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WINTER 2006

STRIVING FOR A BALANCE Beta Gamma Sigma Examines the Work-Life Dilemma

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what’s inside 2

A Message from the BGS President

Letters to the Editor

Striving For a Balance; Beta Gamma Sigma Examines the Work-Life Dilemma

Elder Care

Vacation?! The Overworking of America

Overworked in America; A Look at WorkLife Trends and Their Impact on the Workforce

Bridging the Divide

EBL in Action; AACSB and the “Peace Through Commerce” Initiative

Gifts from Friends

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BGS INTERNATIONAL EXCHANGE Beta Gamma Sigma 125 Weldon Parkway Maryland Heights, MO 63043-3101

WINTER 2006 Volume 5, No. 4 Circulation: 101,264

email: bgshonors@betagammasigma.org phone: 314-432-5650 website: www.betagammasigma.org If you have any questions or comments about this issue of the BGS International Exchange, please forward them to exchange@betagammasigma.org. Beta Gamma Sigma is a not-for-proﬁt, 501(c)(3) organization.

BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 1

“Success is not to be measured by income but by influence, not by power but by personality, not by capital but by character.” Stephen W. Gilman, one of three professors who founded Beta Gamma Sigma at the University of Wisconsin

eta Gamma Sigma has used the quote above at various times on posters, promotional materials and t-shirts. It’s a very nice quote, and it struck me that it fits very well with Beta Gamma Sigma’s promotion of Ethical Business Leadership. I am especially impressed by Prof. Gilman’s inclusion of “…not by capital but by character.” This is practically a working definition of Ethical Business Leadership, and shows the foresight of a man who wrote these words around 1910. I was very pleased that many members responded positively to the Fall 2006 issue of the BGS International Exchange, which announced Ethical Business Leadership as a new Beta Gamma Sigma initiative. Some of those comments can be found on Page 3. Be assured that we are working on many different avenues to make Ethical Business Leadership part of what we do as an honor society.

A MESSAGE FROM THE BGS PRESIDENT

John Wholihan, President of Beta Gamma Sigma

In my position as Dean of the College of Business Administration at Loyola Marymount University, I regularly see the value of Beta Gamma Sigma in our students. The best students of business – who are inducted into the honor society – become the leaders on campus and off. Those who are just beginning their academic careers look up to the top scholars and faculty and make Beta Gamma Sigma membership an important goal to be achieved. Our collegiate chapter regularly participates in the Beta Gamma Sigma Scholarship Program. This program rewards both the school and the individual receiving the award. The school must exceed certain standards to qualify for participation in the program (must be named an Exemplary or Premier Chapter), and the student obviously benefits by the scholarship, which

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must be utilized for future study. Beta Gamma Sigma has awarded more than $1.1 million through its Scholarship Program since 1988, so the generous gifts recognized on Page 16 of this publication are greatly appreciated. At the time of this writing, I am making preparations to join approximately 90 students in Coral Springs, Fla., for the Fall 2006 BGS Student Leadership Forum. I have attended several of these events in the past, and as a longtime member of the Board of Governors, it is great to interact with our future business leaders. This program, which has grown and improved over the years, offers a reminder to me and other Board members attending of the value of Beta Gamma Sigma membership and the quality of those achieving it. I would like to personally thank our BGS sponsors and the business schools that support the travel of their students to the Forum. These special students are well worth the investment. Recently I was able to attend a Los Angeles Area Alumni Chapter Networking Event – they called it a “Beta Bash.” This was a very nice event held in Santa Monica. And, of course, the highlight was meeting and discussing Beta Gamma Sigma with many lifetime members who have joined the alumni chapter in Los Angeles. I was lucky enough to be involved in the expansion of the Alumni Network Program in the 1990s, and I encourage all members who live in alumni chapter areas to get involved. What better way to stay connected with “the best in business” than to become a member of your local chapter? As president of Beta Gamma Sigma, I am very proud of our many initiatives and the accomplishments of our lifetime members. I believe that if we work together, the future is very bright for our Society and our membership. I am counting on your support to help us reach unprecedented heights as we approach our 100th anniversary in 2013. I am more certain than ever that Beta Gamma Sigma’s best days lie ahead.

