Questrom Impact Report 2020-2021

QUESTROM IMPACT REPORT 2020–21’S SILVER LINING: ALUMS HELP STUDENTS IN A STRONG SHOW OF SUPPORT

II QUESTROM SCHOOL OF BUSINESS

FROM THE DEAN AT THE QUESTROM SCHOOL OF BUSINESS, WE CREATE VALUE FOR THE WORLD. AND WE COULD NOT DO THAT WITHOUT YOU. There are certainly things about the past year I am glad to leave behind! How the Questrom community has come together, however, will inspire and encourage me for years to come.

Our students, who were forced to leave campus abruptly in March 2020, plowed ahead with their studies. Many are now back on campus and taking care to keep one another safe. Our faculty contributed to cutting-edge research even while pivoting to master synchronous in-person and remote teaching. Many of you, too, have had to regroup, reallocate, reengineer, reframe.

Your Questrom education inspired you to be innovative and bold; every day we hear stories of your creativity and resilience in action.

As usual, this report is exclusively prepared for—and in recognition of—the alumni and friends who stepped up to give the school their generous support. Your donations are always valuable, but this year they have meant even more. As you will see, you enabled us to provide emergency support to students, in addition to traditional scholarship aid, to see them through difficult moments. Equally important is the support you have provided in the form of mentorship, career advice, and tips about job and internship opportunities.

The theme of this report is simple: alumni helping students. My goal is that each alum will help one student every year. Imagine how strong that will make us—53,000 of you, all reaching out to support tomorrow’s business leaders. And imagine how they will pay it forward down the road.

We have much to offer you, too, in terms of lifelong learning, networking, and access to faculty and students. We look forward to venturing into a changed world together. Thank you, and please be in touch.

Susan Fournier Allen Questrom Professor and Dean Boston University Questrom School of Business

QUESTROM IMPACT REPORT 1

YOUR IMPACT: FINANCIAL AID Even with the financial headwinds caused by the global pandemic, Questrom and BU have strengthened their commitment to making a BU education affordable for all. Donors make this commitment possible by supporting scholarships for students in all programs, and from all backgrounds.

STUDENT SPOTLIGHTS Julian Burlando-Salazar (Questrom’20, LAW’23) Ascend Fellow Harold Case Scholar Allen E. Beckwith Scholar Gatto Family Fellow

As a high school student in Carmichael, Calif., Julian Burlando-Salazar volunteered for environmental causes and for organizations promoting equal access to resources such as affordable housing. When he arrived at Questrom, he turned his attention to policy and law, understanding their power to influence lasting change.

Early on at BU, Burlando-Salazar co-authored a paper with a Questrom professor about how nondisclosure agreement law changed after #MeToo. As senior year at Questrom approached, he secured a Gatto Family Fellowship to complete an internship with Greater Boston Legal Services (GBLS), focused on employment law. “Every minute I spent at GBLS felt purposeful,” he said. “I had the opportunity to learn how to use the law to help create a positive impact on lives.” Along the way, he applied to BU Law, where he started his legal education in fall 2020, with an initial focus on tax law and civil rights litigation.

Alexander W. Muth (Questrom’22) Business Administration and Management Jack W. Aber Scholar

After earning his BA at the College of William & Mary, where he joined the Army Reserve Officer’s Training Corps and the Virginia Army National Guard, Alexander Muth served in the US Army. “I had many unique leadership opportunities that allowed me to learn important skills in high-stakes situations,” he said. From Colorado, to Kuwait, to Kentucky, he gained deep experience in logistics management—and

LEARN MORE ABOUT SUPPORTING QUESTROM STUDENTS. BU.EDU/QUESTROM 2 QUESTROM SCHOOL OF BUSINESS

felt a growing interest in using his skills in civilian life. Now an MBA candidate at Questrom, Muth received the Jack W. Aber Scholarship, named for one of the school’s most revered professors and supported by Alexander Aber (Questrom’96), the late Professor Aber’s son, as well as Doug Buckminster (Questrom’82) and other alumni.

