WHAT IT MEANS TO BE A MAVERICK
2022
DEAN, COLLEGE OF BUSINESS Dr. Brenda Flannery EXECUTIVE EDITOR Director of Marketing and Communication, College of Business Jen Cucurullo CONTRIBUTING EDITOR Senior Director of University Marketing & Communications, Minnesota State University, Mankato Sara Frederick EDITOR, In Review Sarah Asp Olson GRAPHIC DESIGNER Vanessa Knewtson WRITER Sarah Asp Olson PHOTOGRAPHERS Jen Cucurullo Vanessa Knewtson Steve Woit MARKETING INTERNS Olivia Anderson Josie Sandford Emilee Thomas PRINTER Corporate Graphics PROOFREADER Joe Tougas ...................................................................... The mission of In Review is to inform and to connect the reader to the College of Business community. In Review welcomes story ideas supporting this mission. In Review is copyrighted in its entirety. This volume and all articles, images and photographs within may not be reproduced in any form without written permission of the executive editor. ...................................................................... COLLEGE OF BUSINESS 120 Morris Hall, Mankato, MN 56001 507.389.5420 | cob.mnsu.edu
An Affirmative Action/Equal Opportunity University. This document is available in alternative format to individuals with disabilities by calling the College of Business at 507-389-5420 (V), 800-627-3529 or 711 (MRS/TTY).
2 / C OLLEGE OF BUSIN ES S I N R E V I EW
WHAT IT MEANS TO BE A MAVERICK
Dean’s Message Dear Friends,
H
ave you had a chance to see Top Gun: Maverick yet? It’s the muchanticipated sequel to 1986’s Top Gun starring Tom Cruise as Pete “Maverick” Mitchell. There was a lot to like about the movie, but what my husband Joe and I found most compelling was the transformation of Mitchell from Maverick the pilot to Maverick the teacher. And while his role has shifted, Mitchell still lives up to his nickname. He’s a risk-taking, creative, independent-thinking, achiever. He’s a maverick!
Mavericks has been the name of our University mascot since 1977.* Variations of the word can be found all over campus: when referring to our sports teams, as University program titles (#MavFam and #MavBiz), cozy study spots (MavPods) and as a cheer of encouragement (Go Mavs!). In this 11th edition of the College of Business In Review magazine, we reflect on our MAVERICKS namesake. Throughout this issue, you’ll find many examples of maverickism on campus. From shining a spotlight on the COB’s newest faculty members (p. 12) to sitting down with President Edward Inch to get a glimpse of his vision for the University (p. 30). Our cover feature (p. 18) answers the question “What does it mean to be a Maverick?” from the diverse perspectives of students, faculty and campus leaders.
We have so much to learn and to unlearn as we challenge the status quo, enact solutions to extraordinary problems and chart new paths toward a better and more equitable future.
The theater is not the only place I’ve encountered the idea of a maverickism outside of our campus walls. As we prepared for this issue, I learned there is a group of scholars in Australia who have produced significant research on what traits make up mavericksm. **According to the research, mavericks often introduce or champion transformational change. Without a doubt, we are in turbulent times that will need mavericks who can bring about change to many of our worldviews, systems and daily behaviors. We have so much to learn and to unlearn as we challenge the status quo, enact solutions to extraordinary problems and chart new paths toward a better and more equitable future. In this issue of the magazine, we offer up examples of our beloved Mavericks who aspire to those same ideals. I hope you enjoy. Go Mavs!
Brenda Flannery, Ph.D. Dean, College of Business Professor of Management
*Scan QR code for a history of Minnesota State Mankato mascots **Dr. Elliroma Gardiner (Queensland University of Technology) and Dr. Ree Jordon (The University of Queensland, Australia) are two pioneering researchers.
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 3
CONTENTS Leadership Team......................................................5 Mankato Made ..........................................................6 Alumni Connection .................................................8 News and Notes........................................................10 New Mavs in Morris Hall.......................................12
18
COVER FEATURE:
What it Means to be a Maverick
What it Means to be a Maverick......................18 Maverick Moves: A Conversation with President Inch.............................................................30 Celebrating 10 years of the United Prairie Bank IBE Program....................32 Talent Leadership Food and Ag.......................34 BAM! Student Organization................................36 The Gift of Research...............................................37 Research Briefs..........................................................38
30
Student Sound Off....................................................40 Faculty Leader ...........................................................41 Big Ideas Challenge................................................42 The Big Picture...........................................................46
42 4 / C OLLEGE OF BUSIN ES S I N R E V I E W
COLLEGE OF BUSINESS
Leadership Team The College of Business Leadership Team includes 12 high-impact professionals who put students first.
Brenda Flannery
Angelica Nolan
Marilyn Fox
Ann Kuzma
Dean and Professor of Management
Executive Assistant to the Dean
Master of Business Administration (MBA) Director, AACSB Director and Professor of Management
Marketing and International Business Department Chairperson and Professor of Marketing
Byron Pike
Samantha Campa
Bryan Hoffman
Linda Meid
Master of Accounting (MAcc) Director, Allen Lenzmeier Accounting Professor of External Partnerships and Associate Professor of Accounting
Internships and External Partnerships Coordinator
Director of Technology
Student Relations Coordinator
Jen Cucurullo
Oksana Kim
Yilin (Leon) Chen
Kathleen Dale
Director of Marketing and Communication
Accounting and Business Law Department Chairperson, Allen Lenzmeier Professor of Leadership and Diversity and Professor of Accounting
Finance Department Chairperson and Professor of Finance
Management Department Chairperson and Professor of Management
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 5
MANKATO MADE
Tim Tupy ’91 built a home—and two thriving businesses—in the city he loves. Tim Tupy ’91 didn’t really have any business running a hair salon—at least on paper. The finance major had been working for Citizens Telephone company when his wife Tami, a cosmetologist, learned the salon where she worked on Front Street in Mankato was looking for new ownership.
After graduating, Tupy worked briefly in the Twin Cities but began to miss the pace and culture of Mankato. He returned and found a job with Citizens Telephone company. “That’s kind of when I got my hooks back into Mankato,” he says.
“This is going back 28 or 29 years ago,” he says. “‘We said, ‘well, let’s buy it.’” To this point, neither Tupy had even made a house purchase. “So, we’re like, ‘how do we do this?’” says Tim. The Tupys worked with the SBA and after a few false starts, found a banker who got their vision and believed in them. “Voyager Bank’s Mike King,” says Tim. “I think it was the women in his family that actually told him [he] should do this.” For nine years, the Tupys ran Hair Masters, learning the business and figuring it out as they went. And they noticed something— there was a need in the Mankato salon market for a customercentered, full-service salon and spa. Time for another leap of faith for the Tupys. “We went to Aveda Corporate [in Minneapolis] and said we want to do a full-service salon and spa,” says Tim. “It took us two years to work with them because they didn’t think the market in Mankato could support it.” Twenty years later, the market has not only supported LIV Aveda, the Tupys have built deep and lasting connections in the community—oh, yeah and another business. Tupy launched the Mankato Brewery 10 years ago to share his love of beer and home brewing with the community. The popular taproom frequently sponsors local events and hosts community gatherings. Tami and Tim Tupy 6 / C OLLEGE OF BUSIN ES S I N R E V I E W
In his senior year, Tupy got a job working for Rickway Carpet in North Mankato.
Tupy started at Minnesota State Mankato in 1987. He started out thinking he’d work toward a degree in engineering, but quickly switched tracks to pursue computer programming and finance.
Tupy was raised in New Prague. He and his twin brother were the first in their family to attend college.
Both LIV Aveda and the Brewery suffered during COVID-19 shutdowns. Looking back, Tupy sees the silver lining. “We’ve become more flexible and understanding,” he says. “I think COVID has helped us become better people and not just business people.”
In his down time, Tupy is big into mystery and history books, shows and podcasts. Some of his current recommendations: Longmire, Joe Pickett and the Scarpetta series by Patricia Cornwell. Tupy is also an avid runner.
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 7
ALUMNI CONNECTION
Mavericks Leading the Way Two College of Business alum were recently honored with Distinguished Alumni awards from the University.
