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Austin Peay College of Business Annual Report 2012 -2013


A Message From the Dean In conversation with my colleagues and staff I have always tried to use the term “our success,” vs “your success or my success.” This language touches the emotions and creates a sense of collegial commitment and positive environment. Disagreements are also a part of our processes, so, exactly how do you tell the leader they “have no clothes?” In the story “The Emperor’s New Clothes,” two tailors offer to give the emperor a set of very beautiful clothes. The tailors give the emperor a caveat that this suit of clothes will be invisible to people who are unfit for their jobs, or worse, just stupid. Wanting to know about his people, the emperor eagerly orders the clothes. In keeping eye over the creation of these clothes, the emperor sends his ambassadors to watch them being made; however, they don’t see anything – absolutely nothing. Out of fear of being call unfit for their jobs as ambassadors or just stupid, they refuse to report this tiny detail and instead they tell the emperor how great these special clothes are and how great he will look.

Dean William Rupp

The emperor receives the clothes, sees they are invisible, yet not wanting to appear stupid, he praises the nonexistent items. When he tours his capital wearing the invisible clothes, onlookers admire the cut of the cloth and beautiful colors, even though they don’t see anything! It’s when a child points and declares: “The emperor has no clothes!” that the crowd admits – stupid or not - that the emperor is, in fact, naked. So exactly, how do you tell the boss that her great idea “has no clothes?” It’s the art of the “push-back.” Most individuals in positions of leadership have worked hard to achieve their success. With their success they can come to believe that their way is the right way and perhaps even the only way to achieve the objective. This self-assurance is what led to their success, and it’s these blinders that make it difficult to receive a contrary view from a subordinate. To avoid this trap, we teach our students that leaders need to establish, at the outset, that they want an honest and straight point of view. Once this relationship is established, we teach them to say it often until the leader understands you equate intellectual honesty with loyalty, not with insubordination and that the motivation is professional commitment, not mutiny. This Annual Report is a report of our success – faculty, students, alumni, and staff. Everyone in the College of Business has the authority and the commitment to say the dean has no clothes. It’s built on a solid relationship of trust and creates a way of seeking excellence and being collegial. It is the essential elements of the journey to accreditation and the story of our success. Exciting times! Bill Rupp, PhD Dean and Professor of Management

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College of Business Annual Report


Table of Contents

Reader’s Guide

Message From the Dean..............................................2 Year in Review..........................................................4-5 Business Scholarships...............................................6-7 Bachelors of Business Administration....................8-9 CAPSIM Program Results.....................................10-11 TVA Challenge.......................................................12-13 Nashville Trip.........................................................14-15 Contributors to the College of Business...............16-18 Giving..........................................................................19

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College of Business Mission Statement The mission of the APSU College of Business is to promote the continuous development of a learning environment, through excellent teaching and faculty research, which challenges students to push beyond the textbook, explore the limits of their capabilities and discover their individual passions.

The College of Business Annual Report is published by Austin Peay State University’s College of Business. Press run is on demand.

Contact the Austin Peay College of Business by: Phone: 931-221-1283 Fax: 931-221-7355 Mail: College of Business, Kimbrough Bldg, Room 128 PO Box 4416 Clarksville, TN 37044

Be sure and check us out on Facebook - www.facebook. com/AustinPeayBusiness! Austin Peay State University, a TBR institution, is an AA/ EEO employer and does not discriminate on the basis of race, color, national orgin, sex, disability or age in its program and activities. The following person has been designated to handle inquiries regarding the non-discrimination policies: Director, Affirmative Action, P.O. Box 4457, Browning Building Room 7A, Clarksville, TN 37044, Phone: 931-221-7178.

2012 - 2013

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Year in

ST O H G

Review

• Summer Recognition Dinner for Graduating Seniors • College of Business Freshman Welcome

2 1 20 Aug.

Alumni Reception • Alumni Reception • GHOST Safe Trickor-Treat for the Community

Sep. • Welcome Back Picnic

Welcome Back Picnic

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College of Business Annual Report

Oct.

