2012-2013 Center for Global Leadership Annual Review
The 2012-2013 Annual Review for the Center for Global Leadership at the Villanova School of Business.
CENTER FOR GLOBAL LEADERSHIP ANNUAL REVIEW 2012–2013 ANNUAL REVIEW 2012â€“2013 CENTER FOR GLOBAL LEADERSHIP Message from the Directors Around the World: Global Programs Leadership, Conferences and Recognition In the Classroom: Curricular Initiatives In the Community: Outreach and Service Among the Academe: Research and Thought Leadership Within the Center: Stakeholders, Partners and Supporters 2 4 10 15 19 23 28 Developing Business Leaders for a Better World. TM 1 Once again, this past year has been one of excitement and accomplishment for the Center for Global Leadership, the Villanova School of Business and Villanova University. Despite a continued volatile global business environment, our students, Advisory Council members, faculty and other stakeholders are actively engaged in meaningful international experiences abroad and at home. Our students continue to participate in international programs at a record level. More than 50% of our 2013 graduating class studied abroad during their undergraduate career (see p. 9). We launched the new freshman Global Citizens Program in Singapore (see p. 4) and the new sophomore program in Urbino, Italy (see p. 5). EMBA students traveled to South Africa, MBA students traveled to Australia, Dubai, Italy and the UK, and all of our Fast Track MBAs participated in the Global Practicum, with three sections traveling—and engaging in consulting projects—in South Africa, Argentina/Chile and Czech Republic/Turkey. Our International Business program was even ranked #11 in the nation (see p. 10)! We have had great success in leveraging the resources, expertise and connections of our tremendous Advisory Council. In September, we held a series of panels for the introductory Business Dynamics course featuring ten of our Advisory Council members that reached more than 500 students (see p. 15). We held a “Careers in International Business” panel at which four of our current Advisory Council members participated. Last summer, two of our advisors facilitated site visits in China for our students and another hosted several for internships. This summer, Advisory Council members have arranged two additional internships. In Singapore, one advisor helped secure six internships with KPMG and another helped arrange a panel at Singapore Management University for our students featuring managers from a global hedge fund co-founded by a VSB alumnus. Our faculty continue to expand their global horizons through teaching, research and projects, with the Center helping to fund and support many of these activities. Our students continue to leverage their business acumen and social commitment in various international service activities in Nicaragua, Panama and elsewhere. Many of these efforts are made possible, in part, by the generosity of the Center and its donors. Finally, the University has embarked on a comprehensive internationalization effort, led by Professor Susan Mackey-Kallis, involving dozens of faculty, students, staff and other stakeholders. The Center has been a key player in this project: I have had the pleasure of co-chairing the “International Strategic Partnership” subcommittee with Political Science Professor Maria Toyoda (who also serves as Associate Dean for Interdisciplinary Studies and Global Initiatives for the College of Liberal Arts and Sciences), and Center Director Kim Cahill chairs the subcommittee on International Community Engagement and Global Outreach. We look forward to working with Susan and the entire Villanova community to explore ways to further the global outlook and presence of Villanova. I would like to thank Dean Patrick Maggitti, CGL Advisory Council Chair Manny Nunez, Center Director Kim Cahill, Associate Faculty Director Ken Taylor, Karl Li, our student research assistant and all of our students, parents, faculty, Advisory Council members and other stakeholders for their support over this past year. 2 Jonathan Doh, PhD Message from the Faculty Director Upon joining the Center for Global Leadership more than a year ago, I was immediately drawn to the unique opportunity to contribute to the creation of a brand new position, and shape my current role. Advancing the integration of international business and global issues in the curriculum, research and outreach activities by developing, overseeing and supporting a diverse portfolio of dynamic programs and initiatives related to global business and leadership has been exciting and rewarding. Involvement with the University’s ACE International Leadership Team and the VSB Global Programs Committee has been meaningful and engaging, providing opportunities to learn about and actively contribute to internationalization strategies. Leveraging existing networks and building relationships with new colleagues, students, stakeholders and the Center’s Advisory Council have been particularly enriching, both personally and professionally. The level of commitment and sense of community shared by Villanovans is inspiring and unmatched by any of my past experiences. Opportunities to develop short-term IB study abroad programs and travelling with business students at the undergraduate and graduate levels to Asia, South America, South Africa and Central Europe in the past year will help guide the development of a formal evaluation and assessment tool to measure the learning outcomes of VSB’s international programs, and provide valuable feedback for continuous improvement. VSB’s commitment to ethical international business, responsible global leadership and volunteerism, and the fact that the fact that more than 50% of business students are studying abroad, initially attracted me to Villanova. Since then, becoming a part of a community and an environment that truly embodies the Augustinian ideals of Veritas, Unitas, Caritas—Truth, Unity, Love—have captured my spirit. Kimberly A. Cahill Message from the Director Cahill and Doh with EMBA XIII students on Table Mountain, Cape Town, Africa. Developing Business Leaders for a Better World. TM 3 AROUND THE WORLD: GLOBAL PROGRAMS Global Citizens Program Expands to Singapore Following a decade of increasing enrollments in London, VSB’s unique Global Citizens Program added a second location in Singapore this past spring. The sixteenweek overseas study experience combines academic coursework with a practical internship during the spring semester of freshman year. Participants are selected based on their high school academic credentials and receive an invitation to apply. One of the original Asian Tigers, Singapore is an Asian hub for commerce, the world’s fourth leading financial center, and its port is one of the five busiest in the world. Ultra modern skyscrapers are surrounded by green space and a legendary street food scene, and this city state is multicultural, well-structured, squeaky-clean and decidedly dynamic. Singapore is a secular multi-religious country due to its diverse ethnic mix of people originating from various countries. Most major religious denominations are present in Singapore. Reflecting its diversity, the country has four official languages: English, Chinese, Malay and Tamil. Singapore is an exciting starting point for a VSB student’s global business career. In February, CGL Advisory Council member Rick Smith hosted a panel session at Singapore Management University (SMU) featuring King Street Capital LLC that was facilitated by CGL Faculty Director Jonathan Doh and included students from both VSB and SMU. A second CGL Advisory Council member, Ron Steger, assisted in the placement of six students in a coveted KPMG internship. “Singapore is an incredible place to be, and I couldn’t imagine a more exciting semester abroad! The first eight weeks of the program were spent in the classroom, earning a semester’s worth of credits in half the time! Classes are challenging, the pace of the courses is very quick and teachers expect a lot of the whole class, making the learning experience an intensive one. Singapore is an exciting learning and work culture to be a part of, and I’ve definitely met lots of intelligent, hard-working individuals!” —ALISON MEAD ’16 VSB GCP 2013 (Left to right) Global Citizens in Chinatown, Singapore. Alison Mead ’16 VSB, Keleigh Ramos ’16 VSB, Hope Hruska ’16 VSB, Emily Richey ’16 VSB and Jeanette Ding ’16 VSB. 4 AROUND THE WORLD: GLOBAL PROGRAMS VSB SPONSORS NEW PROGRAM IN ITALY In January, VSB launched the Business and Culture in the Italian Context (BCIC) Program designed to meet the curricular needs of sophomores interested in International Business, Italian language and culture. Students are enrolled in three required business courses, one Italian language course, one elective course and they participate in a consulting project with a local Italian company. Villanova has a twenty-year relationship with the University of Urbino, which itself dates back to 1506 and has 20,000 students. An on-site resident director supports the program, students and the VSB faculty member in residence that co-teaches the anchor course, Competitive Effectiveness. VSB students are housed with Italian students and are also integrated in the classroom. Urbino is a UNESCO World Heritage Site with a rich cultural and artistic history. The city’s central location in Italy, along with its rich academic history, offers an excellent vantage point for students to explore the many facets of modern Italy’s economy and culture. Plans are underway to continue the program in the spring semester of 2014. Urbino, Italy. “ The BCIC program is unique in that it offers VSB sophomores the opportunity for a highly immersive and experiential semester in Italy while matching the progress of their Bartley classmates on VSB-specific core courses. Indeed, the curriculum not only includes intensive language instruction, but also a European perspective on the global political economy. In the cornerstone course of the program, students complete the innovative and applied Competitive Effectiveness class, working to provide a marketing plan and proposal to an Italian company. The program is based in Urbino, Italy, a walled city of great historical and cultural significance in the Marche region, often described as the crossroads between the industrial north and the agricultural south. As Italy is a collection of regions, each with its own distinctive culture and economy, the BCIC program uses excursions (Rome, Milan and Lecce) and company site visits to bring these differences into sharp focus. A key advantage provided by the semester-long format is ample time to travel within Italy and greater Europe. From my perspective, the BCIC program provides an exceptional opportunity for sophomores to have an intensive study abroad experience while keeping pace with their degree requirements.” —Kevin Clark, PhD Associate Professor, Strategic ManagemenT Developing Business Leaders for a Better World. TM 5 AROUND THE WORLD: GLOBAL PROGRAMS VSB IN