I’m a long term (1948) BGS member from the University of Chicago. I have been disturbed by the lousy ethics of so many in business in recent years. I fear for the ethical outlook of our younger business leaders and for the values we were taught to hold dear. The move by the Society is very welcome and I wholeheartedly approve the decision of the Board to proceed with the Ethical Business Leadership Program. I have been a long time shareholder of Charles Schwab – the man and his company. I would like to recommend that BGS take a look at Schwab and the issue of ethics in the company that bears his name... Bill Story (BGS 1948, University of Chicago) Dear Dr. Wholihan and Staff: It is most heartening to sense from the fall (magazine) issue of Beta Gamma Sigma, the new initiative being directed toward “Ethical Business Leadership.” Clearly this is an area that has long been neglected by the business community – and it is so basic to all aspects of business and meaningful successful living. You have our full support… Robert B. Eagleston (BGS 1936, Northwestern University) Thank you for your focus on Ethical Business Leadership in the Fall 2006 edition of Exchange. I was drawn to it as I believe many of our leaders (in business and politics) have lost their ethical compass. Clinton Koker, CEO Koker Goodwin & Associates (BGS 1974, Wichita State University) All three articles focusing on ethical business leadership are timely and I plan to use these as fodder for dialogue this spring in my Business and Society course. Thanks. Prof. Max E. Douglas Indiana State University (BGS 1981, Indiana State University)

I support and encourage your efforts in developing an initiative in the improvement of ethical behavior in leadership. However, I believe that the focus is too narrow. It should be expanded to incorporate the ethics of leadership in colleges and universities. How can we anticipate that our students will exhibit ethical behavior when we have the former president of Texas Southern University under indictment for misappropriation of university funds? How can educators stop plagiarism when there has been a plagiarism travesty that has persisted at Ohio University for years? There are numerous examples available in publications such as the Chronicle of Higher Education and our personal experience. Yet, we in academics continue to ignore the lack of ethical leadership in education. Of course, not all academic institutions exhibit these ethical lapses. However, very few of our businesses exhibit the ethical lapses of the Enrons et al. If you are serious about changing behavior, it would be a serious educational lapse not to look at academic as well as corporate leadership. Thomas F. Urban (BGS 1972, Indiana University) Beta Gamma Sigma response: BGS has as its long-term partner AACSB International, which is the premier accrediting organization for the world’s business schools. AACSB has taken on Business Ethics Education as one of its initiatives. You can access AACSB’s Ethics Education Resource Center online at www.aacsb.edu/resource_centers/ethicsedu/ default.asp to find out more. This issue of International Exchange focused on ethics was truly outstanding. As I read it, I was watching the HP fiasco being described to Congress. In particular, the interview of Dr. Kidder brought out the universality of core values. Our society has gradually moved away from these values over time assisted by many examples in our entertainment. Before we can repair the situation, it needs to be recognized as a problem. The lack of ethical behavior by power brokers in society has become so pervasive, that it’s no longer recognized as being immoral. Thanks to BGS for lighting a candle so that we can begin to see. Melvin M. Turcanik (BGS 1983, DePaul University)

What do you think about this issue of the International Exchange? Send your letters and comments to the editor:

exchange@betagammasigma.org BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 3

STRIVING FOR A BALANCE

BETA GAMMA SIGMA EXAMINES THE WORK-LIFE DILEMMA

hroughout history, the business world has struggled with the competing demands of worker productivity and employees’ needs to deal with life issues for themselves and their families. While employment realities require individuals to give up some percentage of their “free time” to accomplish assigned tasks, many workers today insist on a better balance than the norms of the past. The most successful companies have found ways to keep their best employees working, while at the same time allowing – even encouraging – them to find the right balance to make the most of their lives outside of the office. A few years ago, flexible scheduling was a critical breakthrough in the struggles of companies dealing with work/life/family issues. Human resource professionals worked to develop policies and procedures that would enable key employees to meet both their family and employment obligations. Since then flexible schedules have become the norm (74 percent of all businesses offer flexible work options, according to the Hewlitt Associates Work/Life survey, 200304). With recent studies showing that less than 7 percent of households with children include a stay-at-home parent, there is tremendous pressure for both men and women to meet obligations outside the office.

