Dean's Report 2019

2018 – 2019

Dean’s Report Isenberg School of Management

Dean’s Report

TA B L E O F CO N T E N T S

Incoming Dean

Entrepreneurship 14 Business Innovation Hub

16

Undergraduate Program

6

Alumni Engagement

18

Graduate Programs

8

Philanthropy 20

Doctoral Program

10

Branding 22

Diversity & Inclusion

12

Funding the Future

Cover photo: Max Touhey

2

2

Faculty 4

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Celebrating a Milestone Year It was a privilege to serve as Isenberg’s interim dean during this exciting year, bridging the gap between the transformative stewardship of Mark A. Fuller and our incoming dean, Anne P. Massey, who will join us this summer to guide the school through its next phase of growth and progress.

The transition comes at an amazing moment for Isenberg: The new Business Innovation Hub addition to the school opened this spring to universal acclaim.

When I first met with the building’s worldrenowned architects, I said, “This could be the most beautiful building in the world, but for it to be a success, it has to work for our students.” Without question, the Business Innovation Hub is a success on both counts, combining a bold visual identity with brilliantly conceived functionality.

The first major event in the Hub was a celebration of the 50th anniversary of

Isenberg’s doctoral program, which took place in early April, welcoming dozens of PhD alumni who shared stories from their school days to their professional successes. A week later, for the Business Innovation Hub’s official ribbon-cutting ceremony, we welcomed the architects, along with university officials, faculty and staff, students, and donors to celebrate the space. The building exists because of philanthropic donations, and we’ve taken the opportunity to teach our students about the culture of giving that sustains the Isenberg community from our most accomplished alumni to our undergraduates.

Along the way, we’ve also added to our staffing infrastructure in important ways: The Berthiaume Center for Entrepreneurship gained new leadership and new associate deans have been named to head up Isenberg’s research and administration functions. Plus, Nefertiti Walker took the

helm as the school’s first associate dean for an inclusive organization—a major step in our efforts to ensure that inclusivity is topof-mind in everything we do.

Our new dean, Anne Massey, is uniquely able to lead us on that continuing journey.

We conducted an exhaustive search to find the person who would appreciate what’s gone into Isenberg’s recent success in becoming a top 30 public business school, but who could also see room for improvement. Anne’s analytical nature and vast experience fostering cross-campus partnerships and initiatives make it clear that she’s the right leader to guide Isenberg’s growth.

I look forward to Isenberg’s next steps under her leadership.

Thomas P. Moliterno INTERIM DEAN & EARL W. STAFFORD PROFESSOR OF MANAGEMENT

1

New Leadership INCOMING DEAN :

Anne P. Massey

ANNE MASSEY ATTENDED THE CELEBRATION OF THE 50TH ANNIVERSARY OF ISENBERG’S DOCTORAL PROGRAM IN APRIL.

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INCOMING DEAN

“We are living in an age of acceleration with the rate of technological change increasing,” says Anne Massey. “While the future of work calls for technical skills, it also demands an understanding of the human and ethical sides of management and leadership.”

Isenberg’s new dean, who joins the school officially in August 2019, has focused on aligning academic programs with the technical, social, and cultural changes happening outside campus walls throughout her career, and she says she’s excited to join a school where multi-disciplinary programs, industry partnerships, and student-led team projects are already the norm. “Among many opportunities, there is great potential for us to collaborate with other campus units as we seek to meet the needs of learners and the organizations that hire them,” Massey says.

I believe we have the raw materials necessary to take advantage of the opportunities in front of us: top quality students, faculty known for their scholarship and teaching, dedicated staff, and a collegial culture that welcomes innovation.

ANNE MASSEY, INCOMING DEAN

She joins Isenberg from the Wisconsin School of Business at the University of Wisconsin, where she was professor and Ruth L. Nelson Chair of Business. While there, she led efforts to develop a new MS degree in Design + Innovation, involving the schools of business, human ecology, and engineering.

Leading new initiatives, particularly those involving cross-disciplinary collaborations, began for Massey during her 22-year tenure at the Kelley School of Business at Indiana University Bloomington. As co-chair of IU’s Intelligent Systems Engineering Program, she led efforts with faculty from business, informatics and computing, arts and sciences, public and environmental affairs, and law to implement a new undergraduate engineering degree, the first of its kind at the university.

At IU, Massey was also the co-founder of the Center of Excellence for Women in

Technology, an interdisciplinary initiative that promotes the participation, empowerment, and achievement of women in technology.

“There is a big difference between having tech skills and working in tech fields,” says Massey. “Today, it is hard to think of an industry that isn’t searching for tech-savvy talent. The center reflects my interest in offering ways to develop the skills and— importantly—the mindsets needed in the workforce of today and the future.”

She also focuses on collaborations with industry. Massey spent six years during her time at Kelley serving as executive director for the Information Management Affiliates, an industry-university cooperative involving more than 20 businesses and nonprofits.

Her primary research focuses on innovation processes and strategies, and the role of technology as an enabler of collaborative work. Her research has garnered federal,

foundation, and industry funding, and her articles have been published in leading academic journals. Massey earned her BS degree in management, MS degree in industrial engineering, and PhD in decision sciences and engineering systems from Rensselaer Polytechnic Institute.

