Dean's Report 2019-2020 by Isenberg School of Management

DEAN’S REPORT

Isenberg School of Management

2019 – 2020

Ensuring that we’re instilling an innovative and inclusive mindset in tomorrow’s leaders means Isenberg graduates will continue to change the way businesses are run for generations. ANNE P. MASSEY DEAN AND THOMAS O’BRIEN ENDOWED CHAIR

I am constantly working with inquisitive individuals with unique experiences, both personally and professionally, which has made my studies enjoyable and interesting. Isenberg is a community of individuals and fosters a feeling of connection between faculty and students. CASSANDRA RAFFI ‘20

In June, Dean Massey announced three new fellowships to support outstanding faculty researchers:

INVESTMENT IN CLASSROOM INNOVATION ≤ THE ISENBERG

CHARGING DE&I FORWARD

COMMUNITY SHARED ITS Dean Massey initiated the new Isenberg Teaching PRIDE ON SOCIAL MEDIA.

Fellowship during the summer of 2020 with the goal of improving student engagement during classes held With an enormous amount of In early 2020, following these efforts, the leadership team and I identified our either person that or over the internet. The five recipients energy and being geared in these priorities and topurgency priorities. Investments thein initiatives underlie areIsenberg’s working positioning actively to among develop solutions to teaching toward organizations each of themconfronting are essential to further advancing challenges, are also charged with sharing and undoing racism in theCollectively, our priorities the systemic top business schools. would and focusthey on creating Albert States, Assaf, professor Fousseni Chabi-Yo, Elaine Wang, associate strategies other instructors. “We are classroom United Isenberg for recognizes opportunities students and faculty, nurturing learningwith in innovative ways, and we PhDhave coordinator in associate professor and professor ofthe accounting, technology ambassadors for entire faculty,” that the unique power and sharing knowledge and best practices. ISENBERG’S TEAM Isenberg’s hospitality and PhD coordinator for the has also been named a MET AND COMPETED emphasizes Melissa Baker, associate professor and privilege to enact change in tourism management finance department, has Dean’s Research Fellow. ONLINE TO WIN of Hospitality & Tourism Management. two worlds: the business world and Then, the Covid-19 pandemic happened. THE INTERNATIONAL department, has been been named a Dean’s She studies the influence BUSINESS ETHICS The other Fellows are Susan Boyer, Isenberg’s that of higher education. We have named a Dean’s Research Research Fellow. Chabi‑Yo’s of language on investors’ CASE COMPETITION. ≥ Fellow. Assaf’s research research on and and the Services group; director Technology outlined critical new initiatives and respond We rushed to adapt and (in focuses this report, you’ll of read aboutjudgments howSupport on tourism and transport switched financial econometrics, effects Robert Nakosteen, professor and department chair actions weour will undertake to move completely community to remote instruction in a matter ofof situational economics and hospitality, behavioral finance, factors (i.e., the decision for the Operations Information Management us forward: weeks), but as we were doing so, we thought about our priorities&and management and theoretical and empirical making environment department; Shirley Shmerling, senior lecturer realized that instead of going on the backburner, they should take on marketing, econometrics asset pricing, derivative and context) on for Operations & Information Management; and heightened importance: and statistics, and finance pricing instruments, auditors’ judgments of Isenberg Diversity, Equity, Pamela lecturer for Accounting. has been published in international finance, andTrafford, senior uncertain estimates. and Inclusion Committee the European Journal of investor preferencesThe andschool’s focus Wang, who serves teaching as on innovative has also Attract Exceptional Students Isenberg Diversity, Equity, Operational Research, beliefs. He also studies coordinator forClass the of 2020 been on the mindsPhD of students. The Sustain Faculty Excellence Tourism Management, theCouncil tail risk and dependence, accounting department, and Inclusion Senior Gift Campaign raised more than $5,000 to EnableStudent Career Success Annals of Tourism Research, expected Treasury bond has also investigated be put toward programs thatconsequences include the Fellows Create GlobalTrainings Citizens and Inclusive Isenberg Community the Journal of International returns, optionsLeaders on unintended initiative as well asofthe development of a ‘technology MAY Inspire Innovation in Teaching and Learning Marketing, and many Treasury bond futures, and financial reporting Conscious Business participating in caseand competitions. congratulations to The university plans to host the others, he is currently commodities. Chabi‑Yo’s and auditing practices sandbox’ forand students and faculty, which will support Collaborations Although they did not get journal to all travel the Class 2020. for 2020 onhas campus for the editor of Using the in experience on operational decisions developmental programming faculty and staff the expertise at graduates ourresearch disposal to appeared improve ourof students and present in person, Isenberg an in-person graduation when Tourism Economics and the Journal of Financial byasmanagers. Sheended, has New Course: Intro to Diversity As soon the semester around new technologies, innovative have and supporting our faculty members’ efforts to pursue meaningful recognize teams won associate International the pandemic is no longer a threat, editor of three Economics, Review of published extensively in Isenberg faculty members began &the Inclusion in Business teaching, and provide support for the testing of research make us effective regardless of whether we’re sitting in the beautiful Business Ethics Competition meantimeStudies, IsenbergJournal otherCase journals. He also won but in theFinancial herfordiscipline’s premier planning enhanced remote new pedagogy. Business Innovation Hub or working from a remote location. Having robust, and placed the as finalists in two pulled together a massive 2020 Lifetime Research of Economic Theory, journals, including learning for future semesters, with national accounting virtual celebration for graduating flexible career services available is always important, more when classReview, While wecompetitions. speak of diversity and Achievement Award from Management Science, but even The Accounting the goal ofso creating structures students. On May of 8,in video the International Council Journal Financial Journal of Accounting that would bethat adaptable to whatever our students and face turmoil themessages job and market. And ensuring inclusion in our mission andalumni our from Dean Massey, seven senior and on Hotel, Restaurant, and Quantitative Analysis, Research, and Journaland of combination of face-to-face we’re instilling anWe inclusive in tomorrow’s leaders means Isenberg vision, that is not enough. must mindset speakers,other faculty members from Institutional Education. publications. Accounting and Economics. online teaching the pandemic would will work, continue to change the way for generations— bring it toalumni life in our oureach department, and businesses a variety are run call for in the fall and beyond. necessity, as we can see from our painful reckoning with anti-Black racism academic aand curricular activities, of supportive alumni went live, all these past several months. offering advice, encouragement, and our everyday interactions. ONGOING Dean Massey also announced a new program called the Teaching with Digital Thisfirst preparation paidspring off when We, in Isenberg, are dedicated toAward, which will be awarded for the Technology time next to the university announced that all faculty nominated bycommitments students for their innovative use of digital technology we’reand doubling we had already decided advancingSo equity justice down for all.on the classes for the fall 2020 semester to improve teaching to make, even as we are rampingand up learning. the speed at which we make them. will be taught remotely. Isenberg Throughout this reportvisit you’ll see examples of how education we’re supporting and To learn more and get involved, The atmosphere here fosters My business is readyhas to continue offering developing initiatives that will get really us where we want be.engaging, A time of crisis instruction quality creativeisenberg.umass.edu/diversity. research. My mentors paid off. to It’s helped me B Y T H Eis NaUtime M B E to R Spush forward decisively. Isenberg is a great school with we’re online student advising now; have supported and nudged to do a lot of thingsalong better and career services, investing fully in the changes we need to become an even better one, so we to ensure me to excel as an educator and to have a greater impact. our community is safe while our can face the challenges of the short term and position ourselves as a leader and researcher. learning and student experience in the long term. CHRISTOPHER SCOTT,stay MD,strong CPE,and relevant. While

