MSU College of Business 2011 Annual Report by Montana State University

TITLE

MONTANA STATE UNIVERSITY

College of Business

JAKE JABS ENDOWMENT OUTSTANDING STUDENTS FACULTY & PROGRAMS ALUMNI & FRIENDS COMMUNITY INVOLVEMENT HONOR ROLL OF DONORS

2011 TO

2012

ANNUAL REPORT

B U I L D I N G

F O U N D A T I O N

2011 College of Business

NATIONAL BOARD OF ADVISORS ADMINISTRATION & STAFF Susan Dana J.D., Interim Dean Bruce Raymond Ph.D., Associate Dean Harry Benham Ph.D., Associate Dean & Director of the Bracken Center Chris Lamb Ed.D, Assistant Dean Audrey Lee Director of Communications & Public Relations Jackie Sather Director of Development Brenda Truman Assistant Director of Student Services Linda Ward Assistant Director of the Bracken Center Lisa Daniels Director of the Bracken Business Communications Clinic

Shavon Cape JWT

Alan Fuhrman Naviscan

Andrew S. Martzloff Bitterroot Capital Advisors

Ed Rice Zoot Enterprises, Inc.

Susan J. Carstensen RightNow Technologies

David Hill KPMG, LLP

Paul Matteucci U.S. Venture Partners

Kalli Ryti First Interstate Bank

Bridget Cavanaugh O’Berry Cavanaugh

Karen L. R. Howard Enchantment Land CDC

Sid Miner Consultant

Jim Edwards Mountain West Benefit Solutions

Alan Kahn Entrepreneur

Michael Monaghan UBS Financial

Kathy Sanchez Northwestern Mutual Financial Network

Susan King Consultant

John O’Donnell Tech Ranch

Donald C. Larson Boeing

Scott Peterson Wells Fargo Bank

Todd Eliason Rock Creek Associates Andrew Field PrintingForLess.com, Inc.

James C. Taylor, Jr. Bostwick Properties, Inc. Janice K. Whetstone Janice K. Whetstone, P.C.

ACCOUNTING ADVISORY BOARD Stefani Freese Anderson ZurMuehlen Shawn Harrison RightNow Technologies Scott Holton Rudd & Company Jeremy Hauk Eide Bailly, LLP

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Morgan Scarr Junkermier, Clark, Campanella, Stevens, P.C.

Heather King Ernst & Young, LLP

Stacey Scott West Paw Designs

Todd Williamson MorganStanley SmithBarney

Erica (Ricki) Lewis Microsoft

Ryan Screnar Glacier Bancorp

Dawn Wrigg Rudd & Company

Scott Miller SJM Consulting

Tom Simkins Simkins-Hallins Lumber Co.

Rick Reisig Anderson ZurMuehlen

Paul Tucci Moss Adams

Chris Smith BDO

Montana State University College of Business 412 Reid Hall · PO Box 173040 · Bozeman, MT 59717-3040 www.montana.edu/cob We would like to thank the College of Business (CoB) faculty and staff, as well as Montana State University (MSU)’s University Communications, without whom this report would not be possible.

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helping build a brIGhter Future

Design for this Annual Report by MSU Publications and Graphics, University Communications. Abstract architectural photos by Kelly Gorham, MSU News, University Communications. Photographs provided by the CoB, except where noted. Editorial assistance provided by Lisa Daniels and Rilla Esbjornson of the CoB. The printing of this Annual Report is funded in part by a grant from D.A. Davidson & Co.

THANK YOU D.A. Davidson & Co. for your sponsorship of the CoB Annual Report.

Table of

CONTENTS 4 Letter from the Dean 5 College of Business Programs 6 Montana State Alumnus to Give $25 million to the MSU College of Business 8 Year in Review

OUTSTANDING STUDENTS 11 2011 Graduating Student Profile 12 Second Executive’s Closet a Huge Success 14 CoB Students Inducted Into the Beta Gamma Sigma Honor Society 15 The Main Event Introduces Students to the World of Event Planning 15 Four CoB Seniors Honored with Awards for Excellence 16 Sixteen College of Business Students Get a Taste of Wall Street 18 MSU Students Take Second Place at Regional Advertising Competition 19 Students and Faculty Honored During Graduation Celebration 19 MSU Team Takes 2nd Place in “Global Research Challenge” Competition 20 The MSU SIFE Club Competes and Excels at Atlanta Regional Competition 21 MSU Alumna Shares Lessons Learned With Scholarship Recipients 22 Beta Alpha Psi Student Team Takes Second Place at Regional Conference 23 MSU Leads in the D.A. Davidson Investment Class in Net Gains

FACULTY & PROGRAMS 25 Internships: Sponsoring Firms 26 Professional Coaching Clinic Proves Beneficial to Student Success 28 MPAc Professional Workshop Resonates with Students 29 Accounting Professor Appointed to the Editorial Board of Issues in Accounting Education 30 Shannon Stowell, Entrepreneur-inResidence: How Adventure Travel Saves the World 32 College of Business Retention Grant Helps Improve Student Participation 33 Craig Ehlert Appointed to 2011 Board of Examiners for National Award 34 Microbrewery Documentary Appears in the New Edition of Consumer Behavior Textbook 35 New Faculty: Nate Jeppson 36 Faculty Updates

40 MSU College of Business Providing More International Opportunities 41 Life Changing Experiences from Traveling to the Other Side of the World 43 New Faculty: Brent Rosso 44 Stu Bohart Brings Wall Street to MSU, as Fall Orser Speaker 46 Google Executive Speaks to Students, Gives Insight into Business and Technology 47 College of Business Assistant Professor Receives “Best Paper Award” in Academic Journal 49 College of Business: 2011 International Exchange Students

COMMUNITY INVOLVEMENT 50 Entrepreneurship Course Provides Students with Real-world Business Experience 51 2011 Guest Speakers 52 CoB Students Work with Montana Company to Find the “Rite” Business Solution 54 More Montana High Schools Attending Fall Entrepreneur Day 56 More than 230 Students Attend CoB Meet the Recruiters Fairs 57 10th Annual Golf Tournament Supports Students 58 Students Continue to Volunteer in Alaska Over Spring Break 59 Entreprentice Assignment Gives Students First-hand Entrepreneurial Experience 60 Seven Businesses Win 2011 Montana Family Business Awards 62 Out of the Classroom, Into the Community 65 College of Business Clubs

ALUMNI & FRIENDS 66 Continue to Create Something Extraordinary 67 Board Member: Shavon Cape 68 CoB Alumnus Honored with Blue & Gold Award during Homecoming 69 Board Member: Scott Peterson 70 Unique Partnership Brings Together Town and Gown at Women’s Conference 71 In Memoriam: Harvey Larson (1923-2011) 72 Jake Lewendal: Making His Mark 74 Rebirth of the Rocking R Bar

HONOR ROLL OF DONORS 77 List of Donors 83 Thank you to our College of Business Staff

Letter

FROM THE DEAN As you will read in the pages of this Annual Report, 2011 was a historic year for the College of Business (CoB) and Montana State University (MSU) as we received the largest private gift ever in the history of the Montana University System. Jake Jabs (’52), CEO of American Furniture Warehouse, announced in October that he was pledging $25 million for a new CoB building and to support programs for the benefit of our students. If approved by the Montana Legislature, ground could be broken in summer 2013 with an anticipated completion date of 2015. Thanks to Jake, this building will enable us to create inviting and professional spaces that will promote collaboration and creativity among students, faculty and the business community, thus allowing the College to take yet another significant step toward creating an extraordinary experience for our students. We are grateful to all of our donors for their contributions to making our vision a reality. Please note the names of our major donors throughout this Annual Report and thank them for their generosity.

Susan Dana

I hope you can take some time to read about the many successes at the College, from winning performances by students at competitions to awards won by faculty members to the most successful Entrepreneur Day ever. These accomplishments are just the most visible evidence that the College is serving students and the state of Montana every day in many ways. Thanks to our talented faculty, staff, students and friends, we are just beginning our journey to transform the College and our students’ experience. One part of our journey has been the departure last June of our dean, Dr. Dan Moshavi, and the recent selection of Dr. Kregg Aytes to be our next dean starting in July 2012. Dr. Aytes, who holds a PhD in Management Information Systems and is currently the Interim Dean at the Idaho State University College of Business, was selected from among a large and competitive pool of applicants for the position. I am very confident that Dr. Aytes will bring great energy, experience and vision to the College. I have been honored to serve as Interim Dean and look forward to working closely with Dr. Aytes in the future. We reluctantly said goodbye in 2011 not only to Dr. Dan Moshavi, who was drawn to a dean’s position in California, but also to Dr. Nancy Dodd and Dr. Rich Semenik, both of whom retired from MSU. Dr. Dodd was a faculty member in the management option for 22 years and served for many years as Director of the College’s Family Business Program and as University Ombuds. Dr. Semenik served as 2 01 1 WA S A H I S TO R I C Dean from 2000-2008 and as professor of marketing from 2008-2011. Both influenced the YEAR FOR THE COLLEGE evolution of the College in very significant ways OF BUSINESS AND MSU and we will miss them both enormously. njoy the stories in this Annual Report, and E please check our Website and Facebook pages often as we don’t let grass grow under our feet around here!

A S W E R E C E IV E D TH E L A RG E S T PR IVATE G I F T E V E R I N T H E H I S TO RY O F T H E M O NTA N A U N IV E R S IT Y SYS TE M . S USAN DANA

Susan Dana Interim Dean

COLLEGE OF BUSINESS PROGRAMS Undergraduate Academic Programs

Minors

Accounting

Finance

Business Administration

Management

Entrepreneurship and Small Business Management

Marketing

International Business Management of Information Technology

Graduate Academic Programs Master of Professional Accountancy

International Opportunities International Business Club

Community Outreach & Professional Services

Internships

Bracken Business Communications Clinic

Language Study

Entrepreneurial Consulting Classes

Study Abroad

Family Business Program MPAc Professionalism Workshop Professional Coaching Clinic Womenâ&#x20AC;&#x2122;s Circle of Excellence

Centers of Excellence Gary K. Bracken Center for Excellence in Undergraduate Business Education Jake Jabs Center for Entrepreneurship for the New West

Montana State Alumnus Gives $25 MILLION TO MSU COLLEGE OF BUSINESS A Montana State University alumnus announced that he will give an unrestricted $25 million gift to MSU’s College of Business. It is the largest private gift made in the history of the Montana higher education system.

Jake Jabs, MSU alumnus

The gift is being made by fostering cooperative work between business Jake Jabs, who grew up on a students and students in other disciplines, farm near Lodge Grass, MT, such as engineering, the sciences, agriculture, in a home with no indoor graphic arts and the humanities. plumbing, electricity or “Collaboration and team work among profesrunning water. Today, Jabs sionals from many different fields is the future is president and CEO of of business, and Mr. Jabs’ gift will help us preAmerican Furniture pare our students for that world,” said Susan Warehouse based in Denver, Dana, MSU College of Business interim dean. one of the largest retail furniture companies in the Last year, Jabs made a $3 million gift to the United States. MSU College of Business for the Jake Jabs Center for Entrepreneurship for the New West. “Thanks to his generosity, Mr. Jabs’ visionary gift will benefit generations of students to come,” said MSU President Waded Cruzado. “On behalf of all of us at MSU, I would like to offer Mr. Jabs our most sincere and heartfelt thanks and appreciation.”

As part of a comprehensive strategic plan for the College of Business, Cruzado said she will seek approval from the Montana Board of Regents and the Montana Legislature to construct a new building for the College of Business on the campus of Montana State in Bozeman. “Mr. Jabs’ gift provides us with the necessary financial strength and flexibility to begin to advance our College of Business,” Cruzado said. “A new building is a necessary first step. We have a bold plan for the future of the College of Business—for it to be one of the best in the nation—and Mr. Jabs’ gift will get us started. We hope others will join us in building the best program possible for our students and the state. Imagine what we can do together.” If approved, ground could be broken on the estimated $18 million to $20 million building in the spring of 2013 with completion in 2015. The gift will also be used for new scholarships and new academic programs in: entrepreneurship, professional skills development and

“I hope my gifts inspire others to contribute to the future of entrepreneurship education at MSU,” Jabs said. “So many of us in business have been so well served by our education from Montana State, we should do what we can to help the next generations be successful too.” The fourth of nine children, Jabs and his siblings never thought of themselves as poor, despite their circumstances, Jabs wrote in his autobiography in 2000. Instead, his parents taught their children the importance of selfconfidence, the courage to take risks, the importance of developing hobbies outside of work and caring about things other than money. Jabs also credits his parents, who immigrated from Russia and Poland, for providing him with a strong work ethic, and Jabs’ father— who had no formal education beyond the second grade—shared with his children his belief that education was essential. “He said he felt left out because of his education,” Jabs said. “He wasn’t able to get any education beyond the second grade in Poland and my mother only went through the seventh grade. Both of them wanted their children to get an education, and so my dad gave us enough money to start college.

“They believed it would open doors for us, give us opportunities we wouldn’t have otherwise had—and they were right,” Jabs said. “Education gave me the confidence to take risks, and taking risks is key to being successful.” After graduating from high school in Hardin, Jabs enrolled at what was then Montana State College and graduated with a degree in vocational agriculture in 1952. During his college years, he played with the Montana State band, was on the MSU rodeo team, joined the ROTC, and took many elective courses, which he said helped him explore a variety of subjects and ultimately helped him pursue several different careers throughout his life, including music and business. And, though his studies were focused on agriculture, his business instincts and entrepreneurial spirit were evident even as a college student and young adult. Jabs and one of his brothers worked their way through college doing odd jobs and playing music. Later, after serving in the U.S. Air Force and working as a musician in Nashville, Jabs returned to Bozeman, where he bought a music store. He secured a loan from the bank to buy out his partner in the store only after putting up as collateral cattle from his family’s ranch. Jabs’ first serious venture into the furniture business came in 1968, when he opened a highend furniture store, Mediterranean Galleries, with locations in Denver, Colorado Springs, Pueblo, CO and Billings. Five years later, Jabs decided to close the business. Then, in 1975, he purchased a struggling furniture business, renaming it American Furniture Warehouse.

Jabs, well-known in Colorado for his philanthropy, believes gifts to education provide a great benefit for the future. “My own life experience leads me to believe this is where my efforts can do the most good,” Jabs said. “I think of all the students who might come from circumstances like mine, and I want to help them.” Dana, the interim dean of the College of Business, said Jabs’ gift will help the college overcome space, staffing and program constraints that it currently faces. “Our home in Reid Hall is holding us back from doing so many things,” Dana said. “A new building would give us space for advising, classrooms and one-onone work with students. Additionally, adding new programs will help us truly become a nationally recognized program and allow us to contribute in important ways to economic development in Montana.” The head of the MSU Alumni Foundation, the non-profit alumni and donor relations arm of the university, also expressed appreciation for the gift. “This is a very meaningful gift to Montana State University,” said Michael Stevenson, president and CEO of the MSU Alumni Foundation. “In every way, Mr. Jabs’ life is a testament to the value of public higher education. His generous support of his alma mater will create endless opportunities for our students, and for this we are most grateful.” October 14, 2011—Anne Cantrell, MSU News Service

Since then, American Furniture Warehouse has experienced remarkable growth and expanded into a 12-store operation. Jabs, who is 80, remains responsible for the day-to-day operations of the company and also oversees the company’s team of buyers, often traveling to Asia on purchasing trips. Today, American Furniture Warehouse is one of the top retail furniture companies in the U.S. and one of the largest privately held businesses in Colorado, with sales topping $300 million annually and 1,500 employees throughout Colorado. Jake Jabs speaks to CoB students in Reid Hall.

M R . JA B S’ V I S I O N A RY G I F T W I L L B E N E F IT G E N E R ATI O N S OF STUDENTS TO C O M E . WADED CR U ZADO

Jake Jabs and MSU President Waded Cruzado.

8 TITLE

MONTANA STATE UNIVERSITY

College of Business

YEAR IN REVIEW

2 0 11 JANUARY · SIFE CLUB: ONE OF 50 NATIONAL WINNERS OF THE LOWE’S COMMUNITY IMPROVEMENT CHALLENGE · F INANCE CLUB STUDENTS TRAVEL TO NEW YORK CITY TO EXPERIENCE WALL STREET · PILOT PROFESSIONAL COACHING

· TOM BROKAW VISITS MONTANA

· ACCOUNTING STUDENTS TRAVEL TO

· MSU VITA PREPARED TAXES

ALASKA THROUGH VITA PROGRAM

FEBRUARY THROUGH APRIL · SPRING ENTREPRENEUR-INPROGRAM · F INANCE STUDENTS PLACE 2ND IN CFA CHALLENGE

MARCH · AWARDS FOR EXCELLENCE: STUDENTS AND THEIR FACULTY MENTORS HONORED

· STUDENTS VISIT AMERICAN FURNITURE WAREHOUSE IN DENVER, CO.

RESIDENCE: GARY GANNON—NEW

CLINIC (PCC) LAUNCHED

FEBRUARY

· BETA ALPHA PSI TEAM PLACES 2ND

STATE UNIVERSITY (MSU)

· HR MANAGEMENT CLUB: THE MAIN EVENT · BIG 3+1 SPRING ORIENTATION · WEALTHVEST MIXER

· BUS 101/BRACKEN BUSINESS COMMUNICATIONS CLINIC RECEIVES RETENTION GRANT

M AY · W2 CONFERENCE · COMMENCEMENT

APRIL

· GRADUATION CELEBRATION

· BETA GAMMA SIGMA INDUCTION

· ADVERTISING CLASS TAKES 2ND

· SPRING ORSER SPEAKER: JEFF SUNDHEIM, GOOGLE

PLACE · DODD AND SEMENIK RETIRE

· SCHOLARSHIP BANQUET · SIFE TEAM FIRST RUNNER UP IN ATLANTA REGIONAL COMPETITION

JUNE · CRAIG EHLERT APPOINTED EXAMINER FOR 2011 MALCOLM BALDRIGE NATIONAL QUALITY AWARD

TITLE

J U LY

SEPTEMBER

OCTOBER

NOVEMBER

· DEAN DAN MOSHAVI MOVES AND

· E XECUTIVE’S CLOSET

· FAMILY BUSINESS DAY

FALL ENTREPRENEUR-IN-RESIDENCE:

· MEET THE ACCOUNTING RECRUITERS

· MEET THE BUSINESS RECRUITERS

SHANNON STOWELL

· GOLF TOURNAMENT

· $25 MILLION JAKE JABS GIFT

· BOARD OF REGENTS APPROVES $1.6

INTERIM DEAN AND ASSOCIATE DEAN POSITIONS ARE FILLED

AUGUST · MASTER OF PROFESSIONAL ACCOUNTANCY WORKSHOP · T WO NEW FACULTY ARRIVE (BRENT ROSSO AND NATE JEPPSON) · ANNE CHRISTENSEN APPOINTED

· FALL ORSER SPEAKER: STU BOHART, FORTRESS INVESTMENT GROUP · SIFE AWARDED ADDITIONAL LOWE’S COMMUNITY IMPROVEMENT CHALLENGE GRANT—ONE OF 25 WINNERS OUT OF 50 · L AUNCHED NEW SUSTAINABLE

AS MEMBER OF THE EDITORIAL

BUSINESS PRACTICES COURSE WITH

BOARD (2011-2012) FOR ISSUES IN

JABS’ FUNDS

ACCOUNTING EDUCATION

ANNOUNCEMENT · ENTREPRENEUR DAY · F RESHMAN RE-ORIENTATION

MILLION FOR DESIGN OF NEW COB BUILDING

DECEMBER · INTELLECTUAL PROPERTY WORKSHOP CO-HOSTED WITH TECHRANCH

10 TITLE

OUTSTANDING Students

2011 Graduating Student Profile

FEMALE/MALE RATIO

OPTIONS Accounting 23% Finance 16% Management 35% Marketing 26%

Female 45% Male 55%

Total students: 246

MINORS Accounting 1% Business Administration 31% Entrepreneurship & Small Business Management 47% International Business 16% Management of Information Technology 5% Total students:

MASTER OF PROFESSIONAL ACCOUNTANCY Female 54% Male 46% Total students: 43

133

16% 45%

31%

5% 16%

35%

23% 55% 26%

47%

54%

46%

12 OUTSTANDING STUDENTS

Second Executive’s Closet A HUGE SUCCESS

STUDENTS NEEDED PRO F E S S I O N A L C LOT H I N G TO WEAR DURING I NTE RV I E WS, R E CR U ITI N G FA I R S O R TO TH E I R F I R S T J O B O R I NTE R N S H I P. LI N DA WA R D

CoB student volunteers

The second Executive’s Closet—held for three days in early September, 2011, in conference rooms in the College of Business (CoB)—equipped 320 students with gently used business clothing and brought them one step closer to becoming successful business professionals. The Executive’s Closet is the inspiration of Linda Ward, Assistant Director of the Bracken Center for Excellence in Undergraduate Business Education in the CoB. Ward oversees CoB student enrichment programs, including study abroad opportunities, scholarships, internships and business exchanges. Ward first identified a student need for professional business attire several years ago. “Students needed professional clothing to wear during interviews, recruiting fairs, or to their first job or internship,” explains Ward. “Most students can’t afford high quality professional clothing, and I knew a number of people with closets full of suits and other business clothing that they were no longer using.” Ward used her extensive network of CoB graduates, with whom she’s developed a strong rapport during her seven and a half years in the college, and her business contacts to solicit donations of gently used, professional business clothing. In addition, she made announcements to local service groups, to the MSU community and to her personal network of contacts and held the first Executive’s Closet in 2009. “It’s really been a very grassroots effort,” explained Ward. “We operate with virtually no budget and lots of volunteer hours. CoB students, faculty and staff helped in many ways. One business student with experience from the GAP designed the layout, while student club members helped to set up and display the

clothing in an attractive, accessible way. The college’s faculty, staff, and students helped participants choose business clothing and accessories to add to their wardrobes.” Racks of clothing—sorted by gender, style, and size—awaited this year’s Executive’s Closet participants. Of the 320 students who attended the event, 184 were CoB students, 116 were engineering majors, and the remainder were from other majors across campus. The majority of participants were men, who left with 62 suits, 63 sports coats, 52 slacks, 26 pairs of shoes, 195 ties, 215 shirts and some socks. “I reached out to the Engineering Department, because of their students’ need for business attire in their profession,” said Ward. “It was really exciting to see students from other colleges working together to make up outfits, help each other tie ties, and laugh at some of the more humorous outfits.” Ward also received support from local businesses, which helped donate displays and other items for the event. The GAP loaned the college several clothing racks, along with one from a faculty member, one donated from Ward, and several built by students. Another student solicited a donation of hangers from Macy’s. Community members and business professionals donated everything from men’s jackets and ties to women’s skirts and shoes. “It was really neat to see the changes in some of the guys after they tried on clothing from the Executive’s Closet,” said Jennifer Brien, a senior in the CoB majoring in management and marketing. “Some came in wearing cowboy boots and jeans, uncertain of their sizes and what items to choose to make an outfit. With some assistance from other female students and encouragement from faculty members, they’d find a suit, try it on, and come out standing a bit taller and looking more confident. It was really fun to be a part of that.” The Executive’s Closet serves as one example of the college’s commitment to help prepare students to become successful business professionals. Dressing the part helps students

build confidence, gives them a better sense of what it means to dress professionally, creates a positive impression during interviews and recruiting events and eases the financial burden of purchasing business clothing at retail prices. It also creates a good feeling for donors, who take pleasure in knowing that their clothing is being put to good use. Students know that the faculty and staff in the CoB really care and are willing to put forth extra effort to organize such an event for them. To donate gently used business clothing to the Executiveâ&#x20AC;&#x2122;s Closet program in the CoB, e-mail Linda Ward at lward@montana.edu.

Students helping each other find matching business outfits

14 OUTSTANDING STUDENTS

CoB Students Inducted Into the BETA GAMMA SIGMA HONOR SOCIETY Eighteen Montana State University (MSU) College of Business (CoB) students and a CoB faculty member were added to the prestigious list of Beta Gamma Sigma (BGS) inductees at the induction luncheon on Tuesday, April 5. BGS, an international honor society started in 1913, provides the highest recognition a business student anywhere in the world can receive in an accredited, Association to Advance Collegiate Schools of Business (AACSB), undergraduate or master’s program.

