Prospectus - Spring 2007

PROSPECTUS COLLEGE OF BUSINESS

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ALUMNI MAGAZINE

Experiences that Shape Lives Learning Outside the Classroom

SPRING 2007

IN THIS ISSUE ■

MBA ONLINE CAREER FAIR

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GERDIN INDUCTED IN HALL

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NEW PROFESSORSHIPS

Features

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Have Passion, Will Travel

SPRING 2007

Studying abroad means Dean . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Labh Hira

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Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan Design . . . . . . . . . . . . . . Mauck • Groves Branding and Design

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ColorFX

It changes students’ lives.

A Golden Experience

Writers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eric Dieterle Mike Ferlazzo Jeremy Galvin Charles Handy Dan Ryan Dennis Smith Photographers. . . . . . . . . . . . . . . . . . . . . . . . . . . . Alex Azparrent Bob Elbert Amy Heesch Matthew Knight Beth Romer

much more than just travel.

Internships take students on the pathway to a career—and to places they never imagined.

Up and Coming

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Iowa State’s entrepreneurship program is creating great opportunities.

Learning by Helping

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Service-learning projects benefit both student and society.

Contact College of Business Iowa State University 2200 Gerdin Business Building Ames, Iowa 50011-1350 Phone: 515 294-3656 E-mail: business@iastate.edu Web: www.bus.iastate.edu

Prospectus is prepared twice per year 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. Third-class 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, religion, national origin, sexual orientation, gender identity, sex, marital status, disability, or status as a U.S. veteran.

Inquiries can be directed to the Director of Equal Opportunity and Diversity, 3210 Beardshear Hall, 515 294-7612.

ON THE COVER

Departments

STUDENTS’ EXPERIENCES OUTSIDE THE CLASSROOM CAN BE JUST AS IMPORTANT AS WHAT THEY LEARN

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Dean’s Column Briefs Alumni News

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Faculty and Staff News

IN IT. “MY TIME STUDYING ABROAD HAS TURNED OUT

Development

TO BE ONE OF THE MOST IMPORTANT, INTRIGUING, AND ENJOYABLE TIMES OF MY LIFE,”

Dr. Charles Handy

SAID DAVID CONNER (’04 MBA). LEARN MORE ABOUT THE EXPERIENCES THE COLLEGE OF BUSINESS IS HELPING TO CREATE.

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 agency and service agency and service organization for business schools.

DEAN’S COLUMN

Experiential Learning at

Cyclones Hit the Street Running

Iowa State

ARE YOU EXPERIENCED? ONCE UPON A TIME, THIS QUESTION POSED

As a lifelong academician, I’d probably be among the last to question the value of what some dismiss as “book learning.”

The “street smarts” students get from co-ops, internships or service learning experiences can go a long way.

The textbooks, the lab simulations, the classroom lectures, the give and take of the Socratic method of teaching—all of this is the lifeblood of an intellectually rich four or five years in Ames.

What you learn and experience here will benefit you even more if it is first tested in a setting that bridges the abstract theories of academia and the concrete realities of the business world.

Concrete can be pretty hard, after all, so we all could benefit from a soft landing when launching our careers in earnest.

Think of experiential learning, then, as a parachute from the lofty Ivory Towers of Iowa State to the hard knock and tumble of the business “street,” whether Grand Avenue in Des Moines, State Street in Chicago, or, literally, Wall Street itself. These can be tough neighborhoods, so the “street smarts” students get from co-ops,

internships or service learning experiences can go a long way toward helping them to hit that street running.

During the 2005-2006 academic year, we had 574 students report internship or cooperative learning opportunities, more than we have ever had. And while each of the last several years we’ve successfully placed more and more students, these opportunities have become so popular that demand for them has increasingly outstripped supply.

Currently, nearly 300 different employers provide co-op or internship opportunities to Iowa State business students—impressive numbers, to be sure. But as word spreads among students of the advantages they gain by taking a semester or two for an experiential learning opportunity, it becomes our responsibility as educators and alumni to provide them with that opportunity.

If you’re reading this, you’re already interested in the work we do to prepare young people for the workplace in Iowa and beyond. So can your firm, organization, or government agency sponsor an Iowa State intern or co-op?

Students will get experience that prepares them to make strong contributions to their employers immediately. And you’ll get the opportunity to work with bright young people who by definition are among the most energetic, highly motivated, and self-directed of employees.

So if you’d like to tap the energy of a Cyclone at your end of the street, contact Kathy Wieland of Business Career Services at 515 294-2542, or send her an e-mail at wielandk@iastate.edu. We look forward to introducing you to what our students have to offer. ■

THE BIGGEST CHALLENGE TO A COLLEGE STUDENT SEEKING TO LAND THAT FIRST POSITION AFTER GRADUATION.

It was that age-old career conundrum: without some serious work experience under your belt, you don’t stand much of a chance of landing the job you really want. But you need a real job to gain that experience.

No longer. Oh, experience is just as important as it ever was—probably more so—but actually gaining that experience is becoming easier, thanks to the wide variety of career-enhancing opportunities that the College of Business offers its students.

Whether it is studying abroad, an internship or co-op, or entrepreneurial or service-learning experience, the knowledge gained beyond the Ames campus by Iowa State’s business students serves as a centerpiece of their résumés.

Students from every discipline in the college increasingly appreciate that classroom preparation is only part of the package when competing for the best career opportunities. Since the old industrial administration program first became a school, then the College of Business in the mid-1980s, that message has been driven home by instructors, advisers, and other mentors who, together with college administrators, have instituted programs to give Iowa State students this critical advantage.

In the mid-1990s, only 167 students undertook off-campus co-ops or internships. By the mid-2000s, that fig-

ure had increased more than threefold.

The mid-‘90s also saw the establishment of Iowa State’s Pappajohn Center for Entrepreneurship, which is celebrating its tenth anniversary this year.

As with co-ops and internships, the Pappajohn Center is helping to redefine a business education at Iowa State, winning national recognition for its efforts to give students the kind of experience you can get only by building a business from the ground up.

Finally, experiential learning in the College of Business has gone international, as hundreds of our students are seizing the opportunity to study abroad in preparation for careers in an accelerating global business environment. Together with service-learning projects that virtually any student in the college can take advantage of, these programs constitute a suite of opportunities that just might represent a student’s first step toward the executive suite.

So whether it’s flying supplies into the Amazon jungle, or helping the sick and disabled to heal on

horseback; working on an overseas acquisition, or showing a municipal agency how to decipher a new management information system, experiential learning opportunities at Iowa State help business students earn the experience, develop the confidence, and position themselves for success in that 21st-century job interview.

And now, when students hear that question—“are you experienced?”— the answer is not a matter of if, but how much. ■

Labh S. Hira, Dean 2

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“It was going to be one of those mega-projects, and I wanted to be a part of that. I contacted the people I knew, and right

Mining

away they hired me.”

career gold IN IOWA OR OVERSEAS, IN THE PRIVATE OR PUBLIC SECTORS, A COLLEGE OF BUSINESS CO-OP OR INTERNSHIP PUTS FUTURES ON THE FAST TRACK TO SUCCESS

ou might dismiss as an overworked cliché the notion that an internship offers a “gold mine” of opportunities for undergraduate business students looking to launch their careers.

But for Alex Azparrent, it’s no cliché.

Y

Home for the summer in his native Cajamarca, Peru, after his junior year at Iowa State, the transportation and logistics major had heard of an American engineering and construction firm that was undertaking an expansion project at the second largest gold mine in the world. Using his enterprising instincts, Azparrent introduced

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himself to the right people, made the sale, and landed a job in the procurement and accounting department of the Bechtel Corporation, doing billing for materials arriving at the job site.

Azparrent had already met Director of Business Career Services Kathy Wieland, so he was aware of the advantages an internship offered for students looking to get a leg up in advance of that critical first job. But even though Wieland told him that his experience that summer billing materials for Bechtel would qualify as an internship, Azparrent decided instead to get two legs up, and took advantage of that initial exposure to the firm to solicit—and land—a second internship with Bechtel before graduation.

“I already knew people in Bechtel, and I knew they had a very important project out of Lima,”

Azparrent says. “It was going to be a gas facility with a pipeline to the coast, one of those mega-projects, and I wanted to be a part of that. I contacted the people I knew, they put me in touch with the people in Houston, and right away they hired me.”

This time, not only did Azparrent find himself working more in a trans-log career track— he was the project’s air traffic coordinator—but he also got a preview of what a Bechtel career might have in store for him.

“The source of the gas was deep in the Peruvian jungle, so access to the job site was very, very limited,” Azparrent relates. “This place was virgin Amazon rain forest—no roads and the only large-type transportation you could use was the Amazon River. The second form of access to the area was by air— those were the only two means.”

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ALEX AZPARRENT

Call the gold mine gig a “preinternship,” then: running air traffic into the rain forest, Azparrent got his feet wet with Bechtel. And he got much more, including a mentor who helped him land his first fulltime job working power projects in Bechtel’s Frederick, Maryland, office. He’s been with the firm ever since, and just got from his latest adventure: 18 months camping in the middle of the Algerian Sahara as trans-log supervisor on a project to build a compression station to pipe natural gas from Africa to Europe.

BEYOND THE COPYING MACHINE

Abby Croll’s internship with John Deere might not have quite the “Indiana Jones” atmospherics of Azparrent’s work in the Sahara or the Amazon rainforest. Nor, for that matter, did her stint with Deere lead to full-time employment with the company. But don’t tell the Rockford, Illinois, native that the summer she spent at Deere headquarters in Moline wasn’t rich with opportunities.

The 2002 graduate in accounting and finance initially considered a career in elementary education, but instead opted for pre-business once at Iowa State. And though she eventually declared an accounting

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ALEX AZPARRENT’S DRIVE AND DETERMINATION LANDED HIM TWO INTERNSHIPS AND A CAREER THAT HAVE ALLOWED HIM TO WORK ON PROJECTS ACROSS THE GLOBE.

major, Croll was still ambivalent about her ultimate career path, so she added a major in finance to her résumé as well. Besides giving her extra courses toward the 150 credit hours needed to qualify as a Certified Public Accountant, she felt, the finance major would expand her career choices.

For Croll, then, the focus and experience represented by an industry leader such as Deere was ideal for a young student still unsure of her direction.

“I was looking for a wellestablished internship program,” Croll says. “I didn’t want some place that would have you come, then not know what to do with you. I wanted something specific, so you didn’t end up doing copying or other random stuff just because they had an extra body around.”

Croll’s assignment with Deere hardly involved “copying” or other

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forms of busywork. Instead, she assumed primary responsibility for a project involving the transfer of accounting functions from one software program to another, including the direct supervision of a temporary employee.

Moreover, she discovered, Deere annually hired about 50 other interns from around the country to support their accounting and finance functions alone. And though they were located around the nation, Deere would fly those interns into Moline monthly for weeklong training sessions in presentation, public speaking, and other management-level skills, as well as exposing them to Deere’s career opportunities.

Croll eventually would decline an offer of employment from Deere.

But, she says, her exposure to corporate culture and people of all backgrounds, as well as the poise

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ALTHOUGH ABBY CROLL DID NOT END UP WORKING FOR THE COMPANY SHE INTERNED WITH, SHE FOUND THE EXPERIENCE INSTRUMENTAL IN HER CAREER PATH.

she developed in speaking and communicating in a business setting, gave her a career “tool kit” that she has taken with her to her current job as a senior tax consultant with Deloitte in Des Moines.

“My internship with Deere did a number of positive things for me,” Croll says. “The project I was assigned was tough and definitely enhanced my accounting skills,” she said. “I learned a lot about working with people and the importance of networking, but I also learned that working in industry versus public accounting was not the right fit for me.”

Many people doing internships with Deere, Croll says, ultimately accepted positions with the company. Others took jobs elsewhere, and Croll still keeps in touch with a number of them, including two at Deloitte in Minneapolis, with whom Croll still works with today.

‘A BIT OF AN OBSESSION’

Career Services director Kathy Wieland notes that, because they are not required to graduate with a business major from Iowa State, the college does not track the percent-

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age of students who obtain internships or co-ops through her office.

However, raw numbers indicate that, after a dip in the 2001-2002 academic year, totals have continued to climb steadily. Indeed, in 2005-2006, 574 students reported experiential learning opportunities—more than three times as many as ten years ago. And while 80 percent of the opportunities were with Iowa-based firms, a fifth were outside of the state, including internships in Italy and Hong Kong.

That Hong Kong opportunity was enjoyed by master of accounting student Jingjing Huang, who completed her internship both in Iowa and abroad. Signing on with HNI Corporation, a Muscatinebased manufacturer of office furniture, Huang would assist the firm in its recent acquisition of Hong Kong–based competitor Lamex in a move to get a foothold in Asian markets. Her experience just might help Huang get a foothold herself in China’s booming economy, while preparing her for a career beyond the boundaries of her native land.

