2022-2023 Michigan Ross Yearbook

2022-2023:

A Year of New Beginnings at Ross

A Year of New Beginnings

S

tarting anew. A fresh stroke of paint. Beginning again. With Sharon F. Matusik appointed as the new dean ofthe University of Michigan Ross School of Business last year, the return of in-person academic outreach activities for the first time since 2019, and the inaugural graduating class of the Masters in Business Analytics Program graduating and departing to make their mark on the world, the 2022-2023 Academic Year was chock full of new beginnings.

The Michigan Ross community—our students, faculty, alumni, and staff—recommitted to our mission of building a better world through business. We remain focused on generating the best student outcomes, producing innovative research findings, and building a global reputation for excellence in business education. The progress made during this past year was achieved with the efforts and generosity of our dedicated supporters, and we couldn’t be more grateful.

Clear eyes create space for opportunity, which brings excitement for the year ahead. Thank you for coming with us on this journey. Please enjoy browsing this compilation of highlights from the past year.

Summer 2022

• Leeds School of Business Dean Sharon Matusik Appointed to Lead Michigan Ross • Course Spotlight: Michigan Ross and U-M Students Create Designs For Equitable Enterprises • Weiser Center Hosts Immersive Real Estate Program for Michigan Ross and U-M Undergrads in NYC • Michigan Ross ROMBA Fellows Are Changemakers in LGBTQ+ Rights Advocacy • Master of Accounting Program Receives STEM Designation • New Tool Helps Prepare Aid Supplies for Typhoons in the Philippines • Michigan Ross Ranked No. 1 in North America for Executive Education • Alum John R. Tozzi Pledges $1.5M to School’s Electronic Business and Financial Center • Students Get First-Hand Look at Silicon Valley’s Entrepreneurial Ecosystem through ZLI • Student Shares Related Scholar Experience

Introducing New Michigan Ross Dean Sharon F. Matusik On Aug. 1, 2022 Sharon F. Matusik began her term as the new Edward J. Frey Dean of the Stephen M. Ross School of Business. A distinguished scholar, Matusik joined the Michigan Ross community with proven success as a business school leader. “It is my great honor to lead the next chapter at Michigan Ross and lift its stellar global reputation and impact to even greater heights,” she said. Below, Matusik answered a variety of questions about her experience, business education, life in Ann Arbor, and more.

What are you most looking forward to in this new role?

I’m most looking forward to working with the outstanding Michigan Ross community. There is tremendous academic excellence across the board at Ross and the University of Michigan: From the students, to the faculty and staff, and the alumni and business community. This comprehensiveness, and the ability to work collaboratively across the university and with the community, are critical to addressing the opportunities and challenges our society faces today and in the future.

What are your first impressions of life in Ann Arbor?

There is energy and pride associated with being a part of the U-M community and Ann Arbor. I have had so many people reach out to welcome me — from Ross and U-M, and from the extended alumni

and business community, too. I am continually amazed by how many people have a Ross connection, and their great pride in it. Also, those in the community are very eager to talk about what they love about Ann Arbor and Michigan, from the Ann Arbor Art Fair, to Michigan football, the great museums, and the best place to buy Michigan gear.

What are among your top priorities as the new dean?

To further elevate the tremendous impact Michigan Ross is already making through its research and how it educates and inspires our next generation of leaders — our students. There is great potential to extend Ross’ global reputation and impact. I am also excited to build on the school’s foundation to create a more inclusive learning community; increase its collaboration with the many areas of excellence across the entire campus; amplify its action-based learning focus; and spur innovations to drive the future of business.

What inspires you the most about business education?

The tremendous impact it has on the world. As we look around us, there is a great need for business leaders to step up to fill voids we see in leadership globally. I am so grateful for the business leaders who make important economic, as well as social, impacts in the world.

For example, a global business leader in a developing economy who builds his factories outside of major cities to create jobs in areas that need economic growth and development. Or, an entrepreneur from an underrepresented background who launches a firm to teach technology skills to others from marginalized groups. These are great examples of people who are building a better world through business.

Why is it important to create accessible pathways to education?

I am a first-generation college student. My father worked on an assembly line — for General Motors, actually — and my mother was a secretary. They worked incredibly hard to make sure my sister and I had a great education. I am constantly amazed at the opportunities I have had because of my education. The fact that my job allows me to help others create opportunities for themselves and their future through education, like I was able to do, is deeply meaningful to me.

Course Spotlight: Michigan Ross and U-M Students Create Designs For Equitable Enterprises Can restaurants be good employers and good businesses? How should they recover from the pandemic? Ten teams of U-M graduate students presented their answers to those questions at Demo Day, a key component of an award-winning, impact-themed business course at Michigan Ross.

That course, Impact Studio: Translating Research into Practice, is co-taught by Jerry Davis, the Gilbert and Ruth Whitaker Professor of Business Administration at Michigan Ross and the Business+Impact initiative faculty director; and Cat Johnson, managing director of Business+Impact. During the course, students have the opportunity to enhance their research and design skills while collaborating across boundaries to tackle some of the world’s most pressing business challenges. Designed to be interdisciplinary, the course enrolled 40 graduate students from nine different schools on campus.

Weiser Center Hosts Immersive Real Estate Program for Michigan Ross and U-M Undergrads in NYC In May 2022 (during the Spring/Summer Term), the Weiser Center for Real Estate held its inaugural Real Estate Academy in New York City to provide an immersive experience in real estate investing and development to U-M undergraduate students. The goal of the four-day academy was to spark students’ interest in real estate by increasing their understanding of the industry, confidence in navigating their academic and career journeys to fulfilling real estate jobs, and connection to the industry’s professional networks.

Included was a site visit to Related Companies’ headquarters, where students learned about its business units and internships; a real estate finance seminar at D&A Companies; a boat tour of new developments from Manhattan to Brooklyn; an overview of public-private partnerships with Brooklyn Bridge Park Corporation; and networking with Michigan Ross and U-M alumni. The experience was funded by the Blau Initiative for Diversity in Real Estate and Infrastructure.

ROMBA Fellows Are Changemakers in LGBTQ+ Rights Advocacy Passionate advocates for the LGTBQ+ community and proven leaders in efforts to create a more equitable world, Sasha Rodriguez Kolodkin, MBA/MS ’24, and Carlos Delfino Sotelo, MBA ’24, earned the distinction as the 2022 recipients of the Reaching Out MBA LGBT+ Fellowship from Michigan Ross.

Since 2016, the Michigan Ross Full-Time MBA Program has selected two fellows through its membership in Reaching Out MBA as part of its efforts to attract a more diverse student cohort. ROMBA’s mission is to increase the influence of the LGBTQ+ community in business by educating, inspiring, and connecting MBA students and alumni. The organization offers fellows professional development and networking events during their time in business school and beyond.

Master of Accounting Program Receives STEM Designation Michigan Ross’ top-ranked Master of Accounting Program is now STEM-designated. With this status, eligible Michigan Ross MAcc students holding a student visa may apply to extend their 12 months of optional practical training for an additional 24 months post-graduation, helping international students gain additional real-world skills and experience in the United States.

“We are very excited to have the Michigan Ross MAcc Program receive the STEM designation,” said Kaci Kegler, managing director of One-Year Master’s Programs at Michigan Ross. “Not only does this designation help us meet the industry’s increasing demands for accountants with a keen understanding of data analysis and management, it also offers our international students additional time to gain professional experience and secure work sponsorship in the U.S.”

New Tool Helps Prepare Aid Supplies for Typhoons in the Philippines Distributing relief supplies to typhoon victims requires storing the goods in the best location before the typhoon hits. The tricky part is knowing where that is — but Michigan Ross Professor Joline Uichanco has developed a method to figure it out.

As detailed in a paper recently published in Manufacturing and Service Operations Management, Uichanco created a data-driven model for demand prediction and relief distribution. It allows a government or relief agency to input information ahead of a storm and receive recommendations on the most effective way to position relief supplies before the storm hits.

Although Uichanco’s work focuses specifically on the Philippines, which is particularly susceptible to typhoons, a similar approach could be used to develop tools to prepare for typhoons and hurricanes around the world.

Michigan Ross Ranked No. 1 in North America for Executive Education Michigan Ross Executive Education earned the top rank in North America — and the No. 8 spot globally — for its combined rating of open enrollment and custom programs for corporate clients, and was the only school in the nation to place in the top 50 schools. Ross also achieved the highest overall satisfaction score, which is based on evaluations by participants about their course experience. In the Financial Times’ open enrollment programs rankings, Michigan Ross placed No. 2 in the United States and No. 8 globally. The school also was rated No. 1 for growth and No. 4 for faculty in the global ranking of open enrollment programs.

“We are thrilled to be named among the top schools in the Financial Times executive education rankings again this year for our custom and open programs, and even more excited to receive such strong overall satisfaction scores,” said Melanie Weaver Barnett, chief executive education officer at Michigan Ross.

“In addition, earning the No. 1 ranking for growth speaks to how well Michigan Ross has been able to return from the pandemic, and the high rankings for our faculty reflect the school’s commitment to ensuring our executive education participants have access to our world-class faculty.”