MICHAEL JORDAN ’16 Owner/CEO, UNRL 2021 Outstanding Young Alumni
Michael Jordan’s athletic clothing company UNRL started with an idea and a phrase Jordan had heard peers using while he was still a student at Minnesota State Mankato—“that’s unreal!” Today, the company produces athleisure clothing out of its headquarters in St. Paul. The brand recently released its first collaboration with the Minnesota Vikings. “I got a lot of support from not only students, but faculty when I was attending Minnesota State Mankato, and all were very great supporters of what I was trying to accomplish. But the faculty really went above and beyond in helping me get my ideas off the ground and open up doors with connections that I would have otherwise never been able to get. … When I first started it, I guess I didn't fully know if it was going to catch on the way it did and grow to this extent, but that was always a dream in the back of my head. So, seeing it come to fruition has been nothing short of amazing for myself, and for the people that are involved in my team. … My advice for current students at the university is invest your time wisely while you're in school, develop your craft, get started, fail and try again.” 8 / C OLLEGE OF BUSIN ES S I N R E V I E W
DEB SCHONEMAN ’90 Managing Director/President, Piper Sandler 2021 Achievement Award
When Deb Schoneman started in the accounting department at Minnesota State Mankato in the late 80s, there was a single personal computer; and she was among a few who knew how to use it. Schoneman ended up teaching her peers computer skills. She was also involved in extracurricular activities, like dance line, that instilled confidence and leadership skills. Schoneman started at Piper Sandler, an investment firm headquartered in Minneapolis, as an intern. Thirty-one years later, she’s in the president’s chair. “Many of the roles that I went into as I was progressing through my career, I got to create. So, it was fun to build a finance function, be able to think outside the box that was allowed and frankly rewarded. So, between the opportunities I've been provided over the years, as well as just the unbelievable people that I get to work with here, that's what's kept me. … When I moved into the CFO role, I was struggling because I felt like I needed to act and be a certain way. But it was a lot like I needed to be more all business, tough, and that really wasn't me. And so, I wasn't liking my job, it didn't feel right. …Once I started showing up authentically every day, my career actually moved forward much quicker. My advice for current students on how to make the most out of their college experience is, first and foremost, be curious. This is your time to learn, to take classes you might not otherwise take. I would also say, give it your all. Don't just do the bare minimum. It's important that you get good grades and succeed while having fun.”
The quotes are excerpts from the Distinguished Alumni acceptance videos. To view full videos, visit cob.mnsu.edu/inreview2022
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 9
NEWS & NOTES MBA student Bill Vikander named David C. Olson Scholarship Recipient The David C. Olson scholarship is awarded to an MBA student each year. In addition to $9,000 toward the cost of their education, recipients are granted an internship with a Minnesota Chamber of Commerce member organization. This year’s recipient, Bill Vikander, worked as a research assistant to Jennifer Byers, Executive Director of the Minnesota Chamber Foundation, the 501c3 partner of the Minnesota Chamber of Commerce. “It is widely known the Minnesota Chamber of Commerce and its local area partners play an important role in the state’s economy and business environment. I was proud to be involved in developing the latest publication highlighting the state of entrepreneurship in Minnesota,” says Vikander.
Shane Bowyer Honored by Greater Mankato Growth Dr. Shane Bowyer is the recipient of Greater Mankato Growth 2022 GreenSeam’s Seamed in Success award. The award honors an “outstanding business, organization, community, or individual which has made a large impact and added value to the community and region. This award recognizes those who have highlighted the importance of agriculture, with an emphasis on rural vitality building upon our agricultural roots.”
TO VIEW MINNESOTA ENTREPRENEURSHIP: A TURNING POINT, SCAN THE QR CODE.
All American Business Scholars Trevor Turriff (Finance) and Cooper Siebrecht (Accounting) are among five Minnesota State Mankato student wrestlers named National Wrestling Coaches Association Scholar All Americans in 2022. A total of 314 student-athletes from 57 institutions were honored individually. Of the 314 honorees, 95 wrestled at the 2022 NCAA DII national championships this year. Including Turriff, seven of this year's national champions were named Scholar All-Americans. In order for a student-athlete to be nominated to the Division II Scholar All-American Team, he must have a minimum 3.4 cumulative grade point average on a 4.0 scale, with that benchmark at 3.2 for those who qualified for the 2020 NCAA Division II Wrestling Championships. The athlete must also have competed in a minimum of five dates of competition. Minnesota State finished its 2021-22 wrestling season with a seventh-place finish at this year’s national tournament. Source: MSUMavericks.com
10 / C OLLEGE OF BUSIN ES S I N R E V I E W
College of Business Professors Present at Minnesota State Mankato Scholars at Work Conference The Scholars At Work Conference allows faculty to share their passions, research, and innovations with peers and colleagues from around our institution. Three COB faculty members joined faculty, staff and students for the October, 2021 conference. •
•
•
Dr. Kristin Scott (Marketing): Teaching Equity 2030: Integrating the First Year Seminar and Investigating the New Diversity, Equity, and Inclusion Program Level Outcome Requirements Dr. Maria Kalyvaki (Marketing): Compassion in Online Teaching and Learning: Before and After the Declaration of the Global Covid-19 Pandemic Dr. Chandu Valluri (Marketing): Ushering a New Age of Rapid Innovation: Stabilizing and Transformative Responses to the COVID Crisis
Faculty and Staff Highlights Dr. Chris Brown Mahoney’s paper, “Predictors of Burnout, Job Satisfaction and Turnover among CRNAs during COVID-19 Surging,” has been accepted for publication in the American Association of Nurse Anesthetists Journal. Professor Jon Gallop’s recent book publications include: The CIDER Method: A Human Resource Approach to Handling Employee Complaints and A.S.P.I.R.E to Ethics: An Analytical Approach to Solving Ethical Dilemmas. Dr. Anaam Hashmi presented at the College of Social and Behavioral Sciences and Kessel Peace Institute roundtable teaching discussion on the current conflict in Ukraine on March 23. He also presented his paper, “Conceptual Foundations and Importance of Service Quality Innovation in Global Business Organizations” at the 2022 Clute Institute Academic Conference in January. Dr. Daniel Hiebert presented in October at the MN FPA annual conference on the topic of family business owner succession planning and help seeking decision-making. He was also featured as an expert on KEYC concerning financial aspects of the Ukrainian crisis. Drs. Maria Kalyvaki, DQ Spencer and Shane Bowyer’s paper, “Preparing Gen Z for a Career in Agribusiness: What Industry Wants Amid the COVID crisis,” was accepted for the 2022 IFAMA World Conference in Costa Rica. Two papers co-authored by Dr. Ishuan Li Simonson, “Financial Literacy” and “Pilot Course on Financial Literacy” were presented at the Midwest Economic Association in March 2022 and the Annual Conference on Financial Education, in April 2022, respectively. Dr. Byron Pike’s co-authored paper, “How Does an Audit or a Forensic Perspective Influence Auditors’ Fraud-Risk Assessment and Subsequent Risk Response,” has been accepted in the elite journal Auditing: A Journal of Practice & Theory. Dr. Kathy Richie will present “Emotional Intelligence: Implementing an Inclusive Post-COVID Resilience Strategy,” at the 2022 Forum on Workplace Inclusion Conference. Dr. Chandu Valluri presented “A Credit Union That Cares: The Application of the Integrative Justice Model (IJM) to the Customer Churn Problem” at the MBAA International Conference in March; and “A Conceptual Review of Churn in Business” at Western Decision Sciences Institute’s 50th Annual Conference in April. Valluri’s paper “A Conceptual Review of Churn in Business” was accepted for publication in the Journal of Management and Marketing Research. Dr. Ishuan Li Simonson will assume the Presidency of Omicron Delta Epsilon (ODE), the International Honor Society for Economics and one of the world’s largest academic honor societies.
Dr. Nguyen Nguyen was approved by the Conference of State Bank Supervisors (CSBS) to be an advisor for the 2022 CSBS Bank Case Study Competition for the Minnesota State Mankato team. Dr. DQ Spencer received a 2022 DEI Champion award at an event hosted by the Minnesota State Mankato Multicultural Center on April 19.
Thank you and best wishes to retiring faculty and staff Dr. Dooyoung Shin Professor of Management Dr. Stephen E. Wilcox Professor of Finance Dr. Paul J. Brennan Associate Professor of Accounting Kathryn J. Wilcox Curriculum and Office Assistant
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 11
Mavs in Morris Hall Morris Hall has been home to College of Business thinkers and innovators since it first opened its doors in 1968. This last academic year, the College welcomed new faces to the Hall. This group brings a diverse and multicultural blend of experiences, strengths and big ideas that are already shaping the College’s future.
12 / C OLLEGE OF BUSIN ES S I N R E V I E W
DQ SPENCER, D.B.A. ASSISTANT PROFESSOR OF MANAGEMENT
“I want to work toward increasing the awareness of [social] issues, I want to help mold my students and help them look at the big picture.” Dr. DeQuindre (DQ) Spencer is new to the faculty, but the Management professor isn’t new to the College of Business. Spencer graduated in 2009 then spent 15 years working in human resources management before earning his doctorate and returning to his alma mater as faculty. Spencer’s wealth of industry experiences make him an accessible resource for students who stop by his office seeking everything from career advice to a friendly chat. And since he started in the College during distance learning, he’s happy to be able to keep his door—rather than just his Zoom room— open to any student who needs him. “It’s refreshing, very exciting to meet the students, see the students and be able to interact with them in person. It gives that opportunity for relationship building and engagement that not only students need, but the faculty need as well. I tell them we can talk about work or about grades or just about life. I’m there as not only an advisor but as a friend and mentor.”
MELISSA DIEGNAU, M.B.A. ASSISTANT PROFESSOR OF MANAGEMENT
“I love advising. Advising was and still is probably my favorite part of teaching. I want to help students feel like they’re home.” Melissa Diegnau isn’t worried about getting bored. The Management professor teaches all sections of BUS295, Professional Preparation for Business Careers, and for the BBA program, serving more than 300 students per semester.