The daughter of university pro-

fessors, Huang is nothing if not ambitious to make her mark on the business world. In the United States for little more than a year—she received her undergraduate business degree from a Chinese university— Huang’s nearly flawless command of idiomatic English betrays the fact that her language skills were acquired largely by watching American movies.

“It’s a great way to learn English,” Huang confides. “I become part of the movie. It’s a bit of an obsession!”

Together with a generous research assistantship from the College of Business, in 2005 that obsession brought Huang to Iowa State. She knew that an internship would be critical toward realizing her ambitions, but was concerned about the restrictions international students face in America when seeking full-time work.

Moreover, she felt, the challenge was only compounded by the lack of businesses with international ties in Iowa relative to places such as New York or San Francisco. “I got the impression,” Huang says, “that I would have to work three or four times harder than American students to get an internship.”

So work she did. At first Huang took the conventional route, interviewing with one employer after another from the college’s database of internship opportunities. That experience did little to challenge Huang’s assumptions about the Iowa business scene. “I got really worried,” she concedes, “and very frustrated as one company after another turned me down.”

Undeterred, Huang—like Azparrent before her—decided to

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take matters into her own hands.

She learned that HNI would be recruiting engineering students at Iowa State, but, with nothing to lose, decided to submit her résumé.

The company’s HR director informed her that HNI wasn’t recruiting accounting students, but she might wish to stop by the company’s booth at the Spring Career Fair at Hilton Coliseum anyway.

That was all the encouragement Huang needed, as she leapt headfirst into learning everything she could about HNI. “I learned they had this acquisi-

“So at the Career Fair I observed for awhile and tried to determine who looked most like a manager—you want to make sure you hit the target.”

JINGJING HUANG

tion going on with Lamex,” Huang recalls. “I got really excited because I knew they needed people who knew both sides—and who could speak Chinese. So at the Career Fair I observed the HNI booth for awhile and tried to determine who looked most like a manager—you want to make sure you hit the target.”

Huang’s marksmanship was flawless. Her preliminary knowledge of HNI’s international strategy was sharp enough to land an interview with two of the firm’s vice-presidents, a company controller, and the president of HNI International, the subsidiary in charge of the Lamex acquisition. And by the time she sat for that interview, she had reviewed the firm’s recent

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SEC filings and annual reports.

Two days after the interview, Huang had her job. She spent her first month learning everything she could about the Lamex acquisition, then the rest of the internship in Hong Kong and the Lamex manufacturing plant in nearby Dongguan.

Under the tutelage of HNI International’s controller—herself a native of China—Huang helped to reconcile and coordinate Lamex’s complicated accounting methods with HNI’s accounting model.

Beyond the hands-on experience of working with an international business setting, Huang feels that one of the most rewarding aspects of her internship was the opportunity to get a management-level perspective on HNI’s operations.

“I want to be able to see the entire career path I’m on,” Huang offers, “not just one part. You can see this only in management.

Because I interned in both Hong Kong and Dongguan, I talked to many different accountants and managers, and they all have different perspectives on the work.”

That level of experience was impressive enough to land her yet another international internship: this spring, Huang will plug into Abby Croll’s “network” as an intern with the London office of DeloitteTouche, where she’ll ply her talents and experience working on the accounts of American business interests in Europe.

Indianola, Iowa, Bries came to Iowa State in 2002 looking to prepare for a career in business. He was attracted to finance, he says, because of its breadth of focus, including accounting and management skills that would be valuable in either the public or private sector. Rather than an internship, however, Bries sought to sharpen those skills in what he considered the more rigorous setting of a cooperative learning experience.

“I wanted more than just a summer internship,” he recalls. “I felt I would gain more experience workJINGJING HUANG IDENTIFIED THE INTERNATIONAL INTERNSHIP OPPORTUNITY SHE WANTED—AND WENT OUT AND GOT IT. TWICE.

ONE MISSION

If the sky’s the limit for Jingjing Huang’s career, the opportunity afforded Adam Bries was, quite literally, out of this world. A sophomore transfer from Simpson College in

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ing for a company either back-toback summers or for a full semester—eight months rather than just three months in the summer.”

The Manchester, Iowa, native also wanted an experience that would take him beyond his home state, so he focused his search outside of Iowa. Much to his surprise, the opportunity he found was not with some big mainline corporation or conventional government bureaucracy, but instead with the National Aeronautics and Space Administration.

It was, he says, a good fit.

“One thing NASA looks for in their co-ops, of course, is the ability to relocate,” Bries observes. “And then they look for the really adaptive, unique individual, because you have to be able to accept change—when you work with the government, you get new people in Congress, new administrators all the time.”

“Seeing everybody come together as a family after such a tragedy was very motivating for me.

Nobody wanted to quit.”

ADAM BRIES

Nowhere was that change more evident, Bries says, than at Johnson Space Center (JSC) in Houston, where he served his co-op. Bries did three different “tours” while at JSC, first as a budget analyst with the Space and Life Sciences Directorate, then as a contract specialist with both NASA’s Projects Procurement Office and Space Station Program Office, where he helped to manage

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International Flavor Business students learn about other cultures — and themselves

NTERNSHIPS, CO-OPS, AND EVEN PART-TIME JOBS GET

STUDY ABROAD PROGRAMS ARE ANOTHER AVENUE FOR

A LOT OF CREDIT FOR HELPING STUDENTS PICK OUT

STUDENTS TO GAIN VALUABLE EXPERIENCE OUTSIDE OF

CAREER PATHS AND GIVING THEM EXPERIENCE IN THEIR

THE CLASSROOM. AND WHILE MOST ANY COLLEGE OF

FIELDS. AND RIGHTFULLY SO — THESE ARE TANGIBLE,

BUSINESS STUDENT WHO WANTED TO COULD PARTICIPATE

HANDS-ON EXPERIENCES THAT GIVE STUDENTS A TASTE

IN A STUDY ABROAD OPPORTUNITY, THESE PROGRAMS —

OF WHAT THINGS ARE REALLY LIKE OUT THERE.

AND THEIR IMPACT — TEND TO BE LESSER-KNOWN.

I

THE GRAND CANAL IN VENICE, ITALY. NEARBY PADERNO DEL GRAPPA HOSTS A STUDY ABROAD PROGRAM.

NASA WAS NOT THE FIRST ORGANIZATION THAT CAME TO ADAM BRIES’ MIND WHEN HE SOUGHT A FINANCE CO-OP. BUT HE FOUND IT TO BE A GOOD FIT FOR HIM, AND HE REMAINS THERE TODAY.

the agency’s financial relationships with vendors and contractors.

Beyond the details of financial analysis, Bries learned as well the significance of the sense of “family” the space agency prides itself upon when, during his first tour in February 2003, the space shuttle Columbia disintegrated upon reentry over north Texas. It was, he recalls, a galvanizing experience.

“We realized that we were there for one goal, one mission,” Bries recalls. “Seeing everybody come together as a family after such a tragedy was very motivating for me as a co-op. Nobody wanted to quit.”

Least of all Adam Bries: upon graduating in 2005, Bries accepted full-time employment with NASA, starting as a budget analyst under the Office of the Chief Financial Officer managing the large contracts in the Safety and Mission Assurance Directorate, then moving into his current position under the CFO as a “lead integrator” for the Institutional operations budget of

the entire Johnson Space Center.

Today, he coordinates the distribution of some $300 million annually across JSC’s various Institutional program offices and directorates within the overall NASA budget.

Most interns coming out of the College of Business won’t witness quite the drama that Bries witnessed during his co-op at NASA, nor would they care to. Yet all of them experience immersion in a rigorous environment that prepares them to compete with peers nationwide for some of the best jobs in business, whether they stay with their first firms as young professionals, like Bries and Azparrent, or, like Huang and Croll, move on to other opportunities.

“What I learned during my co-op at NASA was extremely beneficial,” Bries says. “I feel my experience could take me anywhere. It was the right thing to do. It was a good choice.” ■

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Howard Van Auken, professor of management and Bob and Kay Smith Fellow in Entrepreneurship, has worked for more than 15 years to make study abroad opportunities more available to Iowa State students. He chairs Iowa State’s Study Abroad and Exchange Advisory Committee, which promotes and approves study abroad programs. The committee works closely with Iowa State’s Study Abroad Center.

Van Auken’s interest in these programs began in 1989, when he spent a semester in Mexico. While there, he happened across students from SUNY-Buffalo who were studying there. As he conversed with them, it sparked the idea that Iowa State’s business students could benefit from similar types of study abroad opportunities. He has been working with the programs ever since.

think. Some students find that the fees for their program is not that much greater than their tuition to Iowa State. Others find that by choosing a program in a location that does not have a high cost of living, which allows them to keep food and housing expenses down, they can make it work. Yet another option for students is to choose an abbreviated program during the summer, instead of the traditional semester-long experience.

And scholarships—within the College of Business and through the university—are available to help All that a offset the cost.

really needs is “a

PALACE BUILT IN THE 14TH CENTURY.

Lee Van Brocklin, academic advisor in the Union Pacific taking international business as a secondary major, which must Undergraduate Programs Office, works to recruit and connect be taken in tandem with one of the college’s standalone majors students with the multitude of study abroad opportunities like accounting or marketing. But, Van Auken says, many other available through Iowa State. He worked to place 140 College students study abroad simply because they want that experiof Business undergraduates with study abroad opportunities in ence, and some of them end up adding the secondary major.

2005-2006.

One component of the international business major is a 12The College of Business has affiliations with study abroad week study abroad experience. Students are also required to programs around the world, including the Consortium of have one year of college course work in the same foreign lanUniversities for International Studies (CIMBA). This program guage, as well as 12 credits of courses in international business, offers certificates in Kepner-Tregoe, a business decision model economics, and politics. taught in many MBA programs, and Rapport. For undergraduates to gain experience in these two areas “Students become BREAKING DOWN BARRIERS is very unique. Other options for business programs better world citiBoth Van Auken and Van Brocklin feel that study include Greece, Wales, Ireland, Australia, Tasmania, zens.

They learn abroad programs could benefit many more students New Zealand, Mexico, and Alicante, Spain, which is that there are than they currently do. Van Brocklin cited a numthe largest study abroad program at Iowa State, with ber of barriers that keep students from pursuing over 40 students participating in the six-week proother ways of these opportunities, like failing to plan ahead, fear gram each of the last two summers. This particular doing things in of an unfamiliar setting and language, and—most program is unique because it is one of the very life than what frequently—money. few—perhaps the only—culture-based entrepre“We look for students who are not fearful of neurship programs that exists for American students. they are used to.” ‘new,’” Van Brocklin said. “Who want to step out MBA students also have programs available in HOWARD VAN AUKEN and set themselves apart.”

Denmark or Italy.

Van Brocklin works with students to overcome Many study abroad programs, like these, originate obstacles and convince them what a valuable experience studying through one of Iowa State’s colleges. But Iowa State offers abroad can really be. He emphasizes that students who may be dozens of international opportunities, said Van Auken. Some interested in studying abroad need to begin planning as early as programs are run through particular faculty members. Others their freshman years. They may need to structure their classes to are university programs shared by all of Iowa’s Regents institucoordinate with international course offerings, and to stay on tions. And some students participate in other universities’ study track to graduate at their planned time. But, Van Brocklin emphaabroad programs if they are interested in a particular location or sized, students do not have to speak a foreign language. Many curriculum that is not available at Iowa State. study abroad programs are at English-speaking universities.

“If a student is interested in something, there is a study And that crucial financial hurdle is one that can be overabroad program for them,” said Van Auken. come, as studying abroad is more affordable than most people Many College of Business students who study abroad are 10

willingness to ask,

CHANGING LIVES—AND CAREERS

STUDENTS OUTSIDE THE ALHAMBRA IN GRENADA, SPAIN. THE ALHAMBRA IS A MOORISH

WIDE RANGE OF OPPORTUNITIES

sarily a direct one. Little data exist on the subject. According to Wieland, few employers ask about specific language or travel exposure.

However, “anything students can do to niche themselves is valuable in the job search process,” she said. “The more specific undergraduates can be about their interests, the better they will sell to employers. The study abroad experience is more about the personal growth that one undergoes.” That personal growth may give students the confidence or student focus necessary to land that job.

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WHY NOT?

“The experience abroad is life-changing,” said Van As the world becomes more accessible and compa‘why not?’”

Auken. “Students become better world citizens. nies seek more people who have shown the kind of LEE VAN BROCKLIN They learn that there are other ways of doing things initiative and problem-solving ability that a study in life than what they are used to.” abroad experience requires, it seems logical to think They experience challenges that they never would have had that the opportunities for quality study abroad experiences they not left Iowa State—daily trials like exchanging currency, would continue to grow. understanding the train system, or ordering in a foreign restauIf so, the natural questions that follow are, will students be rant. It forces them to solve problems and make decisions, and aware of just how much opportunity they have? Will there be the confidence gained carries back over into their studies and enough resources to available to keep the experience affordprofessional life back home, Van Auken said. able?