Beta Gamma Sigma Honor Society

2011 BGS INDUCTEES MASTERS: Jennifer Larson Kale Norwood SENIORS: Kaitlyn Ash Jennifer Brien Aimee Hokanson Lauren Jackson* Jodie Kunesh, Nathan Mooney Jamie Pearce* Ben Scott Katherine Snapp* JUNIORS: Cassandra Carter Samantha Holzwarth Marci Kolar Steven Moodie Samuel Pehl Breana Wolery Molly Zander * in absentia

BGS Advisor, Dr. Susan Dana welcomed attendees to the induction and the BGS officers, Randi Regli, Abbey Schmaltz and Caley Chadwick, began the induction. The officers gave the definition of Beta Gamma Sigma and what it means to be a member of this honor society. The inductees were encouraged to live according to the standards of Beta, meaning honor; Gamma, meaning wisdom; and Sigma, meaning earnestness. The inductees recited the BGS pledge and received their certificates and pins. Afterwards, BGS presented The Beta Gama Sigma Professor of the Year Award to Dr. Bonita Peterson Kramer, CoB professor of accounting. Kramer has been a part of the faculty since 1994, after earning her Ph.D. from Washington State University. Her accounting work experience includes three years as an auditor with KPMG in Texas and the Montana Office of the Legislative Auditor, in addition to several summers as an accountant in Yellowstone National Park, WY and Denali National Park, AK. Dr. Kramer is a Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), and a Certified Management Accountant (CMA). She has taught courses from the sophomore through graduate levels, including courses in auditing, financial accounting, fraud examination, accounting information systems and cost accounting. Over the years, Kramer has won many teaching awards for her dedication to her students.

BGS also recognized Ryan T. Screnar, senior vice-president and audit director for Glacier Bancorp, Inc. Prior to working at Glacier Bancorp, Screnar was an associate accountant at Galusha, Higgins & Galusha in Helena. He is very dedicated to public service to the CoB, serving on the CoB Accounting Advisory Board, as well as to his profession and the community, holding many positions on boards. Screnar received his bachelor’s degree in business administration with an emphasis in accounting from the University of Montana before coming to MSU to earn his Masters in Professional Accountancy. He also attended the Pacific Coast Banking School at the University of Washington and has been a licensed CPA since 2000. Screnar gave the guest presentation, congratulating the students on their achievement of being inducted into BGS. He told how he got to where he is today, describing how he had gone into an interview, thinking he was pitching his company for a consulting job, and instead, ended up getting a job offer. This occurred before the April 15 tax deadline and he told the new company that if he were to work for them, he needed to finish out his old job through that date. He told his company that an opportunity had come up and he was taking a new job, but would work through the April 15th tax deadline. He worked 110% through that deadline and put in the most billable hours for his company to date. Screnar tied his story to the core values of BGS: Honor, Integrity, Earnestness and the Pursuit of Wisdom and then challenged the students to be the leaders in their lives and to always be responsible and give back whether it was through their talents, time or money.

Ryan T. Screnar, keynote speaker

The Main Event Introduces Students TO THE WORLD OF EVENT PLANNING FOUR CoB SENIORS HONORED WITH AWARDS FOR EXCELLENCE The Montana State University (MSU) Alumni Association and the Bozeman Chamber of Commerce recognized the top 40 MSU seniors and their faculty or staff mentors at the 29th annual Awards for Excellence banquet. The awards ceremony took place on Tuesday, February 22 in the Strand Union Building Ballrooms.

Human Resources Management Club members with the panelists

On March 23, the College of Business’ (CoB) Human Resources Management Club (HRMC) hosted The Main Event, a panel session with four expert event organizers. HRMC put on this event due to an increased interest in this particular subject.

Each of the panelists gave the audience great advice. “It’s one of the most unforgiving industries out there,” Chamberlin warned. Staley agreed, “It is hard work. Be willing to get your hands dirty. You can’t stop half way. You must follow through.”

Panelists included Tate Chamberlin, founder of Chamberlin Productions; JoAnn Brekhus, executive director of the Sweet Pea Festival; Ellie Staley, program director for the Downtown Bozeman Partnership and Stephen Michael, founder of SRO Live.

Brekhus emphasized relationships with people. “Make a plan and make it work. Network!” she offered, adding, “It’s about mentorship! Who’s got what you want?” Michaels agreed, adding, “Surround yourself with key people.” He also talked about believing in yourself and your events, saying, “Learn every part of the business and then make sure you follow the 5 foot rule. Make sure you tell everyone within 5 feet of you what you are doing. Tell people and be excited!”

The panelists began by introducing themselves and talked about how they got into the event management business before jumping into a Q & A session. One person asked how funding for projects worked for each of their businesses. Another person wanted to know how they could get into event management. Others wanted to know the best and worst things about being in event planning. The session was interactive and the panelists also directed questions back at the audience. Brekhus asked how many people in the audience had been to the Sweet Pea Festival and then followed up with how many people had volunteered at the Sweet Pea Festival. She then talked about how volunteering with a group or organization is a great way to “get your foot in the door” and start managing a portion of the event, and then work your way up to becoming the overall event organizer.

Avram Pitter, a member of the HRMC, learned a lot from the panelists. “I learned that great communication, exceptional resource management, and excellent planning are essential to events management.” The HRMC students learned about the benefits and challenges of event planning, as well as took away advice from the Main Event panelists. Throughout the semester, many of the CoB’s student business clubs host guest speakers, who bring their expertise into the classroom. This face-to-face contact with industry professionals allows students to ask tough questions and learn from experts.

Student winners were nominated by faculty in their college or department and chosen by an award selection committee. Honorees maintained a minimum 3.5 grade point average on a 4.0 scale and demonstrated campus leadership and community service. The CoB students and their mentors who were honored at the banquet were: • Meghan Doyle, business marketing/management and psychology; Mike Gold • Aimee Hokanson, business finance; Steve Ault • James McGuiness, business management; Gary Bishop • Sophie Mumford, business accounting and economics; Bonita Peterson Kramer

Left-Right: (back) James McGuiness, Gary Bishop, Bonita Peterson Kramer and Sophie Mumford; (front) Mike Gold, Meghan Doyle, Aimee Hokanson, Steve Ault and Dan Moshavi.

16 OUTSTANDING STUDENTS

Sixteen College of Business Students GET A TASTE OF WALL STREET There’s no better place to experience the finance industry than New York—Wall Street to be exact. A group of 16 Montana State University (MSU) College of Business (CoB) students traveled to New York City where they were able to meet with some extraordinary business leaders and visit iconic financial institutions. CoB students began their trip with a visit to the New York Stock Exchange (NYSE) where they were given a personal tour on the floor of the exchange. This was followed by a tour of NASDAQ and Standard & Poor’s (S&P), one of the top two credit rating companies in the world. While at S&P, students and faculty were able to speak with one of their analysts who also talked about MSU’s credit ratings. They also talked to the founder of one of the largest hedge funds, Wes Edens, of Fortress Investment Group, who is a Montana native and had attended MSU his freshman year of college.

IT WA S TR U LY A REMARK ABLE E X PE R I E N C E . HA LE Y RE U TIM A N N

CoB students after their tour of NASDAQ.

to meet with the director of North American Markets, Suni Harford, who also has family roots in Montana. The group took in some cultural and historic sites when they weren’t visiting financial institutions. They spent time at Ground Zero and Central Park. Students also took advantage of the live music scene by listening to blues and jazz at local clubs. They even took in a cabaret show while there. The trip provided significant opportunities for the students to listen to and interact with leaders in different fields on Wall Street. They were also able to see whether or not working in this environment would be a good fit for their own professional aspirations. It was more than just an eye-opening experience. The Montana connections they found demonstrated that with hard work, Montanans can be successful at the highest levels of the profession.

At the New York Federal Reserve, which imple- Haley Reutimann, one of the students on the trip, was thrilled with the opportunity to go to ments monetary policy for the United States, New York. students listened to a lecture by one of the professionals, John McGowan, who is directly “It was truly a remarkable experience. Our involved in this process. group had the opportunity to experience things many others do not get the chance to do. The MSU alumnus, Cory Pulfrey, hosted the group connections we made, as well as the individuals at Morgan Stanley, which is one of the oldest, we had the opportunity to meet were incredibly most respected and largest investment banks intelligent financial professionals who were able in the world. Lastly, at Citigroup, a very wellto give us insight into the top tier of finance known international bank, everyone was able

Right: Snapshots of CoB students in New York City

professions. Not only did we have the opportunity to network, but the financial institutions we visited were among the most renowned, as they not only apply to finance. It is inspiring to experience New York from this perspective, and I think we can all be grateful for the amount of time and effort our professors put into planning this trip and making our experience so remarkable,” Reutimann said. While there, several students applied for jobs and internships with the companies they visited. The process of making a connection, and then using that connection in assisting with the application, was educational. This opportunity was first made possible two years ago by Gary Caton, the Finance Club faculty advisor. He has spent a considerable amount of time putting together this trip each year. The quality of this trip resulted from these efforts through the connections that he made on previous trips, and new connections that he made for this trip. Caton said that the faculty who went on this year’s trip also found it to be a great networking and educational opportunity and experience. “We made contact with potential employers of our students, and learned along with the

students what some of the highly innovative finance companies are doing.” When asked about any lasting impressions, Caton answered, “When our well-dressed, attentive and curious students visit these institutions, they make positive impressions in the minds of high-level finance professionals, of the college, the university and the state. For example, the day we visited Citigroup, a group of students from Harvard was also visiting. While the Citigroup people will certainly never mistake the two, on that day MSU and Harvard were intertwined in the minds of the HR professionals who put our visit together and the speakers who talked to both groups.” Through dedicated faculty efforts, opportunities like this trip are offered to CoB students. Students witnessed the financial institutions at work, met with professionals in the field and asked them questions, as well as absorbed as much information about the industry as possible. With this experience, students saw how what they’ve learned in the classroom is applicable to careers in finance, and their exposure to leaders in the industry may give them that needed edge if they apply for jobs with companies they visited on this trip.

18 OUTSTANDING STUDENTS

MSU Students Take Second Place at REGIONAL ADVERTISING COMPETITION

MKTG 489/490: Advertising class

SPECIAL THANKS TO OUR SPONSORS LEAD CONTRIBUTORS Flying Horse Communication Jim & Connie Alderson MercuryCSC MSU School of Art O’Berry Collaborative SUPPORTERS Insty Prints MSU Office of Student Activities

A unique class, MKTG 489/490, com“Design in school is pretty exclusive, 95% of the prised of 12 senior-level marketing and time you are working by yourself, being led by graphic design students placed 2nd in their your personal aesthetics. Working as a team, it district at the National Student Advertisis powerful how much everyone can do if you’re ing Competition (NSAC) in Boise, Idaho. focused on the same goal. Marketing students The team also won the award for “best want to provide the best business plan backed in-store customer experience” and Meghan by solid information, and design students want Doyle, a senior in marketing, won the to create a consistent and appropriate design. award for “best female presenter” in the We all have different skills to bring to the table competition. The NSAC has become the and when everyone is focused on the same proving ground for more than 80,000 goal you can really do great things. As a design students, many of whom are hired by top student we’re not really exposed to the business/ advertising agencies. research side of things much, we basically just want to make things look good. But working The team was advised by Mike Gold, Colon a campaign with the marketing students relege of Business (CoB) adjunct professor, ally gave our designs purpose and focus. Instead former president of Saatchi & Saatchi’s of thinking, ‘Does this look good to me?’ We’re San Francisco branch—one of the largest thinking, ‘Is this appropriate for our target marand most prestigious advertising firms in ket?’” said Meccage. the world. After an entire year of research, team work and “This year’s class had an excellent combination practice for the competition, the students were of strong design and marketing students, who thrilled with the outcome. “We placed 2nd in worked well together to produce a strategically Boise, which is the best MSU has ever done, sound and creatively exciting campaign. It is and we’re all really proud of it. We all learned a a great credit to this group of students to have lot and couldn’t have done it without our fearcompeted with and beaten schools of the caliber less leader, Mike Gold, pushing us to think on of University of Oregon, Portland State, Boise the next level, to not be satisfied with a medioState and Washington State,” Gold said. cre idea, and being accountable to one another. An amazing class, I’d do it all over again if I Business and graphic design students alike could. I guess that’s what the ‘real world’ is for, learned a lot from the class and gained some right?” Meccage added. unique experiences. Meghan Doyle, a senior business student highly recommends the class. A different corporate sponsor provides a chal“It was the most realistic and exciting class I took in my college career. I loved that the class was made up of both marketing and graphic design students because it allowed us to collaborate the way we would in a real business setting. It was refreshing to have a focused project that you could really delve into and create a solid piece of work in the end. The added bonus of competing at the NSAC and taking second place definitely showed that MSU can make its mark. I know that the class will help me in my future and it’s one I would highly recommend,” Doyle said. Mary Meccage, a senior graphic design student said that she also learned a lot from this course—most importantly the team aspect of the class.

lenging, real-life issue or case study related to a specific company product or service each year. This year the sponsor was JCPenny. Students research the product, the competition, identify potential problem areas, and provide solutions which are packaged into a completely integrated marketing campaign for the client during this year-long marketing class, offered through the CoB.

Students who participated in the class included Keegan Bowen*, Whitney Connolly*, Meghan Doyle, Jordan Jarosky, Jolene Karls, Mary Meccage*, Elise Nelsen, Tyler Noland, Khari Otto*, Gabrielle Pfeifer, Kelly Schroeder and Michael Spencer*. *denotes graphic design

Students and Faculty Honored BY COLLEGE OF BUSINESS Every year, the College of Business (CoB) recognizes students and faculty in the spring for their accomplishments throughout the year. Four students, one in each option, were awarded the Dean’s Award for Excellence, as chosen by the faculty. · Accounting Option: Loretta Hemingway · Finance Option: Xiachen Zhao · Management Option: Sonja Jennings · Marketing Option: Meghan Doyle The Dean’s Award for Excellence was also give to graduate student, Amanda Manuel, in the Master of Professional Accountancy Program (MPAc). Four additional special awards were also presented to CoB students. · Alfred L. Day Academic Excellence Award: Meghan Doyle · Montana Society of CPAs Medallion Award: Kyle Blessinger · Bracken Professionalism Award: Arnold Kleinsasser · Harrington’s Bottling Company Student Mentorship Award in Honor of Bob Arrotta: Katherine Snapp Six professors received honors during the ceremony, based on outstanding performances in teaching, research and service. The awards, provided through endowment programs, give faculty members financial resources for scholarly and pedagogical development. Mike Gold, adjunct instructor of marketing, was the recipient of the Thomas Nopper Excellence in Teaching Award. This award is

given annually to a faculty member who has made significant contributions to the teaching mission of the CoB and is bestowed at the discretion of the dean. This year’s recipient for the Joe and Sharlene Loendorf Excellence in Teaching Award was Mike Kroff, assistant professor of marketing. This award is also bestowed at the discretion of the dean. CoB colleagues selected the following faculty members for special performance recognition awards: · Dean’s Award for Outstanding Performance in Teaching: Steve Ault, adjunct instructor of accounting · Dean’s Award for Outstanding Performance in Research: Angela Woodland, assistant professor of accounting · Dean’s Award for Outstanding Performance in Service: Anne Christensen, professor of accounting Susan Dana, associate dean, was voted by her peers to receive the 2011 Code of Excellence Award. This award recognizes the recipient’s commitment and positive effect on the lives of all members of the CoB community. The CoB senior students voted on the most prestigious faculty award. They selected Bill Brown, professor of management, as the recipient of the Student’s Choice for Excellence in Teaching. During the celebration, two of his students, Dylan Whitcraft and Chelsey Wilson were able to honor Brown on behalf of all the seniors.

MSU TEAM TAKES 2ND PLACE IN GLOBAL RESEARCH CHALLENGE COMPETITION On Friday, March 4, three College of Business (CoB) students: Tyson Johnson, Andrew Kaiser and Kristian Miller, traveled to Spokane to compete in the CFA Society of Spokane Investment Research Challenge. This is the first year that Montana State University (MSU) has been represented at this competition. The team of students placed 2nd out of five university teams. Washington State University (WSU) edged out the MSU team in the final standings but the other teams were made up mainly, if not all of MBA students. Other participating schools were Gonzaga, Eastern Washington University and Whitworth. The team, coached by Peter Rubicam, adjunct instructor of finance, and Eric Flynn, alumnus with Bitterroot Capital Advisors, LLC, spent four weeks preparing an analysis of one company for the competition. They were judged on a written paper and presentation. Eric Flynn said that the students represented MSU with poise and a high level of knowledge. “I know they will be right back at the top in next year’s challenge!” Rubicam agreed, “Our team did a fantastic job on their presentation, and deftly handled a challenging Q&A session with the judges.”

Award winners: (L-R) Meghan Doyle, Sonja Jennings, Xiachen Zhao and Loretta Hemingway

The MSU SIFE Club Competes and Excels at ATLANTA REGIONAL COMPETITION SIFE Club in Atlanta, GA

The Montana State University (MSU) Students in Free Enterprise (SIFE) Club has had a record year of projects and recently competed in the Atlanta Regional Competition, earning first runner up in their league.

ABOUT SIFE SIFE, an international nonprofit organization, works with leaders in business and higher education to mobilize university students to make a difference in their communities while developing the skills to become socially responsible business leaders. Participating students form teams on their university campuses and apply business concepts to develop outreach projects that improve the quality of life and standard of living for people in need. An annual series of regional and national competitions provides a forum for teams to present the results of their projects, and to be evaluated by business leaders serving as judges. National champion teams advance to the prestigious SIFE World Cup. In addition to the community aspect of the program, SIFE’s leadership and career initiatives create meaningful opportunities for learning and exchange among the participants as well as the placement of students and alumni with companies in search of emerging talent.

Each year the MSU SIFE Club works hard to put on events that focus on each of SIFE’s categories (market economics, success skills, entrepreneurship, financial literacy, environmental sustainability and business ethics) in order to qualify for the regional competition. The team is then judged on their presentation of these events and how successfully the teams developed and executed a strategy to ensure the long-term sustainability of their team and educational programs. This year, the SIFE Club focused in on sustainability within the community. The students put on three large scale outreach projects to help increase economic growth in Bozeman and worked with Big Sky Skydiving, the local Economic Development Council, and Family Promise. Each of the groups that SIFE worked with had varying needs. Students worked with Big Sky Skydiving, a start-up skydiving company, on a marketing strategy. In just three months, there was an estimated an increase in revenue of 250%. SIFE then took part in organizing Bozeman’s very first economic summit, with renowned author Dan Ripke as their guest speaker. He brought the concept of economic gardening, an entrepreneurial alternative to the traditional economic development practice of recruiting industries, into Bozeman. A round table discussion with Bozeman business owners followed Ripke’s talk. The SIFE team helped draft and analyze the discussion questions for this event.

Participating in Lowe’s Community Improvement Challenge, the SIFE Club received a grant that allowed them to purchase new carpet and energy efficient appliances for Family Promise. Family Promise of Gallatin Valley is a nonprofit organization that helps local homeless families with children. This local organization is based on the national Family Promise structure and is over 80% successful in getting families into stable housing and effective employment. The SIFE students spent time volunteering for Family Promise as meal hosts and helped plan life skills workshops. These workshops give families the skills needed to get back into the workforce. After completing these major projects and keeping up on seven on-going club projects, the SIFE team entered the Atlanta Regional Competition in April. The team consisted of eight members from the club: Elliot Rueb, Jamie Pearce, Skyler Hager, Zach Curtis, Justin Zarcor, Allison Hunthausen, Katherine Snapp and Kaley Bjornsen. Gary Bishop, adjunct instructor of management and the SIFE Club advisor, also attended the competition and was a valuable asset to the team. The club reported their accomplishments for this year in a 24 minute presentation to a panel of 15 judges and a conference room full of spectators. The MSU SIFE team was the first runner-up in their league, competing against larger schools including Kentucky State University (Frankfort, KY), D’Youville College (Buffalo, NY) and the University of Georgia (Athens, GA). This is the highest ranking MSU has earned at a regional competition since the club was started. Overall, 62 teams from across the U.S. participated at this regional competition. The team was very excited to bring home a trophy and increase awareness for the MSU SIFE Club. Elliot Rueb, president of the MSU SIFE Club was thrilled with the competition results. “This year’s SIFE club has been exceptional. Without all the effort put forth by all of its members, we would not have been this successful. We grew from five members in the club to 25 throughout the course of a semester. With this growth, we were able to compete with large schools like

OUTSTANDING STUDENTS

the University of Georgia and Auburn. It was a very rewarding experience and I couldn’t be more proud to finally bring home a trophy to show off after being with MSU SIFE for three years. We can only grow from here and hopefully improve again next year and make it to the world cup.” Gary Bishop was also very pleased with the outcome. “This was a hard working student team, whose focus was doing the very best they could. These eight students were all

totally dedicated to making as good a showing as possible in faraway Atlanta, Georgia, for Montana State University. I was very proud of their achievement, bringing back to the school a trophy for ‘First Runner-up’ in their league. They truly deserved it!” This opportunity was made possible to the SIFE club by the CoB alumni, Jim and Connie Alderson; and the Associated Students of Montana State University (ASMSU).

MSU Alumna Shares Lessons Learned WITH SCHOLARSHIP RECIPIENTS At the 2011 Scholarship Banquet, the College of Business (CoB) gave more than 120 scholarships and awards for students majoring in business options for the 2011-2012 academic year—one of the highest numbers ever. The scholarships, announced Monday, April 18 at the banquet, were provided through endowments and funds set up to specifically grant financial aid to students enrolled in the CoB. Around 267 people, including family and friends, attended the event. Linda Reynolds, a 1971 Montana State University (MSU) graduate, was the keynote speaker for the event. She talked about seven life lessons learned that she wished to pass on to the scholarship and award recipients. These lessons were: • N o matter what you are doing, do your best. Make it a challenge to excel. • L ook for the opportunity to make a positive impact. • Skills and knowledge are transferrable. • I f you don’t know what you really want to do, then “What” is not the issue. Just pick an industry with lots of room for advancement. • Th ere is no such thing as failure: You either get what you want or you get more information.

• F ind the type of work that challenges you. In other words, “Choose work that forces you to grow—to use more of yourself.” • Y ou can leverage the use of your time and talents by a third T: Treasure. Save some money along the way. Reynolds delved more into the importance of “Time, Talent and Treasure” and how various people have donated their “treasure” to allow the student recipients to leverage their time and their talent while at MSU. As a scholarship recipient herself, she encouraged everyone to think about how they can apply their time, talents and treasure to make an impact on others. “Invest your treasure to give someone else the opportunity to succeed, like you were given. You can have an impact, change a life and maybe change the world. And you may find that one of the biggest impacts is the joy you feel by helping someone else!” If you would like more information about CoB scholarships, please contact Halina Rickman at hrickman@montana.edu or 406-994-4423. Scholarship recipients

Linda Reynolds, Scholarship Banquet keynote speaker.

Linda Reynolds

22 OUTSTANDING STUDENTS

Beta Alpha Psi Student Team Takes SECOND PLACE AT REGIONAL CONFERENCE Shaw, one of the accounting students on the team, believes the accounting program prepared them well for the problem presented. “Since our presentation topic was on the implementation of an educational resource for the implementation of U.S. Generally Accepted Accounting Principles to International Financial Reporting Standards, the accounting program prepared us for our presentation because it is emphasized to us that reporting standards will change in the near future and is one of the most important issues in the accounting industry today.” Jensen agreed. “This is an important topic for today’s business professionals in order to keep up with a globalized economy and in order to comply with legal and regulatory standards in future years.”

Beta Alpha Psi student team, (left-right): Garret Shaw, Daniel Jensen, Jodie Kunesh and Anna Adolphson

The Beta Alpha Psi (BAP) team, comprised of four Montana State University (MSU) College of Business (CoB) students: Anna Adolphson, Daniel Jensen, Jodie Kunesh and Garret Shaw, traveled to Salt Lake City on March 26 for the annual BAP Regional Conference. They participated in the Best Practices Competition and chose the topic of “Innovate: The Accountant’s Role in a Changing Business Environment.” The following is the challenge as presented to the students for the competition topic: To encourage chapters to identify and explore innovative ideas. One of the many “lessons learned” from the recent downturn in the economy is that going back to the way things used to be done is not going to be the “norm” anymore. For example, the transportation industry is being charged with creating new engineering methods to make travel more efficient (high speed rail, more eco-friendly cars, etc.). Businesses are relying more on social media and other technological advances such as teleconferencing to conduct business to reduce travel costs or increase time utilization. The landscape is also changing in professional service firms as they face the challenge of how to successfully integrate the new generation of professionals. What role can accounting and BAP play in the changes?

Shaw believes that this experience was very valuable and the students were able to take away a lot from the trip. “I enjoyed the opportunity to meet students from other universities and seeing the different styles of leadership each chapter had and believe the regional conference is a great opportunity for incoming officers to gain enthusiasm and understanding of their roles for the upcoming year. The competition added value to our professionalism because we prepared to present to professionals in the accounting industry and it was another opportunity get more comfortable with public speaking.” With the contributions of the Alderson family going towards students participating in these competitions, the CoB students have been able to compete against other universities which provide experience and a confidence about their business education and knowledge here at MSU.

