan for a greater BU deeply impressed me. My scholarship gift was recognized at the fourth BU Asian Alumni Festival in Taipei in november 2011 with vice President Scott Nichols. I am hopeful that my participation will encourage many alumni to provide gifts for the School. What advice do you offer current students? What subjects should they pursue to balance or enhance their business skills? I like to quote industrialist and philanthropist John d. Rockefeller: ‘The road to happiness lies in two simple principles: Find what it is that interests you and that you can do well, and when you find it, put your whole soul into it—every bit of energy and ambition and natural ability you have.’ I personally have started learning about the arts in order to be more creative in running my business with a better sense of balance in my life.
South Korea young J. Han (MBA’79) Chair of the Committee yjhan@noroo.co.kr Henry Woo (CAS’99), Secretary henrywoo@gmail.com Taiwan Henry Hsu (MBA’03), Chair hch227911@yahoo.com Jean Liu (MBA’77) tasjl@hotmail.com Thailand A. Subhajati (MBA’77), Chair subhajati@yahoo.com S. Maneechit maneechit@yahoo.com
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aLUMni
Centennial Update Big plans are underway for the School of Management Centennial with events beginning September 2013. The year-long celebration will include special events, lectures, and global symposia. Watch for more details on the School website.
Now Forming: Affinity Groups Join a LinkedIn group to hear about events built around affinities and regions. There are groups for industries, job functions, and social activities. Join one or join them all. What kinds of groups? Finance, information systems, environment, marketing, entrepreneurship, and more. A sample of our LinkedIn groups: • Boston University Alumni • Boston University School of Management • Boston University School of Management Alumni • Dean’s Hosts • Executive MBA
How Can We Help You? The School is creating new ways for you to connect and communicate with each other and with your alma mater. visit the newly updated Alumni website (pictured above), management.bu.edu/alumni to see tools, get updates on campus and regional events, and more.
• INML Alumni • MBA Alumni • MBA Finance Club • Women’s MBA Association
Seeking Alumni Mentors Have expertise to share? As part of the School’s initiative to build a more vibrant alumni community, we’re launching student-alumni mentoring programs. This past spring we began with a pilot program, matching ten students with ten alumni in the Finance and Information Systems Clubs. during the Finance Club’s annual trip to Wall Street (which brings together BU students and alumni finance executives for networking and company visits), some mentors had lunch with students (right) at the Princeton Club in Manhattan. This coming fall, we’ll roll out an expanded program. If you’re interested, email smgalum@bu.edu.
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aLUMni
Former Students Create Professor Peter Arnold Scholarship Fund
T
ara Quinn (BSBA’98) has always kept in touch with Professor of Operations and Technology Management Peter Arnold. Upon learning of his imminent retirement this year, Quinn contacted classmates and former professors and started the Professor Peter Arnold Scholarship Fund. “The fact that the scholarship will allow deserving students to attend the School honors Peter as a revered educator, mentor, and respected colleague at BU,” she said. The fund will provide scholarship awards based on need to one or more undergraduates at SMG until the donations are used. If the fund reaches a minimum of $100,000, then it can be permanently endowed. To donate to the Arnold Scholarship, go to management.bu.edu/give. In the section entitled “your Gift designation,” choose the type “Other Fund” and type in “Peter Arnold Scholarship Fund at the School of Management.” If you have any questions or comments, or would like to consider pledging over multiple years, please contact Joel Carlton-Gysan (MBA’12), SMG development and alumni officer, for additional details at joelcg@bu.edu or 617.353.6137.
Alumni Weekend Comes in September BU Alumni Weekend is Wednesday through Sunday, September 19-23, 2012. SMG Alumni events are Friday and Saturday, September 21-22:
FRIDAY, SEPTEMBER 21 • SMG Hack-a-thon • FCC and Alumni Relations Student Networking Breakfast • Alumni and Faculty Panel Discussions • Poster Session and Lunch • SMG Reception and Dean’s Welcome • MBA Reunion Dinner. All classes ending in “2” or “7.” It’s your year!
SATURDAY, SEPTEMBER 22 • Entrepreneurial Bootcamp Bring your dream and leave with a plan. Preregistration required. • Affinity Brunches with Professors
ARGUS Gives Undergrads and Alumni Real Estate Advantage During a fall Real Estate Club trip to New York City, alumnus David Luski (BSBA’80) spoke to students about the value of ARGUS software in the real estate industry and how certification in ARGUS would help SMG grads stand apart when applying for jobs. ARGUS helps real estate companies optimize office workflows. Thanks to Luski’s generous donation and Allen Questrom Professor and Dean Ken Freeman’s support, an ARGUS representative came to campus to train and certify more than 35 students and alumni working in the real estate industry in a three-day intensive seminar in March. “This is an excellent example of leveraging the strengths of the School of Management community,” said Freeman.
