COLLEGE OF BUSINESS IN RE VIE W:
2021 SUMMER HIGHLIGHTS OF AC TIVITIES, PROGR AMS, AND INSPIR ATIONS
CURRENCY
02 DEAN MOORADIAN
A salute to the Class of 2021
04 STUDENT SUPERHEROES
Antigona Mehani is an advocate in her community
06 DISTINGUISHED ALUMNI
Camilla Schroeder has a strong family foundation
08 INSPIRING FACULTY & STAFF
Yong Chao, PhD, and Lori Tang, PhD support the production of knowledge
14 SECOND CHANCES
Menard Family Lecture Series discusses a labor shortage solution
16 FAMILY BUSINESS AWARDS
Highlighting the best in the region
24 RESEARCH ROUNDUP
ONL INE MB A S T UDE N T ANTIGONA MEHANI
Business.louisville.edu
DEAN MOORADIAN
Todd Mooradian, PhD, Dean, UofL College of Business with Brittany Key, Online MBA Student
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DEAN
TODDA.MOORADIAN As another academic year nears, we have had the summer to reflect on the year and a half since our pandemic season began. It’s given us all pause— making us grateful to see a sun shining a little brighter compared to last summer. As a result, we celebrate the glorious change in seasons with a hard-won insight and intentionality. It’s been a year like no other before. In the face of so many challenges and changes, our Cardinal community remained as resourceful and resilient as ever—traits that are no better demonstrated than by the 452 graduates who join our wonderful alumni community. The 348 undergrads celebrated with their families and the University in person, appropriately distanced at Cardinal Stadium. Over 100 graduate students were honored at program ceremonies at the Galt House. It was an honor and pleasure to give this class a proper commencement at the end of a challenging year. The Class of 2021 epitomizes the grit and determination to not only emerge better as
professionals but as people working to change the world around them. The College of Business is proud to be a part of this chapter of our students’ journey. We will remain forever committed to them and their development beyond the diploma. Partnering with our students is our passion, and it is a privilege to be a part of that story. In this spirit of hope and optimism, I want to salute our latest graduates and thank those in our College community whose hard work and dedication help make this school year a success under the most challenging of circumstances. We will continue our journey towards building a business school that helps every one of its students be the changemakers we will need—this fall, and in the years to come. Congratulations again,
Todd A. Mooradian, PhD Dean, University of Louisville College of Business
UofL College of Business: 2021 Summer Highlights
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STUDENT SUPERHEROES
ANTIGONA MEHANI
ADVOCATEFOR COMMUNITYSERVICE by Jim Warner
“Every day I wake up with the mindset of what kind of impact I’m going to make,” says student and community advocate Antigona Mehani. A drive to change the world is infused in both her words and actions—even her decision to come back to UofL as an MBA student. “Whether it’s having a meeting with a friend to offer encouragement to physically being somewhere and seeing how you’re actually making that impact directly. The word community is really what defines me and who I am as a person.” Antigona’s connection to Louisville is a study in community spirit and civic engagement. A tireless advocate for equality and community service, her work in Louisville since graduating UofL in 2011 speaks for itself—board memberships (the Association of Fundraising Professionals Louisville chapter, the Louisville Independent Business Association, the World Affairs Council of Kentucky and Southern Indiana, and
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the St. Joseph Catholic Church Orphan Society), volunteering with the Office of Resilience and Community Services on its Homeless Encampment Task Force, and previous work with the Americana Community Center and Kentucky Refugee Ministries’ Louisville office. The accolades are too numerous
“I AM A PRODUCT OF THIS COMMUNITY.” –Antigona Mehani Cohort President, Online MBA, Class of 2022
to mention but include being an official Kentucky Colonel and most recently being named the 2020 UofL Arts & Sciences Alumni Fellow.
2020 also signaled Antigona’s return to the University as a grad student in the College of Business. “After taking numerous business courses during my undergrad, there was a wish that I had earned a business degree, especially in marketing,” says Antigona. While the timing may not have worked out for a bachelor’s degree from the College, the time was right last year for an MBA. Those years away from school gave her not only the confidence to pursue the degree but the experience to better understand the value of the degree itself. “It was a little bit intimidating [coming back], but in a good way. Those professional experiences prepared me quite well, actually,” says Antigona. “The time that I took allowed me to build myself into a stronger [MBA] candidate, and that’s something I’m really proud of…I don’t feel like I’ve missed a beat.” Virtual Community Made Real Building a community in a virtual capacity, such as the online MBA program, would be a challenge for some, but to Antigona, her ability to hold those spaces is not bound to bricks and mortar. Serving as her cohort’s president, she has worked very hard to create a sense of camaraderie amongst a class scattered across the map. “I knew it’s [building connections] important—especially being online where we’re coming from every part of the US and are unable to see each other [except] in online meetings or emails. I wanted to see how I could help bring us together—that no matter where you’re living now [for this class], you can create that community and fill those gaps.” For Antigona, those responsibilities as cohort president have included staying in contact and conversation with her classmates and helping them find a voice to advocate for themselves with their professors and the College. Out of these conversations, the online MBA has included live streaming conversations with
Antigona Mehani, Director of Corporate and Foundation Relations, Christina Lee Brown Envirome Institute of UofL
business leaders who have given back to the community. “These events are critical to us…since we’re not sitting in a classroom and seeing our professors [in person], we feel like we’re in the driver’s seat for our education at all times,” says Antigona. “It also created those network opportunities we were looking for with the business world.” She credits program director Dr. Zac Goldman for helping provide those opportunities to her cohort. Antigona’s return to school is just a part of her next chapter. In her first year as an MBA student, Antigona also got married, moved into a new house, and started a new job as Director of Corporate and Foundation Relations for the Envirome Institute at UofL. As Antigona settles into the university setting as a student and employee, she couldn’t be prouder to be further enmeshed in the Cardinal community. “I am a product of this community. I’ve left this city [Louisville] numerous times…but if it wasn’t for the community that I know and helped build, I don’t know if I would be here today.” UofL College of Business: 2021 Summer Highlights