“I’ve had students start asking for job applications on the Van Brocklin hopes so. He has seen the kinds of transformaspot” in companies they have visited abroad, he said. And that tive growth and change that programs like these can inspire in enthusiasm to explore the unknown might just make students students. And they are truly the kinds of programs that can more attractive in the job market—abroad or at home. benefit all kinds of students.

According to Director of Business Career Services Kathy “You don’t have to be an ‘A’ student, Van Brocklin said. All Wieland, the relationship between a student’s study abroad that a student really needs, he says, is “a willingness to ask, experience and his attractiveness in the job market is not neces‘why not?’” ■

STUDENTS ATOP A CASTLE ALONG THE ROUTE OF CASTLES NORTH OF ALICANTE, SPAIN.

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Giving Back, Getting Ahead SERVICE-LEARNING PROJECTS EXPAND CLASSROOMS, BROADEN UNDERSTANDING

University students today have a greater appreciation for the world around them than perhaps any previous generation. Their savvy use of technology creates social networks and fosters a global perspective that they accept as a normal part of life.

But what about their connections to the local community and their understanding of professional relationships?

Addressing these questions takes more than a traditional classroom education. By offering students service-learning opportunities, the College of Business is providing avenues of discovery that can lead to meaningful answers about life and work.

Definitions of service-learning abound, but most of them refer to students trying out their skills in “the real world.”

There they explore for themselves what happens when the structure of a classroom gives way to the fluidity of a fastpaced business environment, and how decisions are made when no by-the-book answer is available.

Classrooms and textbooks still serve as the foundations of student knowledge, and professors act as mentors in preparing students for the 12

working world. Yet students find that there is more to being a successful professional and an active citizen. One value of service-learning lies in the opportunity for students to apply their knowledge in a new setting—to use creativity and critical thinking to solve problems.

Some lessons, though, transcend spreadsheets and reports. Students also learn about the value of community and contributing to a larger good. That’s where an important aspect of service comes in. Many service-learning opportunities take place in nonprofit settings where volunteerism and sacrifice are the guiding principles.

When social responsibility is layered upon business acumen, the benefits accrue to society. And the service-learning sites themselves benefit from the knowledge, enthusiasm, and dedication of students who are eager to demonstrate what they can accomplish outside the world of classrooms and textbooks.

Students from various disciplines throughout the College of Business are experiencing first-hand how servicelearning can enhance their education by bringing them one step closer to the world in which they will be living and working.

L I T T L E D E TA I L S ,

“When I started,

BIG PICTURE

Kris Lager gladly tethers her high ideals to the therapeutic value of horse riding, but she also knows she is tied to the “little paper-grubbing bookkeeping details” of a small nonprofit business.

As the owner of One Heart Equestrian Therapy, Lager has spent more than five years building a place of hope and recovery, where the sick or disabled gain confidence and experience joy by riding specially trained horses. How she managed to start from nothing is another story. How she manages the books is where Iowa State accounting students became part of this story.

O ne value of service-learning lies in the opportunity for students to apply their knowledge in a new setting — to use creativity and critical thinking to solve problems.

“When I started the business, I hand-recorded every transaction,” Lager said, “including in-kind donations.

That brought up a lot of questions about depreciation of assets. I mean, how do you depreciate a 25-year-old horse?”

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I hand-recorded every transaction.

That brought up a lot of questions.

I mean, how do you depreciate a 25-year-old horse?”

KRIS LAGER

Lager knew that she needed some expert advice, and she had a good idea where she might find it. One of her previous clients had been the special-needs son of Diane Janvrin, assistant professor of accounting.

“She said they needed an audit,” Janvrin said, “and we have a creative component in our master’s program in accounting. We determined quickly that this would be a great hands-on experience.”

Two students quickly volunteered. According to Lager, it didn’t take long for them to see just how a small, young nonprofit operated.

“They got to laugh about how low-tech we were,” Lager said. “For them, it was almost like going back to the Stone Age,” she said, noting that the students couldn’t simply link their laptops to an electronic system of records. “But they could actually put their hands on the hard copy of every

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ONE HEART EQUESTRIAN THERAPY IS A NONPROFIT EQUESTRIAN THERAPY PROGRAM THAT SERVES PEOPLE WITH VARIOUS DISABILITIES. TWO MASTER OF ACCOUNTING STUDENTS TOOK ON A SERVICE-LEARNING PROJECT TO HELP CONDUCT AN AUDIT FOR THE ORGANIZATION.

check, every receipt, every vendor record—of everything. I think that kind of tickled them.”

That sort of thoroughness, whether the product of technology or time-intensive labor, was just what Lager had hoped for, and she was grateful that the students were willing to adapt. Their work, she said, “did just what an audit should do. They used their training and professionalism to bring things to my attention.”

And if the audit had not been free, Lager said, “I could not have afforded it.”

From an educator’s perspective, Janvrin saw educational

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benefits for her students.

“I don’t think either of them realized just how much time and effort was involved in starting up a business,” she said.

“They got a good eye-opening experience about that process.”

A SYSTEM OF R E L AT I O N S H I P S

When graduate students studying databases were assigned a project involving an imposing management information system, they found that technical problems are never far removed from a distinct human element.

A new MIS system being used by the City of Ames

Inspection Division was proving to be “a black box to end users,” explained Brian Mennecke, Dean’s Faculty Fellow and associate professor of management information systems. He set up a servicelearning project for students in his MIS 533 class to “dig in there” and find some answers about accessing data. But he also asked for a little extra.

“More importantly, our role

13

MBA STUDENT LAURA GRAHAM GIVES A PRESENTATION ON ETHICS TO THE UNITED WAY OF STORY COUNTY. IOWA STATE MBA STUDENTS OFFER CONSULTING AND WORKSHOPS FOR THE UNITED WAY.

“The project wasn’t so much about the technical issues as it was about the political, social, and organizational issues that went along with the data.”

JANEA TRIPLETT

14

was to frame a dialogue about how end users should be able to access and manage data,” Mennecke said.

In less academic terms, the new system wasn’t meshing well with the old system, and the friction was affecting the employees. Managers were frustrated, the staff was confused, and tensions were growing. Finding solutions to organizational relationships, Mennecke said, would be just as important as fathoming the software conundrum.

Janea Triplett, a graduate student in international development, saw an opportunity for a local problem to resonate with her global outlook. Her interdisciplinary program of study included international business, as well as sociology and community and regional planning.

“The project wasn’t so much about the technical

issues as it was about the political, social, and organizational issues that went along with the data,” Triplett said. “I found that to be fascinating.”

Triplett was a member of one of four teams of students that took on the project. Each team was to generate a position paper based on its findings, and then present the information to city employees.

Knowing that the project was far more than a textbookbased exercise, she said, gave the teams an added incentive.

The city employees “talked to us like we were consultants,” Triplett said. “Of course, everybody wanted to perform well for the professor, but there was an added level of professionalism when it came to the report process and the presentations.”

Those reports and presentations offered a greater variety of perspectives than the

city would have gotten from a single consultant.

“Each student team had a different way of looking at the problem, which the city appreciated,” Triplett said. “My team’s approach was more organizational than technical, but two other groups focused more on database issues.”

According to Mennecke, the project also altered student perspectives. To see and hear the frustration of a person, rather than read a theory on paper, was a potent lesson.

“They clearly had an exposure to how organizations operate within constraints,” Mennecke said. “The students commented about how enlightening it was to see the reality of a manager trying to deal with a data management problem.”

In the eyes of Triplett, a manager’s challenges in Ames were “not that different” from what she had seen during school-related trips to Thailand and Ethiopia.

Technical issues aside, we are, after all, only human.

“It’s so important to be able to practice what you’re learning,” she said. “You can learn all you want to in a book, but you really need to get out there and struggle with the human aspects. A project might seem smooth on paper, but it’s a little messy in the real world.”

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T H E S TA N D A R D O F S E R V I C E

Monica Kak came to Iowa State with a sense of social responsibility. She had done volunteer work in her native India, and then continued while studying as an undergraduate in America. But she didn’t know about servicelearning. A project with United Way of Story County uncovered more of the volunteer world than she knew existed.

“I think I discovered quite a bit,” she said about her experience as the service-learning chair for the MBA student association. “I was able to talk to people from maybe five volunteer organizations besides United Way. I had no idea they were out there.”

That Kak became aware of those organizations illustrates how deeply the MBA program has integrated service-learning into its curriculum. Brad Shrader, William and Elizabeth Goodwin Fellow and professor of management, was the program’s servicelearning advisor from 1995 to 2005. He explained how a simple idea—“finding a meaningful activity for students to give back to the community”—has emerged into a long-standing relationship with the United Way. At least once a semester, MBA students provide consulting and workshops for the agency and its 31 member organizations.

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“I always come away learning something, and it’s great to watch them interacting with our agencies and answering their questions.

There are benefits on both sides.”

LYNN SCARLETT

“We conduct a survey to learn from United Way what they want to hear about,” Shrader said. Students then divide into teams, research the topic, and present their findings. Presentations have ranged from market planning, to conflict management, to building Web pages.

“What’s cool about it is that the students have practice sessions in front of core faculty who advise service-learning, and other students show up, too,” Shrader said. “It’s a very professional experience for the students. They get to build their leadership skills.”

Ultimately, those presentations reach their intended audience of volunteer organizations, fulfilling one of the basic tenets of service-learning: providing a benefit to the community.

Lynn Scarlett, marketing director at United Way of Story County, has witnessed the results.

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“It’s always wonderful to work with the MBA students because they’re so energetic and have such great ideas,” she said. “I always come away learning something, and it’s great to watch them interacting with our agencies and answering their questions. There are benefits on both sides.”

Scarlett also pointed out that the nonprofit experience can be surprising for students, who often think in terms of big business and new technology.

Most volunteer organizations, she noted, are one- or two-person operations with small budgets and aging computers.

And yet students discover that for-profit applications may apply to nonprofit principles.

The business lessons are important, agreed Shrader, and they are only part of what students take from the experience. Their perception of profit expands to a wider view.

“Here’s a business student,

trained hard and fast in ‘let’s make a profit, let’s be efficient,’ and they get to see on top of that how sharing and giving back to the community helps the common good,” Shrader said.

Second-year students have learned to share that appreciation, and their knowledge, with students just entering the MBA program—a case of “organizational learning,” as Shrader puts it, which produces a smooth succession of service-learning experiences.

Kak, for example, participated on two teams in spring 2006 before leading one in the fall. Even in that role, she found an opportunity to learn.

“It was nice to see that the first-year students had a different approach,” she said. “Their analysis was more in-depth.

And it was good just to meet with them and talk with them.

It’s not all work all the time.” ■

SANJARBEK YUNUSOV ADDRESSES THE GROUP AT THE MBA PROGRAM'S MOST RECENT PRESENTATION TO THE UNITED WAY.

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ENTREPRENEURSHIP ON THE RISE Hands-on program celebrates anniversary, ranking

MAKE NO MISTAKE ABOUT IT: ENTREPRENEURSHIP AT IOWA STATE UNIVERSITY IS GOING PLACES. PEOPLE EVERYWHERE ARE STARTING TO FIGURE OUT THAT

the dedication and grand opening of The Barista Café in Buchanan Hall. The student-owned and operated café offers hot and cold beverages, fresh-baked and pre-packaged snacks, and is open during morning and evening hours.

The café has been in the works for more than a year. During the EILC’s first year, “students were still trying to figure out what this program should look like,” said Judi Eyles, associate director of the ISU Pappajohn Center. “They had to ask, ‘What should we do? Should we have guest speakers? Should we open a business together?’”

By the EILC’s second year in 20052006, the plan slowly started to become

ENTREPRENEURS ARE NOT NECESSARILY ENTREPRENEURSHIP STUDENTS PREPARE THE BARISTA CAFÉ FOR OPENING DAY. FRONT ROW, LEFT TO RIGHT: JASON

JUST BORN—THAT WITH THE RIGHT

CHRISTENSEN, SAMI BRUCK, AND MEGAN TODD. BACK ROW: BRANDON KENNEDY, SCOTT RODENBURG, AND JUSTIN BAILEY.

TRAINING, THE RIGHT CONNECTIONS, AND THE RIGHT OPPORTUNITIES, ENTREPRENEURS CAN BE MADE. AND IT JUST SO HAPPENS THAT IOWA STATE IS ONE OF THE BEST PLACES IN THE COUNTRY AT CREATING EXPERIENCES THAT HELP YOUNG ENTREPRENEURS GROW. PERHAPS NO STUDENTS IN THE COLLEGE OF BUSINESS GET MORE FREQUENT “HANDS-ON” OPPORTUNITIES THAN THOSE WHO PARTICIPATE IN IOWA STATE’S ENTREPRENEURSHIP PROGRAMS.