• BU Business Showcase • SMG Outward Bound Adventure • Alumni Awards Buffet Dinner Celebrate your fellow alumni and catch up with favorite professors. To register for events, visit bu.edu/alumniweekend. bu.edu/management 31
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FaCULty
Continued on page 32. Continued from page 26. Also honored at the Gala were Professor of Finance Allen Michel, Professor of the year for second-year MBA classes; Lecturer and executive-in-Residence Ray Wilson for PeMBA; and Assistant Professor, department of Mathematics & Statistics, CAS/Finance and MSMF Program Konstantinos Kardaras for Math Finance. Assistant Professor of Information Systems Nachiketa Sahoo is one of six junior faculty members at BU recently named a Junior Fellow of the Hariri Institute for Computing and Computational Science & engineering, which recognizes outstanding early career computational researchers at BU. PaPERS, awaRDS, anD EDitORShiPS Associate Professor and dean’s Research Fellow Rui Albuquerque recently won several awards, including KPMG’s Global valuation Institute Research Grant for the paper “Search Frictions and Controlling Shareholder Illiquidity” with enrique Schroth; a Welcome II Programme grant from the Foundation for Science and Technology and the Marie Curie Action Cofund, 2011-2013; and a $105,000 Foundation for Science and Technology R&d grant (Principal Investigator), 2012-2014. Associate Professor of Marketing and dean’s Research Fellow Barbara Bickart has been appointed associate editor of the Journal of Public Policy & Marketing, effective July 1, 2012. Assistant Professor of Business Law Kabrina Chang’s (CAS’92) article “High Risk employment: The Management Headache Over Medical Marijuana” won Best Paper in the South east Regional American Business Law Society Conference in november 2011. Associate Professor of Information Systems Chris Dellarocas is senior editor, Information Systems Research and guest editor, Information Systems Research special issue on “Social Media and Business Transformation.” Professor of Finance and everett W. Lord distinguished Faculty Scholar Jerome Detemple was named a coeditor for the finance department of Management Science. Assistant Professor of Organizational Behavior Emily Heaphy received the Best Paper Award at the davis Conference on Qualitative Research in March. Strategy & Innovation executive-in-Residence Maggie Huff-Rousselle is on the editorial board of The International Journal of Health Planning and Management, and has been elected to the Governing Council of the American Public Health Association, representing the International Health Section.
Associate Professor and dean’s Research Fellow Nitin Joglekar is editing a special issue of the journal Production and Operations Management on the theme: Technology Commercialization, entrepreneurship & Growth-driven Operations. Associate Professor of Markets, Public Policy & Law Megan MacGarvie, together with her collaborator Petra Moser at Stanford University, received a $20,000 research grant as part of the economics of digitization and Copyright Initiative at the national Bureau of economic Research. Strategy & Innovation executive-in-Residence & Lecturer Paul McManus (MBA’86) was named a faculty fellow at the Pardee Center for the Study of the Longer-Range Future. He is also executive director, Sustainable neighborhood Lab, and managing director, Institute for Technology entrepreneurship & Commercialization. Assistant Professor of Strategy & Innovation Tim Simcoe has been appointed associate editor in the business strategy department of Management Science. He has also been appointed to a committee of the national Academy of Sciences to study Intellectual Property Management in Standard-Setting Processes. executive-in-Residence of Health Sector Management Andrea Sodano has been named to the national eHealth Collaborative University Advisory Council. Associate Professor of Marketing and dean’s Research Fellow Shuba Srinivasan is chair of the American Marketing Association’s Marketing Research Special Interest Group. Her paper “Consumer Attitude Metrics for Guiding Marketing Resource Allocation” is a finalist for the 2012 Robert d. Buzzell Best Paper Award, awarded by the Marketing Science Institute to papers that have made the most significant contribution to marketing practice and thought. JOint hOnORS Rui Albuquerque and Assistant Professor Yrjo Koskinen have been awarded a research grant from BSI Gamma Foundation for their project on corporate social responsibility and asset pricing (also working on the project is Art durnev from University of Iowa). Shuba Srinivasan and Associate Professor of Marketing/ dean’s Research Fellow Fred Brunel were invited to be faculty fellows at the 47th American Marketing Association Sheth Foundation doctoral Consortium hosted this year at the University of Washington (Seattle) from June 13-16. Shuba Srinivasan and Professor, Chairman, and everett W. Lord distinguished Faculty Scholar Patrick Kaufmann were chairs of the 2012 InFORMS Marketing Science Conference and the 2012 ISMS doctoral Consortium at Boston University June 6-9.
