Viewbook: Sam M. Walton College of Business

W AL TON

VIEWBOOK

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est.

1926

#27

Majors Offered

#5

Programs, Organizations, & Honor Societies

Public Business School by U.S. News and World Report, 2018

Best Places to Live in the USA by U.S. News & World Report, 2017

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with 15 Minors Available

55+

6,000 35% 65%

Undergraduate Students In-State Students

43%

Contents 4 The Big Picture 6 Define Yourself 8 Walton 10 Academic Majors 30 The Right Resources 32 Hands-on Experience 34 Outside the Classroom

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Out-of-State Students

36 It’s Your World 38 It’s Home 42 Our Past 43 Our Future 44 Letter from the Dean 46 Visit Walton

walton.uark.edu

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The Big Picture Business transcends all areas of the world – from music to sports to finance. Paralleling current business processes, the Sam M. Walton College of Business’ academic curriculum looks across a broad spectrum of disciplines. By integrating accounting, economics, finance, information systems, marketing, supply chain management, retail, management and international business, you will understand all dimensions of business instead of just one.

Through our innovative curriculum, you will learn to think in the big picture concepts that employers desire and prepare to define yourself in the business world.

At the University of Arkansas, students interested in studying business enter Walton as freshmen and begin taking business courses right away. Through our unique business core courses, you will be exposed to a variety of university core courses and all eight business disciplines. These courses form a solid foundation on which to build your selected business major and possible minor.

We also offer specialty courses for incoming students to help them successfully adjust to the college environment. Each new Walton student will be enrolled in a Business Connections cohort during the first semester.

Through this program, small groups of students learn valuable college and life skills such as time management, critical and creative thinking, diversity in the workplace and the world, healthy lifestyles and financial and career planning while getting to know each other.

The same group of students also takes common business courses together to further strengthen the connection to their peers. Along with a community of accessible professors, individual advisers, upperclassmen and alumni, Business Connections creates the foundation for a strong beginning both in college and eventually the workplace.

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Business Administration (BSBA) • Accounting*

• Information Systems* + Enterprise Resource Planning + Enterprise Systems + Business Analytics

• Economics* + Business Economics + International Economics and Business

• Management* + Organizational Leadership + Human Resource Management + Small Business and Entrepreneurship

• Finance* + Banking + Financial Management and Investments + Insurance + Real Estate + Energy Finance

• Marketing* • Retail* • Supply Chain Management + Transportation and Logistics + Retail Supply Chain Management

• General Business (online only)

International Business (BSIB) • • • • •

Accounting Economics Finance General Business Information Systems

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Management Marketing Retail Supply Chain Management

*For those majoring in business, business minors are offered in the indicated fields as well as in the areas of Behavioral Economics, Enterprise Resource Planning, Financial Economics, Nonprofit Studies and International Business.

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Walton \ wawl-tn \

[noun]

a top 30 public business school where epic students go to college to learn from world-renowned professors, gain life-changing experiences and acquire jobs upon graduation :synonymous with excellence, professionalism, innovation, collegiality Origin: Fayetteville, Arkansas, circa 1926 See also: accounting, economics, finance, general business, information systems, management, marketing, retail, supply chain management

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Accounting \ uh-koun-ting \ [noun]: the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results

“Accountants gather and interpret information to address business opportunities and solve problems. Therefore, students who are critical thinkers and problem solvers will excel as accountants.�

-Vern Richardson, Professor, S. Robson Walton Chair in Accounting

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Structured on a five-year platform, the Walton accounting major gives students the opportunity to complete both their undergraduate and graduate degrees while preparing for success in any area of the business world. A professional public accountant provides auditing, financial tracking and analysis and reporting services to business and non-business organizations in a variety of industries.

A management accountant works for a particular organization in its finance and operations areas or becomes a part of the management team. Some accountants are employed by nonprofit organizations such as the American Cancer Society, state and local governments, or federal agencies like the FBI. Other accounting graduates are selfemployed in a variety of professions or businesses.

