Prospectus - Fall 2014 by ISU College of Business

PROSPECTUS COLLEGE OF BUSINESS

ALUMNI MAGAZINE

FALL 2014

Meet David Spalding The Fifth Dean of the College of Business

IN THIS ISSUE n

LABH HIRA RETIRES

CRUM HEADS NEW UNIT

W O M E N I N S U P P LY C H A I N

PROSPECTUS

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Raisbeck Endowed Dean. . . . . . . . . . . . . . . . . . . David Spalding Editor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan Photos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Katie Raymon Bob Elbert Writers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dennis Smith Dan Ryan Deborah Martinez Elizabeth Salton Design. . . . . . . . . . . . . . . . . . . . . . . . PUSH Branding and Design

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . Tru Art Color Graphics Contact College of Business Robert H. Cox Dean’s Suite 2200 Gerdin Business Building Ames, Iowa 50011-1350 515 294-5800 business@iastate.edu www.business.iastate.edu Prospectus is prepared by the College of Business at Iowa State University. It is sent without charge to alumni, friends, parents, faculty, and staff of the College of Business. Thirdclass bulk rate postage paid to Ames, Iowa, and at additional mailing offices. The views and opinions expressed in this publication do not necessarily represent official statements or policy of Iowa State University but are the personal views and opinions of the authors. Prospectus welcomes correspondence from alumni and friends. Send your comments to Dan Ryan, editor, at the above e-mail or postal address. Prospectus reserves the right to edit all correspondence published for clarity and length. Iowa State University does not discriminate on the basis of race, color, age, ethnicity, religion, national origin, pregnancy, sexual orientation, gender identity, genetic information, sex, marital status, disability, or status as a U.S. veteran. Inquiries regarding non-discrimination policies may be directed to Robinette Kelley, Director, Office of Equal Opportunity, Title IX/ADA Coordinator, and Affirmative Action Officer, 3350 Beardshear Hall, Ames, Iowa 50011, Tel. 515 294-7612, e-mail eooffice@iastate.edu.

The College of Business at Iowa State University is accredited by AACSB International— The Association to Advance Collegiate Schools of Business. The AACSB is the premier accrediting and service agency and service organization for business schools.

Features

Spalding Takes the Reins Meet David Spalding

The Next in a Legacy of Leadership

Labh Hira Retires An ISU Icon Says Goodbye

Onward and Upward Rankings, Enrollment Are Climbing

3 11 17

An International Experience Tracing the Supply Chain - Backward

Crum Heads Economic Development Centralizing the University’s Economic Growth

Women In Supply Chain Alumna’s Op-ed Featured in WSJ

ON THE COVER

Departments 2 30

Dean’s Message Faculty and Staff News

RAISBECK ENDOWED DEAN DAVID SPALDING IS POISED TO BUILD ON THE MOMENTUM OF HIS PREDECES-

34 36

SORS AND HELP ADVANCE THE

Development Dr. Charles Handy

COLLEGE OF BUSINESS.

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M ESSA GE FR O M THE DEA N

IN HIS OWN WORDS

An Iowa State education confers the tools to both survive and thrive in a challenging job market.

My name is David Spalding, and I am very excited to serve as the newest Raisbeck Endowed Dean here at the College of Business at Iowa State University. I came to Iowa State from Dartmouth College in Hanover, New Hampshire, where I spent eight years as an administrator. My undergraduate experience at Dartmouth was very powerful and – as you’ll read in the story on the next page – had a dramatic impact on my life and career. I arrived in Hanover with a plan: I knew what I wanted to do, and I knew how to get there. Until I didn’t. Like so many young people who arrive on college campuses, I was exposed to a lot of things I hadn’t been exposed to before. New people, new ideas, new concepts. Some of these were abstract and changed the way I think. But many were quite tangible and changed my trajectory entirely. My college experience helped open doors for me that led to a new career I hadn’t considered before. And it wasn’t just the classroom that impacted me, but the clubs and other activities on campus – and most important, my experiential learning opportunities. I had multiple internships that helped me identify a career path in finance, which led me to spend nearly 30 years on Wall Street and co-found my own firm.

But the energy and spirit of my undergraduate experiences stayed with me throughout my career and ultimately led me to return to Dartmouth and work in higher education. When I learned of the opportunity at Iowa State – with a chance to combine business and higher education, my two passions – I jumped at the chance. It’s been a great first academic year for me at Iowa State, and I’ve truly enjoyed my adventure so far. Perhaps my most important job has been to serve as a willing listener, hearing stories from students, alumni, faculty, and staff about why they love this college and what it means to be a Cyclone. But as we reminisce about the past, we must also pivot toward the future. We have been fortunate to have great leadership that laid a strong foundation for our future. My goal is simple: to build on that foundation to make what I believe is a great College of Business even greater. I know firsthand how impactful out-of-classroom experiences can be. We have to create more of them, at home and abroad. As Iowa State University grows, so too must we – not just our student body, but our faculty. We will continue to raise funds to keep college education affordable for our students. The challenges are many, but whatever challenges we face are far outnumbered by the opportunities in front of us. I am excited to be on this adventure with you. I look forward to meeting many more of you in coming months and hearing your ideas about how we can work together to take the next step.

Go Cyclones!

David P. Spalding, Raisbeck Endowed Dean

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PROS PE C TU S FAL L 2014

DEAN SPALDING

TAKES THE REINS Business Leader Brings His Passion for Education to Ames

THURSDAY, AUGUST 1, 2013, LOOKED LIKE A PERFECTLY TYPICAL LATE SUMMER DAY IN AMES, IOWA.

The second summer session would be winding down in just more than a week. Faculty were slowly trickling back into the Gerdin Business Building in preparation for the fall semester that was only 25 days away. The sun streaked across the sky on its way to a warm, cloudless afternoon. The campus was relatively quiet – it was summer, after all. Yet the buildup was beginning, the buzz palpable. Iowa State University was readying itself to welcome what would be its largest freshman class ever on the way to its largest enrollment in its history with more than 33,200 students. Virtually every enrollment record would soon come tumbling down – including undergraduates, international students,

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multicultural students, in-state, outof-state, and transfer students, among others – en route to becoming the state’s largest university. For the faculty, staff, and – in 25 days, the students – of the College of Business, there was another reason to be excited. For the first time in 12 years, the College of Business was welcoming a new dean. And for the first time since 1989, that new dean would come from outside the ranks of its own faculty. David Spalding couldn’t wait to get started. The announcement of his selection as the College of Business’ fifth dean came on May 9, the day before spring commencement weekend at Iowa State was to begin. The flurry of e-mails and conference calls

began almost immediately as he juggled the transition between two jobs and two communities more than 1,200 miles apart. But August had finally arrived. Spalding walked into the Gerdin Business Building, up to the Robert H. Cox Dean’s Suite on the second floor, and into his new office. His new workspace has what might be one of the most beautiful views on the entire Iowa State campus, looking directly at the Campanile and the lush greenery blanketing the south end of central campus. But Spalding would have little opportunity to admire the landscape, at least for awhile. There was too much work to do, too many people to meet, too many phone calls to make. THE WHIRLWIND WAS UNDERWAY.

DEAN S PAL DI NG TAKE S T H E R EI N S

A T R A J E C TO RY, C H A N G E D

The first meeting of the Dean’s Advisory Council under new Raisbeck Endowed Dean David Spalding was held in October 2013.

David Spalding’s path to the deanship in the College of Business at Iowa State University is unusual by traditional academic standards. He wasn’t a decades-long faculty member who rose through the ranks, first becoming a department chair, then an associate dean, and eventually assuming the deanship. Instead, Spalding built a highly successful business career, only making his way into academic administration decades later. Although his educational journey played out in other parts of the country, it bears a striking resemblance to the type of experience many Iowa State graduates call their own. Spalding grew up in a middleclass family in Louisville, Kentucky, one of four children of two firstgeneration college graduates. His father attended Dartmouth College, the 6,300-student Ivy League school in Hanover, New Hampshire, after completing his service in the Marine Corps. The elder

Spalding had used his college experience to vault himself from a broken home to a better, more stable life. He would go on to a long management career with General Electric. His mother attended nursing school but eventually decided to be a stay-at-home mom to their large and active family. Spalding was a typically busy teenager, participating on his high school debate team, even winning a Kentucky state debate championship. He was in his church’s youth group and high school senior play. When it came time to choose a college, his decision was an easy one. His parents were from the Northeast, and through his father he’d had extensive exposure to Dartmouth his entire life. “Dartmouth was in my blood,” he said. “It was college to me.” He was equally decisive about his career path. “Back then, I thought I had ‘the master plan.’ I was going to go to college, then law school, then back to Kentucky to become

Louisville’s version of Perry Mason,” he joked.Spalding arrived in Hanover and quickly saw firsthand how a quality college education can alter a young person’s trajectory. Dartmouth first admitted women beginning in 1972, and Spalding’s was the first class to include women for its full four-year cohort. It instilled in him a passion for diversity that he carries even now. He didn’t know it, but his own trajectory would change significantly while at Dartmouth. “I did what undergrads are supposed to do,” he said. “I took courses in a variety of areas and took advantage of internships.” SPALDING’S CLASS AT DARTMOUTH WAS THE FIRST TO INCLUDE WOMEN FOR ITS FULL FOUR-YEAR COHORT.

Dartmouth offered a robust internship program, and Spalding jumped in headfirst. He learned that a bank back in Louisville offered internships through the program, and he spent three stints there totaling 12 months. He didn’t just gain valuable experience and build up his résumé. He had found his professional path. Spalding majored in history and would earn his AB from Dartmouth in 1976. But Louisville would have to find another Perry Mason. “Obviously my ‘master plan’ changed,” he laughed.

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L I F E O N WA L L S T R E E T With his discovered interest in banking, and Dartmouth’s location just a few hours north of the nation’s banking capital, perhaps it was inevitable that Spalding would launch his banking career in New York City. He found Wall Street to be a perfect match for his skills and interests. “I really enjoyed finance and had an interest in banking,” he said. “I liked connecting with people and making the intellectual sale of complicated products. It’s a puzzle, to find the right financial structure for a company, and I really liked doing that.”

Spalding began his career as a traditional commercial banker with The Chase Manhattan Bank, lending money to small garment manufacturers. As his career took off, he would take evening courses and earn his MBA in finance from New York University in 1984. His success would earn him an opportunity as vice president with The First National Bank of Chicago (still located in New York), then as a senior vice president with GE Capital Corporate Finance group. Eventually, he joined Lehman Brothers Merchant Banking Partners, becoming a senior vice president,

then a managing director. In 1989, Lehman Brothers had $1 billion in private equity commitments, among the first of its size. By 1994, Spalding felt it was time for his own venture. He and three partners co-founded The Cypress Group LLC, a private equity firm that managed funds ultimately totaling $3.5 billion, and served as its vice chairman. Cypress bought businesses, then hired senior managers to run them, working alongside them to find the right strategy to grow, prosper, and profit.

