School of Business and Economics
IU South Bend // Annual Review
SCHOOL OF BUSINESS AND ECONOMICS FEATURED IN THE PRINCETON REVIEW’S “THE BEST 371 BUSINESS SCHOOLS: 2010 EDITION” The School of Business and Economics at IU South Bend is an outstanding business school, according to The Princeton Review. The education services company features the school in the new 2010 edition of its book, “The Best 371 Business Schools.” According to Robert Franek, Princeton Review Senior VPPublishing, “We are pleased to recommend the School of Business and Economics at IU South Bend to readers of our book and users of our site, www.PrincetonReview.com, as one of the best institutions they could attend to earn an MBA. We chose the 371 business schools in this book based on our opinion of their academic programs and offerings, as well as our review of institutional data we collect from the schools. We also strongly consider the candid opinions of students attending the schools who rate and report on their campus experiences at their schools on our survey for the book.”
The School of Business and Economics at IU South Bend aspires to be the best regional business school in the nation, recognized for academic excellence and for contributing to the overall development of our region and broader environment. We will achieve this vision by: >> Providing rigorous and relevant programs that are intellectually grounded, innovative, integrative, technologically advanced and global in perspective; >> Preparing students for successful leadership roles; >> Collaborating with stakeholders to align our teaching, scholarship, and service with the needs of the community; and >> Serving as a primary source for creating and applying business knowledge to promote regional economic development.
Produced by Indiana University South Bend Office of Communications and Marketing // Design
Tiffany Goehring, Graphic Designer
// Photographers Matt Cashore Katie Whitcomb
PapeR: RIS 70 lb. Value Silk Note: RIS is a Forest Stewardship Council (FSC) certified vendor and supplies paper from renewable sources.
business
advisory council front row (l to r)
Greg Downes, Chairman, Gibson Insurance Group Steve Brown, Former President, Elkhart Community Bank Susan Magley, President, Magley & Associates Amish Shah, President, Kem Krest
middle row
Larry Lentych, Senior VP & CFO, 1st Source Bank Pat McMahon, Exec. Director, Project Future Tom Hall, Partner, Tuesley Hall Konopa, LLP Perry Watson III, Owner, Lexus of Mishawaka Amy Kuhar Mauro, Exec. VP, CCO, Old National Bank
back row
Michael Kubacki, Chairman, President and CEO, Lake City Bank Larry Davis, President, Daman Products Vivian Sallie, VP & Director of Development, WNIT Public TV
Jeffrey Costello, CFO, Memorial Health System Inc. Jim Hammer, President and CEO, Imagineering Chris Bradford, Partner, McGladrey & Pullen, LLP Thomas Kroll, VP, Corporate Controller, CTS Corp. David Sparks, Owner, KADA Partnership Drew Wilson, Partner, Martin Capital Management Joe Mancini, Partner, Metzger Mancini & Lackner
not pictured
Stephen Ball, President, Pathfinders Robert Bartels, President & CEO, Martin’s Super Markets Terry Bush, Dir. of HR Servs, Kruggel, Lawton & Company Bruce Gobdel, Former Partner, Crowe Horwath, LLP Chris Lauber, Owner, Christine Lauber CPA Phil McPhee, Marketing Manager, Crown International Dick Mellinger, Managing Partner, Northwestern Mutual Life Ins. Charles Miller, CEO, Burkhart Advertising Charles Mitchell, Former COO, KRA International, LLC Chuck Niemier, Retired COO, International Operations Biomet Brandon Siegel, President, Northwest & Northcentral Indiana, National City Bank Bob Wozny, President, Corporate Services Gary Wuslich, VP of Human Resources, AM General
IU South Bend // Annual Review
20
32
School of business and economics 2 18 20 24 32 36 42 46 54 57 58
news & events an international student’s view alumni profile recognitions unsolicited letters lecture series farewells publications // presentations donors in memoriam message from the dean
18
RENOVATION
HONORED FOR
INTERIOR DESIGN The School of Business and Economics is housed in the Administration Building, the gateway to IU South Bend. It is the first building students, parents, prospective students, and visitors enter when they come to the university. Despite the growth of IU South Bend, the interior of the Administration Building had changed little since 1962. That is, until last year. The business school area was renovated to restore new sparkle for future generations of students, faculty, staff, and our community. The renovated business school occupies 15,000 square feet and, for the first time, has a distinct visual identity with its own entranceway. All business faculty members are now united in a single area that, combined with new meeting and learning spaces, forms a modern, enriched educational environment. Offices for 46 faculty members, staff and student aides, three multimedia seminar rooms for small classes and meetings, and attractive common spaces for students and visitors, will accommodate future growth of the school. Recently, one of the conference rooms was updated with cutting edge teleconferencing equipment that will save university leaders from travel to and from out-of-town meetings.
School of business & economics
The architecture, interior design, and construction work in the spaces the business school occupies as well as those that encompass the Administration Building lobby, offices, major conference rooms and other common areas received two distinctions for outstanding design and construction:
2
>> 2008 Michiana Area Construction Industry Advancement Award for Excellence in Construction >> “Outstanding Design� award for interior design by the American School and University Magazine in its August 2009 issue of Educational Interiors Showcase
news & events
RITA JODHARAM HEADS UP FREE TAX PREPARATION PROGRAM
Business students and staff from IU South Bend played a
leadership role by working with the United Way of St. Joseph County, the Internal Revenue Service (IRS) and other community volunteers to provide Volunteer Income Tax Assistance (VITA) to families. This vital program assists families with incomes under $49,000 across St. Joseph County with preparing and e-filing their taxes for free. The VITA program helps families obtain any refunds they qualify for and avoid the rapid return loan fees sometimes charged at paid preparation sites. The initiative was headed by Rita Jodharam, a graduate student in the School of Business and Economics. In 2008 as a senior, she volunteered for an internship at the United Way and then took on a major role in the development of the community’s VITA program, as VITA site coordinator for the 2009 season. She assisted the IRS staff with volunteer training, tax preparation, the quality review processes and transmitting returns to the IRS for the site. The program netted over $278,000 in refunds and savings for local families, an increase of 400 percent over the first year it was run.
With a grant from the IRS, and the assistance of P.N. Saksena, assistant dean and director of graduate programs for the School of Business and Economics, they built a new and exciting program on the IU South Bend campus for the 2010 tax season. Community volunteers joined IU South Bend students on campus on Friday evenings and Saturday mornings to train for the 2010 tax season. IU South Bend hosted four VITA Mega Site days during February and March with the goal of processing 700 returns for students and families from the community. In the spirit of the United Way, IU South Bend truly LIVED UNITED through the VITA program. Other VITA sponsors include: Ivy Tech Community College - South Bend Campus, University of Notre Dame, Downtown South Bend, Notre Dame Legal Aid Students, Community Forum for Economic Development, Housing Authority of South Bend, Battell Center, AFL-CIO Community Service, Bethel Business Machines, Salvation Army of Elkhart, IRS, McGladrey & Pullen LLP, Ardmore Church of Christ, United Way of Elkhart County, United Way of Marshall County and United Way of St. Joseph County and the Tri-County Tax Team.
3
4
School of business & economics
news & events
business and economics
students in top 5%
Across the united states Quality and accountability are deeply held values of the faculty and staff of the School of Business and Economics at IU South Bend. The nationwide Educational Testing Service (ETS) business field examination is taken each semester by all undergraduates and MBAs before graduation. Undergraduates in Spring 2009, for example, tested in the top 5 percent of students from 564 universities across the U.S. In nine of the most recent 14 separate administrations of the undergraduate field test in semesters dating back to 2005, SB&E students have performed in the top 10 percent or better on these exams. MBA candidates tested in Spring 2009 also scored in the top 5 percent of their peers from 199 universities across the nation. In seven of the most recent fourteen administrations of the MBA field test in semesters dating back to 2005, SB&E students have scored in the top 10 percent or better of test takers.
A billboard campaign featuring students’ achievements on the ETS exams is being run in the region with the support of Burkhart Advertising.
5
BUSINESS STUDENTS STUDY PLYMOUTH COFFEE SHOP By Kathy Borlik
Take a small business that needs direction and add six IU South Bend business students with lots of ideas. These are the ingredients for an interesting spring semester in W408, Small Business Practicum. Java Trail, 110 W. LaPorte St., Plymouth, is owned by Sandi and Ed Madden. It is one block off the main street at the southern edge of the town. The coffee shop has a comfortable, homey feeling and is furnished with big chairs, small tables and a fireplace straight out of an interior design magazine. Back in 2002, Ed had been downsized and moved around in several businesses. The couple decided to make use of Ed’s baking skills and open a coffee shop adjacent to a friend’s bookstore. Ed remodeled the area and opened the shop in 2002. They have been busy but have not seen growth. They approached Indiana Small Business Development Center Associate Director Jim Gregar for pointers. The Maddens wanted advice on opening a second location in St. Joseph County. Next to enter the scene was Christine Pochert-Ringle, associate faculty member teaching small business practicum. She was looking for a business for the class project. Gregar had the match. Gregar said the students always have ideas and are anxious to apply the concepts they have learned. “They build relations with the business people and often do follow ups – sometimes years later.” The six students, Jeffrey Kemp, of Bristol; Jared Lynch and Jordan Lynch, both of South Bend; Allison Hensley, of Mishawaka; Tory Schirripa, of Granger and Marcus Scholten, of Elkhart; looked at marketing, internal processes, financials, and customers.
School of business & economics
Some of the students drove to Plymouth to study the lay of the land. They distributed flyers around the town, worked on a Facebook page for the shop, and updated a Web page. They examined the workload and the couples’ time behind the counter. They looked at seating and what could be improved.
6
Recognition was one of the first items to improve. The students found that although the shop is a half block from the main street, some neighbors had never heard of it. The flyers worked and people came by to buy. Becky Jordan and Jesse Becker enjoyed their coffee one Saturday. “We live one block over and we had no idea this was here until we got a flyer on my car window,” Becky said. “We like it. It is just what we needed.” One Saturday morning, the Maddens were busily ending up their day with the final crush of coffee orders. Sandi said she was happy with the early results. “They have a different energy, a different perspective. They have fresh ideas. We’re technically challenged, so they have been great help with the Facebook and Web site.” Sandi has been impressed with the time the class had given to their shop. “We’ve always been visionaries with ideas but they’ve come in with a new energy.”
news & events
CTS CENTER PROJECTS ASSIST REGIONAL ORGANIZATIONS
The CTS Center for Experiential Education (CTS-CEE), under the leadership of its director, Ganesh Vaidyanathan, associate professor of decision sciences and director of the MS MIT program, continued to work on projects that benefit organizations in the region. The work is conducted by business students and supervised by faculty. An assignment for Project Future, Inc., the economic development arm of the St. Joseph County Chamber of Commerce, involved design and implementation of an annual web-based survey of wages and benefits. The student team developed the online survey form, captured the results in a database, and developed a report. The benefits of the project were explained by Bill Wilson, Project Future’s communications and marketing manager who wrote: “I’m writing to express appreciation for the assistance of the CTS-CEE program. Without their help, the 2009 edition of Project Future’s annual survey of wages and benefits for the Michiana area would have been much more difficult, if not impossible, to complete. Project Future has conducted this survey for several years, manually tabulating data from printed forms. It was decided in 2009 to move the survey online and work with the CTS-CEE program to devise a way to generate reports from the data. The center tested and revised the reporting engine and also worked with interns based at Project Future to complete the needed reports. Our partner economic
development agencies and the survey participants seem to be pleased with the results.” Another project was conducted for the LaSalle Council of the Boy Scouts of America and its aim was to analyze the current funds and financial position of the organization. CEO Patrick Bridges, LaSalle Council of the Boy Scouts of America, shared his assessment of the work done on this project: “The student summer project with the LaSalle Council, BSA was needed and appreciated. As you may know, we are under great pressure to balance our budget. The student’s mission was to assist the council in looking at existing and new ways to increase the funding with a focus on marketing and planning. I am happy to report that the student’s involvement and leadership here has helped bring us some new and needed ideas and methods in fundraising through the Internet and social networking. This was the direction we actually hoped would happen after the extensive review of our marketing, fundraising programs and methods. Thus, we are now ready to embark upon a new journey in marketing and fundraising to help support the mission of scouting and the families in the Michiana area. Thank you to IUSB for your support in having a student join us to help improve our community and youth while strengthening his learning curve in a different environment.”
7
(L to R) Alex Wait, Carl Case, Marc Rose, and Voy Marcznski
KEM KREST ENTREPRENEURSHIP COMPETITION AWARDS
School of business & economics
The 2009 Kem Krest Entrepreneurship Competition, in its second year, included student projects submitted from an undergraduate entrepreneurship course (taught by Staci Lugar Brettin) and a graduate entrepreneurship course (taught by Christine Pochert-Ringle). The competition is coordinated by Professor Mark Fox, and generously supported by Kem Krest Corporation, a leader in supply chain management located in Elkhart.