Alum John R. Tozzi Pledges $1.5M to School’s Electronic Business and Financial Center For the 20th anniversary of the Tozzi Electronic Business and Financial Center, namesake donor John R. Tozzi, MBA ’67, promised an additional $1.5 million to support the center and its growth for years to come. Since its establishment in 2002, the Tozzi Center has offered valuable resources for students and faculty and houses one of the largest academic trading floors in the U.S. The center is equipped with the most advanced financial research tools, including Bloomberg and FactSet, which enables users to observe and analyze real-time financial market data, research companies, and track industry news. The Center is used as a classroom for courses covering topics such as financial analysis, valuation, and portfolio management, while also providing a platform for action-based learning “While our educational tools are essential for students pursuing a career in financial services, the Tozzi Center is also a community for those who want to learn about business beyond a textbook,” said Kai Petainen, the center’s manager, whom John Tozzi’s most recent gift honors. “This is a gathering place where students and academics debate and discuss the latest developments related to markets, sectors, stocks, commodities, and the business world. Our technology is what drives this action-based learning environment.”

Students Get First-Hand Look at Silicon Valley’s Entrepreneurial Ecosystem through ZLI Program During the Spring/Summer Term, eleven U-M students recently traveled to meet with the top innovators and investors—all of whom are former Wolverines—in Silicon Valley as part of an immersive learning and networking experience.

Organized by the Zell Lurie Institute (ZLI) at Michigan Ross, the Silicon Valley Experience provided the opportunity for the students to engage with and learn from the founders, CEOs, executives, and investors of many of the most innovative organizations and venture capital firms on the West Coast, including LineLeap, Founders Circle Capital, Google, and Meta. This incredible experience was offered again in May 2023.

“For anybody with any inkling of being a founder or a funder, getting to Silicon Valley is like the Super Bowl of your entrepreneurship journey,” said George Okpamen, MBA ’23, who participated in the Silicon Valley Experience.

“

Student Shares Related Scholar Experience On July 31, 2020, I was sitting in an auditorium waiting for the high school graduation ceremony to begin. I was shocked when my phone rang (I almost never received phone calls) from a number I didn’t recognize. It was the Ross School of Business informing me that I was accepted into the Related Scholar Program. Looking back, I realize that I did not know a lot about real estate or what the Related Scholar experience would entail when I accepted the offer that day. However, I would soon learn about this unique program — which includes a full-ride scholarship — and what opportunities it would allow me to pursue while a BBA student at Michigan Ross.

When people think about real estate professionals, many may think about popular TV shows like Fixer Upper or Selling Sunset. However, these shows provide a narrow view of an incredibly broad sector. Real estate is just as diverse as business itself. In my time as a Related Scholar, I have met a swath of people who are considered real estate professionals. This includes lawyers who specialize in zoning laws, marketers advertising for condominiums, and developers who double as construction workers. I have learned they all concentrate on different aspects of real estate.

This concept was illuminated during a Related Scholar Real Estate tour I went on with others in my cohort that was organized by the Weiser Center. During this event, Scholars walked through Ann Arbor and learned more about the development of various buildings and restaurants. Our guide was Marc Norman, former faculty director of the Weiser Center, and he highlighted the many people that were involved in the development and management of each property. Each building is touched by city officials, construction workers, leasing agents, and owners. Everyone must perform their role to make a property successful.

By being able to view different aspects of real estate, I learned that I was highly interested in real estate law. I enjoy the intersection between government regulations and real estate. The government heavily influences where buildings are constructed and how they are developed. For example, the government offers tax advantages for apartment buildings that offer affordable housing options. Due to this, it’s common to see affordable housing in expensive neighborhoods. Private real estate companies make decisions based on the tax advantages available. Both government and private companies shape the communities we live in. It’s fascinating to know how and why certain decisions are made!

From my journey so far, I believe the uniqueness of the Related Scholars Program cannot be undervalued. This program has improved my BBA experience at Michigan Ross by offering action-based learning within the real estate industry and providing access for students to learn and network from professionals who inspire them. I will always have fond memories of the people I met and the properties I learned about.

I know I can be successful within the real estate industry because I witnessed the success of others, including many Michigan Ross alumni. One day, I hope I can serve as a professional mentor to Ross students, too.

- Genesis Grant, BBA ’24

”

Students Participate in Business+ImpactFunded Internships Each summer, Business+Impact awards competitive grants for summer internships to MBA and BBA students at Michigan Ross. MBA funding comes from the Give-A-Day Fund, an MBA student-led, pay-it-forward fund; and from General Motors. Additionally, the newly established Gordon Impact Entrepreneurship Fund provides support during the summer for BBA or MBA students with ventures or funders seeking to create societal impact. This year, a total of 57 U-M students pursued internships at mission-driven organizations.

As an intern for the Global CO2 Initiative at U-M, Aiko Ueda, MBA/MS ‘23, conducted research on voluntary carbon offset markets in the Great Lakes Region, including historical transactions, the criteria of high-quality carbon credits, price, and market size. She then produced a report and suggested proposals to enhance the voluntary carbon offset market for the Governors and Premiers in the Great Lakes Region. “I was interested in a wide range of topics, like climate tech, nature conservation, and corporate sustainability, and I’m surprised to realize that this carbon offsets space covers all these topics, so I really enjoyed researching this topic and will continue to follow it,” Aiko says.

“Thanks to B+I funding, I was able to focus on what I really wanted to pursue and gain deep insight in the social impact space, which really matters to me.”

Ross Secures Over $50 Million for Scholarships and Student Support After announcing the fundraising initiative in the fall of 2021, Michigan Ross saw seen a generous show of support for its Foundations for Success student support fundraising initiative—aimed at increasing access to the top-ranked business programs and supporting current students. With a goal of raising $200 million, the school raised $50.4 million, over 25% of its goal, by the end of its last fiscal year, including $2.5 million from two new gifts.

Howard S. Epstein, BBA ’93, and his wife, Sharon E. Epstein, committed $1 million to establish the Sharon and Howard Epstein Family Scholarship for exceptional BBA students involved in one of the diversity, outreach, or pipeline programs at Michigan Ross. “Sharon and I both feel strongly about the importance of removing barriers to higher education,” said Howard Epstein. “We are grateful to know that our new scholarship will help open doors to a Ross BBA education for many aspiring students in the coming years.”

Ross School Advisory Board member Timothy J. Sloan, MBA ’84/BA ’82, and his wife, Elise M. Sloan, BFA ’82, also made a gift of $1.5 million toward the Sloan Family Scholarship, which was established at Michigan Ross in 2020 to provide need-based support for MBA students with an aptitude for leadership. “Some of the brightest minds in business are graduating with MBAs from Michigan Ross,” said Sloan. “By further investing in the Sloan Family Scholarship, we hope to build on the legacy of leadership of the school and its exceptional MBA graduates.”

Autumn 2022

• Hear from 6 Students Who Participated in a B+I-Funded Internship • Seven Standout Ross MBAs Chosen for Community Impact Scholarships • One Student’s Journey in Discovering Her Niche in Business and Policy • Ross Secures Over $50 Million for Scholarships and Student Support • Michigan Ross Full-Time Class of 2022 Sets Records for Offers, Salary Packages • How One Student Followed Her Own Pace and Tackled Imposter Syndrome To Succeed • Leadership on Another Level: The Executive MBA Class of 2024 • Michigan Ross Launches New ‘Business and Society’ Podcast Featuring Ross Faculty • MBA Students Participate in Sanger’s LDRx Leadership Program • Dismantling the Caste System with Isabel Wilkerson at the Handleman Lecture • Ross Placed as No. 3 MSCM Program in the World, and the No. 1 MM Program in the U.S. • Michigan Ross Launches New Initiative to Encourage Philanthropy From Women • An Immersive Business Learning Experience in Argentina • Inaugural Online MBA Class Establishes Competitive Benchmark for Career, Salary Outcomes • MBA Students Trek to NYC and Chicago to Home In On Career Goals • Center for Positive Organizations Celebrates 20 years

Michigan Ross Full-Time Class of 2022 Sets Records for Offers, Salary Packages It was a record-breaking year for the 2022 graduating class from the Full-Time MBA Program at the Ross School of Business, according to this newly released employment data: • • • • •

99% of graduates received job offers 3 months after graduation.

98.4% of graduates accepted jobs within 3 months of graduation.

Graduates landed a $165,000 median salary.

Graduates received a $192,270 median salary package.

42.2% of graduates went into consulting.

“We are thrilled to announce the employment results for this year’s Michigan Ross Full-Time MBA graduates,” said Heather Byrne, managing director of the Career Development Office at Michigan Ross. “These record-setting results for acceptance rates, offers, and salaries reflect the exceptional quality of our students, the hands-on experiences they receive at Michigan Ross, and the depth of support and connections our Career Development Office provides them.”

The Class of 2022’s $165,000 median salary represents a $21,000 increase over the Class of 2021, while the median salary package was also up nearly $21,000 versus the previous year. The graduates also received an average $30,000 signing bonus, which matched the strong results of the year’s graduates.

Seven Standout Ross MBAs Chosen for Community Impact Scholarships For their commitment to driving investments into clean tech, leading diversity and inclusion efforts, and more, these seven Ross MBA students were selected as 2022-23 Ross Community Impact Scholarship recipients: Larissa Almeida, MBA ’23; Zicheng Cui, MBA ’23; Stella Han, MBA ’23; Joi James, MBA ’23; Liz Krane, MBA ’23; John Pontillo, MBA/MS ’22; and Ziv Zohar, MBA ’23.