THE SPALDING FILE

Age 60

Hometown Louisville, Kentucky Undergraduate Degree AB in history, Dartmouth College, 1976

Graduate Degree MBA in finance, New York University, 1984

Family Wife, Marianne; son, Andrew, a recent graduate of Dartmouth College; daughter, Megan, an undergraduate at Lewis and Clark College

IOWA STATE UNIVERSITY

Start Date at Iowa State August 1, 2013

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DEAN S PAL DI NG TAKE S T H E R EI N S

GIVING BACK, GOING BACK But by 2005, after nearly 30 years on Wall Street and 11 years co-managing his own firm, Spalding got the itch to try something different. After rising through the ranks at a number of well-known financial firms, then shepherding his own firm to success, he had accomplished more than what he had once thought possible. Spalding decided it was time to give something back. It was around that time that James Wright, one of Spalding’s former professors who was seven years into his presidency at Dartmouth, contacted him and asked him to consider returning to the institution as its vice president for alumni relations. Instead of managing investments, mergers, and acquisitions in the fastpaced world of high finance, he would build bridges between his hallowed institution and its 70,000 alumni spread around the United States and throughout the world.

“

I THOUGHT I HAD THE CHANCE TO FIND SOMETHING THAT WOULD ALLOW ME TO WORK MORE CLOSELY WITH FACULTY AND STUDENTS THAN I TYPICALLY DID. DAVID SPALDING

The idea wasn’t completely foreign to Spalding. He had extensive nonprofit volunteer and board experience, including chairing the MakeA-Wish Foundation of Metro New York board. And he had been engaged with his alma mater for

years, actively raising money for the Dartmouth College Fund Committee and serving on, and eventually cochairing, the giving committees for four of his class reunions. His efforts led to what was at that time the largest 25th reunion class gift in Dartmouth’s history. He also had served on Dartmouth’s President’s Leadership Council. Spalding jumped on Wright’s offer and threw himself into the job. “It was similar to Wall Street in that it was a very energizing environment,” he said. “But it’s very gratifying to work on a college campus helping to carry out a mission of educating students.” In 2009, Wright stepped down as Dartmouth’s president and was succeeded by Jim Yong Kim. Kim, a highly accomplished Harvard physician and anthropologist prior to his presidency at Dartmouth, made Spalding his chief of staff in June 2010. Spalding provided strategic direction to a wide range of college functions, including its investment office, athletics, communications, and oversight of the president’s office and staff. Spalding served Kim for two years until President Obama nominated Kim as the twelfth president of the World Bank. Carol Folt, who had been Dartmouth’s provost, was tapped as the college’s interim president. She elevated Spalding to senior vice president and senior adviser to give him more involvement in

David Spalding addresses the audience at his medallion ceremony for the Raisbeck Endowed Deanship.

strategic planning and decision making. He would now partner with the president to implement strategy, vision, and direction for the institution. In November 2012, Dartmouth’s Board of Trustees elected Philip Hanlon as its eighteenth president. Amidst the transition taking place, Spalding began to ponder his own future in higher education and decided to explore other opportunities. “I knew I loved working in higher education, but I thought I had a chance to find something that would allow me to work more closely with faculty and students than I typically did in the president’s office,” he said. Only weeks earlier, the committee in charge of finding the College of Business’ next dean had launched its search. Iowa State University was soon on David Spalding’s radar.

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ne of Dean Spalding’s first official events was O the annual faculty-staff picnic held just prior to the start of the fall semester.

WHY IOWA STATE? It’s a natural question, and one he gets often: how does a Kentucky native who spent his entire adult life and professional career in the Northeast end up in Ames, Iowa? And what attracted him to the job? “As I researched the institution before and during my interview process, I watched a video of President Leath’s installation,” Spalding said. “He made an incredibly strong case that the landgrant ideals of this university are as relevant today as they were 150 years ago.

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“As I watched it, I kept thinking back to the impact that higher education had on my father and me. About how Iowa State’s land-grant mission – to create and share knowledge with Iowans, to make a quality education accessible to everyone, to be a resource for the state – appeals to me. It was very powerful.” Spalding was equally impressed with Iowa State’s momentum as a university and its commitment to being an important resource for economic development in Iowa.

“

I KEPT THINKING BACK TO THE IMPACT THAT HIGHER EDUCATION HAD ON MY FATHER AND ME. ABOUT HOW IOWA STATE’S LAND-GRANT MISSION APPEALS TO ME.

DAVID SPALDING

“It was an opportunity for me to combine my passions for business and higher education in a college that is well-positioned for success at a university that is on the move,” he said.

DEAN S PAL DI NG TAKE S T H E R EI N S

ELEVATING HIS PRIORITIES

Dean Spalding has been active in meeting with student groups and classes, like this entrepreneurship group earlier this spring.

With any change in leadership, constituent groups like students, alumni, faculty, and staff all want to know: What will this person’s priorities be? What vision does he have for us? How will he set about achieving it? There is excitement. There is uncertainty. But most of all, people just want to know, what is he going to do? This often creates a mental tugof-war within a new leader. On one side is the desire to be inclusive, to seek out input from stakeholders in the organization, to absorb as much information as possible – the proverbial “drinking from the fire hose.” On the other side is a leader’s instinct to take swift action, to make a mark and set a tone of decisive progress. Spalding wrestles with it

himself. “Certainly as a new dean, you want to make an impact right away,” he said. “But I’m trying to strike the right balance between making immediate progress today and planning for tomorrow. “As I told the president, provost, and Iowa State community when I interviewed, there isn’t anything broken in this college that needs to be fixed. There is no crisis to weather. We’ve had strong leaders who have set us on a path to achieve greatness. That affords me the opportunity to engage in thoughtful conversation with the people who care about this college.” It’s an opportunity he has taken seriously. He made it a priority to meet with every member of the faculty individually, a lengthy series of nearly 90 meetings which he wrapped up in only two months.

He has been equally eager to meet with the college’s alumni, supporters, and members of the business community. Barely a month after his first day, he was being introduced by President Leath before an audience of influential business leaders in Des Moines. He has sought to improve the college’s ties with business and industry, visiting numerous companies and booking speaking engagements to share his – admittedly very preliminary – vision for the College of Business’ future. But while that vision is just now, barely a year into his tenure, starting to come into focus, an examination of his speeches and interactions with College of Business constituent groups brings a few themes to the forefront.

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DEAN’S THEMES

INCREASING INTERNATIONAL STUDY

EMPHASIZING STUDENT

CyBIZ LAB.

OPPORTUNITIES.

RECRUITMENT.

In January, the College of Business

Study abroad experiences are among

College of Business enrollment took a

publicly launched a new program to help

the most impactful students can have,

sharp uptick in fall 2013 with total under-

connect its students and faculty with

from both a personal and professional

graduate and graduate enrollment at

industry. CyBIZ Lab will create more

development standpoint. But at present,

3,908 students – as large as the college

opportunities for live business cases in the

only around 4 percent of College of

has been in the last 10 years. The col-

classroom, which have increased

Business students are able to do, in part

lege educates more Iowa high school

significantly in recent years. But the lab

because of logistical issues like course

graduates than any other business pro-

goes further by offering more opportunities

scheduling, but primarily because of the

gram in the country. Spalding wants to

outside the classroom. Companies and

cost. Spalding is committed to increasing

see that growth continue, especially

nonprofits will bring their business

support for students who wish to study

among women and underrepresented

problems to the lab to connect with teams

abroad, as well as exploring new pro-

minority students.

of students who will bring fresh

grams that might reduce these barriers,

perspectives and solutions. CyBIZ Lab will

like shorter study tours rather than full

ELEVATING FACULTY RESEARCH.

provide more experiential learning

semesters abroad.

Spalding increased faculty research

opportunities for students, more consulting

funding by 40 percent through a series of

opportunities for faculty, and improve the

ACHIEVE REACCREDITATION.

mini-grants and summer research grants.

college’s connection to Iowa’s economic

This fall, the college is up for reaccredi-

He also altered the title of his associate

development efforts.

tation by AACSB International – The

dean for graduate programs, Dr. Qing Hu,

Association to Advance Collegiate

to add the words “and research” to raise

HIRING FACULTY.

Schools of Business. Earning reaccredi-

the prominence of research among faculty

In order to keep up with current and

tation requires a rigorous assessment

and across campus.

projected enrollment growth, as well as

process as well as a site visit by a com-

add expertise in strategically important

mittee of faculty from peer institutions.

areas like big data, Spalding has emphasized faculty recruitment.

If it sounds like a lot to manage, it is. It would be a lot to absorb for any new dean, let alone one that is getting acclimated not only to his new job, but a new town and university. But Spalding relishes the challenge.

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“I’m just happy to be here,” Spalding said. “This community has welcomed us with open arms, and I’m thankful for that warm reception. Labh Hira and Mike Crum have been enormously valuable resources to me during my transition. President

Leath and Provost Wickert have given me all the support I could have asked for. “THIS REALLY IS A GREAT PLACE TO BE.”

Reaction

DAVID SPALDING’S APPOINTMENT

“

avid has an outstanding record, both D in the business world and in higher education administration. I am confident he will take Iowa State’s business programs to the next level, broaden the range of experiences available to our students and faculty, and expand the college’s impact in every corner of the state and beyond.”

“

David is already making an outstanding contribution to our College of Business. He’s leveraging his experience in the private sector and academia to strengthen experiential learning for business students, increase their understanding of global business and ethical decision making, and build the college’s research portfolio. I’m excited by David’s leadership and his collaborative management style and by the deep engagement of business faculty, staff, and students in charting the college’s future course.”

STEVEN LEATH, PRESIDENT Iowa State University

JONATHAN WICKERT, SENIOR VICE PRESIDENT AND PROVOST Iowa State University

“

David’s hiring brings new ideas and a commitment to relationships that will help the college expand its reputation, both throughout the state and across the nation. I am truly excited for the future of the College of Business at Iowa State.”

SUKU RADIA (’74 INDUSTRIAL ADMINISTRATION), CEO AND PRESIDENT Bankers Trust, Des Moines

“

David comes with a rare blend of impressive leadership achievements in both business and academia. He is a great listener who understands the need to invest in our programs and people.”

“

David’s wise counsel and valued judgment made him one of the most effective and trusted administrators I worked with during my tenure as Dartmouth’s president. His impressive career in business and finance followed by his success in multiple key leadership roles at Dartmouth provide a unique perspective that make David the ideal person to take on the challenges facing a business school dean. Iowa State is fortunate to have him.”

JIM YONG KIM, PRESIDENT World Bank FORMER PRESIDENT Dartmouth College

ARNIE COWAN, WELLS FARGO PROFESSOR IN FINANCE Search Committee Member

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HIRA RETIRES FROM IOWA STATE UNIVERSITY AT F I R S T A R E L U C TA N T D E A N , H E W A L K S A W AY A S O N E O F T H E U N I V E R S I T Y ’ S M O S T R E S P E C T E D F I G U R E S

Labh Hira’s management philosophy – as anyone who worked with him would tell you – was pretty straightforward. Avoid the trendy, and stick to the fundamentals. He frames it in terms of fashion. “There are three C’s to it,” Hira says. “First, you have to be consistent – you can’t show up in jeans today and a suit tomorrow. Second, you have to be comprehensive – you can’t really have a good suit and terrible shoes. And third, you have to be classic, not trendy.” Hira originally announced his retirement in October 2011, planning to wind down his tenure as dean with a smooth handoff to his own successor and a return to the faculty. While fashion might seem like an unusual choice of analogies, it’s actually pretty apt. Because if Hira had one job in his nearly 11-year run as dean of the College of Business,

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it was to “dress” the up-and-coming college for success on a larger stage. And it’s hard to imagine anyone doing it better. “You have to think through your decisions consistently,” Hira says. “You can’t say we’re going to hire good faculty this year, then recruit good students the next. You have to be in the game every day, every semester, every year. “Likewise,” he continues, “you have to be comprehensive. You can’t say we’re going to concentrate on facilities, so forget about faculty development. You can’t let one thing go away. And you can’t be trendy. You can’t say, ‘Oh, let’s have a new major, let’s introduce an MBA in health care systems, the flavor-of-the-month MBA.’” Consistent. Comprehensive. Classic. The Hira Way.