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These programs have reached a milestone of sorts, as the ISU Pappajohn Center for Entrepreneurship celebrates its tenth anniversary in 2007. The center provides academic support for the university’s interdisciplinary entrepreneurship minor, connecting faculty, researchers, and students to the entrepreneurial world, while providing Iowa’s business and entrepreneurial community access to resources and information within the university. It assists entrepreneurs in their efforts to launch new ventures.

Things have changed since 1997, when the concept of entrepreneurship was not nearly as well known or understood as it is today. In just ten years, Iowa

State has built an entrepreneurship program that has created opportunities across campus and around the state of Iowa—and garnered national recognition in doing it.

B A R I S TA C A F É O P E N S

Prospectus last featured Iowa State’s entrepreneurship programs in its spring 2005 issue. At that time, the Entrepreneurship and Innovation Learning Community—a floor of Buchanan Hall specifically for student entrepreneurs to live, share ideas, and plant the seeds of their dreams—had just opened. The community has come a long way in less than three years.

On February 26, the EILC celebrated

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reality. They began laying the groundwork by surveying Buchanan Hall residents and evaluating the need for a café in the building. Given that there were no dining options in Buchanan, coupled with the significant pass-through traffic from the Greek community housed nearby, they found that there was sufficient interest.

Their efforts also got a boost from Duane Sandage, a 1964 agricultural education graduate. “When I met with these young people who were embarking on this,” he said, “it just seemed that there wasn’t any way it wouldn’t be beneficial from a learning standpoint.” Sandage chairs the Board of Trustees of the Sandage Charitable Trust, which funds entrepreneurship programs and scholarships. He shared his visit with other members of the trust board, which approved a gift that helped launch the café.

By 2006-2007, a core group of 12 students came together to finish the job, converting a janitor’s closet into their café space. They have met with attorneys to organize as a corporation, bought insur-

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ance, secured vendors, installed accounting software, and purchased all the necessary supplies. It hasn’t been easy. “There are so many aspects of starting a business that you just don’t have a clue about until you get started,” Eyles said.

Megan Todd, a senior in marketing, agreed. “I’ve learned a lot about each part of a business in my classes,” she said, “but my experience with the café has given me a real hands-on opportunity to watch all of those facets come together to form a working business.”

Eyles raves about the teamwork shown not only among students, but between her young entrepreneurs and the Iowa State community. “The university has been so supportive of the educational experience offered to these students,” she said.

Unlike other projects taken on by learning communities, The Barista Café is a for-profit enterprise. It has a board of student directors and officers. Studentoperators must buy into ownership of the café either through a $500 contribution or $100 and a contribution of labor toward their remaining $400. As students

leave or graduate, they sell their ownership to new student-operators, who must meet board approval.

And although Eyles and the ISU Pappajohn Center are providing guidance, there is no doubt about who’s running the show. “The students are driving this proj-

In just ten years, Iowa State has built an entrepreneurship program that has garnered national recognition. ect. They’re meeting regularly, they’re communicating,” Eyles said.

Todd, who is also the café’s CEO and president of the board, said it has been challenging. “To start a business, you must be truly passionate about it,” she said. “We’ve had to prove to others and ourselves that The Barista Café will be a success despite the struggles we’ve faced throughout the process.”

IOWA STATE'S DELEGATES TO THE FIRST OKOBOJI ENTREPRENEURSHIP INSTITUTE, FRONT ROW (LEFT TO RIGHT): JIMMY BETTS, MATT SWANSON, TYLER RASMUSSEN, AND AMBERLY HAGEN. BACK: DANE MAXWELL, NEAL SNELLER, BRANT KASSEL, AND BRANDON MYER.

PROSPECTUS

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OKOBOJI ENTREPRENEURSHIP INSTITUTE PARTICIPANTS HAD THE OPPORTUNITY TO VISIT WITH AND LISTEN TO SOME OF IOWA'S MOST SUCCESSFUL ENTREPRENEURS. THE 2007 INSTITUTE WILL BE HELD AUGUST 5-10.

OKOBOJI ENTREPRENEURSHIP INSTITUTE

Iowa State entrepreneurship students participated in “an opportunity of a lifetime” last August, as the Okoboji Entrepreneurship Institute was held in the Great Lakes Region of Iowa. The institute will return again for a second year on August 5-10, 2007. The institute will offer 24 students—eight from each Regents institution—the chance to participate in a sort of “boot camp for entrepreneurs.”

The institute, which earns college credit for its undergraduate participants, is a joint effort of the Board of Regents, the Iowa Department of Economic Development, the Pappajohn Entrepreneurial Centers at all three Regents institutions, and the Iowa Lakes Corridor Development Corporation.

Students participate in advanced studies that include an entrepreneurial simulation; seminars with successful entrepreneurs, business, and community leaders; networking and mentoring to enhance their understanding of entrepreneurship opportunities in Iowa. They also get to enjoy some fun, too.

Former Regent Tom Bedell played a leadership role in developing the institute. He wanted to encourage a partnership between the Board of Regents, economic development in Iowa, and the Regents institutions. He saw it as a chance for experienced entrepreneurs to mentor students who had entrepreneurial skills. It was a chance for students to interact with and ask questions of real entrepreneurs and investors.

As then-Governor Tom Vilsack said, “We see the Okoboji Institute as a test of

“I’ve taken a much more proactive approach to business in general.

I’m much more comfortable speaking the language.” Dane Maxwell economic gardening strategies for entrepreneurial development throughout the state. The strategy is to develop nurturing places for entrepreneurs within regional business communities, introduce students to the quality of life throughout Iowa and help them succeed with new business ideas as they emerge from the state’s entrepreneurial training centers.”

The institute offered full scholarships for its participants, and residents of the Great Lakes area opened their homes to host them while they visited.

“For a serious entrepreneurship student, this is a phenomenal opportunity,” said Eyles. Participants spend their mornings in the classroom with a professor, and their afternoons working on their simulated businesses and pitching their strategies to investors. They also work in teams with students from other schools—a competition based on ideas, not on school identity.

Networking events were also held, and the entire community got involved. Eyles estimated a crowd of 200 people at a welcoming reception. At another event later in the week, “there were probably 50 or 60 businesspeople and the governor, and they were as enthralled with the students as the students were with them,” she said. “These students have been handed a network that most of us couldn’t develop in 20 years.”

And they ran with it. Dane Maxwell, a spring 2006 management information systems graduate, attended the institute not fully sure of what to expect. “I thought it would be purely educational,” he said.

“But there was no theory about it.”

Maxwell quickly realized what an opportunity he had. He made a point of generating conversations with some of the successful entrepreneurs who had lent their time to the institute, hoping to gain insight into their experiences.

“I made incredible connections that have forever changed my life,” said Maxwell. Those connections have already yielded results, as he is partnering with an institute attendee from the University of Iowa to create a business that acquires Internet sites, then holds and ultimately sells them for a profit. And that is in addition to a small real estate technology business Maxwell is already developing.

One of the institute’s visiting entrepreneurs—a relationship Maxwell develcontinued p. 24

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Iowa State Takes Lead on Virtual Career Fair For soon-to-be graduates, one date sure to be circled on the calendar has always been the career fair. Typically, these events have been the most efficient at matching large numbers of prospective employers with large numbers of prospective employees.

But thanks in part to the efforts of Mark Peterson, director of MBA graduate career services, Iowa State MBA students may soon be able to meet with prospective employers as easily as they can boot up their laptops.

The second annual Southwest MBA Alliance Virtual Career Fair was held over a two-week period last fall. The alliance is a group of 12 top MBA programs located in the central and south-central United States that combine efforts each year to foster connections between progressive businesses and MBA students. Peterson has been heavily involved in both of its virtual career fairs, helping with marketing efforts on the first fair, then managing the software that ran the second online event. The online career fairs allow MBA students and invited employers to participate by logging on from any computer with an Internet connection.

The two virtual career fairs combined attracted over 400 posted jobs and internships from employers, with over 1,100 students participating total. The fairs have generated a combined 1.5 million page hits.

Most importantly, participation is up significantly from the alliance’s previous “bricks and mortar” career fairs. The last Southwest MBA Alliance career fair in Dallas two years ago saw far fewer employers and students in attendance.

Previously, Iowa State would charter a bus to allow its MBA students to attend. But when MBA recruitment at the national level experienced a slump from 2001 to 2004, it became far less attracI O WA S TAT E U N I V E R S I T Y

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tive to students—in terms of both time and money. “Many companies have eliminated extra recruiting travel, and that means fewer of them have been sending recruiters to consortia career fairs,” said Peterson.

That got alliance organizers considering alternatives. “We learned of some colleagues in a different consortium who tried an online career fair and reported at our professional organization’s conference that it was pretty successful,” said Peterson.

The big advantage to online career fairs, he said, is that participating companies post jobs that are targeted toward participating students, and students can submit résumés for those particular jobs.

At the end of the two weeks, the computer program creates a book of all applicants’ résumés for the employer to review.

“Last year, we didn’t take a real measured approach with recruiting companies that had job opportunities specifically requiring MBAs,” Peterson said. “This year we’ve been more selective that way. Each school has invited 10 companies that they thought would be likely to participate and post truly MBA-level positions. But we still had some other companies that were already registered, and also invited some others back from last year. So, there were a total of 220-230 companies invited to participate.”

Final hiring information from the employers who participated in the November 2006 virtual career fair is not yet available, but the anecdotal feedback Peterson has gathered has been overwhelmingly positive. He says online events are here to stay.

“The Southwest Alliance of MBA Programs will definitely continue to host virtual events of this nature,” said Peterson, “and we’re already planning at least one event for next year. The events provide a low-cost method of presenting our MBA students to a national employer base, and a highly cost-effective method for employers to recruit our MBAs.” ■

“ Virtual career fairs provide a low-cost method of presenting our MBA students to a national employer base.”

—MARK PETERSON

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BRIEFS

MBAs Aim to Be Big 12’s Best graduate programs and John and Ruth DeVries Endowed Chair in Business; Jeffrey Kaufmann, assistant professor of management; and Ron Ackerman, director of graduate admissions and student services.

Conger was also selected by the judges as one were given 24 hours to analyze a Harvard-style of two individual award winners. Conger was chostrategic management case. The students played sen as the best overall presenter from all competthe roles of management consultants, who had to ing teams. Adriana Cisneros from the University of present their recommendations to a panel of execNebraska-Lincoln was chosen as the best from the utives and faculty, who assumed the position of question-and-answer session with the judges. the company’s board of directors.

At the same time as the North competition in Just two years later, a team of Iowa State MBA Ames, a preliminary competition featuring Big 12 “consultants” is among the best in the Big 12.

South schools was held at the University of The College of Business hosted the preliminary Oklahoma in Norman, Oklahoma. The University round of the inaugural of Oklahoma and Big 12 MBA Case Oklahoma State Competition on Friday University were honand Saturday, February ored as the best in the 16-17 in the Gerdin South.

Business Building.

Both the North and Each business school South preliminary from the Big 12 North competitions presentuniversities sent a foured students with the person team to comsame case, about an pete. Teams from Iowa entrepreneur marketState University and ing a new medical the University of device to a market Colorado at Boulder that did not see a need IOWA STATE’S TEAM OF (LEFT TO RIGHT) MICHAEL CONGER, DOUG VAN WERDEN, were chosen as the for it. It touched on ELIZABETH HATTERY, AND THARANGI RANASINGHE CONFER WITH FACULTY COACH North’s best. two subjects—entreBRAD SHRADER BEFORE THEIR PRESENTATION AT THE BIG 12 MBA CASE COMPETITION IN FEBRUARY. Members of the preneurship and the Iowa State MBA team health care industry— include Michael Conger of Ames, Elizabeth that organizers felt deserved more attention from Hattery of Nevada, Doug Van Werden of Osceola, business schools. and Tharangi Ranasinghe of Pannipitiya, Sri The two North schools and the two South Lanka. The team’s faculty coach is Brad Shrader, schools were scheduled to compete in the “Final William and Elizabeth Goodwin Fellow in Four” round at the University of Oklahoma March Management. Helping to plan the competition at 9-11, which had not yet taken place as of this writIowa State were Michael Crum, associate dean for ing. The final round was scheduled for the same

In April 2005, the College of Business held its first internal case competition, where teams of four first-year MBA students Iowa State was selected as a finalist for the Big 12 MBA Case Competition.

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time and location as the Big 12 Men’s Basketball Tournament in Oklahoma City, and organizers hope to link this new case competition with the conference basketball tournament each year.

“These case competitions showcase the talents of top MBA students who apply their creative skills and problem-solving abilities to a company facing strategic issues in a prepared business case,” said Ackerman.