The Ross Community Impact Scholarship, based on merit and leadership, is one of many scholarship funding opportunities for MBA students. The scholarship recipients receive up to $10,000 in funding during their second year of the program. Stella Han, who has spent much of her academic career driving DEI efforts on campus, said this about the scholarship: “To me, recieving this scholarship affirmed that taking risks, assuming responsibility, and driving change is terrifying and exhausting, but also completely worth it. It also restored my confidence and belief in myself and my abilities as a leader and community member at Rosson campus.

One Student’s Journey in Discovering Her Niche in Business and Policy In the early years of my college career, I pondered what exactly I wanted to do with my BBA degree from the Ross School of Business.

The possibilities felt limitless and limited at the same time.

Since I was not familiar with many careers that exist in business, I felt bound to the careers my peers were interested in or going into after graduation. All I knew was that I wanted to make a difference in people’s lives and work closely with others. I was bouncing around, exploring different things through clubs and info sessions.

The Michigan Ross Career Development Office also had tons of opportunities to explore unique industries and career paths.

During my junior year, I decided to join a committee in the U-M Central Student Government to apply my passion for helping others. At the same time, I was in a business law class for our Ross Integrative Semester. I was introduced to how my people/policy interest could intersect with my business interests. That’s when I learned about the Carson Scholars program offered in the winter semester. In this class, students who majored or minored in business are able to take a seven-week-long course where we hear from speakers about their careers combining policy and business. At the end of the class, we would take a week-long trip to Washington, D.C. to hear from even more speakers and political leaders. I thought this would be the perfect opportunity to explore my interest, as it combined perfectly the things I was passionate about.

There, I learned more about political and public service consulting. I found out there are small and mid-sized firms that specialize in this, and large firms that have a large portion dedicated to this sector like Deloitte or Accenture. In fact, during the trip, we got to hear from a Michigan grad about their experience working in the government sector of a consulting company and how much they enjoyed it. It was very exciting to hear that.

Then, soon after learning about the niche, I even had the opportunity to work in the public sector during my internship at Accenture this past summer. I assisted my team with the implementation of a platform that would disperse COVID-19 relief funds from the state to eligible employers for the client, who was working on behalf of the state.

I really appreciated how Michigan Ross gives students the ability to explore very niche industries and even new and upcoming industries like fintech. The classes, treks, career fairs, and more, all gave me the opportunity to discover all the options out there, both through Ross and the university at large. I’m extremely happy to say that I was able to find something that I’m truly passionate about in such a short period of time, and that means a lot to me for my college career and my future. Upon graduation, I will be working at Accenture full-time in New York, and I am very excited to continue to work on projects in this space after meeting people and learning so much about it through school and my internship.

- Lindsey Azu, BBA ‘23

How One Student Followed Her Own Pace and Tackled Imposter Syndrome To Succeed

“

Coming into the Ross School of Business as a first-year student, I did not realize the internal tug of war I would have about what would deem me a “successful” student. I’m originally from Flint, Michigan, and I came to Michigan Ross as the only student from my high school to attend the business school. So, initially, I didn’t know what to expect from being in a rigorous program and how to navigate the social culture that revolved heavily around clubs. Due to this, I, like many others, felt that I didn’t belong and that a mistake was made in the admissions process. I thought “how was I — an African American, lower/middle class woman from a diverse high school program where I wasn’t the minority, supposed to succeed, be confident at, and contribute to a predominately white institution where the average household income was significantly higher than not only all of the University of Michigan, but the entire state of Michigan as well.

I had extreme imposter syndrome. Not only did I have imposter syndrome, but I allowed it to control my perception of myself and constantly fed the continuous cycle of doubt by focusing on all of the things that I didn’t know instead of my capabilities. Back then, I could readily tell you all of the things that I thought I was bad at and all the things that I didn’t know, such as: I knew nothing about business; I was a bad public speaker (I felt like my throat was caving in on itself every single time I tried to speak to anyone); I didn’t feel smart enough to participate in class; and to top it all off, I didn’t even know that almost all the clubs in college required dues.

I didn’t realize until later on the unique strengths I carried, such as: I had a great support system in my family, my academic advisor, and in the Academic Success Center where I met amazing people that continue to support me to this day. They told me I was doing really well my first semester, that I studied hard, and most importantly, I had a unique story to tell and a background that none of my peers had.

As I reflect on what has led me to where I am now, I’ve realized that throughout the years I’ve been able to gain valuable lessons through pushing myself out of my comfort zone at my own pace.

Knowing what my values are, having the confidence to live by them, and being able to use my voice to act has led me to being who I am. This is who I have become because of my unique journey: I am the director of recruitment for the DEI Committee, a co-chair with two other MBAs for the Sanger Leadership Center’s Leader Experience program, a BBA ambassador and outreach ambassador, a Ross Academic Peer Advisor, and a mentor for the Academic Success Center’s Ross Summer Connection program. Using my voice to shape my experience was a pivotal moment because I am where I am today because of it.

After college, I will be going into consulting. I am honored, proud, and blessed to be a part of the Ross community and to have the opportunity to give back in the positions I’m involved in by being someone who has created her own path, at her own pace, to become my own definition of successful.

- Karyn King, BBA ’23

Leadership on Another Level: The Executive MBA Class of 2024 During the 2022-2023 Academic Year, 98 students from around the world joined the Executive Master of Business Administration Program at the Ross School of Business locations in Ann Arbor and Los Angeles.

Members of the EMBA Class of 2024 have an average of 16 years of fulltime work experience — including nine years of supervisory experience — and work in over 27 different industries, including healthcare, manufacturing, tech, consulting, financial services, energy, and government/military. Students of color represent 40% of the class and 46% of the class has already earned at least one advanced degree.

On why he decided to enroll, Bill Danaher, senior rector at Christ Church Cranbrook in Bloomfield Hills, Michigan, says: “I am pursuing an EMBA so I can become a better leader and discover what good I might do in the world with a more rigorous background in business. I want to extend my knowledge and experience beyond the nonprofit/academic/ecclesial intersection where I have been working to date in my career. Finally, I am fascinated by social enterprises in their many forms, and the EMBA will equip me to start one or collaborate with those already doing great work.”

Michigan Ross Launches New ‘Business and Society’ Podcast Featuring Ross Faculty In Fall 2022, Michigan Ross introduced a new podcast that shares insights from the school’s faculty members into current issues and events. Business and Society with Michigan Ross explores the different ways the business world interacts with our broader society. The format of the show includes two segments: A small panel of Michigan Ross professors discussing a current public issue, followed by an interview with another professor about their latest impactful research.

The first episode tackled the question “Is the American Corporation Doomed?” with a panel featuring Michigan Ross Professors Paul Clyde, Jerry Davis, and Cindy Schipani. In addition, Professor Sarah Miller explains her research into the long-term financial impacts on women who are denied an abortion.

Future episodes will address subjects like social media and democracy, government regulation and climate change, and why people may be reluctant leaders. “We see Business and Society as an effective showcase for the valuable, research-based insights of our faculty members into the most critical issues facing our society,” said Michigan Ross Senior Associate Dean for Faculty and Research Thomas Buchmueller.

MBA Students Participate in Sanger’s LDRx Leadership Program From stepping up to lead a group project to making a classmate feel more included, or formally taking on an executive role of a club, there are endless opportunities for students to be leaders at Ross. To support students in these daily leadership actions, the Sanger Leadership Center at Michigan Ross cocreated Leader Experience. LDRx is a student-led community where groups work together to reflect and process leadership experiences while taking control of their development.

Through the LDRx program, students meet once per week with a small group of peers, and use a flexible, discussion-based curriculum designed by Sanger.

Throughout the year, students can advance their leadership development by increasing their self-knowledge, experimenting with new ways of leading, reflecting on their results, and synthesizing their learning. Bill Brady, MBA ’23, said this about the experience: “My favorite part of the LDRx experience was sharing our experiences with each week’s key theme—successes, roadblocks, concerns, etc. We would strategize as a group on how to overcome obstacles, whether it be working with different personalities at work or seeking more complex responsibilities to challenge ourselves. I knew that, despite whatever may have been going on in my life at the time, I could relax and be my authentic self at our weekly LDRx meeting.”

Dismantling the Caste System with Isabel Wilkerson at the Handleman Lecture At the root of many societal issues is an unspoken caste system that can be traced back through history. However, according to Isabel Wilkerson, the Pulitzer Prize-winning author of Caste: The Origins of Our Discontents, business has the power to disrupt that system. Wilkerson delivered her message at the 2022 Handleman Lecture, an annual event established in 2008 by a gift from the Joseph and Sally Handleman Charitable Foundation. The lecture series focuses on important issues in business and society in order to expose students to emerging business challenges and opportunities.

In defining “caste” and describing examples of inherited history and hierarchies in the U.S—from enslavement to the Jim Crow era and the murder of Martin Luther King Jr.—Wilkerson noted that while Americans alive today did not build this country, they have inherited and taken possession of not just its current appearance, but its history and preexisting conditions. Therefore, she argued, Americans are responsible for the country’s healing, repairs, and maintenance. “We are looking at so many crises on the planet, we don’t have time to be divided. It’s urgent that we recognize how much we have in common and how much we need each other.”