Labh Hira addresses the audience at the dedication of the Gerdin Business Building in February 2004.

A UNIVERSITY CITIZEN UNTIL THE END Hira originally announced his retirement in October 2011, shortly after Steven Leath was named to succeed Gregory Geoffroy as Iowa State University’s new president. Hira had cochaired the search and planned to wind down his tenure as dean with a smooth handoff to his own successor and a return to the faculty. But duty called. When the ISU Foundation needed an interim president in March 2012, it was Hira they asked to fill the role. With his experience and success as a fundraising dean, it was a natural fit. Hira served until its new president, Roger Neuhaus, took over in January 2013. He transitioned back to the College of Business faculty, teaching and helping David Spalding, the new College of Business dean, transition into his new role. Finally this spring, he felt it was time to make the announcement. No more administrative roles. No more interim appointments. He was done. Retired. SUCCESS NO ACCIDENT FOR “ACCIDENTAL” DEAN When Hira took the reins of the College of Business as interim dean in 2001, he had two tough acts to follow. One of his predecessors, Charles Handy, was the college’s founding dean, and the other, Benjamin Allen, had, in a few short years, built it into a major presence on the Iowa State campus. By the time Allen left the dean’s chair to become Iowa State’s provost in 2001, so effective had his leadership been in building and securing the college’s reputation that the search committee tasked with finding his replacement felt it was time to conduct a national search. Hira, who had been an associate dean for several years, was encouraged to throw his hat in the ring.

That might have been the only wrong call Hira ever made with regard to the college. Hira agreed to serve as interim dean while the search committee spread its nets for the ideal candidate. And they thought they had found that person – until 10 days after accepting an offer, he declined the position. The committee turned its eyes once again to Hira. “Of course,” Hira says, “I graciously accepted.” While the circumstances of his rise to dean have led some (including Hira himself) to refer to him as an “accidental” dean, Hira’s selection was hardly a matter of mere convenience – he had a solid track record in administration, first as the chair of the accounting and finance departments, then as an associate dean. But this was the early 2000s. The bursting of the dot-com bubble and the 2001 terrorist attacks had ended one of the longest growth periods in U.S. history and signaled a rising budgetary crisis that would explode with the bursting of the housing bubble and economic collapse later in the decade. The strengths the search committee saw in Hira were precisely what the college would need when other programs were struggling just to stay in place. It also signaled an era of retrenchment in public support of higher education, as year after year state government slashed appropriations and left Iowa’s Regents institutions struggling to replace funding streams. “Even then we were going through some serious budget challenges, and that’s one of my strengths,” Hira says. “And I had developed a very good network of relationships with our alumni.”

The self-effacing professor of accounting would have none of it.

The strengths the search committee saw in Hira were, in fact, precisely what the college would need, not just to survive, but to thrive in a decade when other programs at Iowa State and across the nation were struggling just to stay in place.

“I decided it was a time to bring in somebody from outside,” Hira recalls. “We were at a stage where we could benefit from some outside experience and knowledge, and it was not the right move for me to be in that position.”

VISION STANDS ON BROAD SHOULDERS “Handy, Allen, and Hira – they’ve been phenomenal building blocks to achieve our vision,” says Cara Heiden, a 1978 graduate of the old Industrial Administration program.

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A retired co-president of Wells Fargo Home Mortgage, Heiden’s service on the Dean’s Advisory Council (DAC) since 1994 has given her a front row seat to some of the most exciting developments in the college’s short history. She does not stint her praise for those who led the college into the 21st century. “Iowa State is extremely fortunate to have had both Ben Allen and Labh Hira,” Heiden says. “They were the right leaders for the time. They both have an ability to be part of the business community because they think that way. “The huge value Labh added was his customer focus,” Heiden adds. “What does our client want? And by ‘client’ I mean a company that hires Iowa State graduates – the Wells Fargos and Principals. There became, under Labh’s leadership, this tighter connection with business leaders in Des Moines.”

retrenchment, would the college take its place among the best land-grant business schools in the nation? BUILDING BEYOND THE BUILDING Hira knew the College of Business needed more. And it needed it quickly to catch up, let alone compete on a national stage. To do so, Hira understood that to realize the college’s promise, he had to focus on what is inarguably its most important element: its people. Business studies at Iowa State had always been acknowledged for their concentration on undergraduate students. But narrowly focusing on undergraduate education, critics say, is a kind of tunnel vision that not only disregards the groundwork laid by Handy and Allen, but ultimately shortchanges the very undergraduates the college exists to serve in the first place.

HOW TO BECOME THE BEST? Another of those leaders is Steve Schuler, executive vice president and chief financial officer of the Federal Home Loan Bank of Des Moines. Like Heiden, Schuler is “old school,” a 1973 graduate of the Industrial Administration program. And like Heiden as well, he’s a long-standing member of the DAC, serving since the early 1980s and chairing the DAC under Ben Allen. “One of the things I remember so vividly about Labh,” Schuler recalls, “is that he had a wonderful relationship with Russ and Ann Gerdin. They really asked him to steward the development of the college’s building.” The relationship with the Gerdins, Schuler says, was first cultivated by Ben Allen before he left to become ISU provost. An associate dean at the time the Gerdins made their groundbreaking gift to the college, Hira agreed to oversee construction In order even to stay where you are, there’s a lot of building that goes on. It has to be a of the building. continuous battle to stay in front. Labh Hira “And he did a marvelous job,” Schuler remarks. “The building came in on time and under budget, which is not all that common in that business. Really, Labh and his wife Tahira literally walked through that building every day it was under construction.” Hira’s vision did not stop at fulfilling Allen’s vision of a first-class facility for business studies but rapidly moved to the next level: How, in an era of budget slashing and IOWA STATE UNIVERSITY

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“In order even to stay where you are,” Hira notes, “there’s a lot of building that goes on, whether it’s hiring the right faculty, enhancing the quality of staff, enhancing the recruitment of our students or our infrastructure and technology – it has to be a continuous battle to stay in front.”

“brand” to schools across the globe, enhancing the visibility of the college and, not coincidentally, the value of an Iowa State business degree both to potential employers and future students.

A world-class education demanded a world-class faculty whose research and publications could extend to the global community while at the same time enriching the classroom experience of their students. And that meant providing the resources to attract top talent – both rising and established – to teach at Iowa State. It meant funding for endowed chairs and professorships, something Hira knew instinctively.

“The PhD program was a move that required quite a bit of juggling,” Hira recalls, “both politically in this state as well as internally in the college – most importantly with our Dean’s Advisory Council.”

“Nobody told me I had to create named faculty positions,” Hira said. “It is a matter of necessity, to some extent, a matter of circumstances – a matter of a mature development process.” PHD, THE COLLEGE CAPSTONE Yet Hira knew as well that no number of endowed chairs could compensate for the college’s lack of a PhD program. Without it, the college ultimately could not attract and retain the kind of faculty needed to take it to a national level. The best scholars demand younger protégés who challenge and inspire them on a daily basis and who assist with their research and teaching. In turn, these new PhDs would take the Iowa State

Still, Hira had to push hard to pitch the concept to both internal and external constituents.

After all, the University of Iowa already offered doctoral studies in business – what could Iowa State bring to the table to justify another such program? And why should leaders from the business community sitting on the DAC – people unlikely to hire PhDs, who typically go on to teach in higher education – support diverting resources to purely “academic” interests? “There were some conversations,” Schuler acknowledges. “Why do this? What is the value? Labh really believed that it was good for the college and good for the college’s product, and that is higher quality students who are educated by faculty who are broad-thinking, research-oriented individuals. “And,” adds Schuler, “I think that was bought into pretty well by the DAC.”

Without a PhD program, the college ultimately could not attract and retain the kind of faculty needed to take it to a national level.

Labh Hira in front of the Gerdin Business Building construction site, August 2002.

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Indeed, Schuler’s DAC colleague Cara Heiden was initially skeptical herself – until Hira brought in several doctoral students to present their work to the council. “I came around,” Heiden admits. “To have a really strong undergraduate program, a really strong master’s program, and a really strong PhD program? That’s a comprehensive solution that is good for our students and good for business. And in the end, it does elevate the Iowa State University College of Business.” CHALLENGES REMAIN Despite these accomplishments, Hira left the dean’s chair with no small concern for the work remaining to his Clockwise from top left: Labh Hira, Mike Crum, Charles Handy, and Ben Allen together successors. Higher education is in flux. The presat a College of Business reception thanking Labh Hira for his service as dean. sures of budget cuts and competition from both bricks-and-mortar schools and online upstarts often sit uneasy with the democratic mission of whose gift will be so substantial as to give Iowa State a a land-grant institution. And while Hira believes named College of Business. that Iowa State has stayed true to its land-grant origins, affordability of a college education is a growing problem. “Continuous reinvestment in the college is necessary,” Hira says. “Besides the resources it brings, there is a prestige, an Another area in which Hira feels his successor must focus exposure, a visibility – whatever you want to call it – that is the breakneck speed at which technological change goes with having a named college. So I would say that’s the occurs, threatening constantly to outstrip the resources of next big initiative leadership will have to address. a college whose graduates must hit the ground running in jobs that demand they be fully versed in the latest tools and techniques for doing business. Labh Hira’s legacy has been nothing short of transformational and transcends the sum of his accomplishments as dean. “A former colleague of mine said that you have to aim in front of the duck to shoot a flying duck,” Hira notes. “Technology creates those challenges for us.” But how do you lead “technologically”? Hira would tell you that it’s no different from any other kind of leadership that depends on teamwork and seeking the input of others. “There’s no doubt that anyone who sits in that chair doesn’t know everything,” Hira insists. “If they do, they’re the wrong person to sit in that chair.” But perhaps the biggest challenge for his successor, Hira says, will be to accomplish a goal that eluded him in his tenure as dean: to cultivate and close the deal with the one benefactor

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“It has been a goal of mine, but I did not succeed. But strange things can happen,” he adds with a smile. “Who knows? We could get that gift tomorrow.” Indeed, with the relationships he’s forged, the friends he’s made, the bridges he built – not to mention the thousands of lives he touched in a lifetime of teaching prior to his deanship – Labh Hira’s legacy has been nothing short of transformational and transcends the sum of his accomplishments as dean. “I think I speak for all when I say that we all very much respect and deeply appreciate where he has taken our College of Business,” says Cara Heiden. “And I also want to add that Dean Hira did it in a very humble way. It was never about Labh Hira; it was always about the College of Business and what the students and the faculty and the alums could make it.” It was, in short, leadership that was consistent, comprehensive – and already a classic.

Tahira and Labh Hira

Tahira Hira built a long career of service and distinction at Iowa State. Also retiring this spring, she leaves Iowa State as President Leath’s senior policy adviser after serving previously as associate vice provost for ISU Extension, then as executive assistant to President Geoffroy. A professor of personal finance and consumer economics in the College of Human Sciences, she is internationally recognized for her research in a wide range of topics. She served a term on the U.S. President’s Advisory Council on Financial Literacy. Despite her distinguished and demanding career, she helped Labh shepherd the Gerdin Business Building to its completion and opening 10 years ago. She worked tirelessly to raise funds and build relationships that would enhance the College of Business’ programs and enrich its students.