“We’re in a critical time for higher education and, more specifically, business education,” she says. “I am truly excited to join such a forward-looking school and university. I believe we have the raw materials necessary to take advantage of the opportunities in front of us: top quality students, faculty known for their scholarship and teaching, dedicated staff, and a collegial culture that welcomes innovation.”

INCOMING DEAN

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Focus on Faculty Isenberg’s faculty members are deeply involved in the day-to-day lives of students, receiving praise for their inspirational teaching as well as their involvement with projects and job searches. Meanwhile, they’re developing cutting-edge research across the spectrum of their specialty areas, with their work regularly appearing in top scholarly journals and winning academic awards. This year, Associate Dean for

Research George Milne has focused on bringing wider attention to their innovative and impactful projects.

The Isenberg Faculty Speakers Series, for example, featured six assistant professors explaining their work to colleagues over lunch, fostering cross-departmental awareness, admiration, and collaboration.

NEW HIRES

PRIYANK ARORA ASSISTANT PROFESSOR OPERATIONS & INFORMATION MANAGEMENT PHD, GEORGIA INSTITUTE OF TECHNOLOGY

ZACHARY SHEFFLER ASSISTANT PROFESSOR OPERATIONS & INFORMATION MANAGEMENT PHD, UNIVERSITY OF MINNESOTA

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FAC U LT Y

EMILY HEAPHY ASSISTANT PROFESSOR MANAGEMENT

SIMON HUANG ASSISTANT PROFESSOR FINANCE

ANDREW KITTO ASSISTANT PROFESSOR ACCOUNTING

AURORA LIU ASSISTANT PROFESSOR MANAGEMENT

PHD, UNIVERSITY OF MICHIGAN

PHD, YALE UNIVERSITY

PHD, UNIVERSITY OF FLORIDA

PHD, YORK UNIVERSITY

CRISTINA VLAS ASSISTANT PROFESSOR MANAGEMENT

LYNDA SCHWARTZ LECTURER & DIRECTOR FOR FORENSICS AND ANALYTICS ACCOUNTING

JEFFREY CLARK LECTURER FINANCE

JENNIFER ROY LECTURER ACCOUNTING

MBA, UNIVERSITY OF GEORGIA

JD, WESTERN NEW ENGLAND UNIVERSITY LAW SCHOOL

PHD, UNIVERSITY OF TEXAS AT DALLAS

BBA, UNIVERSITY OF MASSACHUSETTS AMHERST

YING LIU ASSISTANT PROFESSOR OPERATIONS & INFORMATION MANAGEMENT PHD, ARIZONA STATE UNIVERSITY

RADU VLAS LECTURER OPERATIONS & INFORMATION MANAGEMENT PHD, GEORGIA STATE UNIVERSITY

NEW SENIOR LEADERSHIP

Lisa Masteralexis

Bradley Bennett

George Milne

Nefertiti Walker

SENIOR ASSOCIATE DEAN

ASSOCIATE DEAN OF ADMINISTRATION AND FINANCE

ASSOCIATE DEAN OF RESEARCH

ASSOCIATE DEAN FOR AN INCLUSIVE ORGANIZATION

Lisa Masteralexis provides

Bradley Bennett oversees

Building and supporting the

In this role, Nefertiti Walker

executive-level oversight for

administrative operations in

school’s research efforts is

works to build, promote, and

the day-to-day execution of

the Isenberg School. As part of

George Milne’s mission in his new

support a diverse and inclusive

Isenberg’s strategic plan. This

his new responsibilities, he has

position. He has been developing

culture across all aspects of

includes providing guidance

coordinated the school’s move

programs to help faculty members

Isenberg’s activities, including

to, and oversight of, the chairs

into the new Business Innovation

build and extend their research

teaching, research, operations,

of the school’s seven academic

Hub this year. In addition to

competencies and creating new

and human resources. She

departments, and leading the

having worked in KPMG’s audit

outlets for highlighting their

earned her BA and MBA degrees

faculty affairs and development

practice, Bennett spent three

thought leadership. Milne earned

at Stetson University and

activities at large. Masteralexis

years as assistant controller

his BS and MA degrees at the

her PhD at the University of

is a professor in the Sport

for Millsaps College, where

University of Utah and his PhD at

Florida. Walker, who previously

Management Department. She

he earned his BBA and MAcc

the University of North Carolina

served as Isenberg’s director

earned a BS in sport management

degrees. He earned his PhD

at Chapel Hill. Milne is the Carney

of diversity and inclusion, is an

at UMass Amherst and a JD at

at the University of Alabama.

Family Endowed Professor of

associate professor in the Sport

Suffolk University Law School.

Bennett is an associate professor

Marketing and also oversees

Management Department.

in the Accounting Department.

the school’s PhD program.

