ELONBusiness MARTHA AND SPENCER LOVE SCHOOL OF BUSINESS
2010-11 annual report
prepared for Alumni and Friends
ELONBUSINESS
Elon University President Leo M. Lambert Interim Dean of the Love School of Business Scott Buechler, Ph.D. Associate Dean Cassandra DiRienzo, Ph.D. Associate Dean for Graduate and Executive Programs William J. Burpitt, Ph.D. Editor Nicole Filippo ‘04 Designer Carolyn Nelson Photographer Kim Walker Copy Editor Keren Rivas ‘04 Contributor Eric Townsend Published August 2011 Elon Business is published yearly for alumni and friends by the Martha and Spencer Love School of Business Send inquiries to: Martha and Spencer Love School of Business Elon University Ernest A. Koury, Sr. Business Center 2075 Campus Box Elon, N.C. 27244-2020 lsbdean@elon.edu 336-278-6000 elon.edu/elonbusiness Mission
To provide exceptional learning experiences that facilitate the transformation of students into knowledgeable, responsible business professionals and leaders who make a difference in their professions, their organizations and the global economy.
Follow us: facebook.com/elonbusiness twitter.com/elonbusiness
Contents
2 2010-11 Year in Review Celebrating 25 Years of the Martha and Spencer Love School of Business 4 4 Laying the Foundation 1985-1994 6 Setting Itself Apart 1995-2004 8 Becoming a Leader 2005-2011 9 Student Success 12 Porter Family Legacy: Like Father, Like Son 13 A Gala Celebration 14 Interview with Outgoing Dean Mary Gowan 15 Dean’s Awards 2010-11 16 New Faculty 2010-11 16 Love School of Business Alumni Network
Dear LSB Alumni and Friends,
This year
marks the silver anniversary of the Martha and Spencer Love School of Business. At the time it was established a quarter-century ago by a gift from the Martha and Spencer Love Foundation, the business program had roughly 150 students and 14 faculty.Today, we boast over 1,200 majors and nearly 50 full-time faculty. Looking back over the past 25 years, we can all take pride in what we have worked together to build; students, faculty, staff, alumni and friends have all contributed to the growth and success that is the story told in this silver-anniversary edition of the LSB annual report. In the 2010-11 academic year alone, we have seen an exceptional range of achievements. Under the dynamic leadership of former Dean Mary Gowan, the school: n Won or placed high in several student case competitions, beginning with the Eller Ethics Case Competition in October, which we won for the second straight year, and ending with the Institute of Management Accountants Student Case Competition in June. For a complete listing, see pages 9-11. n Launched new majors in entrepreneurship, finance, management and marketing, and will launch majors in international business and international economics this fall.
Stanley, the Boston Red Sox, the Carolina Panthers, Teach for America, the American Cancer Society and many others. None of this would be possible without the generous help of our alumni and friends, who serve as mentors to our students, help place them in internships or jobs, present lectures in our classes, host visits to their firms and contribute financially.
n Celebrated faculty who won recognition for their teaching, scholarship and service, receiving awards for advances in pedagogy, best paper, best presentation at a conference and advising of student organizations.
The story told in this magazine is a story about people – students (current and past), faculty (new and seasoned), staff (the backbone of any organization) and alumni (recent and graduates of years past). An organization is only as good as the people who participate in it. The LSB is a great organization because of the great people who participate in it.
n Gained much-deserved recognition by Bloomberg Businessweek, which ranked the Love School of Business undergraduate program as #60 in the nation overall, #26 for academics, #19 for entrepreneurship and #22 for sustainability; and The Princeton Review, which ranked our part-time MBA program as having the fourth-best administered program in the nation with the fifth-best campus facilities.
Enjoy the story of the Martha and Spencer Love School of Business as told in this year’s annual report. We invite you to be a part of its 25th year anniversary celebration by attending Elon’s Homecoming (more details on our back cover). Above all, we hope you stay involved. Every achievement mentioned here bears the stamp of our great alumni and friends. In the coming year, I look forward to working with you to keep up the momentum generated over the past 25 years.
n Sent students to study abroad in far-flung places throughout the world and gained approval for new study abroad exchanges with schools in Germany and France, as well as Winter Term programs in Turkey, India, Vietnam and the Cayman Islands. n Placed our students in internships or permanent positions with Apple, Cisco, Google, SAP, Credit Suisse, Morgan
Scott Buechler, Ph.D. Interim Dean, Martha and Spencer Love School of Business
[1]
2010-11 The Year in Review
2011 Beta Gamma Sigma inductees
September
October
Burney Jennings ’87,
Venture capitalist and former NASA astronaut Bernard A. Harris, Jr. was honored in a ceremony as the second recipient of the Elon University Medal for Entrepreneurial Leadership. Sponsored by the Doherty Center for Entrepreneurial Leadership and the LSB, the medal recognizes an entrepreneur who is a
president and chief executive officer of Biscuitville, was recognized for his outstanding contributions as a business leader in the annual Legends
of
Business
program. In his address, Jennings talked about the history of his company, which was founded by his father, Maurice Jennings ’57, and offered advice for running a strong company. The program is made possible by a gift from the R. Cruse Lewis Master Pools Endowed Fund at Elon University.
November Steve Schuckenbrock ’82, president of
Beta Alpha Psi hosted its ninth annual Meet and Greet for finance and account-
ing students. More than 100 students met with representatives from 24 firms, including IBM Corp., Credit Suisse, Ernst & Young, LabCorp and KPMG. Nineteen Business Fellows and six faculty members traveled to New York City to visit the New York Stock Exchange and several firms, including PricewaterhouseCoopers, Credit Suisse, David Beahm Designs, Thomson Reuters, Nomura, Merrill Lynch and Symrise.Visits were made possible by Elon alumni, parents, LSB advisory board members and Gary Tsarsis, director of the William G. Reed Finance Center. Thomson Reuters hosted a networking reception for the Business Fellows and local Elon alumni. Members of the Elon Alumni Board made surprise visits to business classes to share industry and career advice with students. Board members included Tim Moore ’78, Chris Martin ’78, Bill Coffman ’86 G’88 and Kelli Palmer ’98.