Ross Placed as No. 3 MSCM Program in the World, and the No. 1 MM Program in the U.S. The Master of Supply Chain Management and Master of Management Programs at the Ross School of Business maintained their top positions in the most recent report by QS World University Rankings.

Michigan Ross again secured the No. 3 spot among all of the MSCM programs across the globe in the 2023 QS Business Master Rankings. The school also repeated for at least the fourth consecutive year to land on top of the list of MM programs in the United States.

“We are extremely proud to continue our strong performance in the QS World University Rankings,” said David Wooten, associate dean of one-year masters programs at Michigan Ross and University Diversity and Social Transformation Professor at the University of Michigan. “As with all our one-year master’s programs, the Michigan Ross MSCM and MM programs are designed to provide the leadership training, in-depth curriculum, and career development opportunities students need to advance in their careers. These latest recognitions are a testament to the fact we are continuing to deliver that world-class business education.”

To compile the rankings, QS uses five key metrics: Employability, entrepreneurship and alumni success, return on investment, thought leadership, and class and faculty diversity. The new Michigan Ross Master of Business Analytics Program, which recently welcomed its first cohort, is not yet eligible for the rankings.

Michigan Ross Launches New Initiative to Encourage Philanthropy From Women Michigan Ross announced a new initiative, called Women Mean Business, to encourage women donors to support the school through philanthropy.

The goal is to raise $50 million to go toward increasing access to a Michigan Ross business education, enhancing its top-ranked academic programs, and advancing impactful research at the school.

Gifts of $1 million or more from women will be included in Women Mean Business, and those gifts can be in any area that is of interest to the donor, such as student scholarships, faculty research, or educational programming.

The school has already received five gifts from esteemed Ross alumnae, including three new gifts totalling $6.5 million, toward the initiative.

“Michigan Ross is fortunate to have so many accomplished alumnae who are committed to giving back, and we are thrilled to celebrate their transformational gifts to the school through the Women Mean Business initiative,” said Sharon F. Matusik, Edward J. Frey Dean of Business. “Their tremendous support, along with the support of other successful women business leaders, helps Ross attract top students to our school, maintain our world-class academic excellence, and inspire more women to pursue careers in business.”

An Immersive Learning Experience in Argentina Buenos Aires welcomed us with a genial spring wind. For four days, our cohort had a wonderful immersive business learning experience in the capital city of Argentina. We visited Argentina for our field study in emerging markets, a unique action-based learning experience at the Ross School of Business in partnership with the Universidad Torcuato Di Tella as part of the Global MBA program.

After a 10-hour flight from Detroit, we touched down at Ezeiza International Airport and walked around Buenos Aires, on the opposite side of the world from many of our Global MBA cohort’s homes in Asia. Through the programming at UTDT, we met with faculty, wonderful speakers, and fellow MBA students and learned and discussed Argentina’s history, as well as the political, economical, and social challenges facing the country. While the future remains uncertain, we felt the Argentinian positivity and hope for change, like the new development industrial and residential area around the Río de la Plata.

Experiencing both flourishes and setbacks, Buenos Aires’ tech industry has been blowing a new wind toward the multicultural mega city. We visited EterMax, an international gaming software developing company with a team of over 500 people that is shaping the future of advertising. After an informational session with managers, we felt that they have adopted a corporate strategy unique to “Europe in South America,” converting a former warehouse into wonderful offices, introducing open spaces and diverse work styles, attracting talented people, and accelerating business development in Brazil and Mexico in collaboration with the European teams.

The traditional companies are also trying to inspire the next generation. Bank of the City of Buenos Aires was founded in 1878 and privatized. We learned that the bank has improved its deposit volume, customer satisfaction, and corporate culture by implementing measures such as personnel management independent from the government and abolishing nepotism. On the other hand, the bank is also facing challenges such as competition with fintech companies for human resources, negotiations with labor unions, and economic stabilization. We were reminded that political and economic stability is one of the foundations for business expansion.

Our cohort was immersed into the unique culture of Argentina, and we learned so much about the economic challenges, and magnificent nature – none of which we could have learned in a lecture in Ann Arbor. We want to sincerely thank the faculty and our program coordinators at Ross and UTDT for giving us this unforgettable and fruitful learning experience. Muchas gracias. Go Blue!

- Wendy Alfhatulansar, GMBA ‘23 & Tsuyoshi Kondo, GMBA ‘23

Inaugural Online MBA Class Establishes Competitive Benchmark for Career, Salary Outcomes The inaugural cohort of the Online MBA Program at the Ross School of Business achieved competitive career and salary outcomes, according to newly released employment data. The Online MBA Class of 2022 earned a mean salary of $150,673, while those in the tech and consulting industries saw a median base salary of $165,000. This year’s graduates also received an average $26,868 signing bonus. Additionally, 82% of graduates received a promotion since beginning the program.

While the highest number of Online MBA graduates went into general management, many others chose to pursue positions in consulting, tech, and finance. In addition, 21% chose impact and sustainability roles. Ford Motor Co., Amazon, and PWC were among the top employers, along with Boston Consulting Group, Goldman Sachs, Google, Johnson & Johnson, and EY. “Our goal in developing the Online MBA Program was to offer working professionals a flexible, academically rigorous Ross education that would provide a solid foundation for their next career move and help them stand out to potential employers,” said Patti Russo, managing director of the Part-Time MBA Program. “We are encouraged by this inaugural employment report that we are delivering upon these key academic milestones.”

MBA Students Trek to NYC and Chicago to Home In On Career Goals During Professional Development Week at the Ross School of Business, the Career Development Office collaborates with various industry-focused MBA clubs to organize treks where students can visit companies and learn about different jobs and cultures, as well as meet the Ross alumni who work there.

This year, nearly 150 Michigan Ross Full-Time MBA students traveled to New York City for the investment banking and tech treks, and to Chicago for the healthcare and marketing treks. The treks served as a more casual, hands-on learning experience of the companies than students have during formal presentations held on campus at Ross or virtually.

“I chose to take part in the Tech Trek to New York City in order to visit the offices of major technology companies and network with professionals and Ross alums working in the industry. Visiting iconic companies such as Amazon, Google, IBM, Meta, The New York Times, and Salesforce to learn more about their cultures and gather information about various roles and teams across the organizations was an extremely rewarding experience. The visits were spread out over three days, giving students the opportunity to explore the best that New York has to offer in terms of parks, restaurants, museums, and so on, as well as meet with family/friends in the city,” relates Raam Charran, MBA ’24.

“Overall, I used the trek as an opportunity to validate my post-MBA goal of transitioning into the tech industry and came away with a clearer action plan on how to accomplish it.”

The Center for Positive Organizations Celebrates 20 Years of Impact Over 20 years ago, the Center for Positive Organizations (CPO) was founded at the University of Michigan Stephen M. Ross School of Business to provide a focus and impetus for scholarship and teaching. Over the years, we’ve developed engaging opportunities to spark debate, compel action, and inspire further research. Today, as the world prepares for a new time, CPO is reaching a new level as the preeminent hub for the science and practice of thriving organizations, while actively and passionately helping prepare the organizations of today, create the leaders of tomorrow, and build a sustainable future of meaning for all.

As friends, colleagues, trailblazers, and mentors, Kim Cameron, Jane Dutton, and Robert E. Quinn pioneered a new field of inquiry at Michigan Ross— Positive Organizational Scholarship—and founded the Center for Positive Organizations in 2002. Along with their individual accomplishments, they achieved many successes together. Their impact at the University of Michigan and with the Center for Positive Organizations is immeasurable, and it’s clear they have made great and lasting change.

The first time that Positive Organizational Scholarship (POS) was integrated into a Michigan Ross core MBA course was in 2003 in “Human Behavior and Organizations: Managing for Excellence in Work Organizations.” From this initial offering, CPO has worked tirelessly to create learning programs for University of Michigan’s best and brightest students with ripples of impact that are far reaching. Student demand for CPO’s programs has continued to grow with the need for additional programming expanding.

CPO’s current programming provides undergraduate, graduate, and doctoral students a variety of opportunities to engage with our community. During the 2021-22 academic year, a total of 493 students spent 11,474 hours in CPO’s programs learning about POS principles and practices that build highperforming organizations that enable people to thrive.

CPO reached students in 8 of the 18 schools and colleges on U-M’s campus, like engineering, environment and sustainability, medicine, public policy, and business.

The Center for Positive Organizations believes that qualities such as compassion, civility, ethical behavior, and wellbeing matter. They matter not just for employees, but they also significantly impact organization performance and productivity. CPO strives to bring the benefits of POS to the workplace to inspire and enable leaders to build thriving organizations that bring out the best in people.

Over the years, CPO has developed several research-to-practice tools that have been used by companies, organizations, and universities such as the Bill and Melinda Gates Foundation, Intel, Miami HEAT, United Airlines, and Yale University. Last year, over 7,000 people used the center’s research-to-practice tools to help build thriving organizations.