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Camilla Schroeder President, Advance Ready Mix Concrete BS ‘90
FAMILYFOUNDATIONS
Photo by Christopher Fryer/Louisville Business First
by Ali Pfeiffer
Camilla Schroeder always knew she was going to be in business. Her family owned and operated a company, there was always talk of business dealings at the dinner table, and in 1990, she received her BS in Business Administration from the College of Business. After a lifetime of career prep, both inside and outside the home, Camilla knew one more thing to be true: she wasn’t going to fail. Camilla Schroeder is President of Advance Ready Mix Concrete, the only local, family-owned ready mix concrete producer in the Louisville/Southern Indiana market. Success for Advance Ready Mix in recent years has been hard fought and won. The company was started in 1979 by Camilla’s father, Bill Abel Sr., and uncle in response to the 6
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frustration of finding a ready mix supplier that operated on a customer’s timeline outside of normal business hours. As the 90s began and business started to grow, Bill Abel Sr. was diagnosed with a brain tumor. “He was a great role model, a huge influence, but I think maybe the most precious thing was that I got to spend…about every day with him….I was able to be with him, and I can never replace that time.” In early 1997, Camilla took over as president upon Bill Sr.’s passing. With the insight she had gained from their years working together, she began carving a path through an industry not frequented by women. Since taking over, she’s doubled the size of the company and stands out against the competition. “I never felt like I could fail,” Camilla says of taking over the reigns. “I think I looked at it as I
DISTINGUISHED ALUMNI
was the only female ready mix producer, so I think people would remember that.” In her time in the concrete and construction industry, she’s seen the percentage of women grow too. When given the opportunity, she likes to share her experience with women coming up in the business. Her hope is that by sharing her experiences and lessons learned, she can provide a
“I FIND SOMETHING I SHOULD BE DOING IS [TRYING] TO HIRE PEOPLE WHO NEED THE OPPORTUNITY.” —Camilla Schroeder President, Advance Ready Mix
step up for others like her. “I think it’s only going to become an easier path as it becomes more of a norm to see females in the industry.” Camilla believes giving back is the responsibility of all, both as an individual and as a company. Personally, she serves on the College of Business
Board of Advisors in addition to multiple community boards, including GLI’s Executive Committee and the Louisville Metro Police Foundation. From a company standpoint, she’s ensured that Advance Ready Mix elevates others who may need a little extra help. “I find something that I should be doing is [trying] to hire people who need the opportunity, so we [hire] and [train] people actually….We’ve sought out people who needed a hand up…we would pay for their driving license and then in turn, they sign a contract to work with us for a few years…It’s phenomenal.” While pushing herself and her employees to help the community where help is needed, she also stresses the importance of preparing oneself to work hard, especially for recent graduates and women in leadership. She advises grads to remember that they’ll have to work hard and find the unique ways to set themselves apart. “Put yourself in a position to be the person they want to see…. You find the right place in these companies and educate yourself on that, whether it’s getting an MBA, whether it’s getting more licenses… that make you more valuable to your company, that’s important...When you can learn from [others] who are doing what you’re doing, there’s always the opportunity to improve yourself.” UofL College of Business: 2021 Summer Highlights
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INSPIRING FACULTY & STAFF
YONG CHAO, PhD, & LORI TANG, PhD
ENGAGINGRESEARCH by Jim Warner
One of the most significant challenges that we have faced in this pandemic year has been staying connected—as both colleagues and peers. Often when we talk about the challenges of this disconnect as it relates to higher education, we (rightfully so) think about our students and how to ensure both their academic well-being and physical/mental health. But what of our instructors? Like all of us, they too have had to learn to adapt to a new way of being productive and had the similar challenge of maintaining their sense of camaraderie and support. Balancing passions in a pandemic has meant discovering new ways to engage with one another. Enter the College of Business Research Colloquium.
Yong Chao, PhD, co-founder of the College of Business Research Colloquium
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The desire to build a synergy between departments and expand the production of knowledge has been at the heart of the College of Business, but building a forum for that discourse is a newer initiative, one championed by Dean Todd Mooradian and Associate Dean for Faculty Affairs, Kristen Lucas, PhD. “It’s a platform for us to present research projects… at any stage from early-stage ideas or [work already] in a written manuscript. Some present work that’s in review with a peer-reviewed journal,” says Assistant Dean of Research and Associate Professor of Finance, Lori Tang, PhD. She is the colloquium co-creator alongside her colleague, Associate Professor of Economics, Yong Chao, PhD. “This way, our faculty can know what we are doing and help explore other opportunities for collaboration with one another.” The Colloquium’s importance only became more imperative in the light of a global pandemic. In a space where staying connected meant meeting virtually, the monthly event quickly became a place where faculty could remain engaged with one another while sharing their work. “The Colloquium has been a good platform for our junior faculty to get their work out there,” says Dr. Chao. For some professors who have joined the College in the last year, the Colloquium has helped to introduce them to their peers. Tang and Chao have also worked to build a balance in the presentation line-up, mixing in senior faculty presenters and junior faculty. Having distinguished scholars such as Manju Ahuja, PhD, helps to serve as a model for conducting and presenting research.
