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Raisbeck Endowed Dean . . . . . . . . . . . . . . . . . . . . . . . Labh Hira Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dan Ryan Photo Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Katie Raymon Writers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deborah Martinez Dan Ryan Dennis Smith Design . . . . . . . . . . . . . . . . . . . . . . . PUSH Branding and Design Photographers . . . . . . . . . . . . . . . . . . . . . . . . . . . Farshid Assassi Beth Romer Printing . . . . . . . . . . . . . . . . . . . . . . . . Phillips Brothers Printing Contact College of Business Robert H. Cox Dean’s Suite 2200 Gerdin Business Building Ames, Iowa 50011-1350 515 294-3656 business@iastate.edu www.business.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, 3280 Beardshear Hall, 515 294-7612.
The College of Business at Iowa State University is accredited by AACSB International— The Association to Advance Collegiate Schools of Business. The AACSB is the premier accrediting and service agency and service organization for business schools.
2034
Features
As the college celebrates its anniversary, Prospectus analyzes the trends that will shape the next 25 years of business education.
Introduction 3 Globalization and the Global Economy 7 Technology and Innovation 10
Energy and the Environment 13 Policy and Regulation 16
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The Timeline A look back at the
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college’s history.
Remembering Dale Voorhees Accomplished faculty
member passes away.
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PhD ������ � � �Program ��� ����� Launches Meet the inaugural class.
ON THE COVER
Departments 2 27 29
Dean Labh Hira Alumni News Faculty and Staff News
THE COLLEGE OF BUSINESS COMMEMORATES ITS TWENTY-FIFTH ANNIVERSARY
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AS A COLLEGE IN 2009-2010.
Development Dr. Charles Handy
M ESSA GE FR O M THE DEA N
The Next 25 Years As you can tell from our cover, this is a milestone year for the College of Business. And we feel like celebrating. Imagine the year 2034. What are the emerging realities of the business world?
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The 2009-2010 academic year is our twentyfifth as a college at Iowa State University. Although business education at Iowa State actually dates back to the 1920s, it wasn’t until 1983 when we were finally granted college status—and on July 1, 1984, it became official. In this anniversary year, we welcome many new faces to the college, including 10 new faculty members and a number of new staff members, which you can read about on page 29. There are also eight new faces that I am especially proud to welcome: the inaugural class of our PhD program. We are very excited to have this class in the college to launch the doctoral program. An update on this new program and profiles of its first class of students is on page 22. This is at once the most exciting and the most challenging time in the college’s history. We celebrate our twenty-fifth anniversary in the most difficult budget environment we have ever experienced. The College of Business, like every other unit at Iowa State, absorbed significant budget reductions in 2008-2009. I expect upcoming years to be similarly challenging. I have urged all of our faculty and staff to seek out ideas for more efficient ways to deploy our resources, and their perseverance will be critical to our continued success. Despite these challenges, I have an overwhelming confidence that our future is brighter than ever. We have significant achievements to celebrate throughout our college. Our undergraduate program continues to thrive. We have made significant curriculum changes to enhance the experience of our undergraduates. Our
Gerdin Citizenship Program, now entering its third year, has proven so successful that a new program, Leadership in Action, is underway to further develop graduates of the Gerdin Citizenship Program as tomorrow’s business leaders. At the graduate level, our MBA ranking is higher than ever, and we are making curriculum changes to enhance that program as well. And having fulfilled our mission of creating a doctoral program, we are now focused on recruiting and developing outstanding business researchers and educators. We are at last a truly comprehensive business college, and that is a credit to our faculty, staff, and alumni and friends who have been dedicated to getting us here. In this issue, we are taking a unique perspective on our anniversary. We wanted to think about what the next 25 years in business education will look like. Imagine the year 2034. What are the emerging realities of the business world? How will external events shape what happens inside our classrooms? What kinds of skills and attributes will be necessary to thrive in this environment? We asked those questions, and emerged with what I think are some fascinating perspectives and ideas. Regardless of events in the broader business world, I know that we will continue our ascent as one of the nation’s best business schools. I hope that you are as proud of your college as I am. ■
Labh S. Hira, Raisbeck Endowed Dean
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THE COLLEGE AT 25
Boundless Challenge
Boundless Youth As institutions go, 25 years is not a long time. Iowa State celebrated its 150th birthday last year. Harvard is a mature 373, and Britain’s Oxford University dates to 1188.
Still, since the founding of the College of Business in 1984, Iowa, the nation, and the world have changed profoundly. Global Communism has collapsed and free markets have risen from the ruins of state-controlled economies, even in China, a “communist” state, yet still the 21st-century’s economic colossus. This capitalist ascendancy, moreover, has been driven by a technological revolution the likes of which the world has never seen. The result is a global economy that reaches every corner of the Earth, and upon which the fortunes of nations rise and fall together. That those fortunes have fallen so far so fast in the past year is testament to the powerful forces sweeping the globe, with increasing calls to more strictly regulate business at both the national and international levels. At least as compelling are the warnings of impending
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ecological disaster, as the material resources on which business depends become scarcer in a world burdened by climate change and the demands of the growing human family.
THE CORE MISSION REMAINS Clearly, the business student of 2009 is not the student of 1984. And, as the world has changed, so must the College of Business in order to prepare its graduates for a world that in the next 25 years will undoubtedly change at least as much as it has in the past 25. Some things, however, will not change. “Our core mission will remain the same,” says Labh Hira, the Raisbeck Endowed Dean at the College of Business. “We’re in the business of transforming lives. We get kids from small-town Iowa, they come here with a deer-in-the-headlights look—many are the first in their families to go to college.
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Since the founding of the College of Business in 1984, Iowa, the nation, and the world have changed profoundly. “But they’re well-grounded human beings,” Hira continues. “Our goal is to mold them into professionals over the four, five, or six years they are with us.” Though stressing a core mission, those flexible time frames acknowledge the greater demands of a business education in the 21st century. The successful business graduate can no longer assume a four-years-and-out education, or even five years. In fact, Hira says, as the marketplace becomes more sophisticated, the master’s degree and the MBA will be as important as the undergraduate degree was at the college’s founding. “Over time,” Hira offers, “you’ll be seeing more of our students coming back, pursuing a master’s degree on a part-time basis while they’re working.”
A C A L L T O DO MORE What form those master’s degrees take will be responsive to the needs of business. However, notes Mark Peterson, director of Graduate Career Services, the college is particularly well positioned to address those needs. The college’s partnerships with several engineering departments in joint BS-MBA programs, he notes, give Iowa State a distinct advantage in today’s marketplace over schools emphasizing finance, marketing and management in the MBA. Equally fortuitous is another of the college’s historical strengths. “One of the biggest things for the future is companies’ drives to optimize their supply chains,” Peterson says. “Companies tell me there’s no end in sight, so MBAs with a supply chain focus are going to be in huge demand. And we’re in a really good place for that.” In an era of diminishing resources, supply chain issues focus on sustainability in both the economic and environmental senses. However, Peterson says, in the 2010 entering class for MBAs there will be a much greater focus on
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sustainability generally, with the possibility that the college’s MBA in sustainable agriculture may one day evolve into the kind of credential that qualifies its holder to serve as a corporate “CGO,” or chief green officer. Yet, because the world can’t wait for the machinery of academic committees and accreditation processes, neither is the college waiting to realign its focus on the needs of the business community over the next 25 years. “How do we incorporate sustainable business practices and social responsibility more formally across our curriculum?” asks Associate Dean Kay Palan. “How do we work with parts of the world that are not as developed as we are? There’s a whole range of things there we need to be doing more about.”
‘ENVIRONMENTAL AWARENESS’ K E Y Addressing those issues in the curriculum, Palan, acknowledges, can be difficult, given the pace of change and the continual emergence of new challenges. “We could prepare students to graduate in December,” she says, “and by June, who knows? There could be an entirely new set of regulations in place.” Increasingly, Palan stresses, the responsibility of the college to its students lies not so much in preparing them to tackle specific business challenges, but instead in more rigorously cultivating what she calls a broader “environmental awareness” with regard to economics, regulation, and technology, as well as environmental concerns as conventionally understood. That’s a focus Palan shares with her colleague, Mike Crum, associate dean and John and Ruth DeVries Endowed Chair in Business. Citing the “triple bottom line,” Crum places responsibility for remediating the global economic and environmental crises squarely on the shoulders of the business community. “People, the planet, and profits: they can work together,” Crum insists, “and business is the most efficient mechanism for achieving this. “We want our students, as they get into leadership positions, to promote these values and practices,” Crum continues. “We’ve always had a focus on social responsibility, but we’ve never made that explicit as the
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“How do we incorporate sustainable business practices and social responsibility more formally across our curriculum?” Kay Palan thread through our curriculum. So, after the most recent set of scandals, we decided to be more out front with it. We feel that will resonate with the kind of student we want to attract.”
A C H A L L E N GE TO THE YOUNG In a globalizing economy, one kind of student the college is increasingly attracting comes from overseas: in the last two years alone, notes Director of Undergraduate Programs Ann Coppernoll, the number of international students enrolling in the college has risen dramatically. For last year’s spring orientation alone, she says, the college welcomed 101 foreign freshmen—mostly from China. “Language becomes an issue for us for a number of reasons,” Coppernoll observes. And since these students are largely 17- and 18-year-olds, she adds, on top of the language barrier are the same socialization issues any young person has when away from home and family for the first time, aggravated by adjustment to a radically different culture. Challenges exist for native undergraduates as well. In addition to negotiating foreign cultures themselves, today’s students must grapple with a dizzying array of online technologies for seeking and securing employment in the global competition for jobs. That’s a two-edged sword, observes Kathy Wieland, director of Business Career Services. “The market seems to want to consume more technical talent,” she concedes. Yet with the explosion of social networking sites and an online application process, she fears job seekers may lose sight of the skills needed to succeed in the market. “In the next 25 years, I’d really like to find the sweet spot between technology and the face-to-face,” Wieland
“In the next 25 years, I’d really like to find the sweet spot between technology and the face-to-face.”
says, “the melding of high-touch and high-tech where employers and candidates can meet. We definitely have gaps between what students do online and what they do face-to-face that make the process difficult right now.”
THE COLLEGE MATURES Perhaps the most significant change over the next 25 years will be heralded by the college’s first class of PhD candidates this fall. Not only does the PhD program signal the maturity of business studies at Iowa State, it benefits everyone associated with the college, from entering freshmen to senior faculty members. “Just like any other faculty, our dream was to have a PhD program to train and mentor students at that level,” says Hira. “And the PhD program has an ‘echo’ effect on our undergraduates: you get a better faculty, you attract better students.”
“The PhD program has an ‘echo’ effect on our undergraduates: you get a better faculty, you attract better students.” Labh Hira And, adds Crum, the benefits aren’t limited to students, but extend to college alumni as well. “As the reputation of your institution improves,” he notes, “your degree is perceived as more valuable.” Those dividends will be paid over the next 25 years, as Iowa State business PhDs conduct research, publish scholarly articles, and assume faculty positions at other institutions, disseminating the Iowa State business brand nationally. In the meantime, college faculty and students at all levels are preparing to meet the challenges of the next 25 years today. In the following pages, we lay down those challenges in four distinct yet intimately connected areas: innovation and technology, globalization and the global economy, energy and the environment, and policy and regulation. The challenges are formidable, but so are the opportunities. The College of Business may be barely older than its youngest graduates, but it shares with them energy, idealism, openness to new ideas—and every other advantage of youth. ■
Kathy Wieland
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T H E C O L L E G E A T 2 5 : G L O B A L I Z AT I O N A N D T H E G L O B A L E C O N O M Y
Out of Iowa
Into the World From a common classroom in 1979, a teacher and her student take their places on the international stage of business.
International business your calling? Today, you can run your global operations stateside from your iPhone. For others, though, there’s nothing quite like being “on the ground,” especially if you’re seeking a career with a large multinational concern. Either way, today’s students will necessarily be tomorrow’s international businessmen and women. And in a global economy that is more interconnected by the day, the College of Business must give those students the tools they’ll need to compete on a global stage.