Crum noted the significance of holding an MBA case competition among Big 12 schools. “The primary purposes are to provide an exciting learning and networking opportunity for our students, a vehicle for increased collaboration among the business schools in the conference, and to showcase the business schools of the conference and provide national exposure,” said Crum. It was the latter objective, he said, that led to the decision to hold the find round of the case competition during one of the Big 12’s premier athletic events.

And Iowa State could not have asked for more from its North preliminary round. Not only did competing teams comment on Iowa State’s hospitality and overall quality as a host,

but its team advanced.

“The value of having the event at Iowa State and having it presented as beautifully as it was is immeasurable,” said Crum. “Besides the obvious positive reflection on Iowa State’s MBA program, we have already made plans to participate in other academic events that were recommended by our colleagues at the other schools.”

Ackerman pointed out the significance of advancing to the final round of this inaugural competition. “It tells us that we’ve come a long way as a program in just 20 years,” he said. “It says a lot about how our students are being prepared in the classroom. Our faculty deserves much of the credit,” he said.

“Having sat in on many of the presentations, I can say that they were all of very high quality,” said Crum. “So it was very gratifying for both our students and our faculty to have our team selected to advance to the final round. The excellence of the competition made our selection even more meaningful.”

Visit www.bus.iastate.edu/media/archive.asp for final results from the Big 12 Case Competition. ■

“ The excellence of our competition made our selection even more meaningful.”

—MIKE CRUM

I O W A S B D C C E L E B R AT E 2 5 Y E A R S The Iowa Small Business

nesses in all U.S. states and territories.

Regents universities and community

Development Centers (SBDC) cele-

Latham was honored for his extensive

colleges across Iowa.

brated their 25th anniversary on

support of the Small Business

October 4, 2006 with a luncheon in

Compliance Alliance program, a regu-

and Latham have made it possible for

West Des Moines. The SBDCs hon-

latory compliance program of the

the Iowa SBDC to help thousands of

ored former Iowa Congressman Neal

national SBDC program helpful to small

Iowa businesses and entrepreneurs

Smith and current Congressman Tom

businesses that have to deal with gov-

through personal counseling and

Latham for their service to Iowa’s

ernment regulations. Both men were

training since the program’s incep-

small businesses.

praised for their commitment and sup-

tion in 1981.

port for Iowa’s small businesses.

Smith was honored for his leadership and dedication in the creation of

The Iowa Small Business

the national Small Business Develop-

Development Centers are an out-

ment Centers network—a program

reach unit of the College of Business,

which serves entrepreneurs and busi-

with regional service centers at

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Because of their support, Smith

Learn more about the SBDC’s programs and services at www.iowasbdc.org.

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ALUMNI NEWS

CLASS NOTES

Ohan A. Kedjidjian (‘85 Marketing)

Joe Clemons (‘93 Marketing) is vice

John Coffelt (‘99 Marketing) is a com-

ing departments for 14 months.

started his own marketing company,

president/co-owner of Clemons Auto

modity trader for Cargill, Inc., in

Currently she works for an international

Great Oak Marketing, in 2006. Great

Group. He manages and operates auto-

Wayzata, Minnesota. He is responsible

organization called Youth for Christ.

Oak Marketing develops custom, high-

mobile dealerships throughout Iowa.

for trading part of Cargill’s western U.S.

She is responsible for coordinating and

corn position and corn trading program

overseeing trips and events for high

into Mexico.

school students and developing an out-

agility, tracking, and herding. Darnell

the marketing committee of his local

Craig Claussen (‘69 Industrial

has co-authored two books on dog

United Way chapter.

Administration) recently sold his inn,

training, along with a video series. She

La Residence, located in Napa Valley

and her husband are voracious Iowa

after 21 years of business. He is looking

State Cyclone fans!

impact, creative marketing campaigns that bring in qualified sales leads for other companies. Kedjidjian serves on

Ryan Carey (‘96 Accounting and Finance) has joined the law firm of

reach program for an urban high school.

Shuttleworth & Ingersoll, P.L.C. in Cedar

Nichole Heilskov (‘99 Marketing)

Rapids, Iowa, as an associate. After

works for Sunny Fresh Foods, a division

graduating from Iowa State University,

of Cargill. She has been with the com-

John Bellizzi, Jr. (‘87 Finance) works

he earned his MBA from the University

pany for eight years and is currently

for the Iowa Legislature as a systems

of Colorado at Denver. He continued his

the Midwest regional sales manager.

analyst. His duties include hardware

education at the University of Iowa, earn-

Nichole is responsible for all foodser-

Janice Flanagan Coble (‘78 Industrial

and software support of all Legislative

ing his JD with distinction in 2006. He is

vice sales in Iowa, Minnesota, North

Administration) and her husband Tim

Services Agency employees. He cur-

currently enrolled in the LLM Taxation

Dakota, South Dakota and Wisconsin.

Coble (’77 Computer Science) became

rently resides in the West Des Moines

Program at Northwestern University.

owners of Temptations on Main in

area and has been married for 16 years

Denise Essman’s (‘73 Industrial

Ames, Iowa, in 2005. The shop has

and has two boys, ages 4 and 7.

Administration) company Essman/

been in the Main Street Cultural District

Research has been recognized as a

for around 25 years. One of the choco-

“Top-Rated” research focus facility by

lates that is made at the shop comes in

the Impulse Research Corporation.

the shape of the Iowa State logo.

1960s

forward to retirement and moving on to new adventures.

1970s

Essman/Research will celebrate 30 years in business on March 17, 2007.

John Gors (‘87 Marketing) has been

for Ethos Group, a company that recruits,

working for GE Real Estate in Dallas,

trains, and develops management can-

Texas, for the last five years. He is the

didates for the retail automobile industry.

Steven Crawford (‘74 Industrial

Steve Craig (‘81 Management) joined

of commercial real estate properties

Administration) was promoted to the

Maytag Corporation after graduation

and portfolios located throughout

newly created position of senior vice

from Iowa State and worked there for

the country.

president reinsurance/chief operating

24 years. When the company was sold

officer (COO) for Grinnell Mutual

in April 2006 to Whirlpool, he was hired

Reinsurance Company. His previous

as their contract account manager.

position was as senior vice president of the Reinsurance Division at Grinnell Mutual where he was employed for over 30 years in the reinsurance and marketing departments.

Mariann Edwards Lang Darter (‘88 Marketing) works for Ryerson Coil Processing as an outside sales repre-

Jan (Dean) Anderson (‘82 Accounting)

sentative. She sells processed carbon

is employed at Siouxland Medical

sheet metal to various industries such

Education Foundation, Inc., as their

as automotive, appliance, truck body

corporate controller. She married

manufacturers, etc.

Dennis Anderson in Maui, Hawaii, on August 22, 2006.

1990s

Scott Martens (‘85 Accounting) has

Darren Epperson (‘91 MBA, ‘88

been director of Service and

Marketing) has worked at Applebee’s

Continuous Improvement at the

for the past 7 years. The past four

University of Minnesota since 2004.

years he has managed all aspects of

Since 2000, he has been adjunct at

the company’s customer satisfaction

Gerianne Darnell (‘78 Industrial

UM’s Carlson School Management

program. His first three years there, he

Administration) worked for Greyhound

(CSOM) for Undergraduate and MBA

managed a number of primary market-

and ConAgra after graduating from

Operations and Quality Management.

ing research studies. Prior to his tenure

Iowa State. In 1991, she started her

In 2007, he became adjunct for

at Applebee’s, Epperson worked at

own professional dog training business

Undergraduate and MBA Managerial

Sprint for 6 years in various marketing

in which she helps people train their

Accounting at UM’s CSOM.

research functions.

Larry Grant (‘74 Industrial CFO for Tatum Partner, an executive services firm. The firm provides financial and technology leadership to companies in transition.

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W W W. B U S . I A S TAT E . E D U

Mark Bland (‘04 Management

Michael Kuehn (‘96 MBA and ‘86

your name in print.

Iowa State University. He provides

E-mail today!

desktop support for administrative

Elizabeth Griswold (‘00 Management

for use on campus, and does day-to-day

Information Systems) is the associate

administration on the exchange server.

subsidiary of Marsh.

John Dunn (‘04 MBA, ‘92 Chemical Engineering) has been named the

in Johnston, Iowa, in July 2006.

Chris Devens (‘01 Accounting and

director of Water and Pollution Control

Thaine Eischeid (‘97 Transportation

Management Information Systems)

for the City of Ames, Iowa. The Water

and Logistics) is a distribution analyst-

owns his own business and recently

and Pollution Control Department over-

intermodal for Pioneer Hi-Bred

received a chiropractic degree from

sees the drinking water treatment and

International, Inc. He imports and

Palmer College of Chiropractic.

wastewater treatment facilities for the City of Ames, as well as the water

exports container loads of seed around the world. Thaine’s wife Rachel

Erika Burkhart (‘02 Management) is

metering activities and the city's regu-

(Klocke) (‘97 Finance) received her

employed at Triple “F”, Inc. as a human

latory laboratory. Dunn has worked in

elementary education degree and is

resource/accounting assistant. She

the environmental field for the past 17

teaching at an elementary in Ankeny,

and her husband Brett have an 18-

years in a variety of positions, including

Iowa. They have 2 children, Megan

month-old daughter.

analytical chemistry, engineering, and senior utility management functions.

Emily Hawkins (‘02 Marketing) is the

Dunn took over as director on January

Brian Garoutte (‘98 Marketing) works

assistant director of marketing at the

1, 2007, after longtime director Tom

for Rhino 7 Consulting in Franchise Sales

University of Missouri Department of

Neumann stepped down.

and Development. He is an independ-

Athletics. She will graduate with an

ent contractor for a variety of franchise

M.S. in educational leadership from the

Racquel Flora (‘04 Marketing) accept-

University of Missouri.

ed the position of inbound manager at

opportunities and serves as brand

Toys “R” Us Distribution Center in

manager to help build sales process cultivating referrals. Garoutte has

Andrea Cummings (‘03 Management)

Kansas City, Missouri, upon graduation

helped hundreds of entrepreneurs real-

has been married for 3 years and lives

from ISU. Flora has recently been pro-

ize their dream of business ownership.

in Kalamazoo, Michigan. Upon gradua-

moted to the central hub, running the

tion she worked for a private company

storage department.

COLLEGE OF BUSINESS

know at business@

Information Technology Services at

Credit Operations at John Deere Credit

■

been up to? Let us

account manager at CS STARS, a

Finance) was named manager, AFS

I O WA S TAT E U N I V E R S I T Y

What have you

an ASQ-Certified Six Sigma Black Belt.

in their human resources and market-

VOLUME 23 NUMBER 1

sion and 401(k) plans with Principal.

offices, researches new technologies

dogs for competition in obedience,

22

serves companies that have their pen-

GET PUBLISHED!

iastate.edu, and get

(7 years old) and Carter (5 years old).

Administration) is partner and part-time

Inc., as a client service assistant. She

Information Systems) is working for

2000s

deal leader in the commercial real mendations to a committee on all types

works for Principal Financial Group,

Todd McGuire (‘99 MBA) was named representative (Indiana and Kentucky)

estate group. He makes credit recom-

1980s

Kristi Clement (‘96 Finance) is a regional

Lindsay Gulling (‘03 Management)

■

PROSPECTUS

continued p. 24

23

ALUMNI NEWS

CLASS NOTES 2000s

Dana Petersen (‘05 Marketing) is the assistant manager for the Agricultural Training Program with the Foundation for Worldwide International Student Exchange (WISE).

continued Matt Haubrich (‘00 MBA, ’96 Statistics)

Masha Dorozhkina (‘05 MBA) works

is the bureau chief for the Bureau of

Jennifer (Ehlers) Grandgenett (‘04

in the Ag Tire Division at Bridgestone

Research and Statistics at the Iowa

Management) works for Pella

Firestone in Des Moines, Iowa. She is

Department of Human Services. He

Corporation as a manager in the double

the business analyst in the Export

oversees a group of statistical analysts.

hung plant. The final line she oversees

Sales office.

He is currently pursuing a Certified Public Manager certification.

produces 150 windows a shift. She oversees 26 employees and coaches

Jon Gucinski (‘05 MS Information

them so they can have the opportunity

Assurance, ’03 Management

to advance in the company.

Information Systems) is currently the

Chain Management) is a manager

information security analyst for

trainee for Jacobson Warehouse

Bryan Hamilton (‘04 Transportation and

Midwest Bank & Trust in Chicago,

Company. He works for Jacobson’s on-

Logistics) is the logistics manager in

Illinois. He is responsible for the admin-

site warehouse at the Barilla America,

the freight brokerage department for

istration and management of all infor-

Inc. facilities, first in Ames, and now

Transx.

mation security devices and computers.

temporarily in Avon, New York.■

Tim Ryan (’06 Operations and Supply

ENTREPRENEURSHIP ON THE RISE /CONTINUED FROM PAGE 18 oped—mentors them, serving as a disciplinary force that helps them map out measurable goals for their venture.