NEW ENDOWED APPOINTMENTS

Agha Iqbal Ali

George Milne

Bruce Skaggs

KAREN AND CHUCK PETERS FAMILY ENDOWED PROFESSOR OPERATIONS AND INFORMATION MANAGEMENT

CARNEY FAMILY ENDOWED PROFESSOR MARKETING

FLAVIN CHAIR IN ENTREPRENEURIAL STUDIES MANAGEMENT

FAC U LT Y

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Class of 2019

Isenberg’s fantastic students help make it the #1 public business school in New England, according to the 2019 U.S. News & World Report rankings. These graduating seniors are transitioning smoothly from school to professional success.

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U N D E R G R A D UAT E P R O G R A M

Kevin Cai

Emma Townsend

Yaseen Gholizadeh

ACCOUNTING

MARKETING/INFORMATION TECHNOLOGY

FINANCE

DEALS ASSOCIATE, PWC (CMAAS)

Specifically, I’ll be working in PwC’s capital markets and accounting advisory services (CMAAS) group. I hope to get involved with the Boston area’s thriving biotech and life science industry.

From day one, the culture of Isenberg has been one of friendly competition. Rather than dragging others down to get ahead, Isenberg students share and support one another, and send along internship opportunities. The students who I pass in the halls each day are some of the hardest working, grittiest, and most driven people I have ever met.

CUSTOMER EXPERIENCE ASSOCIATE, RAPID7

I am excited to be participating in a marketing and customer experience rotational program at Rapid7 in Boston. In the future, I plan on working toward attaining an MBA. Isenberg has been instrumental in leading me to opportunities that have allowed me to thrive as a student and a professional, setting me up for future success.

Through the Chase Career Center and UMass Adlab (a student-run advertising agency), I have received two national first place competition titles.

These achievements would not have been possible without the mentorship from Isenberg staff and partnership with other driven Isenberg students.

INVESTMENT BANKING ANALYST, GOLDMAN SACHS

The way that I measure success has no title or salary. Instead, it is predicated on the number of lives that an individual changes for the better. Ultimately, my goal is to make the world a better place.

Through both the technical skills provided by our illustrious faculty and the soft skills we’ve acquired through peer-to-peer interactions, Isenberg’s driven culture and focus on community really foster the skills necessary to be successful. When you are surrounded by people that are driven, it really motivates you to reach higher and work harder.

86%

$59,000

placement rate, 3 months out, Class of 2018

median starting salary, Class of 2018

TOP EMPLOYMENT INDUSTRIES

Accounting Financial Services Technology Hospitality Sport Retail

Jenny Quan

Kevin Dunne

Paige Kozlowski

Katarina Maric

MANAGEMENT/PSYCHOLOGY

HOSPITALITY & TOURISM MANAGEMENT

SPORT MANAGEMENT/OPERATIONS & INFORMATION MANAGEMENT

OPERATIONS & INFORMATION MANAGEMENT

ROOMS OPERATIONS VOYAGER, W NEW YORK - TIMES SQUARE

ANALYST OF BUSINESS INTELLIGENCE AND CRM, NASHVILLE PREDATORS

SALES OPERATIONS ANALYST, COGNEX CORPORATION

Voyage is Marriott’s global leadership development program that lasts 12 months. My current career plan is to work in hotel operations for a few years and then transition into revenue management.

I started working with Marriott during my sophomore year after they came to campus for an information session. I’ve done an externship, two summer internships, and worked as a campus ambassador for the company. I applied for the Voyage program last August and was offered the position after completing multiple rounds of interviews and assessments, including a two-day final interview event in Dallas.

When I applied for my position, the Chase Career Center helped me with negotiating salary.

Isenberg gave me all of the tools necessary to be successful after graduation. Through my coursework, I learned how to effectively use new analytics programs and software, which will be crucial in my field. My professors were also beyond helpful, always offering career advice and guidance. In the future, I plan to be a point of contact for younger students who are looking to get into analytics in the sport industry.

I easily found and applied for this position through IsenbergWorks, the school’s job platform. My first-round interview with Cognex happened in the new interview suites in the Business Innovation Hub. Recruiters complimented me for how knowledgeable I was. This would not have been possible without my amazing professors and the many resources Isenberg offers.

Another factor that differentiated me from other candidates was my diverse technical background.

As an operations and information management and information technology student, I was able to gain expertise in technologies including SAP and Tableau.

EXECUTIVE TEAM LEADER, TARGET

I attended the career fair and met my Target recruiter, who immediately saw my potential.

I also attended pre-networking nights and workshops that sharpened my interview skills and knowledge of the company. Before that, during my sophomore year, the Chase Career Center helped me decide between two internship offers I had received.

Isenberg has positioned me to feel so prepared for any professional event, whether it is an interview, a networking night, or even a work meeting. I know how to dress, how to deliver a great elevator pitch, and how to truly make connections wherever I go.

U N D E R G R A D UAT E P R O G R A M

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New Graduate Programs Fill Market Gaps New programs in forensic accounting and alternative investments continue to build Isenberg’s portfolio of innovative and essential offerings for contemporary business professionals.

From the realm of the truly cutting-edge, Isenberg has developed the world’s first Master of Finance in Alternative Investments (MFAI). The one-year degree program to prepare students to practice finance in the 21st century welcomes its first class in fall 2019 and comprises a cohort of students from the United States and China.