• Fall Recognition Dinner for Graduating Seniors • Graduation

Nov. Dec. • Master of Science in Management Open House • Sigma Beta Delta Induction


Extreme ip eursh n e r p e r t En Tour

• Extreme Entrepreneurship Tour • Dean’s Research Forum • COB Finishing Event

Kimbrou gh Awards • Faculty Kimbrough Awards

3 1 20 Jan.

Nashv ille Trip

Feb.

Mar.

• Bachelor of Business Administration Open House • Nashville Trip • Dean’s Ambassador’s Memphis Trip • TVA Challenge

Apr.

• New Center Announcement • Spring Recognition Dinner for Graduating Seniors • Graduation

May

• Major Field Test • COB Ettiquette Dinner

his p m Me Trip

2012 - 2013

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Business Scholarships Holly Batey, pictured left, is a senior accounting student in the College of Business. She receives the Baggett-Carroll Scholarship and the Catherine Elizabeth Edmondson Memorial Scholarship. Batey said that receiving the Baggett-Carroll Scholarship has been of great financial assistance, but also an honor. Batey said, “Being selected to receive the scholarship named after two esteemed APSU alumni, Mr. Larry Carroll and Mr. Lawrence Baggett, along with Mr. Baggett having been a longtime respected professor at APSU, has been truly a source of pride and a humbling gift to me.” She was selected as the recipient for the Catherine Elizabeth Edmondson Memorial Scholarship as a freshman. She felt privileged to receive this scholarship for her sophomore, junior, and senior years. According to Batey, “The funds received have allowed me to pursue my accounting degree while also being a student athlete for the Lady Govs golf team. I am very thankful to have been the recipient of these scholarships.”

The College of Business will award $94,000 in scholarships to business students for the upcoming 2013-2014 academic year. 6

College of Business Annual Report


Scholarship Name

Accounting Alumni Scholarship Baggett-Carroll Scholarship Fund Dr. Wesley O. Fortner, Jr. Endowed Accounting Scholarship Pace Scholarship Honoring Glenn Gentry Pace Scholarship Honoring Lawrence Baggett Billy Thompson Memorial Scholarship Catharine Elizabeth Edmondson Memorial Endowment Charles R. Nichols Memorial Endowment First Advantage Bank Business Administration Scholarship Guinn Family Scholarship Endowment Mr. and Mrs. Richard C. Bibb Scholarship Endowment Ruby Fisher Endowed Scholarship Fund Sid Johnson Scholarship Endowment The John Rolland Corlew Memorial Scholarship Mr. and Mrs. Richard C. Bibb Renaissance Center Scholarship Florim Scholarship

Area of Study

Amount

Accounting

Varies

Accounting

Varies

Any Business Concentration Any Business Concentration

Varies Up to $1,000

Any Business Concentration

Varies

Any Business Concentration

Varies

Any Business Concentration Any Business Concentration

Varies Varies

Any Business Concentration

Varies

Any Business Concentration Any Business Concentration

Varies Up to $2,500

Management

Up to $1,000

Marketing

Up to $1,500

Accounting Accounting Accounting

Up to $500 Up to $2,000 Varies

2012 - 2013

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May Degrees Accounting: 52

General Business: 29

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Economics: 2

Finance: 20 Management: 67

International Management: 6 Marketing: 28

What lies behind us and what lies before us are tiny matters compared to what lies within us. - Ralph Waldo Emerson

College of Business Annual Report


Bachelor of Business Administration (BBA)

In the past five years, Austin Peay’s College of Business has congratulated 955 bachelor degree recipients. The average number of graduates is 191 since the 2008 graduation celebration. The chart below shows the upward trend of earned BBA degrees within the last five years. At the College of Business, the Bachelors of Business Administration is composed of seven concentrations: Accounting, Economics, Finance, General Business, International Management, Management, and Marketing. The graphic to the left shows the breakdown of BBA degrees in the 2012 year, and how many degrees were earned from each concentration.