COLLEGE OF BUSINESS, ISU COMMUNITY HONORS HIRAS The contributions that Labh and Tahira Hira made to the College of Business changed the course of its history and improved the experience for generations of students to come. While Labh’s accomplishments as dean are well documented, perhaps lesser known is the important role that his wife Tahira played in the college’s development during her husband’s deanship.

In honor of Labh’s deanship and Tahira’s many contributions, the College of Business awarded them with its Russ and Ann Gerdin Award, which honors contributions from individuals who are not College of Business graduates. The award is named for the Gerdins, who made the lead gift for the Gerdin Business Building even though they did not attend Iowa State. The award was presented at the 83rd Honors and Awards Ceremony on October 10. Also that day, the university honored the Hiras with a retirement reception. Hundreds of people attended to pay tribute to their more than 30 years of service to Iowa State. Labh Hira was honored in May 2014 by the ISU Alumni Association with its Faculty-Staff Inspiration Award. The award recognizes ISU faculty or staff who had a significant influence on the lives of students. The Hiras were previously honored in 2010 by the ISU Foundation as its Order of the Knoll Faculty and Staff Award winner, which recognized their dedication and long-term professional and volunteer service to the foundation through advancement of philanthropy. n

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COLLEGE OF BUSINESS RANKINGS,

ON THE RISE

ENROLLMENT

THE COLLEGE OF BUSINESS IS ON THE CLIMB. ON ONE EARLY SEPTEMBER DAY, THE COLLEGE LEARNED THAT ITS PLACE IN U.S.NEWS & WORLD REPORT’S 2015 “AMERICA’S BEST COLLEGES” JUMPED BY 22 SPOTS. The next day, Iowa State’s official enrollment

figures were released, and it was more good news as the college kept pace with Iowa State University’s explosive growth. In the U.S.News rankings, Iowa State University came in at No. 50 among the top 173 public national universities in the United States. It was tied with the University of Kansas, Lawrence; University of Oklahoma, Norman; University of Oregon, Eugene; and the University of Tennessee, Knoxville. The College of Business was also tied for 50th among public institutions, an increase of nine spots from the previous year’s ranking, and tied for 79th overall among schools accredited by the Association to Advance Collegiate Schools of Business (AACSB). The ranking among AACSB-accredited schools represented a jump of 22 spots. Only around 5 percent of business programs worldwide earn AACSB accreditation. The College of Business’ ranking of 79th out of 508 AACSBaccredited U.S. programs places it in the top 16 percent in the country.

The College of Business is among the top 50 public business programs in the country. Its fall 2014 enrollment is 4,082 students, an increase of 4.5 percent over a year ago. Iowa State was again listed among U.S.News’ list of “A-plus Schools for B Students,” described as those schools “where non-superstars have a decent shot at being accepted and thriving – where spirit and hard work could make all the difference in admissions offices.” Iowa State is again included (at No. 91) in U.S.News’ top 100 rankings by high school counselors.

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Meanwhile, Iowa State is again enjoying a record year for enrollment. Its fall 2014 enrollment of 34,732 is the largest in school history, an increase of 4.5 percent (1,491 students) over the previous record of 33,241 in fall 2013. College of Business enrollment is at 4,082 students – 3,836 undergraduates and 246 graduate and PhD students. This is the fifth-highest enrollment in the college’s history and its largest since 1988. Like the university, the College of Business grew by 4.5 percent over its previous year’s enrollment. It’s the sixth year of record enrollment and the eighth consecutive year of growth at Iowa State. The university’s student body represents every Iowa county, every U.S. state (plus the District of Columbia, Guam, Puerto Rico, Virgin Islands, and Mariana Islands), and 110 countries. More Iowa undergraduates are attending Iowa State than ever before: 18,478 students, or 64 percent of ISU’s undergraduate student body, are Iowans. Overall, 20,260 Iowans attend ISU, also a record. Iowa State’s freshman class of 6,041 students includes 3,509 (58.1 percent) Iowa residents. Each year, Iowa State enrolls more Iowa high school graduates as new freshmen than any other four-year school. Similarly, the College of Business enrolls more Iowa high school graduates than any other four-year business program. This fall, 62.4 percent of College of Business enrollment is comprised of Iowa residents. The university set records in numerous categories this fall, including undergraduate enrollment, graduate enrollment, international student enrollment, diversity, U.S. multicultural enrollment, and enrollment among both Iowa resident and nonresident undergraduate students. n

SUPPLY CHAIN CHINA MANAGEMENT A N I N T E R N AT I O N A L E X P E R I E N C E

What started with a dinner conversation between assistant professor of supply chain management Scott Grawe and a former colleague from Target quickly escalated into a life-changing, international experience for 27 students in the College of Business: participation at every stop along a real-life supply chain.

chair, quickly recognized the trip’s value. A native of China, Hu also lent his cultural and logistical expertise in helping to plan the trip.

“We talked about how we get supply chain management students ready for a career with Target or with anyone else for that matter,” said Grawe. “Here in the middle of Iowa, there isn’t a whole lot to see from an international logistics perspective.” More than simply career preparation, his goal was to provide a once-in-a-lifetime experience.

Now that Grawe had the support of the college, he needed support from the students. And given the short turnaround from idea to a fullfledged course, he had his work cut out for him.

With the help of Target and a supportive College of Business administration, Grawe was able to do just that. He took his students backward through the supply chain, from seeing products – in this case,

kitchen utensils – on one of Target’s retail store shelves to the factories in China where they are produced. Increasing international opportunities for its students has long been a priority for the College of Business, so when Associate Dean of Graduate Programs and Research Qing Hu heard Grawe’s pitch for the study tour, he jumped at the opportunity. Hu, a former supply chain and information systems (SCIS) department

Grawe was asking a lot. He, and the college, knew that the cost of the course would make it prohibitive to some students. The total cost for the trip, including airfare, ground transportation, hotels, and several

Grawe took his students backward through the supply chain, from seeing products on one of Target’s retail store shelves to the factories in China where they are produced.

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meals was well over $3,700 – no small amount for college students already living on limited means. But would that be enough to put a halt to the class entirely? The answer, fortunately, was no. Like Associate Dean Hu, students immediately realized that the benefits of the trip – both to their undergraduate experience and their marketability as future employees – far exceeded its cost. There was an overwhelming sense that this was an opportunity students rarely get and might never get again. And it simply couldn’t be simulated in a classroom. Many of the students in the course had family help or student loans to cover the cost, and the College

Grawe worked closely with Target to ensure a rigorous case study that would challenge students to improve Target’s supply chain. of Business offered a onetime $500 scholarship for each student. Still, the ones who couldn’t participate stuck with Grawe. “I had one student in my office saying that he thought that his mom could get another credit card to allow them to be able to make this trip happen,” Grawe said, recalling the unfortunate circumstances that led him to turn the student away. “That was frustrating.”

As a nontraditional class, these students pulled from a different skill set in order to excel. The structure of the class meant they weren’t going to meet at a regular time each week in the same classroom taking diligent notes in order to prepare for a test at a later date. Instead, they were given a series of articles to read independently regarding supply chains in China and about Target. They were also directed to learn and understand as much about what they were about to see as possible. In teams of three or four, students were assigned a case study about how to improve Target’s supply chain. From the start, Grawe meant for the course to be interactive rather than a passive guided tour; students were graded primarily on their participation and professionalism, a white paper, executive summary, and their case study findings to Target’s executive team. The group gathered a few times prior to the trip so Grawe could prepare them for what to expect. “Selfishly, I wanted the students and ISU to look really good,” Grawe said. In anticipa

tion of more general questions that the students might be asking, Grawe went through what the students should expect to see at each facility so they were familiar with the basics, such as what types of machinery they were going to see. That way, they could maximize their limited time on more focused questions that would help them with the case study. Grawe worked closely with Target to ensure a rigorous case study and that the students would have the data they needed to make sound recommendations. Target sent along two spreadsheets totaling 30,000 lines of data in Microsoft Excel. Their challenges included supply chain issues such as taking one full day off the supply chain from factory to store and finding ways to put more products in overseas shipping containers to save on costs. Then it was time for the trip. While Target offers thousands of products with varied and complex supply chains, Grawe’s course focused on Target’s kitchen utensils, such as plastic bowls, plates, and cups.

For those who were able to take the trip, it represented more than just a financial sacrifice. These were upperlevel students forfeiting their week of spring break. And while many had taken another of Grawe’s courses the previous semester, they quickly had to adjust to a more independent style of learning in order to succeed on this journey.

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supply chain, this time with Frank Montabon, associate professor of supply chain management, who traveled to China with a group of MBA students in 2012. A third expedition is planned for 2015. As word spread about the unique experience the course provides, Grawe no longer has to do much persuading to find interested students. CEDAR FALLS, IOWA Target store visit Distribution center tour LONG BEACH, CALIFORNIA Port of Long Beach Yusen deconsolidation facility Target store visit Distribution center tour SHENZHEN, CHINA Port of Yantian CFS Warehouse PANYU, CHINA Target supplier (plastic bowls, plates, cups) Target Sourcing Services GUANGZHOU, CHINA Supply chain lecture at Sun Yat-Sen University Guangzhou Honda BEJING, CHINA Silk Street Market Tiananmen Square The Great Wall Forbidden Palace Temple of Heaven Olympic Park Ming Tombs

At each stop along the supply chain, students were given a behind-thescenes look at the facility’s processes, including everything from production, packaging, shipping, and distribution. Target provided full access to its facilities, including spaces that are rarely open to outsiders in today’s post9/11 environment. Target employees stated throughout the trip how impressed they were with the students’ questions. “It really helped to keep the students engaged along the way when they knew their grade hinged on solving a problem. I was amazed at the level of engagement for this group of students,” Grawe said. Once the students returned to the United States, they traveled to Target headquarters in Minneapolis to present their ideas to Target’s senior supply chain leaders. The 2013 trip was such a success – a life-changing experience in every way for its students – that Grawe was determined to continue to offer the experience. And in 2014, he did, taking students on a similar trek through Target’s

Over the course of these trips, Grawe and his students have realized how fortune they are to have this kind of exposure to a company’s supply chain. Many of the students from the trips have found the course to be an important differentiator in their interviews with potential employers.

“These students are more marketable than any other supply chain students in the country.” Scott Grawe The course isn’t just yielding benefits for students. Target is gaining valuable insight from outsiders on its supply chain practices, and even picking up a few of Iowa State’s best and brightest in the process. Three Iowa State supply chain graduates in the past two years have launched their careers at Target, in part because of the exposure they gained by presenting to Target executives. “These are students that now have a huge advantage in the marketplace,” Grawe says. “They are more marketable than any other supply chain students in the country.” n

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STUDY TOURS OFFER NEW INTERNATIONAL OPTIONS Surveys of incoming students have shown that nearly four in five of them express an interest in studying abroad when they arrive on campus at Iowa State.