Positive Organizational Scholarship research uniquely defines CPO and has become a major focus for organizations. POS principles and practices empower leaders to create thriving work environments, improving the culture of their workplace and helping them discover what is possible with their employees and within their organizations.

From pioneering POS as a new field of inquiry at Michigan Ross, CPO now boasts a global network of over 670 formally affiliated POS scholars whose research we support, expand, and amplify. The center hosts the biennial POS Research Conference, where in 2022, over 160 abstracts were submitted for inclusion across 12 research tracks and nearly 200 POS scholars attended the two-day event.

Over the last 20 years, CPO has earned international recognition for our impact on research and practice. The center is the leading research hub focused on the leadership, strategies, systems, culture, and practices of thriving organizations that enable people to be their best selves in the workplace.

Looking toward the next 20 years, CPO intends to remain at the forefront of innovation and scholarship. Using a depth of research and a breadth of evidence, CPO will help organizations thrive, inspire individuals to realize their potential, and build students who will influence change and create impact.

Winter 2023

• Michigan Ross Recognizes Distinguished Accounting Professionals • BBA Class of 2022 Sets Record Highs for Job Acceptance and Salary • Michigan Ross Rises in Rankings for Best MBA Programs for Entrepreneurship • Study Finds Gap in VC Funding for Black Startup Founders • BlueConduit Joins White House Partnership to Find, Remove Lead Pipes Across U.S. • One Student’s Experience Navigating Michigan Ross and Starting BlackGen Capital • Course Spotlight: Students Deliver Solutions and Recommendations to Small Businesses • Overcoming Systemic Racism at 2023 MLK Symposium Keynote Lecture • Learning, Leading, and Connecting at the Largest Leadership Crisis Challenge • Michigan Ross Professor Jeremy Kress Advising DOJ on Bank Mergers • MBA Students Prepare for Immersive, Real-World Experiences in 2023 MAP Course • Record-High Job Acceptance and Salary Outcomes for the One-Year Master’s Class of 2022

Michigan Ross Recognizes Distinguished Accounting Professionals Founded in 2016, the Honorary Paton Fellow Award honors individuals each year who have made significant contributions to the accounting industry. A track record of community or professional service and a positive impact on Michigan Ross accounting education is common among Honorary Fellows in both categories. The 2023 recipients of the Michigan Ross Honorary Paton Fellow Award are Douglas McClintock, BBA ‘67, MBA ‘69, in the Lifetime Achievement Category and Alexandra Roselle, BBA/Bachelor’s in Musical Arts ‘11, MAcc ‘13, as a Rising Star. A track record of community or professional service and a positive impact on Michigan Ross accounting education is common among Honorary Fellows in both categories.

Throughout McClintock’s 50-year-long career, he left a storied legacy. After retiring from Arthur Andersen in 2000, McClintock dedicated six years as an adjunct professor at Michigan Ross and served as a member of the Paton Advisory Board for 14 years. McClintock has demonstrated his lifetime commitment to the accounting profession through his dedicated service to clients, students, the community, and the University of Michigan.

Roselle currently leads an HBOMAX Content and Programming Finance team at WarnerBros Discovery. She has risen through the ranks while navigating multiple organizational transformations since arriving at HBO in 2015. She generously maintains several volunteer commitments at U-M, balancing her dual passions for accounting and the arts, and her unique career path is an inspiration to others. .

BBA Class of 2022 Sets Record Highs for Job Acceptance and Salary BBA employment report data from the Ross School of Business details recordsetting data across multiple categories for the Michigan Ross BBA Class of 2022. An all-time-high 99.6% of Ross BBAs accepted job offers by Sept. 30.

Their record-setting average median base salary of $90,000 represents a 15% increase from last year. In addition, their median total compensation of $97,000, an increase of 12% over last year, is the highest on record.

Financial services was the top industry destination, with consulting and tech rounding out the top three. The report also shows the emergence of data analysis as a desired function, while roles in social impact and sustainability remain of interest, with 10% choosing to pursue positions in this area.

BBA graduates accepted positions at some of the world’s most soughtafter companies — PwC Strategy&, McKinsey & Company, Pepsi, Nike, and Microsoft — with a significant presence in other notable hiring companies spanning industries and functions. Four out of five BBAs accepted jobs on the East Coast, West Coast, or in Chicago.

The new report also looks at the employment data for summer internships held by the Class of 2023. BBAs interned at more than 300 companies in 2022 with many of the same highly desirable employers, such as EY/Parthenon, Apple, Bain & Company, Morgan Stanley, and Google.

Michigan Ross Rises in Rankings for Best MBA Programs for Entrepreneurship The Ross School of Business jumped to the No. 2 spot on both Poets&Quants’ and the Princeton Review’s rankings of graduate studies in entrepreneurship, out of more than 300 schools. Both rankings considered many factors. The Princeton Review conducted surveys about course offerings and requirements, student and faculty data, competitions and out-of-school activities, and scholarships and aid.

Poets&Quants also focused on the school’s accelerator space and venture funds available. This transparency in the ranking system allows for potential students to learn more about each school and weigh which criteria are most important to them.

Last year, Michigan Ross placed fourth on the Princeton Review’s list and seventh on Poets&Quants. This five-spot jump in the Poets&Quants ranking is the highest that any school improved this year.

In conjunction with the Princeton Review, Entrepreneur also highlighted Michigan Ross as the No. 1 graduate program for entrepreneurship in the Midwest. They touched on the impressive 88 entrepreneurship courses offered for students, which inspired the conception of 286 companies in the past five years post-graduation.

Study Finds Gap in VC Funding for Black Startup Founders Despite launching startup companies that are just as likely to ultimately find success, Black founders raise only one-third as much venture capital funding as others during the first five years, according to new research.

There are many potential factors at play, including investors’ biased beliefs, inaccurate stereotypes, or a standing practice of sourcing deals from within networks that don’t include Black entrepreneurs.

Investors also might be using “race as a proxy for unobserved variables they believe are positively related to future success but negatively associated with Black founders,” according to the study recently published by the National Bureau of Economic Research.

The researchers also find the funding gap dissipates in later stages of funding, suggesting that investors’ biases “dynamically reverse as they learn more about Black entrepreneurs’ capabilities.”

“Policymakers could invest more in getting minority founders to participate in the patenting process. A patent is one of the most important characteristics investors consider when deciding to fund a startup, and Black founders are less likely to have a patent,” says Emmanuel Yimfor, Ross assistant professor of finance and co-author of the study. “We also show the importance of having Black partners at investment firms. Investment firms with Black partners are more likely to invest in Black founders, and these deals are more likely to be successful. Thus, increasing the funding for funds that employ Black partners or funds raised by Black partners could increase minority representation in high-growth entrepreneurship.”

BlueConduit Joins White House Partnership to Find, Remove Lead Pipes Across U.S. A Ross School of Business startup that helped accelerate the removal of dangerous lead pipes in Flint and many other communities has joined a White House partnership aimed at replacing all of the nation’s lead service lines in a decade.

Eric Schwartz, BlueConduit’s co-founder and an associate professor of marketing at Michigan Ross, gathered last week with representatives of roughly 100 other organizations at a summit to launch the BidenHarris Get the Lead Out Partnership. The public-private initiative aims to expedite the removal of lead in drinking water — a problem that rose to national prominence when lead was discovered in Flint’s drinking water several years ago and spurred a public health crisis.

In December 2021, the Environmental Protection Agency released its Lead and Copper Rule Revision, which requires all U.S. water systems to develop lead service line inventories by October 2024. The EPA included BlueConduit’s work and predictive modeling in its Service Line Inventory Guidance.

The water analytics company originated the approach of using machine learning to predict the location of lead pipes and is working with cities to help meet their inventory deadline. “BlueConduit’s mission focuses on using data science and innovation to enable and empower communities to get the lead out, efficiently and equitably,” Schwartz said. “This partnership is a crucial step in combating lead exposure in our country, multiplying our combined efforts to exponentially reduce the number of days families live with the risk.”

One Student’s Experience Navigating Michigan Ross and Starting BlackGen Capital I was originally in the College of Literature, Science, and the Arts (LSA) when I got accepted into Michigan, but my main goal in my first year was to go into business. Thankfully, I was able to find out about Preparation Initiative (PI), a community that helped me prepare to transfer to Ross.

PI was and has been a transformative part of my academic career, the program helped prepare me professionally and socially, giving me the confidence and tools needed to succeed in such a high-achieving environment. After transferring to Ross, I found Delta Sigma Pi Business Fraternity (DSP), where I realized my interest in Finance. Even though I didn’t come from a traditional finance background, brothers in DSP continually reassured me and gave me the tools to succeed. Both of these communities have been and continue to be an integral part of my success.

Throughout my few years in college, I noticed a lack of accessibility and opportunity for minority students to learn more about finance, and I wanted to help in any way I possibly could. That is why I, along with my friend Omar Elrashid, founded the U-M chapter of BlackGen Capital, an organization focused on closing the access gap by creating a pipeline for talented minority students interested in entering the financial services industry. BlackGen Capital members are provided with a standardized 10-week educational series, mentorship, and most importantly a community. Our goal was not only to create a space for students in Ross, but all over campus, and we have seen great progress in doing so. As President of the Michigan chapter, my goal is for every student who enters BlackGen to learn more than I was able to through my first few years at Michigan, and I believe it is already happening!