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Economics \ ek-uh-nom-iks \ [noun]: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services 12

Designed for those students who are interested primarily in business, but at the same time have a desire to understand the more advanced analysis tools of the production, distribution and consumption of goods and services, the economics major provides a solid background for a wide variety of careers.

Economics prepares students for work in corporate research and planning, as well as careers with government and regulatory agencies, for graduate study in business and economics, and for law school. It also prepares you for a broad range of careers in business, including management, marketing and finance.

Likewise, the international economics and business concentration covers global aspects of economics and business.

“A major in economics equips students with very strong analytical, quantitative, and critical thinking skills. Corporations, government and nonprofit organizations hire economics majors for a wide variety of positions requiring quantitative/ analytical skills.�

- Bill Curington, Economics Department Chair

economics.uark.edu 13

Finance \ fi-nans \ [noun]: the management of funds; system of circulating money, granting credit, making investments and managing banking facilities

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Students who elect to major in finance can choose from five areas of concentration: banking, financial management/investments, insurance, real estate and energy finance. Careers in finance that are analytically oriented will generally require proficiency in accounting, economics and quantitative methods. In contrast, careers that are sales or management oriented will generally require marketing and management skills.

The addition of hands-on experience in the Global Markets Financial Trading Center, connections to professors with years of experience in real estate and insurance and numerous company connections gives Walton finance majors the competitive edge they need in this dynamic field.

“The Portfolio Management and Fixed Income Securities courses prepare students for exciting careers in the industry by giving them practical experience managing more than $11 million across six different funds. Finance – it’s where the money is!”

- Craig Rennie, Associate Professor, Finance Department

finance.uark.edu 15

General Business \ jen-er-uh l • biz-nis \ [noun]: relating to a profession, trade or occupation

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General business is Walton’s broadest major. This program exposes students to all facets of the business process. At the same time, careful use of general and junior/senior business electives allows the student to concentrate additional coursework in one or more selected functional areas. As of fall 2014, the Bachelor of Science in Business Administration with a major in General Business is offered solely online, making it accessible to traditional and nontraditional, local and distance learners alike.

“By drawing from each business discipline, the general business major creates a well-rounded degree perfect for those interested in business, but not in a particular subject area. It is also an excellent background for students planning to further their education in professional fields such as law, business or even medicine.�

- Katie Pounders, Assistant Director for Online Programs

globalcampus.uark.edu 17

Information Systems \ in-fer-mey-shuh n • sis-tuh m z \ [noun]: a computerized system or process that collects, creates, stores, processes and distributes information to solve business problems 18

A major in information systems prepares you to solve business problems by appropriately applying and using computer technology. Because demand in the information technology field is great, information systems majors are highly sought after by hundreds of companies for many different types of positions, such as analyst, database administrator, programmer and web developer, among others. Graduates are now analyzing, designing and developing systems, consulting, teaching, and solving business problems across the country.

The Walton Information Systems department has a unique combination of large computing systems for use in courses, including an IBM z13, a Teradata database system, Microsoft Enterprise Consortium (SQL Server 2016 with inmemory database capability), and the full SAP R/3 and Business Intelligence software suite, as well as large real databases (Sam’s Club, Dillard’s, Acxiom and more).

“Information Systems solves business problems and creates business opportunities using the tool of technology.”

- Susan Bristow, Clinical Assistant Professor, Information Systems Department

information-systems.uark.edu 19

International Business \ in-ter-nash-uh-nl • biz-nis \ [noun]: relating to professions, occupations or trade between entities located in two or more nations

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All courses in Walton are taught from a global business perspective. However, for those students who wish to learn more about the international aspects of business, Walton offers the Bachelor of Science in International Business degree.

This degree includes coursework in international business, foreign language and culture, as well as a concentration in one of the fields of business, plus an international experience such as study abroad. It provides preparation for a broad range of careers in business, including accounting, economics, finance, information systems, management, marketing, retail and supply chain management both domestically and overseas. This degree is well suited for students wishing to continue their studies in law, international affairs, business and economics.