“As the global financial markets become increasingly complex and investors seek greater diversification along with increased return on investments, there has never been more demand for expertise in the field of alternative investments,” says Program Director Bing Liang.

Students will learn from the best— Isenberg’s finance faculty are recognized internationally for their leading research in alternative investments. The program allows students to tap into unparalleled academic partnerships through the Center for International Securities and Derivatives Markets (CISDM), which is located at Isenberg.

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G R A D UAT E P R O G R A M S

Forensic accounting, where CSI meets CPA, is another growing field, as regulators crack down on fraud and embezzlement and companies work ever harder to ensure that their finances are kept safe and in order. To help accounting professionals gain the skills needed to enter and grow in this industry, Isenberg will launch the new Certificate in Forensic Accounting in fall 2019. The certificate can be earned entirely online, with the option of attending classes at the UMass Amherst Mount Ida Campus in Newton.

“The curriculum, which covers data analytics, forensic accounting, and fraud

and white collar investigations, will be taught by some of the most experienced practitioners in the field,” says Program Director Lynda Schwartz ’86. Students will also have the opportunity to connect with Isenberg’s network of top-tier forensic accounting practitioners, which includes senior professionals from the FBI, EY, Deloitte, KPMG, and PwC. Tony Jordan ’95, a partner at EY, welcomes the prospect of more qualified people entering the field. “The most exciting part of our business is combining the many things our talented people do,” Jordan explains.

#1

ONLINE MBA

For the third straight year, Isenberg’s Online MBA is the highest-ranked web-based MBA program in the United States, based on a Financial Times survey of both school programs and alumni satisfaction and success.

Isenberg Welcomes Students to UMass Amherst’s Mount Ida Campus Isenberg has begun scheduling classes at UMass Amherst’s Mount Ida Campus in Newton, providing students with a physical location for studies in the eastern part of the state. Just 10 miles outside of downtown Boston, the site offers access to all the services UMass Amherst offers, including award-winning dining services. There is also an option to apply for affordable on-campus housing.

Among the first programs offered is the Master of Science in Business & Analytics (MSB&A), which welcomed its first Mount Ida cohort in May 2019. The new Certificate of Forensic Accounting, in addition to being

We are thrilled by the strides reflected in the latest Financial Times rankings, as they affirm that our recent investments in faculty and technology have provided a gateway for our program participants to excel.

entirely online, also offers the option to

TOM MOLITERNO, INTERIM DEAN

Securities and Derivatives Markets.

take selected courses at Mount Ida The close proximity to Boston businesses creates accessible professional development opportunities and the possibility of securing longer-term internships.

The school is also using the facilities at the Mount Ida Campus for extracurricular events, including a week-long stay for participants in the Berthiaume Center for Entrepreneurship’s Summer Accelerator program and the 2019 conference of Isenberg’s Center for International

G R A D UAT E P R O G R A M S

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Doctoral 50th Anniversary Celebration 10

DOCTORAL PROGRAM

Isenberg is what an academic community should be—everyone here supports each other.

DENNIS HANNO ‘90 PHD, PRESIDENT OF WHEATON COLLEGE (LEFT)

On April 5th, at Isenberg’s 50th anniversary celebration of its PhD program, Interim Dean Tom Moliterno spoke to an audience of several generations of PhD graduates, current doctoral students, and faculty, past and present. “Doctoral programs are an investment in an academic institution and its research mission,” Moliterno observed. The day-long gathering in

Isenberg’s new Learning Commons attracted 260 attendees, 90 of which were Isenberg doctoral graduates.

Associate Dean of Research George Milne, who directs the PhD program, charted its evolution: Isenberg had the first public university doctoral program in business in the Northeast, he explained. Displaying a black-and-white photo of the first PhD students, Milne noted that all of the women seated in front of the nine standing male candidates were wives, not students. Today, he observed, 45 percent of the program’s 65 students are women.

Milne recounted some of the program’s recent innovations, including its extension to five from four years, summer funding for its students, and Isenberg’s homegrown doctoral robing ceremony. A defining strength, he emphasized, is its renewed investment in pedagogy and teaching.

No surprise, then, to find recent graduates at Cornell, the University of North Carolina, Texas A&M, and other leading research universities.

“Isenberg is what an academic community should be—everyone here supports each

other,” observed keynote speaker Dennis Hanno, A 1990 Isenberg PhD graduate in accounting, Hanno has been president of Wheaton College since 2014.

After graduating, Hanno taught briefly at Boston College before returning to Isenberg as an assistant professor. “I came back because of the people,” he told attendees.

Hanno thrived in Isenberg’s culture, eventually becoming its undergraduate dean until 2006.

“My PhD years were the best years of my life,” Hanno emphasized.

Another speaker at the event, Tina Wakolbinger ‘07 (pictured bottom left), who earned her PhD in management science, was no less appreciative. “The PhD program truly changed my life,” recalled the alumna, who is Professor of Supply Chain Services and Networks at the Vienna University of Economics and Business.

The event also honored a faculty member with the new D. Anthony Butterfield Service Award for exceptional dedication to the PhD program. Its first recipient: Tony Butterfield himself, who energized the program in three stints as its former director.