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EYES WIDE SHUT That wasn’t the case 25 years ago, when Jan Van Ekeren (’81 Industrial Administration) sat in the accounting classroom of Cyndie Jeffrey, a young teaching assistant in the industrial administration program. Van Ekeren hadn’t studied a foreign language at the New Monroe Community School nor at Iowa State, which dropped the language requirement before she matriculated. But that was OK—Van Ekeren didn’t plan to leave Iowa. Landing a job in Des Moines after graduating, she was well on her way toward a modest career in a state known for its modesty. Yet by 1983, Van Ekeren had been lured to Chicago by a corporate headhunter who convinced her that
the Chicago suburb of Rolling Meadows, home of manufacturer McGraw-Edison, was “Iowa-like” in its culture and pastoral setting. After all, company founder Max McGraw was himself a native Iowan—but that’s where the similarity ended. “It was a big leap for me,” Van Ekeren recalls. “But I just closed my eyes and jumped—and ended up in Paris for six months. It was a whole other world, very different from Iowa.” Since making that leap, Van Ekeren has opened her eyes to the world. She’s directed foreign operations for global banking concerns across Europe from her London-based headquarters. She’s been posted to Singapore, Hong Kong, and now Bangkok, where she is CFO and executive director of the Bank of
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“But I just closed my eyes and jumped— and ended up in Paris for six months. It was a whole other world, very different from Iowa.” Jan Van Ekeren Ayudhya, managing $22 billion in assets and driving growth across 582 branches of the GE Money joint venture.
A P O LY G L O T BUSINESS E D U C AT I O N A generation later, the pace of economic globalization has only accelerated. Van Ekeren’s former accounting teacher, now an associate professor and the Bandle Faculty Fellow in Accounting, reflects in her Gerdin Business Building office on 25 years of dramatic change in international business—and foresees an even more dramatically different future. “Accounting’s been around for over 500 years,” Cyndie Jeffrey observes, “and the business model has changed more in the last 30 years than in the prior 470. Because of technology, communications, and globalization, business has become much more complex very, very quickly.” Jeffrey believes students should have a rigorous preparation to deal with this complexity, and that means things Van Ekeren scarcely imagined 30 years ago—travel abroad, overseas internships, the study of foreign languages and culture. Today, though, Jeffrey contemplates another form of linguistics: the looming “translation” from Generally Accepted Accounting Principles (GAAP) to
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tremendous career opportunities, because all of a sudden you’re a global rather than just a local player. You’re an auditor; you can go anywhere.”
BORN TO GO GLOB A L International Financial Reporting Standards (IFRS). In a globalized economy, she says, the move is both necessary and inevitable. “A single language worldwide to talk about what businesses have done,” Jeffrey notes, “will facilitate the efficient allocation of capital and resources, because we would be talking a common language and, hopefully, have easier comparability.”
In order to succeed in the globalized economy, then, students must become not just bilingual or even trilingual, but multilingual— conversant not only in, say, English and Mandarin, but also in both GAAP and IFRS in order to help their companies “translate” to IFRS. It’s an added educational burden, Jeffrey concedes, but one that is not without its rewards. “That opens up
Virginia Roberson, a senior in accounting and international business and president of ISU’s International Business Club, experienced that mobility firsthand this summer when she served an internship with Landesbank Baden-Württemberg in Mannheim, Germany. If anyone was born to be Jeffrey’s “global player,” Roberson’s that person, with advantages Van Ekeren never dreamed of in the ’60s and ’70s: her mother is a native German and a professional accountant, and she enjoyed extended stays with her German relatives growing up. In fact, she lived in Germany six years, becoming fluent in the language—and disposed to learning others. “I chose accounting in particular because it’s the language of business,” Roberson says. “That allows you to have some versatility.” While language study and the new international standards will play critical roles in educating students in years to come, Roberson feels equally strongly about other “languages” in which Americans must become fluent in order to compete in global markets. These include a better understanding of geopolitics and international relations, as well as
“Accounting’s been around for over 500 years, and the business model has changed more in the last 30 years than in the prior 470.” Cyndie Jeffrey
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the cultures of people who have not always seen eye-to-eye with the United States. “At the bank in Germany where I did my internship,” Roberson says, “the U.S. relationship with certain countries in the Middle East had to be taken into consideration, and the business the bank did was limited as conflict between those countries and the United States escalated. “Another challenge is cultural or legal differences,” she continues. “The differences in business practices and expectations play a huge role in the business relationship.”
B R I D G I N G T HE C U LT U R A L G AP Nowhere is sensitivity to cultural differences more critical than in the audit relationship—particularly, Van Ekeren notes, in traditional cultures where social and political hierarchies more rigidly define status than in the United States. “Asian culture is very different: it starts with the family, and the young are not quick to challenge,” Van Ekeren observes. “So there’s a great deal of deference to senior leadership. But if you look at the typical audit relationship, you have young teams coming in to audit senior, much more experienced business teams, and it’s not in their nature to challenge and question.” That’s a situation, Jeffrey notes, fraught with even more risk for young Americans sent overseas to audit foreign operations. “If I’m an auditor, and I come into an Asian company,” she asks, “do I feel comfortable challenging management as to whether they’re giving me the honest truth? “In the United States, that can be hard too,” she continues. ”But we have
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“I chose accounting in particular because it’s the language of business. That allows you to have some versatility.” Virginia Roberson a culture where that is acceptable— I can challenge the president of the United States, if I want to. But that is not necessarily acceptable in other cultures. So, does that affect the audit?” That question informs Jeffrey’s scholarship, and she believes its importance will only grow in the future. Indeed, while she feels the college eventually may no longer teach “international accounting” due to the eventual convergence of GAAP and IFRS, the increasing
into the unknown, but instead a leg up through knowledge. And those students will have international careers—even if they never leave Iowa. “In 1994, when I started offering the international accounting course,” Jeffrey recalls, “I asked a partner at one of the major firms in Des Moines, ‘Which would you prefer, if we offered a master of tax here or tried to internationalize our program?’ He told me, ‘master of tax.’ “About four years later,” Jeffrey continues, “he came to me and said, ‘Do you know anybody who speaks French?’ He had a client he couldn’t talk to—in Des Moines, Iowa. And he needed a translator who knew both business and French. If he couldn’t deal with the international subsidiaries of his clients, he was going to lose them.”
“The challenge for Iowa State is to position people for this. How do you open their minds, help them think of things in a new way?” Jan Van Ekeren presence of American accounting practices—not to mention American accounting practitioners—will require continuing attention in b-school curriculums in order to navigate potential cultural pitfalls.
PARLEZ-VOUS ‘BUSINESS’? While these questions have some immediacy for a more cosmopolitan student, most entering the college in the next 25 years will likely still resemble Jan Van Ekeren in 1979 than Virginia Roberson 30 years later. However, unlike Van Ekeren, tomorrow’s students will begin their international careers not with a leap
For a former small-town girl from Iowa, though, the challenge transcends business itself to touch upon questions of core identity—and an individual’s relationship to a much larger world. The role of the college, she suggests, can be transformative. “The challenge for Iowa State is to position people for this,” Van Ekeren says. “How do you open their minds, help them think of things in a new way? “It’s challenging,” she adds. “You’re dealing with many more dimensions than you would staying in a more homogeneous environment. But it’s very rewarding.” ■
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Hands on the Keyboard
Heads in the Clouds Generations of college graduates—past and to come—will master business by mastering technology.
On a midsummer afternoon, Tim Hackbarth (’07 Marketing) sits in a coffee shop across the street from Drake University in Des Moines. The 24-year-old is dressed for success: t-shirt, jeans, iPhone—and a laptop with a sweet network card. Hackbarth is at work. Conducting business. Internationally. “My office is in my bag. I have files on my laptop, but most of my work is online,” says the online ad consultant and broker of Web design services. He takes a quick sip of his drink. “Stop me if I go too long, but you’ve touched on my passion.”
“ W E M A K E M AGIC” You might dismiss Hackbarth as a dreamer, another twenty-something laptop jockey who eventually will drop the act, pick up a nice suit for interviews, and channel some of that passion toward getting a “real” job.
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First, though, consider touching as well the passion of Dale Renner. A 1978 grad, Renner bought the interview suit—and promptly turned down a $35,000 salary from International Harvester to work instead for Arthur Andersen at $14,800 a year. “I took that job because I thought it would give me the best first experience,” Renner says, “lots of exposure to lots of different situations.” Renner went to work building Andersen’s customer relations management operation (CRM) from the ground up. By the time Andersen Consulting split from its parent company in 1989, Renner had become a partner, growing his office into the top CRM operation in the world. Challenge met, in 1999 Renner hung up the “suit” and walked out the door. “I wanted to run a company,” he says. It was the end of the dot.com boom, so Renner picked up an operation with 110 people and no revenue, at a fire sale price, and rebranded it as Seisint, Inc. He strung together clusters of in-memory computers, built a database of 20 billion records of Americans,
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“When we first talked with faculty, it was like, ‘Entrepreneurship? What the hell is that?’” Steve Carter and added proprietary linking logic to create profiles of individuals comprised of virtually all their public and financial information. Renner then allowed subscribers to run instant credit and criminal checks at a quarter a click with a $3.75 maximum, making standard credit bureau inquiries instantly obsolete. After 9/11, his team created a set of “terrorist factor scores” that turned up six of the 9/11 hijackers. The feds were impressed, and so was Nexis-Lexis, which bought Seisint in 2004 for a tidy $775 million. Next, Renner bought part of a British firm that was doing analytical CRM, relocated it to the United States, built it up and, in early 2006, flipped it to global credit giant Experian for $160 million. Always restless, Renner went back to work and started RedPoint, a new data management enterprise—at his dining room table. “We make magic out of data,” Renner says of his concept-driven, software-as-service database model. “We’ve created our own cloud environment aimed at compiling and managing data for our clients in both the structured and unstructured data worlds.”
WHAT IS ENTREPRENEURSHIP? Renner could be Tim Hackbarth’s father. Despite being a generation apart, though, the men are spiritual brothers, fiercely independent and using their entrepreneurial energy to ride an ever-accelerating wave of technological innovation that not only has changed how business is done, but increasingly informs the very essence of business itself in the 21st century. Nowhere is this wave more evident than at the Pappajohn Center for Entrepreneurship, whose director, Steve Carter, is also president of the ISU Research Park, a self-described “technology community and incubator of new and expanding businesses.” Carter helps innovators and entrepreneurs—the titles are increasingly interchangeable—ride the wave every day. That wasn’t the case as recently as the early 1990s. Entrepreneurship was, at best, a quasi-exotic subspecies of a business curriculum still designed primarily to produce workers for the nation’s mainline industries. And, Carter notes, it wasn’t even on the radar of the non-business community. “When we first talked with faculty, it was like, ‘Entrepreneurship? What the hell is that?’” Carter chuckles. “That’s not the case now. Faculty are interested.” And not just faculty. That interest in entrepreneurship has risen steeply with the explosion in information technology since the college’s founding in 1984 is hardly a coincidence. The Internet is a profoundly democratic means of communication, and its commercial side in the World Wide Web has significantly expanded the value of intellectual capital, not just for the well-heeled and established, but for the young and creative as well. “The Internet continues to have a significant impact on our economy and way of life,” Carter observes. “I see a compressing of the waves of innovation, and a recognition that real opportunity for future growth and quality jobs is being generated by the entrepreneurial sector, not the large corporate sector as it was 15 years ago.”
EYES OPEN TO THE WORLD It should be no surprise, then, that college leaders should stress the importance of entrepreneurship and technological innovation—especially information technology—to a quality business education over the next 25 years. Newly appointed chair of logistics, operations, and management information systems Qing Hu embodies the transformative power of technological awareness. Trained
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“IT is the backbone of every organization. And IT is going to continue to lead innovation in business, with new uses we never imagined.” Qing Hu originally as a mechanical engineer in heavy equipment manufacturing, Hu’s life changed dramatically when he left China to visit Europe on a tech transfer tour in 1986. “That opened my eyes to the world,” Hu acknowledges. “It seemed to me the world and technology was changing, and what I had learned was actually very little.” By 1989 Hu found himself in a PhD program in computer information systems at the University of Miami, where he studied artificial intelligence as a prelude to specializing in management information systems and IT security issues. Today, the former heavy equipment engineer is a rising figure in MIS, and a vigorous advocate for the mastery of information technology by students in any field of study in the college. “IT has merged with every business function,” Hu stresses. “It’s the backbone of every organization. And IT is going to continue to lead innovation in business, with new uses we never imagined.” Hu points to the so-called “Web 2.0”—including the “cloud” entrepreneurs such as Renner and Hackbarth exploit—as one means over the next 10 to 15 years by which the Internet will organize society, including the business sector. Web 2.0 emerged not as a top-down movement, Hu reminds, but from the grassroots: MySpace and Facebook expanded almost overnight, and in a couple of years changed from a college social network into a global social network.