�While political boundaries still divide countries, economic boundaries are disappearing. As they do, the roles of culture, language, political systems, geography and socio-economic factors all increasingly influence business practices.�

- Gary Ferrier, University Professor, Economics Department

walton.uark.edu/bsib 21

Management \ man-ij-muh nt \ [noun]: controlling and directing the affairs of a business or institution

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Management is the force responsible for directing organizations toward goals or objectives. Therefore, the management curriculum focuses on the nature and capabilities of human and other resources, as well as how the manager plans, organizes, staffs, coordinates and evaluates those resources.

The study of management prepares one for leadership in profit and nonprofit organizations of all sizes. Management majors gain the insight and skills needed for careers as professional managers or as self-employed entrepreneurs.

These skills include: technical knowledge, communicative capacity, human understanding, and conceptual and problem-solving ability. Many management majors choose to prepare for careers in general management, human resource management or as small business entrepreneurs.

“Management is both art and science. It is the art of making people more effective than they would have been without your leadership. The science is in finding effective ways to motivate and manage employees. Organizations value effective managers who are capable of getting the most out of their employees.�

- Alan Ellstrand, Associate Dean of Academic Programs and Research

management.uark.edu 23

Marketing \ mahr-ki-ting \ [noun]: the process of promoting, selling and distributing a product or service

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The marketing major is designed to prepare students for careers involving product planning, distribution, promotion and pricing strategies in profit or nonprofit organizations. In addition to a broad overview of marketing functions within organizations, students are provided with knowledge and skills in consumer behavior, marketing research and strategic marketing.

Students are actively subjected to problem-solving situations, both domestic and international, where a variety of contemporary tools are employed to stimulate the strategic decision-making process. Supportive disciplines with which the marketers should be familiar include psychology, sociology, accounting, economics, statistics, quantitative analysis and research methodology.

“Many of the professors are industry professionals, and the opportunities offered through these programs cannot be found anywhere else!�

- John Waddill, Graduate, Supply Chain Management and Marketing Major

marketing.uark.edu 25

Retail \ ree-teyl \ [noun]: relating to the sale of goods to ultimate consumers

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Whether you consider retailers like Walmart or Dillard’s or distributors such as Tyson Foods, Yarnell’s or Whirlpool, which sell consumer goods through retailers, there is a demand for employees who understand consumers and retail from a business perspective.

The major in retail is designed to prepare students for careers in retailing or in companies that manufacture, sell and distribute consumer goods to retailers. In addition to a broad view of the business and retail environments, students can elect to concentrate their retail studies in accounting, economics, finance, information systems, international retail, management, marketing or supply chain management.

“What thrills me about the retail industry is that innovation and creativity are highly sought after resources. This is what drives not only the retail industry but the advancement for all industries around it.”

- Katie Streepey, Graduate, Marketing and Management Major

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Supply Chain Management \ suh-plahy • cheyn • man-ij-muh nt\ [noun]: the flow of goods and services

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A major in supply chain management is designed to prepare students for careers in carrier management and logistics management. It is about planning and coordinating the movement and storage of products and services so that they get to the right customer, at the right time, in the right quantity, in the right condition, at the right cost.

Carrier management is the management of domestic and international modes of transportation, including trucking, railroads, shipping, aeronautics and more. Logistics management applies analytical techniques and uses the system approach in managing the flow of materials within the production and manufacturing processes of a firm to its customers.

“I enjoyed the logistics aspects of all my classes more than any other field of study. The fact that the Walton College created an entire department devoted to logistics, it is clear that they see a future there so I can too!�

- Lindsay Stewart, Graduate, Supply Chain Management Major

supplychain.uark.edu 29

The Right Resources Walton offers a variety of resources to help students succeed: + + + + + + + + + +

Dedicated Computer Lab Study Spaces Full-time Professional Advising Staff Tutoring Supplemental Instruction Business Communication Lab Freshman Business Connections Career Development Center Office of Diversity & Inclusion Global Engagement Office

Walton Honors Program The Walton Honors Program is offered to high-achieving students who exemplify academic excellence, extraordinary leadership potential and a sense of civic duty to their community. Honors courses within Walton are small in size, centered on application-based learning and are led by the college’s most distinguished faculty members. Students in the Walton Honors Program have the opportunity to further develop their skills outside of the classroom through study abroad, internships, networking opportunities and extracurricular activities offered by Walton, the University Honors College and throughout the University of Arkansas. Upon completion of all honors requirements, students will be eligible to graduate Summa Cum Laude, Magna Cum Laude or Cum Laude.