One student remarked that the energy changed when she entered the classroom. Another closed out last semester by telling her, “There’s no way someone can be in your class and not learn.” It’s moments like these that keep Diegnau energized—and to be honest get her a little choked up.
And if you ask her students, they’ll likely tell you the same thing. Diegnau—who came to Minnesota State Mankato in the “I love the energy here,” she says. “[The early 2000s as an adjunct and has worked College of Business] feels like home.” in a variety of capacities before accepting a full-time probationary position last fall— is an engaging teacher.
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 13
KYLE NASH, PH.D. ASSISTANT PROFESSOR OF MANAGEMENT
“In the corporate sector, innovation technology has a significant impact. Also, smarter, more agile databases are central to a successful business strategy.” Dr. Kyle Nash came to make change. The Baylor University graduate saw an opportunity to take the College of Business to the next level through innovative ideas and a strong focus on technology. A year in, he’s excited about the growth he’s seen in the College and in his students—or as he calls them “future business leaders.” “One of the things I always try to inject in my courses [is] encouragement to my students,” he says. “I always call them business leaders when I talk to them. It’s one thing I really like the students to remember and build their skills on.”
Nash is also focused on the future his young business leaders will graduate into. With the rapid pace of technology, he concentrates on building skills that will last. “If students build their skills and their understanding of how a software—like Tableau—works, if they have the basics, the logic of how to analyze data, later on they can basically work with any other computer software.”
TOM CLEMENT, PH.D. ASSISTANT PROFESSOR OF MANAGEMENT
“I associate [the word Maverick] with grit. That’s an actual thing we study in entrepreneurship: grit, resilience, tenacity. That’s the culture I identify most with at Minnesota State Mankato.” Dr. Tom Clement is a big “get after it” person. The North Dakota native has had a lot of jobs in his life—contractor, educator, motorcycle franchise owner. Most of the roles he takes on have some element of “figure it out as you go.” That’s the same energy he brings to the classroom as management faculty.
He’s teaching classes in Creativity and Innovation and Entrepreneurship, where he manages to weave in relevant life experience as a business owner and entrepreneur.
“In my entrepreneurship class I did a module on buying and selling businesses because I’ve been on both sides of that,” he says. “You can see the “We start day one with projects, getting your students become really engaged listening to hands in there and working on things,” he says. those real-world stories. The book stuff is great, but if you can add in some real-world to that, Clement started with the College of Business that’s what they really identify with.” last fall, bringing with him 20 years of entrepreneurship education experience. 14 / C OLLEGE OF BUSIN ES S I N R E V I E W
JOE WESTLIN, PH.D. ASSISTANT PROFESSOR OF MANAGEMENT
“Students should be challenged to think critically, and likewise, should be willing to challenge the material itself. Lectures should be interactive and engaging, and students should be asked to provide input regularly, both to encourage critical thinking and to ensure attentiveness to the course content.” Dr. Joe Westlin has a doctorate in industrial organizational psychology. That means he’s well-equipped to apply scientifically-based solutions to human problems. It’s a useful skillset in a time when the world of work— especially when it comes to human resources—is shifting so rapidly. “There are a lot of things changing right now in human resources,” Westlin says. “I think one of the biggest things that we’re seeing right now is staffing issues. A lot of companies are short on people.”
Westlin looks at the changing hiring landscape as an opportunity for both faculty and students to innovate. In class, he does this by asking students to think critically, challenge assumptions and practice what they’re learning in real-world settings. “It gives us an opportunity to sort of frame our conversations about human resources in the direction of how can we actually address the issues that we're seeing right now,” he says.
NGUYEN NGUYEN, PH.D. ASSISTANT PROFESSOR OF FINANCE
“I want my classroom to be a friendly environment where everybody’s ideas are embraced and we have a fair discussion of what is going on.” Dr. Nguyen Nguyen tries to be a teacher that listens. Her goal is to create a supportive, friendly environment that is open to students’ questions, ideas and curiosity—wherever it may lead them. It’s an ethos she’s modeled throughout her own career that started in banking in her home country of Vietnam and led her to academia in Australia (where she earned a master’s degree), Vietnam (as a teacher at the Foreign Trade University) and eventually to the United States (first in Alabama, where she earned a Ph.D., and then to Mankato). “I originally had a Bachelor of Accounting in Vietnam; I was working as a banking regulator in the Deposit Insurance of Vietnam (similar to the FDIC). The first thing I learned in Vietnam banking regulation is the United States system.”
Now that she’s teaching in the United States, Nguyen can offer students her unique perspective on financial systems throughout the world. “My experience traveling all around the world gave me a kind of a viewpoint that sometimes we realize that there’s no right or wrong [financial system]. Sometimes there’s a match in culture or history, etc.,” she says. “I usually show my students in the classroom different perspectives of a problem—like if you look at the U.S. system, it may be appropriate, but does it work with other systems in the world? If there are any international students, I encourage them to speak about their experiences to bring a fresh eye to the discussed issues.”
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 15
ISHUAN LI SIMONSON, PH.D. PROFESSOR OF FINANCE
“Embrace failure. Don’t be afraid of failure. It’s part of learning and learning always entails some probability of failure. It’s how you react to failure that makes a difference.” Dr. Ishuan Li Simonson has a strong background in economics, but she was tapped to join the Finance Department starting in the fall of 2020 as part of the College of Business’ Certificate in Business Analytics program. Li Simonson’s career as a researcher, teacher and mentor has focused on helping students succeed after graduation—it’s one of the reasons she’s so passionate about business analytics now. “The field is gaining great importance and priority in terms of college degrees,” she says. “College graduates should have analytics training if they wish to have a well-paid job. In the future, occupations will require students to have some understanding of data analysis.”
Auburn, Ala. Albany, N.Y. Clemson, S.C. New York City, N.Y. Grand Forks, N.D. Albert Lea, Minn. Norman, Okla. Bowling Green, Ky. Boston, Mass. Waco, Texas
This group of new College of Business faculty represents one of the most multicultural the College has ever hired. From Greece to Vietnam to Grand Forks, N.D., here’s where our new faces have lived, worked and studied.
16 / C OLLEGE OF BUSIN ES S I N R E V I E W
Paraguay
MARIA KALYVAKI, PH.D. ASSISTANT PROFESSOR OF MARKETING
“My vision is to create connections.” The 2021/2022 school year was Dr. Maria Kalyvaki’s third at Minnesota State Mankato, but her first in the College of Business. The Greece native came to Mankato to teach in the Mass Communication department, but it wasn’t long before she began to feel more at home next door in Morris Hall. “When I had conversations with Dean Flannery and faculty from the College of Business, I felt like I belonged there,” she says. “When [the move] happened I was like this is the best thing that has happened to me. I felt like I found my place.” One look at Kalyvaki’s curriculum vitae and it’s clear why she felt that way. Not only has she studied agricultural communications, Kalyvaki has worked and studied in the fields of agricultural engineering, policy management, human resources and more. She even spent time during her doctoral program working in marketing for the United Nations. Kalyvaki—who has lived and worked all around the world—focuses on giving marketing students a global perspective and collaborating with colleagues like Drs. Spencer and Bowyer, with whom she’s published a forthcoming paper on agribusiness.
Dubai Turkey Lesvos, Greece Athens, Greece The Netherlands
Brisbane, Australia
Taiwan Hanoi, Vietnam
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 17
WHAT IT MEANS
What it means to be a MAVERICK What does it mean to be a Maverick? Believe it or not, there’s an entire field of research dedicated to that very question.
In 2014, two Australian researchers from the fields of psychology and business broke it down like this: “Maverickism is the tendency of an individual to be socially competent, creative, goal focused, risk-taking and disruptive. … Individuals high in maverickism have the potential for radical innovation.”* For College of Business students, faculty and staff maverickism is all that and more. It’s understanding how students learn and then creating the software to make
18 / C OLLEGE OF BUSIN ES S I N R E V I E W
TO BE A MAVERICK
it happen. It’s drafting a business plan with the help of industry professionals and seeing your Big Idea come to life. It’s launching a business and securing a loan via the United Prairie Bank Integrated Business Experience (IBE) before your 23rd birthday. It’s high-fiving Stomper while cheering on classmates at Blakeslee Stadium. It’s seizing every opportunity to lead.
It’s our Maverick mindset.
*From “Personality and learning processes underlying maverickism” by Elliroma Gardiner and Chris J. Jackson. Originally published in the Journal of Managerial Psychology, v. 30/6
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 19
WHAT IT MEANS
Mavericks in the House College of Business faculty and staff work hard every day to help students achieve their dreams as Mavericks.
20 / C OLLEGE OF BUSIN ES S I N R E V I E W
TO BE A MAVERICK
VISION To be the clear business school choice for real-world learning. VALUES Student centered, innovative and professional always pursued in a spirit of inclusion, collaboration and collegiality.
2021-2022 College of Business faculty and staff M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 21
WHAT IT MEANS
Mavericks at the Head of the Class Meet four College of Business faculty members who are making Maverick moves.
