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Standards of Practice
12 The Emerging NextGeneration Workforce
Tomorrow’s Leaders
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Don’t lecture me!
How Lipscomb professors are
and success philosophies
16 Like. Comment. Share.
changing the way they teach
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Millennials are reshaping work
12
Among social media outlets, Facebook influences the
Of Scholarship and Valor
workplace
10 Don’t fall for the American Dream Retirement Myth
Leading Innovations
Worldview
18 Silver Tsunami
27 Generation Next
An aging American workforce gives rise to new
revoluntionizing 21st century
business opportunities
competition
21 Second Chances
Lipscomb’s LIFE program is
30 Business Hero: An Oxymoron?
making a difference
ethical foundation
Lipscomb’s Shannon Terry aims at ESPN
26 Lipscomb’s expansion to Cool Springs
Dean Turney Stevens explains
What’s Happening
36 All Together Now
33 Loving Hearts, Big World
Healing Hands International combines learning and service for worldwide good
Corporate partnerships are on the rise for Lipscomb
how to build success atop an
24 Still Courting Success
38
How Asian workers are
38 Lipscomb Power Breakfast
Power up with Lipscomb’s business breakfast
40 The Next New Thing At Lipscomb
Summer/Fall 2012 615.966.5345 or 800.333.4358 business.lipscomb.edu Dean Turney Stevens
Around the College
42 Teacher. Counselor. Mentor. Friend. 42
Dr. Axel Swang Turns 90
43 Mile 7
Reminders of the supportive Lipscomb community
44 Goodman, Costello Named As Executives In Residence
Beating The Market
45 Students in Free Enterprise
Lipscomb students become future business leaders of America
45 Patrick Chaffin Alum of the Year
Gaylord Entertainment executive Chaffin named 2011 Young Alumnus of the Year
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SENIOR ASSOCIATE DEAN Ray Eldridge LEADERSHIP TEAM Mike Kendrick John Lowry Charles Frasier Andrew Borchers Lisa Shacklett John Crawford Publisher Glover Group Entertainment, Inc. Editor-in-Chief Gary Glover Senior Copy Editor Greg Rumberg Project Manager Matthew Glover Art Director Anthony Matula GRAPHIC Designer Bret D. Haines/BaaHaus Design Contributing Writers Dolly Carlisle, Allison Duke, Charles Frasier, Jeff Jewell, Laurie Kush Charla Long, Leston McArthur, Larry Nager, Sherry Stinson, Barry Stowe, Ashlan Williams, Laura Williams Photography Ashley Hylbert/AH Photography Featured Students on Cover Caleb Pritchett Leslie Marberry Cover Design Anthony Matula
News and Events
46 YouTube as Textbook? Don’t Laugh
Cover Photography Ashley Hylbert Special thanks to
The College of Business prepares to enter the new digital era
48 Business with a Purpose
46
Avenue Bank CEO honored with Dean Institute Leadership and Integrity Award
48 Hang Seng Management College
College of Business Announces China Partner University Agreement
Want to know how you can give to the College of Business? Contact Randy Bostic, Director of Development for the College of Business, at 615.966.5273 or 800.333.4358 extension 5273. You can also give online by visiting business.lipscomb.edu.
Preparing for tomorrow today I was an investment banker for 35 years before I became a dean. My specific type of investment banking was to raise equity and debt capital for private companies, many of them new. Over the years, I lost track of how many business plans I read. It had to be in the hundreds each year. One of the things I learned to do, in addition to sizing up the plan and the management team behind the plan, was to size up the industry in which the company proposed to compete. Even the best idea could only thrive in a growing industry. So, now as a dean, I am interested in higher education as an industry. Specifically, I’m interested in business schools and their futures. I predict that the future will be very different from the past— or even from the present. I’m certainly not alone in this, although my ideas may be a bit more radical than some. Here are two of my predictions for the future of business schools, generally, and for the future of the College of Business at Lipscomb University, specifically. • The typical student will be very different. It wasn’t so many years ago that every student at Lipscomb was between 18 and 22 years old and, frankly, most were Caucasian. Today the university has more than 1,300 graduate students, in addition to our more traditional undergrads. We have students of many racial types, age groups and religious faiths. In addition to “adult” graduate students, most of whom work while advancing their educations, we have many adult undergraduate students who are seeking to complete or to obtain their undergraduate degrees many years after their peers completed theirs. These demographics present some challenges—but more opportunities. The variety of actual experiences these students bring to the classroom enhances learning for all. Our Yellow Ribbon students (veterans returning to school following military duty in either Iraq or Afghanistan) especially enrich our discussions. But what about future students in our industry? If we think we have diversity today, just wait until the future arrives. Age, especially, will be a major change, if my guess is correct. In the future, I predict we will see many students in their 50s and even in their 60s. I predict we will see people pursuing second and third graduate degrees. I predict we will see many career changers asking for specialized training, not necessarily tied to a degree program. I predict that our classrooms will be filled with students of many colors and many nationalities. Our faculty will have to reflect that racial and age diversity, as well.
• Delivery methods will be very different. In the past, learning occurred by having a “learned” professor stand before a room of students, share his or her knowledge, perhaps have some discussion time, then assign reading and other homework to be done outside the classroom before the next class meeting when the whole process was repeated. Today, learning occurs very differently. We still have professors who share their knowledge but, in an age when any single item of information is instantly available online, the professors are challenged to be current and relevant as never before. And, frankly, they are challenged to be interesting. Grad classes typically run for four hours or more and this format requires a variety of classroom delivery methods to retain interest and to enhance learning. One of the biggest changes in recent years has been the research that’s been done about experiential learning. This is a broad term that encompasses everything from team assignments to internships. Regardless of the specific method, virtually all of the research indicates that learning is enhanced when hands-on experiences supplement lectures and listening. So our classes and classrooms have had to change. Some rooms are now equipped with team discussion spaces instead of traditional student chairs. These rooms are also equipped with the latest in audio/visual and technology equipment. Add off campus programs like our internship opportunity in Hong Kong and it’s clear today’s learning is occurring differently. Ways of learning tomorrow promise more change. When I arrived as dean four years ago, I asked our staff to prepare a competitor map. We learned that we were competing with more than 20 other MBA programs delivered in Nashville. Today, just a few years later, I’m not sure we could even prepare such a map. Not only do we compete with all of these other classroom-based programs in Nashville, we increasingly compete with online programs available to students from institutions located all over the world. And it’s not just “Make-A-Buck University” offering these. It’s the nation’s—and the world’s—most prestigious institutions. A student in Nashville can enroll in the MBA online program at the University of North Carolina-Chapel Hill, for example. Not exactly a bad choice, if you’re looking for a brand name institution. We have to be good, really good, to compete. And we are. What does our future hold? We will compete online, too. We will deliver learning from classrooms in Asia, Europe and Latin America through partnerships and programs we are developing. We will modernize our Swang Center and its classrooms with the latest in technology and learning equipment. We will lead, not follow. Why do I share all of this? Because we need your help.
In addition to leading through enhanced academics and through addressing the needs of increasingly diverse student populations, we must lead through development. We must enlist your assistance (translation: “cash”) and your input (translation: “input”). And we must do this while retaining the commitment that Lipscomb has had without wavering since 1891: To instill in our students the highest level of academic excellence and to challenge our students to commit to a lifetime of the highest moral standards and integrity. Our president, Dr. L. Randolph Lowry, says it best: “We will be purposely and courageously Christian but we will be graciously Christian.” What a beautiful way to say we will be true to our heritage while also addressing changing students, changing methods and a changing world, all in the context of respect for all from a distinctively Christ-centered worldview. I hope you enjoy this second edition of Lipscomb Business magazine. It’s designed to share with you our changing world and our challenging opportunities. Perhaps our ambition is too modest. We only seek to achieve status as a Five-Star College of Business during our five-year plan. All we aspire to do is to become the best Christian College of Business in America. Will you help us?
Turney Stevens (‘72) Dean, College of Business Lipscomb University
All gifts are tax-deductible. 2
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the research component that we haven’t in the past while still maintaining and creating
Dr. Allison Duke (’02), Lipscomb’s master of human resources director, and Dr. Laura Williams (’00, MBA ’02), assistant professor of management at Lipscomb.
Don’t lecture me! How Lipscomb professors are changing the way they teach By Dolly Carlisle
merican universities have a two-fold problem. Teaching the old fashioned way—standing in front of students and giving a lecture—isn’t good enough anymore. Further, greater preparedness is being demanded by potential employers from university graduates. In 2007, Derek Bok, former president of Harvard University, published a sobering book titled Our Underachieving Colleges: A Candid Look at How Much Students Learn and Why They Should Be Learning More. In it he warns that university professors and instructors must change the way they teach and what they teach. Otherwise, “Colleges
China during the previous two years, an effort that’s part of the new international focus initiated by the College of Business. “Being competitive involves more effort than it did when I was entering the workforce, and I felt like it was a challenge then. But after going to China and experiencing the reality of what we’re up against in emerging markets, I have a real sense of urgency to provide a more substantive experience for our students.”
Reemphasizing research To graduate competitive students, Lipscomb’s
approach, Duke and Williams are creating
Allison Duke, Lipscomb’s master of human
lesson plans that give their students experi-
resources director. Research and teaching
ential learning opportunities. This teaching
will work hand in hand. “For example, based
modality requires more of the professor, as
on our research, we’ve learned that managers
well as the student. “My job in the classroom
make decisions based on what they think has
is to take what they’ve read before they get
worked in the past, like using incentives to
here and do something with it,” Duke says.
motivate people. If you look at the research,
Professors are challenged to make the infor-
however, incentives don’t motivate people.
mation that the students have read (assuming
says Turney Stevens, dean of the
But we spend billions of dollars in this
that they’ve read it) applicable.
College of Business. “It’s not a
country on incentives and bonus plans. We’re
Lipscomb’s MBA students are now required to complete a course in a foreign country—China, India or Europe. Most business schools offer a global trip as an elective.
“It drives me crazy to sit within the four
“I’m really committed to this,”
sight-seeing trip. We’ll be going to Prudential in China and spend-
tools.” In turn, Duke is using her research to
prefers to take her classes on field trips. For
ing the day seeing how they sell
challenge her students to be open to thinking
example, when her students were recently
differently.
studying the company Urban Outfitters, she
“They need to understand the process of
ordered the use of the university bus and took
mutual funds and insurance in 12 countries throughout Asia.” Next year, students will also have the choice of completing their project
how you get new information when you need
the students to the downtown Nashville store.
it because it’s always changing,” she says, with
There she encouraged students to interview
a gesture toward her bookcase of books. “In
employees and staff. “I see our role [of profes-
five years, these textbooks will change as a
a new global MBA degree that will
sor] as more of a mentoring relationship. Our
meet around the world, in addi-
result of new research that says what we know
role is much more about helping the student
tion to the Lipscomb campus.
now may or may not be exactly accurate.”
to think critically and to evaluate situations
Stevens explains, “We’re trying to
rather than just delivering content.”
say, ‘We may be in Nashville, but
The challenge for professors like Duke, however, is that students don’t always
in Latin America. Future plans may also include
our students are going to have a
Describing her teaching philosophy
appreciate the reality of the new business
these days, Williams chooses the words
worldwide perspective and a global
world. Both she and Williams observe that
of Clay Bedford, who was a top executive
understanding of business as good
all too often college is viewed as “the new
of Kaiser Industries: “You can teach a
high school.” Students may arrive at col-
student a lesson for a day, but if you
leges and universities, including Lipscomb,
can teach him to learn by creating
merely wanting to get through the experience
curiosity, he will continue the learn-
without becoming engaged and making the
ing process as long as he lives,” Wil-
extra effort.
liams recites. “As faculty we are charged with equipping students to meet the new demands of the 21st century workforce,” Duke says. “We teach students job knowledge content, but more importantly, we teach them to be continuous learners who can easily adapt to the inevitable changes in the global business landscape.”
“They get frustrated with me because I’m not giving them what they need, but I tell them that this is not a situation where
challenged to place a greater emphasis on
the customer [the student] is always right,”
research. Professors will not only stay abreast of
Williams says. “They’ve hired me to get them
not be able to compete successfully in the 21st
the changing world, but they will know how to
where they need to be. I know when they get
century work place.
adjust their pedagogy accordingly.
out of here they need to have the skills to be
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To compete in a global economy,
walls of a classroom,” Duke continues. She
more than they did 50 years ago,” Bok posits.
“What Lipscomb is trying to do is emphasize
Global Positioning
trying to motivate people with the wrong
College of Business faculty members have been
“Students must be competitive,” says Laura
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at Lipscomb. She’s spent nearly two months in
As a result of their new teaching
more innovation in the classroom,” says Dr.
cannot be confident that students are learning In short, many students graduating today may
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Williams, an assistant professor of management
Creating curiosity
successful.”
as any other school.’”
—D.C.
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“All of us are indebted to our veterans,”
said General Tommy Franks when he visited Lipscomb’s Yellow Ribbon program. ‘A veteran is someone who has signed their name on a blank check, payable to the United States of America for an amount up to and including their life.’ Lipscomb is very grateful for the commitment these men and women have made and their willingness to pay the ultimate price to defend our freedom and to protect our land.
General Tommy Franks
Staff SGT Samuel Schoenheit, USMC, and his mother Diane DeBruhl. Sam was wounded in the head during a fire fight in Afghanistan on June 26, 2008. Sam and MARSOC (Marine Special Operations Command) were on a mission to locate a high value target in the mountains of Afghanistan. Sam is a recipient of the Charlie Daniels Scholarship for Heroes Award.