“OUR RESEARCH IS HOW WE SHOW THAT WE ARE CONTINUING TO LEARN THINGS,”
Aaron Barnes, PhD, Dean Todd Mooradian, and Lori Tang, PhD, during a recent College of Business Research Colloquium
—Yong Chao, PhD
While building interest around each other’s work helps keep the professors connected, the conversations which extend beyond the meeting may lead to collaborative opportunities between colleagues. Dr. Chao talks about one of those conversations, stemming from March’s presentation by Dr. Weihua Zhao (assistant professor of economics). “Weihua’s research is talking about taxing Uber, and I had asked her a question about pass-through rate. After the Colloquium, our department chair, Jose [Fernandez, PhD], followed up with an email to us, and [we] have continued our conversation.” The ability to discuss each other’s work beyond the bi-weekly meeting helps to build both better research and additional opportunities to build synergy within the discovery. These insights from others ultimately build better research and expand the knowledge base created at the College of Business—an extension that makes a greater
understanding for all. “I have collaborated with marketing and finance faculty peers on papers,” says Dr. Chao. “To paraphrase Steve Jobs, ‘Creativity is about making connections.’” Chao and Tang are excited about what year two of the Colloquium will bring come September. One of those shifts may include being in person, with an online component still being an option for those unable to attend in person. There has also been discussion that these colloquiums will eventually include students (particularly the College’s graduate students). “I think we can combine these impacts in research with our mission in teaching,” says Dr. Chao. “As teachers, we should be the exemplary learners. Our research is how we show that we are continuing to learn things. We are pushing the boundaries of our knowledge…it is through these questions and discussions [at the Colloquium] we push into the frontier of this knowledge.” UofL College of Business: 2021 Summer Highlights
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YUM! BRANDS & THE COLLEGE OF BUSINESS
GLOBALFRANCHISEEXCELLENCE by Betty Coffman
Yum! Brands, Inc. and the University of Louisville College of Business announced the launch of the Yum! Center for Global Franchise Excellence (CGFE). The Center will feature the first business program of its kind at a public university to provide existing and potential franchisees multiple levels of online education focused on the franchising model across industries. In addition, the Yum! CGFE will focus on recruiting and educating underrepresented people of color and women on the possibilities of franchising as a pathway to entrepreneurship.
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“We believe that combining the resources and expertise of the University of Louisville with Yum! Brands will create an unrivaled resource for world-class training in franchising that will help people everywhere, particularly underrepresented people of color and women, succeed in franchise ownership and management,” said UofL President Neeli Bendapudi. “We’re excited about the new center as it aligns with UofL’s commitment to empower our communities and supports our vision to become the nation’s premier anti-racist metropolitan research university.”
TO IMPROVE EQUITY FOR UNDERREPRESENTED PEOPLE OF COLOR AND WOMEN, CGFE WILL: • actively recruit diverse students to its undergraduate, graduate, and executive-level programs offered through the College of Business • conduct research to develop new knowledge surrounding franchise ownership, including case studies, white papers, and other work to better understand the reasons for lower ownership by underrepresented people of color and women • create regular podcasts and a practitionerfocused journal to share franchising education and news with franchise owners and managers
“Partnering with UofL on the Yum! Center for Global Franchise Excellence allows Yum! Brands to amplify our world-class franchising model and give more people access to the franchising world and the ability to create generational wealth and a legacy,” said Wanda Williams, head of Yum! Global Franchising. “Access to the program will also be a wonderful opportunity for new franchisees entering the Yum! Brands system as well as for employees who want to become business owners.” The Yum! Center for Global Franchise Excellence builds on the College of Business’s existing franchising education tracks, which include a graduate program and an executive-level Franchise Management Certificate as well as an undergraduate franchising track within the Bachelor of Business Administration program. “Franchise ownership among underrepresented people of color and women is lower than their representation in the population,” said Kathleen Gosser, PhD, executive-inresidence at the College of Business. “Our goal is to uncover and reduce barriers to franchise ownership, starting with education.”
In addition to Yum! Brands’ recent grant to UofL, the company also is investing $6 million over five years to advance equity and opportunity across Louisville, particularly in West Louisville, including uplifting Black students, educators, entrepreneurs, and social change agents. As part of this, Yum! Brands is working with Nat Irvin, assistant dean in the College of Business, on the University’s Pathways program to help predominantly Pell Grant-eligible high school students at key public schools in Louisville earn college credits from and early admission to UofL.
“OUR GOAL IS TO UNCOVER AND REDUCE BARRIERS TO FRANCHISE OWNERSHIP, STARTING WITH EDUCATION.”
—Kathleen Gosser, PhD Executive-in-Residence UofL College of Business
LEARN MORE:
business.louisville.edu/yumcgfe
UofL College of Business: 2021 Summer Highlights
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DIVERSITY & INCLUSION PRIDE BANNER RAISING
SIGNALINGCOMMITMENT by Jim Warner
A commitment to building an inclusive environment and educating others about being an ally was front and center at last month’s Pride banner raising. The
Gunterman, College D&I Committee member Thomas Teague, Provost Lori Stewart Gonzalez, and students representing UofL’s Sexuality and Gender Alliance (SAGA).
event celebrated the College of Business raising a new Pride banner in front of Harry Frazier Hall.