8
Twelve projects were evaluated for the competition at the undergraduate level. Each was evaluated by a panel of three expert judges drawn from the following business leaders who gave their time: Stacey Ball, Michael Bergin, Larry Davis, Renee Hayes, Carrie Hille, and Charlie Mitchell. There were four prize winners:
First Prize
>> Alex Wait – Place for Parts; a web-based business specializing in parts for agricultural tractors and machinery ($600) >> Voy Marcznski – SBTownrides.com; a web-based service to facilitate communication between college students who wish to share transportation to their hometowns or elsewhere ($600)
Second Prize
>> Marc Rose – Lean Ventures; an educational and management advising firm focusing on business performance ($500) >> Carl Case – Crossfit Gym; a gym with a unique approach to physical fitness ($500) Graduate projects were initially evaluated in class by Todd Bruce, a vice president with Lake City Bank. Then, two projects were submitted for consideration in the competition. These projects were reviewed by business leaders, Charlie Mitchell and Larry Davis. One project involved more of a community concept and was sent to a non-profit expert, Georgette Dumont. The graduate program prize winners were: Rebecca Bartol, Nick Becker, Vlad Sorokin, Matthew Turner — Funky Monkey; a t-shirt design company ($800) Each year, examples of student projects, along with the valuable comments of judges, are retained to serve as models of best practice for future students.
news & events
BUSINESS SCHOOL PARTNERS WITH BURKHART ADVERTISING ON EXECUTIVE EDUCATION Charlie Miller, chief executive officer at Burkhart Advertising, and School of Business and Economics dean Rob Ducoffe, started talking about executive education some time ago. Miller gave the dean a large folder filled with brochures from universities and for-profit executive education vendors that he’d collected and suggested that the business school consider getting into this space. The two met with chief executives and senior officials at several of the region’s major institutions to assess their needs and the dean sought the input of the School’s Business Advisory Council, of which Miller is a member. “Our belief,” the dean explains,” is that there is an underserved market for high quality, executive education seminars at prices that regional profit and non-profits can afford.”
BUSINESS GRADS PASS CERTIFIED PUBLIC ACCOUNTANT (CPA) EXAMINATIONS The CPA exam is known as a high-stakes and particularly challenging professional exam. Along with education, and practical work experience, it is a key component to CPA licensure. The list below contains the names of individuals who studied at IU South Bend and passed the exam in 2008. “Their accomplishment represents much hard work on their parts as well as the expertise and caring of the faculty they studied with in the School of Business and Economics at IU South Bend,” according to area chair of accounting, professor Peter Aghimien. >> Abaza, Osama – Granger >> Allsop, Adam – South Bend >> Busenbark, Sharon – Granger >> Butts, Tabitha – Mishawaka >> Cao, Xiaoyu – Carmel
To move the initiative along, the leadership group at Burkhart is participating in a series of five, two-day seminars to be offered by business school professors. “The Burkhart team,” the dean explains, “is serving as our test group, giving us feedback that we’re using to develop our program of seminars.” Thus far, two have been offered, one focusing on strategic cost management taught by Professor P.N. Saksena, and the other on maintaining superior performance taught by Professor Murali Chari. Both were well received by the engaged executives from Burkhart who stayed well beyond the seminar’s scheduled end on one Friday afternoon to energetically continue their discussions.
>> Collier, Crystal – South Bend
As part of their agreement, Burkhart Advertising has been featuring the outstanding accomplishments of business school students on the Educational Testing Services (ETS) exit examinations on billboards in our region.
>> Kuruzar, Kevin – Fishers
>> Cook, Misty – Elkhart >> Crouch, Charissa – Jeffersonville >> Cummins, Matthew – Elkhart >> Feldman, Mark – Elkhart >> Good, Adam – South Bend >> Hayes, Renee – South Bend >> Hooper, James – Noblesville >> Jaarda, Michael – Osceola >> Murray, Ruth – Norcross, GA >> Nally, Mary – South Bend >> Pozgay, Eric – Mishawaka >> Rodriguez, Brandelyn – South Bend >> Stonewall, Yolanda – Fishers >> Swank, Kristin – Granger 9
School of business & economics
Did you Know...
10
two professors in the School of Business and Economics are expert bridge players? Professor of finance, Raj Kohli, and associate professor of accounting, Dave Fred, are well known for their skills. Raj hosted the American Contract Bridge League tournament at IU South Bend in summer 2009 and, Dave, while no longer actively competing, is known to have been one of the top-ranked players in the country during his hey-day.
news & events
DOUGLAS SINGH PUBLISHES THREE BOOKS ON HEALTH CARE
It’s been a busy year-and-a-half for associate professor of management, Douglas Singh, whose efforts have led to the publication of three books on health care, two of them with coauthor, Leiyu Shi, of Johns Hopkins University. Professor Singh teaches courses in health care delivery, policy, finance, and management in the business school and spent over 15 years in health services management positions and as a licensed long-term care administrator in four states. Here’s the way his publisher, Jones and Bartlett Publishers, describes each of these works. Effective Management of Long-Term Care Facilities, Second edition, Jones and Bartlett Publishers, 2010, 652 pages. Today’s long-term care facility is a complex organization that must comply with numerous laws and regulations while delivering high-quality services and connecting with the community and other stakeholders. Effective Management of Long-Term Care Facilities, Second Edition, explores the day-to-day operations of the long-term care facility and provides critical skills to current and future long-term care administrators for delivering quality, cost-effective services.
Delivering Health Care in America (with Leiyu Shi), Fourth edition, Jones and Bartlett Publishers, 2008, 649 pages, provides a comprehensive overview of the basic structures and operations of the U.S. health system, from its historical origins and resources to its individual services, cost, and quality. Using the unique “systems” approach, it brings together an extraordinary breadth of information into a highly accessible, easy-to-read text that clarifies the complexities of health care organization and finance, while presenting a solid overview of how the various components fit together. Essentials of the U.S. Health Care System (with Leiyu Shi), Second Edition, Jones and Bartlett Publishers, 2010, 360 pages. From the best-selling authors of Delivering Health Care in America, this book offers the most concise and accessible introduction to the U.S. health care system. Essentials of the U.S. Health Care System uses a unique systems approach that clarifies the complexities of health care organization and finance and presents a solid overview of how the components fit together.
11
Mock Interviewers in Fall 2009 Tammy Carr // Owner Talent Source Staffing Gregory S. Downes // CEO Gibson Insurance Group
School of business & economics
Sara Ermeti // Director of HR IU South Bend
12
Lori Gotha // Owner Simplified Search Stacey M. Grooms // Branch Manager Peoplelink Staffing Solutions Rhonda Heffelfinger // Manager of Billing North Central Neurosurgery Paul R. Laskowski // Executive VP Chamber of Commerce, St. Joseph County Dee MacKenzie // HR Manager Notre Dame Federal Credit Union
news & events
SOCIETY FOR HUMAN RESOURCE MANAGEMENT (SHRM) REBOOTS The purpose of the IU South Bend Chapter of the Society for Human Resource Management (SHRM) is to increase students’ knowledge in the area of human resources. According to Pam Zarazee, faculty advisor and lecturer in human resources management, “Our final goal is to help students to realize that human resources is for everyone, no matter what major they are currently seeking or what their ‘dream job’ may be.” She explains, “Our intent is to diversify our recruitment efforts to reach out to students throughout our campus.” Membership in the SHRM chapter at IU South Bend is open to all students that have an interest in human resources. There are no dues requirements or strict attendance policies. Members are allowed to attend as many meetings as their schedules permit. SHRM does not deny membership on the
basis of race, creed, religion, gender, age, sexual orientation, national origin, marital status, parental status, or disability. The IU South Bend Chapter of SHRM board met several times in 2009 and had seven fascinating presentations. The most recent meetings included an expert panel discussing healthcare reform, cobra updates, and USERRA laws with more than 130 students in attendance. The chapter continues to improve and gain student interest, attendance at its events, and membership. Professor Zarazee says, “I am proud to be a part of it.” The chapter also planned three presentations for the spring 2010 semester.
“our final goal is to help students to realize that human resources is for everyone, no matter what major they are currently seeking or what their ‘dream job’ may be.”
PAM ZARAZEE PUTS HER STUDENTS IN THE HOT SEAT Before coming to IU South Bend as a lecturer, Pam Zarazee held executive positions in human resources management with several of the region’s premier organizations. She knows how crucial it is that students fully prepare themselves for their job searches to compete for the best positions when they graduate. To help them appreciate what is expected, Zarazee runs a mock interview program in her undergraduate career planning courses that pairs each student with an executive for a simulated job interview.
The feedback students receive from individuals on the hiring side is eye-opening. It’s also a good way for business leaders to take the measure of business students at IU South Bend. Greg Downes, chairman of Gibson Insurance, said of his involvement as a mock interviewer, “…I always enjoy doing that, and you should be very proud of the quality of the your students.”
13
(L to R) Brittany Davis and Deborah Davis-Flickinger
ACCOUNTING ASSOCIATION ADDS VALUE TO BUSINESS PROGRAMS It is no surprise that the accounting classes at IU South Bend do an excellent job teaching the rules of accounting. Deborah Davis-Flickinger, this year’s president of the Accounting Association, explains the goal of the Association is to serve as “an important supplement to the education students receive by helping them learn what to do with the degree once they have it.” There are countless opportunities in the field of accounting and the Accounting Association increases students’ exposure to these opportunities and helps them explore career options through regular meetings each semester.
Andrew Ewald
The Accounting Association kicked off a busy fall semester with a meeting that was co-sponsored with the Student Government Association. Open to all, it provided free financial information relevant to college students. The first official gathering of the Accounting Association involved dean Rob Ducoffe and members of the faculty from different disciplines offering ideas on alternative majors or minors that fit well with an accounting degree. Other meetings featured a panel of alumni who work in private accounting and a panel of representatives from public accounting firms. These enabled students to learn more about accounting opportunities in different sectors and to network with executives. During the fall, students were encouraged to participate in training for VITA (Volunteer Income Tax Assistance), which provides an excellent opportunity to give back to the community. Also, a four-member team from IU South Bend was one of 13 teams who participated in the INCPA Society Case Study Competition this year.
School of business & economics
Anlin Wang
14
In the spring semester, the Accounting Association hosted special agents from the Internal Revenue Service who exposed students to government accounting and the non-traditional role of the special agent. In addition, students received resume and interviewing tips from Creative Financial Staffing, while Becker Professional Education provided an overview of the CPA and CFA exams. A representative from the INCPA Society was the featured speaker at the year-end banquet that was attended by members, guests, and faculty. The Accounting Association offers free pizza and pop at all of its meetings. As Deborah explains, “Our meetings are meant to offer informal opportunities for students to talk and interact with each other outside of the classroom. Students love pizza which helps get things going.” The Accounting Association board consisted of Deborah Davis-Flickinger (president), Anlin Wang (vice-president), Brittany Davis (secretary), and Andrew Ewald (treasurer). As faculty advisor, P.N. Saksena is a vital part of the Accounting Association offering support, knowledge, encouragement, and great advice! For more information or to get involved, contact P.N. Saksena at psaksena@iusb.edu.
news & events
RAPPIN’ WITH THE ADvertising AND MARKETING CLUBS
The Advertising Club received a an electronic display kiosk valued at about $3,000 from Jim Hart of Granger and is planning to use it to display information on Advertising and Marketing Club activities, case competitions, to promote the advertising and marketing majors, and as a fundraiser via ad sales. Current plans are to display the kiosk in the Student Activities Center (SAC) and club members have drawn up a plan to sell ad space to local businesses. The Marketing Club took the lead in organizing a student event that the SAC staff requested become an annual event. A student mini-Olympics, or world cup, featuring competitive events, such as basketball, corn-hole, quarters, indoor soccer, dodge-ball, and vault-pong is planned. The idea is to use these intramural matches to promote engagement among IU South Bend students and build awareness. Club members are scouting the area for event sponsors to underwrite prizes, assist with event expenses, and other approaches for raising funds to get this great initiative off the ground. Always busy, members of the Marketing and Advertising Clubs organized, “Stop! Drop! and Read!”, a community event encouraging
parents to read to their children through play. The kids pick up the habit of reading when it is merged with fun physical activity. Another club initiative, Zoo Boo, was staffed by students and helped build community involvement through donations of candy that are distributed to kids at the zoo. At club meetings, guest speakers talk about career choices and new opportunities. One guest, Alex Banday, a graduate of both the BS and MBA programs from IU South Bend and a former marketing and advertising major, talked to students about the importance of taking informed risks in their careers, completing their educations, and pharmaceutical sales. Banday is in sales with Abbott Nutrition. The president of the Advertising Club, Tim Vogel, wrote and performed a heart-pounding promotional rap song for both clubs and has plans to do the same for the School of Business and Economics in the coming months. Students and faculty look forward to enjoying Marketing Club advisor, Professor Monle Lee, and Ad Club advisor, Professor Anurag Pant, dance to the music!
15
School of business & economics 16
ECONOMIC FORUM HOSTS SESSION ON THE GREAT RECESSION By Douglas Agbetsiafa, professor and area chair of economics
news & events bradley Schiller opened his lecture with the statement, “the Schiller commented that the pickup in consumer spending had less to do
Great Recession is over,” and explained that it was a hard proposition to swallow with gross domestic product (GDP) contracting and unemployment still climbing. But, he noted signs that the economic bottom has been reached. Consumer spending, for example, was up 2.2 percent. Dragging the GDP down had been a sharp reduction in inventory and equipment investment and a drop in government spending. There would not be another drop in government spending anytime soon, thanks to the massive stimulus bill tagged at $787 billion and a budget of $3.5 trillion that Congress approved. He explained that businesses cannot keep drawing down inventories if consumer spending, which accounts for nearly 71 percent of GDP, keeps rising. But, Schiller explained, the end of a recession doesn’t mean a sudden boom. It simply means GDP stops contracting. He wondered whether forecasts were fueled by false optimism. In the early stages of the Great Depression there was lots of false optimism. In the wake of the stockmarket crash, President Hoover asserted the U.S. economy was “on a sound and prosperous basis.” Such false optimism also was evident in early 2008, when Federal Reserve Chairman Ben Bernanke assured Congress there would be no recession that year.