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They hang out in April Herrington’s office—Sam, John, Jacynda, Jay, Skip, Josh, Marc and others. Herrington is the Veterans Administration certifying official in Lipscomb’s Veterans Services Office, and the small room that is April’s office is more than a gathering place for veteran students. It is a refuge. “When it gets to be too much, they can go there and hang out for awhile,” says Jim Humphrey, Lipscomb’s director of veterans services. “Then, when they get centered again, they go back out into the general population until they have to come back.” Their conversation is unconventional and, whether they served in the Army, Air Force, Navy or Marines, these students don’t have to explain themselves in this room. On the day of this reporter’s visit, one of the more curious topics was that of stays—a Y-type shirt stay that features a single clip attaching to the tops of socks and a double clip that attaches to a shirt tail. They compare, too, where they underwent basic training—Fort Riley, Fort Campbell or Fort Jackson. They recall times when they ran out of cigarettes and coffee while on a mission. As some talk, individuals stick a hand into a large glass jar on Herrington’s desk that contains hundreds of gummy rabbits. The candy is a shared treat among comrades. One vet recalls how soldiers sarcastically yelped, “We’re in Disneyland!” as their plane hit the tar-
mac in Afghanistan. “It wasn’t Disneyland,” the veteran remarks solemnly. The 150 or so veteran students on Lipscomb’s campus belong to a special club. Not that they are trying to stand apart or be different; it’s just that their common experience separates them from the rest of the students. There is a sad knowing that hangs over them like a cloud. They share unspoken tragedies, harsh environments and loss of innocence. Now they are trying to get on with their lives and are grateful to have found this room as the place where they can make their transition from military to civilian life. Herrington’s office could be a metaphor for Lipscomb University’s open arms toward the nation’s returning veterans. “We all know that freedom isn’t free, but Lipscomb believes that the soldiers’ education should be,” Herrington says. She is a veteran who graduated from Lipscomb in 2011 and is a comforting presence for the current flock of ex-military students. “After you get out [of military], you look for other veterans,” she says. “A lot of times, it’s hard to interact with civilian personnel. When I came here, I was a little older than a traditional student. I didn’t really feel like I fit in. I was married and pregnant. You don’t really have a whole lot in common with [traditional] students, except maybe that we have the same major or the same class.”
A veterans student group (Campus Veterans Organization or CVO) affords students the opportunity to meet fellow veterans on campus and provides recreational and educational activities.
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Boots on the campus’ ground
Celebrities boost support for Veterans and the Charlie Daniels Scholarship for Heroes Fund Lipscomb University cannot offer a tuition-free education to returning veterans without public support. One way to lend a hand is to donate to Lipscomb’s Charlie Daniels Scholarship fund to benefit the Yellow Ribbon Program. The Charlie Daniels Scholarship for Heroes Tour, held at Lipscomb University’s Allen Arena every year in March, stands as Lipscomb’s major fundraising event for the Yellow Ribbon program. From its inception in 2010, country music legend Charlie Daniels has lent his name to the event, and he’s called friends like General Tommy Franks to fly in to lend their personal support. “Being involved in the Lipscomb Yellow Ribbon program was a no brainer for me,” Daniels says. “As a lifelong patriot who feels deeply indebted to the military for the freedom I’ve enjoyed all my life, I am humbly honored to have my name associated with such a noble cause.” Over the years, the event has featured a range of celebrity performers, including Daniels, plus Kix Brooks (Brooks & Dunn), Rascal Flatts, Amy Grant, Larry Gatlin, Wynonna, Chris Young and Darryl Worley. Gary Sinise, star of the popular television series “CSI: New York,” showed his support this year by playing bass with The Charlie Daniels Band. Daniels’ passion for supporting the nation’s veterans is legendary, and the Lipscomb event allows him to acknowledge the military heroes, their families and the mothers who have lost their children to fighting in wars. “I have been and will continue to be active in saying thank you to the men and women who have sacrificed so much to ensure the American way of life for future generations,” Daniels says. “We can never do enough, but we can try, and I want to thank Lipscomb University for providing the opportunity.” —D.C.
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Nationally, Lipscomb University is increasingly being recognized as a leader among educational institutions reaching out to America’s service men and women. G.I. Jobs magazine recently added Lipscomb to its top 20 percent list of the nation’s 8,000 colleges, universities and trade schools as a Military Friendly School. “I can’t begin to say enough good things about Lipscomb University,” says David Corlew, the manager of country star Charlie Daniels and an advocate for veterans. “I had never been on the campus until three years ago. They have been so supportive. [Lipscomb President] Dr. Randy Lowry and [Vice President for University Relations] Walt Leaver have a vision. They get it.” The university served as the host campus for Charlie Daniels Scholarship for Heroes Tour in March. “For decades, the GI bill, which provides a college education at a public institution, has been a great benefit for returning veterans,” Lowry continues. “Three years ago, when the Veterans Administration added the Yellow Ribbon Amendment and offered additional support to those wanting to attend a private university, Lipscomb was glad to participate. We are honored to be full partners with the VA, providing a tuitionfree college education to qualified veterans.” Of the 150 on-campus veterans, there are 130 students who are enrolled as a part of the Yellow Ribbon program. There are plans to double that population, even though the cost to the university is about $7,000 per student, per year. To date, Lipscomb hasn’t put a cap on either the number of veterans that the school admits or the tuition assistance. “I had no idea that I was going to be able to walk in the door,” recalls Jonathan Didato (’14), who is a sophomore pursuing a general business degree. “I came here first and applied thinking that I was going to be in an acceptance phase. But after filling out the paperwork, I asked, ‘When do I find out if I can go here?’ I was told
that Lipscomb doesn’t deny veterans, that veterans were always accepted. I didn’t see the need to go anywhere else.” Chaz Chambers (’12), who is getting an MBA at Lipscomb’s College of Business, had a similar experience. He called and applied while still serving in Afghanistan and was immediately accepted. Chambers is scheduled to graduate in the spring but has already landed a job as a risk process manager. “I got this job because I’m getting my MBA,” says Chambers. “When you get out of the service, there are only about two jobs that you can go out and get,” continues Didato, with a chuckle. “That’s either law enforcement or a janitor because you get really good at cleaning floors in the service. My hope is to be financially secure. I didn’t know if those jobs put my best skills to work. Because of the military, I have a mindset to get the job done. I didn’t want to just sit back and relax. I know how to push through stuff. Even when classes get hard, I’m going to strive for the highest grade that I can possibly get. Veterans will push through anything.”
Differently prepared Many of us don’t realize that these young people didn’t necessarily join the military to fight. “It’s very seldom that you find anybody in the military who wants to go to war,” explains Humphrey. “That is not what we are about. Sometimes we have to articulate to those who have a different background that we aren’t really that much different from them.” But in significant ways, the returning vets are different. “What does make them different, is that they signed on the dotted line,” Corlew points out. “They made a commitment, even if it meant giving up their lives. When was the last time any of the rest of us took three years of our lives to go do something for others? That’s a special club. Some pay the supreme price. For those who do make it
back, Lipscomb is saying, ‘We want to be one of the first ones to hold out our hand.’” The veteran’s return is not an easy one. After all the effort, determination and will power that it took for them to learn to live within a military environment, they are now challenged to re-create themselves. “We’ve got to help process these kids back into civilization,” Corlew says. “We have the opportunity to take away the fear of what the rest of their lives will be like.” Many veterans have special needs. Some suffer from post-tramatic stress disorder and others have physical injuries. One of the Lipscomb veterans returned after being shot in the head. Three years ago, he couldn’t talk, walk or eat. Now he is a thriving student with a 3.8 grade point average. “It’s important to get our veteran students as integrated as soon as possible into the mainstream population,” Humphrey says. “We need to provide them with whatever service they need in order to make that transition.” According to Humphrey, the university has achieved impressive results with a mentoring program in which a sophomore or junior veteran student will connect with a freshman. For the veteran students who have more acute issues like post-traumatic stress disorder or traumatic brain injury symptoms, Humphrey says, “There’s a need for other services that the campus has been so gracious to provide, like counseling services.” He continues, “All of these things have to be addressed and supported with an infrastructure to do it.” One of Lowry’s goals at Lipscomb is to have diversity on campus. The veterans help provide that. They are mature, task-driven, disciplined and determined students. The veteran students have been known to bring a broader perspective to a classroom. “I have all 8 a.m. and 9 a.m. classes this semester,” Didato says. “When I walk in there and the kids are saying, ‘Oh, I hate these early classes,’ I’m like, ‘Come on, it’s 8 a.m.; you live on campus. There’s nothing to complain about.’”
Of the 150 on-campus veterans, there are 130 students who are enrolled as a part of the Yellow Ribbon program. There are plans to double that population, even though the cost to the university is about $7,000 per student, per year.
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Don’t fall for the
American Dream Retirement
Myth By Laurie Kush (’11)
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t first blush, most HR professionals would hold to the notion that older workers (age 50+) cost more: they are not as productive since they are ending their careers soon. We assume that they are not in good health, are absent more and are not as sharp as their younger co-workers. Of course no one is admitting this, since it is blatantly against the law to say it. But, some of us think it, don’t we? According to research done by Peter Cappelli at Wharton (Knowledge@Wharton, 2010), these notions are nothing but myths. The reality is that older workers take fewer sick days than their younger co-workers, and their health care costs are actually lower. Most no longer have dependent children on their health care plans, and once Medicare begins at age 65, an employer’s health care costs will decrease even more. Mature workers frequently outperform their younger colleagues as well. They have “less absenteeism, less turnover, superior interpersonal skills and deal better with customers,” according to the report. Betsy came to my office two-and-a-half years ago to interview for volunteer placement at our outpatient medical center. She was discouraged and upset with herself for buying into what she called the American Dream retirement scam. She was intelligent, articulate, feisty, in great shape from working out five days a week, and had over 30 years experience as a nurse—the last 10 were as a nurse practitioner. She had left a nursing job in California on good terms, with a great send off by her community of coworkers. Her family flew in from out of state to attend the retirement party. Five years had passed since that day and Betsy, now in Nashville to be with her daughter’s family and new grandchild, was done with meaningless leisure activities that underutilized her wisdom and talents. She wanted to be back with a workforce community as a productive contributor
and earn a supplemental income. No one anticipated the effects of too much time post-retirement. The word is out, though, and boomers are electing to stay in a workforce that fits active, healthy, experienced employees. Some retirement delay is money motivated, but my interviews have revealed that retiring boomers are facing an identity crisis. Men and women of this age bracket have defined themselves by their work, and absent work, they seek to re-engage or face isolation from a community of coworkers/friends. The emerging issue is that we as human resource professionals must take a hard look at our own HR practices and perceptions towards a maturing workforce. We must evolve to optimize the largest single line item in our organization’s budget: human capital. Is your diversity department including a mature workforce focus area? Are you an early adopter? A study by Towers Perrin in 2005 suggested that “what has been missing until now is a thorough examination of the recruitment and retention of workers age 50+ within a business case framework.” The data indicates that replacing an experienced worker of any age can cost 50 percent or more of the individual’s annual salary in turnover-related costs, and the cost is even higher in jobs requiring specialized skills, advanced training, extensive experience and knowledge— often possessed by 50+ employees. Additionally, the benefits of a stable workforce and avoiding turnover cost can exceed the incremental compensation and benefit cost for a 50+ worker. The study found that the added compensation and benefits cost was only marginally higher in many
cases. “Thus, the cost of employing workers should be evaluated with actual data and in the context of total labor cost, including the costs of hiring and getting new employees up to speed.” The question for you: Does your organization know that older workers cost more from evidenced based data or is your organization merely assuming that older workers cost more? Herein lies the solution to our dreaded and highly publicized Grey2K corporate brain drain if we are early adopters to the changes necessary to capture the experience dividend. Whether in the context of retaining a larger segment of the 50+ workforce or targeting “additional hiring of 50+ workers, the comparative cost differences are balanced—if not outweighed—by other factors.”
Laurie Kush is a 2011 graduate of Lipscomb’s master of human resources program. Read more about managing a mature workforce by going to Kush’s blog at http://www.myrewirement.org/.
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Seeking personal mission and happiness, Millennials are reshaping work and success philosophies from the Lipscomb campus to the boardroom.
second is they want to be valued, and not always with ncertainty” remains one of the eternal truths of money and bonuses. Am I rewarded for when I do great business. Not just in taxes, regulations or global work? Do I have mentorship and guidance because the markets, but in understanding the workforce itself. people here value me? While hard data is available, workers are more than demographics. With the generational shift to “Millennials,” or Generation Y, born after 1980, we’re seeing a change in values and ways of expressing those values. Understanding those changes requires wide-ranging study, encompassing social sciences as well as economics. That study’s well suited to the Lipscomb University faculty’s multi-disciplinary approach in training the next generation to be part of that changing workforce—and to Today’s young workers oversee it—even as Millennials quesare following a different tion their parents’ career paths and work-life paradigms. American D.R.E.A.M.— “First and foremost, they are “desired relationships, not so much looking for work-life employment and money.” balance as they are looking for their life’s work,” says author —Jullien Gordon Jullien Gordon, a member of and authority on Millennials. “They saw what their parents’ generation went through, and they saw divorce rates skyrocket as a result of putting work before life and family. They saw health problems that resulted. We saw a broken vision of the American dream.” Based in Brooklyn, Gordon has written five books on next-generation workforce issues and speaks to corporations and universities. He says today’s young workers are following a different American D.R.E.A.M., his acronym for “desired relationships, employment and money.” “They’re looking for three things,” Gordon explains. “One: Do I have the opportunity to create value and solve meaningful problems in my role, or am I just paper pushing? The
By Larry Nager
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“Thirdly, is this work compromising my values or am I allowed to bring my full self—my spiritual self, my professional self, my personal self, my creative self, my humorous self—am I able to bring all of that into the workplace and actually contribute all of myself to my employer? “So it’s creating value, being valued and then doing work that aligns with [personal] values,” Gordon says.