“ I T ’ S A B O U T UNDERSTANDING T H E T E C H N OLOGIES”
“We’re a business school, and we’re supposed to educate our students to have more managerial skills and knowledge,” Hu reminds. “So we want our students to be technically competent, but at the same time more managerially savvy.” As an innovator who has successfully worked both sides of the entrepreneurial-corporate divide, Dale Renner supports Hu’s distinction between a technical and a managerial understanding of the surging waves of technological innovation—and its importance to an Iowa State business education over the college’s next 25 years. “It isn’t about a given technology,” Renner says. “It’s about understanding the technologies—how to use them, how to apply them, how to make them work for you. Everybody may not be a technologist, but, at least in the business world, you’ve got to understand how to use technology to make yourself efficient.” Tim Hackbarth understands. In 25 years, he says, he’ll still be totally virtual and working his global network of clients and freelancers. “The interactivity we’ll have will be stronger, and our collaboration will be better than it is now in an office sitting right next to someone,” he insists as he scrolls through messages on his iPhone. Payments from clients, invoices from vendors, project files from freelancers in Venezuela, India, and the Philippines—all wait to be downloaded. It may be a sunny day in July, but Hackbarth’s head is in that worldwide business “cloud.” And why not? Like Renner before him, the man is a born rainmaker. ■
“The interactivity we’ll have will be stronger, and our collaboration will be better than it is now in an office sitting right next to someone.” Jan Van Ekeren
With the rise of the Internet, the application of information technology in business has become less a technical than a managerial tool, Hu says. So whether they strike out on their own like Renner and Hackbarth, or sign on with a giant multinational, he believes that students who leave Iowa State without a solid grounding in IT will be no better prepared for success in business than he was as an engineer of heavy equipment in the 1980s.
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THE COLLEGE AT 25: ENERGY AND THE ENVIRONMENT
The College as the
Cradle of CGOs From a common classroom in 1979, a teacher and her student take their places on the international stage of business.
America was emerging from recession in 1984 when the College of Business was born. The shocks to the economy from the energy crisis of the ’70s and double-digit “stagflation” were fading. It was “morning in America.” Business was booming. Conspicuous consumption was back. Gas was cheap and plentiful, with elephantine SUVs lumbering off production lines. The environmental movement? An afterthought, relegated to academics, the “radical” fringe, and Earth Day programs for schoolchildren. No longer.
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NEW CURES FOR ENERGY HANGOVERS When our current recession ends, things will look much different. The nation has been on a financial and environmental bender the past quarter century, and is now waking up to the hangover. Grim resolutions are made: things will be different this time. However, this time it will take more than grim resolution. It will take vision and creativity, not only on the parts of individuals, but institutions as well. It will take dedication and follow-through. Merry Rankin, Iowa State’s director of sustainability and a 1987 College of Business graduate, knows something about the vision and
creativity needed to get society on the wagon, so to speak, toward a more sustainable future. So does MBA candidate Nicholas McCann. Both came to Iowa State not to follow any triedand-true career path, but instead to realize unique visions for themselves and the world in devising programs of graduate study for the 21st century, new career tracks that may soon enter the curricular mainstream in the College of Business. And there’s nothing “grim” about their resolve. “I think there’s a great need in education for understanding our energy sources, our energy uses, our energy conservation, and the environmental arena,” says Rankin. “It’s
13
“I think there’s a great need in education for understanding our energy sources, our energy uses, our energy conservation, and the environmental arena.” Merry Rankin the journey that has led us to where we are today, and where we must go in the next 25 years.”
A C A R E E R AT A C R O S S R O ADS Twenty-five years ago, Rankin was a new graduate who had studied marketing, trans-log and management. After several positions in retail, by 1990 she found herself laid off and “at a crossroads” in her young professional life. Raised on a family farm in southern Iowa, and steeped in the environmental principles that come with stewardship of the land, Rankin instinctively knew which road a young businesswoman should take at this juncture in her career: she would go back to Iowa State for her master’s degree—in wildlife management. “I was interested in how people who had a lot of influence in natural resources interacted with the environment, and how they made decisions that impacted the environment,” Rankin says. In other words, Rankin found management at least as compelling as the wildlife aspect of her studies, a double focus that led her to craft a novel master’s program and write a thesis on the environmental activities and actions of Iowa businesses and
14
industry. In the course of her studies and after, she pursued a number of foreign opportunities, working on wildlife and environmental projects in Australia, India, Costa Rica and South Africa before landing with Iowa’s Department of Natural Resources.
SPEAKING TWO LANGUAGES Like Rankin, Nicholas McCann, a Miami-Ohio graduate with a double major in business and German, wanted to bridge the divide between business and the environment. And, like her, his environmental instincts were galvanized overseas—in his case, working on sustainable irrigation and soil erosion projects for subsistence farmers in Haiti. Today, McCann is working toward his MBA with an emphasis on sustainable agriculture. And, befitting the double major he pursued as an undergraduate, he views his work through the lens of “linguistics.” “I think there’s a big disconnect between the environmental world and the business world,” McCann offers. “People don’t speak the same language. “One of the great opportunities in my program,” he continues, “is that I get to learn two languages: sustainable ag, so I understand the ecological principles people are talking about; and, on the economic plane, why people say they can’t do this, that or the other.” Not only are people like McCann and Rankin transitional in the business world, then, they’re “translational”
as well, serving to mediate the divide between business and the environment, while exposing that divide as illusory when viewed from a broader perspective. “To say that our economic systems are separate from ecological systems violates some law of thermodynamics,” McCann jokes. “When you look at it from a systems perspective, they can’t be divorced.” That’s a perspective shared by Frank Montabon, associate professor of operations and supply chain management and McCann’s adviser. “The environment is not an imposition,” he insists. “If you’re making windows out of wood, it’s in your interest that there’s a sustainable supply of wood. If you’re making beer, it’s in your interest that there’s a reliable supply of clean water.”
RISE OF THE CGO Given the heightened environmental awareness of consumers, beyond ensuring a business’s supply chain, “going green” can also support a company’s customer relationships. That’s a central tenet of the marketing strategy of Minnesota-based utility Xcel Energy, according to 1984 grad Mark Stoering. “One thing driving our renewable energy strategy,” notes Stoering, “is driving customer interest in being green companies, sustainable companies not only promoting energy efficiency with their own employees, but representing to customers that they’re taking initiatives in that direction.”
“I think there’s a big disconnect between the environmental world and the business world. People don’t speak the same language.” Nicholas McCann
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And, Stoering insists, it’s not just “greenwashing” otherwise environmentally suspect operations— customers, he says, will wise up to that quickly in today’s information environment. As vice president of portfolio strategy and business development for Xcel, Stoering works with many of the Fortune 500 companies based in the Twin Cities to elevate both their green profiles and practices. In nurturing these corporate relationships, he’s noted a growing phenomenon. “We continue to see the emergence of ‘chief green officers’ or ‘sustainability officers’ in companies, beyond what has traditionally been an energy manager,” Stoering says. “So there are those emerging professional tracks that make those jobs not only broader but more enriching, particularly for companies with energy demands that go beyond compliance and are actually interested in promoting environmental stewardship.”
“The environment is not an imposition. If you’re making windows out of wood, it’s in your interest that there’s a sustainable supply of wood.” Frank Montabon the university, meeting regularly with top officials to review sustainable policies and practices at Iowa State. “Yes, there are a number of institutions where ‘being green’ is a buzzword,” Rankin acknowledges. “But I have a voice. I wasn’t hired just to sit in an office, write press releases, and ride in the VEISHEA parade.
MORE THAN A BUZZWORD As at Xcel, sustainable business practices must be championed at the top of an organization. In this regard, there is perhaps no better example of the emerging “CGO” than Merry Rankin herself, who oversees Iowa State’s Live Green! program, the signature initiative of Iowa State President Gregory Geoffroy. As the university’s “CGO,” Rankin manages a $3 million renewable loan fund that helps campus facilities implement conservation programs and other sustainable practices, with cost savings directed toward repaying the loans. Equally important, Rankin sits in the highest councils of
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“There is a new sense of urgency with regard to sustainability at institutions,” she continues, “including the way they do business and interact with their communities. I’ve been hearing of many more plans to hire directors of sustainability, both in education and business.”
STUDY AT THE EPICENTER OF GREEN But will that sense of urgency translate into new programs of study at Iowa State’s College of Business?
Or will tomorrow’s CGOs be mostly academic “entrepreneurs” such as Rankin and McCann, self-starters who see a need—and an opportunity—and customize a program to their vision? Montabon notes that, like ethics, “sustainability” is not a concept to be developed, polished, and then relegated to an academic sideline, but instead must inform every aspect of a business curriculum. In that regard, the college is constantly adjusting its curriculum to accommodate emerging concerns faculty believe they’ll be dealing with years down the line. Yet, Montabon says, the kinds of programs crafted individually by McCann and Rankin will, in time, achieve mainstream status. “We can absolutely envision new majors, new minors, new degree programs in business and the environment,” he says. ”Other schools have already implemented them.” Still, notes McCann, “other schools” don’t have all of the advantages of Iowa State in crossdisciplinary studies, resources that can make “green” degrees from Iowa State stand out among the crowd over the next 25 years. “There are great opportunities for students to do this,” McCann remarks, “especially here, with all the things going on in renewable energy. “Iowa State is the epicenter for all that,” he smiles. “It’s why I came here.” ■
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T H E C O L L E G E A T 2 5 : P O L I C Y A N D R E G U L AT I O N
A Guide for the Ride Through the
Regulatory Jungle
As the impulse to regulate business gathers momentum at all levels of government, the college looks for a clearing in the distance. Jim Staiert should be just the kind of guy who could get along with people like associate professor of accounting Jim Kurtenbach and Jim Heckmann, director of Iowa’s Small Business Development Centers. An Iowa State alum in finance and agricultural business, as well as a master’s in economics, Staiert has, on paper, the kind of credentials that would appeal to a couple of business types. But it’s not that simple, and, “on paper,” there’s arguably at least as much basis for conflict as for common cause. You see, Jim Staiert is a government bureaucrat.
T I M E F O R A TRUCE The perennial battle between government regulators and champions of free markets is hardly front-page news. But with the rapid globalization of commerce, breathtaking advances in technology, and urgent concerns for the natural environment, the regulatory “heat” of government has become only more intense.
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Maybe it’s time to call a truce, if not a declaration of peace. Heckmann offers an olive branch: “There are some great regulations out there,” he concedes. “A lot of the health and safety stuff is great. The FDA is a regulatory agency that truly benefits Americans, and USDA has a lot of fine regulations. “But,” he counters, “there’s a whole host of regulations out there that are just a pain to deal with, and that aren’t really necessary.” Truce over. Before we jump back into the trenches, though, a couple of points.
It’s a question of which regulations are needed, and how they are implemented, enforced, and justified over constantly changing social, economic and environmental conditions. VOLUME 25 NUMBER 2
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As a program analyst with the U.S. Department of Agriculture, Staiert, in Heckmann’s view, is at the least a noncombatant. In fact, Staiert started out with USDA’s Agricultural Cooperative Service, where he helped farmers (a.k.a. small businessmen and women) establish purchasing and marketing co-ops. In that regard, he could be viewed as a natural ally of Heckmann, a man whose pre-SBDC career was dedicated to helping businesses navigate the regulatory minefields. Next, no one short of a bomb-throwing anarchist argues that regulation should be dispensed with altogether. It’s simply a question of which regulations are needed, and how they are implemented, enforced, and justified over constantly changing social, economic and environmental conditions. And, finally, what does this mean for business education at Iowa State for the next 25 years and beyond?