DOCTORAL PROGRAM

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Welcoming Diverse Perspectives

Program Additions After Nefertiti Walker’s appointment as associate dean for an inclusive organization at the beginning of 2019, one of her first steps was to create a new series called Conversations.

“The series strives for intimate discussions of tough subjects that plague the workplace,”

The Isenberg community values the unique experiences, identities, and perspectives that each of its members brings to the table. In order to be a true hub of innovation, leaders must value diversity, seek new ways to look at problems, and provide an environment where even the most underrepresented views are heard. Isenberg’s faculty, staff, and students work tirelessly to cultivate an environment

that acknowledges differences, respects diverse perspectives, and seeks the voice of all community members. This culture of inclusion is the active and continuous process of providing a space where everyone feels comfortable bringing their complete and authentic selves to Isenberg, while upholding the school’s values of respect and dignity.

observes Walker.

Conversations kicked off with a panel discussion featuring speakers from Major League Baseball (MLB) discussing diversity and inclusion in the sport. Pam Kenn ’01, vice president of community, alumni, and player relations for the Boston Red Sox, talked candidly about how the organization responded when a fan at Fenway shouted a racial slur at an Orioles player in 2017.

Tyrone Brooks, senior director of the Front Office and Field Staff Diversity Pipeline Program for MLB, discussed the league’s efforts to recruit diverse staff members, combat homophobia and transphobia, and increase opportunities for women.

For the next event, representatives from professional services firm PwC presented two workshops— one aimed at faculty and staff, and another for students—on unconscious bias.

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DIVERSITY & INCLUSION

INCLUSIVE LEADERSHIP SUMMIT October 18–19, 2019 The Inclusive Leadership Summit is the nexus of Isenberg’s diversity and inclusion efforts, bringing industry partners, alumni, students, faculty, staff, and community leaders together to share best practices, industry trends, and concerns related to diversity and inclusion in business.

The two-day event will include speed networking, case competitions, breakout sessions, keynote speakers, and workshops, plus a cocktail party and luncheon, where the extended Isenberg community will delve deeply into the meaning and value of diversity and inclusion in organizations. The goal is to provide Isenberg’s students with the tools, content, and networking opportunities they need to better understand the importance of diversity—ensuring that a variety of genders, ethnicities, generations, sexual orientations, mindsets, and physical abilities are represented in an organization. It will also help them learn the skills and capabilities required of leaders fostering inclusiveness, to ensure that all members of a group feel valued, respected, and comfortable participating fully.

STUDENT CLUBS Through a wide variety of clubs, Isenberg advances the academic, professional, and social needs of the community. These studentrun organizations, overseen by faculty advisors, provide leadership opportunities and help connect students with various identities, backgrounds, and interests.

We are excited that EY (Ernst & Young) has agreed to provide significant financial support to help us launch our inaugural Inclusive Leadership Summit in the fall of 2019. EY shares our vision of the importance of diversity and inclusion and has been an active supporter of such efforts across our campus.

Here are just a few of the clubs that are active within Isenberg: • Advancement of Diversity in Business • Association for Diversity in Sport • A ssociation of Latino Professionals for America • Jewish Leaders in Business • The National Society of Minorities in Hospitality • Women in Business • Women in Finance Society • Women in Sport Management

We want all of our club members to know that they have a place here and that they are capable of excelling during their undergraduate years.

A REPRESENTATIVE OF THE ADVANCEMENT OF DIVERSITY IN BUSINESS CLUB

DIVERSITY & INCLUSION

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Entrepreneurial Campus Connections

NEW LEADERSHIP AT THE BERTHIAUME CENTER FOR ENTREPRENEURSHIP

Gregory S. Thomas This year, in partnership with the UMass Amherst schools and colleges, the Berthiaume Center developed the first ever State of Entrepreneurship Report. Covering the entire campus, the new report details entrepreneurial education efforts ranging from Berthiaume’s Idea Jams to classes taught by faculty in the Colleges of

Engineering, Humanities and Fine Arts, and Social and Behavioral Sciences.

The report also covers the wide variety of offices and programs that encourage UMass Amherst campus community members—including faculty, students, and alumni—to consider leveraging their research and ideas to start new businesses.

For example, the College of Information and Computer Sciences has created an Entrepreneur-in-Residence program, the Institute for Applied Life Sciences enlists Isenberg full-time MBA students and others to work with venture founders, and the Technology Transfer Office and the Massachusetts Small Business Development Center advise on licensing and patenting issues.

Creation of the report highlights the Berthiaume Center’s mission to connect entrepreneurial efforts happening across the UMass Amherst campus, ensuring that everyone with a great business idea knows how to access the resources that will help them bring their startup to life.

EXECUTIVE DIRECTOR

A native of Springfield, Massachusetts, and a 1991 UMass Amherst alumnus, Gregory Thomas joins the Berthiaume Center after two decades in various senior global manufacturing, finance, and control roles with Corning Incorporated. During his last five years at Corning, Thomas was a strategist in the Emerging Innovation Group focused on bringing new products, processes, and businesses to market. He was responsible for ensuring that researchers and product line managers had solid manufacturing and business processes in place for long-term profitability and viability.