Maxwell notices the change in his perspective. Where he used to be reactive, he said, “I’ve taken a much more proactive approach to business in general.

I’m able to communicate more concisely than I used to, especially in terms of a business idea. I’m much more comfortable speaking the language.”

Other students agreed that the institute profoundly affected their experience at Iowa State. “The Okoboji Institute has been the highlight of my college education,” said Neal Sneller, a junior in management. “Combining a business simulation, networking, great food, and a smart group of future entrepreneurs who all lived on Lake Okoboji for the week was a priceless experience.”

24

H A R D W O R K G A R N E R S N AT I O N A L RANKING

And for its efforts to advance its entrepreneurship offerings, Iowa State has earned itself national attention. Last September, The Princeton Review and Entrepreneur magazine ranked Iowa State University and its Pappajohn Center 24th nationally for students who want to become entrepreneurs. The ranking came from a survey of more than 700 colleges and universities nationwide.

Although there are a wide range of entrepreneurial programs nationally, the survey’s authors found that schools that made the ranking all showed a commitment to practical, hands-on experiential learning to provide the skills that translate into real-world businesses. Schools in the rankings had students and alumni actively involved in entrepreneurial endeavors, as well as faculty whose mem-

bers serve as mentors, drawing on their own entrepreneurial successes to share with students.

The ranking was meaningful external recognition for a program on the move, lending credibility to the efforts of the many faculty and staff who have built Iowa State’s entrepreneurship program from the ground up—a sort of entrepreneurial effort of their own.

But mostly, it just feels good. “It’s awesome to be recognized like this,” said College of Business Dean Labh Hira. “We always knew we had a great program.” ■

VEISHEA 2007 Honors Business Legends, Kicks off ISU 150th He oversaw times of unprecedented growth of Iowa State’s business programs, and led the department as it became a school in 1980 and ultimately a college in 1984. He was appointed dean of the college at that time, and served in that role for five more years before becoming professor emeritus of held in conjunction with Iowa State’s annual accounting in 1992.

VEISHEA celebration.

Handy and his wife Mary Kay Dr. Charles Handy, professor emericurrently split their time between tus of accounting and the founding Naples, Florida, and Independence, dean of the College of Business, and Iowa. He is still very active in the Dr. William Thompson, professor College of Business, writing the closemeritus of transportation and logistics ing column in each issue of Prospectus. and former department head of indusThompson first came to Iowa trial administration, are the honorees at State as a graduate assistant in 1942. He this spring’s College of Business reunion. became an instructor in 1944, and eventuThe reunion will be held at the ally served as chair of the Department ABOVE: DR. CHARLES HANDY Gerdin Business Building. Tours of the BELOW: DR. WILLIAM THOMPSON of Industrial Administration from 1968 building will begin at 10 a.m., followed to 1975. He closed his career at Iowa by the VEISHEA Parade at 11 a.m. Lunch State as professor emeritus of transportawill be served at noon, and the reunion tion and logistics from 1975 through reception will begin at 1 p.m. To learn his retirement in 1980. more about the reunion, visit At age 97, Thompson currently www.bus.iastate.edu/alumni/reunions resides in Green Hills Retirement or call (515) 294-3656.

Community in Ames and remains very Handy began in the Department of active. He is an avid Cyclone athletics Industrial Administration in 1958 as an fan and travels frequently, having recently accounting instructor. By 1975 he was proreturned from a month in Florida. moted to professor, and served for the next three Although both men earned their bachelor’s and years as the first director of the new Industrial master’s degrees elsewhere, they both completed Administrative Sciences graduate program. He their doctoral degrees at Iowa State—Handy in became chair of the Department of Industrial economics in 1970 and Thompson in industrial Administration in 1978. administration in 1948. ■

On Saturday, April 21, the College of Business will honor two of the most important people in its history in a special reunion

C E L E B R AT E 1 5 0 Y E A R S O F I O W A S TAT E VEISHEA 2007 takes on special

Numerous special events—on-campus and all over

importance, as it serves as the

the state of Iowa—are planned to mark the special

kickoff event for Iowa State’s

occasion.

150th Anniversary, which will be celebrated throughout the 2007-2008 academic year.

VOLUME 23 NUMBER 1

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Learn more about Iowa State’s Sesquicentennial Celebration by visiting www.iastate.edu/~isu150.

25

ALUMNI NEWS

Gerdin Inducted into Iowa Business Hall of Fame

Stafford Named Honorary Alum

Educational Trust Plan, which pays 100 percent of college tuition for employees who have been with the company for 10 years or more.

Gerdin was nominated separately by Iowa State President Gregory Geoffroy and College of Business alumnus Ric Jurgens (’71 Industrial University’s College of Business, was inducted into Administration). Geoffroy wrote that Gerdin “has the Iowa Business Hall of Fame in December. shown remarkable leadership in his business, in The Greater Des Moines Committee, which his community and in statewide activities.” serves as a forum for business leadIn addition to his business ers, created the Iowa Business Hall achievements, Gerdin has been a of Fame in 1975 to honor Iowans generous philanthropist. In addiwho have made outstanding contrition to their lead gift for the butions to the state’s business cliGerdin Business Building, the mate. Inductees must have led a Gerdins gave $5 million to the business that provided jobs and University of Iowa toward the economic development in Iowa, Gerdin Athletic Learning Center RUSSELL AND ANN GERDIN. RUSSELL GERDIN as well as giving their time and WAS INDUCTED INTO THE IOWA BUSINESS and scholarships, as well as HALL OF FAME IN DECEMBER. HE WAS NOMIresources for the betterment of $1 million to the Hurricane Katrina NATED BY IOWA STATE UNIVERSITY their communities. recovery effort. They were sponPRESIDENT GREGORY GEOFFROY. Gerdin founded Heartland sors for the 2006 Special Olympics Express, Inc., a trucking firm in Coralville, Iowa, USA National Games and have supported Shriners in 1978 with four staff members and 16 trucks. He Hospitals for Children. took his company public in 1986, and it now posts He works with the Iowa City Development annual revenues of more than $550 million. It is Association, the Iowa City Chamber of Commerce, consistently mentioned among Forbes magazine’s the Coralville Chamber of Commerce, and the “200 Best Small Companies in America.”

Variety Club of Iowa.

Gerdin has capitalized on his company’s considThe Gerdins were named Honorary Alumni of erable public reputation to lobby for better pay Iowa State University in 2004. Russell Gerdin is and benefits for truck drivers. Under his leaderalso a member of the College of Business Dean’s ship, Heartland Express established the Heartland Advisory Council. ■

Robert Stafford is a highly accomplished military pilot, businessman, and friend of Iowa State University. But this April 20, he will

Russell Gerdin, who with his wife Ann gave $10 million to the construction of the Gerdin Business Building for Iowa State

“Russell Gerdin has shown remarkable leadership in his business, in his community and in statewide activities.”

—PRESIDENT GREGORY GEOFFROY

GERDIN RECOVERING WELL FROM LIVER TRANSPLANT Russell Gerdin is recovering well from

assumed a full workload quickly after

families can stay free of charge while

a liver transplant he received last fall,

his transplant.

receiving treatment at University of

following his diagnosis of liver cancer

26

His experience inspired the Gerdins

Iowa Hospitals.

“His energy and enthusiasm inspire

in March 2006. Following his diagnosis,

to donate $2 million to help start the

he initially scaled back his responsibili-

Russell and Ann Gerdin American

us all,” said Labh Hira, dean of the

ties with Heartland Express, Inc., the

Cancer Society Hope Lodge in Iowa

College of Business. “We’re very fortu-

Coralville trucking firm he founded, but

City, where cancer patients and their

nate to count the Gerdins as friends.”

VOLUME 23 NUMBER 1

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gain something he has not had before: status as an alumnus of Iowa State.

Stafford will receive the Honorary Alumni Award at the university’s annual Distinguished Awards Celebration. This award is given to individuals who are not graduates of Iowa State and have made significant contributions to Iowa State’s welfare, reputation, prestige, and pursuit of excellence. It is among Iowa State’s highest honors.

Stafford will be honored at a public ceremony on Friday, April 20 at 3:15 p.m. at the Parks Library Rotunda. A reception will follow.

An Ames High graduate, Stafford enrolled at Iowa State College in 1942, but left that December to fulfill his military commitment. He enlisted in the Army Air Corps and co-piloted a B-17 Flying Fortress Bomber during World War II. He completed 30 missions over Germany and received numerous honors, including the Distinguished Flying Cross and Air Medal with four Oak Leaf Clusters.

Following the war, Stafford returned to Iowa State, serving as business manager of the Iowa State Daily and working part-time in the registrar’s office. He took every business course he could, but business offerings were much more limited in the business program’s pre-college days. Stafford transferred to Northwestern University in Evanston, Illinois, and earned his bachelor of science in business administration in 1948.

He returned to Des Moines, working with Central Life Assurance Company. He also served as a member of the Iowa Air National Guard,

I O WA S TAT E U N I V E R S I T Y

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PROSPECTUS

ROBERT STAFFORD AND HIS WIFE VIRGINIA. THE STAFFORDS HAVE BEEN TREMENDOUS SUPPORTERS OF IOWA STATE AND THE COLLEGE OF BUSINESS. ROBERT WILL BE NAMED AN HONORARY ALUMNUS OF IOWA STATE ON APRIL 20.

where he remained a member until 1966. He was called up again during the Korean conflict in 1951, but by 1954 he began work at the Ames Trust and Savings Bank (now First National Bank). In 1968, he was named bank president and later assumed the role of board chairman. He retired in 2003 after nearly 50 years in banking, although he remains active with First National Bank.

Stafford and his wife Virginia have given to many university initiatives, including the construction of the Gerdin Business Building. They are members of the Order of the Knoll Founders Club and President’s Circle. He has also served the ISU Foundation in various capacities over many years.

In the Ames Community, he helped to establish the Ames Economic Development Commission and served on the board of the ISU Research Park.

In 2004, the College of Business hosted the inaugural Robert Stafford Lecture Series on Banking, funded by the Ames National Corporation, parent company of First National Bank of Ames. The annual lectureship was named in honor of Stafford’s many years of dedicated service to the firm. ■

The Honorary Alumni Award is given to individuals who are not graduates of Iowa State and have made significant contributions to the university.

27

FA C U LT Y A N D S TA F F N E W S

Staff Announcements Sonja Foley was hired

policy studies. Prior to returning to

Beth Romer was hired

as student service

Iowa State, Chris was at the University of

as a graphic designer

specialist and classifi-

Oregon and Northern Illinois University.

in the Dean’s Office.

Rick Dark, associate

Frank Montabon,

A paper co-authored

Romer will work on

professor of finance,

associate professor of

by Amrit Tiwana,

designing the new

won the Regents

operations and supply

assistant professor

College of Business

cation officer in Undergraduate Programs.

Soma Mitra was hired

Foley will organize

as academic fiscal

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

Award for Faculty

chain management,

of management infor-

course schedules, work with prereq-

advisor in the Dean’s

Web site and create marketing pieces.

Excellence, given to

has been named to the

mation systems,

uisites, and meet with undergraduate

Office. Soma will

She has a B.S. in marketing from Wayne

a faculty member

Associate Editor

students. She was previously employed

coordinate budgetary

State College and was previously

who is an outstanding university citi-

Board of the Journal of Supply Chain

Continuation in Escalation Situations:

in Iowa State University’s graduation

policies and deci-

employed at Faith Regional Health

zen and who has rendered significant

Management.

office. She is a graduate of Northern

sions, and propose new strategies

Services in Norfolk, Nebraska, as

service to Iowa State University

Illinois University with a B.A. in education.

and approaches for managing finan-

marketing specialist.

and/or the state of Iowa. In addition to

Ellen Nystrom was

his outstanding research, Dark has

promoted to assistant

A Real Options Model,” won the 2006 Decision Sciences Journal Best Paper Award. The award was presented at the 2006 Annual Decision Sciences Institute Meeting in San Antonio, Texas.

cial resources for the College of

titled, “IS Project

Christopher Juhl

Business. She previously worked at

Don Wyatt was hired

spent 11 years in the Faculty Senate,

state director of the

joined Undergraduate

the Iowa State University Research

as a career coordinator

six years on Athletic Council, serves

Iowa Small Business

Programs as a new

Foundation, Inc., as disclosure and

for Business Career

on the University Budget Model

Development Center.

academic advisor.

database manager. She holds a

Services. Wyatt will

Development Committee, and has

She had previously

Juhl was an under-

bachelor of engineering in computer

be serving marketing

been a faculty mentor for the

served as a business manager for

received a Mentoring

graduate student at

science and technology from Calcutta

and management

University Honors program since 1988.

the SBDC.