BBA Degrees Earned by Year 210 200

204 198

190

190

195

180 170

168

160 150 2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

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Driving Our Mission: CAPSIM Program and Results Our Master of Science in Management (MSM) students in the capstone course reached an impressive milestone in their performance in the CAPSIM simulation. The Capstone Business Simulation (CAPSIM) experience pits teams from across the world in a competitive environment. Participants face a complex and rapidly evolving scenario in which business acumen is tested and enhanced through modeling, analysis and strategic planning. The challenge is to turn around a poorperforming, $100 million company, with five average products, in very different market segments, while satisfying customer demands for

better, faster and cheaper products. With five to eight years to build success, there is immediate pressure for the management team to develop a strategy and implement it thoroughly with every decision. As you see below, our students are now above the median overall and significantly above the median in the knowledge areas. The chart above shows the overall simulation results and the overall board query, and the chart below shows the great improvement each semester in every area of CAPSIM.

CAPSIM: The Student Experience

90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00%

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Fall 2011 Summer 2012 Fall 2012

Tony Reid, an MSM graduate from Austin Peay, took the CAPSIM course last semester. Each week in CAPSIM is a simulated year in their business. Reid’s team scored in the top 10% of teams nation-wide 5


out of the 8 weeks during the 80% CAPSIM simulation. Over 72% 70% 4,000 teams competed during 60% Reid’s term. 49% The CAPSIM course 50% 57% Overall Simulation teaches students in a hands40% Results 37% on way, which sets it apart 25% 30% Overall Board Query from other classes. Not only (Business Knowledge) 21% 20% do students work together to succeed in their business, 10% but they also work through 0% every aspect of running Class Median Fall Class Median Class Median Fall 2011 Summer 2012 2012 a company. These aspects include: Accounting, Finance, MSM program. Reid credits their success to Human Resources, Marketing, their working relationship. He said the team Production/Ops, and Strategy. According collaborated on every decision, and never to Reid, the course “has caused me to look at business with a more well-rounded view of how finished a round until all group members consented to the final decision. each area impacts the success or failure of goal Reid thinks the CAPSIM course is attainment. necessary for all MSM students. One of the The greatest challenge of CAPSIM was most important lessons he took away from the staggering amount of study involved the course was how each aspect of business is with the course – both the simulated “rounds” interconnected with the others. He believes the and the course material. Reid said he spent at knowledge gained through this course is one approximately 140-160 hours of study into the of his greatest achievements in learning. Reid game simulation alone. states that CAPSIM allows business students Teamwork is “the crucial component” to to achieve a new respect for every part of the success in CAPSIM. Reid’s teammates were business world. Erin Beauchamp, who graduated in December 2012, and Linda Stachera, who is still in the

2012 - 2013

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Driving Our Mission: TVA Challenge Austin Peay State University’s College of Business placed first in the Tennessee Valley Authority Investment Challenge this year. The Challenge is a partnership between TVA and approximately 25 universities, and it provides a real world learning experience in portfolio management. The College of Business has placed in the top 3 on four different occasions, but this was the first time they placed in the top spot. In the program, students managed funds by crafting long-term investment strategies, actively trading stocks, and deliver performance reports directly to TVA. Through the Investment Challenge, students had the opportunity to manage real money and all the responsibilities that come along with it. All students are held to similar principles as TVA’s professional money managers. The groups are then ranked according to how well each of their respective portfolios performs. APSU’s portfolio ranked first with an 18.52% return on investment. Western Kentucky ranked second with a 17.34% return, and Belmont received third place with a 17.33% return. Dr. Mike Phillips, Professor of Finance, was the faculty member from Austin Peay who created and supervised the course. At Austin Peay, the Investment Challenge is an ongoing project for the Finance 4410 course, Selecting Equity Investments. According to Phillips, since the portfolio is ongoing,

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the total return on investments can reflect the behavior of past classes. Each semester, the class is comprised of several teams. The teams must argue for their stock, both individually and as a team. The class does not use textbooks, but instead use real world sources, such as Value Line and Morningstar, as if they were not in the real world. Teams select, analyze, and present their case to classes. The competition is focused on company and investing analysis, and trade at the end of the term. All teams are given approximately $300,000 of capital to manage, and APSU’s portfolio currently has a balance in excess of $500,000. The selection process begins with the question, “Is it a good firm,” and then, “Is it a good investment?” These questions aided the student teams in determining which firms to include in their portfolio. Their portfolio includes such securities as: Union Pacific, CarMax, IBM, Heinz, and Coca-Cola. The APSU team’s strategy was for value and growth stocks with a bias toward middle capitalization companies. According to the Austin Peay team, a challenging factor of the program was “finding