“I have already enjoyed the benefits of top-notch instruction, opportunities to collaborate with my peers, and valuable career coaching,” said Muth, who plans to work in corporate finance. “This scholarship is allowing me to make my goals and dreams a reality.”

Sophie Hearne (Questrom’21) Equity, diversity, and inclusion are not novel terms for Sophie Hearne.

As an undergraduate at Dickinson College, she developed a series of programs focused on elevating and celebrating Dickinson’s diverse student body. After returning home to Massachusetts, she worked in grantmaking and fundraising for numerous nonprofits. Realizing a business degree could make her work even more effective, she enrolled in Questrom’s Social Impact MBA program. She received a Deborah Scott Dawson Fellowship, first awarded in 2001 and created by Deborah Pratt Dawson (Questrom’82).

In 2020, Questrom Senior Lecturer Patricia Hambrick introduced her to the executive director of the Boston Women’s Workforce Council, a public-private partnership that oversees the 100% Talent Compact, through which more than 250 Boston-area organizations have pledged to take steps toward closing racial/gender gaps in wages and representation. The Council had an open position for a director of engagement and communications; they wanted Hearne for the role, and she started in September. “I couldn’t have dreamed of something better,” Hearne said. “I’ve always been passionate about and prioritized women’s issues, so it’s exactly what I wanted to do.”

Hearne looks forward to continuing to work toward her MBA part-time, and to staying involved in the Social Impact MBA program’s close-knit community, whose strength she attributes to faculty leader David Stolow. “I knew I was part of a school where conversations around ethics and doing good were always part of the conversation, she said. “It was never an add-on.”

LEARN MORE ABOUT THE SOCIAL IMPACT MBA. BU.EDU/QUESTROM QUESTROM IMPACT REPORT 3

YOUR IMPACT: FACULTY Donor support helps Questrom recruit and retain stellar faculty, and helps them do research that matters. These two Questrom professors received donor-funded research awards, enabling them to increase their activities— and their impact.

Rena Conti

Associate Professor, Markets, Public Policy, and Law Angiola M. Noe Faculty Research Award Long before the average citizen paid rapt attention to vaccines, Rena Conti was studying prescription drug markets, drug policy, and the supply of pharmaceuticals over time.

A health economist whose work informs ongoing debates about healthcare access and affordability, Conti received the 2019–20 Angiola M. Noe Faculty Research Award, following a gift from Lawrence Noe (Questrom’79), who named the prize in honor of his mother. The award enabled her to prioritize her research, which has lately examined the relationship between prices of prescription drugs and innovation incentives, the affordability of prescription drugs, and how health insurance reform changed the prescription drug market.

It also enabled her to share her knowledge more broadly. “I have spent a fair amount of time translating my work into lessons for policymakers wishing to ensure these products are affordable and accessible to all Americans who might benefit from their use,” Conti said, adding that in recent months she has been focused on COVID-19 therapeutics. “To recover our health and our wealth, it is critical to ensure we have robust therapeutics in development, and also work to ensure safe and effective products are available to all who require them.”

QUESTROM ADVANCES AS A LEADER IN DIGITAL BUSINESS—AND IN DIGITAL EDUCATION Questrom was preparing for a profoundly digital future well before everyone (and their grandmother) learned how to Zoom. In fact, in 2020, Questrom appeared on a list of “Ten Business Schools to Watch” by Poets & Quants. The list celebrated “the MBA programs that are doing something different—or way better.” These schools are staking out bold positions, defying convention, creating new markets, and expanding possibilities.” Here are a few ways Questrom stands out.

4 QUESTROM SCHOOL OF BUSINESS

This photo was taken before the pandemic.

Patricia Cortes

Associate Professor, Markets, Public Policy, and Law Shahdadpuri Faculty Research Award A labor economist, Patricia Cortes studies international migration and gender. In the past, her work has considered female migration flows, gender pay gaps, and how low-skilled immigration affects prices and the labor supply of high-skilled women.