We take strength from the fact that, as a community, we live a spirit of innovation and perseverance. This spirit and the Isenberg drive bring out the best in us and it will help We need to be more and more us through these challenges. ONLINE MBA STUDENTthe pandemic creates challenges, SCOTT JACKSON, PHD CANDIDATE, Graduate Undergraduate Full-Time agile; need toEndowed figure out how I’m very pleased to be making this journey with you all!wewe view Isenberg’s response ACCOUNTINGEnrollment Students Professors Professors as an opportunity to adapt and to transform education during innovate to better serve our Anne P. Massey current and future students. these unprecedented times. DEAN AND THOMAS O’BRIEN ENDOWED Public Business School in the CHAIR Online MBA in the Nation,

3,770

1,769

117

DEAN ANNE MASSEY

Northeast, 6 years running, U.S. News & World Report 2020

Financial Times, 2020

SHIRLEY SHMERLING

S T UDE N T E X P E R IE NC E

FACULTY FELLOWSHIPS

FA C ULT Y E XC E L L E NC E

PA NDE MIC R E S P ON S E

DE A N ’ S L E T T E R

2019–2020 2019–2020 DEAN’S 2019–2020 REPORT DEAN’S 2019–2020 REPORT DEAN’S REPORT DEAN’S REPORT

ISENBERG SCHOOL OF MANAGEMENT

From the Dean One year ago, I joined the Isenberg School of Management family as dean, and the last 12 months have confirmed to me that Isenberg is truly special. When I arrived, I knew the school boasted wonderful students, amazing faculty members, and engaged alumni and industry friends, all collaborating in ways that had led to our rise in numerous rankings. But what would it take for us to sustain and advance a reputation for excellence in all we do? I spent the fall meeting with various internal and external stakeholders to explore this question and discern how we could continue our positive trajectory.

In June, Dean Massey announced three new fellowships to support outstanding faculty researchers:

INVESTMENT IN CLASSROOM INNOVATION ≤ THE ISENBERG

CHARGING DE&I FORWARD

COMMUNITY SHARED ITS Dean Massey initiated the new Isenberg Teaching PRIDE ON SOCIAL MEDIA.