Tales from three executives Executives from three Middle Tennessee companies have seen that in action. Larry Burkhart, vice president of human resources for Hospital Corporation of America (HCA)—the Nashvillebased company that runs 163 hospitals
“What better way to be a missionary and really deliver something valuable?” —Larry Burkhart, HCA
and 109 surgery centers throughout the United States and England—has noted those trends. He’s in charge of HCA’s central division, overseeing 80,000 employees at 55 hospitals, plus outpatient services, surgery centers and imaging centers. He also has personal experience with Generation Y with three daughters, ages 24, 20 and 15. The eldest is a nurse; his middle daughter is in pre-nursing. “I think there is a generational thing about doing work where your heart is, doing what you want to do and finding someone to pay you for it,” Burkhart says. “I think this new generation has a lot of that aspect in them and I think nursing is a real fulfilling way to answer that question. There have been college kids that I’ve talked to, especially from Lipscomb, that have had an extreme interest in missions, and I’ve encouraged them to look into nursing. What better way to be a missionary and really deliver something valuable?” The flexible hours are attractive to Gen Y, and while there’s no longer the universal demand there was during the nursing shortage of a decade ago, Burkhart says health care remains a predictable growth industry. “It can never be exported. And at least during my lifetime, with the aging Baby Boomers, it’s going to grow every year.” Brentwood-based Tractor Supply Company (TSC) is experiencing major growth, recently announcing plans to double its stores to 2,100 nationwide. Donna Daugherty, TSC’s corporate recruiting manager, says she has no trouble filling positions despite the company’s intensive interview process, reflected in the mantra, “Hire hard, manage easy.” “We are very particular about skills and experiences,” she says. “Our focus is finding a star among those applicants.” Along with younger workers, Daugherty says she is seeing “more resumes from industries that have lost steam in the economy—banking, real estate, automotive, among others.” Older workers tend to have a greater desire for job security, she adds, while “younger workers seem to be a little more anxious to make a big impact quickly and be rewarded for it.” Daugherty has found IT workers, notably Java programmers, fit Gen Y models more closely. Having more options, they’re less tied to a job. “In the IT world, Tractor Supply is not that big a deal,” she explains. “We’re competing against Nike, Coca-Cola, all the people in the world looking for Java programmers.” Most programmers are recruited from larger cities. Daugherty says she finds herself selling Nashville along with her company to job candidates. For young, urban programmers, Nashville being home to music innovators like Jack White
and its proximity to Manchester’s hip, eclectic Bonnaroo festival carries more weight than Nashville Symphony or the Grand Ole Opry. “Hip” isn’t part of the Dollar General brand, as the chain’s 9,000-plus stores harken back to simpler times. “We like to call it ‘Today’s General Store,’” says Bob Ravener, Dollar General’s executive vice president and chief people officer. “Dollar General exists in local communities and our workforce is family, friends and neighbors of the people who shop our stores. We still have a sizable percentage of our stores that are in one-stoplight towns. We’re a point of connection in those communities.” The workforce in those 9,000-plus Dollar General stores mirrors that, he says, with Generation Y making up about 39 percent, along with many employees in their 50s and older returning to the workforce. Like HCA’s Burkhart, Ravener has experienced the Millennials through his daughters, ages 25 and 22. “I think the Gen Y community is out there with a different mindset,” Ravener says. “They are working in order to have the money and the time to do what they want to do.” He recalls a saying: “Time is the new money. Happiness is the new success.” To save employees time, services like dry cleaning and on-site daycare are often offered. HCA has extensive health care services, while Tractor Supply uses the buying power of its workforce for discounts on goods and services. But intangibles like happiness and fulfillment are tougher to provide. “They’re looking for a fulfilling job that they are able to grow in,” Burkhart says. “I make a prediction that my kids are going to be the first generation to make less money than their parents because, to them, the money isn’t the No 1 thing. I think their growth is about personal growth.”
“Younger workers seem to be a little more anxious to make a big impact quickly and be rewarded for it.” —Donna Daugherty, Tractor Supply
“Enough” imagination Gordon, the Millennial author, says that’s why so much of his generation is marrying later, having children later, buying homes later. And those changes could have cultural impact far beyond census figures. The values of Millennials’ parents and grandparents, he explains, were shaped by the Great Depression and the fear of never having enough material goods. “We take a different approach,” Gordon says. “We’re holding off on these long-term commitments until we discover and get clear on who we are and what we really want. We’ve started to embrace the value of ‘Enough.’ Our generation is getting clearer on what is ‘Enough.’ Because, when you play the game of ‘More,’ the game of ‘more’ never ends.”
“Time is the new money. Happiness is the new success.” — Bob Ravener, Dollar General
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Like. Comment. Share. Among social media outlets, Facebook influences the workplace.
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ould you give your house keys to a potential employer to inspect your home before you could be hired? That may sound like a far-fetched scenario, but recent headlines have revealed that a number of companies have started asking applicants to log in to their Facebook accounts during job interviews as a contingency for hiring. Some individuals might simply walk out of the interview not wanting to work for an employer that would violate personal privacy in that way. Others cannot afford to risk walking out on a potential job opportunity. Facebook has threatened legal action against
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By Allison Duke (’02)
employers who ask for username and passwords, and senators in several states have begun to address the issue through legislation. Despite these efforts, there continue to be significant gray areas concerning the use of social media in the workplace. According to a recent study by MindFlash.com, 29 percent of employers indicate they use Facebook as part of their candidate screening process (26 percent use LinkedIn, seven percent use Twitter and 11 percent use blogs). Interestingly, 18 percent of those employers discovered Facebook content that reflected positively on the candidate. Of course, it’s not surprising that 35 percent
found content that resulted in the company not hiring a candidate. One of the primary concerns with this practice is that the search may lead to information that cannot be legally obtained through the interview process. For example, employers may notice that a female candidate has joined several groups for expectant mothers. Employers must ensure that any information obtained through a Facebook search focus on a candidate’s ability to perform the job. In a March 2011 Fortune article, Todd Owens, general manager of TalentWise, recommends using third parties to screen candidates online so that only job-relevant information is passed on. He also suggests that employers inform candidates that they will be looking them up on Facebook, and that candidates are given a chance to explain any negative information discovered.
conditions online or in person. The key here is that the employees demonstrate an attempt to elicit group action from fellow employees, not just griping individually, according to PC Magazine’s coverage in September last year. As a result, companies must be careful to avoid broad-brushing social media policies. CFO reported in a September 2011 story, “Companies should inform their employees that they will not be punished for engaging in communication supporting their right to discuss working conditions. The policies should provide examples of the type of ‘inappropriate’ comments the company seeks to discourage.”
Employers use Facebook to discipline current employees as well, which has led to more than 100 complaints with the National Labor Relations Board (NLRB). A BMW salesperson in the Chicago area was terminated after posting comments about serving hot dogs and cheap food at an event to launch a new high-end car. The NLRB ruled in the employee’s favor, indicating that his postings were protected because he was voicing concerns about the terms and conditions of his employment.
As reported in a recent issue of Business Computing World, a study conducted by Websense and the Ponemon Institute indicates 85 percent of respondents said using social networking in the company was acceptable, but 64 percent said that the use presents a serious security threat. The study also found that computer attacks have grown significant with the use of social networks by employees (most use of which is for personal reasons). The biggest offender is when users click on a Facebook link that tricks them into downloading something. Unfortunately, few companies have adequate policies to manage the risk associated with Facebook and other social media outlets. HR and IT teams must consider the level of classified information (health care data, account numbers, etc.) at risk and develop user policies that reflect which individuals and departments need access for business purposes, thus reducing the risk of legal and financial liability.
Beyond human resources concerns, Facebook also exposes companies to increased security risk.
An employee at WalMart, however, did not receive NLRB support. In that case the employee vented about management tyranny and posted a vulgar name describing a female manager. The board noted that the posting was “an individual” gripe rather than a forum to discuss working conditions with coworkers. According to NLRB General Counsel Lafe Solomon employees can discuss work
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An aging American workforce gives rise to new business opportunities.
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t has been said, “The bigger the challenge, the greater the opportunity.” This is certainly true as business leaders confront “the silver tsunami,” a phrase coined to describe the impact of 76 million baby boomers who will be turning 65 years old during the next two decades. “Instead of a mass movement of water,” says Elder Care blogger Marilyn Ellis with Examiner.com, “this tsunami is made up of seniors—a human flow that, without planning, threatens to overwhelm and engulf us. It’s the biggest and most significant trend of the 21st century and yet, we’ve failed to make a plan.” Since 2011, each new day brings 10,000 boomers celebrating their 65th birthday, and this party will continue daily for the next 20 years. Aging boomers will cause the 65+ population to double by 2050 and the 85+ population is projected to increase fourfold. Business leaders need a plan to harness the power of this tidal change. Four challenges are unfolding. Each can be turned into strategic opportunities for business.
Maximize the diverse talent from a four-generation workforce.
Regardless of industry, serve this market.
“For the first time in American history, workplace demographics now span four generations, meaning that 20-year-old new hires can find themselves working side-by-side with colleagues who are older than they are by 50 years (or even more),” says Rebecca Kelly, state director of AARP Tennessee. “Baby Boomers attempt to develop a spirit of camaraderie with team members whose on-the-job experience amounts to a semester internship,” Kelly continues. “Generation Xers craft policies that will affect quality of life for colleagues old enough to be their grandparents. Members of the World War II generation find themselves taking orders from new managers who are literally young enough to be their great-grandchildren.” Think about going to work and discovering your co-workers are your grandparents, your parents, your siblings and your children. Generational differences effect every element of the workplace since each generation has varying core values, communication styles, work ethics and motivators. Business leaders must become well versed in the similarities and differences between the four generations of their workforce. A “one-size fits all” approach to your leadership style will not allow you to maximize the talents of your team. You must be able to assess the individuality of each team member and find a way to honor each person’s unique gifts. For example, a single message may need to be communicated to one employee through a text message and conveyed to another using a typed memorandum. One employee may prefer to be motivated with a cash bonus, while another may prefer the flexibility to come-and-go based on the project at hand. Kelly believes “an ‘age-neutral’ workplace supports real communication and understanding across all ages, and builds on the unique values and strengths of each generation. Businesses that pay attention to intergenerational issues will see an impact on their bottom line.”
Consider these statistics about today’s aging population: • 50 percent of boomers want to buy a new home after retirement; • Baby boomers are the first generation in American history in which the majority have obtained at least some form of higher education; • Baby boomers see health care as a blend of entertainment, fitness, beauty, medicine, and spiritual well-being; • Boomers are 27 percent more likely than any other generation to embark on a major home improvement or repair in the next 6 months; • Boomers make up 60 percent of all divorced people in the U.S.; • The 50+ market in China will be 525 million people by 2025; • The average income of boomers is $71,300 with a net worth of $236,000 and they represent the highest percentage of investors in the stock market; • This group controls approximately 70 percent of the country’s wealth.
The School of TransformAging at Lipscomb University It is obvious that opportunities abound for those interested in expanding senior products and services beyond the options of the past. This is one of the reasons why Lipscomb University created the School of TransformAging. The School was designed to lead the transformation of aging services in America, through intentional partnerships with governmental, corporate and nonprofit entities. The School offers an innovative graduate program in aging services leadership, including a graduate certificate designed for professionals from all three sectors. The
Every business within every industry needs a strategic plan for offering customized products and services to this market. Regardless of your occupation, be it a banker, retail operator, hotelier, doctor, attorney, realtor, landscaper or restaurant manager, you must be attune to the unique needs of this market. Does your business have anyone with specialized skills in this market segment? If not, develop this competency amongst your team. Baby boomers plan to age differently than previous generations. Therefore, entrepreneurs who create product and service innovations for this generation will not only improve the lives of millions, but will also reap significant financial rewards. In a recent edition of Entrepreneur magazine, two of the six markets ripe for new ventures were related to aging services.
school’s faculty is available as consultants to help individual businesses address the challenges discussed above. To learn more, visit us online at http://transformaging. lipscomb.edu. —CL Charla Long, J.D., is the dean of Lipscomb’s College of Professional Studies and the creator of the School of TransformAging.
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N Creatively address productivity losses caused by caregiving. It is estimated that 80 percent of all long-term care services used by older adults are provided by family and friends. On average, caregivers tend to be females in their late forties who are married and spending on average six to 10 hours a week for nearly seven years in a caregiving role. Just over half of these caregivers are employed full-time. A growing number of individuals are long-distance caregivers, meaning they provide care to someone living at least one hour away. Nearly two-thirds of longdistance caregivers work full time. For full-time employed individuals, caregiving is just one more responsibility which must be accomplished during an already jampacked 24-hour period. Therefore, employers often experience a number of negative impacts including decreased productivity, lost time from work, increased turnover due to early retirements, and a higher number of unpaid leaves. The MetLife Mature Market Institute and the National Alliance for Caregiving conducted a study to estimate the productivity losses to U.S. businesses of employees who must make workplace accommodations as a result of caregiving responsibilities. The study found: • The total cost to U.S. employers for full-time employees with intense caregiving responsibilities was $17.1 billion per year, and another $33.6 billion for full-time employed caregivers who provide 10 or less hours per week of care in a lessintense environment; • Intense caregivers cost an employer $2,441 per year, while the less-intense caregiver costs $2,110. Organizations must think creatively about how to address workday interruptions, unpaid leave policies, crisis in care situations and flexible work schedules, to name a few. Depending on the business, an employer could offer compressed work weeks, flextime, or cross-train employees for job sharing. Part-time employment or telecommuting might also be an option. Some more progressive employers are choosing to hire geriatric care managers to assist employees with caregiving issues. Others are opening on-site adult day care centers, hosting support groups, and providing information on community resources.
