School of Business From the Dean… Although the economic climate remains rather dreary, there is much about which to be optimistic in the School of Business. We ended the calendar year with affirmation of our strategic initiatives, vision, and mission by all of our constituencies. Our vision is: The School of Business at HSU will be recognized as the school of choice leading the educational, entrepreneurial, and economic development of southwestern Arkansas and the surrounding region.
Our mission is: The School of Business provides an educational environment in which excellent faculty, enthusiastic students, and engaged partners collaborate in experiential learning opportunities.
Jeffrey L. Hamm
We continue to increase the opportunities for learning “beyond the classroom.” On December 8, the School hosted its first Business Plan Competition. Four teams received cash awards following their presentations and judging by a panel of business people from the community. The excitement continued as the top three teams competed against winning teams from the university “across the street” in the first Business Battle of the Ravine on February 2, 2011. The student teams then submitted their business plans to the Arkansas Governors Cup competition in Little Rock. One team, Mosea’s, was selected to be among the top twelve teams. The Business Mentorship Experience is enjoying increased enrollment and excitement. This elective class has been increased from a one semester hour class to two semester hours. Businesses and students are showing renewed interest in the Internship program. The School of Business Club spent two days in Dallas, Texas, in March. Students visited locations related to their field of interest. The School of Business truly is an exciting place!
Spring Events…
Inside this issue: Students
2
Alumni
2
Aviation
3
April 21...Business Mentorship Experience Luncheon
SBTDC
3
April 21...Beta Gamma Sigma Induction Ceremony
Faculty
3
April 21...Hall of Fame Induction and Awards Banquet
May 13...Commencement
Business Plan Competition
4
January 19...Spring classes begin
February 2...Business Battle of the Ravine
March 21-25...Spring Break
April 21...Business Advisory Council Meeting
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Students... The SOBC hosted its second annual Business Networking Social on September 29, 2011. Thirty-two individuals representing twenty-five firms, at least fifty-five students, and many faculty attended the event. It continues to be a very popular event!
Alumni... Four Henderson graduates receive honors
Four Henderson graduates were honored at the CFO of the Year Awards on November 16, 2010, sponsored by Arkansas Business. The event honors chief financial officers at banks, private firms and nonprofits throughout Arkansas. The Henderson graduates honored were: Johnny Hudson (1967), Lifetime Achievement in Accounting; Robert Fehlman (1986), CFO Lifetime Achievement Award; Chris Wewers (1992), Bank CFO of the Year; and Mike Myers (1977), Nonprofit CFO of the Year. Johnny Hudson is currently serving as the Chairman of the HSU Board of Trustees. Mike Myers has recently been appointed as a new member of the HSU Board. Both serve on the School of Business Advisory Council. Chris Wewers has accepted an invitation to join the Business Advisory Council in April, 2011. Update (3/13)...Johnny Hudson was awarded the 2011 Public Service Award by the Arkansas Society of Certified Public Accountants.
Johnny Hudson
Mike Myers
Chris Wewers
Dr. James Vardaman
Founders Day On October 7, 2010, Henderson State University inducted five individuals into the Henderson Academy. The School of Business inductee was Dr. James Vardaman. After graduating from HSU with a degree in business (2001), James completed an M.B.A. from Arkansas State University (2004) and a Ph.D. from the University of Memphis (2009). He is currently an assistant professor at Mississippi State University.
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Aviation...
The Department of Aviation hosted its annual Ole Timers Day last October. The group consists of retired army aviators, most of whom are retired members of the Arkansas Army National Guard. Not only is the group instrumental in raising the level of interest in aviation, they have raised more than $7,000 to support HSU aviation students. A morning reception was followed by an update on the Department of Aviation and lunch at the airfield. Ole Timers Day is the first Wednesday each October.
SBTDC...