MSU Leads in the D.A. Davidson INVESTMENT CLASS IN NET GAINS Every year, some Montana State University (MSU) College of Business (CoB) students participate in BFIN 409, Introduction to Applied Investing, a semester long course started by D.A. Davidson, which allows them to invest in reallife. The Student Investment Program was first created by Ian Davidson at MSU 25 years ago. The program provides teams of students at participating schools with $50,000 each to invest over the year. The school teams get a chance to share in any profits, and D.A. Davidson absorbs any losses. Each team makes investment decisions alongside a local D.A. Davidson financial consultant, who acts as a team adviser. The work of students at the 20 schools, over 25 years, has collectively resulted in a net gain of $310,000, Ian Davidson told the fall 2010 Orser Executive Speakers Forum audience. An incentive program was started 10 years after the program began, where profits were shared with the students’ schools. Since then, more than $375,000 has been paid to the 20 schools, including $19,900 paid to the CoB. November 30, 2011 marked the end of the first school-year quarter that began on September 1. So far this year, the aggregate performance of all program participants is a year-to-date decline in value of 1.53%. For the same three-month period, the major U.S. equity indexes experienced gains

BFIN 409: Introduction to Applied Investing, photo by Kelly Gorham

of between 1.58% (NASDAQ) to 3.72% (Dow). November was a particularly difficult month for the program’s portfolios, with 15 out of 20 experiencing value declines from the previous month. It’s clear that the students in the program are acquiring an up-close look at how global economic uncertainty and market volatility can impact investor confidence and investment performance. The CoB students, after one quarter, were able to exceed expectations and currently lead the pack of 20 different universities including Eastern Washington State University, Washington State University (WSU), Gonzaga University, Boise State University, University of Montana, University of Utah and others. The students have achieved an impressive 4.92% gain, handily beating the Dow. WSU is the only other school who also outperformed the Dow, and only seven schools are showing net value gains. Of course, one quarter does not make an investor or investment, but we are pleased with the current results and applaud the hard work our CoB students have put forth in this course. For more information about this course, please contact, Ron Matelich at rmatelich@dadco.com.

Photo by Kelly Gorham

FACULTY & Programs

INTERNSHIPS: Sponsoring Firms

ALC Inc. Anderson ZurMuehlen Austin Bridge & Road Bank of Bozeman Big Brothers Big Sisters Big Sky Resort Bobcat Sports Properties Bozeman Public Library Broad Comedy Conveyabull Department Of Energy—HR Downtown Bozeman Partnership Eagle Mount Bozeman Easter Seals Enterprise Rent-A-Car Fastenal Flooring Place Gallatin County Fairgrounds Galusha, Higgins & Galusha, PC Hamilton, Misfeldt & Company, P.C. Hastings Headwaters Economics Heritage Propane Human Resources Development Council (HRDC) Icing on the Cake Events

Jackson Hewitt Jahner Chiropractic Kiewit KPMG Lockheed Luna Properties Markus Promotions Merrill Lynch Montana Lottery Moonlight Basin Moss Adams, LLP MSU Athletics Department MSU Business Office MSU Department of Internal Audit MSU Disability, Re-entry & Veteran Services MSU Division of Graduate Education MSU Internal Audit MSU PBS KUSM MSU Student Activities Montana Department of Transportation Murdochs Museum of the Rockies Nature Valley Granola Navsea Northern Plains Agricultural Research Lab USDA-ARS

Northwestern Mutual Outside Magazine Outside Media Group PricewaterhouseCoopers Profitable Ideas Proxima Marketing Quantel USA Rainbow Ranch Lodge RightNow Technologies Schnees Seattle Mariners MLB Organization Senator Jon Tester’s Office Starzen International Co., Ltd. The Flooring Place The Old Roofer and Sons The Wellness Community Trade Risk Guaranty U.S. Senate Finance Committee US Bank USDA USDA Farm Service Agency Vertical Media Voice Wayfare Foods Wells Fargo Financial

26 FACULTY AND PROGRAMS

Professional Coaching Clinic PROVES BENEFICIAL TO STUDENT SUCCESS

PROFESSIONAL COACHING CLINIC COACHES SPRING 2011 Anna Hernandez Linda Hughes, coordinator Stephen Schultz FALL 2011 Anna Hernandez, coordinator Abby Schlatter Stephen Schultz

In its second semester as a pilot program, the successful business person interacts in business Professional Coaching Clinic (PCC) in the situations. College of Business (CoB) matches 12 students “Stephen gave me really great feedback, demonwith a personal coach who has significant exstrated effective communication skills and properience working and coaching in professional fessionalism and modeled honesty and integrity business environments. Each student enrolled while providing me with constructive criticism,” in the PCC meets with his/her coach throughexplained Lundvall. “This experience helped out the semester to receive guidance and prepare me to successfully transition between feedback on his/her professional development, gain insights into his/her potential career path, my academic experience and the real world of business.” and obtain assistance in creating a professional portfolio designed to prepare him/her to seek According to Anna Hernandez, PCC coordinajob and internship opportunities. tor and Job Analyst Consultant, students in this program have numerous opportunities to One CoB student, who participated in the practice professional communication, from a PCC in spring 2011, was Shilo Lundvall, a one-on-one setting with their coach to networkmanagement and finance major. ing events with business leaders. In addition, students identify their strengths and weaknesses, competencies, and interests and examine their personal and professional aspirations as a way to develop a professional advantage. “Through programs like the Professional Coaching Clinic, we strive to help students understand themselves as people and professionals,” said Susan Dana, interim dean for the CoB. “Helping students understand their strengths and weaknesses, identify their goals and ambitions, and develop the self-confidence and self-knowledge necessary to succeed as business professionals reflects a focused effort on the part of every faculty and staff member in the College of Business.”

Professional Coaching Clinic

“The Professional Coaching Clinic was extremely helpful in building my confidence in the area of public speaking,” said Lundvall. “Through this course, I wanted to practice networking and to learn how to interact and communicate effectively in real business situations, and my coach gave me numerous opportunities in these areas.” Lundvall met with Stephen Schultz, Director of Global Alliances at RightNow Technologies, once a week for 15 weeks throughout the semester and received valuable feedback about ways to improve his communication style, as well as strong modeling from Schultz on how a

Students also complete a series of self-assessment and self-reflection exercises that help them think critically about the tangible assets they bring to a business environment. Students use these findings to develop a professional portfolio that includes a résumé, cover letter template, interview preparation exercises, and a list of additional resources. All of this preparation was designed to help students prepare for and take advantage of on-campus events, such as Meet the Recruiters and the fall career fair, as well as internship and job opportunities. The preparation Lundvall received while enrolled in the PCC really paid off. He applied for an internship with Arch Coal, the second largest coal producer in the United States and

was awarded the internship. He spent the summer working for Arch Coal in their St. Louis, MO office. “During my internship with Arch Coal, I gave a presentation to 54 executives, each of whom makes a solid six figures a year,” said Lundvall. “In the past, that would have totally intimidated me, but thanks to the experience and confidence I gained working with Stephen through the Professional Coaching Clinic, I was able to successfully speak to this group of people.” The professionalism and strong performance Lundvall exhibited during his internship with Arch Coal led to a much bigger opportunity. When Lundvall graduates from the CoB in May 2012, he will settle in Singapore, where he has been offered a position with Arch Coal in their energy sector in the Asian market. “We are all thrilled for Shilo and the wonderful results he received from his successful internship with Arch Coal,” said Hernandez. “Our goal with the PCC is to help students realize their full potential by providing them the one-on-one support they need to challenge themselves and explore far-reaching opportunities.” Students interested in applying for admittance to the PCC can find the application and information on the PCC webpage at www.montana.edu/cob/ bracken/pcc.html. To speak with Anna Hernandez, the PCC Coordinator, stop by her office at 313 Reid Hall, call her at 994-2083, or e-mail her at anna.hernandez@montana.edu.

Professional Coaching Clinic breakout session with professional guests

28 FACULTY AND PROGRAMS

MPAc Professional Workshop RESONATES WITH STUDENTS College of Business (CoB) faculty in the Master of Professional Accountancy (MPAc) program and the MSU Accounting Advisory Council held the first MPAc Professionalism Workshop for 39 MPAc graduate students during the second week of the fall 2011 semester. This daylong workshop, held at MSU, was designed to help students better understand the business of accounting and to identify ways to further develop their interpersonal and business social skills. “We really wanted to create an opportunity for our Accounting Advisory Council members to interact with MPAc students, to share

MPAc Professional Workshop

their knowledge and experience, and to give students the opportunity to ask questions and participate in conversations with high-level accounting professionals,” said Christie Johnson, accounting professor, Accounting Advisory Council executive secretary and workshop organizer. “This workshop evolved from many discussions between MPAc faculty and Council members that identified ways the Council might have a meaningful impact on students.” The workshop’s morning sessions included an Advisory Council panel discussion focused on

helping students understand the profession of accounting. The panel stressed the most important points students should know about how junior-level accountants add value to their companies, beyond their excellent technical skills. The discussion highlighted the types of communication and social skills needed to help ensure success and avoid common shortcomings during their first two years of work. “I really enjoyed the entire workshop, but the panel discussion was my favorite part,” said Samantha Mahlen, a graduate student in the MPAc program. “It was really great to ask questions of the panel, such as ‘What do you look for in a new hire?’ and ‘What do you expect from a junior associate?’ and to receive such candid, thoughtful answers from accomplished accounting professionals.” Additional workshop session topics included how to lead with emotional intelligence; how to present oneself in an interview, which included a mock interview between a Council member and a faculty member; and information on CoB programs and events including the Executive’s Closet and fall recruiting opportunities. Students then signed up to participate in mock interviews or student résumé reviews to close out the workshop’s offerings. “Participating in this conference was very meaningful to me,” said Scott Holton, CPA and partner with Rudd & Company. “Our greatest asset to offer this group of students, as Advisory Council members, was in helping them realize what it’s really going to be like out there in the business world and help prepare them to succeed.”

During lunch, students were reseated at assigned tables, where they participated in conversations with council members about professional issues and topics of current interest. The mealtime conversations gave council members the opportunity to model effective communication skills and helped students identify strategies to improve their ability to carry on effective conversations in small group settings. “We all find ourselves in situations where there’s a lull in the conversation, when there’s an awkward pause,” said Holton. “I have developed a canned set of questions that I have ready to ask someone when these situations arise, to help fill the gap and get the conversation going again, and I encourage students to do the same. A little bit of preparation can go a long way towards ensuring a smooth flow of conversation.”

Woodland. “Students asked questions about posture, tone of voice, the content of responses, clothing choices—so many things that involved both body language and presenting oneself in a professional manner.” All of these components that went into the MPAc Professionalism Workshop—from the panel discussion and mock interviews to the mealtime seating assignments—were selected by workshop organizers with a clear purpose and intent that reflects a strong commitment to student success. This workshop is one example of how the CoB is focused on helping students further develop their interpersonal communication skills, improve their professionalism, identify areas they need to improve, and practice interacting with business professionals in a business environment.

I RECOGNIZE AND APPRECIATE HOW MUCH WORK WENT INTO MAKING THIS WORKSHOP A MEANINGFUL EXPERIENCE FOR ALL OF US. S AM ANTHA MAHL EN

In the afternoon, students watched Holton and “I think the MPAc program is awesome,” accounting professor Angela Woodland partici- said Samantha Mahlen. “The CoB provides pate in a mock interview as a way to begin a students with a smaller, accessible atmosphere discussion, moderated by accounting professor within a bigger academic setting. All the proMarc Giullian, about how students should fessors in the College have been really helpful present themselves in an interview situation. in making sure we, as students, get what we Business students often hold internships prior need to succeed. I recognize and appreciate to full-time employment, and strong interview- how much work went into making this working skills can make the difference in landing shop a meaningful experience for all of us.” that coveted full-time career position. “The mock interview gave students a visual aid that helped begin the discussion,” explained

ACCOUNTING PROFESSOR APPOINTED TO THE EDITORIAL BOARD OF ISSUES IN ACCOUNTING EDUCATION Issues in Accounting Education announces the appointment of Anne L. Christensen, College of Business accounting professor, as a member of the Editorial Board (2011-2012). Issues in Accounting Education is one of the three primary publications of the American Accounting Association. The mission of the journal is to publish research, commentaries, instructional resources and book reviews that assist accounting faculty in teaching and address important issues in accounting education.

30 FACULTY AND PROGRAMS

Shannon Stowell, Entrepreneur-in-Residence: HOW ADVENTURE TRAVEL SAVES THE WORLD The College of Business hosted Shannon Stowell, president of the Adventure Travel Trade Association (ATTA), as the fall Entrepreneur-in-Residence, November 28-December 2, 2011. Stowell visited business classes throughout the week and on Wednesday, November 30, he presented “Adventure Travel Saves the World” in Reid 201 at 5:00 p.m. He began his presentation with a quick introduction on his background, his path to his current position and why he believes “Adventure Travel will save the world.”

Shannon Stowell

Stowell began his career as a researcher in a laboratory after earning a degree in biology, but soon learned that was not where his passion lies. He then started Altrec.com with a partner, a business that specializes in outdoor gear, where he learned many important lessons about running a business, from writing business plans to funding. At a business conference, he heard a speaker say, “The worst thing to have is money because you throw money at problems instead of solving them.” He took this to heart and applied it to his own business. Altrec.com thrived, but Stowell found this work still wasn’t his passion. Instead, he stumbled upon an opportunity with the Adventure Travel Trade Association (ATTA), a struggling organization that combined his interests and passion. When he first became involved with the ATTA, it could only be described as a “shell.” When ATTA members were first contacted, they either didn’t know about the ATTA, didn’t know they were members of the ATTA or were very angry at the ATTA. Stowell believed this problem provided an opportunity because the organization “seemed broken, but could be fixed.” Stowell put everything into rebuilding the ATTA with hopes that the revamped Adventure Travel World

Summit would jump start the organization. If the summit failed, Stowell said he would have lost his house. The summit was a huge success and Stowell, with his leadership team have taken ATTA to more than 750 members in over 70 countries. So what is adventure travel and what is the ATTA? To give the audience a better understanding of adventure travel, Stowell explained adventure travel needs three components: physical activity, some interaction with the environment and a cultural exchange. The top activity, as listed by ATTA members, is hiking/walking at 81%, followed by cultural activities making up another 68%. “You don’t have to have Advil as a sponsor to be considered adventure travel,” Stowell joked. The ATTA is a privately held, for-profit industry trade group that serves to network, educate, professionalize and promote the adventure travel industry. They are a global membership organization and home to a thriving community of more than 700 responsible, profitable businesses, destinations and media who transform customers and businesses alike into advocates for sustainability and justice worldwide. These people are tour operators, destination marketing organizations, tourism boards, specialty travel agents, guides, accommodations, media and service providers. The ATTA describe themselves as “a catalyst, a hub, a refuge and a facilitator.” It is Stowell’s belief in adventure travel that has boosted the ATTA to where it is today. “Adventure travel transforms people,” he told the audience. He sees people having a “transformative moment” when they go on the trips because the trips bridge the gap between the consumer and the problem [loss of environment and culture]. One example of “adventure travel saving the world” had to do with a partner, Rivers Fiji. The company has been leading rafting tours down rivers in Fiji and heard rumors that the native villages lining the banks were thinking about selling their land to a logging company.

This caused a great deal of concern. With a logging company chopping down all the trees lining the river, major erosion would certainly occur and the influx in money for certain native people would create a major economic imbalance for others. Rivers Fiji employs a large number of local villagers as guides, who would most likely lose their jobs. Rivers Fiji, a major supporter of adventure travel, sustainable business and conservation, stepped in to see if they could work out a win-win-win situation. They was able to help the villagers and the local government see that this endeavor would ultimately harm the environment and local culture if it were to proceed as planned. A new business model was put into place with the help of several landowning groups, the logging company and the Native Land Trust Board (NLTB). The area was then established as a 17 kilometer conservation corridor that will not be threatened from future logging or gravel extraction, maintaining the pristine nature of the canyon and natural capital for the indigenous landowning groups that border the area. In exchange, Rivers Fiji compensates the NLTB and landowners through lease payments, user fees and employment opportunities, which will ultimately lead to formal protection of the land. Stowell truly believes that adventure travel is one way to help save the world. He and the leadership team at ATTA are constantly working to ensure the sustainable development of the adventure tourism industry with their sights set on what is good for the people, planet and profit. It is clear that Stowell is passionate about what he does when he talks about his experiences through the ATTA—running into John McCain in an elevator in Cairo, Egypt and literally delivering an elevator pitch about the ATTA or meeting someone who had never heard of America. He concluded by urging everyone in the audience to follow their passion quoting from a physicist, “I’m neither pessimistic nor optimistic, I’m determined.” For more information about this event, or the Entrepreneur-in-Residence program, please contact Scott Bryant at bryant@montana.edu or 406-994-6191.

Stowell photos by Sarah Daniels

32 FACULTY AND PROGRAMS

College of Business Retention Grant HELPS IMPROVE STUDENT PARTICIPATION

BBCC coach, Sydney Rimpau with CoB student, Mariko Shimada. Photo by Kelly Gorham

The College of Business (CoB) received a Retention Initiative Grant from the Provost’s office for the fall 2011 semester, to implement and assess the success of efforts within the college to increase retention amongst freshmen enrolled in BUS 101 sections. Throughout the fall semester, coaches in the college’s Bracken Business Communications Clinic (BBCC) gave a series of presentations to all 18 sections of BUS 101, the CoB’s freshman seminar course, to share information about how to write effective business papers, how to give strong oral presentations, and how to accurately identify and cite references in research papers. “Our goal was to establish a personal connection between a BBCC coach and BUS 101 students, by assigning each coach to visit specific BUS 101 sections throughout the semester,” explained Terry Profota, principal investigator and adjunct professor of management in the CoB. “Retention studies suggest that a student’s personal connection with faculty and staff can be an important contributor to that student’s persistence in successfully working towards degree completion.” Each coach spoke to specific sections of BUS 101 students throughout the semester, with the intention of developing personal connections, encouraging students to seek additional support on written and oral communication assignments, and highlighting successful strategies to improve their educational experience. In addition, professors encouraged students to seek additional coaching support through the BBCC’s coaching staff, who provide one-onone writing and oral communications support to students enrolled in business courses. “The BBCC is unique in that it is staffed by business writing professionals with extensive

business writing experience in a variety of fields including marketing, management and law,” said Lisa Daniels, director of the BBCC. “We provide assistance to students on anything from brainstorming the outline of a paper or presentation to grammar and spelling to feedback on ways to more clearly express concepts and ideas.” In addition to frequent classroom visits, BBCC coaches also worked with BUS 101 faculty to develop a series of small group workshops, held outside of class, on specific topics pertaining to BUS 101 writing assignments. BUS 101 students who attended these workshops or made an appointment with a BBCC coach received Champ Change points, which is a new, campus-wide retention program based on a point system. Participating freshmen students accrue Champ Change points when they attend approved university events or services. At the end of the semester, students who have accumulated Champ Change points participate in an auction to bid on prizes such as tuition scholarships, flat-screen televisions and general coupons, among other prizes. “We worked diligently to coordinate our efforts in BUS 101 with other campus offerings designed to assist students and improve retention, such as the Champ Change program,” explained Profota. “We also coordinated closely with the BBCC on everything from assignment wording and structure to presentation content to workshop design and implementation. This coordinated effort really helped to create a cohesive learning experience for our students.” The BBCC experienced a 35% increase in student appointments during fall 2011, as compared to the previous fall semester. Workshop attendance was also strong, with 20% of BUS 101 students attending at least one drop-in workshop. An additional goal of the Student Retention Grant was to enable students to explore and act on their personal and career goals. One student assignment, the Personal Effectiveness Plan, was redesigned in collaboration with the Mon-

tana State University (MSU) Office of Career, Internship and Student Employment Services, to include a student self-assessment. BUS 101 students will use the results of their assessments during one-on-one discussions with Student Associates and instructors to guide students in their academic choices and graduation planning. “We believe that providing opportunities for students to further engage with their own learning and to interact directly with faculty and professional staff will result in a richer student experience that not only keeps students on track for degree completion but increases their

likelihood of success in future endeavors,” said Martha Potvin, MSU provost. “We have been impressed with the depth, breadth and creativity of the proposals submitted that will engage our students in meaningful projects.” This CoB Student Retention Grant is one of 12 awarded to colleges, departments, and students across the MSU campus. These grants are part of a campus-wide initiative designed to give MSU students a better chance to learn, flourish, and graduate successfully. Assessment of the grant’s success will take place through fall 2012.

Craig Ehlert Appointed to 2011 BOARD OF EXAMINERS FOR NATIONAL AWARD Craig Ehlert of Montana State University’s College of Business has been appointed by Dr. Patrick Gallagher, Director of the Commerce Department’s National Institute of Standards and Technology (NIST), to the 2011 Board of Examiners for the Malcolm Baldrige National Quality Award. The award, created by public law in 1987, is the highest level of national recognition for performance excellence that a U.S. organization can receive. As an examiner, Ehlert is responsible for reviewing and evaluating applications submitted for the award. The board is composed of approximately 500 leading experts selected from industry, professional and trade organizations, education and health care organizations, and nonprofits (including government). Those selected meet the highest standards of qualification and peer recognition. All members of the board must take part in a preparation course based on the Baldrige Criteria for Performance Excellence and the scoring and evaluation processes for the Baldrige Award. The Baldrige Award may be given annually in each of six categories: Manufacturing,

Service, Small Business, Education, Health Care, and Nonprofit. Awards have been presented to 80 organizations, including the 2010 recipients: MEDRAD, Warrendale, PA (manufacturing); Nestlé Purina PetCare Co., St. Louis, MO (manufacturing); Freese and Nichols Inc., Fort Worth, TX (small business); K&N Management, Austin, TX (small business); Studer Group, Gulf Breeze, FL (small business); Advocate Good Samaritan Hospital, Downers Grove, IL (health care); and Montgomery County Public Schools, Rockville, MD (education). Information about the Baldrige National Quality Program and the application process is available from the Baldrige National Quality Program, at 301-975-2036 or nqp@nist.gov, or from the Baldrige Program’s Website at http:// www.nist.gov/baldrige. The Balridge Award Program is managed by NIST in close cooperation with the private sector. The American Society for Quality (ASQ) in Milwaukee, Wisconsin, administers the program. For further information about Craig Ehlert, please e-mail, cehlert@montana. edu.

Craig Ehlert

34 FACULTY AND PROGRAMS

Microbrewery Documentary Appears in the New EDITION OF CONSUMER BEHAVIOR TEXTBOOK The documentary, “Beer Country,” about the brewing culture in the state of Montana, has been selected for inclusion in the video guide for the 10th edition (2012) of the textbook Consumer Behavior: Buying, Having, and Being, by Michael Solomon. The film is the culmination of work done by College of Business (CoB) assistant professor of marketing, Graham Austin, along with a team of three student assistants. The team traveled around the state in 2009 gathering on-camera interviews about the culture of microbreweries throughout Montana to produce the documentary.

Graham Austin

Documentary cover, design by Ryan Bone

Students contributed to the project by helping with the film’s audio, video, still photography, graphic design, packaging and video editing. Along with Dr. Austin, student research assistants Ryan Bone (MKTG) and Anthony Varriano (MKTG) spent about six weeks visiting breweries and interviewing historians, politicians, brewery owners, brewmasters, homebrewers, and customers about the history

of beer, their personal interest in brewing beer, community involvement with the breweries, and the cultural and economic effects of microbreweries in Montana and the United States. Once filming was complete, student Austin Trimbach (MGMT) provided integral assistance in the editing and final production of the hour-long documentary. The end product is a beautifully crafted documentary on a unique industry in Montana that continues to grow. The full story on the student participation in the documentary can be found at http://www.montana.edu/cpa/news/nwview. php?article=7156. “A couple of years ago, I got the idea to make a documentary about Montana breweries, and mentioned in class that I was looking for research assistants. Anthony and Ryan literally signed on right after class that day,” says Austin. “Anthony was working on a film degree at the time, and Ryan was studying graphic design, so the skills that they brought

to the table were invaluable. In another class that I teach, Austin Trimbach screened an incredible video he’d made with a friend of his, so I approached him directly to see if he was interested in helping with mine. The help that I got from all three guys while I was working on the film was extraordinary, and the end result is a much better movie than I could’ve made working alone.” Austin continues, “While we were filming and editing, I thought the best possible outcome would be for this movie to be selected for the Association for Consumer Research (ACR) Film Festival that happens every year. It’s a juried competition—the equivalent of publishing an article in a competitive journal—so I was really excited when it was chosen for the film fest in October, 2010. I didn’t expect it to go any further than that!” Then in October, 2011, the unexpected happened. Austin received an e-mail inviting her to release her work for inclusion with the new edition of the Solomon book. Pearson Higher Education, the publisher of the textbook, had asked João Fleck to select films from past ACR Film Festivals to be part of the video guide for the 10th edition of Consumer Behavior by Michael Solomon. Fleck, a doctoral student from Brazil, believed Austin’s film was a good match for one of the book’s chapters, and contacted her for permission to use it. Austin says, “I’m a fan of Michael Solomon’s research, and have used his text in my consumer behavior classes for years. Needless to say, it was hugely rewarding to me as a researcher to have this film included with the latest edition of his textbook. I can only hope that my next film—about people who run barefoot—is as successful as the first one has been, but the topic probably isn’t as popular as beer is.” The trailer for “Beer Country” can be found on YouTube at www.youtube.com/watch?v=3PciFkneBwE. For more information, please visit http://grahamsweblog.blogspot.com/ .