Award from

Howard Van Auken

Iowa State University in community

University, India; M.S. in computer

majors, alums and employers, and

and regional planning and sociology,

science from Iowa State University;

managing the fall career fair. He

Dermot Hayes, pro-

and received his master’s from Iowa

M.B.A. from Iowa State University;

was previously employed at Drake

fessor of finance and

by Travis Sapp, assis-

State in educational leadership and

and a C.P.A. certificate with the state

University and prior to that had a

economics, co-

tant professor of

annual meeting of the United States

of Iowa.

career in medical sales. Don holds

authored a journal

finance, titled,

Association for Small Business and

an MBA from Drake University. ■

article that won the

“Mutual Fund Flows

Entrepreneurship.

the Corporate A paper co-authored

Publication of RETIREMENT Jack Blanshan,

Naomi Shaffer, secre-

adjunct instructor of

tary for Undergraduate

accounting and logis-

Programs, retired

tics and supply chain

after serving 22 years

management, retired

in the College of

from the College of

Business. ■

and Investor Returns:

ing for 24 years.

Division at the recent

Van Auken was also honored

Enduring Quality Award at the

An Empirical Examination of Fund

by Loyola Marymount University

American Agricultural Economics

Investor Timing Ability,” was recog-

(California) for his contributions to the

Association’s 2006 annual meeting.

nized among the Top Ten papers

field of entrepreneurship. His award

These articles must have resided in

most downloaded from the Financial

was inscribed, “With our deepest

the literature for at least 10 years and

Economics section of the Social

appreciation for your outstanding

are judged on the enduring quality of

Sciences Research Network (SSRN)

entrepreneurial efforts and impact.

their contribution to the profession.

over a two-month period.

Your past entrepreneurship achievements, and the future impact you will

The article is “Valuing Food Safety in

Business in January 2007 after teach-

Entrepreneurship

Experimental Auction Markets,” pub-

Roger Stover, profes-

have in the world of entrepreneurship,

lished in February 1995 in the

sor of finance and

are inspiring.” ■

American Journal of Agricultural Economics.

Iowa Bankers Fellow in Finance, coauthored a paper entitled, “Bank Debt and Corporate Governance,” which received the Best Paper Award in Empirical Finance at the Southern Finance Association Meetings.

28

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29

DEVELOPMENT

Make an Experience Possible When I was a student at Iowa State University, I took part in numerous opportunities outside the classroom that made a positive impact on my education.

The College of Business is dedicated to providing students with opportunities beyond the classroom that enhance their academic experience.

30

Buffington Creates Legacy with Professorship

Transamerica Life Insurance Company assets worth $50 million or more. The value that this unique experience provides our students simply can not be overstated.

Doug Carr (’82 Industrial Administration) and Carolyn Jones Carr (’97 MSBAS) believe in experiential learning and are ensuring that Iowa State students are provided with these types of opportunities. The Carrs are providing support for student scholarships that encourage students to pursue diverse entrepreneurship opportunities during their academic studies at Iowa State University.

Students at the College of Business aspire to become leaders at the local, national and international levels. In order to achieve these lofty goals, our students must become involved with the global community learning about cultures and languages they are not familiar with. Studying abroad is an expensive endeavor, but if you have spoken with a student who has participated in a study abroad program you know it is worth every penny.

David (’72 Industrial Administration) and Kathleen Ecklund understand the importance of study abroad opportunities for students and support the Ecklund Family Study Abroad Scholarship.

Study abroad scholarships allow more students to experience this form of experiential learning.

Please consider supporting the experiential learning programs of the College of Business through a philanthropic gift. Just as my experiential learning opportunities at Iowa State had a great impact on me, I know many of you have similar memories. Help us ensure that our future business leaders get those same opportunities. It will be one of the smartest investments you have ever made. ■

Being a member of a VEISHEA committee, the fall blood drive, my fraternity, and the Student Alumni Association gave me memories that will live with me forever and, along with my classroom experiences, shaped who I am today. Working in development for the College of Business, I am often reminded of these experiences when meeting with alumni who took advantage of the experiential learning opportunities Iowa State has to offer.

I have had the pleasure of meeting many of you over the past three years JEREMY GALVIN while serving the College of Business as a development officer. Recently, I moved into the role of director of development, where I will continue to work with College of Business alumni and bring you my thoughts and ideas related to development in our Prospectus magazine.

As you have read, this issue is focused on experiential learning. The College of Business is fortunate to have many faculty, staff, and programs dedicated to providing students with opportunities beyond the classroom that enhance their academic experience at Iowa State.

The fall 2006 Prospectus featured a story about how AEGON USA’s Transamerica Life Insurance Company (AEGON) of Cedar Rapids is providing students with the tools they need to manage a fixed income portfolio. Students spend time on AEGON’s trading floor, interact directly with industry professionals through guest lectures and Jeremy Galvin is the director of development for the College site visits, and provide AEGON with recommendaof Business. He can be reached toll free at 866 419-6768 or tions in the management of a portfolio of by e-mail at jdgalvin@iastate.edu.

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Dan Buffington (’79 Industrial Administration) knew he wanted to be an entrepreneur even before he enrolled at Iowa State.

While his friends spent their teenage years working traditional minimum-wage jobs, Buffington mowed yards and shovelied snow. He enjoyed the initiative and discipline it required to be his own supervisor. “I liked to be able to control my own destiny,” he said.

Buffington came to Iowa State hoping to learn more about how to translate his strengths into a successful entrepreneurial career. “I think I got some of the best preparation that I possibly could,” he said. “Iowa State teaches people how to achieve, how to compete, and how to win.”

He also found something else at Iowa State to feed his competitive appetite: the ISU Hockey Club. Buffington was a member of the team, and credits it with allowing him to grow as an individual through leadership, teamwork, self-initiative and a desire to succeed. He has been a longtime

supporter of the program as an alumnus.

Buffington’s desire to compete has helped him build a highly successful career as a financial advisor in Cedar Rapids, Iowa. He owns a private investment management firm, Strellner Agency, and his years of experience have yielded him a large client base. He also owns Daniel Arthur’s, a fine-dining restaurant in downtown Cedar Rapids.

Buffington has three daughters: Danielle (’05 Biology), Christina (’06 Economics), and Andrea, a University of Northern Iowa graduate.

Buffington wanted to give back to the two Iowa State programs that influenced him most. He included them both in his estate plans.

His $500,000 gift will create the Daniel A. Buffington Professorship in Business, to be given to a faculty member demonstrating exemplary service to the College of Business and contributing to the Iowa State community. A second $500,000 gift—the Buffington Business Scholarship for ISU Hockey Students—is for business students who also participate in Cyclone Hockey.

For Buffington, the motivation was simple.

“When I look at all the things that are important to contribute to, Iowa State was my logical choice.” ■

Buffington wanted to give back to the two programs that influenced him the most.

How Can Estate Gifts Benefit My Loved Ones and

Iowa State?

A will or living trust is a good way to ensure your loved ones are provided for after your death and that your preferred charities are supported as you intend. Gifts from wills or trusts provide significant funding for Iowa State programs, students, and facilities. You can also benefit by retaining the use of the assets during your life and by saving on potential estate taxes.

To learn more about how estate gifts can benefit you and Iowa State's College of Business, contact: Jeremy Galvin | Office: (515) 294-0278 | E-mail: jdgalvin@iastate.edu

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DEVELOPMENT

Former Faculty Member Endows Professorship A resident of Ames who is still a practicing CPA, Murphy's research interests have been notmarked a momentous occasion for-profit and governmental accounting. He received his degrees from Colorado State for the College of Business.

University. He currently serves as the investigative Sue Ravenscroft, professor of accounting and a consultant to the Iowa Accountancy Examining member of Iowa State’s faculty since 1998, was Board. named the first Roger P. Murphy Professor in “Roger is a special person to so many of our Accounting. She was honored by Iowa State faculty and former students,” said Labh Hira, dean University President Gregory Geoffroy in a of the College of Business. “We thank him for his ceremony at the Knoll. generous gift. It is only fitting This new professorship was that a fine professor like Sue created by Roger Murphy, associate Ravenscroft be chosen as the first professor emeritus of accounting, recipient of the Roger P. Murphy in 1994 with a $300,000 deferred Professor of Accounting.” commitment. Murphy has since Ravenscroft joined the College added more than $800,000 in of Business faculty in 1998, after additional gifts through his teaching at Eastern Michigan estate. The professorship has University for the prior 10 years. been enhanced by the more than SUE RAVENSCROFT ADDRESSES THE GATHERING AT Her research—which focuses 100 donors—most of them THE MEDALLION CEREMONY FOR THE COLLEGE OF primarily on incentives, accountMurphy’s former students—who BUSINESS’ NEWEST ENDOWED PROFESSORSHIP. ing education and managerial have supported the fund through accounting—has been published in such publicatheir cash gifts. Eventually, the gifts will have the tions as The Accounting Review, Journal of Applied effect of converting the professorship into the Psychology, Organizational Behavior and Human Roger P. Murphy Chair of Accounting.

Decision Processes, Behavioral Research in A beloved teacher, Murphy joined the College Accounting, Advances in Management Accounting, of Business faculty in 1969. He was nominated for Issues in Accounting Education, and Journal of the college’s Outstanding Teacher Award 12 times, Accounting Education. Additionally, she has prewinning it twice. He also received the college’s sented numerous papers at national and regional Outstanding Advisor Award. He received the ISU meetings, and also spoken about business ethics Alumni Association Faculty Citation in 1996, and and service learning at national accounting meetings. was Business Council’s Teacher of the Month in In research that was featured in the fall 2006 October 1999. He retired in 2002.

Prospectus, Ravenscroft collaborated with Jeffrey It was teaching that Murphy had in mind when Kaufmann, assistant professor of management; he created this professorship. “The emphasis of Brad Shrader, professor of management; and forthis gift is on undergraduate teaching as opposed mer Iowa State professor Tim West—now at the to research,” he said. “The professorship is University of Arkansas—in a study on the behavdesigned to attract and support an outstanding ior of nearly 50 students from another Midwestern undergraduate educator in accounting for the university who had cheated on a take-home exam.

College of Business.”

Tuesday, November 7, 2006,

“ It is only fitting that a fine professor like Sue Ravenscroft be chosen as the first recipient of the Roger P. Murphy Professor of Accounting.”

—LABH HIRA

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They co-authored a paper titled “Ethical Distancing: Rationalizing Violations of Organizational Norms,” which appeared in the Business and Professional Ethics Journal. The research was highly publicized in media throughout the country.

Currently editor for Issues in Accounting Education, Ravenscroft also serves on the editorial boards of Behavioral Research in Accounting and Advances in Public Interest Accounting. But her teaching takes on special importance.

“Roger Murphy was a very popular teacher and I feel honored to step into his shoes and teach governmental and non-profit accounting,” said Ravenscroft. “What I’ve chosen to focus on with this endowed professorship is developing communication skills and working to help the college and department develop that kind of skill-building in the curriculum.” She is working with two parttime graduate students to develop a communication center in the College of Business.

Ravenscroft earned her bachelor's degree from Wayne State University, her MBA from the University of Detroit, and her doctorate from

Michigan State University. She also worked as a Certified Public Accountant for Peat Marwick Mitchell—now organized as KPMG—in Michigan before earning her doctoral degree.

The Murphy commitment was made through the Iowa State University Foundation, a private, nonprofit organization dedicated to securing and managing private gift support for Iowa State University.

Endowed faculty positions allow Iowa State to recruit and retain world-class leaders by providing the highest level of faculty recognition. Endowed positions help support course development, graduate assistants, laboratory equipment, salary enhancements, professional development and research projects. These opportunities ultimately enhance course and curriculum development, which improves the educational experience for students. ■

“ Roger Murphy was a very popular teacher and I feel honored to step into his shoes.”

—SUE RAVENSCROFT

To learn more or contribute to Roger P. Murphy Professorship in Accounting, please contact Jeremy Galvin at 866 419-6768 or jdgalvin@iastate.edu. Contributions may be sent to: Jeremy Galvin, Director of Development, 2515 Gerdin Business Building, Ames, Iowa 50011.

IOWA STATE PRESIDENT GREGORY GEOFFROY, SUE RAVENSCROFT, ROGER MURPHY, AND DEAN LABH HIRA AT THE CEREMONY HONORING RAVENSCROFT AS THE FIRST ROGER P. MURPHY PROFESSOR IN ACCOUNTING.

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DEVELOPMENT

The Sturgeons want to help recruit and retain the very best to teach and mentor Iowa State’s business students.