the relevant information from the mass of financial information.” By winning first place, APSU’s portfolio generated a 2.52% alpha in 2012 versus the S&P 500. Sarah Ages, a senior concentrating in finance, took Finance 4410 last semester. Ages commented that the class was intimidating at first. However, Dr. Phillips encourages students to put in the effort. According to Ages, “By the end we all have a foundation of knowledge and that is the best thing you can take away from a class.” The Investment Challenge is a part of TVA’s Nuclear Decommissioning Trust Fund equity allocation. The first Investment Challenge took place in 1998, and TVA designated a total of $1.9 million to 19

universities. Austin Peay has had a team in the Investment Challenge since its inception. The mutually beneficial partnership is a creative use of TVA resources, and allows college students to gain real world knowledge regarding longterm stock investments. Congratulations Finance 4410 students!

“Dr. Phillips has a unique way of making and building confidence in his students.” - Sarah Ages, Finance 2012 - 2013

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Driving Our Mission: Learning Beyond the Classroom In February of 2013, students from the APSU College of Business visited several prominent companies in the Nashville area. Participants were selected on the basis of their performance in sophomore level business courses and a recommendation from a faculty member. Students had a chance to mingle with prestigious APSU business alumni. On the Nashville trip, students visited Ingram Content Group, AJAX Turner Co., Ernst & Young, and Curb Records. Ingram Content Group Inc. is the world’s

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largest and most trusted distributor of physical and digital content. They provide books, music and media content to over 38,000 retailers, libraries, schools and distribution partners in 195 countries. Students toured the large distribution center, and learned the ins and outs of the company. Brad Withrow, CPA at Ernst & Young, gave a tour of his Nashville office. On the tour, he discussed with students the opportunities at Ernst & Young and the life cycle of an accountant. They also met Jeff Edmondson, CFO of Curb Records, Inc. He gave the students a tour of the sound studio and pointed out the importance of marketing, business adaptation, and product distribution in the recording industry. Todd Williams, Executive Vice President from Ajax Turner Company, gave students a tour of their large distribution facility. He focused on the history of the company as well as their recovery from the flood of 2010.


The Nashville trip was “truly an eye-opening experience.� - Andrew Merrill, Management

Anastasia Wood, a student on the trip, said the trip was a great experience, and witnessing real-life deployment of business concepts they learned in the classroom was inspiring. Andrew Merrill, another student on the trip, commented that the trip helped him gain an understanding of what line of work he would like to do after college. Tom Perry, Senior Vice President and CFO of Delta Dental of Tennessee, organized the trip for College of Business students. Perry, Withrow, Edmondson, and Williams are all on

the College of Business Advisory Board. The Advisory Board serves as a sounding board for present and proposed programs and activities of the College, as well as identifying opportunities for business students to enrich their education through internships, mentorships, and other learning- practical work experiences. The College of Business would like to thank these Advisory Board members for their dedication to our students.

2011 - 2012

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Contributors to the College of Business Abell, Pamela & Dunbar Adams, Clifton & Charlotte Agbeko, Christian Albert, Ryan Albertia, James Aleridge, Mary & Scott Dale Allen, Sarah & Chris American Express-Matching Arkley, Debra & Stephen Armstrong, Christopher Baggett, Lawrence Bailey, Karla Bailey, Michael & Diane Baker, Jimmy Baldwin, Michael & Tammy Ballard, Doty & Terry Ballard, Terry & Doty Banasiewicz, John & Beverly Beach, William Beachaven Vineyards and Winery, Beaird-Gaines, Cynthia & Gaines, John Beasley, William Beasley-Walker, Sheretha Beaty, Sue Binkley, Nebra & John Black, Connie Boisseau, Melanie & Mike Bow, Karen Bowers, Robert Boyd, Ronnie & Susie Bracey, Debra & Terry E Bracey, Vicki & Kendall Brake, Landon & Jane Brannon, Johnny Brasher, Malcolm & Barbara Breece, Jo & Roger