M O N E Y E Q U ALS RULES If Jim Kurtenbach looks to be conflicted in his alternating roles as an educator, a former Iowa state representative and policymaker, and a vigorous advocate for deregulation—look again. “Onerous,” he calls a proposal to mandate health coverage for the employees of businesses with payrolls as small as $250,000 annually. And he doesn’t stop there. “Small business has always been Iowa’s strong suit,” Kurtenbach observes. “A lot of small companies starting up prefer to use stock options, and the tax treatment that triggers is huge, even if they have a future and not a current value. So your reporting and compliance and the associated risk are so complex, it increases your cost of business.” “Anytime you layer on another regulation,” Heckmann agrees, “you layer on another complexity to doing business. That distracts the business owner’s attention from serving customers, improving product, improving margins, and creating jobs.” Heckmann knows whereof he speaks: in 1984, after two years with a St. Louis law firm, he went into business for himself, first as a litigator, and then as an adviser on regulatory and compliance issues to businesses small and
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“The biggest challenge right now is trying to keep those regulatory policies consistent, and to make sure we’re not doing anything out of line with what the other groups are doing.” Jim Staiert large. Yet though he made his living from the regulatory zeal of state and national policymakers, he does not hesitate to express his frustration with the regulatory regime—especially as an advocate for small businesses in his role as director of the Iowa SBDC. “Whenever there’s money involved, somebody’s going to write rules,” Heckmann acknowledges. “And any time you see a failure somewhere in the markets or the regulatory scheme, new regulations get imposed. “But the problem with regulations,” he continues, “is that they get imposed to solve a problem, and often they’re not finely tuned to solve the problem. Then the doctrine of unintended consequences kicks in, and all of a sudden businesses of all kinds have to react to that.”
SUNSET OVER THE JUNGLE Despite Heckmann’s concerns, Staiert counters, the trend over the past quarter century has been toward deregulation across administrations, whether Republican or Democratic. However, given the young century’s various financial debacles, combined with the social, economic, and environmental forces discussed elsewhere in this issue, that trend is inarguably ending. Still, Staiert would agree, care must be taken, not only in justifying the imposition of new regulations on business, but in coordinating their implementation with other agencies and policymakers that may have an interest in the matters being regulated. “Right now we have kind of a disjointed policy with respect to renewable energy,” Staiert offers as an example
17
“Looking at policy—the cost of policy, the effects of policy good and bad—should be part of a business education. You’d better understand it or you’re going to get run over by it.” Jim Heckmann of particular interest to Iowans. “There are certain things that are being implemented and regulated by USDA, then there are others the Department of Energy is involved in. “From our standpoint,” he continues, “the biggest challenge right now is trying to keep those regulatory policies consistent, and to make sure we’re not doing anything out of line with what the other groups are doing.” Heckmann lauds that level of self-examination. Beyond that, though, he feels passionately that, once implemented, government regulations should be regularly reviewed under the scrutiny of sunset provisions, in which those formulating and implementing policy must regularly revisit their handiwork and justify its continued existence to those most affected. “Every set of regulations should have a sunset period on it,” Heckmann insists. ”Their supporters should have to come back and justify them. And if you can’t get agreement, they end.”
T O WA R D A SOPHISTICATED STUDENT That may be a blue-sky scenario: once implemented, policies and regulations seldom are reviewed, let alone rescinded. More likely, as Heckmann points out, they’re simply ignored by increasing numbers of the regulated as their relevance and utility wanes. Ignorance, however, is not a strategy businesses can afford to adopt. And, as the regulatory juggernaut accelerates under today’s demands, the college in its next 25 years must consider its responsibility to the students it will send out into the regulatory jungle. “The study of policy and regulation should be an integral part of a business curriculum,” Heckmann asserts, “because that’s the universe in which business operates. Looking at policy—the cost of policy, the effects of policy good and bad—should be part of a business education. You’d better understand it or you’re going to get run over by it.”
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Moreover, adds Kurtenbach, while it may have been peripheral to a business education in the past, a focus on compliance, policy, and regulation will increasingly be integral to the curriculum as the college moves into its next 25 years. The layering of policies between various levels of government, he says, together with the globalization of virtually every business activity above the level of a lemonade stand, will place added burdens on both students and their instructors. “We have courses on forensic accounting, entrepreneurship, and international management and relationships that we didn’t have 20 years ago,” Kurtenbach notes. “The regulatory environment as the United States responds to other countries, and Iowa responds to the United States and neighboring states, is going to drive a much more sophisticated and educated student. So students may well go from a fourth to a fifth year just so we can focus on international reporting.” Key to an enhanced focus on these topics, Kurtenbach says, will be the need to represent the broad spectrum of perspectives—from the passionate defenders of rigorous regulation as critical for the public good to the most unfettered libertarians and free-marketeers—in a balanced and respectful manner. That’s a challenge hardly lost on Kurtenbach, whose own proclivities in this regard are well known, but who nonetheless manages the balancing act in his own classroom. “As faculty,” he says, “we need to determine how we can bring public policy, how we can bring the regulatory elements in a neutral fashion, where we’re simply exposing students to the discussion but not driving an agenda.” ■
“We need to bring public policy and the regulatory elements in a neutral fashion, where we’re simply exposing students to the discussion but not driving an agenda.” Jim Kurtenbach
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25
th
Anniversary
RETROSPECTIVE
Although this twenty-fifth anniversary issue of Prospectus is about looking forward, it’s only appropriate that we pause to look back on the milestones that we passed along the way. The College of Business is forever grateful for the many people responsible for this impressive list of accomplishments. Department moves into Carver Hall. 1955
1955 Department of Industrial Administration is established. William Schrampfer is named department head.
1920s
1930s
1950s
1920s
1930s
1953
Business courses offered in the
Name changed from
The accounting
Department of Economics.
Business Engineering to
program qualifies
Engineering Economics,
as a major for the
and eventually to
CPA examination.
1960s
1970s
1968
1975
William Thompson
Lynn Loudenback
named department
named department
chair.
chair.
Industrial Economics. 1955 Department of Industrial Administration is established. William Schrampfer is named department head. 1959 Department becomes a part of the new College of Science and Humanities.
1978 Charles Handy named head of business programs.
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IOWA STATE UNIV ISU Pappajohn Center for Entrepreneurship established with a gift from John and Mary Pappajohn.
1996
1980 School of Business Administration formed.
1988 Arthur Andersen Computer Laboratory opened.
1980s
1990s 1987 First transportation
Board of Regents approves creation of a part-time MBA program in Des Moines.
conference held.
1999
Keynote speaker is Elizabeth Dole, U.S. Secretary of Transportation. 1994 1984 College of Business Administration officially formed on July 1.
1988
Dean David Shrock
Union Pacific/Charles
leaves Iowa State;
B. Handy Professorship
Benjamin Allen named
established.
interim dean. The 1990
1993
interim tag is removed
1989
College’s first develop-
R. Dale Voorhees
the following year.
approved by Board
Principal Computer
ment director named.
Lecture Series inaugu-
of the College of
of Regents; first
Laboratory opened.
Business Administration.
students admitted.
1983
1985
Board of Regents
MBA Program
approves the formation
rated; later expands to
1998
1991
become the Voorhees
College of Business
College receives initial
Supply Chain
initiative launched
Conference.
with $10 million gift Ann Gerdin.
1984
Student-run Business
American Assembly of
Pioneer Hi-Bred
Day inaugurated;
Collegiate Schools of
International
later expands to
Business (AACSB)
Murray G. Bacon
Agribusiness
Business Week.
accreditation.
Center for Ethics in
1986
Name shortened to
from Russell and
Business dedicated.
Chair established. Career Development
College assumes
Dean Charles B. Handy
and Placement Office
oversight of the
retires; David Shrock
established.
Iowa Small Business
named dean.
College of Business.
Development Centers.
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VERSITY 2001 Groundbreaking for the Gerdin Business Building takes place.
2000s
COLLEGE OF BUSINESS
2000
2003
2009
College of Business
New interdisciplinary
PhD program welcomes
ranks third in enroll-
program for a master
its inaugural class of
ment among Iowa
of science and PhD
eight students.
State’s colleges.
in human computer
Re-accreditation
interaction announced.
Differential tuition for
Entrepreneurial
ness majors charged for
junior and senior busi-
awarded by AACSB. Learning Community
Board of Regents
announced.
approves construction
2001
of the Gerdin
Benjamin Allen chosen
Business Building
as ISU’s interim external
and the master’s of
affairs vice president.
accounting program.
Labh Hira is named interim dean; the interim tag is removed the following year.
2004 Gerdin Business Building dedicated.
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funds additional faculty positions to reduce core course sizes.
2004 New engineering
2007
2008
BS/MBA concurrent
Campaign Iowa
David and Ellen
Russell and Ann
degree offered jointly
State: With Pride and
Raisbeck pledge
Gerdin announce
with the College
Purpose launched, with
$3 million to create
$1.1 million gift to
a $42 million goal for
ISU’s second endowed
support the college’s
the College of Business
deanship in the College
new PhD program
of Business.
and other initiatives. ■
of Engineering. 2006
IOWA STATE UNIVERSITY
the first time; revenue
Communications
Gerdin Citizenship
Center established.
Program launched.
21
PhD Program Welcomes Inaugural Class
The inaugural class in the College of Business’ PhD in Business and Technology program is diverse in its work experience, educational background, and nationality.
David Correll
from Shanghai Maritime
agriculture and biorenewable
University and another in
resources and technologies.
logistics from Nanyang
Correll will specialize in
Technological University
supply chain management
in Singapore in 2007.
David Correll earned his
and has an interest in using
After graduating from
bachelor of science in
operations research method-
Nanyang, Dai was offered
international relations
ologies to envision integrated
a job with Nanyang’s
from George Washington
farm and industry plans for
Maritime Research Centre
University in 2001, where
our state that preserve its
(MRC). She joined a research
he focused on international
natural integrity, profitability
team that was studying the
economics and the countries
and communities.
Development of an Optimum
of the former Soviet Union.
Liner Service Network
After college, Correll worked
Planning System, jointly
for two years as an oil and
sponsored by the Maritime
gas economist at the U.S. Department of Energy in Washington, D.C., and one
Jing Dai
and Port Authority of Singapore (MPA), Pacific International Lines (PIL) and
year as an analyst at a
Jing Dai earned her bachelor
the MRC. Her research inter-
Russia-focused oil and
of science in economics
ests include a wide range of
gas consultancy based
from Shanghai Maritime
quantitative and conceptual
in New York City.
University, China. She also
transportation management
completed two master of
issues. Jing’s main focus is
science degrees, one in
on management of and
of science in economics
2005 in transportation
modeling for supply chains,
under Dr. Mike Duffy, with
planning and management
shipping, ports and other
In 2005, David arrived at Iowa State to earn his master
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co-majors in sustainable
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It is a milestone, years in the making. This fall the College of Business finally welcomed its inaugural class of eight students into its new PhD in Business and Technology program. The PhD program is a landmark event that makes the College of Business a truly comprehensive business school. The spring 2008 Prospectus described in great detail the process involved to gain approval for the program, the meaning of such a program to a business college, and how the administration of a PhD program works. Since then,
College of Business faculty and staff have been recruiting relentlessly in search of some of tomorrow’s finest researchers and educators to comprise the inaugural class. Although the new PhD program emphasizes technology, the initial groundwork of the student recruitment process was decidedly low-tech. PhD Program Director Sridhar Ramaswami and assistant Deborah Martinez made contacts with universities throughout the globe—often through phone calls at odd hours to accommodate time differences—all with the goal of raising awareness of the program and making contact with prospective PhD candidates. They also connected with many other academic departments in other colleges at Iowa State, meeting with deans, faculty, and staff to raise awareness of the program on campus.
related areas. Jing already
consulting firm in Seoul, South
management information
has a number of publications
Korea. As an analyst and con-
systems department on
in logistics-related journals.
sultant, he has worked on a
Jing will specialize in supply
number of topics, including
chain management.
market and industry forecast-
Youngsu Lee
Andy Luse
research and grants. He has been involved with radio frequency identification
ing, market analysis and
Andy Luse earned his PhD in
technology, user interface
strategy, competitive
human computer interaction
design, as well as novel
benchmarking, market
and computer engineering
teaching methods.
entry models, and mergers
with a minor in computer
and acquisitions. He also
science at Iowa State
has experience with the
University in spring of
Youngsu Lee received
traditional form of customer
2009. He is also pursuing
his bachelor of business
and marketing research.
his MBA with a concentration
administration from Yonsei
Lee will specialize in
in information systems.