[2]
Elon entrepreneurship students hosted the founders of Texas Natural Resources, LLC. The students participated in discussions regarding commercialization of technology with Lee Palles, chief financial officer; Milton Young, senior vice president of global markets; and Mark Mitchell, senior vice president of government markets. The visit was sponsored by the Doherty Center for Entrepreneurial Leadership.
leader in his or her industry and who exemplifies the values of Elon University, including integrity, innovation, creativity, a passion for lifelong learning, and a commitment to building a dynamic community. The LSB hosted a panel discussion for students during Homecoming 2010. Alumni Hilary Corna ’07, Jeremy Kitts ’09 and Christine Winans ’10 shared their career advice and addressed questions from students, faculty and other alumni.
Dell Global Large Enterprise, received the 2010 Distinguished Alumnus of the Year Award from President Leo M. Lambert. During the ceremony in LaRose Digital Theatre, Schuckenbrock shared with students, faculty and staff wisdom gleaned from his nearly 30 years in the
information technology field and discussed the critical relationship between technology and business.
February Students, faculty, staff and friends of the LSB attended the school’s 25th Anniversary Gala at the Alamance Country Club in Burlington, N.C.The event featured announcements of major gifts by Elon parent and trustee David Porter P’11 and the Martha and Spencer Love Foundation.
2011 LSB Awards Program
As part of the Ethics in Business Speaker Series, retired U.S. Army Lt. Gen. John Moellering, chairman of USAA, presented “Business Ethics in the Real World— A Cautionary Tale.” He shared stories of his post-Army career, which included more than a decade with Lear Siegler Services Inc., and discussed some of the ethical dilemmas he faced as a business
for success for students with interests in entrepreneurship. Named for university trustee C. Ashton Newhall ’98, the series brings successful entrepreneurs to campus to share their knowledge and experience managing the risks and rewards of entrepreneurial endeavors. Seven students participated in the LSB’s first alternative spring break trip to Jacksonville, Fla., where they participated in community service and outreach projects. The students also met with executives from the United Way, Jacksonville Jaguars and the PGA Tour to learn about the business side of nonprofits and professional sports organizations. LSB Director
The best and brightest of the LSB were honored in the school’s Annual Awards Program. Fifteen academic achievement awards and 31 endowed scholarships were given to students. Five Dean’s Awards were presented to faculty and staff (see page 15 for more information).
May Thirty-five undergraduate and MBA students were inducted into the Beta Gamma Sigma honor society. The chapter honoree and guest speaker was Elon alumna and LSB advisory board member Bernadette Spong ’78 G’07 P’09 P’10, who currently serves as the senior vice president of finance for Rex Healthcare. The Chandler Family Professional Sales Center sponsored the Sales Certificate Ceremony and Dinner held at the Ala-
leader. The talk was co-sponsored by Beta Alpha Psi, the PRME initiative and the school.
March Raj Ananthanpillai P’11, president and CEO of InfoZen, a company that provides software solutions for the federal government and select commercial customers, visited Elon as the latest speaker in the C. Ashton Newhall Endowed Lecture Series. Ananthanpillai offered observations from his career and tips
April
of Undergraduate Programs Sarah Thomas ’05 G’09, and Michael Jacobs, assistant athletic director for marketing and ticket operations, accompanied the students. The Chandler Family Professional Sales Center sponsored a Meet and Greet for
sales and marketing students. More than 60 students networked with representatives from 20 firms including Dell, ADP, EMC, LabCorp, Chandler Concrete, Gallo Wines, Senn-Dunn Insurance, Pearson Prentice Hall and TEK.
mance Country Club, which featured guest speaker Scott Seiler, sales executive for ADP. Megan Anderson ’11 was presented with the ADP Sales Leadership Award and 28 students received sales certificates. The Business Fellows Class of 2011 was recognized in a ceremony in the LaRose Digital Theatre. Former Dean Mary Gowan and Interim Dean Scott Buechler presented medallions to the 21 graduating fellows.
[3]
S th cho Fo e M ol un a fo da rth un tio a a de n nd d b in S y la pe gi te n ft De ce fro ce r Lo m m v be e Fi rs r tE lo n M BA cl as sg ra du LS at B ed Bo ar d of Ad vi so rs fo To rm Pi m ed na lot Tie m Pr m ed of an fir ess n, st o Je de r o ffe an f E rs co on no m ic s,
M artha and S pencer
1985
Laying the foundation In December 1985, the Martha and Spencer Love Foundation made a $1 million gift to Elon College to endow its business program. In memory of the foundation’s benefactors, the Elon board of trustees voted to name the program the Martha and Spencer Love School of Business. Throughout the years, the foundation’s support for the Love School of Business has remained constant. In 2007, the foundation endowed scholarships for business students. Since then, the Love Awards for Excellence in Business Leadership have been given annually to a student in the business school who demonstrates excellence and unusual promise for further development in intellect, character, moral courage and leadership. In February 2011, and as the Love School of Business kicked off its 25th year anniversary celebrations, the foundation made another gift to endow the Martha and Spencer Love Term Professorship. Earl Honeycutt, marketing professor and
director of the Chandler Family Professional Sales Center, was appointed to that chair in the summer. This latest endowment renews the foundation’s commitment to solidify the school’s role as a leader in transformative business education.
[4]
{ } 1986
1987
1988
Scan this QR code with your smartphone to watch a video about the Love School of Business or go to elon.edu/ elonbusiness
Board of advisors, then and now In February 1987, the Love School of Business Board of Advisors held its first meeting. The board consisted of 10 members from the Piedmont North Carolina business community and other parts of the country. Today, the advisory board has 35 members who represent local, state and national companies and corporations, including SunTrust Bank, Lincoln Financial Group, AT&T North Carolina, Lay-Z-Boy Inc. and IBM, to name a few.