By historical standards, the Great Recession of 2008-09 was never in the same league as the Great Depression nor even “great” by modern standards. There have been 12 recessions since World War II. In nine of them, the GDP decline was steeper than the 2008-09 contraction. This recent recession was therefore not markedly different from the norm. What was different, however, was the policy response. At the outset of the Great Depression, the president tried to balance the budget and the Federal Reserve was reining in the money supply. At the outset of the 1980-81 recession, the money supply was tight and the president-elect was railing against “massive” deficit spending. The policy environment now is dramatically different. The Federal Reserve opened the monetary floodgates and drove short-term interest rates down to nearly zero. Congress authorized a massive increase in government spending. Former Fed Chairman Alan Greenspan used a formula for computing the spending response to interest-rate cuts with every basis-point reduction in long-term rates triggering a $10 billion spending response. With rates having fallen by roughly 16 basis points since early 2008, this translated to $160 billion in additional spending. The drop in oil prices buoyed consumer spending as well. With oil in the $50-per-barrel range, consumers had another $140 billion to spend on other products compared to what they had available when the per-barrel price was at its highest. Consumer incomes were also sustained by the extension of unemployment benefits.
with the current Administration stimulus package and more to do with the monetary stimulus, which had been in the pipeline before Congress started debating a fiscal “rescue.” The oil-price plunge had occurred already as well. He explained that the Congressional Budget Office observed that just 20 percent of the Administration’s infrastructure “stimulus” occurred in 2009. Moreover, he maintained, few will make impulse purchases with “Making Work Pay” tax cuts at $8 to $13 per week. The Obama stimulus package boosted spending, but not before the recession was over. Among the sources of evidence the recession was over, Schiller pointed to the uptick in consumer spending as key, encouraging retail sales data, increases in consumer confidence, and a reduction in initial jobless claims. Other evidence, he mentioned, included the dramatic increase in pending home sales, accompanied by higher prices in California and other important areas, and the surge in the stock market, a sign of heightened expectations that may translate into increased investment. Schiller cautioned the audience saying that, even if the recession has ended, the nation still faces economic problems. Unemployment will continue to rise until businesses feel confident enough to start hiring again. With the labor force growing at one percent a year and productivity at two percent, GDP must grow by three percent before unemployment starts to decline. Furthermore, as GDP growth resumes, policy makers would have to pay more attention to the risk of over-stimulus and resurgent inflation. Schiller mused, “at least we’ll be able to say we survived yet another short-term recession. Government statistics do not reveal recessions until months after they begin, nor do they register a recession’s end until months after the fact.“ This lecture was co-sponsored by the IUSB Economic Forum, McGraw-Hill Book Publishers, the Economics Department, and the School of Business and Economics. __________________ Bradley Schiller, is a prolific author, speaker, consultant, and a professor of economics at University of Nevada, Las Vegas. Professor Schiller has over three decades of experience teaching introductory economics at the University of Nevada, American University, the University of California (Berkeley and Santa Cruz), and the University of Maryland. He has given guest lectures at more than 200 colleges from Fresno, California, to Istanbul, Turkey. Schiller has extensive experience as a Washington consultant to most major federal agencies, many congressional committees, and political candidates. In addition, he has evaluated scores of government programs and helped design others. His studies of discrimination, training programs, tax reform, pensions, welfare, Social Security, and lifetime wage patterns have appeared in both professional journals and popular media. Dr. Schiller’s unique contribution to teaching is his ability to relate basic principles to current socioeconomic problems, institutions, and public policy decisions.
17
AN INTERNATIONAL STUDENT’S VIEW By Dave Andedo
We live in a competitive world, growing both By mid-2009, my friend, Essay Worobo, came up with the idea
School of business & economics
technologically and socially. In my view, the growth of innovation is increasing at a greater rate than our ability to understand it. Therefore, higher education is a necessity to cope with and to adjust to today’s world. There was a time when a high school education was enough to ensure an individual a spot in a business firm. Today, a bachelor’s degree may not be sufficient. With this in mind, in 2008 when I came to IU South Bend, I decided to expose myself to different aspects of learning outside the classroom realizing that knowledge and learning is not confined to classrooms and professors alone. I got involved in extracurricular activities. I joined the International Student Organization, thanks to Felix Marquez, who showed me its benefits. It became my first social experience away from my home in Kenya. The Club opened my eyes to different experiences and diverse cultures that occupy the campus and country as a whole. I was voted in for the vice presidency of the Club.
18
I decided to branch out by getting involved in a businessoriented activity, in tune with the reason I came to IU South Bend to pursue a business degree. I joined the Accounting Association where I have learned what accounting entails from visitors who come to talk about their experiences in the field. In addition, I became a member of the Marketing Club where I am learning how to market organizations, events, and myself as an individual. In Fall 2009, I was appointed vice president of finance and treasurer of the Marketing club. I then joined the Pan African Student Union to enjoy, re-live, and learn from my fellow Africans from different cultures that attend our campus. Now, with experiences from other clubs, I was appointed to be in charge of marketing and publicity for this club.
of extending our help out into the community instead of limiting ourselves just to the campus. Essay, Chris Friar, Noreen Ncube, Elsa Chu, and I created a club known as the International Students Volunteer Club which is mainly involved in volunteering, helping and serving the South Bend community. Involvement in these clubs and networking with other students and prospective employers, has helped me gain experience in handling myself in various situations. It has improved my communication skills as well. These skills are essential for college students to acquire, especially those trying to go into the corporate world. My most recent endeavor, for which I owe the opportunity to my advisor, Patricia Agbetsiafa, and Professor Randall Issacson, is peer mentoring. They gave me the chance to share my views and experiences with incoming students to help them adjust to college life. I learned a lot from working with different students. I thought they were learning from me, but actually I learned a lot about myself because the program pointed out my weaknesses and I used the feedback from my peers to understand them as well as further develop my strengths. My view on education is based not just on what we get in the classroom but also incorporating knowledge and influences of the people around me. Socializing and networking has given me a different take on what it means to be a college student. Yet, the major influence in my life is my father. He may be far away, but his words and advice are always close. My siblings have steered me towards the right path as well. In fact, five of my siblings and two in-laws have graduated from IU South Bend! I take their advice dearly because they were where I am today.
“Involvement in these clubs and networking with other students and prospective employers, has helped me gain experience in handling myself in various situations. It has improved my communication skills as well.”
news & events
19
School of business & economics
Isaac Torres is owner and president
20
of Inter-Cambio Express, a company specializing in wiring funds to Mexico, Central America, South America and the Caribbean that he started in 1999. In 2008, the Indiana Small Business Development Center recognized Inter-Cambio Express in its inaugural class of “companies to watch.” Isaac earned his MBA from the School of Business and Economics at IU South Bend in 2000. From 1990 – 1995, he was controller for Herberts Mexico, S.A. (a Hoechst AG Company), and from 1986-1990, a senior auditor with PricewaterhouseCoopers in Mexico City. In February 2010, Torres responded to questions from dean Rob Ducoffe in the following interview.
alumni profile RD: Please tell us a bit about yourself, your family and your background. IT: I am from Mexico City and came to the United States in 1995. I came to the U.S. as an international student to get a graduate degree. When I arrived, I didn’t know anyone here. I was a CPA in Mexico and, before studying to get my graduate degree here, I worked in Mexico for PricewaterhouseCoopers. I now live in Goshen with my wife and three children. RD: Can you describe what Inter-Cambio Express does? IT: Inter-Cambio is a money transmitter company. We transfer money from the U.S. to Mexico, Central and South America. Our headquarters are located in Elkhart but we have locations all over the Midwest. Currently, we operate in more than 15 states in over 1,000 locations. Although a few of these locations are company-owned, the majority are franchises that use a high security Web-based system to carry out their money transfers. RD: What roles do you play at Inter-Cambio? IT: At the beginning, I did everything because we started as a very small company. As Inter-Cambio has expanded over the years, we have hired more people in order to keep up with our growth and, in doing so, we have created different departments of the company and delegated a specific role to each area. Currently, I am the president of the company and have a great executive staff that works alongside me in the areas of IT, sales, compliance, operations and finance. RD: Could you comment on the key aspects of your business philosophy? Have these changed over time? IT: Our philosophy is to be the best value in the money transfers industry. The idea of Inter-Cambio Express grew out of a desire to provide inexpensive rates for the low income population who not only have to pay their bills and provide for their families here in the U.S., but also send money to Latin America to cover the basic needs of their relatives and friends as well. For example, in the Central American country of El Salvador, the remittances that are sent from the United States make up 17 percent of the national GDP and are the secondlargest source of revenue for the country. It is estimated that 22 percent of families in El Salvador receive remittances from the United States. That is to say, we consider our business a necessary service for many families who literally live off the money that is sent to them from the U.S. The other key philosophy that we value highly is our adaptability and the dynamic nature of our company. For example, many people think
our company only caters to the Mexican population, but in Minnesota, for example, there is a high concentration of Ecuadorians. In order to adjust our business to also serve that population, we built relationships with financial institutions in Ecuador and directed a sector of our company to money transfers in Ecuador. This is just one example of how we always strive to adapt to meet the needs of our customers. I consider another key philosophy is our ability to listen to our clients. We are always close to our franchises and we keep our ears and eyes open in order to make any necessary adjustments. This dynamic allows for continued communication and builds strong relationships between Inter-Cambio and its franchisees. RD: How would you describe yourself as a business person? Do you have a particular set of values or a style? IT: My philosophy as a business man, which also defines the philosophy and the way in which Inter-Cambio Express is run, is based on the following 10 values: 1. Team work 2. Strong work ethic 3. Integrity, honesty and fairness 4. Diversity and change 5. Innovation and individual creativity 6. Cost awareness 7. Fun work environment 8. Passion for customer service excellence 9. Open doors at all times 10. Give back to the community I would say that the culture of our business emulates that of Southwest Airlines in the sense that our employees have fun while they work, we are a very cost conscious company, and always seek to be as efficient as possible. All of this is carried out through teamwork and passion. RD: What kind of student were you? IT: I wouldn’t consider myself an excellent student, but I always tried to focus my energy in a variety of areas. I thoroughly enjoyed my years at IUSB because in addition to my studies, I was able to make friends with people from all over the world and study in a culture that was different from my own. For me it was important to be well-rounded and experience everything that was offered to me, both inside the academic realm and out. Another aspect that helped me as an international student was my desire to participate in class. Despite the fact that my English was far from perfect, both in my pronunciation and my ability to fully express 21
myself, I tried not to shy away from participating in class. This helped me both integrate myself into the classroom environment and improve my English language skills. An example of this would be the first paper that I turned in to professor Bruce Wrenn for my Marketing Management class. My professor returned the paper to me with lots of red marks highlighting my grammatical errors. Nevertheless, my essay was put in the reserved material section at the library because of its concepts and ideas. For me this was proof that regardless of my less than adequate English skills, the concepts that I portrayed in my essay shone through well, despite the red marks on the paper. RD: Where were you in your career when you decided to go to IU South Bend? When you think back on your experiences at IU South Bend, does anything else stand out in your mind? IT: After working with PricewaterhouseCoopers, I was offered a job with a good salary and great benefits with a German transnational company in Mexico. I was content working there and was in a very stable time in my career. As far as the career of an accountant goes, I was on the path to success. However, after a few years of working with the German company, I was seeking a promotion and interviewed for a higher position. Out of many applicants, I was chosen among a lucky few as one of the top candidates. Unfortunately, I wasn’t chosen for the position solely because I didn’t speak English or German. In this moment I realized that my career would be severely limited if I didn’t learn to speak another language, namely English. It was during this time that the possibility of studying abroad seemed like a great opportunity and fortunately things fell into place with IU South Bend.
School of business & economics
RD: Can you pinpoint a time in your life when you made the decision that you wanted a business career.
22
IT: A few members of my family have had small businesses and, in this sense, the business world has never been something completely foreign to me, despite the fact that none of my family members have had grand success. I suppose it was from this family background that the idea of someday having my own business came about. Then in 10th grade, which in Mexico is the time when you begin to narrow down your future career path, I was faced with the big decision of determining exactly what I wanted to study for the remainder of high school and into college. I eventually decided to head down the path to pursue further education in the business world with the dream to someday have my own company and the motivation to work hard to make that dream into a reality. One of my advisors suggested that to one day own my own business, I should study either business or accounting. A career in accounting appealed to me and I decided to pursue it. When I began working
for PricewaterhouseCoopers, I loved the world of accounting and, for a while, the idea of having my own business seemed to fall off my radar screen. My decision to study at IUSB wasn’t based on the idea of developing my own business, rather my intention was to continue to refine my management skills and later return to Mexico to a higher corporate position with a transnational corporation. However during my Marketing Management class at IUSB, the idea of owning my own business revealed itself again through the opportunity that I was given to examine in detail what it would take to create my own business. I think that my Marketing Management class was the spark that rekindled the fire and got me thinking again about the idea of starting my own business. RD: Was there a setback or challenge in your career with which you had to deal that was significant in the success you’ve enjoyed? IT: A setback that comes to mind is when we lost a key member of our company who directed the IT department. What made the loss even more difficult for us was that a competitor to Inter-Cambio Express offered him a position and he left our company suddenly and without warning. It was a big loss for us and we struggled to keep up in the period after he left because of the immense knowledge of the system that he took with him that was very difficult to replace. However, from every setback you learn something new. We eventually recovered from that loss and fortunately found a strong replacement which has allowed us to get things running smoothly again. Through that experience, we’ve now tried to organize our staff in such a way that Inter-Cambio isn’t affected so dramatically by the loss of one member of our team. RD: You’ve had the kind of success few people have in a career. Do you have any hints for the rest of us? IT: This might sound cliché, but I think to accomplish something in life, whether in business or in another area, the first thing you must do is believe in yourself, accept your gifts and acknowledge your weaknesses. For example, I am an accountant which helped me set up the internal controls for Inter-Cambio Express. However, the first few people that I hired when I was starting the business was a person with expertise in IT and another in sales because I realized these were my weak points. Even today I am convinced that the success of Inter-Cambio is based around our diverse, yet unified team of passionate and smart individuals that has helped us grow in double digits over the last 10 years. Well, for the last nine years because last year was only 9.42 percent. RD: Many people who read this will be either undergraduate or master’s students in business at IU South Bend. Do you have any advice for students?