Kelly Moore
University in Korea in 1999.
management of information
Luse’s research interests
Kelly Moore is a native of
He continued graduate
technology and has research
are in computer and network
Ankeny, Iowa, and attended
study at Yonsei, focusing
interests in roles of IT
systems security and design,
the University of Iowa, earning
on information systems and
in management and
visualization tools for com-
dual undergraduate degrees,
e-commerce. After finishing
commonly IT-enabled
puter and network security
a bachelor of business
his master of business admin-
systems such as e-commerce
system and interface design
administration in finance and
istration in 2001, he worked for
and telecom systems.
and usability.
bachelor of arts in journalism
one year as a researcher for a
Luse has worked with
and mass communication.
global electronics company,
faculty members Brian
She worked for the Iowa
and then seven years as a
Mennecke, Kevin Scheibe,
Sports Marketing Department
telecom industry analyst for
and Anthony Townsend in
during her undergraduate
an economic research and
the College of Business’
tenure. Upon graduation,
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23
The College of Business made contacts with universities throughout the globe to raise awareness of the program and make contact with prospective PhD candidates. Ramaswami and John Wong, associate professor of marketing, also made international visits to universities in Asia, making presentations about the program to faculty and students. The program’s Web site (www.business.iastate.edu/phd) gives prospective students thorough details about the curriculum,
application process, and financial aid. Once students apply, their applications and GMAT or GRE scores are reviewed, and qualified candidates are invited to campus or, if the distance prohibits a visit, Ramaswami arranges a phone interview. He aims to find students who are the right fit for the program and who would match up well with a current faculty member, who would serve as a mentor. Once the College of Business PhD committee approves a student’s application, and the student accepts the offer, the college works with the student to make any necessary arrangements, which may include housing, travel, and working through visa issues. From there, the journey to a PhD in Business and Technology begins. ■
she moved to Houston,
and managing financial data
manufacturing and service
journalism and mass commu-
Texas, where she worked
for its accounts and prospec-
environments. She would like
nications from Iowa State
as an intern for the Houston
tive clients. She was also
to do research in optimization
University. While earning her
Astros Baseball Club.
responsible for managing and
and inventory management,
master’s, she also completed
executing ITA’s assessment
scheduling and controlling
a minor in statistics in 2008.
process, including promo-
productions and process
Su will specialize in customer
Financial Group in 2002. She
tional and training materials.
operations. She has worked
management and is interested
worked there for more than
She will specialize in
for Monsanto in logistics
in consumer research. She
three years in marketing and
customer management.
and supply chain positions.
has completed a study on the
Padakala enjoys participating
impact of mass media cover-
this time, she earned a mas-
in the activities of various
age on consumer sentiment
ter in business administration
student organizations with an
using time series analysis.
Moore began her professional career with Principal
group underwriting. During
with a sales and marketing emphasis from Drake University in Des Moines. For the past year, Moore
Bhavana Padakala
emphasis on event planning.
Su is also interested in
She will be specializing in
the usage of new communi-
supply chain management.
cation technologies by firms
Bhavana Padakala is from
for managing their custom-
worked as a measurement
Hyderabad, India, where she
ers. As a former business
analyst for the performance
completed her bachelor’s in
journalist from Shanghai, she
marketing company, ITA
industrial engineering. She
Group in West Des Moines.
went on to earn a master in
ITA Group operates sales
industrial engineering from
incentive and employee
Iowa State University.
Lishan Su earned her
recognition programs, as well
Padakala is interested in
bachelor of science degree in
as group travel events and
research issues related to the
mechanical engineering from
meetings. Her duties included
management of operations
Fuzhou University in China
defining performance metrics
and supply chain in both
and her master of science in
24
Lishan Su
VOLUME 25 NUMBER 2
has a passion for the media industry and is interested in researching issues related to media management.
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Hearts Minds
&
An Appreciation of Dale Voorhees
He piloted 55 missions in World War II without losing a man to injury or death, so he never won the Purple Heart. He mentored hundreds of students, published dozens of papers, and became a full professor at a leading university— but he never earned a PhD.
In their home on a tree-lined street near the Iowa State Center, Mary Voorhees pages through her late husband’s memoir, written not for publication but, in his words, “to set down some memories that might be of interest to our family and reflect information that otherwise could die with me.” The memoir reflects the man: straightforward and utterly lacking affectation, the life of an ordinary man who, like so many of his generation, did extraordinary things, despite his desire to live simply as an Iowa farmer. Mary Voorhees turns from the volume
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to share something her husband would probably have kept to himself. “No one ever got the Purple Heart on a mission with him,” she reminds. “So every time a colonel or general came to do their mandatory run, they wanted to fly with Voorhees.” A SEARING MEMORY
Roy Dale Voorhees was born near his parents’ southeastern Iowa farm on March 21, 1921. His father raised corn and oats, as well as hogs, cattle and chickens, which afforded the family a modest but secure living.
All that ended 11 years later when, in the depths of the Great Depression, the family lost the farm. Loading their worldly goods onto a horse-drawn wagon for the eight-mile journey to a rented farmstead, the experience was burned into the young boy’s memory. “I looked back up that road and swore that I’d come back and buy that farm if it was the last thing I ever did,” Voorhees wrote. “I felt humiliated, and I don’t think I have ever gotten over that feeling and have never forgotten that day.” Voorhees’ parents struggled through the Depression, moving several times from one place to another. But by 1939, they got back on their feet enough to send their son to the University of Iowa. On a visit home, though, he fell in love with Mary Peck, and enrolled in the local community college to be near his future wife. Yet the war would enforce a greater separation. On December 8, 1941— one day after Pearl Harbor—Voorhees reported for his preinduction physical, and soon began basic training, followed by flight school. Married in September
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“Every time a colonel or general came to do their mandatory run, they wanted to fly with Voorhees.” MARY VOORHEES
1942, the young couple would enjoy life together as he trained pilots until May 1943, when Voorhees left for England and the war. A SELF-MADE SCHOLAR
After the war, Voorhees finished his bachelor’s degree at Georgetown University, then earned an MBA from George Washington University while assigned to the Department of Defense in the late 1960s. The military, however, would provide Dale Voorhees’ “PhD” program. “Dale had no PhD,” notes Raisbeck Endowed Dean Labh Hira. “But one thing our military knows is logistics, and he brought that experience to the college.” Indeed, it was just that expertise that in 1971 inspired Dr. William Thompson, chair of the industrial administration department, to turn to the Pentagon for someone to take Iowa State’s fledgling program to a higher level. That a military candidate was
unlikely to have a PhD seemed, at the time, a reasonable trade-off. “A master’s degree allowed them to teach back then, but they couldn’t advance very far,” Thompson recalls, adding: “Of course, he was an exception to that.” Thompson’s remark is an exercise in understatement: this unassuming, academically “uncredentialed” farmerturned-war hero would become a leader in transportation and logistics, transforming an academic backwater into one of the nation’s premier programs. By his 1991 retirement, Voorhees had accomplished in 20 years more than most academics could achieve in 40. “In my military days, an enlisted person who rose through the ranks to officer was called a ‘mustang’,” recalls Charles Handy, the college’s founding dean. “Dale achieved much of his academic training through ‘the college of hard knocks’ as opposed to graduate study. I thought of him as an academic ‘mustang’.” THE PLEASURE O F H I S C O M PA N Y
Yet despite his professional accomplishments, it is for his personal generosity as a teacher and colleague that Voorhees will best be remembered. “He was beloved by many,” Associate Dean Kay Palan states simply. “A true gentleman, a true scholar, and a true friend,” adds Associate Dean Mike Crum. “He’s already missed, and
“In my military days, an enlisted person who rose through the ranks to officer was called a ‘mustang.’ I thought of him as an academic ‘mustang’.” C H A R L E S H A N D Y 26
will be missed only more in the future.” Former dean Ben Allen, now president of the University of Northern Iowa, acknowledges Voorhees’ professional accomplishments, recognized today by the annual Voorhees Supply Chain Conference. But the simpler pleasures of having Voorhees as a friend and colleague, he says, were equally important. “We often traveled together to St. Paul to meet with people in the barge industry,” Allen remembers. “Dale always arranged for us to take a break in our travels and stop by the Mississippi, enjoy the view of the barges, discuss our goals for the meetings, and enjoy some cheese, bread freshly baked by Mary, and a glass of good wine. “We enjoyed each other’s company tremendously,” he adds. AN ENDURING LEGACY
Dale Voorhees departed on his final mission May 24, 2009. A man who simply wanted to farm, he was true to his word as a boy, and in later years bought the farm his family lost in the Depression. And though he never worked the land himself, the work he put his hand to—from fighting for the freedom of millions to educating a new generation—will endure as the land endures. He was a scholar who never earned the PhD, yet whose learning made a lasting mark on the minds of his students; an airman who never won the Purple Heart, but whose life touched the hearts of his family, friends, and colleagues. Not just colonels and generals, Mary would remind you, but these as well— they all “wanted to fly with Voorhees.” They all did. ■
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1970s
and leadership/change management. Orion Bashkiroff (‘03 Management) has recently been hired by URS Corporation as a renewable energy project manager.
Theosophical Society in America as
Noel Friedl (‘05 Finance) is currently
Denise Essman (‘73 Industrial
assistant operations manager for its
living in Fremont, California, working
Administration) is the president
publishing house, Quest Books, and
as a banking analyst for Wells Fargo
and CEO of Essman/Associates
then as library assistant and librarian
in fraud prevention.
and Essman/Research. For the ninth
for the Henry S. Olcott Memorial
consecutive year, Essman/Research
Library, also at the Theosophical
Nick Dell (‘06 Finance) joined MetLife
has been recognized as a top-rated
Society. Prior to his master’s, he also
in West Des Moines, Iowa, and is
research focus facility by Impulse
completed a library technical assistant
currently an accountant and has
Research Corporation, an interna-
certificate from College of DuPage in
obtained several industry designa-
tional research firm.
Glen Ellyn, Illinois. He was named
tions. In addition, he continues his
director of Curry Public Library in Gold
part-time seasonal employment with
Beach, Oregon, in November 2008.
Seven Oaks in Boone, Iowa, as a
Bruce Hamilton (‘73 Industrial Administration) is celebrating twenty
snowboard instructor and working
successful years of his firm, Hamilton
Kevin Grieve (’86 Finance) is the CEO
with management for special events.
CPA, LLC, serving clients in Janesville,
of venture-funded company Mocapay,
Dell also started his own business
Wisconsin. Hamilton is a past director
a mobile commerce platform that pro-
organizing ski and snowboard events
of the Iowa State University Alumni
vides mobile marketing and payments
such as the Des Moines Rail Jam.
Association.
for issuers of merchant-branded gift and loyalty cards.
Jeanne (Payton) Eibes (’76 Industrial
Michael Goellner (‘06 Management Information Systems) works for UPS
11990s 990s
Administration) is director of billing operations for CSG Systems, Inc., in
as a contractor through a company called TekSystems in Louisville,
Omaha, Nebraska. Eibes is also presi-
Scott Brugh (‘99 Marketing) operates
Kentucky. After graduation, he worked
dent of the Carter Lake Preservation
his own business, Arizona Elevator
for Hy-Vee’s corporate office as a
Society, a nonprofit organization she
Solutions in Scottsdale, Arizona. He
programmer analyst. In October 2008
helped establish for the purpose of
had spent eight years working for
he was married to Jeniece (Bergman)
preserving and restoring the Oxbow
KONE, Inc., an elevator company based
Goellner (’08 Dairy Science).
Lake, located just north of downtown
in the Quad Cities.