“There is a huge reluctance – a fear of backlash from others, a fear of falling off the career ladder – because you might be utilizing these (flexible) programs.” - Jennifer Sabatini Fraone, Boston College Center for Work & Family In the Families and Work Institute’s 2005 National Study of Employers (NSE), workplace flexibility is defined as allowing employees to: 1) periodically change starting and quitting times, 2) change starting and quitting times daily, 3) move between full-time and part-time work in the same position, 4) share jobs, 5) compress their workweek, 6) work at home or off-site on a regular basis, and 7) return to work gradually after childbirth. Between 1998 and 2005, the NSE concludes that in none of the seven areas was there a decrease in the use of flexibility in America’s workplaces. In fact, there have been significant increases in the areas of compressed workweeks and daily flextime. Jennifer Sabatini Fraone (BGS Boston College, 2005), marketing associate for the Boston College Center for Work & Family, said “flexibility” is a very generic term. She said while three-fourths of employers offer some sort of flexibility, the really good ones think about it in a variety of ways.

“You can say that you’re flexible, but if you don’t go down the list and say, ‘Yes, we offer this, and we offer telecommuting, and also this,’ and so on, then it may not mean the same thing to each employer,” Fraone said. “One company may offer just one of them while others may offer all of them. “And certainly, the best companies for working mothers, all of them would have flexible work arrangements.” Does management support those working toward flexible arrangements? According to the NSE, while 63 percent of employers say supervisors are encouraged to be supportive of employees with family needs and find solutions that work for both sides, those same supervisors are not generally recognized for their efforts. Only 31 percent reported that management rewards those within the organization who support flexible work arrangements. Continued on Next Page

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STRIVING FOR A BALANCE (Cont. from page 5)

In addition, there are some cultural issues that restrict flexibility programs. Employees may avoid flexible programs because they feel (rightly or wrongly) that it will negatively impact their performance reviews. Also, some employees may feel (again, rightly or wrongly) that their supervisors view their requests for flexible work schedules as having low motivation or little

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commitment to the job. There may even be some colleagues that look down on those requesting flexible scheduling options. For managers, some find it difficult to grant any flexible options because workers in certain jobs do not qualify for the program. In that case, it’s easier to say “no” to everyone. Other managers may be concerned about a reduced level of output from workers who are not “on-site” 100 percent of the time. And many managers, overburdened by their own responsibilities, fear that extra work not completed by flex employees will fall to them. Fraone said these are all legitimate concerns, and the company’s culture must be such that flexible scheduling options are valued and encouraged. “There is a huge reluctance – a fear of backlash from others, a fear of falling off the career ladder – because you might be utilizing these programs,” she said. “That’s why the culture and the support of these programs, from the CEO down to the line managers, is so important. If the programs are on the books and the policies are out there, but people don’t feel comfortable taking advantage of them because there might be repercussions, then they’re not going to use them. So, why have the policies at all? There really must be that culture of support.” When work/family issues originally gained public attention, the plight of women returning to the work world after having children was the greatest issue. For employees with families, quality childcare continues to be a tremendous problem. Often, childcare resources do not match work hours, and if there is an unexpected need – such as a sick child or school closing – parents may have no option but to take the day off. This inevitably results in scheduling problems for the employer, which must cover the employee’s responsibilities for the day, and can result in a “black mark” on the employee’s record. Some employers are able to offer on- or nearsite childcare, dependent care assistance, and other programs. In addition, many companies offer flexible scheduling to deal with the lack of childcare and the last-minute problems that pop up unexpectedly. These are very important to many families. An area that will continue to rise in America’s consciousness as the population grows older is elder care assistance. In the 2002 National Study of the Changing Workforce, it was reported that 35 percent of employees have responsibilities for the care of elderly relatives. The NSE identified “providing information about elder care resources” as the only widespread initiative aimed at this need. “As the workforce is aging, with baby-boomers