Inter-Cambio Leadership team: (L to R) Christian Velazquez, BS’01, Anita Knudtsen, Ed Manteuffel, Isaac Torres MBA’00
alumni profile
IT: As Henry David Thoreau said, “Go confidently in the direction of your dreams. Live the life you have imagined.” I think there is a lot of wisdom in this quote. I believe that if you live life day by day doing what motivates you, you can achieve whatever you put your mind to. Specifically, for international students who speak English as a second language, my advice would be not to let deficient language skills get in the way of what you want to accomplish. Be confident in your ability and don’t be afraid of making mistakes. As I have learned in my years here in the United States, the ability to converse in English is essential. I wouldn’t have gotten to where I am today if I hadn’t learned English. However, after living here for 15 years, I realize that one never stops learning a language, especially English. RD: Do you have any thoughts on what business schools should be doing to strengthen their programs?
was the advice that I received from various professors, especially my Marketing Management professor, Dr. Bruce Wrenn, who was the first to suggest that I convert my term paper into a functioning company and Dr. Peter Aghimen, who provided me with invaluable guidance about, setting my chart of accounts and other accounting system elements. Although I did have accounting experience before coming to the U.S., I had never lived here and wasn’t familiar with the differences between the accounting worlds in Mexico and the United States. So, if I could give business schools any advice about how to strengthen their programs, it would be to provide students with specific courses and information about how to go about starting their own company. I have seen IU South Bend begin implementing this kind of material into their curriculum and I foresee this being beneficial for IU South Bend, its students and the community. RD: Thank you very much, Isaac.
IT: A crucial part of the beginning stages of Inter-Cambio Express 23
distinguished
recognition
& award winners
LARRY LENTYCH RECOGNIZED WITH DISTINGUISHED ALUMNUS AWARD For significant contributions to his profession and to the community, the School of Business and Economics presented its alumnus, Larry E. Lentych, with the Distinguished Alumnus Award on April 19, 2009 at its annual Honors Luncheon at Windsor Park Conference Center. Larry Lentych is the chief financial officer of 1st Source Corp., a $4.5 billion bank holding company located in northern Indiana. He has worked in this capacity since 1991 and has been employed by 1st Source since 1974. As the chief financial officer, Lentych is a corporate officer of 1st Source and reports to the chief executive officer. He oversees corporate financial strategy, administrative services, accounting functions within the corporation, financial analysis of acquisitions, and taxation and tax consequences of corporate decisions.
School of business & economics
Lentych earned his certified public accountant designation after graduating from IU South Bend in 1969 with a BS in Business degree in accounting. He initially worked for Price Waterhouse as a senior accountant for five years, supervising field work for major audit clients, specializing in the finance industry.
24
Lentych is an active alumnus, serving on the IU South Bend Board of Advisors, on the Business Advisory Council of the School of Business and Economics, on the Board of Directors for the Alumni Association and on the Arts Foundation. He is also the treasurer of the Indiana University – Notre Dame Medical Education Foundation, serves on the Board of Directors and the Finance Committee of United Health Services in South Bend, and is a member of the South Bend Rotary Club.
recognition
LEWIS S. ARMSTRONG AWARD TO JEFFREY M. WELLS For distinguished achievement, leadership, and contributions to the advancement of business and the quality of life in Elkhart County, dean Rob Ducoffe presented the Lewis S. Armstrong Award for 2009 to Jeffrey M. Wells. Wells is truly a business and community leader. He is president and chief executive officer of Wells Cargo, Inc., and ex officio board member and past president of the Varsity Club National Board of Indiana University. Other leadership roles he currently holds include board memberships of the Elkhart General Hospital Foundation, RAP (Regional Approach to Progress), Middlebury Hardwood Products, and Tom Arnold and Associates. He is a member of Elkhart Rotary Club. He was board member and past president, Elkhart General Hospital, board member of First National Bank of Elkhart, Ameritrust National Bank, and Key Bank, board member and past president of the Elkhart Chamber of Commerce, board member of ADEC, board member and past president of Elcona Country Club, and a trustee of First Presbyterian Church. He is a native of Elkhart, graduated with a B.S. in business from Indiana University and served in the Indiana National Guard. Wells and his wife Phid – Armstrong Award winner in 2003 – have two daughters, Allison Gritton and Hilary Barrett, and four granddaughters.
25
School of business & economics
DR. LESLIE BODNAR WINS E.M. MORRIS AWARD
26
For distinguished achievement, leadership, and contributions to the advancement of business and the quality of life in Michiana, Emil (Lucky) Reznik, on behalf of the School of Business and Economics, presented Leslie M. Bodnar, M.D., with the annual E.M. Morris Award on April 19, 2009 at the school’s annual Honors Luncheon at Windsor Park Conference Center. Dr. Bodnar was born in Chicago, on May 17, 1916. He earned his Doctor of Medicine degree from the University of Illinois, College of Medicine in 1941. From 1943-1946, Bodnar served in the U.S Army as Captain, Orthopaedic Surgeon. He was stationed in England and France during the war and served in general hospitals and MASH units. In 1947, he entered into private practice, which developed into the group practice now known as South Bend Orthopaedic Associates. Bodnar was one of the first five sports medicine physicians in the United States. He created the Bodnar Retractor, used to pull tissue aside during an operation. Bodnar also contributed articles to the
American Journal of Sports Medicine, and wrote “American Sports Medicine and the Olympics” in 1978. His main volunteer work was with the Chapin Street Health Center, providing free medical care. Since his retirement in 2005, he spends the winter months in Palm Desert, Calif. Bodnar is the founding member, past secretary and president of the American Orthopaedic Society for Sports Medicine and former director of Sports Medicine, University of Notre Dame. In 1978, he was awarded Mr. Sportsmedicine Doctor of the Year and also received the title Sagamore of the Wabash. In 2007, Dr. Bodnar was inducted into the American Orthopaedic Society for Sports Medicine Hall of Fame, for his significant contributions to the specialty. Being inducted into the Hall of Fame is one of the highest honors given to a member of the sports medicine community. Bodnar has nine children, 23 grandchildren and eight great-grandchildren.
recognition
BETH KERN HAS MEMORABLE YEAR Beth Kern, associate professor of accounting, received two high profile honors in 2009 recognizing her accomplishments and contributions over the course of her career. One was an Indiana University system-wide teaching award, and the second, a recognition from a national professional association of academics. Kern received the Frederic Bachman Lieber Memorial Award for Teaching Excellence, the oldest of Indiana University’s teaching awards established in 1954 by Mrs. Katie D. Bachman, and later further endowed by Mrs. Herman Lieber. The Lieber Award, and a select number of similar system-wide awards, emphasize the importance of teaching and recognize those who have achieved teaching excellence. They are given out to select individuals from over 4,000 faculty members spread across IU’s eight campuses. In the letter she received from IU President Michael McRobbie, he noted, “It is because of faculty members like you, who have a clear vision of what education can and should be that Indiana University has achieved an international reputation as a center of academic excellence.” Kern’s dossier was thoroughly scrutinized by an evaluation committee that assessed her teaching approach, how she has changed and tried to improve her teaching, challenged her students, and documents the impact she has had on her students’ learning. Beth also received the 2009 American Taxation Association’s Distinguished Service Award. The American Taxation Association (ATA) primarily consists of academics who teach and conduct research in tax in business schools. The award recognizes an ATA member who has provided outstanding service to the organization for an extended period of time. Kern has served as the organization’s president, vice president, trustee, two terms as a member of the editorial board for the Journal of the American Taxation Association, and chair of multiple committees. Some of the contributions that she has made to the organization are programs to encourage doctoral students to enter a career as a tax professor as well as retain those who do show an interest in being tax educators. In addition, she helped reorganize the organization’s governance structure to enhance its independence as well as instituted a new fund-raising structure that has allowed the organization to maintain a strong financial footing so that it can engage in new initiatives. She has also been deeply involved with recommendations for the tax component of the accounting curriculum. The award was presented at a luncheon in New York.
“It is because of faculty members like you, who have a clear vision of what education can and should be that Indiana University has achieved an international reputation as a center of academic excellence.”
27
School of business & economics
P.N. WINS PRESIDENT’S AWARD FOR EXCELLENCE IN TEACHING
28
P.N. Saksena loves accounting and, as he explains in a campus orientation video, “I’m not on mood enhancing drugs. I’m on an accounting high!” Established by Indiana University in 1974, the President’s Award for Teaching Excellence given in 2009 to P.N., is typically awarded to one individual each year from among over 4,000 faculty members spread across IU’s eight campuses. As the university press release announcing the award noted, Saksena strives to make learning fun and enjoyable, but not easy. Students consistently comment on how rigorous his courses are, but they also say that they learn and retain a great deal. “This has been the hardest class so far, and I have learned the most from it,” said one student. “I have never had a teacher who was so willing to help his students. I hope I am lucky enough to have Dr. Saksena again.”
Excellence in Teaching Award from School of Business and Economics every year since 1998. He was a co-recipient of the Educator of the Year Award presented by the Student Government Association of IU South Bend in 1998. In 2001, he was awarded the Trustee Teaching Award, the IU Faculty Colloquium on Excellence in Teaching (FACET) award, the Faculty of the Year Award, and the IU South Bend Distinguished Teaching Award. As dean Rob Ducoffe explains, “These numerous recognitions from colleagues, students, and administrators are a compelling statement about P.N.’s contributions as an educator. He is known for his teaching excellence at IU South Bend, and now, throughout the IU system.” Excerpted from: IU Newsroom, March 20, 2009 press release
Saksena has been teaching classes at Indiana University South Bend for more than 13 years. During that time, he has earned the
ASSOCIATE FACULTY AWARD TO BILL SHAW
recognition
For his distinguished teaching contributions, associate dean Asghar Sabbaghi presented William Shaw (upper right) with the Outstanding Associate Faculty Award at the business school’s annual Honors Luncheon on April 19, 2009, at Windsor Park Conference Center. Shaw joined the School of Business and Economics in January 2002, and since then has taught courses in marketing and economics. He received his BS in engineering and business from Bradley University, and his MBA from the University of Chicago. For 30 years, he has been heavily involved in marketing management and strategic planning while developing unique consumer products, launching them into the marketplace, and managing their growth. For many years, he served as VP marketing at Harley-Davidson, VP strategic planning and VP marketing at Campbell Soup Company, group brands manager at Kraft Foods, and marketing manager at M&M/Mars-Confectionary Division. In addition to teaching at IU South Bend, he is currently working in the financial investments area.
IU SOUTH BEND FACULTY AWARDS DISTINGUISHED TEACHING AWARD Douglas Agbetsiafa, 2008 DISTINGUISHED RESEARCH AWARD Mark Fox, 2009 TRUSTEES’ TEACHING AWARD Peter Aghimien, 2008-2009 Beth Kern, 2008-2009 ATHENA AWARD for community service, St. Joseph County Chamber of Commerce Christine Pochert Ringle, Adjunct Professor of Entrepreneurship (middle right) MICHIANA 55 PLUS VOLUNTEER AWARD from Teachers‘ Credit Union for Community Work through the South Bend Chapter Indiana Black Expo Barbara Williams, Information Specialist (lower right) 29
HONOR SOCIETIES Beta Gamma Sigma
Beta Gamma Sigma is the international scholastic honor society for business students. Membership in this organization is the highest scholastic honor a business student can attain. The student initiates are:
Juniors
Maayan Ohana Andrew Szczechowski
Seniors
Steven Burnside Rachel Matherly Paul Schmucker Ian Schrader Shannon Sparazynski Julienne Turner
MASTERS
Adam Hamilton Jennifer Klein Matthew Kreager Pitha Maneewatana Ahmed Mentash Sirilak Tangrianukul Shawn Todd
Honorary Members
Leslie M. Bodnar, MD and Larry E. Lentych
THESE AWARDS ARE GRANTED
TO OUTSTANDING STUDENTS IN THEIR RESPECTIVE MAJORS // Criteria include grade point average, extra curricular activities, originality of ideas, contributions to class discussions and the rigor of their academic programs.
Accounting >> Jennifer Weinley Advertising >> Kathryn Maes Marketing >> Ian Schrader Finance >> Steven Burnside International Business >> Julienne Turner General Business >> Dustin Morren Human Resource Management >> Shannon Sparazynski Health Services Management >> Lindsay Myers Management & Administration >> Emily Shaw Economics >> Kenneth Smith Graduate Business-MBA >> Teyra Gillan Graduate Business-MSA >> Chiu-Jung Huang Graduate Business-MS-MIT >> Nikola Gaydarov Management Information Systems >> Amber Enyart
School of business & economics
OMICRON DELTA EPSILON
30
Omicron Delta Epsilon is the international scholastic honorary society for economics students. Membership in this organization is the highest scholastic honor an economics student can attain.
student initiates Steve Burnside Kenneth Smith Robert St. Juliana
faculty initiates Dana Costea Hong Zhuang
ROBERT PALMER SCHOLARSHIPS Erin Turinetti, an economics major, won the top award in the 2009 statewide Robert Palmer Scholarship competition. Professor Douglas Agbetsiafa noted that this is the second year in a row that an economics major from IU South Bend has won this award (in 2008, it was Mathew J. Wesolek). The Robert Palmer Scholarship named after Robert (Bob) Palmer, a founder of the Indiana Economic Forum, is given each year to a promising student working toward a career in economics. The purpose of the Robert W. Palmer Scholarship Fund is to promote student interest in the various fields of economics by offering financial assistance to encourage pursuit of a professional career in these fields. Selection of the award winner is based on applicants’ scholastic achievement in previously completed coursework.
recognition Wall Street Journal Award John Cole
Peer Mentor Service Award Maria Madera
Underrepresented Student Scholarship
James D. AND Shirley A. Kowalski Entrepreneurship Scholarship
AWARDS OF EXCELLENCE
Indiana Certified Public Accountants Society Award
Teaching
Kathryn Gardini
Jurabek Kholikov
RSM McGladrey Accounting Scholarship
Mayra Diaz-Arrieta Reyna Rugelio
Obadiah Counsellor
Gerald E. Harriman Scholarship
Crowe Horwath Accounting Scholarship
Julienne Turner
Chase Scholarship Dave Andedo
Paul J. and Deborah A. Cafiero Scholarship Sarah Gorski
Sharon Rose Miller Scholarship Maayan Ohana
CTS Foundation Scholarship
Jolinda Lung (Undergraduate Finance) Rachel Matherly (Undergraduate Finance) Adam Elbenni (Graduate Finance) Luciane Terra (Graduate Finance)
Finance Scholarship
Irina Lozhkina
George Wing Memorial Scholarship Stephan Dolzan Gantushig Gankhuyag
John R. Swanda Jr. Ethics Award Carol Croft
Andrew Szczechowski
James Pattillo Memorial Scholarship Daniela Gonzalez
Robert N. Robinson Memorial Scholarship Paul Schmucker Andrew Szczechowski
Donald Cline Scholarship
Obadiah Counselor
KADA McDonald’s Advertising Award Ian Schrader
KADA McDonald’s Marketing Award Gary Alwine
Beta Gamma Sigma Scholarship
Julienne Turner
Douglas Agbetsiafa Peter Aghimien Tracey Anderson Grant Black Murali Chari Mark Fox Beth Kern Monle Lee Brenda Knowles Jamshid Mehran P.N. Saksena Ganesh Vaiyanathan
Research Grant Black Kiyoung Chang Murali Chari Mark Fox Raj Kohli Monle Lee Jamshid Mehran Fred Naffziger Ganesh Vaiyanathan
Service Douglas Agbetsiafa Peter Aghimien Tracey Anderson Grant Black Kiyoung Chang Reza Espahbodi Mark Fox Dave Fred Beth Kern Brenda Knowles Raj Kohli Monle Lee Jamshid Mehran Fred Naffziger P.N. Saksena Ganesh Vaiyanathan 31
Unsolicited
letters from
satisfied customers
School of business & economics
// The following excerpts are from notes received from students (and an alum) regarding their professors in the School of Business and Economics.