Listed below are the Honor Societies offered at Walton: + Beta Alpha Psi + Beta Gamma Sigma

+ Omicron Delta Epsilon

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+ Phi Beta Delta + Sigma Iota Epsilon + Sigma Chi Mu Tau

Business Living Learning Community The Business Living Learning Community creates a residential experience that emphasizes and supports student learning for incoming freshmen at Walton. Students participate in monthly activities as a group, live together in a residence hall, and are enrolled in the same Business Connections cohort in their first semester. Students enjoy the benefits of living on campus in a traditional residence hall; building connections with other members through academic, social and local community volunteer projects; and joining their peers in academic review sessions for midterms and finals. Applications to join the Business Living Learning Community can be found in phase 1 of your housing contract.

Leadership Walton The Leadership Walton professional development program is unique to Walton and is intended to deliver a one-of-a-kind, defined progression of experiences including leadership activities, academics and professional and career development training. It is designed to provide students with continuous interaction with professionals on and off campus who can help make the student as marketable as possible when graduation arrives. Applications for Leadership Walton are available online from June through August.

“The most important resource for students in the Walton College is our people. We want our students to succeed and, as a group, faculty and staff are willing to do whatever it takes to help students. The success of our students is our No. 1 goal.�

- Jeff Hood, Director, Undergraduate Programs 31

Hands-On Experience How do you get a job without experience? At Walton, we offer many ways to gain critical skills and knowledge while you are in school.

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$1.1 Million Portfolio Management Class

$5 Million Arvest Fixed Income Securities Class

Students Acquiring Knowledge Through Enterprise

Approximately 20-25 seniors compete to manage the Rebsamen Trust, which was established in 1971 and is valued at approximately $1.1 million. Students research and make buy and sell security recommendations to trustees in a yearlong class while networking with local, regional and national financial institutions through class trips to Little Rock, Bartlesville, Wichita, Houston, Dallas, Fort Worth and New York.

Approximately 25 juniors compete to make investment recommendations for up to $5 million of Arvest Bank capital as part of their fixed income portfolio. Students meet regularly with bank executives to present their findings and learn how to manage bank bond portfolios. Students also advise other classes on fixed income components of their student managed investment portfolios. Bloomberg Professional, Morningstar, S&P Capital IQ and WRDS data access and training are provided.

A student-led, student-run business, SAKE markets a range of University of Arkansas products and provides students with learning opportunities in all aspects of running a business. Learn more at forever-red.com.

Arkansas Donald W. Reynolds Governor’s Cup Winning teams from Walton have received more than $2.5 million in cash prizes from this annual business plan competition. Guided by faculty members, teams who compete in the Governor’s Cup develop entrepreneurial skills and learn how to pitch products and businesses to investors.

Enactus Enactus is an international organization that connects student, academic and business leaders through entrepreneurialbased opportunities that empower people to create better lives for themselves and their communities. As a member of the UA Enactus team you will develop leadership, teamwork and communications skills through learning, practicing and teaching the principles of free enterprise.

Career Path Management

Cooperative Education

The Walton Career Development Center helps prepare you for your job search with resume assistance, interview preparation, skill development and advice.

From day one, the Walton Career Development Center connects you with employers and careerrelated jobs that will allow you to learn, earn money and receive college credit at the same time.

Connections With Business Home to Walmart, Tyson Foods and J.B. Hunt headquarters, the Northwest Arkansas area has attracted more than 325 Fortune 500 companies as well as small start-ups. Walton provides continuous engagement opportunities to meet and work with these businesses.