Shane Bowyer, Ed.D. ASSOCIATE PROFESSOR OF MANAGEMENT, DIRECTOR OF AGRIBUSINESS & FOOD INNOVATION PROGRAM, DIRECTOR, CENTER FOR INNOVATION & ENTREPRENEURSHIP Baseball Coach Turned Entrepreneur Turned Academic What Makes a Maverick? “When you think of a Maverick you think of someone who is willing to try something different, someone with the energy and passion to move forward.” Most Maverick Move: As a baseball coach Bowyer took an entrepreneurial leap and started two businesses—the baseball franchise the Mankato MoonDogs and the Sports Institute. At Minnesota State Mankato, he’s on the forefront of launching the new AgriBusiness program on campus.
22 / C OLLEGE OF BUSIN ES S I N R E V I E W
Kris Rosacker, Ph.D. ASSOCIATE PROFESSOR OF ACCOUNTING Mentor Extraordinaire How do you encourage students to be Mavericks? “I encourage students to use course assignments to contribute to the accounting field. Master of Accounting (MAcc) graduate Abigail Rickels published a research paper in 2021, and MAcc student Lacee Fedeler presented a paper she prepared in a MAcc course at the 2022 North American Accounting Society Conference.” Most Maverick Move: Rosacker spearheaded the creation of the College’s Beta Alpha Psi (BAP) chapter just one year after being hired. BAP is an excellent way for students to build out their professional connections and communities. In 2020, the chapter earned the Superior Status from the executive office of Beta Alpha Psi.
TO BE A MAVERICK
Dan Hiebert, Ph.D.
Chandu Valluri, Ph.D.
ASSISTANT PROFESSOR OF FINANCIAL PLANNING, DIRECTOR OF FINANCIAL PLANNING PROGRAM
ASSISTANT PROFESSOR OF MARKETING, FOUNDER OF INFUZN FOODS
Not Your Grandfather’s Financial Planner
The Analytical Entrepreneur
What’s your motto? “If it ain’t broke, break it. Sometimes financial planners and organizations have a philosophy of status quo and ‘the way we’ve always done it.’ You always have to challenge those things to make sure you adapt to not just survive but thrive.”
How do you bring your personal experience into the classroom? “I try to embody a sense of entrepreneurial zeal. When I’m out there living it, it makes it that much more real to me as well as the students in the classroom. They know I’m not just lecturing out of a textbook; I’m speaking from experience. You’re able to show the humanity in the process—it’s not all rosy, not all picturesque, not all glamorous. It’s hard work and there are trials and tribulations along the way. When you share that story, it resonates with them.”
Most Maverick Moves: Hiebert and colleagues developed a business simulation software program called Magnate that teaches entrepreneurial skills targeted to financial planners. Oh yeah, they’ve also more than doubled enrollment in the financial planning program—going from 53 to 118 students in just four years. And students in the program are working on a podcast to help college students make better decisions while in school and just starting their careers.
Most Maverick Move: Valluri has been instrumental in bringing the forthcoming sales certificate program to the College of Business. His passion for bridging technology with soft skills through business analytics will certainly set students up for future success.
As you look at where we’re going as a College of Business, it’s exciting. As Mavericks we’re going to take risks and keep moving forward. That typifies what the College of Business is. —Shane Bowyer M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 23
WHAT IT MEANS
Mavericks Make the Team
Hockey. Track and Field. Basketball. Football. Volleyball. Swimming. Soccer. Wrestling. College of Business students are well-represented in fields, pools, courts and arenas across campus.
136 Maverick Athletes are Business Majors, and Mav Business students are represented in every athletic team on campus. Men's
24 / C OLLEGE OF BUSIN ES S I N R E V I E W
Women's
Football
27
Track
13
Hockey
19
Soccer
6
Track
16
Hockey
5
Baseball
15
Cross Country
3
Wrestling
12
Golf
3
Basketball
4
Volleyball
3
Cross Country
4
Swimming
4
Golf
3
Softball
1
TO BE A MAVERICK
Bring on the Machine! The Maverick Machine Marching Band features a number of business majors. Here’s what they’ve learned on and off the field. “Setting timelines and adhering to goals are crucial to the success of the group as a whole. This aspect is closely mirrored in business majors with timelines and deadlines. The time management skills developed in music will benefit me greatly when I get into my business career.” —Morgan Anderson, Marketing, Trumpeter for the Machine “A business is very similar to a band in that you cannot have a band without many sections working together. Similarly, a business will not function without everybody in that business working together towards a common goal. This is what makes the band special because everybody has to be a team player.” —Lucas Besel, Business Management and Marketing with a minor in entrepreneurship and innovation, Snare drum in the Maverick Machine Drumline “As a management major, learning leadership skills has played an important role in being a section leader. Running my section much like a business team has been very successful. Music and arts have helped me a lot with creativity, determination and discipline. In music, every song will always take more than just a few tries. Being comfortable to fail and learn from it is one of the important things anyone can have in business.” —Kyle Fogal, Management, Mellophone section leader
Finance major, Dryden McKay, For the Save Minnesota State Hockey fans have seen it time and again over the last four years. The puck gliding down the ice, controlled by the opposing team who dodge defenders, making it inches from the goal. That’s when Dryden McKay ’22 springs into action. Fans hold their collective breath as the announcer’s voice booms: “Stopped by McKay!” McKay, a three-time All-American and 2022 Hobey Baker Award winner went 38-5-0 this season with a record-breaking 10 shutouts. Looking back on his college career, McKay is grateful. “It’s been awesome,” he says. “We’ve had a lot of success, we’ve won some championships, I’ve made some lifelong friends. … I’m very proud to be a Maverick. It’s been the best four years of my life.” It’s been a fantastic year for the Mavs hockey team as well, culminating in a trip to the Frozen Four in Boston. The team made it all the way to the finals where they lost the title to Denver. McKay, who graduated in the spring with a degree in Finance, signed with the Toronto Maple Leafs. As he skates into the next phase of his hockey career, the lessons he learned at Minnesota State Mankato will stick with him.
BEHIND THE SCENES FOOTAGE OF THE MAVERICK MACHINE, AND DRYDEN MCKAY
“Work ethic is the biggest thing. You’re not going to be successful in anything if you don’t work hard—whether on the ice for hockey or studying for a test—you have to have a good work ethic and you have to apply yourself,” he says. “That’s when you find success.”
WHAT IT MEANS
Mavericks in Business & Beyond These College of Business students pull double duty as reporters, parents, employees and more.
Max Mayleben Max Mayleben has served as editor-in-chief for the campus newspaper, The Reporter for two years. Journalism and management may not seem interrelated, but Mayleben finds his dual roles are a perfect fit.
Major: Business Management Started at The Reporter on the advertising side before moving into editorial.
Started Ope Outfitters as an Integrated Business Experience student, the first company to use drop shipping. The company is still active today.
Used skills learned in business classes to increase the paper’s budget.
Minor: Mass Media “I find myself using phrases I learned in my business classes [at the Reporter], especially with personnel stuff.”
“At the newspaper we get to watch people being Mavericks every day and talk about it and amplify that. It's been really cool to experience what it means to be a Maverick by being the ones who tell the stories.”
“You know, when they say real-world thinking, well, I'm actually using it in the real world.”
BEHIND THE SCENES AT THE REPORTER 26 / C OLLEGE OF BUSIN ES S I N R E V I E W
TO BE A MAVERICK
Bill Vikander
Autumn Ritter
MBA STUDENT & SUPER PARENT
BUSINESS MANAGEMENT MAJOR & INTERN EXTRAORDINAIRE
Bill Vikander earned a B.A. in Psychology in 2010 and wasn’t sure what to do next. He’s always had a passion for leadership and a head for business, so the Master of Business Administration (MBA) seemed like a good fit. Vikander and his wife, Jessica, live in Ramsey and have four kids—Nora, 8; Evie, 7; Leo, 3 and Lena, 2. Jessica is also working toward a master’s degree. On top of home and school life, Vikander works as a drone videographer for weddings, is on the board of his church and remains politically and civically involved in his community. It’s a full plate, but in the end, it’s worth it. “There are many challenging aspects to balancing multiple roles as a parent, a professional and a student. The hardest thing I've had to grapple with is sacrificing time away from family for work or studies. They are my strongest support system so I know in the end my family will be stronger for it. … Mistakes will be plentiful along the way, but what matters more is your resiliency in finding personal and professional growth in those moments.” Vikander currently serves as Director of Financial Aid at Anoka-Ramsey Community College and Anoka Technical College.
Autumn Ritter’s interest in business started all the way back in middle school when she joined Future Business Leaders of America (FBLA). Since then, she’s competed in a number of business competitions through FBLA and most recently in the Big Ideas Challenge (where she won the high-tech division and people’s choice awards). She landed her current internship at CBC Fisher Group through connections she made working at Dunkin’ in Mankato. “As an intern, I help out with any tasks that need to be done, but the majority of my work revolves around marketing and finance. I do a lot of our social media marketing on Facebook, Instagram and LinkedIn, as well as assisting the finance department with different asset management functions, and administrative assistance for anything related to brokerage, management or development. I am also currently working towards getting my Minnesota Real Estate License, so I will be able to get a lot more hands-on with the brokerage when I become a certified commercial real estate agent.”