1992
“
1994
ra m B es usi ta ne bl ss is F he el d low sp ro g
na m ed Be hr m an R de ich an ard
W .R
ob er t
Gu ffy
na m ed
de an
L ove S chool of B usiness
1994
Business Fellows: Forming global citizens
McGregor retires after 21 years of service
Established in 1994, the Business Fellows program blends classroom learning and real-world experiences to give students a deep understanding of the challenges and opportunities of today’s complex organizations. From studying abroad in a developing country during their first year at Elon, to managing a $100,000 portfolio of the Elon endowment or consulting with companies on business issues in their senior year, Business Fellows graduate ready to take a leadership role in their professions, organizations and communities.
Calvert C. “Buck” McGregor, Jr., associate professor emeritus of
Elon University has made its mark on the national map. I would like to see the LSB brand grow nationally and ultimately become a household name in the business world. As the school enhances its brand, I would like to see more strategic relationships at the national level with employers that will enhance the employment opportunities of our students. Our growing alumni base can help develop and nurture these opportunities.
”
Sam Burke ’89 PricewaterhouseCoopers Burke graduated from Elon with a degree in accounting. Prior to becoming a partner in PricewaterhouseCoopers’ national independence office, he served for three years as associate chief accountant for the Securities and Exchange Commission. He is a member of the American Institute of Certified Public Accountants and serves on the Love School of Business Board of Advisors.
accounting, regards his decision to join Elon’s faculty as one of the best he’s ever made. Since arriving at Elon in 1990, McGregor has been busy teaching undergraduate and graduate courses, mentoring students and faculty, and providing leadership for the Love School of Business and the university. He served as chair of the department of accounting for eight years, received the Dean’s Award for Excellence in Teaching, served as the founding president of Elon’s Beta Gamma Sigma chapter and supervised the first three honors theses in the accounting department. “Buck has been a valued member of the department, school and university,” says Linda Poulson, associate professor and chair of the accounting department. “He has provided outstanding service and leadership, and has been a true mentor to me and other members of the faculty.” While reflecting on his time at Elon, McGregor says he has made “lasting friendships” and “wonderful memories.” He has also witnessed the transformation of Elon College to Elon University and the dynamic growth of the LSB. “These have been a remarkable 21 years,” McGregor says. “It has been my privilege to watch the blossoming of a good but little-known college into a great university. Likewise, I have seen a good little business school develop into a national leader in academic quality and student engagement.” In regard to the future of the LSB, McGregor says, “I think the main thing is that the LSB doesn’t have to become something – the LSB already is something.” For students and faculty, he offers the following advice: “Let your work be a labor of love. Elon is a great place to be a part of, whether it’s for a short time or a very long time. Enjoy it and make it even better than you found it.” While McGregor will miss being at Elon, he looks forward to spending time with his wife, Audrey, as they reconnect with friends and family, travel to new places, revisit places where they lived as a young couple, and explore America’s parks, gardens, museums and historic sites. [5]
1995
1996
Setting itself apart
When John Burbridge, Jr. became dean of the Martha and Spencer Love School of Business in 1996, he had one goal in mind: to firmly assert the school’s identity within Elon and in the surrounding community. He reorganized the school’s curriculum, reinvented the MBA program and brought the finance and accounting programs together. Burbridge also brought area business leaders to campus as speakers and allowed business groups to use the school as a meeting venue for events. In addition, Burbridge pushed for the school’s pursuit of accreditation from AACSB International – The Association to Advance Collegiate Schools of Business, a distinction Elon and the Love School of Business earned in 2004. As part of the accreditation process, Burbridge expanded the school’s faculty. He also campaigned for the construction of the Ernest A. Koury, Sr. Business Center, which became the school’s home in 2006. In the 11 years he served as dean, Burbridge successfully built on the foundations laid by his predecessors to ensure business graduates were better equipped to respond to the leadership challenges of the 21st century.
“
The business world has become a global marketplace and LSB students should not only be studying the economies of developed nations, but also regions that are still under rapid growth and change. They should not only have a sound grasp of the sciences they are learning in the classroom, but should also be able to understand the financial markets and the economy as a whole.
”
Shane Powers ’99 Global Markets Solutions Group/M&A, Credit Suisse A native of Hoboken, N.J., Powers graduated from Elon with a degree in business administration. He also holds a master’s degree in business administration from Fordham University. For the past four years, Powers has served as vice president of Credit Suisse’s Global Markets Solutions Group/M&A in New York.
[6]
st ud Fr y ex a Bu n pe k si S rie ne . H nc ss o e Le lt, es ad Jr. ta er Pr bl sh of is e ip s he es so d ta r o bl f is he d
gl ob al BA M
Jo hn
Bu rb rid
ge ,J r. na m ed
de an
R be eno ca va m te e d fir W st ill offi iam ci S al . L ho on m g e Bu of il th di e ng Sc ho ol
In the spring of 1995, the Elon Board of Trustees approved the renovation of the William S. Long Building to house the Martha and Spencer Love School of Business. Before the move, the accounting and business administration departments occupied the second and third floors of Alamance Building, while the economics department was housed in Long Building.
1998
2000
Internationalization of the Love School of Business In the mid-1990s, the Love School of Business began to take a more global perspective in its curriculum. Through increased study abroad opportunities, business students were exposed to how business was transacted throughout the world while experiencing different cultures and societies. In the winter of 1998, MBA students traveled to China for the first time, attending lectures and visiting industrial facilities throughout the country for 11 days. That same year, the Love School of Business submitted a proposal to the U.S. Department of Education for additional funding to internationalize its curriculum, expand study abroad opportunities for majors in business fields and provide international business seminars in the community. The grant, which was awarded in 2000, supported the school’s five-year plan, which included a strong commitment to preparing its graduates to compete in the global marketplace, a commitment that continues to this day. During the past academic year, business students studied abroad in different parts of the world and the school gained approval for new exchanges with schools in Germany and France, as well as Winter Term programs in Turkey, India, Vietnam and the Cayman Islands. This fall, the school will also launch majors in international business and international economics.
2001
2003
L tio SB n ear by n AA ed CS init B ial In a te cc rn re at di io t a na Be l in ta st G al am le d m a Si gm a ch ap te r
pr og ra m
E la lon un E ch xec ed Ed
Ac ad em y E es lon ta En bl te is r he pr d ise
2004
2004
Elon achieves highest accreditation in business education Paving the way for creative entrepreneurial education In 2001, Elon received a grant of nearly $400,000 from the Fund for the Improvement of Post-Secondary Education to create the Elon Enterprise Academy. The academy’s main goals were to better prepare students for the complexity of organizational life, encourage innovation and adaptability, and enhance leadership skills. Though the program ended in 2004, its legacy lives on in the Doherty Center for Entrepreneurial Leadership, which opened in 2007 and focuses on preparing students for success as entrepreneurs.