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Outside the Classroom Walton extends its reach beyond the classroom through its outreach and research centers, connecting academics to industry and the community. We match executives with students in a one-on-one mentoring program, host industry conferences and career fairs, provide scholarships and internships and conduct research through these centers: + + + + + + + +

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Bessie B. Moore Center for Economic Education Brewer Family Entrepreneurship Hub Center for Business and Economic Research Center for Retailing Excellence Executive Education Garrison Financial Institute Information Technology Research Institute McMillon Family Retail Innovation and Technology Lab + Small Business and Technology Development Center + Supply Chain Management Research Center + Tyson Center for Faith and Spirituality in the Workplace

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It’s Your World Study Abroad Businesses compete on a global level. To help students learn about other cultures, business traditions and customs, the Walton Global Engagement Office offers students individualized advising for a wide range of international experiences including academic and service learning study abroad programs, semester and yearlong exchange programs, and international internships.

The Global Engagement Office awards additional scholarships to assist students with these learning opportunities. Walton also works closely with the University of Arkansas’ Office of Study Abroad and International Exchange to assist students with additional international programs, literally bringing a world of opportunity to our students.

Walton Summer Study Abroad (Walton Faculty-led Programs) + Brazil + China + India + Ireland + Italy (University of Arkansas Rome Center) + Japan + Panama

Walton Exchange Programs (Semester/Year Programs) + Australia (University of Technology Sydney) + China (City University: Hong Kong)

+ Denmark (Aarhaus Business School) + France (NEOMA Business School, Reims) + Germany (WHU Otto Beisheim School of Mgt. Vallendar) + Spain (Universidad Carlos III de Madrid) + Sweden (Jonkoping International Business School)

Community Development + Belize + Mozambique + Vietnam (January Only)

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It’s Home Fayetteville is a city with something for everyone! Whether you love hiking outdoors or watching a Broadway play, listening to a local band or touring a world-class art museum, you can find your niche in Northwest Arkansas.

Visit and Explore + Dickson Street, Fayetteville’s Entertainment District + Walton Arts Center + Razorback Athletics + Ozark Mountains + Crystal Bridges Museum of American Art + Northwest Arkansas Naturals Minor Leage Baseball + State Parks

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View of Walker Landing and lower pond from the overlook; photography by Dero Sanford.

Courtesy of Crystal Bridges Museum of American Art, Bentonville, Arkansas.

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Enjoy Northwest Arkansas Outdoors + Canoe, float or fish at nearby Buffalo, White, Elk, Mulberry, Illinois and Kings Rivers. + Rock climb at Devil’s Den State Park + Camp at numerous state parks and along national hiking trails. + Bike in the Ozarks.

Connect to Major Metro Areas + Dallas / Fort Worth - 330 mi. + Houston - 570 mi. + Kansas City - 240 mi. + Little Rock - 190 mi. + Memphis - 320 mi. + Nashville - 530 mi. + Oklahoma City - 210 mi. + St. Louis - 345 mi. + Tulsa - 117 mi.

Take Flight + Northwest Arkansas Regional Airport (XNA) - 25 mi. + Tulsa International Airport (TUL) 107 mi. + Little Rock National Airport (LIT) - 192 mi.

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Outdoor Recreation Photo?

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Our Past Arkansas’ premier business school, the Sam M. Walton College of Business, was founded as the School of Business Administration on the University of Arkansas campus in 1926. In the beginning, just four professors offered 36 courses in business administration, economics and sociology. Then in 1931, the American Association of Collegiate Schools of Business (now AACSB International) awarded accreditation to the college. The first master’s program was added in 1930, while additional master’s and doctoral degrees were established in the 1950s.

In 1978, Walton moved to its present location on McIlroy Street and, in 1998, the Donald W. Reynolds Center for Enterprise Development opened as a conference center. Also in 1998, the college received $50 million from the Walton Family Charitable Support Foundation, the largest upfront cash gift ever made to a U.S. business school at that time. The college then changed its name to the Sam M. Walton College of Business.

Today that investment is paying off in handsome scholarships, top quality faculty and state-of-the-art classrooms.

In 2007, Walton opened Willard J. Walker Hall housing the Graduate School of Business, several research centers, the Career Development Center and the Global Financial Markets Trading Center.

With the completion of the J.B. Hunt Transport Services Inc. Center for Academic Excellence, Linda Sue Shollmier Plaza now connects all four business-related buildings, creating a unique mini-campus where students can network and grow.