A PERSONAL AND PROFESSIONAL COMMITMENT
RAISING A NEW BANNER
The banner raising is an outward symbol of the continuing cultural conversation happening both at the College and University. For committee member Thomas Teague, it had personal significance. “As a gay man, this event and this banner affirm that I am welcome here and bring value to this community where that is not always the case in many spaces in society. [It also] represents a commitment from our College, and reinforces my personal commitment, to strive toward becoming a meaningful ally to members of our family who may be marginalized, or feel invisible.”
This new banner replaces a Pride banner torn down by a white supremacist organization earlier this year. April’s event had an in-person and virtual audience of over 400 attendees. The Pride Banner Celebration served as an opportunity to foster community and further engage in cross-campus collaboration. This event was co-sponsored by the LGBT Center. “We gathered for this event to let all students, faculty, staff, and alumni know that no matter what they look like, who they are, or who they love, the College of Business at the University of Louisville is here to prepare them for success in business and beyond,” remarked Dean Todd Mooradian. Among the speakers for the event were Dean Mooradian, LGBT Center Director Lisa
The College of Business hopes that these events, as well as additional programming, will inspire the community to aspire towards allyship — a lifelong practice where people with privilege and power act in solidarity with a marginalized group. Defining what it means to be an ally is part of a larger conversation engaged by both the College and its D&I committee. The pride banner is part of a rotating scheduled banner series to serve as a visual reminder that the College of Business is a welcoming community—one where allies are accessible to anyone who may need one. For more information on the College’s Diversity and Inclusion efforts, please visit: https:// business.louisville.edu/about/ diversity/
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Lori Stewart Gonzalez University of Louisville Provost
Moth Sanchez University of Louisville Student
Lisa Gunterman, Director UofL LGBT Center
UofL College of Business: Summer 2021 Highlights
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EQUINE INDUSTRY PROGRAM
Photo by Coady Photography
NEW! ONLINE CERTIFICATE
HORSERACINGINDUSTRYBUSINESS by Ashley Jefferson
On Kentucky Oaks Day 2021, the College of Business launched its new, fully online certificate in Horse Racing Industry Business—designed for current and aspiring industry professionals who are focused on building a successful career within the horse racing industry. When designing an equine-focused certificate to add to the College of Business’ growing portfolio of specialized MBA certificates, Program Director Sean Beirne strived to ensure the six program courses addressed expertise key to building a successful career within the horse racing industry.
Graduates will gain an in-depth knowledge of the issues that challenge the industry and insight into solving them with groundbreaking business strategies. The full curriculum delivers broadbased knowledge in the areas of crisis management planning and strategic communications, business ethics, marketing, sports and wagering analytics, leadership strategy, regulatory law, and industry nuances.
“… THIS CERTIFICATE WILL HELP ACCELERATE THE CAREERS OF HORSE RACING PROFESSIONALS.”
“As a former racetrack executive, I truly believe this certificate will help accelerate the careers of horse racing professionals,” adds Beirne.
Certificate courses will be offered for the first time in Fall 2021, with three of “To truly refine and specialize this the six courses available. The remaining certificate, we gathered industry three courses can be completed in Spring input through a series of local, —Sean Beirne, Director, 2022, when all six courses will be offered, UofL Equine Industry Program national, and international focus groups, allowing students to complete the entire comprised of leaders from a wide variety certificate in just 15 weeks*, taking two courses every of stakeholders,” said Beirne. “We were able to create five-week session. a program that addresses the areas key to successful horse race operations. For example, leadership skills were emphasized in every focus group discussion. The certificate also touches on topical and pressing issues happening in our industry including crisis management, the Horse Racing Integrity and Safety Act, and an indepth look at stakeholders including breeding farms, horse sales, racetracks, and the rapidly expanding segment of aftercare.” 14
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Classes are taught by a combination of horse racing leaders, UofL faculty, and guest speakers. The program’s 100% online format provides students the flexibility to achieve a high-quality education while balancing work and life priorities. Furthermore, the program’s six courses can be rolled into a UofL MBA, available online and on-campus. *Incoming Fall 2021 students will be able to complete the certificate in 30 weeks/2 semesters.
DEAN’S ANNUAL REPORT SUMMER 2021
UofL College of Business: Summer 2021 Highlights
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DEAN’S REPORT SUMMER 2021
DEAN’SANNUALREPORT2021 The College of Business has seen incredible results during what was truly a historic year. The following report displays the many successes we’ve seen with student success rates, diversity and inclusion in hiring practices, and fundraising initiatives. In addition to the results shown here, we’ve launched new programs by adding a spring cohort to our Master of Science in Business Administration, an online MBA, and the
Bachelors of Business Administration while refreshing current degrees. Over the next year, we will be revamping our stewardship efforts with a new donor engagement program with increased communication and new events so you can see the effect your contribution has on the College of Business’ educational goals.
PRODUCT PORTFOLIO EVOLUTION Over the past four years, our faculty and staff have been deeply engaged in refreshing our curriculum to deliver high impact content. The chart below outlines the programattic revisions and additions we have made since March of 2017.
2017
2018
2019
2020
2021
Full-Time MBA Professional MBA-Weeknight Professional MBA-Weekend
Suspended-Spring 2018
Global MBA
Revised & improved 2019-2020
iMBA-Innovation MBA
Relaunched 2021 Revised & improved 2019-2020 Being revised & improved 2020 Suspended Spring 2020
Executive MBA-with UK
MBA MAC-Masters of Accountancy
SPECIALIZED MASTERS Accounting Certificate
Relaunched 2020
Online MBA Relaunched 2021
Suspended-Spring 2018
Revised & improved 2019-2020 MSBA-Master of Science in Business Analytics
Fully Online Delivery IFA® Franchising Certificate Distilled Spirits Certificate Managerial Analytics Certificate Equine Business Certificate Family Business Certificate Healthcare Management Certificate
CERTIFICATES Global MBA
DOCTORAL PROGRAM
Other Certificates Revised & improved 2019-2020
BS-BA
UNDERGRADUATE 16
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BBA
Relaunched 2020
$7,000,000
We have made significant efforts to improve our external relations and fundraising program.