- Roman M. Rhone, BBA ‘24

Course Spotlight: Students Deliver Solutions and Recommendations to Small Businesses During the winter term, undergraduate students at the Ross School of Business leveraged their knowledge of consumer behavior and their creativity to assist hundreds of minority-owned and small businesses.

In MKT 313: Consumer Behavior, student teams work throughout the entire semester with real clients that are mostly from Detroit, many of whom are sourced

by Detroit Neighborhood Entrepreneurs Project. Student teams gather and analyze data to identify their clients’ target customer, what their customers value in their decision-making and why. From this research, teams recommend marketing strategies for their clients to implement. The experience is designed to mimic an internship where students are enhancing many hard and soft skills like account management, research, communication, graphic design, and media planning.

“I have always believed that small businesses are the backbone of our economy, which is largely why I partner with them in my marketing classes at Ross,” said Amy Angell, lecturer of marketing at Michigan Ross. “Learning from and working with entrepreneurs, especially minority-owned businesses, allows my students to implement change and make a difference for brands who don’t have the same resources — time, people, and money —- as other businesses.”

According to Angell, each project created for partnering companies is equivalent to a market value of $7,000, and to date, teams have serviced 120 small businesses from the city of Detroit and 140 small businesses in Ann Arbor and surrounding areas.

Overcoming Systemic Racism at 2023 MLK Symposium Keynote Lecture The Ross School of Business and the University of Michigan welcomed three highly acclaimed speakers to participate in the keynote address for the 37th Annual U-M Reverend Dr. Martin Luther King Jr. Symposium.

The speakers – Dr. Aletha Maybank, Edward Buckles, and Jalen Rose – addressed the symposium’s theme: “(R)evolution: From Segregation to Elevation.” Speaking first, Maybank spoke about the history of racism in the American Medical Association, as well as the steps that have been taken toward progress and reparations. Buckles examined the inequalities and racism that was exacerbated by Hurricane Katrina and captured in his debut documentary, Katrina Babies. Finally, Rose discussed the systemic barriers to education that exist in society today and how we can work to overcome them.

In addition to the Annual U-M Reverend Dr. Martin Luther King Jr. Symposium, three students from Michigan Ross were recently among 13 undergraduate students from across the university who were recently recognized for the 18th Annual MLK Spirit Awards.

Annie Wang, BBA ’23; Roman Rhone, BBA ’24 (featured in an earlier story); and Karma Karira, BBA ’23 received the MLK spirit award for exemplifying the leadership and vision of the Rev. Dr. Martin Luther King Jr. After having been nominated by faculty or staff and submitting an essay describing their work to foster equity, inclusivity, and social justice, the award winners were honored at a ceremony highlighting the ways that students have worked to carry on King’s legacy.

Learning, Leading, and Connecting at the Largest Leadership Crisis Challenge Nearly 300 students joined forces to take on the Sanger Leadership Crisis Challenge in January 2023. The Leadership Crisis Challenge is an annual program put on by the Sanger Leadership Center that challenges students to step into the role of C-suite executives to handle a simulated crisis. This year, for the first time, graduate and undergraduate students competed on the same day. Many students from Ross and other schools across campus participated. It was the largest turnout in the history of the program, with 297 student attendees, and graduate and undergraduate teams from various schools across campus, including engineering, public policy, law, medicine, dentistry, and more.

In the scenario presented by the Sanger Leadership Center, autonomous vehicle technology had gone awry and caused a crash. Students had to manage media backlash, address stakeholder concerns, and decide how to best handle risks to the company’s reputation, government relationships, and even lives. The exercise took place over the course of two days, and at the end two teams were selected as winners: Driven to Succeed from the undergraduates, and MomentUM from the graduate students.

“I did the program in 2022 and 2023,” said Ricardo Peres Da Silva, BBA ’25, who was a member of this year’s winning undergraduate team. “It was a wonderful experience both years and throughout this experience I really developed my ability to respond to situations quickly, respond to crises,

Michigan Ross Professor Jeremy Kress Advising DOJ on Bank Mergers The Department of Justice is reviewing its guidelines for bank mergers, and Ross School of Business Assistant Professor Jeremy Kress is playing a key role in the process.

Kress recently began a detail assignment as counsel to the assistant attorney general for antitrust. He will advise on bank merger policy as the DOJ evaluates its guidelines, which were originally adopted in 1995.

Kress — an assistant professor of business law at Michigan Ross and co-faculty director of the University of Michigan’s Center on Finance, Law & Policy — previously worked as an attorney in the banking regulation and policy group at the Federal Reserve Board of Governors in Washington, D.C. “My interest in bank mergers stems from my experience at the Fed, where I assessed the legal permissibility of mergers and acquisitions. As an academic, I have written about strategies to improve the legal framework governing bank merger oversight and enhance competition in the banking sector. I’m excited for the opportunity to now work on these issues at the DOJ,” Kress said.

Kress has commented extensively in the press on bank mergers and written two articles, ”Reviving Bank Antitrust” and ”Modernizing Bank Merger Review.” The former article was recently recognized by the Financial Times in its Responsible Business Education Awards. Among other issues, Kress has said that the current climate for bank mergers harms consumers, minority communities, and small businesses; and he has argued for stronger standards for banks proposing to merge.

Record-High Job Acceptance and Salary Outcomes for the One-Year Master’s Class of 2022 The 2022 employment data for the Master of Accounting, Master of Management, and Master of Supply Chain Management programs show that Ross School of Business graduates continue to earn competitive salaries and find employment with desirable companies across industries.

Some highlights include: • MAcc graduates experienced a record-high job acceptance rate, with 100% of reporting students accepting a position within six months of graduation.

• An all-time high 100% of reporting MM students received job offers within six months of graduation, and 99% accepted their offer in that time.

The median base salary they received was a record high $74,500.

• Reporting MSCM students from the Class of 2022 saw a record high mean base salary of $110,000, compared to $84,000 in 2021, and a job acceptance rate of 97% within six months of graduation.

“The Michigan Ross one-year master’s degrees continue to combine the leadership training, in-depth curriculum, and career development opportunities that translate into career outcomes for our graduates,” said Kaci Kegler, managing director of one-year master’s programs at Michigan Ross.

“Having this strong academic foundation opens up unlimited possibilities for our students to make an impact in any organization and position themselves well for future career success.”

The Michigan Ross Career Development Office provides dedicated career coaches to all one-year master’s students, along with resume workshops, interview training, and more. “We are pleased that Michigan Ross OYM graduates remain competitive in today’s job market and are recognized as strong candidates by the world’s top companies,” said Heather Byrne, managing director of the Career Development Office at Michigan Ross. “Our graduates have a wide variety of interests, skills, and desired career paths, and our coaches are committed to providing the support and resources that students need to achieve their professional goals.”

MBA Students Prepare for Immersive, RealWorld Experiences in 2023 MAP Course In March 2023, Full-Time MBA students at the Ross School of Business began their seven-week Multidisciplinary Action Projects (MAP), tackling real-world business challenges with a team of other students. All in all, they took on 71 MAP projects in 16 different countries, focusing on marketing, strategy, operations, and finance. From technology to healthcare to sustainability to government services, each project is designed to fulfill every student’s career interests.

Using what they have learned at Michigan Ross, MBAs will gain handson experience in industries they are interested in. Students will develop innovative solutions for sponsor companies while learning problem-solving and leadership skills.

“MAP provides a high impact capstone experience in the last term of the first year MBA experience.” said Gretchen Spreitzer, associate dean for engaged learning and professional development and professor of organizational behavior and human resource management. “This year, we are excited to have our teams back on site with more than 50% of teams traveling internationally.

No other school provides this kind of action-based learning experience for every MBA student.”

Spring 2023

• How One Student’s Life Changed After Transferring to Michigan Ross • Shining a Spotlight on U-M FinTech Ecosystem at 2023 Conference • Becoming a Voice For Women in Finance • Michigan Ross Unveils State-of-the-Art Extended Reality Digital Education Studio • Exploring Ethics in Business with Tyler Shultz at the Mitchell Lecture Series • Foundations for Success Initiative Gains Momentum • Celebration in Honor of Tom Jones • Students Fight Climate Change Through MAP Projects with the Erb Institute • Ross MBA Programs Rank Top in U.S. News & World Report 2024 Rankings • Tauber Affiliate Programs Earn High Ranks • Meet the First Graduating Class from the Master of Business Analytics Program • A “Seat at the Table” for Students in the Preparation Initiative • For Matt Kripke, BBA ‘90, Positive Culture Sustains Family Recycling Business • Ross 2023 Commencement Highlights

’22

How One Student’s Life Changed After Transferring to Michigan Ross When I came to Michigan in 2018, I thought I wanted to be a doctor. But after a challenging first few months away from my California home, I started to embrace change, and the Ross transfer application caught my eye. Though I was a bit intimidated by what I had heard about how rigorous Ross was, reflecting on my skill set and entrepreneurial spirit, I started to see a fit. I submitted the application and crossed my fingers. In early July, 2020, I got in. I was elated, but disappointed by the social limitations of a virtual environment. I trekked along my first semester, interviewing for clubs but still found it difficult to find a community.