In April 2004, the Martha and Spencer Love School of Business received accreditation by AACSB International – The Association to Advance Collegiate Schools of Business, a distinction earned only by the top business programs in the world. The achievement capped a five-year initiative at Elon to make major investments and improvements in the quality of its business programs. Headquartered in Tampa, Fla., AACSB International is the premier accrediting agency and service organization for business schools. Its mission is to foster excellence in management education in colleges and universities.The Love School of Business received reaccreditation in 2009.
Providing real-world experience: The Elon ExecEd program Established in 2003, the Elon ExecEd program helps private, public and nonprofit organizations and their employees acquire the capabilities they need to compete in a global economy. It gives managers the opportunity to rethink their assumptions regarding markets, competition and how their firm is positioned for continued success. Using a consulting model that begins by discussing the issues confronting a firm with its management and staff, the program develops and delivers customized solutions tailored to the needs of the client. “We start each client engagement with a blank slate and build a program that meets the client’s needs,” says Bill Burpitt, professor of management and associate dean for graduate and executive programs at the Love School of Business. “We utilize all the tools of the Martha and Spencer Love School of Business, including partnering the client with student groups who provide unique and valuable perspectives.” Elon ExecEd also provides a variety of opportunities to help individuals develop their leadership and professional skills. Past professional development opportunities include the Project Leadership Series, Effective Leadership Program and continuing professional education seminars for accounting professionals.
Recognizing success: Beta Gamma Sigma On May 4, 2004, 55 business students and faculty were inducted into Elon’s new chapter of Beta Gamma Sigma, the international honor society that recognizes achievement by business students at schools accredited by AACSB International. Since then, hundreds of outstanding students have been welcomed into the prestigious organization that encourages and honors academic achievement in the study of business, and personal and professional excellence in the practice of business. More than 650,000 people, many of whom occupy key management and leadership positions in a variety of global industries, have accepted membership in Beta Gamma Sigma since its founding in 1913. [7]
Fi na nc e
ne ss
W Ce illi nt am er G op ar en rar ed d
Re ed
E Ce rne nt st er A. op Ko en ur ed y, S r. Bu si 2006
2006
Learning from today’s leaders Every year the LSB invites distinguished senior executives to share their expertise with students by participating in the Executive-in-Residence program. The program is designed to provide students with opportunities to engage in dialogue with today’s business leaders. During the 2010-11 academic year, seven executives visited with students to discuss global business issues, share personal insights from their work experience and offer career advice. This year’s executives included:
The Ernest A. Koury, Sr. Business Center offers the latest technology and provides students and faculty members with an attractive space for teaching and learning.
Becoming a leader
Since becoming accredited by AACSB International and relocating to the 60,000-squarefoot Ernest A. Koury, Sr. Business Center in 2006, the Love School of Business has continued to focus on improvement with a vision of becoming a leader in transformative education. The growing school now includes the William Garrard Reed Finance Center, Doherty Center for Entrepreneurial Leadership, Chandler Family Professional Sales Center, Porter Family Professional Development Center, an executive education program, and the
departments of accounting, economics, finance, management, and marketing and entrepreneurship. The school’s faculty and staff have worked strategically over the past several years to create an engaged learning environment that prepares students for their [8]
future roles as business professionals and leaders. Their collaborative efforts have resulted in the business school being ranked in Bloomberg Businessweek’s 2011 list of “Best Undergraduate Business Schools.” The school ranked #60 overall, #26 for academic quality, #19 for entrepreneurship and #22 for sustainability. This is Elon’s
first appearance in the annual ranking, which identifies the top undergraduate business programs based on measures of student satisfaction, post-graduation outcomes and academic quality. “The recognition of our program in this public forum attests to our success, especially by achieving a ranking this high the first time we are ranked,” says Mary Gowan, professor of management and former dean of the Love School of Business.
Sam Burke ’89, partner with PricewaterhouseCoopers and LSB Board of Advisors member Bill Ferrell P’09 P’13, founder, president
and chief investment officer of Ferrell Capital Management Michael Gannaway P’01, vice presidentVF direct/customer teams for VF Corporation and LSB Board of Advisors member Peter Herbert P’14, managing director of
Goldman Sachs Dave Potts ’95, senior manager of human capital solutions for Deloitte Consulting John Rice P’13, vice chairman of GE and president and chief executive officer of GE Global Growth and Operations Mark White P’13, chief financial officer of SAP North America and LSB Board of Advisors member.
2007
2007
Beta Alpha Psi puts learning into action Elon’s Lambda Xi chapter of Beta Alpha Psi, the honorary organization for financial information students and professionals, and the LSB sponsored their first annual Volunteer Income Tax Assistance (VITA) Clinic in March 2011 at Holly Hill Mall in Burlington, N.C. The IRS program offers free tax help for low-to-moderate income populations. Nearly 30 students became certified to prepare basic tax returns for qualifying taxpayers in the Alamance County area. “This is a great experience for our students so that they can combine their formal accounting and tax education with a real world experience,” says Art Cassill, Elon’s VITA initiative faculty advisor and Wesley R. Elingburg Professor of Accounting. Jennifer Kirts ’11, former Beta Alpha Psi chapter president, says the event was also a way for students to give back to the surrounding community. The chapter plans to make the VITA clinics an annual service project. Elon’s Student Government Association recognized Beta Alpha Psi with the 2011 University Organization of the Year Award in the “30 members or more” category. The association also named faculty advisor Patty Cox, assistant professor of accounting, the 2011 Barbara H. Carlton Outstanding Faculty Advisor of the Year.