Which classes did you teach this year? Did you have a favorite?

Nate Jeppson

New Faculty: NATE JEPPSON How did you learn about Montana State University (MSU) and the College of Business (CoB), and what led you to pursue a faculty position here? I learned about MSU by meeting with Anne Christensen and Perry Solheim at an accounting conference in San Francisco. I really liked the relaxed yet enthusiastic approach they had toward education. I could tell they both enjoyed Bozeman and they were very kind to take time to answer all of my questions about MSU. Give us some insight of what you were doing prior to joining MSU. For three years, I worked as an auditor with a local accounting firm in Salt Lake City. I then went back to school as a doctoral student at Kent State University in northeast Ohio. I thought after passing the CPA exam and working for a few years in public accounting that being a student again would be no trouble at all! I quickly realized that I would have to work hard to keep up with the other students! What are your academic areas of expertise and interest? Most of the courses I taught previously have been in the areas of cost accounting and managerial accounting. However, my research has centered more in the area of financial accounting. More specifically, I have spent time researching earnings management and analyst forecasts.

During the fall semester, I taught both managerial accounting and cost accounting. I most enjoyed teaching the cost accounting course. This course is mostly composed of students that have chosen accounting as a major, so they were eager to learn the material and they made it easy for me to communicate the necessary concepts. After your first semester, what would you say you have enjoyed most about teaching here? So far what I have most enjoyed about teaching at MSU is the interaction between the students and the faculty. It has been refreshing to meet with students and to get to know them as we have tried to understand the concepts in each class. …the most challenging? The most challenging part of teaching here at MSU has been being ready to teach early in the morning. It usually takes me some time to get going in the morning, so being ready to provide a quality class in the morning has been challenging but rewarding. What would you like to accomplish in your first year here at MSU? Since I am still working on finishing my degree in accounting, I would like to complete the remaining requirements for my doctorate degree while helping to provide the excellent level of education that occurs here at MSU. Tell us about your other interests and what you do in your free time. Since I have a busy family, I enjoy learning about and doing whatever my children are currently interested in. Of course their interests change rapidly as they are growing up, so I have to be on my toes to keep up with them! What is one word that best describes your first semester with the MSU CoB? Exciting!

Faculty UPDATES

Tim Alzheimer

Caroline Graham Austin

Laura Black

F. William Brown

Scott Bryant

Tim Alzheimer, M.S., adjunct assistant professor of finance, continues to coordinate and administer two business simulations, in more than 70 junior high and high schools across the state, for the Montana Council on Economic Education, reaching more than 2,500 students per year. He serves on the board of the Montana Community Finance Corporation, a non-profit organization that works with commercial banks to finance real estate loans for businesses across the state through the Small Business Administration. Caroline Graham Austin, Ph.D., assistant professor of marketing, had “First Choice? Last Resort? Social Risks and Gift Card Selection,” published in the Journal of Marketing Theory and Practice with Lei Huang. A forthcoming article, “Metaperception, Reciprocity, Generosity, and Anxiety: Consumer Ambivalence and Gift Card Use,” co-authored with Huang, will appear in the Journal of Marketing Development and Competitiveness, 5(5). Austin presented at three conferences this year: “An Ethnographic Inquiry into Secondhand Consumption: Hedonic ‘Thrifting,’” with Lotus Torre, at the Society for Consumer Psychology Annual Meeting in Atlanta, GA; “Gift or Gift Card? Symbolism in Gift Exchange” and “Giving Gift Cards: Socially Safe of Time Savers,” with Huang, at the Academy of Marketing Science annual meeting in Coral Gables, FL. “Beer Country!” a documentary produced by Austin, with help from CoB students, Ryan Bone, Austin Trimbach and Anthony Varriano, will be published as a part of the video guide in the textbook, Consumer Behavior (10th ed.), Michael Solomon (Ed.), Pearson Education, Inc. Austin was selected to serve on the Steering Committee of the MSU Women’s Faculty Caucus, and is the chair-elect (to serve during AY 2012-2013). Laura Black, Ph.D., associate professor of management, had two papers accepted for publication: “Using Visual Representations as Boundary Objects to Resolve Conflict in Collaborative Model-Building,” in the Systems Research and Behavioral Science special issue on Collaborative Problem Solving in Conflicts, with co-author David F. Andersen and “Learning from Our GWAS Mistakes: From Experimental Design to Scientific Method,” in Biostatistics, with co-author Christophe G. Lambert. This year, she also worked on two large University initiatives: MSU’s proposal to the National Science Foundation’s ADVANCE Institutional Transformation program (http://www.montana. edu/wrt/advance.html) and the Social Behavioral and Economic Research Initiative (http://www.montana.edu/research/SBE_researchinitiative.html). Black chaired a subcommittee of the University Research Council on organizational infrastructures to strengthen interdisciplinary research and teaching. She was also nominated to receive the Women’s Faculty Caucus Distinguished Mentor Award. F. William Brown, Ph.D., professor of management, had “Is Higher Better? Determinants and Comparisons of Performance on the Major Field Test-Business,” co-authored with Agnieszka Bielinska-Kwapisz and Richard J. Semenik, published in the Journal of Education for Business (April 2011). Brown also presented “The Impact of Intellectual Diversity on Academic Performance” with Bielinska-Kwapisz at the Global Business Development Institute’s 14th International Conference for Business and Economics in Las Vegas, NV and “Differential Gender Performance on the Major Field TestBusiness,” with Bielinska-Kwapisz, at the 11th International Academy of Management and Business (IAMB) Conference in San Francisco, CA.

Scott Bryant, Ph.D., associate professor of management, had “HabiHut Case: Improving Shelter for People in Need” published in the Journal of Business Cases and Applications. 3:Online. “A Proposed Model for the Role of Physician Peer Mentoring in Improving Patient Satisfaction” with R. Doughty, Gary Lande, Myleen Leary and Dan Moshavi was published in the Academy of Health Care Management Journal, 5, 45-58. Lisa Daniels, B.S., director of the Bracken Business Communications Clinic, was a recipient of an MSU Retention Initiative Grant, along with Terry Profota and Agnieszka BielinskaKwapisz.

Lisa Daniels

John Dudas, M.S., adjunct instructor of accounting, the founder and race director of the Huffing for Stuffing Thanksgiving Day Run, reported a record breaking event. The start-line, at the Museum of the Rockies, saw Bozeman’s largest run/walk event, bringing together 2,760 participants and 214 children. With the help of over 200 volunteers, the event raised $28,000 for the Gallatin Valley Food Bank. Craig Ehlert, M.A., adjunct instructor of management, is the new director of the Family Business Program. He is a preliminary round judge for the American Society for Quality’s Team Excellence Award and an examiner for the Malcolm Baldrige National Quality Award. Ehlert also served as an exam reviewer for the American Society for Quality (ASQ)’s Certified Manager of Quality and Organizational Excellence Exam this past year. Ehlert is involved with MSU Athletics as the CoB’s liaison for prospective student athletes and serves as a student athlete mentor. He is also on the scoring crew for football, men’s and women’s basketball and volleyball, and is an official for MSU track meets. Anne Christensen, Ph.D., professor of accounting, had “Implementing Assurance of Learning Plans: An Accounting Program and Individual Courses Analysis,” co-authored with A. Judd and N. Nichols, published in the Journal of Education for Business, 84-91. She presented a research proposal, “Professionalism, Ethics, and Participation in Volunteer Income Tax Assistance Programs,” at the Behavioral Tax Research Symposium, in June, at George Mason University. Christensen also served as President of the Western Region of the American Accounting Association (2010-2011). She is currently a trustee of the American Taxation Association, the chair of the American Taxation Association Publications Committee and a member of the American Accounting Association Regions Strategic Taskforce. She was also on the panel, “Preparing for the Interview Process,” designed to help individuals seeking academic accounting positions, at the American Accounting Association annual meeting. She continues to direct MSU’s Volunteer Income Tax Assistance (VITA) program.

John Dudas

Craig Ehlert

Anne Christensen

Mike Gold, B.SC., adjunct instructor of marketing, gave three presentations in 2011. He presented “How to Improve Creativity in TV Commercials” for ABC/FOX TV stations and CBS TV stations in Montana. Gold also presented “How the Digital Space Influences Marketing Communications” at the annual conference of the Western Association of Fish and Wildlife Agencies in Big Sky, Montana.

Mike Gold

Faculty UPDATES

Minette Jessup

Minette Jessup, B.S., adjunct instructor of management, served on the CoB Assessment of Learning committee, participated in the spring MSU telethon for the CoB, was elected by the adjunct instructors to represent them on the Academic Programs committee, and was appointed to serve on the CoB Dean Search Committee. Jessup was also asked to speak for Aspen Pointe’s MSU Speaker Series. She served as a student mentor in MSU’s McNair Scholars program, a financial mentor through Love, Inc., and was re-elected as a director of the board and treasurer of the Bridger Parks Homeowners Association. Bonita Peterson Kramer, Ph.D., professor of accounting, had “Conducting Effective Ponzi Scheme Investigations,” co-authored with Tom Buckhoff, of Georgia Southern University published in the Journal of Investigative and Forensic Accounting. She presented “Conducting Effective Ponzi Scheme Investigations” at the 2nd annual American Accounting Association Forensic & Investigative Accounting Mid-Year Conference, with co-author Tom Buckhoff, in New Orleans, LA, March 2011. Kramer also served as an editorial board member for the Journal of Investigative and Forensic Accounting.

Bonita Peterson Kramer

Michael W. Kroff, Ph.D., assistant professor of marketing, had “Exploring Consumer Perceptions of Product Innovativeness,” co-authored with Michael Reilly, published in the Review of Management Innovation and Creativity, 4(February), 101-17.

Michael W. Kroff

Agnieszka Bielinska-Kwapisz

Gary Lande

Agnieszka Bielinska-Kwapisz, Ph.D., visiting assistant professor, had “Is Higher Better? Determinants and Comparisons of Performance on the Major Field Test-Business,” co-authored with F. William Brown and Richard J. Semenik, published in the Journal of Education for Business (April 2011). “Alcohol Consumption and its Adverse Effects in Poland in Years 1950-2005,” co-authored with Zofia Mielecka-Kubien, was published in the Economics Research International, 2011. Bielinska-Kwapisz also presented “The Impact of Intellectual Diversity on Academic Performance” with F. William Brown at the Global Business Development Institute’s 14th International Conference for Business and Economics in Las Vegas, NV and “Differential Gender Performance on the Major Field Test-Business,” with F. William Brown, at the 11th International Academy of Management and Business (IAMB) Conference in San Francisco, CA. With Terry Profota and Lisa Daniels, Bielinksa-Kwapisz received the MSU Retention Initiative 2011 grant. In the fall, she served as an advisor for CoB student, Hunter Metcalf, who conducted research on the “Factors Influencing Student Retention in Higher Education,” funded by the MSU Undergraduate Scholars Program grant. Gary Lande, M.D., adjunct instructor of management, had “A Proposed Model for the Role of Physician Peer Mentoring in Improving Patient Satisfaction,” co-authored with Scott Bryant, R. Doughty, Myleen Leary and Dan Moshavi, published in the Academy of Health Care Management Journal, 5, 45-58.

Lori Goss Lawson, M.A., adjunct instructor of management, received three teaching awards this year: The 2011 Award for Teaching Excellence (nominated by Megan Haywood-Sullivan, a Global Multicultural/Liberal Studies student), The Mortar Board’s Professor of the Month for February and the President’s Award for Teaching Excellence—Honorable Mention. Lawson volunteered as an Advisory Board Member for Engineers Without Borders and as a McNair Scholar mentor for Sasha Dingle. She completed a two-year term as a citizen representative on the Bozeman Daily Chronicle editorial board, and designed and delivered a workshop titled “Creating Hope— Positive Approaches to Global Problems,” for the non-profit organization, Girls for a Change. Lawson designed and co-taught an extended education community series, “Quest for Understanding” and worked as a Bracken Business Communication Center (BBCC) coach. She attended the month-long Summer Institute for Intercultural Communication, at Reed College on a Bracken Award for Faculty Development and concluded a provost funded multi-month project she designed to assess the intercultural competency of MSU students. Myleen Leary, Ph.D., assistant professor of management, had “A Proposed Model for the Role of Physician Peer Mentoring in Improving Patient Satisfaction,” co-authored with Scott Bryant, R. Doughty, Gary Lande and Dan Moshavi, published in the Academy of Health Care Management Journal, 5, 45-58. Terry Profota, M.N.M, adjunct instructor of management, presented a full-day workshop, “Creating Boards that Lead” at the 10th Annual Montana Nonprofit Association Conference and “Professional Development through Board Membership” for the MSU College of Business Women’s Circle of Excellence Conference. Profota coordinates the BUS 101 Freshmen Seminar. She was a recipient of a MSU Retention Initiative Grant, along with Lisa Daniels and Agnieszka Bielinska-Kwapisz. Profota served on the Freshman Convocation Committee, the Advisory Council for the Cancer Support Community and Engineers Without Borders. In addition to teaching, Profota is a Partner in Sage Solutions Nonprofit Consulting, LLC. During 2011 she worked with over 25 nonprofit organizations in Montana, Wyoming and Idaho, helping build their leadership, programming, marketing, financial management and fundraising capacities and infrastructures.

Lori Goss Lawson

Myleen Leary

Terry Profota

Michael Reilly, Ph.D., professor of marketing. “Exploring Consumer Perceptions of Product Innovativeness,” co-authored with Michael W. Kroff, was published in the Review of Management Innovation and Creativity, 4(February), 101-17. Richard J. Semenik, Ph.D., professor emeritus of marketing, had his advertising book, Advertising and Integrated Brand Promotions, co-authored with Tom O’Guinn (University of Wisconsin) and Chris Allen (University of Cincinnati), 6th edition, released in April. The book has been used in over 600 universities, in eight countries, and has been translated into Spanish and Portuguese. “Is Higher Better? Determinants and Comparisons of Performance on the Major Field Test-Business,” co-authored with Agnieszka Bielinska-Kwapisz and F. William Brown, was published in the Journal of Education for Business (April 2011).

Michael Reilly

Richard J. Semenik

40 FACULTY AND PROGRAMS

MSU College of Business Providing MORE INTERNATIONAL OPPORTUNITIES Through study abroad programs, internships and independent studies, the Montana State University (MSU) College of Business (CoB) encourages students to formulate the educational experience necessary to work and succeed in an international marketplace. More and more, employees are required to interact with coworkers and clients from different cultural backgrounds and are expected to have relevant expertise to excel and be competitive. The CoB has partnered with the University of Montana (UM) to help provide these international opportunities.

I THINK THAT THE ITALY PROGRAM WAS TERRIFIC… IT HAS BEEN ONE OF THE GREATEST LEARNING OPPORTUNITIES OF MY LIFE. DA V I D J OHA NN E SSE N

Last year, two students participated in a joint program with the UM business school where students spent two weeks in Bresica, Italy, exploring business and culture for the first time. This year, four students were able to take advantage of this great opportunity: Leigh Enselman, David Johannessen, Hannah Taylor and Kate Snapp. This a faculty-led, intensive two-week summer program focuses on international business and world trade. Students are exposed to topics related to international strategies such as global competitiveness, foreign markets, world trade and commerce. Students participated in classes at the Universita’ degli Studi di Brescia with American and Italian professors and spent time visiting Italian companies and cultural landmarks. They also participated in

CoB students (front L-R): Leigh Enselman, Hannah Taylor, Kate Snapp, David Johannessen, and UM professor, Michael Braun (back).

group projects and each team put together marketing plans for the World Trade Center Brescia. Enselman, Johannessen and Taylor created a marketing mix plan for the Gun Expo consulting group and Snapp helped create an expansion plan for a museum partnership in Brescia. Johannessen really valued the experience. “I think that the Italy program was terrific. I could list off a million and one things that I learned about international business, or working as a consulting group in a professional setting, or how Italians conduct business… However, when it comes right down to it, the things that I learned outside the classroom…are the life experiences that I am going to remember and build on. It has been one of the greatest learning opportunities of my life.” This is just one of a number of opportunities the CoB offers students that provides unique international business experiences. For another great example of international opportunities, please see the Q&A story with Keegan Latta, recent CoB alumnus, and his experiences with another program partnered with UM to China on the next page. For more information about international opportunities, please contact Linda Ward in the Bracken Center, lward@montana.edu or 406-994-1995.

Brescia

Leigh Enselman, David Johannessen, Hannah Taylor and Kate Snapp were able to visit famous landmarks in Italy.

Life Changing Experiences from TRAVELING TO THE OTHER SIDE OF THE WORLD Keegan Latta Degree Option: Business Management Year Graduated: December 2011 The MSU College of Business collaborated with its University of Montana counterparts to offer this new student opportunity. Tell us a little about yourself and how you came to participate in the summer China program. I am from a small town in Wyoming, and was enrolled in my second to last semester at MSU when I attended this program. I have since completed my undergraduate program at MSU, and now have a degree in business management. My interest for traveling to China began years ago. I have always been very excited to travel and experience new places; however, Asia had

yet to make my checklist. As soon as I learned of this opportunity, I immediately applied for the program. I was accepted and began communicating with the trip leader, Dr. Fengru Li of the University of Montana. She is an amazing woman, and helped guide me through the necessary steps of the trip. Could you please tell us more about this program, its structure and your counterparts? The program was based around U.S.-Chinese business negotiations. Essentially, we worked with our counterparts in a classroom setting revolving around mock negotiations. It was very interesting to see how the different groups interacted throughout the negotiations. I feel the U.S. students had the upper hand because we were required to negotiate in English, but many of our counterparts were very persistent and extremely knowledgeable during negotiations. Continued on next page

Summer program participants: Keegan Latta is the second person from th left, top row, wearing a blue shirt.

42 FACULTY AND PROGRAMS

Continued from previous page Aside from the classroom, we spent much of our time exploring the cities with our counterparts. The Beijing counterparts spent the most time with us, and we all became quite close during the two weeks of study there. The other educational focus was tours of U.S. based companies within China. This was a great experience to explore these businesses, and gain a greater understanding of international business. What were some of the activities you engaged in while in China? Where did you visit?

Keegan (third from left) with some of his Chinese counterparts in the program.

reactions in certain settings. It was fascinating to watch my peers react differently to certain negative experiences we encountered on our journey. I also learned a very small amount of Chinese, which I plan to expand upon in the very near future. Learning about the Chinese culture was absolutely amazing. Completely immersing yourself in such a foreign setting takes your breath away. I hope to return to China soon, and potentially live there for several years. Was this international program a positive experience for you?

When we were not engaged in classroom activities, we toured many cultural sites in and Very much so! This is an experience I will never around the cities where we stayed. These sites in- forget. I was fortunate enough to be accompacluded: The Summer Palace (Beijing), The Great nied by some of the greatest people I have ever Wall (Beijing), The Forbidden City (Beijing), had the pleasure of meeting. Especially Dr. Li The Miao Village (Guizhou), Panda Research and Suhan Chen. These two women organized Center (Chengdu), and many other interesting the trip, and made the trip what it was. I gained areas throughout the trip. During our stay in new knowledge, and was able to experience the Guizhou, we were fortunate enough to play a “real” China. game of basketball with the college team. It was Has this experience impacted your future an amazing experience, to say the least. There goals? were several hundred students who turned out for the game, and they were kind enough to It has made me think twice about what I actucheer for both teams. We were defeated by ally want to do when I grow up. I definitely plan several points, but it was a life altering experito return to China, and may potentially pursue ence nonetheless. a career in international business with a focus on China. So, yes this trip did in fact impact What were some memorable parts of the trip? my future goals significantly. I feel it was one of The basketball game I mentioned was one of the the best experiences I have ever had in my life, most memorable parts of the trip. Other memo- and would encourage anyone, student or not, to rable parts included staying in the ancient Miao travel to China and experience their culture. Village located in the mountains outside of Any advice for future participants of the Guizhou. Airport security in general, throughprogram? out the country, was quite memorable. Arriving in Shanghai and finding Italian food, and The best advice I can give to any individual mostly the great friends I made during the trip, considering the program is to expect anything both counterparts and UM students. You really and have an open mind. The culture of China get to know people when you spend a month is so dramatically different than anything I with them, especially when you are travelling in had previously experienced, and going into the a foreign country. One particular counterpart trip with an open mind greatly benefited my that really made our stay in Beijing that much overall experience. Another tip, if possible, study more enjoyable was named Super Li, and he the language and try to have a grasp of basic became a good friend during our two-week stay phrases. This is one area in which I wish I had in the city. spent more time. Overall, have fun with it and don’t pass on any opportunity to see more of the What were the most interesting things you country while you are there. You only live once, learned while on the trip? so experience as much as you possibly can, while Aside from the negotiations, the most interestyou can! ing thing I learned and experienced was people’s

New Faculty: BRENT ROSSO How did you learn about MSU and the College of Business, and what led you to pursue a faculty position here? My sister-in-law has lived in Bozeman for about 7 years, and I also grew up skiing in the area. When the opportunity arose for the job at the College of Business, I couldn’t pass up the opportunity to apply. I was impressed by the college’s orientation toward exceptional teaching and research, and by the phenomenal and cohesive group of colleagues. I feel very fortunate to be here. Give us some insight of what you were doing prior to joining MSU. I came to MSU from the University of Michigan, where I completed my Ph.D. in Management & Organization (Ross School of Business) and Organizational Psychology (College of Literature, Science, and Arts). Prior to my doctoral studies, I worked as an associate consultant with Personnel Decisions International (PDI), where I consulted with multinational corporate clients in the areas of leadership development and change management. What are your academic areas of expertise and interest? I take a psychological approach to the study of management and organizations. Using both quantitative and qualitative research methods, I aim to understand generative work experiences and environments. I am especially interested in understanding the dynamics of organizations that do good in addition to doing well. What about your research interests? The primary focus of my research is on the tensions inherent to creativity and innovation in organizations. I am particularly interested in the context of new product development and entrepreneurship. In my dissertation research, for example, I explored the paradoxical nature of constraints in the creative processes of new product and technology development

teams, highlighting how constraint can enhance as well as inhibit team creativity. In related work, I have examined how organizational teams manage the tensions between efficiency and creativity. In other streams of research, I examine how work comes to be perceived as meaningful, and the personal and organizational consequences of the experience of meaningful work. In a recent paper published in Research in Organizational Behavior, for example, my colleagues and I developed a theoretical framework, based on the extant literature, for four key psychological pathways by which work is experienced as meaningful. My research has been published in outlets such as the Academy of Management Journal, Research in Organizational Behavior, and Research on Managing Groups and Teams. Which classes did you teach this year? Did you have a favorite? I taught Entrepreneurship (MGMT 462) in the fall, and am currently teaching Management & Organizations (BUS 301). Both have been wonderful experiences for me. I have really enjoyed working with and learning from the exceptional students at the College of Business. After your first semester, what would you say you have enjoyed most about teaching here? In the Entrepreneurship course, I began the semester with a new exercise called “the Entreprentice,” in which I challenged students to devise, launch and run a new business based on $25 of start-up capital. I was very impressed with how the students rose to this challenge, devising a wide variety of creative and savvy business ideas and demonstrating tremendous resilience in the face of considerable obstacles. In sum, the teams made $2,690.45 in less than three weeks and donated $1,907.95 to two local charities.

Brent Rosso

I have also been impressed by students’ desire to apply course principles to real-world experiences, and by the rich and diverse range of prior personal work experiences they bring to their business education. . . . the most challenging? Growing a beard to bolster my “Montana Man” street cred. Tell us about your other interests and what you do in your free time. In my free time, I enjoy outdoor recreation, international travel, writing and playing music, and spending time with my family. What is one word that best describes your first semester with the MSU College of Business? Exciting!

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Stu Bohart Brings Wall Street to MSU, AS FALL ORSER SPEAKER Stuart Bohart, senior managing director for Fortress Investment Group in New York, spoke to a packed house of students, faculty and community members during the fall Orser speaker series, hosted by the College of Business (CoB) on September 20, at Montana State University (MSU). His lecture, “Investing in Complex Global Markets—Strategies for Good Times and Bad,” highlighted investment strategies to use in changing times, the power of compounding one’s investments and how risk affects investment returns.