Even those who have not traveled abroad understand the benefits they can get from the experience – exposure to other cultures, the confidence gained from navigating an unfamiliar country, interaction with people whose life experiences are very different – and how those benefits can positively impact their lives and careers. Yet despite their initial interest, the obstacles to studying abroad quickly pile up, and only around 4 percent of College of Business students are actually able to complete a study abroad opportunity. The biggest of those obstacles? Time and money. It is often difficult for students to leave campus for an extended

period. Housing commitments, oncampus leadership opportunities, jobs, family obligations – the list of reasons not to leave can get long very quickly. And the issue of cost needs no further explanation. Knowing how crucial it is for students to gain international exposure in a modern, globalized economy, the College of Business has introduced study tours as an alternative to the traditional semester or year spent studying abroad. It addresses both of these major obstacles by offering a shorter international experience with a smaller price tag. College of Business study tours are led by a faculty or staff member and travel

Ireland: Earlier this year, a group of MBA students took a study tour to Ireland. Destinations included the Jameson Distillery and Siemens, shown in this photo. IOWA STATE UNIVERSITY

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during spring and summer breaks. They allow students to approach their area of study in a hands-on and experiential manner, combining theory with real-life experience and cultural perspective. Students learn about a country’s business and industry through visits to local businesses and organizations, as well as the cultural attractions of the region. Past College of Business study tours have included trips to Italy (Florence, Rome, and Turin) and an MBA trip to Ireland. For 2014–2015, there are even more options, including the supply chain Target trip to Hong Kong and China, Italy, marketing trips to Hong Kong and Rome, and Spain. n

Italy: A College of Business study tour in Italy included a stop at St. Peter’s Basilica within Vatican City.

HEADS CRUM

NEW UNIVERSITY ECONOMIC DEVELOPMENT OFFICE

Having served for more than 16 months as the interim Raisbeck Endowed Dean of the College of Business, Michael Crum – a longtime member of the supply chain management faculty and holder of the Ruan Chair in Supply Chain Management – is now serving as President Leath’s senior policy adviser on economic development. The appointment was announced in July 2013.

“I’m extremely happy to appoint Mike to this post,” Leath said at the time of the announcement. “He is uniquely qualified, given his years of experience in the College of Business and on the board of the ISU Research Park. He knows all the relevant stakeholders - both on and off campus - and those relationships will be essential as the university strives to promote economic development across the state and beyond.” CRUM WILL MAKE RECOMMENDATIONS TO LEATH ON ALL MATTERS RELATED TO ECONOMIC DEVELOPMENT, TO EXPAND THE UNIVERSITY’S CONTRIBUTIONS TO IOWA’S AND THE NATIONAL ECONOMY. In this role, Crum makes recommendations to Leath on all matters related to economic development, to facilitate expansion of the university’s contributions to Iowa’s and the national economy. Such considerations include strategic goals and priorities, allocation of resources, and the integration and coordination of functions and activities. He also will develop a plan for strengthening Iowa State’s economic development enterprise, including its marketing, organization, and alignment; efficiency; effectiveness; accessibility; and responsiveness. He will work with groups internal and external to the university on matters of economic development. In addition to representing Iowa State on economic development boards, he’ll work to strengthen coordination with 22

constituents that include those boards, business associations, government agencies, communities, and foundations. Crum will serve as a gateway for Iowa’s business community to the expertise and business services offered through Iowa State. “It really is inspiring to see how much we’re doing,” Crum said. “Economic development activities occur all over campus. There are many opportunities for us, through better coordination and integration, to leverage these efforts and do even more.” Crum’s appointment spearheaded the January 2014 creation of a new unit at Iowa State University, the Office of Economic Development and Industry Relations (EDIR). Crum will head this office, which will help to centralize the university’s economic development efforts and create a hub to make it easier for external partners, like Iowa businesses, to seek assistance. “I am excited about the creation of this new office, which makes it easier for our external partners to connect with the university’s expertise and capabilities related to economic development and industry needs,” President Steven Leath said. “It furthers our goals of being more accessible and more responsive, and most importantly, becoming an even greater contributor to the state, national, and global economies.” VOLUME 30 NUMBER 1

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In explaining the role of this new office to the Board of Regents, State of Iowa, Crum asked, “How do we become more accessible and how do we become easier to work with?” Beginning immediately upon the creation of EDIR in January, a number of university units related to economic development began reporting to it. Some have dual reporting arrangements and will retain their current reporting lines. The units now reporting to EDIR are:

ISU Research Foundation, Office of Intellectual Property and Technology Transfer. Center for Industrial Research and Service (CIRAS). This unit also will continue to report to the College of Engineering.

Institute for Physical Research and Technology (IPRT) Company Assistance. This unit’s administrative home is CIRAS. Pappajohn Center for Entrepreneurship.

This unit also will continue to report to the College of Business.

Small Business Development Center.

This unit also will continue to report to the College of Business.

By mid-2016, EDIR and its units will be housed in the new Economic Development Core Facility at the ISU Research Park. A $12 million state appropriation is supporting construction of the 49,210-square-foot core facility south of the existing research park. It will serve as a one-stop shop for business and industry to seek Iowa State expertise and assistance. In addition to the units now reporting to EDIR, the facility also will house the Cultivation Corridor regional economic development project. “This building really will be transformational for the economic development efforts we’re making,” Leath said. “For the first time, all Iowa State economic development service units will be together, enabling us to provide services in a much more comprehensive and integrated fashion.” The research park currently has nearly 60 tenants with more than 1,300 employees and a total payroll of more than $70 million. A third phase of expansion at the research park calls for developing another 200 acres, growing the park’s employee base to more than 6,000 people. “The Economic Development Core Facility will be the signature building of the research park’s phase-three development,” said Crum. “It will be the gateway to

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”THE ECONOMIC DEVELOPMENT CORE FACILITY WILL BE THE GATEWAY TO CAMPUS FOR BUSINESS AND INDUSTRY SEEKING TECHNOLOGY OR BUSINESS EXPERTISE. ” Mike Crum

campus for business and industry seeking technology or business expertise. And it’s going to be a catalyst for a lot of greater things to come.” Crum joined the College of Business in 1980. He served as a department chair from 1998 to 2001, and held the John and Ruth DeVries Endowed Chair in Business from 2004 to 2011. He has served on many committees, whose purposes were as varied as academic searches and reviews, Faculty Senate proceedings, student athletes’ academic progress, and strategic planning. Prior to his 16 months as interim dean of the College of Business, he served as its associate dean for graduate programs from 2005 to 2012. Crum has served as chairman of the ISU Research Park’s board of directors since 2004, joining the board two years earlier. n

CONNECTS STUDENTS TO INDUSTRY

EARLIER THIS YEAR, THE COLLEGE OF B U S I N E S S P U B L I C LY L A U N C H E D C Y B I Z L A B A S A N I N I T I AT I V E T O E X P A N D E X P E R I E N T I A L L E A R N I N G F O R I O W A S TAT E U N I V E R S I T Y S T U D E N T S I N A W AY T H AT A L S O P R O V I D E S BUSINESSES WITH ACCESS TO MARKET R E S E A R C H A N D C O N S U LT I N G S E R V I C E S . The College of Business created CyBIZ Lab as a way for students to gain real work experience. College of Business faculty members have worked for years with private business and industry, as well as nonprofits, to provide students with hands-on learning in the classroom. The new lab will generate more opportunities for students, of all majors, to work with businesses both in and out of the classroom. It will also streamline the process for organizations wanting to partner with faculty and students on research projects. “We want to enhance the student experience and one way to do that is through this new experiential learning initiative,” said David Spalding, the Raisbeck Endowed Dean of the College of Business. “Giving students the opportunity to work directly with businesses will further develop the skills they’re learning in the classroom and give them a competitive edge in their job search and after graduation.” Students will have the opportunity to work on live case studies, to be part of a team working to solve problems or conduct research for businesses, as well as support existing or launch new entrepreneurial ideas. Depending on the nature of the project, companies will pay a fee to sponsor the students, with the support of faculty, for the work. Judi Eyles, interim director of CyBIZ Lab, works directly with businesses interested in the services CyBIZ Lab has to offer. “Students bring a different perspective that the companies value. This experience allows students to demonstrate their skills and abilities to companies that may very well be potential employers,” Eyles said. “It also 24

gives faculty an opportunity to engage with businesses and they can bring that experience to the classroom and their research.” C.H. Robinson, a third-party logistics provider based in Minnesota, is an initial founding sponsor for CyBIZ Lab. The company values the expertise faculty and students provide for research and it knows working with students is a good recruiting tool. ISU students will be part of a project this spring to analyze how C.H. Robinson can differentiate between price and the value of the service it provides for its customers. Mark Walker (’79 Industrial Administration), a senior vice president who serves on the lab’s advisory board, hopes the project will lead to new ideas for supply chains that

W H AT I ’ V E L E A R N E D O V E R T H E Y E A R S I S T H AT E X P E R I E N C E I S R E A L LY T H E B E S T M E A N S T O T R U LY G R A S P A N D U N D E R S TA N D A C O N C E P T.

MARK WALKER will benefit the company’s relationship with clients. The Iowa State alum knows the CyBIZ model also will give students the skills they need to compete in the workforce. “What I’ve learned over the years is that experience is really the best means to truly grasp and understand a concept,” Walker said. “CyBIZ Lab is designed to give students a current business problem to solve. I think having that problem in front of them forces them to apply all their learned skills simultaneously.” Interested businesses can learn more about CyBIZ Lab at www.business.iastate.edu/cybizlab. n

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SHIMKAT NAMED SBDC STATE DIRECTOR LISA SHIMKAT, A REGIONAL DIRECTOR FOR THE IOWA SMALL BUSINESS DEVELOPMENT CENTER, ASSUMED HER NEW ROLE AS STATEWIDE DIRECTOR OF THE ORGANIZATION ON AUGUST 18. SHE SUCCEEDS JIM HECKMANN, WHO RETIRED IN FEBRUARY.

SBDC’S IMPACT ON IOWA The Iowa Small Business Development Center is part of the College of Business. The SBDC offers free, confidential business advice to entrepreneurs and existing businesses with 500 or fewer

For nearly 10 years, Shimkat has

Small Business Development Center

employees. In 2013, SBDC worked

worked in the SBDC’s North Central

continues to be a critical component of

with more than 2,500 clients, held 140

Iowa region based in Fort Dodge,

our economic development efforts,”

training workshops, and helped start

counseling clients looking to start

said President Leath. “I’m very pleased

more than 200 new businesses. Those

or expand an existing business. Her

to have Lisa on board to not only

clients added or retained 1,547 jobs

efforts helped her center earn the 2014

lead the SBDC network and ensure

and raised nearly $49 million in capital

Small Business Development Center

we’re providing excellent service

for their Iowa businesses. SBDC has 16

Excellence and Innovation Award from

to our clients, but also build strong

regional offices across the state. n

the U.S. Small Business Administration.

relationships with our partners.”

Shimkat also was recognized in 2010

Shimkat wants to make Iowa a model

by the SBDC’s national organization

for small business success.

as Iowa’s “State Star” for her contributions to the SBDC’s economic

“I’m excited to continue the mission of

development efforts and commitment

the Iowa Small Business Development

to small businesses. She completed

Center at the state level,” Shimkat

both her undergraduate and MBA

said. The SBDCs are a great example

degrees at Iowa State University.

of carrying Iowa State’s land-grant mission of research, education, and

In January, President Steven Leath

service throughout the state of Iowa.

announced the creation of the Office of

I’ve seen firsthand the impact our

Economic Development and Industry

centers have, and I’m eager to help

Relations, to make it easier for the

build on our successes.”

