DEAN’S REPORT 2018-19
ABOUT US Welcome to the University of Wyoming College of Business, the business college of choice for people who value enriching experiences and the integrity of the handshake. Founded in 1899 as the University of Wyoming School of Commerce and Industry, the College of Business is home to over 1,300 undergraduate and graduate students.
CONTENTS Letter from the Dean
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Vision and Mission
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Values 6 MBA Program
While business programs have changed over the years, the college remains firmly committed to the success of our students, the impact of our scholarship, and the economic vitality of Wyoming and beyond. The new College of Business Peter M. and Paula Green Johnson Student Success Center will be an integral part of our students’ experience. The center, an innovative model for delivering student-centered support and services, will include enrollment management, student recruiting, scholarships, academic advising, study abroad advising, professional development and engagement, internships, and career services. The College of Business is an AACSB internationally accredited institution — an industry standard of excellence that is achieved by fewer than 5% of business schools worldwide. College of Business Majors • Accounting • Business Administration (online) • Business Economics • Economics • Finance • Management • Marketing
* Beginning Fall 2019
College of Business Minors • Accounting • Banking and Financial Services • Decision Science • Data Analytics* • Economics • Entrepreneurship (only non-business majors)* • Finance • Management of Human Resources* • International Business • Marketing • Professional and Technical Selling*
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Peter M. and Paula Green Johnson Student Success Center
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College at a Glance
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Goal 1
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Goal 2
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Goal 3
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Goal 4
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Goal 5
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Faculty 21 Alumni Facts
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Business Advisory Board
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College of Business Graduate Programs • Master of Business Administration • Master of Bus Admin-Energy Mgt • Master of Bus Admin–Dual Degree Options • Master of Bus Admin-Finance • Master of Bus Admin-Executive (online) • Master of Bus Admin-Executive Energy Concentration (online) • Masters in Accounting • Masters in Economics • Masters in Finance • PhD in Economics • PhD in Marketing COLLEGE OF BUSINESS DEAN’S REPORT | 3
LETTER FROM THE DEAN In this year’s 2018-19 Dean’s Report, I am delighted to share with you the College of Business’s new strategic plan. Since my arrival to the University of Wyoming, I’ve spoken of the importance of creating a shared vision and mission for the College of Business. During fall 2018, we launched a strategic planning process that touched all key stakeholders in the college. Dynamic dialogues and transparent processes engaged faculty, staff, students, alumni, and other college stakeholders in deep and critical discussions of how we envision the future of our college.
new possibilities for many years to come. I look forward to speaking with you in greater detail in how you can contribute to this shared future vision. As we dedicate ourselves to education, discovery, and service working in partnership with students, faculty, staff and alumni, we invite you to learn more about the work that makes the College of Business an extraordinary institution. Working together, I know that we can drive Wyoming’s business school to greater distinction! Best regards,
As a result, the new strategic plan provides us with a clear path to create a college distinctive among its peers. Recognizing that our new mission should present us with new opportunities, we aimed to develop a plan that represents a shared and aspirational vision of our future. The result is a guiding vision, mission, values, and goals that will carry the college forward into the exciting
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David Sprott, PhD Dean and Professor College of Business University of Wyoming
VISION To be the business college of choice for people who value enriching experiences and the integrity of the handshake.
MISSION We commit to the success of our students, the impact of our scholarship, and the economic vitality of Wyoming and beyond.
COB VALUE #1: CHARACTER OF THE INDIVIDUAL We embrace the spirit of hard work, respect and diversity of ideas and all people, ethical behavior, and an entrepreneurial mindset.
COB VALUE #2: SERVICE TO OUR COMMUNITIES We commit to serving the educational, scholarly, and industry partners who support us.
COB VALUE #3: STEWARDSHIP OF RESOURCES We hold ourselves accountable for the human, fiscal, and environmental resources entrusted to us.