Stuart Bohart

ONE OF THE KEY I S S U E S W ITH I N V E S TI N G I S TO K N OW W H AT YO U A R E TRY I N G TO AC H I E V E . W H AT I S YO U R G OA L? STUART BOHART

According to Bohart, two things matter when it comes to compounding an investment: time and the rate of return. The lesson Bohart stressed, especially to students, was the sooner they start investing, the better their investment outcomes will be. He encouraged students to pay off their credit cards as soon as possible saying, “you will never keep up with those 25 percent interest rates,” and encouraged them to start saving a little, right now. He explained how saving a little each month can really add up, and in 20 years, he assured students they would be surprised at how much they had accumulated.

Asian studies. He has worked in Beijing, Tokyo, London and finally New York, where he lives with his wife and three daughters. Sometimes, people ask him how he ended up in New York, when he grew up in Nebraska. His answer: “I got there because I went there. I found a job. I showed up and I met people. I had done the work, so I could take something and make it happen.” As a diversified asset manager at Fortress, Bohart offers private equity, credit, real estate and hedge fund investments to his clients. His responsibilities include developing the firm’s liquid hedge fund strategies, overseeing corporate strategy and serving on the firm’s management and operating committees. The Role Risk Plays in Investing Bohart described the role risk plays in investing by examining inflation, one risk that investors must always think about. When investing one should consider, as Bohart said, “how much a potential investment will cost in the future. When you invest, you need to think about what will take away the buying power.”

When considering risk, Bohart also highlighted the role government plays in taxes, the Bohart’s investment experience has helped regulatory environment and economic stability. his clients better understand their investment “We have trouble dealing with ever-changing goals. He said, “One of the key issues with circumstances,” said Bohart. “The variability in investing is to know what you are trying to the regulatory environment is one reason why achieve. What is your goal?” He encouraged the economy can’t seem to get going, because the audience to avoid thinking about risk as no one has the confidence to move ahead. You “the probability of losing money,” but rather as need a good environment for investing.” “the probability that you don’t meet your goal or expectation.” The follow-up question to answer Bohart offered a four-pronged strategy for is “Am I investing to meet my goals?” successful investing: 1) Set your goal(s). 2) Understand your goal(s). 3) Balance risk and How He Made it to Wall Street reward. 4) Provide diversity in the portfolio. Bohart, who also serves as president of Liquid This strategy allows an investor to examine the Markets at Fortress Investment Group, grew up risk against the reward, in order to provide a in Lincoln, NE, in a middle class family. “I was balance between the two. not always a New Yorker,” he said. His father worked for the Department of Agriculture, and his mother was a teacher. He described his upbringing as average; he did not ride on an airplane until he was 13 and applied for his first passport when he was a junior in college, when he took a year off to travel through China.

Bohart graduated from Northwestern University in 1989 with dual degrees in economics and

Other Matters to Consider When Investing Bohart helped the audience understand the complexities investors should consider when making investment choices. He said, “The world is a very complex place. You need to think about the world as the place in which you live—a global economy. You are connected to the world now.”

Bohart said, for example, when he visited the MSU bookstore, he looked at four T-shirts to see where they were made: Mexico, Vietnam, Haiti and China. “You may say, ‘well, that’s not right; I want a made-in-America T-shirt’ but, do you want to pay $40 for it, or do you want the $20 t-shirt? Those T-shirts are for sale in the bookstore—made in four different countries, none of which is the U.S.—because of what the U.S. consumer wants, which is inexpensive merchandise. That is not going to change.” If a TV manufacturer in the U.S. opened a store and started selling TVs for $5,000, they would go out of business, because U.S. consumers would buy an $800 TV from Walmart or Target. The consumer has the power. When a person is investing, he must look at everything from a global perspective. “It doesn’t mean that you need to run out there and invest in every emerging market,” said Bohart. “This country has great opportunities, but you need to recognize the global impacts.” Now, it’s Time to Invest Bohart wrapped up his lecture by examining the final step in the investment process, making an investment decision. He described one successful decision-making strategy for investors: “You make a plan, and then you look at the different categories you can invest in: credit, equity, real estate and commodities.” Bohart explained to the audience that “Credit refers to lending money, equity means investing in business, real estate is land and commodities produce cash flow.” Bohart said that investors should evaluate whether a potential investment has a use. He used as an example investing in gold versus oil, saying that oil is used in everything, but gold is used to make jewelry. He said he invests in real assets, not things, and described real assets as enterprises that produce cash flow, such as a business. According to Bohart, cash flow is the key to safer investing. From there, he said one should ask, “What would I pay for that cash flow?” When an investor has chosen an investment category, researched possible investment choices and made a potential investment decision, Bohart said the final question to ask is, “When I put something in, what do I get back and when? That’s investing!” The David Orser Executive Speaker’s Forum, named for David B. Orser, a 1966 CoB graduate, is meant to inspire CoB students to pursue careers as innovative, responsible and ethical business leaders. Orser began funding the program in 1988. For more information about this and future David Orser Executive Speaker’s Forum events, please contact Audrey Lee at 406-994-7026 or audrey.lee@montana.edu.

46 FACULTY AND PROGRAMS

Google Executive Speaks to Students, Gives INSIGHT INTO BUSINESS AND TECHNOLOGY The Montana State University College of Business (CoB) hosted Jeff Sundheim, senior account director with Google’s Rich Media & Video Solutions business unit (formerly DoubleClick), as the featured speaker for the spring 2011 David B. Orser Executive Lecture series. Sundheim’s presentation, “Google: Inside & Out,” was timely and pertinent for CoB students with the ever evolving technologies surrounding online business. He discussed how business and technology can work together in an easy to understand fashion, with clever examples from his work at Google and at DoubleClick. He also discussed online advertising, the future of multimedia, and changes in marketing based on online technology. Jeff Sundheim

Sundheim discussed Google’s business focus areas such as search, display and mobile advertising and “cloud” computing. He told the audience that Google pioneered “search advertising” by serving as a broker or agent who sells ads for other companies all across the Web. Google enables companies to match their online ads to a user’s keyword search requests. Display advertising, what people traditionally think of as “advertising,” is comprised of images and was initially not Google’s strength. Acquiring DoubleClick, which was a leading expert in dynamic ads, Google now provides companies with advertising “hits” and the ability to sell products, as well as the ability to gather research information about certain user values or opinions. Sundheim said that mobile advertising, driven by the growth of smartphones with full WebKit browsers, is the upward trend in online advertising. Mobile devices will soon overtake PCs as the primary way people around the world access the Web, leading companies like Google to include this type of advertising as a business focus.

Sundheim’s road to Google was full of twists and turns. His career, prior to working for Google, straddled the three different worlds of the marketing universe: client, agency and media. Sundheim managed advertising strategy for business to business markets at Apple Computer, served in account management and business development roles at ad agencies on both Cloud computing is another area Google is the east and west coasts, and was publisher of developing. With cloud computing, users work one of the computer industry’s largest and most with online based applications, like Gmail, profitable trade magazines. Originally working that aren’t on their desktops. For example, if in marketing, Sundheim developed an affinity your laptop is damaged, you still have access to for advertising and then moved into media Gmail from other computer locations. If you advertising and online advertising. Eventually are working in the cloud, everything is Webhe started DoubleClick, which specialized in based and can be retrieved from any location dynamic display advertising. Filling a need and that has internet access. If you are working in weaker business area for Google, Sundheim’s Word and your laptop is damaged or stolen, company was acquired and he started working “disaster recovery” can be very difficult, so for Google. backing up your documents in the cloud and having access to the cloud can be very imporSundheim shared information about Google’s tant. Cloud computing is a major initiative for corporate structure, its vision, and what Google because it is integral to individual and Google is like from an employee’s perspective. business document preservation. He highlighted Google’s mission “to organize the world‘s information and make it univerSundheim then talked about Google culture— sally accessible and useful.” Understanding the being “Googly”— which strives to cultivate incompany mission gave the audience a clear and novative thinking and openness and transparconcise representation of the business’s purpose ency. The company encourages its employees for existence and that the mission is mandatory to be invested in the company, to know what is for the company’s direction. All strategic decigoing on with the company at all times, and to sions at Google are made by carefully evaluatalways be thinking innovatively. The coming whether or not the decision is in line with pany also has a “20% rule,” which encourages its mission. employee creativity. With freedom to create, Google found that 20% of their engineers

spend 20% of their time on non-job description items that have led to innovative applications and products such as Gmail and driverless cars. Sundheim now works closely with major online publishers, helping them develop new types of display ads that are innovative, engaging and informative for end users. He is using interactive platforms to connect with users. Google acquired Teracent in February, 2010. Teracent’s cookie applications focus on dynamic ad creation–catering the ad to the users’ interests, which makes the ad content easier and simpler to digest. With his diverse experience, Sundheim is a great example for CoB students of a successful entrepreneur. Sundheim’s ability to quickly adapt to marketing changes with new innovations has made him a game-changer in the world of online advertising, both for advertisers and for end users. The David Orser Executive Speaker’s Forum, named for David B. Orser, a 1966 CoB graduate, is meant to inspire CoB students to pursue careers as innovative, responsible and ethical business leaders. Orser began funding the program in 1988. For more information about this and future David Orser Executive Speaker’s Forum events, please contact Audrey Lee at 994-7026 or audrey.lee@montana.edu.

COLLEGE OF BUSINESS ASSISTANT PROFESSOR RECEIVES “BEST PAPER AWARD” IN ACADEMIC JOURNAL Myleen Leary was awarded a “Best Paper Award” in the Macro Category from the academic journal, Group and Organization Management, in 2011. Her article, co-written with Michael L. DeVaughn, of the University of Thomas, “Antecedents of Failure for Newly Chartered Banks in the U.S. Banking Industry,” was one of two articles editors selected to represent the journal’s most significant articles for 2011. Leary and DeVaughn’s research focused on internal organizational factors that lead to organizational distress, a precursor to new bank failure. The record number of bank failures nationwide in 2009 underscored the value of understanding how founding team characteristics influence organizational distress and the increasing impact of this area of entrepreneurship research.

48 TITLE

Community INVOLVEMENT

COLLEGE OF BUSINESS: 2011 International Exchange Students

Norway: 3

Sweden: 1

Canada: 6 Poland: 1 Germany: 1 Morocco: 1 Mexico: 3

Kazakhstan: 1

Mongolia: 1

Kuwait: 2 Tajikistan: 1 Saudi Arabia: 8

Haiti: 1 Jamaica: 1 Nigeria: 1

Various Countries: 19

Total students for 2011: 97

China: 36

India: 4

South Korea: 2 Japan: 4

50 COMMUNITY INVOLVEMENT

Entrepreneurship Course Provides Students with REAL-WORLD BUSINESS EXPERIENCE Students enrolled in Management (MGMT) 463, The Entrepreneurial Experience, gain practical management experience as they work in teams with a local company to apply their business skills and knowledge to solve realworld business issues. This rigorous capstone course, designed for the Entrepreneurship and Small Business Management minor, places students in the position of consultants to small businesses, where they work in small teams on a variety of projects, from market assessments and promotional materials to evaluating pricing strategies and the use of social media.

(L-R): Liz McRae, Allison Hunthausen, Kaley Bjornsen, Christine Geil and Gary Bishop

perspective of women in their early 20’s,” said McRae. “As business students, they helped us identify Wizbang Hats’ strengths and weaknesses and gave us strategies to improve those weaknesses.” One marketing strategy the all-women team offered to McRae and her business associate, Betsy Beauvais, was to implement a “Cap on Cancer” campaign during the month of October, to tie in with National Breast Cancer Awareness Month. The students’ idea was to offer a unique hat during the month of October that provided a donation opportunity for Wizbang’s customers.

“Management 463 offers tremendous benefits to both students and clients,” explained Gary “We loved the girls’ idea of supporting our local Bishop, adjunct instructor of management in cancer community, and this promotion fits the College of Business (CoB) and director in very well with who we are as a company,” of student research services at the Jake Jabs said McRae. “We decided to implement the Center for Entrepreneurship for the New campaign in a limited way this October. Every West. “Clients receive time a customer purchases one specialty hat, professional business Wizbang Hats will donate a light-weight hat to consulting in a 15-week a local cancer center.” long experience, as students bring their The practical skills students develop through knowledge in business this course are important tools that will help marketing, managethem stand out to prospective employers or ment, finance and begin their own, successful business ventures. accounting to bear on Students also deepen their understanding of specific client probwhat it takes to start and run a small business. lems or issues. And students receive valu“In Management 463, most of the clients we able practical experiworked with own small businesses, but they ence in applying their never went to business school,” explained Alliacademic knowledge son Hunthausen, a recent graduate of the CoB and skills to specific business situations that who majored in business management with a involve real-world challenges and stresses.” minor in entrepreneurship and small business management. In the spring 2011 semester, Bishop matched one student team from MGMT 463 with “This experience was really great for us, as Wizbang Hats, an outdoor hat retailer located 22- and 23-year-old students, to see what we in Bozeman. Allison Hunthausen, Kaley actually knew from our business courses and Bjornsen, and Christine Geil worked with Liz what we brought to the table for Wizbang. We McRae, Wizbang Hats’ owner, to offer busihad some creative ideas that we shared with Liz ness consulting in three key areas: to devise and Betsy, based on our business knowledge ways to use social media as a publicity tool, and research, and we gained valuable work to develop a strategic marketing plan, and to experience through this process.” research the company’s competitors. MGMT 463 is part of the Alderson Program in “The girls were great to work with and proEntrepreneurship, which offers students unique vided us with a new, fresh viewpoint, from the developmental experiences through course-

work. The skills learned through these courses have enabled 410 CoB students to provide more than 14,500 hours of pro bono consulting to more than 140 clients, resulting in 400 new jobs in these companies since the Center’s founding in 2002.

To participate in MGMT 463 as a small business owner, contact Gary Bishop, 406-994-7017 or e-mail Gary at gbishop@montana.edu.

2011 GUEST SPEAKERS Phil Bailey, Bailey Brinkman AZ Robin Bequet, Bequet Confections Patti Berg, City of Bozeman JoAnn Brekhus, past Sweet Pea Festival Executive Director Tate Chamberlin, Chamberlin Productions Tamra Chandler, PeopleFirm Susan Dana, College of Business Kandi Davis, retired shop owner Cheri Decker, Simms Fishing Products Todd Eliason, business consultant, semi-retired Jeff Eschbaugh, Heart of Montana Realty Bill Feniger, Universal Metals Brad Foster, Rasorfish.com Jim Gibbon, PGC Advertising, retired Dana Gleason, Mystery Ranch Don Greer, Greer Black Company Mary Anne Hawkins, Macy’s Department Store Devin Hutton, Enterprise Holdings Keli Idles, Independent consultant Peggy Jennings, Eide Bailey Michael Johns, RightNow Technologies Frank-Paul King, King/Strategic Finance Bryan Klein, American Bank Jim Klos, Retired Suzie Lalich, PrintingForLess.com Stuart Leidner, Prospera Business Network David Loessberg, Boeing Pete MacFayden, Big Sky Youth Empowerment Meghann McKenna, McKenna Financial New York Life Stephen Michael, SRO Live Babs Noelle, Alara Jewelry Toni O’Berry, O’Berry Collaborative Strategy Group Paul Pahut, Mountain West Bank David Palagi, Stifel, Nicolaus & Co. Mary Petersen, Eagle Mount

Matthew Pittman, Studio Enhance.com Marne Reed, PrintingForLess.com Rick Reisig, Anderson ZurMuehlen Julie Rich, RightNow Technologies Alicia Rodriguez, Enterprise Holdings Tanya Rupe, Mountain Sky Guest Ranch Pat Rypinski, Retired Bonnie Sachatello-Sawyer, Hopa Mountain Dennis Schweitzer, Retired Kyle Spencer, Enterprise Holdings Brandon Steinagel, Enterprise Holdings Ellie Staley, Downtown Bozeman Partnership Jared Tanner PFL and Uplanders.com Buzz Tarlow, Tarlow, Stonecipher & Steele Carson Taylor, Bozeman City Council KC Tolliver, Summit Resource Imports Rick Ungersma, Murdoch’s Home and Ranch Janice Whetstone, Janice K. Whetstone P.C. Law Firm Jamie Wieferich, D.A. Davidson Ken Williams, Williams Plumbing & Heating

Brandon Steinagel

Stephen Michael

Frank-Paul King

Tate Chamberlin and JoAnn Brekhus

52 COMMUNITY INVOLVEMENT

CoB Students Work with Montana Company TO FIND THE “RITE” BUSINESS SOLUTION Over the years, the bobbin has achieved a worldwide reputation and boasts the “Made in Montana” seal. However, sales were not increasing and in a small niche market, something needed to be done.

Lyle and Justin Graff with their machine that bends the metal tubing for the bobbin.

Each semester, College of Business (CoB) students enrolled in the Alderson Entrepreneur Program work with Montana businesses and nonprofit organizations to gain practical business experience. The students work with companies to develop business, marketing and financial plans, identify ways to improve sales, suggest solutions to problems, re-brand, compile market and competition analysis, sales analysis, feasibility studies and help with human resources and customer service issues. One company to take advantage of this opportunity is Merco Products, seller of the RiteTM Bobbin, a high-end tool used for fly tying. The RiteTM Bobbin was an idea conceived by Bill Merg, a master fly tyer and manufacturing engineer. After perfecting the design, Merg and his wife began Merco Products in Sunnyvale, California in 1993. Lyle Graff, a retired Northwest Airlines pilot, avid fly fisherman and fly tyer, had been using the bobbin and called the company to mention a problem he had with one of the bobbins. Expecting a “press 1 to speak to” message on the other end, he was surprised to hear a woman’s voice. When he asked for someone from RiteTM Bobbins, he heard, “Bill! It’s for you.” Graff became friends with the Mergs and eventually took over the business, before moving the headquarters to Nye, MT in 2006.

Originally, Graff’s daughter mentioned the consulting course to him, but he didn’t seriously consider the opportunity until he ran into a couple of CoB students in Ennis. He asked if they had heard anything about the consulting course. They said “Yeah we both took it and it was the best course we had in college.” This motivated Graff to look into the program. He e-mailed Gary Bishop, the instructor for MGMT 463 Entrepreneurial Experience. Graff was worried that the course wouldn’t take on such a small company, but Bishop contacted him to talk about Merco Products and see whether or not the business was a fit. Michael Henrich and Shawn Menning were paired up with Merco Products through the MGMT 463 course. Graff said the challenge with his business was to raise his profile in an already small business sector with limited funds. Over the course of the semester, the students met face-to-face with Graff and his son, also in the business. Henrich and Menning met with the Graffs, once in Nye and once at the CoB for the final presentation and recommendation. Otherwise, they mainly corresponded with the Graffs over the phone and through e-mail. After a semester of research and analyzing data, Henrich and Menning presented Graff with a list of suggested changes that would help the business increase sales and gain more exposure in the industry. Low-cost suggestions included creating a Facebook page and utilizing other social media avenues. Merco Products made most of the recommended changes, specifically the suggestion to boost online retail sales by producing a YouTube video, which they launched at the same time as the introduction of their new RiteTM Half Hitch Mag Bobbin. Graff said the students were “right on the money” with these suggestions. Their Facebook page now has about 140 fans and their first YouTube video has had more than 10,000 views.

This new bobbin was a concept that was developed with the assistance of a group of young MSU engineering alumni. They helped with the research and development of the product, machining of the parts and, best of all, they were already fly fishing and fly tying enthusiasts. “The experience was very positive,” Graff said. He really enjoyed working with the CoB students, Gary Bishop and the MSU engineering alumni. “At first we were afraid these suggestions were going to cost a lot and be very time consuming, but the video took 20 minutes and costs were pretty minimal in the scheme of things.” Graff said that the students really exceeded his expectations.

issues throughout the semester, reporting final recommendations during the a final presentation for the clients. Their number one recommendation was that Lyle and Justin update their Website which they plan on implementing right after their January tradeshows. They also plan on implementing new technology that allows credit cards to be used via a “swiper” attached to a smart phone or laptop. Graff said, “We did not have this capability in Denver a couple of weeks ago and I estimate we let $500 in business get away.”

Overall, the Graffs were very pleased with In 2010, the new product, paired with the strathe research and suggestions from the student tegic marketing and promotion of the company group for Merco. They were impressed with all and bobbin, has led to the company coming the thought and work that went into the inforwithin a few hundred dollars in sales of doumation they received as a client. Graff added, bling the best year the original owner ever had. “It is always a pleasure to work with these young The company continued to grow through 2011 people and we are always amazed when they and Graff said “they are working their tails off.” uncover an idea that had never occurred to us and makes sense to try.” Merco Products once again signed on to work with MGMT 463 students for the 2011 fall These consulting courses provide win-win semester for further consultation. They wanted opportunities with students gaining real-world to focus on their advertising/marketing efforts experience with a variety of businesses—for as well as a business plan, which they previprofit and nonprofit—and local and state-wide ously did not have. businesses receiving valuable research and recommendations. Three more students (Katie Michunovich, Michael Connelly and Steve Moodie) were For more information regarding the CoB assigned to the company and they worked on consulting courses, please contact Gary Bishop, addressing Merco’s advertising and marketing gbishop@montana.edu or 406-994-7017.

The Graffs (right) with their fall 2011 consulting team and Gary Bishop (left).

IT I S A LWAYS A PL E A S U R E TO WO R K W ITH T H E S E YO U N G PE O PL E A N D W E A R E A LWAYS A M AZ E D W H E N T H E Y U N C OV E R A N I D E A TH AT HAD NEVER O C C U R R E D TO US AND MAKES S E N S E TO TRY.” LYL E GR AF F

54 COMMUNITY INVOLVEMENT

More Montana High Schools ATTENDING FALL ENTREPRENEUR DAY For the second year in a row, Montana State University (MSU)’s College of Business (CoB) hosted its Entrepreneur Day in the fall for large numbers of Montana high school students and teachers. Nine high schools, totaling more than 150 students, and teachers from around the state, were in attendance. The 8th annual Entrepreneur Day took place on Wednesday, October 26 in the Strand Union Building on the MSU campus. This event engages high school students across the state interested in entrepreneurship and the field of business.

Students from Augusta, Big Timber, Bozeman, Great Falls, Helena, Livingston, Missoula, Reed Point and Ryegate participated in an interactive workshop where they worked together to develop unique sustainable entrepreneurial endeavors based in Montana. The students then gave an elevator pitch to a group of current CoB entrepreneur program students who judged them on the criteria given in the workshop assignment. Winners were announced and prizes awarded. The business teachers and advisors believe the workshop was a great way to move students out of their comfort zone by meeting other Montana high school students and working together on a project. Sheri Campbell, with Sweet Grass County High School in Livingston, said, “My students really enjoyed the business portion of the morning and they thought the MSU students were extremely helpful [with the workshop]. What a great way for students to use the knowledge that they are learning in high school!” After lunch, Ian Davis, of Yellow Dog Fly Fishing Adventures, spoke about doing business in the travel industry. His keynote presentation was open to the public. Davis gave a brief overview of his business, discussed the finer details of running a small business in Montana, especially one in the travel and fly fishing industries, and his overall business strategy. Throughout the presentation, Davis stressed the importance of being passionate about your job, saying it is critical to the success of any entrepreneurial endeavor. He discussed key strategies for his business, but reminded the audience the strategies hold true for all business, even a high school student’s lawn care business. Other keys to his business’ success were to under-promise and over-deliver and developing key relationships with business partners–in his case–local guides. With any business endeavor, it is important to know everything about your business. In Davis’ case, Yellow Dog employees have been to their destination locations, developed relationships with all the people involved with that location, and they pay attention to details. Davis and crew take

Amanda Murphy, helps the high school students during Entrepreneur Day.

photos of all their destinations, even the bathrooms. “We only sell what we know!” Davis emphasized.

for an outstanding educational experience for students. This event was sponsored in part by Boeing.

On top of knowing their product inside and out, Yellow Dog puts together pre-planning guides and tries to educate and prepare their customers so they have a better understanding about their trip and what to expect. Davis went over his marketing strategies: He has found it’s important to utilize the Web and social media and promote a business memorably. The presentation concluded with a question and answer session.

Students from any major at MSU can take entrepreneurship coursework through the CoB’s 30 credit-hour Entrepreneurship and Small Business Management minor.

Entrepreneur Day reflects the CoB’s and the Alderson Program in Entrepreneurship’s commitment to improve Montana’s economic development, while providing a framework

Below: Keynote speaker, Ian Davis of Yellow Dog Fly Fishing Adventures, speaking to the students.