Fellowship during the summer of 2020 with the goal of improving student engagement during classes held With an enormous amount of In early 2020, following these efforts, the leadership team and I identified our either person that or over the internet. The five recipients energy and being geared in these priorities and topurgency priorities. Investments thein initiatives underlie areIsenberg’s working positioning actively to among develop solutions to teaching toward organizations each of themconfronting are essential to further advancing challenges, are also charged with sharing and undoing racism in theCollectively, our priorities the systemic top business schools. would and focusthey on creating Albert States, Assaf, professor Fousseni Chabi-Yo, Elaine Wang, associate strategies other instructors. “We are classroom United Isenberg for recognizes opportunities students and faculty, nurturing learningwith in innovative ways, and we PhDhave coordinator in associate professor and professor ofthe accounting, technology ambassadors for entire faculty,” that the unique power and sharing knowledge and best practices. ISENBERG’S TEAM Isenberg’s hospitality and PhD coordinator for the has also been named a MET AND COMPETED emphasizes Melissa Baker, associate professor and privilege to enact change in tourism management finance department, has Dean’s Research Fellow. ONLINE TO WIN of Hospitality & Tourism Management. two worlds: the business world and Then, the Covid-19 pandemic happened. THE INTERNATIONAL department, has been been named a Dean’s She studies the influence BUSINESS ETHICS The other Fellows are Susan Boyer, Isenberg’s that of higher education. We have named a Dean’s Research Research Fellow. Chabi‑Yo’s of language on investors’ CASE COMPETITION. ≥ Fellow. Assaf’s research research on and and the Services group; director Technology outlined critical new initiatives and respond We rushed to adapt and (in focuses this report, you’ll of read aboutjudgments howSupport on tourism and transport switched financial econometrics, effects Robert Nakosteen, professor and department chair actions weour will undertake to move completely community to remote instruction in a matter ofof situational economics and hospitality, behavioral finance, factors (i.e., the decision for the Operations Information Management us forward: weeks), but as we were doing so, we thought about our priorities&and management and theoretical and empirical making environment department; Shirley Shmerling, senior lecturer realized that instead of going on the backburner, they should take on marketing, econometrics asset pricing, derivative and context) on for Operations & Information Management; and heightened importance: and statistics, and finance pricing instruments, auditors’ judgments of Isenberg Diversity, Equity, Pamela lecturer for Accounting. has been published in international finance, andTrafford, senior uncertain estimates. and Inclusion Committee the European Journal of investor preferencesThe andschool’s focus Wang, who serves teaching as on innovative has also Attract Exceptional Students Isenberg Diversity, Equity, Operational Research, beliefs. He also studies coordinator forClass the of 2020 been on the mindsPhD of students. The Sustain Faculty Excellence Tourism Management, theCouncil tail risk and dependence, accounting department, and Inclusion Senior Gift Campaign raised more than $5,000 to EnableStudent Career Success Annals of Tourism Research, expected Treasury bond has also investigated be put toward programs thatconsequences include the Fellows Create GlobalTrainings Citizens and Inclusive Isenberg Community the Journal of International returns, optionsLeaders on unintended initiative as well asofthe development of a ‘technology MAY Inspire Innovation in Teaching and Learning Marketing, and many Treasury bond futures, and financial reporting Conscious Business participating in caseand competitions. congratulations to The university plans to host the others, he is currently commodities. Chabi‑Yo’s and auditing practices sandbox’ forand students and faculty, which will support Collaborations Although they did not get journal to all travel the Class 2020. for 2020 onhas campus for the editor of Using the in experience on operational decisions developmental programming faculty and staff the expertise at graduates ourresearch disposal to appeared improve ourof students and present in person, Isenberg an in-person graduation when Tourism Economics and the Journal of Financial byasmanagers. Sheended, has New Course: Intro to Diversity As soon the semester around new technologies, innovative have and supporting our faculty members’ efforts to pursue meaningful recognize teams won associate International the pandemic is no longer a threat, editor of three Economics, Review of published extensively in Isenberg faculty members began &the Inclusion in Business teaching, and provide support for the testing of research make us effective regardless of whether we’re sitting in the beautiful Business Ethics Competition meantimeStudies, IsenbergJournal otherCase journals. He also won but in theFinancial herfordiscipline’s premier planning enhanced remote new pedagogy. Business Innovation Hub or working from a remote location. Having robust, and placed the as finalists in two pulled together a massive 2020 Lifetime Research of Economic Theory, journals, including learning for future semesters, with national accounting virtual celebration for graduating flexible career services available is always important, more when classReview, While wecompetitions. speak of diversity and Achievement Award from Management Science, but even The Accounting the goal ofso creating structures students. On May of 8,in video the International Council Journal Financial Journal of Accounting that would bethat adaptable to whatever our students and face turmoil themessages job and market. And ensuring inclusion in our mission andalumni our from Dean Massey, seven senior and on Hotel, Restaurant, and Quantitative Analysis, Research, and Journaland of combination of face-to-face we’re instilling anWe inclusive in tomorrow’s leaders means Isenberg vision, that is not enough. must mindset speakers,other faculty members from Institutional Education. publications. Accounting and Economics. online teaching the pandemic would will work, continue to change the way for generations— bring it toalumni life in our oureach department, and businesses a variety are run call for in the fall and beyond. necessity, as we can see from our painful reckoning with anti-Black racism academic aand curricular activities, of supportive alumni went live, all these past several months. offering advice, encouragement, and our everyday interactions. ONGOING Dean Massey also announced a new program called the Teaching with Digital Thisfirst preparation paidspring off when We, in Isenberg, are dedicated toAward, which will be awarded for the Technology time next to the university announced that all faculty nominated bycommitments students for their innovative use of digital technology we’reand doubling we had already decided advancingSo equity justice down for all.on the classes for the fall 2020 semester to improve teaching to make, even as we are rampingand up learning. the speed at which we make them. will be taught remotely. Isenberg Throughout reportvisit you’ll see examples of how we’re supporting and To learn more and getthis involved, is ready to continue offering developing initiatives that will get us where we want to be.engaging, A time of crisis instruction isenberg.umass.edu/diversity. quality B Y T H Eis NaUtime M B E to R Spush forward decisively. Isenberg is a great school along with we’re online student advising now; career investing fully in the changes we need to become an even and better one,services, so we to ensure our community is safe while our can face the challenges of the short term and position ourselves as a leader learning and student experience in the long term. stay strong and relevant. While