Meet more members of the crack team putting their business brains to work on the campus’ weekly newspaper: BAYLEE SORENSEN
EMILY TOLAND
ADVERTISING SALES MANAGER
ADVERTISING SALES REPRESENTATIVE
Major: Marketing with a minor in Entrepreneurship and Innovation
Major: Marketing
“Working at The Reporter has given me a lot of confidence in my skills. Because of this newly found confidence, I have given myself bigger goals to be more than just the go-to marketing person for a business. I want to help all businesses create a personality for their brand that they can then go out and market confidently.”
“A class that has helped me in this job is Professional Selling. I learned about selling techniques and how to create sales presentations, and I’ve been able to apply those skills to the real world. The Reporter has helped me in my classes by staying organized while balancing work and school, as well as strengthen my time management skills.” M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 27
WHAT IT MEANS
Mavericks Ready, SET, Go 4 questions with Student Executive Team (SET) co-founder and chairperson, Manav Mendonça ’22.
First row L-R: Emilee Thomas, Josie Sandford, David Alimo, Manav Mendonça, Paige Nixt, Baylee Sorensen, Middle row L-R: Kevin Perez, Leo de Souza, Ibrahim Ellahi, Nick Eull, Back row L-R: Isaac Kenyon, Jake Hess, Andrew Kienholz, Advisor Samantha Campa
WHEN DID THE STUDENT EXECUTIVE TEAM START?
WHY IS SET AN IMPORTANT PART OF THE COB?
The concept of the College of Business Student Executive Team (SET) was formulated in the spring of 2021 but was officially up and running at the start of the fall semester last year.
Allowing for a team that, while working towards developing the college, provides advocacy from the student perspective is extremely important for the College of Business as it better fits the needs of all stakeholders.
HOW WILL SET PREPARE MEMBERS TO BE FUTURE BUSINESS LEADERS?
HOW DOES SET DEMONSTRATE THE MAVERICK MINDSET?
One of the biggest intangible benefits that come from being a part of SET is the ability to grow as future professional business leaders. Taking students that are already extraordinary leaders in their own way and placing them in a collaborative environment that while seemingly familiar, is also well beyond their comfort zone, allows them to grow their skills beyond what they were already capable of.
Demonstrating a strong Maverick Mindset is to exemplify values of integrity, inclusivity, perseverance and hard work. [That] empowers students to be able to overcome adversity and achieve their dreams.
The Student Executive Team began out of a desire for student leaders to shape the future of the College of Business. Dean Brenda Flannery researched similar programs around the country and championed the vision for SET. It costs about $40,000 each year to run the program, which covers student salaries, professional dress stipend and administrative support. Flannery used unrestricted foundation dollars to fund the first two years of the program and will be seeking outside funding sources to keep the program going. If you’re interested in donating to support SET, reach out to COB director of development, Cathy Willette at catherine.willette@mnsu.edu. 28 / C OLLEGE OF BUSIN ES S I N R E V I E W
TO BE A MAVERICK
FIVE TRAITS OF A
MAVBIZ BOOKSHELF Recommended reads and listens from COB faculty, staff and industry partners.
BOOKS Atlas of the Heart by Brene Brown Attack Your Day by Mark Woods Beyond Entrepreneurship by James Collins Beyond Grit by Cindra Kamphoff The Elements of Great Managing by Jim Harter The Myth of the Nice Girl by Fran Hauser The Four Tendencies by Gretchen Rubin The Practice of Management by Peter F. Drucker The Lucifer Effect by Philip Zimbardo The Night Watchman by Louise Erdrich
PODCASTS How I Built This (NPR) Marketplace (NPR) On Being (Krista Tippett) Work Life (Adam Grant)
Curious Risk-taker Creative Goal-Focused Disruptor
MAGAZINES Fast Company Bon Appetit Dwell The Atlantic
WANT MORE? SCAN THIS CODE TO VIEW EXTENDED INTERVIEWS, PHOTOS, VIDEOS AND MORE MAVERICK CONTENT. M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 29
Maverick Moves:
A Conversation with President Inch College of Business Dean Brenda Flannery sits down with new University President Dr. Edward Inch to discuss innovations in teaching, the future of higher education and what it means to be a Maverick.
30 / C OLLEGE OF BUSIN ES S I N R E V I E W
Brenda Flannery:
Every year we choose a different theme for the magazine, and this year we’re choosing the theme of “Being a Maverick.” It’s really exciting to be talking with you about that concept as a brand-new president of our University.
Edward Inch:
When I took the job, I studied what it means to be a Maverick. And I think Mavericks are different depending on what discipline you are in and what you choose to do with your life. I came out of speech communication and rhetorical studies. For us, the Maverick concept was one of showing your personal spirit, your drive, your ambition. Most of my career, I taught in a small Lutheran private institution. There, the notion of being a Maverick was finding your vocation and your place in the world. Here, I think it is about your creativity, your entrepreneurship, your inventiveness and how it is we try to make our world a better place using the unique gifts and skills that we have that we hone here at our University.
BF: We have a 153-year history as an institution of higher education. What are some of the topics that you foresee in the next chapter of our history? EI: I think our next chapter is going to be marked by changing the way we approach students. One of the things when you begin to look at education as aligning students, gifts, talents, resources and what we bring. So, if you imagine the student is the circle, what we bring is a circle. What emerges out of that. You know, where that overlap is, where there’s some unique opportunities to address the world. I think you’ll see education moving toward less time-based instructional output. … We’re seeing it now on this campus and we’re ahead of the curve in a lot of ways with the work that we are doing because this campus has already seen this coming beforehand. It’s work that you’re doing in the College [of Business]. BF: It’s exciting and I do think it’s very Maverick. EI: I think it is too. BF: Individuals who are high in maverickism are innovative, independentminded, goal-focused and successful. What do you think that we’re going to have to do as a University to encourage more maverickism? EI: The way I think you help move that change is show people it is possible.
So, I always begin with the partners in departments on the campus that see the vision, embrace the idea and are willing to try it out. Even if they fail. We learn, we develop good practices … and we invite others to join us. It sounds really daunting but it is certainly less daunting than if we sit back and do nothing.
The President’s Bookshelf Recommended reading from President Edward Inch: •
The Fourth Turning by William Strauss and Neil Howe
•
Subtract by Leidy Klotz
•
The Alchemist by Paulo Coelho
BF: We’ve really prided ourselves in the College of Business on pushing the envelope and creating new programs and new opportunities for students. Is there anything in particular that you’ve discovered about us as a business school that you would encourage us to keep pursuing? EI: There are pockets of strength across the University, but there are
commonalities among all of them. One is that the learning experience is experiential, and project based. That’s a feature I see that you do that is important and I think is going to be a hallmark of what the future of higher ed looks like.
This interview has been edited for space and clarity.
SCAN THE QR CODE TO VIEW THE FULL INTERVIEW M I NN E S OTA STAT E U N I VE RSI T Y, M AN KATO / 31
i t g n a r b e l e C
Fall 2021 IBE company, Minnesota Milers posing with their beanies
10 Years of the United Prairie Bank Integrated Business Experience
For a new business venture, every birthday is special—especially when you consider about half of small businesses fail within a decade. Of course, the United Prairie Bank Integrated Business Experience (IBE) isn’t exactly a small business, but program faculty member Shane Bowyer likes to look at it that way.
“Putting it in entrepreneurial terms, 10 years is a big thing for a company. It’s a big thing for a program like this as well.” Before IBE launched as a pilot program, Dean Brenda Flannery and others in the college dug deep into research about integrated learning experiences and how they benefit students. They found a thriving example at the University of Oklahoma, and even invited professor emeritus of management and expert in experiential learning, Larry Michaelsen, to campus to consult on the IBE.
and donate time and profits to charitable organizations. Not only has the IBE survived the 10-year mark, it’s thrived becoming the College of Business’ signature program. Now, with the launch of the Integrated Business Experience Certificate in the 2022-2023 academic year, students, directors and alumni have even more cause to celebrate. Join us in reviewing as we look back on highlights of the last 10 years of the United Prairie Bank Integrated Business Experience—and continue to look toward a bright future.
Since 2012, the IBE has helped students launch real companies; secure loans; develop, produce and sell products;
Turning 10 during a Pandemic The pandemic—which began impacting IBE companies in the spring of 2020—has changed the business environment for IBE students and faculty. Spring 2020 companies had to make a hard pivot to online selling. For those returning in Fall 2021, there was even more uncertainty. “Before the semester started, students were surveyed to determine how they planned on attending class—in-person or a combination,” according to the IBE annual report. “Students were put into companies according to their attendance preferences. This allowed for companies to attend in-person (if they were allowed) or be completed online.” 32 / C OLLEGE OF BUSIN ES S I N R E V I E W
Faculty also shifted approach, bringing in more guest speakers to help with online and social media selling, and lowering the requirement for in-person volunteer hours. Students knew what to expect going into this academic year, but students still reported issues because of it, including low foot traffic, lack of face-to-face communication and technology issues. Despite challenges, IBE students in the 2021/22 academic year reported gross sales of $32,711 across six companies.