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o one should be known for the one worst thing that they’ve ever done,” says Dr. Richard Goode (’82), professor of history and coordinator of the LIFE (Lipscomb Initiative for Education) programs at Lipscomb University. “Everybody is more than that. We don’t want to deny what’s transpired, but we don’t want for that to always define us and keep us apart.” Goode oversees Lipscomb classes held at the Tennessee Prison for Women (TPFW) for two hours on Wednesday nights. These classes
Expand the offerings and raise the caliber of care. Getting older today looks much different than it does for earlier generations. Some nursing home companies are embracing change and rethinking their core business, becoming more innovative in the delivery of person-centered care. These organizations realize seniors want options and do not want to be limited to living in a stereotypical nursing home. For many seniors, they choose the hassle-free, active lifestyle created by residing in an independent living community. Brentwood’s own Brookdale Senior Living is known for not only their beautiful communities, but for their innovative services all along the care continuum. Tennesseans have experienced a rapid expansion of Home and Community Based Settings (HCBS). Since August 2010, the State has shifted hundreds of seniors from skilled nursing facilities to HCBS. Today, one-third of all enrollees in the state’s CHOICES program receive their care in HCBS, up from just 17 percent less than 18 months ago. The expansion of the delivery of healthcare services in individual homes has caused many seniors to choose to modify their homes so they can “age in place.” The expansion of alternatives service delivery models in this labor-driven industry has created some real challenges. Terri Bowes, director CHOICES program for BlueCare/Volunteer State Health Plan (one of Tennessee’s managed care organizations) says, “We have seen an incredible increase in our ability to keep our members in their home to age in place where they feel comfortable and where we all really want to be. To be able to continue this positive trend, we need to ensure that we have the right complement of qualified workers who are well prepared and trained for the medical complexities and tasks they will be required to perform. There is work that needs to continue before the demand out runs the supply. Our families are our most precious commodity.” Companies who can deliver higher quality care through a bettertrained workforce are certain to thrive. Consumers and business leaders alike must insist on a more qualified direct care workforce— for our parents and also for ourselves.
see Prison for Partnering with the Tennes is making a ogram Women, Lipscomb’s LIFE pr r all its students difference fo
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are attended by both traditional Lipscomb students and qualifying TPFW students. “These [TPFW] students are folks who are hungry for relationship, who want support and encouragement,” Goode explains. “For traditional students, this is about awareness, to be attuned to the fact that the world has a lot of needs and opportunities.” For the women residing at the prison, the program provides an opportunity unlike any other they’ve had. Tearfully, TPFW student Crystal says, “I get to be not an inmate but a student.”
Some reconciliation from exile The truth of Crystal’s statement lifts any illusion that this is an ordinary college classroom. The conversation takes place in a room inside the prison. Walking through a security system on the way to class, visitors are patted down by prison guards and must leave behind smartphones, purses or any personal item that had not been approved by the security staff. Yet the demeanor, attitudes and behavior of the “inside students” belied the fact that they are wearing prison uniforms—smoky blue with TN State Prison stenciled on the back of their shirts and down the side of their pant legs. As a whole they are eager students, asking questions, engaged, alert to the directions of Lipscomb College of Business instructors, Dr. Leanne Smith, an associate professor who co-teaches the management communications class, and Dr. Laura Williams, assistant professor. Everyone in attendance aims to earn three college credit hours. But while the “outside” students can earn their associates degree in
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two years, the TPFW students are limited to taking just three hours each semester. Nonetheless, those fifteen students repeatedly voiced their appreciation. “I’ve learned that education is rehabilitation,” observed one student. “It’s the key to gain the power to accomplish what we want.” Beyond what is taught in this classroom, like how to write a memo or business letter, the students realize that there is much to learn from each other. Each of the students introduced herself/ himself that night, providing a little bit of background information. One traditional Lipscomb student was startled to discover that many of his fellow classmates had been incarcerated when they were 16, 17 and 18 years old. “They’ve been here since before I was born,” Lipscomb sophomore Jesse DeShazo (’14) observes. DeShazo’s eureka moment is exactly what Goode hopes all traditional students will learn by participating in the classes. “Prisons exile,” Goode notes. “The system says ‘You’re going [to prison]. We don’t want to hear from you, we don’t want to see you. You’ve violated us. You’re removed from society.’ This [LIFE program] is a way to say, ‘These are people of our community. The Lipscomb campus has a great community. But there are other communities in Nashville.”
‘I’m not worthy’ Goode launched the LIFE educational program in January of 2007 with fifteen TPFW students. “We started the program planning that it would be a two year program,” he says. But at the end of the two years, the women asked that the LIFE program
continue. The program received a grant, enabling Lipscomb to not only provide more classes for the original group, but then a second cohort of fifteen women was started in 2009. And yet another group of fifteen started their classes in 2011. “Now we have 43,” Goode says with a laugh and a shake of the head, as though amazed that the program has been so successful. The educational staff at the prison selects the women who apply out of the approximately 750 confined there. To qualify, a candidate must have a clean behavioral record for two years and have earned a high school degree or the equivalent. In addition, they must pass an in-house ACT test. A year ago, a prison administrator confided to Goode, “It’s unheard of that 30 women would have this clean of a behavioral record.” Goode adds, “The ladies have been incredible stewards of this program.” To date, the women have a collective 3.7 GPA. Many have a perfect 4.0 grade average. The program hasn’t been without challenges. For example, how do Lipscomb instructors adapt their syllabi to student groups working on antiquated computers with software dating back to Word 97? “When we talked about right click, one student took her pencil and wrote out the word ‘click,’ recalls Smith. “She didn’t realize that we were referring to the right click of a computer mouse.” Lacking access to modern technology doesn’t discourage these women. If assignments can’t be produced on a computer, then the assignments are hand written. “Hand written is more personal,” said one of the students that night.
Dr. Goode remembers that the first time the class met, “Everyone was scared.” He recalls that the TPFW students didn’t feel that they deserved this opportunity. “I’m not worthy of this,” was their typical comment. Some of the traditional Lipscomb students were gripped by fear of the unknown. “We had a student who couldn’t get out of his car,” remembers Goode. “He drove up [to the prison], but he was so afraid that he drove back to the [Lipscomb] campus. We had to find him and say, ‘Next week, we’ll walk with you, we’ll be okay.”
Forecasting new futures The original group of TPFW students is slated to graduate in the fall of 2013. Already two students have been paroled and started attending Lipscomb as regular students, catching the attention of Congressman Jim Cooper. “This forward-thinking and innovative program is making a remarkable difference in the lives of the participants from the TPFW and the students from Lipscomb University. Education is one way to reduce the cycle of recidivism among those formerly incarcerated,” Cooper says. Claudette Bordis, a TPFW student in the management communications class, is hoping to be released in the spring. She’s planning to start attending Lipscomb as a traditional student with hopes of majoring in accounting. She’s dreaming big. “I want to start a business,” she says, looking forward to a future beyond the bars. “The first 20 percent of profits that I earn, I want to give to a charity to help other women like me.”
Tasha raised her hand and asked, “What is Facebook? I read about it in Chapter 1, but I don’t know what it looks like.” “Sprinkling Gold at the Tennessee Prison for Women” Lipscomb University Business Blog
Giving LIFE Not since 1948 has Lipscomb offered an Associates of Arts degree. Lipscomb served as a junior college until graduating its first senior college class in 1948. Lipscomb’s new Associates of Arts degree program created specifically for inmates at the Tennessee Prison for Women will follow the 63 credit requirements set by the Tennessee Board of Regents General. Studies have shown the percentage of prison inmates who return to prison with a new charge drops dramatically when the inmate has pursued additional education at the college level. The cost of the education for the Tennessee Prison for Women students is financed in one of two ways. The tuition is paid in the form of a grant provided by the Office of Criminal Justice Programs or students must rely on donations. Anyone can donate and have, even individuals from out of state. Checks should be made out to Lipscomb University with a notation that the donation is for the LIFE program. Mail the gift to: One University Park Drive, Nashville, TN 37204. For further information, contact Richard Goode at 615/966-5748 or richard.goode@lipscomb.edu. —D.C.
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Shannon Terry played college basketball for the Lipscomb Bisons and was the team captain in 1992.
confessed, too, he’s a workaholic from a long line of workaholics. And finally, his goal at 247Sports, the third Internet college recruiting reporting company he has started, is to unseat ESPN. In short, Terry knows his inner terrain well, strengths and flaws alike. He is a shrewd judge of reality and will say it as he sees it, starting with himself. He attributes his relentless workaholic nature to being an only child raised by farming parents who only knew how to work. He says when he left the small town of Woodville to matriculate to Lipscomb as a basketball recruit, he was nothing more than a “redneck from Alabama… a typical small town basketball hero [who] didn’t recognize how insignificant I was,” he says, smiling. But his first challenge as a Lipscomb freshman, however, wasn’t chapel and conforming academically. It was dealing with another man with an ironclad will like his own—legendary head coach Don Meyer, the coach posting the most wins in the NCAA. “I hated him and he hated me. We are similar,” Terry recalls. “I didn’t fall for his act of submission. I called a ‘no go’ and I challenged it. If the cause is right, I’m there, but I need a good reason to do it.” Still it was the greater challenge of fully investing and believing in a cause greater than his own that carved the man out of the boy. To this day, Terry says he and Meyer are friends. Outside of his parents, no one has had a greater influence on him than Meyer.
Mix it up
Still Courting Success One of Lipscomb’s all-time top competitors, Shannon Terry, aims at ESPN
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By Sherry Stinson
hannon Terry, founder and former CEO of the wildly successful college Internet recruiting site Rivals.com which sold for a reported $98 million, was in a confessional mood the day I finally tracked him down at 247Sports offices in Brentwood. The 1992 Lipscomb graduate, who was co-captain of the Bisons men’s basketball team and part of the senior class that posted a record 145 wins during their tenure, revealed that given the choice between a sporting event or dinner, he’d probably choose dinner. He
Lipscomb’s “balanced environment” galvanized Terry’s competitiveness, tempered his strong will and set the stage for a little history in the making. The business story is fairly well known. Terry helped start AllianceSports, which was eventually acquired by Rivals Networks. When Rivals Networks ceased to operate, Terry found some investors and turned the defunct business into the wildly successful Rivals.com. When Rivals.com sold in 2001, Terry stayed on for almost two years to run the company. But dissatisfaction set in regarding the way Yahoo was handling Rivals, so Terry took a short vacation. When his non-compete agreement ended, he started 247Sports and jumped back onto the sports virtual highway. According to Terry, 247Sports is growing faster than Rivals: Rivals has a subscription base of 225,000 and 247Sports is inching upward at 45,000 and counting within a two-year period. The business models are very similar: revenue is based on subscriptions (just shy of $10 a month) and advertising.
Terry has a disdain for opinion reporting and flatly asserts 247Sports bases its brand on finding the best, accredited sportswriters and experts in the field. The company has permeated 40 sports markets and is looking at entry into at least 67. Terry admits he didn’t want to sell Rivals.com and says he was depressed when the deal went through. “It was 11 years of everything I knew. It was my legacy. It was a tough time.” Even with the lucrative deal, he says his success in business has been built on a lot of mistakes—so many mistakes that he feels good about where he is with 247Sports. He estimates 247Sports will spend upwards of $7 to $8 million every three years for proprietary software to keep its competitive technology edge, and he’ll continue to scour the country to find the best sports reporters to provide all original content to keep brand identity strong. He has but one 247 goal—to be the source in college recruiting information and make ESPN follow. The goal he doesn’t have is to be another Rivals. “We grew too fast,” he says adding, “It was a defining moment. It is totally about the journey.”
Game change When it comes to life for Terry, there are two kinds of people—those who compete and those that don’t. “Life is tough,” he says. “There’s not a day I come in and think everything is great. But I always revert back to my foundation—the value of hard work.” Mistakes and hard work withstanding, his business model is incomplete without the sheer strength of his character that takes no prisoners and has no fear of the competition. “I’m flawed but I am what I am. I’m not doing what I do to live up to someone else. I learned from Coach Meyer you have to go in everyday and do the thing that makes you most uncomfortable.” What’s left? Terry admits to needing more balance and a yearning for more inner peace, and finding the next passionate sportswriter who wants to come to work in a dynamic field for an exacting boss. Oddly, those who are passionate about sports are usually not the best candidates for 247Sports he explains. “I’ve hired 300 to 400 people and I’ve learned I am not here to develop youth. I’ll let GE train them and look for them closer to their 30s when it matters more to them. No dead fish,” he says smiling. “I can spot them a mile away.” His advice for college graduates looking to enter the work force is another systems buster: “Don’t take your first job for money. Take it for who will train you.”
He has but one 247 goal—to be the source in college recruiting information and make ESPN follow. The goal he doesn’t have is to be another Rivals.