We take strength from the fact that, as a community, we live a spirit of innovation and perseverance. This spirit and the Isenberg drive bring out the best in us and it will help We need to be more and more us through these challenges. the pandemic creates challenges, Undergraduate Graduate Full-Time agile; need toEndowed figure out how I’m very pleased to be Students making this journey with you all!wewe view Isenberg’s response Enrollment Professors Professors as an opportunity to adapt and to transform education during innovate to better serve our Anne P. Massey current and future students. these unprecedented times. DEAN AND THOMAS O’BRIEN ENDOWED Public Business School in the CHAIR Online MBA in the Nation,

3,770

1,769

117

DEAN ANNE MASSEY

Northeast, 6 years running, U.S. News & World Report 2020

Financial Times, 2020

SHIRLEY SHMERLING

S T UDE N T E X P E R IE NC E

FACULTY FELLOWSHIPS

FA C ULT Y E XC E L L E NC E

PA NDE MIC R E S P ON S E

DE A N ’ S L E T T E R

2019–2020 2019–2020 DEAN’S 2019–2020 REPORT DEAN’S 2019–2020 REPORT DEAN’S REPORT DEAN’S REPORT

ISENBERG SCHOOL OF MANAGEMENT

DEAN MASSEY ANSWERED STUDENT QUESTIONS DURING A SPRING WEBINAR. ≥

Pandemic Response Ingenuity, Flexibility, and Patience

The sudden shift from a typical spring semester to fully remote operations in the middle of March required an all-hands-on-deck response from the Isenberg community, from faculty members to administrators to students and even alumni. All class meetings, club events, advisor chats, study abroad programs, and day-today school functions had to be reimagined in the space of just a couple of weeks.

MARCH

APRIL

During spring break week Isenberg faculty members rushed to adjust their curricula, creating video lectures and planning Zoom meetings. The school’s Technology Support & Service group sprang into action to hook all instructors up to appropriate programs so they could connect effectively with students. Guest rooms were cleaned out to become office space and childhood bedrooms became classrooms.

Faculty members applied their expertise to the pandemic situation, quickly digging into relevant research projects: OIM Assistant Professor Zachary Sheffler started collecting data on the popularity of online cooperative video games. Professor Anna Nagurney, an expert in supply chain management, was interviewed for newspapers, magazines, TV stations, and podcasts, sharing her thoughts about when pandemic essentials such as toilet paper, surgical masks, and diapers would return to store shelves.

UMass Amherst Chancellor Kumble Subbaswamy announced that students would not return to campus after spring break, and that all classes would be delivered remotely.

Isenberg’s Undergraduate Programs Office moved operations online too, providing academic advising services through email, phone, and video meetings. The Chase Career Center began offering virtual career coaching sessions and even posted “walk-in hours” when students could get help connecting with employers and recruiters for jobs and internships.

To help students without experience studying remotely, current Isenberg Online MBA students offered tips for keeping up with schoolwork.

Dean Anne Massey, who has spent her career studying virtual team dynamics, focused efforts on clear communication, which included hosting livestreamed Q&A sessions with students and alumni. Students not only completed their classwork and participated in online club activities, they also continued

In June, Dean Massey announced three new fellowships to support outstanding faculty researchers:

INVESTMENT IN CLASSROOM INNOVATION ≤ THE ISENBERG

CHARGING DE&I FORWARD

COMMUNITY SHARED ITS Dean Massey initiated the new Isenberg Teaching PRIDE ON SOCIAL MEDIA.