Last year, Cortes received a Shahdadpuri Faculty Research Award, funded by a gift from Mahesh Shahdadpuri (Questrom’95, Parent CGS’20, Questrom’22). The award, she said, contributed to an “unusually productive” year, with new projects examining topics from immigration restrictions in Saudi Arabia to gender differences in the labor market outcomes of Questrom undergraduates.

One study was spurred by a dramatic drop in marriage rates for college-educated women in certain parts of East Asia. Intrigued by the data, Cortes and research partners analyzed the tradeoff that highly educated women face between investing in their careers and enhancing their marriage prospects. They found that where norms are conservative, marriage prospects deteriorate for women who invest in market-oriented skills, making them less likely to invest in human capital.

Cortes, like Conti, spends considerable time getting her findings out into the world. Her work has been published in leading economic journals, used in testimony before the US Senate, and discussed in media outlets such as The New York Times, the Washington Post, and The Economist. “It is important for me that my work is not only shared, but has impact, too,” she said.

WE’RE DISRUPTING OUR OWN INDUSTRY: In August, Questrom launched the Online MBA, making an outstanding learning experience accessible to students around the world. Spearheaded by Richard C. Shipley Professor Chris Dellarocas and others, the Online MBA is attracting a cohort of accomplished professionals—so many that we doubled our planned enrollments for the first year.

WE’RE EMBRACING DIGITAL BUSINESS: Another early-stage initiative is the Questrom Digital Business Institute. Led by Pete Howard—a professor of the practice with decades of experience leading digital transformation at Accenture and other corporations—the institute brings together leading experts to create and share knowledge about how businesses can thrive as technology continues to disrupt (and improve) how we live and work.

WE’RE BUILDING NEW PROGRAMS FOR NEW TIMES: In all of its graduate programs, Questrom is committed to developing new courses that teach students not only to understand how digital technologies are influencing business, but also how to lead organizations through technological change. Today’s cutting-edge offering? The MBA+ MS in Digital Technology, a joint degree designed for students who want to become leaders in business solutions and analytics, digital strategy consultants, and technology product managers.

QUESTROM IMPACT REPORT 5

YOUR IMPACT: QUESTROM & BEYOND As anyone in business knows, networks matter.

When it comes to building a stronger school, strengthening ties with and among our 53,000 alumni is critical.

What will this mean? Mobilizing a volunteer network of alums focused on sharing hiring opportunities for our students. Alumni scouting for us within their companies and industries to create internships and action-learning projects. Harnessing the expertise of our alums as speakers and mentors.

The global pandemic has given us an unexpected opportunity to connect with our alums in many new and different ways. Something tells us this is only the beginning.

QUESTROM INSIGHTS: A NEW ONLINE SERIES In April 2020, seeking to connect students and alumni in the early stages of remote work, we launched Questrom Insights, a new online hub for relevant, thought-provoking ideas on emerging business topics. Our virtual sessions bring together seasoned alumni with our faculty for dynamic conversations with lively Q&A.

STOCK MARKET INSIGHTS AND OUTLOOK Jack Ablin (Questrom’85), Co-Founder, Chief Investment Officer, Cresset Capital Management

HOW IS THE PANDEMIC CHANGING RETAIL?

FROM BRICKS AND MORTAR TO E-COMMERCE

Martin Nordin (Questrom’86), Chairman and CEO, Fenix Outdoor International Yoshi Takeda (Questrom’03,’03), Founder and President, American Division of Miki House Tushar Ved (Questrom’94), President, Major Brands (India), Pvt. Ltd.