In the Winter semester, I became a BBA Ambassador, which helped me feel confident about my transfer experience. The following summer, I was accepted to study abroad in Paris. Slowly, my Ross experience was coming together. The Ross Integrative Semester classes were interesting, and more elective freedom led me to a marketing specialization. As a result, I had success recruiting and landed an internship with Procter & Gamble.

Suddenly, I started to feel like maybe I had belonged all along. With my new friends, I shared values, humor, and interests. As a result, I entered my internship with reignited confidence. While I struggled through some of the work at the beginning, I was reminded that I deserved to be there; my experiences since I had gotten into Ross had shown me that I was capable of overcoming hardship and achieving success. At the end of the summer, I got the return offer.

My newfound confidence overflowed into every area: I participated in class, built more friendships, and mentored P&G hopefuls. I felt like I finally had permission to just be myself, and it paid off with an amazing semester. For me, it took a lot of trial and error to find my fit, but as much as I feared it wouldn’t happen for me, Ross has completely changed my life.

- Delaney Walsh, BBA ‘23

Shining a Spotlight on U-M FinTech Ecosystem at 2023 Conference This past March, the Michigan Ross FinTech Initiative, Michigan FinTech, and the Michigan Investment Group hosted the 2023 Michigan FinTech Conference at the Robertson Auditorium at the Ross School of Business, drawing students from various majors across the U-M campus community. Topics discussed at the event included: ways technology is disrupting every facet of the financial world through decentralization, AI, machine learning, and how fintech can be leveraged as a force for social good.

The conference included student speakers from College DAO, which aims to build bridges between college campuses and the larger Web3 ecosystem by promoting education about blockchain, and by facilitating project and startup launches. Following the speakers’ presentations, the conference featured a showcase of student team projects related to robo-advisory software and algorithmic trading. Students also participated in a trading competition and learned about career opportunities in quantitative finance, blockchain, and decentralized finance. “This event was the perfect opportunity to network with industry leaders, Ross faculty, and student entrepreneurs within Michigan’s fintech ecosystem, and spark insights about a field that is rife with innovation and disruption,” said conference organizer Saanika Kulkarni, class of 2024 in the College of Engineering.

This year’s FinTech Conference featured industry expert Anshul Mehta, a product leader and strategist with nearly a decade of experience. He most recently served as a product manager on the new product development team at Goldman Sachs. Mehta, who graduated from the University of Michigan College of Engineering in 2014, gave his insights on the ways that big data can create more personalized financial products, finding room for innovation in a heavily-regulated industry, and building a “win-win” relationship between startups, incumbents, and Big Tech. Mehta noted his enjoyment at coming back to Ann Arbor, and being able to connect with “impressive student organizations that are way ahead of their time.”

Becoming a Voice For Women in Finance Navigating the financial services industry as a woman was initially an entirely foreign concept, but I was able to discover a community full of unique perspectives that provided support and familiarity along the way.

Reflecting back to the beginning of sophomore year, it was my first time on campus as an out-of-state student, who maybe knew a small handful of other students. Joining the Och Initiative that first week was exactly what I needed to act on my ambitions. The Och Initiative is designed to provide additional opportunities and resources for women interested in exploring the endless possibilities of a career within the financial services industry and I became heavily involved my sophomore year.

Fast forward to a few months later, I was participating in a 4-week educational training portion of Girls Who Invest where 200 other scholars and I took several finance and investing classes and attended professional development events at the University of Pennsylvania. The training culminated in a final capstone presentation, a stock pitch, and graduation ceremony with networking at J.P. Morgan in New York City. As more weeks passed, the project helped me and my peers grow personally and professionally and gave me further confidence going into my Fundamental Equity Analyst internship at Schonfeld, a technology-driven hedge fund, for the rest of the summer.

Through the Och Initiative and GWI, I was able to confidently navigate the financial services industry with a new support system that I will always be connected to and discovered how I can be a part of changing the face of women in investing for future generations.

Most importantly, I found a sense of comfort in my identity and learned to celebrate being the minority in my field. Who I am will never hold me back, and I now know the importance my different perspective will bring to the table.

- Aashka Patel, BBA ‘24

Michigan Ross Unveils State-of-the-Art Extended Reality Digital Education Studio Students in the Online MBA and Executive Education programs at the Ross School of Business are benefiting from a new digital education studio that puts them in a cutting-edge virtual classroom. The Convatec Digital Learning Studio creates a 3D environment where online students become part of a fully engaged classroom community. The studio features graphics technology similar to that found in immersive video games, so that students and the professor feel that they’re truly present together in a virtual classroom.

Some of the features of the new studio include: • High-resolution LED screens with increased pixel density, which improves the clarity of detailed charts, graphs, and other visual content • New behind-the-scenes technology such as three robot-controlled cameras and an automated system tracking the professor’s movement in the studio, which helps create a seamless experience for students • Augmented reality capabilities, which allow for interactive 3D objects and graphics • A larger physical space than most similar studios, helping to create a traditional classroom atmosphere • Several different photo-realistic virtual backgrounds that incorporate distinctive architectural features of the Michigan Ross campus Students report that the new studio substantially enhances their learning experience. The new studio was made possible thanks to a gift from Convatec.

It expands upon the capabilities of the first digital studio at Ross, which was introduced in 2019. Together, the two constitute a digital education suite keeping Michigan Ross at the forefront of online learning. Including helping to deliver virtual or hybrid programs for companies and professionals in Ross’ Executive Education program.

Exploring Ethics in Business with Tyler Shultz at the Mitchell Lecture Series Ross welcomed Tyler Shultz, a Theranos whistleblower and entrepreneur, as the speaker for the second annual Mitchell Lecture Series, funded by the Patricia W. Mitchell Trusts. Approximately 400 people attended this year’s Mitchell Lecture, which was presented by the Mitchell Program for Business ethics and Communications at Michigan Ross. The lecture series highlights thought leaders who are trailblazers in media and business, and who exemplify the importance of ethics.

In a conversation with Sharon Matusik, Edward J. Frey Dean of Business, Shultz shared his experience as a 20-yearold working for Theranos, the fraudulent blood-testing practices he witnessed first-hand, and the steps he took to expose the company.

Shultz also described what it was like to work with Elizabeth Holmes, the founder and CEO of Theranos who was recently sentenced to 11 years in prison. A major takeaway from his talk was related to the culture of fear that Holmes had created, which prevented many people from coming forward with the truth. As a result, Shultz emphasized how fostering a positive culture is crucial when it comes to creating ethical organizations. “I think you need to build a culture where people are encouraged to talk to each other, where it’s okay to disagree with each other, it’s okay to disagree with the CEO, and you should have ways of discussing disagreements,” said Shultz.

Additionally, Shultz noted how ethical dilemmas can occur at any point during a professional career, and he encouraged the audience to speak up when they witness wrongful practices, even at the smallest scale.

Foundations for Success Initiative Gains Momentum The University of Michigan Ross School of Business secured more than $58 million (nearly 30 percent) toward its $200 million goal for Foundations for Success, which seeks to increase the amount of funding available for scholarships and student experiences at the school.

This boost in funding is already making an impact. Since Foundations for Success was launched in Fall 2021, alumni and friends have established 39 new scholarships at Michigan Ross, bringing the total to more than 400 donorfunded scholarships at the school. During the 2022-2023 Academic Year, 885 Ross students received more than $12 million in support from these scholarship funds.

“Every day is a great day when we can open up opportunities to students through scholarships,” said Sharon F. Matusik, Edward J. Frey Dean of Business at Michigan Ross. “Scholarships allow bright and ambitious individuals to receive a world-class education at Ross, and they help prepare them for success in a changing and globally connected world.”

Dual major and first-generation master’s student Sean-Michael Steel, MBA/ MPP, ’24, spoke about what scholarship support means to him: “What may feel inconsequential to some students and their families could be insurmountable to others,” he said. “For me, receiving a scholarship was the only way I could afford to be at a school like this, and it will forever change my future and, by extension, the futures of those I hope to serve.”

Celebration in Honor of Tom Jones Nearly 50 people gathered at the University of Michigan Ross School of Business on April 25 to celebrate the ongoing legacy and strategic impact of Thomas (Tom) C. Jones, BBA ’68, MBA ’71, a prominent donor and valued advisor to the school. The celebration kicked off with a ribbon cutting of the newly named Thomas C. Jones Undergraduate Innovation Suite and concluded with a program featuring remarks by Edward J. Frey Dean of Business Sharon F. Matusik and others.

“Tom Jones has been a steadfast supporter of the Ross School of Business for decades,” Dean Matusik said, “and his targeted philanthropic giving to transform our BBA program continues to have real-life positive impacts on our undergraduate students.”

The Thomas C. Jones Undergraduate Innovation Initiative was created in 2005 with the goal of enhancing the core educational experiences of undergraduate students through a robust portfolio of innovative leadership development opportunities, action-based learning programs, and integrative experiences. More recently, Jones funding enabled the creation of the Thomas C. Jones Associate Deanship for Undergraduate Education. This is the first named associate deanship across the university.

Jones’s vision for an extraordinary and results-driven BBA program has, indeed, come to life, thanks to his extraordinary dedication and support.

Students Fight Climate Change Through MAP Projects with the Erb Institute This April, Michigan Ross students celebrated Earth Month in conjunction with the Erb Institute for Global Sustainable Enterprise.