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thE LaSt wORD
Lucy Halperin Zaro (CGS’75, BSBA’77) By JOHn dICOCCO
Lucy Halperin Zaro (CGS’75, BSBA’77) started her career at Filippo Berio Olive Oil and worked her way up to national sales manager. She then moved to Tee Pee Olives, and served as vice president for six years. She is now the sole owner, president, and CEO of Tee Pee Olives/Italica Imports, in Scarsdale, NY. She currently serves on the Boston University Board of Overseers, three nonprofit boards, and SMG’s Dean’s Advisory Board. We are delighted to give her the last word.
The greatest truth in management: You need to be proactive, to be a team player, and to follow up with your team on a regular basis to get your employees’ feedback. My first job was: Working in food preparation at a country club. The last book I read was: Jack Kennedy: elusive Hero by Chris Matthews. I’ll retire when: I can no longer contribute. No one has influenced me more than: My late husband, Richard Halperin (COM’76). The moment I knew I didn’t know it all was when: I’m ALWAYS learning something new! When I was in the School of Management, I wish: I had more time to take more courses. My last meal would be: A home-cooked meal eaten with my family. The easiest part of my job is: Traveling to meet with our suppliers whom I’ve known for many years and now consider dear friends. If a film were made of my life, I’d be played by: Scarlett Johansson. Ambition is: Always striving toward a goal that you want. I believe if you really want something you can achieve it. The most difficult part of management is: Managing through the difficult times as well as through the good times—and helping people through it all. My next venture will be: Expanding our distribution with new products and new customers. My favorite place to go on vacation is: Paris, with my husband Jerry. Most people don’t know that: I love the original Shatner/Nimoy Star Trek series. Every day I make the time to: Exercise. Running a successful organization takes: The ability to multi-task. The soundtrack of my life includes: The Beatles’s “Lucy in the Sky with Diamonds,” The Rolling Stones’s “Ruby Tuesday,” and Stevie Wonder’s “I Just Called to Say I Love You.” Nothing tells more about a person than: My first impression and how they treat other people. My guilty pleasure is: Playing games on the iPad and doing puzzles. If I could change one thing about the world, it would be: To ensure that women have rights and freedoms in all countries around the world. I’m happiest when: Everyone I care about is happy. The wisest investment I ever made was: To invest my career in a business that I love—and now own.
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Boston University School of Management 595 Commonwealth Avenue Boston, MA 02215
inside SMG is On the Case Page 8 Student Profiles Page 11 Faculty accolades accolades Page 26
SMG Marketing Department Hosts Marketing Science Conference Associate Professor of Marketing and Dean’s Research Fellow Shuba Srinivasan (above) and Professor of Marketing and Everett W. Lord Distinguished Faculty Scholar Patrick kaufmann cochaired the 2012 Marketing Science Conference, the annual meeting of INFORMS Society for Marketing Science, which Srinivasan called “an incredible success.” Almost 1,100 faculty and doctoral students from around the world attended the event at the Westin Copley Place Hotel, up from 750 the previous year. “Pat and I focused considerable attention on programmatic content for this year,” said Srinivasan, “with sixteen tracks that attendees could follow and a six-fold increase in special sessions. We believe the addition of the special sessions on Internet, interactive marketing, and social media research, plus our Boston location, helped drive the numbers up.” “Attendees could choose from almost 700 lectures over the three-day conference,” added Kaufmann. “Overall it was more inclusive, more international, and a more event-rich meeting than ever before.”
Creating Value for the World SM
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keep in touch
keep in touch Builders & Leaders keeps you informed about what’s happening at the School of Management. Please take a moment to help us keep up with your progress by completing the form in the back.
Please help us keep up with your personal and professional accomplishments by updating your contact information on the Alumni Online Community (www.bu.edu/alumni) or by completing and faxing or mailing this page. Fax to (617) 353-5581. Mail to: Alumni Relations, School of Management, Boston University, 595 Commonwealth Avenue, Boston, MA 02215-9779. For more alumni information and updates, please visit Alumni Online Community (www.bu.edu/alumni). New address? o Yes o No Name
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Which address do you prefer the School to use? o Home o Business News about you for Classnotes: (Civic and professional honors, career activities, family additions)
I am interested in the following: o Helping to organize my next reunion o My company has internship and/or job opportunities for BU students and alumni o Planned or Deferred Giving (Please send me information.) o Other ________________________________________________________________________________________ Please use the attached card. Fold and seal with tape.
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Questions? Call Alumni Relations—(617) 353-5454 • Fax (617) 353-5581 • Email smgalum@bu.edu
Boston University Alumni: www.bu.edu/alumni SMG Alumni: management.bu.edu/alumni
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Alumni Relations Boston University School of Management 595 Commonwealth Avenue Boston, MA 02215-9633
keep in touch Builders & Leaders keeps you informed about what’s happening at the School of Management. Please take a moment to help us keep up with your progress by completing the form in the back.
Please use the attached card. Fold and seal with tape.
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