LEVERAGING MARKETING INFORMATION IN A CHANGING AGE Anne Bailey Berman (Questrom’81), Co-Founder and Chair, Chadwick, Martin, Bailey

DATA AND INSIGHTS IN LUXURY MARKETING Alan Beck (Questrom’68), President, The Beauty Bridge

COVID-19, YOUR CAREER, YOUR JOB Elaine Varelas (Questorm’83), Managing Partner, Keystone Partners

TO LEARN MORE, VISIT INSIGHTS.BU.EDU 6 QUESTROM SCHOOL OF BUSINESS

TELEMEDICINE AND DIGITAL HEALTH: THE CHANGING LANDSCAPE IN HEALTHCARE Eugene Hill (Questrom’80), Chairman, SV Health Investors A DISCUSSION ON COMMERCIAL REAL ESTATE IN THE WAKE OF COVID-19 Rick Rostoff (Questrom’93), Vice President, Linear Retail W. Keith Munsell (Questrom’71), Master Lecturer, Questrom Michael J. Chase (Questrom’99), Managing Director, NorthMarq Paul Laudano (CAS’94), Partner and Practice Group Leader, Real Estate, Choate Hall & Stewart Vincent G. Norton, Jr. (Questrom’91), Principal, UrbanMeritage Sandi Silk (CAS’92), Senior Vice President, Jefferson Apartment Group

SHIFTING PRIORITIES IN THE WORLD OF CONSUMER PACKAGED GOODS John Saidnawey (Questrom’82), Chairman and CEO, Johnson-O’Hare

TOWN HALL WITH CHIEF US EQUITY STRATEGIST AT CITI Tobias Levkovich (Questrom’85), Chief US Equity Strategist, Citi

This photo was taken before the pandemic.

QUESTROM IMPACT REPORT 7

YOUR IMPACT: HOW TO GET INVOLVED

BU CONNECTS: A NEW ONE-STOP HUB FOR PROFESSIONAL AND PERSONAL NETWORKING BU Connects (buconnects.com) is a new platform exclusively for Boston University alumni, students, faculty, and staff that brings Terriers together for networking on a global scale. Integrated with LinkedIn, BU Connects is exclusive and secure, and allows you to do all of your BU personal and professional networking in a single digital environment.

Questrom alums can use BU Connects to: Join networking groups to find fellow grads in your industry or with similar interests and affinities.

Browse the complete member directory and make connections with people you should know.

Help today’s BU students by mentoring, sharing advice, and opening doors.

Recruit Terrier talent by sharing open jobs or internship opportunities at your company.

Stay in the loop with all the latest news and upcoming events from BU.

ALUMS HELPING STUDENTS, ONE CONNECTION AT A TIME The pandemic upended many Questrom students’ plans for jobs and internships. Fortunately, many of our alums stepped in to help.

The Questrom Global Advisory Board tapped its networks for student hiring.

Alums identified opportunities for students to do project work for their companies—hands-on learning to replace internships.

Students connected with Questrom grads near and far for virtual coffees and small group sessions.

Alums from around the world sent in video messages of encouragement to 2020 graduates.

8 QUESTROM SCHOOL OF BUSINESS

Questrom Professor in Management Marshall Van Alstyne teaches a class for the Online MBA in a studio specially equipped for remote instruction.

QUESTROM EMERGENT STUDENT NEEDS FUND As students and their families faced unexpected financial constraints when the pandemic hit, Questrom provided financial support above and beyond BU’s standard financial aid. Dean Fournier reached out quickly to her Advisory Board, whose members responded swiftly and significantly.

In just three weeks, they and other alums pitched in more than $100,000 to help students; Dean Fournier matched these donations, dollar for dollar, from her discretionary budget. Thanks to our alumni and friends, we were able to help cover some of the needs of more than 300 students, including those related to travel, technology acquisition, assistance with housing, and more.

QUESTROM IMPACT REPORT 9

YOUR IMPACT: QUESTROM & BEYOND No business education is complete without on-the-ground experience. With donor support, Questrom offers many such opportunities to its students each year. In 2016, in honor of their daughter Catherine’s graduation, Joseph and Susan Gatto made a gift to create the Gatto Family Fellowship, which the school uses to provide internship stipends to undergraduates interested in the law. In 2019–2020, the Gatto Fellowships supported four students interning at Greater Boston Legal Services, where they explored various aspects of the legal system and became critical advocates for vulnerable people in the greater Boston community.