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Our Future

With nationally recognized faculty and the latest in facilities, Walton is one of the nation’s top business schools.

Walton is ranked 26th among public undergraduate business schools in the country

by U.S. News & World Report. Walton graduates received the 11th highest return on investment in the nation for business colleges, according to Businessweek. And 88% of job-seeking undergraduates had jobs earning an average starting salary of more than $52,000 upon graduation in 2016!

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A Letter from the Dean Students come to Walton expecting to build bright futures, and we have put the pieces in place to help them do just that.

IBM for their innovative work in the hottest business topics of today – data analytics, entrepreneurship, supply chain management and global business.

U.S. News & World Report ranks the Sam M. Walton College of Business at No. 26 among the top public business schools. Among both public and private business schools, Walton is ranked No. 43, its highest overall ranking since 2011.

Walton hosts international business conferences, such as the Consumer Culture Theory Conference, and workshops for leaders from business and industry. Our location in Northwest Arkansas gives us the opportunity to partner on projects with some of the largest corporations in the world.

Our accounting department holds a separate accreditation from AACSB International – the Association to Advance Collegiate Schools of Business – and the information systems department is one of the few at AACSB accredited business schools in the country to have a STEM designation.

Walton graduates are CEOs of four Fortune 500 companies – C. Douglas McMillon, a 1989 Walton graduate in accounting, is president and CEO of Walmart; John N. Roberts III, a 1988 Walton grad, is president and CEO of J.B. Hunt Transport Services, Inc.; William T. Dillard II, a 1966 Walton grad, is chairman and CEO of Dillard’s, Inc.; Gary Norcross, a 1987 Walton graduate, is the president and CEO of Fidelity National Information Services Inc. Also, nearly 30 Walton graduates occupy executive offices at Fortune 500 companies.

The faculty who will teach and mentor you in your Walton career publish groundbreaking research in the world’s leading business journals. Their teaching is recognized university-wide for its excellence and several are distinguished professors and university professors. They are cited as experts in their fields by the likes of The New York Times and garner awards from companies such as 44

We are also leaders in innovation and entrepreneurship — our students and recent alumni have launched successful startups in biotech, retail and beyond.

Fayetteville-based analytics company DataRank, established in 2011 by recent UA graduates, was accepted into the prestigious Y Combinator accelerator program and acquired in 2015 by the Seattle-based firm Simply Measured. At the graduate level, entrepreneurial teams coached by Carol Reeves, Walton professor of management and the university’s associate vice provost for entrepreneurship, have generated national headlines and nearly $60 million of investment funding. Picasolar, a 2013 solar technology team, raised $1.2 million in equity investments and, in 2016, was awarded a $2 million grant from the U.S. Department of Energy. Picasolar is now deploying the technology with two of the biggest companies in the solar energy industry.

Visit Walton and get to know our people – students, faculty, staff and supporters. We know you will fit right in.

Matthew A. Waller, Dean

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Visit Us The best way to know if the University of Arkansas and the Sam M. Walton College of Business are right for you is to visit us here in Fayetteville. Spend a day meeting students, faculty and staff. Ask all of your important questions. Tour classrooms, labs, dining facilities and residence halls. Take in the gorgeous scenery that surrounds campus and see for yourself the resources and opportunities that Northwest Arkansas and the campus provide.

To schedule a visit, complete the online reservation form at visit.arkansas.edu or contact the University of Arkansas Office of Admissions at 1-800-377-8632.

“As cheesy as it sounds, I had the “feeling” when I toured the UofA. I had heard about this feeling at 20 schools I toured; however, I never had the feeling. After my campus tour, I knew something was different about the UofA. I loved that the University made an eternal commitment to its students through the tradition of Senior Walk.

Everyone I encountered on my tour was so welcoming and real. It felt like home, and that’s exactly what I found here—a home.”

-Wheeler Richardson, Graduate, Marketing Major

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Sam M. Walton College of Business Undergraduate Programs Office connect@walton.uark.edu walton.uark.edu

11-2017