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PROGRAM HIGHLIGHT MBA PROGRAM
The MBA program at the University of Wyoming gives you the tools you need to succeed in today’s competitive environment. No matter your background, the MBA program is designed for anyone pursuing unique experiential opportunities that will translate to acquiring market demanded skills in becoming immediate, value-add contributors. In offering the same exemplary education as our on-campus MBA program, the parttime, Online MBA program is specifically designed for experienced business professionals interested in a fully AACSB internationally accredited, 100% online program that fits their busy schedules. This two-year program is intended for professionals that are interested in enhancing their understanding of business disciplines and applying them to decisionmaking in the workplace. Students participating in the fulltime MBA program enjoy experiential opportunities that include:
International Experience In collaboration with Germany’s Pforzheim University, students spend a week touring European companies. Ahead of their visit, students research each company and perform an analysis of their business model, key success factors and an assessment of opportunities and threats in their macro- and competitive environments. Jackson Leadership Summit Students network and engage in active discussions focused on strategy in the global economy with corporate leaders in Jackson, Wyoming. Executives interact with students one-on-one, in breakout sessions and through panel discussions. Outdoor Leadership Experience With the goal of improving leadership competency and managing teams, students spend a week in the Wind River Mountains participating in workplace simulations that test their leadership and decision making skills in unfamiliar
environments. Students often point to this experience as being one of the most important in their development as a business professional. Executive Speaker Series Featuring industry and government leaders from around the nation, students have the opportunity to participate in roundtable discussions and acquire realworld insights. The program includes visits to regional companies for tours and onsite management discussions. Summer Consulting Projects U.S. and European based companies sponsor MBA student teams to tackle high-level, strategic projects. Students are fully engaged in cross-functional environments and charged with creating actionable solutions. Teams wrap up project engagement presenting their recommendations to the sponsor’s executive committee and/or board of directors.
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PROGRAM HIGHLIGHT PETER M. AND PAULA GREEN JOHNSON STUDENT SUCCESS CENTER
From the time students are considering attending UW College of Business and until they launch into their careers, the new Peter M. and Paula Green Johnson Student Success Center, an innovative model for delivering holistic studentcentered support and services, will be at the core. The center will be an integral part of our students’ experience instilling competencies like career confidence, enhanced communication skills, collaboration, global engagement, and much more. Fundamental student services include: enrollment management, student recruiting, scholarships, academic advising, study abroad advising, professional development and engagement, internship programs, and successful job placement.
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Enrollment Management Ensuring that the students attending our college have the best opportunity for success and feel comfortable calling the College of Business “home.” This includes Wyoming high school recruitment, community college relations, articulation, transfer students, recruitment beyond Wyoming’s borders, and the awarding of scholarships. Academic Advising Academic advising evaluates degree progression, completion tracking, study abroad opportunities, and management of resources among student demand, optimized space, and faculty. Professional Development and Engagement This component of the new center will include mentorship, professional development opportunities, corporate engagement and employer relations, internships, experiential learning opportunities, and so much more.
The center will be made new with a dynamic restructure and renovation, slated to open in the 2020-2021 academic year, current plans include an inviting and open floor plan; a reception and common area for students to learn, collaborate, and network; flexible office space for staff and students; and interview and conference rooms, as well as technology-rich sales simulation spaces. The most important measure of the success of the center will be the impact it has in the lives of our business students. The center will support students’ career aspirations early and often through professional development activities and experiential learning will keep our students engaged. Experiences inside and outside of the classroom will be driven through our center to ensure that students are as prepared as they can be to immediately contribute to the organization they join upon graduation.
COLLEGE AT A GLANCE (FALL 2018)
1,380
Undergraduate Enrollment by Program
Total Enrollment
Accounting
861
Business Administration
45
Business Economics
48
Economics
39
Finance
161
Resident
519
Non-resident
186
Undergraduate Class Profile
1,184 Total Enrollment Female: 443 Male: 741
Graduate Class Profile
196 Total Enrollment Female: 70 Male: 126
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Management
287
Marketing
219
Pre-Business Administration Undeclared Business
23 176
Student-to-Faculty Ratio:
22-1
500,000
$
in scholarships awarded annually
55%
34
of UW students graduate debt-free
Average Class Size
9 Average Undergraduate ACT Score:
23.6
student organizations and clubs including
Average Undergraduate SAT Score:
1122
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GOAL 1: DELIVER A HIGHLY VALUED STUDENT EXPERIENCE Provide a quality business education aligned with the needs of the marketplace, enhanced by personalized experiences inside and outside of the classroom. • Prioritize students’ success above all else • Create an inclusive environment for learning and professional development • Provide opportunities for engagement beyond the classroom • Involve every business student in hands-on learning experiences • Offer holistic services to advance students’ academic and professional lives
Goal
Highlight
Performance Indicators
Baseline (2017)
Target (2022)
Total undergraduate enrollment
1352
1500
Placement rate
82%
88%
Fall-to-fall retention rate (COB)
62%
68%
Center for Professional Selling The Center for Professional Selling involves cross-campus collaboration producing a multi-disciplinary program focused on developing long-lasting customer relationships. The Center for Professional Selling promotes professional selling and sales management, delivers innovative sales instruction, provides industry engagement opportunities, and conducts research that advances the field of sales. Through the use of software and technology within the classroom, our students experience how the effective use of customer and market information is critical when engaging today’s customers. The program’s strong curriculum and experiential learning opportunities earned it the distinction of a “Top University Sales Program 2017” by the Sales Education Foundation.