$6,630,444.91 $5,513,720.41
$6,000,000 $5,000,000
These charts show the increased philanthropic commitments of our alumni and partners, the size of our endowments and their impact on our overall budget.
$4,000,000 $3,000,000 $2,000,000 $1,000,000
$856,973.96
$1,088,426.48
$998,253.60
2017
2018
DEAN’S REPORT SUMMER 2021
COB FUNDRAISING RESULTS TOTAL PHILANTHROPY FY17-FY22
2019
2020
2021
COB ENDOWED FUND SUMMARY FY17-FY22 $60,000,000
$52,485,600
$51,230,222 $48,205,530
$50,000,000 $40,000,000
$44,832,281 $38,739,936
$39,162,858
$39,211,210
$39,434,028
$30,000,000 $20,000,000 $10,000,000
2018
2017 Historical Value
Current Market Value
2019
2020
108 endowed funds currently support the UofL College of Business
COB ENDOWED FUNDS ULF SPEND POLICY Y FY17-FY22 $60,000,000 $50,000,000
$51,230,222
$48,295,539
$52,485,600
$48,295,539
$40,000,000 $30,000,000 $20,000,000 $10,000,000
$3,832,021
2017
(7.48%)
$2,661,084
2018
(5.51%)
$2,656,255
2019
$2,099,424
2020
(5.50%)
(4.0%)
For additional information on our endowments or how you can create an endowed fund, contact Joe Neary at joseph.neary@louisville.edu UofL College of Business: Summer 2021 Highlights
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3,000
2,700 (Projected)
2,500 1,912
2,000
1,500
By investing in updated curricula, diverse and experienced staff and faculty, and strategic partnerships, we have increased enrollment rates across the board.
1,000
500
0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
10% 24%
GRADUATE ENROLLMENTS 800
24%
678 (Projected)
700
6%
600 494 (Projected)
500
8%
Grad Enrollments (Aug. + Jan.) Grad Enrollments (Aug.)
400 300
28%
238
200
FACULTY HIRING The College has been able to hire faculty who are diverse, accomplished, and committed scholars – great researchers and great teachers. In 2020 we added eight new faculty members. Two are African American and one is Latinx. Three are women. All are excellent and “raise the bar” for our faculty and our college. We are committed to investing in their continued success.
Brittany Green, PhD
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Farooq Durrani, PhD
Aaron Barnes, PhD
Assistant Professor of Practice, Finance
Saurav Chakraborty, PhD Assistant Professor, CIS
22 /2 3 20
21 /2 2 20
20 /2 1 20
9
Paul Rowe, PhD
Assistant Professor of Practice, Management
19 /2 0
/1
Assistant Professor, Entrepreneurship
20
8
18
/1 7
6
17 /1
20
20
16
15 /1
20
5 14 /1
Daniel Bennett, PhD
Assistant Professor, CIS
Assistant Professor, Marketing
18
20
13
/1 4
100 20
Global MBA
3
MSBA
/1
PMBA
MAC
12
OMBA
IMBA
20
Full-time
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DEAN’S REPORT SUMMER 2021
ENROLLMENT &SUCCESS
UNDERGRADUATE ENROLLMENTS
Isabel C. Botero, PhD
Director, Family Business Center and Associate Professor, Entrepreneurship
Sarah Memmi, PhD
Assistant Professor, Equine Industry Program
NEW COLLEGE OF BUSINESS STAFF
SUMMER 2021
NEWFACES
Great people make for great institutions. Our success is reflected in the faces of those who pass through the College of Business and impact the world around us.
Holly Neeld Development
Holly is the Assistant Director of Development for the College of Business. Holly has five years of development and fundraising experience, including executive administration, donor database management, individual and corporate giving, and capital campaign planning. In addition, she completed her undergrad at IU Bloomington in arts management and art history, and earned her MBA in September 2020 from the College of Business with a Certificate in Distilled Spirits. Greg Priester Ulmer Career Management Center
Greg is the Employer Relations/Event Manager for the Ulmer Career Management Center. Originally from Kalamazoo, Michigan, Greg joined the Ulmer Career Center in the Spring of 2021. He brings over six years of student affairs experience, most recently as an Employer Relations Specialist from the College of Business at Western Michigan University. In his spare time, you’ll find Greg out and about on a new hiking trail, trying a new recipe, or tasting the local cuisine.
Sarah Snyder Family Business Center
Sarah is a Program Coordinator at the University of Louisville’s Family Business Center. Sarah graduated as a student-athlete from Georgetown College with a double major in Marketing and Healthcare Administration. She is currently pursuing her MBA at the College.