32
To >> Brenda Knowles, Professor of business law
TO >> P.N. Saksena, Associate professor of accounting
I want you to know that I admire you so much. You are one of the most influential people here at IUSB yet the most humble member of the community of educators. You are so genuine, and you always strive to make others feel there is something in them. You have changed a lot of students’ lives in an indescribable way. You do not even know it, but we share these experiences amongst ourselves. I know it is true, and I can relate because you have made a great difference in my own life. You always emphasize that one does not have to be extraordinary, rich, or gifted to do great things. ... Instead, you always give examples of how those little things we lack can be used to our advantage. You say that those inequities can be overcome, and people can achieve great things and new heights. You say that people can become bigger than themselves.
... Every day that I am in the classroom teaching all facets of high school business, including Accounting 1 and Advanced Accounting, I always remember the amazing experiences that I had when I was in P.N.’s Accounting courses. P.N. brought the material to life, made it relevant, and pushed his students to reach their full potential. P.N. was always there for his students and did whatever it took for them to be successful in his classes. ...
I look up to you for you are a woman of wisdom, integrity and a loving heart. In all that you do, you give your all. I will never forget when you cried in the classroom because students had not performed well. You wept for us, not knowing in what ways to help us learn, retain and earn good grades. I will never forget “Dance Marathon For the Homeless.” You just decided you were going to offer of yourself, and you did it until the very end. It is good and an honor to witness the way you live your life. I am not sure where you get your strength, character and great contagious spirit; however, I am convinced it is of the Lord. You are a perfect reflection of the women I read about in the bible whom Jesus admired. Thank you so much for the hugs, for all that you do, and for being YOU! There can never be a more beautiful YOU.
P.N. was the most inspirational teacher that I have had in my educational experiences. He is who I aspire to be every day that I am in the classroom. Whenever I put together my lesson plans, I always think of how P.N. ran his classes and how he dealt with his students. I really take P.N.’s approach while I am in the classroom, I want to make material relevant to all of my students and take an individual interest in all of them. I feel that applying P.N.’s classroom style has helped mold me into the teacher that I am today.
satisfied customers
TO >> Mark Bradford, Adjunct professor of management I just love how energetic and active you are! You are a REAL teacher who truly wants to teach and improve his students. You are the real deal. I’m about 30 years younger than you and I don’t even have half of your energy. Your class, even though it was just a 100-level class, was the best and most beneficial class I’ve ever taken in my entire life. With people like you, the business department at IUSB is going to be one of the best in the U.S. ...
33
School of business & economics
TO >> Peter Aghimien, Professor of accounting
34
I just want to thank you for your encouragement. I was at IUSB from 2003-2006. In A201 you told me to major in accounting and that I had to sit for the CPA exam. I was reluctant because I was an older student and not sure of my ability. Every time we spoke, you insisted that I take the exam. I successfully completed my last section of the exam in August and now have my license. I passed all four sections the first time. Thank you for all your help.
satisfied customers
TO >> Ganesh Vaidyanathan, Associate professor of decision sciences I’m catching up on some things today and wanted to drop you a quick note on your MIS class that I took in the fall 2008. ... The biggest value from the class though were your required presentations with a presenting team and a critiquing team because they allowed the entire class to dig in depth into real world scenarios, required teamwork, and provided public speaking experience. ... Finally, I liked the way you tried to pull output from the class with questions, conversation, and teamwork (even to the extent of providing your cell phone number and taking the calls). Your approach was helpful because it identified and tried to address a common weakness in technical people and people without significant work experience, public speaking and presence. ... So, thanks.
TO >> Kiyoung Chang, Assistant professor of finance ... In Chang’s strategic finance class, (we) wrote a report called “Valuation of NBC Universal” (23 June, 2009). In it, we described the divestiture value of NBC (from parent company General Electric) at $31.36 billion. In a recent article by the Associated Press (2 October, 2009), Comcast was said to have offered $5 billion in cash and $11 billion in debt assumption for a 51 percent stake in NBC. $16 billion/51 percent stake equals $31.37 billion. I’d say we were pretty close. Too bad there were no prizes. ...
TO >> Dean Rob Ducoffe
me succeed at work. I made strong friendships with a number of the business professors that extended beyond IUSB. Ray Burnett, one of marketing professors, is still a close friend and associate. In the late 80’s, I used the business tools I developed at IUSB to invest in my first business. IUSB will always have a special place in my heart. It played an important role in helping me prepare for the challenges I faced in managing my business these last 18 years. I will always be grateful. As the dean of the business school, I thought you would appreciate and want to know how IUSB makes a positive difference.
TO >> Brenda Knowles, Professor of business law I just wanted to thank you for all the hard work and dedication you put into your classes. I realize it not only is a lot of hard work on us but on you as well. I have learned a lot not only about law but about schooling in general from your class. Not many teachers will take the time to sit down and recommend how to study. I appreciate all you do and how much you care about your students. I really enjoyed your class and will take everything I have learned from you with me through out my life. ...
from another student I like being an A student, and they generally come easy for me; not in your class. This A will be the one that I have most pride in because I had to work so very hard for it. ... Thank you for pushing me outside of my comfort zone, and making me see what I am capable of accomplishing. ...
... I was one of those students that took classes at night while raising a family (five children) and working full-time in software development and management. I concentrated on taking classes that would help 35
IU South Bend
Lecture series Partnerships
LAKE CITY BANK ENTREPRENUERSHIP SERIES ENTERS SEVENTH YEAR For the seventh consecutive year, the School of Business and Economics proudly presented the Lake City Bank Entrepreneurship Lecture Series during the fall 2009 semester, featuring outstanding presentations on the many facets of entrepreneurship. The 11 lectures, free and open to the public, showcased many of the area’s premier business organizations and their chief executives. Thursday evenings from September 10 through November 19 showcased speakers delving into various aspects of entrepreneurship including such topics as: strategies, feasibility, creating an organization, venture financing, and sustainable competitive advantage.
School of business & economics
This series is sponsored by Lake City Bank and is offered as an elective course in the business school’s M.B.A. program and as part of an undergraduate concentration in entrepreneurship.
36
lecture series
NIBCO IT MANAGEMENT SEMINAR SERIES ATTRACTS REGION’S LEADING CIOs The School of Business and Economics at IU South Bend was pleased to present the fourth NIBCO IT Management Seminar series. Headed up by associate dean Asghar Sabbaghi, the series brings IT management executives, professionals, professors, and graduate students together to discuss topics in information technology management. Area IT professionals are invited for these lively and informative evenings with IT executives and professors who facilitate the seminars. Each presenter also serves on the advisory board for the Decision Sciences and Master of Science in Management of Information Technologies (MS-MIT) programs at IU South Bend. The 13 sessions showcase the partnership between the School of Business and Economics and the IT business community. Seminars were scheduled once a week on Wednesday or Thursday evenings from September 10th through December 9th. The series is generously sponsored by NIBCO Inc. and is part of the capstone course for graduating students in the MS-MIT Program. All seminars are free and open to IT professionals in the Michiana community.
37
Lake City
Entrepreneurship Lecture Series
top row Thomas Hiatt venture capital in the current economy
Thomas Hiatt is a managing director and founder of Centerfield Capital Partners, one of the largest institutionally backed providers of private growth capital based in Indiana. Centerfield manages risk capital for institutional investors including pension funds, financial institutions, foundations, corporations, and university endowments.
middle row (l to r) Larry Davis Lean in a Mature Market
Larry Davis is president of Daman Products Co., Inc. of Mishawaka. The company designs and manufactures hydraulic valve manifolds and related products. Daman was awarded the Indiana Growth 100 Award in 1998, 1999 and 2004, and the St. Joseph County Small Business of the Year in 2003. Davis was Indiana’s 2005 Small Business Person of the Year.
Diane Stover Wake UP and Smell The Innovation
Diane Stover is vice president of marketing and innovation strategy for Memorial Health System. She coordinates all brand development, advertising, Web strategy, community events, public relations, call center, physician relations and publications. She also serves as the chief operating officer of the Memorial Venture Center where Memorial works with national companies on strategic alliances in the healthcare field.
School of business & economics
bottom row Derrick & Leslie Wesley reinventing your offering
38
Leslie Ann and Derrick Wesley are husband and wife and business partners in TDB Enterprises, LLC, a real estate investment corporation. The company was established in 1998. She is a realtor, broker, and owner of Creative Events Consulting. Mr. Wesley is an agent and owner of State Farm Insurance-Derrick Wesley Insurance Agency, Inc.
Michael L. Kubacki Can I Get A Loan Now?
Michael Kubacki is chairman, president and chief executive officer of Lake City Bank and its holding company, Lakeland Financial Corp. Lake City Bank is a $2.2 billion bank with headquarters in Warsaw, Ind., and with offices throughout northern Indiana.
lecture series top row (l to r) Mark Tarner wealth creation starts here
Mark Tarner is president of South Bend Chocolate Co., and vice president of Chicago Chocolate Co. Founded in 1991, South Bend Chocolate has 19 stores and franchises in Indiana and Michigan. The company has been recognized for innovation and growth.
Staci Lugar Brettin Determining if a Venture is Feasible
Staci Lugar Brettin is an associate faculty member of IU South Bend, teaching new venture creation, the individual entrepreneur, research, and strategies. She has extensive experience in small business development and recently assisted in the planning for the Anderson Flagship Enterprise Center’s GROW conference for Indiana entrepreneurs featuring Lt. Gov. Becky Skillman.
middle row Jacquelyn Hilderbrandt Wiitm Bought A Business
Jacquelyn Hilderbrandt is president and treasurer of MPA Architects. She is licensed as an architect in four states - Indiana, Illinois, Michigan and Florida and has been part of MPA Architects for 22 years. Hilderbrandt’s primary responsibilities include marketing, human resources, project management, contract negotiation and quality control.
Herb Wilson The Right Note
Herb Wilson is co-owner and general manager of Trio’s Restaurant & Jazz Club in downtown South Bend. In addition to managing the restaurant, Wilson pursues his passion for music by leading and performing with Trio’s house band.
bottom row Rob Bartels Jr. The Greening of Retail Sales
Rob Bartels is president and CEO of Martin’s Super Markets, Inc., which has 20 stores in Indiana and Michigan with 3,400 employees. He began as a bagger in 1981 and worked in a number of areas. He was named CEO in 2005.
Sam Miller Sustainable Competitive Advantage – Creating A Compelling Value Proposition
Sam Miller is vice president of strategy and marketing at JFNew, a natural resources consulting and restoration firm in Walkerton. Miller leads the company’s research and development and sustainability efforts. He has more than 20 years of entrepreneurial experience that includes managing small businesses, licensing of patented technologies, and developing new products and services for companies in a variety of industries.
39
Nibco IT
Management
seminar Series top row (l to r) Pat Ames Soft Skills in IT Management
Pat C. Ames, vice chancellor for Information Technologies, Indiana University South Bend, came to IU South Bend in 2004. Previously she served as director of academic facilities and classroom technology at California State University, Fullerton.
Steven Katz Business Process Re-engineering
Steven Katz is the director of management information systems at Skyline Corporation where he is responsible for the company’s use of computer technology and cost effective systems.
middle row Donald Miller Electronic Banking: Security, Privacy, and Legal Issues
Donald E. Miller, senior vice president of the operations group at 1st Source Bank, graduated from Purdue University with a degree in computer technology and later earned an MBA from the University of Notre Dame.
Steven Fay Planning for Automation in a New Manufacturing Facility
School of business & economics
Steven Paul Fay, computer systems manager, I/N Tek and I/N Kote, has 22 years of experience in information technology and process automation in the steel industry and six years experience as manager at I/N Tek and I/N Kote.
40
bottom row Gary Wilson ERP Implementation in Manufacturing Environments
Gary Wilson, vice president and chief technology officer, NIBCO INC., joined NIBCO in 1995 and is responsible for their product engineering and enterprise-wide information technology.