CHINA BROADENS REACH To meet the demand of a growing global marketplace, future employers and the needs of our students, VSB continues its decade-long summer programming for undergraduate and graduate students in one of world’s fastest growing economies under the leadership of Wen Mao, PhD, associate professor of Economics. Undergraduate students participate in the International Business and Internship Program in Shanghai, combining coursework in Transitions of the Chinese Economy and Survival Chinese language training with a five-week internship and a variety of cultural activities. Two students were placed at W2, courtesy of CGL Advisory Council member Rich Heintzelman. MBA students spend two weeks completing the Studies in International Business Program with travel to Shanghai, Hangzhou and Beijing. Through team-taught courses at the East China Normal University (ECNU) and site visits in each of the cities, students are introduced to macroeconomics, business management, finance, the stock exchange, foreign trade and marketing in China. Lectures from professors at ECNU included FDI in China, Doing Business in China, Financial Reform, Equity Market in China, China’s Foreign Trade and the Sino-US Trade Relationship. Site visits to Penn-Engineering, hosted by CGL Advisory Council member Bill Shockley, and Unilever, facilitated by Steve DeRose, another council member, were highlights of the program. Additional site visits to GSK, J&J and Boehringer Ingelhei rounded out the experience. Cultural destinations included Yuyuan Garden, an acrobatic show, Summer Palace, Forbidden City and Great Wall of China. Unilever in Shanghai. CGL Advisory Council member Bill Shockley ’83 VSB leading a tour at PennEngineering. 6 AROUND THE WORLD: GLOBAL PROGRAMS MBA PRACTICUM SPANS THE GLOBE The MBA Global Practicum combines a semester-long international project with opportunities for students to travel to foreign countries in order to understand the geographic, economic, political, social, cultural and competitive factors that shape opportunities in those markets. This year, students traveled to South America, South Africa and Central and Southern Europe. The Global Practicum capstone experience builds on Villanova’s hallmark of merging cutting-edge business theory with practice. Student projects are global in scope, and examples include a market entry strategy, new product or service development and implementation strategy, or identifying operational efficiencies. As part of the engagement, the Villanova MBA student teams travel to the international company site or region to gather firsthand market knowledge. In Johannesburg and Cape Town, students collaborated with SAB Miller and the City of Johannesburg while visiting Coca-Cola, Accenture and the Sibanye Gold Mine. In Buenos Aires and Santiago, students worked with an IT firm, a winery, an electric utility and a fashion design company with site visits to Merck, SAAM and Chile Angels. In Prague and Istanbul, students consulted with Linet and Wikov Gear with visits to McKinsey, Koc Holding, Avast and T-Mobile. MBA Global Practicum in Istanbul, Turkey. EMBA Class XIII Students visit South Africa The VSB EMBA Class XIII students traveled to South Africa as part of their international immersion, visiting Cape Town and Johannesburg in early May. This immersion is the culmination of the Global Management course and is led by Dr. Jonathan Doh, the Herbert G. Rammrath Endowed Chair in International Business and the Director of the Center for Global Leadership at VSB. This experience is designed to build on the lessons learned in the classroom and provide students with a broader understanding of the complexities of doing business in an emerging economy. Students visit with local and multinational companies, engaging in detailed discussions of the country’s economy and current business climate. Time is also dedicated for exploration of the country’s cultural attractions. In Johannesburg, students met with Coca-Cola South Africa, BMW, Standard Bank and Sibanye Gold Mine. Cultural activities included a tour of Soweto and a visit to the Apartheid Museum and the Lion Park. In Cape Town, students were hosted by the University of Cape Town and heard from Solarzone, V&A Waterfront Company, Paarl Media Group and Shoprite Checkers. Visits to Cape Winelands, Table Mountain and a guided tour of Cape Town rounded out the cultural programming. EMBA XIII at BMW in Johannesburg, South Africa. Developing Business Leaders for a Better World. TM 7 AROUND THE WORLD: GLOBAL PROGRAMS MBA STUDENTS EXPERIENCE BUSINESS AND CULTURE IN THE EU, UAE, AUSTRALIA AND ITALY Last summer, Miron Wolnicki, PhD, associate professor of Economics, led the MBA Studies Program in the European Union. The term â€œseminarâ€? best describes the total experience of this program as it offers a one-of-a-kind, high level insight on economics and politics of the contemporary European Union. MBA students participated in a number of formal and informal meetings with bankers, scholars, lawyers, business people and members of the European Parliament, EU officials, ambassadors, a former prime minister and a central bank president. The program included pre-tour lectures at VSB and two weeks of travel in Brussels, Bruges, Warsaw, Krakow, London and Paris. During winter break, Sohail Chaudhry, PhD, professor, and Peggy Chaudhry, PhD, associate professor, Management and Operations, led a group of 29 MBA students for an immersion experience in the gulf state of United Arab Emirates. The VSB group was hosted by the American University in the Emirates, one of the most rapidly growing universities in the UAE. During the two-week program, students attended academic lectures, visited several businesses and industrial establishments and partook in many cultural activities at sites such as Burg Khalifa, Ski Dubai, Spice and Gold Souks. The group journeyed to the Emirate of Abu Dhabi where they visited Abu Dhabi University, The Sheikh Zayed Grand Mosque and Ferrari World. Michelle Casario, PhD, assistant professor of Economics, led the winter break MBA journey to Australia where students were introduced to macroeconomic policy, international trade policy and strategy and finance in Australia. Lectures were given by faculty at the University of New South Wales, University of Melbourne and Monash University. Students participated in business, government and academic meetings in the cities of Sydney, Melbourne and Canberra. Featured site visits included: The US Consulate General, the US Embassy, the Department of Foreign Affairs and Trade, the Australian Technology Park, the Coal Industry Center, Rockwell Automation, Baker and McKenzie Global Law Firm, and Octa Phillip Financial Group. In May, Debra Arvanites, PhD, assistant professor of Management and Operations, led the three-week MBA program to Milan that included a study of culture and languages, politics, society, economics and history of Italy. A practical introduction to European and Italian business, as well as culture and society, is also included. The program is taught in English by faculty from the SDA Bocconi, Bocconi University School of Management, and focuses on macroeconomics, business management, finance and marketing in Italy and the Euro-zone. MBA International Immersion in Sydney, Australia. 8 AROUND THE WORLD: GLOBAL PROGRAMS Villanova University Recognized for Study Abroad Each year, the Institute of International Education publishes Open Doors, a multifaceted report on international education that includes information on U.S. students studying abroad for academic credit at their home universities. Under the leadership of Lance Kenney, Office of International Studies Director, Villanova University ranked #4 nationwide among master’s institutions in the “Leading Institutions by Total Number of Study Abroad Students” category. Villanova University also ranked in the top ten of all universities in the nation. VSB leads the University in numbers of Villanova students studying abroad. Last year, 56% of VSB graduating seniors had a study abroad experience. They studied on 13 different programs in 21 different countries, including Brazil, China, South Africa and Turkey. Thirty-eight percent of students were in non-English speaking countries and nearly one-third undertook an international internship during their time overseas in locations such as Auckland, Dublin, Hong Kong, London, Sydney, Paris and Singapore. MBA students are also increasingly participating in short-term study abroad opportunities. Seventy-six graduate students traveled to eight different countries in Asia, Europe, the Middle East and Australia. Additionally, 100% of all Fast Track MBAs travel internationally during spring break to fulfill requirements for the Global Practicum. EMBA students also complete a required global immersion with an embedded travel component each May. VSB UNDERGRADUATE STUDY ABROAD 250 200 150 100 50 0 VSB WINTER AND SUMMER STUDY ABROAD Developing Business Leaders for a Better World. TM 9 LEADERSHIP, CONFERENCES AND RECOGNITION VSB RANKED 15TH AND INTERNATIONAL BUSINESS RANKED 11TH IN THE COUNTRY The Villanova School of Business (VSB) was once again recognized as one of the best undergraduate business schools in the nation in the 2013 Bloomberg Businessweek ranking. VSB ranked #15, placing among the top 20 business schools in the nation. Among the speciality rankings, International Business at VSB was ranked 11th in the nation, underscoring VSB’s increasingly global excellence. The annual undergraduate ranking is determined by academic quality, professional development, business relevance and student satisfaction. VSB performed exceptionally well in a number of categories: • #2 for Academic Quality • A+ in Teaching Quality • A+ in Job Placement “I continue to be impressed with the demonstrated strength of our academics, as well as the exceptional quality of our faculty, staff and students,” says Patrick G. Maggitti, PhD, The Helen and William O’Toole Dean. “We strive to push our students to move beyond identifying business problems to develop creative and sustainable solutions. With this ability, our students become business leaders for a better world. Our strong performance in the Bloomberg Businessweek ranking offers a welldeserved validation of the quality of our program. I am honored to work with such impressive students, faculty and staff.” VSB is known for its commitment to teaching excellence, distinguished research, academic rigor, superior faculty, state-of-the-art learning facilities and the integration of ethics and service into curricular and extracurricular experiences. The Clay Center at VSB, an advising and professional development center for business students, serves hundreds of undergraduates every week. The school actively engages its students within a personalized learning environment created to develop and hone business skills. Villanova’s recently revised undergraduate business curriculum emphasizes four areas of business excellence: a global mindset, innovation, ethics and analytics. This cutting edge curriculum underscores a holistic multidisciplinarily approach that is responsive to the rapidly-changing business environment. 