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GOAL 2: ADVANCE WORLD-CLASS RESEARCH Foster a research culture that sparks new ideas and addresses real-world challenges, to further understanding and provide insights that make an impact. • Attract and retain world-class faculty • Reward and support impactful, high-quality scholarship • Encourage meaningful, scholarship-based involvement with academic disciplines and relevant stakeholders • Offer rigorous, yet personal graduate research programs • Engage students in research and scholarly activities
Goal
Highlight
Performance Indicators H index for tenure/ tenure-track faculty Average number of publications per faculty member (over past 5 years) in top journals Quality of graduate programs as measured by average GRE
Baseline (2017)
Target (2022)
16.3
18
47
55
318.2
325
Summer Undergraduate Research in Economics Program (SURE) The SURE program is open to UW undergraduates with sophomore or junior standing who are majoring in economics and have strong academic standing. Taking place over ten weeks during the summer, award winners work on a one-on-one basis with faculty on an ongoing research project. Past projects include “Electric Vehicle Subsidies: Increase, Decrease, or Cease?” and “An Analysis of Wyoming Trade Patterns Using the Gravity Model of Trade.” The program offers a complete immersion of the student in the research process as they are mentored and trained by the professor. Upon completion of the program, students will be prepared to conduct high level independent research. Each accepted SURE program award winner is eligible to receive a stipend for ten weeks of full-time research work.
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GOAL 3: SERVE THE STATE THROUGH OUTREACH AND ENGAGEMENT Strengthen value-added relationships with government, industry and community stakeholders.
•D evelop a strategic approach to establishing new and deepening current relationships with key partners • Support Wyoming’s economic development by providing high-value business education and world-class research relevant to the state • Collaborate with educational and community partners to further business and economic education throughout the state
Goal
Highlight
Performance Indicators
Baseline (2017)
Target (2022)
Number of key partners
New metric
Baseline developed
Number of state-wide economic development project/activities
New metric
Baseline developed
New metric
Baseline developed
Number of collaborative engagements created with educational and community partners
Center for Business & Economic Analysis (CBEA) The CBEA supports the economic growth and diversification of Wyoming’s economy through applied economic and business analytics for communities, industries and entrepreneurs who desire a thriving and prosperous Wyoming. Their mission is to provide professional economic insight about Wyoming by tracking and interpreting regional conditions and supplying local and state economic forecasts, undertake economic impact assessments, conduct specialized analyses, studies and projects, including guidance for investors, policymakers, and entrepreneurs, and study and disseminate population demographic and workforce conditions to support regional development.
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GOAL 4: EXPAND GLOBAL CONNECTIONS Further cultural competence through international experiences and global engagement.
• I nstill a global mindset amongst faculty, staff and students • Create lasting global partnerships and infrastructure that enable globalization of the college • Facilitate and increase international opportunities and expertise • Recruit and engage outstanding international students and scholars
Goal
Highlight
Performance Indicators
Baseline (2017)
Target (2022)
Number of student and faculty participants in study abroad
58
125
Number of international students
79
100
Number of global partnerships
13
16
Benjamin A. Gilman International Scholarship Award Covey Brown (marketing) and Javaun Garcia (management) were among the winners selected to receive this prestigious scholarship award to study or work as interns abroad. Brown participated in a bilateral exchange program at Asia Pacific University in Beppu, Japan, while Garcia, was at Nanyang Technological University in Singapore. “The Gilman Program aims to make study abroad, and its career advantages, more accessible and inclusive for American students. These diverse American students gain critical skills overseas that expand their career options and ability to make an impact in their home communities,” says Heidi Manley, the chief of USA Study Abroad at the U.S. Department of State’s Bureau of Educational and Cultural Affairs.
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GOAL 5: GROW THE QUALITY AND REACH OF ONLINE OFFERINGS Reimagine online business programs to better serve our students, the state and beyond. •A dopt quality standards for course development and program delivery • Ensure industry standards are followed for all student services and support • Provide faculty and staff development regarding best practices in online education • Identify and work with strategic partners to refine and scale degree offerings
Performance Indicators Online credit hour offerings Percentage of full-time faculty with online teaching loads Online student satisfaction with degree offerings
Goal
Highlight
Baseline (2017)
Target (2022)
5490*
7500*
36%
40%
New metric
50% Very or Somewhat Satisfied*
UW Online MBA Program Achieves National Rankings The University of Wyoming’s Online MBA Program has been ranked as a top program in U.S. News & World Report’s 2019 “Best Online MBA Programs” report. UW’s national ranking is based on factors such as admissions selectivity, reputation for excellence among peer institutions, and academic and career support services offered to students. UW’s Online MBA Program also achieved a top-25 ranking from Best College Reviews and was selected as a “Best MBA Program” by the MBA Guide for 2019.