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Lipscomb’s expansion to Cool Springs By John Lowry, Executive Director—Spark
ipscomb University will open its new Williamson County facility in Cool Springs this summer. Early this year, university officials finalized a lease on a nearly 6,400-square-foot facility located at Thoroughbred Village III Professional Plaza. The facility, called “Spark,” is designed to create an environment for innovative ideas in learning, business, faith and the community. A technology-rich facility, Spark will offer flexible space and cutting edge delivery systems for Lipscomb graduate, adult learning and certificate students as well as for corporations and community organizations in the area who are looking for a meeting venue that encourages fresh thinking.
In what ways is the campus different than most other educational environments? Spark will be available to the community through a value-rich membership program. Members can use Spark as a welcoming, relaxed and flexible alternative for off-site meetings, presentations and corporate events. It will accommodate meetings for a few as four people to as many as 144. We’ll also provide all the flexible branding, integrated technology, planning tools and team you’ll need. At the end of the day, it will be the service that distinguishes Spark, whether it’s helping a corporate executive design a strategic planning session to serving dinner to an MBA class.
What’s the idea behind a Williamson County location — could it have been anywhere, or was this intentional? Our goals and our mission to expand our unique style of education fit perfectly with Williamson County. If you want to advance your skills, Williamson County (with low unemployment and many top-ranked companies), is the place to do it. So we saw a community of potential students who could benefit from our targeted graduate programs and experiential teaching styles.
What’s the timeline on the campus ramping up? The facility is expected to be occupied by this summer, and programming will begin for the fall 2012 semester.
John Lowry
What sort of students does this campus target? Williamson County is already full of top-notch employees at the nation’s top companies. Spark will attract those employees who want to become a top-notch boss at one of these national companies, or to advance in any of the rapidly growing industries present in the county. Graduate programs in management, information technology, health care and education fall in line with the industries that the Williamson County Economic Development Strategy has targeted to nurture in the county.
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Lipscomb’s academic programs offered at Spark. • Masters of Business Administration (MBA) • Masters in Engineering Management • Masters of Science in Exercise and Nutrition Science • Masters/Certificate in Information Security • Masters/Certificate in Information Technology Management • Masters in Marriage and Family Therapy • Studies in Behavioral Analysis Certification Program
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t may be an over-simplification, but it is fair to say that Asia’s economic transformation over the last 30 years has been built on a relatively limitless supply of cheap labor employed to undertake repetitive work on a massive scale. Asian workers have been willing to work harder, in more challenging conditions and for much less than their counterparts in the West. As a result global manufacturing capabilities have moved East—China’s proportion of GDP generated from industry is now twice that of the United States. Freed from the need to actually make the products it consumes, the West has increasingly concentrated on intangible service industries and
the creation of new technology that enables the pursuit of individual enjoyment. Let’s set aside the issues of global trade imbalances where, for example in 2011 the United States exported $94 billion of goods to China, but imported nearly four times more. Trade barriers, intellectual property issues, quotas and exchange rates must all be addressed over time. There are other reasons, rooted in economics and education rather than fairness, which render the existing model unsustainable.
are aging fast—in many instances faster than those in the West. China’s “one-child policy” is having a profound impact. In a society where family has always provided much of the social safety net, millions of families are faced with the prospect of one working-age couple providing support and care for four aging parents, and perhaps grandparents as well. Fewer workers means “cheap” labor becomes less cheap. Wage inflation is already a problem and manufacturers who once thought China to be the best domicile for their operations increasingly look to other markets such as Vietnam, Indonesia and The Philippines. And workers are finding their voice. There have been increasing numbers
‘Cheap’ labor? Demographic change is shrinking Asia’s pool of young, cheap labor. Populations in Asia
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Hong Kong
Interning in Hong Kong
of reported disturbances in Chinese factories over the past few months featuring demands for better pay and working conditions. The fact that these are reported in official media implies they are of such significance that they cannot be ignored, that the authorities are addressing the grievances and are contemplating change. It will be some time before Asia’s cost advantage is completely eroded but the trajectory is undeniable.
For the past three summers, the
markets to identify common themes and derive educational
Lipscomb University College of
content for use in branding and marketing.
Business has placed interns in the offices of Prudential Asia Corporation, one of the region’s
Q: What was a typical day like? My workday started at 9 a.m. and ended at 6 p.m., includ-
largest insurance and financial
ing a lunch break in between. A typical day was filled with
services companies. The intern-
coordinating workflow, assisting with compiling and complet-
ship experience enables those
ing project deliverables, conference calls and meetings.
selected to spend a summer in Hong Kong, work on a paid
Learning Style Matters We hear much about Asian “Tiger Moms” raising high-performing students with math and science scores that are the envy of the world. It is worth a closer look. China’s education system was designed 60 years ago to provide a basic level of education to the masses and to train technocrats for a centralized, state-run economy. Since Deng Xiaoping opened China to the world in the late 1970s, the free market, the Internet, and globalization have all come to China, each with its own particular set of promises and perils. Domestic and foreign employers alike complain that they cannot staff their companies, even though many of China’s university graduates struggle to find employment commensurate with their education. At the root of this is the didactic method by which Chinese students are taught. It is clear that large classes of students memorizing textbooks from dawn until midnight in preparation for multiple-choice examinations cannot produce the management and creative talent needed by a global knowledge economy. Those who are at the forefront of China’s economic reform and progress–senior managers, government officials, entrepreneurs, and intellectuals–know this and are often the first to send their children for more holistic schooling in the West. Most young Chinese studying abroad plan to return home. Educated to welcome difference and diversity and to confront the challenges of globalization, they can help China
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basis during the summer for Prudential, and to experience
engage with the world. In response to this trend, the Organization for Economic Cooperation and Development started a unique experimental program at Shenzhen Middle School in Guangdong Province, just across the border from Hong Kong. Rather than rote learning, students in this program learn to read critically and write clearly in English. They contribute to seminar discussions and participate in a wide variety of activities—a daily newspaper, a school coffeehouse and an English magazine—that teach valuable cooperation and communication skills. A series of Education Reforms announced by the Chinese government in 2010 are a good first step towards providing more holistic learning for Chinese students. Reform of this kind will help ensure that China makes the transition to an economy that doesn’t simply build things, but creates them as well.
Creativity and Conformity Creativity is ethereal. There’s no simple way of learning it, no formula that can be applied with any certainty of creating it, such as X parts diligent study and Y parts of exposure to certain influences will equal a transformational new idea. Many of the greatest innovators in history were non-conformists. Scientists, artists and politicians who were shunned by their societies, perhaps considered radicals in their time. A society where innovation flourishes is one where differences are at least tolerated if not actively encour-
aged, one where people don’t fear taking a different view, where there is freedom to take a different path. Not every new idea turns out to be a great one but society shouldn’t dissuade people from trying anyway. Conformity and respect for tradition and hierarchy are core tenets in Asian society. Challenging this order can be very difficult for the individual but can also have consequences for their families, making it even more difficult to question widely held and vigorously enforced beliefs and values. The good news is that change is coming on this front as well. Many in the West might assume the Chinese government would be an obstacle, but in fact they are an active proponent of this change. China has long had a reputation of opening up in limited ways to Western companies to access technology, but the recently announced collaboration with Dreamworks is interesting. Of course there is a technology component, but the stated intention to develop content for the local market is intriguing as there are few industries that challenge conformity an celebrate individuality like Hollywood does. It is gradual, the sort of change that Asians are most comfortable with, but it is change nonetheless.
Opportunities and Challenges I have lived in Asia since the late 1990s, and as a result have an eyewitness to the staggering evolution of Asia. Most of what has hap-
life in Asia in an in-depth manner.
Q: Where did you live while there? I lived in a small hotel called the Bishop Lei. It was
Last summer, Andrea Zyga (’11) was selected as one of
located in an area called mid-levels, a block from the
the college’s interns. She was recently interviewed by Lip-
world’s longest escalator. This made for an easy commute
scomb Business Magazine about her experiences while in
to the office, only about a 15-minute walk.
Hong Kong:
Q: Why did you apply for the program? A: Lipscomb’s MBA program offered me the combina-
Q: Any interesting human interest stories you would be willing to share from your experience? I feel fortunate to have had the experience of working in
tion of a strong academic curriculum as well as an oppor-
an organization led by Barry Stowe. The combination of ethics
tunity to reflect and determine the type of leader I strive
and integrity is hard to find in the leaders of today. As a leader,
to be. As my time at Lipscomb was coming to an end, I felt
he not only has a clear understanding of his personal values
the internship with Prudential Asia would be the ideal way
but exhibits those values in his daily actions. The decisions
to supplement my academic experience. I knew that the
made for the organization are based on personal values, ethics
benefits from this experience would not be replicated in
and integrity, and thus he has created and an environment of
the classroom.
trust and transparency. Seeing a Lipscomb alum putting into practice the lessons learned in the classroom was invaluable.
Q: What did you do? Who did you work for? I worked as a regional marketing intern within PCA’s Regional Marketing Group and reported directly to the regional director of digital marketing. I was an integral part
Q: Thoughts about Hong Kong or China after having lived there? This unique opportunity helped to strengthen and
of the development, coordination, delivery, and production
shape my global perspective. Having the opportunity to
of a multi-channel financial literacy program in conjunction
finish the last steps of my MBA experience in Asia helped
with Cartoon Network Asia. Additionally, I assisted in review-
expose me to the concepts and skills necessary to navigate
ing and reconciled key financial literacy research for seven
in an evolving global marketplace.
pened is very positive: a rapidly developing economy driving the growth of a middle class which is increasingly well-educated, productive and healthy. But one need look no further than the polluted air just outside my window in Hong Kong to see that opportunities are inevitably accompanied by problems. It is increasingly clear to me
that the current generation of Asian leadership is working diligently to better prepare the next to deal with both the upside and the downside of economic transformation. Asia’s “Generation Next” will find itself in a position of great power and influence, and I am very optimistic that they will be up to the task.
Barry Stowe is the Chief Executive of Prudential Corporation Asia, one of Asia’s leading multinational Life Insurance and Asset Management companies with operations is 13 countries and assets under management of over US$80 billion.
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Business Hero: An Oxymoron? In a recent interview, Dean Turney Stevens explains how Lipscomb’s College of Business is teaching students to build success atop an ethical foundation. By Dolly Carlisle
Q: Are current students cynical about the business world? A: There is no question there is a high level of cynicism about business. If you think about it, an undergraduate is somewhere between 18 and 22 years old, and if you subtract ten years from that, that takes you back to 2002. Well, it was 2002 when the Enron mess hit the news. They’ve lived their entire lives where all they’ve heard is what’s wrong with business and how bad business people are. You don’t see stories in The New York Times about all the great things that business does. There are highprofile heroes, like Steve Jobs, but the ones getting most of the attention are people who get charged with fraud and who are going to jail like Bernard Madoff. I don’t blame the kids for developing a certain level of cynicism and doubt about business. The Millennial generation is amazing in their desire to make the world a better place. We have over 800 students at Lipscomb going on mission trips during spring break this year. Nearly a third of our student body is going to do something good that week as opposed to lying on the beach, not that there is anything wrong with lying on the beach. It’s just that the Millennial generation in general, not just at Lipscomb, feels a high level of desire and responsibility to impact the planet. And they don’t think that they can do that through business. Yet when they get out and take that first job they realize that they’ve got to have some business skills, even if they are working for a non-profit organization.
Q: Do you personally believe that a businessperson can be successful and ethical?
T
he blaring headlines of egregious misbehavior and unlawful actions taken by some of the nation’s most highly profiled corporate executives have tainted the public image of the business community. Stories of human greed are as old as man himself. But never before has the work environment been so competitive. The raging onslaught of new technology, the global economy, the rising work ethic of emerging markets hunger
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to live on par with the western world has created a workplace of relentless challenges. It is a working environment in which Lipscomb graduates of the College of Business have a unique role to play. Theirs is the challenge to create success while staying in alignment with an interior moral compass. The college is teaching that the quick fix to a business problem can often bring short-term rewards, but the truly successful business person builds a career and companies that endure over a lifetime.
A: Absolutely. I’ve had a little bit of success and tried to do the right thing. Everybody makes mistakes. There are no perfect people. We have 34,000 alums around the world and we haven’t graduated the first perfect person yet. But can you constantly strive to do the right thing? Absolutely. That’s a matter of commitment and intention. There are lots of examples of great successful business people right here in Nashville who have consistently striven to do the right thing. I can think of several, people like Bill Lee [president of Lee Company], for example; the late Joe Rodgers [founder of Rodgers Company and former U.S. ambassador to France]; Steve Lynn [founder and chairman of Back Yard Burgers, former CEO and chairman of Shoney’s
and Sonic Drive-In] and Karen Shaw [principal at Shaw & Associates, a real estate advisory and consulting firm]. These are committed Christian people.
Q: Is it a greater challenge to remain ethical in business today than in the past? A: Yes. Our graduating students are entering a business environment that has more pressure and more stress than ever before. I know this world. I worked in the private equity world for 20 years. I put all kinds of deals together—multi, multi-million dollar deals— and I know how much pressure there is to make those numbers. I’m on a public company board today. Board members of a public company are under a great deal of pressure and it gets complicated. We tell our students that it’s not a matter of if, but when, they’ll encounter a compromising situation, because the pressure is so great. And there’s such a fine line between what most of us call aggressive accounting and what some call fraudulent accounting. It’s so easy to cross that line. Warning our students of the ethical challenges that lay ahead is part of our school’s mission. Ethical issues are a natural part of various class discussions. I’ve heard some amazing comments from students who say, ‘I really never thought about this. I really appreciate you guys warning me about this. If this situation ever happens to me, I’ll leave my job rather than get caught up in this kind of stuff.’