Omaha. The all-volunteer organization
Ashlee Kvidera Ellis (‘07 Marketing) is 22000s 000s
was recognized this April by Earth Day Omaha as a “Friend of the Environment”
working at the University of Minnesota Carlson School of Business as the
for its five years of effort in attracting
Stephanie DeVore Cruzen (‘02 LOMIS)
assistant director of annual giving. In
attention and government funding to
lives in West Des Moines, Iowa, and
May 2009, she married Matthew Ellis
improve the watershed and make the
works for Pioneer. Prior to that, she
(‘06 Electrical Engineering).
lake a better place to play.
spent six years at TMC Transportation
1980s 1980s
after graduation. She married Chad
Abdulaziz Alsaffar (‘08 Management
Cruzen (’02 Transportation and
Information Systems) is a business
Logistics) in 2008.
analyst at the National Bank of
Corey Bard (’86 Management) gradu-
Kuwait. He is a member of the team
ated from Dominican University in River
Katherine Hallenbeck (‘02 Finance and
that manages the largest consumer
Forest, Illinois, in May 2008 with a mas-
Management Information Systems)
credit portfolio in Kuwait, representing
ter in library and information science.
completed her MBA from DePaul
over 50 percent of its market share. ■
He had worked since 2000 for the
University in Chicago, Illinois, in fall 2008.
IOWA STATE UNIVERSITY
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A LUM NI NEWS
CLASS NOTES
Her coursework was focused on finance
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A LUM NI NEWS
College Bestows Annual Awards The College of Business will honor four Iowa State alumni at this fall’s Homecoming Awards on October 16. Two will receive the Citation of Achievement Award, which honors distinguished alumni who have demonstrated outstanding achievement in life beyond the campus. One will receive the John D. DeVries Service Award, recognizing an individual who has demonstrated outstanding service to the college. This year, the College of Business established the Russ and Ann Gerdin Award, given to valuable corporate partners or successful individuals who are not College of Business graduates. The Gerdins, neither of which attended Iowa State, made a $10 million lead gift in 1998 that helped build the Gerdin Business Building. C I TAT I O N O F A C H I E V E M E N T H O N O R E E S
Donna Johnson Fuller, CPA (‘68 Industrial Administration) is the retired chief financial officer at Pacific Gas & Electric Co. in San Francisco, California. She was the only female accounting student in her class at Iowa State, and in 1980 became the first woman ever to be promoted to manager at Pacific. Fuller retired in 1993 and is also a longtime exhibitor, breeder, and judge of pedigreed cats. She has taken home numerous awards and served as a judge of cat shows around the world.
Andrew Hensen (’96 Marketing) and his wife Kari (’96 Sociology, ’98 MS Higher Ed, ’05 PhD Ed Leadership and Pol Studs) are recipients of the 2009 Outstanding Young Alumni Award, given by the ISU Alumni Association to recognize alumni age 40 and under who have excelled in their professions and provided service to their communities. Hensen is an associate vice president and financial consultant with RBC Wealth Management in Clive, Iowa.
28
Craig E. Hansen (‘80 Industrial Administration) is a senior vice president and treasurer with Holmes Murphy & Associates, an independent risk management and insurance brokerage firm in West Des Moines, Iowa, insuring major construction clients. Hansen works with faculty in the College of Engineering and visits campus annually to speak to freshmen engineering students. He and his wife, Judith Ralston-Hansen (’80 Sociology), are also philanthropic supporters, including a recent estate gift to endow two scholarships. R U S S A N D A N N G E R D I N AWA R D H O N O R E E
William A. Goodwin (‘59 Industrial Engineering) is president of Cerro Gordo Land Co. in Des Moines, Iowa. He is a longtime member of the Dean’s Advisory Council and with his wife, Elizabeth, provided philanthropic support to create two faculty fellowships. Both are impressive commitments for someone who graduated from a different college at Iowa State. Goodwin also earned an MBA from Stanford University in 1965 and spent many years as a U.S. Naval officer. J O H N D . D E V R I E S S E R V I C E AWA R D H O N O R E E
James Frein (’67 Industrial Administration) is the retired vice chairman of the board of Hutchinson, Shockey, Erley, and Co., a law firm in Vail, Colorado. He is a member of the Dean’s Advisory Council, and he and his wife Ann (’66 Mathematics) serve on the College of Business Campaign Iowa State Development Committee. They are also the benefactors of the Harry L. Shadle Endowed Scholarship and the Harry L. Shadle Faculty Development Fund, named for a faculty member who impacted Frein. He also earned an MBA from Loyola University Chicago in 1971. ■
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FA C ULTY A ND STA FF NEWS
New Faculty and Staff James Brown,
Samantha Cross,
mechanical engineering and an MBA.
assistant professor of
assistant professor of
Kennedy interned in supply chain
finance. Brown earned
management. Cross
management at John Deere Power
his PhD in economics
earned her PhD in
Systems in summer 2009.
from Washington
management from the
University in St. Louis, Missouri, and
University of California. Her research
Jon Perkins, assistant
was formerly an assistant professor
interests include the impact of diver-
professor of account-
at Montana State University in
sity on decision-making, consumption
ing. He previously
Bozeman, Montana.
and innovation, with a focus on cultur-
taught at Florida State
ally diverse households and immigrant consumer behavior.
David Cantor, assistant professor of supply
University and the University of Illinois UrbanaChampaign. Perkins earned his JD
chain management
Jessica Haskins,
from the University of Missouri in 1995
and information sys-
undergraduate aca-
and his PhD in accountancy from the
tems. He received his
demic adviser. She is
University of Illinois at Urbana-
PhD from the University of Maryland
a first-year master of
Champaign in 2003.
at College Park. Cantor’s research
science student in the
interests are focused on supply chain
educational leadership and policy stu-
Nate Pettitt, under-
management and information systems.
dents program in the College of Human
graduate academic
Sciences, focusing on student affairs.
adviser. He is a full-
Terry Childers, Dean’s
Haskins earned her bachelor of science
time MBA student at
Chair in Marketing and
from Florida State University.
professor of market-
Iowa State. He earned his bachelor’s degree with a double
ing. Childers was
Qing Hu, department
major in accounting and finance at
previously the Gatton
chair of logistics,
Colorado State University.
Endowed Chair in Electronic
operations, and man-
Marketing in the Gatton College
agement information
Katie Raymon, (’07 Art
systems and professor
and Design), graphic
of Business and Economics at the University of Kentucky. He was also
of management information systems.
designer. Katie was
the director of Gatton’s Von Allmen
Hu was previously the chair of the
previously employed
Center for E Commerce and director
department of information technology
with Yellowbook as its
of the Advertising and Interactive
and operations management and a
Marketing (AIM) Research Laboratory.
professor of information systems at
Prior to the University of Kentucky,
Florida Atlantic University in Boca
Valentina Salotti,
Childers was a professor of marketing
Raton, Florida. He earned his PhD in
assistant professor of
at the University of Minnesota.
computer information systems from
finance. Salotti earned
Childers has a PhD in marketing from
the University of Miami, Florida.
her PhD in finance
the University of Wisconsin-Madison.
e-learning specialist.
from the University of Brandon Kennedy,
Bologna, Italy. She started as a visiting
undergraduate aca-
scholar and lecturer in finance in the
demic adviser. He is
College of Business.
earning a concurrent degree with a BS in
IOWA STATE UNIVERSITY
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FA C ULTY A ND STA FF NEWS
Sarah Van Vark,
earned her bachelor’s and master’s
from the W.P. Carey
career coordinator.
degrees from Wuhan University.
School of Business
Van Vark was previ-
at Arizona State
ously employed with
Kevin Watson, assis-
ING as a staffing con-
tant professor of oper-
University. He is a member of the
sultant. She earned her BA in busi-
ations management.
Academy of Management and
ness management and human
He earned his PhD in
the Strategic Management Society.
resources from Central College in
operations manage-
Pella, Iowa, in 2002.
ment from the University of Georgia.
Sarah Wilson (‘04
Watson has published a number of
Family and Consumer
Qian Wang, assistant
articles in leading academic journals
Sciences Education,
professor of account-
and has worked on research projects
‘06 M.Ed) classification
ing. Wang received
sponsored by the U.S. Navy, NASA,
her PhD in accounting
and the Veterans Administration.
at University of Kansas
officer. Wilson was previously an academic professional adviser at South Central Community
in 2009, where she received the Best
Robert White, assistant professor of
Doctoral Dissertation Award. She
management. White earned his PhD
College in Mankato, Minnesota. ■
F A C U LT Y A N D S TA F F H O N O R S The Iowa Small Business Development
Louis Thompson Distinguished
The 2009 Annual College of Business
Centers were presented with the
Undergraduate Teacher Award at the
Faculty and Staff Awards Ceremony
District Director’s Award for Outstanding
2008-2009 University Awards.
was held in April. Honorees included:
Contributions to Disaster Recovery in Iowa by the Des Moines district of the
Mark Peterson has
Ann Coppernoll, director of under-
U.S. Small Business Administration at a
been elected to a two-
graduate programs. P&S Student
conference in May. The centers’ efforts,
year term on the board
Impact Award.
chronicled in the spring 2009 Prospectus,
of directors of MBA
helped hundreds of businesses through
Career Services
Stephen Kim, Dean’s Faculty
the recovery process from the 2008
Council, the global professional associ-
Fellowship in Marketing and associate
tornadoes and floods that struck Iowa.
ation for MBA career services and cor-
professor of marketing. Senior Faculty
porate recruitment professionals. The
Research Award.
Scott Elston was
organization also manages the employ-
selected to serve as
ment statistics reporting standards
Russ Laczniak, Heggen Faculty Fellow
the full-time coordinator
used by the major MBA program rank-
in Marketing and professor of marketing.
for a new introduction
ing organizations and media.
Senior Faculty Teaching Award.
to business course, which is the first course that pre-
Kevin Scheibe
Burt Porter, assistant professor of finance. Junior Faculty Teaching Award.
business students take in the College
received promotion
of Business. The revised course will
to associate professor
be launched in spring 2010. Elston will
with tenure in the
Tammy Stegman, career coordinator.
be responsible for the content and
department of logis-
P&S Superior Service Award.
teaching of the course.
tics, operations and management Amrit Tiwana, Union Pacific
information systems.
Professorship in Information Systems
Diane Janvrin received Howard Van Auken,
and associate professor of manage-
professor with tenure
Bob and Kay
ment information systems. Junior
in the department
Smith Fellow in
Faculty Research Award.
of accounting.
Entrepreneurship was
promotion to associate
named a University
30
Pat Wagaman, secretary, department
Kay Palan, associate
Professor of management. He was
of accounting. Merit Superior
dean for undergraduate
also awarded the Louis Thompson
Service Award.
programs and associ-
Distinguished Undergraduate
ate professor of market-
Teacher Award at the 2008-2009
ing, was awarded the
University Awards.
VOLUME 25 NUMBER 2
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Making a Gift Through Real Estate As I travel the country visiting with our donors, it goes without saying that the uncertain economy is a major concern for everyone. But through this uncertainty, there is one constant: their unwavering commitment and passion for Iowa State University. Donors contributed over $127 million to Iowa State in the 2008-2009 academic year, which represents the third best fundraising year in the university’s history. The College of Business raised more than $7 million in donor contributions. It truly is humbling to see the dedication of our donors, ensuring that the educational opportunities for our students are not sacrificed to a tough economy. In the last Prospectus, I provided information on charitable gift annuities, an increasingly popular way donors are supporting charities while receiving personal income over a lifetime. In the third of a four-part series, I am going to discuss how donors are supporting the College of Business through gifts of real estate. Through the Iowa State University Foundation, the College of Business can benefit when a donor wishes to make a gift of real estate: a primary home, vacation home, farm, a building which once housed a business, or other property. The ISU Foundation generally sells the real estate as quickly as possible so that our students and faculty can benefit immediately from this gift. Some donors have used real estate to fund a Charitable Remainder Unitrust at the ISU Foundation with a remainder beneficiary designation to support the College of Business. For information on making a gift of real estate, I recommend a brochure titled, “Gifts of Real Estate: Unlocking the Financial Benefits.” To IOWA STATE UNIVERSITY
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COLLEGE OF BUSINESS
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PROSPECTUS
receive your complimentary copy from the ISU Foundation, please call 800 621-8515 or simply return the reply card on the inside back cover of this magazine. John (’56 Industrial administration) and Ruth (’56 Family and Consumer Sciences) Sherman of Onalaska, Wisconsin, recently made a provision in their estate plans to support the university with a retained real estate gift. As part of the gift, the Shermans will maintain ownership of their winter home in Arizona, and upon their passing it will then be sold by the ISU Foundation to support student scholarships in the College of Business. The Shermans are very proud of their ISU experiences and look forward to one day supporting business students who may have career interests in manufacturing management and are succeeding academically at Iowa State. “Iowa State University means so much to Ruth and I, and this gift is the least that we can do to say thank you,” John said. “We hope that this gift will allow future business students to receive an outstanding business education at Iowa State.” A real estate gift is a wonderful way to support the college during Campaign Iowa State. I hope that you consider this type of asset or other gifting opportunities as you fulfill your philanthropic dreams. Thank you to the Shermans and the hundreds of other donors who have supported the campaign to date. ■
John and Ruth Sherman recently made a provision in their estate plans for a retained real estate gift.