For more information about the MSU College of Business Entrepreneur Day, please contact Audrey Lee at 406-994-7026 or audrey.lee@montana.edu.

SPECIAL THANKS TO OUR SPONSOR: BOEI NG

56 COMMUNITY INVOLVEMENT

More than 230 Students Attend COB MEET THE RECRUITERS FAIRS In addition to academically and professionally preparing College of Business (CoB) students, the Bracken Center for Excellence in Undergraduate Business Education hosts two Meet the Recruiters fairs–one for all business majors and one for accounting majors. Meet the Accounting Recruiters Fair was September 15 and Meet the Recruiters Fair was October 5, both located at the Stadium Club over-looking the Montana State University (MSU) football field. The Meet the Recruiters Fair was co-sponsored by the MSU Career, Internship & Student Employment Services and the accounting event was co-sponsored by the Eta Chi Chapter of Beta Alpha Psi. JCCS

Boeing

Edward Jones

In order to present the best opportunity for students, the CoB worked with local and national businesses to provide as many opportunities for jobs or internships as possible. About 45 businesses were represented between the two events. Every year, the CoB is excited to see more and more graduates returning to the fairs as recruiters for their companies or firms. This year’s recruiters included Boeing, Classic Ink, Edward Jones, Enterprise Rent-a-Car, Federal Deposit Insurance Corporation (FDIC), H&R Block, Kiewit Pacific Co., Kraft Foods, Naval Undersea Warfare Center, Northwestern Mutual Financial Network, PrintingForLess.com, Profitable Ideas, Promotions West, RightNow Technologies, State Farm Insurance Corporate, Target and Zoot Enterprises, to name a few.

The Meet the Accounting Recruiters Fair included “big three” accounting firms Deloitte and PriceWaterhouseCoopers, as well as local, regional and national firms such as Altman, Rogers & Co.; Anderson ZurMuehlen & Co.; Clark Nuber; Eide Bailly, LLP; Elgee Rehfeld Mertz, LLP; Galusha, Higgins & Galusha PC; the Idaho National Laboratory; Battelle Energy Alliance; Junkermeier, Campanella, Clark, Stevens, P.C. (JCCS); KPMG; McGee, Hearn & Paiz; Moss Adams LLP; Rudd & Co. and Walsh, Kelliher & Sharp. This event provided students and recruiters an informal setting to meet and mingle. Students came prepared with resumes and professional attitudes, while recruiters tried to find students who could fill internship or career openings with their business. CoB students found the experience rewarding, both in securing interviews for jobs and internships, as well as a good learning experience. Linda Ward, assistant director of the Bracken Center was very pleased with the turnout for students and recruiters. She said, “Despite the press on the state of the economy, students were presented with a variety of jobs and internship opportunities. Recruiters commented on the professional appearance and demeanor of business students attending the events.” For more information about the MSU CoB Meet the Recruiters Fair or Meet the Accounting Recruiters Fair, please contact Linda Ward at 406-994-1995 or lward@montana.edu.

10th Annual Golf Tournament SUPPORTS STUDENTS College of Business (CoB) alumni, friends and faculty attended this year’s Classic Open Benefit Golf Tournament on Friday, September 23 at the Riverside Country Club, in Bozeman. The tournament began with a shotgun start at 12:30 p.m. There were many unique ways to support students at this year’s tournament. The Montana State University (MSU) golf team hit drives for a fundraiser. Players could pay for a member of the golf team to hit their drive on that hole and the new MSU Sports Marketing Club manned the Betting Hole with the club receiving half of the monies made. Silent auction packages were bid on throughout the tournament, with those profits specifically going towards the Friends of the Classic Open Golf Tournament scholarship. Scholarships raised from this tournament will be awarded at the spring 2012 scholarship banquet. Last year’s recipients were Gargi Jagtap and Brooke Seagars. This year, the winning team—Willie Schlaebitz, Graver Johnson, Neil Thomas and Paul Pahut—sponsored by Mountain West Bank,

edged out the second place team by one point. They were awarded the prestigious traveling crystal trophy and had their names etched on the base. Players also had opportunities to win prizes for longest drive, closest to the pin and a Hole-in-One.

SPECIAL THANKS TO OUR MAIN SPONSORS: RUDD & COM PANY RI GHTNOW TECHNOLOGIES

A big success, the tournament’s proceeds go towards CoB student scholarships and student programs. It is with the support of our event sponsors, players and silent auction donors that the CoB is able to continue providing excellent business education. A complete listing of all donors to the Golf Tournament and other CoB activities can be found in the Honor Roll of Donors located in the back of this report. The next tournament is tentatively scheduled for Friday, September 21, 2012. Please contact Audrey Lee at audrey.lee@montana.edu or 406994-7026 for more information or see the CoB Website at www.montana.edu/cob.

Overall 3rd place team enjoying the day

RESULTS Gross 1st Place: Graver Johnson, Paul Pahut, Willie Schlaebitz and Neil Thomas (Mountain West Bank) Gross 2nd Place: Jody Eames, Scott Eide, Eric Murphy and Adam Wrightson (Dotty’s) Gross 3rd Place: Kasey Harte, Chris Mattson, Tyler Wantaluk and Brandon Van Cleeve (Jackpot Casino) Net 1st Place: Phil Bailey, Jim Brinkman, Paula Johnson and Heather Walstad (Anderson ZurMuehlen) Net 2nd Place: Ian Davis, Bryan Klein, Sid Miner and Jackie Sather Net 3rd Place: Scott Molzahn, Jim Monteleone, Russ Nelson and Kent Porter (First Security Bank) Longest Drive (Men 0-20): Eric Murphy Longest Drive (Men 21+): Josh Miller Longest Drive (Women 25+): Paula Johnson

Wells Fargo sponsored team at the Betting Hole with students from the MSU Sports Marketing Club

Cassidy Seymour, CoB alumna, volunteering at the registration table

Closest to the Pin (Men): Tyler Wantulok Closest to the Pin (Women): Julie Kostelecky

58 COMMUNITY INVOLVEMENT

Students Continue to Volunteer IN ALASKA OVER SPRING BREAK A program inaugurated in 2008, sends student volunteers to Alaska (AK) during spring break to assist with tax returns in remote villages. This year, four accounting students made the trek. Matt Heberling, Daniel Jensen, Mariko Shimada and Rebecca Thissell participated in the 2011 Volunteer Income Tax Assistance (VITA) program in AK. The program, established through the Internal Revenue Service (IRS), assists people who find it difficult to pay for tax preparation services.

VITA volunteers: Dan Jensen and Rebecca Thissell and Alaskan guide in the Bethel airport

In a Cessna 207, on the way out to Tuntutliak

All four students began their journey with training and orientation in Anchorage, before splitting up and traveling to different regions of the state. They have to be trained in tax laws specific to AK before heading out to the villages. Shimada and Heberling, along with a supervisor visited Barrow, Kaktovik, Noiqsut and Atqasuk, all in the northern part of the state. Barrow is the most northern incorporated city in North America. All the villages these students visited are very remote and roughly 90% of the villagers are native and speak a first language other than English. Shimada said that the tax return process in these places where quite a bit different than the ones they were familiar with through the VITA program in Bozeman. “The people in these places were

very friendly and nice,” she added. Around 90 returns were prepared by Shimada and Heberling in these villages. The other two students, Jensen and Thissell went to Tuntutliak, Nightmute and Eek, where they worked with mostly native Yupik Alaskans in the western part of the state. Jensen said that they spent two days in each village before traveling to the next destination, using Bethel as a hub. “It was an amazing experience, both culturally and scenically.” Thissell agreed with this sentiment: “Thank you again for this amazing experience.” Jensen and Thissell had completed 150 returns by the end of the trip. After a week of preparing taxes in AK, the students gained valuable tax preparation experience, learned about another culture and were able to help many villagers and their families get their tax returns filed. Six more accounting students—Amanda Caldwell, Arianna Haines, Jodie Kunesh, Tom Langmo, Rajeev Modi and Cullen Mullany are slated to travel to AK for the VITA program in spring 2012. For more information about the VITA program, please see our website: http:// www.montana.edu/cob/Accounting/vita.html.

Volunteers are shuttled to the airplane via snowmobile in Tuntutliak Mariko Shimada, Matt Heberling and client in Noiqsut

Dan Jensen and Rebecca Thissell preparing taxes in Eek

Preparing taxes in Tuntutliak

This group made stickers to raise funds

Entreprentice Assignment Gives Students FIRST-HAND ENTREPRENEURIAL EXPERIENCE Last fall Brent Rosso, College of Business (CoB) management assistant professor, charged his entrepreneurship students with The Entreprentice Challenge: to start, run and make money from a business with only $25 to $50 in start-up capital during their first three weeks of class. Rosso randomly selected teams of five members each, and put up $25 in seed money for each group, to start the challenge. Students had the option to match the initial investment with an additional $25. “I wanted to provide an opportunity for students to have an entrepreneurial experience right at the start of the course that offered a quick, micro-scale approximation of the joys, challenges and frustrations inherent in the entrepreneurial process,” said Rosso. “The aggressive, three-week period for this challenge was intended to instill a sense of urgency and stimulate their creativity. It also required them to ‘bootstrap’ their resources, which provided a pretty low-risk opportunity for students to exercise and learn from their entrepreneurial instincts.” Students could launch any type of business they chose, as long as the business was legal, ethical and conformed to Montana State University (MSU) and CoB guidelines. Student groups were required to pay back the initial $25 investment at the end of the challenge and to donate 20 percent of their profits to a local non-profit organization selected by the entire class. Teams came up with a variety of creative businesses—from selling parking spaces to

Bobcat football fans, creating MSU sportsthemed items to sell such as T-shirts, bumper stickers and Styrofoam Bobcat heads on a stick, to offering Hugs for Donations in downtown Bozeman on a weekend night. One team that experienced phenomenal success in the Entreprentice used a member’s contacts to partner with Town & Country Foods (T&C) to sell parking spaces to football fans on two consecutive Saturdays. Their first weekend selling spaces—during the first home football game of the season—the team raised more than $500 for three hours’ work. “We provided signage and team members were stationed on-site to direct drivers to spaces and collect money,” said Greg Castle, T&C parking team member. “We were stunned by the amount of money we raised, with such a simple idea, and were surprised it hadn’t been done before.” Overall, for two Saturdays’ work, the T&C team raised $1,127.70 in profits, with only $11.30 in expenses. Many parking patrons donated more than $10 for their parking spaces, as team members told them the money was going to Eagle Mount, a local non-profit that provides therapeutic recreation for people with disabilities and children with cancer.

This group sold blue and gold beads

The T&C team agreed to donate all their profits to Eagle Mount, not just the 20 percent required by Rosso, and most of their classmates followed suit. Continued on page 61. This group made stickers, as well, to raise funds

Seven Businesses Win 2011 MONTANA FAMILY BUSINESS AWARDS Each year, the College of Business (CoB)’s Montana State University State Farm Insurance Family Business Day honors family businesses from across the state for their hard work and dedication, community involvement and contributions to their industry. This year, the awards luncheon took place on Friday, October 7, at the Holiday Inn in Bozeman.

Jim Paffhausen, State Farm Insurance, presents an award to Headwaters Seat Covers, LLC

EXCITING NEWS FOR FAMILY BUSINESS ON THE ROAD The Family Business Program has two new faces at the helm. Craig Ehlert has stepped up as the coordinator for the Montana State University (MSU) College of Business (CoB) State Farm Insurance Family Business Program. Ehlert takes over for Nancy Dodd, who retired this year after running the program for many years. Phyllis Johnson, a new addition to the CoB, is the new program assistant. In order to better serve our university’s Land Grant mission and the family and small businesses across the state, we will be visiting 11 cities for our 2012 ‘On the Road’ series. Starting with Business Days at the Capitol in Helena, the program will also visit: Lewistown, Billings, Miles City, Glasgow, Havre, Great Falls, Kalispell, Missoula, Butte and Bozeman. The dates and topic information are still to be determined. For more information please, contact us at familybusiness@ montana.edu.

In its 18th year, this event has honored more than 100 family businesses ranging in size from fewer than 10 employees to more than 50, in all types of industries. This year’s winners were: · F rieling Ag Equipment of Great Falls Very small business category (fewer than 10 employees) · D on Aadsen Ford of Ronan Small business category (10 to 30 employees) · S tevenson & Sons Funeral Home of Miles City Medium business category (30 to 50 employees) · B illion Auto Group of Bozeman Large business category (more than 50 employees) · H arrington’s Bottling Company of Bozeman Old business category (in business more than 50 years) · M ontana Monster Munchies, LLC of Bozeman New business category (in business less than 10 years)

with his brother George, built and operated 100 movie theaters, 45 no-name small food court restaurants, a medical transcription business, an office building in their hometown of Wayzata, MN, a shopping center in Duluth, MN and 80 Arby’s restaurants. Over the years, Carisch has worn many hats in the company including janitor, president, chairman of the board and CEO. “Along the way, we had many successes and failures,” he said. “I would like to share some of these successes and failures with you and pass on some simple rules that we follow today.” Carisch presented the audience with seven lessons he has learned as a business owner: acquire financial knowledge as early as you can in your career; have a business plan and work it; know your market; invest in good land [property]— there is no substitute for good land; there is nothing better than a good brand; stay in the U.S. and don’t be afraid to sell [your business]—it may be the best thing to do. Carisch talked about how he learned these lessons: When he opened no-name food courts in malls, the landlords cancelled the leases because they wanted businesses with brand power. Expanding internationally, purchasing the struggling Canadian Arby’s, Carisch finally had to sell the business when mad cow disease prompted the U.S. to close the border to Canadian beef. Then Carisch had the misfortune of an e-coli breakout in Washington, prompting Canada to close the border to U.S. beef. These anecdotes and others were used with his seven lesson points. Carisch emphasized that the lessons learned from these experiences ultimately helped him and his brother succeed.

· H eadwaters Seat Covers of Three Forks Special recognition category Winners were chosen based on their commitment to customer service, family values and their adaptability to an ever-changing business environment. Gerald Carisch, CEO of Carisch, Inc., was this year’s luncheon keynote speaker. Gerald, along Winners, Frieling’s Agricultural Equipment

COMMUNITY INVOLVEMENT

The Family Business Day luncheon brought participating families together to celebrate their achievements, including past winners from Ronan. Participants learned from each other and shared advice. Multiple generations and many MSU alumni attended the luncheon. The CoB and State Farm Insurance, in honor of Robert Jaedicke, hosted the program. Stockman Bank underwrote the awards, with ad-

Winners, Don Aadsen Ford of Ronan

ditional support from the Montana Chamber of Commerce. For more information on the Family Business Day program, go to http:// www.montana.edu/wwwdb/FamilyBusiness/ FamilyBusiness.html or contact Phyllis Johnson at 406-994-6796 or familybusiness@montana.edu.

SPECIAL THANKS TO OUR SPONSORS Major Sponsor State Farm Insurance Awards Underwriter Stockman Bank Supporter Montana Chamber of Commerce

Keynote speaker Gerald Carisch

Entreprentice Assignment cont. Continued from page 59. “The students really rose to the challenge,” explained Rosso. “I was impressed with the ingenuity and resilience the students demonstrated, even in the face of considerable obstacles and limited resources. The groups came up with some really creative business ideas, and did an excellent job leveraging the skills, experiences and resources at their disposal to bolster their success. I think they surprised themselves with how much they were able to accomplish with so little time and money.” Both classes raised a combined total of $2,690.45, and a majority of the groups volunteered to give all their profits to charity. Students presented a total of $1,907.95 in charitable donations to representatives of Eagle Mount and Heart of the Valley Animal Shelter, during class presentations. “I was impressed with the variety of projects and with the students’ professionalism in presenting the ideas they had generated,” said Mary Peterson, executive director of Eagle

Mount. “Their profit-making strategies worked out brilliantly.” This experience has led a handful of teams to continue pursuing the businesses they launched through the Entreprentice. The T&C team’s success in selling parking spaces inspired the owners of T&C to offer this opportunity to other non-profit groups, as fall fundraisers. And local ski shops are still selling another team’s custom stickers.

Presenting the donation to Mary Peterson, executive director of Eagle Mount

“After competing in The Entreprentice, I realized that recognizing a need is the complicated part, not starting a business,” said Castle. “It took our entire team, working together, to make this idea a success.” Rosso plans to continue the exercise in his entrepreneurship classes next fall, but may add new dynamics to the challenge. Those students will face the same obstacles—mobilizing resources with limited budgets and severe time constraints—and will get a taste of the complex dynamics of start-up entrepreneurship, from the ground up. One of the student teams with their product foam Bobcat heads

62 COMMUNITY INVOLVEMENT

Out of the Classroom, INTO THE COMMUNITY By TERRY BEAUBOIS (original article printed in the Bozeman Daily Chronicle)

One example of how Montana State University (MSU) is working with the Bozeman community on the issue of sustainable living is through the College of Business (CoB) in Martha Joh Reeder-Kearn’s Sustainable Business Practices class.

Armed with this information, the students undertook projects in the Bozeman community with local “mentors.” The projects were designed to take classroom theory and translate it into real world applications.

Heather Higinbotham, the sustainability proThis class is inspired by and expands upon grams manager with the Yellowstone Business work done with the college’s Jake Jabs Center Partnership was the project liaison for the class for Entrepreneurship with the center’s direccoordination with the Bozeman community tor, Scott Bryant and Gary Bishop, director of project participants. student research services with the center, and PROJECT ONE: MONTANA STATE UNIVERSITY is a sign of the interdisciplinary collaborative E.J. Hook, environmental services manager for work developing at MSU. The students are MSU and Gretchen Hooker, the director of from a variety of majors including business, enthe ASMSU Sustainability Center presented a gineering, architecture, public administration “Recycling vs. Landfill” project to estimate the and MSU’s Sustainable Food & Bio-energy true costs of current practices and increased reSystems program. cycling. A goal was to increase recycling while Martha Joh’s class had guests in the classroom reducing landfill. Students work with MSU to in September that included: analyze available data, develop strategies and a call to action, and develop a value accounting –Paul Gannon, an assistant professor in the De- approach for MSU. partment of Chemical and Biological Engineering, who addressed the class about the science PROJECT TWO: THE CITY OF BOZEMAN of environmental issues related to sustainable Natalie Meyers, the climate protection coordiliving and sustainable business practices. nator for the city mentored students working on reducing energy use in Bozeman and the –Perry W. Solheim, assistant professor of acsurrounding area—including personal, busicounting, who is interested in the relationships nesses, the university and government. One between a company’s environmental perforproject focus was to identify reasonable goals, mance and reporting, and its operational and identify ways to stimulate/encourage commumarket performance. nity participation—reduce energy usage, and develop a call to action. PROJECT THREE: REFUGE Alexa Calio is owner of Refuge Sustainable Building Center and Mike Lynch acted as Refuge’s project mentor to the class. Refuge features sustainably manufactured products and materials for builders, homeowners, and architects. This project measured Refuge’s impact on sustainable consumer decisionmaking and identify ways to be more effective. The ultimate goal is to quantify a change in Refuge’s current approach that will be justified by increased business. PROJECT FOUR: THE GARAGE RESTAURANT Pete Strom is the owner/manager of The Garage restaurant in Bozeman. This project reviewed the internal assessments that The Students climb Moffitt Gulch to view the natural and built environment

Pack horses going up to the top of Moffitt Gulch

Students journal about what they are observing

Garage had made as part of their participation in YBPâ&#x20AC;&#x2122;s Uncommon Sense program and created additional perspective on opportunities and how to proceed. It included a cost/benefit analysis of the restaurantâ&#x20AC;&#x2122;s decision to use only natural, local, grass-fed beef, and forecast long-term outcomes of this decision, as well as community benefits. The interaction in the classroom has demonstrated the benefit of interdisciplinary groups, as the restaurant mentor asked MSU mentors what their plans for composting were, and if there would be opportunities for Bozeman community members to learn and participate in the future. MSU reports they are working with MSU food services, ag, and others to coordinate on that very issue. In all of these projects, the students developed an understanding of real businesses and report on their projects for their finals. Terry Beaubois is the Director of the Creative Research Lab, in the College of Arts & Architecture, at MSU-Bozeman. For more information about the sustainable practices course, please contact mjreeder@montana.edu.

Students sharing their observations from their trip

Alumni & FRIENDS

College of Business Clubs HUMAN RESOURCES MANAGEMENT CLUB FINANCE CLUB ADVISOR: MIKE SHAW mshaw@montana.edu

ADVISOR: GARY CATON gary.caton@montana.edu

MARKETING CLUB

STUDENTS IN FREE ENTERPRISE (SIFE) ADVISOR: GARY BISHOP gbishop@montana.edu

ACCOUNTING CLUB/ BETA ALPHA PSI

ADVISOR: OMAR SHEHRYAR omar@montana.edu

INTERNATIONAL BUSINESS CLUB

ADVISOR: PERRY SOLHEIM perry.solheim@montana.edu

ADVISOR: MYLEEN LEARY myleen.leary@montana.edu

66 ALUMNI AND FRIENDS

Continue to Create SOMETHING EXTRAORDINARY Simply stated, thank you. Thank you to our students, our faculty and staff. Thank you to our donors, friends and alumni. Thank you to our volunteers and others who have stepped forward and made a difference to our students and the Montana State University (MSU) College of Business (CoB). You are the reason we can achieve significant goals. As you will read in this Annual Report, MSU and the CoB had yet another transformational year. Student numbers across campus hit record highs. Our student clubs competed and won top awards in business competitions and training. Our faculty continue to motivate and teach our students and are known by their colleagues across the nation as mentors and respected experts in their fields of study. The CoB has proven itself to be the place that businesses and corporations can come to seek the brightest business students and future employees. President Waded Cruzado’s leadership and enthusiasm continues to give new energy across campus—truly inspiring many of us. She has one particular saying that sums up the past year of success: “It is a great time to be a Bobcat!” I agree. But we must continue to look ahead and plan for even a better future. So where do we go from here? As you may have heard, and will read more about in this report, MSU alumnus Jake Jabs (’52, Agriculture) has followed up his original gift of $3 million for the entrepreneurship center with a $25 million gift to the CoB. In the near future, we will seek state approval to build a new, student-centered CoB building. In addition, we will begin planning for new academic programs and student services to complement and enhance our current programs. Jake gave us the foundation and means to dream and to create a significant change for the CoB. We are on an incredible journey. This is where you can make the difference. Now more than ever, your financial gift is important. As we build a new home for the college, perhaps your gift to the CoB will allow us to create new study areas and social settings or innovative teaching labs and classrooms. Your gift may offer an opportunity for more students to participate in activities, maintain scholarships or further develop programs that enhance our students’ business knowledge and professional skills. Your gift may help recruit or retain the best faculty. For those wishing to leave a legacy or honor a loved one, we provide gift naming opportunities. We also offer opportunities to donate through the Annual Fund. Our planned giving options, which not only can help you plan your estate, also allow for future planning for the CoB. As a reminder to Montana residents, through 2013 you can take advantage of the Montana Endowment Tax Credit. No matter the option, each gift will offer you tax incentives and the knowledge that you are making a difference and are part of something truly significant. The CoB has a need for major gifts. However, there is no such thing as a small gift, as collectively, each makes a difference. We can help guide you to what is best for you and your vision, along with providing options that match your giving ability through annual gifts or pledge options and opportunities that may create tax incentives for you or your business. Together we will continue to create something extraordinary! Jackie Sather, Director of Development for the CoB 406-994-6766 jather@montana.edu

Board Member: SHAVON CAPE Degree Option: B achelor of Science in Business with a marketing option Year:

1993

Business: Old Chicago and Hilton Garden Inn Title:

Partner

How long have you been on the College of Business (CoB) National Advisory Board? I joined the CoB National Advisory Board in 2006. Please describe your career path after graduation. After I graduated from MSU, I joined D.A. Davidson and took my Series 7. I worked in a team environment with experienced brokers where I was able to learn a great deal about the business. In 1998, my husband Don and I moved to Denver. I continued working in the securities industry for Wachovia Securities where I had the opportunity to manage one of the largest personal investment accounts held by the firm as well as doing institutional trading. In 2003, we had the opportunity to purchase the Old Chicago franchise rights for Montana, Northern Idaho and Eastern Washington. We knew that this would be a challenging but very rewarding business adventure and were very much looking forward to moving back to Bozeman. In June of 2004, we opened the Old Chicago in Bozeman, MT. In 2005, we were presented with the opportunity to develop Hilton Garden Inn hotels. We knew that the two businesses would complement one another well. We opened the Bozeman Hilton Garden Inn in 2005, the Billings Old Chicago in 2006 and the Billings Hilton Garden Inn in 2008. We have also co-developed the Stoneridge Square Shopping Center in Bozeman and founded the Grubb & Ellis commercial real estate brokerages in Bozeman and Kalispell, but sold that company in 2009. We are currently looking again at expansion with future hotel developments. What is your typical day like? I do not really have a “typical” day. Each day for me is very different—which is one thing that I really enjoy about owning our own businesses. Most of my time is spent on the marketing of the various properties and businesses, as well as managing our various avenues of community involvement. Most importantly, I have found the opportunity to be engaged with my children’s schools

and very much enjoy my responsibilities as a mother. We are the proud parents of Hannah (12) and Carter (10). What is the best part of your job? The most challenging? The most rewarding aspect of my job is fostering a flat, team oriented culture and watching the success it creates. We have held a firm commitment in employee empowerment as we believe that if you hire the right people, they need the latitude to make the right decisions. The most challenging aspect of my job is balancing the various demands each business has while still staying engaged with my family. How did your education at the CoB help you in your career? I think that having a business degree has been very beneficial to me in owning our own businesses. I do not believe that I would have been able to take on these opportunities without my degree. Every day, I have built on what I originally learned at MSU. Does any class or professor stand out? Norm Millikin and Mike Reilly stand out as my influential professors while at MSU. Norm and Mike both did an excellent job of putting students into real-world case studies utilizing local businesses and business leaders. This gave us the opportunity to evaluate text-book material against real world business situations. Describe your fondest CoB memory. Mike Owen hosted the Finance Club on a trip to Denver. Mike was the founder of the Berger Funds and had a wealth of great business contacts in that community. He was able to introduce the group to a variety of business leaders who were gracious enough to share their business models with us. It was a very unique opportunity for the entire group. What advice do you have for people on following their dreams? Take chances knowing that you may not always be successful the first try. Trust your intuition when necessary and try to back it up with rational and objective benchmarks.