LSB students
2007
“
de an na m ed Go w an ar y M
D Le oh ad ert er y C sh e ip nt op er en for ed En Do tr En h ep e tr r t re ep y ne re Pr ur ne of ia ur ess l ia or l L sh ea ip L de fo es ove rs r ta A hi bl w p a is r es he d ta d for bl is Bu he si d ne ss Ex ce lle nc e
A gift by Elon parents Edward and Joan Doherty (center) of Saddle River, N.J., established and permanently endowed the Doherty Center for Entrepreneurial Leadership, whose program focuses on experiential education and preparing students for success as entrepreneurs.
2007
While at Elon I did three internships, studied abroad once and completed undergraduate research through my honors thesis. These experiences helped me build on what I learned in classes as well as hone in on what I felt I’d like to do for my career. They also proved to be valuable experiences when it came to interviewing for full-time employment post-graduation.
Danica Shipley ’11 The Nielsen Company A native of Georgia, Shipley graduated from Elon with a degree in marketing and a minor in computer information systems. In July, she launched her professional career with The Nielsen Company in Covington, Ky., where she works as an analyst in specialized analytics.
Where: University of Arizona, Tucson, Ariz.
Competition: 2010 Russ Berrie Institute National Sales Challenge
Who: Charley Costa ’11 and Stephen Azar ’12
Where: William Paterson University, Wayne, N.J.
Faculty advisor: Christy Benson, assistant professor of business law and ethics
Who: Meg Anderson ’11, Charley Costa ’11, Lauren Fredrickson ’11 and Cody Lance ’12
competitions this
Result: Elon placed first out of 30 teams in the invitation only competition.
Faculty advisor: Michael Rodriguez, assistant professor of marketing
past academic year.
Worth noting: Costa and Danny Bell ’10 won first place in 2009.
Result: Anderson placed first in the sales roleplay and speed-selling events and first overall in the championship round. Costa placed second in the speed-selling event and third in the championship round. Elon’s team was named the top school team at the competition. This was Elon’s first appearance in the competition.
earned top honors at national and international
Competition: 2010 Eller Ethics Case Competition
”
Student success
[9]
2008
2009
2009
L w SB Bu eek is r si ’s an ne lis ke ss t o d S c f “ in ho Be Bl ol st oom s” U nd be er rg gr Bu ad si ua ne te ss-
B Ad ach m elo in r is of tr S at c io ien n c de e gr in B ee u B cr sin ea es El loo te s #6 on mb d in MB er g th A B e #1 us na i in tio n t es n he sw S o ee ut k r h an an ke d d
Pr of Ch es Ce an so nt dl rs hi er er p op Fa en m i l ed y Pr of es si on al Sa le s
bu rg W es esl ta ey bl R is . E he li d ng 2007
2011
Alumna steps into new position focusing on the undergraduate experience Sarah Thomas ’05 G’09 is originally from Sewickley, Penn., but has called Elon her home for the past 10 years. She decided to enroll at Elon after falling in love with the school’s campus, climate and people during a campus visit. Thomas received a bachelor’s degree in physical education with a teacher licensure from Elon in 2005, and since has held several positions at the university. She received her MBA from Elon in 2009 and now serves as the director of undergraduate programs in the Love School of Business. Her current position was established in the summer of 2010 to facilitate a better understanding of undergraduate business students and ensure their needs and concerns are addressed effectively. Her role involves educating and encouraging students to take advantage of the LSB’s resources as well as engaging students in programming, such as the school’s Executive-in-Residence program and alternative spring break trip. Thomas also advises the Business Learning Community and Elon’s chapter of Students in Free Enterprise, manages the LSB Student Leadership Council, and collaborates with the Porter Family Professional Development Center’s team on student career and internship services.
Competition: 2010 World Collegiate Sales Open Where: Northern Illinois University, DeKalb, Ill. Who: Carl Hairston ’11 and Tyler Reynolds ’11 Faculty advisor: Michael Rodriguez, assistant professor of marketing Result: Elon competed in five out of eight phases to place in the top four. Hairston won overall champion. Reynolds won first place in the voicemail phase and second place in the appointment-setting phase.
Sarah Thomas ’05 G’09, left, director of undergraduate programs at the LSB, during an advising meeting with student Eleisha Hairston ’13.
The aspect of the job Thomas most looks forward to is mentoring students each day, whether it’s by having lunch with them, engaging in an advising meeting, organizing a leadership activity or emailing a weekly newsletter. “The opportunity to work with our students and help them become more prepared to enter the working world provides me with a great sense of accomplishment,” Thomas says. “My love for Elon is immeasurable. I approach each day remembering how transformative Elon was for me with the hope I can share that enthusiasm with each student.”
Competition: 2011 Chartered Financial Analyst Global Investment Research Challenge Where: The University of North Carolina at Greensboro, Greensboro, N.C.
Where: Charlotte, N.C.
Who: Dylan Ketcham ’11, Kaitlin Marvin ’11, Kara Moore ’11, Ryan Rosati ’11 and Matt Verboon ’11
Who: Alex Dempsey ’12, Madeline Benn ’12 and Jake Schoenfeld ’12
Faculty advisor: Neeraj Gupta, assistant professor of finance
Faculty advisor: Patty Cox, assistant professor of accounting
Result: Elon placed third in the state finals, surpassing MBA teams from Duke University and Wake Forest University.
Result: Elon placed first in a field of six teams in the category “Enhancing Our Role in Environmental Sustainability and Social Responsibility.”
Worth noting: Elon was the only allundergraduate team to place in the top three.
[ 10 ]
Competition: 2011 Beta Alpha Psi Southeast Regional Conference Best Practices Competition sponsored by Deloitte
2011
Bu ec hl er na M a m so rt ed rs ha hi a in p n te es d rim S ta p bl en de is c an he er d Lo ve Te rm Pr of es
Sc ot t
SB co Th m De e m P ve or em lo te or pm r F at en am ed t C ily en Pr te of r o es pe sio ne na d l
of L ar y An ni ve rs th 25 2011
2011
2011
In their own words Graduates of the 25th MBA class reflect on the program
“By earning my Elon MBA, I have new
opportunities to advance my career. Employers know that the Elon program is rigorous and that graduates are prepared to compete in the global marketplace.