Jeremy Galvin is the senior director of development for the College of Business. He can be reached toll free at 866 419-6768 or by e-mail at jdgalvin@iastate.edu.
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Annual Support for the College of Business The College of Business would like to thank our treasured alumni, friends, and corporate and foundation partners for their cash contributions during the academic year beginning July 1, 2008, and ending June 30, 2009. Their contributions demonstrate a commitment to ensuring that our students and faculty have the resources to grow in an increasingly competitive marketplace. Many additional donors have supported the College of Business during 2008-2009 and requested confidentiality for their gifts. Those gifts are not listed here. If you prefer your name not be published, please contact the ISU Foundation Alumni Records department at 515 294-4656 or arecords@foundation.iastate.edu. For more information on how you or your company can support the College of Business, contact Jeremy Galvin, senior director of development, at 866 419-6768 or jdgalvin@iastate.edu. SUPPORT FROM ALUMNI AND FRIENDS $1,000,000 AND ABOVE David and Ellen Raisbeck
Stephen and Rebecca Smith William Varner
$250,000-$999,999 Russell and Ann Gerdin John and Mary Pappajohn
$10,000-$24,999 Miles and Catherine Barker Jerald and Cindy Dittmer Ralph and Jean Eucher Mark and Pamela Fisher William Kalm and Raedene Keeton-Kalm Timothy and Karen O’Donovan Smith Family Foundation Robert and Virginia Stafford Jill Wagner
$100,000-$249,999 Kelley and Joan Bergstrom C. Dean and Sandra Carlson Mark and Terri Walker $50,000-$99,999 Robert Cox William and Elizabeth Goodwin Richard and Carol Jurgens John and Connie Stafford $25,000-$49,999 David and Margaret Drury David and Deb Kingland Gerald and Margaret Pint
32
$5,000-$9,999 Gregory and Terri Churchill G. Steven and Phyllis Dapper B. Michael and Marcia Doran Joseph and Diana Elwell James and Ann Frein Dan and Joan Houston
John and Rebecca Hsu J. Scott Johnson and Julia Lawler-Johnson Madolyn Johnson Roger Murphy Suku and Mary Radia Susan and Al Ravenscroft Tom and Ann Rice Randal Richardson Steven and Rose Ann Schuler Troy Senter Karen Terpstra James Victor Donald and Patricia Wolfe $2,500-$4,999 James Auen Keith and Sheri Bandle Mark and Julie Blake Michael Bootsma Marvin and Vicki Bouillon Jamie Constantine Nancy Dittmer John and Wendy Duston Denise Essman William and Gloria Galloway Charles Handy Cara and Kurt Heiden Lorene Hoover James and Virginia Owens Christopher and Sondra Paskach Robert Probasco Frank and Juliane Ross Duane and Alpha Sandage $1000-$2,499 Gail and Janeen Boliver Winton and Gail Boyd Mary Butkus Frederick and Veronica Dark John and Ruth DeVries David and Kathleen Ecklund Jan Feller David and Cynthia Finch Beth Ford Peter and Luann Gilman George and Pauline Grovert David and Nancy Halfpap John and Joanna Hamilton
Dermot and Caroline Hayes Thomas and Ellen Howe Michael and Deanna Hummel Daniel and Sharon Krieger Gregory and Joyce Kveton Bruce and Julie Lambert Eugene and Janet Larson Craig and Beth Marrs Robert and Judith McLaughlin John Mertes Mark and Laurie Miller Thomas Mueller and Sheryl Sunderman Thomas and Janet Nugent Craig and Virginia Petermeier Brian and Patti Plath Joanne Reeves Brenda Richmann Larry Scott Javier Seymore Daniel and Jill Stevenson Mark Stoering and Deanna Elliott-Stoering Gary and Susan Streit John and Jennifer Streit Robert and Jane Sturgeon Scott Taylor Kenneth and Janet Thome Scott and Judith Wilgenbusch Kimberlee Wright Eric Zarnikow
$500-$999 William and Susan Adams Eric Almquist Lynn and Diane Anderson Scott and Kathryn Anderson Roger and Janet Arnold Belinda Bathie Keith and Amy Bruening Edwin and Diane Bruere Douglas and Joan Carlson Michael and Mary Ann Carlson Richard Carlson Frank and Kathy Comito John and Katie Culliton Ajay and Priya Desai Antonio and Lisa Dias
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Howard and Dee Dicke David and Jane Dirks Paul and Joyce Dostart Joel and Kristie Elmquist Don and Linabelle Finnegan Alexandra Goddard Winifred Guthrie Craig and Cheryl Hart Bob and Janet Jennings Brian and Lynette Jennings Calvin and Christine Johnson Sheryl Johnson Lawrence and Carole Kerr Hubert and Judith Lattan Jon and Sharyl Leinen Joel and Karen Longtin Randal Miller Michael and Beverly Moeller Thomas Mumford Gloria Ohlendorf Erik and Deborah Oiler Gary and Trudy Peterson Dave and Robyn Reuter David Safris Raymond and Mary Scheve Cameron and Cassie Schmitt Allen Schrad Neil Schraeder and Ruth Ward-Schraeder Michael Shepherd Mark and Rachel Siegel Bruce and Dana Snethen Kevin and Gabrielle Steffensmeier Brian and Marcy Streich Valerie Vasquez Jonathan and Gail Ware William and Melinda Watt Greg and Amy Whittemore $250-$499 David and Susan Bolte Keith and Larabeth Bader Gary Brandt Jeffrey and Judith Brower Thomas and Jill Catus John and Lori Chesser James and Jane Corkery Jeffrey and Elizabeth Cosner Christina Davis Robert Donahue IOWA STATE UNIVERSITY
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COLLEGE OF BUSINESS
Nancy Dop Michael Drake Jeffrey and Jane Eagan Geoffrey and Maureen Eastburn Kenneth and Laurie Eastman Louis and Lois Glover Marvin and Crystal Gordon Christine Grisham Loren and Linda Gustafson John and Nancy Halleland Patrick and Debra Hammes Jay and Kim Hardeman Gregory Harper Chris and Lori Harvey Jeffrey and Cynthia Heemstra G. Stephen Holaday Blake Howard Douglas Irwin Carol Jensen Gregory and Sharon Kaczmarek Constance Krelle Venkat Krishnan Russ and Kathleen Laczniak Chris and Teresa Lapinskie Jeffery and Sheila Lara Paul and M. Ann Larson Michael and Connie Maloney Marsha McCall Edward Meissner Barbara Miller Michael and Beth Mohar John and Mindy Nelson Michael Nickey Robert Nurre Eric and Pamela Olson Richard and Marilyn Patterson Paul Pence and Gaye Gipson Gregory and Haydee Penn Janet Quick John and Kathleen Ransom Bruce and Luann Rickert Shawn and Christine Rourick Naomi Sage James and Julie Schnoebelen Warren and Jennifer Schultz Carol Scott Ralph Scott James and Julie Snyder Larry Sporrer
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$100-$249 Steven Ahlers Clinton Allen Linda Armbruster James and Gwendolyn Arndorfer Rick and Sonia Arnold Keith and Denise Axtell George Ayres Jerald Ball Rick Barnes and Pamela Kopriva-Barnes James and Betty Barney Walter and Heidi Baskin Russell and Paula Beecher Wayne and Merita Bergstrom Joel and Kyla Berkland Matthew Berry Peggy Bieber Nicholas and Krisha Birdsall Lee and Deborah Boege Karen Boriskey Roger Bower Allan and F. Joy Boyken James Breitenkamp Branigha Brewer Barbara Brooks Larry and Marcia Brown Matthew and Melinda Brown Richard and Mildred Brown Alan Brown Richard Brus Jeffrey Bunkofske Brian and Susan Carstens Keith Carter Richard and Elizabeth Carter Barry and Daria Chesnut Charles Clayton Sherri Coffelt Evron Colhoun Ronald and Pam Collison Gregory and Jeanette Corum Darrin and Margaret Coy Bryan and Lisa Cusworth John and Barbara Dalhoff Charles and Betty Dalton Duane Dawson David and Amy De Jong Michael and Jill DeLio Chad and Andrea Diaz Joseph Dillavou
Joel Dodgen Stephen and Laura Doerfler Marsha Dorhout Joseph and Angela DuBois Michael Egan Allen and Julie Eilers Todd and Kelly Elliott Jim and Lisa Engstrom David Evans Craig and Deborah Fear Dustin and Elizabeth Ferreira Larry and Jackie Fie Christopher and Angela Fisher Dennis and Kristen Flieder Laura Fredrickson Thomas and Jenny Gallagher Jennifer Garrels Samara Garton Peter and Marian Gehrls Michael and Eden Gens Tracy Gerlach Elizabeth Gildea David and Nancy Gion Vincent and Lynn Gitch Ryan Glanzer Michael and Angela Glasgow Patrick and Jennifer Glover Gary and Sharon Godbersen Rhonda Golden Larry and Mary Grant Paul and Gina Greene William and Lisa Gregerson Jeffery and Tracy Hadden Richard Hansen Robert Hanser Scott and Karole Hanson Ryan Harnack David and Kay Harpole Jeff and Kristan Hartsook Christopher Hassebroek Jeff Hawkins Owen Hayes Richard and Karyl Hayes Tamara Hegel Thomas and Lisa Hemesath Jay and Kathleen Hempe Randall and Annette Hendrickson Terry and Gwen Henricksen Steven and Melinda Heutinck Stephanie Hilbert 33
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Annual Support for the College of Business/continued Quinn and Katy Hildman David and Barbara Hiserodt John Hofmeyer Ted and Eleanor Hollander Chris and Beth Homeister Allen Horn Douglas and Angela Houlahan Gayle Huck Richard and Denise Hucka Paul and Nancy Jacobsen Elwood and Susan Johnson Neil and Judith Johnson David and Meghan Jones Ryan and Pamela Jones James Jorgensen Kevin and Mary Jo Judd Korlin Kazimour Karen Kesl Susan Kesting Gary and Maurene Kleven
Barry and Nancy Knudsen James Koopman Robert Kossow Douglas and Cynthia Krage Michael and Suzette Kragenbrink Michael and Angela Krieger John and Christina Kronkaitis Mark Kuchel Curtis and Patricia Lack Scott and Theresa Lage Louis Lam and Daisy Tang William and Mary Lanphere Perry and Mary Laures Robert Lavender Jon and Shirley Leinen Valdean and Lois Lembke Ann Leonard Tracy Lewis Robert and Mildred Long Chris Lonowski
Kit-Weng Loo and Li Soo Brad Lorenger Tom and Nancy Macklin Walter Maehr F. Dennis and Jeannie Malatesta John Manternach Dale and Linda Martin James and Jean Martin John Martinez Richard and Mary Masching Latoya Massonburg Todd May Gary and Peggy McConnell Stephen McElhiney Douglas McKechnie Matt and Sherri McKenna Brent McVay John and Romona Meneough Jeffery and Lisa Merry Brian and Diane Messer
Theodore Meyers Michael and Barb Mickelson Amy Miller Robert Millett David and Angela Moench Diane Moore Jeffrey Moyers Marc and Angela Nabbefeldt Brian Nelson Christopher and Wendy Nelson Mark and Catherine Nelson Robert and Sheila Nelson Scott and Brenda Niblo Matthew Nimmer Thomas and Judith Noden Robert Ogg Joseph Ogrin Nancy O’Hallen David Olson Jim Olson
Kinglands Name LOMIS Suite On April 24, 2009, the College of Business dedicated the David and Deb Kingland Logistics, Operations, and Management DAVID KINGLAND
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Information Systems Suite in the Gerdin Business Building, in honor of the Kinglands’ naming gift. David is a 1980 industrial administration graduate and the president and chief executive officer of Kingland Systems, a technology services and outsourcing firm based in Clear Lake, Iowa, with facilities in Ames and Lake Mills. He founded the firm in 1992 to help national banks enter the retail brokerage business by providing compliance and trading systems to support geographically dispersed operations. His career began in the brokerage business with