UofL College of Business: Summer 2021 Highlights
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CENTER FOR FREE ENTERPRISE
MENARD FAMILY LECTURE SERIES
SECONDCHANCES by Donna Zinser Clark
In today’s tight labor market, employers must get creative to fill vacant positions to keep their businesses operating. A recent panel discussion presented by the Center for Free Enterprise addressed one way to combat a labor shortage, while helping companies fulfill their diversity and equitability missions. The Business and Ethical Case for Second Chance Hiring focused on an untapped and underutilized source of employees: people with criminal records. The panel was made up of second chance thought leaders, human resources professionals, and a
former inmate who is now a successful software engineer. The event on April 1 kicked off Second Chance Month. Jeff Korzenik, Chief Investment Strategist for Fifth Third Bank and author of a recently published book on the subject, gave insight into the labor shortage caused by the aging of the American population, birth rates dropping since the 1990s, and a large number of workers leaving the workforce during the pandemic. “The business community has to expect that they will have to dig deeper into the population to get the workers we need,” he said. “One of the best opportunities is to look to those people who have been sidelined from the labor force, or who have been underemployed... because they have a criminal record.” Korzenik acknowledges that implementing a successful second chance hiring program takes commitment and work on the part of the employer, but there are organizations that help. Alex Love, Partner with Levelset, works with companies on the HR side of fair chance hiring, to evaluate and overhaul application processes and hiring practices. Love worked closely with panelist Robin Berry from the Rue Gilt Groupe (RGG) in Shepherdsville, Kentucky, to set up
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their program in 2019. RGG revamped their hiring policies, including “banning the box,” and began to hire candidates based on “their fit for the job, and not their past criminal history.” Since its inception two years ago, RGG’s transitional work program has been a successful way to staff their warehouse while giving valuable work experience and training to people reentering the workforce. There are also organizations that work with the incarcerated before their release, to prepare them
“WE UNDERSTAND THAT SUCCESSFUL REENTRY IS ABOUT MORE THAN FINDING A JOB.” –Sydney Heller, Chief Program Officer at The Last Mile
for reentry. Founded in 2010 at San Quentin prison, The Last Mile provides education and technology training to inmates. Its alumni include successful employees at tech companies like Slack, Square, Fandom, Checkr, and many more. “We understand that successful reentry is about more than finding a job,” said Sydney Heller, Chief Program Officer at The Last Mile, who talked about TLM’s Impact Index for measuring success. “We also look at things like housing, community support, education...and how fulfilled and satisfied they are with the life they are living.” One of TLM’s successes is Sumit Lal, who also participated in the discussion. Sumit spent five years in San Quentin, got his college degree inside, and went through the one-year TLM training program. He now works as a software engineer with technology giant Slack. Sumit called for employers to give returning citizens that second chance, and to consider if the information on the applicant’s background check truly matches the person applying for a position. “We are not our worst mistakes,” he noted. He also asked for grace from society in general, to be accepting of people who come from different backgrounds, who may be in transitional homes, or on parole. His goal
is to change the narrative around those with criminal records. “One bad decision made in the past can be used against you for the rest of your life,” he said. When asked what students or employees in non-hiring positions can do to help, the panelists urged the audience to simply start the conversation with their employers. “Considering that a large part of the problem is information that is prejudiced and is biased, and is just wrong, I think that everyone has an opportunity to make a difference by educating themselves,” and then having those conversations at work, said Sydney Heller. For more information, and to view the entire discussion, visit the CFE Media Room https:// business.louisville.edu/about/learningat-cob/center-free-enterprise/media/.
PANELISTS: Robin Berry, VP of People, Rue Gilt Groupe Sydney Heller, Chief Program Officer, The Last Mile Jeff Korzenik, Chief Investment Strategist, Fifth Third Bank; Author, Untapped Talent Sumit Lal, Software Engineer, Slack; Graduate, The Last Mile Alex Love, CEO, Alex Love Consulting; Partner, Levelset STATISTICS OF NOTE: • Nineteen million Americans have a past or current felony conviction •P eople with past convictions are unemployed at five times the national average • People reentering society with a job are far less likely to re-offend • E ighty-two percent of hiring managers report that people with past convictions are equal or stronger hires than their peers. Second chance employees tend to stay longer and advance faster than their colleagues UofL College of Business: 2021 Summer Highlights 21
FAMILY BUSINESS CENTER
2021
FAMILY BUSINESS AWARDS by Dr. Isabel C. Botero
Family businesses are important to the economy of our region. Thus, the Family Business Awards are a great way to recognize the contributions of these companies within the Kentuckiana region. For the UofL Family Business Center (FBC), these awards give us the opportunity to partner with Louisville Business First to showcase what we do in our community and to gain awareness in our region. (Photos by Christopher Fryer/Louisville Business First)
RAY STROTHMAN—Strothman & Company RAY STROTHMAN—Strothman & Company
STEVE DIEBOLD—WireCrafters 22
UofL College of Business: CURRENCY
BILL ZOELLER—Zoeller Pump Company
CINDY COLLIER—Mister “P” Express LEGACY LEADER NOMINEES Allan Parnell, Mister “P” Express = Deborah Charlton, PMR Companies, LLC WINNER: Steve Diebold, WireCrafters = BROWN-FORMAN FAMILY BUSINESS LEADERSHIP AWARD (FBLA) NOMINEES Kelly Abney, Mira =* George Bell, Office Resources, Inc. WIN N ER: Cynthia Collier, Mister “P” Express = SMALL BUSINESS OF THE YEAR NOMINEES BUSINESS ADVISOR OF THE YEAR NOMINEES
Madden Elevator Company =
Kristi Hagan-Mullins, Ahead Human Resources
Miller Co., Inc.
Sco tt Olinger, Harding, Shymanski & Company P.S.C.=
MPC Promotions, LLC
WIN N ER: Raymond Strothman, Strothman & Company =I
WINNER: A.N. Roth Co.