“

The SBDCs are a great example of carrying Iowa State’s land-grant mission of research, education, and service throughout the state of Iowa. ”

LISA SHIMKAT

university’s external partners to access Iowa State’s economic development

Spalding says Shimkat understands

resources. As SBDC statewide director,

the SBDC’s mission. “Lisa is an

Shimkat will work closely with Michael

outstanding choice as the next

Crum, senior policy adviser and head

statewide director for Iowa’s Small

of the Office of Economic Development

Business Development Center,” he

and Industry Relations, as well as David

said. “Her years of experience as an

Spalding, Raisbeck Endowed Dean in

award-winning regional director make

the College of Business.

her well equipped to move the SBDC forward and strengthen its position

“As we work to reorganize and

as a valuable economic development

centralize the university’s economic

resource for Iowa.”

development enterprise, the Iowa

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SUPPLY CHAIN FUNCTIONAL EXPERTISE OFFERS A LEADERSHIP PATH FOR WOMEN

Beth Ford (’86 Management) is the executive vice president, chief supply chain and operations office at Land O’Lakes in Arden Hills, Minnesota. She wrote this piece, which appeared in the Wall Street Journal’s CIO Journal in February.

MARY BARRA’S ASCENT TO CEO at General Motors was a milestone in many ways, including marking the first time a woman had risen to the top at a Big Three automaker. It also serves as an example of the importance that broad functional expertise plays in modern corporate leadership. Ms. Barra’s career path is noteworthy for its progression of assignments across a wide spectrum of functional areas including manufacturing and, most recently, product development, purchasing, and supply chain. GM selected Ms. Barra as CEO not necessarily because it is more enlightened than others, but because it had a candidate with the right breadth of relevant functional expertise to navigate this modern era’s challenges and opportunities. Supply chain management as a proving ground for senior leadership roles, including CEO, is increasingly evident, with high profile examples that include Apple Inc. CEO Tim Cook and Intel Corp. CEO Brian Krzanich. One reason for this phenomenon is that supply chain leaders typically have integrated

experience across very different and key functions in purchasing, manufacturing, engineering, strategy, and logistics and often oversee new product launches and customer service. This unique set of functional skills is increasingly important to corporate competitiveness. The role itself has undergone a fairly dramatic transformation over the last several decades as the velocity of business has necessitated that supply chain functions operate in partnership with traditional business units in lieu of the old “service provider” model. In fact, many of the most dynamic companies in the world including Amazon.com Inc., Intel, and Apple have built many of their competitive advantages around deeply integrated supply chain operations. In these companies, supply chain is as much about innovation as cost control. Given the significance the chief supply chain officer, or CSCO, role can play within a corporate structure, and the potential leadership path it can provide, the number of women currently serving in the function isn’t compelling. A recent study by industry

group SCM World found that less than five percent of Fortune 500 Global companies with physical supply chains are headed by a woman. On a more positive note, the pipeline for future CSCOs is much richer in terms of gender balance, with women making up approximately 37 percent of college students majoring in supply chain disciplines. At the same time, there is clearly a desire by many to continue to achieve diversity within senior corporate levels. Beyond equity arguments, it is simply good business – as Land O’Lakes CEO, Chris Policinski, said recently, “One of the keys to our current success is having more diversity in our senior leadership team. Continuing this increased representation across our corporate structure is critical, as our future growth is directly linked to serving an ever broader customer base.” Although these factors make it entirely possible that the number of women in the CSCO role will improve over the next decade, it may not happen in a meaningful way unless women coming into the field recognize the necessity for

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core line leadership experience and broad functional expertise. A recent report published by McKinsey & Company noted the importance line level experience plays in career advancement for women generally. Annette Clayton, CSCO at Schneider Electric SA, agrees, “Line leadership is crucial. If I could point to a single thing, it is the ability to walk through a factory, know what I am looking at, and drive decisions based upon actual experience. It is the ability to meet with customers and understand how we can help resolve their pain points.” Seeking out rotational or cross functional assignments – even if the job spec appears to stretch beyond your current résumé – is also key for broadening technical skills and competencies. Achieving these critical components in most companies requires mobility and flexibility, particularly in the early to middle years of a career. The pursuit of broad functional expertise can require geographic, positional, and company movement and line leadership roles tend to have taxing schedules and demands. A survey of CSCO résumés paints a clear picture

IOWA STATE UNIVERSITY

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of this type of career fluidity. My path is not dissimilar—over the course of more than 25 years in various supply chain and operations functions, I have served in roles as varied as a night shift production line foreman to crude oil trading analyst, relocated eight times, worked for seven companies across six industries, and pursued an MBA in finance to round out my core skills. The yield for this mobility was credible leadership experience, responsibility at various times for each function within the supply chain, as well as IT, HR, and strategy, and now a role that I love at Land O’Lakes, a Fortune 200 Food Production and Agribusiness Company. No doubt, this level of career fluidity has traditionally been more problematic for women than men – particularly when factoring in the need to balance family commitments. These factors are often cited as reasons why some women shift into staff roles or fail to pursue assignments that broaden their technical skills in the early to middle of their careers, greatly limiting their overall opportunities for advancement.

A RECENT STUDY BY INDUSTRY GROUP SCM WORLD FOUND THAT LESS THAN FIVE PERCENT OF FORTUNE 500 COMPANIES WITH PHYSICAL SUPPLY CHAINS ARE HEADED BY A WOMAN.

How then to prevent the 37 percent from dwindling to five percent a decade from now? While there are no magic bullets, those seeking advancement must be active stewards of their own careers – which means recognizing the skills required to achieve a senior leadership role and not self-selecting out of the pool of high potential candidates. At the same time, senior leaders have a critical role to play: they must sponsor high potential women, which means actively working to position them effectively; understanding the challenges presented; working to make transitions as accessible as possible; avoiding assuming that challenging roles would not be attractive to women with family responsibilities; and being direct in counseling about the importance of these moves on career trajectory. I believe in the 37 percent—the time is now. n

DOES YOUR WINE GLASS AFFECT HOW MUCH YOU POUR? Pouring a glass of wine is rarely an exact measurement, especially in a social setting. Just how much one pours is influenced by a variety of environmental factors, researchers at Iowa State and Cornell universities discovered, and that could have serious consequences when it comes to overconsumption. In the study, published in Substance Use and Misuse, participants were asked to pour what they considered a normal drink using different types of glasses in various settings. The results show how easy it is to overdo it. Participants poured about 12 percent more wine into a wide glass than a standard one. The same was true when holding a glass while pouring compared to placing the glass on a table. “People have trouble assessing volumes,” said Laura Smarandescu, assistant professor of marketing. “They tend to focus more on the vertical than the horizontal measures. That’s why people tend to drink less when they drink from a narrow glass, because they think they’re drinking more.”

JUST HOW MUCH WINE ONE POURS INTO ONE’S GLASS IS INFLUENCED BY A VARIETY OF ENVIRONMENTAL FACTORS. Researchers tested six environmental cues to understand how each influenced the amount poured. The contrast between the glass and color of the wine also made a significant difference. For example, when pouring white wine into a clear glass, participants poured 9 percent more than pouring red, which had a greater contrast to the glass. Wine is different from alcoholic drinks that are served in a bottle or measured with a shot glass, making it easy for individuals to overpour. Doug Walker, assistant professor of marketing and lead author of the study, said it’s easy to lose track of how many drinks you’ve had if you are pouring more than you realize. 28

“If you ask someone how much they drink and they report it in a number of servings, for a self-pour, that’s just not telling the whole story. One person’s two is totally different than another person’s two,” Walker said. Brian Wansink, director of the Food and Brand Lab at Cornell, offered some easy tips to help people drink less. “If you want to pour and drink less wine, stick to the narrow wine glasses and only pour if your glass is on the table or counter and not in your hand – in either case, you’ll pour about 9—12 percent less,” he said. “I think this helps us understand drinking behaviors to see how these cues influence individual pours. When you add this information about how people pour to survey data of how much people drink, then you have a more complete picture about how people drink,” Smarandescu said. Eliminating all bias to guarantee a perfect serving size is not practical, but making wine drinkers aware of environmental factors can limit the extent to which they overpour. To better understand this impact, researchers asked participants to identify which factors may have caused them to pour too much. The factors that ranked highest, such as the wide glass, were those with the greatest influence on pouring. Researchers add that even though participants could identify those environmental factors, it does not suggest they knew how much more they were pouring to accurately track their alcohol intake. n

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andreea kiss gave each team in her business management class five dollars and four weeks to create a successful business concept.

THE FIVE-DOLLAR BUSINESS IDEA Andreea Kiss, assistant professor of management, wanted to give her business management students a hands-on entrepreneurial experience rather than a scenario-based simulation. So she presented her business management class with a challenge: they had four weeks to create a concept that would make as much money as possible and avoid bankruptcy. But there was a catch; the initial investment would be no more than five dollars. “Most entrepreneurs start very small, with a very limited amount of resources, and that’s what I tried to emphasize to students,” Kiss said. “I think the very essence of entrepreneurship is working under conditions of uncertainty and ambiguity with a limited amount of resources.” Not only did Kiss get a return on her investment, several local charities benefited from the thousands of dollars raised through the challenge. Nearly $14,000 was donated to veterans’ organizations, food banks, shelters for homeless youth, and other groups.

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Students found investors and customers were more willing to support their effort if it benefited a charitable organization. Some of the successful student projects included: STORY COUNTY FREEDOM FLIGHT: students organized a 5k run that attracted 75 participants and raised more than $1,600 for the organization that sends veterans to Washington, D.C. to visit the war memorials. It costs around $650 to send one Story County veteran. CHILDREN’S CANCER CONNECTION: students partnered to make personalized Christmas ornaments featuring the organization’s logo, then selling them and raising $300 for this group that provides programs to Iowa children diagnosed with cancer. IOWA HOMELESS YOUTH CENTERS: one team joined other college and high school students to build a giant Lego® man entirely out of cardboard for Reggie’s Sleepout, a Des Moines event that raises money and awareness for homeless youth in Iowa. Working as part of a larger student initiative, the group helped raise $7,500. COLLEGES AGAINST CANCER: students coordinated with the Iowa State chapter of Colleges Against Cancer to sell 1,600 pink mugs at four Campustown bars. Those who purchased a mug received a drink discount. This effort raised $4,000 for breast cancer research.

Pappajohn Center for Entrepreneurship at Iowa State: students offered to advertise local businesses’ products or services during the team’s class presentation. The group contacted 11 area businesses, created nine advertisements, and raised $395. The money will benefit other student entrepreneurs who win business competitions sponsored by the Pappajohn Center. While not every project was a home run, Kiss says students still learned valuable lessons about researching a target audience and product development, as well as the challenges of making a pitch to a potential customer or investor. “I think one of the first lessons they learn is that selling something is relatively difficult. It takes a certain art to describe your product in a positive light and emphasize the benefits that the customer might gain from purchasing the product,” Kiss said. “Students learn to explain their idea, why they’re qualified to execute it, how much money they need, and what can the investor gain by investing in you.” n

FA C ULTY A ND STA FF NEWS

College Welcomes New Faculty Hires The College of Business welcomed 13 new faculty and staff hires this year. The faculty hires are among the 105 tenured or tenure-track hires joining Iowa State this fall. Many, including two from the College of Business, are a part of President Leath’s High-Impact Hires Initiative, which supports faculty hiring in areas of strategic importance to the university and Iowa. New College of Business faculty include, in alphabetical order: Tony Craig, assistant professor of sup-

Patrick Kreiser, Bob and Kay Smith

Beatriz Pereira assistant professor of

ply chain management. Earned PhD

Fellow in Entrepreneurship and associ-

marketing. Earned PhD from the Ross

and a master of engineering from the

ate professor of management. Earned

School of Business at the University of

Massachusetts Institute of Technology.