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making up a huge part of the workforce, so many of them are dealing with care of their parents,” Fraone said. “We are looking at how those unique family demands impact their ability to focus at work while also meeting the needs of their family members. It has become a huge struggle.” According to National Alliance for Caregiving and the AARP, in 2004 more than 33 million adults – representing 16 percent of the U.S. population and 35 percent of the workforce – provide unpaid care to adults aged 50 and up. To make matters worse, some recent estimates say that 13 percent of households with one or more people aged 30 to 60 are dual-earner, “sandwiched generation” households. This term refers to those who simultaneously care for elderly parents and children 18 years old or younger. Fraone said companies should consider new ways to help their employees in these situations. “The employers we work with are trying to be ahead of the curve in trying to meet these needs,” she said. “They know that if their employees have concerns about their loved ones, it will be much more difficult for them to be productive and focused at work.” Fraone said employers that help their people stabilize these issues will be rewarded with more loyal and productive employees in the long run. Once again, Fraone said the “organizational culture” is the key. “You can have any policies and programs on the

G L O B A L

B U S I N E S S

L E A D E R S

books, but if your organizational culture doesn’t provide support and people don’t feel comfortable, they won’t take advantage of the policies that are available,” she said. “So it really has to do with the organization feeling that their employees are their most valuable resource and that they will make the effort to ensure their employees are doing well – balancing their home as well as work lives.” Fraone pointed out that she not only works with companies as they struggle with work/life issues, she lives it in her daily life as well. “I’m living this right now, and everyone at the Center really practices what they preach,” she said. “When we talk about the culture of supporting people’s work-life balance, it is really alive here. “I have two kids. I work about 20 hours a week here at the Center – I usually do two days in the office and then half a day from home. I’m living the juggling, balancing act all the time!”

What did you think about this article? Share your feedback with BGS: exchange@betagammasigma.org

BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 7

ELDER CARE

“As the workforce is aging, with baby-boomers making up a huge part of the workforce, so many of them are dealing with care of their parents.” - Jennifer Sabatini Fraone, Boston College Center for Work & Family

The Scope of the Issue •

• • • •

70 percent of employers report increases in caregiving-related staffing problems in the past 10 years. Taking care of older relatives often means increased absenteeism, workday disruptions, stress leading to high-risk health outcomes, replacement and turnover costs. Today’s older population of more than 35 million Americans will increase to over 70 million by 2030. One out of every four households is involved in providing help to an older person. The segment of the older population most likely to need care – those over 85 – is the fastest growing segment of older adults today. Family and friends provide 80 percent of all the care received by older adults. One in eight employees are elder caregivers.

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Employer-based Solutions •

• • • • • • • • •

Seminar series/brown bag lectures on some of the pertinent issues: home care or older adult care services, housing, long distance resources, transportation, legal, financial and health insurance information Caregiver support group Special consultations and counseling for employees on-site (Geriatric Care Manager) Elder Care Resource Fairs on-site Provide employees with one phone number; onestop shopping for resources (example 1-800-AGEINFO in Massachusetts) EAP/Resource & Referral (financial, legal and onsite) Flexible work arrangements (telecommuting, others) Pre-paid legal Long-term care insurance Encourage proactive planning while aging loved one is still healthy and living independently

Source: Boston College Center for Work & Family

Vacation. When someone says, “I’m going on vacation,” she doesn’t usually do it with a frown on her face. When a man says, “I don’t have any vacation left,” it’s usually clear that he wishes the opposite were true. Getting away from the working world can be reinvigorating, allowing employees to “recharge their batteries” so that when they return, they will be at their peak level of performance.