10 LEADERSHIP, CONFERENCES AND RECOGNITION THIRD VILLANOVA BUSINESS LEADERS FORUM HELD The third annual Business Leaders Forum, a Villanova University signature event sponsored by VSB, was held on October 3–4. The Forum is designed to bring together VSB’s eight advisory councils—comprised of over 225 high-level executives across all industries—and other key stakeholders for networking and dialogue on important industry topics. The program began with opening remarks by Patrick G. Maggitti, PhD, The Helen and William O’Toole Dean, Villanova School of Business, followed by the Reverend Joseph C. Bartley, OSA Alumni Medallion Presentation. Award recipient Sheila F. Klehm ’83 VSB, Executive Director, Morgan Stanley Private Wealth Management Member, and member of the Villanova University Board of Trustees, was acknowledged for her distinguished career, commitment to her community and extraordinary service to the University and Villanova School of Business. James Politi, US Economist and Trade Correspondent, Financial Times, previewed the live coverage of the nationally-televised US Presidential Debate. Keynote Michael A. Smerconish, nationally-syndicated radio host, newspaper columnist, author and MSNBC contributor, engaged the audience on the topic of Economic and Political Transitions. An Industry Panel discussed the topic “Economics, Political Realities, and the Next President: The Challenges Facing Business Leaders in 2013,” and was moderated by Politi. Featured panelists included: Catherine M. Keating ’84 VSB, Head of Investment Management Americas, J.P. Morgan; Robert A. McMahon ’79 VSB, Leader, US Policy and Government Relations, Merck & Co., Inc.; and Michael J. Thomson ’80 VSB, President and COO, SunCoke Energy, Inc. The program concluded with closing remarks from The Rev. Peter M. Donohue, OSA, PhD, ’75 LAS, President, Villanova University. Journalist and commentator, Michael A. Smerconish. The Fourth Annual Business Leaders Forum will be held on October 2–3, 2013 Developing Business Leaders for a Better World. TM 11 LEADERSHIP, CONFERENCES AND RECOGNITION VSB Week— Dare to B GLOBAL PANEL HELD VSB Week is an annual event intended to celebrate and showcase Villanova School of Business initiatives, as well as expose students to emerging business trends and foster a sense of community within the college. This year’s program emphasized Villanova’s core values, Veritas, Unitas, Caritas, and incorporated the theme of: “Dare to B... Competitive, Global, Confident, CuttingEdge, You.” These topics were addressed through a combination of more than 15 formal and informal events, with the goal of encouraging the development of new skills, sharing of ideas and growing as business leaders. The Center for Global Leadership collaborated with VSB Week student leaders on a panel on Working Globally: Advice from International Business Experts. The panel featured CGL Advisory Council members Meredith Altenhofen ’11 VSB, Visa, Inc., Anthony Chiarello ’77 LAS, TOTE, Inc., Manny Nunez ’03 VSB, Inter-American Foundation, and Brian L. Scanlon ’94 VSB, McKinsey & Company, and was facilitated by Center Faculty Director Jonathan Doh. Panelists discussed their international career path and stressed the importance of international exposure and experience in our global economy. They also shared personal challenges that caused them to rethink some assumptions and perspectives about their home country in relation to other parts of the world. These panelists then discussed how globalization has changed their particular industry and concluded the presentation with a lively question and answer session with the student audience. (Left to right) Brian Scanlon ’94 VSB and Jonathan Doh. CGL Sponsors Global Real Estate Conference On October 11, the Center for Global Leadership collaborated with The Daniel M. DiLella Center for Real Estate to deliver a conference on the topic, “Global Real Estate Markets—Opportunities, Challenges and Strategies.” David J. Hartzell, Wood/Bell Professor and Director of the Kenan-Flagler Business School’s Center for Real Estate Development, served as the discussant and led panelists in an interactive discussion of the opportunities, challenges and strategies of global real estate markets. Panelists included Matthew G. McDevitt, Executive Vice President, Real Estate, BioMed Realty, Jonathan P. Mehlman, Managing Director, Group Co-Head of Real Estate, Lodging and Gaming-Americas, KPMG Corporate Finance, Joseph P. Smith, CFA, Managing Director, Co-CIO and Senior Global Portfolio Manager, CBRE Clarion, David Watkins, Director of European and Asian Investment Research with Heitman (Left to right) Matthew G. McDevitt and David Watkins. The program was held at The Radnor Hotel, attracted nearly 50 professionals, faculty and students and provided an intimate networking opportunity during the reception following the formal program. 12 LEADERSHIP, CONFERENCES AND RECOGNITION CGL Hosts Africa Trade and Investment Conference The Center for Global Leadership collaborated with the Sub-Saharan Africa Chamber of Commerce to host the East & Southern Africa Trade and Investment Conference in Bartley Hall on August 2. The conference highlighted current market trends and transactions in Sub-Saharan Africa, mining in Africa, trading and investment in the East & Southern Africa Trade Blocks (EAC & SADC) and private equity funds in Africa. The audience heard from the following presenters regarding trade opportunities, trends and transactions: Mr. Larry Farris, Commercial Counselor, US Commercial Service, US Consulate General, Johannesburg, South Africa; Mr. Vuyo T. Dunjwa, Executive Chairman of the Board, Sub-Saharan Africa Chamber of Commerce; Mr. Larry Nelson, International Trade Representative, Pennsylvania Office of International Business Development, DCED and Ms. Carol Brooks, Manager of Business Services & Diplomatic Liaison, City of Philadelphia Department of Commerce. The keynote address on African investment opportunities and private equity was delivered by Mr. Aubrey Mutale, Founder and CEO, UniCapital Group. UniCapital is a Pan African financial advisory firm operating in Johannesburg, South Africa. It cuts across all investment banking activities, providing advisory services and raising capital for equity deals. Among UniCapitalâ€™s core strengths is the ability to advise international companies on investment into Sub-Saharan Africa based on intimate local knowledge of many areas. Their team of experts also advises Sub-Saharan based companies, both private and public, with mergers and acquisitions programs. The Sub-Saharan Africa Chamber of Commerce is a trade and investment promotion organization whose mission is to enhance mutual partnership, trade and investment with Sub-Saharan Africa. They serve as an information resource for strategic market data, as a facilitator of stakeholder networking, a broker of key transactions, and a voice for members and the business community in the creation of ideal business and economic conditions that foster growth and prosperity in the private sector. The objective of the Sub-Saharan Africa Chamber of Commerce is to assist companies with finding suitable business partnerships, trade and investment opportunities as well as securing access to markets that result in increased business development and returns for exporters and investors. www.ssachamber.org Developing Business Leaders for a Better World. TM 13 LEADERSHIP, CONFERENCES AND RECOGNITION CGL Partners with World Trade Center CGL partnered with the World Trade Center of Greater Philadelphia to sponsor the Philadelphia International Showcase on September 11. The program is recognized as the region’s leading international business reception and networking event. It brings together the international business, diplomatic and academic communities to “showcase” the international vitality of Greater Philadelphia as a world-class region and international business destination. Over 175 representatives from the region’s international business community were in attendance and included local business leaders, government officials and representatives from the region’s economic development organizations. Pennsylvania’s Authorized Trade Representatives (ATRs) from around the globe were in attendance to informally discuss business opportunities in their respective markets. The ATRs conducted 350 one-on-one appointments with area companies leading up to the event, marking the launch of global business planning for these organizations. Keynote remarks were provided by Allison Vulgamore, president and chief executive officer of The Philadelphia Orchestra. Ms. Vulgamore was instrumental in sharing The Philadelphia Orchestra as cultural ambassador with the world and helping to increase awareness of the Greater Philadelphia region as a world-class city and international tourism destination. In June, The Philadelphia Orchestra visited China for its 2012 Residency Week and Tour. This pilot Residency Week initiative laid the ground work for what culminated in the signing of a five-year commitment to co-create future Residency programs with cities and provinces throughout China. Ms. Vulgamore concluded that expanding cultural connections strengthens global awareness of the region as well as commerce. www.wtcphila.org World Trade Center of Greater Philadelphia Staff members. CGL Co-Sponsors Global Marketplace Challenges Panel CGL collaborated with the Human Resource Development department, the International Business Society, Society for Human Resource Management and Multicultural Business Association on February 26 to present a panel discussion on “Global Marketplace Challenges: The Business Perspective.” Panelists featured CGL Advisory Council member Rick Smith (formerly with Accenture) from Singapore via Skype, Mark Sneff, VP of Human Resources, Premier Research and Melissa Leneis, HR Director, Tyco International. The session was moderated by HR Professor Katina Sawyer, and panelists responded to a series of questions from managing a global HR portfolio to how succession planning differs across cultures. Other topics included how to manage an expatriate employee’s performance, compensation and benefit challenges across borders, descriptions of a significant global human capital initiative and what countryspecific factors a company should consider when expanding globally. The program concluded with questions from the audience followed by a networking session for continued dialogue. 