PhD and MBA from the University of

Michigan and an MS and BS in busi-

He earned his BS with distinction in

Alabama and his BA from John

ness administration from the University

computer engineering from Iowa State.

Carroll University.

of São Paulo.

Lei Gao, assistant professor of finance.

Sam Lee, assistant professor of

Mike Prindle, lecturer of accounting.

Earned PhD in finance from the Terry

accounting. Earned PhD from the

Earned a master’s in management and

College of Business at the University of

University of Southern California,

accounting degree from the University

Georgia, an MS in industrial math from

MBAs from Southern Methodist

of Mary, as well as a BS in business

Michigan State University, and a BS in

University and Seoul National

from the University of Montana.

computer science from Peking

University in South Korea, where he

University in Beijing.

also earned a BBA.

Jake Holwerda, assistant professor of

Jenny Lin, adjunct assistant professor

finance from the Sauder School of

management. Earned PhD and MS in

of marketing. Currently completing PhD

Business at the University of British

human resource studies, as well as a

at Iowa State, she also holds

Columbia, an MS in real estate man-

BS with honors in industrial and labor

an ISU MBA and an ISU MS in

agement from the National University

relations from Cornell University.

biomedical science.

of Singapore, and a BA in economics

Tyler Jensen, assistant professor of

Joonwook Park, assistant professor of

finance. Earned PhD in finance from

marketing. Earned PhD in marketing

Drew Zhang, assistant professor of

the David Eccles School of Business at

from the Smeal College of Business at

management information systems.

the University of Utah. He also holds a

Pennsylvania State University, an MS

Earned PhD in information and com-

BS in finance from the University

in marketing research from the

puter science and engineering from the

of Nebraska.

University of Wisconsin-Madison, and

University of Michigan, an MS in infor-

a BA in business from Korea University.

mation systems from Fudan University

Jennifer Kreiser, senior lecturer of

Part of the High-Impact Hires Initiative

in China, and a BE in information sys-

accounting. Earned master of tax

in the area of big data.

tems from Tongji University in China.

Hua Sun, assistant professor of finance. Earned PhD in real estate

from Nankai University in China.

accounting and a BS in commerce and

Part of the High-Impact Hires Initiative

business administration from the

in the area of big data.

University of Alabama.

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FA C ULTY A ND STA FF NEWS

R E C E N T S TA F F H I R E S

RECENT PROMOTIONS

Sarah Adams, recruiter and international programs

Jennifer Blackhurst has been promoted to professor of

coordinator in Undergraduate Programs. She earned

supply chain management.

bachelor’s degrees in political science and journalism and mass communication and a master of public

Yoshinori Suzuki has been promoted to professor of supply

administration, all from Iowa State.

chain management.

Melanie Gella, career coordinator in Business Career

Dengpan Liu has been promoted to associate professor of

Services. Gella will be working with finance and

information systems, with tenure.

business economics majors. She has a bachelor’s degree in finance and international business and an

Tammy Stegman has been promoted to assistant director of

MBA, all from Iowa State.

Business Career Services.

Sabrina Shields-Cook, graduate adviser in Undergraduate Programs. Shields-Cook was previously a communications manager at ISU’s

F A C U LT Y A N D S TA F F H O N O R S

Institute for Transportation. Jim McElroy, Raisbeck Professor of Business and Diana Sloan, director of graduate marketing and alumni

University Professor in Management, has been honored

relations in Graduate Programs. She is a graduate of

by the Spears School of Business at Oklahoma State

Iowa State’s MBA program and holds a bachelor’s

University as one of its “100 graduates over the past 100

degree in international relations from the Monterrey

years who exemplify the Oklahoma State University and

Institute of Technology and Higher Education.

Spears School of Business spirit.” McElroy earned his PhD from Oklahoma State in 1979 and joined the ISU faculty soon after. He has published more than 80 refereed journal articles and served as a department chair and associate dean in the College of Business.

THREE COLLEGE OF BUSINESS FACULTY AND STAFF WERE HONORED AT THE UNIVERSITY AWARDS CEREMONY IN SEPTEMBER:

Russ Laczniak, chair of the management and marketing departments and John and Connie Stafford Fellow in Business, and Terry Childers, professor emeritus of marketing, and 11 co-authors have been voted as the recipients of

JAN DUFFY, adjunct instructor of accounting, received the Louis Thompson Distinguished Undergraduate Teaching Award, which recognizes an outstanding teacher who is dedicated to helping undergraduate students.

the Thomas C. Kinnear/Journal of Public Policy & Marketing Award for their article “From Nutrients to Nurturance: A Conceptual Introduction to Food WellBeing.” The award honors articles published in the journal that have made a significant contribution to the understanding of marketing and public policy issues.

MARK PETERSON, director of graduate career services, received the Professional and Scientific Staff Excellence Award for career accomplishments at Iowa State.

Qing Hu, associate dean for graduate programs and research and the Union Pacific Professor in Information Systems, was ranked among the top 100 researchers by the Association for Information Systems earlier this year. In

SARAH WILSON, classification officer for undergraduate programs, received the Professional and Scientific Outstanding New Professional Award for early career accomplishment. Wilson recently accepted a promotion as the director of student services in ISU’s College of Human Sciences.

a survey of six of the top information systems journals from 2011 to 2013, Hu came in tied for 56th place. Mark Peterson, director of graduate career services, completed his two-year term as president of the MBA Career Services and Employer Alliance, and his second three-year term on its board of directors, in June. He has been reappointed to the board of directors as president emeritus and will co-chair its Employment Standards Committee.

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FA C ULTY A ND STA FF NEWS

David Hunger 1941–2014 David Hunger, professor emeritus of management, passed away on April 10, 2014. Hunger spent 23 years in the College of Business before retiring in 2006. Brad Shrader, Eucher Faculty Fellow in the College of Business, delivered this tribute in honor of Dr. Hunger at this year’s ISU Memorial Day Ceremony. This has been edited for length.

Dr. Hunger was instrumental in helping build the College of Business.

Dr. John David Hunger was the first person I met at Iowa State University. He was the first chair of the Department of Management in 1984 and hired me in June of that year. He died at the age of 72 at Country Manor under the care of Saint Cloud Hospital Hospice in Saint Joseph, Minnesota. His early death was the result of stomach cancer. David was born May 17, 1941, in New Kensington, Penn., to Jack and Betty (Carey) Hunger. He married Betty Johnson on August 2, 1969, in Cincinnati, Ohio. He graduated from Bowling Green State University in Bowling Green, Ohio, in 1963, and went on to serve as a Captain in U.S. Army Intelligence during the Vietnam War. After the war, he received a PhD from The Ohio State University. Dr. Hunger taught at Baldwin Wallace College, University of Virginia, George Mason University, and, most important, at Iowa State University – where he was professor emeritus and where he taught for 23 years. Most recently, he was the Strategic Management Scholar in Residence at Saint John’s University in Collegeville, Minnesota. Along with co-author Thomas L. Wheelen, he authored a variety of widely acclaimed and widely used strategic management textbooks. He was a member of numerous research organizations, including past president of the North American Case Research Association, the Society for Case Research, and the Iowa State University

Press Board of Directors. He also served as a vice president of the U.S. Association for Small Business and Entrepreneurship. He was elected a Fellow of the Teaching and Academic Authors Association and of the North American Case Research Association. He is survived by his wife Betty and his four daughters: Kari, Suzi, Lori, and Merry, as well as five grandchildren. Dr. Hunger was instrumental in helping build the College of Business. He enhanced the college’s reputation with his very visible textbook, Strategic Management and Business Policy, co-authored with Thomas Wheelen, which is now in its 14th edition. This text was voted the top quality text one year by the Academy of Management. David helped develop what is now the university-wide entrepreneurship curriculum. He also led the college’s efforts in case writing with the Czech and Slovak republics. The groundwork for this project took place in 1993 immediately after these two countries’ velvet divorce, and their leaving Soviet control while moving toward privatization. Dr. Hunger became a founding member of the Czech Association of Case Research and Application. The first case I wrote as a new faculty member was with David Hunger. It dealt with Walt Disney Productions and the governance issues that company faced in 1984. The case was widely published and earned the Case Research Journal “classic case” distinction. The success of this case was clearly due to Dr. Hunger’s mentorship. David was my boss, mentor, colleague and co-author, and friend. We in the College of Business miss him very much. n

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COLLEGE OF BUSINESS 2014 HOMECOMING AWARDS The College of Business honored four individuals and one valuable corporate partner at the 83rd Honors and Awards Ceremony on October 10. C I TAT I O N O F A C H I E V E M E N T A W A R D

Established in 1985 to honor distinguished alumni who have demonstrated outstanding achievement in life beyond the campus. Jerry Ivy (’53 Industrial Administration) is the president of Auto-Chlor System. Auto-Chlor System is the national leader in the production and installation of Energy Star-certified dish machines. The company also manages the distribution, maintenance, and replacement of restaurant-scale dish machines, as well as distributing the chemicals and other residual supplies necessary for the operation of the equipment. Under Ivy’s leadership, the company has expanded from a small dishwashing company into a national business, diversifying from dishwashing into hard surface cleaning, housekeeping, floor care, and laundry. Though production and operations have been in the same place for 75 years, the Auto-Chlor System has expanded nationwide to more than 70,000 customers. J O H N D . D E V R I E S S E R V I C E AWA R D

Established in 1985 to recognize individuals who have demonstrated outstanding service to the College of Business. David Kingland (’80 Industrial Administration) has displayed an impressive level of service to the College of Business and the entire Iowa State University community. He is the founder, chief executive officer, and chair of the board of directors of Kingland Systems in Clear Lake, Iowa.

For 10 years, his firm has had a major presence in Campustown, during which time the company has employed more than 1,000 students and repeatedly been ranked the number one intern employer at Iowa State. The company is leading the Campustown revitalization project currently underway. Kingland served on the business dean search committee in 2013. A member of the college’s Dean’s Advisory Council since 2009, he assumed the role of chair in 2010. He and his wife Deb (’80 Child Development) made a major gift that named the Supply Chain and Information Systems Suite in the Gerdin Business Building in 2008. R U S S A N D A N N G E R D I N AWA R D

Established in 2009 to honor contributions from valuable corporate partners or individuals who are not College of Business graduates. The award honors Russ and Ann Gerdin, who made the lead gift for the Gerdin Business Building. Neither attended Iowa State. Aegon/Transamerica provides insurance, pensions, and asset management in more than 25 countries. With more than 27,000 employees, its U.S. headquarters are based in Cedar Rapids, Iowa. Over the past decade, the Aegon/Transamerica Foundation and its associated companies have contributed more than $1 million to the College of Business. Its funding led to the creation of the Aegon/Transamerica Trading Simulation Lab in the Gerdin Business Building. Aegon also funded and collaborated in fixed income classes in the college where students interact with Aegon portfolio managers. Aegon also has provided scholarships for more than 40 College of Business students, created 177 co-op or internship opportunities, and made 24 full-time hires in the past nine years. Labh and Tahira Hira were also recipients of the Russ and Ann Gerdin Award. For more details on their nomination, see page 16. n

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DEVELO PM ENT

Cherishing Iowa State Ever since I accepted my position with the Iowa State University Foundation, I am often asked to identify the biggest difference between my old job and new.