RISING STAR/NEXT GEN NOMINEES Terry Hyland, Hyland Insurance/AHA Insurance Network Christina Searcy, Mira = Di Tran,* L ouisville Institute of Technology Louisville Beauty Academy USA Nails Lee Weyland, Core Real Estate Partners & Weyland Ventures = WIN N ER: Chelsea Ellis, Jim Reynolds Asphalt Contractor, Inc.
LARGE BUSINESS OF THE YEAR NOMINEES Advance Ready Mix – Camilla Schroeder =*I Huber’s Orchard & Winery = Jones Plastic & Engineering Co., LLC = Louisville Paving & Construction Company PMR Companies WireCrafters, LLC = WINNER: Zoeller Pump Company =
= FBC Member
* UofL Alum I CoB Advisory Board Member UofL College of Business: Summer 2021 Highlights
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INSPIRING RESEARCH
RESEARCHROUNDUP As an R1 institution, creating new knowledge is
at the core of what we do. The College of Business celebrates our faculty’s research contributions to their respective fields in this quarterly summary of publications and reports. For more information visit: business.louisville.edu/research-and-publications. Isabel Botero & Litchfield-Moore, S. R. (2021). Customer perceptions about family firms and their effects on customer behaviors. Journal of Small Business Strategy, 31(2), 19-35. Yong Chao & Babu Nahata. (2021). With linear pricing, can profit-maximizing monopoly output be socially efficient? Bulletin of Economic Research. Advance online publication. Jose Fernandez, Yetter, E., & Holder, K. (2021). What do economic education scholars study? Insights from machine learning. The Journal of Economic Education, 52 (2), 156-172. Bae, T., & James Fiet. (2021). Imprinting perspective on the sustainability of commitments to competing institutional logics of social enterprises. Sustainability. 13(4), 2014.
Benjamin Foster, Andrew Manikas, Dianna Preece, & J. R. Kroes. (2021). Noteworthy diversity efforts and financial performance: Evidence from DiversityInc’s top 50 for diversity. Advances in Accounting. Advance online publication. Xudong Fu, Hamilton, J., Lian, Q., Tian (Lori) Tang, & Wang, Q., (2021). New institutional investors in the IPO secondary market: Sentiment or fundamentals? The Journal of Financial Research. Advance online publication. Stephen Gohmann & Smith, A. (2021). Chapter “‘Blue Laws’ and Other Cases of Bootleggers/Baptist Influence in Beer Regulation” Regulation and Economic Opportunity: Blueprints for Reform. Edited by Hoffer, A., and Nesbit, T. Namvar, M., Interzari, A., & Ghiyoung Im. (2021). Sensegiving in organizations via the use of business analytics. Information Technology & People. Payne, J. & Russell Williamson (2021). An examination of the influence of mutual CFO/audit firm tenure on audit quality. Journal of Accounting and Public Policy. Advance online publication.
ADDENDUMS/CORRECTIONS The Spring 2021 CURRENCY incorrectly identified Jasmine Neal’s doctoral degree abbreviation. Please note her title is Jasmine Neal, DPM, MBA.
KUDOS Kudos to Ulmer Career Management Center Career Coach Thomas Teague who earned his PhD in Higher Education Studies from the University of Kentucky. His dissertation title is “Orienting new international college students during a global pandemic: Spatiality’s contributions to staff work practices.”
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UofL College of Business: CURRENCY
The following awards were given at the Spring College of Business Faculty & Staff Meeting: Manju Ahuja – Research Excellence Award Steve Kendra – Undergraduate Teaching Excellence Award Audrey Kline – Graduate Teaching Excellence Award Kathy Gosser – Faculty Service Excellence Award Andrew Manikas – Outstanding Faculty Member Award Ralph Rolen – Gustafson Adjunct Teaching Excellence Award
CELEBRATING FACULTY
CELEBRATINGFACULTYSERVICE As another school year draws to a close, another set of graduates cross the threshold from students to
25 YEARS Lisa Blum Barry Haworth William Stout Andrew Wright
graduates. Their yet-to-be-written success stories will contain lessons learned from the College of Business professors.
30 YEARS Nan-Ting Chou David Faulds Jian Guan Mahesh Gupta Sheila Johnston Jozef Zurada
Semester by semester and year after year, our professors serve as stewards of knowledge, authors of research, and perhaps most importantly, mentors to tomorrow’s business leaders. The following faculty members have shaped the careers of many. Their efforts and insights are reflected in those students who have taken their lessons to heart — inspiring entrepreneurial spirits to change the world.
45 YEARS John Vahaly 55 YEARS Robert Myers
ACCOUNTANCYEMERITUS Recognition as an emeritus faculty member is an
honor reserved for those professors whose lifetime of service to the College is held in the highest esteem by their colleagues and the University. These professors’ individual contributions to the field of Accountancy have added to the creation of knowledge, furthering
ALAN ATTAWAY, PhD
UofL’s mission of being a premier metropolitan research institution. On behalf of the faculty and staff they call peers and the students they inspired during their tenure at the College of Business, we are proud to bestow the Emeritus status to the following professors.