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CoB Alumnus Honored with BLUE & GOLD AWARD DURING HOMECOMING Each year, the Montanan State University (MSU) Alumni Association honors MSU graduates during Homecoming at the President’s Luncheon with its highest awards, the Blue & Gold Award and the Alumni Achievement Award. Bill (’56) and Jean (Painter) (’57) Bradford of Billings are the recipients of the Blue & Gold Award, along with fellow MSU alumni Dr. Bill (’52) and Marj (Johnston) (’56) Hunt of Bozeman. The Bradfords’ lives have always been about serving others—both professionally and personally. Billings and the State of Montana have reaped the rewards of such dedicated citizens. Bill spent the majority of his business career working for government agencies and Jean worked for two non-profits. Their volunteer time included work with the Boy Scouts, DeMolay, Scottish Rite-Masonic organization, Yellowstone County Council on Aging, Billings Chamber of Commerce, American Heart Association, Junior League, Rocky Mountain College Institute for Peace Studies, Job Connections Inc., and St Luke’s Episcopal Church. In additional to all their local volunteer efforts, they have also made time to enthusiastically support their alma mater—MSU. Bill served on a Greek advisory committee and is

Bill and Jean Bradford

a member of the Quarterback Club. Jean served on the President’s Advisory Council for three separate university presidents and also served on the Statewide Advisory Board for MSU Athletics. Their financial support also spans campus wide. They are the ultimate sports fans and recruiters for MSU. Both of their children graduated from MSU and this fall, the legacy continues, as both of their out-of-state granddaughters will attend MSU. The Blue & Gold Award is the most prestigious award granted by the MSU Alumni Association. It honors those who have rendered lifetime service or who have brought national or international distinction to MSU or to the state of Montana. Candidates must have achieved prominence through service to one or a combination of: profession, family, country, world, university, philanthropy or humanity. Recipients of the Blue & Gold Award are recommended by the MSU Alumni Association Board of Directors to the president of the university. For more information about future Homecoming events or the Alumni Award, please see the MSU Alumni Association website: www.alumni.montana.edu/events/homecoming.

Board Member: SCOTT PETERSON offset by constant budget management. Conducting internal team audits on a project’s time and financial components are the constant tasks in my day-to-day activities. In addition, continually reviewing proposals and executing contracts is necessary to ensure and maintain a future workflow for project activities. On top of the day-to-day business tasks, trying to establish a network of professionals within the industry, as well as securing additional projects to maintain a backlog of work, are additional tasks throughout my day. What is the best part of your job? The most challenging? I manage and run a satellite office in the Lake Tahoe, CA region and our corporate office is located in Phoenix, AZ. There is tremendous freedom in the opportunity to establish and start a new division for a company. However, the challenges of penetrating a new market and establishing a reputation are demanding. How did your education at the CoB help you in your career?

Degree Option: Business Management, Minor— Small Business Entrepreneurship Year:

Business: Title:

2006

The special projects that were required as a part of the CoB curriculum allowed for creativity, in addition to providing the fundamentals of business. Being able to execute a new idea for a product or service to benefit your employer’s overall strategy is essential to success.

Linthicum Corporation

Does any class or professor stand out?

Project Manager

The classes associated with the Entrepreneurship program provided real business partnerships between student groups and local businesses. An actual consulting class in place of a textbook learning style was what really stood out as a real-life application.

How long have you been on the College of Business (CoB) National Advisory Board? I have been a board member since 2009. How did you get started at your current job? Constant networking with past and current business partners, as well as other contacts, resulted in an interview with my current company. At the time they were working on a large project in the Hawaiian Islands, so being young and mobile allowed me to pursue the opportunity. What is your typical day like? The project I am currently involved with is unique in that my company manages the development side, construction activities and represents the owner’s interest. The balance between maintaining a schedule and successfully completing milestones is always

Describe your fondest CoB memory. Being a member of the MSU Marketing Club; in my senior year, we raised enough revenue to take a trip to Phoenix, AZ and meet with companies, as well as tour facilities. It opened my mind to how the real business world operates. What advice do you have for people on following their dreams? Seek employment with companies that believe in, support and create an environment for young professionals. A company that values youth provides more opportunities at the start of a recent college graduate’s career.

70 ALUMNI AND FRIENDS

Unique Partnership Brings Together TOWN AND GOWN AT WOMEN’S CONFERENCE This year, the MSU College of Business (CoB) Women’s Circle of Excellence (WCOE) partnered with the Prospera Montana Women’s Business Center (WBC) to hold a joint conference called the W2: The Women to Women Conference, on Thursday, May 19, at the Best Western GranTree Inn in Bozeman. Like past conferences, the goal was to provide an event with mentoring and networking opportunities and inspirational and educational sessions. The one-day conference hosted dynamic speakers, educational breakout sessions and an inspirational keynote presentation. The keynote luncheon featured Janet Hopkins, VP of Customer Experience at REI (Recreational Equipment, Inc.). Her talk, “My REI Trek” took the audience through her career journey at REI, from retail management to VP of Customer Experience. She also gave insight into the company, a retailer of outdoor gear since 1938, which was started by a group of 23 mountain climbing friends and eventually evolved into the nation’s largest consumer cooperative. Hopkins really focused in on the customers and how “The business of REI is people.” She talked about how the company’s core purpose is that of inspiration, education, outfitting and stewardship. “REI provides the motivation to get outdoors, will teach you the basics of outdoor education through clinics and classes, while we sell the gear and clothing to make your experience memorable outdoors. REI is more than great gear. Through volunteerism, giving, responsible business practices and more, we connect people to the outdoors and help protect the natural places we love.”

dedicated to engaging volunteers in conserving local natural spaces. This theme of “the people” customer service and the experience versus the product was echoed throughout the conference by many of the speakers.

O’Berry, O’Berry Collaborative; Terry Profota, MSU CoB and Sage Consulting; Kathy Stark; Starky’s Authentic Americana and 20 marketing experts for the “Marketing Hot Seats.”

The event was a huge success and provided a supportive setting for participants to mentor and inspire each other, as well as network and participate in educational sessions that added both professional and personal enhancement. The conference was sponsored in part by RightNow Technologies and State Farm Insurance. For a complete list of sponsors, please check the Many topics were covered during the following website: http://www.montana. course of the conference including: “Proedu/cob/Alumni_and_Friends/Womenfessional Growth with Board Membership,” sCircle.html. “Developing a Competitive Advantage,” “Getting Your Financial House in Order,” For more information, please contact “Release Your Voice Within,” “Marketing Audrey Lee at audrey.lee@montana.edu or Hot Seats,” and “Developing a Stronger 406-994-7026. Business Model with E-Commerce Solutions” in the breakout sessions and the “Woman Entrepreneur of the Year Success Story” and “Overcoming Challenges: Surviving and Thriving Through Life’s SPECIAL THANKS TO OUR Obstacles” in the group sessions. Through the story of Hopkin’s career journey and her employer, the attendees were able to take away many stories of success and advice to apply towards their businesses or work environment, as well as professional development tips on what makes a leader.

SPONSORS:

Speakers included Robin Bequet, Bequet Confections; Julie Dennison, Printingforless.com; Kara Gallinger, Anderson ZurMuehlen; Ris Higgins, Leadership Outfitters; Tiffany Lach, Sola Café; Toni

Presenting Sponsors RIGHTNOW TECHNOLOGIES S TAT E F A R M I N S U R A N C E

For REI, Hopkins says that some key strategic differentiators were store atmosphere, employee passion and knowledge which leads to great customer service and giving back to communities, especially community based nonprofit organizations WCOE participants talking to one of many booth presenters at the conference

IN MEMORIAM:

Harvey Larson (1923-2011) Former CoB Dean The College of Business (CoB) is saddened to announce that Harvey Larson, former Montana State University (MSU) CoB dean and professor passed away this year and a memorial service was held at Hope Lutheran Church on October 22. In 1957, Larson came to MSU as an assistant professor teaching business courses, where he was soon tapped to head the School of Business. Under his guidance, enrollment grew from 200 to 1,600 business majors, and the school became a college. Under Larson’s leadership, an emphasis was placed on hiring faculty with Ph.Ds. and the School of Business Advisory Board was created. Larson retired as CoB dean in 1984. After retirement, Larson served two years with the MSU Foundation, obtaining support for MSU programs and student scholarships. Larson was present at many CoB scholarship banquets and was frequently a scholarship presenter.

Between military stints Larson returned to MN to resume his education, and he eventually earned three degrees, including a doctorate from the University of Minnesota. His long career as a teacher and administrator included positions as a high school teacher in Floodwood, MN, and as dean and then president of Dawson County Junior College in Glendive, MT.

Former CoB dean, Richard Semenik, remembers Larson fondly, “Harvey was a true gentleman and visionary. He set the College of Business on a path to the high reputation it now enjoys.”

Larson received special recognition and numerous awards such as the MSU Blue & Gold Award in 1988, the Chamber of Commerce Guy Sperry Award for Community Service in 1996, the Big Sky Retired Teachers 1997 Community Service Award. He could be depended upon to brighten any occasion with an appropriate joke or one-liner and was in demand as an emcee, high school commencement speaker, and tour guide or as a speaker or spokesperson as a president, board member, and administrator. He was a dedicated Bobcat fan, a proud American, and a devoted husband and father. The MSU and Bozeman community and the CoB will greatly miss Larson’s presence.

Born January 19, 1923, Larson was raised on the family farm near Barrett, MN. After starting college, his plans were altered by World War II. He left college and worked in an aircraft assembly plant where he was inspired to apply for selection in a naval aviation flight training program in 1942. His training and service as a Marine Corps flight instructor took him to bases around the country over the next four years. Larson married LaVille Henjum in 1945, six years after their first chance meeting in 1939. The two were married 66 years. Later, Larson was recalled for active Marine Corps duty during the Korean War where he piloted helicopters in an air/sea rescue unit based in Hawaii. He retired from the U.S. Marine Corps as a lieutenant-colonel.

Numerous professional and service organizations benefited from Larson’s leadership. He served as president for the following organizations: Rotary International, for which he also served as district governor; the Bozeman Chamber of Commerce; Bozeman Little League; the Sons of Norway and the Campus Christian Center Corporation. Larson also volunteered his time with the Hope Lutheran Church Men’s Club; Senior Fellowship; the Bozeman Senior Social Center and many more organizations.

If you would like to contribute to the Harvey A. Larson Scholarship, please contact Jackie Sather, 406-994-6766 or jsather@montana.edu.

72 ALUMNI AND FRIENDS

Jake Lewendal: MAKING HIS MARK M Y M A R K E TI N G TR A I N I N G I N T H E CO L L E G E OF BUSINESS H E L PE D M E P U T THE BIG IDEAS IN MY H E A D D OW N O N PA PE R A N D TAU G H T M E H OW TO G O F O RWA R D A N D T U R N TH E S E I D E A S I N TO A R E A L IT Y. J A KE LE WE N DA L

It’s not often that a person has a clear vision of how his contribution could actually change society or the world. Jake Lewendal, who graduated from the College of Business (CoB) in May, 2011 with a marketing degree, is one of those people. Jake has been a part of his family’s business—Anders Lewendal Construction— since he was 12. His role back then was to sweep up the construction dust and debris on job sites—not exactly glamorous work, but it instilled a strong work ethic. Although Jake grew up around construction sites, he didn’t catch the building bug until his father promoted him to superintendent and handed over the completion of several construction projects, when Jake was 18 and a sophomore at MSU. “My parents took a month-long trip to Italy, and we had three condos to finish,” recalls Jake. “My dad put me in charge of making sure those condos were completed, which involved overseeing the scheduling of subs, paying attention to our quality control, and other site-specific details. After that experience, I was hooked.” Jake discovered that he was a natural fit for managing the processes and organization involved in construction, especially the human element. He excelled at scheduling the work, assigning workloads to the right people at the right time, and coordinating the entire construction effort to ensure a top-quality product. “I loved the experience of managing people and tasks to accomplish a goal,” explained Jake. “I learned the importance of assigning the right tasks to the right people, and delegating effectively in order to make sure that each step in the process was completed properly, in the correct order, with full attention to detail to ensure high quality.” In 2008, as the building industry in Bozeman began to feel the effects of the economic downturn, Jake spearheaded a multi-unit project for Anders Lewendal Construction, where he served as superintendent in the building of 20 units in Northwest Bozeman. As the condos

neared completion, they actively marketed the project through a simple Website for prospective buyers—single professionals and young couples—to view the condos, and advertised with radio spots. This was the company’s first marketing venture. “That first marketing effort really helped us see the need for targeted marketing to attract buyers,” said Jake. “My marketing training in the College of Business helped me put the big ideas in my head down on paper and taught me how to go forward and turn these ideas into a reality.” The All American Home and Sustainability Anders Lewendal Construction recently completed The All American Home in Bozeman, in an effort to create jobs and increase awareness in the building industry of the impact American-made materials can have on the economy. Through an American-made database of products, any builder in the nation can join in supporting American jobs throughout the supply chain, by slightly altering their purchasing habits. “We’re encouraging builders to change their supply selections by reallocating 5% of their purchases to American-made building products,” explains Jake. “If every builder in the U.S. adopted this change, we could support or create 220,000 jobs without additional tax spending.” Jake was recently certified as a Green Professional through the National Association of Home Builders’ Green Council. With this additional training, he hopes to contribute to Anders Lewendal Construction’s continued efforts to use environmentally sustainable building practices and renewable energy sources in its homes. These building practices are designed to improve energy efficiency while saving home buyers’ money through energy savings, improving safety and health, adding comfort and increasing durability. Nearly 20 percent of energy pumped into the average American home is wasted, usually due to inefficiencies in the construction of the home, especially windows, doors, and insulation. Jake is committed to building homes that eliminate

this wasted energy and save homeowners money on heating and electricity bills over the life of their homes. “With improvements in energy efficiency, homeowners will realize real savings and a cleaner living environment,” said Jake. “In addition, these improvements spur new innovations in heating and ventilation systems which, in turn, make these features more affordable for builders and homeowners alike.” New Initiatives Anders Lewendal Construction is expanding its 5% reallocation model for builders to include all U.S. households, and if they are successful in getting this message across, the results could be staggering. For example, if all U.S. households, based on an average yearly income of $50,000, reallocated 5% of their spending in one year to American-made products, Americans would reinvest $150 billion in the U.S. economy, which would create three million jobs. “We really want to get the word out that by changing purchasing habits, Americans can have a huge impact on the economy and our overall job outlook,” said Jake. “Our country is number one in the world in manufacturing and produces 21% of the world’s products. By changing our purchasing habits slightly, we can have a dramatic impact.” Anders Lewendal Construction also plans to build a passive home in Bozeman. Passive construction relies on the home’s design, orientation, energy-efficient heating and ventilation systems and state-of-the-art insulation products to maximize its overall efficiency. “We are setting very stringent goals for ourselves, and will be able to test and implement these goals using rating systems that are in place to measure a building’s efficiency,” said Jake. “Through collaborations with experts in heating, ventilation, and insulation, along with architects and the resources at Montana State University, we hope to create a home that maximizes its energy savings while maintaining its cost effectiveness, bringing a safe and energy efficient home to the average American family.” Jake plans on expanding into other industries during his career, but will always be a part of the building industry, and continues to learn from the strong modeling provided by his father and the experiences and opportunities afforded him through the family business. His strong attention to detail at every step in the home building process will help ensure that Anders Lewendal Construction continues to provide highquality, sustainable homes for future generations.

74 ALUMNI AND FRIENDS

Rebirth of THE ROCKING R BAR By RACHEL HERGETT (original article printed in the Collegian magazine)

Shared history is not easily destroyed. Generations of Bozemanites, Montana State University students and alumni who have stopped in for a drink (or two) refer to the Rocking R Bar as the R Bar, or “our bar.” “It was the gathering and watering hole for all the kids,” owner Mike Hope, ’87 Bus, said. “I used to call it R Bar 101. It was a core curriculum class when I was a kid.” Then, a little more than two years ago, the bar was demolished in the downtown Bozeman natural gas explosion on March 5, 2009, which killed one person and reduced half of a city block to rubble. And while that could have been the end of a history that began in 1947, it’s just a new beginning for the downtown staple, and the start of a healing process for the community. “I don’t know that it’s just the bar that’s important,” Hope said. “It’s important to have the empty hole filled up.”

Mike Hope

The Rocking R Bar reopened July 26 in the new F&H building in downtown Bozeman, which will also house a new Sante Fe Reds restaurant. This present version is actually slightly east of the former location, occupying space that was once Montana Trails Gallery and part of Boodles restaurant.

IT WA S TH E G AT H E R I N G A N D WATE R I N G H O L E F O R A L L TH E K I D S. I U S E D TO CA L L IT R B A R 1 01 . IT WA S A CO R E CURRICULUM CLASS WHEN I WA S A K I D. MIK E H O P E

Hope said a conscious decision was made to keep the design and building of the three-story F&H Building as local as possible, in the spirit of community. In that endeavor, the project employed dozens of MSU grads. It was designed by Locati Architects, many of whom were trained at MSU—general contractor Tony Martel, ’84 Bus, of Martel Construction; Ronald Pike, ’87 Eng, president of Sime Construction, which excavated and constructed the drainage system; and Jeff Matzinger, EX ’92, of Matzinger Electric, which did the wiring. “You could probably go on and on,” Hope said. Hope said it’s impressive how intertwined the university was in the whole process, and that

it speaks volumes to the quality of the school itself. “It was not an easy building,” he said. Pike said the F&H construction was satisfying for him and many of his key people, who are also MSU graduates, mainly in construction engineering technology. “We like to hire local,” he said. The connection to the university, to other contractors and the shared history told on bar stools in the Rocking R made the construction project more than just a job. “It’s somewhat fun to give back to the community,” Pike said. The MSU connection goes deeper than just the architects and the builders. Hope said other MSU grads had a stake in the project as well, starting with former Bozeman commissioner Jeff Rupp, ’72 PolSci, and Bozeman Mayor Jeff Krauss, ’88 Bus, who helped navigate the approval process and reconstruction grants. “The whole community pulled together to help us,” Hope said. In the bar itself, at least 15 of 18 employees at the bar have graduated from or are attending MSU, according to Tony Kaber, ’05 Bus, who “started as a bouncer and is now running the bar.” “We try to help MSU students get through MSU,” Kaber said. Ties between the bar and the school remain strong. The Website, www.rockingrbar.com, designed by alumnus Ben Fjare, ’09 Art, sells Bobcat gear and proudly proclaims, “We have a touch of the old mixed with a lot of great new features, but we haven’t lost our love for the Montana State Bobcats.” Inside, a “Spirit” bronze from the Alumni Association is perched above the rear door. The bathrooms are decked out in blue and gold. Bobcat jerseys hang on the walls,

including those from two national championship teams—1976 and 1984. Then there’s the goalpost. Originally carried downtown in a crowd of people to the bar after the Nov. 19, 2005, 16-6 Bobcat victory over the rival University of Montana Grizzlies, the post survived the explosion and fire. Though it’s a little worse for wear, one can still see some of the signatures on the post, remnants of that game, the last game for senior quarterback and MSU hero Travis Lulay, ’06 Bus.

“You only live once, and when you die you’re gone,” Hope said. “But you can leave a bit of a legacy behind. That truck is a legacy.” The Rocking R has its own legacy, and it’s proven to be one of both continuity and renewal. “It’s part of the healing process for downtown Bozeman,” Hope said. “It gives us a sense of place down there and knowledge that we as a community can survive.”

The Rocking R’s latest addition is a ’53 Chevrolet pickup restored by alumnus Glen Cloninger, ’68 Arch, ’08 M, and painted a sparkling Bobcat blue and gold. According to Hope, the Cloninger family is filled with Bobcats. “His grandfather, his father, his wife and three kids all went to MSU,” Hope said. After Cloninger’s death last December, the family contacted Hope about holding onto the pickup, which now has Bobcat plates that say RBAR 87—Hope’s graduation year. The truck will be displayed in the bar during its Fifth Quarter celebrations after every Bobcat football home game this fall. Some of the many people who helped rebuild the popular local landmark

Top right: The MSU “Spirit” bronze displayed above the rear door of the new Rocking R. Above right: The goalpost from the Bobcats’ 2005 victory over the Griz survived the explosion and now holds a place of honor in the new bar.

Honor Roll OF DONORS

Individuals Every effort has been made to ensure that all names are listed correctly. This list represents donations given in 2011. If your name has been inadvertently omitted or misspelled, please contact Jackie Sather at 406-994-6766 or jsather@montana.edu.