Thomas earned an MBA in finance and operations management at Clark Atlanta University.

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ENTREPRENEURSHIP

The Innovation Challenge The six ventures competing for seed money

of the Innovation Challenge’s four phases,

at the Innovation Challenge Final this spring

which started in the fall with the Minute

all presented cutting-edge entrepreneurial

Pitch contest and proceeded through the

solutions to real-world problems: technology

Seed Pitch and the Semifinal.

to hasten wound healing, a video game to

A second-place winner earned $20,000, and

teach safe-driving skills to teenagers with

two third-place winners each earned $7,500.

ADHD, an online microbe-identification

Plus, for the first time, all six finalist ventures

service, an affordable device to measure

received $1,000. “All of the competition’s

athletes’ speed and motion, proteins that

awards came through the generous donations

kill antibiotic-resistant bacteria, and—the

of philanthropists. It is equity-free funding,”

competition’s big winner—a video workshop

remarks Berthiaume Center Executive Director

series created to augment middle and high

Gregory Thomas. Just as important, he

school health and wellness curricula.

adds, was the behind-the-scenes teamwork

Ashley Olafsen ’18 BDIC and Tom Leary ’19 LARP are co-founders of the winning startup, Let’s Talk About It, which earned $24,000

and venture development, which included coaching the competing teams.

“It was so wonderful to attend pitch

of equity-free funding. “I loved competing

workshops and meet the other team

against such unbelievable teams,” says

members, because it increased the

Olafsen. “Everyone was kind, thoughtful,

seriousness of the event and encouraged

and had really great ventures.”

me to work hard at preparing beforehand,”

Hosted and coordinated by Isenberg’s

ALL COMPETITORS IN THE FINAL RECEIVED FUNDING FROM PHILANTHROPIC DONATIONS.

Olafsen says. “We are so excited to use the

Berthiaume Center for Entrepreneurship,

funding to help more students and truly

the cross-campus event was the culmination

make a difference in fighting stigma.”

I loved competing against such unbelievable teams. Everyone was kind, thoughtful, and had really great ventures.

ASHLEY OLAFSEN ‘18, FOUNDER OF INNOVATION CHALLENGE WINNING VENTURE, LET’S TALK ABOUT IT

ENTREPRENEURSHIP

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Business Innovation Hub Grand Opening By the time of the ribbon-cutting ceremony for the new Business Innovation Hub in April, the building had been open to faculty, students, and staff for three months. The new addition had already received widespread praise for both its stunning visual identity and its day-to-day flexibility and functionality.

So when Isenberg’s community gathered with alumni, donors, university officials, and the architects to officially celebrate the new building’s grand opening, the happiness and gratitude were heartfelt. “It was well worth the wait,” said graduating senior Katarina Maric, who spoke as a student representative. “My classmates and friends love it—the wide open space, so important to collaboration and teamwork.”

Associate Dean for an Inclusive Organization

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B U S I N E SS I N N OVAT I O N H U B

Nefertiti Walker spoke about how the Hub encourages students to meet and share perspectives, and gives them a “safe space where they can challenge the ideas of others and grow.”

According to the building’s co-architect, Bjarke Ingels, “Eliminating separation between the Hub’s interior and the surrounding campus was a key aspiration.”

The Bjarke Ingels Group (BIG) worked with Goody Clancy, another prominent architectural firm, to create the Hub. Ingels described the Learning Commons—where the event was held in front of dramatic vertical windows that let light in between the slanting copper fins of the exterior— as “an aspirational room, a space to come up with big ideas.”

UMass Amherst Chancellor Kumble Subbaswamy explained in his remarks that the Innovation Hub was primarily funded by philanthropy. Many of the Visionary Donors attended both the grand opening ceremony and also a gala dinner the night before. “The Learning Commons gives students all the open space that they could want,” observed accounting graduate Tom Ackerman ‘76 in an interview. “When I was a student, the old building offered no place to go,” he continued. “I also love the way that the architecture pulls the building into the center of the campus.” After the program, the speakers and visiting dignitaries moved outside with scissors and cut the ribbon into multiple ceremonial pieces.

ISENBERG STUDENTS LOVE THE HUB

Here’s what a few of them had to say during its inaugural semester: THOMAS ACKERMAN ‘76

JIM BUONOMO ‘74, ‘76G AND PAULA BUONOMO

PAUL CARNEY ‘82

DENISE COLL ‘75 AND NICHOLAS SAMPSON ‘82

GEORGE DITOMASSI ‘57

BOB EPSTEIN ‘67

DAVID FUBINI ‘76

GIB HAMMOND ‘77 AND SUSAN HAMMOND

ED SHIRLEY ‘78

With its natural light and overall atmosphere, I want to be here all of the time. The building has brought Isenberg to a whole new level.”

REXFORD NGUYEN, FINANCE

There is so much more space.

The building’s study rooms and open spaces make it a great place to work, hang out, and network.”

MICHAEL ZOLA, OPERATIONS AND INFORMATION MANAGEMENT

I like the building’s nooks— with comfortable tables and chairs, you can study without distraction. The building conveys a message: Isenberg is a serious business school.”

