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FEATURE STORY
Charting a Path Forward
Our world is forever changed by the COVID-19 pandemic. As we mourn the loss of loved ones or deal with financial challenges and uncertainty, we find hope in the promise of vaccines and treatment breakthroughs. We also find hope in the resilience and perseverance of the VSB community. Our students continue to impress us with their grace and determination during challenging times. Our faculty and staff have come together to provide leadership, innovate and find ways to use the pandemic for a greater good.
One of the positive outcomes of the pandemic has been the leadership shown in thought and action by both our staff and faculty. Faculty innovated in the classroom with new teaching methods and content to address current realities. (See Faculty Spotlight p.4). Faculty also became highly sought-after media experts in their respective fields. In numerous television and radio interviews and digital and print communications, our faculty offered insights, guidance and expertise for a rapidly changing business environment. Early in the shutdown, VSB leadership formed multiple task forces to address short- and long-term needs related to the pandemic. One group focused on the immediate impact to internships, study abroad programs and summer jobs for students. To address these lost or changed opportunities, the task force created the VSB Summer Practicum: Leading Through Disruption, coordinated by Jonathan Doh, PhD, associate dean of Research and Global Engagement, and Stephen Kelly, JD, professor of practice in the Management & Operations Department. The curriculum for the six-week, three-credit course combined academic instruction with skill-building and real-world experiential learning. The course addressed topics such as how periods of disruption and uncertainty can impact a business, and students participated in professional development workshops to learn skills for navigating a challenging environment.
Another positive outcome of the pandemic was increased enrollment in many of our summer and online programs. The Summer Business Institute (SBI) welcomed a record number of 157 students who earned a business minor or certificate in business through SBI online, and the program was expanded to include non-business students who were facing lost career opportunities. The Center for Church Management (CCM) more than tripled the enrollment in its fall Certificate in Church Management program (160 students, up from 52 the prior year) and added a spring cohort for the first time due to increased demand (an additional 72 students). According to CCM Director Chesley Turner, many Catholic dioceses are investing in their students by encouraging enrollment and assisting with tuition, even in the midst of the pandemic and reduced parish collections in many cases.
CCM Enrollment Increases
Our MBA and master’s programs have experienced similar growth. With more people working from home and traveling less, they have time to devote to a graduate program. They also want to increase their marketable skills and gain a competitive edge during an unstable job market. VSB graduate programs are well-positioned for the current environment with flexible options (online and in-person) and with most programs taking less than two years to complete.
Graduate Program Enrollment Increases
20% Fast-Track MBA 20% Online MBA 159% Master of Science in Finance 27% Master of Accounting with Data Analytics 38% Master of Science in Analytics
Many areas of VSB have responded to the pandemic by offering webinars with timely and relevant content.
The Finance & Real Estate Department pioneered a first-of-its-kind virtual seminar series dedicated to research in banking and financial intermediation. Known as WiFI (Webinars in Financial Intermediation), research papers are presented by the authors, who are top researchers in the field. Opportunities to present are also given to up-and-coming researchers to allow them the chance to present their work to a larger audience. The seminars include a Q&A with the audience, which generally includes faculty from other universities, researchers who work for regulatory bodies and PhD students. The seminars have averaged 40–50 attendees and have included the likes of Allen Berge, Ross Levine and Itay Goldstein. The Center for Church Management introduced a series of webinars on timely topics such as how church leaders should respond to the COVID-19 crisis, human resource considerations during the pandemic, planning for church reopenings after a shutdown, and the pandemic’s impact on parish giving and ongoing financial implications. The Center published several articles after the webinars to leverage the expertise that was shared and reach an even broader audience in local and national Catholic and church leadership publications. Looking Ahead: The Future of Leadership
The past year has taught us many lessons about what works in times of crisis and what does not. We know that strong leaders must show humility, be empathetic, provide transparent communication, act decisively and plan for the future. They also must demonstrate adaptability and be willing to take personal responsibility for themselves and their teams. According to Joyce E. A. Russell, PhD, The Helen and William O’Toole Dean,
In today’s world with all the challenges that we are facing, leaders need to demonstrate the right mix of characteristics and behaviors to not just survive, but more importantly, to thrive during a crisis.
We are proud of the many ways our faculty, students and staff continue to thrive in the face of challenge and uncertainty. No one could have accurately predicted everything that would come our way this past year, nor can we predict the future. However, as we continue to develop business leaders for a better world, we know that our students are more prepared than ever to face a changing world with optimism, resilience and the tools to thrive and succeed.
Registration for the CCM webinars ranged from 200–300 participants and included current and former students and those involved in church leadership.