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*Subject to change
FACULTY
57
CHAIRS AND DIRECTORS
Total Number of COB Faculty
41
Tenure Track and Tenured
16
Academic Professional Lecturers
RANKINGS AND ACCREDITATIONS
ENDOWED CHAIRS
DEPARTMENT CHAIRS
Eric Johnson Clara R. Toppan Professor in Accounting
Nicole Choi Associate Professor of Finance and Interim Chair of Accounting & Finance Department
Patrick Kreiser Rile Endowed Chair of Entrepreneurship and Leadership Mark Leach Mendicino Family Chair in Sales and Salesmanship Charles Mason H.A. “Dave” True, Jr. Professor of Petroleum and Natural Gas Economics Ali Nejadmalayeri, Ph.D., CFA John A. Guthrie Endowed Chair in Banking and Financial Services
#13
“Best finance and financial management colleges for the money”
#6
Nationwide for “Best accounting colleges for the money”
#14
Most underrated colleges list”
Kent Noble Bill Daniels Chair of Business Ethics Jason Shogren Stroock Chair of Natural Resource Conservation and Management and Professor of Economics
Mark Leach Mendicino Family Chair in Sales and Salesmanship, Professor of Marketing, and Interim Chair of Management & Marketing Department Jason Shogren Stroock Chair of Natural Resource Conservation and Management, Professor of Economics and Chair of Economics Department NAMED PROFESSORSHIPS H. Jo Albers Wyoming Excellence Chair in Conservation Economics
Lawrence Weatherford Dick & Maggie Scarlett Chair in Business Administration and Professor of Decision Science COLLEGE OF BUSINESS DEAN’S REPORT | 21
ALUMNI FACTS
Congrats & welcome to all the new COB graduates joining the alumni family!
13,522
310
Total Alumni
Bachelor’s degrees UW Alumni Association chapters are found in
4
92
Master’s degrees
Doctoral degrees *2017-2018 data. 2018-19 data not yet available.
22 locations, including Norway.
5,332
181 alumni live outside the U.S. in 57+ countries
Alumni located in Wyoming
*Data as of March 2019
For more information about the University of Wyoming Alumni Association, visit www.uwyo.edu/alumni 22 | COLLEGE OF BUSINESS DEAN’S REPORT
BUSINESS ADVISORY BOARD CHAIR: Greg Dyekman Attorney/Partner, Long, Reimer, Winegar, Beppler, LLP VICE CHAIR: Dave Emery Executive Chairman, Black Hills Corporation Dave Auge President, Teton Motors, Inc. Tyler Batchelor Commercial Coordinator, Chevron Even Brande Founder & Chairman, Handel Information Technologies Tori Campbell President, Mizzen Energy, LLC Dennis Carruth President, Carruth Properties Company Joan Evans First Vice President, George K. Baum & Company Stig Hallingbye Senior Vice President, Security First Bank Pat Higgins CEO, Orrison Distributing, Ltd Kyle Hultquist Vice President, Marketing & Communications, Standard Aero Heath Hunter CFO, Warbonnett Construction Peter Johnson President, Sinclair Oil Don Kany President, KARKCO, LLC Scott Macdonald CFO, Starz Brandy Marrou CPA & Partner, McGee, Hearne, & Paiz, LLP
Ann Nelson Wyoming Market President, Western States Bank Scott Nolan Business Department Head, Casper College Mike Peck Vice President, First Interstate Bank Todd Peterson Regional President & CEO, Pinnacle Bank Shawn Reese CEO, Wyoming Business Council Rick Reimann CPA & Partner, Lenhart, Mason & Associates, LLC James Rinehart Real Estate Broker, Mason & Morse Ranch Company Kevin Rochlitz Chief Sales Officer, Corporate Sales & Business Development, Baltimore Ravens Pam Ruehle Senior Executive (ret.), Accenture Bill Scarlett Managing Director, Popo Agie Capital, LLC Bill Schilling President (ret.), Wyoming Heritage Foundation Diane Shober Executive Director, Wyoming Office of Tourism Chris Tice CEO, PharmaC, LLC Diemer True Partner, Diamond Companies Jim Willms Management Consultant
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uwyo.edu/business business@uwyo.edu | (307) 766-4194