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Breeden, Barbara & Henry Breedlove, Lori & Jeffrey Brock, Susan & Samuel Brooks, Kizmet & Monroe Brown, Sidney & Jimilla Browning, Joseph & Mary Brumfield, Jane Bryant, Robert & Nancy Buder, Jeff & Kathy Burcham, William & Barbara Burgett, Stanley & Dawn Calbert, Donald Calhoun, Magan Canady, Richard Capers, Joyce & Timothy Carroll, Larry & Vivian Carver, Susan & Douglas Chandler, Stephen & Johanna Claar, Kimberly Clark, Carol & Steve Claytor, Don Cobbs, Angela Cochran, Rebecca Coleman, Arnita Coley, William & Mary Condra, James & Angie Cook, Sheila Cooper, Ronald & Debra Cooprider, Marsha & David Cowan, Chad & Karen Cox, Jacqueline & Thomas Crass, Paul & Dorothy Crawford, Latosha Critz, Harry Cunningham, James & Jean Darnell, Riley & Mary Davidson, Lesley Davidson, Lisa

Davidson, Robert & Patricia Davis, Kristin Day, Marilyn Deal, Ida Dean, William & Stephanie Delta Dental of Tennessee Dennis, Patty & Joseph DePriest, Tiffany Devine, Dennis Dortch, Richard Dunbar, Derrick Durham, Sarah Dyce, Matthew & Alyssa Edmondson, Jeffrey & Janet Egner, Rebecca Elliott, J & Anita Ellis, Sheryl Ernst and Young Llp Evans, Michael & Mary Michael Eveland, June & Donald Exxonmobil Foundation Fabrizi, Angela & Frank Fizer, Linda & Anthony Foster, Freeman & Adrienne French & Associates Fruin, Clarice Gaddes, James Gardner-Poindexter, Vicky Garrett, Terry & Richard Gearhiser, Charles Geddes, Philip Gerjets, Justin Gerstenschlager, Marcia & Alan Ghergia, Brandi & Mark Goodrum, Douglas & Phyllis Greene, Marsha & Charles


Griffin, Evon & Andre Groves, Allan & Melinda Gudenkauf, Donna Guinn, Dotson & Linda Hackney, Kevin Haley, Rena Halliburton, John & Charlsie Harb, Kenneth & Anna Hargreaves, Sherwood & Violet Harper, Melanie & Sam Elvin Harrell, Paul & Rebecca Harvell, Victoria Hayes, Delilah & Paul Heise, Paula & Stephen Henry, Thomas & Bobbie Hermes, Frank & Sharon Heuss, Tina & Nate Hilderbrand, Jean & Sam Hill, Joyce & Walt Hilliard, Dale & Belinda Hoffpauir, Mary Holeman, Robert & Pamela Holleman, James & Christa Holloway, Melissa & Robert Holvey, James Howell, Thomas & Barbara IBM Corporation Inman, Carolyn & Craig Jackson, Ron & Kellie James, Timothy & Robin Ann Jeans, Jonathan & Ashley Johnson, Deanna Johnson, James & Melissa Johnson, Ricky & Tamy Jones, John Jones, Katrina Jordan, Mack & Shirley Kennedy, James & Carol

Konvalinka, Harold & Mary Kpmg Foundation Kramer, Donald & Lori Kurth, Mackenzie Lacey, Theresa Lambert, Mildred Landiss, Fred & Judy Lawson, Virginia & R. Brooke Leath, Ronald & Mary Ann Leavell, George & Janet Lewis, Kammy Lewis, Robert & Rita Maki, Richard & Barbara Malkowski, Judy & David Malone, Jerry & Dorothy Marable, Jerry & Kathy Martin, Robert Marvin, Jerry & Jackie Mason, Patricia Mason, Sheila & Grant Maxson, Sherre Maycock, Ayesha McCullough Porter, Natalie & Porter, James McInnis, Keri McMurry, Robert & Betty Meyer, Dan Milford, Ellen Miller, Gerard Milner, Patricia & Robert Moore, Alberta & Frank Moore, Cynthia & Kenneth Morgan, Heather & Michael Morrison, Patricia Morrison, Sondra Fuell Moseley, Mary & Thomas National Guardian Neal, Kathy