George Spohrer IT Governance
George A. Spohrer Jr., partner and IT executive, Crowe Horwath, LLP, is an executive in the risk and performance services consulting group.
lecture series top row (l to r) Steve Huffman Maintaining a continuous, Functional, Flexible IT Architecture
Steve Huffman is vice president and chief information officer at Memorial Health System. He has responsibility for all aspects of clinical systems, business systems and technical infrastructure, which includes not only the hospital but all of its outlying clinics and facilities.
Gordon Wishon IT environments in the corporate and public sectors; IT security
Gordon Wishon, CIO, associate vice president, associate provost, University of Notre Dame, leads all campus technology efforts. Prior to Notre Dame, he was associate vice president and associate vice provost for information technology at Georgia Institute of Technology.
middle row Kevin Butterbaugh The Business Value of IT
Kevin Butterbaugh, senior vice president and CIO, for Teachers Credit Union, is an adjunct faculty member at IU South Bend and at the Mendoza College of Business at the University of Notre Dame.
Patrick McMahon Metronet and Regional Economic Development Patrick M. McMahon, executive director, Project Future and executive director, St. Joe Valley Metronet, Inc., has been with Project Future since its inception in 1982. Project Future focuses on attracting and retaining businesses.
bottom row Sanjeev Jyoti IT Outsourcing Strategies
Sanjeev Jyoti is a global client solutions executive with IBM. He has over 20 years of consulting, solutions development, delivery and sales experience in information systems, enterprise resource planning and applications outsourcing.
Debbie Cafiero Security, Confidentiality, Privacy, and Use of IT at AM General
Deborah A. Cafiero, vice president and CIO, AM General, LLC, has held this role since 2005. She is responsible for the integrity of the company’s data.
not pictured >> Todd Smith Information Systems AUDITING & sox compliance Todd Smith, corporate director of IS, CTS Corporation, has more than 25 years of manufacturing operations and IS leadership experience with global manufacturers.
41
honoring
superior faculty
When she began in 1977, colleagues recognized how significant
an impact this resolute and brilliant woman would have at IU South Bend. Brenda E. Knowles grew up in a family where education was important. She received a B.A., magna cum laude in English, from the University of Evansville, an M.A. in English from Miami (Ohio) University, and a J.D. from the Indiana University School of Law (Bloomington). She is licensed to practice law in Indiana. Before joining the IU South Bend faculty, she taught English at Concord College and at the Women’s Federal Reformatory in West Virginia. In the School of Business and Economics, she is the first woman to achieve tenure and the rank of full professor.
School of business & economics
Knowles has received numerous awards for her accomplishments as a teacher, mentor, scholar, and leader. These include the coveted AllUniversity Amoco Foundation Excellence in Teaching Award; charter membership in FACET, the All-University Faculty Colloquium on Excellence in Teaching Award; a three-time winner of the Trustees’ Teaching Award; the All-University Teaching Award for Mentorship (the Wilbert Hites Mentoring Award); and the Academy of Legal Studies in Business’s Master Teacher Award. She also has received many School of Business and Economics Teaching Excellence Awards, and the Student Association recognized her meritorious teaching by naming her IU South Bend’s Outstanding Educator in 2002.
42
Her contributions to service include a 12-year stint as the director of the Campus’s Honors Program, as vice president of the Academic Senate, and as a long-time chairperson of the Affirmative Action and Academic Affairs Committees. During her 12 years on the Campus’s Athletics Committee, she was actively involved in establishing IU South Bend’s athletics programs, particularly for women, and in the planning of the Student Activities Center. Beyond the campus, Knowles served on the board of directors of the Fischoff National Chamber Music Association, the University of Evansville Alumni Association, and Madison Center. A leader in her discipline, Professor Knowles is a past president of the Academy of Legal Studies in Business (ALSB) and of the Tri-State Academy of Legal Studies in Business. She chairs the ALSB’s Teaching and Research Mentorship Programs and has received the ALSB’s Senior
Faculty Excellence Award. Her service–related honors include the W. George Pinnell Award for Outstanding Service to Indiana University, the Eldon Lundquist Fellowship Award, the Tri-State Academy of Legal Studies in Business’s Outstanding Service Award, and many School of Business and Economics service awards. She embodies the best in teaching, scholarship, and service. Her acute and imaginative mind uniquely positioned her to be a teacher. Her students have felt her drive for excellence and have been energized by her knowledge, the quality of her thorough methods, and by her insistence on accuracy, and the importance of critical thinking and effective writing. The habit of mind that she has so vigorously emphasized and upheld, even in times of adversity, have strengthened the mental and moral fiber of the thousands of students she has taught during her tenure at IU South Bend. She has been their mentor, role model, and a source of inspiration. Professor Knowles co-authored two business law textbooks used nationwide, and scholarly articles published in refereed journals. She appreciated a good argument when she saw one and criticized a questionable one when she found it. She gave credit when and where it was due. All her students and colleagues have benefited immensely from her wisdom. Her service to the business school, IU South Bend, Indiana University, her professional discipline, her students, and her colleagues, has been unrivaled. For her passion, leadership, dedication and perseverance, we owe her a debt of gratitude. Over the past three decades, we pause to contemplate the enduring impact this remarkable, hardworking, and ethical person has had on our School, IU South Bend, Indiana University, and the external communities. Professor Knowles has been a path breaker, an institutional cornerstone, and a powerful advocate for what is right. She is our friend, trusted colleague, mentor, and role model whose legacies will endure, and whose shoes will be hard to fill, long after she has retired.
farewells
BRENDA KNOWLES
by Douglas Agbetsiafa, professor and chair of economics
43
School business economics School of of business && economics
44
FRED NAFFZIGER
by Asghar Sabbaghi, associate dean and professor of decision sciences
farewells
After 37 years of outstanding teaching, scholarship,
Washington Post, USA Today, The Oregonian, Seattle Times, Chicago Tribune, Reuters, the Associated Press, the New York Times, National Public Radio, CNN, NBC Nightly News, and the BBC, among others, and quoted on the websites of ABC News, CBS News, CNN, FOX News, KGW as well in publications in Taiwan, Canada, Russia, the UK, and Switzerland. His affiliation with IU South Bend has brought IU South Bend national and international media exposure.
Across a variety of courses at both graduate and undergraduate levels, Fred has always received impressive ratings from his students who have appreciated his deep knowledge of business law, familiarity with the field’s latest developments, ability to explain practical applications, willingness to help, and his enthusiasm for teaching.
Fred chaired or was a member of the Academic Senate Research and Development Committee for many years. In this capacity, he supported curricular and research grants that contributed significantly to teaching and scholarship at IU South Bend. He has paid special attention to junior faculty and provided his advice and support in building their own teaching and scholarship records. I had the privilege of benefiting from his advice and support when I wrote curricular development grants in MIS.
and service to IU South Bend, professor of business law, Fred Naffziger, retires at the end of the Spring 2010 semester. He received his J.D in 1970 from the University of Illinois, and joined IU South Bend in the fall of 1973 as an assistant professor. Ever since, he has remained one of the most productive and honored contributors to the School of Business and Economics.
I’ve had the privilege of working closely with Professor Naffziger for more than 27 years and have observed first-hand his outstanding contributions to our university. Since my early years at IU South Bend, I consulted with him on my teaching and learned about his teaching philosophy. Throughout, Fred exhibited a sincere dedication to teaching and a genuine interest in his students. He has been an inspiring model for junior faculty who seek excellence in teaching and scholarship and expect the same from an academic environment. The author or co-author of numerous books, book chapters, and an impressive record of publications in national and international refereed journals, Fred was invited to serve as a visiting professor at the University of Texas at Arlington in 1978 and at the University of Michigan in 1986. He has won a number of professional awards, served on the editorial staff of several legal journals, and is a member of Phi Theta Kappa and Beta Gamma Sigma. Fred’s research and writing on bankruptcy and the free exercise of religion clause of the First Amendment led to his ascension as a national authority on the issue of church bankruptcies which grew out of the sexual abuse scandals in the Catholic Church. He has been interviewed by the
Professor Naffziger served on various business school committees with distinction and as director of graduate business programs from 19961998, always working to further their quality. His service to the legal profession included his role as an arbitrator for the American Arbitration Association, New York Stock Exchange, National Futures Association, and the National Association of Securities Dealers, as well as providing pro bono legal services to various not-for-profit organizations. William Arthur Ward once said, “The mediocre teacher tells, the good teacher explains, the superior teacher demonstrates, the great teacher inspires.” Professor Naffziger has been a great teacher in the School of Business and Economics at IU South Bend, and we owe him a real debt of gratitude for his hard work, his dedication, and for his numerous contributions to our school and our university. We congratulate him on his retirement, and wish him and his family the very best.
45
46 School of business & economics
publications // presentations
Faculty
Publications
& Presentations LEFT: NEW HIRES (Left to Right) Haiyan Yin, assistant professor of international business; Pam Zarazee, lecturer of human resources management; and Kim Wooden, visiting lecturer in finance UPPER RIGHT: Asghar Sabbaghi, associate dean and professor of decision sciences LOWER RIGHT: Mark Schroeder, lecturer of decision sciences
47
Douglas Agbetsiafa
Tracey Anderson
“Assessing Teaching Effectiveness in College Level Economics Using student Rating of Teaching,” Proceedings of Association for Global Business, Vol. 21(14), 2009
“Consequences and Responses to the Madoff Fraud,” with H. Lane David and Mark A. Fox, Journal of International Banking Law and Regulation, 23(11), pp. 548-555, 2009
“Analysis – A New Financial Foundation: Rebuilding Financial Supervision and Regulation,” Dialogue/SWIFT, Q4, pp. 54-58, 2009
“The U.S. Financial Sector Status Update: Road to Recovery or Highway to Hell?,” with H. Lane David and Mark A. Fox, Journal of International Banking Law and Regulation, 24(10), pp. 491-500, 2009
“Examining the Trade-Growth Nexus in the Economic Community of West African States,” Journal of African Development, Spring 2008 “Inequality, Wealth, and Development,” Midwest Economics Association Annual Meeting, March 2008
Peter Aghimien “CPA Licensing Requirement,” with Dave Fred, Academy of Accounting and Financial Studies Journal, forthcoming “A Comparative Analysis of Significant Influences on the Accounting Systems of Diverse European Countries and the U.S.A.,” with Mitchell, S; and Overholser, H., Journal of International Business Research, Vol. 8, No. 2, pp. 95, 2009 “An Analysis of the Acquisition and Purchase Methods,” Academy of Business Disciplines, (2009)
School of business & economics