VACATION?! The Overworking of America

o why are so many Americans, who often describe themselves as “overworked” using less of their vacation time or skipping it altogether? Overwork can be hard to define, and in fact is a completely different situation for each individual. While one employee can be energized and challenged by working 14-hour days, seven-days-a-week while preparing for an important project, others on the team will find that schedule daunting and draining. While some will attain maximum production from a traditional five-day, eight-hour workweek, others find that structure boring and restrictive. A few facts to consider: The World Health Organization reported that by 2020, clinical depression would be second only to heart disease and outrank cancer and all other causes of death and disability. The study said overwork was a leading cause of clinical depression. In a 1999 study titled Ask the Children, when asked their one wish to improve how their mothers’ and fathers’ work affected their lives, most children responded that they wished mom and dad would be less stressed and less tired. In a 2001 study, Families and Work Institute found that one in three U.S. employees experienced feeling overworked as a “chronic condition.” Workers in the United States traditionally receive fewer paid vacation days than their counterparts in Europe, but recent studies show Americans are often not using the days they do have available. In a May 2006 Gallup Poll, more than 60 percent of respondents did not have any vacation plans for the next six months, the highest in 28 years. And this, even though American workers average more than 16 paid vacation days per year. In a recent New York Times article, Ellen Galinsky, president of the Families and Work Institute, said that it’s usually not management or supervisors that keep us from using our vacation time. “Mostly people work because they want to,” she

��

Continued on Next Page BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 9

VACATION?! (Cont. from page 9)

said. “It’s mostly something we’re doing to ourselves.” In a follow-up study, the Families and Work Institute wanted to identify how the ways we work today and how we prioritize our lives on and off the job are related to being overworked. “There is no question that work demands are continuing to escalate and many Americans have too much work to do – although it must be said that some Americans would say they have too little work to do,” said the authors of the follow-up 2004 study. “For those with too much to do, the ‘Overwork in America’ study found that the very skills that are fundamental to succeeding in this global economy – specifically, moving quickly from task to task with little time for recovery in between, facing many interruptions, and working outside normal work hours, including vacations – can be useful but also can be detrimental. For a significant group of Americans, the way we work appears to negatively affect their health and effectiveness of work.” A survey by Steelcase, a Michigan office-furniture manufacturer, found that 43 percent of respondents say they work on vacation days. That number is a large increase from the 23 percent that took their jobs along on vacations in 1995. A recent (2006) survey by Expedia. com and Harris Interactive found that 23 percent of American adults have checked work email or voice mail while vacationing, compared with only 16 percent in 2005. That’s a 44 percent increase in the last year alone!

OVERWORKED IN AMERICA A Look at Work-Life Trends and Their Impact on the Workforce The more overworked employees are: • More likely to make mistakes at work. 20 percent of employees reporting high overwork levels say they make a lot of mistakes at work versus none (0 percent) of those who experience low overwork levels.

• More likely to feel anger toward their employers. 39 percent of employees with high overwork levels versus only 1 percent with low overwork levels report that they feel very angry toward their employers.

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• More likely to resent coworkers who don’t work as hard as they do. 34 percent of high overwork employees versus only 12 percent of low overwork employees say they often or very often resent their coworkers.

Demographic Information:

• Women are somewhat more overworked than men • Members of the babyboomer generation feel more overworked than employees from other generations. Boomers work longer hours on average, are more likely to desire fewer work hours, frequently experience interruptions at work, more often have elder care responsibilities, and have higher average salaries. • Surprisingly, having children under 18 or having more than one child does not translate into feeling more overworked. • Parents with teenagers feel more overworked than parents of other-aged children. • Employees with elder care responsibilities tend to be more overworked than those without.

Length of Vacations:

• 37 percent take less than a 7-day vacation, including weekends; • 49 percent take a 7- to 13-day vacation; • 14 percent take a vacation of 14 days or more.

Working While On Vacation:

• 58 percent never do work related to their jobs; • 21 percent rarely do work; • 12 percent work sometimes; • 9 percent work often or very often.