ALAN LEVITAN, PhD
JULIA KARCHER, PhD UofL College of Business: Summer 2021 Highlights
25
INMEMORIAM As we celebrate our accomplishments and successes, it is impor tant to reflect on those who have passed. The College carries their memor y for ward —their impact and emotional resonance never too far from our collective hear ts. Mr. Stanley C. Abromaitis Mr. Anthony C. Alejandro Mr. James E. Alexander Ms. Lydia White Barah Mrs. Gladys L. Bass Ms. Sandra J. Berry Mrs. Susan C. Boone Ms. Therese A. Burdey Mr. Robert M. Calvert Mr. Oliver R. Clark Mr. Clarence E. Cooper, Jr. Mr. William H. Cottrell Mrs. Myrna M. Craver Mr. Fred S. Crowder David S. Davis, J.D. Mrs. Elizabeth A. Embery Mr. Darrell G. Embry Mrs. Nancy D. Fitch Mr. Chase C. Gavin Mr. Gary W. Gentner Mr. Robert J. Gildea Mr. Bernard A. Griffis Mr. Robert B. Guenther Mr. Alford V. Gustafson, Jr. Mr. Michael R. Hardesty Mr. William L. Heck, Jr. Mr. Kevin L. Heuser Ms. Kathryn D. Heustis Mr. Robert D. Howell, Jr. Mrs. Charlotte A. Kistner Mrs. Mary A. Kolling Mr. Dennis R. Kute Mrs. Ann C. McCarty James E. Milliman, J.D. John C. Moore, C.P.A. Mr. Chad O’Bryan Mr. Frederick M. Oakes Mr. Thomas J. Ott Mr. P. L. Reinhart Mr. Phil L. Rollins Mr. David L. Seay Mr. Samuel L. Stephens Mr. James E. Tafel Mr. William M. Wadsworth, Jr. Mr. John L. Warmack, Jr. 26
UofL College of Business: CURRENCY
1990 1984 1962 1951
1981 2004 1969 1960 1952 1954 1954 1982 1968 1981 1984 1951 2020 1989 1954 1971 1953 1951 1971 1962 1977 1994 1979 1988 1964 1970 1972 1998 1974 1951 1970 1956 1978 1955 1975 1971 1991
Sandra (Sandy) Cates Berry Sandra attended Atherton High School and Western KY University. In 2009, she retired as meeting and event planner for the UofL College of Business. She had previously been involved in many and varied endeavors including small business development and tourism with the Southeast Indiana Chamber of Commerce, as well as being past owner of Southern Belle Bridal in Louisville, KY and the Heritage House Bed and Breakfast in Madison, IN. For all her accomplishments, Sandra treasured most her work for her Lord and the relationships formed throughout her life. She considered her life generously blessed by the many she was able to call “friend.” Sandra is preceded in death by her husband, Robert Berry and her parents, Arvin & Marcella Cates. She is survived by her sister, Linda Goldsmith; her daughter, Jennifer Vick Bucher; and five grandchildren, Logan, Hunter, Peyton, Piper and Brighton of Anthem, Arizona.
“SANDY WAS A WONDERFUL PERSON AND AN EXCELLENT EVENT COORDINATOR…SHE WAS A FUN AND INTERESTING PERSON TO BE AROUND. ” –Katherine Haynes School of Accountancy and Finance
“[AL] WAS A GENTLEMAN, A BUSINESSMAN, AND MOST IMPORTANTLY FOR ME, AN EDUCATOR OF THE HIGHEST CALIBER….” –Jay Brandi, PhD, CVA Department Chair and Professor, Finance
Alford V. Gustafson, Jr. Alford V. Gustafson, Jr., 94, passed away on February 11, 2021. Born in Birmingham, Alabama to the late Alford Sr. and Ruth Gustafson, Alford’s family eventually moved to Kentucky. He graduated from Male High School and was a member of the 1945 Kentucky State Basketball Champions. He attended Centre College and graduated from the University of Louisville College of Business. From 1951 until 1985 he was the owner of Alford Gustafson Insurance Agency. From 1959 until 2018 he served as an adjunct professor in the College of Business at UofL teaching Risk Management and Insurance. In 2010, while teaching at UofL, Alford was the only Adjunct Faculty member to be inducted into the John R. Craf Society honoring business educators. He was inducted into the Male High School Alumni Hall of Fame in 2003 and the Kentucky Softball Hall of Fame in 1985. Along with his outstanding service to the Louisville community, Alford held many positions. He was a member and former board member of the Louisville Boat Club, Past President of the Louisville Board of Independent Insurance Agents, Senior Warden at Calvary Episcopal Church, and a former board member of the UofL School of Business Alumni.
To honor Al Gustafson, Jr., the Alford V. Gustafson, Jr. Award has been established for Adjunct Teaching Excellence. The inaugural award was presented to Ralph Rolen.
In Memoriam is presented with information provided in coordination with the UofL alumni office. If we have missed a loved one or made an error, please accept our apologies. Send notices and corrections to: bizbrand@louisville.edu.
Establishing a memorial or legacy gift with UofL is a way to honor the memory of a loved one while supporting the University’s ongoing mission. To learn about legacy opportunities, visit: https://uoflplannedgifts.org.
Along with his parents, Alford was preceded in death by his loving wife of 68 years, Joan Lee Gustafson. He is survived by his four daughters, Ginny Johnston, Susan Osborn (Dale), Barbara Belknap (Morris), and Laura Buckingham (Keith); six grandchildren and two great-grandchildren.
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CURRENCY Summer 2021 | Vol. 3 | No. 2 This magazine is a compilation of articles, notes, and interviews from the past quarter in the College of Business. To subscribe to the newsletter please e-mail bizbrand@louisville.edu. Contributors: Donna Clark, Betty Coffman, Jocelyn Deamer, Sonja Faul, Ashley Jefferson, Sharon Handy, Elijah Humble, Joe Neary, Ali Pfeiffer, Lori Tang, Jim Warner, Jill Wegenast Currency is published by the University of Louisville College of Business Communications and Marketing Department. The University of Louisville is an equal opportunity institution. Business.louisville.edu
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