14 IN THE CLASSROOM: CURRICULAR INITIATIVES Ten CGL Advisory Council members served on the Business Dynamics Globalization Panels in Fall 2012 including Meredith Altenhofen ’11 VSB, Jim Burke ’87 VSB, Charlie Crew ’73 VSB, Anthony Dellomo ’65 VSB, Steve DeRose ’76 VSB, Tom Henry ’81 VSB, Manny Nunez ’03 VSB, Mike Petrane ’93 VSB, Bill Shockley ’83 VSB and Frank Sweeney ’73 VSB. Business Dynamics is a comprehensive, two-semester, six-credit course emphasizing the overarching purpose of business within society and the manner in which business vision is actualized. The course provides context for students’ business learning experience and integrates global, political, ethical and technological dimensions of business. Business Dynamics serves as the first step in preparing students to become creative and innovative problem solvers and seeks to develop analytical, business writing and presentation skills. The Globalization Panels reached more than 500 VSB freshman and transfer students in their first weeks on campus, and these students had an opportunity to learn from international business experts answering a series of questions and responding to inquiries from the audience. Panelists responded to the following questions: • What is the most important globalization trend and how is it likely to affect US businesses and their leaders in the coming decades? • What was the most surprising and powerful experience you had when traveling, living or working in another country? What did you learn from it? • What preparation do you recommend for students interested in an international career? • What specific steps can students take to become effective and responsible global leaders? 96% of respondents found the session very good/excellent; 73% reported they were likely/very likely to now take advantage of IB opportunities at VSB/VU; 42% stressed the importance of culture, language, listening; and 29% recognized the power of globalization. Plans are under way to offer this series of panels to all Fall 2013 incoming freshman. CGL SPONSORS BUSINESS DYNAMICS GLOBALIZATION PANEL Center Faculty Director Doh with Advisory Council members Meredith Altenhofen ’11 VSB and Mike Petrane ’93 VSB. Developing Business Leaders for a Better World. TM 15 IN THE CLASSROOM: CURRICULAR INITIATIVES INTERNATIONAL TECHNOLOGY AND SUSTAINABILITY COURSE INTRODUCED The new collaborative, multi-college International Technology and Sustainability course was launched in spring and included students from Business, Engineering, and the Liberal Arts and Sciences. The course was co-taught by VSB Professor Debra Arvanites, Engineering Professor Jordan Ermilio, and Geography and the Environment Professor Dr. Frank Galgano. The objectives of the course are to provide a sense of the role that technology and entrepreneurship play in contemporary society and how they can impact communities living in a developing context. This project-based course is offered simultaneously across all three schools for the purpose of establishing a framework for multi-disciplinary teams to collaborate on a project aimed at improving the lives of people living in challenging circumstances. All students completing this course gained a basic understanding of GIS software, the role of engineering in managing water as a resource, writing a business plan, and produced a deliverable that integrates skills from geography, engineering and business. Coursework during the first half of the semester drove the development of a final written deliverable which was presented to the class and shared with the project champion, Father Wally, in Wacuco, Panama. This course entails lectures through a traditional classroom environment as well as project meetings using a seminar format. In-class discussions during the lecture period and reading assignments were utilized to reinforce project-related activities. Project related work involved team meetings and team final deliverable. Communication skills were emphasized throughout the course and included formal and informal written reports and oral presentations. Students enrolled in this course traveled to Panama during semester break for the purposes of collecting field data specific to the project and gaining a better understanding of local stakeholders within the project area. Kaitlyn Dormer â€™14 VSB (left) in Wacuco, Panama. 16 IN THE CLASSROOM: CURRICULAR INITIATIVES CGL Sponsors International Business Case Competition Team The Center for Global Leadership sponsored a team of four undergraduate students, led by Dr. Johnny Lee, Assistant Professor of Accountancy and Information Systems, to participate in Northeastern University’s Third Annual International Business Case Competition on November 1–3. Villanova’s JD Consulting Team consisted of Katie Papeika ’13 VSB, an Accounting and Finance double major, Guadalupe Mata ’13 VSB, an Economics major with a minor in Psychology, Karl Li ’15 VSB, MIS and Finance double major, and Quan Tran ’15 VSB, an Accounting and Finance double major. Eighteen teams from across the US and Canada gathered for three days to compete against each other to determine which school would leave Boston as the 2012 winning team. Teams consisted of undergraduate students from the following schools: American University, Canisius College, Florida International University, Georgetown University, Loyola University—Chicago, McGill University, Northeastern University, San Diego State University, Temple University, University of Hawaii—Manoa, University of Oklahoma, University of Richmond, University of San Diego, University of South Carolina, University of Western Ontario, Villanova University, Washington State University and Washington University in St. Louis. The teams were given a case Friday morning and had until Saturday morning to come up with an analysis and recommendations. All teams presented in the preliminary round of the competition on Saturday morning, and four teams were selected by panels of judges to compete in the final round Saturday afternoon. First place went to the University of Western Ontario, second place went to University of South Carolina, third place went to Northeastern University, and fourth place went to the University of San Diego. Although JD Consulting did not advance to the final round, participant Karl Li commented, “The competition provided ample exposure and insight about the consulting world.” (Left to right) Christopher McIndue, Northeastern University host, Lupe Mata ’13 VSB, Quan Tran ’15 VSB, Katie Papeika ’13 VSB and Karl Li ’15 VSB. Developing Business Leaders for a Better World. TM 17 IN THE CLASSROOM: CURRICULAR INITIATIVES New International Business ELECTIVES OFFERED Luis Lacouture, Global Franchise Leader at Merck and VSB Adjunct Professor, recently introduced a new MBA course, “The Importance of Emerging Markets —Fueling The Global Economies’ Growth.” Globalization has unified the world’s markets and economies like never before and will continue to increase as companies, foreign and domestic, new or established, continue to explore new businesses and/ or additional opportunities for continued growth. Based on current trends and cross industry analysis, the world’s economic growth will be fueled in large part by countries that have been defined as “emerging.” More mature markets like the US and Europe have slower growth rates that are expected to slow even more in the future. Emerging Markets, on the other hand, have significant “untapped” potential and both foreign multi-nationals and local companies want to benefit from these business opportunities. Each of these markets has advantages and disadvantages that have to be fully understood. This course explores strategies to effectively leverage the great potential of emerging markets. The course also provides guidance to critically evaluate the dynamics and characteristics of emerging markets and identify the opportunities and strategies to be successful. Featured guest speakers, some via Skype,have hailed from India, Colombia, China, Brazil and Bulgaria. Center Faculty Director Jonathan Doh has developed a new undergraduate business course, “Global Sustainability Management,” which will be taught in fall of 2013. The course will explore the challenges and opportunities of sustainable business management, with particular focus on the role of corporations—in conjunction with other stakeholders—in developing and implementing strategies that advance environmental, social and economic sustainability globally. The course format will include case discussion, projects and guest lecturers from senior executives involved in sustainability programs. The course is part of Villanova and VSB’s overall commitment to ethics, social responsibility and sustainable management. 18 IN THE COMMUNITY: OUTREACH AND SERVICE International development work was the focus of a Global Development Day, hosted April 2 at Villanova University in partnership with Catholic Relief Services (CRS), the US Catholic bishops’ overseas relief and development agency. The program was sponsored by CRS, The Center for Public Health, College of Nursing, The Career Center, and co-sponsored by the Center for Global Leadership and College of Liberal Arts and Sciences. More than 160 students from Villanova University and Cabrini College learned how to break into the field of global development and poverty relief through presentations by CRS staff and other agencies. The program opened with a panel presentation featuring CRS’ Global Director of Health and HIV, Shannon Senefeld, CRS Country Representative Chandreyee Banerjee and Sean Moore, who works for Acumen Fund, a venture philanthropy fund. After the panel discussion, participants led small-group breakout sessions to provide students with more detailed information on their respective work. Other guest speakers led groups through topics such as global health and humanitarian engineering specifically dealing with water supply and sanitation projects, plus advocacy to call for policy changes in support of global development. Students also had opportunities to review information and meet representatives of dozens of global organizations working in poverty relief in developing countries. Organizers of the Global Development Day pointed out that the impetus for it was the students themselves. Since CRS formed partnerships with Villanova and Cabrini in 2005, offering programs and training of student leaders for CRS, meeting the students’ desire to learn about career opportunities in development was a natural fit. Students throughout the day were encouraged to identify the work that excited them and then pursue that career, a point that made an impact on attendees. Suzanne Toton of Villanova’s Office of Mission and Ministry in the College of Liberal Arts and Sciences was inspired by the students and the ongoing work of CRS and its partners in the development sector. “Being exposed over the years to the partnership, seeing lay people who have expertise in agriculture, in trauma, in health, there are opportunities to use your education and your skills to address these cases of suffering and reduce the needless misery and needless death,” Toton said. “Here are people who are living what they believe and are concretizing those principles of Catholic social teaching— solidarity, the option for the poor, subsidiarity.” VILLANOVA HOSTS GLOBAL Development Day: A Roadmap TO YOUR CAREER (Left to right) VSB Professors Jonathan Doh and Jim Klingler