Suggestions:

• Focus – There should be a balance between times when employees can concentrate on the task at hand and when they are multi-tasking and being interrupted.

• Job Pressure – Again, there should be a balance between the kind of pressure that energizes employees and fosters the development of new competencies and the kind of pressure that depletes them. Setting more realistic deadlines may be part of the solution. • Low-Value Work – Work teams need to discuss and define the work they do that is highpriority and the work they do that is low-value. They can then find ways to change or drop low-value work so their time and energy spent is more efficient. • Accessibility – Work teams need to discuss how accessible they need to be to each other outside normal work hours. Then set parameters around when it is important to contact each other and when it isn’t.

• Working While On Vacation – Employers should encourage their employees to take their vacations and to take them in longer stretches if possible. Better delegation of tasks of vacationing employees can help avoid the “piling up” of work that happens while employees are away.

Statistics taken from the study “Overwork in America: When the Way We Work Becomes Too Much” conducted by the Families and Work Institute, 2005

What did you think about this article? Share your feedback with BGS: exchange@betagammasigma.org

BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 11

OVERWORKED IN AMERICA Diﬀerence in Employee Performance and A�itudes by Level of Work Overload EMPLOYEES REPORTING THAT THEY FEEL RESENTMENT TOWARD COWORKERS

EMPLOYEES REPORTING THAT THEY FEEL ANGER TOWARD EMPLOYER

EMPLOYEES REPORTING THAT THEY ARE LIKELY TO MAKE MISTAKES

39%

35 30

34%

25 20

20%

15 10

12%

0 Employees Reporting High Overwork Levels

Employees Reporting Low Overwork Levels

Average Length of U.S. Vacations (Consecutive Days Taken)

14 Days or More 14% Less than 7 Days 37% 7 to 13 Days 49%

Statistics taken from the study “Overwork in America: When the Way We Work Becomes Too Much” conducted by the Families and Work Institute, 2005 12 BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG

BRIDGING THE DIVIDE

TEMPLE

THE FOX SCHOOL | Executive MBA & Professional MBA

happy employee is a productive employee, or so the adage goes. It logically follows that the happier an employee is with the status of his or her work/life/family balance, the more productive he or she is within the workplace. As such, it is incumbent upon business managers to find ways to make their workplaces more enjoyable for employees to spend their day-to-day lives. By not doing so, organizations run the risk of decreased productivity and profitability, and worse, the loss of key personnel. In terms of the rift that exists between their employee’s personal and professional lives, forward thinking is often required to bridge the gap. That said, here are a few specific actions recommended by MRINetwork.com that HR managers can take to improve the work/family balance of their employees:

Helping working professionals in the Philadelphia Region take their career to the next level. The Fox Executive MBA ranked 17th in the U.S. by Financial Times, 2006 www.fox.temple.edu

• First, communicate clearly about current workfamily practices and policies that already exist. • Make managers and supervisors more sensitive to work-family issues. Make sure they understand company policies relating to these issues. • Incorporate work-family topics into training. Give employees the time they need for family Less Than 7• Days

responsibilities by using schedule innovations – part-time work, flexible work arrangements, 7 to 13 Days telecommuting.

Miss an issue? Back issues of the BGS International Exchange are available on BetaNet.

• Re-examine your organization’s career planning process in light of work-family responsibilities.

14 Days or More

• Exercise leadership in the community to improve the availability of quality childcare. Some companies have even been instrumental in helping to create near-site childcare centers and in providing seed money for after-school and summer programs.

www.betagammasigma.org/bgsie.htm

• Solicit the participation of other businesses, government agencies and community organizations to address childcare programs.