2012
IBE pilot program launch
The first IBE company launches with 16 students Excellence in Curriculum Programing award from the Minnesota State system IBE is added to the College of Business curriculum
2013 Thanks to a $100,000 gift from United Prairie Bank, IBE becomes the first named program in the Minnesota State system
IBE company MNNice reports gross sales of $11,189, the highest in IBE history
2015 2018
The IBE takes flight as one of the programs featured in Delta Airline’s in-flight magazine, Delta Sky
MN Comfort employees log a record-breaking 1,343 service hours for local non-profit, Partners for Affordable Housing
2019 2020
IBE students pivot to e-commerce amid COVID-19 shutdowns
United Prairie Bank named Minnesota State Mankato's Corporate Philanthropic Partner of the Year for its work with the Integrated Business Experience
2021 Students taking the IBE will soon be able to earn an IBE Certificate that will show on their transcript
IBE company True North Essentials is featured on local station KEYC-News 12
2022 September 6, 2022, 10 Year Anniversary Dinner Celebration and Networking event
For more information visit cob.mnsu.edu/ibe M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 33
Talent Leadership: Food and Ag Executive recruiter and founder of Curtis Food Recruiters, Julie Curtis ’96 headlined the annual Richard Schmitz Food Entrepreneurship lecture series. The 2022 Richard Schmitz Food Entrepreneurship lecture series once again welcomed students, faculty, staff and the community to Ostrander Auditorium for a deep dive into the multifaceted world of food and agribusiness. This year’s topic centered on talent acquisition and diversifying the food and agriculture industry. Julie Curtis, who has worked in the food retail industry her entire career, was on hand to share how she took the entrepreneurial leap in 2006, starting her own food-specific recruiting firm, Curtis Food Recruiters. Curtis and Director of the AgriBusiness & Food Innovation Program, Shane Bowyer, sat down for a fireside chat. The following has been edited for length and clarity. To view the entire event, visit cob.mnsu.edu/foodlecture2022.
SB: What was it like taking the risk leaving the corporate world?
SB: What are the qualities food and ag companies are looking for in new hires?
JC: When I think back about it, I think I was probably overly confident. I didn’t have a real sense that this wasn’t going to work. That was part of my naivete. I’d still planned, and I saved and spent about a year thinking about that before actually taking the leap, but a big reason that I wanted to do that was to have a little bit more control and a little bit more balance.
JC: Communication skills are key; having eye contact and being able to convey your ideas is critical. [When it comes to interviewing]: doing your research, understanding the business, understanding your role and understanding what that business does and bringing your energy and passion whether that’s a first conversation, an interview and into that first role.
SB: Can you elaborate on the challenges of starting a business? JC: There are a couple things that no one tells you, and I think one of them is that you have to be all things when you start a business. You’re the only one. In my case I was the recruiter, I was the salesperson, I was the accountant, I was the marketing person, the PR person. You have to do everything and in many cases you’re not an expert. You’re an expert in the thing that you started out to do, and then little by little you are able to hire others that are experts in those fields. But the sales component and being the face of your brand never goes away. You’re always selling whatever that business is that you’ve started.
34 / C OLLEGE OF BUSIN ES S I N R E V I E W
SB: How can [students] prepare themselves to move up from those entry level jobs to being a leader within their industry or company? JC: I think patience is one of the keys; having enough time in each of those roles to learn what your contribution is to that particular business, really understanding the needs of that business and preparing yourself. Career development is also key at all levels and especially in smaller organizations you’re going to need to ask for it, it isn’t something that they just have a plan for.
Meet the Leader Julie Curtis is owner and President of Curtis Food Recruiters. She is a food and beverage industry professional with over 20 years of executive recruitment experience, as well as a Minnesota State University, Mankato marketing alumna. In 2006, she started her own company, Curtis Food Recruiters, and has recruited top level talent ever since. Her company was listed on Forbes’ America’s Best Executive Recruiting Firms and MSPBJ’s Twin Cities Largest Executive Search Firms in 2021.
SB: You’re a women-owned business, and you have a number of women who work for you. Talk about that in terms of the food and ag industry. JC: I feel very privileged in my life and my career to have not felt a lot of the ramifications of the gender divide within the food industry. That said, when people graduate from college it’s usually about a 50/50 split within the food industry (ag definitely leans toward men going into that industry), but what’s really interesting is that as we grow in our career as you go into a manager level position, that number instead of being 50 is closer to 35, and then it continues to go down as the levels go up. So as a senior vice president, executive vice president, chief executive officer and other C-level roles it’s only about 20 percent women in those roles and that’s something that we think about a lot in our firm. Recruiting people that are going to bring diverse thoughts into the business that are going to bring in new ideas and creative ideas is extremely important.
About the Endowment The Richard R. and Mary L. Schmitz Endowment for Opportunities in Food Entrepreneurship was founded in 1999. The fund supports an annual lecture by industry experts in the category of food entrepreneurship. This includes executives within a broad range of food processing, retailing and wholesaling industries. This series provides an opportunity for Minnesota State University, Mankato’s College of Business to engage the growing sector of AgriBusiness with our students, alumni and friends in a format that educates the community about growing needs in the agriculture world.
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 35
BAM!
A Registered Student Organization (RSO) for business students on the cutting edge.
I
n the future, most information is going to be bits of data,” says Dr. Ishuan Li Simonson, professor of finance. “In order to understand what those bits of data tell you; you need to have techniques and skillsets that allow you to analyze that in the proper context of a market economy.”
“Business analytics is primarily about critical thinking skills,” she says. “In the future, most information is going to be bits of data. In order to understand what those bits of data tell you, you need to have techniques and skillsets that allow you to analyze that in the proper context of a market economy.”
Li Simonson is the faculty advisor for the Business Analytics and Modelers (BAM) club. The registered student organization launched in 2020 under Li Simonson's guidance and has already grown to about 40 members. The goal of BAM is to introduce students to business analytics while building real analytics skills—and it’s not just for finance majors or even business majors.
Over the past two academic years, BAM students have participated in software workshops and recruiter events. Students also get to practice real-world data visualization using tools they’ll need to know after graduation.
“The majority of students in the club are business students, however this is a great club for computer science and statistics majors as well,” says BAM president Forrest Babcock. “One of the best parts about BAM is that the skills learned in this club can be applied outside of the classroom.”
“One example of this is our Tableau data visualization workshop,” says Babcock. “Many companies use Tableau on a regular basis so coming into an entry level role with a working knowledge of this software is extremely helpful.”
Li Simonson agrees.
36 / C OLLEGE OF BUSIN ES S I N R E V I E W
Forrest Babcock '22, graduate and BAM member of the year pictured with Dean Flannery, President Inch, and Dr. Ishuan Li Simonson.
The Gift of Research A $125,000 endowment will help to position the College’s annual Research Day as a premiere University research event. Dr. Luth Tenorio and Dr. Kathy Lund Dean celebrate the first Tenorio Research Lecture Series event.
T
he College of Business has been hosting its annual Research Day in support of faculty research for nearly 10 years. But the 2022 event was different. Not only was the event in person for the first time since COVID-19 shutdowns; it marked the first ever event sponsored by the new Drs. Narciso and Luth Tenorio College of Business Research Lecture Series Endowment.
The endowment was established by two former Minnesota State Mankato faculty, Luth and Narciso (Norge) Tenorio. Luth, (who was in attendance with family members) and Norge were both employed with Minnesota State Mankato for more than 30 years, Luth serving in the College of Nursing and Norge as professor and chair of the department of business law. Norge Tenorio passed away last year.
“The vision behind the Tenorio Research Lecture Series started almost three years ago,” Dean Brenda Flannery told the gathered faculty, staff and guests. “I remember sitting for hours with Norge in Florida and him wanting to know every detail about the College of Business. It may be my favorite two hours I’ve ever spent as Dean.” The Tenorio Research Endowment will allow for a guest researcher to present a keynote address in one of five academic disciplines in the College of Business. “I think Norge right now is smiling,” Luth told the crowd. “We would not be where we are if not for Minnesota State Mankato. It was a very pleasant beginning for us. I’m happy to be here and we are glad we were able to establish the Lectureship.”
The Gift at a Glance The Drs. Narciso and Luth Tenorio College of Business Research Lecture Series Endowment will help with expenses for: • Honorarium payment for guest researcher that rotates between five disciplines: accounting with an emphasis on business law, finance, international business, marketing and management. • Travel expenses for the lecturer • Marketing expenses to promote the event and research
Meet the First Tenorio Research Guest Speaker Tenorio research guest speaker Kathy Lund Dean holds the Board of Trustees Distinguished Chair in Leadership & Ethics at Gustavus Adolphus College in St. Peter, Minnesota. Lund Dean gave a presentation titled “Using experiential pedagogy effectively and ethically within a business school community of practice.”