“
— Carol Ann Mullis G’11, program manager, Duke HomeCare & Hospice
Elon MBA program ranked among best by Princeton Review The Princeton Review’s 2011 edition of the “Best 300 Business Schools” ranks Elon’s part-time MBA program as the nation’s fourth “best administered” program and fifth in the “best campus facilities” category. The annual guide of top graduate business programs is based on data provided by schools and a survey of 19,000 business students across the nation. Elon students commended the program’s globally focused curriculum, excellent facilities, commitment to experiential learning and affordable cost. Thirty-eight students received MBA degrees during a May 2011 ceremony in Whitley Auditorium.
“The Elon MBA program has given me
exactly what I wanted and needed. It has instilled in me the confidence to tackle the challenges of my position as a health business operations manager, to create opportunities and, most importantly, to communicate effectively.
“
— Michael Levy G’11, clinical business operations manager, UNC Health Care
“This journey was like a three-year work-
out for my brain. I have gathered tools for my professional career and personal life that are applicable now and will change how I perceive the future…. Six months after completing my first class I was promoted. Now that’s what I call engaged learning in real time!
“
— Betty Rouse G’11, demand planning and analysis manager, Kayser-Roth Corporation
Competition: 2011 Duke University Economics Department 9th Annual Undergraduate Research Symposium
Competition: 2011 MIT Global Startup Workshop’s Elevator Pitch Competition sponsored by SoftBank Ventures Korea
Competition: 2011 Institute of Management Accountants Student Case Competition
Where: Duke University, Durham, N.C.
Where: Seoul, South Korea
Who: Kaylyn Swankoski ’11
Who: Brian Serow ’12
Who: Claire Tamer ’11, Jamie Milliski ’12, Sam Upton ’12 and MBA candidate Jeff Colgan
Faculty advisor: Katy Rouse, assistant professor of economics
Faculty advisor: Gary Palin, executive director of the Doherty Center for Entrepreneurial Leadership and senior lecturer of entrepreneurship
Result: Swankoski was awarded the 2011 Allen Starling Johnson Jr. Outstanding Symposium Presentation Prize for the presentation of her thesis, “The Influence of School on Childhood Weight Gain.” Worth noting: Swankoski previously presented her paper at the Eastern Economics Association annual conference in New York and Elon’s Spring Undergraduate Research Forum (SURF).
Result: Serow placed first out of 47 people.
Where: Orlando, Fla.
Faculty advisor: Paula Weller, lecturer of accounting Result: Elon placed first out of 25 teams. Worth noting: Elon’s case solution is available by contacting Jodi Ryan at jryan@imanet.org.
Worth noting: Serow and Alex Carberry ’11 first presented the winning pitch at Elon’s Idea Launch Pad.
[ 11 ]
P orter
F amily
L egacy
Like father, like son s
Impressed with his son’s experience at Elon and by the caliber of Elon students who have worked as interns at his company, Elon trustee David C. Porter announced during the LSB 25th anniversary gala a major gift to endow the Porter Family Professional Development Center. The center provides resources to assist students in preparing for and acquiring internships, full-time employment or graduate school placement after graduation. “The aim of our four-year professional development plan is to accelerate and enhance students’ readiness for life beyond Elon,” says Richard Jordan, associate director of career services for the LSB. “The Porter family’s gift will help us give students the tools, techniques, approaches and support necessary to identify and secure the right internships and jobs.” In his announcement, Porter, owner and managing partner of Baystate Financial Services, LLC, in Boston, thanked the LSB and its faculty for the education his son, Tim Porter ’11, received while earning his bachelor’s degree in entrepreneurship. He also noted he hopes his gift will help students receive a great education, lead them to make a meaningful contribution in their profession and encourage them to give back to Elon in the future.
[ 12 ]
s
Tim Porter ’11, an entrepreneurship major and Doherty Scholar, wanted to find a way to provide local children with an opportunity to feed their entrepreneurial spirit. During his senior year, he coordinated with organizations in Alamance County to hold a Lemonade Day event. Part of an experiential learning national program, the event is designed to teach youth basic lessons about finance and entrepreneurship, as well as fundamental lessons about life, success and themselves. As a result of Porter’s efforts, more than 600 children registered to sell lemonade at neighborhood corners, businesses and public spaces across the county. He believes the Lemonade Day experience can strengthen children’s selfconfidence and encourage risk-taking in other aspects of life, whether by challenging themselves in advanced classes or trying out for a sports team. The LSB entrepreneurship faculty took note of Porter’s passion and community leadership and selected him as the recipient of the LSB Student Achievement in Entrepreneurship Award. Gary Palin, executive director of the Doherty Center for Entrepreneurial Leadership and senior lecturer of entrepreneurship, says Porter has “left a legacy at Elon that will benefit numerous children in future years.”
A Gala Celebration
O
n the night of Feb. 5, 2011, faculty, staff and friends of the Martha and Spencer Love School of Business gathered at the Alamance County Country Club in Burlington, N.C., to commemorate the school’s 25th anniversary. As they stood with glasses raised, they paid homage to those who made possible the development of the business program at Elon and celebrated the accomplishments achieved during the past quarter-century.
“My parents would be extremely proud of the school, and have great respect for the accomplishments of the various deans, faculty members and students since 1985. They would consider it an honor for the school to be named after them.” Charles Love, son of Martha and Spencer Love and chairman of the Love Foundation
[ 13 ]
After serving four years as dean of the Martha and Spencer Love School of Business, Mary Gowan stepped down from her position on June 1, 2011. Her experience and leadership allowed the Love School of Business to achieve new academic and institutional heights, which enabled Elon to reach an important goal of earning top rankings for both its undergraduate and graduate business programs. Gowan talked about her legacy and the future in this interview.
Interview with Outgoing Dean Mary Gowan What do you consider to be the most significant events of your deanship?
What role have alumni played in the success of the school over the past few years?
During my first two years, we spent considerable time developing a new vision, mission and values statement for the LSB, followed by the development of a five-year strategic plan. The work we did then is reflected in the many successes we have experienced in the past few years. We now have nationally ranked graduate and undergraduate programs. We have a new departmental structure that allowed for the creation of a new degree, seven majors and two minors. Our students are regularly competing in and winning major national and international competitions focused on accounting, economics, entrepreneurship, ethics, professional selling, finance and strategic management. Many of our classes now include service learning projects or consulting projects with local businesses. And, we have hired many outstanding new faculty members. All of these successes have redefined the Martha and Spencer Love School of Business, both on campus and in the community.