“Because equal access to justice is such an imperative in our world today, Gatto Fellows need both to be focused and to adapt on the fly to meet the range of challenges of working with GBLS clients,” said Gina Powers, a Questrom senior lecturer in Markets, Public Policy, and Law, who leads the Gatto Fellows program. “They gained valuable experience and insights into the many inequities in our legal system and all that still remains to be done. Through this fellowship, Questrom students are doing more than building a skill set. They are learning empathy, awareness, and the satisfaction that comes with helping those less fortunate.”

GATTO FAMILY FELLOWS 2019–2020 Amanda Patton (Questrom’20)

Dix Hills, New York BS, Business Administration; Law and Real Estate concentrations Encouraged by her family’s tradition of giving back, Amanda Patton applied for the Gatto Family Fellowship to complement her business law coursework and to expand her knowledge of the legal system. As a first-generation college student with an immigrant parent, she was particularly interested in immigration law. From collecting information from clients to researching scholarly articles in support of clients’ petitions for asylum, Patton realized, she said, “that one person can make a difference and create a powerful impact.” Patton graduated a semester early in December 2019 and secured a full-time position as a contract specialist at BAE Systems, a defense contractor, where she had previously interned.

10 QUESTROM SCHOOL OF BUSINESS

Beleyou Kebede (Questrom’20)

Tucker, Georgia BS, Business Administration; Law concentration The Gatto Family Fellows Program offered Kebede, a longtime community activist, hands-on experience, exposure to the law, and direct access to clients. With a keen interest in the rights of the elderly and disabled, Kebede enjoyed learning about the rights of GBLS clients and how she could help them apply for benefits. She talked with clients to understand their lived experiences, reviewed medical records to learn more about perceived injustice, and researched law statutes to determine the legal basis available to support the clients’ cases. And as a group leader for GBLS’ annual Client Lobby Day, she accompanied clients and encouraged them to share their GBLS experience with legislators to advocate for statewide funding for legal aid. Kebede will continue her exploration of law through a new position as an intellectual property specialist at Facebook. She plans to pursue a law degree.

Hirohito Nango (Questrom’20)

Kobe, Japan BS, Business Administration; Economics minor; Law and Finance concentrations Hiro Nango became interested in law after discussions with his roommate about its real-world applications. “I thought it was complicated, interesting, and in a way, elegant,” he said. After enrolling in an employment law class, he was intrigued by Title VII, which bans discrimination based on race, color, religion, sex, or national origin. Interested in learning more, Nango secured a Gatto Fellowship at GBLS and joined its Asian Outreach Project, assisting recent immigrants with translation. As the COVID-19 pandemic arrived and the federal government put a hold on immigration, GBLS prioritized securing unemployment insurance for clients to meet their basic needs. Nango was matched with a struggling undocumented immigrant, alone in the US and with no means. “I helped her complete forms and secure funds. She needed someone to talk with and to hear that people care about her. It was a very rewarding experience to make an impact.” Nango is currently exploring law assistant and paralegal opportunities and envisions attending law school.

QUESTROM IMPACT REPORT 11

YOUR IMPACT: QUESTROM & BEYOND At the BU Questrom School of Business, it is our goal that every Questrom alum will find one way to help one Questrom student, every year. We hope you will accept that challenge in 2021.

PICK ONE WAY—OR ALL! Make a gift to help students through financial aid for tuition, emergency support, and co-curricular activities. Your support will make an immediate impact. As you’ll see inside the pages here, there are countless ways your gift can help a student, program, faculty member, or all of the above!

Partner with the Feld Center and sign into BU Connects, the University’s new hub for networking among students and alums. Mentor a student, post jobs, and more, at buconnects.com Join us for virtual events featuring industry and thought leaders throughout the year. Check out Insights@Questrom on our website (insights.bu.edu) for the latest and greatest!

12 QUESTROM SCHOOL OF BUSINESS

QUESTROM IMPACT REPORT III

BU.EDU/QUESTROM

THANK YOU!

Copyright © 2021 Trustees of Boston University.

All rights reserved.

QST-20-013