BROOKE KLEINFELD, MARKETING

Visionary Donors The generosity of many graduates and friends of Isenberg helped us build the iconic Business Innovation Hub. The distinguished alumni recognized here stand out as Visionary Donors for their extraordinary investment. Their stories and philanthropic spirit will be commemorated on the ground floor of the new building so that their work ethic, humanity, and accomplishments may inspire and drive others to realize their own greatness and to move purposefully forward to make the world better.

B U S I N E SS I N N OVAT I O N H U B

17

Alumni Return to Campus Isenberg alumni pride themselves on giving back to the school by engaging and inspiring the next generations. Approximately 150 alumni returned to campus this past academic year, sitting on panels, judging competitions, recruiting for companies, and serving in roles such as “Professor for a Day.” DENNIS DONOVAN ‘71, PRESIDENT AND CEO, BEACON ADVISORS INTERNATIONAL, SPOKE TO STUDENTS AND FACULTY ABOUT CHANGE MANAGEMENT.

BOB EPSTEIN ‘67, CO-CHAIRMAN, HORIZON BEVERAGE COMPANY, GAVE SOLID CAREER ADVICE TO STUDENTS. STEPHANIE LINES ‘10, MARKETING COMMUNICATIONS MANAGER, NECB, AND MARGERY PIERCEY ‘84, CFO AND COO, MASS INSIGHT EDUCATION & RESEARCH, SPOKE ON A PANEL AT THE WOMEN OF ISENBERG CONFERENCE.

18

ALUMNI ENGAGEMENT

ELLEN GOODMAN ‘85, FINANCIAL ADVISOR, PRUDENTIAL, SPOKE ON A PANEL AT THE ISENBERG WOMEN IN FINANCE LUNCHEON.

MARC SCHNEIDER ‘81, CEO, KENNETH COLE, ADDRESSED STUDENTS AT THE DEAN’S LEADERSHIP SEMINAR.

The Isenberg Business Leadership Awards One of Isenberg’s top priorities is celebrating alumni who stay involved and continue to make an impact on the school. This past year, Isenberg honored two business leaders at the annual Isenberg Business Leadership Awards Dinner. Speaking to an audience of 450 alumni, students, and faculty at the Colonnade Hotel in Boston, principal honoree Edward D. Shirley ‘78, whose career has included stints as president of North American operations for Procter & Gamble and president of Bacardi, remarked that “UMass Amherst and Isenberg are now investment-grade.”

At the same event, Melcolm Ruffin ’13, the NBA’s associate manager of business operations, received the first annual peernominated Driven Leadership Award, which recognizes a recent graduate who has continued to show Isenberg drive in his or her profession and community.

ED SHIRLEY (MIDDLE) WITH EARL STAFFORD AND MARK FULLER

MELCOLM RUFFIN WITH HIS MOTHER

Three departments honored alumni at their respective banquets: Accounting

Hospitality & Tourism

Mark H. McCormack

Department

Management

Department of Sport

Department

Management

Rick Gulman ’79

STEVEN ELMONT AWARD

& Susan Gulman ‘81

Victoria Vega ‘88

HAROLD J. VANDERZWAAG DISTINGUISHED ALUMNUS AWARD

ALUMNI OF THE YEAR

KARYN SCHOENBART ‘78, CEO, NPD GROUP INC., OFFERED PERSONAL ADVICE TO UNDERGRADUATES.

OUTSTANDING YOUNG ALUMNI AWARD

Matt Alemany ‘10

Declan Bolger ’89 MS Noreen Morris ‘91 Cindy Stutman ‘98 Scott Zuffelato ’87 MS

ALUMNI ENGAGEMENT

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Culture of Philanthropy Students learn the value and impact of philanthropic support throughout their time at Isenberg. During the fall, the Senior Gift Campaign kicks off with its annual Driven to Give Week. Daily events focusing on various aspects of philanthropy help educate students about the importance of giving back. They acknowledge donors, learn about the impact of scholarship support, attend a fundraising trivia event, write testimonials about their own reasons for being #DrivenToGive, and host a school-wide community service project.

Starting with the Class of 2011, the Senior Gift Committee has increased engagement

PA R T I C I PAT I O N R AT E

72%

76%

84%

42%

13%

17%

25% 13%

20

PHILANTHROPY

2019

2018

2017

2016

2015

2014

2013

2012

2011

4%

with current students and the greater Isenberg community, inspiring a culture of philanthropic support at the school. The impact of these efforts is evidenced by the success of the Class of 2019 campaign, with 84 percent of seniors contributing to their class gift. Their collective effort has enabled them to be the first graduating class to endow a scholarship. The Class of 2019 Scholarship will live on in perpetuity and serve as a permanent tribute to their class.

As alumni, the class will be able to continue supporting the scholarship, enriching the experience of future Isenberg students and their own engagement with the school.

I am #DrivenToGive because I want to empower people to reach their GOALS!