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 37
RESEARCH BRIEFS 2022 College of Business Research Excellence Award Recipients — Presented at the Tenorio Research Lecture Event This year’s research excellence award recipients explore topics relating to financial literacy, how mindset impacts risk assessment, social responsibility in the marketplace and stock performance.
DR. LEON CHEN, Professor of Finance and DR. FERDINAND SIAGIAN, Associate Professor of Accounting Analysts’ Target Price, Stock Performance and Real Earnings Management We examine whether firm-level real earnings management (REM) activities have impact on future stock analysts’ target prices and future stock performance. Using the data of 1,775 U.S. firms during the period of 1999-2020, we find evidence that firms with higher REM activities in the previous fiscal year are associated with higher target-price implied 12-month ahead stock returns and higher dispersion of analysts’ estimates in the current year. Our results suggest that REM activities increase both analysts’ optimism and information asymmetry. We also document that firms with higher REM activities are associated with higher future 12-month stock returns, as well as higher future stock returns in excess of the target-price implied returns.
38 / C OLLEGE OF BUSIN ES S I N R E V I E W
DR. ISHUAN LI SIMONSON Professor of Finance The Impact of Financial Literacy on Sub-Prime Mortgage Decisions We explore the topic of financial literacy on the likelihood of choosing sub-optimal mortgage instruments (interest-only, adjustable mortgage rates) in residential mortgages in the United States. The Survey of Consumer Finance, 2016 and 2019, conducted by the Board of the Federal Reserve, includes for the first time the Big Three questions that make up the core of financial literacy questionnaires. This paper asks: Do financial literacy scores explain individual choices of sub-optimal mortgage choices in housing loans in the United States; and Do self-assessed financial risk tolerance and financial knowledge levels predict likelihood of taking riskier mortgage types by men compared to women? To answer these questions, we expand on the work from Agarwal and Mazumder (2013) and Lusardi and Tufano (2009). The empirical work includes ivprobit and Propensity Score Matching models.
DR. KRISTIN SCOTT Professor of Marketing The Compassionate Consumer: Values and Behaviors in the Marketplace Companies have learned that consumers expect them to be socially responsible, going beyond acting legally to behaving ethically and philanthropically. This evidence suggests that there may be a deeper personality trait that increases the likelihood that consumers will exhibit pro-social or pro-environmental purchase behaviors. This research seeks to explore the role of compassion in consumption and to understand whether it might be a more fundamental motivation for a variety of consumption behaviors. Our first study found that compassion appears to motivate consumers to be ethical themselves and buy from companies that are socially responsible. However, somewhat surprisingly, we find that compassion is not related to purchasing environmentally friendly or fair-trade products, suggesting a more nuanced view of compassion’s effect on consumer behavior. Our second study will explore two additional research questions using an experimental design: When should compassion be used to encourage consumers to purchase products or donate to a charity? Can companies be seen as being compassionate and how does this impact subsequent consumer behaviors? We believe that compassion will continue to play a role in the marketplace as topics such as the covid pandemic and climate change continue.
DR. BYRON PIKE Associate Professor of Accounting The Effect of a Deliberative versus an Implemental Mindset on Auditors’ Fraud Risk Assessments Financial Statement Auditors (hereafter auditors) are responsible for detecting all material misstatements, whether derived from error or fraud. Unfortunately, auditors struggle to identify and respond to the warning signs of fraud. Some ponder whether auditors possess the necessary expertise to appropriately evaluate and detect fraud. A forthcoming publication finds that auditors can indeed improve their fraud detection performance if they adopt the perspective of a forensic specialist. What is less understood are the cognitive mechanics of why the forensic perspective improves auditors’ fraud detection. In this study, we apply the theory of mindsets to further understand the cognitive approach that best aids auditors in their fraud detection performance. In an experimental setting, we plan to encourage participants to adopt either a deliberative or implemental mindset and then evaluate their performance on a fraud case where a business has many cues of potential fraud. Given its profound impact on mitigating the possibility of fraud, we will also manipulate control risk, whereby the entity will either have (or lack) adequate internal controls. The results will not only inform the preferred cognitive approach for auditors to detect fraud but also will lay the foundation for future decision aids or interventions that can improve the performance of auditors in practice. M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 39
STUDENT SOUND OFF THE COB STUDENT EXECUTIVE TEAM WEIGHS IN ON
MAVERICK
WHAT IT MEANS TO BE A
“Being a Maverick to me means community. The campus is a perfect size. The faculty and students have that Minnesota Nice quality to them, very friendly and willing to help! Attending school at Minnesota State Mankato has taught me more about the importance of challenging myself, taking risks and believing in my skillsets. I have met awesome people that have inspired me to keep saying yes. I was able to build confidence with the real-world experiences such as the Integrated Business Experience and being on the Student Executive Team.”
—Paige Nixt, ’22, Marketing, Business Analytics and Graphic Design; DSP President
“Being a Maverick means advocating, communicating, representing and leading by example, a legacy passed on to me with the utmost trust. Once a Maverick, always a Maverick!”
—Ibrahim Ellahi, International Business and Marketing, minor in Entrepreneurship & Innovation; Enactus President
“What it means to be a Maverick is different for every student. And that’s the beauty of it. To be a maverick means to come as you are. Whomever you are, wherever you are. This college offers unbiased support for every individual and embraces their uniqueness. Being a Maverick means making a commitment to bettering yourself and those around you.” —Andrew Kienholz, Marketing
“Being a Maverick means to be all in, all the time. To always try new things because you never know where it may lead or who it may lead you to. The best part is that being a Maverick is always a good time.”
“What it means to me to be a Maverick is someone who is persistent and pursues their dreams no matter what obstacles get in their way!”
—Isaac Kenyon, Marketing
—Baylee Sorenson, Marketing, minor in Entrepreneurship; VP Marketing Club
“What it means to be a Maverick to me is to strive for efficiency while holding a resilient and ambitious mindset to drive yourself forward. If there is one lesson that I can take out from my four years as a student at Minnesota State Mankato, it is that you cannot possibly achieve prosperity and growth if you don’t tap into untapped territory. I strongly believe that my tenacity to try new ventures, despite my failures, was key for me to hone my skillset and gain experiences to allow room for maturity.” —Kevin Perez ’22, Accounting, MAcc Graduate Assistant
“To be a Maverick means everything in the world to me. In my last four years of being a Maverick, I have created fruitful and lasting relationships, gained valuable experiences, got involved on campus, and most importantly, helped Minnesota State Mankato and myself maintain a positive reputation as a Maverick. I will never forget the amazing memories I have gained in my college experience, and I will always be thankful for every relationship, opportunity and experience I have received while in college. I will take everything I have learned and apply it throughout my future endeavors.
—Jacob Hess, ’22, Sport Management and Marketing, Integrated Business Experience Certificate
40 / C OLLEGE OF BUSIN ES S I N R E V I E W
FACULTY LEADER: Dr. Ann Kuzma
D
r. Ann Kuzma, department chair and professor of marketing and international business thought she might go into advertising after college. Her older brother owned an advertising agency, so it felt like a natural next step. Then the chair of her undergraduate marketing department suggested graduate school. The rest is history.
Kuzma, who grew up in northeastern Ohio, has been with the College of Business since 1989. She’s honed her skills as a teacher while staying relevant with the ever-changing marketing landscape. “My approach has evolved over the years,” she says. “Although it would appear that my primary objective as a college educator is to provide students with information related to the subject matter, my main obligation is to help students to develop critical thinking and problem-solving skills as they are learning the subject matter. I attempt to develop courses that are challenging, yet fair and at all times relevant to the students’ needs.”
We asked Kuzma for a look into her life in and out of the classroom. How do you embrace the Maverick spirit? I embrace the Maverick spirit by being open to ideas, and new ways of doing things.
My favorite spot on campus is: The fitness trail.
My favorite teacher growing up was: Sister Mary Anne (8th grade)
Open my fridge and you’ll always find: Milk.
If I wasn’t a professor I would be: A lawyer.
I laughed out loud in class when: I have a pretty good sense of humor. I laugh a lot—frequently at myself. I love being a Maverick because: I feel that I’m making a difference.
In the summer I like to: Spend more time with my family. I run year-round, but I can do more distance running in the summer. I also like to bike.
A SALES PROFESSOR'S LEGACY Kuzma and her late husband, John, accepted teaching positions in the College of Business’ marketing department the same year. John had a background in sales and was instrumental in establishing a sales focus within the College that included the Center for Sales Excellence, and the installation of a chapter of Pi Sigma Epsilon, National Professional Fraternity in Marketing, Sales Management and Selling. John Kuzma passed away in 2017, but the groundwork he laid has made way for the soon to be established certificate in Professional Selling, as well as a course in Advanced Selling and a Sales Internship.