Kelley Massey Director
The Center had a very good year in 2010 and exceeded its goals. We were involved in 212 client consulting cases, assisted with 18 new business start-ups, assisted with over $11 million in capital formation for small businesses, and participated in over 40 School of Business student projects. Seventy-five training seminars were conducted with 693 attendees. The Center helped in the creation of 72 new jobs and helped to save 158 jobs in our territory. Additionally, the Center works with AREDA (Arkadelphia Regional Economic Development Alliance) on business retention and expansion efforts. Our work involves assisting prospective businesses with site selection, developing a business plan to submit to the EDCCC (Economic Development Corporation of Clark County), and assessing needs related to healthcare, workers’ compensation, drug screening, etc. Let us know if we can help you!
Faculty... Almand, Andy—”SSARS 19:Changes Ahead,” presentation to the DeGray Chapter of the ASCPA (November 2010). Claar, Victor—“Grieving the Good of Others: The Role of Envy in Economics.” Project on Values and Capitalism, American Enterprise Institute, Washington, D.C. (September 2010). Claar, Victor—“Searching for Meaningful Work: Reflections on the 2010 Economics Nobel.” Acton Commentary (October 2010).
Jonathan Moss, a faculty member in the Department of Aviation, was selected by the FAA as Arkansas Flight Instructor of the Year for 2011 and Flight Instructor of the year for the Southwest Region. The states included in this region are Arkansas, Louisiana, Oklahoma, Texas, and New Mexico. Congratulations, Jonathan!
Hamm, Jeffrey—”The IRS Gets an Education” reprinted in The Journal Entry (Fall 2010). Smith, Frank—”Do Layoffs Impact the Probability of Bankruptcy?” in The Journal of Academy of Business and Economics (Fall 2010). Smith, Frank, P. English, and L. Brooks— ”The Stock Market Reaction to Layoffs: A Long-term Study” in the Review of Business Research (Fall 2010).
First Annual Business Plan Competition
School of Business 1100 Henderson Street Box 7801 Arkadelphia, AR 71999-0001
1st—NW Arkansas Greenergy
The HSU Business Plan Competition was introduced in the 2010-2011 academic year to encourage entrepreneurship among HSU business students. The competition was open to all students enrolled at Henderson State University. A business plan for a seed, start-up or early stage venture was required. At least one team member was to have a key role in the company’s management team. In order to receive the cash prizes for placing in the HSU Business Plan Competition, the top three teams were required to participate in the Business Battle of the Ravine (to be held February 2, 2011) as well as submit their winning plans to the Donald W. Reynolds Governor’s Cup, the premier business plan competition among university students in the state of Arkansas. The competition was held on December 8. Professionals with various business backgrounds were chosen to judge the competition (pictured). The judges said that they were “pleasantly surprised” by the ideas presented by the teams. The winning teams were: 1st ($4,000)-NW Arkansas Greenergy (Cayla Smith, Cody Gourley, Robert Rima, Barrett Broadfoot (not pictured)); 2nd ($3,000)Southern Pine Sportsman Club (Jake Leonard, Nick Hardesty); 3rd ($2,000)-Mosea’s (Chelsea Dickson, Morgan Robinson); and 4th ($1,000)-Solar Technologies (Nick Brown, Dakota Lucy, Tiffany Herring).
Business Battle of the Ravine Judges of the HSU competition, from left to right: Andrew Kneebone, Brenda Manning, R.C. Smith, Chris Turnage, Shelly Loe.
Judges for the Business Battle of the Ravine included Curtis Arnold, Chris Wewers, Johnny Hudson, Scott Fife, and Jimmy Bolt. Pictured with the judges are the third place winners (Mosea’s) of HSU.
On February 2, 2011, student teams from Henderson State University and Ouachita Baptist University competed in the first annual Business Battle of the Ravine. The top three teams from the two separate university business plan competitions competed for cash prizes. Five judges (see picture below) evaluated the business plans and the presentations before announcing the winners. Cash prizes of $4,000, $3,000, $2,000, and $1,000 were awarded to the top four teams. The HSU teams of Mosea’s and Southern Pine Sportsman Club placed third and fourth in the Battle. Update(3/4)...Mosea’s was selected among the top twelve teams in Arkansas to compete in the Arkansas Governor’s Cup! Stay tuned...