We tell our students that it’s not a matter of if, but when, they’ll encounter a compromising situation, because the pressure is so great.
Q: Why did you initiate Heroes of Business? A: I wanted to say to the students that these people are heroes. They’ve been enormously successful. But they’ve done the right things. If you listen to them, it would be good advice. The next two recipients will be somewhat different from the previous ones. We’re naming John and Eleanor Liu from Beijing this spring. They were in the restaurant business, small business owners, in Indiana for years. Then they moved to China in the 1970s. They lived through the Cultural Revolution. They tell great stories about bullet holes in their walls, literally. Then they had their businesses in China.
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In the fall R. A. Dickey, one of the starting pitchers for the New York Mets, is coming to receive the award. I call baseball a business. He does, too. He’s just climbed Mount Kilimanjaro as part of a nonprofit fundraising effort, and he’s written a book, Wherever I Wind Up: My Quest for Truth, Authenticity and the Perfect Knuckleball.
The College of Business was already integrating ethics into every class, but since coming to Lipscomb we’ve added a business ethics class at both the undergraduate and graduate level. We brought in Dr. Brad Reid, who is an academic specialist in ethics and business law. We’ve made a real commitment not just in visual things like Heroes of Business, but also in terms of our core curriculum to deal with these kinds of issues on a daily basis.
Q: We are living in a global economy. Won’t students be particularly challenged when dealing with businesspersons from varying cultures?
Q: What other programs in the College of Business address the issue of ethics? A: We created the Hilton and Sallie Dean Institute for Corporate Governance and Integrity. Hilton Dean is a retired vice chairman and CFO of Ernst & Young and the recently retired chairman of the Lipscomb board of trustees. Sallie is a former accounting professor at Fordham University in New York. They gave us a very generous gift and we created the institute. It gives us a way to be part of a national conversation about the issues of business ethics and integrity and corporate governance. The institute examines the guiding principles and factors that inspire honesty and transparency, even when those qualities may have undesirable short-term consequences.
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A: We are really committed to the idea of turning out students who have an awareness of the importance of global business. Of course, there are special challenges of dealing with individuals from cultures that are very different from ours. Transparancy.org ranks the United States 20th in the world in terms of business integrity but China and India were tied last year for 70th. The difference in the way business is conducted has implications. For example, it’s hard to do business in India and not encounter the need to bribe somebody. Yet the Foreign Corrupt Practices Act has just been strengthened. I get a daily news bulletin and there’s hardly a day that goes by that somebody hasn’t been charged with violating the Foreign Corrupt Practices Act. The attorney generals all over the United States are on the lookout for this behavior. Hopefully our students are equipped with the skills to understand what the laws say. We teach our students about how to do business in those environments and not commit a crime. I hope when Bridgestone or other corporations are looking for their next generation of employees they’ll realize that Lipscomb students are ahead of the pack in terms of having studied the history of China, in terms of understanding the nature of the Chinese people and in terms of understanding how the Chinese economy works.
loving hearts, big world By Sherry Stinson
From classroom project to a global relief and sustainability organization, Healing Hands International combines experiential learning and service for worldwide good. andy Steger, a professor of marketing at Lipscomb University, initiated Healing Hands International (HHI) as a classroom project 22 years ago and watched it grow to a staff of 22 in seven countries. This organization drills wells, teaches food sustainability through gardening and food preservation, provides medical supplies and relief assistance as needed and serves as a general resource to other nonprofits. Steger’s business philosophy underlies every movement at Healing Hands.
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“Marketing is about understanding the market and satisfying the need. I was taught you analyze data and then make a decision,” he says. But in the end Healing Hands is certainly more than just a business he admits. “I want the community to say, ‘This is a good thing.’”
Great passion Getting to the hub of this operation is relatively easy. By virtue of the fact that it is painted, the yellow, low-slung building stands out in an industrial sector of south Nashville. Healing Hands Interna-
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tional has been at this location for nine years, and one can’t help but wonder with so many nonprofits in and around Nashville struggling to make budgets in this economy, how Steger took a classroom project like HHI and grew it into an international company. Upon entering the building, a cheerful staffer and several posters of African women with big smiles greet me. The offices are modest and Steger’s office even more modest. Bookshelves line one side of his tiny room at the end of the hall, and a poster of his hero, John Wayne, beams down from the adjacent wall. Steger has brought me down the hallway to tour the medical supplies room and to tell me more about his “second” job as HHI president. As we talk, his trademark smile punctuates each sentence and two things are immediately clear. His passion to help others is carefully measured and wrapped in the marketing principles he teaches. Next, the Lipscomb professor really knows what he’s doing. Directly down the hall from Steger’s office is director of operations Joseph Smith, a Lipscomb alumnus who Steger calls a “busy fellow.” Indeed— among other tasks, it’s Smith’s responsibility to get wells dug. So far the count is up to 100 wells in six countries. HHI owns two drilling rigs; a third is slated to start drilling in Sudan this summer. It’s also Smith’s charge to ship any and everything that’s needed for human aid. “We have shipped everything from an ambulance to Cuba to a boat to Panama,” Steger says. Considering foreign government regulations, specific laws in certain regions, language barriers and corruption in developing countries (to name a few challenges), this seems like no small feat. “There is a lot of dishonesty in this profession,” he explains, “but because we have an infrastructure of people all over the world, we can find out about someone quickly. It is the advantage of a faithbased organization. We can speed up the process and make sure the most needy people are getting help. And it has worked so far.” To that end, HHI also functions as a support to other nonprofits, supplying goods and resources upon request. “We work with a lot of mission points,” Steger says, “but the majority of our work is through the
Church of Christ.” The average church group doesn’t know how to do navigate these troubled waters—but Smith does. The winning combination here seems to be Steger’s business acumen, based on his keen sense of marketing, his ability to inspire others to join him and his faithfulness to the teachings of Jesus to help those who are in need.
Great need Looking around the vast warehouse full of everything and anything, it’s hard to believe this worldwide operation started with morning drive-time radio. Steger was listening to a radio station on his way to work one day and the program was talking about how Eastern European economies had fallen apart and orphanages needed food. “It dawned on me that I could teach students the skills I wanted to teach them to learn and do a humanitarian project,” he recalls. The point solidified for Steger when he observed a sick girl in a Venezuelan hospital. “Typically when you go to another country and need surgery, the doctor will give you a list of items he needs to perform the surgery,” he says. “It is up to the patient to go out to the black market and obtain them. The family of this girl was selling their possessions to pay for the antibiotics.” Steger offered to help. When HHI hit its fourth year as a student project, the medical supplies collection point traveled from the stage in Lipscomb’s Collins Alumni Auditorium to five tractor trailer trucks in front of the gym to a church basement to a Genesco warehouse, which offered space for the effort. That was the day when Steger knew the project wasn’t going away. “I decided I wasn’t in charge and it was time to look at it again,” he smiles. It wasn’t long after that he began to realize the medical supplies outreach wasn’t getting to the root problem, violating a basic marketing principle. “In the business world, we teach students to find the real problem, not just treat the symptoms. A lot of illness in the world occurs because of bad water. That’s where we started redefining our purpose.” Steger noticed when the sick got healed they returned within two weeks sick again. His marketing insight demanded he understand his market
better. What he realized was he hadn’t gotten to the real problem—the water supply. “We’ve evolved to other areas because we are dealing with the health of people.” When he realized sustainable health for people was his objective, he also realized he needed more than just medical supplies and clean water to achieve it. He needed food. Steger found an agricultural specialist and developed a program to teach others how to grow their own food, preserve it and process it. “If you start feeding a person, you have to continue to feed them forever. The goal is for the community to sustain itself,” he explains. HHI had stretched again.
“We can do this” By this time the “company,” a term Steger still finds hard to use in reference to Healing Hands, grew to a size where help was the next prayer offered up. The organization, which utilizes many volunteers, got lucky when another Lipscomb alumnus showed up to help. Burt Nowers, formerly the chief financial officer for AIM Healthcare Services Inc., found a place for his talents and desire to help others. “I am not an evangelist. I just like the aspect of helping people,” Nowers says. He jokes that Steger saved him from the kitchen table when his company sold, but it is clear Steger relies on Nowers’ financial expertise to keep everything operating in the black, with accountability and transparency. Steger acknowledges that even with expert help and all the volunteers there have been times throughout the process that he has wanted to quit. “I have a full time job—and make sure they understand that I understand that I have a full time job,” he quips about his teaching. “And then I go on a trip and I am good for awhile. I am a business marketer that looks around and says, ‘We can do this! We can try! These people can take care of themselves!’” In the end, three things—help, love, and outreach—are about community, not a specific religion. Nowers begins, “We do not go in and just help the Christians or just the Church of Christ. We go in with the intent to help the entire community because Randy is always saying—” “I am a marketer. This is about relationships,” Steger interjects. “I want the community to say, ‘This is a good thing.’”
“In the business world, we teach students to find the real problem, not just treat the symptoms.” —Randy Steger
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All Together Now By Sherry Stinson
With corporate partnerships on the rise for the university, Lipscomb students and area businesses are raking in the benefits.
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eaders. Innovators. Examples. In terms of corporate partnerships, Lipscomb University is establishing itself at the top. As of March 2012, Lipscomb has increased its corporate support by 26 percent from this time last year. Dr. Bennie Harris, vice president for development and alumni relations, believes the university is becoming a leader in corporate partnerships because of what it can offer. “I think for corporations, why we are important, why we would be a great partner, is that we are nimble,” Harris says. “We are flexible and we can get products and relationships to the market and design partnerships with them within two to six months when another institution may take a lot longer to do that. “So, Lipscomb is differentiating itself as a partner, as an educational institution,” Harris continues, “We can create relevant degrees that are accredited, creden-
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tialed, that have expert faculty to deliver it and [do so] in a very short time frame in comparison to other institutions.” Harris, who has been with Lipscomb for five years, has helped establish partnerships with a variety of corporations, including Nissan, Bridgestone, DSI and SunTrust. Institutional partnerships range from sponsorships to philanthropy to volunteerism, and, most recently, a move to implement sponsored research. For Lisa Crowe (’65), senior director of corporate and foundation relations at Lipscomb, corporate partnerships are simply about relationships. “It’s not just a company, per se,” Crowe says. “It’s the people in the company that you’re building relationships with. You are understanding companies through the people that you interact with. Trying to work out a benefit for both—that’s key.”
While relationships help maintain partnerships, mutual benefits help establish them. Corporate benefits vary; however, the most important benefit for corporations is an exclusive insight into the next generation of the workforce. “There are several reasons why companies want to partner with an educational institution, but No. 1 is our graduates, our potential hires for them,” Crowe says. “They want to partner with [Lipscomb] to have an opportunity to know who is interested and what they are doing.” On the other hand, Harris says Lipscomb benefits from corporate partnerships through their value to its students. “I think [corporate partnerships] enhance us as an institution,” Harris says. “It helps to increase our relevance, our product. When we graduate our students, we want them to be relevant in the community and in corporations in the careers that they have chosen. To do that, we’ve got to engage with what is needed.” While students are a large factor for both sides of the relationship, philanthropy also plays a crucial role. Lipscomb provides its partners with an opportunity to give back to the community. “Lipscomb was listed in The Washington Monthly in 2010 as being No. 3 in the country in serving the community,” Harris says. “We have a significant number of community partnerships in which we can be a vehicle for corporations in helping to become even more relevant in the needs of the community and how they operate and do business.” Lipscomb has been just that for corporations like Nissan and SunTrust. In 2008, Nissan partnered with Lipscomb to sponsor two robotics programs, the BEST (Boosting Engineering, Science and Technology) robotics competition and the BisonBot summer camps. Vicki Smith (’79), senior manager of corporate social responsibility at Nissan, says Nissan’s involvement with the programs provides mutual benefits as Lipscomb aligns with its philanthropic interests. “We donate funds used to purchase materials and provide general support for both programs, and Nissan employees from our manufacturing, engineering and safety functions are involved as mentors or competition judges,” Smith says. “They bring their knowledge and expertise to the students and, in return, they enjoy the satisfaction of working with the kids and watching them get excited about learning something new.” It’s because Lipscomb’s programs allow for that
personal interaction that Nissan felt drawn to Lipscomb specifically. “Lipscomb didn’t just ask Nissan for financial support; they invited us to participate in the programs personally,” Smith says. “Our engineers and other employees bring extra value to the experience that is offered to the students.” For Nissan, partnering with Lipscomb was an easy and rewarding decision. “Lipscomb has an outstanding reputation as an academic institution, and the university is located minutes away from the headquarters of Nissan America and our largest U.S. manufacturing operation,” Smith says. “We hope Lipscomb graduates will consider Nissan career opportunities as they’re preparing to enter the global marketplace.” SunTrust, on the other hand, shaped their already established business partnership with Lipscomb into a philanthropic relationship as well, providing generous support to the College of Business, funding the Center for Collaborative Learning and sponsoring the My Generation/Mi Generación scholars program for diversity. Brian Williams, relationship manager in SunTrust’s not-for-profit and government banking specialty group, says SunTrust is both “proud and honored” to partner with Lipscomb. “Lipscomb University is committed to excellence not only in the classroom, but also encouraging involvement and dedication to the larger community,” Williams says. “That fits very well with SunTrust’s mission, which is to help people and institutions prosper, a mission that goes beyond just being the best bank.” Like SunTrust, corporations considering partnering with Lipscomb will not only allow more programs to be created, but they will continue to help Lipscomb produce students who will influence the business community. “One of the benefits of partnering with Lipscomb is that it provides us the ability to interact with and attract some of the most sought after graduates in Nashville,” Williams says. “Among the many awards, Lipscomb was recognized by Colleges of Distinction as a university that stands out for the success of its graduates, quality of teaching, innovative programs, and vibrant campus community. These are all things that are important as we look to hire a new teammate at SunTrust.” As Lipscomb moves into the future and more companies take advantage of all Lipscomb has to offer, it will only continue to expand its opportunities for corporate partnerships—and quickly propel itself and its students to the forefront of the community.