You have a passion, loyalty, and spirit for Iowa State that you have and will forever keep close while moving forward.

My response usually surprises people: hugs. While silly and certainly not profound, my answer is true in the word’s most commonly recognized definition of “an embrace”; Iowa State’s alumni and supporters are a family, and many, I have discovered, hug family. While I appreciate the hugs and will readily return the gesture, I have more recently found the depth of my one-word answer in a definition for hug that is less commonly recognized. The difference I have found at Iowa State is that you, our alumni and supporters, have a passion, loyalty, and spirit for Iowa State that you have and will forever keep close while moving forward. You hug Iowa State University even when your journey may have put time, distance, and life between you. My return to Iowa State has given me a unique opportunity to view my favorite educational institution through a more mature lens, appreciating that which I was unable to in my years as a student. What I failed to see then was the complexity of a successful educational program. Without each part, the whole fails. And what I

have come to discover is the important part that you play in the strength of our institution. You are our backbone. In my many years of development work, I have seen no greater example of generosity than from Iowa State supporters. Whether living down the street from campus or halfway around the world, you are proud to be a Cyclone and ready to stand up for your school. The Iowa State community is powerful, and today, I invite you to put your passion, loyalty, and spirit for Iowa State to work. Now I know, this is where you stop reading. “She is going to ask for something,” you’re thinking. But hold on. Margaret Mead once said, “A small group of thoughtful people could change the world. Indeed, it’s the only thing that ever has.” Believe it or not, my job is not to ask for your gifts, but is instead to connect your desire to improve and support your cherished Iowa State with others who want to do the same. Your hug alone is meaningful and valuable, but imagine the power of all our hugs put behind the same vision. It has been a great pleasure to meet so many of you this past year, and I look forward to working with many more of you in the years to come. Let’s hug Iowa State together! n

Azure Christensen (’01 Liberal Studies) joined the ISU Foundation in 2013 as its senior director of development for the College of Business. Before Iowa State, she worked in the Des Moines area in nonprofit event planning and development. Contact Azure at 515 294-1586 or by e-mail at azure@iastate.edu.

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DEVELO PM ENT

Tjadens Support International Experiences Kurt (’85 Accounting) and Kristyn (’85 Speech Communication) Tjadens’ stories started at Iowa State, and while life has taken them around the world, they have made it a priority to stay connected to their origins. As the next generation of Tjadens continues their Cyclone legacy, they have pledged to create more opportunities for students, like their son, to travel abroad. Kurt is the chief financial officer for HNI corporation in Muscatine, Iowa. The corporation is one of the leading office furniture and hearth companies in the world. He sees firsthand how Iowa’s economy has become integrated with the rest of the world. Studying abroad wasn’t an opportunity that was available to the Tjadens during their time at Iowa State. During Kurt’s career, however, the Tjadens spent a total of 12 years living abroad in four different countries in Asia. These experiences have shown them that living and traveling abroad has a valuable impact on a person’s perspective. “Being able to interact with people from all over the world, you realize that the world isn’t so big after all,” said Kristyn. The Tjadens recognize that an accessible international study and travel program is a significant asset in higher education. Kurt said that when he hires for his company, this is one of the key experiences he seeks out. “A study abroad program is important and keeps the university competitive. It is a valuable part of the experience of college.” said Kurt. Today, only 4 percent of College of Business students take part in a study abroad program, despite 80 percent of them expressing an interest when they arrive on campus. Since arriving last fall, Raisbeck Endowed Dean David Spalding was quick to set growth in international study opportunities as a priority.

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COLLEGE OF BUSINESS

PROSPECTUS

“Once David came on board, we saw his vision and felt a strong connection. We are blessed to be able to help David with his goals and offer this gift,” said Kurt. The Tjadens’ gift will help support the college’s international programs and help allow it to hire, for the first time, a staff member dedicated to marketing, promotion, and logistical issues surrounding student study abroad opportunities. “ISU has been a significant part of our lives for a long time,” Kurt said. “Iowa State is where we met, and we have worked to maintain a strong bond with the university.” The Tjadens have continued a strong alumni connection despite the challenges of spending years living abroad. Thanks to the Tjadens and their gift to advance international offerings, Iowa State University can provide a comprehensive education to tomorrow’s business leaders. “All Iowa State students deserve an opportunity to understand the value of the experience of living and studying abroad,” said Kristyn. n

KURT AND KRISTYN TJADEN RECENTLY MADE A GIFT TO SUPPORT INTERNATIONAL PROGRAMS IN THE COLLEGE OF BUSINESS. THE TJADEN FAMILY, LEFT TO RIGHT: DANIEL, ANDREW (“AJ” – A JUNIOR AT IOWA STATE), KRISTYN, CLARE, KURT, MICHAEL, AND MATTHEW.

DR . C HA R LES HA NDY

From the Desk of Founding Dean Charles Handy In times of transition – such as those the College of Business recently experienced with the retirement of Labh Hira and the welcoming of David Spalding – it is natural to reflect on our past and celebrate just how far we’ve come.

The college’s current strong position is in contrast with the circumstances in the late 1970s.

The strong position the College of Business has built prior to its most recent leadership transition is in contrast with the circumstances surrounding Iowa State’s business program in the late 1970s. Some of you reading this will remember us as a department called Industrial Administration (I Ad) in the College of Sciences and Humanities (S&H), now called Liberal Arts and Sciences. At that time, we had an ambition to become a freestanding college of business. I had just chaired a search committee for a new leader, one to lead us to the “promised land.” A candidate had been found and an offer made. We were hopeful. Our hopes were soon shattered. Our candidate told me he feared that he would fail to achieve our goal, and turned us down. He went into no greater detail. At any rate, time was of the essence. S&H Dean Wallace Russell was about to leave on a summer sabbatical, so he needed to make a move. He asked if I would fill in as a temporary department chair for I Ad. I agreed, and as the saying goes, “I never looked back.” It was Dean Russell who first suggested the possibility of school status for our business program. Whether he saw it as a means to maintain control of our program – with more budget resources at his

disposal – or felt we needed a period to “practice” as a separate entity before we became a college, I do not know. I viewed it as the latter and sold it to the department faculty on that basis. A committee entitled “The Industrial Administration Long Range Planning Committee” was formed. By May 1979, we had developed a 45-page report that recommended the future administrative direction for the Department of Industrial Administration. This recommendation was, of course, school status. Dean Russell wasted no time in establishing another committee to study our report. At the close of 1979, the committee recommended that the Department of Industrial Administration become a school within the College of Sciences and Humanities, effective September 1, 1980. During the four-year life of the School of Business Administration, we developed plans to become a college. As stated above, I’m not sure how Dean Russell felt about the move but, as things turned out, that became an unnecessary consideration. During that four-year period, Dean Russell left for a position at the University of South Florida. This gave us an opportunity to push for our business college. During the search for a new S&H dean, we presented our position. Four of the five finalists supported our position and the selected candidate, William Kelly, was one of the four. We became a college on July 1, 1984. Ah yes, life is good. For proof, just reflect back on the situation that existed in 1978. n

VOLUME 30 NUMBER 1

FALL 2014

WWW.BUSINESS.IASTATE.EDU

COLLEGE OF BUSINESS

Administration David P. Spalding Raisbeck Endowed Dean

Ronald J. Ackerman Director, Graduate Admissions

Mark S. Peterson Director, Graduate Career Services

Qing Hu Associate Dean, Graduate Programs and Research

Diann L. Burright Director, Undergraduate Programs

Abhijit Rao Director, Communications Center

Danny J. Johnson Associate Dean, Undergraduate Programs

Steven T. Carter Director, Pappajohn Center for Entrepreneurship

Daniel J. Ryan Director, Marketing and Alumni Relations

Frederick H. Dark Chair, Department of Accounting Chair, Department of Finance

Azure S. Christensen Senior Director of Development

Lisa M. Shimkat Director, Small Business Development Center

Joey F. George Director, PhD Program

Diana Sloan Director, Graduate Marketing and Alumni Relations

Cory M. Hanson Director of Development

Kathryn K. Wieland Director, Business Career Services

Russell N. Laczniak Chair, Department of Management Chair, Department of Marketing Sree Nilakanta Chair, Department of Supply Chain and Information Systems

Soma Mitra Academic Fiscal Officer

Dean’s Advisory Council David J. Kingland ’80, Chair President and CEO Kingland Systems

Beth E. Ford ‘86 Executive Vice President, Chief Supply Chain and Operations Officer Land O’Lakes, Inc.

Ronald D. Banse ‘75 Assistant General Auditor Union Pacific Corporation

Michael J. Gerdin Chairman and CEO Heartland Express, Inc.

Kelley A. Bergstrom ‘65 President Bergstrom Investment Management, LLC

Peter H. Gilman ‘86 President and CEO Carbry Capital, Inc.

Gregory S. Churchill ‘80 Executive VP, International and Service Solutions, Retired Rockwell Collins Brenda J. Cushing ‘86 Executive Vice President and CFO Athene USA

Cara K. Heiden ‘78 Co-President, Retired Wells Fargo Home Mortgage

G. Steven Dapper ‘69 Founder and Chairman hawkeye | GROUP

Daniel J. Houston ‘84 President, Retirement and Investor Services Principal Financial Group

John D. DeVries ‘59 CEO, Retired Colorfx

Richard N. Jurgens ‘71 Chairman, CEO, President, Retired Hy-Vee, Inc.

Jerald K. Dittmer ‘80 President and Executive Vice President The HON Company and HNI Corporation

Michael F. McBreen ‘88 Senior Vice President, Global Sourcing and Product Development Collective Brands, Inc.

Nancy K. Dittmer ‘84 Managing Director Verisight, Inc.

Donald J. Pearson Lead Regional President Wells Fargo

Curt E. Espeland ‘86 Senior Vice President and CFO Eastman Chemical Company

IOWA STATE UNIVERSITY

Craig E. Hansen ‘80 Senior VP, Secretary, Treasurer Holmes Murphy

COLLEGE OF BUSINESS

Craig A. Petermeier ’78 President and CEO, Retired Jacobson Companies

PROSPECTUS

Suku Radia ‘74 President and CEO Bankers Trust Ann Madden Rice ‘79 CEO University of California, Davis Medical Center Randal J. Richardson ‘79 President Vi Living Steven T. Schuler ‘73 Executive Vice President and CFO Federal Home Loan Bank of Des Moines John H. Stafford ‘76 Vice President, Global Business Services, Retired General Mills, Inc. Mark E. Stoering ‘84 President and CEO Xcel Energy Jane E. Sturgeon ‘85 CEO Barr-Nunn Transportation, Inc. Kurt A. Tjaden ‘85 Vice President and CFO HNI Corporation Mark A. Walker ‘79 Senior Vice President C.H. Robinson Worldwide, Inc.

2200 Gerdin Business Building Ames, IA 50011-1350

Including ISU as beneficiary of your will, life insurance policy, or retirement account is an easy way to have a greater impact on the College of Business. Whether you are young or old, wealthy or middle class, including ISU is: FLEXIBLE. Because you are not actually making a gift until after your lifetime, you can change your mind at any time. VERSATILE. You can structure the bequest in many ways, including leaving a percentage of your estate to us, ensuring family is taken care of first. CONVENIENT. You have access to your assets throughout your lifetime. REMEMBER: Telling the Iowa State University Foundation about your gift is an important step in your planning and ours.

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