“Consequences of Accounting Fraud,” Academy of Business Disciplines, (2009)
48
“International Financial Reporting, Standard Setting, and Patterns of Accounting Development,” Academic and Business Research Institute, (2009) “Assessing Teaching Effectiveness in College Level Economics and Accounting Courses Using Student Rating of Teaching,” with Douglas Agbetsiafa, Association for Global Business Conference, (2009) “Accounting Practice in France Compared to the U.S.A.,” Proceedings of Academy of Accounting, Finance and Economics, (2008)
Vishal Bindroo “The Role of Price Consciousness in Reshaping Competition in Context of Brand Loyalty,” 2009 Behavioral Pricing Conference, Orlando, Florida, Nov. 14, 2009
Grant Black “The Economics of University Science and the Role of Foreign Graduate Students and Postdoctoral Scholars, American Universities in a Global Market,” with Paula Stephan, Charles Clotfelter (ed.), University of Chicago Press, pp. 129-161, forthcoming “The Knowledge Production Function for University Patenting,” with Paula Stephan and Shiferaw Gurmu, Economic Inquiry, forthcoming “2009 Economic Outlook of the South Bend and Elkhart Metropolitan Areas,” Indiana Business Review, 84(4), pp. 38-40, Dec. 1, 2009 “The Economics of University Lab Science and the Role of Foreign Graduate Students and Postdoctoral Scholars,” with Paula Stephan. Presented at the conference on American Universities in a Global Market, National Bureau of Economic Research, Woodstock, VT, Oct. 3, 2008
Kiyoung Chang “Does National Culture Affect International Corporate Cash Holdings?,” with Abbas Noorbakhsh, Journal of Multinational Financial Management, Vol. 19, pp. 323-342, 2009
publications // presentations
“Determinants of the Share of Equity Sought in Cross-Border Acquisitions,” with Murali Chari, Journal of International Business Studies, Vol. 40, pp. 1277-1297, 2009 “Size Effect and Corporate Governance in Cross-Border M&As,” with Yong-Cheol Kim and Yewmun Yip, Global Business and Finance Review, Vol. 14, No. 1, pp. 23-35, Spring 2009 “Culture, Corporate Governance, and Dividend Policy: International Evidence,” Financial Management Association, Reno, NV, Oct. 22, 2009. “A Simple Way to Convey Internal Rate of Return, Cost of Capital, Investment Performance and Capital Structure Using Compustat Data in Finance Classes,” with Maretno Harjoto and Ha-Chin Yi, Journal of Financial Education, Vol. 34, pp. 95-110, Spring 2008 “Effects of Cultural Difference and Liquidity on Cross Country Mergers and Acquisitions,” Presented at 2008 Financial Management Association Meeting, 2008 Academy of International Business Meeting, and 2008 Midwest Finance Association Meeting
Murali Chari “Determinants of the Share of Equity Sought in Cross-Border Acquisitions,” with Kiyoung Chang, Journal of International Business Studies, Vol. 40, pp. 1277-1297, 2009 “The Impact of Information Technology Investments and Diversification Strategies on Firm Performance,” Management Science, Jan. 2008
Lane David “Moves Toward Credit Card Industry Reform in the United States,” with Mark Fox, Journal of International Banking Law and Regulation, 24(7), pp. 348-354, 2009 “Consequences and Responses to the Madoff Fraud,” with Tracey Anderson and Mark Fox, Journal of International Banking Law and Regulation, 23(11), pp. 548-555, 2009 “The U.S. Financial Sector Status Update: Road to Recovery or Highway to Hell?,” with Tracey Anderson and Mark Fox, Journal of International Banking Law and Regulation, 24(10), pp. 491-500, 2009 “Lessons from the U.S. Subprime Mortgage Crisis,” with Mark Fox, Journal of International Banking Law and Regulation, Vol. 23, Issue 9, pp. 449-457, 2008 “So You Want to Use a Measure of Trade Openness?,” In The Design and Use of Political Economy Indicators, ed., King Banaian and Bryan Roberts, Palgrave Macmillan, 2008
Reza Espahbodi “Behavior of the Earnings Response Coefficient,” with Hassan Espahbodi, Advances in Quantitative Analysis of Finance and Accounting, Vol. 8, forthcoming
Dana Costea
“Motivation for Equity Carveouts,” with Hassan Espahbodi and Gopala Vasudevan, The International Journal of Finance, Vol. 20, No. 1, pp. 4655-4675, 2008
American Society of Health Economists, 2nd Biennial Conference: “The Effects of Direct to Consumer Advertising on Health Outcomes,” Durham, NC, June 2008
“Forecasting Future Sales,” with Pouran and Hassan Espahbodi, presented at the International Conference of the Business Economics Institute (BEI), Dec. 2008
Eastern Economic Association 2008 Annual Conference: “The Impact of Direct-to-Consumer Advertising on Patients and Physicians,” Boston, MA, March 2008
Mark Fox
2009 Health Services and Policy Research Conference: “Does Advertising Really Work? Evidence from the US Pharmaceutical Industry,” Brisbane, Australia, Nov. 2009
“Moves Toward Credit Card Industry Reform in the United States,” with H. Lane David, Journal of International Banking Law and Regulation, 24(7), pp. 348-354, 2009
49
“Consequences and Responses to the Madoff Fraud,” with Tracey Anderson and H. Lane David, Journal of International Banking Law and Regulation, 23(11), pp. 548-555, 2009
Book Review: “The Trusted Leader: Building Relationships that Make Government Work,” Nonprofit and Voluntary Sector Quarterly, 38, pp. 724-727, Oct. 2008
“The U.S. Financial Sector Status Update: Road to Recovery or Highway to Hell?” with Tracey Anderson and H. Lane David, Journal of International Banking Law and Regulation, 24(10), pp. 491-500, 2009
Beth Kern
“Lessons from the US Subprime Mortgage Crisis,” with H. Lane David, Journal of International Banking Law and Regulation, Vol. 23, Issue 9, pp. 449-457, 2008 “Reducing Sarbanes-Oxley Compliance Costs for Smaller Companies,” with Benjamin C. Norris, Journal of International Banking Law & Regulation, 23(1), pp. 28-33, 2008
David Fred “CPA Licensing Requirement,” with Peter Aghimien, Academy of Accounting and Financial Studies Journal, forthcoming “Will the SEC Support a Change from GAAP to IFRS,” Journal of Global Commerce Research, Vol. 1, (2), 2009
School of business & economics
Leda McIntyre Hall
50
“The Revised Model Tax Curriculum,” with Dennis-Escoffier and S. Rhodes-Catanach, Issues in Accounting Education, forthcoming 2009 “Using Analogies to Help Students Learn Fundamental Accounting Concepts in the First Week of the First Accounting Course,” Accounting Instructor’s Report (Summer): http://college.cengage.com/ accounting/resources/instructors/air/ summer_2008/index.html “Preparing for Class,” American Accounting Association Annual Meeting, Aug. 2, 2008 “Effective Teaching Practices,” American Accounting Association Annual Meeting, Aug. 2, 2008 “Teaching Tips,” American Accounting Association Annual Meeting, Aug. 2, 2008
Gary Kern
“You Are What You Wear! Public Employee Perceptions of the Impact of Their Dress and Appearance,” Academy of Management, Aug. 2009
“Assemblios: Experiential Learning for Operations Management,” Proceedings: Western Decision Sciences Institute Annual Meeting, San Diego, Calif., Decision Sciences Institute, 2008
“Public and Nonprofit Management and ‘The New Governance,’” with Sheila Suess Kennedy, American Review of Public Administration, 38(3), pp. 307-321, 2008
“An Integrated Plan for Experiential Education in Business,” Proceedings: Western Decision Sciences Institute Annual Meeting, San Diego, Calif., Decision Sciences Institute, 2008
“Give Them Something to Smile About: A Marketing Strategy for Recruiting and Retaining Volunteers,” with Katherine Karl and Joy Peluchette, Journal of Nonprofit Sector Marketing, 20(1), pp. 71-97, 2008
Brenda Knowles
“Employee Perceptions of the Impact of Clothing on How One Feels: A Comparison of Public and Private Employees,” with Katherine Karl and Joy Peluchette, International Association of Management and Business, San Diego, Calif., Jan. 2008
“The Geographical Market for Undocumented Workers: A Law and Economics Analysis,” with Paul Kochanowski, Southwestern Economic Review, Vol. 36, pp. 57-77, Spring 2009 “Undocumented Aliens and Immigration Reform: A Law and Economics Analysis,” with Paul Kochanowski, Southwestern Economic Review, Vol. 36, pp. 17-57, Spring 2009
publications // presentations
“RFID Technologies: The Emerging Legal and Social Context,” with Ganesh Vaidyanathan, Proceedings of American Institute of Higher Education, 1, pp. 145-151, (2008)
Raj Kohli Annual Meeting of Midwest Business Administration Assoc. Presentation of a Paper: “Student Evaluation of Homework Assignment and the Use of Technology in Financial Management Courses,” Journal of Academy of Finance, 2008
Monle Lee “Principles of Advertising: A Global Perspective,” with C. Johnson (New York: the Haworth Press), Chinese translation, Yanbain People’s Publishing House, China, forthcoming “Antecedents of Coupon Redemption Behavior: An Exploratory Study,” Association for Global Business Conference, Orlando, Fla., Nov. 12-14, 2009 “Customer’s Loyalty to Online Music Usage: the Roles of Perceived Values and Costs,” American Society for Competitiveness Conference, Va., Oct. 29-31, 2009 “How to Discourage Online Music Piracy,” with H.C. Chiu, Y.M. Lin, M.E. Nieh and H.C. Chen, International Journal of Management and Enterprise Development, Vol. 5, No. 6, pp. 723-736, 2008 “Teaching Ethics in International Business Courses: The Impacts of Religions,” with J. Ruhe, Journal of Teaching in International Business, Vol. 19, No. 4, pp. 362-388, 2008 “Trust: an Intercultural Comparison of Consumer Perceptions,” with J. Davis and J. Ruhe, International Journal of Commerce and Management, Vol. 18, No. 2, pp. 150-165, 2008 “Brand Name Choices on Consumers’ Product Evaluations: An International Perspective,” with Y.S. Lii and C.S. Chien, at the International Academy of Business and Public Administration Disciplines Conference, Memphis, Tenn., Oct. 2008
“Cross-Cultural Perspectives on Work Ethics,” at the American Society for Competitiveness conference, Orlando, Fla., Nov. 2008
Jamshid Mehran “Reverse-LBOs, Re-LBOs and Informational Asymmetry Hypothesis of LBO Transactions,” with Kosedag, Arman and Jinhu Qian, Journal of Managerial Finance, Vol. 35 (8), pp. 716-728, 2009 “Risk-Taking and Managerial Incentives: Seasoned Versus New Funds of Funds,” with Ying Li, The Journal of Alternative Investments, Vol. 11, No. 3, pp. 100-1008, 2009 “International Diversification,” with Robert Balik, Proceedings of Academy of Finance, pp. 1-2, 2009 “Performance of Value Line Model Portfolio,” with Robert Balik, Proceedings of Academy of Economics and Finance, pp. 1-3, 2009 “Benjamin and Dod Revisited,” with Robert Balik, Journal of Academy of Finance, pp. 1-8, Fall 2009 “The Benefits and Costs of Reverse Mortgages,” with Robert Balik, Journal of Contemporary Business Issues, Vol. 16 (1), pp. 36-45, 2008 “Benjamin Graham Revisited,” with Robert Balik, Journal of Academy of Finance, Vol. 6, Issue 2, pp. 181 – 186, 2008 “The Impact and Drawbacks of Reverse Mortgages on Senior Homeowners Lifestyle in the United States,” with Robert Balik, Proceedings of the Academy of Finance, pp. 98– 99, 2008
Maria Mendez “Mood, Emotion, and Affect in Group Performance (MEAP): An Experiential Exercise,” with Chavez, C., Organization Management Journal, 2008 “Three perspectives of followership,” with Howell, J.P. In R.E. Riggio, I. Chaleff, and J. Lipman-Blumen (Eds.), The Art of Followership. How Great Followers Create Great Leaders and Organizations, pp. 25-39, 2008
51
Fred Naffziger “The Erosion of the Rule of Law in the American Corporate Field,” Journal of International Banking Law and Regulation, Vol. 24(10), 2009 “New Fangled Financial Instruments and Old Creaky Securities Law,” Annual Conference of the Pacific Northwest Academy of Legal Studies in Business, Portland, Ore., April 2009 “Be Creative with Derivatives and You Too Can Legally Avoid the American Securities Law,” Tri-State Academy of Legal Studies in Business Annual Conference, Ann Arbor, Mich., Oct. 2009. “Corporate Law, Obama, & Song Lyrics,” Southeastern Academy of Legal Studies in Business annual meeting, Miami, Fla., Nov. 2009 “Those Who Aid and Abet Securities Fraud Do Not Face Private Lawsuits as America Tightens Up On Class Action Lawsuits,” Journal of International Banking Law And Regulation, Vol. 23, Issue 5, pp. 246-251, 2008 “The Struggle for Supremacy between Antitrust and Securities Law,” Western Academy of Legal Studies in Business, Monterey, Calif., April 2009 “Praying & Litigating: The Bankruptcy, 1st Amendment, Trust & Property Issues,” Western Academy of Legal Studies in Business, Monterey, Calif., April 2008.