Newton, Wilma & Raymond Nichols, Jerre & Jean Nolen, James & Dorothy H Northington, Nancy Ogan, Jeffery & Barbara Ouellette, James Overby, John Palmer, Christina Parmentier, Albert Pendleton, Patsy Perry, Dixie Perry, James & Suzanne Perry, Robert & Mary Frances Petrik, Barbara & Gregory Petrone, Margaret & Bob Pickens, Douglas Planters Bank Inc - Clarksville Porter, Peggy & RIchard Powell, Sabrina & Wesley Powers, Richard Primm, Lamekia Proffit, Carrie & Samuel Pugh, Ray Pulley, Annette & James Ramsey, Patty & Roger Rape, Nicole Rawlings, Sydney Reed, Sheila & Everett Regions Bank Rice, Marica Roberts, Katherine & Joe Steven Rogers, Arthur & Joan Ross, Shelia & Robert Mitchell Roszak, David Rudolph III, John Rye, Kimela & James Salazar, Angelica 2012 - 2013

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Schaller, James & Pauline Schmit, Cody Schneider, Jeff & Rebecca Schreiber, Susan Schroeder, Owen & Ann Scott, Gary & Becky Scott, Robert & Pat Shadowens, John Sharp, John & Cecilia Sharpe, Deborah & Calvin Sherrill, Kathy & Dorse Marcus Shiffer, William Simmons, Jewel & James Sims, Arneda Sites, William & Cyndi Smith, Herbert Smith, Robert & Mary Lou Soule, Laqueta Spears, Kimberly Springer, Trina Stanfill, Donald & Dawn Stefko, Jason Stone, Leonard Stone, Rudolph and Henry

CPAs Subhas, Arun & Shilta Sutton, Sheila & Jack Tate, Lisa Taylor, Michael & Nancy Tennessee Society of CPAs Thompson, Karen & Mark Thorne, Neil & Karren Tinch, Rebecca Toungette, A & Brandon Tribble, William & Jonelle Turner U.S. Bancorp Foundation Unruh, Barbara & David Vaden, Jonathan & Victoria Vezeau, Mildred & Scott Vinson, Rachel & Jonathan Wall, Rhonda & Christopher Wamble, Justin Warfield, Gary & Donna Weakley, John & Phyllis Mann Weaver, Sherry & Gary Webb, James & Womack, Cynthia

Welch, Robert & Mary Welschoff-Burt, Jutta Wendorf, Charles & Barbara West-Galbreath, Cynthia & Galbreath, Kirk Whitaker, William & Beverly Whittaker, Phyllis & Clifton Whittinghill, Phillip & Jill Richardson Wickham, Jack & Debbie Williams, Marcia & Mark Williams, Mariette Williams, Todd & Kelly Williams, Walter & Wava Wilson, Diane & Billy Wilson, Gene & Mary Mann Winn, James & Grace Withrow, James & Glema York, David Zembek, Deborah & Richard

Total Amount Given by all Contributors for the 2012-2013 Year: $137,832.52. 18 College of Business Annual Report


Giving to the College of Business College of Business

You’re gift to Austin Peay is more appreciated than you know. I am more fortunate than I can even say to receive this money. I am working hard and the scholarship I have received has been invaluable in keeping me in college and helping me pursue the goal of graduation.

– Senior, Business Student

EVERY dollar makes a difference! EVERY gift, no matter the size, counts as participation and directly impacts our students. EVERY donation is tax deductible to the full extent allowed by law; supporting the world-class education of our students. EVERY investment to the Dean’s Fund for Excellence impacts the lives of future business leaders.

Ye

Yes, I want to support the College of Business Dean’s Fund for Excellence with my gift of: ( )$100

Name: Address: Phone:

( )250

( )$500

Cell:

( )$1,000

Spouse: City:

( )$5,000

ST: E-mail:

Other

Zip:

*Make checks payable to APSU Foundation. To make a credit card payment, go to www.apsu.edu/giving. Be sure to designate your gift to the College of Business Dean’s Fund for Excellence. Thank you.

Austin Peay State University Foundation Attn: Susan Wilson PO Box 4417 Phone: 931.221.6357 Fax: 931.221.6289

Clarksville, TN 37044

E-mail: wilsonsr@apsu.edu

2012 - 2013

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Austin Peay State University College of Business Annual Report 2012-2013