Students made an impact in numerous ways, from raising awareness about sustainability topics in the business world during Climate Week, to creating plans for accelerated pathways to a world with net-zero emissions.

Ross and the Erb Institute have enjoyed a 25-year partnership that allows students to earn an MBA from Ross and an MS from the School for Environment and Sustainability at the same time. One of the biggest ways Ross and SEAS students make an impact while earning their degrees is through the Multidisciplinary Action Projects course.

In this current academic year, MAP has had a total of 19 projects centered around climate change.

One such project was with Treemetrics, a for-profit technology company in Ireland that has the ability to map a forest from the ground or via a drone or satellite in real time. Treemetrics is unique in the field in that they can also measure the CO2 footprint of the land, trees, and canopy. Treemetrics worked with Executive MBA students to develop a strategic plan for the next generation of high-tech solutions to better manage the world’s limited strategic resources.

Ross MBA Programs Rank Top in U.S. News & World Report 2024 Rankings Michigan Ross is one of the top universities in the country to attend for your MBA, according to the 2024 Graduate Business Schools Rankings by U.S. News & World Report.

Ross MBA programs remained in the top 10 this year. The Full-Time MBA Program rose from its former spot at No. 10 in the country to No. 8, and both the Part-Time and Executive MBA programs placed at No. 7. Additionally, U.S. News ranked the following nine Michigan Ross graduate business specialties in the top 10: • • • • • • • • •

Project management: No. 2 Marketing: No. 3 Management: No. 3 Production operations: No. 5 Accounting: No. 5 Nonprofit: No. 5 Entrepreneurship: No. 8 International business: No. 8 Finance: No. 10

The Full-Time MBA Program moved up to No. 8 this year, tied with Yale University.

Michigan Ross’ Weekend MBA Program maintained its ranking as the No. 7 part-time MBA program in the nation this year. The Executive MBA Program also remained within the top 10 at its rank of No.7. The two programs continue to utilize Michigan Ross’ signature action-based learning curriculum to prepare students to take their careers to the next level or even pivot to a new industry.

Tauber Affiliate Programs Earn High Ranks The University of Michigan continues to be recognized as a higher education leader in the latest U.S. News & World Report rankings of graduate programs.

In the most recent graduate program rankings, Michigan Engineering placed 7th (tie) among the Best Engineering Schools and Michigan Ross School of Business placed 8th (tie) among Best Business Schools. U-M ranks 2nd for Industrial / Manufacturing / Systems Engineering specialty programs and 5th for Production / Operations MBA programs.

U.S. News highlighted the contributions of institutes affiliated with the Michigan Ross School of Business to the U-M student experience, explicitly mentioning the Tauber Institute for Global Operations and the Erb Institute for Global Sustainable Enterprise. The report also featured the commitment of U-M business programs to action-based learning and the strong alumni connections available to current students, such as Michigan Engineering’s Just ASK (Alumni Sharing Knowledge) program.

The Tauber Institute for Global Operations is a joint venture between the University of Michigan’s Ross School of Business and Michigan Engineering, working together with industry partners to facilitate cross-disciplinary education in global operations management. The Tauber Institute is an inaugural recipient of the UPS George D. Smith Prize for effective and innovative preparation of students to be good practitioners of operations research, management science, or analytics.

Meet the First Graduating Class from the Master of Business Analytics Program Michigan Ross welcomed its first-ever cohort of Master of Business Analytics students in the fall of 2022. The new, 10-month program attracted students from seven countries and dozens of undergraduate schools around the world.

After immersing themselves in Ross’s action-based curriculum, the MBAn Class of 2023 will leave Ann Arbor prepared to make their mark on the world.

Over the course of the program, students got the opportunity to gain valuable experience learning and applying analytical skills to solve real-world problems using complex data.

Four members of the Michigan Ross MBAn Class of 2023 share their experiences as the first students to graduate from the program, including their most valuable takeaways, plans for the future, and more.

Tong Su, Guangzhou, China “The most valuable thing I learned during the MBAN program was to take advantage of networking opportunities. During the summer term, the Career Development Office hosted workshops for job searching and networking.

Beginning in mid-August, there were many recruiting events, coffee chats with alumni, and career fairs at Ross. These opportunities and experiences helped me learn to network and also to become more confident during interviews.”

Tom Davis, Bloomfield Hills, MI “I chose the Michigan Ross MBAn program because I knew it had the caliber of education that only this school is able to provide. My economics major helped me develop some great frameworks around quantitative and qualitative problem solving, and I thought that the MBAn program would be the perfect opportunity to develop that even further.

During this program, I learned how important teamwork is in the projects that revolve around data analytics. There’s usually a high degree of ambiguity surrounding them, so communication and collaboration are key.”

Kami Ziolkowski, Romeo, MI “I enjoyed learning how to make impactful and useful visualizations. I didn’t think I was going to need a whole class on making graphs and charts, but I think it was the most impactful for me. I have used the techniques from that class in every project after that. The program has not only taught me a lot about analytics and the business world, but also how to prepare myself for interviews. The Career Development Office did a great job of teaching us how to look for jobs and how to make yourself an extremely competitive candidate.”

Rajat Kadian, Sonipat, India “For me, the biggest pull was the competitive and collaborative academic model of the college, which I knew would challenge me as a person and a young professional. Being an international student, I was looking for a rigorous STEM program that would prepare me to find answers for today’s issues and build tomorrow’s solutions. This degree was a large personal experiment that made me not only more proficient with handling and analyzing data, but also a more confident individual.”

A “Seat at the Table” for Students in the Preparation Initiative Do you remember the first time that you were encouraged or inspired to pursue your particular career path? A group of 16 students in the Preparation Initiative (PI) recently got the chance to explore the world of consulting. Lauren Clarkson, director of academic success in the Office of Undergraduate Programs, recently led a trek to the Detroit office of McKinsey & Company, which houses a team of more than 20 partners and nearly 200 other colleagues.

“The 2022-2023 Academic Year is the first that students have been able to experience in- person treks since the COVID-19 pandemic began,” Clarkson said. “These visits are extremely valuable for our students, who gain so much insight from going in person to experience potential future career paths.”

The Preparation Initiative is a learning community designed for U-M undergraduates geared toward, but not limited to, students with minoritized identities who have a demonstrated interest and potential for business leadership but may have had limited previous exposure to rigorous, related coursework. Every year the PI program supports a group of 30-40 first-year students interested in business. The program also supports program “alums,” who are students in their sophomore-senior year as BBA students.

“This visit was an incredibly rewarding experience—nothing compares to being able to sit in the same room and build tangible relationships with future employers,” said PI sophomore Paige Pierce, ’25. “I came with questions about the consulting field, and this opportunity gave me answers. The Preparation Initiative gives students like me the resources, connections, and insight to succeed. I’m leaving today with a game plan and newfound confidence. My biggest takeaway from the visit is that this path is possible for me—I have a seat at the table. PI makes it real.”

For Matt Kripke, BBA ‘90, Positive Culture Sustains Family Recycling Business Building a positive culture is a key part of Matt Kripke’s, BBA ’90, role as CEO of his family’s metal recycling business, Kripke Enterprises Inc., which has grown from a mom-andpop shop into an enterprise with 70 employees in four states, multiple divisions, and $375 million in sales during 2022.

Matt didn’t always know he wanted to work for the family company, but from a young age he knew he wanted to pursue a career in business. Today he works alongside his father, Larry Kripke, BBA ’65, who is also an alumni of the Ross School of Business.

Today, Matt is the public face of Kripke Enterprises, Inc. and his dad has shifted into the founder role. Matt focuses on mentoring and coaching, collaborating with the company’s leadership team, negotiating, and serving as a cultural ambassador.

Matt is deeply committed to building and maintaining a positive workplace culture and frequently taps into programs and resources at Michigan Ross and the University of Michigan to achieve this goal. For example, he is actively involved with the Center for Positive Organizations and has applied many best practices learned to support his employees and help them thrive. In 2021, he launched a first-time home buyer’s program to help employees with down payment costs and mortgage costs.

“It boils down to: Do you treat your employees well? Do you treat your customers well? Are you good stewards of the environment, of the economy, of the community? We focus on all those things.”

Ross Commencement Highlights April 28, 2023 CLASS STATS: • More than 1,600 graduates from 39 countries • 13 PhDs • 694 MBAs across six programs • 311 graduates from one-year master’s programs • 52 inaugural MBAn students • 616 BBAs

“Don’t live for the headlines. Don’t live for the hashtags, the memes, the slogans. They get liked, shared, or turned into an inspirational Instagram post left and right. The problem is that these misleading slogans, sooner or later, become what we think we must live by, and we’ll do anything to stay on slogan, to stay on brand. We have so many voices telling us what success and happiness is. But what about our voice?”

Keynote Speaker Richard Lui, Award-Winning NBC Journalist

“Class of 2023, we are so optimistic about our collective future, with graduates like you poised to lead it.”

- Dean Sharon Matusik

“As we leave the warm family that we built in Ann Arbor and one of the best business schools in the world, we must keep the same faith that we had when we started: that we are the best investment of our lives .”

Orel Haim, MBA ‘23, Speaker and FirstGeneration College Student