School of business & economics
“Congress & the Courts Narrow the Entrance to the Securities Courtroom,” Annual Conference of the Pacific Northwest Academy of Legal Studies in Business, Vancouver, Canada, April 2008
52
“Is Antitrust an ‘Invisibility Cloak’ Allowing Security Suits into the Federal Courthouse?,” Tri-State Academy of Legal Studies in Business Annual Conference, South Bend, Ind., Oct. 2008
Anurag Pant “Does the Individualist Consume More? The Interplay of Ethics and Beliefs that Governs Consumerism across Cultures,” with Lee, Monle and Abbas Ali, Journal of Business Ethics, forthcoming, available online: DOI: 10.1007/ s10551-009-0240-8
“One Shoe Doesn’t Fit All: An Investigation into the Processes that Lead to Success in Different Types of Entrepreneurs,” with Sanjay Mishra, 1st IIMA International Conference on Advanced Data Analysis, Business Analytics and Intelligence, Ahmedabad, India, June 6-7, 2009
Bhavik Pathak “C2C Business Models: Beyond Online Marketplaces,” International Journal of Virtual Communities and Social Networks, Vol. 1, Issue 2, pp. 36-50, 2009 “IT Applications for Professional Communications in Virtual Teams: To Groove or Not?,” A.T. Business Management Review, Vol. 5, Issue 3, pp. 147-158, 2009 “Shopbot 2.0: Integrating Recommendations and Promotions with Comparison Shopping,” with Garfinkel, R., Gopal, R. and Yin F., Decision Support System, 2008
Asghar Sabbaghi “Green Supply Chain Management,” with Ganesh Vaidyanathan, 2009 National Decision Sciences Institute Annual Meeting, 2009 “Effectiveness and Efficiency of RFID Technology in Supply Chain Management: Strategic Values and Challenges,” with G. Vaidyanathan, Journal of Theoretical and Applied Electronic Commerce, Vol. 3, Issue 2, pp. 71-81, 2008 “Supply Chain Management Software Systems Integration and Version Upgrades: Vendor and Customer Based Framework,” with G. Vaidyanathan and Y. Fu, Issues in Information Systems, Vol. 9, Issue 2, pp. 72-79, 2008
P.N. Saksena “Four Tools (Under the Umbrella of Continuous Improvement) to Help Auditors Prevent/Detect Fraud,” The Journal of American Academy of Business, Cambridge, Vol. 15(2), pp. 28-36, forthcoming “The Sarbanes-Oxley Act and Occupational Fraud: Does the Law Effectively Tackle the Real Problem?,” International Company and Commercial Law Review, 20(2), pp. 37-43, 2009
publications // presentations
Douglas Singh “Effective Management of Long-Term Care Facilities,” 2nd Edition, Jones and Bartlett Publishers, 652 pages, 2009 “Essentials of Health Care Delivery in the U.S.,” 2nd Edition, with Leiyu Shi. Boston: Jones & Bartlett Publishers, 2009 “Health Care in the United States (book chapter),” with Leiyu Shi, In Comparative Health Care Systems: Global Perspectives, J.A. Johnson and C. Stoskopf, eds., Jones and Bartlett Publishers, 2009 “The Changing U.S. Health System,” with Shi, L. and Tsai, J., In Comparative Health Care Systems: Global Perspectives, J.A. Johnson and C. Stoskopf (eds.), Boston: Jones and Bartlett Publishers, 2009 “Delivering Health Care in America: A Systems Approach,” 4th Edition, with Shi, L. Boston: Jones and Bartlett Publishers, 2008
Ganesh Vaidyanathan “Security in Web Content Management Systems Applications: A Framework Based Evaluation,” with S. Mautone, Communications of the ACM, forthcoming “Effectiveness and Efficiency of RFID Technology in Supply Chain Management: Strategic values and Challenges,” with A. Sabbaghi, Journal of Theoretical and Applied Electronic Commerce, Vol. 3, Issue 2, pp. 71-81, 2008 “Supply Chain Management Software Systems Integration and Version Upgrades: Vendor and Customer Based Framework,” with A. Sabbaghi and Y. Fu, Issues in Information Systems, Vol. 9, Issue 2, pp. 72-79, 2008 “The Role of Quality in E-Procurement Information, Fulfillment and Performance: An Empirical Analysis,” with S. Devaraj, Journal of Operations Management, 26 (3), pp. 407-425, 2008
“RFID Technologies: The Emerging Legal and Social Context,” with B. Knowles, Proceedings of American Institute of Higher Education, 1, pp. 145-151 (2008)
Dazhong Wu “Competitive Environment and the Relationship Between IT and Vertical Integration,” with Guatam Ray and Prabhudev Konana, Information Systems Research, Vol. 20, No. 4, pp. 585-603, 2009 “Manufacturers’ Distribution Strategy in the Presence of the Electronic Channel,” with Gautam Ray and Andrew Whinston, Journal of Management Information Systems, Vol. 25, No. 1, pp. 167–198, 2008
Haiyan Yin “Bank Characteristics and Stock Reaction to the Federal Funds Rate Target Changes,” Financial Management Association, Reno, Nev., Oct. 2009 “State Dependency of Bank Stock Reaction to Federal Funds Rate Target Changes,” with J. Yang and W. Handorf, AIB Conference, 2008
Hong Zhuang “Foreign Direct Investment and Human Capital Accumulation in China,” International Research Journal of Finance and Economics, 19, pp. 205-215, 2008 “Does FDI Diminish Local Education Spending Inequality? An Analysis of US Panel Data 1992-2002,” Regional and Sectoral Economic Studies, 8(2), pp. 51-72, 2008 “The Effect of FDI on Local Education Expenditure,” Western Economic Association International Conference, Honolulu, Hawaii, June 29–July 3, 2008
“Enterprise Resource Systems Implementation,” In The Handbook of Research on Enterprise Systems. Eds., Jeet Gupta, Sushil Sharma, and Mohammad Rashid, IDEA Group Inc.: Hershey, PA, 2008
53
ABOVE: Grant Black, assistant professor of economics LEFT: Student talking with P.N. Saksena; assistant dean, director of graduate studies, associate professor of accounting RIGHT: School of Business & Economics Faculty and Staff (Left to Right, Top to Bottom); Peter Agihimien, professor of accounting; Murali Chari, associate professor of management; Rob Ducoffe, dean; Grant Black, assistant professor of economics; Karla Forsythe, dean’s secretary; Barbara Williams, information specialist; Haiyan Yin, assistant professor of international business; Pam Zarazee, lecturer of human resources management; Kim Wooden, visiting lecturer in finance; Maria Mendez, assistant professor of management; Asghar Sabbaghi, associate dean and professor of decision sciences; Brenda Knowles, professor of business law; Catherine Coleman, academic advisor; Anurag Pant, assistant professor of marketing; H. Lane David, assistant professor of economics; Raj Kohli, professor of finance; P.N. Saksena, assistant dean, director of graduate studies, associate professor of accounting; Douglas Singh, associate professor of management; Monle Lee, professor of marketing; Mark Schroeder, lecturer of decision sciences; Tracy White, graduate programs secretary; Kiyoung Chang, assistant professor of finance; Jamshid Mehran, professor of finance; Patricia Agbetsiafa, director of administration and student services; Fred Naffzinger, professor of business law; Douglas Agbetsiafa, professor of economics; and Cathy McCray, student services
School of business & economics
BELOW: Brenda Knowles, professor of business law
54
donors
2008-09
honor roll of donors
To achieve excellence in higher education today requires funding from both public and private sources. That is why we are so very appreciative of the support of our donors. This listing includes individual and corporate contributions received between July 1, 2008 and June 31, 2009. It does not include total amounts pledged to the School of Business and Economics. While every effort has been made to ensure accuracy, if we have inadvertently erred, please notify us at rducoffe@iusb.edu. 55
$10,000 - $20,000
Indiana Council for Economic Education Lilly Foundation Northern Indiana Public Service Company
$5,000 - $9,999
Arthur J. and Patricia G. Decio Lake City Bank James F. and Sharon K. Van De Veire
$2,500 - $4,999
Kem Krest Corporation NIBCO Inc Charles E. and Lois J. Niemier Pearson Education
$1,000 - $2,499
School of business & economics
1st Source Bank Crowe Horwath LLP Robert and Sandra Ducoffe Edward H. Friend Bruce C. and Debbie Gobdel KADA Partnership Lexus of Mishawaka McDonald’s Corporation Richard D. and Lindsey B. Mellinger Metzger Mancini & Lackner CPA Frederick J. and Carol Naffziger John R. and Gwendolyn E. Swanda Jr. Tuesley Hall Konopa, LLP Thomas J. and Karren J. Wcisel Jeff Whorley and Lisa E. Haynes
56
$500 - $999
Archer Daniels Midland Foundation Christopher M. Bradford CTS Corporation Kruggel Lawton and Company LLC Northwestern Mutual Foundation RSM McGladrey Inc. David L. and Barbara J. Vance
$300 - $499
Margaret Cline C. Michael and Teri S. Crabill James L. and Marilyn R. Edwards Sr. Scott M. and Minge A. Johnson Daniel D. and Kathryn N. Kaminski Brenda E. Knowles Joel A. Lighty Darcy B. and Faline J. Pajak Joy A. Schrage Michael L. Smith Richard L. and Patricia A. Troeger Jr. Raymond A. Vander Heyden
$150 - $299
Jose A. and Cheryl Alvarez Tracey A. and Sue A. Anderson Jeffrey L. and Linda D. Burkett Michele and Brian E. Chase Crowe Foundation Sharon L. Elizondo Fidelity Investments Gift Fund Michael J. and Debra I. Flowers Mark Fox LaMont D. and Ann K. Freeze Gerald E. and Eileen B. Harriman William M. and Beverly J. Hauguel Kerry G. and Robin L. Johnson William O. and Ruth L. Johnson Mary K. Kase-Bissell Robert W. and Carolynn T. Klotz Harold D. and Jacqueline Lane Phillip J. and Ann M. Meuleman Robert A. and Diane C. Myers Alan H. and Winifred I. Nadon Kevin J. and Donna Paczkowski William A. and Mary A. Quig Mehdl and Fateme Rezalan Robert M. and Brenda J. Schosker Jr. Anita L. Schwarz Ann L. Schwarz Richard A. and Barbara S. Sherwood Bernard J. and Juliann Sparazynski Dr. Judith L. Swisher
Ronald W. Thomas Charlie F. Towns Paul J. Wendzonka Whirlpool Foundation Bruce W. and Diane Wisler Bruce E. Wolfe Greg G. and Karen K. Wuszke
$100 - $149
Steven W. and Karen L. Austin John R. and Ronda S. Beck William J. Clingenpeel Bryan L. Culp Paul E. Dilts Martha S. Elliott Ronald W. and Connie M. Fields Andrew Gilbert Sherry L. Gilbert Marita R. and Ricky L. Grisel Michael J. and Katherine S. Ham Clark G. and Avon L. Hartford Frank N. and Ruth E. Hilbert Michael J. Huszar Jason Little Susan M. Magley David A. and Amy Kuhar Mauro Donald M. Newman Penny R. Nye Michael R. and Karla Oberholtzer John E. and Dolores L. Peck Gary A. Rach Elizabeth B. Reuthe Bernard R. and Nancy M. Roney Vernon J. Schmaltz and Joyce M. Slater Deanna M. Shively SPX Foundation Robert E. and Sharon Stachowiak Sandra A. Trimboli Steven Tubbs
in memoriam Up to $99
Osama S. Abaza James R. and Patricia J. Aldrich American Electric Power Renate B. Anderson Timothy Arata David K. Asante Thomas L. Atkins B & L Information Systems Inc. Joseph P. Baranowski Paul and Jill L. Barrineau Linda E. Benitz Albert and Mary J. Carter Mary A. Cavanah Tetsuya B. and Tomoko Cho Raymond R. Clemens Martin B. and Valerie A. Cotanche Thomas J. and Susan K. Creevey David S. and Jenanne C. Currie Jr. Scott A. and Mindy Eisenberg Carmen and Christine M. Fabiilli Vicki S. Fadorsen Sara E. Felaborn Peter A. Fettig Sr. David L. and Ginger J. Flowers Glen A. and Lisa A. Gorski Douglas M. and Cynthia A. Grant Jason A. and Stacey M. Grooms Margaret W. Hains Therese L. Post Hanlon Arthur D. and Thomasine A. Harrison Frank F. and Audrey Hartman Kevin R. and Rita Hochstedler Debra S. Hogan Joshua W. Jack Joseph J. Janush Jack H. and Marilyn S. Jones Gerald I. and Charlotte M. Kajzer Robert A. and Sharon R. Kartman Paula K. Kercher Edward V. Kiffmeyer David J. King Michael E. and Shirley R. Kucharski Stephan L. La Cluyse Gregory M. and Sally Ladewski
Ronald J. and Elizabeth J. Lies Chao J. Liu and Charlya Triwattana S. Eric and Kathleen Marshall Charles R. and Marcia A. McCoy Tom J. and Joyce M. McFadden Luping W. McGinness Wanda M. Miller Lynne G. Miller Glenn P. and Jean V. Musial David L. Nagy Ronald B. and Linda J. Nalepinski Jerry L. and Kerry L. Neff Kenneth L. and Linda M. Nellans Robert G. and Helen W. Nettles P.J. and Melissa L. Nolan, Jr. Warren K. and Barbara L. North Heath and Jennifer F. Osburn Henry H. Owen William L. and Deborah L. Pea Pfizer Foundation Robert C. and Sheila K. Pollock Ronald A. and Mary P. Rennells Diana L. Ringer Willam H. and Mary A. Sage Antonette L. Sommerville Todd and Jennifer L. Stein Stephen F. and Madeleine A. Strubbe Greg J. Tezich Steven D. Thompson Timothy A. and Debora A. Turner Jon C. and Tamara L. Walter Dianna L. Waltz Steven W. and Lynn A. Warner Margaret R. Weiss Cathy Schmidt Larry G. and Kathy E. White Scott D. and Sarahjane E. Wisthuff Ronald T. and Joan K. Zielinski Dennis G. and Barbara J. Ziolkowski
IN MEMORIAM Our valued colleague, Emil Albert, associate professor emeritus of management, passed away on June 21, 2008. He is survived by his wife Verda; a son Timothy (Patti) Albert; and grandson Pierce Albert, all of Niles, Mich. Professor Albert graduated form Purdue University, West Lafayette, Indiana with a degree in mechanical engineering, and later earned a doctorate degree in business from Michigan State University. Before coming to IU South Bend, he had many years of business experience with Kawneer Company, Tyler Refrigeration, and Bendix Corporation. He was a former vice president of the Adams & Westlake Corporation, and the owner of the R.E. Jackson Company, both in Elkhart. Professor Albert taught both undergraduate and graduate level management courses until his retirement. He had a passion for teaching, and was well known for engaging students in real life business applications of what they learned in the classroom. His tireless efforts in enhancing the quality of education for our students were evidenced by his invaluable help in establishing the entrepreneurship program at IU South Bend. We fondly remember Professor Albert’s long and distinguished career as a model of commitment and excellence. He was a man of character, integrity, and substance. His legacy lives on in the hearts and minds of the many students he taught and the colleagues who knew and worked with him.
57
58 School of business & economics
dean’s message
ADDING
MEASURABLE VALUE
Every IU South Bend student has an opportunity to receive an excellent education. Regional universities like ours strike a balance between -“excellence;” maintaining high academic standards, and – “access;” ensuring that a university education is available to most students in our area. Here’s a compelling example of how we fulfill this mission. Consider that most students that apply here are admitted with average ACT scores of our applicants at about the median nationally. There is more to student preparation than a test score, and there’s a wide range in our students’ scores on this exam, but I’ll ask you to accept that our business students are about “average” academically when they begin their studies. Now, any business major, either an undergraduate or MBA student, is required to take an exit examination in order to graduate. These examinations are developed by Educational Testing Services – known as ETS – the people that do the SAT, GRE, and other standardized tests. Our students take the “Major Field Test in Business,” a two-hour exam for undergraduates, and a three-hour exam for MBAs. Both measure what students know about business from the core curriculum in their programs. Let me share some results with you: >> IU South Bend undergraduates who took the exam in spring 2009, tested in the top 5 percent of students from 564 universities across the U.S. where it is given. >> In 24 separate administrations of the undergraduate field test over 14 years, SB&E students from IU South Bend have performed in the top 10 percent or better on these exams.
>> IU South Bend MBA students who took the exam in spring 2009, tested in the top 5 percent of students from 199 universities across the U.S. where it is given. >> In eight separate administrations of the MBA exam since 2002, SB&E students from IU South Bend have performed in the top 10 percent or better. These outcomes are exciting for several reasons. First, they indicate business students are learning a lot about business. Second, they suggest our faculty hold high expectations and are effective as teachers. Third, they demonstrate the incredible value of a business education at IU South Bend. We admit students who are about average academically at the outset who, upon graduation, demonstrate extraordinary results compared to their peers across the country. The distance our students travel, is a good way to measure the value-added by an IU South Bend education. Doing well on tests of business knowledge isn’t the only important way to measure educational outcomes. Students’ acquisition of general skills like critical thinking, communication, open-mindedness, teamwork, leadership, and ethical principles in classes and through experiential learning are crucial. And assessment of students’ career outcomes when they graduate is essential. We’re working on both these areas. But, it gives me great satisfaction to reflect on the already notable accomplishments of our students and faculty.
Rob Ducoffe, Dean
59
Non-Profit Organization U.S. Postage PAID South Bend, IN Permit No. 540
School of Business and Economics 1700 Mishawaka Avenue Administration Building, RM 204K P.O. Box 7111 South Bend, IN 46634-7111