I can’t say enough good things about our alumni. From the first week I arrived on campus and steadily since, alumni have reached out to the LSB and asked how they can help. Thanks to their support, students have found internships as well as jobs after graduation, visited Wall Street firms, dined with executives and learned about networking. Alumni are increasingly stepping up to the plate and opening doors to their companies for us, serving on our Board of Advisors or spending time with us in our Executive-in-Residence program. Also, annual giving to the LSB has increased substantially thanks to their participation.
Are there programs in the School of Business you are particularly proud of?
Every program in the school has begun to build a national reputation, and that is very exciting. Our Doherty Center for Entrepreneurial Leadership and Chandler Family Professional Sales Center are two of our premier programs. The entrepreneurship program recently received recognition by Bloomberg Businessweek as the 19th ranked program in the nation. Students regularly win or place in the top ranks at professional sales competitions, resulting in employers such as Dell and ADP signing on as corporate sponsors of the sales center. Our finance and accounting programs continue to get stronger. The economics program is a model of how to involve students in undergraduate research, positioning students for top graduate programs and excellent employer placements. And, our MBA program continues to be a star, regularly receiving national recognition.
[ 14 ]
What do you see as the biggest challenges facing business schools today?
I think there are two. First, we have to keep focused on creating future business professionals and leaders in our graduate and undergraduate programs who understand what it means to have integrity and who appreciate the importance of corporate social responsibility. Second, we have to make sure we don’t let rankings drive us down paths that are not value-added. When I came to Elon, I told the faculty and the Board of Advisors that our focus would be on doing the right things for our students and the rankings would follow. We have seen that happen. What are your plans now?
After 30 years in higher education, I am going to have my first sabbatical! I plan to use my time to finish some research projects and start new ones, as well as move forward with some consulting projects and work I am doing on a number of boards. I also want to learn how to use technology more creatively and effectively in the classroom. I love teaching and believe my time in administration provides new insights that will inform how I approach teaching. Having the chance to be in the classroom more often was a major driver for my decision to transition to the faculty.
Dean’s Awards 2010-11 The following faculty and staff members were honored for their service during the LSB annual awards ceremony in April.
Kevin O’Mara, Ph.D., professor of management, received the Dean’s Award for Excellence in Teaching. O’Mara teaches cours-
es at all levels—undergraduate, graduate and executive education—and is well known for introducing pedagogical innovation throughout these courses. With a commitment to innovation and transformation, he has been heavily involved in the design and delivery of several study abroad courses. O’Mara has also spent numerous hours mentoring students and guiding them in their preparation to win case competitions, such as the Eller Ethics Case Competition.
Michael Rodriguez, Ph.D., assistant professor of marketing, received the Dean’s Award for Scholarship. Some of Rodri-
guez’s accomplishments during this academic year include publishing three research articles and conducting presentations at two conferences. Former Dean Mary Gowan noted that this record is impressive but especially so for a relatively new scholar who is also outstanding in the classroom and in his service activities. Rodriguez’s ability to link his scholarship interests with his teaching interests and then use the knowledge gained to mentor students exemplifies the Elon teacher-scholar-mentor model.
Linda Lashendock, manager of video services and event production, received the Dean’s Award for Exemplary Service-External. This award recognizes
a member of the larger university community who has contributed in meaningful ways to the ongoing welfare and betterment of the LSB. Lashendock attended numerous meetings, spent hours negotiating
with vendors and managed a team of technical support staff seamlessly to put together an amazing video celebrating the LSB’s 25th anniversary. Everyone who worked with Lashendock on the project had nothing but the highest compliments for her, including calling her the consummate professional and a delight to work with.
Tom Tiemann, Ph.D., Jefferson Pilot Professor of Economics, and Sharon Hodge, Ph.D., chair of the marketing and entrepreneurship department and associate professor of marketing, each received the Dean’s Award for Exemplary Service-Faculty. Tiemann led the LSB’s initiative to create the dual
degree program with the European School of Business at Reutlingen University in Germany, and is working on a similar relationship with the Reims Management School in France. He has served on several committees working to identify ways to engage more students and faculty in international activities that will help the LSB fulfill its goal of creating local and global citizens and the university’s commitment to greater diversity and internationalization. Hodge spearheaded the planning and production of the LSB’s most memorable event—its 25th anniversary gala. Additionally, she maintained her duties as a department chair, mentored student research projects, involved her classes in service learning activities and conducted her own research. Her leadership and willingness to volunteer her time embodies Elon’s servant-leadership model.
[ 15 ]
New Faculty 2010-11 Haya Ajjan, assistant professor of management information systems,
received a Ph.D. in information technology, an MBA with an information technology concentration and bachelor’s degrees in management information systems and industrial operations from the University of North Carolina at Charlotte. Ajjan’s research interests include evaluating and managing information technology adoption, its use and its impact on performance. Steven Bednar, assistant professor of economics, received a Ph.D. and a mas-
ter’s degree in economics from Yale
University. He also holds bachelor’s degrees in economics and applied mathematics from the University of California-Berkeley. His research focuses on public economics and political economy. Yilun Shi, assistant professor of finance,
received a Ph.D. in finance from the University of Texas at San Antonio, a master’s degree in finance from the University of Illinois at UrbanaChampaign and a bachelor’s degree in accounting from Shanghai University of Finance and Economics. Prior to joining Elon, Shi was an instructor of finance at St.
Edwards University. His areas of research include corporate finance, international finance and investments. Gary Tsarsis, director of the William G. Reed Finance Center and lecturer of finance, received a master’s degree in busi-
ness with a finance concentration from the University of Miami and bachelor’s degrees in economics and political science from New York University. Tsarsis’ work experience includes being an instructor at New York University and the University of South Carolina at Beaufort, as well as serving as senior vice president of international equity trading at Jeffries and Company and managing director at ING Financial. His research interests include trading, market efficiency, consumer behavior and global markets.