Fellowship during the summer of 2020 with the goal of improving student engagement during classes held either in person or over the internet. The five recipients are working actively to develop solutions to teaching challenges, and they are also charged with sharing Fousseni Chabi-Yo, Elaine Wang, associate strategies with other instructors. “We are classroom associate professor and professor ofthe accounting, technology ambassadors for entire faculty,” PhD coordinator for the has also been named a emphasizes Melissa Baker, associate professor finance department, has Dean’s Research Fellow. of Hospitality & Tourism Management. been named a Dean’s She studies the influence The other Fellows are Susan Boyer, Isenberg’s Research Fellow. Chabi‑Yo’s of language on investors’ research focuses on judgments and and the Services group; director of Technology Support financial econometrics, of situational Robert Nakosteen,effects professor and department chair behavioral finance, factors (i.e., the decision for the Operations & Information Management management and theoretical and empirical making environment department; Shirley Shmerling, senior lecturer marketing, econometrics asset pricing, derivative and context) on for Operations & Information Management; and and statistics, and finance pricing instruments, auditors’ judgments of Isenberg Diversity, Equity, Pamela lecturer for Accounting. has been published in international finance, andTrafford, senior uncertain estimates. and Inclusion Committee the European Journal of investor preferencesThe andschool’s focus Wang, who serves teaching as on innovative has also Isenberg Diversity, Operational Research, Equity, beliefs. He also studies coordinator forClass the of 2020 been on the mindsPhD of students. The Tourism Management, theCouncil tail risk and dependence, accounting department, and Inclusion Student Senior Gift Campaign raised more than $5,000 to Annals of Tourism Research, expected Treasury bond has also investigated be put toward programs thatconsequences include the Fellows Isenberg Trainings returns, options on the JournalCommunity of International unintended initiative as well asofthe development of a ‘technology MAY Marketing, and many Treasury bond futures, and financial reporting Conscious Business participating in caseand competitions. congratulations to The university plans to host the others, he is currently commodities. Chabi‑Yo’s and auditing practices sandbox’ forand students and faculty, which will support Collaborations Although they did not get journal to travel the Class 2020. for 2020 graduates onhas campus for in editor of the research appeared on of operational decisions developmental programming faculty and staff and present in person, Isenberg an in-person graduation when Tourism Economics and byasmanagers. Sheended, has New Course: Intro to Diversity the Journal of Financial As soon the semester around new technologies, recognize innovative teams won associate International the pandemic is no longer a threat, editor of three Economics, Review of published extensively in Isenberg faculty members began &the Inclusion in Business teaching, and provide support for the testing of Business Ethics Competition meantimeStudies, IsenbergJournal otherCase journals. He also won but in theFinancial herfordiscipline’s premier planning enhanced remote new pedagogy. and placed the as finalists in two pulled together a massive 2020 Lifetime Research of Economic Theory, journals, including learning for future semesters, with national accounting virtual celebration for graduating While wecompetitions. speak of diversity Achievement Award from and Management Science, The Accounting the goal of creating classReview, structures students.Journal On May of 8, video messages the International Counciland our Financial and Journal of Accounting that would be adaptable to whatever inclusion in our mission Dean Massey, seven senior on Hotel, and Wefrom Research, and Journaland of combination of face-to-face vision, thatRestaurant, is not enough. must Quantitative Analysis, and speakers,other faculty members from Institutional Education. publications. Accounting and Economics. online teaching the pandemic would bring it to life in our work, oureach department, and a variety call for in the fall and beyond. academic and curricular activities, of supportive alumni went live, all offering advice, encouragement, and our everyday interactions. ONGOING Dean Massey also announced a new program called the Teaching with Digital Thisfirst preparation paidspring off when We, in Isenberg, are dedicated toAward, which will be awarded for the Technology time next to the university announced that all by students for their innovative use of digital technology advancing equity andfaculty justice nominated for all.

With an enormous amount of energy and urgency being geared toward organizations confronting and undoing systemic racism in the Albert States, Assaf, professor United Isenberg recognizes and we PhDhave coordinator in power that the unique ISENBERG’S TEAM Isenberg’s hospitality and MET AND COMPETED and privilege to enact change in tourism management ONLINE TO WIN two worlds: the world and THE INTERNATIONAL department, hasbusiness been BUSINESS ETHICS that of higher education. named a Dean’s Research We have CASE COMPETITION. ≥ Fellow. Assaf’s outlined criticalresearch new initiatives and on tourism and transport to move actions we will undertake economics and hospitality, us forward:

classes for the fall 2020 semester improve teaching We take strength fromto the fact that,andaslearning. a will be taught remotely. Isenberg To learn more and get involved, visit is ready to continue offering community, we live a spirit of innovation isenberg.umass.edu/diversity. engaging, quality instruction B Y T H E N U M B E R S along with online student advising and perseverance. This spirit and the Isenberg and career services, to ensure our community is safe while our drive bring out the best in us and it will help student experience We need learning to strong beandmore andWhile more stay and relevant. us through these challenges. pandemic creates challenges, Undergraduate Graduate Full-Time agile; wetheneed toEndowed figure out how response Enrollment Students Professorswe view Isenberg’s Professors as an opportunity to adapt and to transform education during innovate to better serve our current and future students. these unprecedented times. Public Business School in the Online MBA in the Nation,

3,770

1,769

117

DEAN ANNE MASSEY

Northeast, 6 years running, U.S. News & World Report 2020

Financial Times, 2020

SHIRLEY SHMERLING

S T UDE N T E X P E R IE NC E

FACULTY FELLOWSHIPS

FA C ULT Y E XC E L L E NC E

PA NDE MIC R E S P ON S E

2019–2020 2019–2020 DEAN’S 2019–2020 REPORT DEAN’S REPORT DEAN’S REPORT

ISENBERG SCHOOL OF MANAGEMENT

Faculty Excellence Isenberg’s faculty members pursue innovative research and teaching, developing updated approaches that improve efficacy of instruction and studying trends in business and management that make a real difference in improving society.