with Sean Moore, Acumen Fund. (Left to right) Sarah Garwood ’15 LAS and Susan Wadel of Mennonite Central Committee. Developing Business Leaders for a Better World. TM 19 IN THE COMMUNITY: OUTREACH AND SERVICE CGL Joins Global Philadelphia Association The Global Philadelphia Association was founded in 2010 by nine of the leading international organizations in the Greater Philadelphia Region. It has been incorporated as a member-governed Pennsylvania nonprofit corporation whose purposes are: • To assist and to encourage greater interaction among the many organizations and people who are engaged in one form or another of international activity within the Greater Philadelphia Region; • To promote the development of an international consciousness within the Region; • To enhance the Region’s global profile. The Association aims to improve coordination of activities and messaging among international organizations in the Philadelphia region. The Association will provide a platform for the encouragement and support of each member organization’s activities, programs and stature. At the same time, it will provide them with a unified voice and message regarding the role and importance of internationally-focused organizations, businesses and initiatives and the potential synergies that exist between and among them. CGL joins over 30 organizations, businesses and internationally-minded individuals that are members in the Global Philadelphia initiative, and more are joining all the time. IBS MAINTAINS MOMENTUM The mission of the International Business Society (IBS) is to provide a global perspective for students interested in internationally-related careers. IBS brings together American and international students, invites companies and speakers to share international aspects of business, and provides students with valuable information regarding jobs, internships and study abroad opportunities. The 2012–13 Executive Board includes: Remy Oakland ’15 VSB, president; Bill Skinner ’15 VSB, co-president; Teddy Repko ’15 VSB, vice president; Nicole Latos ’14 VSB, marketing director and Zal Sayari ’15 VSB, treasurer. IBS continues to hold bi-weekly meetings with the IB Council, which is comprised of a select group of society members who have a desire to learn more about international business. The council facilitates discussion of internationally-related business topics while being divided into five world regions: North America, South America, Europe, Asia/Oceania and Africa. At each meeting, members bring at least one article that they have researched to share current business or cultural news in their assigned region. IBS also looks to incorporate case studies in council meetings that focus on domestic and foreign companies that have expanded internationally. These initiatives seek to foster open discussion among council members and provide the larger membership with a better understanding of the international business community. 20 IN THE COMMUNITY: OUTREACH AND SERVICE Business Without Borders CONTINUES PROGRESS Villanova Business without Borders (BWB) is a Net Impact affiliated group of sociallyminded business students. The purpose of BWB is to show VSB students how business skills can be leveraged for the social good. Through presentations, events and discussions, students are exposed to opportunities for those who want to use their business skills and serve the community. BWB hopes to inspire, educate and equip individuals to use the power of business to create a more socially and environmentally sustainable world. BWB was recently awarded Silver Standing by the international Net Impact organization. Only five of 67 UG Net Impact chapters achieved Silver status this year. Chapters that receive this recognition create opportunities for their members to develop business acumen, network and build a community focused on creating change. CGL sponsored five BWB officers to attend the annual Net Impact conference in Baltimore. This year, BWB continued with ongoing activities including the IRS’s Volunteer Income Tax Assistance (VITA) program and entrepreneurial projects in Nicaragua, but also branched into a number of new areas. A member’s interest in microfinance led to the creation of a KIVA subcommittee, in which the students raise money on campus and lend it out to entrepreneurs in developing economies in the form of microloans. An organization called Profugo, based in Ardmore but working to improve the lives of those in rural India, asked for some business advice, and BWB students are developing inventory management and marketing consulting plans for the organization. Another new connection made was with the Starfish Foundation, an organization that provides educational assistance to at-risk youth in Ecuador, for which a successful benefit dinner was planned and run by BWB members. BWB is led by Faculty Advisor Debra Arvanites, and the following Executive Board: Co-Presidents, Erin Digan ’14 VSB and Kaitlyn Dormer ’14 VSB; Administrative and Net Impact, Lori Jamolawicz ’14 VSB; Campus Leader, Katie Schaad ’14 VSB; International Projects, Wyatt Craig ’15 VSB and Will Seabaugh ’16 VSB; Local Projects, Caroline Turpin ’15 VSB; Profugo (Local Projects), Vidhi Shah ’15 VSB; Outreach, Phil Brady ’14 VSB and Griffin Coakley ’15 VSB; VITA, Tiffany Weisbecker ’16 VSB and Ling Han ’14 VSB and, KIVA, Alison Mead ’16 VSB. Developing Business Leaders for a Better World. TM 21 IN THE COMMUNITY: OUTREACH AND SERVICE Multicultural Business Association (McBA) FORMED The mission of the Multicultural Business Association (McBA) is to empower Villanova students with the skills and the confidence necessary to ignite change as business leaders while embracing diversity through innovative events. The purpose of the McBA is to unite students from diverse backgrounds within VSB and work with them to cultivate professional and personal skills. This will is achieved through events that focus on networking, job placement opportunities, community involvement and the development of professional etiquette. The Second Annual Multicultural Business Association (McBA) Career Conference “Following Your Passion” was held last November. Keynote Darrel Coach D Andrews presented, “How To Find Your Passion And Make A Living At It!” The program also featured a networking dinner, interactive workshop and mini career fair. McBA is led by Chairman of the Board, Ladonna Edwards ’15 VSB under the guidance of Aronte Bennett, assistant professor of Marketing and Business Law who serves as faculty advisor. Executive Board members include Lemuel Wong ’15 VSB, Darcy McLaughlin ’15 VSB, Jared Dawson ’16 VSB, Christian Diaz ’15 VSB, and Stephen Jones ’14 VSB. Additional programming is assisted by the following working groups: Event Planning (EP) Committee; Public Relations (PR) Committee; Corporate Relationship Management (CRM) Committee; Records Management (RM) Committee; and, VSB Societies Liaison Committee. VILLANOVA WOMEN IN BUSINESS ACTIVITIES HELD On November 6, Center Director Kim Cahill served as a panelist on the session entitled, “Oh, The Places You Will Go: Women Working Abroad,” at the Annual Women in Business Conference. The panelists shared their experiences about working abroad and provided suggestions for students interested in preparing for an international career. The student led Women in Business Society and the Clay Center at Villanova School of Business collaborate to sponsor the conference annually. The keynote presentation was delivered by Christine Dorfler ’97 VSB, Chief Financial Officer, NBCUniversal. Other sessions included, “Health and Wellness: Staying Healthy after College on a Budget,” “Your Personal Brand: How to Land the Interview” and, “Planning for Personal Finance After College: To Jimmy Choo or Not to Jimmy Choo.” In April, Villanova Women in Business and CGL co-sponsored a panel session organized by Tina Ley ’13 VSB, a Gilman Scholar, on the topic, “Study Abroad: Sharpening Your Competitive Edge.” The following Panelists shared their experiences while studying and interning abroad: Tina Ley ’13 VSB, Accounting and Finance majors, Chinese minor—semester in Hong Kong and internship at KPMG in Kuala Lumpur, Malaysia. Amayo Bassey ’14 VSB, Accounting and IB majors—semester in Hong Kong and internship with Friends Provident International. Caroline Kozub ’14 VSB Marketing major—summer in London and semester in New Zealand. Morgan Puleo ’14 VSB, Accounting major, Finance minor—semester in Sydney, internship with PricewaterhouseCoopers (PwC). (Left to right) Morgan Puleo ’14 VSB, Tina Ley ’13 VSB, Caroline Kozub ’14 VSB and Amayo Bassey ’14 VSB. 22 AMONG THE ACADEME: RESEARCH AND THOUGHT LEADERSHIP On April 16, CGL welcomed Greg Mancini ’95 VSB as a CGL Distinguished Visiting Alumnus. Mr. Mancini is a portfolio manager with Dabroes Management, L.P. in New York City, a hedge fund founded by brothers Abe and Jack Eisenstadt, who were former managers with Caxton Associates and SAC Capital Advisors. Mr. Mancini has been with Dabroes since 2008 when the Eisenstadt brothers founded the firm. Prior to Dabroes Management, Mr. Mancini worked for Caxton Associates, joining the New York-based investment firm in late 2006. Previously, he worked for Deutsche Bank in New York, where he was a director in its Global Equities division, and also served as a vice president. He also held accounting positions with HSBC, and was previously a vice president with JPMorgan Chase. In this latter capacity, Greg lived in both London and Munich, during which time he was seconded and worked for the CFO of Allianz, the large, multinational financial services firm. While on campus, Mr. Mancini had an opportunity to meet with VSB leadership and was a guest lecturer in Professor Erasmus Kersting’s International Macroeconomics class. At a roundtable luncheon with VSB faculty and staff, Mancini shared his views on the Euro crisis, prospects for European economic recovery, the role of the European Central Bank and national governments in that process, and the opportunities for investing in companies that may be undervalued due to the overall negative sentiment about the European region. CGL HOSTS DISTINGUISHED VISITING ALUMNUS (Left to right) Patrick G. Maggitti, PhD, The Helen and William O’Toole Dean and Greg Mancini ’95 VSB. CGL HOSTS DISTINGUISHED VISITING SCHOLAR CGL collaborated with the Department of Economics to feature Dr. Katharina Michaelowa’s research seminar, “Making Aid Work for Education in Developing Countries,” last November. Dr. Katharina Michaelowa is a professor at the Institute for Political Science, University of Zurich, and former Director of the Center for International and Comparative Studies. The presentation included econometric analysis of the impact of foreign aid on education and is related to a project on aid effectiveness by the United Nations World Institute for Development Economics Research. Dr. Michaelowa is currently chair of the Research Committee on Development Economics of the German Economic Association and is on sabbatical at