A Mr. Jesse Aber III Mr. Travis Addington & Mrs. Linda SarverAddington Mr. Frank & Mrs. Bonnie Ahl Mr. James Ahrendes & Mrs. Vicki Thomas Mr. James & Mrs. Connie Alderson Mr. Kent & Mrs. Claudia Aldrich Mrs. Jenifer & Mr. Bill Alger Mr. Michael Altringer Mr. Tim & Mrs. Stacey Alzheimer Mr. John & Mrs. Angela Ammann Mr. Jeff & Leiauna Anderson Mr. Ronald Anderson Mrs. Erika & Mr. Jason Armistead Mr. James Aronow Mr. Ronald & Mrs. Celeste Askin Mr. Tory Atkins & Mrs. Torrian Dean-Atkins Mr. Daniel & Mrs. Dana Aughney Mrs. Ruth & Mr. William Ausmus Mr. Timothy Averett

B Mr. Ralph Bachmeier Mr. Mark & Mrs. Anne Bacigalupo Mr. Philip & Mrs. Priscilla Bailey Mr. Robert & Dr. Annette Baker Mrs. Bette Ballbach Mr. Ted Bangert Mrs. Nanette & Mr. Donald Barrett Mr. Russell & Mrs. Michele Barrett Mr. Gary & Mrs. Nina Bartolett Mr. Earl & Mrs. Connie Bartram Mr. Fred Bateman

Ms. Jenifer & Mr. Jason Baumann Mr. Jack Beals Jr. & Mrs. Sara Beals Mrs. Adele & Mr. Robert Bedford Mr. Dave & Mrs. Danette Bell Dr. Harry & Mrs. Janice Benham Ms. Lori & Mr. Rodney Bennett Mr. Stephen Bennett Mrs. Denis & Mr. Carl Benson Mr. Sydney & Ms. Andrea Benson Mrs. Suzanne & Mr. M. Jeffrey Berglund Mr. Gary & Mrs. Sylvia Berkram Mr. Peter Bing Mr. Vernon & Mrs. Sharon Bitz Mr. Robert & Mrs. Annette Bjelland Mr. Sidney Blair Mrs. Sherry & Mr. Todd Blass Mr. Mark Blessinger Mr. Phillip & Mrs. Linda Boggio Mrs. Michalyn & Mr. Thomas Born Ms. Meg Boswell Mr. Frank Boucher Jr. & Mrs. Cheryl Boucher Mr. Jon & Mrs. Amanda Boutilier Mr. John & Mrs. Sessaly Boyd Mr. Robert & Mrs. Diane Boyd Mrs. Dorothy Bracken & Family Ms. Ann Bradford & Mr. Scot DeBruler Mr. Pete & Mrs. Agnes Brekhus Mrs. Margie Brickley Mrs. Barbara & Mr. Richard Brown Mr. Brian & Mrs. Shelby Brown Dr. Jarvis Brown & Mrs. Sue Brown Mr. Jay & Mrs. Lynne Browne Mr. Todd & Mrs. Brooke Buchanan Mr. Frank & Mrs. Patty Buckley Mr. Richard & Mrs. Robin Bugni

Mr. Michael & Ms. Danielle Bundy Mr. Garry Bunke Mr. Tuke & Mrs. Chandra Burgess Mr. William & Ms. Jill Bushnell Mrs. Pamela & Mr. Paul Bussi

C Mrs. Tanya & Dr. David Cameron Mr. Don Jr. & Mrs. Shavon Cape Mr. Tom Jr. & Mrs. Lorie Carey Mr. Casey Carlson & Mrs. Kathleen SchakelCarlson Mr. Jim & Mrs. Pat Carlson Mr. Lyn & Mrs. Linda Carlson Mrs. Susan Carstensen & Mr. Larry Haferman Mr. Theodore & Mrs. Virginia Carter Mr. Ray & Mrs. Kim Center Mr. Glenn Jr. & Mrs. Lorre Chadbourne Mr. Jim Chadwick Ms. Mary & Mr. Don Chapman Mrs. Dela & Mr. Nathan Chatriand Mrs. Cynthia Chauner-Niendorf & Dr. Dana Niendorf Mr. Donald & Mrs. Laverne Chong Mr. Brian & Mrs. Marie Clark Mr. Robert & Mrs. Sally Clark Ms. Sarah Clark Mr. Joe Cleveland Ms. Scoti Clingingsmith & Mr. Scott Snider Mrs. Gladys Cole Mrs. Mary Jo & Mr. Eugene Cole Mr. Stephen & Mrs. Anne Conrad Mr. Kevin & Mrs. Tricia Cook Mrs. Karrie & Mr. Charles Crabtree

78 HONOR ROLL OF DONORS

Mr. Steven & Mrs. Stacey Craig Mr. Russell & Mrs. Lora Crawford Mrs. Jean Cress Mr. Robert & Mrs. Mary Jo Culliton

D Mr. Page & Mrs. Cyndi Dabney Mr. Boyd Dailey Mr. Robert & Mrs. Sharon Dale Mr. Andrew & Mrs. Susan Dana Mr. Ian & Mrs. Nancy Davidson Mrs. Jan & Mr. Paul Davis Mr. Ronald & Mrs. Dona Davis Mr. James & Mrs. Mary Davison Mr. Jeffrey & Mrs. Rona Davison Mrs. Rita De La Torre Mr. Donald & Mrs. Marilyn Derks Mr. Terry & Mrs. Elizabeth Desmond Mr. Michael & Mrs. Janet Devous Mr. Bryan & Mrs. Mary Dige Mr. Ron Dissly Ms. Patricia Doherty Mrs. Jeane & Mr. Dennis Downing Mrs. Gail & Mr. Jerry Dugan Mr. Steven & Mrs. Susan Duganz Mr. Andrew Durkin

Mr. Chad & Mrs. Jane Farrington Mr. Joseph & Mrs. Carrie Faulhaber Mr. Stefan & Mrs. Kathleen Fechter Mr. Lawrence & Mrs. Frankie Fickler Mr. Andrew & Mrs. Victoria Field Ms. Frances Fields Mr. Mike Fralick Ms. Kendra Freeck Ms. Stefeni & Mr. Bradley Freese Mr. Thomas & Mrs. Kathleen Frisby Ms. Michelle Frost Mrs. Erin & Mr. Jason Furr

G Mr. John Galt & Mrs. Kelly Minnehan-Galt Mr. Brian & Mrs. Julie Gambill Mrs. Marca & Mr. David Gibson Mr. Gary Giem & Mrs. Cindy Giem Mr. Bryan K. Gilbertson Mr. Bob & Mrs. Sandra Given Mr. George & Mrs. Alaine Gohn Ms. Kelli Goodian-Delys Mr. Lyle & Mrs. Evelyn Gorman Mr. Leif & Ms. Leanne Griffin Ms. Billie Gunn Mr. Kasey & Ms. Beverly Guyer

Mr. Joseph & Mrs. Jami Earsley Mrs. Emily & Mr. Scott Eaton Mr. Daniel & Mrs. Lottie Eggen Mr. Kenneth Eiden III & Mrs. Holly Eiden Mr. Matt & Mrs. Bridget Ekstrom Mr. Todd & Mrs. Arlene Eliason Mr. Richard & Mrs. Christine Ellerd Mr. David & Mrs. Marty Ellestad Ms. Dee & Mr. Leslie Elliott Mrs. Elaine Elliott Mrs. Brenda & Mr. Shaun Emerick Ms. Deborah Ernst Mr. Robert & Mrs. Jamie Evans

Mr. Douglas & Ms. Staci Hammell Mr. Allan & Mrs. Molly Hammell Mrs. Marjorie Hanes Mr. James & Mrs. Dawn Hankel Ms. Kerry Hanson & Mr. Glen Steinhoff Mr. Brian & Mrs. Laurie Harlin Mr. Michael Hart Mr. William Hart Jr. & Mrs. Diana Hart Mr. Ron & Mrs. Sandra Haugan Mr. Jeremy & Mrs. Monica Hauk Mrs. Tracy & Mr. James Hawbaker Mrs. Barbara & Mr. Scott Heck Mrs. Rachel & Mr. Ned Heitz Mr. Carter Helseth Jr. Ms. Irene Henjum Mrs. Karen & Mr. Theodore Herman Mr. Keith & Mrs. Shelley Hermanson

F Mr. Scott & Mrs. Carol Faris Mr. Peter & Ms. Tonya Farr

Mr. Darryl & Mrs. Karen Hess Mr. John & Mrs. Judy Hickey Mr. David Hill Mr. Joseph Hodgson Mrs. E. Corrine Hoffart Mrs. Gayle Hokanson Mrs. Shirley Holje Mr. Scott & Mrs. Jennie Holton Mr. Pete Horn Mr. Barry & Mrs. Frieda Houser Ms. Pam Howland Ms. Gwen & Mr. Matt Hubbard Mr. Mark & Ms. Cindy Huber Mr. Kevin & Mrs. Robin Hubley Mr. Charles & Mrs. Sandra Hull Mr. Vincent & Ms. Anne Hull Mr. Casey Hultquist Mr. Bill Humenczuk II & Mrs. Margo Humenczuk Mr. William & Mrs. Elizabeth Hupp Ms. Angela Huschka

I Mr. Walter & Mrs. Betty Imlay Mr. Raymond Irion

J Mr. Jacob Jabs Mr. Wade & Mrs. Susan Jacobsen Mr. Jim Jacobson & Ms. Karen Schulz Mr. Joseph Janhunen Mr. Tyler & Ms. Kim Jensen Mrs. Barbara & Mr. Greg Jergeson Mrs. Sheri & Mr. Carl Jessen Mr. Wynn & Ms. Minette Jessup Mrs. Christie & Mr. Patrick Johnson Mr. William Jr. & Mrs. Andrea Johnstone Mr. Kenneth & Mrs. Evelyn Jones

K Mr. John Jucius & Mrs. Rosaleen Kovash Mr. Alan & Mrs. Jean Kahn Mr. Scott & Mrs. Jolyn Kanning Mr. Brett & Mrs. Carlen Keaster Mr. Paul & Mrs. Kimberly Keiper

Mrs. Martha Kelsey Ms. Vickie Kemmerer Mr. Thomas & Mrs. Lisa Kimmet Mrs. Susan & Mr. Kevin King Mr. Thomas & Mrs. Moireen King Mr. Philip & Mrs. Anne Kirk Mrs. Melodi & Dr. Dennis Klemp Mr. Scott & Mrs. Alice Klosteman Mr. Mark Kohoutek & Mrs. Patty MurphyKohoutek Mr. Dennis & Mrs. Wendy Kolb Mr. Tony & Ms. Teresa Kolnik Mr. Curtis & Mrs. Jennifer Konvalin Ms. Raeanne Kooren Mrs. Julie & Mr. Jason Kostelecky Mr. Kurtis & Mrs. Jill Kosty Mr. George & Mrs. Mary Kroll Mr. Michael & Mrs. Heather Kubas Mr. Reuben & Mrs. Elizabeth Kuntz Mrs. Jean & Mr. Pat Kunz Mr. Joshua & Ms. Betsy Kurcinka Mrs. Helen & Mr. Scott Kurtz

L Mr. Donald & Ms. Jami Laird Mrs. Sheri & Mr. Steven Larsen Ms. Cheryl Larson Mr. Donald & Mrs. Stephanie Larson Mrs. LaVille Larson Mr. Phil & Mrs. Susan Layher Mr. Carl Leaman Jr. Mr. Jeff & Ms. Lisa Leaman Mr. Scott & Mrs. Teresa LeProwse Mrs. Miea & Mr. Brad Levery Mr. Ted & Ms. Roxie Lewis Mr. Todd & Mrs. Jeanelle Lindsey Ms. Renee Lineback Mr. Kevin Lintner Mr. Richard & Mrs. Patricia Lodmell Mr. Joseph & Mrs. Sharlene Loendorf Mr. Brian & Mrs. Patricia Loucks Mrs. Jeannie & Mr. Steve Luckey Mr. Joe & Mrs. Connie Ludwig Mr. Randal & Mrs. Teri Lund

M Mrs. Marjorie & Edward MacClean Mr. John MacDonald Mr. Brian & Mrs. Brenda MacNeill Mr. Jeffrey Maichel Ms. Maureen Maloughney Mr. Derek & Ms. Ann Marlin Mr. Craig & Mrs. Janice Marshall Mr. Andrew & Mrs. Melissa Martzloff Mr. Ronald Matelich & Ms. Swithin McGrath Mr. Paul & Ms. Susan Matteucci Mrs. Diana & Mr. Jon Mattfeldt Mrs. Inez & Mr. Mark Mattke Mr. David & Mrs. Suzanne Mattson Mr. Edward & Mrs. Maureen Maynard Mr. Katherine & Mrs. John McCaffery Mrs. Edythe McCleary Ms. Susan McRae Mr. Michael & Mrs. Jamie Menasco Dr. Nancy Merritt Mr. Charles Metully Jr. & Mrs. Susie Metully Mrs. Jennifer Meulemans Mr. Larry & Mrs. Lynda Mikkola Ms. Beverly & Mr. Bill Miller Ms. Rachelle Miller Mr. Scott Miller Mr. Martin & Mrs. Keli Miner Mr. David & Mrs. Kathleen Mitchell Mr. Scott & Mrs. Alison Mizner Mr. David Model Mr. Michael Monaghan Mr. Steven & Mrs. Susan Moore Mr. Terrill & Mrs. Tena Moore Mr. Michael & Mrs. Joni Morella Mr. Peter & Mrs. Dana Morgan Mr. Bruce & Mrs. Patrice Morse Mrs. Joanne & Mr. Glenn Mrjenovich Mr. Donald & Mrs. Cathryn Mulryan

N Mr. James Nell & Ms. Diane Bianchi Mr. Kurt & Mrs. Gail Nelson Mr. William Nesbit Mr. Jeffrey Nesset

Mrs. Nancy & Mr. Alan Nicholson Mr. Rodger & Ms. Laura Nordahl

O Mr. Jerry & Mrs. Kathy Olds Mr. David Orser & Ms. Ossie Abrams Mr. Larry & Mrs. Joan Ostby Mr. Ronald & Mrs. Penny Ostermiller Ms. LeeAnn & Mr. Gary Ott Mr. Joseph Ottoy Mrs. Debra Owen

P Mr. Derek & Mrs. Camille Patten Mr. Harlan & Mrs. Linda Patterson Mrs. Heidi & Mr. Ladd Paulson Mr. Douglas & Mrs. Marcia Peterson Mr. Gregg & Mrs. Amanda Peterson Mr. Jim & Mrs. Cindy Peterson Mr. John & Mrs. Lorraine Peterson Mr. Larry & Ms. Mary Peterson Mr. Lowell & Mrs. Deborah Peterson Mr. Richard & Ms. Colleen Peterson Mrs. Marilyn & Mr. Bill Pettit Mrs. Lynne & Mr. David Pinnick Mr. Charles & Mrs. Rebecca Pipal Mr. Scott Prickett Mr. Richard & Mrs. Norma Pruett Mr. Scott Purdy Mrs. Lori & Mr. Jason Purpura

Q Mrs. Amy & Mr. Thomas Quilici

R Mr. Joe & Mrs. Loralee Raatz Ms. Vickie Rauser Dr. Bruce & Mrs. Valerie Raymond Mr. Darryl & Mrs. Susan Razzano Mr. Rick & Mrs. Carrie Reisig Mr. Christopher & Mrs. Monica Remely Mr. John Rennie Mr. Phillip Richards Ms. Ursula Richter

80 HONOR ROLL OF DONORS

Mr. David & Mrs. Nancy Rigg Ms. Marla & Mr. Neal Riley Mr. Jay & Mrs. Phyllis Ritland Mr. Skip & Mrs. Jeanette Ritner Mr. Richard & Mrs. Jennifer Rivers Mr. Ben & Mrs. DeeDee Rixe Mr. James Robbins Mrs. Jeanne Roby Mrs. Catherine & Mr. Jonathan Roen Mr. Derek & Ms. Sandra Roesti Mr. Ralph Roscoe Mr. Corbin & Ms. Jody Ross Mr. David & Mrs. Melissa Ross Mr. Joseph & Ms. Melanie Ruby Mr. Daniel Ryan Mr. Alan & Mrs. Patricia Rypinski

S Mr. Fred Sagebaum Mrs. Eileen & Mr. Kenneth Salo Mr. Jason & Mrs. Shan Salois Mr. Lee & Mrs. Janel Sandvik Dr. Thomas & Mrs. Jackie Sather Mr. John & Mrs. Kristin Savage Mrs. Morgan Scarr Mr. Steven & Mrs. Carol Schumacher Mr. Thomas Scott Mr. Tom Scott Mr. Ryan Screnar Mr. Rory & Mrs. Kimberly Seidlitz Mr. Ira Shaulis Mr. Mark & Ms. Karrie Sherman Ms. Susan Shyne & Mr. Kirk Dawson Mrs. Jean Simkins Mr. Chad & Mrs. Leslie Simonson Mr. Ross & Ms. Joyce Simser Mr. Robert & Mrs. Pat Sletten Mr. Henry Smith Jr. & Mrs. Mary Smith Ms. Kelly Smith Dr. Stephen & Mrs. Nancy Smith

Dr. Stephen & Mrs. Lois Spencer Mr. Scott & Mrs. Heidi Squillace Mr. Kenneth & Mrs. Linda Stahley Mr. Charles Stalnaker Jr. Mrs. Maxine Stamper Mr. Samuel Stevenson Mr. Duncan Stewart Mr. John & Mrs. Sandra Stice Mr. John Stickel Mr. Andy & Mrs. Deborah Stockholm Mrs. Sonia & Mr. Phillip Stodden Mr. Robert & Mrs. Vicki Stubbs Mrs. Kristi & Mr. Scott Summers Mr. Dan Sundling Mr. Ronald & Mrs. Wendy Susott Mrs. Linda & Mr. Vernon Svensrud Mr. Murray & Mrs. Thea Swenson Mr. Robin & Mrs. Carolyn Swenson Mr. Ted & Mrs. Dorothy Swift

T Mrs. Margaret Taylor Ms. Suzanne & Mr. Scott Taylor Mr. Wyman & Mrs. Dee Taylor Mr. Carol & Mrs. Timothy Tempel Mrs. Laura & Mr. Brian Thomas Mr. Kenneth & Mrs. Barbara Thompson Mr. Scott & Mrs. Jill Thompson Mr. Timothy & Mrs. Cindy Thompson Mr. Jim & Mrs. Miriam Tilleman Mr. Fred & Mrs. Virginia Traeger

U Ms. Ruth Uhl Mr. Forrest & Mrs. Linda Ullman Ms. Janet Ulrich Mr. Daniel & Mrs. Donna Upton Mr. Tom Upton Mr. Seiichi Uzurahashi

V Mrs. Heather & Mr. Charles Vadun Ms. Kristin & Mr. Curtis Van Luchene Mrs. Jessica Van Voast Mr. Dan & Ms. Brandie Villa Mr. Kyle Viste Mr. Troy & Mrs. Angela Vollertsen Mrs. Bonita & Mr. John Vonderhaar

W Mrs. Lorie Wagner Mr. Richard Wagner Mr. Jason & Mrs. Nichole Walker Ms. Patricia Walker Mr. John & Mrs. Kathleen Walsh Mr. Darrell & Mrs. Margareta Walstad Mr. Bill & Mrs. Susan Ward Mr. Michael & Mrs. Linda Ward Mr. Harvey & Mrs. Polly Warren Mrs. Shauna Watson Mr. Willard Weaver Mr. James Webster IV & Mrs. Valerie Webster Mrs. DeAnne & Mr. Mike Weeks Mr. Steven & Mrs. Nita Wheeler Ms. Katie Whitbeck Ms. Shelby White Ms. Jamie & Mr. Kyle Wieferich Mr. Frank Willett & Ms. Arleen Boyd Mr. James & Mrs. Marilyn Williams Mr. Todd & Mrs. Kristen Williamson Mr. Loren & Mrs. Kimberly Willis Ms. Rosalind Winchell Mr. Gerald & Mrs. Sheri Wine Mr. Kreg & Mrs. Diane Worrest

Y Mr. Benjamin & Mrs. Gail Yanker Mrs. Jill & Mr. Jay Yost Ms. Nina Young & Mr. Bruce Scovill

Organizations 3M Company ABC Fox Montana American Furniture Warehouse Anderson ZurMuehlen & CO., P.C. Animal Medical Center Arbonne Askmore, Inc. Associated Appraisers Bequet Confections Bertolino Livestock & Trucking, Inc. Best Western GranTree Inn Big Sky Chapter of the Association of Certified Fraud Examiners Big Sky Western Bank Black Bull Golf Course Blue Cross Blue Shield Boeing Company Bozeman Business Professional Women (BPW) Bozeman Deaconess Hospital Bridger Creek Golf Course Capelli’s Carter Construction, Inc. Chevron Corporation D.A. Davidson & Co Deloitte & Touche Deloitte Foundation Dokken-Nelson Funeral Service East Main Liquor ERA Landmark Real Estate Fickler Oil Company, Inc. Fidelity Investments Charitable Gift Fund First Interstate Bank—Billings First Interstate Bank Foundation

First Security Bank Flying Horse Communications Gianforte Family Charitable Trust Harrington Bottling Company (Pepsi-Cola) Highland Liquors, Inc. Insty Prints Joseph Eve JRM, Inc. Junkermier, Clark, Campanella, Stevens, P.C. Knees Butte Farm, Inc. KPMG KPMG Foundation Labellum Manhattan State Bank Mercury Advertising, Inc. Microsoft Corporation Microsoft Giving Campaign Montana Bankers Association Montana Chamber of Commerce Montana Community Development Corporation Montana Department of Transportation DBE Program Montana Society of CPA’s Motorola Solutions, Inc. Mountain West Bank MRCH-Livingston, LC DBA MT’s Rib & Chop House MSU Alumni Foundation MSU Athletics MSU Office of Student Activities MSU Office of the President MSU School of Art Murdoch’s Ranch & Supply

Northrop Grumman Space Technology Northwestern Energy O2 Massage O’Berry Collaborative Old Chicago Old Works Golf Course Pine Cove Consulting, LLC PrintingForLess.com Promotions West Quality Up! Consulting RightNow Technologies Ritland Farms Rudd & Company Sather Eye Clinic and Optical Scott McFarland Insurance Agency, Inc. Spirited Holdings, Inc. State Farm Insurance Sun Mountain The Rocking R Bar Thermal Creative Thompson Investigations Timothy S. Thompson, CPA TowHaul US Bank—Bozeman Valley View Golf Course Verizon Foundation Wells Fargo Matching Gift Program West Paw Designs Wind River Pediatrics Works By Design Yellow Dog Fly Fishing Adventures Zoot Enterprises

82 HONOR ROLL OF DONORS

Endowments We thank the following individuals and businesses who have honored the College of Business (CoB) with established endowments. Endowments are a way to match a donor’s interest with Montana State University’s priorities, needs and objectives. Working together, the CoB and the donor create an endowment that reflects a commonality of goals. Endowment gifts may be set up to offer a scholarship to an exceptional student, support an outstanding professor, award excellence and honor loved ones. Because endowments are held in perpetuity and invested for the long term, these gifts provide one of the most secure sources of future revenue. Thanks! Alderson Program in Entrepreneurship Anderson ZurMuehlen Accounting Scholarship Mary Frances Bennett Memorial Scholarship Endowment Big Sky Western Bank Business Scholarship John & Lois Blankenhorn Scholarship Endowment John W. Blankenhorn Fund for Excellence Endowment Mike Bowen Memorial Scholarship Endowment Bracken Program for Excellence in Undergraduate Business Education Donald W. Bullock Scholarship Endowment David & Tanya Cameron Excellence in Business Scholarship Teresa L Clopton Business Scholarship Endowment College of Business Accounting Faculty Endowment College of Business Accounting Library Endowment College of Business Faculty Development Endowment College of Business Dean’s Endowment Gil Crain Memorial Scholarship D.A. Davidson Student Investment Program D.A. Davidson Scholarship Endowment

D.A. Davidson Silver Fund Farmer Anderson Memorial Scholarship Endowment Helen Fechter Scholarship Financial Institutions Enhanced Chair Endowment Harrington Pepsi in Honor of Bob Arrotta Student Mentorship Scholarship Russ B. Hart Fund Harold and Reta Haynes Endowment for Student Mentoring Harold and Reta Haynes Faculty Development Endowment Harold & Reta Haynes Superior Performance Award Barbara & Scott Heck Business Scholarship Scott and Barbara Heck Faculty Scholar Endowment Jake Jabs Center for Entrepreneurship for the New West Scholarship Junkermier, Clark, Campanella, Stevens Scholarship Howard Kelsey Memorial Scholarship Alice Knowles Scholarship Harvey A. Larson Endowment for Excellence Harvey Larson Scholarship Chad A. Lippert Deferred Gift Annuity Joe & Sharlene Loendorf Excellence in Teaching Award

Dennis P. Lusin Deferred Gift Annuity Mike McCue Memorial Mary Elizabeth McClure Memorial Norm Millikin Excellence in Outreach & Teaching Award Bettie Eagle Nelson & Peggy Roman Taylor Scholarship Thomas E. Nopper Academic Excellence Orser Endowment for Student Success David W. & Dorothy E. Patterson Scholarship Endowment Amy H. Pound Memorial Scholarship Frank Preston Business Scholarship Endowment Grace Rosness Memorial Scholarship Elizabeth Seitz Moyer Memorial Scholarship Endowment Robert G. Simkins Memorial Scholarship State Farm Insurance Family Business Program Robert G. Simkins Memorial Scholarship Jerry Trainer Excellence in Business Scholarship US Bank—Bozeman Scholarship Uzurahashi Endowment for International Studies

TITLE

THANK YOU to our College of Business Staff The College of Businessâ&#x20AC;&#x2122;s support staff provides vital assistance to our administrative team, faculty and students in a variety of ways. From preparing payroll, drafting budgets, coordinating position searches, to faculty and student support, event planning, and project management and development, they demonstrate hard work and dedication. We would like to express our gratitude and appreciate for their support.

Audrey Lee

Jackie Sather

Linda Ward

Brenda Truman

Director of Communications and Public Relations

Director of Development

Assistant Director, The Bracken Center

Assistant Director, Student Services

Lisa Daniels Director of the Bracken Business Communications Clinic

Halina Rickman Admistrative Associate to the Dean

Stanette Militello

Alison Todd

Accounting Analyst

Administrative Associate to the Associate Dean for Administration and Finance

Tamuna Nikabadze Administrative Associate, Student Services

Phyllis Johnson Administrative Associate, Faculty Services

Annual Report Online In 2008, the College of Business (CoB) created an online version of the Annual Report as a way to keep you updated on CoB activities and news while striving to manage our financial resources wisely. As we move forward, the CoB hopes to continue this tradition by linking our homepage to our online interactive Annual Report. Please e-mail collegeofbusiness@montana.edu if you wish to continue to receive a hard copy of the Annual Report. Thank you for your continued support!

Rilla Esbjornson Editor I Faculty Services

Find MSU College of Business on Facebook facebook.com/MontanaStateCOB

MSU College of Business is also on LinkedIn

P.O. Box 173040 Bozeman, MT 59717-3040 www.montana.edu/cob 406-994-4423

PERFORMANCE RESPECT INTEGRIT Y DILIGENCE E NGAGEMENT

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