FOCUS ON RESEARCH Isenberg’s faculty members have continued working on groundbreaking research initiatives this year. Mila Getmansky Sherman, for example, coleads a team that won $2.4 million in funding from the National Science Foundation with the goal of improving cross-discipline collaboration in predicting risk. “Today, we’re witnessing the effects of

the coronavirus on the stock market, the costs of production and distribution, and oil, gas, and food prices,” says Sherman, a professor in Isenberg’s finance department, explaining why catastrophic events are best examined from multiple academic perspectives. Her project, called the Predictive Risk Investigation System for Multilayer Dynamic Interconnection Analysis (PRISM), pools the expertise of ten senior researchers across disciplines including data science, statistics, computer science, energy, hydrology, ecology, agriculture, finance, climate, and space weather with the goal of identifying and measuring risk factors that can lead to catastrophic events. Each of the researchers hails from a different institution, including, among others, Cornell, Columbia, Penn State, UC San Diego, Tufts, and the Lincoln Park Zoo (in Chicago). “You gain surprising insights when experts from different domains pool their perspectives,” Sherman says.

FACULTY FELLOWSHIPS In June, Dean Massey announced three new fellowships to support outstanding faculty researchers:

INVESTMENT IN CLASSROOM INNOVATION CHARGING DE&I FORWARD With an enormous amount of energy and urgency being geared toward organizations confronting and undoing systemic racism in the Albert States, Assaf, professor United Isenberg recognizes and we PhDhave coordinator in power that the unique Isenberg’s hospitality and and privilege to enact change in tourism management two worlds: the world and department, hasbusiness been that of higher education. named a Dean’s Research We have Fellow. Assaf’s outlined criticalresearch new initiatives and on tourism and transport to move actions we will undertake economics and hospitality, us forward:

management and marketing, econometrics and statistics, and finance Isenberg Diversity, Equity, has been published in and Inclusion Committee the European Journal of Isenberg Diversity, Operational Research, Equity, Tourism Management, theCouncil and Inclusion Student Annals of Tourism Research, Isenberg Trainings the JournalCommunity of International Marketing, and many Conscious Business others, and he is currently Collaborations editor of the journal Tourism Economics and New Course: Intro to Diversity editor of three &associate Inclusion in Business other journals. He also won the 2020 Lifetime Research While we speak of diversity Achievement Award from and the International Council inclusion in our mission and our on Hotel, and We must vision, thatRestaurant, is not enough. Institutional Education.

Dean Massey initiated the new Isenberg Teaching Fellowship during the summer of 2020 with the goal of improving student engagement during classes held either in person or over the internet. The five recipients are working actively to develop solutions to teaching challenges, and they are also charged with sharing Fousseni Chabi-Yo, Elaine Wang, associate strategies with other instructors. “We are classroom associate professor and professor ofthe accounting, technology ambassadors for entire faculty,” PhD coordinator for the has also been named a emphasizes Melissa Baker, associate professor finance department, has Dean’s Research Fellow. of Hospitality & Tourism Management. been named a Dean’s She studies the influence The other Fellows are Susan Boyer, Isenberg’s Research Fellow. Chabi‑Yo’s of language on investors’ research focuses on judgments and and the Services group; director of Technology Support financial econometrics, of situational Robert Nakosteen,effects professor and department chair behavioral finance, factors (i.e., the decision for the Operations & Information Management theoretical and empirical making environment department; Shirley Shmerling, senior lecturer asset pricing, derivative and context) on for Operations & Information Management; and pricing instruments, auditors’ judgments of Pamela lecturer for Accounting. international finance, andTrafford, senior uncertain estimates. investor preferencesThe andschool’s focus Wang, who serves teaching as on innovative has also beliefs. He also studies coordinator forClass the of 2020 been on the mindsPhD of students. The tail risk and dependence, accounting department, Senior Gift Campaign raised more than $5,000 to expected Treasury bond has also investigated be put toward programs thatconsequences include the Fellows returns, options on unintended initiative development Treasury bond futures, and as well asofthe financial reportingof a ‘technology commodities. Chabi‑Yo’s and auditing practices sandbox’ for students and faculty, which will support research has appeared in on operational decisions developmental programming for faculty and staff the Journal of Financial by managers. She has around new technologies, recognize innovative Economics, Review of published extensively in teaching, and provide support for the testing of Financial Studies, Journal her discipline’s premier new pedagogy. of Economic Theory, journals, including Management Science, Journal of Financial and Quantitative Analysis, and other publications.

The Accounting Review, Journal of Accounting Research, and Journal of Accounting and Economics.

bring it to life in our work, our academic and curricular activities, and our everyday interactions. Dean Massey also announced a new program called the Teaching with Digital We, in Isenberg, are dedicated toAward, which will be awarded for the first time next spring to Technology by students for their innovative use of digital technology advancing equity andfaculty justice nominated for all. to improve teaching and learning.