Villanova. Katharina Michaelowa, PhD. Developing Business Leaders for a Better World. TM 23 AMONG THE ACADEME: RESEARCH AND THOUGHT LEADERSHIP Global Faculty Make their Mark Center Faculty Director, Rammrath Chair and Professor of Management and Operations Jonathan Doh, PhD, Scott Newbert, PhD, associate professor of Management and Operations, and Joseph LiPuma, professor, EMLYON, published “The Effect of Institutional Quality on Firm Export Performance in Emerging Economies: A Contingency Model of Firm Age and Size,” in Small Business Economics. Doh and Center Associate Faculty Director Ken Taylor, PhD, assistant professor of Economics, published “Framework for Understanding Fair Trade Disintermediation,” in Business & Society Review. Doh also wrote a business case (with Ted London and Vasilia Kilibarda, University of Michigan), “Building and Scaling a Cross-Sector Partnership: Oxfam America and Swiss Re Empower Farmers in Ethiopia,” published by Michigan’s William Davidson Institute that placed second in the oikos International Case Competition, Corporate Sustainability Track. Doh also presented several papers and organized panels at the Academy of Management (Boston, MA), Academy of International Business (Washington, DC), and Strategic Management Society (Prague, Czech Republic). He won the VSB McDonough faculty research award. Doh was also elected to a five-year term as part of the executive leadership of the Academy of Management Organizations and Natural Environment Division, the most international of the Academy Divisions, under which he will serve as pre-conference chair for 2013, Program Chair (2014), Division Chair-elect (2015) and Division Chair (2016). Erasmus Kersting, PhD, assistant professor of Economics, published “Firm Productivity, Innovation, and Financial Development,” in Southern Economic Journal. Narda Quigley, PhD, associate professor of Management and Operations, published “Implicit Motives, Leadership, and Follower Outcomes: An Empirical Test of CEOs,” (with Andre Delbecq, Robert J. House, and Mary Sully de Luque) in Journal of Leadership and Organization Studies. Tina Yang, PhD, assistant professor of Finance, authored “Shareholder Proposal Rules and Practice: Evidence from a Comparison of the United States and United Kingdom” (with Bonnie G. Buchanan, Jeffry M. Netter and Annette B. Poulsen), in American Business Law Journal. CGL continues to provide funding for international faculty development. VSB faculty traveled to a number of countries to enhance their research and broaden and deepen Villanova’s connections and relationships around the world. Debra Arvanites, PhD, assistant professor of Management and Operations, traveled to Panama with her new multi-disciplinary course, “International Technology and Sustainability.” Arvanites also received the Inaugural Award for the President’s Grant Proposal Program for the Development and Implementation of Interdisciplinary Courses. Aronte Bennett, PhD, assistant professor of Marketing and Business Law, presented at the International Conference on Technology and Business Management, Dubai, UAE, “Country Image as FDI and a Growth Driver: Lessons Learned.” Wayne Bremser, PhD, professor of Accountancy and Information Systems, presented “The Challenge of Accounting Education” at the 2012 annual conference of the Canadian Academic Accounting Association. Q Chung, PhD, professor of Accountancy and Information Systems, presented at the International Conference on Computers, Networks, Systems, and Industrial Applications, in South Korea, “Mobile Services in the Age of IT Convergence: A Framework for Discovery of Opportunities.” 24 AMONG THE ACADEME: RESEARCH AND THOUGHT LEADERSHIP Suzanne Clain, PhD, associate professor of Economics, presented at the Sexual Orientation and Discrimination in the Labor Market workshop in Paris, France, “Exploring Job Satisfaction by Gender and Sexual Orientation.” Kevin Clark, PhD, associate professor of Strategic Management, traveled to Urbino, Italy, to develop the new study abroad program for VSB sophomores, “Business & Culture in the Italian Context.” Scott Dressler, PhD, associate professor of Economics, presented at the Society for Economic Dynamics Conference in Limassol, Cyprus, “A Long-run, Short-run, and Politico-Economic Analysis of the Welfare Costs of Inflation.” Johnny Lee, PhD, assistant professor of Accountancy and Information Systems, presented at the Global Marketing Conference in South Korea, “The Financial Impact of Loyalty Programs in the Hotel Industry: A Social Exchange Theory Perspective.” The paper was winner of the “Best Conference Paper Premier Award.” John Matthews, PhD, assistant professor of Finance, presented at the International Conference for Academic Disciplines in Aix-en-Provence, France, “Social Sustainability: UnderResearched and Much Needed in the Business Curriculum and Business World.” Janice Sipior, PhD, professor of Information Systems, served as a panelist with international journal editors at the European Conference on Information Systems in Barcelona, Spain. Burke Ward, PhD, professor of Marketing and Business Law, presented at the European and Mediterranean Conference on Information Systems in Munich, Germany, “Internet Users’ Information Privacy Concerns: An Empirical Assessment.” Renya Wasson, PhD, adjunct assistant professor of Economics, traveled to Costa Rica to explore development of a summer international business program. Miron Wolnicki, PhD, associate professor of Economics, presented at the Shanghai International Conference on Social Science in China “Pragmatism in American Economic-policy Making.” CGL ANNOUNCES CRITICAL INCIDENTS AWARD CGL supports Villanova faculty who develop and use mini-cases that integrate global citizenship, ethical decision-making, and concern for global corporate responsibility. This year, Tim Monahan, PhD, John M. Cooney Endowed Professor, Accountancy and Information Systems, and Jim Bierstaker, PhD, associate professor, Accountancy and Information Systems, developed a case study about the acquisition of a software company that operates internationally regarding ethical issues and cross-cultural implications in a global context. Bierstaker integrated a second case study that addressed responsibilities of an audit review partner. Developing Business Leaders for a Better World. TM 25 AMONG THE ACADEME: RESEARCH AND THOUGHT LEADERSHIP CGL ANNOUNCES AWARDS for Research Excellence CGL recognizes the authors of high-quality research papers in the areas of global leadership by providing $1,000 research excellence awards. The winning papers are selected after rigorous blind-peer review and are presented at the Center’s Research Seminar at the end of the spring semester. Given the importance of global leadership in all of today’s rapidly changing business environments, authors from all business disciplines are encouraged to submit. The paper must have a clear relationship to some aspect of global business and/or responsible leadership, broadly defined. This is a selective and competitive process. The Center for Global Leadership at Villanova School of Business is pleased to announce the 2012–13 RESEARCH EXCELLENCE AWARDS: Development Cooperation, New and Old: China, the EU, and the United States Erasmus Kersting Christopher Kilby HONORABLE MENTION AWARDS: Empowering Leader Behaviors for Enhanced Performance and Retention of Professionals Stephen A. Stumpf The SEC’s Elimination of 20-F Reconciliation Walter G. Tymon, Jr. and the Cost of Debt Alternative Pathways to Persuasion: How Lucy Huajing Chen Graphic Visual Health Warnings Affect Adolescent and Young Adult Smokers’ Saiying Deng Thoughts of Quitting Parveen Gupta J. Craig Andrews Heibatollah Sami Richard G. Netemeyer Profits and Corporate Philanthropy: Jeremy Kees An Economic Rationale for Dual Mission Scot Burton Hybrid Firms Wen Mao CEO Duality, Competition, and Firm Performance John A. Pearce II Tina Yang Renya Reed Wasson Zhao Shan Knowledge Flows and Influence in Top Management Teams: Examining the Role Balanced Scorecard Target Setting with of Relational and Structural Networks Resource Constraints Scott Livengood Hermantha Herath Dante DiGregorio Wayne G. Bremser Kevin D. Clark Jacob G. Birnberg The Effect of a Fraud Scenario on Auditors’ Risk Assessments and Planning Judgments James Lloyd Bierstaker Denise R. Hanes Jay C. Thibodeau CGL wishes to gratefully acknowledge the financial support of Mary V. and Herbert F. Aspbury in making these awards possible. (Left to right) Award winners Lucy Chen, John Pearce, Renya Wasson, Erasmus Kersting, Christopher Kilby, Wen Mao. 26 AMONG THE ACADEME: RESEARCH AND THOUGHT LEADERSHIP VSB NAMES EMERGING scholar in International Business Christopher Kilby, an associate professor of Economics, has been selected as VSB’s Emerging Scholar in International Business for 2013–2016. Kilby joined Villanova in 2008 and served as acting associate director of CGL during the 2010–2011 academic year. Professor Kilby received his undergraduate degree in Chemistry from Harvard University and his PhD in Economics from Stanford University. His research focuses on the political economy of foreign aid, including such topics as: the impact of aid on democracy; how domestic and international politics shape US aid; US influence in international organizations; and how donor influence in international aid organizations impacts aid effectiveness. Kilby’s research on aid has been published in top field journals including the Journal of Development Economics, Economic Development and Cultural Change, Economics Letters, the Review of International Organizations, and World Development. He is on the editorial board of the Review of International Organizations as well as serving as the journal’s Book Review Editor. Professor Kilby is also on the program committee for the annual international conference The Political Economy of International Organizations (hosted at Villanova in 2012 and co-sponsored by CGL). Prior to joining the faculty at VSB, Professor Kilby taught at Vassar College for 14 years. Kilby was also a recipient of the CGL Research Excellence Awards for his paper with Erasmus Kersting entitled, “Aid and Democracy Redux.” Additionally, the paper will be presented at three upcoming international conferences including: “Development Economics and Policy,” Research Committee on Development Economics, German Economic Association (Munich, June 2013); “Institutions and Development,” DIAL Development Conference (Dauphine Université Paris, June 2013); and the Eighth Pan-European Conference on International Relations (Warsaw, September 2013). Christopher Kilby, PhD. Developing Business Leaders for a Better World. TM 27 Within the Center: Stakeholders, Partners and Supporters ACE INternational Leadership Team LAUNCHED Villanova University, along with eight other institutions, has been named to the American Council on Education (ACE)’s 2012–13 Internationalization Laboratory Cohort. As a member, Villanova will develop strategies for campus internationalization by: forming campus leadership teams to work on strategic planning and student outcomes, attending community meetings in Washington, undergoing site visits and peer reviews, and participating in monthly calls with the Laboratory director. The ACE Internationalization Laboratory is an invitational learning community that assists participating institutions to develop a capacity, capability and strategy for comprehensive internationalization, which is infusing an international/intercultural dimension to all aspects of teaching, learning, research, service and outreach. Involvement lasts 16–20 months. At Villanova University, Susan Mackey-Kallis, PhD, is leading this effort as chair of the International Leadership Team. Mackey-Kallis is an associate professor of communication in the College of Liberal Arts and Sciences. “ Becoming global citizens is a value in both life and career, both on campus and internationally. Our goal is to develop a plan for comprehensive internationalization that will help the University strengthen its global leadership and engagement even further. Susan Mackey-Kallis, PhD chair of the International Leadership Team The international leadership team will look closely at many areas—education abroad, international scholar and student development, faculty development, international research and grant development, outreach, and international teaching and learning— to see how the University can systematically move forward in its strategies regarding internationalization. The International Leadership team is comprised of the following members: Susan Mackey-Kallis, associate professor, Communication, Chair of the ACE International Leadership Team College of Engineering: Andrea Welker, professor, Civil and Environmental Engineering; Pali Singh, professor and chair, Department of Civil and Environmental Engineering College of Nursing: Frances Keen, associate professor, Interim Director Center for Global and Public Health ” “ The Laboratory helps campuses focus attention on and create a community of understanding around the concept of internationalization. This cohort is made up of a diverse group of engaged individuals who will energize their faculty and leadership to enhance the way they approach global education. School of Business: Jonathan Doh, professor and Herbert G. Rammrath Endowed Chair in International Business and Faculty Director, Center for Global Leadership; Kim Cahill, director, Center for Global Leadership; Wen Mao, associate professor and chair, Department of Economics College of Liberal Arts and Sciences: Maria Toyoda, associate professor and associate dean, Interdisciplinary Studies and Global Initiatives; Seth Whidden, associate professor and coordinator, French and Francophone Studies, chair pro tem, Faculty Congress; Louise Russo, associate professor, Biology and Chair, Academic Policy Committee Office of International Studies: Lance Kenney, director, Office of International Studies Enrollment Management: Steve Merritt, dean, Enrollment Management Student Representative: Jacklynn Wong ’14 VSB, Gilman Scholar ” Barbara Hill senior associate in ACE’s Center for Internationalization and Global Engagement Since 2002, 68 institutions have participated in the program. Founded in 1918, the American Council on Education (ACE) is the major coordinating body for all the nation’s higher education institutions, representing more than 1,600 college and university presidents, and more than 200 related associations nationwide. It seeks to provide leadership and a unifying voice on key higher education issues and influence public policy through advocacy, research and program initiatives. 28 Within the Center: Stakeholders, Partners and Supporters Global Leadership Fellows Mentor Program DEVELOPED CGL launched a new mentor program, matching nine students admitted to the Global Leadership Fellows program with volunteers from our Advisory Council. The mentoring relationship provides an additional source of advice, support and guidance to the student, as well as an opportunity to engage our council members and leverage their valuable advice, knowledge and experience navigating the global business environment. Developing a mentoring program not only enriches the lives of those being mentored, it allows the mentors to feel like they are contributing. The significance of mentors is monumental. Some of the greatest leaders in the world got where they are today through the guidance of those they consider teachers and mentors. The mentor program launched with a networking reception celebrating VSBâ€™s Global Scholars with a welcome from Dean Maggitti, information about the Global Leadership Fellows program, and a presentation from Nancy Dudak, Career Center Director, on how to leverage your international experience in a competitive global market. Students shared personal experiences from their recent study abroad experiences and provided advice for the outgoing Global Citizens students. Additionally, several Global Leadership Fellows had an opportunity to meet their mentor, a member of CGLâ€™s Advisory Council, for the first time. Developing Business Leaders for a Better World. TM 29 Within the Center: Stakeholders, Partners and Supporters CGL SUPPORTS RILA Logistics Conference Thanks to a nomination and support by CGL Advisory Council member, Anthony Chiarello ’77 LAS, this past winter, Michael Prencipe ’14 VSB participated in the Retail Industry Leaders Association’s (RILA) Student Scholarship Program, conducting a research project with other students from across the US on the topic, “Incorporating Technology and Social Media into the Supply Chain.” The results of the research were presented at the Future Retail Leaders session at the RILA’s 2013 Logistics Conference in Orlando, Florida. The team of eight students worked remotely for five months, meeting for the first time at Gaylord Palms Resort in Orlando. The group of students included: Michael Prencipe, Villanova School of Business; Ryan Clark, Auburn University; Colleen Darby, Missouri State University; Josh MacIntyre, St. Francis Xavier University; Leslie Peng, USC; Patricia Dumeny, NJIT; Jeffrey Herman, Shippensburg University; and Samantha Darnell from the University of Texas. After collaborating for months through different platforms of communication, Prencipe commented, “meeting my teammates for the first time two days before our exhibition was exciting and seamless as we felt we had known each other for so long.” The group project was based on original research, examining the findings of how consumer use of social media has shifted purchasing decisions and how that has affected supply chain operations. In their presentation, the students also discussed the methods of social media that retail companies currently use or will be able to use in their supply chain operations and how these technologies have impacted logistics. The presentation took place in front of a large audience of conference attendees who had the chance to follow up with questions regarding the topic. The conference participants included logistics and retail industry directors, managers and executives that were curious to see how social media is relevant in their industries and how their company could implement ideas and uses of technology into their supply chain operations. Prencipe concluded, “Taking part in the conference was surreal as I felt integrated with this professional environment and the upper-level executives that attended and participated at the conference. My experience at the conference was overwhelmingly exciting as I had the opportunity to present new knowledge of the retail industry to experts who have worked in this area for many years. My group and I were praised by the professionals on our research project, and they were very appreciative of our informative work. Participating at the RILA conference is one I am greatly thankful for as I had the chance to collaborate with some of the brightest students in the operations field of study, as well as meet fantastic professionals, who enjoyed my work and my presence.” Michael Prencipe ’14 VSB, second from left, with fellow teammates. 30 Within the Center: Stakeholders, Partners and Supporters CGL ANNOUNCES Rammrath Global Scholars The Herbert G. Rammrath Endowed Fund for Global Initiatives and International Scholarships in the Villanova School of Business provides financial resources to support global programs and underwrite student scholarships. Scholarships support international students attending Villanova as well as Villanova students’ participation in a study abroad experience. CGL oversees and administers this fund and is grateful for the generous philanthropy of Mr. Herb Rammrath ’57 VSB. This year, the scholarship supported four international students from Bolivia, Costa Rica, Vietnam and Nepal, ten summer study abroad programs with embedded internships in Shanghai, Madrid and London, and 12 semester study abroad programs in China, Chile, Italy, Brazil, Spain and Argentina. Once a year, Mr. Rammrath travels to campus to meet with the students to personally engage them in conversation about their international experiences. The students, in turn, are eager to discuss these transformative experiences and to thank their donor. STUDENT PROFILES International Scholar Suraj Poudel ’16 VSB is from Nepal and plans to major in Economics and Management, with a minor in Entrepreneurship. Suraj can speak and write Nepali, English and Hindi. His arrival at Villanova is the culmination of years of hard work. Here he hopes to gain the knowledge necessary to start his own business in the future, bring development back to Nepal and to make his parents proud. He considers coming to the US as a lifetime opportunity, and he enjoys the diverse culture and lifestyle in America. He believes that he can experience growth in all aspects of his life, from academics to travelling, playing soccer, rafting, making international friends and he hopes to Herb Rammrath ’57 VSB, third from the left, pictured with scholarship recipients. be able to top it all off with a year abroad in his junior year. Study Abroad Recipient Nicholas Meusch ’15 VSB from Atkinson, Nebraska and is majoring in Finance with a minor in Mathematics. Coming from a small town to Villanova has increased his perspective. Looking to an international level, Nicholas chose to do a summer abroad in Brazil. There he discovered a new passion for the Portuguese language and Brazilian culture. Nicholas is excited to return to Florianopolis, Brazil, for an entire semester. In Brazil, he hopes to increase his speaking and comprehension abilities and further his knowledge of the culture. With the interconnectedness of the world, Nicholas believes that these skills will be crucial to his future career. Developing Business Leaders for a Better World. TM 31 Within the Center: Stakeholders, Partners and Supporters VSB AWARDS RON Cruise INternational Fellowships in memory of Sergey Kuzminykh CGL Advisory Council Member Ron Cruse ’77 LAS continues to generously support