Edward Jones and Company. Eventually he founded Kingland Capital, which pioneered the bank-based full service retail brokerage business model. “As an alumnus of our program, we are very proud of David’s success,” said Labh Hira, Raisbeck Endowed Dean. Kingland Systems has been a great friend to Iowa State and likewise, the Kinglands have been great friends of our college.” Kingland is a longtime supporter of Iowa State University and is heavily involved with the College of Business and ISU Pappajohn Center for Entrepreneurship. Deb is also a 1980 graduate with a degree in child development. She works at Kingland Systems as an administrative assistant. The Kinglands live in Clear Lake. ■
VOLUME 25 NUMBER 2
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Mark Olthoff Jeff and Debra Oltmann Karen Otto Renee Otto Jeffrey and Cynthia Pattison Curtis Peerenboom Scott Pfeifer James and Renee Phelps Alice Pollard Carolyn Portner Robert and Christine Prell Nathaniel and Aminta Price Phillip and Andrea Price Anthony and Wanda Przymus Al and Janet Quattrocchi Douglas and Tina Ragaller Paul and Janet Rath Matt and Andrea Reynolds Robert and Elisabeth Reynoldson R. Michael Riddle Davin Roberts Allan and Diane Roderick Jeffrey and Bonnie Roe Margot Rogers Jeffrey Roskam Carl Russell Jennifer Santelli George and Marcia Schaller Jeffery and Malinda Schirm Joseph and Maggie Schnepf William and Darlene Schwickerath Gerald and Rosemary Sewick Larry and Dorothy Shima Karen Shimp Tim and Kimberly Sieck Warren and Susan Simons Robert and Shawn Simonsen Daniel and Rose Marie Smith Ross and Lisa Smith Tongtong Song and Liangping Yu Michael and Julia Sorden Mark Sorenson Scott Soth Thomas Stahl Ernest and Pauline Stark Steve and Pamela Stark Neal Steffenson Lon and Jodi Steger William and Marcia Steil Mark Steward IOWA STATE UNIVERSITY
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Samuel and Margaret Strotman Cristina Strudthoff Jeffrey Symons Martin and Susan Tendler Joel and Adrienne Tetreault William and Carol Thatcher Brian Thelen Lawrence Thompson Virginia Thompson James Thoreen Steven and Susan Tollefson Edward and Marcia Trainor Jason and Danielle Trumbauer Richard Van Allen Drew and Jean Vogel Jason and Jill Vote Suzanne Waller Daniel and Janice Walter Matthew and Jennifer Weber Russell Weeden Connie Weems-Scott Richard and Sandy Wellman Daniel and Carol Werner Michael and Shara Wessel Richard West Robert and Cynthia Wetherbee Thomas and Lisa Whitten David Willis Darren Wilson and Cheryl McNeill Steven Wilson Tom Wilson Larry and Christy Wirth Charles and Patricia Wise James and Sarah Woerdeman Michael Woods Darrell and Lianne Wright Lynn Yates
COLLEGE OF BUSINESS
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PROSPECTUS
S U P P O R T F R O M C O R P O R AT I O N S A N D F O U N D AT I O N S $500,000 AND ABOVE AEGON $50,000-$99,999 Caterpillar Foundation General Mills Foundation Transamerica Life Insurance Union Pacific Wells Fargo $10,000-$24,999 Boeing Jacobson Companies Pioneer Hi-Bred Principal Financial Group Foundation John Deere Foundation $5,000-$9,999 Deloitte Foundation Rockwell Collins Tyco Electronics $2,500-$4,999 Cargill KPMG Foundation Northwestern Mutual Foundation $1,000-$2,499 Accenture Foundation Auto-Owners Corporation Barr-Nunn Transportation Cerner Corporation ExxonMobil Foundation Federated Insurance Company First National Bank Ames H & R Block Foundation HSBC North America International Flavors & Fragrances Maverick Software Consulting Sevde Self Storage Wachovia Foundation Xcel Energy
$500-$999 Capital Group Companies Charitable Foundation CDS Global Meredith Corp Foundation Merrill Lynch Oklahoma Gas & Electric Company TCF Foundation Wellmark Blue Cross & Blue Shield $250-$499 A & B Foundation Alcoa Foundation Aon Corporation Grainger Ladue Family Dental Pepsico Foundation SC Johnson Fund Verizon Walt Disney Company Foundation $100-$249 Anheuser Busch Foundation Aviva Charitable Foundation Colhoun & Thompson Agency Eli Lilly and Company Foundation FBL Financial Group General Electric Fund IBM Corporation MidAmerican Energy Foundation NRG Energy Oracle Corporation Rick Barnes Insurance Agency Raytheon Company Sprint Foundation U.S. Bancorp Foundation Whirlpool Foundation ■
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DR . C HA R LES HA NDY
From the Desk of Founding Dean Charles Handy Assuming you have read the previous pages of this Prospectus, you are now aware of the college’s 25th anniversary.
“Such an institution was my goal and that of many others on the school faculty.”
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I am proud to have been a part of our birthday in 1984. I am also proud of our program’s accomplishments during the six years prior. They might well be called the conception and gestation period of the college. During the 1978-79 academic year the Department of Industrial Administration’s five area coordinators and I developed a 45-page document entitled “Report of the Industrial Administration Long-Range Planning Committee.” Included was a recommendation to convert the department to a professionally recognized school. The idea was the result of a conversation I had with our dean, Dr. Wallace Russell of the College of Sciences and Humanities (Liberal Arts and Sciences). On September 1, 1980, the school was established. On the evening of March 28, 1981, we gathered to celebrate our movement to school status. The evening featured presentations by Dr. Bill Thompson, President Robert Parks and me. Our discussions concerned the past, present, and future of business education at Iowa State. The evening did have the hint of a future college, one accredited by the American Assembly of the Collegiate Schools of Business, but the subject was not brought to the forefront. However, such an institution was my goal and that of many others on the school faculty. Coinciding with the establishment of the school, the undergraduate program was restructured in 1980 by defining five majors: accounting, finance, management, marketing, and transportation/logistics. This was the initial
step in developing a quality, high-demand undergraduate program. At the graduate level, the school inherited an MS in business administrative sciences. As a means of further development, the framework of a master of business administration was structured in 1983. After approval by the Board of Regents, the program became a reality in 1985. In addition to curriculum growth, the school brought about an increase in both student body size and the number of tenure-track faculty. In 1982 an outside consultant, Dean Clifford Larson of the University of Wisconsin-Oshkosh, conducted a review of the school’s movement toward improved education status. His report read, “It appears to this reviewer that the undergraduate program of Iowa State University School of Business Administration is in an advanced stage of readiness for accreditation.” Of course, to achieve that goal the school had to be a freestanding academic unit. At that time we were part of the College of Sciences and Humanities. Associate Director August Ralston was assigned the task of writing a report requesting elevation of the school to a freestanding college. Submission of the completed report took place during the later part of 1983. It was approved by the Board of Regents on August 19, 1983, with an effective change date of July 1, 1984. To gain growth and maturity our business program needed the experiences of 1978 to 1984. As I look back, I’m very appreciative of my ’78 meeting with Dean Russell. Inspired by a line from Shakespeare’s Hamlet, I’ll close with the following thought: “The school is the route wherein our college came about.” ■
VOLUME 25 NUMBER 2
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WWW.BUSINESS.IASTATE.EDU
C O L LE G E OF BU S I N ESS
Administration Labh S. Hira
Ronald J. Ackerman
Raisbeck Endowed Dean
Director, Graduate Admissions
Michael R. Crum
Steven T. Carter
Associate Dean, Graduate Programs
Director, Pappajohn Center for Entrepreneurship
Kay M. Palan
Ann J. Coppernoll
Associate Dean, Undergraduate Programs
Director, Undergraduate Programs
Marvin L. Bouillon
Mary F. Evanson
Chair, Department of Accounting Chair, Department of Finance
Director of Development
Mark S. Peterson Director, Graduate Career Services
Sridhar Ramaswami Director, PhD Program
Jennifer D. Reitano Director, MBA Recruitment and Marketing
Daniel J. Ryan Director, Marketing and Alumni Relations
Jeremy D. Galvin Thomas I. Chacko
Senior Director of Development
Chair, Department of Management Chair, Department of Marketing
James M. Heckmann
Kathryn K. Wieland Director, Business Career Services
Director, Small Business Development Center
Qing Hu Chair, Department of Logistics, Operations, and Management Information Systems
Soma Mitra Academic Fiscal Officer
Dean’s Advisory Council Craig A. Petermeier ’78, Chair
Beth E. Ford ‘86
Robert E. McLaughlin ‘60
President, CEO Jacobson Companies
Executive Vice President, Head of Supply Chain International Flavors and Fragrances, Inc.
Senior Partner Steptoe and Johnson, LLP
Ronald D. Banse ‘75
James F. Frein ‘67
Timothy J. O’Donovan ‘68
Assistant General Auditor Union Pacific Corporation
President, Retired Hutchinson, Shockey, Erley & Co
Chairman of the Board Wolverine World Wide, Inc.
Kelley A. Bergstrom ‘65
Russell Gerdin
David W. Raisbeck ‘71
President Bergstrom Investment Management, LLC
Chairman and CEO Heartland Express, Inc.
Vice Chairman, Retired Cargill, Inc.
Steve W. Bergstrom ‘79
Peter Gilman ‘86
Ann Madden Rice
Chairman Arclight Energy Marketing
President and Chief Executive Officer AEGON Extraordinary Markets
Chief Executive Officer University of California, Davis Medical Center
G. Steven Dapper ‘69
Isaiah Harris, Jr. ‘74
Frank Ross ‘84
Founder and Chairman hawkeye | GROUP
Consultant Palm Coast, FL
Vice President—North America Operations Pioneer Hi-Bred International, Inc.
John D. DeVries ‘59
Cara K. Heiden ‘78
Steven T. Schuler ‘73
CEO, Retired Colorfx
Co-President Wells Fargo Home Mortgage
Executive Vice President and Chief Financial Officer Federal Home Loan Bank of Des Moines
Jerald K. Dittmer ‘80
Daniel J. Houston ‘84
Walter W. Smith ‘69
President and Executive Vice President The HON Company and HNI Corporation
President, Retirement & Investor Services Principal Financial Group
CEO ITWC Polyurethane
David J. Drury ‘66
Richard N. Jurgens ‘71
John H. Stafford ‘76
Chairman and CEO, Retired The Principal Financial Group
Chairman, Chief Executive Officer, President Hy-Vee, Inc.
Vice President, Financial Shared Services General Mills, Inc.
David K. Ecklund ‘72
David J. Kingland ‘80
Jane Sturgeon ‘85
Director, Global Supply Chain Management Executive MBA Program University of Tennessee, Knoxville
President and CEO Kingland Systems
Chief Executive Officer Barr-Nunn Transportation, Inc.
Daniel L. Krieger ‘59
Jill A. Wagner ‘76
Chairman Ames National Corporation
Regional Vice President Frontier Communications Solutions
Cheryl G. Krongard ‘77
Mark Walker ‘79
Partner, Retired Apollo Management, LP
Senior Vice President C.H. Robinson Worldwide, Inc.
Denise I. Essman ‘73 President and CEO Essman/Associates and Essman/Research
Mark Fisher ‘76 President and CEO United Community Bank
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