Sturgeons Make Commitment to Faculty

Corporate and Foundation Gifts

Bob and Jane (’85 Accounting) Sturgeon have been longtime friends and volunteers for Iowa State University and the College

The College of Business would like to thank its treasured corporate and foundation partners for their ongoing support in the year 2006. Their contributions

of Business. Bob is an ISU Foundation Governor, and Jane currently serves on the College of Business Dean’s Advisory Council.

Through their volunteer work, the Sturgeons have built strong relationships with many College of Business faculty members. Each year, they attend College of Business Faculty and Staff Awards, to help honor and celebrate great achievements in teaching and research. As much as anyone, they have come to appreciate the impact that faculty have on our students.

The Sturgeons have expressed their commitment to College of Business faculty by establishing the Robert and Jane Sturgeon Endowed Faculty Fellowship in Business. They understand that faculty are at the heart of our success, and they want to ensure that the College of Business is able to recruit and retain the very best to teach and mentor Iowa State’s business students.

“We know from our business that great people are the key to success. And we know how impor-

demonstrate a commitment to ensuring that our students and faculty have the resources to grow in an increasingly competitive marketplace.

Please note that in the future, all gifts—made by individuals, companies, and foundations—will be recognized in the fall issue of Prospectus.

For more information on how you or your company can support the College of Business, contact Jeremy Galvin, director of development, at (866) 419-6768 or jdgalvin@iastate.edu.

BOB AND JANE (’85 ACCOUNTING) STURGEON

tant great faculty are to the student experience,” said Jane Sturgeon. “We want to contribute to the momentum in the College of Business, and keep these great educators at Iowa State.”

The Sturgeons own Barr-Nunn Transportation, a privately-owned, dry-van truckload carrier based in Granger, Iowa. Through their leadership, BarrNunn has grown tremendously since its founding in 1982.

“Bob and Jane are incredible individuals. They give of themselves unselfishly, whether it is their volunteer time or philanthropic dollars,” said Labh Hira, dean of the College of Business. “We are very appreciative of their friendship and commitment they have shown to our programs.” ■

$50,000-$99,999

$1,000-$2,499

Transamerica Life Insurance Company (AEGON) Union Pacific Foundation Wells Fargo Foundation

Barr-Nunn Transportation, Inc. Cerner Corporation First National Bank Gerdin Truck & Leasing Hy-Vee Food Stores Iowa Society of Financial Analysts Inc. Sigler Companies Inc. Union Pacific

$25,000-$49,999 AEGON Transamerica Foundation Cargill John Deere Foundation Nationwide Foundation Wells Fargo Consumer Credit $10,000-$24,999

TOM AND JANET NUGENT

’85 GENERAL BUSINESS AND ’85 MANAGEMENT

COMPLIANCE CONSULTANT, WELLS FARGO AND ACCOUNTING CONSULTANT, MIDWEST TECHNICAL SOLUTIONS DALLAS CENTER, IOWA

Why We Support the College of Business

$5,000-$9,999 Kingland Systems Principal Life Insurance Company RSM McGladrey, Inc.

I

owa State University is a special place to both of us. We had so many wonderful experiences there, and we continue to build on those memo-

ries by attending Cyclone athletic events and supporting the College of

$2,500-$4,999

Business. We view our support of the College of Business as an invest-

Caterpillar Essman Research & Essman Associates Pioneer Hi-Bred S&C Resale Company

ment in future generations as well as Iowa State. This is our way of saying thank you to a great university! ■

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Caterpillar Foundation Eastern Finance Association Principal Financial Group Foundation Inc.

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$500-$999 Auto-Owners Insurance Thoem & Associates Wood Stock Ltd. $250-$499 DK Plastics Office Systems Professionals of Central Iowa $100-$249 Greenwald, Mathew & Associates, Inc. Executive Direction, Inc. First Mortgage, Inc. Sandholm Real Estate & Insurance Wilwerding Contracting, Inc.

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These companies have made matching gifts to the College of Business on behalf of their employees: 3M Foundation A & B Foundation Accenture Foundation Inc. ADP Foundation AEGON Transamerica Foundation Alcoa Foundation AmerUs Group Charitable Foundation Anadarko Petroleum Anheuser Busch Foundation Archer Daniels Midland Foundation Auto-Owners Insurance Bandag, Inc. Bank of America Baxter International Foundation Bemis Company Foundation Boeing Company Cargill Caterpillar Foundation Cingular Deloitte Foundation DST Systems Inc. Eaton Charitable Fund Eli Lilly & Company Foundation Emerson Charitable Trust ExxonMobil Foundation FBL Financial Group Inc. First Data Corporation General Electric Fund General Mills Foundation GlaxoSmithKline GMG Foundation H & R Block Foundation Harris Bank Foundation Hormel Foods Corporation Charitable Trust HSBC—North America IBM Corp-CT ING Foundation Ingersoll-Rand Foundation Johnson & Johnson Key Foundation KPMG Foundation Kraft Foods May Department Stores Company Foundation Maytag Corporation Foundation

Meredith Corporation Foundation MetLife Foundation Microsoft Corporation MidAmerican Energy Foundation Nationwide Foundation NCS Pearson Northrop Grumman Foundation Oklahoma Gas & Electric Company Pella Rolscreen Foundation Pepsico Foundation Inc. Pioneer Hi-Bred PPG Industries Foundation Principal Financial Group Foundation Procter & Gamble Company Prudential Foundation RBC Dain Rauscher Foundation Robert Half International Rockwell Collins RuffaloCody SC Johnson Fund Inc. Sprint Foundation State Farm Companies Foundation Syngenta Takeda Pharmaceuticals NA TCF Financial Corporation Temple-Inland Foundation Thomson West Corporation Time Warner Inc. U.S. Bancorp Foundation Union Pacific Corporation UPS Foundation, Inc. Verizon Walt Disney Company Foundation Wells Fargo Foundation Whirlpool Foundation Xcel Energy

The following donors were inadvertently left out of the fall 2006 issue of Prospectus. Please accept our sincere apology and thanks for your commitment to excellence.

Denise & Al Essman Don & Valborg Guthrie Howard & Richalie Hecht Charles & Margo Wood

35

DR. CHARLES HANDY

COLLEGE OF BUSINESS

Administration From the Desk of Founding Dean Charles Handy

Labh S. Hira

Richard F. Poist

Amy R. Hutter

Dean

Chair, Department of Logistics, Operations, and Management Information Systems

Director, MBA Recruitment and Marketing

Michael R. Crum Associate Dean, Graduate Programs

Soma Mitra Ronald J. Ackerman

Academic Fiscal Officer

Director, Graduate Admissions

Kay M. Palan Associate Dean, Undergraduate Programs

Mark S. Peterson Steven T. Carter

Director, Graduate Career Services

Director, Pappajohn Center for Entrepreneurship

On September 29, 2006, I had the honor of attending the inauguration of Dr. Ben Allen

Less visible are the contributions of non-teaching support staff in achieving our college goal.

36

as president of the University of Northern Iowa.

As the story in the fall 2006 Prospectus mentioned, Dr. Allen joined Iowa State’s Department of Industrial Administration in 1979. It is well recognized that hiring him and faculty members with similar academic credentials was a major reason why Iowa State’s business program was able to achieve college status in 1984.

But less visible are the contributions of nonteaching support staff in achieving our college goal. I want to take this opportunity to visit about two of them.

I was appointed temporary chairman of the Department of Industrial Administration in June of 1978. Shortly after, I initiated a search for a personal secretary. In doing so, I was impressed by a young lady named Cheryl Snider. (Later she married Ronald Shreve.) Her most recent employer had been the on-campus studio of WOI Radio/TV. On inquiry, Cheryl’s supervisor at WOI commented that she was a good secretary, but said, “I could never find her.” During our second interview, I brought the statement to Cheryl’s attention.

She looked at me and immediately replied, “He could never find me; he is the person difficult to locate!”

That comment showed spunk. I made the hire.

Throughout my leadership years, Cheryl could always be found. Not only were her dependable services an important ingredient in achieving success in my various business program undertakings, but they were also a great assist for Associate Dean August Ralston. I say without reservation, she is the most efficient typist I have ever worked with. Since leaving the dean’s office, Cheryl has held various staff positions in the college. She is currently working with Jeremy Galvin in the development office.

Marvin L. Bouillon

Daniel J. Ryan

Chair, Department of Accounting Chair, Department of Finance

Ann Coppernoll Farni

Thomas I. Chacko

Jeremy D. Galvin

Chair, Department of Management Chair, Department of Marketing

Director of Development

Director, Marketing and Alumni Relations

Director, Undergraduate Programs

Jon R. Ryan Director, Small Business Development Centers

Kathryn K. Wieland Robin R. Habeger

Director, Business Career Services

Director, Business and Industry Relations

Dean’s Advisory Council In 1983, my administrative assistant’s position became vacant. This was a key position so I immediately started interviewing. A young man named Ron Ackerman impressed me. He held an undergraduate degree in accounting from the University of Michigan and had recently completed our Business (formerly called “Industrial”) Administrative Sciences master’s program. At the time, he was doing outdoor work for Iowa State’s Administrative Data Processing Center. It was summer and we were going through a heat wave. In offering him the position, I indicated the pay was not too great.

He said he would do anything to get inside and away from the outside heat. It was another great hire.

Ron proved to be a dependable and valued colleague. His writing and editorial assistance was invaluable. He was also an excellent sounding board as I evaluated various program undertakings.

He is now the director of Graduate Admissions and Student Services for the college. Incidentally, with the assistance of his CPA father, Ron suggested Prospectus as the name for this magazine.

Today I am called the college’s founding dean and a painting of me hangs in the Gerdin Business Building. There should be a sign below the picture that reads, “He was served well by both his secretary and his administrative assistant.” Thanks Cheryl and Ron. ■ VOLUME 23 NUMBER 1

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Craig A. Petermeier ’78, Chair

James F. Frein ‘67

Susan B. Parks ‘79

President and CEO Jacobson Companies

President, Retired Hutchinson, Shockey, Erley & Co

Chief Executive Officer WalkStyles, Inc.

Ronald D. Banse ‘75

David C. Garfield ‘50

Kevin K. Prien ‘84

Assistant General Auditor Union Pacific Corporation

President, Retired Ingersoll-Rand Co.

Partner McGladrey & Pullen, LLP

Raymond M. Beebe ‘64

Russell Gerdin

David W. Raisbeck ‘71

Vice President, General Counsel and Secretary Winnebago Industries, Inc.

Chairman and CEO Heartland Express, Inc.

Vice Chairman Cargill, Inc.

Kelley A. Bergstrom ‘65

William R. Hahn ‘73

Frank Ross ‘84

President Bergstrom Investment Management, LLC

Senior Vice President, Corporate Relations, Retired Agilent Technologies, Inc.

Vice President- North America Operations Pioneer Hi-Bred International, Inc.

Steve W. Bergstrom ‘79

Isaiah Harris, Jr. ‘74

George H. Schaller ‘62

Consultant Montgomery, TX

Consultant

President Citizens First National Bank

G. Steven Dapper ‘69

Division President National Consumer and Institutional Lending Wells Fargo Home Mortgage

Steven T. Schuler ‘73

Founder and Chairman hawkeye | GROUP

John D. DeVries ‘59

Brad J. Holiday ‘76

Ned L. Skinner ‘74

Cara K. Heiden ‘78

CEO Colorfx

Senior Executive Vice President and CFO Callaway Golf Company

Jerald K. Dittmer ‘80

Daniel J. Houston ‘84

Vice President and Chief Financial Officer HNI Corporation

Executive Vice President Principal Financial Group

David J. Drury ‘66

Richard N. Jurgens ‘71

Chairman and CEO, Retired The Principal Financial Group

David K. Ecklund ‘72 Vice President, Client Services, Retired Caterpillar Logistics Services, Inc.

Denise I. Essman ‘73 President and CEO Essman/Associates Essman/Research

Beth E. Ford ‘86 Senior Vice President, Global Operations and IT Scholastic, Inc.

Chairman, Chief Executive Officer, and President Hy-Vee, Inc.

Daniel L. Krieger ‘59 President Ames National Corporation

Cheryl G. Krongard ‘77 Partner, Retired Apollo Management LP

Robert E. McLaughlin ‘60 Partner Steptoe & Johnson LLP

Timothy J. O’Donovan ‘68 Chairman of the Board and CEO Wolverine World Wide Inc.

Senior Vice President and CFO Federal Home Loan Bank of Des Moines

President U.S. Coffee and Tea Company

Walter W. Smith ‘69 Chief Executive Officer ITWC Polyurethane

John H. Stafford ‘76 Vice President, Business Financial Services General Mills, Inc.

Gary J. Streit ‘72 President Shuttleworth & Ingersoll, P.L.C.

Jane Sturgeon ‘85 Senior Vice President, CFO and Treasurer Barr-Nunn Transportation, Inc.

Jill A. Wagner ‘76 Vice President of Marketing Cablevision

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