Be an active member of the Love School of Business Alumni Network! Keep Elon strong by being: A lifelong partner with Elon, staying connected, informed and involved. Attend Homecoming 2011, Oct. 21-23. Be sure to join us for a 25th anniversary celebration of the LSB on Oct. 21. Keep up with school news by “liking” the Martha and Spencer Love School of Business page on Facebook (facebook.com/elonbusiness).
“I learned so much as a business administration major from the LSB faculty and from my experience as a Business Fellow. I give back to the LSB to help the school continue to provide opportunities for its students.”
— Courtney Grill Buckley ’07 Marketing Coordinator at Shen Milsom & Wilke LLC
A lifelong advocate for Elon, sharing Elon’s story with others. Connect Elon to internship and job opportunities with your employer or your network.
A lifelong investor in Elon, supporting your alma mater on an annual basis and through estate plans.
For more information on Elon’s efforts to build a vibrant alumni network and how you can get involved, visit elon.edu/alumni or contact Director of Alumni Engagement Sallie Hutton ‘92 at shutton2@elon.edu.
Support Elon at whatever amount you can and designate your gift to the Love School of Business.
Also, don’t forget to turn yourself in online for The Magazine of Elon at elon.edu/classnotes.
[ 16 ]
Board of Advisors 2010-11 William S. Creekmuir P’09 P’10, Chair of the Board of Advisors
James A. Moncure II IBM
W. Thomas Amick ’69 P’13 Discovery Laboratories Inc.
Louis M. “Mike” Ricco ’85 La-Z-Boy Incorporated
Samuel L. Burke ’89 PricewaterhouseCoopers LLP
J. Karl Sherrill, Jr. G’08 Senn Dunn Insurance
Britt W. Carter Fleishman-Hillard Inc.
Jay B. Shipowitz P’12 Ace Cash Express
Charles R. Clohan ’98 Dittmar Company
John H. Slayton The Trust Company of The South
John G. Currin, Jr. Alamance Regional Medical Center
Bernadette M. Spong ’78 G’07 P’09 P’10 Rex Healthcare
Donald A. Dibble Lincoln Financial Group John S. Gaither P’09 Reichhold Inc. Donald S. Galante P’08 Gala Capital Management Michael T. Gannaway P’01 VF Corporation Dr. Richard Green USC Lusk Center for Real Estate Charles D. Greene AT&T North Carolina Captain Thomas J. Harper (Retired) William B. “Brad” Hayes LabCorp
Derek B. Steed Wishart Norris Henninger & Pittman David A. Stevens ’81 SunTrust Bank Peter L. Tourtellot Anderson Bauman Tourtellot Vos Linda T. Weavil Elon University Mark R. White P’13 SAP America Mac Williams Alamance County Area Chamber of Commerce Elmer D. “Eddie” Yost Prudential Yost & Little Realty Inc.
Doherty Center for Entrepreneurial Leadership Advisory Board W. Thomas Amick ‘69 P’13, Advisory Board Chair Discovery Laboratories Inc. Raj Ananthanpillai P’11 InfoZen Inc. Greg Chabon Womble Carlyle Sandridge & Rice PLLC Ed Doherty P’07 Doherty Enterprises Joan Doherty P’07 Doherty Enterprises Mitch Javidi NanoPhrades John R. Maynard Tarheel Research Ltd.
Frank S. Holt III Holt Sublimation Printing and Products Co.
Chandler Family Professional Sales Center Advisory Board
Nicholas Igdalsky ’99 Mattco, Inc. / Pocono Raceway
Traci Butler G’96 LabCorp
Robert R. Lane ’71 P’99 Lane Leadership LLC
Bob Chandler Chandler Concrete
Jeffrey W. LeRose Research Triangle Software Inc.
Michael T. Gannaway P’01 VF Corporation
John R. Maynard Tarheel Research Ltd.
Kevin Kelly P’11 UBS
Thomas D. McGowen, Jr. Stout Stuart McGowen & King LLP
James McCarthy ’95 G’04 British Telecom
James Mitchell IV, Advisory Board Chair Smith Leonard
Judy C. Miller RSVP Communications Inc.
J. Karl Sherrill, Jr. G’08 Senn Dunn Insurance
Linda Aldridge ‘87 Stout Stuart McGowen & King LLP
John T. Mollen P’12 EMC Corporation
Duffie McKee Community One Bank Joan Seifert Rose Council for Entrepreneurial Development
Department of Accounting Advisory Board
Michele Cash ‘84 Blue Cross Blue Shield of North Carolina
Ed Dodson LabCorp Susan Ezekiel Cobb Ezekiel Loy & Co. PA David Johnson P’89 P’91 Apple, Bell, Johnson & Co. PA Jonathan Kraftchick Cherry, Bekaert & Holland LLP Karla D. Munden Lincoln Financial Group Phil Petros PricewaterhouseCoopers LLP Ryan Rate ‘06 PricewaterhouseCoopers LLP Hugh Reynolds P’04 Crowe Horwath LLP Jon Scrimshaw ‘01 IBM Rhonda Skiles Bernard Robinson & Co. LLP Gary Smith Glen Raven Mills C. Thomas Steele, Jr. Wishart Norris Henninger & Pittman P.A. Ted Szott Cogent Communications Bill Wilkinson ‘85 Gilliam Coble & Moser
Nonprofit organization US postage PAID Permit No. 1 Elon, NC
Post Office Box 398 Elon, North Carolina 27244 336-278-6000 elon.edu/elonbusiness
Homecoming Weekend Oct. 21-23, 2011
lon 1-23 E : n o i t Destina 2011 / oct. 2 oming
homec
Please join LSB faculty, staff and students on Homecoming Weekend to celebrate the Love School of Business’ successes over the past 25 years. Friday, Oct. 21 4:45 p.m. Martha and Spencer Love School of Business Alumni Panel Discussion LaRose Digital Theatre, Koury Business Center 6:15 p.m. LSB Silver Anniversary Reception Burbridge Atrium, Koury Business Center
Visit elon.edu/homecoming to preregister and for a full schedule of Homecoming events.