SunTrust, on the other hand, shaped their already established business partnership with Lipscomb into a philanthropic relationship as well, providing generous support to the College of Business and funding the Center for Collaborative Learning.
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Colin V. Reed Gaylord Entertainment Company chief executive officer and chairman of the board. Reed spoke about Nashville’s strong economy and the impact of Nashville’s new Music City Center.
Lipscomb Power Breakfast
By Sherry Stinson
Power up with Lipscomb’s business breakfast and experience real power firsthand eal power—the portion of power flow that, averaged over a complete cycle of the AC waveform, results in net transfer of energy in one direction.. . or simply attend Lipscomb University’s quarterly Nashville Business Breakfast, one of the most dynamic gatherings in Nashville’s business domain to connect with Nashville’s power elite off and on stage. “The growth of the breakfast is the story,” says John Lowry, associate dean of Lipscomb University’s College of Business and founder of the School of Executive Education. “It is the moment where the business community meets, connects and grows together.” This dynamic moment is a significant resource for the business community and the flagship intention of a university that has sounded loud and clear its intention to be a major connector to and in the local business world. But the growth of the event is indeed the storyline.
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Attendance has grown from 30 to 40 people to anywhere from 400-500—even 1,000 in recent years. The breakfast, held on the Lipscomb campus, has been around for around 20 years, according to Walt Leaver, vice president of university relations at Lipscomb University. It is Leaver’s office that facilitates the work of the Nashville Business Breakfast executive committee, the group who recruits the event’s notable speakers. “We have a very clear set of guidelines when selecting the speaker. We want top-level people who have tremendous local economic impact,” he says. The Nashville Business Breakfast is but one way Lipscomb has asserted its intention to be a positive impact player in the Nashville business community. A benefit of the event includes the opportunity to hear top speakers—elite members of the business world like Country Music Association CEO Steve Moore, Gaylord Entertainment CEO Colin Reed or Titans Head Coach Mike Munchak—not to
mention a chance to network with an impressive crowd of movers and shakers drawn by the remarkable speakers. The benefits to Lipscomb are equal. “Lipscomb wants to be a leader of positive change in this community,” Lowry says. “The breakfast is a great opportunity for this to take place. The fact that we are in the middle of that is a really strong value. We are passionate about service before we sell.” However, he adds, “From that service, people will be attracted to pursuing an education here.” Within the past five years Lipscomb has partnered with the Nashville Business Journal and changed the name to the Nashville Business Breakfast, tweaking the format to include the popular forum. Kate Herman, president and publisher of the Nashville Business Journal, says the changed format provides a more interesting perspective. “We ask each speaker to speak for 10 minutes and then sit down in a more comfortable discussion format and take questions from the audience. It allows for attendees to see some of the speaker’s personality, as well as be updated on their industry and how it effects Nashville.” Herman says one of the key benefits of the breakfast to her is for the attendees to be reminded that Nashville has remarkable leaders. “Every breakfast I learn something new from a speaker and come away inspired.” “[It’s] an energizing experience,” Lowry says. “One of our strategic initiatives is to get more corporate partnerships in place at Lipscomb. When thinking about how to strengthen ties in the community, it starts with the business breakfast.” Lowry asserts there is nowhere else in Nashville where the business community comes together like this and it happens at Lipscomb University. “Lipscomb is a very special place,” he says. “I am passionate about Christian higher education and Lipscomb gets it and is moving down a very admirable path. We want to be excellent in all we do, but in a way where we continue to advance our faith-based heritage and spiritual formation while growing professional competencies for the students. In this day and age, there are lots of challenges navigating those waters and I’m proud to be part of that advancement.”
Nashville Business Breakfast Past Speakers • Phil Bredesen - Former Governor, State of Tennessee • Karl Dean - Mayor, Metropolitan Nashville • Rick Doornbos - President and CEO, Hemlock Semiconductor Group • Michael Dell - Chairman and CEO, Dell, Inc. • Mark Emkes - Former Chairman, CEO and President of Bridgestone Americas • David Geanacopoulos - Executive Vice President, Volkswagen Group of America • Cordia Harrington - CEO and President, The Bun Company • Bill Haslam - Governor, State of Tennessee • Steve Moore - CEO, Country Music Association • Mike Munchak - Tennessee Titans Head Coach • Colin Reed - CEO, Gaylord Entertainment • Carlos Tavares - Executive Vice President, Nissan Motor Co. Ltd. • Michael Wells - CEO, Jackson National Insurance Company • Jonathan Tisch - Chairman and CEO, Loews Corporation • Bill Winsor - President and CEO, Market Center Management Company - developers of the Nashville Medical Trade Center • Michael Woodhouse - Chairman, President and CEO of Cracker Barrel Old Country Store
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The Next New Thing At Lipscomb Lipscomb:Next by the numbers. While it is impossible to reach a destination without knowing exactly what and where it is, we do know that how we travel to 2016 will shift and change and create additional opportunities. However, as good stewards, we have mapped out a Lipscomb:Next agenda to accomplish our goals:
Preserving and building the campus
$55,000,000
New nursing facility McFarland Science Center renovation and expansion Health sciences research facility Swang Business Center renovation and expansion College of Education and conference center Lipscomb campus school expansion New and renovated residence halls Library-Learning Commons Lipscomb campus school athletics expansion
bestseller several years ago, the book ignited interest in the business world about predicting what would be the hot new fad, the hotter new product, the hottest new entrepreneurial company. The book was called The New New Thing and today it could serve as a theme for what’s happening at Lipscomb University and its College of Business. After more than half a decade of the fastest growth in its history, the university is preparing for its own next new thing. In fact, the years leading up to 2016 when the school will celebrate its 125th anniversary have been christened “Lipscomb: Next.” These next years will see a $125 million capital campaign to mark the anniversary, with much of that funding earmarked for major capital improvement projects including a completely rebuilt and greatly expanded Axel Swang Center, the home of the College of Business. Dean Turney Stevens has led the college’s planning for its part in the overall campaign and he has set the college’s fundraising goal at $12 million for its own Lipscomb: Next projects. “We currently estimate the rebuilding and expansion of Swang Center will require at least $6-8 million,” Stevens said. “Our goal is to create the best Christian college of business in America and, to do that, we must have the best, most state-ofthe-art classroom and learning environment.”
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The balance of the funds raised will be directed to the creation of the Center for Entrepreneurship and the Center for Global Connectedness, the creation of Funds of Excellence for accounting, health care management and other key academic areas, and the endowment of chairs in accounting as well as others. Stevens mentioned that one of his personal goals was to see the funding increase for the Hilton and Sallie Dean Institute for Corporate Governance and Integrity. He noted that the institute has already been named as one of the 100 Most Influential in business ethics and that the opportunity to connect the College of Business to the national and international business communities in this area of service is both immediate and ripe. “We will certainly listen to our donors as they express their passions and interests,” Stevens said, “but we would also like to ask them to share our vision for the future of the College of Business and to help us create a legacy that will serve future students for generations.” He noted that many, especially accounting graduates, have asked how they might honor specific individuals such as longtime Accounting Department Chair Charles Frasier. “It will probably be the world’s worst kept secret by 2016,” Stevens laughed, “but we will not let this moment pass without taking advantage of the opportunity to honor professors who
have served generations of students, such as Charles Frasier and others. He said those honors may take various forms, from the endowment of a chair in the professor’s honor ($1 million and up) to the creation of specific Funds of Excellence named for professors ($100,000 and up). “We hope there will be alums and community business leaders who will want to share their own success by funding a project entirely with a single donor›’s gift,” Stevens said. He said that smaller gifts can be aggregated, however, to honor an individual or to address a specific project. “The expanded Axel Swang Center will also have numerous naming opportunities,” Stevens said. “The goals of our Five Years To Five Stars strategic plan are now within sight,” he added. “We just need financial help to build the finest home for a Christian college of business and to complete the steps needed to become America’s best Christian college of business.” More information about giving opportunities may be obtained by emailing Dean Stevens (turney.stevens@lipscomb.edu) or calling him at 615-966-1989.
Intercollegiate athletics expansion
Programs that propel academic excellence $43,400,000 Spiritual formation Technology for teaching and learning Community engagement and service learning Faculty development Student services and support Cross-cultural and global experiences Lipscomb campus school academic growth Distinguished speaker series Faculty and student research
Endowment
$20,000,000
Student scholarships to support recruiting Chairs and professorships to retain top-notch faculty Programs that promote innovation and creativity
Lipscomb Fund
$6,600,000
University’s areas of greatest need
Total
$125,000,000
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A r o u n d th e Co l l e g e
Teacher. Counselor. Mentor. Friend.
By Charles E. Frasier (’70)
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n 1947, Axel W. Swang arrived at David Lipscomb College as a $200-a-month accounting teacher to fulfill his one-year teaching contract, with the thought of moving on to a higher-paying job. After fulfilling his one-year contract, he decided to stay. He would also coach the baseball team, and become a part-time preacher. It soon became apparent that the Swang-Lipscomb partnership would become a permanent relationship and eventually impact the business landscape of Middle Tennessee. During the 1960s the business community of Middle Tennessee experienced significant economic growth with the formation of HCA and other healthcare companies, which joined such existing companies as Genesco, Life & Casualty Insurance Co., National Life & Accident Insurance Co., Ingram Industries, Purity Dairies and many others. During this time, Jack Massey joined other entrepreneurs in the formation of many new startups, including HCA, Kentucky Fried Chicken and Volunteer Capital Corporation. Nashville became home to several of the Big Eight public accounting firms, and they soon discovered that Lipscomb could provide the highest quality professional labor for their audit and tax staffs. Swang emphasized two important attributes for his majors. He would say, “We will give you the technical skills but you should always: 1) exhibit strong work ethic and Christian character, and 2) treat others with dignity and respect,” two ingredients that, to this day, form the foundation of a successful business and personal life. He would add, “provide a service, be industrious, be faithful to your employer and it will pay off.” David Costello (’64), former president and CEO of NASBA and a former student
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Mile 7
By Laura Williams (’00, MBA ’02)
Dr. Axel Swang Turns 90 of Swang’s, states, “Responsibility and accountability were assumed traits for Swang’s students and when he detected a lack thereof, much more than a piece of chalk or an eraser would be heading your way. When I think of Dr. Swang I’m reminded of the words of Sophocles: ‘One must wait ’til evening to see how splendid the day has been.’ I can unreservedly state that I really didn’t appreciate Dr. Swang until after I’d graduated, began my professional career and endured many of the situations he’d talked about.” Costello adds, “Dr. Swang is that rare teacher, counselor, mentor and friend.”
Bruce Sullivan, former student and former partner-in-charge of the Nashville office of Ernst & Young, states, “Dr. Swang [is] an icon in the accounting profession. He became a master of teaching, observing, listening, advising and mentoring young, up-and-coming, business and accounting professionals. As I look back, I recognize that Dr. Swang had the greatest impact on my career of any one individual. He took me aside more than once and gave me advice that, thankfully, helped me to better focus on the direction of my career. And, I know that I am just one of the hundreds, if not thousands, that he helped develop, mold, grow and mature. Thank you, Dr. Swang.”
Reminders of the supportive Lipscomb community appear often—even along lonely stretches. here’s a moment during every run where I start to feel it—alone, isolated and struggling to continue. It doesn’t matter whether it’s a short training run or a long-distance race. In a half-marathon, it’s mile 7. I ran my first half marathon in 2011. The first six miles were the easiest I’ve run in my life. I ran past where my family and friends were cheering. I spotted faculty member Charles Frasier on the sideline, got a quick high-five. But soon I crossed the mile 7 halfway point and my adrenaline was starting to fade. I was running alone, starting up a long, gradual hill. The next time I expected to see a familiar face was at the finish line. But then I saw something about 50 yards ahead. In a sea of 35,000 runners I recognized a purple College of Business team T-shirt printed with the familiar words found in 1 Timothy 4:8: “Training your body helps you in some ways, but serving God helps you in every way by bringing you blessings in this life and in the future life, too,” (from The Message). In that moment, with the inspiration of connecting with my teammate, MBA student (now graduate) Sarah Beth Barkley, I knew I would finish the race. And 5.1 miles later I did with Sarah Beth. Within the Lipscomb University College of Business, a running group is emerging, creating a platform for community—a chance to get to know our students and reinforce camaraderie among us. What started in 2010 as a sort of joke about starting a running club within the College of Business has emerged an idea with strong legs. It’s not uncommon to see congratulatory posters on office doors as faculty and staff participate in big races, like Lipscomb’s Randy Bostic (’97) finishing his second Iron Man Triathlon or Lisa Shacklett (MBA ’09) completing her first full marathon. We often talk training runs, running shoes and technical T-shirts in the hallways.