To learn more and get involved, visit

isenberg.umass.edu/diversity. BY THE NUMBERS

3,770

1,769

Undergraduate Enrollment

Graduate Students

Public Business School in the Northeast, 6 years running, U.S. News & World Report 2020

117

We need to be more and more Full-Time agile; we need toEndowed figure out how Professors Professors to transform education during these unprecedented times. Online MBA in the Nation,

Financial Times, 2020

SHIRLEY SHMERLING

S T UDE N T E X P E R IE NC E

FA C ULT Y E XC E L L E NC E

2019–2020 2019–2020 DEAN’S REPORT DEAN’S REPORT

ISENBERG SCHOOL OF MANAGEMENT

Student Experience Isenberg remains focused on helping students reach their personal and professional goals.

Support for Career Success The newly launched Office of Career Success serves Isenberg undergraduate and graduate students who study on campus and online, as well as alumni making career transitions. Born of a strategic partnership between the Business and Professional Communications faculty and the career experts at the Chase Career Center, the Office of Career Success offers resume guidance, interview prep and practice, social media profile tips, and more. It will work with recruiters and alumni to bring educational workshops, networking events, and career fairs to the Isenberg School and community. The formula is simple—coursework in business and professional communications, plus a full slate of career resources and services, equals career success.

CAREER PEER TRINITY MONTEIRO ’21 WORKS WITH LINH PHAM ’22.

S T UDE N T E X P E R IE NC E

2019–2020

DEAN’S REPORT

Philanthropy: Bringing It Full Circle During the Dean’s Leadership Seminar in September, Dean Massey called on the Class of 2023 to fund a scholarship for their own classmates. Embracing Isenberg’s culture of philanthropy, almost 80 percent of first-year students donated that same day (with their gifts matched by the dean herself). Dean Massey was joined at the seminar by alumni Haohao Guo ’11 and Paul Carney ’82, who shared their own philanthropic journeys: Guo came to Isenberg from China because of a scholarship funded by Carney, who has been a major supporter of the school for decades. Since Guo’s graduation, he has shown his gratitude by funding his own scholarship for international students.

XAVIER REYES ’23, WHO RECEIVED ONE OF THE TWO STUDENT-FUNDED CLASS OF 2023 SCHOLARSHIPS, WROTE TO HIS CLASSMATES, “I WOULD LIKE TO THANK YOU FOR YOUR CONTRIBUTIONS, NOT ONLY TO MY EDUCATION, BUT TO ALL THE OPPORTUNITIES MY ATTENDANCE AT THIS UNIVERSITY PROVIDES ME WITH.”

BY THE NUMBERS

761

88%

$60K

89%

Career Peer advising sessions

of all Isenberg students in 2019 had at least one internship

Median salary, BBA Class of 2019

Placement rate, BBA Class of 2019

CAREER PEERS Launched at the beginning of the fall 2019 semester, thanks to the generous donations of eight alumni donors, the Chase Career Center’s walk-in Career Peer Program offers peer-to-peer advice from strategically trained juniors and seniors. The goal is for peer advisors to share their insights on topics like resume writing, interviewing, networking, and researching jobs and internships. The benefits flow both ways. Peer advisors improve their communication and leadership skills while gaining new and deeper insights into their own career planning.

Today’s careers and professional journeys are changing fast. Isenberg is innovating to make sure we’re positioned to provide our students and alumni with the skills and connections they need to successfully navigate this new world of professional development. HOLLY LAWRENCE IS THE FIRST ASSISTANT DEAN FOR THE OFFICE OF CAREER SUCCESS. A SENIOR LECTURER WITH A PHD IN COMPOSITION AND RHETORIC, SHE HAS SERVED AS ISENBERG’S DIRECTOR OF BUSINESS AND PROFESSIONAL COMMUNICATIONS.

ISENBERG SCHOOL OF MANAGEMENT

DIVERSITY, EQUITY, AND INCLUSION IN ACTION Isenberg is not only physically growing—evidenced by our year‑old Business Innovation Hub—but we are growing in our capacity to be inclusive leaders who value the unique diversity that each person brings to our school. Just in the last year, we have introduced a new diversity and inclusion course in sport management, hosted both a Women in Finance panel in Boston and an LGBTQIA+ Out and Proud panel right here in Amherst, and held numerous networking and industry connection events. However, the highlight of our fall semester was the inaugural Inclusive Leadership Summit, an event focused on the importance of diversity and inclusion being threaded into every aspect of business. This event was the first of its kind on the UMass Amherst campus. We also celebrated a very competitive and successful Suit Shop clothing drive, in which more than 300 business professional clothing items were donated and made available for students to borrow at no cost.