What does your workplace do to help bridge the work/life divide? Let Beta Gamma Sigma know:

exchange@betagammasigma.org BGS INTERNATIONAL EXCHANGE WINTER 2006 WWW.BETAGAMMASIGMA.ORG 13

AACSB International and the “Peace Through Commerce” Initiative

membership in the Society through their study at one of eta Gamma Sigma’s new initiative, Ethical Business these fine institutions. Leadership, was introduced in the last issue of the AACSB International has enlisted the help of its BGS International Exchange (see member feedback member business schools and challenged them to join on Page 3). It is the honor society’s intent to highlight forces through the “Peace Through Commerce” initiative. individuals and organizations that are standing up and Peace Through Commerce advances a basic premise that leading ethically. We won’t shine additional light on business can be much more than a pathway to prosperity. those that display questionable ethics; instead, we would like to provide examples of how leading ethically “Schools are accepting the responsibility to use their leadership can be a smart positions to promote economic stability and, in the process, make a business decision. While not difference by encouraging good governmental practices, increasing a for-profit job creation and utilizing commercial activity to reduce conflict.” business, AACSB -John J. Fernandes, President and CEO, AACSB International International is the world’s first and largest global It can be a catalyst for world peace. business school accrediting association. Earning AACSB “Business schools in partnership with commercial accreditation is the gold standard for business schools, enterprises can bring seemingly disparate factions and every member of Beta Gamma Sigma earned lifetime

Special Thanks

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together,” said John J. Fernandes, AACSB’s president and CEO, and a member of the BGS Board of Governors. “We continually challenge our business graduates to make a socially positive impact through their organizations. Peace Through Commerce is one important way that this can be achieved – by challenging the management education community to seek innovative ways to partner with corporations and other communities to develop commercial opportunities that can bridge culture, religion and politics in achieving peace.” With a membership base of more than 1,000 member institutions in 70 countries, AACSB has begun to identify ways that its member schools are promoting commercial business activities that reduce international tension and civil strife. Current efforts focus on facilitating education and economic development in regions of the world where poor economic conditions and a lack of access to education create conditions where conflict may thrive. One especially effective effort is demonstrated by the work of three students – an Israeli-American, a Palestinian, and an American citizen who is Jewish – who put aside cultural differences to collaborate on a business plan that won a national competition. They put their plan into action by starting a business that provides micro-loans to small Palestinian owned businesses. The financial support from these loans has led to high-impact job creation programs in the West Bank and Gaza. “This is an exceptional example of how the world’s business schools can truly make a difference by creating powerful initiatives that not only represent good business practice, but also carry the Peace Through Commerce theme,” Fernandes said. “Schools are accepting the responsibility to use their leadership positions to promote economic stability and, in the process, make a difference by encouraging good governmental practices, increasing job creation and utilizing commercial activity to reduce conflict.” Leading the Peace Through Commerce initiative for AACSB International is Carolyn Woo, Dean of the Mendoza College of Business at the University of Notre Dame. “Since the first meeting of our task force in September of 2005, Peace Through Commerce has

gained momentum and new levels of support from around the world,” Woo said. “The initiative’s energy has been fueled by our collaboration with the United Nations Global Compact and other global and regional nongovernmental organizations.” Woo said that Peace Through Commerce encourages peace, cooperation, trust, respect and tolerance. “As an association of management educators we can make a difference.” Beta Gamma Sigma is committed to highlighting examples of Ethical Business Leadership to its lifetime members and the entire business community. If you have an example of Ethical Business Leadership that you’d like to share, please contact Tim Weatherby at tweatherby@betagammasigma. org or 314-432-5650.

What did you think about this article? Share your feedback with BGS: exchange@betagammasigma.org

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GENEROUS DONORS SUPPORTING BETA GAMMA SIGMA

Gifts from Friends

July 16, 2006 - October 15, 2006

Beta Gamma Sigma gratefully acknowledges the support of the following individuals, as well as the organizations listed on the back inside cover. Without this assistance, the Society would be unable to continue adding value to the lifetime membership.