William Hubbard ’87 Endows $1 Million Internship Fund for Students Sport management alumnus

YOUNG ACCOUNTING ALUMNI GIVE BACK “As Isenberg accounting graduates, my classmates and I remember the cost of our education,” remarks Frankie Abad ‘15, a senior auditor with EY. “Just about all of us received some sort of financial assistance as students.” Frankie and a dozen of his classmates have created the Class of 2015 Commemorative Scholarship, an annual award for an outstanding accounting student. Now in its third year, the scholarship has honored two students to date: John Mooney ’19 and Kevin Cai ’19.

“Creating the scholarship wasn’t complicated,” emphasizes Abad, who traces the idea for the gift to conversations at Isenberg alumni gatherings in Boston. Text messages among the classmates followed, along with the creation of a Facebook group.

Next, the ringleaders emailed their classmates with a pitch to participate and a link to an Isenberg giving page.

“As recently graduated alumni, we decided that we didn’t have to wait to earn six figures to make a meaningful gift,” Frankie recalls.

The award program also

Bill Hubbard, in conjunction

aims to enhance student

with Tokio-Marine HCC,

awareness of the impact

established an endowed

of risk management, risk

fund with a million-dollar

transfer, and promotion

gift to provide financial

insurance in the sport and

support to Mark H.

entertainment industry.

McCormack Department

“The risk management

of Sport Management

and sport promotion

students who participate in

industry is one that only

internships within the sport

continues to grow, and

and entertainment industry.

touches every single

“Internships are a crucial

segment of the sport and

part of our students’

entertainment industry,”

learning experiences and

says Hubbard, chairman

resume building as they

of Tokio-Marine HCC. “For

prepare for full-time jobs

today’s students, there

within the sport and

can be financial challenges

entertainment industry,”

that arise, especially from

says Janet Fink, chair

unpaid internships. This

of the Department of

program not only helps

Sport Management. “The

alleviate some of these

opportunity to receive

financial challenges, but

substantial financial awards

also introduces students

through Bill Hubbard’s

to our segment of the

generous gift will only

sport and entertainment

further encourage our

industry.”

students to seek out and

The program kicked

engage in internship

off in June 2018 with five

programs.”

student award winners.

PHILANTHROPY

21

A New Look for Isenberg It has been seven years since Isenberg developed a new visual identity. The way people consume communications—especially digital and mobile formats—is changing constantly. We needed to refresh our look to keep pace with these trends and reflect the evolving needs of our school today. This new identity strengthens how we present ourselves to the world by aligning closely with the UMass Amherst visual identity. It also refreshes our beloved “][“ and provides new and exciting ways to show Isenberg pride.

BREAKING ISENBERG OUT OF THE BOX

The “][” in the box presented a design challenge because it was difficult to

CURRENT MARK

incorporate with other components.

A design agency worked with us to thoughtfully reconsider the beloved icon, developing a solution that can be used in new, creative ways that honors the original look of the logo. The examples on this page are just a few ideas—watch out for new Isenberg items coming soon!

22

BRANDING

CURRENT MARK + UMASS AMHERST FONT MINION

SPLIT AND ADDED WEIGHT

ADDED OUTLINES AND REVERSED

BRANDING

23

Funding the Future Generous support from thousands of donors has allowed Isenberg to attract and retain world-class faculty and ascend the U.S. News & World Report rankings in both the undergraduate and online MBA program categories, as well as maintaining the highest Financial Times ranking among online MBA programs in the United States.

We’re grateful to everyone whose investments support the school’s progress. These generous contributions, in addition to the revenuegenerating success of our continuing and professional educational programs, provide us with a solid financial foundation, so we can deliver a best-in-class educational experience year after year.

Philanthropic contributions have been increasing every year as more alumni view Isenberg as investment-grade—this support will continue to be vital as we work to reach a position among the top 20 public business schools in the nation.

U.S. NEWS & WORLD REPORT: U N D E R G R A D U AT E B U S I N E S S P R O G R A M S

0

RANK AMONG PUBLIC INSTITUTIONS IN THE U.S.

20

30

30

2015

2016

2017

27

26

36 40

45 60 2013

#1

FINANCIAL SUMMARY

31

2014

2018 2019

Online MBA in the U.S., Financial Times 2019

S O U R C E S O F O P E R AT I N G F U N D S , F Y 2 0 1 8

$46,687,542 TOTAL ENDOWMENT

50% GENERAL OPERATING FUNDS 34% CONTINUING & PROFESSIONAL EDUCATION

$38,934,398 TOTAL OPERATING FUNDS

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FUNDING THE FUTURE

6% GIFTS AND ENDOWMENT INCOME 9% OTHER PROGRAM INCOME

PHIL ANTHROPIC GROW TH

New Pledges: $3 million New Gifts: $3.5 million Bequests: $2 million

$2.3 million

FY 2015

$6.4 million

FY 2016

$5.8 million

FY 2017

$8.5 million

FY 2018 2 MILLION

4 MILLION

6 MILLION

8 MILLION

10 MILLION

WHO GIVES

ALUMNI : 1,945 STUDENTS: 914 TOTAL DONORS:

3,951

PARENTS: 571 FRIENDS: 275 ORGANIZATIONS: 179 FACULTY & STAFF: 67

FUNDING THE FUTURE

25

Isenberg School of Management | University of Massachussetts Amherst | isenberg.umass.edu