INCLUSIVE LE ADERSHIP SUMMIT BY THE NUMBERS

350+ 90%

Attendees from across campus

Corporate event sponsors

Recruiting companies in attendance

Students who felt better prepared to be an inclusive leader after attending

Are you taking the time to have real conversations with people from other places—getting to know them for real?” asked Ken Bouyer, EY Americas Inclusiveness Recruiting Leader, in his keynote address at Isenberg’s inaugural Inclusive Leadership Summit on October 19. Most of the event’s 350 participants were students—primarily from business and STEM disciplines—who attended to learn about the vital nature of the diversity and inclusion work at American companies. KEN BOUYER ADDRESSES ATTENDEES AT THE 2019 INCLUSIVE LEADERSHIP SUMMIT.

S T UDE N T E X P E R IE NC E

2019–2020

DEAN’S REPORT

INVESTMENT IN CLASSROOM INNOVATION CHARGING DE&I FORWARD With an enormous amount of energy and urgency being geared toward organizations confronting and undoing systemic racism in the United States, Isenberg recognizes that we have the unique power and privilege to enact change in two worlds: the business world and that of higher education. We have outlined critical new initiatives and actions we will undertake to move us forward:

Isenberg Diversity, Equity, and Inclusion Committee Isenberg Diversity, Equity, and Inclusion Student Council Isenberg Community Trainings Conscious Business Collaborations New Course: Intro to Diversity & Inclusion in Business

While we speak of diversity and inclusion in our mission and our vision, that is not enough. We must bring it to life in our work, our academic and curricular activities, and our everyday interactions. We, in Isenberg, are dedicated to advancing equity and justice for all. To learn more and get involved, visit

isenberg.umass.edu/diversity.

We need to be more and more agile; we need to figure out how to transform education during these unprecedented times. SHIRLEY SHMERLING

THE ISENBERG SCHOOL OF MANAGEMENT at the University of Massachusetts Amherst has one of New Englandâ&#x20AC;&#x2122;s top-ranked public business school undergraduate programs, according to U.S. News & World Report. Founded in 1947, Isenberg is AACSB accredited and has 3,800 undergraduates majoring in seven business disciplines, ranging from accounting and marketing to sport and hospitality and tourism management. More than 1,500 students are enrolled in nationally and internationally recognized on-campus and online graduate programs. The schoolâ&#x20AC;&#x2122;s 48,000 alumni live and work in more than 80 countries, and many of them serve as mentors, guest lecturers, and network connectors for Isenberg.

FINANCIAL SUMMARY

The Business of a B-School TOTAL OPERATING FUNDS, FY20

$44,334,782 SOURCE OF OPERATING FUNDS, FY20 History has shown us that in a time of crisis, great organizations are improved. Isenberg is a great school and we are fully committed to becoming an even better one. We need our community to help us by investing in our priorities and underlying initiatives so we can sustain and advance Isenberg’s reputation and impact as a top business school. Join us in the next chapter, where what may seem like obstacles are in fact opportunities.

Anne P. Massey DEAN AND THOMAS O’BRIEN ENDOWED CHAIR

General Operating Funds, 50% Continuing & Professional Education, 29% Gifts and Endowment Income, 10% Other Program Income, 11%

Isenberg School of Management

BY THE NUMBERS

ENDOWMENT

ENDOWMENT ASSETS $60M

Isenberg’s endowment has steadily increased over the past five years, thanks to both conscientious support from donors as well as market growth. This fund is critical to the longterm financial stability of the school, providing future funding for the education of our students, the academic excellence of our faculty, and the strength of our programs. Endowment gifts are invested in perpetuity with the goal of providing a predictable level of support each year to Isenberg for the purposes specified by the donors. During this fiscal year, more than $2 million has been distributed from Isenberg endowment funds. That money has provided more than $330,000 in scholarships to our students, funded the work of 19 faculty positions, and supported numerous programs and student experiences across Isenberg departments. Use of the endowment is restricted by donor agreement to specific distribution purposes, allowing the assets to continue growing and providing steady support during different economic scenarios. (That’s why, even though the school is facing a very difficult financial situation this year as a result of the Covid-19 pandemic, we are not able to dip into these funds beyond contracted limits.) Donations to Isenberg’s endowment serve the double purpose of supporting current programs while simultaneously setting the school up to weather future economic storms.

$55M

$57,056,019

$56,213,532

$50M

$46,687,542

$45M

$43,625,599 $40M $35M

$39,656,834 FY16

FY17

FY18

FY19

FY20

DISTRIBUTION

$2,007,916 Total Endowment Distribution FY20

Distribution by Purpose Faculty Support, 54% Departmental & Program Support, 19% Scholarship, 17% Quasi-Endowment, 10%

WHO GIVES Alumni, 1,338 Students, 990 Parents, 250 Friends, 193 Organizations, 117 Faculty & Staff, 39 FY20 Total Donors: 2,927

ISENBERG NETWORK

48,000 Alumni Worldwide

7,000

Graduate Programs Alumni

20,000

Alumni in the Boston Metro Area ISENBERG SCHOOL OF MANAGEMENT

University of Massachusetts Amherst | 121 Presidents Drive, Amherst, MA 01003 | isenberg.umass.edu

Isenberg School of Management University of Massachusetts Amherst 121 Presidents Drive, Amherst, MA 01003 www.isenberg.umass.edu