We kicked off our first College of Business half marathon team in 2011 with over 15 students, faculty and staff running together. Lately, we’ve recruited team members (faculty, staff, students, alumni and friends) to run with us in Nashville’s 2012 St. Jude Country Music Marathon in April. The team raised money for a new interactive directory and information board in the lobby of Swang. Mile 7 could have been my hardest mile. But it wasn’t. It was the mile I knew I would finish the race because I remembered God’s blessing of community. At that moment I knew I wouldn’t be running alone. I’m thankful for the academic community and family of the College of Business. Just like in that sea of 35,000 runners, I know I’m not alone. If you’re interested in running with the College of Business team or helping it to reach its goal, email laura.williams@lipscomb.edu for more information.
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A r o u n d th e Co l l e g e
Goodman, Costello Named As ExecutivesIn-Residence
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he College of Business has announced that it has added two new executives-in-residence, each beginning in the spring of 2012. Former Lyric Street Records CEO Randy Goodman and former NASBA CEO David Costello will begin to serve in 2012 as part time instructors and mentors to the College’s students. Goodman, a 1977 graduate of Lipscomb University, went on to a distinguished career as in the music and entertainment industry, most recently heading Disney’s Lyric Street Records unit. During his career, he guided the careers of such luminaries as Rascal Flatts, SHeDAISY and Aaron Tippin as well as American Idol alums, Josh Gracin and Bucky Covington. Costello, a 1964 Lipscomb graduate, graduated with a degree in accounting and eventually headed the National Association of State Boards of Accountancy, an organization spanning all 50 states and which, among other services, administers the Certified Public Accounting examination for all professional candidates. Their duties as executives-in-residence will include some teaching, some mentoring of students, and some development assistance as the college continues to build its financial support in the business community. “We are honored to add Randy and David to our faculty,” said Dean Turney Stevens. “They bring a wealth of real world experience at the highest levels of national and global business and their experiences and insights will be invaluable to our students as they begin their careers.”
By Associate Professor Jeff Jewell
S
ince January 2003 Lipscomb University has been a proud participant in the Tennessee Valley Authority Investment Challenge Program. Through this program TVA allows students at 24 Universities in its service region to obtain experience managing a “live money” investment portfolio. Students at each of the 24 schools perform investment analysis, design portfolios, and make buy and sell decisions involving real companies, real stocks, and real dollars. Each of the student teams competes against an investment benchmark (typically the S&P 500 index) and against each other for bragging rights and for cash performance awards. Lipscomb’s Investment Challenge Team regularly competes against regional heavyweights like the University of Tennessee, Vanderbilt, the University of Mississippi and the University of Kentucky. Our student teams have consistently performed very well, both in an absolute and a relative sense. In the just-completed 2011 competition LU placed fifth, with an annual return of 4.04%. This compares very favorably with the S&P 500 return of 2.11% for the year. This fifth place finish comes on the heels of a second place finish (in the one-year return category) in 2010 and a first place finish in that category in 2009. Lipscomb placed first in the rolling three-year performance category. This excellent performance over the last three years has earned the school almost $30,000 in cash performance awards from TVA. Actual returns for the Lipscomb team, the S&P 500 index, and the all-school average for the Investment Challenge Program (ICP) appear in the table below. Time Period
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Lipscomb University students are way ahead of the game in becoming future business leaders of America.
S
tudents In Free Enterprise (SIFE) is an international organization that brings today’s business leaders and university students together. The goals of the organization are to give the business executives direct access to the most desirable campus hires and to give students the opportunity to showcase their talents before the executives. Students devote time and energy on community empowerment projects and present their work to the top management of SIFE sponsor companies at regional, national and international competitions. The teams are judged based on the environmental, economic and social impact of their projects and the quality of their presentation.
Compound avg. return For 2009–2011
25
Martin Grube, Valerie Winkler, Wayne Shen, Angela Han, Andrew McArthur, Courtney Watts and Max Ralafiarindaza
Lipscomb University SIFE was orga-
Competition, on April 2, and now qualify
nized in January 2010 and immediately
to compete at the SIFE National Competi-
became recognized as a world class team.
tion in Kansas City.
After only two and a half months Lip-
This is the third time in three years the
scomb University SIFE received awards for
Lipscomb team has won. 48 teams competed
“Rookie of the Year” and placed at the top
and Lipscomb won its division. Each team
of its league in the regional competition
made a 24-minute presentation about three
in Atlanta, Ga. In 2012 the Students in
community service projects and their results.
Free Enterprise (SIFE) are shooting for the
The next step is to present the projects
stars. The student organization just won
at the National SIFE competition in Kansas
its division at the SIFE Atlanta Regional
City, Mo. on May 22-24.
Patrick Chaffin Alum of the Year
Compound avg. return For 2003–2011
20
Patrick Chaffin (’96)
10 4.04%
5 % Returns
Lipscomb
15.92%
14.09%
12.50%
15
0
By Leston Andrew McArthur (’12)
2011 30.34%
7.26%
6.14% 2.11%
0.21% S&P 500
ICP Average
Lipscomb’s 2011 TVA Investment Challenge Team Members: Spring 2011: Blake Brooks, Victoria Fowler, Chase McAnally, Justin Richardson Summer 2011: Taylor Constantine, Johnny Rich, Nyssa Rogers Fall 2011: Russ Aiken, Jordan Dobberstein, Matthew Johnson, Noaritamby Rakotoarilina
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Students in Free Enterprise
Beating The Market
N
Gaylord Entertainment executive Chaffin named 2011 Young Alumnus of the Year
ashville business executive Patrick Chaffin, vice president of strategic planning and investor relations for Nashville-based Gaylord Entertainment, was named Lipscomb University’s 2011 Young Alumnus of the Year in November. Chaffin was the guest at a luncheon in his honor and made comments at the winter 2011 commencement ceremony on Saturday, Dec. 17. A 1996 graduate, Chaffin is the primary contact for Gaylord Entertainment and its shareholders across the country regarding the company’s performance and outlook. He is responsible, too, for operations analysis and strategic planning.
Chaffin played a key role in the days following the Nashville flood in May 2010. When major portions of the Gaylord Opryland Hotel were inundated by waters from the Cumberland River, Patrick was the central point of contact for Wall Street analysts and shareholders concerned for their investment. “The Young Alumnus of the Year Award is one of the highest forms of recognition given by Lipscomb University and The National Alumni Association. Patrick Chaffin exemplifies the Christian business leader we hold up to our students, alumni and community. We are so proud to claim him as one of our alums,” says Bennie Harris, vice president for development and alumni relations at Lipscomb.
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As America prepares for the next generation of TVs, the College of Business prepares to enter the new digital era too.
By Sherry Stinson
he cameras were being positioned. Microphones were being adjusted and modulated. The lights made the studio as bright as the daylight that could find no way into the windowless, carefully soundproofed television studio. The set of Conversations with the Dean was almost ready for a new episode as Dean Turney Stevens and his guest for the weekly program took their seats. Recorded “live-to-video” and distributed on demand through the university’s website as well as through emails mailed to more than 7,500 stakeholders, the program has become an increasingly important strategic teaching and outreach tool of the College of Business. And this one program may be just the beginning, according to Stevens. By 2016, half of all U.S. household television sets will be equipped with Internet
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access. By then, virtually every mobile phone in the world will be a smartphone, each also having internet access and making phones into mini-televisions also. Not only will this change the way television is delivered but Stevens believes it will change the way colleges of business deliver learning and communicate with stakeholders. “We’re already taking some small steps toward the goal of using video as a primary tool of communications,” Stevens said recently as he prepared to record his weekly program. “More than a year ago, we began to air this interview program patterned after such well-known shows as Charlie Rose and featuring CEOs and other outstanding campus guests. Now we are thinking of more new ways to utilize video even more widely as a tool.” Each week he hosts the program, which is then uploded to YouTube and posted on
Fridays on the college’s website. It is also pushed out by email as a Lipscomb Business Blog to students, alumni, and community thought leaders. Guests have included a world famous venture capitalist from Silicon Valley, former senior government officials, a renowned eye surgeon and health care entrepreneur in China, numerous CEOs and other leaders of both local and national prominence. Typically the guests have been invited to campus to speak to students or other groups, although Stevens says he and his staff are increasingly reaching out to guests to ask them to appear because of news their companies have announced or other topics of current and compelling interest. The program grew out of the completion in the fall of 2010 of the Bill and Dot Mullican Studio in Ezell Center. This stateof-the-art, high definition studio complex offers users in the campus community both the technology and the engineering staff
to produce video of the highest quality and sophistication. When the studio was completed and the department of communications and journalism had hired the former chief engineer from Nashville’s NBC affiliate, the stage was set to approach learning very differently. “We saw this facility as a tremendous opportunity to begin to utilize high definition video as a learning tool,” Stevens said. “The first college-produced program, which happened almost by accident, has exceeded even our most optimistic expectations in terms of viewership and comments from viewers.” What is the future of television in the college of business? “We will deliver more and more traditional courses and even full degrees through online video,” Stevens said. “Doing this is really not all that innovative because many are already doing it. Our opportunity is to go further and to utilize the campus studio to develop other creative programming designed to communicate through video and to meet our students and stakeholders where they are spending their time, which is watching tv.” The new world of television took a major step forward recently when Google announced that it was acquiring YouTube for $1.65 billion and adding more than 100 new “channels.” Many have speculated that this will set off a rush to develop new programming not seen since the rise of cable television more than twenty years ago. “I can see colleges of business developing their own channels,” Stevens said. “Because all content is delivered on demand, unlike cable tv which requires 24/7 programming to create a new channel, we believe the next generation of growth in TV will be the creation of lots of highly specialized delivery channels and there could certainly be a channel dedicated to delivery of content
focused on business education.” As the college prepares plans for the enlargement and complete renovation of the Axel Swang Center, it will be doing so with an eye toward state of the art video capability in each classroom. “For some time, each classroom on the Lipscomb campus has had internet connectivity,” Stevens said, “but the opportunity now is to look for ways to leverage faculty resources through video-based delivery of
learning to remote sites, by capturing classroom lectures for later study by students, and by tying classrooms in America to those in, say, China, for delivery of joint learning through simulcast.” New viewers can access Conversations with the Dean by visiting http://business.lipscomb.edu and can subscribe free of charge to the weekly emails by sending your email address to turney.stevens@ lipscomb.edu.
Dean Turney Stevens and Randy Goodman.
Conversations with the Dean Dean Stevens has conducted a series of interviews with a wide range of businesspersons, academics and nationally recognized individuals regarding business issues. Several of those interviews concern business ethics, including interviews with former HealthSouth executives Bill Owens and Weston Smith, both of whom served prison terms as the result of committing accounting fraud while at HealthSouth.
business.lipscomb.edu —D.C.
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Business with a Purpose Avenue Bank CEO honored with Dean Institute Leadership and Integrity Award The staff of the Department of Supply Chain Management
Hang Seng Management College College of Business Announces China Partner University Agreement
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ipscomb University’s Dean Institute for Corporate Governance and Integrity honored Ron Samuels, chair and CEO of Avenue Bank, as the recipient of the second annual Dean Institute Leadership and Integrity Award during a special event this year at the downtown branch of the Nashville Public Library. “(Ron) Samuels has created a new standard of customer service and community involvement in the banking industry through his consistent, personal approach at Avenue Bank,” said Dan Harrell, Chairman of the Dean Institute board of advisors. “As a strong Christian, as well as a businessman, he is just as committed to treating his customers with respect and improving his community as he is to making a profit for his employees and shareholders.” This year the Dean Institute has added a new honor: the Business with a Purpose Award, presented to companies who have demonstrated a commitment to mission as well as moneymaking. The six companies to be honored as Businesses with a Purpose are: • Bridgestone Americas Inc. • Cracker Barrel Old Country Store • Jackson National Life Insurance Company • Lave MD (Mobile Medical Disaster Relief) • Nashville Business Journal • William Morris Endeavor The Hilton and Sallie Dean Institute for Corporate Governance and Leadership and Integrity Awards recognize the challenges in ethical business practices and fosters innovative ways to overcome them. The event sponsor is the Purcell Institute; the presenting sponsor is the NASBA Center for the Public Trust; and the medallion sponsor is Glover Group Entertainment.
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he College of Business has concluded an agreement that calls for Lipscomb University and the Hang Seng Management College in Hong Kong, China, to enter into a partnership to offer a supply chain management concentration within Lipscomb’s management degree and to create an exchange program between the two universities. Beginning in 2013, students at Lipscomb will be able to select a concentration in supply chain management. Students making this election will study three years in the United States on the Lipscomb campus and will spend a full term in residence at Hang Seng’s campus just outside Hong Kong. Hang Seng has one of Asia’s leading supply chain management programs and one of the outstanding programs globally. “If we think about the last decade, we have witnessed significant changes in the global business environment. Our world has become and is becoming more integrated. In many instances 25 to 40 percent of business is transacted globally. The world of supply chain management is more complex, more diverse and more uncertain than ever before,” says Mike Kendrick, associate dean of global studies at Lipscomb University. There are almost 200 companies based in Nashville with Asian ownership. Major global companies such as Nissan and Bridgestone have their U.S. operations here, and there are a growing number of domestic companies placing an increasing emphasis on supply chain management. With this information at hand, Lipscomb knew it was vital to engage a partner that brings global expertise to our students’ education in supply chain management. “And to be able to spend a semester abroad in one of the great cities of the world, Hong Kong is just icing on the cake,” says Kendrick. Details of the program will be announced at the beginning of the fall semester 2012, with the first students able to participate in this global residency program beginning in spring 2013.