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 41
Big Ideas Back in Person After two virtual years, the annual business pitch competition returned to Ostrander Auditorium. It was good to be back in person. Instead of pre-recorded introductions, student entrepreneurs once again stepped on stage at Ostrander Auditorium to make a pitch in front of a live audience for why their Big Idea is best. Five student-led companies braved the stage, each vying for the top prize of $5,000—along with secondary awards for tech winner and people’s choice. Center for Innovation and Entrepreneurship Director Shane Bowyer welcomed the audience back to Ostrander as the annual entrepreneurial pitch competition kicked off. “It’s good to see everyone’s faces,” he said. “This [event] is about five young aspiring entrepreneurs who are out here to showcase what they do. … Get your pens out; we’re going to get the show on the road!”
42 / C OLLEGE OF BUSIN ES S I N R E V I E W
USIL Omar Elkenawy First Place Winner $5,000
From left to right, Qamrunnisa Fnu, Sumit Mahajan, Omar Elkenawy, Autumn Ritter and Skyler Smith Missing from the photo Sharmake Noor.
MEET THE ENTREPRENEURS ELEVATUS Skyler Smith Third Place Winner $2,000 Skyler Smith was the first to step into the spotlight with his startup manufacturer of height adjustable kitchen island frames. Smith started with his “why” moment. It was Thanksgiving evening and Smith was facing a sink full of dishes. “I’m a tall guy so bending over a sink really takes a strain on me—and I don’t think I’m the only one,” he said. Smith is a student at the Twin Cities integrated engineering program. Over the past two months Smith has led a team of engineers in developing the scissor lift frame that will lift any cabinet or countertop. ELEVATUS is moving quickly, hoping to launch a Kickstarter campaign in June with the end goal of delivering the first island frame by September 1, 2022.
X-Lease Sharmake Noor Finance major Sharmake Noor was up next. Noor was among the many students who began his college career fully online in the midst of COVID-19. He was excited to finally be able to move to Mankato and settle into college life, but found it nearly impossible to rent student housing online. “The typical rental sites like apartments.com have ignored student housing because it’s a niche market,” he said. That’s when
X-Lease was born. The easy-to-use platform would allow student renters to search, filter and find the perfect match. They would then be able to fill out an application and reserve a spot all from their phone.
Dialekt
Computer Engineering major, Omar Elkenawy started his presentation with a statement: Many of us take the ability to speak for granted. Elkenawy, whose first language is not English, admitted that even for him it is hard to stand up and speak in front of a crowd in his non-native tongue. “Let’s think about people who don’t have the ability to talk at all,” he said. That’s where USIL comes in. The goal of USIL is to develop an app-connected smart glove that converts sign language to audible speech. Elkenwy is working to expand his prototype to include more languages, expand his team and improve USIL’s functionality.
Dr. Queen Bee LLC Sumit Mahajan & Qamrunnisa Fnu Second Place Winner $3,000
Autumn Ritter High Tech Division Winner $4,000 People's Choice Winner $2,000 Autumn Ritter is a Business Management major, but her idea came from inside her own home. Ritter’s roommate, a speech pathology student, expressed how speech pathologists are fearful of misdiagnosing multilingual students with speech disorders, hindering their education. Ritter looked into it and found multilingual students are at a much higher risk of being diagnosed with a speech disorder. “With one in three students speaking more than one language it creates a huge overabundance of children placed in special education that ultimately don’t need to be there,” she said. There are currently no accessible assessments designed for speech pathologists to diagnose multilingual students. Ritter’s app, Dialekt fills that gap. The app is intended to help speech language pathologists identify dialects in their clients, so as not to misdiagnose any children with speech disorders.
Sumit Mahajan, a mathematics graduate student and Qamrunnisa Fnu, an MBA student decided to raise bees five years ago. “In the process of raising bees we came to know many valuable lessons,” Mahajan said. “We’re here to share one of the lessons we’ve learned from bees.” As Fnu and Mahajan learned about how bees care for their own health, they were inspired to create Dr. Queen Bee, a raw honey and herb and spiced honey company that offers humans health through honey—and creates awareness of the importance of bees for the planet. “To us bees represent healthy lifestyle, food security and a balanced ecosystem. “We started Dr. Queen bee with a vision to make our planet a healthy and happy place and a mission to inspire healthy living,” said Fnu.
For more information visit cob.mnsu.edu/bic
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 43
From Big Idea to Thriving Business Big Idea Challenge winner Logan Sendle returned to the stage to offer advice and an update on his company.
L
ogan Sendle was one of the Big Ideas students who experienced a hard pivot in the spring of 2020. Instead of presenting his weed removal company, Lakeshore Potential, on stage in Ostrander as planned, he and his cohort found themselves talking into laptop cameras in the early days of the COVID-19 pandemic.
Sendle took home the win in 2020 along with the People’s Choice award for a total of $7000. He returned to the Big Ideas Challenge two years later as a first-round judge. As the judges deliberated during the 2022 competition, Sendle joined Bowyer on stage to talk about what he—and Lakeshore Potential—have been up to since his win. He started by expressing appreciation for the in-person format. “When we changed [platforms] to online a month before the competition that’s when I got nervous,” Sendle told the audience gathered at Ostrander. “I like being up in front of people where I can read the room a little better.” Sendle used his Big Ideas prize money to purchase a dump trailer. He also recently bought out his partner and is set to purchase a 7-acre property near Madison Lake to take his business to the next level.
Thanks to our generous donors behind the 2022 Big Ideas Challenge.
Primary Sponsor Craig ’72 & Pat Lloyd, Founders of Lloyd Companies
Additional Sponsors
“I don’t think we’d be as far without [the Big Ideas Challenge],” he said. Sendle’s best advice to up and coming entrepreneurs? Just start. “You can talk about it for ten years and then it’s going to be too late. If you have an idea and you’re passionate about it just jump in and ask for help from other people around you.”
High-Tech Sponsor Daren ’04 & Sarah ’04 Cotter
Logan Sendle of Lakeshore Potential and Dr. Shane Bowyer
44 / C OLLEGE OF BUSIN ES S I N R E V I E W
BIG IDEAS CHALLENGE EVENT VIDEO
The clear business school choice for real-world learning ACADEMIC PROGRAMS
REAL-WORLD EXPERIENCES
Accounting • • • •
Center for Innovation and Entrepreneurship
Master of Accounting (MAcc online) Graduate Certificate in Taxation Bachelor of Science in Accounting Minor in Accounting
Recognized Student Organizations • More than 15 to choose from
AgriBusiness
United Prairie Bank Integrated Business Experience
• Bachelor of Science in AgriBusiness & Food Innovation • Minor in AgriBusiness & Food Innovation
Big Ideas Challenge
Analytics
Study Abroad and Away Opportunities
• Certificate in Business Analytics
Business Administration
• Master of Business Administration (MBA online) • Bachelor of Business Administration (BBA online) • Minor in Business Administration
Minor in Business Law
Finance
• Bachelor of Science in Finance » Emphasis in Financial Planning » Emphasis in General Finance » Emphasis in Analytical Finance • Certificate in Business Analytics • Minor in Financial Planning • Minor in Actuarial Science (housed in Math Dept.)
• Bachelor of Science in International Business • Minor in International Business
• Bachelor of Science in Marketing • Minor in Marketing
Daryl and Karyl Henze Student Ag Innovators Leadership Program Stangler Internship Initiative Wall Street Journal Program
Global Entrepreneurship Week COB Learning Communities
• Bachelor of Science in Management » Emphasis in Human Resources » Emphasis in Business Management • Minor in Human Resources • Minor in Entrepreneurship & Innovation • Certificate in Integrated Business Experience
Marketing
Richard and Mary Schmitz Food Entrepreneur Lecture Series
Meet the Firms Event
International Business
Management & Entrepreneurship
Maverick Student Investment Fund Various Business Competitions
Business Law •
• New York Study Tour • Belize Fair Trade Study Abroad • The European Experience
Student Engagement Fair MBA Executive Seminar (for MBA students) Networking and Mock-Interview events
LEARN MORE AT COB.MNSU.EDU
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 45
THE BIG PICTURE The results are in! These are COB students’ favorite study spots: Winner: • MavPods above Einstein Bagels
Runners Up: • Hearth Lounge in the CSU • Morris Hall Crossroads • Basement of the Library / MavPods
Hearth Lounge in the CSU
46 / C OLLEGE OF BUSIN ES S I N R E V I E W
M I N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 47
120 Morris Hall Mankato, MN 56001
Cathy Willette joined the Minnesota State University, Mankato Foundation as the Director of Development for the College of Business in November of 2021. But if you ask her, she has always been a Maverick. Willette started her higher ed journey as a firstgeneration student at Minnesota State Mankato in 1982. The Mankato resident is married and has three grown kids (all Mavericks as well). “I had been working in leadership roles in the higher ed technology industry for many years. Some advice from a mentor helped me think about what is important to me—and what I might like to do as my next chapter,” she says. “I have a passion to help students achieve their dreams through education. This position allows me to have a much more up-close and personal impact on students.” In her new role, Willette has enjoyed meeting alumni and learning their Maverick stories. As she likes to say, “sometimes life’s journey takes you back home. Once a Maverick, always a Maverick!”
Cathy Willette, Director of Development catherine.willette@mnsu.edu | 507.389.2578 Giving link engage.mnsu.edu/cobinreview
#mavbiz