international fellowships in memory of Sergey Kuzminykh, a close colleague and friend. This University-wide program annually awards fellowships for undergraduate student involvement in non-traditional global study and experience. These awards are intended to support compelling, unique and potentially transformative experiences outside of the US, preferably involving business or other organizations. There is a strong preference for destinations in the developing and emerging regions of the world. Students must be nominated by a departmental chairperson or center director to qualify, and the program is administered by CGL. This year’s recipients include twins, Thomas ’14 LAS and Elizabeth ’14 LAS Morris. Thomas Morris is pursuing degrees in Art History and Honors as well as minors in Theology and Humanities. Tom received the Villanova Undergraduate Research Fellowship in the summer of 2012 to research radical art in Czechoslovakia under the socialist regime of the USSR. Tom spent the fall of 2012 as a Connelly-Delouvrier Scholar studying abroad in Prague in the Czech Republic, where he continued his work, now focusing on socialist realism. Tom recently presented a project titled “The Problem of Reality in Representational Art” at the National Conference on Undergraduate Research. He is planning on studying the art of curation while in Prague over the summer. Tom plans on getting a PhD in psychology and wants to be a clinical therapist. Elizabeth Morris is an art history major from Havertown, Pennsylvania. This summer, she will be interning at the US Department of State’s Bureau of Western Hemisphere Affairs in the US embassy in Paramaribo, Suriname. During the fall of 2012, Liz studied Dutch culture and art at the University of Amsterdam as a Connelly-Delouvrier International Scholar. In addition to studying Dutch language abroad, Liz studies Arabic at Villanova. She has had leadership roles in Hunger and Homelessness Awareness Week, was a student in the Sophomore Service Learning Community and volunteers at the Academy of Natural Science in Philadelphia. Liz plans to pursue graduate studies in Library Science and eventually hopes to work as a research librarian, practicing information sciences in a global context. (Left to right) Elizabeth Morris ’14 LAS, Thomas Morris ’14 LAS, Ron Cruse ’77 LAS and 2012 winner Casey Richards ’13 LAS. 32 Within the Center: Stakeholders, Partners and Supporters Pay it Forward International Service Scholarship ESTABLISHED The Center for Global Leadership is pleased to announce a new scholarship awarded to VSB students who will participate in an international service trip during semester break or over the summer. Applications are accepted on a rolling basis and should only be submitted after participation in the program is confirmed. The goal of this scholarship is to create a sustainable stream of financial resources to support students with an interest in international service projects. An agreement has been established with scholarship recipients for a commitment to sponsor future applicants, and the funding will support travel and in-country expenses for the service project. Regular correspondence will create a network of international service program alumni that can follow the progress of the students funded and offers continued engagement opportunities with the projects as well. Preference will be given to students demonstrating greatest financial need, and applicants must be admitted to the program and have a 3.0 GPA. Grants are awarded only once to an individual student during their time at Villanova and a 1,000 word reflection paper about the experience will be due two weeks after the program is completed. The paper is in the spirit of St. Augustine, asking students to write about how the international service trip affected their minds and their hearts. The first recipient of this scholarship is Kaitlyn Dormer ’14 VSB. She is pursuing majors in Marketing and International Business, as well as a minor in Latin American Studies. During the Fall 2012 semester she studied development in Argentina and completed an independent research project in which she investigated the economic impact of running water in an urban slum in Buenos Aires. With the understanding that water is a critical part of international development, Kaitlyn continued her work through an interdisciplinary management, engineering and geography class, International Technology and Sustainability. The course is based on the improvement of a gravity-driven water system in a rural region of eastern Panama. With the funding from the CGL “Pay it Forward” International Service Scholarship, Kaitlyn traveled over Spring Break with other students to the project site to better understand the community needs and to build and expand a system that is sustainable and scalable. Kaitlyn plans to continue to study the theme of water and development and to find a career path in which she can utilize her business education to improve access to this necessary resource around the world. Kaitlyn Dormer ’14 VSB. Developing Business Leaders for a Better World. TM 33 Within the Center: Stakeholders, Partners and Supporters Center Leadership The Center for Global Leadership is led by a Faculty Director, Director, Associate Faculty Director and Program Coordinator. The Center is guided by a diverse Advisory Council of experienced professionals with extensive global leadership experiences. LEADERSHIP STAFF • Jonathan P. Doh, PhD Faculty Director • Kim Cahill Director •K enneth Taylor, PhD Associate Faculty Director •S haron Ballard Program Coordinator CGL WELCOMES NEW ADVISORY COUNCIL MEMBERS Deborah Affonsa ’89 VSB, Vice President, Corporate Strategy, Pacific Gas & Electric Company Charlie Crew ’73 VSB, President & CEO (Retired), SABIC Innovative Plastics Arlene Driscoll ’82 VSB, Director, Pershing, a BNY Mellon Company Brian Scanlon ’94 VSB, Partner, McKinsey & Company Kerry A. White ’86 VSB, Managing Director, Global Director of New Product Commercialization, BNY Mellon Asset Servicing Advisory Council Thanks Departing MemberS We would like to thank the following Advisory Council members for their work and dedication: Ron Cruse ’77 LAS, President, Logenix International, Inc.; Author, Lies, Bribes & Peril: Lessons for the REAL Challenges of International Business Jim DeBlasio ’77 VSB, Chief Executive Officer, NOVA Corporate Strategies Ron Steger ’76 VSB, Partner-in-Charge, Global Semiconductor Industry Practice, KPMG LLP Wayne Withrow ’77 VSB, ’83 VLS, Executive Vice President, SEI Investments Gracias, Merci, Danke, Xie-Xie, Shokran, Grazie 34 Within the Center: Stakeholders, Partners and Supporters Advisory Council Members Deborah T. Affonsa ’89 VSB Vice President, Corporate Strategy Pacific Gas & Electric Company Jeffrey (Jeff) Leventry, Esq, ’84 VLS Senior Vice President Learning and Development Willis Re Inc. Aurelio A. Barria ’73 VSB Executive Vice President Motta-Internacional S.A. Michael (Mike) Malloy ’89 VSB Audit Partner, Deloitte & Touche LLP James (Jim) Burke ’87 VSB President, Sterling Information Systems, US Wen Mao, PhD Chair, Economics Department Villanova School of Business Kimberly (Kim) Cahill Director, Center for Global Leadership Villanova School of Business Rohit (Ro) Mehrotra Vice President Private Wealth Management Group J.P. Morgan Chase & Co. Anthony Chiarello ’77 LAS President and CEO, TOTE, Inc. Paul M. Colonna ’90 VSB President & Chief Investment Officer Fixed Income, GE Asset Management Manuel (Manny) Nunez ’03 VSB Director of External and Government Affairs Inter-American Foundation Charles (Charlie) Crew ’73 VSB President & CEO (Retired) SABIC Innovative Plastics Walter Owens ’82 VSB Managing Partner, Davis Hill Capital, LLC Michael Petrane ’93 VSB Partner, Assurance Services, Ernst & Young LLP Ronald (Ron) S. Cruse ’77 LAS President and CEO, Logenix International Brian L. Scanlon ’94 VSB Partner, McKinsey & Company James (Jim) DeBlasio ’77 VSB Chief Executive Officer NOVA Corporate Strategies William (Bill) Shockley ’83 VSB Partner, Tinicum Capital Partners Anthony Dellomo ’65 VSB Vice President Commercial Credit (Retired) Citigroup Richard (Rick) Smith Senior Lecturer Singapore Management University Stephen DeRose ’76 VSB Vice President (Retired), Global Consumer Development Excellence Unilever United States, Inc. Francis (Frank) Sweeney ’73 VSB President, TDK USA Stephen (Steve) Szapor ’82 VSB President, The Innovation Group Jonathan P. Doh, PhD Faculty Director, Center for Global Leadership Rammrath Chair in International Business Villanova School of Business Kenneth (Ken) Taylor, PhD Associate Faculty Director, Center for Global Leadership; Assistant Professor, Department of Economics, Villanova School of Business Arlene Driscoll ’82 VSB Director, Pershing BNY Mellon Company Ricaurte (Catin) Vasquez-Morales ’73 VSB CEO, General Electric Central America/ Caribbean Richard (Rich) Heintzelman ’81 VSB Executive Vice President and Head of Commercial Wallenius Wilhelmsen Logistics America Kerry White ’86 VSB Global Director, Strategic Product Delivery and Commercialization BNY Mellon Thomas (Tom) Henry ’81 VSB, ’92 VLS Partner, Credit and Incentives Network PricewaterhouseCoopers LLP Wayne Withrow ’77 VSB ’83 VLS Executive Vice President SEI Investments TM Developing Business Leaders for a Better World. 35 Within the Center: Stakeholders, Partners and Supporters Associate Council Members Meredith Altenhofen ’11 VSB Product Analyst Global Strategic Partnerships Visa, Inc. Kaitlyn Mincer ’07 VSB Senior Auditor The Vanguard Guard Group, Inc. Carlos Pradera ’10 VSB Finance Manager New Equipment Business Rolls-Royce Brasil Ltda| Divisão Energia The center would like to thank its donors for their generous funding support: • Deborah T. Affonsa ’89 VSB • Mary V. & Herbert F. Aspbury • James P. Burke ’87 VSB • Anthony ’77 LAS & Chris Chiarello • Paul Colonna ’90 VSB • Charles Crew ’73 VSB • Ronald S. Cruse ’77 LAS • James P. & Lisa W. DeBlasio ’77 VSB • Joseph Delaney ’85 VSB • Anthony Dellomo ’65 VSB • Stephen DeRose ’76 VSB • Jonathan P. Doh • Arlene Driscoll ’82 VSB • Richard Heintzelman ’81 VSB • Thomas Henry ’81 VSB, ’92 VLS • Sheila ’83 VSB & Henry ’80 VSB Klehm • Jeffrey C. Leventry ’84 VLS • Kenneth Marshall ’63 VSB •M ichael B. ’89 VSB & Joan E. ’89 VSB Malloy • Gregory Mancini ’95 VSB •R ohit Mehrotra and Manishi Prasad • Manuel Nunez ’03 VSB • Walter Owens ’82 VSB • Michael Petrane ’93 VSB • Herbert G. Rammrath ’57 VSB • Brian Scanlon ’94 VSB • William Shockley ’83 VSB • Richard Smith Center Financial Sponsors • Ronald ’76 VSB & Janice Steger • Stephen A. Stumpf and Maria Arnone • Francis Sweeney ’73 VSB • Stephen J. Szapor ’82 VSB • Ricaurte V. Vasquez-Morales ’73 VSB • Kerry White ’86 VSB • Wayne M. Withrow Jr. ’77 VSB, ’83 VLS • Deloitte Foundation • Ernst & Young • GE Foundation • KPMG Foundation • Orange County United Way • PricewaterhouseCoopers Foundation • Unilever United States, Inc. • An Anonymous Donor 36 Villanova University 800 Lancaster Avenue Villanova PA 19085 www.villanova.edu