Chairman’s Board $2,000 - $4,999

Dean’s Club $250 - $499

Director’s Table $1,000 - $1,999

Century Club $100 - $249

University of Washington George W. Morford

University of Pennsylvania John C. Hanson University of Virginia William J. Kehoe

President’s Cabinet $500 - $999

Eastern Illinois University Steven L. Grissom North Carolina A&T State University Bernard J. Milano

Kent State University George E. Stevens

Baruch College, CUNY Anthony K. Adjei Baylor University Robert A. Fitz Boston College James R. Kearnan University of Houston Janet E. Lancon University of Kansas Edward C. Burns Marquette University Keith O. Hanson University of Maryland Morton H. Offit New York University Henry E. Hubbe

Northwestern University Robert B. Eagleston The Ohio State University John R. Ervin Charles W. Plum University of Pennsylvania Clayton R. Jones Southern Illinois UniversityEdwardsville Deborah L. Johnston Temple University Stephen H. Morris

Memorial Gift

Northwestern University Ashok Vora The Ashok Vora Charitable Fund Vanguard Charitable Endowment Program

Matching Contributions

AIG Matching Grants Program Grace A. Laforgia Kraft Foods Kimberly A. Starke Morgan Stanley Paul J. Baeske Verizon Foundation Rosemary L. Spell

Thank You!

FOR YOUR GENEROUS SUPPORT

Connect with “The Best in Business”

BGS Career Central BGS CareerCentral is the on-line job board designed to connect the “Best in Business” with those organizations wishing to hire them. Unlike other career sites, those searching BGS CareerCentral were all top scholars from the world’s best business schools – from recent graduates to senior executives. Consider BGS CareerCentral if you’re serious about finding the best business professionals.

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GEICO could save you $500 a year on car insurance. Networking not required. Beta Gamma Sigma members could receive a special discount on GEICO car insurance. Visit geico.com for your free rate quote today, and be sure to select Beta Gamma Sigma when asked for your affiliation.

Special Member Discount GEICO offers you: • Outstanding, 24-hour service online or on the phone. • Fast, fair claim handling. • Guaranteed claim repairs at GEICO-recommended shops. To find out how much you could save, visit geico.com or call 1-800-368-2734. Average savings information based on GEICO New Policyholder Survey data through August 2005. Discount amount varies in some states. Some discounts, coverages, payment plans, and features are not available in all states or in all GEICO companies. One group discount applicable per policy. Government Employees Insurance Co. • GEICO General Insurance Co. • GEICO Indemnity Co. • GEICO Casualty Co. These companies are subsidiaries of Berkshire Hathaway Inc. GEICO auto insurance is not available in Mass. GEICO: Washington, DC 20076 © 2005 GEICO

BGS Corporate Contributors and Afﬁliates 2006 Beta Gamma Sigma thanks those organizations that generously support the Society’s programs and services afﬁliates@betagammasigma.org 800-337-4677 (US) 314-432-5650 (outside US)

Beta Level Sponsors ($50,000+) BusinessWeek

Gamma Level Sponsors ($25,000-49,999) Business 2.0 / Fortune magazines GEICO

Sigma Level Sponsors ($20,000-24,999) Graduate Management Admission Council (GMAC) Bank of America

Others 1-800-Flowers.com

Herff Jones

AACSB International

Kaplan and Schweser Test Prep Services

AACSB Accredited Business Programs

KPMG and the KPMG Foundation

Answer Financial

LIFE, Inc.

AVIS Rent A Car System, Inc.

Marriott International

Barnes & Noble.com

The PhD Project

College Loan Corporation (CLC)

Princeton Review

Corporantes, Inc.

SIRIUS Satellite Radio

Diversity, Inc.

SIRVA – BGS Home Beneﬁts

Enterprise Rent-A-Car

The Wall Street Journal

Financial Times

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Beta Gamma Sigma www.betagammasigma.org/alumni.htm Boston Area Alumni Chapter

Atlanta Area Alumni Chapter Hong Kong Alumni Chapter

Beta Gamma Sigma, Inc. 125 Weldon Parkway Maryland Heights, MO 63043-3101 www.betagammasigma.org bgshonors@betagammasigma.org (314) 432-5650